Fair Value (Tables)

6 Months Ended

Jun. 30, 2017

Fair Value Disclosures [Abstract]

Schedule of Assumptions to Estimate the Fair Value of Warrants

The Company utilized the following assumptions to estimate the fair value of the August 2016 Warrants:

	June 30,2017			December 31,2016
Underlying price per share	$	0.50			$0.69-$1.26
Exercise price per sharethe following assumptions to estimate the fair value of the August 2016		$0.50-$1.88			$1.88 - $2.00
Risk-free interest rate		1.75	%		1.86	%
Expected holding period		4.2			4.70
Expected volatility		75	%		85	%
Expected dividend yield		-			-

The Company utilized the following assumptions to estimate the fair value of the January 2017 Warrants:

	June 30,2017			February 1,2017
Underlying price per share	$	0.50		$	0.64
Exercise price per share		$0.69-$0.75			$0.69-$0.75
Risk-free interest rate		1.82	%		1.86%-1.93%
Expected holding period		4.6			5.00
Expected volatility		80	%		80%-85%
Expected dividend yield		-			-

The Company utilized the following assumptions to estimate the fair value of the June 2017 Warrants:

	June 30,2017		June 1,2017
Underlying price per share	$	0.50	$	0.53
Exercise price per share		$0.60-$0.63		$0.60-$0.63
Risk-free interest rate		1.17%-1.88%		1.11%-1.76%
Expected holding period		.7-4.9		.7-5
Expected volatility		80%-85%		80	%
Expected dividend yield		-		-

Schedule of Range of Probabilities

the Company estimated the range of probabilities related to a Put right being triggered as:

Range of Probability	Probability
Low		0.5	%
Medium		1.0	%
High		5.0	%

Schedule of Assets and Liabilities Measured at Fair Value on a 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:

	(in thousands) As of June 30, 2017
	Total		Level 1		Level 2		Level 3
Assets:
Marketable securities	$	1,989	$	1,989	$	-	$	-
Liabilities:
Redeemable warrants	$	2,516		-		-	$	2,516

	(in thousands) As of December 31, 2016
	Total		Level 1		Level 2		Level 3
Assets:
Marketable Securities	$	3,460	$	3,460	$	-	$	-
Liabilities:
Redeemable warrants	$	940		-		-	$	940

Schedule of Changes in Level 3 Liabilities Measured at Fair Value on a Recurring Basis

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

Balance at December 31, 2016	$	940
Issuance of warrants		1,990
Modification of warrants		509
Fair value adjustments		923
Balance at June 30, 2017	$	2,516