Warrants (Tables)

6 Months Ended

Jun. 30, 2012

Warrants [Abstract]

Weighted-average assumptions

The following reflects the weighted-average assumptions for each of the periods indicated:

	Three and Six Months Ended June 30,
	2012			2011
Risk-free interest rate		0.2%-0.3	%		0.5%-1.3	%
Expected dividend yield		0	%		0	%
Expected lives		0.5-2.2 years			1.5-3.4 years
Expected volatility		71.8%-90.5	%		55.3%-88.5	%
Shares underlying warrants classified as liabilities		4,824,827			4,824,827
Market value of stock at beginning of year	$	4.50		$	12.72
Market value of stock at end of period	$	3.78		$	8.58

Reconciliation of the change in value of the Company's warrants

A reconciliation of the change in value of the Company’s warrant liability for the three and six months ended June 30, 2012 is as follows:

	Three Months Ended June 30, 2012			Six Months Ended June 30, 2012
	(in thousands)			(in thousands)
Balance at beginning of period	$	16,372		$	5,446
Increase (Decrease) in value of warrants		(13,488	)		(2,562	)
Reclassification to shareholders’ equity upon exercise of warrants		—			—
Balance at June 30, 2012	$	2,884		$	2,884

Summary of information about warrant outstanding

The following table summarizes information about warrants outstanding at June 30, 2012.

Exercise Price		Outstanding Warrants at June 30, 2012		Weighted Average Remaining Contractual Life (Years)	Exercisable Warrants
$	0.0018		2,778	No expiration date		2,778
	1.0074		39,705	0.4		39,705
	6.84		167	No expiration date		167
	6.96		2,354,034	2.1		2,354,034
	8.70		11,024	1.6		11,024
	10.68		1,568,385	2.2		1,568,385
	14.70		891,385	0.5		891,385
			4,867,478			4,867,478