Document_And_Entity_Informatio
Document And Entity Information (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Mar. 28, 2014 | Jun. 30, 2013 | |
Document Information [Line Items] | ' | ' | ' |
Entity Registrant Name | 'MGT CAPITAL INVESTMENTS INC | ' | ' |
Entity Central Index Key | '0001001601 | ' | ' |
Current Fiscal Year End Date | '--12-31 | ' | ' |
Entity Filer Category | 'Smaller Reporting Company | ' | ' |
Trading Symbol | 'MGT | ' | ' |
Entity Common Stock, Shares Outstanding | ' | 8,866,686 | ' |
Document Type | '10-K | ' | ' |
Amendment Flag | 'false | ' | ' |
Document Period End Date | 31-Dec-13 | ' | ' |
Document Fiscal Period Focus | 'FY | ' | ' |
Document Fiscal Year Focus | '2013 | ' | ' |
Entity Well-known Seasoned Issuer | 'No | ' | ' |
Entity Voluntary Filers | 'No | ' | ' |
Entity Current Reporting Status | 'Yes | ' | ' |
Entity Public Float | ' | ' | $26,303,084 |
CONSOLIDATED_BALANCE_SHEETS
CONSOLIDATED BALANCE SHEETS (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Current assets: | ' | ' |
Cash and cash equivalents | $4,642 | $3,443 |
Accounts receivable | 43 | 9 |
Prepaid expenses and other current assets | 132 | 340 |
Total current assets | 4,817 | 3,792 |
Non-current assets: | ' | ' |
Restricted cash | 140 | 2,039 |
Property and equipment, at cost, net | 45 | 25 |
Intangible assets, net | 2,423 | 1,795 |
Goodwill | 6,444 | 0 |
Other non-current assets | 4 | 0 |
Total assets | 13,873 | 7,651 |
Current liabilities: | ' | ' |
Accounts payable | 228 | 242 |
Accrued expenses | 94 | 272 |
Player deposit liability | 647 | 0 |
Other payables | 16 | 67 |
Total current liabilities | 985 | 581 |
Non-current liabilities: | ' | ' |
Derivative liability - Warrants | 0 | 7,166 |
Total liabilities | 985 | 7,747 |
Commitments and contingencies: | ' | ' |
Redeemable convertible preferred stock - Temporary equity: | ' | ' |
Liquidation preference - $nil (2012: $4,547) | ' | ' |
Stockholders' equity/(deficit): | ' | ' |
Common Stock, $0.001 par value; 75,000,000 shares authorized; 8,848,686 and 3,251,187 shares issued and outstanding at December 31, 2013 and 2012, respectively | 9 | 3 |
Additional paid-in capital | 304,886 | 282,998 |
Accumulated other comprehensive loss | -281 | -281 |
Accumulated deficit | -293,833 | -283,631 |
Total stockholders' equity / (deficit) | 10,781 | -911 |
Non-controlling interests | 2,107 | 768 |
Total equity /(deficit) | 12,888 | -143 |
Total stockholders' equity/(deficit), liabilities and non-controlling interest | 13,873 | 7,651 |
Series A Convertible Preferred Stock [Member] | ' | ' |
Redeemable convertible preferred stock - Temporary equity: | ' | ' |
Preferred Stock, Series A Convertible Preferred, $0.001 par value; 1,416,160 and 1,394,766 shares authorized at December 31, 2013 and 2012, respectively; 9,413 and 1,394,766 shares issued and outstanding at December 31, 2013 and 2012, respectively | 0 | 47 |
Undesignated Preferred Stock [Member] | ' | ' |
Stockholders' equity/(deficit): | ' | ' |
Undesignated Preferred Stock, $0.001 par value; 8,583,840 and 8,605,234 shares authorized at December 31, 2013 and 2012, respectively. No shares authorized, issued and outstanding at December 31, 2013 and 2012 respectively. | $0 | $0 |
CONSOLIDATED_BALANCE_SHEETS_Pa
CONSOLIDATED BALANCE SHEETS [Parenthetical](USD ($)) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, except Share data, unless otherwise specified | Series A Convertible Preferred Stock [Member] | Series A Convertible Preferred Stock [Member] | Undesignated Preferred Stock [Member] | Undesignated Preferred Stock [Member] | ||
Preferred stock,par value (in dollars per share) | ' | ' | $0.00 | $0.00 | $0.00 | $0.00 |
Preferred stock, shares authorized | ' | ' | 1,416,160 | 1,394,766 | 8,583,840 | 8,605,234 |
Preferred stock, shares issued | ' | ' | 9,413 | 1,394,766 | 0 | 0 |
Preferred stock, shares outstanding | ' | ' | 9,413 | 1,394,766 | 0 | 0 |
Common stock, par value (in dollars per share) | $0.00 | $0.00 | ' | ' | ' | ' |
Common stock, shares authorized | 75,000,000 | 75,000,000 | ' | ' | ' | ' |
Common stock, shares issued | 8,848,686 | 3,251,187 | ' | ' | ' | ' |
Common stock, shares outstanding | 8,848,686 | 3,251,187 | ' | ' | ' | ' |
Preferred Stock, Liquidation Preference, Value | $0 | $4,547 | ' | ' | ' | ' |
CONSOLIDATED_STATEMENTS_OF_OPE
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (USD $) | 12 Months Ended | |
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Revenues | ' | ' |
Software and devices | $78 | $222 |
Services - Consulting | 97 | 187 |
Gaming | 221 | 0 |
Revenues | 396 | 409 |
Cost of revenues | ' | ' |
Software and devices | 0 | 92 |
Services - Consulting | 63 | 173 |
Gaming | 496 | 0 |
Cost of Revenues | 559 | 265 |
Gross margin | -163 | 144 |
Operating expenses: | ' | ' |
General and administrative | 9,115 | 4,551 |
Sales and marketing | 161 | 0 |
Research and development | 73 | 83 |
Operating Expenses, Total | 9,349 | 4,634 |
Operating loss | -9,512 | -4,490 |
Other non-operating income / (expense): | ' | ' |
Interest and other income / (expense) | 30 | -99 |
Gain on sale of patent, net | 750 | 0 |
Change in fair value of warrants | -2,204 | 557 |
Accretion of debt discount and amortization deferred financing costs | 0 | -324 |
Loss on extinguishment of convertible note | 0 | -355 |
Other Nonoperating Income (Expense) | -1,424 | -221 |
Net loss before income taxes and non-controlling interest | -10,936 | -4,711 |
Income tax expense | 0 | -14 |
Net loss before non-controlling interest | -10,936 | -4,725 |
Net loss attributable to non-controlling interest | 734 | 1,121 |
Net loss attributable to MGT | -10,202 | -3,604 |
Less: | ' | ' |
Warrant - Deemed Dividend (in excess of proceeds received) | 0 | -2,231 |
Quarterly dividend on Series A Preferred Stock | -70 | -47 |
Net loss applicable to Common shareholders | -10,272 | -5,882 |
Per-share data: | ' | ' |
Basic and diluted loss per share (in dollars per share) | ($1.84) | ($2.62) |
Weighted average number of common shares outstanding (in shares) | 5,590,620 | 2,245,465 |
Net loss as reported | -10,936 | -4,725 |
Other comprehensive loss: | ' | ' |
Unrealized foreign exchange gains | 0 | 49 |
Comprehensive loss | -10,936 | -4,676 |
Comprehensive loss attributable to non-controlling interest | 0 | 1,095 |
Comprehensive loss attributable to MGT | ($10,936) | ($3,581) |
REDEEMABLE_PREFERRED_STOCK_AND
REDEEMABLE PREFERRED STOCK AND STOCKHOLDERS' (DEFICIT)/EQUITY (USD $) | Total | Common Stock [Member] | Additional Paid-in Capital [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | Retained Earnings [Member] | Parent [Member] | Noncontrolling Interest [Member] | Redeemable Convertible Preferred Stock [Member] |
In Thousands, except Share data | ||||||||
Balance at Dec. 31, 2011 | $3,647 | $2 | $283,240 | ($4,861) | ($280,027) | ($1,646) | $5,293 | $0 |
Balance (in shares) at Dec. 31, 2011 | ' | 2,109 | ' | ' | ' | ' | ' | 0 |
Cash in lieu of fractional shares for MGT reverse / forward split | -5 | ' | -5 | ' | ' | -5 | ' | ' |
Cash in lieu of fractional shares for MGT reverse/ forward split (in shares) | ' | -4 | ' | ' | ' | ' | ' | ' |
Warrants issued in connection with issuance of convertible note, net of issuance costs $100 | 400 | ' | 400 | ' | ' | 400 | ' | ' |
Beneficial conversion on issuance of convertible note | 500 | ' | 500 | ' | ' | 500 | ' | ' |
Beneficial conversion at extinguishment of convertible note | -1,341 | ' | -1,341 | ' | ' | -1,341 | ' | ' |
Stock issued for services | 315 | ' | 315 | ' | ' | 315 | ' | ' |
Stock issued for services (in shares) | ' | 75 | ' | ' | ' | ' | ' | ' |
Stock issued on extinguishment of convertible note | 415 | ' | 415 | ' | ' | 415 | ' | ' |
Stock issued on extinguishment of convertible note (in shares) | ' | 100 | ' | ' | ' | ' | ' | ' |
Non-controlling share of MGT Gaming, Inc. | 862 | ' | ' | ' | ' | 0 | 862 | ' |
Warrant - Deemed Dividend (in excess of proceeds received) | -2,231 | ' | -2,231 | ' | ' | -2,231 | ' | ' |
Issuance of Series A Convertible Preferred Stock | 0 | ' | ' | ' | ' | 0 | ' | ' |
Issuance of Series A Convertible Preferred Stock (in shares) | ' | ' | ' | ' | ' | ' | ' | 1,380 |
Preferred Stock Dividend | -47 | ' | -47 | ' | ' | -47 | ' | 47 |
Preferred Stock Dividend (in shares) | ' | ' | ' | ' | ' | ' | ' | 15 |
Issuance of Common Stock, net of issuance costs of $48 | 1,316 | ' | 1,316 | ' | ' | 1,316 | ' | ' |
Issuance of Common stock, net of issuance costs of $48 (in shares) | ' | 453 | ' | ' | ' | ' | ' | ' |
Acquisition of subsidiary shares from non-controlling interest | -51 | ' | 8,018 | -3,762 | ' | 4,256 | -4,307 | ' |
Acquisition of subsidiary shares from non-controlling interest (in shares) | ' | 93 | ' | ' | ' | ' | ' | ' |
Medicsight Ltd Liquidation | 0 | ' | -8,319 | 8,319 | ' | 0 | ' | ' |
Stock-based compensation (Stock awards) | 721 | 1 | 720 | ' | ' | 721 | ' | ' |
Stock-based compensation (Stock awards) (in shares) | ' | 425 | ' | ' | ' | ' | ' | ' |
Stock-based compensation (Stock options) | 32 | ' | 17 | ' | ' | 17 | 15 | ' |
Net loss for the year | -4,725 | ' | ' | ' | -3,604 | -3,604 | -1,121 | ' |
Translation adjustment | 49 | ' | ' | 23 | ' | 23 | 26 | ' |
Balance at Dec. 31, 2012 | -143 | 3 | 282,998 | -281 | -283,631 | -911 | 768 | 47 |
Balance (in shares) at Dec. 31, 2012 | ' | 3,251 | ' | ' | ' | ' | ' | 1,395 |
Stock issued for services | 1,709 | ' | 1,709 | ' | ' | 1,709 | ' | ' |
Stock issued for services (in shares) | ' | 427 | ' | ' | ' | ' | ' | ' |
Non-controlling share of MGT Gaming, Inc. | 191 | ' | ' | ' | ' | ' | ' | ' |
Warrant - Deemed Dividend (in excess of proceeds received) | 0 | ' | ' | ' | ' | ' | ' | ' |
Preferred Stock Dividend | -70 | ' | ' | ' | ' | ' | ' | ' |
Reclassification of derivative liability - Series A Preferred Warrants into equity | 8,206 | ' | 8,206 | ' | ' | 8,206 | ' | ' |
Reclassification of derivative liability - J&S Warrants into equity | 1,164 | ' | 1,164 | ' | ' | 1,164 | ' | ' |
Quarterly dividend on Series A Preferred Stock | -67 | ' | -67 | ' | ' | -67 | ' | 69 |
Quarterly dividend on Series A Preferred Stock (in shares) | ' | ' | ' | ' | ' | ' | ' | 21 |
Conversion of Series A Preferred Stock to Common Stock | 120 | 4 | 116 | ' | ' | 120 | ' | -116 |
Conversion of Series A Preferred Stock to Common Stock (in shares) | ' | 1,407 | ' | ' | ' | ' | ' | -1,407 |
Proceeds from the exercise of $3.85 warrants | 440 | ' | 440 | ' | ' | 440 | ' | ' |
Proceeds from the exercise of $3.85 warrants (in shares) | ' | 237 | ' | ' | ' | ' | ' | ' |
Proceeds from the exercise of $3.00 warrants | 2,757 | ' | 2,757 | ' | ' | 2,757 | ' | ' |
Proceeds from the exercise of $3.00 warrants (in shares) | ' | 716 | ' | ' | ' | ' | ' | ' |
Stock issued for acquisition - Digital Angel | 202 | ' | 202 | ' | ' | 202 | ' | ' |
Stock issued for acquisition - Digital Angel (in shares) | ' | 50 | ' | ' | ' | ' | ' | ' |
Stock issued for acquisition - FanTD | 4,900 | ' | 3,018 | ' | ' | 3,018 | 1,882 | ' |
Stock issued for acquisition - FanTD (in shares) | ' | 600 | ' | ' | ' | ' | ' | ' |
Exchange of warrants | 0 | 1 | -1 | ' | ' | 0 | ' | ' |
Exchange of warrants (in shares) | ' | 895 | ' | ' | ' | ' | ' | ' |
Stock issued in relation to modification of Series A Preferred Warrants | 598 | 0 | 598 | ' | ' | 598 | ' | ' |
Stock issued in relation to modification of Series A Preferred Warrants (in shares) | ' | 162 | ' | ' | ' | ' | ' | ' |
Proceeds from the exercise of Series A Preferred Warrants | 838 | ' | 838 | ' | ' | 838 | ' | ' |
Proceeds from the exercise of Series A Preferred Warrants (in shares) | ' | 613 | ' | ' | ' | ' | ' | ' |
Investment in MGT Interactive | 191 | ' | ' | ' | ' | 0 | 191 | ' |
Stock issued for acquisition - Avcom | 1,552 | 1 | 1,551 | ' | ' | 1,552 | ' | ' |
Stock issued for acquisition - Avcom (in shares) | ' | 491 | ' | ' | ' | ' | ' | ' |
Stock-based compensation | 1,357 | ' | 1,357 | ' | ' | 1,357 | ' | ' |
Net loss for the year | -10,936 | ' | ' | ' | -10,202 | -10,202 | -734 | ' |
Translation adjustment | 0 | ' | ' | ' | ' | ' | ' | ' |
Balance at Dec. 31, 2013 | $12,888 | $9 | $304,886 | ($281) | ($293,833) | $10,781 | $2,107 | $0 |
Balance (in shares) at Dec. 31, 2013 | ' | 8,849 | ' | ' | ' | ' | ' | 9 |
REDEEMABLE_PREFERRED_STOCK_AND1
REDEEMABLE PREFERRED STOCK AND STOCKHOLDERS' (DEFICIT)/EQUITY [Parenthetical] (USD $) | 12 Months Ended | |
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Convertible note, issuance costs | ' | $100 |
Issuance of common stock, issuance costs | ' | 48 |
Exercise Of Warrants Price Per Share One | $3.85 | ' |
Exercise Of Warrants Price Per Share Two | $3 | ' |
Cash Received Upon Discounted Transfer | $100 | ' |
CONSOLIDATED_STATEMENTS_OF_CAS
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Cash flows from operating activities: | ' | ' |
Net loss | ($10,936) | ($4,725) |
Adjustments to reconcile net loss to net cash used in operating activities: | ' | ' |
Depreciation | 31 | 28 |
Amortization of intangible assets | 368 | 118 |
Stock-based expense | 2,965 | 753 |
Modification of Preferred Series A warrants | 598 | 0 |
Change in fair value of warrants | 2,204 | -557 |
Gain on sale of patents | -750 | 0 |
Warrant expense | 0 | 141 |
Accretion of convertible note discount | 0 | 199 |
Amortization of deferred financing costs | 0 | 125 |
Loss on extinguishment of convertible note | 0 | 338 |
Write-off of obsolete inventory | 0 | 56 |
Loss on disposal of property and equipment | 0 | 2 |
Change in operating assets and liabilities: | ' | ' |
Accounts receivable | -34 | 75 |
Prepaid expenses and other current assets | 268 | -13 |
Inventory | 0 | 36 |
Restricted cash | 0 | -39 |
Proceeds from release of security deposits | 0 | 201 |
Accounts payable | -14 | 29 |
Accrued expenses | -222 | -230 |
Other payables | 464 | -4 |
Net cash used in operating activities | -5,058 | -3,467 |
Cash flows from investing activities: | ' | ' |
Purchase of property and equipment | -12 | -17 |
Release of restricted cash | 1,899 | 0 |
Receipts from sale of intangible assets | 6 | 0 |
Cash received from purchase of Avcom, net of cash paid | 9 | 0 |
Purchase of intangible assets | -90 | 0 |
Net cash provided by / (used in) investing activities | 2,222 | -250 |
Cash flows from financing activities: | ' | ' |
Proceeds from exercise of warrants | 3,197 | 0 |
Proceeds from issuance of common stock - Century | 100 | 0 |
Repayment of loan - related party | -100 | 0 |
Cash paid in lieu of fractional shares in reverse/forward split | 0 | -5 |
Proceeds from issuance of convertible note | 0 | 3,500 |
Payments for convertible note issuance costs | 0 | -372 |
Repayment of convertible note | 0 | -3,500 |
Proceeds from issuance of preferred stock | 0 | 4,500 |
Proceeds from issuance of common stock, net | 0 | 1,316 |
Restricted cash | 0 | -2,000 |
Net cash provided by financing activities | 4,035 | 3,439 |
Effects of exchange rates on cash and cash equivalents | 0 | 17 |
Net change in cash and cash equivalents | 1,199 | -261 |
Cash and cash equivalents, beginning of period | 3,443 | 3,704 |
Cash and cash equivalents, end of period | 4,642 | 3,443 |
Supplemental cash disclosures: | ' | ' |
Cash paid for interest | 0 | 93 |
Supplemental disclosures of non-cash investing and financing activities: | ' | ' |
Stock issued for services in connection with issuance of convertible note | 0 | 315 |
Stock issued for services in connection with extinguishment of convertible note | 0 | 415 |
Warrants issued in connection with acquisition of intangible assets | 0 | 851 |
Warrants issued in connection with issuance of convertible note | 0 | 500 |
Beneficial conversion on convertible note | 0 | 500 |
Beneficial conversion on extinguishment of convertible note | 0 | 1,341 |
Intangible asset contributed by non-controlling interest | 191 | 862 |
Stock issued for purchase of Medicsight Ltd ordinary shares | 0 | 418 |
Dividends issued on Convertible Preferred Series A Stock | 70 | 47 |
Warrant - Deemed Dividend (in excess of proceeds received) | 0 | 2,231 |
Conversion of Series A Preferred to Common Stock | -116 | 0 |
Series A Convertible Preferred Stock, dividends paid in kind | 69 | 0 |
Stock issued for exercise of warrants | 440 | 0 |
Assets acquired and liabilities assumed through purchase | ' | ' |
Goodwill | 6,444 | 0 |
Patents [Member] | ' | ' |
Cash flows from investing activities: | ' | ' |
Receipts from sale of intangible assets | 750 | 0 |
Fantasy Sports [Member] | ' | ' |
Cash flows from investing activities: | ' | ' |
Purchase of intangible assets | -30 | 0 |
Daily Joust [Member] | ' | ' |
Cash flows from investing activities: | ' | ' |
Purchase of intangible assets | -50 | 0 |
Digital Angel [Member] | ' | ' |
Cash flows from investing activities: | ' | ' |
Purchase of intangible assets | -136 | 0 |
Supplemental disclosures of non-cash investing and financing activities: | ' | ' |
Stock issued for acquisition | 202 | 0 |
Mgt Gaming [Member] | ' | ' |
Cash flows from investing activities: | ' | ' |
Purchase of intangible assets | 0 | -200 |
Cash flows from financing activities: | ' | ' |
Cash and cash equivalents, beginning of period | 0 | ' |
Cash and cash equivalents, end of period | 338 | 0 |
Assets acquired and liabilities assumed through purchase | ' | ' |
Goodwill | 6,444 | 0 |
Medicsights Ltd [Member] | ' | ' |
Adjustments to reconcile net loss to net cash used in operating activities: | ' | ' |
Stock-based expense | ' | 32 |
Cash flows from investing activities: | ' | ' |
Repurchase of Medicsight's shares | 0 | -33 |
FanTD LLC [Member] | ' | ' |
Cash flows from investing activities: | ' | ' |
Cash paid for purchase of FanTD, net of cash acquired | -124 | 0 |
Supplemental disclosures of non-cash investing and financing activities: | ' | ' |
Stock issued for acquisition | 3,018 | 0 |
Assets acquired and liabilities assumed through purchase | ' | ' |
Prepaid expenses and other current assets | 31 | 0 |
Security deposit | 2 | 0 |
Property and equipment | 32 | 0 |
Intangible assets | 631 | 0 |
Goodwill | 4,948 | 0 |
Other payables | -126 | 0 |
Loan payable - related party | -100 | 0 |
Avcom [Member] | ' | ' |
Supplemental disclosures of non-cash investing and financing activities: | ' | ' |
Stock issued for acquisition | 1,552 | 0 |
Assets acquired and liabilities assumed through purchase | ' | ' |
Prepaid expenses and other current assets | 29 | 0 |
Property and equipment | 7 | 0 |
Intangible assets | 65 | 0 |
Goodwill | 1,496 | 0 |
Accrued expenses | -44 | 0 |
Other payables | -10 | 0 |
Preferred Series A Warrants [Member] | ' | ' |
Cash flows from financing activities: | ' | ' |
Proceeds from exercise of warrants | 838 | 0 |
Supplemental disclosures of non-cash investing and financing activities: | ' | ' |
Reclassification of derivative liability | 8,206 | 0 |
JS Warrants [Member] | ' | ' |
Supplemental disclosures of non-cash investing and financing activities: | ' | ' |
Reclassification of derivative liability | 1,164 | 0 |
Series A Warrants [Member] | ' | ' |
Supplemental disclosures of non-cash investing and financing activities: | ' | ' |
Stock issued for exercise of warrants | $2,757 | $0 |
Organization_basis_of_presenta
Organization, basis of presentation and liquidity | 12 Months Ended |
Dec. 31, 2013 | |
Organization, Consolidation and Presentation Of Financial Statements [Abstract] | ' |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | ' |
Note 1. Organization, basis of presentation and liquidity | |
Organization | |
MGT Capital Investments, Inc. (“MGT,” “the Company,” “we,” “us”) is a Delaware corporation, incorporated in 2000. The Company was originally incorporated in Utah in 1977. MGT is comprised of the parent company, majority–owned subsidiary MGT Gaming, Inc. (“MGT Gaming”) and wholly–owned subsidiaries Medicsight, Inc. (“Medicsight”), MGT Studios, Inc. (f/k/a MGT Capital Solutions, Inc.) (“MGT Studios”) including its wholly–owned subsidiary Avcom, Inc. and its majority owned subsidiary M2P Americas, Inc., and MGT Sports, Inc. (“MGT Sports”) including its majority owned subsidiary FanTD LLC, (“FanTD”). Our Corporate office is located in Harrison, New York. | |
MGT and its subsidiaries are primarily engaged in the business of acquiring, developing and monetizing assets in the casino, online and mobile gaming space, as well as the casino industry. | |
MGT Gaming owns U.S. Patents 7,892,088 and 8,500,54 (the “’088 and ‘554 patents,” respectively), both entitled "Gaming Device Having a Second Separate Bonusing Event and both relating to casino gaming systems in which a second game played on an interactive sign is triggered once specific events occur in a first game. On November 2, 2012, MGT Gaming filed a lawsuit (No. 3:12–cv–741) in the United States District Court for the Southern District of Mississippi alleging patent infringement. The lawsuit alleges the defendants Caesars Entertainment Corporation (NASDAQ GS: CZR), MGM Resorts International, Inc. (NYSE: MGM), WMS Gaming, Inc. – a subsidiary of WMS Industries, Inc. (NYSE: WMS), Penn National Gaming, Inc. (NASDAQ GS: PENN), and Aruze Gaming America, Inc. either manufacture, sell or lease gaming systems in violation of MGT Gaming's patent rights, or operate casinos that offer gaming systems in violation of MGT Gaming's ‘088 patent. | |
As of March 31, 2014 the Company is still pursuing its patent-infringement case and awaiting a Markman Hearing (also known as a claims construction hearing) which is set for September 25, 2014 in Jackson, Mississippi before the Honorable District Judge Carlton W. Reeves for all three severed cases. | |
Liquidity | |
The Company has incurred significant operating losses since inception and continues to generate losses from operations. As a result, the Company has generated negative cash flows from operations and has an accumulated deficit of $293,833 at December 31, 2013. The Company is operating in a developing industry based on new technology and its primary source of funds to date has been through issuances of securities. While the Company is optimistic and believes appropriate actions are being taken, there can be no assurance that the products or patent monetization strategy will be successful. Furthermore, it is contemplated that any acquisitions may require the Company to raise capital; such capital may not be available on terms acceptable to the Company, if at all. | |
