Quarterly report pursuant to Section 13 or 15(d)

FAIR VALUE MEASUREMENTS (Tables)

v2.4.0.8
FAIR VALUE MEASUREMENTS (Tables)
3 Months Ended
Sep. 30, 2013
Fair Value Disclosures [Abstract]  
Fair Value Measurements
Following is a summary as of the reporting date of the fair values and applicable level within the fair value hierarchy of assets and liabilities measured at fair value on a recurring basis:
 
At September 30, 2013:
 
Quoted Prices in
Active Markets
for Identical
Assets
 
Significant Other
Observable Inputs
 
Significant
Unobservable
Inputs
 
 
 
(Level 1)
 
(Level 2)
 
(Level 3)
 
Description:
 
 
 
 
 
 
 
 
 
 
Warrant derivative liabilities
 
$
-
 
$
-
 
$
62,000
 
 
At June 30, 2013:
 
Quoted Prices in
Active Markets
for Identical
Assets
 
Significant Other
Observable Inputs
 
Significant
Unobservable
Inputs
 
 
 
(Level 1)
 
(Level 2)
 
(Level 3)
 
Description:
 
 
 
 
 
 
 
 
 
 
Warrant derivative liabilities
 
$
-
 
$
-
 
$
143,000
 
 
 
Summary of valuation techniques used to measure the fair value of financial instruments
The table below sets forth a summary of changes in the fair value of our (Level 3) financial instruments for the three months ended September 30, 2013:
 
 
 
Balance at
June 30,
2013
 
Estimated fair
value of new
derivative
liabilities
 
Change in estimated
fair value
recognized in results
of operations
 
Balance at
September 30,
2013
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Warrant derivative liabilities
 
$
143,000
 
$
-
 
$
(81,000)
 
$
62,000