Fair Value Measurements (Tables)

3 Months Ended

Jun. 30, 2013

Schedule of Assets and Liabilities Carried at Fair Value

The following table provides the assets carried at fair value, measured as of June 30, 2013 and March 31, 2013 (in thousands):


	Total Carrying Value		Quoted Prices in Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
June 30, 2013:
Assets:
Cash equivalents	$	18,658	$	18,658	$	—	$	—
Liabilities:
Derivative liability	$	477	$	—	$	—	$	477
Warrants	$	3,216	$	—	$	—	$	3,216

	Total Carrying Value		Quoted Prices in Active Markets (Level 1)		Using Significant Other Observable Inputs (Level 2)		Using Significant Unobservable Inputs (Level 3)
March 31, 2013:
Assets:
Cash equivalents	$	18,649	$	18,649	$	—	$	—
Liabilities:
Derivative liability	$	529	$	—	$	—	$	529
Warrants	$	3,633	$	—	$	—	$	3,633

Schedule of Liabilities Measured at Fair Value

The table below reflects the activity for the Company’s major classes of liabilities measured at fair value for the period ended June 30, 2013 (in thousands).


	Derivative Liability			Warrants
April 1, 2013	$	529		$	3,633
Mark to market adjustment		(52	)		(417	)

Balance at June 30, 2013	$	477		$	3,216


	Derivative Liability			Warrants
April 1, 2012	$	—		$	—
Valuation of derivative liability		3,779			—
Warrant issuance with Senior Convertible Notes		—			7,018
Warrant issuance with Senior Secured Term Loan		—			380
Valuation of derivative liability attributable to modification		542			—
Mark to market adjustment		(3,792	)		(3,765	)

Balance at March 31, 2013	$	529		$	3,633