On December 30, 2013, and as amended on March 27, 2014, the Company entered into an At the Market Offering Agreement (the “Agreement”) with Ascendiant Capital Markets, LLC (the “Manager”). | |
Pursuant to the Agreement, the Company may offer and sell shares of its Common Stock (the “Shares”) having an aggregate offering price of up to $8.5 million from time to time through the Manager. The Shares sold in the offering will be issued pursuant to the Company’s effective shelf registration statement on Form S–3 (File No. 333–182298) previously filed with the Securities and Exchange Commission (the “SEC”) in accordance with the provisions of the Securities Act of 1933, as amended (the “Securities Act”), as supplemented by a prospectus supplement dated December 30, 2013 for the sale of up to $8.5 million of Shares, which the Company filed with the SEC pursuant to Rule 424(b)(5) under the Securities Act. | |
The Manager is not required to sell any specific number or dollar amount of Shares but will use its commercially reasonable efforts, as the Company's agent and subject to the terms of the Agreement, to sell the Shares offered, as instructed by the Company. Such instructions will include notice as to the maximum amount of shares of the Company’s Common Stock to be sold by the Manager on a daily basis and the minimum price per share at which such shares may be sold. | |
The Agreement provides that the Company will pay the Manager a fee of 3.0% of the gross sales price of any Shares sold through the Manager. The Agreement contains customary representations, warranties and agreements of the Company and the Manager and customary conditions to completing future sale transactions, indemnification rights and obligations of the parties and termination provisions. | |
The Company intends to use the net proceeds from any sales of Shares in the offering for working capital, capital expenditures, and general business purposes. The Company's management will have significant flexibility in applying the net proceeds of this offering. | |
At December 31, 2013, MGT’s cash, cash equivalents and restricted cash were $4,782, including $6 held in MGT Gaming, $271 held in FanTD Company’s portfolio of medical imaging patents. | |
Management believes that the current level of working capital along with the At the Market Offering Agreement, will be sufficient to allow the Company to maintain its operations until at least January 2015. | |
The Fanthrowdown website offers daily Fantasy Sports contests and charges entry fees to play. Occasionally, as an incentive for user activity some contests may pay out higher prize money than the charged entry fees, the expense is recognized as overlay and included in cost of revenues. Management expects these costs to decrease substantially as the site builds its user base and increases liquidity. | |
Summary_of_significant_account
Summary of significant accounting policies | 12 Months Ended | ||
Dec. 31, 2013 | |||
Accounting Policies [Abstract] | ' | ||
Significant Accounting Policies [Text Block] | ' | ||
Note 2. Summary of significant accounting policies | |||
Basis of presentation | |||
Prior to the change in functional currency effective June 30, 2012, all foreign currency translation gains and losses arising on consolidation were recorded in stockholders’ equity as a component of accumulated other comprehensive income / (loss). Non–controlling interest represents the minority equity investment in any of the MGT subsidiaries, plus the minorities’ share of the net operating result and other components of equity relating to the non–controlling interest. | |||
Use of estimates and assumptions and critical accounting estimates and assumptions | |||
The preparation of financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date(s) of the financial statements and the reported amounts of revenues and expenses during the reporting period(s). | |||
Critical accounting estimates are estimates for which (a) the nature of the estimate is material due to the levels of subjectivity and judgment necessary to account for highly uncertain matters or the susceptibility of such matters to change and (b) the impact of the estimate on financial condition or operating performance is material. The Company’s critical accounting estimates and assumptions affecting the financial statements were: | |||
-1 | Allowance for doubtful accounts: Management’s estimate of the allowance for doubtful accounts is based on historical sales, historical loss levels, and an analysis of the collectability of individual accounts; and general economic conditions that may affect a client’s ability to pay. The Company evaluated the key factors and assumptions used to develop the allowance in determining that it is reasonable in relation to the financial statements taken as a whole. | ||
-2 | Fair value of long–lived assets: Fair value is generally determined using the asset’s expected future discounted cash flows or market value, if readily determinable. If long–lived assets are determined to be recoverable, but the newly determined remaining estimated useful lives are shorter than originally estimated, the net book values of the long–lived assets are depreciated over the newly determined remaining estimated useful lives. The Company considers the following to be some examples of important indicators that may trigger an impairment review: (i) significant under–performance or losses of assets relative to expected historical or projected future operating results; (ii) significant changes in the manner or use of assets or in the Company’s overall strategy with respect to the manner or use of the acquired assets or changes in the Company’s overall business strategy; (iii) significant negative industry or economic trends; (iv) increased competitive pressures; (v) a significant decline in the Company’s stock price for a sustained period of time; and (vi) regulatory changes. The Company evaluates acquired assets for potential impairment indicators at least annually and more frequently upon the occurrence of such events. | ||
-3 | Valuation allowance for deferred tax assets: Management assumes that the realization of the Company’s net deferred tax assets resulting from its net operating loss (“NOL”) carry–forwards for Federal income tax purposes that may be offset against future taxable income was not considered more likely than not and accordingly, the potential tax benefits of the net loss carry–forwards are offset by a full valuation allowance. Management made this assumption based on (a) the Company has incurred recurring losses, (b) general economic conditions, and (c) its ability to raise additional funds to support its daily operations by way of a public or private offering, among other factors. | ||
-4 | Estimates and assumptions used in valuation of equity instruments: Management estimates expected term of share options and similar instruments, expected volatility of the Company’s common shares and the method used to estimate it, expected annual rate of quarterly dividends, and risk free rate(s) to value share options and similar instruments. | ||
These significant accounting estimates or assumptions bear the risk of change due to the fact that there are uncertainties attached to these estimates or assumptions, and certain estimates or assumptions are difficult to measure or value. | |||
Management bases its estimates on historical experience and on various assumptions that are believed to be reasonable in relation to the financial statements taken as a whole under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. | |||
Management regularly evaluates the key factors and assumptions used to develop the estimates utilizing currently available information, changes in facts and circumstances, historical experience and reasonable assumptions. After such evaluations, if deemed appropriate, those estimates are adjusted accordingly. Actual results could differ from those estimates. | |||
Principles of consolidation | |||
All intercompany transactions and balances have been eliminated. Non–controlling interest represents the minority equity investment in MGT subsidiaries, plus the minority investors’ share of the net operating results and other components of equity relating to the non–controlling interest. | |||
Software developed for internal use | |||
The Company follows ASC 350–40 “Intangibles–Internal Use Software” on accounting for the costs of computer software developed or obtained for internal use. Costs incurred during the preliminary stage are expensed as incurred by the Company. Certain qualifying costs incurred during the application development stage are capitalized as property, equipment and software by the Company. The Company begins capitalization when the preliminary project stage is complete and it is probable that the project will be completed and the software will be used to perform the function intended. | |||
Cash, cash equivalents and restricted cash | |||
The Company considers investments with original maturities of three months or less to be cash equivalents. Restricted cash primarily represents cash not available for immediate and general use by the Company. | |||
We invest our cash in short–term deposits with major banks. As of December 31, 2012, we held $3,443 of cash and cash equivalents. Cash and cash equivalents consist of cash and temporary investments with original maturities of 90 days or less when purchased. | |||
As of December 31, 2013, our cash balance was $4,642. Of the total cash balance, $3,590 is covered under the US Federal Depository Insurance Corporation. | |||
A of December 31, 2012 our restricted cash was $2,039, consisting of $2,000 restricted under Convertible Preferred Series A Stock Agreement (Note 9) and $39 relating to a rental deposit for our Harrison Office. As of December 31, 2013 restricted cash was $140, which included $99 held in escrow relating to the sale of the Company’s portfolio of medical imaging patents pending reclaim of foreign withholding tax. Proceeds from the patent sale were placed into escrow prior to receipt by the Company pursuant to an escrow agreement between the Company and Munich Innovations GmbH (Note 4). The escrow agent distributed the escrow deposit in accordance with and subject to any deductions specified in the patent sale agreement. The remaining $39 of restricted cash supports a letter of credit, in lieu of a rental deposit, for our Harrison, NY office lease and $2 relates to security deposit for our Saratoga, NY office lease. | |||
With fewer than 345,012 shares of Preferred Stock outstanding, $2,000 was released out of restricted cash as the Company is no longer subject to the Cash Maintenance provision of the Purchase Agreement under which the Preferred Stock was originally sold in October 2012 (Note 9). | |||
Property and equipment | |||
Property and equipment are stated at cost less accumulated depreciation. Depreciation is calculated using the straight–line method on the various asset classes over their estimated useful lives, which range from two to five years. | |||
Intangible assets | |||
Estimates of future cash flows and timing of events for evaluating long–lived assets for impairment are based upon management’s judgment. If any of our intangible or long–lived assets are considered to be impaired, the amount of impairment to be recognized is the excess of the carrying amount of the assets over its fair value. Applicable long–lived assets are amortized or depreciated over the shorter of their estimated useful lives, the estimated period that the assets will generate revenue, or the statutory or contractual term in the case of patents. Estimates of useful lives and periods of expected revenue generation are reviewed periodically for appropriateness and are based upon management’s judgment. | |||
Goodwill | |||
Goodwill represents the excess of the purchase price over the fair value of the assets acquired and liabilities assumed. The Company is required to perform impairment reviews at each of its reporting units annually and more frequently in certain circumstances. | |||
In accordance with ASC 350–20 “Goodwill” , the Company is able to make a qualitative assessment of whether it is more likely than not that a reporting unit’s fair value is less than its carrying amount before applying the two–step goodwill impairment test. If the Company concludes that it is more likely than not that the fair value of a reporting unit is not less than its carrying amount it is not required to perform the two–step impairment test for that reporting unit. | |||
Virtual currency liability related to Avcom | |||
Users of the Company’s website maintain virtual currency balances which are accumulated as users participate in the Company’s online games. The amounts may become payable in cash by the Company once the user’s virtual currency balance exceeds a certain minimum threshold; a virtual currency balance of $10.00 or $20.00 based upon initial date of enrollment on the site. User accounts expire after six months of inactivity. The Company records an accrual for potential virtual currency payouts at the end of each reporting period based on historical payout experience and current virtual currency balances. At December 31, 2013 the Company recorded a liability of $10 relating to potential future virtual currency payouts. | |||
Convertible instruments | |||
The Company evaluates and accounts for conversion options embedded in convertible instruments in accordance with ASC 815 “Derivatives and Hedging Activities” and ASC 470 “Debt”. Applicable GAAP requires companies to bifurcate conversion options from their host instruments and account for them as freestanding derivative financial instruments according to certain criteria. The criteria includes circumstances in which (a) the economic characteristics and risks of the embedded derivative instrument are not clearly and closely related to the economic characteristics and risks of the host contract, (b) the hybrid instrument that embodies both the embedded derivative instrument and the host contract is not re–measured at fair value under otherwise applicable generally accepted accounting principles with changes in fair value reported in earnings as they occur and (c) a separate instrument with the same terms as the embedded derivative instrument would be considered a derivative instrument. An exception to this rule, when the host instrument is deemed to be conventional as that term is described under applicable GAAP. | |||
Beneficial conversion features | |||
From time to time, the Company may issue convertible instruments that may have conversion prices that create an embedded beneficial conversion feature. A beneficial conversion feature exists on the date a convertible note is issued when the fair value of the underlying Common Stock to which the note is convertible into is in excess of the remaining unallocated proceeds of the note after first considering the allocation of a portion of the note proceeds to the fair value of any detachable equity instruments, if any related equity instruments were granted with the debt. The intrinsic value of the beneficial conversion feature is recorded as a discount with a corresponding amount to additional paid–in–capital. A discount to the convertible instrument is accreted to expense over the life of the instrument using the effective interest method. | |||
Revenue recognition | |||
The Company recognizes revenue when it is realized or realizable and earned. We consider revenue realized or realizable and earned when there is persuasive evidence of an arrangement and that the product has been shipped or the services have been provided to the customer, the sales price is fixed or determinable and collectability is probable. Our material revenue streams are related to the delivery of software license fees, maintenance services, hardware, consulting services and gaming fees. We enter into revenue arrangements that may consist of multiple deliverables of software and services due to the needs of our customers. In addition to these general revenue recognition criteria, the following specific revenue recognition policies are followed: | |||
Multiple–element arrangements — the Company enters into arrangements with visualization solution partners and original equipment manufacturers. For such arrangements, the Company recognizes revenue using the Multiple–Deliverable Revenue Arrangements. For our multiple–element arrangements, deliverables are separated into more than one unit of accounting when (i) the delivered element(s) have value to the customer on a stand–alone basis, and (ii) delivery of the undelivered element(s) is probable and substantially in our control. | |||
The revenue allocated to each deliverable will then be recorded in accordance with existing revenue recognition guidance for stand–alone component sales and services. | |||
⋅ | Software – License fee revenue is derived from the licensing of computer software. Maintenance revenue is derived from software maintenance. Our software licenses are generally sold as part of an arrangement that includes maintenance and support. | ||
The Company generally offers terms that require payment 30 – 45 days from invoicing. Provided that the Reseller: (i) assumes all risk of the purchase, (ii) has the ability and obligation to pay regardless of receiving payment from the end user, and (iii) all other revenue recognition criteria are met, license revenue from Resellers is recognized upon shipment of its product to vendors (“sell–in basis”). | |||
Revenue from license fees is recognized when notification of shipment to the end user has occurred, there are no significant Company obligations with regard to implementation and the Company’s services are not considered essential to the functionality of other elements of the arrangement. | |||
⋅ | Maintenance – Revenue from maintenance and support arrangements is deferred and recognized ratably over the term of the maintenance and support arrangements. | ||
⋅ | Hardware – Revenue is derived from sales of our automated carbon dioxide insufflation device. The device is sold and warrantied exclusively through our distribution partner Ultrasound Technologies, Ltd. with the Company receiving a royalty on each unit sold. Revenue is recognized as orders are satisfied and delivered by our supplier. | ||
⋅ | Services–consulting – Consulting revenue is earned over the period in which the Company provides the related services. The Company recognizes consulting revenue as it meets the terms of the underlying contract on the terms of the agreement. | ||
⋅ | Gaming fees – Revenue represents income earned as entry fees for a daily fantasy sports contest and is presented net of any bonus points applied by customers. Once a contest concludes, the Company recognizes the income earned as revenue. | ||
⋅ | Advertising – Revenue is earned with certain advertising service providers for advertisements within our games and revenue from these advertisers is generated through impressions, click–throughs, banner ads and offers. Revenue is recognized as advertisements are delivered, an executed contract exists, the price is fixed or determinable and collectability has been reasonably assured. Delivery generally occurs when the advertisement has been displayed or the offer has been completed by the user. | ||
The Company incurs costs in connection with the development of software products that are intended for sale. Costs incurred prior to technological feasibility being established for the product are expensed as incurred. Technological feasibility is established upon completion of a detail program design or, in its absence, completion of a working model. Thereafter, all software production costs are capitalized and subsequently reported at the lower of unamortized cost or net realizable value. Capitalized costs are amortized based on current and future revenue for each product with an annual minimum equal to the straight–line amortization over the remaining estimated economic life of the product. Amortization commences when the product is available for general release to customers. | |||
The Company concluded that capitalizing such expenditures on completion of a working model was inappropriate because the Company did not incur any material software production costs and therefore expenses were all research and development costs. Our research and development costs are comprised of staff, consultancy and other costs expensed on our products. | |||
Advertising costs | |||
The Company expenses advertising costs as incurred. During the years ended December 31, 2013 and 2012 respectively, the Company recognized $70 and $nil in advertising costs. | |||
Equity–based compensation | |||
The Company recognizes compensation expense for all equity–based payments in accordance with ASC 718 “Share-based payments”. Under fair value recognition provisions, the Company recognizes equity–based compensation net of an estimated forfeiture rate and recognizes compensation cost only for those shares expected to vest over the requisite service period of the award. | |||
Restricted stock awards are granted at the discretion of the Company. These awards are restricted as to the transfer of ownership and generally vest over the requisite service periods, typically over an eighteen month period (vesting on a straight–line basis). The fair value of a stock award is equal to the fair market value of a share of Company stock on the grant date | |||
The fair value of option award is estimated on the date of grant using the Black–Scholes option valuation model. The Black–Scholes option valuation model requires the development of assumptions that are input into the model. These assumptions are the expected stock volatility, the risk–free interest rate, the option’s expected life and the dividend yield on the underlying stock. Expected volatility is calculated based on the historical volatility of our Common Stock over the expected option life and other appropriate factors. Risk–free interest rates are calculated based on continuously compounded risk–free rates for the appropriate term. The dividend yield is assumed to be zero as the Company has never paid or declared any cash dividends on our Common Stock and does not intend to pay dividends on our Common Stock in the foreseeable future. The expected forfeiture rate is estimated based on historical experience. | |||
