Annual report pursuant to Section 13 and 15(d)

Fair Value Measurement (Tables)

v3.8.0.1
Fair Value Measurement (Tables)
 12 Months Ended
Dec. 31, 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 remeasured at fair value at each balance sheet date as of December 31, 2017 and 2016, and their placement within the fair value hierarchy as discussed above (in thousands):

 

    December 31,     Quoted Prices in Active Markets     Significant Other Observable Inputs     Unobservable Inputs  
Description   2017     (Level 1)     (Level 2)     (Level 3)  
Assets:                                
Cash, cash equivalents, and restricted cash   $ 777     $ 777     $ -     $ -  
                                 
Liabilities:                                
Warrants potentially settleable in cash   $ 569     $ -     $ -     $ 569  

 

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

Schedule of Reconciliation of Beginning and Ending Level 3 Liabilities

A reconciliation of the beginning and ending Level 3 liabilities for the years ended December 31, 2017, 2016 and 2015, is as follows (in thousands):

 

    Fair Value Measurements Using Significant
Unobservable Inputs (Level 3) 		 
    2017     2016     2015  
Balance, January 1,   $ 1,476     $ 4,115     $ 8,464  
Value of warrants converted in cashless exercise     -       (36 )     (14,265 )
Change in fair value of warrants for the year ended     (907 )     (2,603 )     9,916  
Balance at December 31,   $ 569     $ 1,476     $ 4,115