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Fair Value (Tables)

6 Months Ended

Jun. 30, 2013

Fair value at June 30, 2013, was estimated using the following assumptions:



Underlying price per share	$0.19 - $0.22
Exercise price per share	$1.31 - $1.65
Risk-free interest rate	0.15% - 0.23%
Expected holding period	0.88 - 1.64 yrs.
Expected volatility	103.05% - 113.56%
Expected dividend yield	None

Schedule of fair value, assets and liabilities measured on recurring basis

The table below presents the balances of assets and liabilities measured at fair value on a recurring basis by level within the hierarchy as of June 30, 2013:



	(in thousands)
	Total			Level 1		Level 2		Level 3
Assets:
Marketable Securities-unrestricted	$	16,843		$	16,843	$	—	$	—
Marketable Securities-restricted	$	14,374		$	14,374	$	—	$	—
Liabilities:
Warrants	$	(104	)	$	—	$	—	$	(104	)

Fair Value, Inputs, Level 3 [Member]

Fair value, liabilities measured on recurring basis

The changes in Level 3 Liabilities measured at fair value on a recurring basis are summarized as follows:



	Fair Value of Redeemable Warrants
	(in thousands)
	2013			2012
Balance at January 1	$	295		$	380
Fair value adjustment at March 31	(89		)	151
Balance at March 31	206			531
Fair value adjustment at June 30	(102		)	(387		)
Balance at June 30	$	104		$	144

- Definition

Tabular disclosure of liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). Where the quoted price in an active market for the identical liability is not available, the Level 1 input is the quoted price of an identical liability when traded as an asset.

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- Definition

Tabular disclosure of all information related to the key inputs and assumptions (including, at a minimum, but not limited to, and if applicable, quantitative information about discount rates, expected prepayments including the expected weighted-average life of prepayable financial assets, and anticipated credit losses) used in measuring the fair value of assets or liabilities that relate to the transferor's continuing involvement with transferred financial assets, as of the balance sheet date.

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