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Derivative Warrant Liabilities (Tables)
12 Months Ended
Dec. 31, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Outstanding Warrants Liabilities

The remaining outstanding warrants and terms as of December 31, 2017 and 2016 is as follows:

 

Issuance Date  

Outstanding

as of

December 31, 2016

   

Outstanding

as of

December 31, 2017

   

Exercise

Price

   

Exercisable

as of

December 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)     10,047       9,279     $ 2.70       9,279     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. As such anti-dilution price protection does not meet the specific conditions for equity classification, the Company is required to classify the fair value of these warrants as a liability, with changes in fair value to be recorded as income (loss) due to change in fair value of warrant liability. The estimated fair value of our warrant liability at December 31, 2017 and December 31, 2016, was approximately $28 and $313, respectively.

Schedule of Valuation of Derivative Warrant Liabilities

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

 

    Series A
(2011)
    Series A (2013)     Series A (2013)     Series A (2015)     Series A
(2016)
    Series B
(2016)
    Total  
Balances at December 31, 2016   $ -     $ 12     $ 9     $ 22     $ 43     $ 227     $ 313  
Exercised     -       -       -       -       -       -       -  
Cancelled     -       -       -       -       -       -       -  
Changes in fair value     -       (12 )     (9 )     (22 )     (43 )     (199 )     (285 )
Balances at December 31, 2017   $ -     $ -     $ -     $ -     $ (* )   $ 28     $ 28  

 

 

(*) Less than 1

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, 2017 and December 31, 2016:

 

    As of December 31, 2017     As of December 31, 2016  
    Series A (2016)     Series B (2016)     Series A (2016)     Series B (2016)  
Share price   $ 1.02     $ 1.02     $ 6.10     $ 6.10  
Exercise price   $ 2.70     $ 2.70     $ 2.70     $ 2.70  
Expected volatility     60 %     119 %     380 %     380 %
Risk-free interest     1.24 %     1.89 %     0.85 %     1.93 %
Dividend yield                        
Expected life of up to (years)     0.25       4.25       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     (285 )
Exercise warrants     (* )
As of December 31, 2017   $ 28  

 

(*) Less than 1 

 

    Derivative warrant liabilities  
As of November 30, 2016   $ 575  
Revaluation of warrants     (262 )
Exercise warrants     (* )
As of December 31, 2016   $ 313  

 

 

(*) Less than 1