Quarterly report pursuant to Section 13 or 15(d)

Fair Value Measurements (Tables)

Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2018

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, 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	June 30, 2018		(Level 1)		(Level 2)		(Level 3)
Assets:
Cash and cash equivalents	$	6,870	$	6,870	$	-	$	-
Total assets	$	6,870	$	6,870	$	-	$	-

Liabilities:
Warrants potentially settleable in cash	$	288	$	-	$	-	$	288
Total liabilities	$	288	$	-	$	-	$	288

			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

The Company has not transferred any financial instruments into or out of Level 3 classification during the six months ended June 30, 2018 or 2017. A reconciliation of the beginning and ending Level 3 liabilities for the six months ended June 30, 2018 and 2017 is as follows (in thousands):

	Fair Value Measurements Using Significant Unobservable Inputs (Level 3)
		June 30, 2018			June 30, 2017
Balance, January 1,	$	569		$	1,476
Change in fair value of warrants		(281	)		(769	)
Balance at June 30,	$	288		$	707

- Definition

Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances.

+ References + Details