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FAIR VALUE MEASUREMENTS (Details) - 2013 Placement Agent Warrants [Member]
$ in Thousands
9 Months Ended
Sep. 30, 2016
USD ($)
Beginning balance $ 267
Change in fair value 555
Ending Balance $ 822 [1]
[1] The warrants are valued using a trinomial lattice valuation methodology because that model embodies all of the relevant assumptions that address the features underlying these instruments. Significant assumptions used in the model at September 30, 2016 included the market price of our common stock, an expected dividend yield of zero, expected term of December 31, 2017, expected volatility of our common stock over the expected life of the warrants of 80.8%, estimated based on a review of our historical volatility, and risk-free rates of return of 0.9% for the 2013 warrants based on constant maturity rates published by the U.S. Federal Reserve, applicable to the expected term of the warrants. We also take into consideration a probability assumption for anti-dilution.