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Note 11 - Fair Value Measures (Tables)

3 Months Ended

Mar. 31, 2014

Note 11 - Fair Value Measures (Tables) [Line Items]

Fair Value, Liabilities Measured on Recurring and Nonrecurring Basis [Table Text Block]

						Fair Value Measurements at Reporting Date Using:
		Balance as of December 31,				Quoted Prices in Active Markets for Identical Assets				Significant Other Observable Inputs				Significant Unobservable Inputs
Description		2013				(Level 1)				(Level 2)				(Level 3)

Liabilities
Convertible notes		$	4,537,000			$	—			$	—			$	4,537,000
Warrant and option liabilities		$	2,680,000			$	—			$	—			$	2,680,000
Total Liabilities		$	7,217,000			$	—			$	—			$	7,217,000

						Fair Value Measurements at Reporting Date Using:
		Balance as of March 31,				Quoted Prices in Active Markets for Identical Assets				Significant Other Observable Inputs				Significant Unobservable Inputs
Description		2014				(Level 1)				(Level 2)				(Level 3)

Liabilities
Convertible notes		$	4,904,000			$	—			$	—			$	4,904,000
Warrant and option liabilities		$	3,691,000			$	—			$	—			$	3,691,000
Total Liabilities		$	8,595,000			$	—			$	—			$	8,595,000

Fair Value, by Balance Sheet Grouping [Table Text Block]

		Fair Value of 2011 Convertible Notes				Fair Value of 2011 Warrant Liabilities				Fair Value of 2012 Convertible Notes				Fair Value of 2012 Warrant Liabilities				Fair Value of Third Tranche Convertible Notes				Fair Value of Third Tranche Warrant Liabilities				February 2013 Warrants				February 2013 SPA Option				September 2013 Warrants				September 2013 SPA Options				Total
Balance December 31, 2012		$	6,510,000			$	2,000,000			$	1,588,000			$	1,800,000			$	—			$	—			$	—			$	—			$	—			$	—			$	11,898,000
Allocation of initial proceeds		$	—			$	—			$	—			$	—			$	142,000			$	108,000			$	—			$	—			$	—			$	—			$	250,000
Initial fair value adjustment		$	—			$	—			$	—			$	—			$	252,000			$	192,000			$	—			$	—			$	—			$	—			$	444,000

January 16, 2013		$	6,510,000			$	2,000,000			$	1,588,000			$	1,800,000			$	394,000			$	300,000			$	—			$	—			$	—			$	—			$	12,592,000

Amortization of debt discount		$	38,000			$	—			$	55,000			$	—			$	2,000			$	—			$	—			$	—			$	—			$	—			$	95,000
Fair value adjustment		$	(370,000	)		$	—			$	(72,000	)		$	—			$	(8,000	)		$	—			$	—			$	—			$	—			$	—			$	(450,000	)
Carrying value of old debt at modification		$	(6,178,000	)		$	—			$	(1,571,000	)		$	—			$	(388,000	)		$	—			$	—			$	—			$	—			$	—			$	(8,137,000	)
Fair value of new debt at modification		$	6,070,000			$	—			$	1,516,000			$	—			$	386,000			$	—			$	—			$	—			$	—			$	—			$	7,972,000
Modification of warrants		$	—			$	1,916,000			$	—			$	632,000			$	—			$	—			$	—			$	—			$	—			$	—			$	2,548,000
Cancellation/retirement of warrants		$	—			$	—			$	—			$	(800,000	)		$	—			$	(300,000	)		$	—			$	—			$	—			$	—			$	(1,100,000	)
Fair value of instruments at issuance		$	—			$	—			$	—			$	—			$	—			$	—			$	2,759,000			$	1,211,000			$	—			$	—			$	3,970,000

February 22, 2013		$	6,070,000			$	3,916,000			$	1,516,000			$	1,632,000			$	386,000			$	—			$	2,759,000			$	1,211,000			$	—			$	—			$	17,490,000

Exercise of warrants		$	—			$	(844,000	)		$	—			$	—			$	—			$	—			$	—			$	—			$	—			$	—			$	(844,000	)
Fair value adjustment		$	1,130,000			$	2,014,000			$	284,000			$	326,000			$	96,000			$	—			$	884,000			$	583,000			$	—			$	—			$	5,317,000

March 31, 2013		$	7,200,000			$	5,086,000			$	1,800,000			$	1,958,000			$	482,000			$	—			$	3,643,000			$	1,794,000			$	—			$	—			$	21,963,000

