Fair Value of Financial Assets and Liabilities (Tables)

9 Months Ended

Sep. 30, 2016

Fair Value Disclosures [Abstract]

Schedule of fair value assets and liabilities

The following table presents the Company’s assets and liabilities that are measured at fair value at September 30, 2016 and December 31, 2015 ($ in thousands):

	Fair value measured at September 30, 2016
	Total carrying value at September 30,		Quoted prices in active markets		Significant other observable inputs		Significant unobservable inputs
	2016		(Level 1)		(Level 2)		(Level 3)
Assets
Marketable securities - corporate bonds	$	6,968	$	-	$	6,968	$	-
Liabilities
Fair value of warrant liabilities	$	904	$	-	$	-	$	904

	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

Schedule of fair value assumptions

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 September 30, 2016 is as follows:

Date of valuation	September 30, 2016
Risk-free interest rate	0.45% - 1.14%
Expected volatility	100% - 147.10%
Expected life (in years)	0.07 - 4.31
Expected dividend yield	-

Schedule of fair value of the company's level 3 financial liabilities

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 as of September 30, 2016 and 2015 ($ in thousands):

	Fair Value of Level 3 financial liabilities
	September 30, 2016			September 30, 2015
Beginning balance	$	2,959		$	-
Recognition of warrant liabilities		-			-
Fair value adjustment of warrant liabilities		(2,055	)		-
Ending balance	$	904		$	-