FAIR VALUE MEASUREMENTS (Tables)

12 Months Ended

Dec. 31, 2013

FAIR VALUE MEASUREMENTS [Abstract]

Financial assets and liabilities measured at fair value on a recurring basis

Financial assets and liabilities measured at fair value on a recurring basis as of December 31, 2013 and December 31, 2012 are summarized below:

(in thousands)
Description	As of December 31, 2013		Level 1		Level 2		Level 3		Total Gains (Losses)
Liabilities:   Derivative liability-
warrants	$	-	$	-	$	-	$	-	$	271
preferred stock	$	1,190	$	-	$	-	$	1,190	$	8,010
(in thousands)
Description	As of December 31, 2012		Level 1		Level 2		Level 3		Total Gains (Losses)
Liabilities:   Derivative liability-
warrants	$	271	$	-	$	271	$	-	$	1,236
preferred stock	$	9,200	$	-	$	-	$	9,200	$	(4,770	)