Fair Value (Tables)

12 Months Ended

Dec. 31, 2012

Fair Value Disclosures [Abstract]

Schedule of assumptions used in the valuation models to determine the fair value of liabilities

The assumptions used in the valuation models to determine the fair value of the Company’s derivative liabilities are as follows:

	At December 31,
	2012			2011
2008 Warrants exercise price (1)	$	9.05		$	9.05
2010 Warrants exercise price (1)	$	3.84		$	3.84
Series B-1 Preferred Stock conversion price (1)	$	15.95		$	15.95
Stock price	$	0.05		$	2.15
Volatility	146.33		%	78.43		%
Risk-free discount rate (2)  — 2008 Warrants	0.12		%	0.19		%
Risk-free discount rate (2)  — 2010 Warrants	0.53		%	0.83		%
Risk-free discount rate (2) — Series B-1 Preferred Stock embedded conversion feature	0.36		%	0.59		%

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(1) Anti-dilution provisions for these financial instruments were triggered as a result of the issuance of the Advisory Shares on August 29, 2011, associated with the Whitebox Revolving Credit Facility.  See notes 6, 7 and 8.

(2) Based on the remaining life of the instruments.

Schedule of derivative liabilities measured and recorded at fair value on a recurring basis

The Company’s derivative liabilities measured at fair value on a recurring basis were as follows (in thousands):

	December 31, 2012
	Total		(Level 1)		(Level 2)		(Level 3)
Conversion feature embedded in the Series B-1 Preferred Stock	$	16	$	—	$	—	$	16
2008 Warrants	—		—		—		—
2010 Warrants	63		—		—		63
Total derivative liabilities	$	79	$	—	$	—	$	79

	December 31, 2011
	Total		(Level 1)		(Level 2)		(Level 3)
Conversion feature embedded in the Series B-1 Preferred Stock	$	1,835	$	—	$	—	$	1,835
2008 Warrants	29		—		—		29
2010 Warrants	3,914		—		—		3,914
Total derivative liabilities	$	5,778	$	—	$	—	$	5,778

Schedule of reconciliation of the liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3)

A reconciliation of the Company’s liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) is as follows (in thousands):

	Year ended December 31,
	2012			2011
Balance at the beginning of the period	$	5,778		$	38,271
Total unrealized (gains) losses
Included in earnings	(5,730		)	(33,300		)
Included in other comprehensive income	—			—
Issuances	31			807
Transfers in and/or out of Level 3	—			—
Balance at the end of the period	$	79		$	5,778

Schedule of fair value of the remaining financial assets and liabilities

The following table sets forth the fair value of the Company’s remaining financial assets and liabilities (in thousands):

		December 31, 2012				December 31, 2011
	Fair Value Hierarchy	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Financial liabilities:
Long-term debt - Notes	Level 2	$	297,759	$	130,500	$	296,616	$	185,250
Long-term debt - Whitebox Revolving Credit Facility	Level 3	$	50,000	$	20,120	$	50,000	$	33,277
Other	Level 2	$	3,109	$	3,109	$	8,110	$	8,110
Mandatorily redeemable preferred stock:
Series C-1	Level 3	$	46,915	$	11,631	$	41,477	$	25,767
Series D	Level 3	$	16,265	$	5,083	$	11,733	$	14,229