NeuBase Therapeutics, Inc. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Sep. 30, 2014

Schedule of assets and liabilities measured and recognized at fair value

The following table presents assets and liabilities that are measured and recognized at fair value as of September 30, 2014 and 2013, on a recurring basis:

Assets and liabilities measured at fair value on a recurring basis at September 30, 2014	Level 1	Level 2	Level 3		Total Carrying Value
Contingent stock consideration	$	$	$	4,877,359	$	4,877,359
	$	$	$	4,877,359	$	4,877,359

Assets and liabilities measured at fair value on a recurring basis at September 30, 2013

Level 1

Level 2

Level 3

Total
Carrying
Value

Stock warrant derivative liabilities

Schedule of fair value of financial instruments by caption on balance sheet

The following tables present the fair value of financial instruments as of September 30, 2014, by caption on the balance sheet and by ASC 820 valuation hierarchy described above.

Level 3 Reconciliation:	Stock Warrant Derivative			Contingent Stock Consideration
Level 3 assets and liabilities at September 30, 2011	$	(5,893,544	)	$
Purchases, sales, issuances and settlements (net)		3,312,624
Mark to market adjustments		1,812,224
Level 3 assets and liabilities at September 30, 2012		(768,696	)
Purchases, sales, issuances and settlements (net)		1,886,338
Mark to market adjustments		(1,117,642	)
Total level 3 assets and liabilities at September 30, 2013
Purchases, sales, issuances and settlements (net)					4,877,359
Mark to market adjustments
Total level 3 assets and liabilities at September 30, 2014	$			$	4,877,359

- Definition

Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income (loss) and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability.

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