Schedule of Fair Value Assets Measured On Recurring Basis | The following table presents the Company’s assets and liabilities that are measured at fair value on a recurring basis at December 31, 2016: | | | | | | | | | | | | | | | | | | | | | | Fair Value Measurements at Reporting Date Using | | | Total | | Quoted Prices in Active Markets for Identical Assets (Level 1) | | Significant other Inputs (Level 2) | | Significant Unobservable Inputs (Level 3) | Cash equivalents: | | | | | | | | | Money market funds | | $ | 1,133,280 |
| | $ | 1,133,280 |
| | $ | — |
| | $ | — |
| Total cash equivalents | | 1,133,280 |
| | 1,133,280 |
| | — |
| | — |
| Marketable securities: | | |
| | |
| | |
| | |
| Corporate debt and government securities | | — |
| | — |
| | — |
| | — |
| Total marketable securities | | — |
| | — |
| | — |
| | — |
| Derivative liabilities: | | | | | | | | | Derivative Instruments | | 336,862 |
| | — |
| | — |
| | 336,862 |
| Total derivative liabilities | | 336,862 |
| | — |
| | — |
| | 336,862 |
| | | | | | | | | | Total assets and liabilities measured at fair value | | $ | 1,470,142 |
| | $ | 1,133,280 |
| | $ | — |
| | $ | 336,862 |
|
The following table presents the Company’s assets and liabilities that are measured at fair value on a recurring basis at December 31, 2015: | | | | | | | | | | | | | | | | | | | | | | Fair Value Measurements at Reporting Date Using | | | Total | | Quoted Prices in Active Markets for Identical Assets (Level 1) | | Significant other Inputs (Level 2) | | Significant Unobservable Inputs (Level 3) | Cash equivalents: | | | | | | | | | Money market funds and commercial paper | | $ | 2,725,094 |
| | $ | 2,725,094 |
| | $ | — |
| | $ | — |
| Total cash equivalents | | 2,725,094 |
| | 2,725,094 |
| | — |
| | — |
| Marketable securities: | | |
| | |
| | |
| | |
| Corporate debt and government securities | | 7,420,042 |
| | — |
| | 7,420,042 |
| | — |
| Total marketable securities | | 7,420,042 |
| | — |
| | 7,420,042 |
| | — |
| Derivative liabilities: | | | | | | | | | Derivative Instruments | | 82,024 |
| | — |
| | — |
| | 82,024 |
| Total derivative liabilities | | 82,024 |
| | — |
| | — |
| | 82,024 |
| | | | | | | | | | Total assets and liabilities measured at fair value | | $ | 10,227,160 |
| | $ | 2,725,094 |
| | $ | 7,420,042 |
| | $ | 82,024 |
|
|
Fair Value Measurements Using Significant Unobservable Inputs | The following table presents the Company’s assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3) as of each of the years ended December 31, 2016 and 2015: | | | | | | | | | | | | Fair Value Measurements Using Significant Unobservable Inputs (Level 3) | | | December 31, 2016 | | December 31, 2015 | Beginning Balance | | $ | 82,024 |
| | $ | 137,171 |
| Issuance of Derivative Instruments | | — |
| | — |
| Total loss (gain) recognized in earnings | | 254,838 |
| | (55,147 | ) | Ending Balance | | $ | 336,862 |
| | $ | 82,024 |
|
|