COMMON STOCK WARRANTS

12 Months Ended

Dec. 31, 2015

Stockholders Equity Note [Abstract]

COMMON STOCK WARRANTS

NOTE 10 – COMMON STOCK WARRANTS

We have outstanding common stock purchase warrants (“warrants”) exercisable for 60 thousand shares of our common stock having an exercise price of $2.52 per share (after giving effect to our one-for-five reverse stock split) with an expiration date in December 2020. See Note 8 for a discussion of the reduction of the exercise price of these warrants to $2.52 per share which were originally issued in connection with the issuance of the $10.0 million secured promissory notes in December 2013. These warrants contain a cashless exercise feature.

Our warrant activity during the years ended December 31, 2015 and 2014 is shown below (in thousands except price data):

	December 31,
	2015				2014
	Number		WAvg Exercise Price		Number		WAvg Exercise Price
Outstanding, beginning		60	$	7.98		431	$	15.75
Issued		-		-		-		-
Exercised		-		-		-		-
Expired		-		-		(371)		17.00
Modification		-		(5.46)		-		-
Outstanding, ending		60	$	2.52		60	$	7.98