Quarterly report pursuant to Section 13 or 15(d)

Fair Value Measurements (Tables)

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Fair Value Measurements (Tables)
 3 Months Ended
Mar. 31, 2018
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 March 31, 2018 and December 31, 2017, 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   March 31, 2018     (Level 1)     (Level 2)     (Level 3)  
Assets:                                
Cash and cash equivalents   $ 1,278     $ 1,278     $           -     $ -  
Total assets   $ 1,278     $ 1,278     $ -     $         -  
                                 
Liabilities:                                
Warrants potentially settleable in cash   $ 548     $ -     $ -     $ 548  
Total liabilities   $ 548     $ -     $ -     $ 548  

 

         

Quoted

Prices in Active Markets

     Significant Other Observable Inputs     Unobservable Inputs  
Description   December 31, 2017     (Level 1)     (Level 2)     (Level 3)  
Assets:                                
Cash and cash equivalents   $ 777     $ 777     $ -     $              -  
Total assets   $ 777     $ 777     $           -     $ -  
                                 
Liabilities:                                
Warrants potentially settleable in cash   $ 569     $ -     $ -     $ 569  
Total liabilities   $ 569     $ -     $ -     $ 569

Schedule of Reconciliation of Beginning and Ending Level 3 Liabilities

A reconciliation of the beginning and ending Level 3 liabilities for the three months ended March 31, 2018 and 2017 is as follows:

 

    Fair Value Measurements Using Significant Unobservable Inputs (Level 3)  
    2018     2017  
Balance , January 1,   $ 569     $ 1,476  
Estimated fair value of warrants exchanged for common shares     -       -  
Change in fair value of warrants     (21 )     (571 )
Balance at March 31,   $ 548     $ 905