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9. FAIR VALUE MEASUREMENTS (Tables) | 9 Months Ended
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Sep. 30, 2013
Fair Value Disclosures [Abstract] |
Assumptions used and related fair values for warrants | Significant assumptions used and related fair values for the warrants as of September 30, 2013 were as follows:
Original Issuance |  | Exercise Price |  |  | Volatility |  |  | Risk-Free Interest Rate |  |  | Term (years) |  |  | Discount for marketability restrictions |  |  | Warrants Outstanding |  |  | Fair Value |
06/21/2013 |  | $ | 7.70 |  |  |  | 58.7% |  |  |  | 0.22% |  |  |  | 1.49 |  |  |  | 27.7% |  |  |  | 1,051,200 |  |  | $ | 494,600 |
03/28/2013 |  | $ | 7.70 |  |  |  | 58.7% |  |  |  | 0.22% |  |  |  | 1.49 |  |  |  | 27.7% |  |  |  | 788,400 |  |  |  | 370,300 |
01/11/2013 |  | $ | 6.60 |  |  |  | 64.7% |  |  |  | 1.01% |  |  |  | 4.28 |  |  |  | 46.5% |  |  |  | 1,708,700 |  |  |  | 1,940,500 |
09/26/2012 |  | $ | 8.85 |  |  |  | 61.6% |  |  |  | 0.33% |  |  |  | 1.99 |  |  |  | 46.5% |  |  |  | 1,770,800 |  |  |  | 315,000 |
07/3/2012 |  | $ | 6.36 |  |  |  | 63.7% |  |  |  | 1.01% |  |  |  | 3.76 |  |  |  | 43.5% |  |  |  | 1,812,400 |  |  |  | 2,018,100 |
07/3/2012 |  | $ | 5.68 |  |  |  | 48.2% |  |  |  | 0.02% |  |  |  | 0.26 |  |  |  | 42.8% |  |  |  | 803,900 |  |  |  | 34,700 |
12/13/2011 |  | $ | 8.92 |  |  |  | 61.0% |  |  |  | 0.63% |  |  |  | 3.21 |  |  |  | 39.9% |  |  |  | 305,700 |  |  |  | 318,000 |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 5,491,200 |
Significant assumptions used and related fair values for the warrants as of December 31, 2012 were as follows:
Original Issuance |  | Exercise Price |  |  | Volatility |  |  | Risk-Free Interest Rate |  |  | Term (years) |  |  | Discount for marketability restrictions |  |  | Warrants Outstanding |  |  | Fair Value |
09/26/2012 |  | $ | 8.85 |  |  |  | 70.2% |  |  |  | 0.36% |  |  |  | 2.74 |  |  |  | 53.9% |  |  |  | 1,833,000 |  |  | $ | 1,112,000 |
07/3/2012 |  | $ | 7.50 |  |  |  | 76.1% |  |  |  | 0.72% |  |  |  | 4.51 |  |  |  | 55.5% |  |  |  | 1,867,000 |  |  |  | 2,756,000 |
07/3/2012 |  | $ | 6.45 |  |  |  | 69.3% |  |  |  | 0.16% |  |  |  | 1.01 |  |  |  | 55.5% |  |  |  | 930,000 |  |  |  | 509,000 |
12/13/2011 |  | $ | 12.45 |  |  |  | 74.4% |  |  |  | 0.54% |  |  |  | 3.95 |  |  |  | 52.3% |  |  |  | 330,000 |  |  |  | 480,000 |
10/6/2010 |  | $ | 1.80 |  |  |  | 76.0% |  |  |  | 0.72% |  |  |  | 4.80 |  |  |  | 46.4% |  |  |  | 17,000 |  |  |  | 35,000 |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 4,892,000 |
Assumptions used and related fair value for conversion feature | Significant assumptions used and related fair value for the conversion feature as of September 30, 2013 were as follows:
Instrument |  | Initial Conversion Price |  |  | Volatility |  |  | Risk-Free Interest Rate |  |  | Term (years) |  |  | Discount for marketability restrictions |  |  | Fair Value |
Series B Notes |  | $ | 15.00 |  |  |  | 50.7% |  |  |  | 0.04% |  |  |  | 0.50 |  |  |  | 14.2% |  |  | $ | 1,139,100 |
Summary of fair value measurements by level | The following table summarizes fair value measurements by level at September 30, 2013 (in thousands):
|  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |
Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commodity contracts(1) |  | $ | 128 |  |  | $ | – |  |  | $ | – |  |  | $ | 128 |
