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FAIR VALUE (Tables)
 3 Months Ended
Mar. 31, 2014
Fair Value  
Schedule of financial assets and liabilities measured on a recurring basis

The fair value of the Company’s financial assets and liabilities that are measured on a recurring basis were determined using the following inputs as of December 31, 2013 (in $000s):

 

    Level 1     Level 2     Level 3     Total  
                         
ASSETS                                
Cash equivalents   $ 26,476     $ —     $ —     $ 26,476  
Financial instrument associated with stock Purchase Agreement     —       397       —       397  
Total assets   $ 26,476     $ 397     $ —     $ 26,873  
                                 
LIABILITIES                                
Other liabilities measured at fair value:                                
Scottish Enterprise agreement     —       —       20       20  
Other liabilities measured at fair value     —       —       20       20  
Total liabilities   $ —     $ —     $ 20     $ 20  

 

The fair value of the Company’s financial assets and liabilities that are measured on a recurring basis were determined using the following inputs as of March 31, 2014 (in $000s):

 

    Level 1     Level 2     Level 3     Total  
ASSETS                                
Cash equivalents   $ 22,648     $ —     $ —     $ 22,648  
Financial instrument associated with stock Purchase Agreement     —       350       —       350  
Total assets   $ 22,648     $ 350     $ —     $ 22,998  
                                 
LIABILITIES                                
Other liabilities measured at fair value:                                
Scottish Enterprise agreement   $ —     $ —     $ 20     $ 20  
Other liabilities measured at fair value     —       —       20       20  
Total liabilities   $ —     $ —     $ 20     $ 20