Senior Secured Debt, Secured Debt and 2022 Notes (Tables)

6 Months Ended

Jun. 30, 2016

Debt Instrument [Line Items]

Inputs to Lattice Model used to Value Term Loan and 2017 Notes for which Fair Value Option was Elected

The following table sets forth the inputs to the lattice model that were used to value the 2017 Notes for which the fair value option was elected.  

	June 30,			December 31,
	2016			2015
Stock price	$	0.59		$	0.62
Conversion Rate		57.55			57.55
Conversion Price	$	17.38		$	17.38
Maturity date	March 15, 2017			March 15, 2017
Risk-free interest rate		0.40	%		0.74	%
Estimated stock volatility		150.0	%		140.0	%
Estimated credit spread		30.0	%		30.0	%

Information Pertaining to Convertible Notes

The following table sets forth information pertaining to the 2017 Notes which is included in the Company’s consolidated balance sheets (in thousands).

	Principal Amount of 2017 Notes		Change in Estimated Fair Value			Total
Balance - December 31, 2015	$	26,108	$	(4,543	)	$	21,565
Loss from change in fair value of debt		-		1,775			1,775
Balance - June 30, 2016	$	26,108	$	(2,768	)	$	23,340

Changes in certain inputs into the lattice model can have a significant impact on changes in the estimated fair value of the 2017 Notes. For example, the estimated fair value will generally decrease with: (1) a decline in the stock price; (2) decreases in the estimated stock volatility; and (3) a decrease in the estimated credit spread. The change in the estimated fair value of the 2017 Notes during the six months ended June 30, 2016, represents an unrealized loss which has been recorded as a loss from change in fair value of 2017 Notes in the consolidated statements of operations.

Secured Debt Included in Consolidated Balance Sheets

The following table sets forth information pertaining to the Company’s secured debt issued to TriplePoint Capital LLC (“TriplePoint”) which is included in the Company’s consolidated balance sheets (in thousands).

	June 30,			December 31,
	2016			2015
Secured debt
TriplePoint - May 2014 Advance	$	333		$	504
Total secured debt		333			504
Less:
Unamortized debt discounts		(8	)		(19	)
Debt issue costs		(1	)		(2	)
		324			483
Less current portion of secured debt, net		(324	)		(330	)
Long-term portion of secured debt, net	$	-		$	153

Debt discounts and debt issue costs associated with the issuance of the Company’s secured debt and convertible notes are recorded in the consolidated balance sheets as a reduction to related debt balances. The Company amortizes debt discounts and debt issue costs to interest expense over the term of the debt or expected life of the debt using the effective interest method.

2022 Notes

Debt Instrument [Line Items]

Information Pertaining to Convertible Notes

The following table sets forth information pertaining to the 2022 Notes which is included in the Company’s consolidated balance sheets (in thousands).

	Principal Amount of 2022 Notes		Debt Discount			Debt Issue Costs			Total
Balance - December 31, 2015	$	22,400	$	(7,764	)	$	(295	)	$	14,341
Amortization of debt discount		-		2,119			-			2,119
Amortization of debt issue costs		-		-			85			85
Balance - June 30, 2016	$	22,400	$	(5,645	)	$	(210	)	$	16,545