STOCKHOLDERS' DEFICIT (Tables)

3 Months Ended

Mar. 31, 2017

Equity [Abstract]

Carrying value and activity of Preferred Shares

The following table sets forth the activity recorded during the three months ended March 31, 2017 related to the Series C Preferred Stock (in thousands):

Series C Preferred Stock carrying value at December 31, 2016	$	69,540
Accretion of discount related to issuance costs	161
Dividends recorded through March 31, 2017 1	2,141
Series C Preferred Stock carrying value March 31, 2017	$	71,842

¹ Dividends recorded reflect the increase in the Liquidation Preference associated with unpaid dividends.

The following table sets forth the activity recorded during the three months ended March 31, 2017 related to the Series A Preferred Stock (in thousands) issued for both the PIPE Transactions and the Rights Offering:

Series A Preferred Stock carrying value at December 31, 2016	$	2,462
Accretion of discount related to issuance costs	13
Dividends recorded through March 31, 2017 1	74
Series A Preferred Stock carrying value March 31, 2017	$	2,549

¹ Dividends recorded reflect the increase in the Liquidation Preference associated with unpaid dividends.