Determining the appropriate fair value model and calculating the fair value of equity–based payment awards requires the input of the subjective assumptions described above. The assumptions used in calculating the fair value of equity–based payment awards represent management’s best estimates, which involve inherent uncertainties and the application of management’s judgment. As a result, if factors change and the Company uses different assumptions, our equity–based compensation expense could be materially different in the future. In addition, the Company is required to estimate the expected forfeiture rate and recognize expense only for those shares expected to vest. If our actual forfeiture rate is materially different from our estimate, the equity–based compensation expense could be significantly different from what the Company has recorded in the current period. | |||
The Company accounts for share–based payments granted to non–employees in accordance with ASC 505, “Equity Based Payments to Non–Employees”. The Company determines the fair value of the stock–based payment as either the fair value of the consideration received or the fair value of the equity instruments issued, whichever is more reliably measurable. If the fair value of the equity instruments issued is used, it is measured using the stock price and other measurement assumptions as of the earlier of either (1) the date at which a commitment for performance by the counterparty to earn the equity instruments is reached, or (2) the date at which the counterparty’s performance is complete. | |||
Foreign currency translation | |||
Prior to June 30, 2012, the accounts of the Company were maintained using GBP as the functional currency. Assets and liabilities were translated into U.S. dollars at period–end exchange rates, and income and expense accounts were translated at average monthly exchange rates. Net gains and losses from foreign currency translations were excluded from operating results and were accumulated as a separate component of stockholders’ equity. Gains and losses on foreign currency transactions are reflected in selling, general and administrative expenses in the income statement. | |||
Effective June 30, 2012, in connection with the closing of the Medicsight UK office at quarter end June 2012, and the final transfer of all operations to the U.S., along with MGT’s proceeds from the sale of $3.5 million of convertible notes on June 1, 2012, the Company reassessed the functional currency designation and as a result of the aforementioned activities, determined to prospectively change the functional currency from the previous local currency, GBP to the U.S. dollar. Under ASC 830–10 “Foreign Currency Matters” when the functional currency changes from a foreign currency to the reporting currency, translation adjustments for prior periods shall remain in accumulated other comprehensive income/(loss) and the translated amounts for non–monetary assets at the end of the prior period become the accounting basis for those assets in the period of the change and the subsequent periods. | |||
Income taxes | |||
The Company applies the elements of ASC 740–10 “Income Taxes — Overall” regarding accounting for uncertainty in income taxes. This clarifies the accounting for uncertainty in income taxes recognized in financial statements and requires the impact of a tax position to be recognized in the financial statements if that position is more likely than not of being sustained by the taxing authority. As of December 31, 2013, the Company did not have any unrecognized tax benefits. The Company does not expect that the amount of unrecognized tax benefits will significantly increase or decrease within the next twelve months. The Company’s policy is to recognize interest and penalties related to tax matters in the income tax provision in the Consolidated Statements of Operations. There was no interest and penalties for the years ended December 31, 2013, and 2012. Tax years beginning in 2010 are generally subject to examination by taxing authorities, although net operating losses from all years are subject to examinations and adjustments for at least three years following the year in which the attributes are used. | |||
Deferred taxes are computed based on the tax liability or benefit in future years of the reversal of temporary differences in the recognition of income or deduction of expenses between financial and tax reporting purposes. The net difference, if any, between the provision for taxes and taxes currently payable is reflected in the balance sheet as deferred taxes. Deferred tax assets and/or liabilities, if any, are classified as current and non–current based on the classification of the related asset or liability for financial reporting purposes, or based on the expected reversal date for deferred taxes that are not related to an asset or liability. Valuation allowances are recorded to reduce deferred tax assets to that amount which is more likely than not to be realized. | |||
Our effective tax rate for fiscal year 2013, and 2012, was (0)% and (0)%, respectively. The difference in the Company’s effective tax rate from the Federal statutory rate is primarily due to a 100% valuation allowance provided for all deferred tax assets. | |||
Comprehensive income / (loss) | |||
Comprehensive income/(loss) includes net income/(loss) and items defined as other comprehensive income / (loss). Items defined as other comprehensive income/(loss), include foreign currency translation adjustments and are separately classified in the consolidated financial statements. Such items are reported in the Consolidated Statement of Operations and Comprehensive Loss | |||
Loss per share | |||
Basic loss per share is calculated by dividing net loss applicable to common shareholders by the weighted average number of common shares outstanding during the period. Diluted loss per share is calculated by dividing the net loss attributable to common shareholders by the sum of the weighted average number of common shares outstanding plus potential dilutive common shares outstanding during the period. Potential dilutive securities, comprised of the convertible Preferred Stock, unvested restricted shares and stock options, are not reflected in diluted net loss per share because such shares are anti–dilutive. | |||
The computation of diluted loss per share for the year ending December 31, 2013, excludes 9,413 shares in connection to the convertible Preferred Stock, 920,825 warrants and 52,677 unvested restricted shares, as they are anti–dilutive due to the Company’s net loss. For the year ending December 31, 2012, 1,394,766 common shares in connection to convertible Preferred Stock, 4,038,753 warrants and 314,669 unvested restricted shares, are excluded because they are anti–dilutive due to the Company’s loss. | |||
Segment reporting | |||
Operating segments are defined as components of an enterprise about which separate financial information is available that is evaluated regularly by the chief operating decision maker, or decision–making group in deciding how to allocate resources and in assessing performance. Our chief operating decision–making group is composed of the chief executive officer and chief financial officer. We operate in four operational segments, Medicsight Software/Devices, Medicsight Services, Gaming and Intellectual Property. MGT Gaming is now referred to as Intellectual Property. Gaming is a new segment for the current year. Certain corporate expenses are not allocated to segments. | |||
Recent accounting pronouncements | |||
There are no recent accounting pronouncements that are expected to have an effect on the Company’s financial statements. | |||
Asset_purchases_and_acquisitio
Asset purchases and acquisitions of businesses | 12 Months Ended | |||||||||||||
Dec. 31, 2013 | ||||||||||||||
Business Combinations [Abstract] | ' | |||||||||||||
Business Combination Disclosure [Text Block] | ' | |||||||||||||
Note 3. Asset purchases and acquisitions of businesses | ||||||||||||||
Digital Angel | ||||||||||||||
On May 2, 2013, the Company purchased certain mobile game application assets from Digital Angel Corporation. The purchase price consisted of a cash payment in the amount of $136 and 50,000 restricted shares of the Company’s Common Stock with an aggregate fair value of $202 as of the date this transaction was completed. The Company determined the acquisition constitutes a purchase of assets in accordance with the guidance of ASC 805 “Business Combinations”. | ||||||||||||||
The following table summarizes the Company’s allocation of the purchase price to the separable components of the mobile applications based on their relative fair values at the date the purchase was completed. | ||||||||||||||
Purchase price allocation: | ||||||||||||||
Software and hardware | $ | 28 | ||||||||||||
Trademark | 6 | |||||||||||||
Intangible assets – mobile gaming application | 305 | |||||||||||||
Net assets acquired | $ | 339 | ||||||||||||
FanTD | ||||||||||||||
On May 20, 2013, the Company acquired 63% of the outstanding membership interests of FanTD in exchange for an aggregate purchase of $3,220 consisting of 600,000 shares of MGT Common Stock at a fair value of $5.03 per share for a total of $3,018 and a cash payment of $202. The fair value of the 37% non–controlling interest retained by the sellers in this transaction amounted to $1,882. | ||||||||||||||
The Company recorded the purchase of FanTD using the acquisition method of accounting as specified in ASC 805 “Business Combinations.” This method of accounting requires the acquirer to (i) record purchase consideration issued to sellers in a business combination at fair value on the date control is obtained, (ii) determine the fair value of any non–controlling interest, and (iii) allocate the purchase consideration to all tangible and intangible assets acquired and liabilities assumed based on their acquisition date fair values. Further, the Company commenced reporting the results of FanTD on a consolidated basis with those of the Company effective upon the date of the acquisition. | ||||||||||||||
The following tables summarizes the preliminary fair values of the net liabilities assumed and the allocation of the aggregate fair value of the purchase consideration, non–controlling interest and net liabilities to assumed identifiable and unidentifiable intangible assets: | ||||||||||||||
Purchase consideration: | ||||||||||||||
Common Stock (600,000 shares at the transaction date fair value of $5.03 per share) | $ | 3,018 | ||||||||||||
Cash | 202 | |||||||||||||
Aggregate purchase consideration | 3,220 | |||||||||||||
Fair value of non–controlling interest | 1,882 | |||||||||||||
Aggregate fair value of enterprise | 5,102 | |||||||||||||
Purchase price allocation: | ||||||||||||||
Net liabilities assumed | -69 | |||||||||||||
Property and equipment | 4 | |||||||||||||
-65 | ||||||||||||||
Aggregate fair value of purchase consideration, non–controlling interest and net liabilities assumed allocated to intangible assets as follows: | ||||||||||||||
Developed software | 186 | |||||||||||||
Customer list | 33 | |||||||||||||
Goodwill | 4,948 | |||||||||||||
Total purchase price allocation | $ | 5,102 | ||||||||||||
Fantasy Sports Live | ||||||||||||||
On June 25, 2013, MGT Sports acquired Fantasy Sports Live, which was effectively a customer list associated with a specific gaming application for $30 in cash and the assumption of a $46 customer deposit liability. | ||||||||||||||
Daily Joust | ||||||||||||||
On July 23, 2013, MGT Sports acquired certain assets from Daily Joust, Inc. The purchase price consisted of a cash payment of $50 for $136 in customer deposits and assumption of a $136 customer liability. | ||||||||||||||
Real Deal Poker | ||||||||||||||
On September 3, 2013, the Company entered into a Contribution and Sale Agreement (the “Contribution Agreement”) by and among the Company, Gioia Systems, LLC (“Gioia”) and MGT Interactive whereby MGT Interactive acquired certain assets from Gioia, the inventor and owner of a proprietary method of card shuffling for the online poker market. Pursuant to the Contribution Agreement, Gioia contributed the assets to MGT Interactive in exchange for a 49% interest in MGT Interactive and MGT contributed $200 to MGT Interactive in exchange for a 51% interest in MGT Interactive. The $200 contributed by the Company will be utilized as working capital to cover the direct and associated costs relating to the achievement of a certification from Gaming Laboratories International (“GLI”). The Company has the right to acquire an additional 14% ownership interest in MGT Interactive from Gioia in exchange for a purchase price of $300 after GLI certification is obtained. Gioia, in turn, will have the right to re–acquire the 14% interest for a period of three years at a purchase price of $500. Gioia has the right to certain royalty payments from the gross rake payments, and any licensing or royalty income received by MGT Interactive. | ||||||||||||||
Simultaneously with the entry into the Contribution Agreement, the Company and Gioia entered into a Limited Liability Company Agreement which serves as the operating agreement for MGT Interactive, and a consulting agreement (the “Consulting Agreement”) with Gioia to provide services to the Company primarily related to obtaining GLI Certification. The Consulting Agreement terminates on the earlier of January 31, 2014 or the date on which GLI Certification is obtained. In the event that GLI Certification is obtained prior to January 31, 2013, the Consulting Agreement shall be extended for an additional year. Pursuant to the Consulting Agreement, Gioia will receive a monthly consulting fee of $10 of which $5 is paid in cash per month and $5 is deferred until GLI certification is obtained. The Company expensed $179 for Fiscal 2013. Testing concluded on January 29, 2014, and GLI reported random behavior suitable for the applications that were analyzed. The Company is discussing with GLI the final steps to certification. | ||||||||||||||
Avcom | ||||||||||||||
On November 26, 2013, the Company closed on an Agreement and Plan of Reorganization (the “Agreement”) with MGT Capital Solutions, Inc., a wholly owned subsidiary of the Company, Avcom, Inc. and the shareholders and option holders of Avcom, Inc. (“Avcom”). Pursuant to the Agreement, the Company acquired 100% of the capital stock of Avcom. In consideration, the Preferred Stockholders of Avcom received $550 in value of the Company’s Common Stock and the Common Stockholders and option holders of Avcom will receive an aggregate of $1,000 in value of the Company’s Common Stock. The value of the Company’s Common Stock is based on the closing price on signing the Agreement. | ||||||||||||||
One half of the issuance to the Avcom Common Stockholders and option holders was placed in escrow and will be released upon the later of (i) the commercial release of an agreed upon game or (ii) six (6) months after closing. In addition, the Common Stockholders may be awarded contingent consideration of $1.0 million through the issuance of up to 333,000 of the Company’s Common Stock in the event that the game reaches $3.0 million in gross revenues within 18 months of signing the Agreement. Although the Company is currently evaluating the accounting treatment of the Agreement, the Company believes that the acquisition will constitute a “Significant Acquisition” for accounting purposes. | ||||||||||||||
Prior to entering into the Agreement, Avcom had performed certain game development consulting services for the Company for which Avcom received an aggregate of $146 as consideration for such services. | ||||||||||||||
The Company recorded the purchase of Avcom using the acquisition method of accounting as specified in ASC 805 “Business Combinations.” This method of accounting requires the acquirer to (i) record purchase consideration issued to sellers in a business combination at fair value on the date control is obtained, (ii) determine the fair value of any non–controlling interest, and (iii) allocate the purchase consideration to all tangible and intangible assets acquired and liabilities assumed based on their acquisition date fair values. Further, the Company commenced reporting the results of Avcom on a consolidated basis with those of the Company effective upon the date of the acquisition. | ||||||||||||||
The following tables summarizes the preliminary fair values of the net liabilities assumed and the allocation of the aggregate fair value of the purchase consideration to assumed identifiable and unidentifiable intangible assets: | ||||||||||||||
Purchase consideration: | ||||||||||||||
Cash consideration | $ | 10 | ||||||||||||
Stock consideration (491,035 shares at $3.16 closing price) | 1,552 | |||||||||||||
Total purchase consideration | $ | 1,562 | ||||||||||||
Purchase price allocation: | ||||||||||||||
Current assets and liabilities | $ | -6 | ||||||||||||
Equipment | 7 | |||||||||||||
Intangible assets – Patent applications | 15 | |||||||||||||
Intangible assets – Website | 50 | |||||||||||||
Goodwill | 1,496 | |||||||||||||
Total purchase price allocation | $ | 1,562 | ||||||||||||
In connection with the Agreement, the Company entered into two executive employments agreements. Each executive agreement has a term of two years. Each executive will receive a deferred signing bonus equal to $75 and a base salary of $190 per year. The deferred signing bonus is payable once the Company generates cash revenues in excess of $200 from its product, SlotChamp, net of app store fees. | ||||||||||||||
Pro–forma results | ||||||||||||||
The following tables summarize, on an unaudited pro–forma basis, the results of operations of the Company as though the acquisitions of Avcom and FanTD had occurred as of January 1, 2013, and 2012. The pro–forma amounts give effect to appropriate adjustments of amortization of intangible assets and interest expense associated with the financing of the acquisition. The pro–forma amounts presented are not necessarily indicative of the actual results of operations had the acquisition transaction occurred as of January 1, 2013, and 2012. | ||||||||||||||
Year ended December 31, 2013 | MGT | FanTD | Avcom | Pro–forma | ||||||||||
total | ||||||||||||||
Revenues | $ | 396 | $ | 62 | $ | 110 | $ | 568 | ||||||
Net loss | -10,202 | -336 | 125 | -10,538 | ||||||||||
Loss per share of Common Stock | -1.84 | – | – | -1.82 | ||||||||||
Basic and diluted | 5,590,618 | – | – | 5,801,068 | ||||||||||
Year ended December 31, 2012 | ||||||||||||||
Revenues | $ | 409 | $ | 3 | $ | 214 | $ | 626 | ||||||
Net loss | -3,604 | -167 | -289 | -4,060 | ||||||||||
Loss per share of Common Stock | -2.62 | – | – | -1.45 | ||||||||||
Basic and diluted | 2,245,465 | – | – | 2,806,974 | ||||||||||
Goodwill_and_intangible_assets
Goodwill and intangible assets | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | ||||||||||||||||
Goodwill and Intangible Assets Disclosure [Text Block] | ' | ||||||||||||||||
Note 4. Goodwill and intangible assets | |||||||||||||||||
Goodwill represents the difference between purchase cost and the fair value of net assets acquired in business acquisitions. Indefinite lived intangible assets, representing trademarks and trade names, are not amortized unless their useful life is determined to be finite. Long–lived intangible assets are subject to amortization using the straight–line method. Goodwill and indefinite lived intangible assets are tested for impairment annually as of December 31, 2013, and more often if a triggering event occurs, by comparing the fair value of each reporting unit to its carrying value. The Company performed this impairment test and concluded that impairment did not exist as of December 31, 2013. | |||||||||||||||||
Goodwill | |||||||||||||||||
Balance, December 31, 2012 | $ | – | |||||||||||||||
Acquisitions (Note 3) | 6,444 | ||||||||||||||||
Balance, December 31, 2013 | $ | 6,444 | |||||||||||||||
Estimated | |||||||||||||||||
remaining | As of | As of | |||||||||||||||
useful | December 31, | December 31, | |||||||||||||||
life | 2013 | 2012 | |||||||||||||||
Intellectual property | 6 years | $ | 2,468 | $ | 1,913 | ||||||||||||
Software and website development | 2 years | 275 | – | ||||||||||||||
Customer lists | 4 years | 159 | – | ||||||||||||||
Trademarks | 3 years | 7 | – | ||||||||||||||
Less: Accumulated amortization | -486 | -118 | |||||||||||||||
Intangible assets, net | 2,423 | 1,795 | |||||||||||||||
The Company recorded an amortization expense of $368 (2012: $118). | |||||||||||||||||
Estimated future annual amortization expense as of: | |||||||||||||||||
Software and | |||||||||||||||||
Intellectual | website | ||||||||||||||||
property | development | Customer lists | Trademarks | Total | |||||||||||||
2014 | $ | 363 | $ | 83 | $ | 40 | $ | 3 | $ | 489 | |||||||
2015 | 363 | 83 | 40 | 3 | 489 | ||||||||||||
2016 | 363 | 52 | 40 | 1 | 456 | ||||||||||||
2017 | 363 | – | 17 | – | 380 | ||||||||||||
2018 | 363 | – | – | – | 363 | ||||||||||||
Thereafter | 246 | – | – | – | 246 | ||||||||||||
$ | 2,061 | $ | 218 | $ | 137 | $ | 7 | $ | 2,423 | ||||||||
MGT Gaming | |||||||||||||||||
On May 11, 2012, the Company entered into a Contribution and Sale Agreement (the “Sale Agreement”) with J&S Gaming, Inc. (“J&S”), and MGT Gaming for the acquisition of U.S. Patent #7,892,088, entitled “Gaming Device Having a Second Separate Bonusing Event” (“the Patent”). Pursuant to the Sale Agreement, (i) J&S sold certain patents to MGT Gaming in exchange for 1,000 shares (constituting 100% ownership) of MGT Gaming Common stock, par value $0.001; (ii) the Company purchased from J&S 550 MGT Gaming Shares constituting 55% ownership in exchange for $200 cash and a four (4) year warrant to purchase 350,000 shares of the Company’s Common stock at an exercise price of $4.00 per share, subject to certain anti–dilution provisions (the “Warrants”). The Patent was recorded at its estimated fair value of $1,913 at the date of closing. Due to certain anti–dilution provisions, the J&S Warrants was recorded as a liability, and consequently “marked–to–market” to the fair value at the end of each reporting period. On May 20, 2013, the Company modified the J&S Warrant granted to eliminate the anti–dilution provision therein. The Company paid J&S Gaming $25 in cash as consideration for the modification. | |||||||||||||||||
