Quarterly report pursuant to Section 13 or 15(d)

Warrant Liability (Tables)

v2.4.0.8
Warrant Liability (Tables)
9 Months Ended
Sep. 30, 2014
Warrant Liability [Abstract]  
Schedule of Warrant Liability Fair Value Assumptions
The warrant liability was valued using the Black-Scholes option pricing model and the following assumptions on the following dates:
 
   

September 30,

2014
       
December 31,
2013
   
Strike price
    $ 10.00         $ 10.00    
Market price
    $ 5.05         $ 4.61    
Expected life
      4.42 years           5.17 years    
Risk-free interest rate
      1.62 %         0.86 %  
Dividend yield
      0.00 %         0.00 %  
Volatility
      41 %         39 %  
Warrants outstanding
      131,250           131,250    
Fair value of warrants
    $ 106,236         $ 85,221