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16. FAIR VALUE MEASUREMENTS (Tables) | 12 Months Ended
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Dec. 31, 2015
Fair Value Disclosures [Abstract] |
Significant assumptions | Significant assumptions used and related fair values for the warrants as of December 31, 2015 were as follows:
Original Issuance |  |  | Exercise Price |  |  | Volatility |  |  | Risk Free Interest Rate |  |  | Term (years) |  |  | Market Discount |  |  | Warrants Outstanding |  |  | Fair Value |
| 07/3/2012 |  |  | $ | 6.09 |  |  |  | 49.1% |  |  |  | 0.86% |  |  |  | 1.51 |  |  |  | 22.9% |  |  |  | 211,000 |  |  |  | 200,000 |
| 12/13/2011 |  |  | $ | 8.43 |  |  |  | 48.4% |  |  |  | 0.65% |  |  |  | 0.95 |  |  |  | 18.3% |  |  |  | 138,000 |  |  |  | 73,000 |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 273,000 |
Significant assumptions used and related fair values for the warrants as of December 31, 2014 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 |  |  |  | 51.0% |  |  |  | 0.19% |  |  |  | 0.74 |  |  |  | 37.0% |  |  |  | 473,000 |  |  |  | 748,000 |
| 07/3/2012 |  |  | $ | 6.09 |  |  |  | 56.1% |  |  |  | 0.89% |  |  |  | 2.51 |  |  |  | 32.8% |  |  |  | 211,000 |  |  |  | 811,000 |
| 12/13/2011 |  |  | $ | 8.43 |  |  |  | 54.3% |  |  |  | 0.67% |  |  |  | 1.95 |  |  |  | 28.7% |  |  |  | 138,000 |  |  |  | 427,000 |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 1,986,000 |
Schedule of fair value measurements | The following table summarizes recurring fair value measurements by level at December 31, 2015 (in thousands):
|  |  | Fair Value |  |  |  | Level 1 |  |  |  | Level 2 |  |  |  | Level 3 |  |  |  | Benefit Plan Percentage Allocation |
Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivative financial instruments(1) |  | $ | 2,081 |  |  | $ | 2,081 |  |  | $ | – |  |  | $ | – |  |  |  |  |
Defined benefit plan assets(2) (pooled separate accounts): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Large U.S. Equity (3) |  |  | 3,662 |  |  |  | – |  |  |  | 3,662 |  |  |  | – |  |  |  | 29% |
Small/Mid U.S. Equity(4) |  |  | 1,099 |  |  |  | – |  |  |  | 1,099 |  |  |  | – |  |  |  | 9% |
International Equity(5) |  |  | 1,525 |  |  |  | – |  |  |  | 1,525 |  |  |  | – |  |  |  | 12% |
Fixed Income(6) |  |  | 6,281 |  |  |  | – |  |  |  | 6,281 |  |  |  | – |  |  |  | 50% |
|  | $ | 14,648 |  |  | $ | 2,081 |  |  |  | 12,567 |  |  | $ | – |  |  |  |  |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Warrants (7) |  | $ | (273 | ) |  | $ | – |  |  | $ | – |  |  | $ | (273 | ) |  |  |  |
Derivative financial instruments(8) |  |  | (1,848 | ) |  |  | (1,848 | ) |  |  | – |  |  |  | – |  |  |  |  |
|  | $ | (2,121 | ) |  | $ | (1,848 | ) |  | $ | – |  |  | $ | (273 | ) |  |  |  |
The following table summarizes recurring fair value measurements by level at December 31, 2014 (in thousands):
|  |  | Fair Value |  |  |  | Level 1 |  |  |  | Level 2 |  |  |  | Level 3 |
Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivative financial instruments(1) |  | $ | 1,586 |  |  | $ | 1,586 |  |  | $ | – |  |  | $ | – |
|  | $ | 1,586 |  |  | $ | 1,586 |  |  | $ | – |  |  | $ | – |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Warrants |  | $ | (1,986 | ) |  | $ | – |  |  | $ | – |  |  | $ | (1,986 | )
Derivative financial instruments |  |  | (1,149 | ) |  |  | (1,149 | ) |  |  | – |  |  |  | – |
|  | $ | (3,135 | ) |  | $ | (1,149 | ) |  | $ | – |  |  | $ | (1,986 | )
__________
| (1) | Included in other current assets in the consolidated balance sheets.
| (2) | See Note __ for accounting discussion
(3) This category includes investments in funds comprised of equity securities of large U.S. companies. The funds are valued using the net asset value method in which an average of the market prices for the underlying investments is used to value the fund.
| (4) | This category includes investments in funds comprised of equity securities of small- and medium-sized U.S. companies. The funds are valued using the net asset value method in which an average of the market prices for the underlying investments is used to value the fund.
| (5) | This category includes investments in funds comprised of equity securities of foreign companies including emerging markets. The funds are valued using the net asset value method in which an average of the market prices for the underlying investments is used to value the fund.
| (6) | This category includes investments in funds comprised of U.S. and foreign investment-grade fixed income securities, high-yield fixed income securities that are rated below investment-grade, U.S. treasury securities, mortgage-backed securities, and other asset-backed securities. The funds are valued using the net asset value method in which an average of the market prices for the underlying investments is used to value the fund.
| (7) | Included in warrant liabilities at fair value in the consolidated balance sheets.
| (8) | Included in accrued liabilities in the consolidated balance sheets.
Level 3 fair value schedule |
|  | Warrants |  |  | Conversion Features |
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 |  |  | $ | – |
Exercises of warrants |  |  | (41,486 | ) |  |  | – |
Expiration of warrants |  |  | (3 | ) |  |  | – |
Adjustments to fair value for the period |  |  | 35,260 |  |  |  | – |
Balance, December 31, 2014 |  | $ | 1,986 |  |  | $ | – |
Exercises of warrants |  |  | (72 | ) |  |  | – |
Expiration of warrants |  |  | (527 | ) |  |  | – |
Adjustments to fair value for the period |  |  | (1,114 | ) |  |  | – |
Balance, December 31, 2015 |  | $ | 273 |  |  | $ | – |

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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=36462937&loc=d3e19190-110258 + Details
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