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Stockholders' Equity (Tables)
6 Months Ended
Jun. 30, 2012
Stockholders' Equity [Abstract]  
Fair value of the warrants

The fair value of the warrants at June 30, 2012, and December 31, 2011, consisted of the following (in thousands):

 

                 
    June 30,
2012
    December 31,
2011
 

2009 Warrants

  $ 2,772     $ 3,010  

2010 Warrants

    5,977       4,969  
   

 

 

   

 

 

 

Total warrant liability

  $ 8,749     $ 7,979  
   

 

 

   

 

 

 
Fair value assumptions of warrants

The fair value of the Company’s warrants was based on using the binomial-lattice option valuation model and using the following assumptions at June 30, 2012, and December 31, 2011:

 

                 
    June 30,
2012
    December 31,
2011
 

2009 Warrants:

               

Expected term (in years)

    2.15       2.65  

Estimated volatility

    52     74

Risk-free interest rate

    0.33     0.36

Expected dividend yield

    0     0

2010 Warrants:

               

Expected term (in years)

    3.36       3.86  

Estimated volatility

    70     70

Risk-free interest rate

    0.41     0.60

Expected dividend yield

    0     0