The proceeds we received in 2014, and its fair value on the CASI Out-License execution date, consisted of the following:



CASI common stock (5.4 million shares)	$	8,649	(a)
CASI secured promissory note, net of fair value discount ($1.5 million face value and 0.5% annual coupon)	1,310		(b)
Total consideration received, net of fair value discount	$	9,959	(c)

(a) Value determined based on the September 17, 2014 closing price of 5.4 million shares of CASI common stock on the NASDAQ Capital Market of $1.60 per share.

(b) Value estimated using the terms of the $1.5 million promissory note, the application of a synthetic debt rating based on CASI’s publicly-available financial information, and the prevailing interest yields on similar public debt securities as of September 17, 2014. This promissory note has been reclassified in the accompanying Consolidated Balance Sheets as of December 31, 2018 to "other receivables" (presented within current assets) from "other assets" (presented within non-current assets) due to its maturity date (as amended) of September 17, 2019.

(c) Presented within “license fees and service revenue” in the accompanying Consolidated Statements of Operations for the year ended December 31, 2015 (see below).