On May 20, 2013, the Company had 403,029 warrants outstanding with a fair value of $1,164 carried as a derivative liability. The modification agreement allowed the Company to reclassify the $1,164 from a derivative liability into shareholders’ equity. In Fiscal 2013 the Company recognized $363 of mark–to–market loss associated with this agreement. | |||||||||||||||||
Medicsight | |||||||||||||||||
On June 30, 2013, MGT closed the sale of its portfolio of medical imaging patents to Samsung Electronics Co, Ltd. (“Samsung”). The Company had no prior relationship with Samsung. Gross proceeds of $1,500 was reduced by a broker commission of $501 paid to Munich Innovation Group GmbH, foreign withholding tax of $248 and an escrow agent fee of $ 1 . The seller deposited $750 of proceeds into a restricted cash account upon the completion of the sale of which $651 was released to the Company on July 3, 2013. The remaining $99 is retained escrow pending reclaim of the foreign withholding tax. | |||||||||||||||||
Property_and_equipment
Property and equipment | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Property, Plant and Equipment [Abstract] | ' | |||||||
Property, Plant and Equipment Disclosure [Text Block] | ' | |||||||
Note 5. Property and equipment | ||||||||
Property and equipment consisted of the following: | ||||||||
December 31, | ||||||||
2013 | 2012 | |||||||
Computer hardware and software | $ | 152 | $ | 101 | ||||
Furniture and fixtures | 12 | 12 | ||||||
164 | 113 | |||||||
Less: Accumulated depreciation | -119 | -88 | ||||||
Total | $ | 45 | $ | 25 | ||||
The company recorded depreciation expense of $31 and $28 for the years ended December 31, 2013 and 2012, respectively. | ||||||||
Series_A_Convertible_Preferred
Series A Convertible Preferred Stock | 12 Months Ended |
Dec. 31, 2013 | |
Equity [Abstract] | ' |
Preferred Stock [Text Block] | ' |
Note 6. Series A Convertible Preferred Stock | |
On November 2, 2012, the Company closed a private placement sale of 1,380,362 shares of Series A Convertible Preferred Stock (“Preferred Stock”), (including 2,760,724 warrants to purchase MGT Common Stock) for an aggregate of $4.5 million. This transaction was approved by the Exchange on October 26, 2012. The Preferred Stock is convertible into the Company's Common Stock at a fixed price of $3.26 per share and carries a 6% dividend. The warrants have a five–year life and are exercisable at $3.85 per share. Total issuance cost for this private placement for the year ended December 31, 2012, was $88. | |
Significant terms of the Preferred Stock, as specified in the Certificate of Designation are as follows: | |
Cash maintenance | |
The Company shall maintain a cash balance of at least $2,000 as long as at least 345,092 shares of Preferred Stock remains outstanding. In February and March 2013, 241,748 and 30,000 shares of the Company’s Series A Convertible Preferred Stock were converted into 241,748 and 30,000 shares, of the Company’s Common Stock, respectively. In April 2013, 1,123,809 shares of the Preferred Stock were converted into 1,125,763 shares of the Company’s Common Stock, which included 1,954 shares of accrued interest on the Preferred Stock. As of December 31, 2013 and 2012, respectively, 9,413 and 1,380,362 shares of the Preferred Stock remained outstanding. | |
With fewer than 345,012 shares of Preferred Stock outstanding, the Company is no longer subject to the Cash Maintenance provision of the Purchase Agreement under which the Preferred Stock was originally sold in October 2012. | |
Conversion option | |
At any time and from time to time on or after the Effective Date, the Preferred Stock shall be convertible (in whole or in part), at the option of the Holder, into such number of fully paid and non–assessable shares of Common Stock as is determined by dividing (x) the aggregate Stated Value of $3.26 per shares (“Stated Value”) of Preferred Stock that are being converted plus any accrued but unpaid dividends thereon as of such date that the Holder elects to convert by (y) the Conversion Price ($3.26) then in effect on the date (the “Conversion Date”). | |
For the year ending December 31, 2013 1,406,747 of Preferred were converted into 1,406,747 shares of MGT Common Stock. For the year ending December 31, 2012, no share of Preferred were converted to MGT Common Stock. | |
Dividends | |
The Preferred Stock shall pay a six percent (6%) annual dividend on the outstanding Preferred Stock, payable quarterly on March 31, June 30, September 30 and December 31 of each year (the “Dividend Date”), with the first dividend payable for the period commencing on the Issuance Date. The Company has the option to pay each quarterly dividend in cash or additional shares of Preferred Stock (the "Dividend Shares"). | |
For the years ended December 31, 2013 and 2012, respectively, the Company issued 21,394 and 14,404 Dividend Shares, in connection with this Preferred Stock dividend. | |
Liquidation preference | |
Upon the liquidation, dissolution or winding up of the business of the Corporation, whether voluntary or involuntary, each holder of Preferred Stock shall be entitled to receive, for each share thereof, a preferential amount in cash equal to (and not more than) the Stated Value (the “Liquidation Amount”) plus all accrued and unpaid dividends. | |
The Preferred Stock Certificate of Designation and Warrant agreement (“Warrants”) each contain a fundamental transactions clause that provides for the conditional redemption of these instruments under certain circumstances that are not within the Company’s sole control. Management has therefore concluded that the Preferred Stock requires temporary equity classification in accordance with ASC 480–10–S99 “Accounting for Redeemable Equity Instruments” at its allocated value and the warrants require classification at fair value. When the Preferred Stock and Warrants were issued, the fair value of the Warrants exceeded the proceeds received from the sale and issuance of the Preferred Stock and Warrants. The Warrants were recorded at their fair value and the excess over the proceeds received was recorded as a deemed dividend. Changes in the fair value of the Warrants at each reporting date are included in the statement of operations. The carrying amount of the Preferred Shares requires no further adjustment unless and until the conditional redemption events are probable. The Company does not consider the conditional redemption events to be probable, as these events refer to fundamental change of control situations that do not currently exist, in the opinion of management. Accordingly, management concluded that the conversion option embedded in the preferred shares does not require bifurcation from the host contract, as the Preferred Stocks have the characteristics of a residual interest and therefore are clearly and closely related to the Common Stocks issuable upon the exercise of the conversion option. Further, since the issuance date fair value of the warrants exceeded the proceeds received from the sale and issuance of the Preferred Stock, accounting recognition of the beneficial conversion feature was not required. | |
The warrants were recorded at fair value as of October 29, 2012 of $6,731 based upon the following Black Scholes Model (“BSM”) to value warrants containing circumstances that are not within the Company’s sole control: risk free rate 0.760%; expected term five (5) years; annual volatility 75.0%; exercise price $3.85, adjusted market value of $3.98 per share. The adjusted market value was determined based on market conditions for our common shares, characterized by significant price volatility when compared to seasoned issuers. The Company expects that our share price will continue to be more volatile for the indefinite future. The volatility is attributable to a several factors, most notably the fact that our common shares are thinly traded. Share Price is one of the inputs needed to determine the fair value of derivative instruments, as used in the BSM. The Company feels that the share price volatility would distort a BSM calculation is based on a single day’s closing price, thereby dissuading us from utilizing the closing price on October 26, 2012. The Company has determined that a more representative measurement would be to utilize an average of the daily weighted average stock price of the Company’s Common Stock for the 30 days prior to the deal close. This calculation minimizes the impact of specific daily news or market trading distortions caused by an imbalance of orders on a single day. | |
On December 31, 2012, the warrants were re–measured at fair value of $6,364, based upon the following BSM inputs: risk free rate 0.760%; expected term five (5) years; annual volatility 75.0%; exercise price $3.85, closing stock price of $3.86. The Company recorded a gain of $365, caused by the change in fair value of its derivative liability from inception through December 31, 2012. | |
In connection with the sale of the Preferred Stock, the Company entered into a registration rights agreement with the investors agreeing to file a registration statement within 60 days of the closing and to have the registration statement declared effective within 150 days of the closing if the registration statement is not subject to a full review and within 180 days of the closing if the registration statement is subject to a full review. The Company filed a Registration Statement (Registrant No. 333–185284) with the SEC on November 30, 2012, which was declared effective on January 11, 2013. | |
On April 26, 2013, the Company made an offer to the holders of the Company’s $3.85 Common Stock Purchase Warrants issued on October 29, 2012 (the “Warrants”), providing if such holders exercised one Warrant, they would have the right to exchange up to two additional Warrants for 5/8ths per share of Common Stock per Warrant exchanged. The results of the offer were that holders of 715,742 Warrants elected to exercise their Warrants. The Warrants had a fair value of $1,680 carried as a derivative liability on the exercise date. The Warrants were fair valued based upon the following Black Scholes Model (“BSM”): risk free rate 0.68 % – 0.85 %; expected term five (4.44) years; annual volatility 75%; exercise price $3.85, market value of $3.90 – $4.27 per share. The exercise of the Warrants allowed the Company to reclassify $1,680 from derivative liability into shareholders’ equity. During the years ended December 31, 2013 and 2012, the Company recognized $30 and $557 mark–to–market loss associated to this agreement. | |
On May 20, 2013, the Company entered into Warrant Waiver Agreements with four holders of Warrants who collectively held more than 60 % of the Warrants, which per the original Warrants, triggers the modification of all Warrants in the series. The modification addresses the ability of warrant holders to redeem the Warrants for cash in a “Fundamental Transaction” as defined in the Warrant to provide that the Warrant holders do not have the right to redeem the Warrants for cash in any Fundamental Transaction that is not approved by the Company’s Board of Directors or that occurs in a transaction or as a result of an event that was not in the Company’s sole control. The modification changes the accounting treatment of the Warrants. The Company committed to issue an aggregate of 162,460 shares of its Common Stock in consideration for the modification. On September 27, 2013, at MGT’s Annual Meeting of Stockholders, stockholders approved a resolution for the issuance of up to 162,460 shares of Common Stock (the “Modification Shares”) in consideration for the modification of certain provisions contained in an aggregate of 2,044,982 warrants which modifications allowed the Company to treat such warrants as equity rather than as a derivative liability. The shares were subsequently issued on October 8, 2013. The stock was valued at $ 598 using the closing market price on September 27, 2013. On May 20, 2013, the Company had 2,044,982 warrants outstanding with a fair value of $6,525 carried as a derivative liability. The warrants were fair valued based upon the following Black Scholes Model (“BSM”): risk free rate 0.850 %; expected term five (4.44) years; annual volatility 75 %; exercise price $3.85, market value of $5.03 per share. The modification agreement allowed the Company to reclassify the $6,525 from derivative liability into shareholders’ equity. For the year ended December 31, 2013, the Company recognized $1,811 mark–to–market loss, respectively, associated with this agreement. | |
Common_Stock
Common Stock | 12 Months Ended |
Dec. 31, 2013 | |
Equity [Abstract] | ' |
Stockholders' Equity Note Disclosure [Text Block] | ' |
Note 7. Common Stock | |
On November 2, 2012, the Company closed a registered offering sale of 453,000 shares of MGT Common Stock for gross proceeds of $1,364. The Common Stock was sold at $3.01 per share with a total of 453,000 shares sold, under its S–3 Registration Statement (Registrant No. 333–182298), which was declared effective on September 25, 2012. Total issuance cost for this registered offering was $48. | |
All of the Investors represented that they were “accredited investors,” as that term is defined in Rule 501(a) of Regulation D under the Securities Act, and the sale of the securities was made in reliance on exemptions provided by Regulation D and Section 4(2) of the Securities Act of 1933, as amended. | |
Stock_incentive_plan_and_stock
Stock incentive plan and stock-based compensation | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Disclosure Of Compensation Related Costs, Share-Based Payments [Abstract] | ' | |||||||
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | ' | |||||||
Note 8. Stock incentive plan and stock–based compensation | ||||||||
Stock incentive plan | ||||||||
The Company’s board of directors established the 2012 Stock Incentive Plan (the “Plan”) on April 15, 2012, and the Company’s shareholders ratified the Plan at the annual meeting of the Company’s stockholders on May 30, 2012. The Company has 415,000 shares of Common Stock that are reserved to grant Options, Stock Awards and Performance Shares (collectively the “Awards”) to “Participants” under the Plan. The Plan is administered by the board of directors or the Compensation Committee of the board of directors, which determines the individuals to whom awards shall be granted as well as the type, terms and conditions of each award, the option price and the duration of each award. | ||||||||
At the annual meeting of the stockholders of MGT held on September 27, 2013, stockholders approved an amendment to the Plan (the “Amended and Restated Plan”) to increase the amount of shares of Common Stock that may be issued under the Amended and Restated Plan to 1,335,000 shares from 415,000 shares, an increase of 920,000 shares and to add a reload feature. | ||||||||
Options granted under the Plan vest as determined by the Company’s Compensation and Nominations Committee and expire over varying terms, but not more than seven years from date of grant. In the case of an Incentive Stock Option that is granted to a 10% shareholder on the date of grant, such Option shall not be exercisable after the expiration of five years from the date of grant. No option grants were issued during the years ended December 31, 2013 and 2012. | ||||||||
Issuance of restricted shares – directors, officers and employees | ||||||||
The Company in periods preceding January 1, 2013 made grants of restricted shares which vest one–third each six months from the date of issue, except for a specific grant made on December 26, 2012, which vests three and eight months from the date of grant subject to the attainment of certain performance conditions which were achieved in March 2013. The restricted shares are valued using the closing market price on the date of grant, of which the share–based compensation expense is recognized over their vesting period. The unvested shares are subject to forfeiture if the applicable recipient is not a director, officer and/or employee of the Company at the time the restricted shares are to vest. | ||||||||
On September 30, 2013, 6,000 restricted shares were granted and issued to a certain employee. The restricted shares vest one–third each six months from the date of issue. | ||||||||
A summary of the Company’s employee’s restricted stock as of December 31, 2013, is presented below: | ||||||||
Weighted | ||||||||
average grant | ||||||||
Number of | date fair | |||||||
shares | value | |||||||
Non–vested at December 31, 2012 | 314,667 | $ | 5.2 | |||||
Granted | 6,000 | 3.68 | ||||||
Vested | -264,000 | 4.56 | ||||||
Forfeited | -4,000 | 4.62 | ||||||
Non–vested at December 31, 2013 | 52,667 | $ | 4.56 | |||||
On January 8, 2014, January 16, 2014, and March 26, 2014, respectively, a total of 46,000 restricted shares were granted and issued to certain employees with an aggregate fair value of $91. The restricted shares vest one–third each six months from the date of issue. | ||||||||
The Company has recorded the following amounts related to its share–based compensation expense in the accompanying Consolidated Statements of Operations and Comprehensive Loss: | ||||||||
Year ended December 31, | ||||||||
2013 | 2012 | |||||||
Selling, general and administrative | $ | 1,357 | $ | 746 | ||||
Research and development | – | 7 | ||||||
$ | 1,357 | $ | 753 | |||||
Of the stock based–expense for the year ended December 31, 2013 and 2012, $nil and $15, respectively, was allocated to non–controlling interest. | ||||||||
Unrecognized compensation cost | ||||||||
As of December 31, 2013 and 2012, unrecognized compensation costs related to non–vested share–based compensation arrangements was $187 and $1,534, respectively. That cost is expected to be recognized over a weighted average period of 0.48 years. | ||||||||
Share–based compensation – non–employees | ||||||||
As a result of MGT’s acquisition of 63.12 % of FanTD LLC on May 20, 2013, the Company incurred $503 associated to the issuance of 100,000 shares of the Company’s Common Stock for a consulting and marketing agreement. These shares were issued on June 29, 2013. The stock was valued using the closing market price on the closing date of the acquisition. | ||||||||
On September 4, 2013, the Company issued 16,611 shares of the Company’s Common Stock for legal services rendered. The stock was valued at $72 using the closing market price on the date of issuance. | ||||||||
On August 16, 2013, the Company entered into a consulting agreement for investor relation services for a period of six months. In consideration for the services, the Company was paying $6 per month and 30,000 shares of the Company’s Common Stock. The Common Stock vested over a six month period. In accordance with ASC 505–50–S99 “Equity – Based Payments to Non–Employees”, the Company recognized the issuance over the vesting period. On November 27, 2013, the Company cancelled the agreement. For the year ended December 31, 2013, the Company issued 20,000 shares with a fair market value of $66 based on the closing market price for each of the vesting dates. | ||||||||
On November 12, 2013, the Company entered into a consulting agreement for investor relations media services for a period of three months. In consideration for the services, the Company was scheduled to pay $20 upon execution of the agreement and $25, 30 and 60 days subsequent to the date of the agreement; and 10,000 shares of the Company’s Common Stock upon execution of the agreement and 10,000 shares of the Company’s Common Stock 30 and 60 days from the date of the agreement, respectively. The Company expensed $57 associated to the issuance of 20,000 shares based on the closing market price on November 12, 2013 and December 12, 2013. The agreement was cancelled January 3, 2014. | ||||||||
In addition to the above, the Company also issued 270,000 shares of the Company’s Common Stock to non–employees (Note 11). The shares were valued at $1,011, the Company recorded $911 of expense and $100 of cash proceeds related to the issuance. | ||||||||
Medicsight Ltd equity plan | ||||||||
On March 26, 2012, at Medicsight Ltd’s General Meeting, stockholders approved a resolution to effect a Reverse Split of the Company’s existing ordinary shares of £0.05 par value per share into 1 new ordinary share of £16,250 par value per share and for MGT to acquire all New Ordinary Shares representing the fractions of shares left over following the Reverse Split. The exchange ratio for the Reverse Split was 1 for 325,000. As a result of the Reverse Split, stockholders holding fewer than 325,000 shares were cancelled and not entitled to a cash payment for fractional shares. | ||||||||
Following Medicsight’s general meeting on March 26, 2012, a shareholder resolution approving the Reverse Split of 1–for–325,000 of the Company’s existing ordinary shares of £0.05 par value into one new ordinary share was duly passed. As a result of the reverse split, option holders under certain existing share option plans are no longer entitled to options under those plans as option holders’ share entitlement is now less than one as a result of the Reverse Split. Following the share reversal, the Company cancelled with immediate effect all redundant option plans with the exception of Plan J. All previously unrecognized stock based compensation expense of $32 was accelerated during the year ended December 31, 2012. | ||||||||
On December 6, 2012, the Company initiated the process of dissolving the non–essential subsidiary of Medicsight Ltd. resulting in the cancellation of stock option Plan J. For the year ended December 31, 2013, there were no grants issued and all options were fully vested and expensed prior to the cancellation of stock option Plan J. | ||||||||
