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Assets and Liabilities Measured at Fair Value (Tables)

9 Months Ended

Sep. 30, 2013

Assets and Liabilities Measured at Fair Value [Abstract]

Schedule of fair value of the warrants

 

The fair value of the Warrants totaled $0.9 million at September 30, 2013 and was determined by using an option pricing model assuming the following:

		2012 Warrants				2009 Warrants
Expected volatility			93.89	%			105.91	%
Risk-free interest rates			0.27	%			0.07	%
Expected life (in years)			1.75				0.75

Assets and liabilities measured at fair value on a recurring basis

 

The table below presents the Company's assets and liabilities measured at fair value on a recurring basis as of September 30, 2013, aggregated by the level in the fair value hierarchy within which those measurements fall:

Assets and Liabilities Measured at Fair Value on a Recurring Basis at September 30, 2013

(in thousands)

	Level 1				Level 2				Level 3				Balance at September 30, 2013
Assets
Money market funds		$	1,956			$	—			$	—			$	1,956
Liabilities
Warrant liability		$	—			$	—			$	863			$	863

Fair value measurements using significant unobservable inputs

 

Fair Value Measurements Using Significant Unobservable Inputs (Level 3)

(in thousands)

		Warrant Liability
Beginning balance as of December 31, 2012		$	3,427
Total change in the liability included in earnings			(2,345	)
Fair value of warrants exercised			(219	)
Ending balance as of September 30, 2013		$	863

X

- Definition

Tabular disclosure of the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments, assets, and liabilities. Such certain disclosures about the financial instruments, assets, and liabilities include: (1) the fair value of the required items together with their carrying amounts (as appropriate) and (2) the methodology and assumptions used in developing such estimates of fair value.

+ References

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-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.



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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.



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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.



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-Publisher FASB

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Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income (loss) and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability.

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-Publisher FASB

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