v2.4.0.8

Fair Value of Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2014

Summary of Fair Value of Financial Instruments Measured on Recurring Basis

The following tables provide a summary of the fair value of financial instruments that are measured on a recurring basis using the above input categories as of December 31, 2013:

		December 31, 2013
		Level 1				Level 2				Level 3				Total
Liabilities
Derivative liability		$	—			$	—			$	1,107			$	1,107
		$	—			$	—			$	1,107			$	1,107

Schedule of Fair Value Inputs Liabilities Quantitative Information

Quantitative information regarding significant unobservable inputs used for recurring Level 3 fair value measurements of financial instruments were as follows as of December 31, 2013:

		December 31, 2013
		Valuation Technique				Key Inputs		Range
Derivative Liability			Lattice Model			Probability of exit		90%
						Remaining term		0.8 years - 8.3 years
						Yield Volatility		21.4% - 31.1%
						Credit Spread		8.90%
						Risk-free rate		0.13% - 2.45%

Summary of Change in Fair Value of Level 3 Financial Instruments

The following table summarizes the changes in fair value of our Level 3 financial instruments for the three and nine months ended September 30, 2014 and 2013:

		Three Months Ended September 30, 2014				Nine Months Ended September 30, 2014
Beginning Balance		$	—			$	1,107
Issuances			—				—
Change in fair value of derivative liability			—				(635	)
Write-off to Other income (expense)			—				(472	)
Ending Balance		$	—			$	—

		Three Months Ended September 30, 2013				Nine Months Ended September 30, 2013
Beginning Balance		$	1,766			$	1,767
Issuances			—				—
Change in fair value of derivative liability			(659	)			(660	)
Ending Balance		$	1,107			$	1,107

X

- Definition

Tabular disclosure of quantitative information about the inputs used in the fair value measurement of liabilities. This disclosure may include, but is not limited to, the fair value of the liability, valuation technique used to measure fair value, the inputs used to measure fair value, the ranges of the inputs, and the weighted averages of the inputs.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 820

-SubTopic 10

-Section 50

-Paragraph 2

-Subparagraph (bbb)

-URI http://asc.fasb.org/extlink&oid=36462937&loc=d3e19207-110258

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X

- Definition

Tabular disclosure of liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). Where the quoted price in an active market for the identical liability is not available, the Level 1 input is the quoted price of an identical liability when traded as an asset.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 820

-SubTopic 10

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=36462937&loc=d3e19190-110258



Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 820

-SubTopic 10

-Section 50

-Paragraph 2

-Subparagraph (a),(b)

-URI http://asc.fasb.org/extlink&oid=36462937&loc=d3e19207-110258

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X

- Definition

Tabular disclosure of financial instrument classified as a derivative asset (liability) after deduction of derivative liability (asset) using recurring unobservable inputs that reflect the entity's own assumption about the assumptions market participants would use in pricing.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 820

-SubTopic 10

-Section 50

-Paragraph 3

-Subparagraph (b)

-URI http://asc.fasb.org/extlink&oid=36462937&loc=d3e19279-110258



Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 820

-SubTopic 10

-Section 50

-Paragraph 2

-Subparagraph (c)

-URI http://asc.fasb.org/extlink&oid=36462937&loc=d3e19207-110258

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