Balance at December 31, 2013		$	3,290,000			$	179,000			$	1,010,000			$	141,000			$	237,000			$	—			$	1,441,000			$	—			$	627,000			$	292,000			$	7,217,000

Fair value adjustment		$	200,000			$	179,000			$	120,000			$	18,000			$	47,000			$	—			$	540,000			$	—			$	215,000			$	59,000			$	1,378,000

March 31, 2014		$	3,490,000			$	358,000			$	1,130,000			$	159,000			$	284,000			$	—			$	1,981,000			$	—			$	842,000			$	351,000			$	8,595,000

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]

Input		February 22, 2013				March 31, 2013
Stock Price		$	0.14			$	0.17
Exercise Price		$	0.15			$	0.15
Expected Life (in years)			0.75				0.64
Stock Volatility			110	%			110	%
Risk-Free Rate			0.15	%			0.84	%
Dividend Rate			0	%			0	%
Outstanding Shares of Common Stock			73,042,764				77,856,502

Input		February 22, 2013				March 31, 2013
Stock Price (simulated)		$	0.10			$	0.66
Exercise Price		$	0.20			$	0.20
Expected Life (in years)			5.00				5.0
Stock Volatility			110	%			110	%
Risk-Free Rate			1.158	%			1.025	%
Number of Steps			10,000				10,000

Fair Value Inputs, Liabilities, Quantitative Information [Table Text Block]

Input		December 31, 2013				March 31, 2014
Stock Price		$	0.04			$	0.04
Exercise Price		$	0.08			$	0.08
Expected Life (in years)			4.72				4.47
Stock Volatility			100	%			100	%
Risk-Free Rate			1.61	%			1.51	%
Number of Steps			100,000				100,000

Input		December 31, 2013				March 31, 2014
Stock Price		$	0.04			$	0.04
Exercise Price		$	0.06			$	0.06
Expected Life (in years)			0.463				0.217
Stock Volatility			100	%			100	%
Risk-Free Rate			0.10	%			0.05	%
Dividend Rate			0	%			0	%
Outstanding Shares of Common Stock			160,664,862				160,664,862

Input		December 31, 2013				March 31, 2014
Stock Price (simulated)		$	0.04			$	0.04
Exercise Price		$	0.08			$	0.08
Expected Life (in years)			0.463				0.217
Stock Volatility			100	%			100	%
Risk-Free Rate			0.10	%			0.05	%
Number of Steps			10,000				10,000

Proposed Merger Transaction [Member]

Note 11 - Fair Value Measures (Tables) [Line Items]

Fair Value Inputs, Liabilities, Quantitative Information [Table Text Block]

Input		March 31, 2014
Stock Price (simulated)		$	0.04
Strike Price		$	0.06
Expected remaining term (in years)			1.25
Stock Volatility			95	%
Risk-Free Rate			0.2	%
Dividend Rate			0	%
Effective discount rate			23.9	%
Probability of forced redemption or transaction event			20% - 50	%

Input		March 31, 2014
Stock Price (simulated)		$	0.04
Strike Price		$	0.06
Expected remaining term (in years)			1.25
Stock Volatility			95	%
Risk-Free Rate			0.2	%
Dividend Rate			0	%
Effective discount rate			32.5	%
Probability of forced redemption or transaction event			20% - 50	%

		March 31, 2014
Input
Stock Price (simulated)		$	0.04
Strike Price		$	0.06
Expected remaining term (in years)			1.25
Stock Volatility			95	%
Risk-Free Rate			0.4	%
Dividend Rate			0	%
Effective discount rate			32.5	%
Probability of forced redemption or transaction event			20% - 50	%

Black-Sholes-Merton Option Pricing Model [Member] | Warrant [Member]

Note 11 - Fair Value Measures (Tables) [Line Items]

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]

Input		February 22, 2013				March 31, 2013				December 31, 2013
Stock Price		$	0.14			$	0.17			$	0.04
Exercise Price		$	0.15			$	0.098			$	0.098
Expected Life (in years)			3.00				2.90				2.15
Stock Volatility			100	%			100	%			95	%
Risk-Free Rate			0.40	%			0.24	%			0.21	%
Dividend Rate			0	%			0	%			0	%
Outstanding Shares of Common Stock			59,576,097				64,389,835				160,664,862

Input		February 22, 2013				March 31, 2013				December 31, 2013
Stock Price		$	0.14			$	0.17			$	0.04
Exercise Price		$	0.15			$	0.098			$	0.098
Expected Life (in years)			4.38				4.26				3.50
Stock Volatility			100	%			100	%			100	%
Risk-Free Rate			0.70	%			0.62	%			1.02	%
Dividend Rate			0	%			0	%			0	%
Outstanding Shares of Common Stock			59,576,097				64,389,835				160,664,862

