XML 41 R53.htm IDEA: XBRL DOCUMENT v3.3.0.814
WARRANTS AND EMBEDDED DERIVATIVES (Details 3) - USD ($)
$ / shares in Units, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Sep. 30, 2015
Sep. 30, 2014
Dec. 31, 2014
Net Carrying value $ 38,894,655 $ 958,918  
Shares Issuable [1] 38,894,655   38,894,655   64,575,762
Derivative Liability [1] $ 1,299 [2]   $ 1,299 [2]   $ 40,091
Total convertible debt [Member]          
Principal Balance     24,734    
Net Carrying value     $ 24,207    
Conversion Price      
Shares Issuable 38,894,655   38,894,655    
Derivative Liability $ 1,299   $ 1,299    
Former 15% Notes [Member] | Senior Secured Notes [Member]          
Original Date of Financing     January 2014    
Principal Balance     $ 6,857    
Net Carrying value     $ 6,857    
Conversion Price $ 0.75   $ 0.75    
Shares Issuable 9,142,460   9,142,460    
Derivative Liability $ 255   $ 255    
Former 15% Notes One [Member] | Senior Secured Notes [Member]          
Original Date of Financing     February 2014    
Principal Balance     $ 12,100    
Net Carrying value     $ 12,100    
Conversion Price $ 0.75   $ 0.75    
Shares Issuable 16,133,333   16,133,333    
Derivative Liability $ 597   $ 597    
Former 15% Notes Two [Member] | Senior Secured Notes [Member]          
Original Date of Financing     February 2014    
Principal Balance     $ 500    
Net Carrying value     $ 500    
Conversion Price $ 0.45   $ 0.45    
Shares Issuable 1,111,111   1,111,111    
Derivative Liability $ 54   $ 54    
Original Issuance [Member] | 5% OID Notes [Member]          
Original Date of Financing     December 2014    
Principal Balance     $ 626    
Net Carrying value     $ 586    
Conversion Price $ 0.45   $ 0.45    
Shares Issuable 1,390,933   1,390,933    
Derivative Liability $ 20   $ 20    
Original Issuance One [Member] | 5% OID Notes [Member]          
Original Date of Financing     January 2015    
Principal Balance     $ 877    
Net Carrying value     $ 835    
Conversion Price $ 0.21   $ 0.21    
Shares Issuable 4,177,110   4,177,110    
Derivative Liability $ 289   $ 289    
Original Issuance Two [Member] | 5% OID Notes [Member]          
Original Date of Financing     January 2015    
Principal Balance     $ 132    
Net Carrying value     $ 127    
Conversion Price $ 0.60   $ 0.60    
Shares Issuable 219,298   219,298    
Derivative Liability      
Original Issuance Three [Member] | 5% OID Notes [Member]          
Original Date of Financing     February 2015    
Principal Balance     $ 197    
Net Carrying value     $ 192    
Conversion Price $ 0.60   $ 0.60    
Shares Issuable 328,948   328,948    
Derivative Liability      
2014 Senior Secured Notes [Member] | Exchanged Notes [Member]          
Original Date of Financing     March 2015    
Principal Balance     $ 1,779    
Net Carrying value     $ 1,465    
Conversion Price $ 0.60   $ 0.60    
Shares Issuable 2,965,364   2,965,364    
Derivative Liability      
Exchanged Note [Member] | Exchanged Notes [Member]          
Original Date of Financing     April 2015    
Principal Balance     $ 1,455    
Net Carrying value     $ 1,344    
Conversion Price $ 0.60   $ 0.60    
Shares Issuable 2,426,098   2,426,098    
Derivative Liability $ 14   $ 14    
Former Demand Note [Member] | Exchanged Notes [Member]          
Original Date of Financing     February 2015    
Principal Balance     $ 211    
Net Carrying value     $ 201    
Conversion Price $ 0.21   $ 0.21    
Shares Issuable 1,000,000   1,000,000    
Derivative Liability $ 70   $ 70    
[1] The debt instruments summarized in Note 7(c) 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.
[2] As of September 30, 2015, the Company has 300,000,000 common shares authorized. As of September 30, 2015, there were 73,149,084 shares issued and outstanding and the Company would need an additional 338,256,528 common shares to accommodate the exercise and conversion of all of the common stock options, warrants, convertible debt, and unvested restricted stock presently outstanding. Accordingly, the Company has an authorized share deficiency of 111,405,612 shares 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. As discussed in Note 17, in October 2015 the Company issued a warrant for the purchase of 40,000,000 shares of common stock, and repaid convertible debt which eliminated approximately 11,000,000 shares that were potentially needed to accommodate conversions as of September 30, 2015. Accordingly, the Company's share deficiency was approximately 140 million shares as of October 30, 2015.