XML 38 R31.htm IDEA: XBRL DOCUMENT
v2.4.0.8

Warrants and Derivative Liabilities (Tables) | 3 Months Ended
--- | ---
Jun. 30, 2014
Schedule of Fair Value Assumptions Used to Calculate Value of Convertible Note Derivative Feature | Following is a summary of the key assumptions used to value the convertible notes derivative features:
| March 31, |  | December 31, |  |  | September 30, |  |  | June 30, |  | March 31, |
Fiscal Year 13 | 2014 |  | 2013 |  |  | 2013 |  |  | 2013 |  | 2013 |
Principal outstanding (000's) | $ | — |  | $ |  | 10,411 |  |  | $ |  | 10,411 |  |  | $ |  | 14,389 |  | $ |  | 15,380 |
Stock price |  | N/A |  | $ |  | 1.64 |  |  | $ |  | 2.34 |  |  | $ |  | 2.64 |  | $ |  | 2.67 |
Percentage volume condition met |  | — % |  |  |  | 87.20 | % |  |  |  | 80.20 | % |  |  |  | 87.50 | % |  |  | 80.50 | %
Expected volatility |  | — % |  |  |  | 68.60 | % |  |  |  | 66.30 | % |  |  |  | 65.80 | % |  |  | 66.90 | %
Risk free rate |  | — % |  |  |  | 0.12 | % |  |  |  | 0.10 | % |  |  |  | 0.21 | % |  |  | 0.20 | %
Bond yield |  | — % |  |  |  | 16.50 | % |  |  |  | 15.50 | % |  |  |  | 16.70 | % |  |  | 16.50 | %
Recovery rate |  | — % |  |  |  | 35.00 | % |  |  |  | 35.00 | % |  |  |  | 37.00 | % |  |  | 30.00 | %
Redeemable |  | N/A |  |  | yes |  |  |  | yes |  |  |  | yes |  |  | yes |
Total time (years) |  | — |  |  |  | 0.75 |  |  |  |  | 1.00 |  |  |  |  | 1.26 |  |  |  | 1.51 |
Dilution effect |  | N/A |  |  | yes |  |  |  | yes |  |  |  | yes |  |  | yes |
Fair value | $ | — |  | $ | — |  |  | $ | 0.2 million |  |  | $ | 0.5 million |  | $ | 0.5 million |
Fair value as a percent of par |  | — % |  |  |  | 0.02 | % |  |  |  | 0.70 | % |  |  |  | 3.3 | % |  |  | 3.4 | %
Securities Purchase Agreement |
Schedule of Assumptions Used to Calculate the Fair Value of Warrants | Following is a summary of the key assumptions used to calculate the fair value of the warrant:
| June 30, |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Fiscal Year 14 | 2014 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Risk-free interest rate |  | 0.98 | % |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Expected annual dividend yield |  | — | % |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Expected volatility |  | 83.50 | % |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Term (years) | 3.26 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Fair value | $2.3 million |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  |  |  |  |  |  |  |  | Post-modification |  |  | Pre-modification |  |  |  |  |  |  |  |  |  |  |  |
| March 31, |  |  | December 31, |  |  | October 9, |  |  | October 9, |  |  | September 30, |  |  | June 30, |  | March 31, |
Fiscal Year 13 | 2014 |  |  | 2013 |  |  | 2013 |  |  | 2013 |  |  | 2013 |  |  | 2013 |  | 2013 |
Risk-free interest rate |  | 1.11 | % |  |  | 1.17 | % |  |  | 1.05 | % |  |  | 1.05 | % |  |  | 1.02 | % |  |  | 1.13 | % |  | 0.67 | %
Expected annual dividend yield |  | — | % |  |  | — | % |  |  | — | % |  |  | — | % |  |  | — | % |  |  | — | % |  | — | %
Expected volatility |  | 80.99 | % |  |  | 75.60 | % |  |  | 71.50 | % |  |  | 71.50 | % |  |  | 72.00 | % |  |  | 71.90 | % |  | 71.70 | %
Term (years) | 3.51 |  |  | 3.76 |  |  | 3.99 |  |  | 3.99 |  |  |  | 4.01 |  |  |  | 4.27 |  |  | 4.51 |
Fair value | $ 2.2 million |  |  | $ 2.2 million |  |  | $ 3.2 million |  |  | $ 2.2 million |  |  | $ 2.5 million |  |  | $ 3.0 million |  | $ 3.4 million |
Loan and Security Agreement |
Schedule of Assumptions Used to Calculate the Fair Value of Warrants | Following is a summary of the key assumptions used to calculate the fair value of the First Warrant:
| June 30, |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Fiscal Year 14 | 2014 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Risk-free interest rate |  | 1.04 | % |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Expected annual dividend yield |  | — | % |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Expected volatility |  | 82.75 | % |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Term (years) |  | 3.43 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Fair value | $ 0.1 million |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  |  |  |  |  |  |  |  | Post-modification |  |  | Pre-modification |  |  |  |  |  |  |  |  |  |  |  |
| March 31, |  |  | December 31, |  |  | November 15, |  |  | November 15, |  |  | September 30, |  |  | June 30, |  | March 31, |
Fiscal Year 13 | 2014 |  |  | 2013 |  |  | 2013 |  |  | 2013 |  |  | 2013 |  |  | 2013 |  | 2013 |
Risk-free interest rate |  | 1.18 | % |  |  | 1.24 | % |  |  | 1.00 | % |  |  | 1.00 | % |  |  | 1.09 | % |  |  | 1.20 | % |  | 0.70 | %
Expected annual dividend yield |  | — | % |  |  | — | % |  |  | — | % |  |  | — | % |  |  | — | % |  |  | — | % |  | — | %
Expected volatility |  | 80.73 | % |  |  | 74.79 | % |  |  | 72.64 | % |  |  | 72.64 | % |  |  | 72.10 | % |  |  | 72.30 | % |  | 72.01 | %
Term (years) |  | 3.68 |  |  |  | 3.93 |  |  |  | 4.05 |  |  |  | 4.05 |  |  |  | 4.18 |  |  |  | 4.43 |  |  | 4.68 |
