Quarterly report pursuant to Section 13 or 15(d)

Fair Value Measurement (Tables)

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Fair Value Measurement (Tables)
6 Months Ended
Jun. 30, 2018
Fair Value Disclosures [Abstract]  
Schedule of Liabilities Measured at Fair Value

Assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement.

 

    Fair value at                    
    June 30, 2018     Level 1     Level 2     Level 3  
Convertible Bridge Notes   $ 3,300,000     $ -     $ -     $ 3,300,000  
Total   $ 3,300,000     $ -     $ -     $ 3,300,000  

 

    Fair value at                    
    December 31, 2017     Level 1     Level 2     Level 3  
Convertible Notes   $ 3,270,000     $ -     $ -     $ 3,270,000  
Total   $ 3,270,000     $ -     $ -     $ 3,270,000

Schedule of Reconciliation of Level 3 Conversion Option Liability

The tables also show the cumulative change effect of the derivative liabilities that were recorded as an adjustment of the opening balance of accumulated deficit for the year:

 

    Six months Ended
June 30, 2018
 
    Convertible Bridge
Notes
 
Fair value, December 31, 2017   $ 3,270,000  
Issuances of debt     290,000  
Accrued interest     140,488  
Conversions of debt and accrued interest to shares of common stock     (57,664 )
Amortization of debt issuance costs     2,500  
Net unrealized gain on convertible bridge notes     (345,324 )
Fair value, June 30, 2018   $ 3,300,000