Quarterly report pursuant to Section 13 or 15(d)

Other Liabilities

Other Liabilities
9 Months Ended
Sep. 30, 2014
Other Liabilities Disclosure [Abstract]  
Other Liabilities

16.Other Liabilities


For the December 2013 private placement, the Company issued units consisting of one common share and one half warrant. Each full warrant is priced at US$1.35 which created a derivative financial instrument. The liability created is adjusted to a calculated fair value quarterly using the Black-Scholes technique described below as there is no active market for the warrants. Any income or loss is reflected in net income for the year. The revaluation as of September 30, 2014 resulted in a gain of $786 thousand for the nine months ended September 30, 2014 which is reflected on the statement of operations.