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12. FAIR VALUE MEASUREMENTS (Tables) | 12 Months Ended
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Dec. 31, 2013
Fair Value Disclosures [Abstract] |
Significant assumptions | Significant assumptions used and related fair values for the warrants as of December 31, 2013 were as follows:
Original Issuance |  | Exercise Price |  |  | Volatility |  |  | Risk Free Interest Rate |  |  | Term (years) |  |  | Market Discount |  |  | Warrants Outstanding |  |  | Fair Value |
06/21/2013 |  | $ | 7.59 |  |  |  | 52.4% |  |  |  | 0.13% |  |  |  | 1.24 |  |  |  | 22.7% |  |  |  | 1,051,000 |  |  | $ | 660,000 |
03/28/2013 |  | $ | 7.59 |  |  |  | 52.4% |  |  |  | 0.13% |  |  |  | 1.20 |  |  |  | 22.7% |  |  |  | 788,000 |  |  |  | 495,000 |
01/11/2013 |  | $ | 6.32 |  |  |  | 63.3% |  |  |  | 1.27% |  |  |  | 4.03 |  |  |  | 43.8% |  |  |  | 1,709,000 |  |  |  | 2,892,000 |
09/26/2012 |  | $ | 8.85 |  |  |  | 58.5% |  |  |  | 0.38% |  |  |  | 1.74 |  |  |  | 42.3% |  |  |  | 1,771,000 |  |  |  | 702,000 |
07/3/2012 |  | $ | 6.09 |  |  |  | 61.2% |  |  |  | 1.27% |  |  |  | 3.51 |  |  |  | 40.2% |  |  |  | 1,812,000 |  |  |  | 3,008,000 |
07/3/2012 |  | $ | 5.47 |  |  |  | 52.8% |  |  |  | 0.01% |  |  |  | 0.01 |  |  |  | 42.3% |  |  |  | 804,000 |  |  |  | 3,000 |
12/13/2011 |  | $ | 8.43 |  |  |  | 60.4% |  |  |  | 0.78% |  |  |  | 2.95 |  |  |  | 37.9% |  |  |  | 306,000 |  |  |  | 455,000 |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 8,215,000 |
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) |  |  | Market Discount |  |  | 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 |
Schedule of fair value measurements | The following table summarizes fair value measurements by level at December 31, 2013 (in thousands):
|  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |
Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commodity contracts(1) |  | $ | 961 |  |  | $ | – |  |  | $ | – |  |  | $ | 961 |
Total Assets |  | $ | 961 |  |  | $ | – |  |  | $ | – |  |  | $ | 961 |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Warrants(2) |  | $ | – |  |  | $ | – |  |  | $ | 8,215 |  |  | $ | 8,215 |
Commodity contracts(3) |  |  | 859 |  |  |  | – |  |  |  | – |  |  |  | 859 |
Total Liabilities |  | $ | 859 |  |  | $ | – |  |  | $ | 8,215 |  |  | $ | 9,074 |
__________ (1) Included in other current assets in the consolidated balance sheets. (2) Included in warrant liabilities 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 |  | $ | – |  |  | $ | – |  |  | $ | 4,892 |  |  | $ | 4,892 |
Commodity contracts(2) |  |  | 167 |  |  |  | – |  |  |  | – |  |  |  | 167 |
Total Liabilities |  | $ | 167 |  |  | $ | – |  |  | $ | 4,892 |  |  | $ | 5,059 |
__________ (1) Included in other current assets in the consolidated balance sheets. (2) Included in other current liabilities in the consolidated balance sheets.
Level 3 fair value schedule |
|  | Warrants |  |  | Conversion Features |
Balance, December 31, 2011 |  | $ | 1,921 |  |  | $ | – |
Issuance of warrants in July offering |  |  | 3,380 |  |  |  | – |
Issuance of warrants in September offering |  |  | 1,658 |  |  |  | – |
Exercises of warrants |  |  | (113 | ) |  |  | – |
Adjustments to fair value for the period |  |  | (1,954 | ) |  |  | – |
Balance, December 31, 2012 |  | $ | 4,892 |  |  | $ | – |
Issuance of warrants in January offering |  | $ | 2,657 |  |  | $ | – |
Issuance of notes and warrants in March offering |  |  | 1,572 |  |  |  | 1,401 |
Issuance of notes in June offering |  |  | – |  |  |  | 2,929 |
Conversions of notes |  |  | – |  |  |  | (5,205 | )
Exercises of warrants |  |  | (260 | ) |  |  | – |
Adjustments to fair value for the period |  |  | (646 | ) |  |  | 875 |
Balance, December 31, 2013 |  | $ | 8,215 |  |  | $ | – |

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- Definition Tabular disclosure of the effect of fair value measurements using significant unobservable inputs (Level 3) on changes in plan assets of pension plans and/or other employee benefit plans for the period. + 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 (d)(4) -URI http://asc.fasb.org/extlink&oid=28361610&loc=d3e1928-114920 + Details
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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: 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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