| Schedule Of Assets And Liabilities Measured At Fair Value On A Recurring Basis |
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Fair Value Measurements at September 30, 2014
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Total
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Level 1
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Level 2
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Level 3
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Assets:
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Restricted Cash Equivalents
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37,500
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-
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37,500
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-
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Certificates of Deposit
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15,473,585
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-
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15,473,585
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-
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Commercial Paper
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2,996,110
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-
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2,996,110
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-
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Corporate Bonds
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2,044,190
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-
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2,044,190
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-
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State and municipal obligations
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100,000
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100,000
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-
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-
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Total Assets:
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$
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20,651,385
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$
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100,000
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$
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20,551,385
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$
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-
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Liabilities:
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Warrant Liabilities
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$
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5,382,009
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-
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-
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$
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5,382,009
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Fair Value Measurements at December 31, 2013
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Total
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Level 1
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Level 2
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Level 3
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Assets:
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Restricted Cash Equivalents
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$
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196,130
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$
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158,630
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$
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37,500
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$
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-
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State and municipal obligations
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100,000
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100,000
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-
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-
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Total Assets:
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$
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296,130
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$
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258,630
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$
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37,500
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$
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-
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Liabilities:
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Warrant Liabilities
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$
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5,034,058
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-
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-
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$
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5,034,058
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| Reconciliation Of Changes In The Fair Value Of Liabilities |
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Warrant Liabilities
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Balance at January 1, 2014
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$
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5,034,058
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Additions
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3,691,429
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Unrealized losses, net
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6,793,765
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Unrealized gains on expiration
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-
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Transfers out of level 3
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(10,137,243)
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Balance at September 30, 2014
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$
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5,382,009
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Warrant Liabilities
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Balance at January 1, 2013
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$
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2,842,065
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Additions
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1,406,441
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Unrealized losses, net
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1,055,505
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Unrealized gains on expiration
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-
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Transfers out of level 3
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(1,111,795)
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Balance at September 30, 2013
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$
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4,192,216
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