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

9 Months Ended

Sep. 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.  

	September 30,			December 31,
	2016			2015
Stock price	$	0.48		$	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		0.41	%		0.74	%
Estimated stock volatility		150.0	%		140.0	%
Estimated credit spread		20.0	%		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		-		3,629			3,629
Balance - September 30, 2016	$	26,108	$	(914	)	$	25,194

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 nine months ended September 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.

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		-			3,193			-			3,193
Amortization of debt issue costs		-			-			124			124
Exchange of 2022 Notes		(11,400	)		-			-			(11,400	)
Write-off of debt discount and debt issue costs associated with    extingishment of debt		-			2,429			92			2,521
Balance - September 30, 2016	$	11,000		$	(2,142	)	$	(79	)	$	8,779