Black-Sholes-Merton Option Pricing Model [Member] | Third Tranche Warrants [Member]

Note 11 - Fair Value Measures (Tables) [Line Items]

Fair Value Inputs, Liabilities, Quantitative Information [Table Text Block]

Input		January 16, 2013
Stock Price		$	0.15
Exercise Price		$	0.15
Expected Life (in years)			5
Stock Volatility			110	%
Risk-Free Rate			0.75	%
Dividend Rate			0	%
Outstanding Shares of Common Stock			32,434,430

Monte Carlo Simulation Model [Member] | Warrant [Member]

Note 11 - Fair Value Measures (Tables) [Line Items]

Fair Value Inputs, Liabilities, Quantitative Information [Table Text Block]

		March 31, 2014
Input
Stock Price (simulated)		$	0.04
Strike Price		$	0.098
Expected remaining term (in years)			1.89
Stock Volatility			95	%
Risk-Free Rate			0.41	%
Dividend Rate			0	%

Input		March 31, 2014
Stock Price (simulated)		$	0.04
Strike Price		$	0.098
Expected remaining term (in years)			3.26
Stock Volatility			95	%
Risk-Free Rate			1.01	%
Dividend Rate			0	%

Monte Carlo Simulation Model [Member] | February 2013 Warrants [Member]

Note 11 - Fair Value Measures (Tables) [Line Items]

Fair Value Inputs, Liabilities, Quantitative Information [Table Text Block]

Input		February 22, 2013				March 31, 2013				December 31, 2013				March 31, 2014
Stock Price		$	0.12			$	0.16				0.04			$	0.04
Exercise Price		$	0.20			$	0.20				0.08			$	0.08
Expected Life (in years)			5				4.90				4.15				3.89
Stock Volatility			110	%			110	%			100	%			100	%
Risk-Free Rate			0.84	%			0.75	%			1.34	%			1.27	%
Number of Steps			100,000				100,000				100,000				100,000
Outstanding Shares of Common Stock			59,576,097				64,389,835				160,664,862				160,664,862

Convertible Notes [Member]

Note 11 - Fair Value Measures (Tables) [Line Items]

Fair Value Inputs, Liabilities, Quantitative Information [Table Text Block]

Input		February 22, 2013				March 31, 2013				December 31, 2013
Stock Price		$	0.14			$	0.17			$	0.04
Strike Price		$	0.10			$	0.10			$	0.06
Expected remaining term (in years)			2.35				2.25				1.50
Stock Volatility			100	%			100	%			95	%
Risk-Free Rate			0.32	%			0.28	%			0.25	%
Dividend Rate			0	%			0	%			0	%
Outstanding Shares of Common Stock			59,576,097				64,389,835				160,664,862
Effective discount rate			13.2	%			11.6	%			19.6	%
Probability of forced redemption			20	%			20	%			20	%

Input		February 22, 2013				March 31, 2013				December 31, 2013
Stock Price		$	0.14			$	0.17			$	0.04
Exercise Price		$	0.10			$	0.10			$	0.06
Expected remaining term (in years)			2.35				2.25				1.50
Stock Volatility			100	%			100	%			95	%
Risk-Free Rate			0.32	%			0.28	%			0.26	%
Dividend Rate			0	%			0	%			0	%
Outstanding Shares of Common Stock			59,576,097				64,389,835				160,664,862
Effective discount rate			13.2	%			13.2	%			19.6	%
Probability of forced redemption			20	%			20	%			20	%

Input		January 16, 2013				February 22, 2013				March 31, 2013				December 31, 2013
Stock Price		$	0.15			$	0.14			$	0.17			$	0.04
Exercise Price		$	0.10			$	0.10			$	0.10			$	0.06
Expected remaining term (in years)			3				2.90				2.80				2.04
Stock Volatility			100	%			100	%			100	%			95	%
Risk-Free Rate			0.36	%			0.39	%			0.34	%			0.40	%
Dividend Rate			0	%			0	%			0	%			0	%
Outstanding Shares of Common Stock			32,434,430				59,576,097				64,389,835				160,664,862
Effective discount rate			13.2	%			13.2	%			13.2	%			21.3	%
Probability of forced redemption			20	%			20	%			20	%			20	%

Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities.

+ References+ Details

Tabular disclosure of liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring and/or nonrecurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). Where the quoted price in an active market for the identical liability is not available, the Level 1 input is the quoted price of an identical liability when traded as an asset.

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