Fair Value Measurements (Tables)

3 Months Ended

Jun. 30, 2014

Schedule of Assets and Liabilities Carried at Fair Value

The following table provides the assets and liabilities carried at fair value, measured as of June 30, 2014 and March 31, 2014 (in thousands):

	Total		Quoted Prices in		Significant Other		Significant
	Carrying		Active Markets		Observable Inputs		Unobservable Inputs
	Value		(Level 1)		(Level 2)		(Level 3)
June 30, 2014:
Assets:
Cash equivalents	$	22,180	$	22,180	$	-	$	-
Derivative liabilities:
Warrants	$	2,636	$	-	$	-	$	2,636

	Total		Quoted Prices in		Significant Other		Significant
	Carrying		Active Markets		Observable Inputs		Unobservable Inputs
	Value		(Level 1)		(Level 2)		(Level 3)
March 31, 2014:
Assets:
Cash equivalents	$	17,675	$	17,675	$	-	$	-
Derivative liabilities:
Warrants	$	2,601	$	-	$	-	$	2,601

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 (in thousands):


				Warrants
April 1, 2014				$	2,601
Mark to market adjustment					35
Balance at June 30, 2014				$	2,636

	Derivative
	Liability			Warrants
April 1, 2013	$	529		$	3,633
Warrant issuance with Senior Secured Term Loan		-			315
Mark to market adjustment		(525	)		(1,347	)
Extinguishment of derivative liability		(4	)		-
Balance at March 31, 2014	$	-		$	2,601

Schedule of Assets and Liabilities Measured at Fair Value on a Non-Recurring Basis

The following table provides the assets and liabilities measured at fair value on a non-recurring basis, as of March 31, 2014 (in thousands). As no indicators of impairment existed during the current quarter, there were no assets to be measured at fair value on a non-recurring basis as of June 30, 2014.

Total

Quoted Prices in

Significant Other

Significant

Carrying

Active Markets

Observable Inputs

Unobservable Inputs

Value

(Level 1)

(Level 2)

(Level 3)

March 31, 2014:

Assets:

Investment in unconsolidated entity – Blade Dynamics

3,690