Fair value | $ 0.1 million |  |  | $ 0.1 million |  |  | $ 0.1 million |  |  | $ 0.1 million |  |  | $ 0.2 million |  |  | $ 0.2 million |  | $ 0.2 million |
Senior Secured Term Loan Second Warrant |
Schedule of Assumptions Used to Calculate the Fair Value of Warrants | Following is a summary of the key assumptions used to calculate the fair value of the Second Warrant:
| June 30, |  |  |  |  |  |  |  |  |
Fiscal Year 14 | 2014 |  |  |  |  |  |  |  |  |
Risk-free interest rate |  | 1.57 | % |  |  |  |  |  |  |  |
Expected annual dividend yield |  | — | % |  |  |  |  |  |  |  |
Expected volatility |  | 80.00 | % |  |  |  |  |  |  |  |
Term (years) |  | 4.87 |  |  |  |  |  |  |  |  |
Fair value | $ 0.3 million |  |  |  |  |  |  |  |  |
|  |  |  |  |  |  |  |  | New Issuance |
| March 31, |  |  | December 31, |  |  | November 15, |
Fiscal Year 13 | 2014 |  |  | 2013 |  |  | 2013 |
Risk-free interest rate |  | 1.76 | % |  |  | 1.89 | % |  |  | 1.55 | %
Expected annual dividend yield |  | — | % |  |  | — | % |  |  | — | %
Expected volatility |  | 79.73 | % |  |  | 80.37 | % |  |  | 76.97 | %
Term (years) |  | 5.12 |  |  |  | 5.37 |  |  |  | 5.49 |
Fair value | $ 0.3 million |  |  | $ 0.3 million |  |  | $ 0.3 million |

X
- Definition Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities. + 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 (a) -URI http://asc.fasb.org/extlink&oid=25499696&loc=d3e19207-110258 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 10 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=28364263&loc=d3e13433-108611 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=28364263&loc=d3e13467-108611 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=28364263&loc=d3e13476-108611 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6957238&loc=d3e14172-108612 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6447952&loc=d3e13220-108610 + Details
Name: | us-gaap_FairValueByBalanceSheetGroupingTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the application of the fair value option for measurement and reporting of eligible financial assets and liabilities (as defined), as well as certain other eligible items (as defined) included in the statement of financial position, whether such option is elected for a single eligible item or a group of similar eligible items and is in addition to other disclosures concerning fair value which the company may be required to provide. Such disclosure might be expected to include: (1) for items included in the statement of financial position: (a) for each line item in the statement of financial position that includes an item or items for which the fair value option has been elected, provide the aggregate carrying amount of ineligible items included in each line item in the balance sheet, if any; (b) the difference between the aggregate fair value and the aggregate unpaid principal balance (assuming contractual principal amounts and fair value option elected) of: (i) loans and long-term receivables (other than securities otherwise reported at fair value) and (ii) long-term debt instruments; (c) for loans held as assets for which the fair value option has been elected: (i) the aggregate fair value of loans that are 90 days or more past due, (ii) if the policy is to recognize interest income separately from other changes in fair value, the aggregate fair value of loans in nonaccrual status, and (iii) the difference between the aggregate fair value and the aggregate unpaid principal balance for loans that are 90 days or more past due, in nonaccrual status, or both; (2) for items included in the income statement: (a) the amounts of gains and losses from fair value changes included in earnings and in which line in the income statement those gains and losses are reported whether or not combined with gains and losses from items required to be accounted for at fair value; (b) for loans and other receivables held as assets, the estimated amount of gains or losses included in earnings attributable to changes in instrument-specific credit risk; (c) for liabilities with fair values that have been significantly affected during the reporting period by changes in the instrument-specific credit risk, the estimated amount of gains and losses from fair value changes included in earnings that are attributable to changes in the instrument-specific credit risk; and (3) certain other disclosures as required or determined to be provided. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=6957238&loc=d3e14172-108612 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=6957238&loc=d3e14217-108612 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 28 -Subparagraph (c)(2),(d),(e) -URI http://asc.fasb.org/extlink&oid=6957238&loc=d3e14064-108612 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (a),(c)(1),(d)(1) -URI http://asc.fasb.org/extlink&oid=6957238&loc=d3e14172-108612 + Details
Name: | us-gaap_FairValueOptionQuantitativeDisclosuresTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration