Emmaus Life Sciences, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

6 Months Ended

Mar. 31, 2015

Fair Value Inputs, Liabilities, Quantitative Information [Table Text Block]

The Company used Level 2 inputs for its valuation methodology for the conversion option liability in determining the fair value using the Black-Scholes option-pricing model with the following assumption inputs:

	March 31, 2015
Annual dividend yield	-
Expected life (years)	0.5
Risk-free interest rate	0.14	%
Expected volatility	64	%

Fair Value Measurements, Recurring and Nonrecurring [Table Text Block]

	Carrying Value		Fair Value Measurements at
	As of		March 31, 2015
	March 31,		Using Fair Value Hierarchy
	2015		Level 1		Level 2		Level 3
Liabilities
Secured Convertible Debt	$	1,920,700	$	-	$	2,065,000	$	-
Conversion option liability		85,800				85,800
Total	$	2,006,500	$	-	$	2,150,800	$	-

- Definition

Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances.

+ References + Details