Fair Value of Financial Assets and Liabilities - Derivative Instruments (Tables)

3 Months Ended

Mar. 31, 2016

Derivatives And Fair Value [Line Items]

Financial Liabilities Measured at Fair Value

The following fair value hierarchy table presents information about each major category of the Company's financial liabilities measured at fair value on a recurring basis:

	Quoted Prices in
	Active Markets		Significant Other		Significant
	for Identical		Observable Inputs		Unobservable
	Items (Level 1)		(Level 2)		Inputs (Level 3)		Total
March 31, 2016
Liabilities
Series B preferred stock derivative liability	$	-	$	-	$	91,000	$	91,000
Warrant liability		-		-		2,000		2,000
Total liabilities	$	-	$	-	$	93,000	$	93,000
December 31, 2015
Liabilities
Series B preferred stock derivative liability	$	-	$	-	$	1,493,000	$	1,493,000
Warrant liability		-		-		6,000		6,000
Total liabilities	$	-	$	-	$	1,499,000	$	1,499,000

Changes in Fair Value of Derivative and Warrant Liability

The following table sets forth a summary of changes in the fair value of the Company's Series B redeemable convertible preferred stock derivative and warrant liability, which represents a recurring measurement that is classified within Level 3 of the fair value hierarchy, wherein fair value is estimated using significant unobservable inputs:

			Series B Preferred
	Warrant		Stock Derivative
	Liability		Liability
Balance, December 31, 2015	$	6,000	$	1,493,000
Changes in estimated fair value		(4,000)		(1,402,000)
Balance, March 31, 2016	$	2,000	$	91,000

Series B redeemable convertible preferred stock [Member]

Derivatives And Fair Value [Line Items]

Valuation Assumptions Used

The following assumptions were used at March 31, 2016 and December 31, 2015:

	March 31,			December 31,
	2016			2015
Volatility		108	%		108 to 117	%
Expected term (years), weighted average		0.04 to 0.75			0.50 to 2.50
Risk-free interest rate		0.18 to 0.49	%		0.49 to 1.19	%
Dividend yield		0.00	%		0.00	%
Exercise price	$	7.00		$	7.00
Common stock closing price	$	3.94		$	3.98

Warrants Through 2011 [Member]

Derivatives And Fair Value [Line Items]

Valuation Assumptions Used

The following assumptions were used at March 31, 2016 and December 31, 2015:

	March 31, 2016			December 31, 2015
	Series (1)			Series (1)
	2011			2011
Volatility		108.00	%		112.05	%
Expected term (years)		0.73			0.98
Risk-free interest rate		0.48	%		0.64	%
Dividend yield		0.00	%		0.00	%
Exercise price	$	23.00		$	23.00
Common stock closing price	$	3.94		$	3.98