LONG–TERM DEBT EXCHANGE	6 Months Ended
Jun. 30, 2018
Debt Disclosure [Abstract]
LONG–TERM DEBT EXCHANGE	NOTE 2. LONG–TERM DEBT EXCHANGE In January 2018, we consummated an exchange offer and consent solicitation (the “Exchange”) related to our 10% Second Lien Notes due 2019 (the “Second Lien Notes”). Pursuant to a restructuring support agreement with holders of approximately 85% of the par value of our Second Lien Notes, we exchanged $78.0 million of our Second Lien Notes and $7 thousand of our 10% Senior Secured Notes due 2019 (the “Senior Notes”) for (i) 0.8 million shares of common stock, (ii) 0.03 million shares of Series A preferred stock, (iii) 0.9 million shares of Series B preferred stock, and (iv) 8.3 million Series C warrants. We accounted for the Exchange as an extinguishment as we were legally released of our obligations upon delivery and acceptance of the respective equity securities and we recognized a gain of $0.1 million (see Note 4). We allocated the carrying value of the debt exchanged to the respective equity securities based on their relative fair value. The Series A preferred stock was recorded at $62.0 million, less allocated stock issuance costs of $3.6 million. The Series B preferred stock was recorded at $10.8 million, the Series C warrants were recorded at $4.8 million and the common stock was recorded at $0.5 million (see Note 6).

NOTE 2. LONG–TERM DEBT EXCHANGE

In January 2018, we consummated an exchange offer and consent solicitation (the “Exchange”) related to our 10% Second Lien Notes due 2019 (the “Second Lien Notes”). Pursuant to a restructuring support agreement with holders of approximately 85% of the par value of our Second Lien Notes, we exchanged $78.0 million of our Second Lien Notes and $7 thousand of our 10% Senior Secured Notes due 2019 (the “Senior Notes”) for (i) 0.8 million shares of common stock, (ii) 0.03 million shares of Series A preferred stock, (iii) 0.9 million shares of Series B preferred stock, and (iv) 8.3 million Series C warrants. We accounted for the Exchange as an extinguishment as we were legally released of our obligations upon delivery and acceptance of the respective equity securities and we recognized a gain of $0.1 million (see Note 4).

We allocated the carrying value of the debt exchanged to the respective equity securities based on their relative fair value. The Series A preferred stock was recorded at $62.0 million, less allocated stock issuance costs of $3.6 million. The Series B preferred stock was recorded at $10.8 million, the Series C warrants were recorded at $4.8 million and the common stock was recorded at $0.5 million (see Note 6).