Quarterly report pursuant to Section 13 or 15(d)

Fair Value Measurement (Tables)

v3.7.0.1
Fair Value Measurement (Tables)
 6 Months Ended
Jun. 30, 2017
Fair Value Disclosures [Abstract]  
Summary of Fair Values of Assets and Liabilities Measured at Fair Value on Recurring and NonRecurring Basis

The following table presents a summary of fair values of assets and liabilities that are re-measured at fair value at each balance sheet date as of June 30, 2017 and December 31, 2016, and their placement within the fair value hierarchy as discussed above (in thousands):

 

          Quoted
Prices in
Active
Markets 		    Significant
Other
Observable
Inputs 		    Unobservable
Inputs 		 
Description   June 30, 2017     (Level 1)     (Level 2)     (Level 3)  
Assets:                                
Cash and cash equivalents   $ 3,451     $ 3,451     $ -     $ -  
Total assets   $ 3,451     $ 3,451     $ -     $ -  
                                 
Liabilities:                                
Warrants potentially settleable in cash   $ 707     $ -     $ -     $ 707  
Total liabilities   $ 707     $ -     $ -     $ 707  

 

          Quoted
Prices in
Active
Markets 		    Significant
Other
Observable
Inputs 		    Unobservable
Inputs 		 
Description   December 31, 2016     (Level 1)     (Level 2)     (Level 3)  
Assets:                                
Cash and cash equivalents   $ 3,640     $ 3,640     $ -     $ -  
Total assets   $ 3,640     $ 3,640     $ -     $ -  
                                 
Liabilities:                                
Warrants potentially settleable in cash   $ 1,476     $ -     $           -     $ 1,476  
Total liabilities   $ 1,476     $ -     $ -     $ 1,476  

Schedule of Reconciliation of the Beginning and Ending Level 3 Liabilities

The Company has not transferred any financial instruments into or out of Level 3 classification during the six months ended June 30, 2017 or 2016. A reconciliation of the beginning and ending Level 3 liabilities for the six months ended June 30, 2017 and 2016 is as follows (in thousands):

 

    Fair Value Measurements Using
Significant Unobservable Inputs
(Level 3) 		 
      June 30, 2017       June 30, 2016  
Balance, January 1,   $ 1,476     $ 4,115  
Estimated fair value of warrants exchanged for common shares     -       (35 )
Change in fair value of warrants     (769 )     (2,211 )
Balance at June 30,   $ 707     $ 1,869