Derivative Liability (Tables)

6 Months Ended

Jun. 30, 2016

Derivative liability [Abstract]

Fair value assumptions used in valuation techniques

The Company used a Monte Carlo simulation to value the conversion feature with the following assumptions:

	As of June 30, 2016
Common Stock price	$ 1.31
Convertible debt principal amount	$ 200
Term (years)	0.32
Expected volatility	108%
Convertible debt interest rate	24%
Trials (each trial equals 150,000 iterations)	10
Discount to IPO/next round	Based upon a Company pre-money valuation of $5,000

Changes in the market value of the Level 3 derivative liability

Changes in the fair market value of the Level 3 derivative liability for the six-month periods ended June 30, 2016 and June 30, 2015 are as follows:

	For the Six Months Ended
	June 30, 2016	June 30, 2015
Balance at January 1	$ 330	$ -
Net gain on derivative liability	(174)	-
Balance at June 30	$ 156	$ -