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FAIR VALUE MEASUREMENTS (Tables) | 12 Months Ended
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Dec. 31, 2012
FAIR VALUE MEASUREMENTS [Abstract] |
Financial instruments measured at fair value | The following table summarizes our financial instruments measured at fair value as of December 31, 2012 (in thousands):
|  | December 31, 2012 Fair Value Measurements |
|  | Total |  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |
Assets: |  |  |  |  |  |  |  |  |  |  |  |
Cash and equivalents – United States |  | $ | 4,162 |  |  | $ | 4,162 |  |  | $ | – |  |  | $ | – |
Cash and equivalents - Foreign currency |  |  | -- |  |  |  | -- |  |  |  | – |  |  |  | – |
Total assets |  | $ | 4,162 |  |  | $ | 4,162 |  |  | $ | – |  |  | $ | – |
Derivative Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Warrant liability (1) |  | $ | 85 |  |  | $ | – |  |  | $ | – |  |  | $ | 85 |
Total liabilities |  | $ | 85 |  |  | $ | – |  |  | $ | – |  |  | $ | 85 |
The following table summarizes our financial instruments measured at fair value as of December 31, 2011 (in thousands):
|  | December 31, 2011 Fair Value Measurements |
|  | Total |  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |
Assets: |  |  |  |  |  |  |  |  |  |  |  |
Cash and equivalents – United States |  | $ | 4,870 |  |  | $ | 4,870 |  |  | $ | – |  |  | $ | – |
Cash and equivalents - Foreign currency |  |  | 10 |  |  |  | 10 |  |  |  | – |  |  |  | – |
Total assets |  | $ | 4,880 |  |  | $ | 4,880 |  |  | $ | – |  |  | $ | – |
Derivative Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Warrant liability (1) |  | $ | 105 |  |  | $ | – |  |  | $ | – |  |  | $ | 105 |
Total liabilities |  | $ | 105 |  |  | $ | – |  |  | $ | – |  |  | $ | 105 |
(1) | On April 18, 2010, we entered into a securities purchase agreement with purchasers named therein to raise in the aggregate of approximately $3 million in a private placement of common stock and warrants pursuant to Section 4(2) of the Securities Act of 1933, as amended, and/or Regulation D promulgated thereunder. Upon closing of the transaction, we entered into a registration rights agreement with the buyers and issued to the buyers an aggregate of 571,429 shares of common stock at a per share price of $5.25, and warrants to acquire additional shares of common stock of up to 50% of the common shares acquired by each respective buyer at an exercise price of $6.00 per share.
Changes in fair value measurements using significant unobservable inputs (Level 3) | Changes in Fair Value Measurements Using Significant Unobservable Inputs (Level 3) (in thousands):
Description |  | Year Ended December 31, 2012 |  |  | Year Ended December 31, 2011 |
Beginning balance |  | $ | 105 |  |  | $ | 504 |
Purchases, issuances, and settlements |  |  | -- |  |  |  | -- |
Reduced Lican liability from settlement |  |  | -- |  |  |  | (111) |
Total gain included in earnings (2) |  |  | (20) |  |  |  | (288) |
Ending balance |  | $ | 85 |  |  | $ | 105 |
(2) | Gains for the period ended December 31, 2012 related to the revaluation of equity based liabilities. The gains related to the warrant liability portion were calculated from the date of the warrant issuance (April 18, 2010) through December 31, 2012. These gains and losses are reflected in our consolidated statements of operations as a component of other income (expense).

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- Definition Tabular disclosure related to assets and liabilities by class, including financial instruments measured at fair value that are classified in shareholders' equity, if any, that are measured at fair value on a recurring and/or nonrecurring basis in periods after initial recognition. Disclosures include, but are not limited to: (a) the fair value measurements recorded and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements are categorized in their entirety (levels 1, 2, 3) as well as transfers between levels 1 and 2. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 157 -Paragraph 6 -Footnote 4 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 2: 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=7578670&loc=d3e19207-110258 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 157 -Paragraph 32 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 4: 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=7578670&loc=SL7498348-110258 Reference 5: 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=7578670&loc=d3e19279-110258 Reference 6: 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=7578670&loc=d3e19190-110258 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 157 -Paragraph 33 -Subparagraph a, b -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. + Details
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- Definition Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period 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 asset. + 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 (c) -URI http://asc.fasb.org/extlink&oid=7578670&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 3 -URI http://asc.fasb.org/extlink&oid=7578670&loc=d3e19279-110258 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 157 -Paragraph 32 -Subparagraph c -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. + Details
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