Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2017

Fair Value Disclosures [Abstract]

Schedule of Fair Value Assets Measured On Recurring Basis

The following table presents the Company’s assets and liabilities that are measured at fair value on a recurring basis at March 31, 2017:

			Fair Value Measurements at Reporting Date Using
	Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant other Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Cash equivalents:
Money market funds	$	534,257	$	534,257	$	—	$	—
Total cash equivalents	534,257		534,257		—		—
Derivative liabilities:
Derivative Instruments	355,612		—		—		355,612
Total derivative liabilities	355,612		—		—		355,612
Total assets and liabilities measured at fair value	$	889,869	$	534,257	$	—	$	355,612

The following table presents the Company’s assets and liabilities that are measured at fair value on a recurring basis at December 31, 2016: 

			Fair Value Measurements at Reporting Date Using
	Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant other Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Cash equivalents:
Money market funds and commercial paper	$	1,133,280	$	1,133,280	$	—	$	—
Total cash equivalents	1,133,280		1,133,280		—		—
Derivative liabilities:
Derivative Instruments	336,862		—		—		336,862
Total derivative liabilities	336,862		—		—		336,862
Total assets and liabilities measured at fair value	$	1,470,142	$	1,133,280	$	—	$	336,862

Fair Value Measurements using Significant Unobservable Inputs

The following table presents a reconciliation of the beginning and ending balances of the Company's liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the three months ended March 31, 2017 and March 31, 2016:

	Three Months Ended March 31,
	2017		2016
Beginning Balance	$	336,862	$	82,024
Total loss recognized in earnings	18,750		51,205
Ending Balance	$	355,612	$	133,229