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Fair Value Measurement (Tables)

3 Months Ended

Mar. 31, 2015

Summary of Fair Value Measured on Recurring Basis

The financial instrument that is measured at fair value on a recurring basis is summarized as follows as of March 31, 2015:

Liabilities		Level 1				Level 2				Level 3				March 31, 2015
Derivative liability - embedded conversion feature		$	—			$	—			$	58,967			$	58,967

Summary of Change in Level 3 Liability Measured at Fair Value on Recurring Basis

The following table shows the change in Level 3 liability measured at fair value on a recurring basis for the period ended March 31, 2015:

	Derivative liability embedded conversion feature
Balance, December 31, 2014	$	—
Issuance during 2015		66,227
Unrealized gain on change in fair value		(7,260	)
Balance, March 31, 2015	$	58,967

- Definition

Tabular disclosure of liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). Where the quoted price in an active market for the identical liability is not available, the Level 1 input is the quoted price of an identical liability when traded as an asset.

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- Definition

Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income (loss) and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability.

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