Total Assets |  | $ | 128 |  |  | $ | – |  |  | $ | – |  |  | $ | 128 |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Warrants(2) |  | $ | – |  |  | $ | – |  |  | $ | 5,491 |  |  | $ | 5,491 |
Conversion feature(2) |  |  | – |  |  |  | – |  |  |  | 1,139 |  |  |  | 1,139 |
Commodity contracts(3) |  |  | 44 |  |  |  | – |  |  |  | – |  |  |  | 44 |
Total Liabilities |  | $ | 44 |  |  | $ | – |  |  | $ | 6,630 |  |  | $ | 6,674 |
__________ (1) Included in other current assets in the consolidated balance sheets. (2) Included in warrant liabilities and conversion features at fair value in the consolidated balance sheets. (3) Included in accrued liabilities in the consolidated balance sheets. The following table summarizes fair value measurements by level at December 31, 2012 (in thousands):
|  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |
Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commodity contracts(1) |  | $ | 189 |  |  | $ | – |  |  | $ | – |  |  | $ | 189 |
Total Assets |  | $ | 189 |  |  | $ | – |  |  | $ | – |  |  | $ | 189 |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Warrants(2) |  | $ | – |  |  | $ | – |  |  | $ | 4,892 |  |  | $ | 4,892 |
Commodity contracts(3) |  |  | 167 |  |  |  | – |  |  |  | – |  |  |  | 167 |
Total Liabilities |  | $ | 167 |  |  | $ | – |  |  | $ | 4,892 |  |  | $ | 5,059 |
__________ (1) Included in other current assets in the consolidated balance sheets. (2) Included in warrant liabilities and conversion features at fair value in the consolidated balance sheets. (3) Included in accrued liabilities in the consolidated balance sheets.
Changes in fair value of Level 3 inputs | The changes in the Company’s fair value of its Level 3 inputs were as follows (in thousands):
|  | Warrants |  |  | Conversion Features |
Balance, December 31, 2012 |  | $ | 4,892 |  |  | $ | – |
Issuance of warrants in January offering |  |  | 2,657 |  |  |  | – |
Issuance of notes and warrants on March 28, 2013 |  |  | 1,572 |  |  |  | 1,401 |
Issuance of notes on June 21, 2013 |  |  | – |  |  |  | 2,929 |
Conversions of notes |  |  | – |  |  |  | (4,269 | )
Exercises of warrants |  |  | (260 | ) |  |  | – |
Adjustments to fair value |  |  | (3,370 | ) |  |  | 1,078 |
Balance, September 30, 2013 |  | $ | 5,491 |  |  | $ | 1,139 |

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- Definition Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a,b,bb) -URI http://asc.fasb.org/extlink&oid=25499696&loc=d3e19207-110258 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2C -URI http://asc.fasb.org/extlink&oid=25499696&loc=SL7498348-110258 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=25499696&loc=d3e19279-110258 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=25499696&loc=d3e19190-110258 + Details
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- Definition 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. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=25499696&loc=d3e19279-110258 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=25499696&loc=d3e19207-110258 + Details
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- Definition Tabular disclosure of the assumptions used to determine for pension plans and/or other employee benefit plans the benefit obligation and net benefit cost, including assumed discount rates, rate increase in compensation increase, and expected long-term rates of return on plan assets. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (k) -URI http://asc.fasb.org/extlink&oid=28361610&loc=d3e1928-114920 + Details
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