Shareholders' Equity

12 Months Ended

Dec. 31, 2014

Equity [Abstract]

Shareholders' Equity

10. STOCKHOLDERS’ EQUITY

Common Stock Issued, Net of Issuance Costs

Registered Direct Offering

On February 12, 2014, the Company completed a registered direct offering with the issuance of 3,960,000 shares of common stock at a price of $2.60 per share for net proceeds of $9,307.

At-The-Market Sales

On October 31, 2011, the Company entered into an At-The-Market Sales Agreement with BTIG LLC (the “ATM Sales Agreement”), a major global securities trading firm that acts as our sales agent. Under the ATM Sales Agreement, the Company may from time to time sell shares of its common stock having an aggregate offering price up to $15,000 in “at-the-market” offerings, which shares are registered under the Company’s currently effective registration statement on Form S-3. The Company filed a prospectus supplement dated July 2, 2014 with the Securities and Exchange Commission in connection with the offering, relating to shares of its common stock having an aggregate offering price of up to $4,100. The Company pays BTIG a commission equal to 3.0% of the gross proceeds from the sale of any shares pursuant to the ATM Sales Agreement.

During the year ended December 31, 2014 the Company sold 794,586 shares of common stock for net proceeds of approximately $2,600 under the ATM Sales Agreement. As of March 19, 2015 approximately $6,000 of the aggregate $15,000 remained available for future sales under the ATM Sales Agreement.

Shareholder Rights Offering

In March 2013, the Company completed a Shareholder Rights Offering, whereby each stockholder and warrant holder received one non-transferrable subscription right for each share of common stock owned or subject to a warrant as of 5:00pm ET on January 28, 2013. Each subscription right entitled the holder to purchase 0.3119 of a share of common stock of the Company at a price of $2.55 per whole share.

Under the Shareholder Rights Offering, the Company raised $8,900 in gross proceeds, of which $5,000 was used to repay an outstanding short-term bridge loan payable to RCF. Also in connection with the short-term bridge loan, the Company issued 31,343 shares of common stock in 2013 for the payment of interest in the amount of $96 related to the six months ended March 31, 2013.

Common Stock Issued for Loan Interest and Fees

As discussed in Note 6 above, unless RCF elects to receive cash, RCF receives common shares of the Company for the payment of interest owing on the Loan Agreement. For the year ended December 31, 2014, the Company issued 325,853 shares of common stock for the payment of $840 in interest and fees. Subsequent to December 31, 2014, the Company issued 102,912 shares of common stock for the payment of $198 in interest relating to the three months ended December 31, 2014.

Common Stock Issued for Settlement of Litigation

On April 15, 2014, the Company and a former executive of the Company, entered into a Settlement Agreement and General Release, under the terms of which it was agreed by the Company’s former executive to dismiss with prejudice claims he brought in a lawsuit against the Company. As a result of this Settlement Agreement, the Company issued common shares to the Company’s former executive with a grant date fair value of $334. The issuance of 119,231 shares of common stock was based upon a common share price of $2.80.

Common Stock Issued for Settlement of Land Obligations

On August 8, 2014, the Company issued 127,359 shares of common stock with a grant date fair value of $342 to the Juan Tafoya Land Corporation in satisfaction of $338 of base rental payments due under the Uranium Mining Lease and Agreement, dated October 12, 2006, by and between Neutron Energy, Inc., a wholly owned subsidiary of the Company, and the Juan Tafoya Land Corporation, as amended by the First Amendment thereto, dated August 8, 2014, by and among the Company, Neutron Energy, Inc. and the Juan Tafoya Land Corporation.

On October 3, 2014, the Company entered into a Second Amendment to the Uranium Mining Lease and Agreement whereby, on October 6, 2014, the Company repurchased 91,631 shares of common stock from the Juan Tafoya Land Corporation for an aggregate purchase price of $249.

Common Stock Issued for Services

In January 2013, the Company issued 83,200 shares valued at $3.50 per share based on the market trading price to Cormark Securities, Inc. in satisfaction of $291 in fees related to the Neutron Energy, Inc. merger.