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Common Shares | 12 Months Ended
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Dec. 31, 2016
Capital Stock [Abstract] |
Common Shares | 6. Common Shares Public Offering, August 2016 During August 2016, we closed a public offering of 12,362,500 units (the “Units”), which included 1,612,500 Units issued pursuant to the full exercise of the underwriters’ over-allotment option, for net proceeds of $15,883 (the “2016 Offering”). Each Unit consisted of one common share in the capital of the Company (“Common Share”) and one-half of one Common Share purchase warrant (each full warrant, a “2016 Warrant”). A total of 6,514,625 2016 Warrants were issued, including 333,375 broker warrants issued to the underwriters. Each 2016 Warrant entitles the holder thereof to purchase one Common Share at a price of $1.92 per Common Share (subject to adjustment in certain circumstances) and is exercisable for a period of 36 months from the closing of the 2016 Offering. The 2016 Warrants, which are classified as equity, had a fair value of $3,320 at the time of the 2016 Offering. The fair value of 2016 Warrants was estimated at the grant date using the Black-Scholes option pricing model using the following assumptions: 1) expected volatility of 89%, 2) risk-free rate of 0.86%, 3) expected life of 3 years, and 4) stock price on the issue date of $1.13 per Common Share. Other Share Issuances During the years ended December 31, 2016, 2015 and 2014, we issued 2,540,546, 493,345 and 115,000 common shares, respectively, in connection with the vesting of RSUs and/or stock option exercises. Warrants Warrant activity is summarized in the following table:
|  |  |  | Weighted |  | Weighted |  |  |  |
|  |  |  | average |  | average |  |  |  |
|  | Warrants |  | exercise price |  | remaining life |  |  |  |
|  | outstanding |  | per share |  | (yrs.) |  | Intrinsic value |
As of December 31, 2013 |  | 19,977,743 |  | $ | 4.63 |  | 1.6 |  | $ | — |
Expired (issued as part of equity financing completed in 2012) |  | (4,757,941) |  |  |  |  |  |  |  |  |
As of December 31, 2014 |  | 15,219,802 |  | $ | 5.00 |  | 0.8 |  | $ | — |
Expired (issued as part of equity financing completed in 2010) |  | (15,219,802) |  |  |  |  |  |  |  |  |
As of December 31, 2015 |  | — |  | $ | — |  | — |  | $ | — |
Issued |  | 6,514,625 |  |  | 1.92 |  | 2.6 |  |  | — |
As of December 31, 2016 |  | 6,514,625 |  | $ | 1.92 |  | 2.6 |  | $ | — |
Stock-Based Compensation Under our Stock Option Plan (the “Plan”) and our Long-Term Equity Incentive Plan (the “LTIP”), we may grant options and/or RSUs or restricted stock awards to our directors, officers, employees and consultants. The combined maximum number of our Common Shares that may be reserved for issuance under the Plan and the LTIP is a variable number equal to 10% of the issued and outstanding Common Shares on a non-diluted basis. Options and RSUs under the Plan and LTIP, respectively, are granted from time to time at the discretion of the Board, with vesting periods and other terms as determined by the Board. Stock-based compensation expense for the years ended December 31, 2016, 2015 and 2014 is as follows:
|  | Year Ended December 31, |
|  | 2016 |  | 2015 |  | 2014 |
Stock options |  | $ | 23 |  | $ | 8 |  | $ | 160 |
Restricted stock units |  |  | 622 |  |  | 809 |  |  | 966 |
|  | $ | 645 |  | $ | 817 |  | $ | 1,126 |
As of December 31, 2016, stock options and RSUs had unrecognized compensation expense of $39 and $582, respectively, which is expected to be recognized over a weighted average period of 1.23 and 1.4 years, respectively. Stock Options A summary of option activity under the Plan as of December 31, 2016, 2015 and 2014 and changes during the period then ended is set forth in the following table:
|  |  |  | Weighted average |  | Weighted average |  | Aggregate |
|  | Number of |  | exercise price |  | remaining |  | intrinsic |
|  | options |  | per option |  | contractual term |  | value |
Outstanding - December 31, 2013 |  | 2,882,500 |  | $ | 1.79 |  | 3.07 |  | $ | 54 |
Granted |  | 175,000 |  |  | 0.52 |  |  |  |  | — |
Cancelled/Forfeited |  | (125,000) |  |  | 3.16 |  |  |  |  | — |
Expired |  | (675,000) |  |  | 1.85 |  |  |  |  | — |
Outstanding - December 31, 2014 |  | 2,257,500 |  |  | 1.60 |  | 3.02 |  |  | — |
Outstanding - December 31, 2015 |  | 2,257,500 |  |  | 1.60 |  | 2.02 |  |  | — |
Granted |  | 50,000 |  |  | 1.11 |  |  |  |  | — |
Exercised |  | (65,500) |  |  | 0.39 |  |  |  |  | 42 |
Expired |  | (697,500) |  |  | 2.91 |  |  |  |  | — |
Outstanding - December 31, 2016 |  | 1,544,500 |  | $ | 1.05 |  | 1.79 |  | $ | 626 |
Exercisable - December 31, 2016 |  | 1,248,250 |  | $ | 1.18 |  | 1.64 |  | $ | 480 |
A summary of our unvested stock options as of December 31, 2016, 2015 and 2014 and changes during the period then ended is set forth in the following table:
|  |  |  |  |  |  | Weighted |
|  |  |  | Weighted |  | average |
|  |  |  | average |  | remaining |
|  |  |  | grant-date |  | amortization |
|  | Number of |  | fair value |  | period |
|  | options |  | per option |  | (Years) |
Unvested - December 31, 2013 |  | 738,750 |  | $ | 0.22 |  | 4.99 |
Granted |  | 175,000 |  |  | 0.30 |  |  |
Vested |  | (667,500) |  |  | 0.24 |  |  |
