STOCKHOLDERS' DEFICIT (Tables)

9 Months Ended

Sep. 30, 2016

Equity [Abstract]

Carrying value and activity of Preferred Shares

The following table sets forth the activity recorded during the nine months ended September 30, 2016 related to the Series A Preferred Stock (in thousands) issued for both the PIPE Transactions and the Rights Offering:

Series A Preferred Stock carrying value at December 31, 2015	$	62,918
Exchange of shares - Series A to Series C	(60,776		)
Accretion of discount related to issuance costs	38
Dividends recorded through September 30, 2016 1	206
Series A Preferred Stock carrying value September 30, 2016	$	2,386

¹ Dividends recorded reflect the increase in the Liquidation Preference associated with unpaid dividends.

The following table sets forth the activity recorded during the nine months ended September 30, 2016 related to the Series C Preferred Stock (in thousands):

Series C Preferred Stock carrying value at 12/31/2015	$	—
Exchange of shares - Series A to Series C	60,776
Accretion of discount related to issuance costs	480
Dividends recorded through September 30, 2016 1	5,986
Series C Preferred Stock carrying value September 30, 2016	$	67,242

¹ Dividends recorded reflect the increase in the Liquidation Preference associated with unpaid dividends.