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CONVERTIBLE PREFERRED STOCK AND WARRANTS (Tables)
 12 Months Ended
Dec. 31, 2013
Convertible Preferred Stock And Warrants Tables  
Proceeds from fair value offering
    Proceeds Allocated     Expenses Allocated  
             
Series A Preferred Stock   $ 2,616,250     $ 396,369  
Investor Warrants     4,383,750       664,151  
    $ 7,000,000     $ 1,060,520  

 
Reconciliation of changes in fair value warrants

The following represents a reconciliation of the changes in fair value of warrants measured at fair value using Level 3 inputs during the year ended December 31, 2013: 

 

(in $ thousands)   2013 Investor Warrants     2013 Placement Agent Warrants     2010 Investor Warrants     2010 Placement Agent Warrants     Total  
                               
Balance, December 31, 2012   $ -     $ -     $ 71     $ 14     $ 85  
                                         
Issuances – December 13, 2013     4,384       438       -       -       4,822  
                                         
Fair value adjustments:                                        
  Effect of change in exercise price     -       -       613       -       613  
  Change in fair value     215       22       5       (13 )     229  
                                         
Balance, December 31, 2013   $ 4,599     $ 460     $ 689     $ 1     $ 5,749