Quarterly report pursuant to Section 13 or 15(d)

Other Liabilities

Other Liabilities
3 Months Ended
Mar. 31, 2015
Other Liabilities Disclosure [Abstract]  
Other Liabilities

15.Other Liabilities


For the December 2013 private placement, we issued units consisting of one common share of the Company’s stock 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 March 31, 2015 resulted in a loss of $77 thousand for the three months ended March 31, 2015 which is reflected on the statement of operations.