Warrants | ||||||||
The following table summarizes information about warrants outstanding at December 31, 2013: | ||||||||
Number | Weighted average | |||||||
of warrants | exercise price | |||||||
Warrants outstanding at December 31, 2012 | 4,038,753 | $ | 3.68 | |||||
Issued | – | – | ||||||
Exercised | -3,117,928 | 3.75 | ||||||
Expired | – | – | ||||||
Warrants outstanding at December 31, 2013 | 920,825 | $ | 3.44 | |||||
For the years ended December 31, 2013 and 2012, all issued warrants are exercisable and expire through 2017. There were no warrants issued for the year ended December 31, 2013. | ||||||||
During the year ended December 31, 2013, 357,204 of the Company’s $3.00 Common Stock Purchase Warrants were exercised. Of the warrant conversions, 210,529 were cashless and 146,675 were exercised for total proceeds of $440. As a result the Company issued an aggregate of 236,730 shares. | ||||||||
On April 26, 2013, the Company made an offer to the holders of the Company’s $3.85 Common Stock Purchase Warrants (the “Warrants”), providing if such holders exercised one Warrant, they would have the right to exchange up to two additional Warrants for 5/8ths per share of Common Stock per Warrant exchanged. The results of the offer were that holders of 715,742 Warrants elected to exercise their Warrants. Total proceeds received from the exercise of 715,742 Warrants were $2,757. | ||||||||
In addition, the allowed maximum of 1,431,486 Warrants were exchanged for 894,683 shares of the Company’s Common Stock, issuable upon shareholder and NYSE MKT exchange approval. On September 27, 2013, at MGT’s annual meeting of stockholders, stockholders approved the issuance of up to 894,683 shares of Common Stock in exchange for the cancellation of 1,431,486 warrants to purchase shares of Common Stock at $3.85 per share. The shares were subsequently issued on October 8, 2013. | ||||||||
On December 10, 2013, the Company entered into a Warrant Modification Agreement (the “Agreement”) with Iroquois Master Fund Ltd. (“Iroquois”). Pursuant to the Agreement, Iroquois agreed to immediately exercise its warrant to purchase 613,496 shares of Common Stock, par value $0.001 of the Company, at an exercise price of $1.50 per share, for aggregate gross proceeds to the Company of $920 and (ii) agreed to terminate its right of participation in future equity offerings of the Company. In exchange, the Company agreed to reduce the warrant exercise price from $3.85 per share to $1.50 per share, and agreed not to issue any securities at a price below $2.50 per share for a period of 90 days after the date of the Agreement (other than securities granted pursuant to a stock plan or issued in connection with an acquisition or issued pursuant to an agency agreement with a registered broker–dealer provided that we agree with the broker–dealer and publicly announce that we will not sell shares for a price below $2.50 per share). Iroquois acquired the warrant in connection with the Company's November 2012 financing. In connection with the Agreement, the Company paid to Chardan Capital Markets, LLC a placement fee for the solicitation of the exercise of the warrants equal to 8% of the gross proceeds raised, or approximately $73 and reimbursed Chardan for $9 of its legal fees, resulting in net proceeds of $838. | ||||||||
Noncontrolling_interest
Non-controlling interest | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Noncontrolling Interest [Abstract] | ' | ||||||||||||||||
Noncontrolling Interest Disclosure [Text Block] | ' | ||||||||||||||||
Note 9. Non–controlling interest | |||||||||||||||||
The Company has the following non–controlling interest: | |||||||||||||||||
MGT | FanTD | MGT | M2P | Total | |||||||||||||
Gaming | Interactive | Americas | |||||||||||||||
Non–controlling interest at January 1, 2013 | $ | 768 | $ | – | $ | – | $ | – | $ | 768 | |||||||
Purchase of FanTD | – | 1,882 | – | – | 1,882 | ||||||||||||
Investment in MGT Interactive | – | – | 191 | – | 191 | ||||||||||||
Non–controlling share of net losses | -183 | -451 | -95 | -5 | -734 | ||||||||||||
Non–controlling interest at December 31, 2013 | $ | 585 | $ | 1,431 | $ | 96 | $ | -5 | $ | 2,107 | |||||||
On January 2012, the Company had $5,293 of non-controlling interest relating to Medicsight Ltd. During the year ended December 31, 2012, the Company assigned $1,027 of net loss to the non-controlling interest of Medicsight and $41 of stock-based compensation and other other accumulated comprehensive income. The remaining $4,307 was reversed as a result of the acquisition of the remaining interest in Medicsight Ltd by the Company. | |||||||||||||||||
FanTD | |||||||||||||||||
On May 20, 2013, the Company acquired 63% of the outstanding membership interests of FanTD in exchange for an aggregate purchase of $3,220 consisting of 600,000 shares of MGT Common Stock at a fair value of $5.03 per share for a total of $3,018 and a cash payment of $202. The fair value of the 37% non–controlling interest retained by the sellers in this transaction amounted to $1,882. | |||||||||||||||||
MGT Interactive | |||||||||||||||||
On September 3, 2013, the Company entered into a Contribution and Sale Agreement (the “Contribution Agreement”) by and among the Company, Gioia Systems, LLC (“Gioia”) and MGT Interactive whereby MGT Interactive acquired certain assets from Gioia, the inventor and owner of a proprietary method of card shuffling for the online poker market. Pursuant to the Contribution Agreement, Gioia contributed the assets to MGT Interactive in exchange for a 49% interest in MGT Interactive and MGT contributed $200 to MGT Interactive in exchange for a 51% interest in MGT Interactive. | |||||||||||||||||
M2P Americas | |||||||||||||||||
On December 4, 2013, the Company entered into a Strategic Alliance Agreement with M2P Entertainment GmbH, a German corporation (“M2P”), the newly formed Delaware corporation, M2P Americas, Inc. (“M2P Americas”) and the Company’s ’s existing subsidiary MGT Studios, Inc. The purpose of the transaction is to allow M2P Americas to market and exploit MP2’s gaming technology in North and South America through M2P Americas. As part of the transaction, the Company acquired 50.1% of M2P Americas and M2P Entertainment acquired 49.9%. The Strategic Alliance Agreement provides that the Company and M2P will jointly cooperate to launch M2P’s gaming technology in North and South America. It further provides M2P Americas with an exclusive royalty free license to M2P’s gaming technology for North and South America. | |||||||||||||||||
Pursuant to the terms of the Strategic Alliance Agreement, the Company will advance certain expenses to M2P Americas and the Company and M2P will provide network and human resources support to M2P Americas. The parties also entered into a Stockholders Agreement dated the same date which, among other things, grants M2P an option to purchase 10% of the Company’s ownership in M2P Americas at book value if the Company does not purchase equity in M2P prior to April 2, 2014. | |||||||||||||||||
Any advances by the Company or its subsidiaries to M2P Americas will be considered a loan bearing interest at 4% per annum or the applicable federal rate if greater. The Strategic Alliance Agreement has a term of 20 years. | |||||||||||||||||
Medicsight Ltd | |||||||||||||||||
On March 26, 2012, at Medicsight Ltd’s General Meeting, stockholders approved a resolution to effect a Reverse Split of the Company’s existing ordinary shares of £0.05 par value per share into 1 new ordinary share of £16,250 par value per share and for MGT to acquire all New Ordinary Shares representing the fractions of shares left over following the Reverse Split. The exchange ratio for the Reverse Split was 1 for 325,000. As a result of the Reverse Split, stockholders holding fewer than 325,000 shares were cancelled and not entitled to a cash payment for fractional shares. As of March 26, 2012, MGT held 318 shares (66.5%) of the 478 issued share capital of Medicsight Ltd. | |||||||||||||||||
Subsequent to March 26, 2012, and through December 31, 2012, MGT acquired an additional 160 shares of Medicsight Ltd’s ordinary shares, 67 ordinary shares were acquired for cash consideration of $51 and 93 ordinary shares were acquired in exchange for 93,000 shares of the Company’s Common Stock with a fair value of $418. On December 6, 2012 at Medicsight Ltd’s General Meeting, the stockholders approved a resolution to effect a Reverse Split of Medicsight Ltd’s remaining shares at an exchange rate of 1 for 25. As a result, stockholders holding fewer than 25 shares at the time of the reversal received a cash payment of $16, in lieu of fractional shares and no longer had an interest in Medicsight Ltd. As a result of the purchase of additional shares and the reverse split, as of December 6, 2012, MGT held 100% of the issued share capital of Medicsight Ltd. | |||||||||||||||||
The Company filed an application to the Registrar of Companies under s1003 of the Companies Act 2006 for Medicsight Ltd’s dissolution. As a part of the dissolution of this non–essential subsidiary, Medicsight Ltd assigned its intellectual property to Medicsight, Inc. and its ownership in Medicsight, Inc. to MGT. | |||||||||||||||||
Segment_reporting
Segment reporting | 12 Months Ended | |||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||
Segment Reporting [Abstract] | ' | |||||||||||||||||||
Segment Reporting Disclosure [Text Block] | ' | |||||||||||||||||||
Note 10. Segment reporting | ||||||||||||||||||||
Operating segments are defined as components of an enterprise about which separate financial information is available that is evaluated regularly by the chief operating decision maker, or decision–making group in deciding how to allocate resources and in assessing performance. Our chief operating decision–making group is composed of the chief executive officer and chief financial officer. We operate in four operational segments, Medicsight Software/Devices, Medicsight Services, Gaming and Intellectual Property. MGT Gaming is now referred to as Intellectual Property. Gaming is a new segment for the current year. Certain corporate expenses are not allocated to segments. | ||||||||||||||||||||
The accounting policies of the segments are the same as those described in the summary of significant accounting policies (Note 2). We evaluate performance of our operating segments based on revenue and operating (loss). Segment information as of December 31, 2013, and December 31, 2012, are as follows: | ||||||||||||||||||||
Medicsight | ||||||||||||||||||||
Software/ | Services | Intellectual | Gaming | Unallocated | Total | |||||||||||||||
Devices | property | corporate/ | ||||||||||||||||||
other | ||||||||||||||||||||
Year ended December 31, 2013 | ||||||||||||||||||||
Revenues | $ | 78 | $ | 97 | $ | – | $ | 221 | $ | – | $ | 396 | ||||||||
Cost of revenue | – | -63 | – | -496 | – | -559 | ||||||||||||||
Gross margin | 78 | 34 | – | -275 | – | -163 | ||||||||||||||
Operating profit/(loss ) | 63 | 27 | -1,195 | -1,440 | -6,967 | -9,512 | ||||||||||||||
Year ended December 31, 2012 | ||||||||||||||||||||
Revenues | $ | 222 | $ | 187 | $ | – | $ | – | $ | – | $ | 409 | ||||||||
Cost of revenue | -92 | -173 | – | – | – | -265 | ||||||||||||||
Gross margin | 130 | 14 | – | – | – | 144 | ||||||||||||||
Operating loss | -1,755 | -11 | -208 | – | -2,516 | -4,490 | ||||||||||||||
31-Dec-13 | ||||||||||||||||||||
Cash and cash equivalents (excludes $140 of restricted cash) | $ | – | $ | – | $ | 6 | $ | 338 | $ | 4,298 | $ | 4,642 | ||||||||
Property and equipment | – | – | – | 28 | 17 | 45 | ||||||||||||||
Intangible assets | – | – | 2,007 | 416 | – | 2,423 | ||||||||||||||
Goodwill | – | – | – | 6,444 | – | 6,444 | ||||||||||||||
Additions: | ||||||||||||||||||||
Property and equipment | – | – | – | 42 | 9 | 51 | ||||||||||||||
Intangible assets | – | – | – | 1,002 | – | 1,002 | ||||||||||||||
Goodwill | – | – | – | 6,444 | – | 6,444 | ||||||||||||||
31-Dec-12 | ||||||||||||||||||||
Cash and cash equivalents (excludes $2,039 of restricted cash) | $ | 330 | $ | – | $ | 49 | $ | – | $ | 3,064 | $ | 3,443 | ||||||||
Property and equipment | – | – | – | – | 25 | 25 | ||||||||||||||
Intangible assets | – | – | 1,795 | – | – | 1,795 | ||||||||||||||
Goodwill | – | – | – | – | – | – | ||||||||||||||
Additions: | ||||||||||||||||||||
Property and equipment | – | – | – | – | 17 | 17 | ||||||||||||||
Intangible assets | – | – | 1,795 | – | – | 1,795 | ||||||||||||||
Goodwill | – | – | – | – | – | – | ||||||||||||||
Operating_leases_commitments_a
Operating leases, commitments and security deposits | 12 Months Ended | ||||
Dec. 31, 2013 | |||||
Operating Leases Commitments and Security Deposit [Abstract] | ' | ||||
Operating leases, commitments and security deposit [Text Block] | ' | ||||
Note 11. Operating leases, commitments and security deposits | |||||
Operating leases | |||||
In January 2012, the Company had a $13 monthly office lease payment. In February 2012, the Company moved to a smaller office in the same location with month–to–month rental payments of $4 and a rental deposit of $6. On April 30, 2012, we terminated our UK lease effective June 30, 2012. | |||||
In September 2011, the Company entered into a 39–month lease agreement for office space located in Harrison, New York, terminating on November 30, 2014. Under the agreement our total rental payments over the 39–month lease period are $240, inclusive of three months of free rent and a refundable rental deposit of $39, held in a restricted cash account. | |||||
In May 2013, the Company assumed a 24–month lease agreement for office space located in Saratoga Springs, New York terminating on October 31, 2014. Under the agreement our total rental payments over the lease period are $2, and a security deposit of $2. | |||||
In January 2014, the Company entered into a six–month lease agreement for temporary office space due to the Avcom acquisition located in New York, NY, terminating on June 30, 2014. Under the agreement our total rental payments over the lease period are $3, and a security deposit of $3. | |||||
A satellite office in Tokyo, Japan, was closed in January 2012, and the rental deposit of $128 was refunded to us. | |||||
The following is a schedule of the future minimum payments required under operating leases in the aggregate and for each subsequent year through lease maturity: | |||||
Year ending | |||||
2014 | $ | 104 | |||
2015 | – | ||||
Total | $ | 104 | |||
The total lease rental expense was $145 for the year ended December 31, 2013. | |||||
Commitments | |||||
Consulting agreements | |||||
On October 26, 2012, the Company entered into a one–year financial advisory and consulting agreement with a national investment–banking firm. Compensation under the agreement includes cash consideration of $250 and 120,000 shares of restricted Common Stock. Under the terms of the agreement, there are no penalties or liabilities to the Company if approval is not received. Issuances of restricted Common Stock to service providers as compensation for services are subject to shareholder approval. These shares were subsequently issued on September 4, 2013, (2012: None.). The stock was valued at $504, the closing market price on that date. For the year ended December 31, 2013, the Company expensed $188 in cash and $504 in stock consideration (2012: $42 and $nil respectively). | |||||
In November 2012, in connection with the sale of the Preferred Stock, the Company was required to enter into investor/public relations service agreements, with terms of seven, ten and twelve months. Compensation under the agreements included cash consideration of $444, the issuance of 100,000 shares of Preferred Stock and 400,000 warrants to purchase MGT Common Stock. Issuance of Preferred Stock and warrants to service providers as compensation for services are subject to shareholder and NYSE MKT approval. No shares were approved or issued as of December 31, 2013 and 2012. Under the terms of the agreements, there are no penalties or liabilities to the Company if approval is not received. | |||||
The twelve–month agreement was mutually terminated in January 2013, and the stock consideration still owed under the agreement was further renegotiated on May 3, 2013, to replace the issuance of 100,000 shares of Preferred Stock and 200,000 warrants to purchase MGT Common Stock with the issuance of 50,000 shares of Restricted Common Stock, subject to NYSE MKT exchange approval. These shares were subsequently issued on September 4, 2013. The stock was valued at $206, using the closing market price on that date. | |||||
On May 3, 2013, the seven–month agreement was mutually terminated, reducing the future cash consideration due by $20 in consideration of having a month–to–month service agreement for $15 per month. This agreement was cancelled in August 2013. | |||||
The ten–month agreement terminated in accordance with its terms on September 19, 2013, however, because the obligation to meet the timeframe contemplated and the issuance of the Warrant was never made, management determined it was in the best interest of the Company to enter into a settlement regarding the Warrant issuance. On December 2, 2013, the Company entered into a Settlement Agreement (the “Settlement Agreement”). Pursuant to the Settlement Agreement, both parties agreed to the following: (i) the Company’s obligation to grant the Warrant and to issue the underlying Common Stock, and Century’s right to receive the Warrant and the underlying Common Stock is cancelled, (ii) Century will make a cash payment to the Company of $100 and (iii) the Company will issue to Century 100,000 shares of Common Stock subject to NYSE MKT exchange approval. Proceeds under the Settlement Agreement were received December 10, 2013. The shares were issued on December 26, 2013 and valued at $301, using the closing market price on that date. The Company recorded $201 of expense and $100 of cash proceeds related to the issuance. | |||||
For the years ended December 31, 2013, the Company paid $415 in cash consideration (2012: $113), and recognized $911 (2012: $nil) of stock–based expense relating to the agreements. | |||||
Haller agreements | |||||
On September 30, 2013, the Company and Michael Haller (“Haller”) agreed to terminate the June 1, 2013, Employment Agreement between the Company and Haller. In addition, the Company agreed to license certain intellectual property obtained from Digital Angel Corporation to Gammaker Pty. Ltd (“Gammaker”), a Singapore entity controlled by Haller in exchange for a 10% share of the gross revenues generated by Gammaker on such licensed assets. The Company also sold to Haller certain trademarks owned by the Company for consideration of $6, which was received on October 17, 2013. | |||||
Income_taxes
Income taxes | 12 Months Ended | ||||||||||
Dec. 31, 2013 | |||||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||||
Income Tax Disclosure [Text Block] | ' | ||||||||||
Note 12. Income taxes | |||||||||||
Significant components of deferred tax assets were as follows as of December 31: | |||||||||||
Year ended December 31, | |||||||||||
2013 | 2012 | ||||||||||
U.S. federal tax loss carry–forward | $ | 8,511 | $ | 6,400 | |||||||
U.S. State tax loss carry–forward | 653 | 224 | |||||||||
Foreign tax loss carry–forward | – | 15,552 | |||||||||
U.S. federal capital loss carry–forward | 706 | 706 | |||||||||
U.S. foreign tax credit carry–forward | 248 | – | |||||||||
Equity–based compensation, fixed assets and other | 1,446 | 255 | |||||||||
Total deferred tax assets | 11,564 | 23,137 | |||||||||
Less: valuation allowance | -11,564 | -22,917 | |||||||||
Deferred tax liability – warrants | – | -220 | |||||||||
Net deferred tax asset | $ | – | $ | – | |||||||
As of December 31, 2013, the Company had the following tax attributes: | |||||||||||
Amount | Begins to expire | ||||||||||
U.S. federal net operating loss carry–forwards | $ | 25,064 | Fiscal 2023 | ||||||||
U.S. State net operating loss carry–forwards | 11,703 | Fiscal 2031 | |||||||||
U.S. federal foreign tax credit carry–forwards | 248 | Fiscal 2025 | |||||||||
U.S. federal capital loss carry–forwards | 2,076 | Fiscal 2015 | |||||||||
As it is not more likely than not that the resulting deferred tax benefits will be realized, a full valuation allowance has been recognized for such deferred tax assets. Federal and state laws impose substantial restrictions on the utilization of tax attributes in the event of an “ownership change,” as defined in Section 382 of the Internal Revenue Code. Currently, the Company does not expect the utilization of tax attributes in the near term to be materially affected as no significant limitations are expected to be placed on these tax attributes as a result of previous ownership changes. If an ownership change is deemed to have occurred as a result of equity ownership changes or offerings, potential near term utilization of these assets could be reduced. | |||||||||||
The provision for/(benefit from) income tax differs from the amount computed by applying the statutory federal income tax rate to income before the provision for/(benefit from) income taxes. The sources and tax effects of the differences are as follows for the year ended December 31: | |||||||||||
2013 | 2012 | ||||||||||
Expected Federal Tax | 34 | % | 35 | % | |||||||
State Tax (Net of Federal Benefit) | 6.63 | – | |||||||||
Permanent differences | -1.98 | – | |||||||||
Loss of NOL benefit of closed foreign entity | -142.44 | – | |||||||||
Foreign tax credit | 1.6 | – | |||||||||
Other | -1.78 | – | |||||||||
Foreign rate differential | – | 42 | |||||||||
Change in valuation allowance | -103.98 | -7 | |||||||||
Effective rate of income tax | 0 | % | 0 | % | |||||||
There was an income tax expense of $nil and $14 recorded in the years ended December 31, 2013, and 2012, respectively. | |||||||||||
The Company files income tax returns in the U.S. federal jurisdiction, New York State, New York City, New Jersey and California jurisdictions. With few exceptions, the Company is no longer subject to U.S. federal, state and local, or non–U.S. income tax examinations by tax authorities for years before 2010. | |||||||||||
