Debt and Notes Payable (Tables)

3 Months Ended

Mar. 31, 2016

Debt and Notes Payable

Schedule of long term debt

Long-term debt consisted of the following (in thousands):

	March 31, 2016			December 31, 2015
Massachusetts Development Finance Agency	$	408		$	481
Less total discount	(2		)	(3		)
	406			478
Less current installments	301			295
Long-term debt, excluding current installments	$	105		$	183

Schedule of principal payments due

The principal payments due as of March 31, 2016 consisted of the following (in thousands):

	Principal Payment
2016 (remainder of the year)	$	226
2017	182
Total	$	408

Common stock warrants

Debt and Notes Payable

Schedule of inputs and assumptions to calculate the fair value of the warrants

The Company used the Black-Scholes option pricing model to calculate the fair value of the warrants based on the following inputs and assumptions:

Risk-free interest rate	1.6	%
Expected term (in years)	5
Dividend yield	—	%
Expected volatility	50	%