Shareholders' Equity (Deficit)

9 Months Ended

Jul. 31, 2012

Equity [Abstract]

Shareholders' Equity (Deficit)

Shareholders’ Equity (Deficit)

Changes in shareholders’ equity (deficit)

Changes in shareholders’ equity (deficit) were as follows for the nine months ended July 31, 2012:

	Total Shareholders’ Equity (Deficit)			Noncontrolling interest			Total Equity (Deficit)
Balance at October 31, 2011	$	(13,451	)	$	(924	)	$	(14,375	)
Sale of Common Stock and related fees	64,003			—			64,003
Share-based compensation	1,517			—			1,517
Common stock issued in settlement of prior year bonus obligation	550			—			550
Stock issued under benefit plans, net of taxes paid upon vesting of restricted stock awards	(2		)	—			(2		)
Sale of noncontrolling interest in subsidiary	—			954			954
Preferred dividends – Series B	(2,401		)	—			(2,401		)
Other comprehensive loss - foreign currency translation adjustments	(80		)	—			(80		)
Net loss	(24,157		)	(230		)	(24,387		)
Balance at July 31, 2012	$	25,979		$	(200	)	$	25,779

Common Stock Sales

On March 27, 2012, the Company completed a public offering of 23 million shares of common stock, including 3 million shares sold pursuant to the full exercise of an over-allotment option previously granted to the underwriters. All shares were offered by the Company at a price of $1.50 per share. Total net proceeds to the Company were approximately $32.0 million.

On April 30, 2012, POSCO Energy purchased, and the Company issued, 20 million shares of common stock at a price of $1.50 per share for proceeds of $30.0 million. The cash payment was subsequently received on May 2, 2012.

The Company may sell common stock on the open market from time to time to raise funds in order to pay obligations related to the Company's outstanding Series I and Series B preferred shares. During the nine months ended July 31, 2012, we sold 2,012,306 shares of the Company's common stock on the open market and raised approximately $2 million, net of fees.