Related_party_transactions
Related party transactions | 12 Months Ended |
Dec. 31, 2013 | |
Related Party Transactions [Abstract] | ' |
Related Party Transactions [Text Block] | ' |
Note 13. Related party transactions | |
FanTD – loan payable to FanTD members | |
The Company had a loan payable to certain founding members of FanTD. The loan served to temporarily assist with FanTD’s operating expenditures. The loan was interest–free and payable on demand no later than December 31, 2013. On October 29, 2013 and November 18, 2013, the Company paid $50 and $50, respectively towards the outstanding balance. The outstanding balance as of December 31, 2013 was $nil. | |
Fair_value_of_financial_instru
Fair value of financial instruments | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||
Fair Value Disclosures [Text Block] | ' | ||||||||||||||||
Note 14. Fair value of financial instruments | |||||||||||||||||
The Company follows paragraph 825–10–50–10 of the FASB Accounting Standards Codification for disclosures about fair value of its financial instruments and paragraph 820–10–35–37 of the FASB Accounting Standards Codification (“Paragraph 820–10–35–37”) to measure the fair value of its financial instruments. Paragraph 820–10–35–37 establishes a framework for measuring fair value in accounting principles generally accepted in the United States of America (“GAAP”), and expands disclosures about fair value measurements. To increase consistency and comparability in fair value measurements and related disclosures, Paragraph 820–10–35–37 establishes a fair value hierarchy which prioritizes the inputs to valuation techniques used to measure fair value into three (3) broad levels. The fair value hierarchy gives the highest priority to quoted prices (unadjusted) in active markets for identical assets or liabilities and the lowest priority to unobservable inputs. The three (3) levels of fair value hierarchy defined by Paragraph 820–10–35–37 are described below: | |||||||||||||||||
Level 1 | Quoted market prices available in active markets for identical assets or liabilities as of the reporting date. | ||||||||||||||||
Level 2 | Pricing inputs other than quoted prices in active markets included in Level 1, which are either directly or indirectly observable as of the reporting date. | ||||||||||||||||
Level 3 | Pricing inputs that are generally observable inputs and not corroborated by market data. | ||||||||||||||||
Financial assets are considered Level 3 when their fair values are determined using pricing models, discounted cash flow methodologies or similar techniques and at least one significant model assumption or input is unobservable. | |||||||||||||||||
The fair value hierarchy gives the highest priority to quoted prices (unadjusted) in active markets for identical assets or liabilities and the lowest priority to unobservable inputs. If the inputs used to measure the financial assets and liabilities fall within more than one level described above, the categorization is based on the lowest level input that is significant to the fair value measurement of the instrument. | |||||||||||||||||
The carrying amount of the Company’s financial assets and liabilities, such as cash, accounts receivable, prepaid expenses, accounts payable and accrued expenses, accrued dividends and unearned convention revenue approximate their fair value because of the short maturity of those instruments. The Company’s convertible Preferred Stock and warrants approximate the fair value of such instruments based upon management’s best estimate of interest rates that would be available to the Company for similar financial arrangements at December 31, 2013, and 2012. | |||||||||||||||||
The Company uses Level 3 of the fair value hierarchy to measure the fair value of the derivative liabilities and revalues its derivative warrant liability at every reporting period and recognizes gains or losses in the consolidated statements of operations and comprehensive income (loss) that are attributable to the change in the fair value of the derivative warrant liability. | |||||||||||||||||
Fair Value of Financial Assets and Liabilities Measured on a Recurring Basis | |||||||||||||||||
Level 3 Financial Liabilities – Derivative conversion features and warrant liabilities | |||||||||||||||||
Financial assets and liabilities measured at fair value on a recurring basis are summarized below and disclosed on the consolidated balance sheets as of December 31, 2013: | |||||||||||||||||
Fair value measurement using | |||||||||||||||||
Carrying value | Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Derivative warrant – liability | $ | – | $ | – | $ | – | $ | – | $ | – | |||||||
Financial assets and liabilities measured at fair value on a recurring basis are summarized below and disclosed on the consolidated balance sheets as of December 31, 2012: | |||||||||||||||||
Fair value measurement using | |||||||||||||||||
Carrying value | Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Derivative warrant – liability | $ | 7,166 | $ | – | $ | – | $ | 7,166 | $ | 7,166 | |||||||
The table below provides a summary of the changes in fair value, including net transfers in and/or out, of all financial assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) during the year ending December 31, 2013: | |||||||||||||||||
Fair value measurement | |||||||||||||||||
using level 3 inputs | |||||||||||||||||
Derivatives | Total | ||||||||||||||||
Balance January 1, 2012 | $ | - | $ | - | |||||||||||||
Issuance of warrants to purchase intangible assets | 851 | 851 | |||||||||||||||
Revaluation of warrant liability | 557 | 557 | |||||||||||||||
Issuance of warrants with the issuance of Preferred Series A Convertible stock | 6,731 | 6,731 | |||||||||||||||
Issuance of additional warrants due to anti-dilution provision | 141 | 141 | |||||||||||||||
Transfers in and/or out of Level III | - | - | |||||||||||||||
Balance December 31, 2012 | $ | 7,166 | $ | 7,166 | |||||||||||||
Total (gains) or losses (realized/unrealized) included in consolidated statements of operations | 2,204 | 2,204 | |||||||||||||||
Purchases, issuances and settlements | - | - | |||||||||||||||
Reclassification of derivative liabilities to equity upon modification of terms (Note 6) | -9,370 | -9,370 | |||||||||||||||
Balance, December 31, 2013 | $ | - | $ | – | |||||||||||||
Convertible_note_and_warrant
Convertible note and warrant | 12 Months Ended |
Dec. 31, 2013 | |
Warrants and Rights Note Disclosure [Abstract] | ' |
Schedule of Stockholders' Equity Note, Warrants or Rights [Text Block] | ' |
Note 15. Convertible note and warrant | |
On May 24, 2012, the Company entered into a securities purchase agreement (the “SPA”) with Hudson Bay Fund Ltd. (the “Investor”). The SPA provided for the purchase of an 18 month promissory note (the “Senior Secured Convertible Note” or the “Note”) convertible into up to 1,166,667 shares of Company Common Stock at a conversion price of $3.00 per share and a warrant (the “Hudson Bay Warrant” or the “HB Warrant”) to purchase up to 875,000 shares of Common Stock at an exercise price of $3.00 per share for proceeds of $3,500 (the “Hudson Bay Transaction”). The HB Warrant is exercisable at the option of the holder at a $3.00 per share exercise price and the Company can require exercise if the Weighted Average Price of the Company’s Common Stock equals or exceeds 250% of the exercise price for no less than twenty (20) Trading Days during any thirty (30) consecutive Trading Day period occurring following the issuance date, as such terms are defined in the HB Warrant. The HB Warrant exercise price is subject to adjustment in the case of combination or subdivision of stock or in the event of the granting of any stock appreciation rights, phantom stock rights or other rights with equity features. The Note allows for payment of Common Stock in lieu of cash interest payments due pursuant to the Note. | |
In connection with the Hudson Bay Transaction, MGT issued 75,000 shares of Restricted Common Stock to Chardan Capital Markets, LLC (“Chardan”) and certain affiliates of Chardan in consideration of investment banking services rendered. Stockholder approval was obtained for the issuance of 75,000 shares of Restricted Common Stock to Chardan. The restricted Common Stock was recorded at fair market value of $315 at the date of closing and was issued on August 9, 2012. | |
Financing and issuance costs totaling $688 were incurred in connection with the issuance of the Note and HB Warrants. These costs include legal and placement fees, including the issuance of the 75,000 shares of restricted Common Stock. The total costs were allocated based on relative fair values to deferred financing costs in the amount of $588 and HB Warrant issuance costs of $100. Deferred financing costs are amortized through periodic charges to non–operating expense over the 18 month period from the date of issuance to the date the Note is due using the effective interest method. Amortization expense for the year ended December 31, 2013, and 2012, was $nil and $125, respectively. | |
The debt to equity conversion feature embedded in the Note was evaluated to determine if such conversion feature should be bifurcated from its host instrument and accounted for as a free standing derivative. The Company determined that the conversion feature did not need to be bifurcated. The fair value of the beneficial conversion feature was calculated to be $500 after adjusting the effective conversion price for the fair value of the HB Warrants issued, recognized as an increase of additional paid–in capital and a discount to the convertible note. The discount to the convertible note payable is accreted through periodic charges to other non–operating expense over the 18 month period from the date of issuance to the date the Note is due using the effective interest method. | |
The fair value of the HB Warrant was estimated on the date of issuance, June 1, 2012, using a closed–formula option pricing method for barrier–type options that took into account the terms of the option rights of the holder and also the Company’s mandatory exercise option, which is consistent with using a Monte Carlo option pricing method. The options pricing methods used the following input assumptions: expected stock price volatility 75.0%; warrant term five (5) years; risk–free rate of 0.80%; dividend yield 0.0%. As the trading volume of the Company’s publicly traded shares was approximately 30,000 per day and the issuable shares under the Note and HB warrant were over 2.0 million, and further because these issuable shares had not yet been registered for public sale at the issuance date, the price of the underlying shares was discounted approximately 30% for options pricing purposes. The fair value of the total HB warrants issued, given the terms of the HB Warrant agreement, was determined to be $500. The HB warrant fair value was recognized as an increase of additional paid–in capital and a discount to the convertible note. The discount to the convertible note payable is accreted through periodic charges to other non–operating expense over the 18 month period from the date of issuance to the date the Note is due using the effective interest method. | |
The beneficial conversion feature and the HB warrant discount accretion expense for the years ending December 31, 2013, and 2012, was $nil and $199, respectively. | |
The estimates discussed above require us to make assumptions based on historical results, observance of trends in our stock price, future expectations and other relevant risk factors. If other assumptions had been used, the HB Warrant valuation as calculated and recorded under the accounting guidance could have been affected. | |
Volatility is a key factor in option pricing models. For purposes of determining expected volatility, the Company used significant judgment to identify a peer group. The historical volatility of the Company’s own Common Stock was not deemed pertinent to the estimate, because of the recent change in the Company’s operations and business plan. The risk–free rate for the period coincides with the expected life of the HB Warrants and is based on the U.S. Treasury Department yield curve in effect at time of closing. | |
On October 9, 2012, the Company executed two identical exchange agreements (collectively, the “Agreements”) settling the outstanding Note for a cash payment of $3.5 million and 100,000 shares of the Company’s Common Stock valued at $415, using the opening price of the Company’s Common Stock on October 9, 2012. The net carrying amount of the Note on the date of extinguishment was $2,698 which was comprised of the amount due at maturity of $3,500 less unamortized debt discount of $802 related to the amount allocated to the warrants and the beneficial conversion feature at issuance. The total reacquisition price of $3,915 was allocated first to the repurchased beneficial conversion feature by recording a reduction of additional paid–in capital of $1,341 measured as the intrinsic value of that conversion feature at the extinguishment date with the residual amount of the reacquisition price of $2,574 allocated to the Note. The difference between the reacquisition price allocated to the Note and the net carrying amount of the Note resulted in a gain of $124 which when netted with the write off of unamortized deferred financing costs of $462 and legal cost of $17, at extinguishment resulted in a total loss on extinguishment of $355. Extinguishment of debt, gains and losses, including fees, incurred in connection with the early extinguishment of debt are charged to current earnings as reductions in non–operating expenses. | |
For the years ending December 31, 2013 and 2012, interest expense on the convertible note was $nil and $93, respectively. | |
Accrued_expenses
Accrued expenses | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Payables and Accruals [Abstract] | ' | |||||||
Accrued Expenses [Text Block] | ' | |||||||
Note 16. Accrued expenses | ||||||||
2013 | 2012 | |||||||
Professional fees | $ | 66 | $ | 200 | ||||
Vendors | – | – | ||||||
Non-executive directors’ fees | 23 | 54 | ||||||
Other | 5 | 18 | ||||||
Total | $ | 94 | $ | 272 | ||||
As of December 31, 2013, the Company accrued $nil (2012: $18) related to the acquisition of Medicsight Ltd ordinary shares (Note 9). | ||||||||
Summary_of_significant_account1
Summary of significant accounting policies (Policies) | 12 Months Ended | ||
Dec. 31, 2013 | |||
Accounting Policies [Abstract] | ' | ||
Basis of Accounting, Policy [Policy Text Block] | ' | ||
Basis of presentation | |||
Prior to the change in functional currency effective June 30, 2012, all foreign currency translation gains and losses arising on consolidation were recorded in stockholders’ equity as a component of accumulated other comprehensive income / (loss). Non–controlling interest represents the minority equity investment in any of the MGT subsidiaries, plus the minorities’ share of the net operating result and other components of equity relating to the non–controlling interest. | |||
Use of Estimates, Policy [Policy Text Block] | ' | ||
Use of estimates and assumptions and critical accounting estimates and assumptions | |||
The preparation of financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date(s) of the financial statements and the reported amounts of revenues and expenses during the reporting period(s). | |||
Critical accounting estimates are estimates for which (a) the nature of the estimate is material due to the levels of subjectivity and judgment necessary to account for highly uncertain matters or the susceptibility of such matters to change and (b) the impact of the estimate on financial condition or operating performance is material. The Company’s critical accounting estimates and assumptions affecting the financial statements were: | |||
-1 | Allowance for doubtful accounts: Management’s estimate of the allowance for doubtful accounts is based on historical sales, historical loss levels, and an analysis of the collectability of individual accounts; and general economic conditions that may affect a client’s ability to pay. The Company evaluated the key factors and assumptions used to develop the allowance in determining that it is reasonable in relation to the financial statements taken as a whole. | ||
-2 | Fair value of long–lived assets: Fair value is generally determined using the asset’s expected future discounted cash flows or market value, if readily determinable. If long–lived assets are determined to be recoverable, but the newly determined remaining estimated useful lives are shorter than originally estimated, the net book values of the long–lived assets are depreciated over the newly determined remaining estimated useful lives. The Company considers the following to be some examples of important indicators that may trigger an impairment review: (i) significant under–performance or losses of assets relative to expected historical or projected future operating results; (ii) significant changes in the manner or use of assets or in the Company’s overall strategy with respect to the manner or use of the acquired assets or changes in the Company’s overall business strategy; (iii) significant negative industry or economic trends; (iv) increased competitive pressures; (v) a significant decline in the Company’s stock price for a sustained period of time; and (vi) regulatory changes. The Company evaluates acquired assets for potential impairment indicators at least annually and more frequently upon the occurrence of such events. | ||
-3 | Valuation allowance for deferred tax assets: Management assumes that the realization of the Company’s net deferred tax assets resulting from its net operating loss (“NOL”) carry–forwards for Federal income tax purposes that may be offset against future taxable income was not considered more likely than not and accordingly, the potential tax benefits of the net loss carry–forwards are offset by a full valuation allowance. Management made this assumption based on (a) the Company has incurred recurring losses, (b) general economic conditions, and (c) its ability to raise additional funds to support its daily operations by way of a public or private offering, among other factors. | ||
-4 | Estimates and assumptions used in valuation of equity instruments: Management estimates expected term of share options and similar instruments, expected volatility of the Company’s common shares and the method used to estimate it, expected annual rate of quarterly dividends, and risk free rate(s) to value share options and similar instruments. | ||
These significant accounting estimates or assumptions bear the risk of change due to the fact that there are uncertainties attached to these estimates or assumptions, and certain estimates or assumptions are difficult to measure or value. | |||
Management bases its estimates on historical experience and on various assumptions that are believed to be reasonable in relation to the financial statements taken as a whole under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. | |||
Management regularly evaluates the key factors and assumptions used to develop the estimates utilizing currently available information, changes in facts and circumstances, historical experience and reasonable assumptions. After such evaluations, if deemed appropriate, those estimates are adjusted accordingly. Actual results could differ from those estimates. | |||
Consolidation, Policy [Policy Text Block] | ' | ||
Principles of consolidation | |||
All intercompany transactions and balances have been eliminated. Non–controlling interest represents the minority equity investment in MGT subsidiaries, plus the minority investors’ share of the net operating results and other components of equity relating to the non–controlling interest | |||
Internal Use Software, Policy [Policy Text Block] | ' | ||
Software developed for internal use | |||
The Company follows ASC 350–40 “Intangibles–Internal Use Software” on accounting for the costs of computer software developed or obtained for internal use. Costs incurred during the preliminary stage are expensed as incurred by the Company. Certain qualifying costs incurred during the application development stage are capitalized as property, equipment and software by the Company. The Company begins capitalization when the preliminary project stage is complete and it is probable that the project will be completed and the software will be used to perform the function intended. | |||
Cash and Cash Equivalents, Policy [Policy Text Block] | ' | ||
Cash, cash equivalents and restricted cash | |||
The Company considers investments with original maturities of three months or less to be cash equivalents. Restricted cash primarily represents cash not available for immediate and general use by the Company. | |||
We invest our cash in short–term deposits with major banks. As of December 31, 2012, we held $3,443 of cash and cash equivalents. Cash and cash equivalents consist of cash and temporary investments with original maturities of 90 days or less when purchased. | |||
As of December 31, 2013, our cash balance was $4,642. Of the total cash balance, $3,590 is covered under the US Federal Depository Insurance Corporation. | |||
A of December 31, 2012 our restricted cash was $2,039, consisting of $2,000 restricted under Convertible Preferred Series A Stock Agreement (Note 9) and $39 relating to a rental deposit for our Harrison Office. As of December 31, 2013 restricted cash was $140, which included $99 held in escrow relating to the sale of the Company’s portfolio of medical imaging patents pending reclaim of foreign withholding tax. Proceeds from the patent sale were placed into escrow prior to receipt by the Company pursuant to an escrow agreement between the Company and Munich Innovations GmbH (Note 4). The escrow agent distributed the escrow deposit in accordance with and subject to any deductions specified in the patent sale agreement. The remaining $39 of restricted cash supports a letter of credit, in lieu of a rental deposit, for our Harrison, NY office lease and $2 relates to security deposit for our Saratoga, NY office lease. | |||
