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Business, Liquidity and Summary of Significant Accounting Policies (Tables)
9 Months Ended
Sep. 30, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Schedule of liabilities measured at fair value on a recurring basis

 

          Level 1           Level 3  
    Balance at     Quoted prices in     Level 2     Significant  
    December 31,     active markets for     Significant other     unobservable  
(In thousands)   2014     identical assets     observable inputs     inputs  
Liabilities:                                
Fair value liability for price adjustable warrants   $ 9,225     $ -     $ -     $ 9,225  
Fair value liability for shares to be issued     75       75       -       -  
Total liabilities at fair value   $ 9,300     $ 75     $ -     $ 9,225  

   

          Level 1           Level 3  
    Balance at     Quoted prices in     Level 2     Significant  
    September 30,     active markets for     Significant other     unobservable  
(In thousands)   2015     identical assets     observable inputs     inputs  
Liabilities:                                
Fair value liability for price adjustable warrants   $ 3,672     $ -     $ -     $ 3,672  
Fair value liability for shares to be issued     12       12       -       -  
Total liabilities at fair value   $ 3,684     $ 12     $ -     $ 3,672  
Schedule of fair value liability of price adjustable warrants determined by Level 3

 

          Weighted average as of each measurement date  
    Fair value
liability for price
adjustable
warrants (in
thousands)
    Exercise
Price
    Stock
Price
    Volatility     Contractual life
(in years)
    Risk free rate  
Balance at December 31, 2014   $ 9,225     $ 0.42     $ 0.95       121 %     3.51       0.90 %
Warrant issuance in connection with Series D convertible preferred stock     575       0.40       0.44       97 %     1.19       0.73 %
Change in fair value included in statement of operations     (6,128 )     -       -       -       -       -  
Balance at September 30, 2015   $ 3,672     $ 0.42     $ 0.53       102 %     2.07       0.57 %
 
Schedule of anti-dilutive securities

 

    Three Months Ended September 30,     Nine Months Ended September 30,  
    2014     2015     2014     2015  
Stock options outstanding     1,303,504       1,316,106       1,303,504       1,316,106  
Warrants     21,210,695       1,236,946       21,210,695       1,236,946  
Convertible preferred stock     8,000,000       10,150,000       8,000,000       10,150,000  
Total     30,514,199       12,703,052       30,514,199       12,703,052  
Schedule of reconciliation of basic and diluted net income (loss)

 

    Three Months Ended September 30     Nine Months Ended September 30  
    2014     2015     2014     2015  
Net income (loss) – numerator basic   $ (7,123 )   $ 769     $ (18,280 )   $ 2,087  
Change in fair value liability for price adjustable warrants     -       (2,485 )     -       (6,128 )
Net loss excluding change in fair value liability for price adjustable warrants   $ (7,123 )   $ (1,716 )   $ (18,280 )   $ (4,041 )
Weighted average common shares outstanding – denominator basic     25,668       26,462       24,248       26,047  
Effect of price adjustable warrants     -       4,477       -       7,437  
Weighted average dilutive common shares outstanding     25,668       30,939       24,248       33,484  
Net income (loss) per common share – basic   $ (0.28 )   $ 0.03     $ (0.75 )   $ 0.08  
Net loss per common share – diluted   $ (0.28 )   $ (0.06 )   $ (0.75 )   $ (0.12 )