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Fair Value Measurements (Tables)
3 Months Ended 12 Months Ended
Mar. 31, 2017
Dec. 31, 2016
Fair Value Measurements    
Summary of information about the warrant liability that is measured at fair value on a recurring basis

 

 

Level 1

 

Level 2

 

Level 3

 

Total

 

As of March 31, 2017 Warrant Liability

 

$

 

$

 

$

1,252,620

 

$

1,252,620

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Level 1

 

Level 2

 

Level 3

 

Total

 

As of December 31, 2016 Warrant Liability

 

$

 

$

 

$

799,201

 

$

799,201

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

                                                                                                                                                                                    

 

 

 

Level 1

 

Level 2

 

Level 3

 

Total

 

As of December 31, 2016 Warrant Liability

 

$

 

$

 

$

799,201 

 

$

799,201 

 

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Summary of change in the estimated fair value of level 3 liabilities

 

 

Beginning

 

Change in

 

Ending Fair

 

 

 

Value of

 

Fair Value of

 

Value of

 

 

 

Level 3

 

Level 3

 

Level 3

 

 

 

Liability

 

Liability

 

Liability

 

For the three months ended March 31, 2017

 

$

799,201

 

$

453,419

 

$

1,252,620

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

For the three months ended March 31, 2016

 

$

 

$

 

$

 

 

 

 

 

 

 

 

 

 

 

 

 

                                                                                                                                                                                    

 

 

 

Beginning
Value of
Level 3
Liability

 

Issuance of
Common
Stock
Warrants

 

Change in
Fair Value of
Level 3
Liability

 

Conversion
into
Additional
Paid-in Capital

 

Ending Fair
Value of
Level 3
Liability

 

For the year ended December 31, 2016

 

$

 

$

756,001

 

$

43,200

 

$

 

$

799,201

 

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For the year ended December 31, 2015

 

$

601,889

 

$

47,479

 

$

501,617

 

$

(1,150,985

)

$

 

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