Unvested - December 31, 2014 |  | 246,250 |  |  | 0.22 |  | 3.99 |
Unvested - December 31, 2015 |  | 246,250 |  |  | 0.22 |  | 3.00 |
Granted |  | 50,000 |  |  | 0.69 |  |  |
Unvested - December 31, 2016 |  | 296,250 |  |  | 0.49 |  | 1.23 |
The fair value of stock options granted during the years ended December 31, 2016 and 2014 (no stock options were granted for the year ended December 31, 2015) to employees, directors and consultants was estimated at the grant date using the Black-Scholes option pricing model using the following assumptions:
|  | Year Ended December 31, |
|  | 2016 |  |  | 2015 |  |  | 2014 |  |
Expected volatility |  | 77.68 | % |  | — | % |  | 69.17 | % |
Risk-free interest rate |  | 1.12 | % |  | — | % |  | 1.75 | % |
Expected life (years) |  | 5 |  |  | — |  |  | 5 |  |
Dividend yield |  | N/A |  |  | — |  |  | N/A |  |
Forfeiture assumption |  | 0 | % |  | — | % |  | 10 | % |
Option pricing models require the input of highly subjective assumptions, including the expected price volatility. Expected price volatility is based on the historical volatility of our common shares. Changes in the subjective input assumptions can materially affect the fair value estimate. The expected term of the options granted represents the period of time that the options granted are expected to be outstanding. The risk-free rate for the periods within the contractual term of the option is based on the U.S. Treasury yield curve in effect at the date of grant. Restricted Stock Units The following table summarizes the RSU activity under the LTIP as of December 31, 2016, 2015 and 2014 and changes during the years then ended:
|  |  |  | Weighted average |
|  | Number |  | grant-date fair |
|  | of units |  | value per unit |
Unvested - December 31, 2013 |  | 2,594,464 |  | $ | 2.00 |
Cancelled/forfeited |  | (865,635) |  |  | 3.42 |
Vested |  | (115,000) |  |  | 3.84 |
Granted |  | 2,079,000 |  |  | 0.46 |
Unvested - December 31, 2014 |  | 3,692,829 |  | $ | 0.74 |
Cancelled/forfeited |  | (841,038) |  |  | 0.73 |
Vested |  | (493,345) |  |  | 1.62 |
Granted |  | 1,727,000 |  |  | 0.27 |
Unvested - December 31, 2015 |  | 4,085,446 |  | $ | 0.44 |
Vested |  | (2,475,046) |  |  | 0.32 |
Granted |  | 1,057,987 |  |  | 0.84 |
Unvested - December 31, 2016 |  | 2,668,387 |  | $ | 0.49 |
A portion of the RSU awards vest on a fixed future date provided the recipient continues to be affiliated with Vista on that date. Other RSU awards vest subject to certain performance and market criteria, including the accomplishment of certain corporate objectives and the Company’s share price performance. The vesting period for all RSUs is at least one year. Weighted Average Common Shares
|  | At December 31, |
|  | 2016 |  | 2015 |  | 2014 |
Basic common shares |  | 89,064,260 |  | 82,571,182 |  | 82,294,331 |
Effect of dilutive stock-based awards |  | — |  | 1,183,898 |  | — |
Diluted common shares |  | 89,064,260 |  | 83,755,080 |  | 82,294,331 |
Stock options to purchase 1,544,500 common shares, unvested RSUs representing 2,668,387 common shares and 6,514,625 warrants were outstanding at December 31, 2016 but were not included in the computation of diluted weighted average common shares outstanding because their effect would have been anti-dilutive. Stock options to purchase 2,257,500 common shares and unvested RSUs representing 2,901,548 common shares were outstanding at December 31, 2015 but were not included in the computation of diluted weighted average common shares outstanding because their effect would have been anti-dilutive. Stock options to purchase 2,257,500 common shares, unvested RSUs representing 3,692,829 common shares, and warrants to purchase 15,219,802 common shares were outstanding at December 31, 2014 but were not included in the computation of diluted weighted average common shares outstanding because their effect would have been anti-dilutive.

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- Definition The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(d),(e)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21484-112644 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SAB TOPIC 4.E) -URI http://asc.fasb.org/extlink&oid=27010918&loc=d3e74512-122707 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21488-112644 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.29-31) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section S99 -Paragraph 4 -Subparagraph (SAB TOPIC 4.C) -URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187143-122770 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21506-112644 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.3-04) -URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187085-122770 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 30 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6405834&loc=d3e23285-112656 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Preferred Stock -URI http://asc.fasb.org/extlink&oid=6521494 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21463-112644 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21564-112644 Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 4 -Section E Reference 15: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 4 -Section C + Details
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