XML 43 R27.htm IDEA: XBRL DOCUMENT v2.4.0.8
Fair Value Accounting (Tables)
12 Months Ended
Sep. 30, 2013
Fair Value Disclosures [Abstract]  
Fair Value Measurements, Recurring and Nonrecurring
The following table lists our financial assets and liabilities that are measured at fair value on a recurring basis:

Fair Value Measurement
 
 
 
 
 
 
 
(in thousands)
Level 1
 
Level 2
 
Level 3
 
 
 
Quoted Prices in Active Markets for Identical Assets
 
Significant Other Observable Remaining Inputs
 
Significant Unobservable Inputs
 
Total
As of September 30, 2013
 
 
 
 
 
 
 
Assets:
 
 
 
 
 
 
 
Cash and cash equivalents
$
16,104

 

 

 
$
16,104

Restricted cash
815

 

 

 
815

Liabilities:
 
 
 
 
 
 
 
Warrant liability

 
155

 

 
155

As of September 30, 2012
 
 
 
 
 
 
 
Assets:
 

 
 

 
 

 
 

Cash and cash equivalents
$
9,047

 

 

 
$
9,047

Restricted cash
82

 

 

 
82

Liabilities:
 

 
 

 
 

 
 

Warrant liability

 
670

 

 
670



Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques
The change in the fair value of our warrants has been primarily due to the change in the closing price of our common stock.

Assumptions used in Monte Carlo Option Valuation Model
 
Warrants issued on February 20, 2008
 
Warrants issued on October 1, 2009
 
 
As of September 30, 2013
 
As of September 30, 2012
 
As of September 30, 2013
 
As of September 30, 2012
Number of warrants issued
 
 
350,010
 
400,001
 
400,001
Expiration date
 
 
2/20/2013
 
4/1/2015
 
4/1/2015
Exercise price
 
$—
 
$60.24
 
$6.76 - $9.44
 
$6.76 - $9.44
Expected dividend yield
 
 
 
 
Expected stock price volatility
 
—%
 
54.82%
 
51.52%
 
81.56%
Risk-free interest rate 
 
—%
 
0.14%
 
0.22%
 
0.27%
Expected term (in years)
 
0
 
0.39
 
1.50
 
2.50
Total warrant valuation
 
$—
 
$—
 
$155,000
 
$670,000