Fair Value Measurements (Tables)

3 Months Ended

Jun. 30, 2014

Fair Value Measurements Tables

Fair value heirarchy for liabilities measured at fair value on a recurring basis

The fair value hierarchy for the warrant liability measured at fair value on a recurring basis is as follows:

			Fair Value Measurements at Reporting Date Using
	Total Carrying		Quoted Prices in Active Markets for Identical Assets		Significant Other Observable Inputs		Significant Unobservable Inputs
	Value		(Level 1)		(Level 2)		(Level 3)
June 30, 2014:
Warrant liability	$	4,701,200	$	-	$	-	$	4,701,200
March 31, 2014:
Warrant liability	$	2,973,900	$	-	$	-	$	2,973,900

Changes in Level 3 liabilities

The changes in Level 3 liabilities measured at fair value on a recurring basis are as follows:

	Fair Value Measurements
	Using Significant
	Unobservable Inputs
	(Level 3)
	Warrant Liability
Balance at March 31, 2014	$	2,973,900
Mark to market loss included in net loss		1,727,300
Balance at June 30, 2014	$	4,701,200