- Definition

The aggregate liquidation preference (or restrictions) of stock classified as temporary equity that has a preference in involuntary liquidation considerably in excess of the par or stated value of the shares. The liquidation preference is the difference between the preference in liquidation and the par or stated values of the share. Temporary equity is a security with redemption features that are outside the control of the issuer, is not classified as an asset or liability in conformity with GAAP, and is not mandatorily redeemable. Includes any type of security that is redeemable at a fixed or determinable price or on a fixed or determinable date or dates, is redeemable at the option of the holder, or has conditions for redemption which are not solely within the control of the issuer. If convertible, the issuer does not control the actions or events necessary to issue the maximum number of shares that could be required to be delivered under the conversion option if the holder exercises the option to convert the stock to another class of equity. If the security is a warrant or a rights issue, the warrant or rights issue is considered to be temporary equity if the issuer cannot demonstrate that it would be able to deliver upon the exercise of the option by the holder in all cases. Includes stock with put option held by ESOP and stock redeemable by holder only in the event of a change in control of the issuer.

+ References+ Details

PIPE TRANSACTION - Calculation of Carrying Value of Preferred Stock (Details) (USD $)	Mar. 31, 2015	Dec. 31, 2014	Mar. 09, 2015
Temporary Equity [Line Items]
Issuance date liquidation preference	$ 62,952,911
Initial carrying value of Series A Preferred Stock	53,998,000	0
Series A Preferred Stock
Temporary Equity [Line Items]
Issuance date liquidation preference			62,500,000
Initial carrying value of Series A Preferred Stock	53,998,000		52,380,000
Warrant Value \| Series A Preferred Stock
Temporary Equity [Line Items]
Discount on issuance			(3,145,000)
Beneficial Conversion Feature \| Series A Preferred Stock
Temporary Equity [Line Items]
Discount on issuance			(3,145,000)
Issuance Costs \| Series A Preferred Stock
Temporary Equity [Line Items]
Discount on issuance			$ (3,830,000)