Fair Value of Financial Assets and Liabilities (Tables)

12 Months Ended

Dec. 31, 2015

Fair Value Measurement Tables

Financial liabilities measured at fair value on a recurring basis

The following table presents the Company's assets and liabilities that are measured at fair value at December 31, 2015 and 2014 ($ in thousands):

	Fair value measured at December 31, 2015
	Total carrying value at December 31,		Quoted prices in active markets		Significant other observable inputs		Significant unobservable inputs
	2015		(Level 1)		(Level 2)		(Level 3)
Assets
Marketable securities - mutual funds	$	3,392	$	3,392	$	-	$	-
Liabilities
Fair value of warrant liabilities	$	2,959	$	-	$	-	$	2,959

	Fair value measured at December 31, 2014
	Total carrying value at December 31,		Quoted prices in active markets		Significant other observable inputs		Significant unobservable inputs
	2014		(Level 1)		(Level 2)		(Level 3)
Assets
Marketable securities - mutual funds	$	3,500	$	3,500	$	-	$	-

Significant assumptions used in the valuations

A summary of quantitative information with respect to the valuation methodology and significant unobservable inputs used for the Company’s warrant liabilities that are categorized within Level 3 of the fair value hierarchy at the date of issuance and as of December 31, 2015 is as follows:

Date of valuation	July 21, 2015		December 7, 2015	December 31, 2015
Risk-free interest rate	1.69	%	0.57 - 1.67%	0.16% - 1.76%
Expected volatility	100.00	%	114.80%	100% - 115.35%
Expected life (in years)	5.5		0.5 - 5.0	0.3 - 5.1
Expected dividend yield	-		-	-

Changes in the fair value of the Company's Level 3 inputs

The following table sets forth a summary of the changes in the fair value of the Company’s Level 3 financial liabilities that are measured at fair value on a recurring basis for the year ended December 31, 2015 and 2014 ($ in thousands):

	For the Years Ended December 31,
	2015			2014
Beginning balance	$	-		$	48
Recognition of warrant liabilities		3,228			-
Fair value adjustment of warrant liabilities		(269	)		(48	)
Ending balance	$	2,959		$	-