Axion Power International, Inc. | 2013 | FY | 3

The Senior Warrants and the conversion feature of the Senior Notes are classified as a liability in the consolidated condensed balance sheet as follows:
 
 
 
Warrants
 
Conversion Feature
 
Total
 
 
 
 
 
 
 
 
 
 
 
 
Original valuation – May 8, 2013
 
$
2,938,000
 
$
1,512,000
 
$
4,450,000
 
Adjustment to fair value
 
 
2,419,567
 
 
1,511,968
 
 
3,931,535
 
Ending Balance–December 31, 2013
 
$
518,433
 
$
32
 
$
518,465
 

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