4. Fair Value of Derivative financial instruments	3 Months Ended
Mar. 31, 2015
Fair Value Disclosures [Abstract]
Fair value of derivative financial instruments	The condensed consolidated balance sheet caption derivative liability includes warrants and a convertible note. The warrants were issued in connection with the 2005 Laurus Financing Arrangement, and the 2006 Omnibus Amendment and Waiver Agreement with Laurus. These derivative financial instruments are indexed to an aggregate of 758,333 shares of the Company’s common stock as of March 31, 2015 and December 31, 2014, and are carried at fair value. The balance at March 31, 2015 was $50,593 compared to $69,765 at December 31, 2014. The convertible note issued May 30, 2014 (See Note 3) is indexed to 11,250,028 shares of the Company’s common stock and is carried at fair value of $443,961 at March 31, 2015. The valuation of the derivative warrant liabilities is determined using a Black-Scholes Merton Model. Freestanding derivative instruments, consisting of warrants and options that arose from the Laurus financing are valued using the Black-Scholes-Merton valuation methodology because that model embodies all of the relevant assumptions that address the features underlying these instruments. Significant assumptions used in the Black Scholes models as March 31, 2015 included the March 31, 2015 publicly traded stock price of the Company of $0.07, the conversion or strike price of $0.10 per the agreement, a historical volatility factor of 211.88% based upon forward terms of instruments, and a risk free rate of 2.22% and remaining life 7.48 years.

4. Fair Value of Derivative financial instruments

3 Months Ended

Mar. 31, 2015

Fair value of derivative financial instruments

The condensed consolidated balance sheet caption derivative liability includes warrants and a convertible note. The warrants were issued in connection with the 2005 Laurus Financing Arrangement, and the 2006 Omnibus Amendment and Waiver Agreement with Laurus. These derivative financial instruments are indexed to an aggregate of 758,333 shares of the Company’s common stock as of March 31, 2015 and December 31, 2014, and are carried at fair value. The balance at March 31, 2015 was $50,593 compared to $69,765 at December 31, 2014. The convertible note issued May 30, 2014 (See Note 3) is indexed to 11,250,028 shares of the Company’s common stock and is carried at fair value of $443,961 at March 31, 2015.

The valuation of the derivative warrant liabilities is determined using a Black-Scholes Merton Model. Freestanding derivative instruments, consisting of warrants and options that arose from the Laurus financing are valued using the Black-Scholes-Merton valuation methodology because that model embodies all of the relevant assumptions that address the features underlying these instruments. Significant assumptions used in the Black Scholes models as March 31, 2015 included the March 31, 2015 publicly traded stock price of the Company of $0.07, the conversion or strike price of $0.10 per the agreement, a historical volatility factor of 211.88% based upon forward terms of instruments, and a risk free rate of 2.22% and remaining life 7.48 years.