Annual report pursuant to Section 13 and 15(d)

FAIR VALUE MEASUREMENTS (Tables)

v3.8.0.1
FAIR VALUE MEASUREMENTS (Tables)
 12 Months Ended
Dec. 31, 2016
Fair Value Measurements Tables  
Fair value hierarchy financial assets measured

 

 

 

   Fair Value at December 31,     Fair Value Measurement Using  
Description   2016     Level 1     Level 2     Level 3   
Derivative Liabilities – Conversion Feature   $ 6,975,000     $ –     $ –     $ 6,975,000  
Liability - Black Oak Contingent Consideration     12,085,859       –       –       12,085,859  
                                 
    $ 19,060,859     $ –     $ –     $ 19,060,859  

 

 

 

   Fair Value at December 31,     Fair Value Measurement Using  
Description   2015     Level 1     Level 2     Level 3  
Derivative Liabilities – Conversion Feature   $ 743,400     $ –     $ –     $ 743,400  
Liability - Black Oak Contingent Consideration     –       –       –       –  
                                 
    $ 743,400     $ –     $ –     $ 743,400  

Liabilities measured at fair value on a recurring basis using significant unobservable inputs
Balance at December 31, 2014   $ 1,253,000  
         
Change in Fair Market Value of Conversion Feature     (1,800,100 )
Issuance of Equity Instruments with Debt Greater Than Debt Carrying Amount     561,000  
Derivative Debt Converted into Equity     (1,168,500 )
Issuance of Debt Instruments with Derivatives     1,898,000  
         
Balance at December 31, 2015     743,400  
         
Change in Fair Market Value of Conversion Feature     489,700  
Issuance of Equity Instruments with Debt Greater Than Debt Carrying Amount     1,487,500  
Derivative Debt Converted into Equity     (14,232,100 )
Issuance of Debt Instruments with Derivatives     18,486,500  
         
Balance at December 31, 2016   $ 6,975,000  
Reconciliation liability measured at fair value
Balance at December 31, 2015   $ –  
         
Purchase of Black Oak Gallery     12,754,553  
Change in Fair Market Valuation of Black Oak Contingent Consideration     (668,694 )
         
Balance at December 31, 2016   $ 12,085,859  
Estimates the fair value of warrant
  2016   2015   2014  
Stock Price $0.29 - $0.49   $0.09 - $0.22   -  
Conversion and Exercise Price $0.22 - $0.50   $0.07 - $0.16   -  
Annual Dividend Yield -   -   -  
Expected Life (Years) 1.5 - 4.0   1.0 - 4.0   -  
Risk-Free Interest Rate 2.50%   2.50%   -  
Expected Volatility 120.30% - 144.03%   98.35% - 148.71%   -