1. Organization of The Company and Significant Accounting Policies: Fair Value Measurements: Assets and Liabilities Measured and Recognized At Fair Value On A Recurring and Non-recurring Basis (Tables)

9 Months Ended

Sep. 30, 2014

Assets and Liabilities Measured and Recognized At Fair Value On A Recurring and Non-recurring Basis:

The following table presents assets and liabilities that are measured and recognized at fair value as of September 30, 2014 and December 31, 2013 on a recurring and non-recurring basis:

							Total
							Gains
Description	Level 1		Level 2		Level 3		(Losses)

Derivative liabilities (recurring)	$	-	$	-	$	1,127,499	$	1,127,499

The following table presents assets and liabilities that are measured and recognized at fair value as of December 31, 2013 on a recurring and non-recurring basis:

							Total
							Gains
Description	Level 1		Level 2		Level 3		(Losses)

Derivative liabilities (recurring)	$	-	$	-	$	220,131	$	220,131

- 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

MONDIAL VENTURES, INC. 10-Q