Derivative Liabilities and Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2017

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of fair value of derivative liabilities using Black-Scholes option pricing model

The Company estimated the fair value of the derivative liabilities using the Black-Scholes option pricing model and the following key assumptions during 2017:

	2017
Expected dividends		0	%
Expected terms (years)		0.07 - 3.00
Volatility		103% - 118	%
Risk-free rate		1.24% - 1.55	%

Schedule of derivative liabilities at fair value

The following table provides a summary of the fair value of our derivative liabilities as of June 30, 2017 and December 31, 2016:

	Fair value measurements on a recurring basis
	Level 1		Level 2		Level 3
As of June 30, 2017:
Liabilities
Derivative liabilities – convertible debt and warrants	$	—	$	—	$	396,674
As of December 31, 2016:
Liabilities
None	$	—	$	—	$	1,014,192

Schedule of change in fair value of derivative liabilities

The below table presents the change in the fair value of the derivative liabilities during the six months ended June 30, 2017:

Fair value as of December 31, 2016	$	1,014,192
Additions recognized as debt discounts		21,495
Additions recognized in equity financing		451
Reduction due to settlement upon conversion		(19,566	)
Gain on change in fair value of derivatives		(619,898	)
Fair value as of June 30, 2017	$	396,674