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Fair Value Measurements and Fair Value of Financial Instruments (Tables)
 12 Months Ended
Dec. 31, 2016
Fair Value Disclosures [Abstract]  
Schedule of Carrying Value and Fair Value by Fair Value Hierarchy of Financial Instruments

These tables present the carrying value and fair value, by fair value hierarchy, of our financial instruments, excluding cash and cash equivalents, accounts receivable and accounts payable at December 31, 2016 and 2015, respectively (in thousands). 

 

 

 

 

 

 

Fair Value Measurements at December 31, 2016 (In thousands)

 

 

Fair Value at

12/31/2016

 

 

Quoted Prices in

Active Markets for

Identical Assets

(Level 1)

 

 

Significant Other

Observable Inputs

(Level 2)

 

 

Significant

Unobservable

Inputs (Level 3)

 

Recurring:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Derivative Warrant Liability

$

2,698

 

 

$

-

 

 

$

1,884

 

 

$

814

 

2017 Notes

$

25,769

 

 

$

-

 

 

$

-

 

 

$

25,769

 

Total Recurring Fair Value Measurements

$

28,467

 

 

$

-

 

 

$

1,884

 

 

$

26,583

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Nonrecurring

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Corn and finished goods inventory

$

1,327

 

 

$

108

 

 

$

1,219

 

 

$

-

 

 

$

1,327

 

 

$

108

 

 

$

1,219

 

 

$

-

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fair Value Measurements at December 31, 2015 (In thousands)

 

 

Fair Value at

12/31/2015

 

 

Quoted Prices in

Active Markets for

Identical Assets (Level 1)

 

 

Significant Other

Observable Inputs

(Level 2)

 

 

Significant

Unobservable

Inputs (Level 3)

 

Recurring:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Derivative Warrant Liability

$

10,493

 

 

$

-

 

 

$

4,338

 

 

$

6,155

 

2017 Notes

$

21,565

 

 

$

-

 

 

$

-

 

 

$

21,565

 

Total Recurring Fair Value Measurements

$

32,058

 

 

$

-

 

 

$

4,338

 

 

$

27,720

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Nonrecurring

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Corn and finished goods inventory

$

1,091

 

 

$

530

 

 

$

561

 

 

$

-

 

 

$

1,091

 

 

$

530

 

 

$

561

 

 

$

-

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 
Schedule of Fair Value Measurements Using Significant Unobservable Inputs (Level 3)

 

 

Fair Value Measurements Using Significant Unobservable Inputs

(Level 3) (in thousands)

 

 

 

Derivative Warrant Liability

 

 

2017 Notes

 

Opening Balance

 

$

6,155

 

 

$

21,565

 

Transfers into Level 3

 

 

-

 

 

 

-

 

Transfers out of Level 3

 

 

-

 

 

 

-

 

Total (gains) or losses for the period

 

 

-

 

 

 

-

 

Included in earnings

 

 

2,229

 

 

 

4,204

 

Included in other comprehensive income

 

 

-

 

 

 

-

 

Purchases, issues, sales and settlements

 

 

-

 

 

 

-

 

Purchases

 

 

-

 

 

 

-

 

Issues

 

 

2,162

 

 

 

-

 

Sales

 

 

-

 

 

 

-

 

Settlements

 

 

(9,732

)

 

 

-

 

Closing balance

 

$

814

 

 

$

25,769