XML 40 R29.htm IDEA: XBRL DOCUMENT v3.7.0.1
Derivative Warrant Liabilities (Tables)
 3 Months Ended
Mar. 31, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Outstanding Warrants Liabilities

  The remaining outstanding warrants as of March 31, 2017 are as follows:

 

Issuance Date  

Outstanding

as of

December 31, 2016

    

Outstanding

as of

March 31, 2017

     Exercise
Price		    

Exercisable

as of

March 31, 2017

     Exercisable Through  
                               
Series A (2011)     64,230       -     $ 151.20       -       December 2016  
Series A (2013)     57,814       57,814     $ 194.40       57,814       October 2018  
Series A (2013)     2,718       2,718     $ 183.60       2,718       April 2023  
Series A (2015)     10,139       10,139     $ 91.80       10,139       April 2020  
Series A (2016) (a)(b)     10,047       9,279     $ 2.70       10,047       March 2018  
Series B (2016) (a)     41,116       41,116     $ 2.70       41,116       March 2022  

 

 

  (a) These warrants contain a full ratchet anti-dilution price protection so that, in most situations upon the issuance of any common stock or securities convertible into common stock at a price below the then-existing exercise price of the outstanding warrants, the warrant exercise price will be reset to the lower common stock sales price.
     
  (b) On March 2017, an institutional holder executed a cashless exercise of 768 warrants and 359 shares of common stock were issued in connection therewith.
Schedule of Fair Value Assumption

  The following table summarizes the observable inputs used in the valuation of the derivative warrant liabilities as of December 31, 2016 and March 31, 2017:

 

    As of
March 31, 2017		     As of
December 31, 2016		  
    Series A (2016)     Series B (2016)     Series A (2016)     Series B (2016)  
                         
Share price   $ 5.81     $ 5.81     $ 6.10     $ 6.10  
Exercise price   $ 2.70     $ 2.70     $ 2.70     $ 2.70  
Expected volatility     90 %     90 %     380 %     380 %
Risk-free interest     1.03 %     1.93 %     0.85 %     1.93 %
Dividend yield     —       —       —       —  
Expected life of up to (years)     1       5       1.2       5.2  
Schedule of Liabilities Measured On a Recurring Basis

Activity in such liabilities measured on a recurring basis is as follows:

 

    Derivative
warrant liabilities		  
As of December 31, 2016   $ 313  
Revaluation of warrants     (88 )
Exercise warrants (see note 7(b))    

(*)

  
As of March 31, 2017   $ 225