Warrants (Tables)

9 Months Ended

Sep. 30, 2015

Assumptions Used in Binomial and Monte Carlo Valuation Model

The following assumptions were used in the Binomial/Monte Carlo valuation model at September 30, 2014:

	2014
Risk-free interest rate	0.02%
Expected life in years	0.19
Expected volatility	65%
Expected dividend yield	0
Steps per year	125