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Fair Value Measurements (Tables)
 6 Months Ended
Jun. 30, 2017
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]
The following table presents changes in Level 3 liabilities measured at fair value for the six-month period ended June 30, 2017. Both observable and unobservable inputs were used to determine the fair value of positions that the Company has classified within the Level 3 category. Unrealized gains and losses associated with liabilities within the Level 3 category include changes in fair value that were attributable to both observable (e.g., changes in market interest rates) and unobservable (e.g., changes in unobservable long- dated volatilities) inputs (in thousands).
 
 
 
Warrant
 
Embedded
 
Share-settled
 
 
 
 
 
Liability
 
Conversion Feature
 
Debt (in Default)
 
Total
 
Balance – January 1, 2017
 
$
4,862
 
$
-
 
$
5,200
 
$
10,062
 
Warrants granted
 
 
9,572
 
 
-
 
 
-
 
 
9,572
 
Issuance of convertible notes
 
 
-
 
 
4,262
 
 
-
 
 
4,262
 
Extinguishment of warrant liabilities related to warrants exercised for cash
 
 
(1,847)
 
 
-
 
 
-
 
 
(1,847)
 
Conversion of share-settled debt
 
 
-
 
 
-
 
 
(451)
 
 
(451)
 
Change in fair value
 
 
(5,709)
 
 
(2,187)
 
 
-
 
 
(7,896)
 
Balance – June 30, 2017
 
$
6,878
 
$
2,075
 
$
4,749
 
$
13,702
 
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Table Text Block]
A summary of the weighted average (in aggregate) significant unobservable inputs (Level 3 inputs) used in measuring the Company’s warrant liabilities and embedded conversion feature that are categorized within Level 3 of the fair value hierarchy as of June 30, 2017 and December 31, 2016 is as follows:
 
 
 
As of June 30, 2017
 
 
As of December 31, 2016
 
 
 
Warrant
 
 
Embedded
 
 
Warrant
 
 
 
Liability
 
 
Conversion Feature
 
 
Liability
 
Strike price
 
$
0.40
 
 
$
0.41
 
 
$
0.60
 
Contractual term (years)
 
 
3.4
 
 
 
1.9
 
 
 
4.7
 
Volatility (annual)
 
 
98
%
 
 
99
%
 
 
98
%
Risk-free rate
 
 
2
%
 
 
1
%
 
 
2
%
Dividend yield (per share)
 
 
0
%
 
 
0
%
 
 
0
%
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]
The following table classifies the Company’s liabilities measured at fair value on a recurring basis into the fair value hierarchy as of June 30, 2017 and December 31, 2016 (in thousands):
 
 
 
Fair value measured at June 30, 2017
 
 
 
 
 
Quoted prices in active
 
Significant other
 
Significant
 
 
 
Fair value at
 
markets
 
observable inputs
 
unobservable inputs
 
 
 
June 30, 2017
 
(Level 1)
 
(Level 2)
 
(Level 3)
 
Warrant liability
 
$
6,878
 
$
-
 
$
-
 
$
6,878
 
Embedded conversion feature
 
 
2,075
 
 
-
 
 
-
 
 
2,075
 
Share-settled debt (in default)
 
 
4,749
 
 
-
 
 
-
 
 
4,749
 
Total fair value
 
$
13,702
 
$
-
 
$
-
 
$
13,702
 
 
 
 
Fair value measured at December 31, 2016
 
 
 
 
 
Quoted prices in active
 
Significant other
 
Significant
 
 
 
Fair value at
 
markets
 
observable inputs
 
unobservable inputs
 
 
 
December 31, 2016
 
(Level 1)
 
(Level 2)
 
(Level 3)
 
Warrant liability
 
$
4,862
 
$
-
 
$
-
 
$
4,862
 
Share-settled debt (in default)
 
 
5,200
 
 
-
 
 
-
 
 
5,200
 
Total fair value
 
$
10,062
 
$
-
 
$
-
 
$
10,062
 
Embedded Derivative Financial Instruments [Member]  
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]
A summary of weighted average (in aggregate) significant unobservable inputs (Level 3 inputs) used in measuring warrants granted during the six months ended June 30, 2017 is as follows:
 
Conversion price
 
$
0.41
 
Contractual term (years)
 
 
1.92
 
Volatility (annual)
 
 
97
%
Risk-free rate
 
 
1
%
Dividend yield (per share)
 
 
0
%
Warrant [Member] | Public and Private Offering [Member]  
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Table Text Block]
A summary of weighted average (in aggregate) significant unobservable inputs (Level 3 inputs) used in measuring warrants granted during the six months ended June 30, 2017 is as follows:
 
 
 
2017 Warrants Granted Associated with
 
 
 
Public and Private
 
 
Debt
 
 
 
 
 
 
Offering
 
 
Conversion
 
 
Issuance of Debt
 
Strike price
 
$
0.51
 
 
$
0.39
 
 
$
0.18
 
Contractual term (years)
 
 
2.3
 
 
 
2.3
 
 
 
2.0
 
Volatility (annual)
 
 
107
%
 
 
109
%
 
 
112
%
Risk-free rate
 
 
1
%
 
 
1
%
 
 
1
%
Dividend yield (per share)
 
 
0
%
 
 
0
%
 
 
0
%