XML 38 R48.htm IDEA: XBRL DOCUMENT v3.2.0.727
WARRANTS AND EMBEDDED DERIVATIVES (Details) - USD ($)
$ in Thousands
Jun. 30, 2015
[1]
Dec. 31, 2014
Derivative Instruments and Hedging Activities Disclosure [Abstract]    
Number of Shares, Warrants 258,953,833 113,520,880
Number of Shares, Embedded derivatives in convertible debt [2] 37,682,111 64,575,762
Number of Shares, Total 296,635,944 178,096,642
Liability, Warrants $ 65,625 $ 123,898
Liability, Embedded derivatives in convertible debt [2] 1,809 40,091
Liability, Total 67,434 163,989
Less current portion (1,809) (82,426) [2]
Long-term portion $ 65,625 $ 81,563 [2]
[1] As of June 30, 2015, the Company has 300,000,000 common shares authorized of which 70,482,486 were issued and outstanding. The Company would need approximately 330,000,000 common shares to accommodate the exercise and conversion of all of the common stock options, warrants, convertible debt, and unvested restricted stock presently outstanding, and would not be able to accommodate all such exercise and conversion requests through the remaining unissued common shares. Accordingly, the Company could be required to settle a portion of its warrants and derivative liabilities in cash which requires that they continue to be classified as liabilities rather than equity instruments.
[2] Certain of the debt instruments summarized in Note 7 contain features that permit the holders to elect conversion of the debt to shares of the Company's Common Stock. The Company bifurcates the conversion features from the related debt instruments and accounts for each component at its estimated fair value with updated valuations performed at the end of each calendar quarter.