Quarterly report pursuant to Section 13 or 15(d)

Fair Value of Financial Instruments (Tables)

v3.5.0.2
Fair Value of Financial Instruments (Tables)
9 Months Ended
Sep. 30, 2016
Fair Value Disclosures [Abstract]  
Schedule of Fair Value Assumptions Used to Value Warrant Liability
    August 10,     June 30,  
    2016     2016  
Strike price   $ 2.00     $ 2.00  
Market price   $ 6.08     $ 3.20  
Expected life   5 years     5 years  
Risk-free interest rate     1.07 %     1.01 %
Dividend yield     0.00 %     0.00 %
Volatility     100 %     100 %
Summary of Changes in Fair Value of Level 3 Financial Liabilities
Balance – January 1, 2016   $ -  
Initial value of derivative liability     380,000  
Change in fair value of derivative liability     401,000  
Reclassification of derivative liability to additional paid in capital     (781,000 )
Balance – September 30, 2016   $ -