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Significant Accounting Policies (Tables)
12 Months Ended
Dec. 31, 2013
Computation of Basic and Diluted Net Income (Loss) Per Share

The following table sets forth the computation of basic and diluted net income (loss) per share:

 

     For the Years Ended December 31,  

(In thousands, except per share data)

   2013      2012      2011  

Numerator for basic and diluted net loss per share

   $ (11,300)       $ (47,206)       $ (1,900)   

Denominator:

        

Weighted average shares for basic net loss per share

     29,486          26,673          23,572    

Effect of dilutive securities:

        

Weighted average of common stock, stock options and warrants

     —            —            —      
  

 

 

    

 

 

    

 

 

 

Denominators for diluted net loss per share

     29,486          26,673          23,572    
  

 

 

    

 

 

    

 

 

 

Net loss per share—basic

   $ (0.38)       $ (1.77)       $ (0.08)   
  

 

 

    

 

 

    

 

 

 

Net loss per share—diluted

   $ (0.38)       $ (1.77)       $ (0.08)   
  

 

 

    

 

 

    

 

 

 
Summary of Warrant Activity

The tables below summarize warrant activity for 2013 and assumptions utilized to value the warrants (in thousands except for per warrant data):

 

     Original Warrant Issue Date        
     June 3, 2013     November 15,
2013
    Total as of
December 31, 2013
 

Value of warrants issued

   $ 4,392      $ 13,205      $ 17,597   

Changes in fair value, net

     (175 )      (1,851 )      (2,026 ) 

Value of warrants exercised

     (500 )        (500 ) 
  

 

 

   

 

 

   

 

 

 

Value of warrants at December 31, 2013

   $ 3,717      $ 11,354      $ 15,071   
  

 

 

   

 

 

   

 

 

 

Number of warrants outstanding

     1,655        5,015        6,670   
Assumptions Used to Estimate Warrant Values

Assumptions used to estimate warrant values:

 

     Issuance Date  
     June 3, 2013     November 15, 2013  
     At Issuance     At December 31, 2013     At Issuance     At December 31, 2013  

Class A Common Stock: Closing Market Price

   $ 2.94      $ 3.02      $ 3.21      $ 3.02   

Market Price Volatility

     102.93 %      95 %      95 %      95 % 

Expected average term of warrants, in years

     5        4.5        5.5        5.5   

Expected dividend yield

     0        0        0        0