Convertible Preferred Stock and Warrants (Tables)

12 Months Ended

Dec. 31, 2015

The following table summarizes the number of shares subject to purchase under the future purchase rights initially granted, the fair value per share of the senior preferred stock subject to the rights as initially granted, the initial grant date fair value recorded, the fair value of our common stock used in determining such value, and beneficial conversion amounts underlying the preferred stock that were recorded in connection with certain purchases of such preferred stock under the Senior Preferred Purchase Agreement and the related stock options granted to certain members of our board of directors (in thousands except share and per share amounts):



Issuance Date	Number of Shares Subject to Future Purchase Rights Granted	Fair Value per Share of Rights		Grant Date Fair Value Recorded		Common Stock Value Used in Determining Fair Value		Beneficial Conversion on Underlying Preferred Stock/ Options
September 25, 2012	3,750,000	$	2.80	$	3,101	$	2.30	$	—
February 28, 2013	891,250	$	2.83	$	864	$	6.85	$	513
April 30, 2013	461,271	$	2.40	$	379	$	6.85	$	192
June 26, 2013	66,250	$	0.76	$	50	$	6.82	$	264

Schedule of Warrants Outstanding and Exercisable

We have had warrants outstanding and exercisable for 250,646 shares of common stock as of December 31, 2015, 2014 and 2013.

The following table summarizes these warrants:



	As of December 31, 2015
	Warrants Outstanding	Exercise Price		Expiration Date
Series B	107	$	191.69	2/10/2016
Series C	9,919	$	147.91	11/20/2016
Series D	240,620	$	92.99	9/25/2019
Total warrants outstanding	250,646

- Definition

Tabular disclosure of warrants or rights issued. Warrants and rights outstanding are derivative securities that give the holder the right to purchase securities (usually equity) from the issuer at a specific price within a certain time frame. Warrants are often included in a new debt issue to entice investors by a higher return potential. The main difference between warrants and call options is that warrants are issued and guaranteed by the company, whereas options are exchange instruments and are not issued by the company. Also, the lifetime of a warrant is often measured in years, while the lifetime of a typical option is measured in months. Disclose the title of issue of securities called for by warrants and rights outstanding, the aggregate amount of securities called for by warrants and rights outstanding, the date from which the warrants or rights are exercisable, and the price at which the warrant or right is exercisable.

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