FAIR VALUE MEASUREMENT

12 Months Ended

Dec. 31, 2016

Fair Value Disclosures [Abstract]

FAIR VALUE MEASUREMENT

Note 13 – Fair Value Measurement

Liabilities Measured at Fair Value on a Recurring Basis

The following table sets forth by level within the fair value hierarchy the Company's net derivative liabilities that were measured at fair value on a recurring basis as of December 31, 2016 and 2015:

		Total		Level 1		Level 2		Level 3
Derivatives liability, net
December 31, 2016	$	—	$	—	$	—	$	—
December 31, 2015	$	—	$	—	$	—	$	—

Changes in Level 3 Fair Value Measurements

The table below includes a rollforward of amounts included in the Company's Balance Sheet (including the change in fair value) for financial instruments classified by the Company within Level 3 of the fair value hierarchy. When a determination is made to classify a financial instrument within Level 3 of the fair value hierarchy, the determination is based upon the significance of the unobservable factors to the overall fair value measurement.

Level 3 financial instruments typically include, in addition to the unobservable or Level 3 components, observable components (that is, components that are actively quoted and can be validated to external sources).

	Year Ended December 31
	2016		2015
Fair value liability (asset), beginning of period	$	—	$	13,308
Transfer out of Level 3(1)	$	—	$	(13,308	)
Realized and unrealized (gain) loss included in earnings	$	—	$	—
Unrealized loss included in derivative liability	$	—	$	—
Settlements	$	—	$	—
Fair value liability, end of period	$	—	$	—

(1) During the first quarter of 2015, the derivative liability was converted into shares of stock and these instruments were transferred to level 1. The inputs used to value common stock are defined as unadjusted quoted prices in active markets for identical assets or liabilities.