With fewer than 345,012 shares of Preferred Stock outstanding, $2,000 was released out of restricted cash as the Company is no longer subject to the Cash Maintenance provision of the Purchase Agreement under which the Preferred Stock was originally sold in October 2012 (Note 9). | |||
Property, Plant and Equipment, Policy [Policy Text Block] | ' | ||
Property and equipment | |||
Property and equipment are stated at cost less accumulated depreciation. Depreciation is calculated using the straight–line method on the various asset classes over their estimated useful lives, which range from two to five years. | |||
Intangible Assets, Finite-Lived, Policy [Policy Text Block] | ' | ||
Intangible assets | |||
Estimates of future cash flows and timing of events for evaluating long–lived assets for impairment are based upon management’s judgment. If any of our intangible or long–lived assets are considered to be impaired, the amount of impairment to be recognized is the excess of the carrying amount of the assets over its fair value. Applicable long–lived assets are amortized or depreciated over the shorter of their estimated useful lives, the estimated period that the assets will generate revenue, or the statutory or contractual term in the case of patents. Estimates of useful lives and periods of expected revenue generation are reviewed periodically for appropriateness and are based upon management’s judgment. | |||
Goodwill and Intangible Assets, Goodwill, Policy [Policy Text Block] | ' | ||
Goodwill | |||
Goodwill represents the excess of the purchase price over the fair value of the assets acquired and liabilities assumed. The Company is required to perform impairment reviews at each of its reporting units annually and more frequently in certain circumstances. | |||
In accordance with ASC 350–20 “Goodwill” , the Company is able to make a qualitative assessment of whether it is more likely than not that a reporting unit’s fair value is less than its carrying amount before applying the two–step goodwill impairment test. If the Company concludes that it is more likely than not that the fair value of a reporting unit is not less than its carrying amount it is not required to perform the two–step impairment test for that reporting unit. | |||
Virtual Currency Liability Related To Avcom [Policy Text Block] | ' | ||
Virtual currency liability related to Avcom | |||
Users of the Company’s website maintain virtual currency balances which are accumulated as users participate in the Company’s online games. The amounts may become payable in cash by the Company once the user’s virtual currency balance exceeds a certain minimum threshold; a virtual currency balance of $10.00 or $20.00 based upon initial date of enrollment on the site. User accounts expire after six months of inactivity. The Company records an accrual for potential virtual currency payouts at the end of each reporting period based on historical payout experience and current virtual currency balances. At December 31, 2013 the Company recorded a liability of $10 relating to potential future virtual currency payouts. | |||
Convertible Instruments [Policy Text Block] | ' | ||
Convertible instruments | |||
The Company evaluates and accounts for conversion options embedded in convertible instruments in accordance with ASC 815 “Derivatives and Hedging Activities” and ASC 470 “Debt”. Applicable GAAP requires companies to bifurcate conversion options from their host instruments and account for them as freestanding derivative financial instruments according to certain criteria. The criteria includes circumstances in which (a) the economic characteristics and risks of the embedded derivative instrument are not clearly and closely related to the economic characteristics and risks of the host contract, (b) the hybrid instrument that embodies both the embedded derivative instrument and the host contract is not re–measured at fair value under otherwise applicable generally accepted accounting principles with changes in fair value reported in earnings as they occur and (c) a separate instrument with the same terms as the embedded derivative instrument would be considered a derivative instrument. An exception to this rule, when the host instrument is deemed to be conventional as that term is described under applicable GAAP. | |||
Beneficial Conversion Features [Policy Text Block] | ' | ||
Beneficial conversion features | |||
From time to time, the Company may issue convertible instruments that may have conversion prices that create an embedded beneficial conversion feature. A beneficial conversion feature exists on the date a convertible note is issued when the fair value of the underlying Common Stock to which the note is convertible into is in excess of the remaining unallocated proceeds of the note after first considering the allocation of a portion of the note proceeds to the fair value of any detachable equity instruments, if any related equity instruments were granted with the debt. The intrinsic value of the beneficial conversion feature is recorded as a discount with a corresponding amount to additional paid–in–capital. A discount to the convertible instrument is accreted to expense over the life of the instrument using the effective interest method. | |||
Revenue Recognition, Policy [Policy Text Block] | ' | ||
Revenue recognition | |||
The Company recognizes revenue when it is realized or realizable and earned. We consider revenue realized or realizable and earned when there is persuasive evidence of an arrangement and that the product has been shipped or the services have been provided to the customer, the sales price is fixed or determinable and collectability is probable. Our material revenue streams are related to the delivery of software license fees, maintenance services, hardware, consulting services and gaming fees. We enter into revenue arrangements that may consist of multiple deliverables of software and services due to the needs of our customers. In addition to these general revenue recognition criteria, the following specific revenue recognition policies are followed: | |||
Multiple–element arrangements — the Company enters into arrangements with visualization solution partners and original equipment manufacturers. For such arrangements, the Company recognizes revenue using the Multiple–Deliverable Revenue Arrangements. For our multiple–element arrangements, deliverables are separated into more than one unit of accounting when (i) the delivered element(s) have value to the customer on a stand–alone basis, and (ii) delivery of the undelivered element(s) is probable and substantially in our control. | |||
The revenue allocated to each deliverable will then be recorded in accordance with existing revenue recognition guidance for stand–alone component sales and services. | |||
⋅ | Software – License fee revenue is derived from the licensing of computer software. Maintenance revenue is derived from software maintenance. Our software licenses are generally sold as part of an arrangement that includes maintenance and support. | ||
The Company generally offers terms that require payment 30 – 45 days from invoicing. Provided that the Reseller: (i) assumes all risk of the purchase, (ii) has the ability and obligation to pay regardless of receiving payment from the end user, and (iii) all other revenue recognition criteria are met, license revenue from Resellers is recognized upon shipment of its product to vendors (“sell–in basis”). | |||
Revenue from license fees is recognized when notification of shipment to the end user has occurred, there are no significant Company obligations with regard to implementation and the Company’s services are not considered essential to the functionality of other elements of the arrangement. | |||
⋅ | Maintenance – Revenue from maintenance and support arrangements is deferred and recognized ratably over the term of the maintenance and support arrangements. | ||
⋅ | Hardware – Revenue is derived from sales of our automated carbon dioxide insufflation device. The device is sold and warrantied exclusively through our distribution partner Ultrasound Technologies, Ltd. with the Company receiving a royalty on each unit sold. Revenue is recognized as orders are satisfied and delivered by our supplier. | ||
⋅ | Services–consulting – Consulting revenue is earned over the period in which the Company provides the related services. The Company recognizes consulting revenue as it meets the terms of the underlying contract on the terms of the agreement. | ||
⋅ | Gaming fees – Revenue represents income earned as entry fees for a daily fantasy sports contest and is presented net of any bonus points applied by customers. Once a contest concludes, the Company recognizes the income earned as revenue. | ||
⋅ | Advertising – Revenue is earned with certain advertising service providers for advertisements within our games and revenue from these advertisers is generated through impressions, click–throughs, banner ads and offers. Revenue is recognized as advertisements are delivered, an executed contract exists, the price is fixed or determinable and collectability has been reasonably assured. Delivery generally occurs when the advertisement has been displayed or the offer has been completed by the user. | ||
The Company incurs costs in connection with the development of software products that are intended for sale. Costs incurred prior to technological feasibility being established for the product are expensed as incurred. Technological feasibility is established upon completion of a detail program design or, in its absence, completion of a working model. Thereafter, all software production costs are capitalized and subsequently reported at the lower of unamortized cost or net realizable value. Capitalized costs are amortized based on current and future revenue for each product with an annual minimum equal to the straight–line amortization over the remaining estimated economic life of the product. Amortization commences when the product is available for general release to customers. | |||
The Company concluded that capitalizing such expenditures on completion of a working model was inappropriate because the Company did not incur any material software production costs and therefore expenses were all research and development costs. Our research and development costs are comprised of staff, consultancy and other costs expensed on our products. | |||
Advertising Costs, Policy [Policy Text Block] | ' | ||
Advertising costs | |||
The Company expenses advertising costs as incurred. During the years ended December 31, 2013 and 2012 respectively, the Company recognized $70 and $nil in advertising costs. | |||
Compensation Related Costs, Policy [Policy Text Block] | ' | ||
Equity–based compensation | |||
The Company recognizes compensation expense for all equity–based payments in accordance with ASC 718 “Share-based payments”. Under fair value recognition provisions, the Company recognizes equity–based compensation net of an estimated forfeiture rate and recognizes compensation cost only for those shares expected to vest over the requisite service period of the award. | |||
Restricted stock awards are granted at the discretion of the Company. These awards are restricted as to the transfer of ownership and generally vest over the requisite service periods, typically over an eighteen month period (vesting on a straight–line basis). The fair value of a stock award is equal to the fair market value of a share of Company stock on the grant date | |||
The fair value of option award is estimated on the date of grant using the Black–Scholes option valuation model. The Black–Scholes option valuation model requires the development of assumptions that are input into the model. These assumptions are the expected stock volatility, the risk–free interest rate, the option’s expected life and the dividend yield on the underlying stock. Expected volatility is calculated based on the historical volatility of our Common Stock over the expected option life and other appropriate factors. Risk–free interest rates are calculated based on continuously compounded risk–free rates for the appropriate term. The dividend yield is assumed to be zero as the Company has never paid or declared any cash dividends on our Common Stock and does not intend to pay dividends on our Common Stock in the foreseeable future. The expected forfeiture rate is estimated based on historical experience. | |||
Determining the appropriate fair value model and calculating the fair value of equity–based payment awards requires the input of the subjective assumptions described above. The assumptions used in calculating the fair value of equity–based payment awards represent management’s best estimates, which involve inherent uncertainties and the application of management’s judgment. As a result, if factors change and the Company uses different assumptions, our equity–based compensation expense could be materially different in the future. In addition, the Company is required to estimate the expected forfeiture rate and recognize expense only for those shares expected to vest. If our actual forfeiture rate is materially different from our estimate, the equity–based compensation expense could be significantly different from what the Company has recorded in the current period. | |||
The Company accounts for share–based payments granted to non–employees in accordance with ASC 505, “Equity Based Payments to Non–Employees”. The Company determines the fair value of the stock–based payment as either the fair value of the consideration received or the fair value of the equity instruments issued, whichever is more reliably measurable. If the fair value of the equity instruments issued is used, it is measured using the stock price and other measurement assumptions as of the earlier of either (1) the date at which a commitment for performance by the counterparty to earn the equity instruments is reached, or (2) the date at which the counterparty’s performance is complete. | |||
Foreign Currency Transactions and Translations Policy [Policy Text Block] | ' | ||
Foreign currency translation | |||
Prior to June 30, 2012, the accounts of the Company were maintained using GBP as the functional currency. Assets and liabilities were translated into U.S. dollars at period–end exchange rates, and income and expense accounts were translated at average monthly exchange rates. Net gains and losses from foreign currency translations were excluded from operating results and were accumulated as a separate component of stockholders’ equity. Gains and losses on foreign currency transactions are reflected in selling, general and administrative expenses in the income statement. | |||
Effective June 30, 2012, in connection with the closing of the Medicsight UK office at quarter end June 2012, and the final transfer of all operations to the U.S., along with MGT’s proceeds from the sale of $3.5 million of convertible notes on June 1, 2012, the Company reassessed the functional currency designation and as a result of the aforementioned activities, determined to prospectively change the functional currency from the previous local currency, GBP to the U.S. dollar. Under ASC 830–10 “Foreign Currency Matters” when the functional currency changes from a foreign currency to the reporting currency, translation adjustments for prior periods shall remain in accumulated other comprehensive income/(loss) and the translated amounts for non–monetary assets at the end of the prior period become the accounting basis for those assets in the period of the change and the subsequent periods. | |||
Income Tax, Policy [Policy Text Block] | ' | ||
Income taxes | |||
The Company applies the elements of ASC 740–10 “Income Taxes — Overall” regarding accounting for uncertainty in income taxes. This clarifies the accounting for uncertainty in income taxes recognized in financial statements and requires the impact of a tax position to be recognized in the financial statements if that position is more likely than not of being sustained by the taxing authority. As of December 31, 2013, the Company did not have any unrecognized tax benefits. The Company does not expect that the amount of unrecognized tax benefits will significantly increase or decrease within the next twelve months. The Company’s policy is to recognize interest and penalties related to tax matters in the income tax provision in the Consolidated Statements of Operations. There was no interest and penalties for the years ended December 31, 2013, and 2012. Tax years beginning in 2010 are generally subject to examination by taxing authorities, although net operating losses from all years are subject to examinations and adjustments for at least three years following the year in which the attributes are used. | |||
Deferred taxes are computed based on the tax liability or benefit in future years of the reversal of temporary differences in the recognition of income or deduction of expenses between financial and tax reporting purposes. The net difference, if any, between the provision for taxes and taxes currently payable is reflected in the balance sheet as deferred taxes. Deferred tax assets and/or liabilities, if any, are classified as current and non–current based on the classification of the related asset or liability for financial reporting purposes, or based on the expected reversal date for deferred taxes that are not related to an asset or liability. Valuation allowances are recorded to reduce deferred tax assets to that amount which is more likely than not to be realized. | |||
Our effective tax rate for fiscal year 2013, and 2012, was (0)% and (0)%, respectively. The difference in the Company’s effective tax rate from the Federal statutory rate is primarily due to a 100% valuation allowance provided for all deferred tax assets. | |||
Comprehensive Income, Policy [Policy Text Block] | ' | ||
Comprehensive income / (loss) | |||
Comprehensive income/(loss) includes net income/(loss) and items defined as other comprehensive income / (loss). Items defined as other comprehensive income/(loss), include foreign currency translation adjustments and are separately classified in the consolidated financial statements. Such items are reported in the Consolidated Statement of Operations and Comprehensive Loss | |||
Earnings Per Share, Policy [Policy Text Block] | ' | ||
Loss per share | |||
Basic loss per share is calculated by dividing net loss applicable to common shareholders by the weighted average number of common shares outstanding during the period. Diluted loss per share is calculated by dividing the net loss attributable to common shareholders by the sum of the weighted average number of common shares outstanding plus potential dilutive common shares outstanding during the period. Potential dilutive securities, comprised of the convertible Preferred Stock, unvested restricted shares and stock options, are not reflected in diluted net loss per share because such shares are anti–dilutive. | |||
The computation of diluted loss per share for the year ending December 31, 2013, excludes 9,413 shares in connection to the convertible Preferred Stock, 920,825 warrants and 52,677 unvested restricted shares, as they are anti–dilutive due to the Company’s net loss. For the year ending December 31, 2012, 1,394,766 common shares in connection to convertible Preferred Stock, 4,038,753 warrants and 314,669 unvested restricted shares, are excluded because they are anti–dilutive due to the Company’s loss. | |||
Segment Reporting, Policy [Policy Text Block] | ' | ||
Segment reporting | |||
Operating segments are defined as components of an enterprise about which separate financial information is available that is evaluated regularly by the chief operating decision maker, or decision–making group in deciding how to allocate resources and in assessing performance. Our chief operating decision–making group is composed of the chief executive officer and chief financial officer. We operate in four operational segments, Medicsight Software/Devices, Medicsight Services, Gaming and Intellectual Property. MGT Gaming is now referred to as Intellectual Property. Gaming is a new segment for the current year. Certain corporate expenses are not allocated to segments. | |||
New Accounting Pronouncements, Policy [Policy Text Block] | ' | ||
Recent accounting pronouncements | |||
There are no recent accounting pronouncements that are expected to have an effect on the Company’s financial statements. | |||
Asset_purchases_and_acquisitio1
Asset purchases and acquisitions of businesses (Tables) | 12 Months Ended | |||||||||||||
Dec. 31, 2013 | ||||||||||||||
Business Acquisition [Line Items] | ' | |||||||||||||
Business Acquisition, Pro Forma Information [Table Text Block] | ' | |||||||||||||
The following tables summarize, on an unaudited pro–forma basis, the results of operations of the Company as though the acquisitions of Avcom and FanTD had occurred as of January 1, 2013, and 2012. The pro–forma amounts give effect to appropriate adjustments of amortization of intangible assets and interest expense associated with the financing of the acquisition. The pro–forma amounts presented are not necessarily indicative of the actual results of operations had the acquisition transaction occurred as of January 1, 2013, and 2012. | ||||||||||||||
Year ended December 31, 2013 | MGT | FanTD | Avcom | Pro–forma | ||||||||||
total | ||||||||||||||
Revenues | $ | 396 | $ | 62 | $ | 110 | $ | 568 | ||||||
Net loss | -10,202 | -336 | 125 | -10,538 | ||||||||||
Loss per share of Common Stock | -1.84 | – | – | -1.82 | ||||||||||
Basic and diluted | 5,590,618 | – | – | 5,801,068 | ||||||||||
Year ended December 31, 2012 | ||||||||||||||
Revenues | $ | 409 | $ | 3 | $ | 214 | $ | 626 | ||||||
Net loss | -3,604 | -167 | -289 | -4,060 | ||||||||||
Loss per share of Common Stock | -2.62 | – | – | -1.45 | ||||||||||
Basic and diluted | 2,245,465 | – | – | 2,806,974 | ||||||||||
Digital Angel [Member] | ' | |||||||||||||
Business Acquisition [Line Items] | ' | |||||||||||||
