XML 41 R31.htm IDEA: XBRL DOCUMENT v3.5.0.2
Borrowing Arrangements - Additional Information (Detail) - USD ($)
1 Months Ended 9 Months Ended 12 Months Ended
Oct. 01, 2014
Jun. 30, 2016
Mar. 31, 2016
Jun. 26, 2015
Sep. 23, 2014
Sep. 30, 2016
Sep. 30, 2015
Dec. 31, 2015
Jan. 21, 2016
Nov. 30, 2015
Jan. 31, 2014
Borrowing Arrangements [Line Items]                      
Class of Warrant or Right, Exercise Price of Warrants or Rights           $ 2.005     $ 1.79   $ 30.40
Proceeds from (Repayments of) Related Party Debt           $ (50,000) $ (80,000)        
Payments for Fees $ 385,000                    
Stock Issued During Period, Shares, New Issues     467,392                
Repayments of Senior Debt           1,640,016 $ 2,147,000        
Cash Reserve Deposit Required and Made           $ 1,000,000          
National Securities Corporation [Member]                      
Borrowing Arrangements [Line Items]                      
Share Price           $ 20.00          
Debt Instrument, Fee Amount           $ 330,000          
Stock Issued During Period, Shares, New Issues           24,750          
Fair Value Adjustment of Warrants           $ 153,759          
Warrant [Member]                      
Borrowing Arrangements [Line Items]                      
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Granted           1,000,000          
Fortress Agreement [Member]                      
Borrowing Arrangements [Line Items]                      
Proceeds from Issuance of Senior Long-term Debt 11,137,753                    
Class of Warrant or Right, Exercise Price of Warrants or Rights                   $ 2.54  
Share Price           $ 11.40          
Termination Fee Payable           $ 853,965          
Gross Proceeds From Senior Long Term Debt 12,199,500                    
Contract Claims Description           the Company is required to apply, towards its obligations pursuant to the Fortress Notes, 100% of the difference between (a) any revenues generated from the Monetization Revenue less (b) any litigation or licensing related third party expenses (including fees paid to the original patent owners) reasonably incurred by the Company to earn Monetization Revenue, subject to certain limits (such difference defined as Monetization Net Revenues).          
Revenue Recognition Under Agreement Description           the Company granted to the purchasers identified in the Fortress Agreement (the Revenue Participants) a right to receive a portion of the Companys Monetization Revenues totaling $11,284,538 (the Revenue Stream).          
Revenue Recognition of Participants Under Proportionate Share Agreement Description           The Revenue Participants proportionate share is equal to 75% of Monetization Net Revenues until $5,000,000 has been paid to the Revenue Participants, then 50% of Monetization Net Revenues until the remaining $6,284,538 has been paid to the Revenue Participants. All Revenue Stream Payments will be payable on a monthly basis in arrears. The rights of the Revenue Participants to the Revenue Stream are secured by all of the Companys current patent assets and the Cash Collateral Account, in each case junior in priority to the rights of the Note Purchasers. In connection with the Revenue Participants right to receive a portion of the Companys Monetization Revenues, the Company has recorded a net liability of $3,948,153, which represents the amount of the expected Monetization Revenues, discounted 18% over the expected life of the revenue share agreement. In conjunction with an amendment to the Amended Fortress Agreement dated March 1, 2016, the Company determined that the change in expected cash flows was greater than 10% as compared to the previous agreement and, therefore, a debt extinguishment was deemed to have occurred. When recording the new present value of the debt and revenue share, which was computed using a discount rate of 18%, a gain on debt extinguishment of $2,434,661 was recognized          
Warrants To Purchase Common Stock           50,000          
Debt Related Commitment Fees and Debt Issuance Costs $ 476,868                    
Revenue Recognition Of Revenue Sharing Under Proportionate Share Agreement Description           Under the terms of the LOI, net monetization revenues from this program would be shared with Fortress to receive 70% and the Company to receive 30% of revenues (the Revenue Sharing), with such Revenue Sharing to be effectuated following reimbursement to Fortress for monetization expenses and the sum of $30.5 million. The Company and Fortress are working to finalize this new definitive agreement, which they aim to complete by November 21, 2016.          
Reimbursement Revenue           $ 30,500,000          
Fortress Agreement [Member] | Common Stock [Member]                      
Borrowing Arrangements [Line Items]                      
Share Price $ 20.00                    
Stock Issued During Period, Shares, New Issues 50,000                    
Stock Issued During Period, Value, New Issues $ 1,000,000                    
Chief Executive Officer [Member] | Share Purchase Agreement [Member]                      
Borrowing Arrangements [Line Items]                      
Due to Related Parties   $ 150,000                  
Repayments of Related Party Debt   $ 50,000                  
Joseph W. Beyers [Member] | Share Purchase Agreement [Member]                      
Borrowing Arrangements [Line Items]                      
Share Price       $ 4.60 $ 21.40     $ 4.60      
Stock Issued During Period, Shares, Other         23,364            
Stock Issued During Period, Value, Other         $ 500,000 $ 6,000,000          
Proceeds from (Repayments of) Related Party Debt         300,000            
Due to Related Parties         $ 300,000            
Proceeds from Issuance or Sale of Equity               $ 100,000      
Stock Issued During Period, Shares, New Issues       21,740              
Fortress Notes [Member]                      
Borrowing Arrangements [Line Items]                      
Debt Instrument, Description of Variable Rate Basis           LIBOR plus 7%. In addition, a 3% per annum paid-in-kind (PIK) interest will be paid by increasing the principal amount of the Fortress Notes by the amount of such interest. The PIK interest shall be treated as principal of the Fortress Notes for all purposes of interest accrual or calculation of any premium payment. In connection with the execution of the Fortress Agreement, on October 1, 2014, the Company paid to the Note Purchasers a structuring fee equal to $385,000. This was accounted for as a discount on notes payable.          
Repayments of Senior Debt           $ 3,787,016