XML 25 R14.htm IDEA: XBRL DOCUMENT v3.7.0.1
Note 2 - Long-term Debt (Details Textual) - USD ($)
3 Months Ended 6 Months Ended
May 25, 2017
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
Debt Instrument, Maturity Date, Percentage of Conversion Rate, 120.00%        
Gain (Loss) on Extinguishment of Debt   $ (3,501,000) $ (3,501,000) $ (2,250,000)
Warrants [Member] | Interest Expense [Member]          
Unrealized Gain (Loss) on Derivatives   (4,000,000)   (4,000,000)  
Warrants Issued to Prior Lenders [Member]          
Class of Warrant or Right, Number of Securities Called by Warrants or Rights 357,500        
Warrants Issued to Lenders [Member]          
Warrants and Rights Outstanding $ 2,900,000 $ 2,900,000   $ 2,900,000  
Class of Warrant or Right, Number of Securities Called by Warrants or Rights 357,500 357,500   357,500  
Warrant Term 5 years        
Class of Warrant or Right, Exercise Price of Warrants or Rights $ 14.94        
Senior Secured Debt [Member]          
Debt Instrument, Fee Amount $ 60,000,000        
Debt Instrument, Additional Amount after Refinance 15,000,000        
Debt Instrument, Maturity Date, Minimum Principal Outstanding Amount $ 10,000,000        
Debt Instrument, Payment-in-kind Rate 6.00%        
Debt Instrument, Cash Rate 2.00%        
Upfront Fee, Recorded as Additional Debt Discount, Percentage 2.00%        
Debt Instrument, Maturity Date, Description The New Senior Secured Debt will mature on the earliest of (a) the four year anniversary of the Closing Date, and (b) the “Springing Maturity Date”, which is defined as the date which is 91 days prior to the maturity date of the 7.00% Convertible Senior Notes of Cadiz due 2020 (the “New Convertible Notes”) that were issued in December 2015 and April 2016 pursuant to the New Convertible Notes Indenture As defined in the Credit Agreement, if on the 91st day preceding the maturity date of the New Convertible Notes, the 5-Day VWAP, as defined in the Credit Agreement, is less than 120% of the then applicable Conversion Rate, as defined in the New Convertible Notes Indenture, and at least $10,000,000 in original principal amount of the New Convertible Notes is outstanding ((a) or (b), as applicable, the “Maturity Date”).        
Senior Secured Debt [Member] | Legal and Finders fees [Member]          
Debt Instrument, Unamortized Discount $ 1,500,000        
Prior Senior Secured Debt [Member]          
Extinguishment of Debt, Amount 45,000,000        
Gain (Loss) on Extinguishment of Debt $ (3,500,000)        
2020 Convertible Senior Notes [Member]          
Debt Instrument, Interest Rate, Stated Percentage 7.00%