Schedule Of Purchase Price Allocations [Table Text Block] | ' | |||||||||||||
The following table summarizes the Company’s allocation of the purchase price to the separable components of the mobile applications based on their relative fair values at the date the purchase was completed. | ||||||||||||||
Purchase price allocation: | ||||||||||||||
Software and hardware | $ | 28 | ||||||||||||
Trademark | 6 | |||||||||||||
Intangible assets – mobile gaming application | 305 | |||||||||||||
Net assets acquired | $ | 339 | ||||||||||||
FanTD [Member] | ' | |||||||||||||
Business Acquisition [Line Items] | ' | |||||||||||||
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] | ' | |||||||||||||
The following tables summarizes the preliminary fair values of the net liabilities assumed and the allocation of the aggregate fair value of the purchase consideration, non–controlling interest and net liabilities to assumed identifiable and unidentifiable intangible assets: | ||||||||||||||
Purchase consideration: | ||||||||||||||
Common Stock (600,000 shares at the transaction date fair value of $5.03 per share) | $ | 3,018 | ||||||||||||
Cash | 202 | |||||||||||||
Aggregate purchase consideration | 3,220 | |||||||||||||
Fair value of non–controlling interest | 1,882 | |||||||||||||
Aggregate fair value of enterprise | 5,102 | |||||||||||||
Purchase price allocation: | ||||||||||||||
Net liabilities assumed | -69 | |||||||||||||
Property and equipment | 4 | |||||||||||||
-65 | ||||||||||||||
Aggregate fair value of purchase consideration, non-controlling interest and net liabilities assumed allocated to intangible assets as follows: | ||||||||||||||
Developed software | 186 | |||||||||||||
Customer list | 33 | |||||||||||||
Goodwill | 4,948 | |||||||||||||
Total purchase price allocation | $ | 5,102 | ||||||||||||
Avcom [Member] | ' | |||||||||||||
Business Acquisition [Line Items] | ' | |||||||||||||
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] | ' | |||||||||||||
The following tables summarizes the preliminary fair values of the net liabilities assumed and the allocation of the aggregate fair value of the purchase consideration to assumed identifiable and unidentifiable intangible assets: | ||||||||||||||
Purchase consideration: | ||||||||||||||
Cash consideration | $ | 10 | ||||||||||||
Stock consideration (491,035 shares at $3.16 closing price) | 1,552 | |||||||||||||
Total purchase consideration | $ | 1,562 | ||||||||||||
Purchase price allocation: | ||||||||||||||
Current assets and liabilities | $ | -6 | ||||||||||||
Equipment | 7 | |||||||||||||
Intangible assets – Patent applications | 15 | |||||||||||||
Intangible assets – Website | 50 | |||||||||||||
Goodwill | 1,496 | |||||||||||||
Total purchase price allocation | $ | 1,562 | ||||||||||||
Goodwill_and_intangible_assets1
Goodwill and intangible assets (Tables) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | ||||||||||||||||
Schedule of Goodwill [Table Text Block] | ' | ||||||||||||||||
The Company performed this impairment test and concluded that impairment did not exist as of December 31, 2013. | |||||||||||||||||
Goodwill | |||||||||||||||||
Balance, December 31, 2012 | $ | – | |||||||||||||||
Acquisitions (Note 3) | 6,444 | ||||||||||||||||
Balance, December 31, 2013 | $ | 6,444 | |||||||||||||||
Schedule of Finite-Lived Intangible Assets [Table Text Block] | ' | ||||||||||||||||
Estimated | |||||||||||||||||
remaining | As of | As of | |||||||||||||||
useful | December 31, | December 31, | |||||||||||||||
life | 2013 | 2012 | |||||||||||||||
Intellectual property | 6 years | $ | 2,468 | $ | 1,913 | ||||||||||||
Software and website development | 2 years | 275 | – | ||||||||||||||
Customer lists | 4 years | 159 | – | ||||||||||||||
Trademarks | 3 years | 7 | – | ||||||||||||||
Less: Accumulated amortization | -486 | -118 | |||||||||||||||
Intangible assets, net | 2,423 | 1,795 | |||||||||||||||
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | ' | ||||||||||||||||
Estimated future annual amortization expense as of: | |||||||||||||||||
Software and | |||||||||||||||||
Intellectual | website | ||||||||||||||||
property | development | Customer lists | Trademarks | Total | |||||||||||||
2014 | $ | 363 | $ | 83 | $ | 40 | $ | 3 | $ | 489 | |||||||
2015 | 363 | 83 | 40 | 3 | 489 | ||||||||||||
2016 | 363 | 52 | 40 | 1 | 456 | ||||||||||||
2017 | 363 | – | 17 | – | 380 | ||||||||||||
2018 | 363 | – | – | – | 363 | ||||||||||||
Thereafter | 246 | – | – | – | 246 | ||||||||||||
$ | 2,061 | $ | 218 | $ | 137 | $ | 7 | $ | 2,423 | ||||||||
Property_and_equipment_Tables
Property and equipment (Tables) | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Property, Plant and Equipment [Abstract] | ' | |||||||
Property, Plant and Equipment [Table Text Block] | ' | |||||||
Property and equipment consisted of the following: | ||||||||
December 31, | ||||||||
2013 | 2012 | |||||||
Computer hardware and software | $ | 152 | $ | 101 | ||||
Furniture and fixtures | 12 | 12 | ||||||
164 | 113 | |||||||
Less: Accumulated depreciation | -119 | -88 | ||||||
Total | $ | 45 | $ | 25 | ||||
Stock_incentive_plan_and_stock1
Stock incentive plan and stock-based compensation (Tables) | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Disclosure Of Compensation Related Costs, Share-Based Payments [Abstract] | ' | |||||||
Schedule of Nonvested Restricted Stock Units Activity [Table Text Block] | ' | |||||||
A summary of the Company’s employee’s restricted stock as of December 31, 2013, is presented below: | ||||||||
Weighted | ||||||||
average grant | ||||||||
Number of | date fair | |||||||
shares | value | |||||||
Non–vested at December 31, 2012 | 314,667 | $ | 5.2 | |||||
Granted | 6,000 | 3.68 | ||||||
Vested | -264,000 | 4.56 | ||||||
Forfeited | -4,000 | 4.62 | ||||||
Non–vested at December 31, 2013 | 52,667 | $ | 4.56 | |||||
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Table Text Block] | ' | |||||||
The Company has recorded the following amounts related to its share–based compensation expense in the accompanying Consolidated Statements of Operations and Comprehensive Loss: | ||||||||
Year ended December 31, | ||||||||
2013 | 2012 | |||||||
Selling, general and administrative | $ | 1,357 | $ | 746 | ||||
Research and development | – | 7 | ||||||
$ | 1,357 | $ | 753 | |||||
Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block] | ' | |||||||
The following table summarizes information about warrants outstanding at December 31, 2013: | ||||||||
Number | Weighted average | |||||||
of warrants | exercise price | |||||||
Warrants outstanding at December 31, 2012 | 4,038,753 | $ | 3.68 | |||||
Issued | – | – | ||||||
Exercised | -3,117,928 | 3.75 | ||||||
Expired | – | – | ||||||
Warrants outstanding at December 31, 2013 | 920,825 | $ | 3.44 | |||||
Noncontrolling_interest_Tables
Non-controlling interest (Tables) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Noncontrolling Interest [Abstract] | ' | ||||||||||||||||
Schedule of Stockholders Equity [Table Text Block] | ' | ||||||||||||||||
The Company has the following non–controlling interest: | |||||||||||||||||
MGT | FanTD | MGT | M2P | Total | |||||||||||||
Gaming | Interactive | Americas | |||||||||||||||
Non–controlling interest at January 1, 2013 | $ | 768 | $ | – | $ | – | $ | – | $ | 768 | |||||||
Purchase of FanTD | – | 1,882 | – | – | 1,882 | ||||||||||||
Investment in MGT Interactive | – | – | 191 | – | 191 | ||||||||||||
Non–controlling share of net losses | -183 | -451 | -95 | -5 | -734 | ||||||||||||
Non–controlling interest at December 31, 2013 | $ | 585 | $ | 1,431 | $ | 96 | $ | -5 | $ | 2,107 | |||||||
Segment_reporting_Tables
Segment reporting (Tables) | 12 Months Ended | |||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||
Segment Reporting [Abstract] | ' | |||||||||||||||||||
Schedule of Segment Reporting Information, by Segment [Table Text Block] | ' | |||||||||||||||||||
The accounting policies of the segments are the same as those described in the summary of significant accounting policies (Note 2). We evaluate performance of our operating segments based on revenue and operating (loss). Segment information as of December 31, 2013, and December 31, 2012, are as follows: | ||||||||||||||||||||
Medicsight | ||||||||||||||||||||
Software/ | Services | Intellectual | Gaming | Unallocated | Total | |||||||||||||||
Devices | property | corporate/ | ||||||||||||||||||
other | ||||||||||||||||||||
Year ended December 31, 2013 | ||||||||||||||||||||
Revenues | $ | 78 | $ | 97 | $ | – | $ | 221 | $ | – | $ | 396 | ||||||||
Cost of revenue | – | -63 | – | -496 | – | -559 | ||||||||||||||
Gross margin | 78 | 34 | – | -275 | – | -163 | ||||||||||||||
Operating profit/(loss ) | 63 | 27 | -1,195 | -1,440 | -6,967 | -9,512 | ||||||||||||||
Year ended December 31, 2012 | ||||||||||||||||||||
Revenues | $ | 222 | $ | 187 | $ | – | $ | – | $ | – | $ | 409 | ||||||||
Cost of revenue | -92 | -173 | – | – | – | -265 | ||||||||||||||
Gross margin | 130 | 14 | – | – | – | 144 | ||||||||||||||
Operating loss | -1,755 | -11 | -208 | – | -2,516 | -4,490 | ||||||||||||||
31-Dec-13 | ||||||||||||||||||||
Cash and cash equivalents (excludes $140 of restricted cash) | $ | – | $ | – | $ | 6 | $ | 338 | $ | 4,298 | $ | 4,642 | ||||||||
Property and equipment | – | – | – | 28 | 17 | 45 | ||||||||||||||
Intangible assets | – | – | 2,007 | 416 | – | 2,423 | ||||||||||||||
Goodwill | – | – | – | 6,444 | – | 6,444 | ||||||||||||||
Additions: | ||||||||||||||||||||
Property and equipment | – | – | – | 42 | 9 | 51 | ||||||||||||||
Intangible assets | – | – | – | 1,002 | – | 1,002 | ||||||||||||||
Goodwill | – | – | – | 6,444 | – | 6,444 | ||||||||||||||
31-Dec-12 | ||||||||||||||||||||
Cash and cash equivalents (excludes $2,039 of restricted cash) | $ | 330 | $ | – | $ | 49 | $ | – | $ | 3,064 | $ | 3,443 | ||||||||
Property and equipment | – | – | – | – | 25 | 25 | ||||||||||||||
Intangible assets | – | – | 1,795 | – | – | 1,795 | ||||||||||||||
Goodwill | – | – | – | – | – | – | ||||||||||||||
Additions: | ||||||||||||||||||||
Property and equipment | – | – | – | – | 17 | 17 | ||||||||||||||
Intangible assets | – | – | 1,795 | – | – | 1,795 | ||||||||||||||
Goodwill | – | – | – | – | – | – | ||||||||||||||
Operating_leases_commitments_a1
Operating leases, commitments and security deposits (Tables) | 12 Months Ended | ||||
Dec. 31, 2013 | |||||
Operating Leases Commitments and Security Deposit [Abstract] | ' | ||||
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block] | ' | ||||
The following is a schedule of the future minimum payments required under operating leases in the aggregate and for each subsequent year through lease maturity: | |||||
Year ending | |||||
2014 | $ | 104 | |||
2015 | – | ||||
Total | $ | 104 | |||
Income_taxes_Tables
Income taxes (Tables) | 12 Months Ended | ||||||||||
Dec. 31, 2013 | |||||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||||
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | ' | ||||||||||
Significant components of deferred tax assets were as follows as of December 31: | |||||||||||
Year ended December 31, | |||||||||||
2013 | 2012 | ||||||||||
U.S. federal tax loss carry–forward | $ | 8,511 | $ | 6,400 | |||||||
U.S. State tax loss carry–forward | 653 | 224 | |||||||||
Foreign tax loss carry–forward | – | 15,552 | |||||||||
U.S. federal capital loss carry–forward | 706 | 706 | |||||||||
U.S. foreign tax credit carry–forward | 248 | – | |||||||||
Equity–based compensation, fixed assets and other | 1,446 | 255 | |||||||||
Total deferred tax assets | 11,564 | 23,137 | |||||||||
Less: valuation allowance | -11,564 | -22,917 | |||||||||
Deferred tax liability – warrants | – | -220 | |||||||||
Net deferred tax asset | $ | – | $ | – | |||||||
Summary of Operating Loss Carryforwards [Table Text Block] | ' | ||||||||||
As of December 31, 2013, the Company had the following tax attributes: | |||||||||||
Amount | Begins to expire | ||||||||||
U.S. federal net operating loss carry–forwards | $ | 25,064 | Fiscal 2023 | ||||||||
U.S. State net operating loss carry–forwards | 11,703 | Fiscal 2031 | |||||||||
U.S. federal foreign tax credit carry–forwards | 248 | Fiscal 2025 | |||||||||
U.S. federal capital loss carry–forwards | 2,076 | Fiscal 2015 | |||||||||
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | ' | ||||||||||
The provision for/(benefit from) income tax differs from the amount computed by applying the statutory federal income tax rate to income before the provision for/(benefit from) income taxes. The sources and tax effects of the differences are as follows for the year ended December 31: | |||||||||||
2013 | 2012 | ||||||||||
Expected Federal Tax | 34 | % | 35 | % | |||||||
State Tax (Net of Federal Benefit) | 6.63 | – | |||||||||
Permanent differences | -1.98 | – | |||||||||
Loss of NOL benefit of closed foreign entity | -142.44 | – | |||||||||
Foreign tax credit | 1.6 | – | |||||||||
Other | -1.78 | – | |||||||||
Foreign rate differential | – | 42 | |||||||||
Change in valuation allowance | -103.98 | -7 | |||||||||
Effective rate of income tax | 0 | % | 0 | % | |||||||
Fair_value_of_financial_instru1
Fair value of financial instruments (Tables) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||
Fair Value, Liabilities Measured on Recurring Basis [Table Text Block] | ' | ||||||||||||||||
Financial assets and liabilities measured at fair value on a recurring basis are summarized below and disclosed on the consolidated balance sheets as of December 31, 2013: | |||||||||||||||||
Fair value measurement using | |||||||||||||||||
Carrying value | Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Derivative warrant – liability | $ | – | $ | – | $ | – | $ | – | $ | – | |||||||
Financial assets and liabilities measured at fair value on a recurring basis are summarized below and disclosed on the consolidated balance sheets as of December 31, 2012: | |||||||||||||||||
Fair value measurement using | |||||||||||||||||
Carrying value | Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Derivative warrant – liability | $ | 7,166 | $ | – | $ | – | $ | 7,166 | $ | 7,166 | |||||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] | ' | ||||||||||||||||
The table below provides a summary of the changes in fair value, including net transfers in and/or out, of all financial assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) during the year ending December 31, 2013: | |||||||||||||||||
Fair value measurement | |||||||||||||||||
using level 3 inputs | |||||||||||||||||
Derivatives | Total | ||||||||||||||||
Balance January 1, 2012 | $ | - | $ | - | |||||||||||||
Issuance of warrants to purchase intangible assets | 851 | 851 | |||||||||||||||
Revaluation of warrant liability | 557 | 557 | |||||||||||||||
Issuance of warrants with the issuance of Preferred Series A Convertible stock | 6,731 | 6,731 | |||||||||||||||
Issuance of additional warrants due to anti-dilution provision | 141 | 141 | |||||||||||||||
Transfers in and/or out of Level III | - | - | |||||||||||||||
Balance December 31, 2012 | $ | 7,166 | $ | 7,166 | |||||||||||||
Total (gains) or losses (realized/unrealized) included in consolidated statements of operations | 2,204 | 2,204 | |||||||||||||||
Purchases, issuances and settlements | - | - | |||||||||||||||
Reclassification of derivative liabilities to equity upon modification of terms (Note 6) | -9,370 | -9,370 | |||||||||||||||
Balance, December 31, 2013 | $ | - | $ | – | |||||||||||||
Accrued_expenses_Tables
Accrued expenses (Tables) | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Payables and Accruals [Abstract] | ' | |||||||
Schedule of Accrued Liabilities [Table Text Block] | ' | |||||||
2013 | 2012 | |||||||
Professional fees | $ | 66 | $ | 200 | ||||
Vendors | – | – | ||||||
Non-executive directors’ fees | 23 | 54 | ||||||
Other | 5 | 18 | ||||||
Total | $ | 94 | $ | 272 | ||||
Organization_basis_of_presenta1
Organization, basis of presentation and liquidity (Details Textual) (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Line Items] | ' | ' |
Accumulated deficit | ($293,833,000) | ($283,631,000) |
Restricted cash | 4,782,000 | ' |
Sale Of Stock Offering Price | 8,500,000 | ' |
Manager fee percentage on gross sales price | 3.00% | ' |
Mgt Gaming [Member] | ' | ' |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Line Items] | ' | ' |
Restricted cash | 6,000 | ' |
FanTD [Member] | ' | ' |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Line Items] | ' | ' |
Restricted cash | $271,000 | ' |
Summary_of_significant_account2
Summary of significant accounting policies (Details Textual) (USD $) | 1 Months Ended | 12 Months Ended | |||||
In Thousands, except Share data, unless otherwise specified | Jan. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Jun. 30, 2013 | 3-May-13 | Apr. 30, 2013 | Oct. 31, 2012 |
Summary Of Significant Accounting Policies [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Proceeds from issuance of convertible notes payable | $3,500 | $0 | $3,500 | ' | ' | ' | ' |
Effective rate of income tax | ' | 0.00% | 0.00% | ' | ' | ' | ' |
Convertible Preferred Stock, Shares Issued upon Conversion (in shares) | ' | 9,413 | 1,394,766 | ' | 100,000 | 1,123,809 | ' |
Warrants Antidilutive | ' | 920,825 | 4,038,753 | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number | ' | 52,677 | 314,669 | ' | ' | ' | ' |
Cash Equivalents, at Carrying Value | ' | 4,642 | 3,443 | ' | ' | ' | ' |
Restricted Cash and Cash Equivalents | ' | 140 | 2,039 | ' | ' | ' | ' |
Cash Balance Covered Under US Federal Depository Insurance Corporation | ' | 3,590 | ' | ' | ' | ' | ' |
Escrow Deposit | ' | 99 | ' | 99 | ' | ' | ' |
Rental Deposit | ' | 39 | 39 | ' | ' | ' | ' |
Security Deposit | ' | 2 | ' | ' | ' | ' | ' |
Preferred Stock outstanding Upper Limit | ' | ' | ' | ' | ' | ' | 345,012 |
Amount released out of restricted cash | ' | ' | ' | ' | ' | ' | 2,000 |
Virtual currency liability, Terms of Repayment | ' | 'once the users virtual currency balance exceeds a certain minimum threshold; a virtual currency balance of $10.00 or $20.00 based upon initial date of enrollment on the site. | ' | ' | ' | ' | ' |
Virtual currency liability | ' | 10 | ' | ' | ' | ' | ' |
Advertising Expense | ' | 70 | 0 | ' | ' | ' | ' |
Property, Plant and Equipment, Estimated Useful Lives | ' | '100 | ' | ' | ' | ' | ' |
Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance One | ' | 100.00% | ' | ' | ' | ' | ' |
Series A Convertible Preferred Stock [Member] | ' | ' | ' | ' | ' | ' | ' |
Summary Of Significant Accounting Policies [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Restricted Cash and Cash Equivalents | ' | ' | $2,000 | ' | ' | ' | ' |
Asset_purchases_and_acquisitio2
Asset purchases and acquisitions of businesses (Details) (Digital Angel [Member], USD $) | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |
Business Acquisition [Line Items] | ' |
Net assets acquired | $339 |
Trademarks [Member] | ' |
Business Acquisition [Line Items] | ' |
Net assets acquired | 6 |
Software and hardware [Member] | ' |
Business Acquisition [Line Items] | ' |
Net assets acquired | 28 |
Intangible Mobile Gaming [Member] | ' |
Business Acquisition [Line Items] | ' |
Net assets acquired | $305 |
Asset_purchases_and_acquisitio3
Asset purchases and acquisitions of businesses (Details 1) (USD $) | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |
FanTD [Member] | ' |
Purchase consideration: | ' |
Common Stock consideration | $3,018 |
Cash consideration | 202 |
Aggregate purchase consideration | 3,220 |
Fair Value Of Noncontrolling Interest | 1,882 |
Aggregate fair value of enterprise | 5,102 |
Purchase price allocation: | ' |
Net liabilities assumed | -69 |
Property and equipment | 4 |
Net liabilities assumed assets | -65 |
Aggregate fair value of purchase consideration, non-controlling interest and net liabilities assumed allocated to intangible assets as follows: | ' |
Total purchase price allocation | 5,102 |
Avcom, Inc [Member] | ' |
Purchase consideration: | ' |
Common Stock consideration | 1,552 |
Cash consideration | 10 |
Aggregate fair value of enterprise | 1,562 |
Purchase price allocation: | ' |
Net liabilities assumed | -6 |
Property and equipment | 7 |
Aggregate fair value of purchase consideration, non-controlling interest and net liabilities assumed allocated to intangible assets as follows: | ' |
Intangible assets and Goodwill | 1,562 |
Total purchase price allocation | 1,496 |
Software Development [Member] | FanTD [Member] | ' |
Aggregate fair value of purchase consideration, non-controlling interest and net liabilities assumed allocated to intangible assets as follows: | ' |
Intangible assets and Goodwill | 186 |
Customer Lists [Member] | FanTD [Member] | ' |
Aggregate fair value of purchase consideration, non-controlling interest and net liabilities assumed allocated to intangible assets as follows: | ' |
Intangible assets and Goodwill | 33 |
Patents [Member] | Avcom, Inc [Member] | ' |
Aggregate fair value of purchase consideration, non-controlling interest and net liabilities assumed allocated to intangible assets as follows: | ' |
Intangible assets and Goodwill | 15 |
Goodwill [Member] | FanTD [Member] | ' |
Aggregate fair value of purchase consideration, non-controlling interest and net liabilities assumed allocated to intangible assets as follows: | ' |
Total purchase price allocation | 4,948 |
Website [Member] | Avcom, Inc [Member] | ' |
Aggregate fair value of purchase consideration, non-controlling interest and net liabilities assumed allocated to intangible assets as follows: | ' |
Intangible assets and Goodwill | $50 |
Asset_purchases_and_acquisitio4
Asset purchases and acquisitions of businesses (Details 2) (USD $) | 12 Months Ended | |
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Mgt [Member] | ' | ' |
Business Acquisition [Line Items] | ' | ' |
Revenues | $396 | $409 |
Net loss | -10,202 | -3,604 |
Loss per share of Common Stock (in dollars per share) | ($1.84) | ($2.62) |
Basic and diluted (in shares) | 5,590,618 | 2,245,465 |
FanTD [Member] | ' | ' |
Business Acquisition [Line Items] | ' | ' |
Revenues | 62 | 3 |
Net loss | -336 | -167 |
Loss per share of Common Stock (in dollars per share) | $0 | $0 |
Basic and diluted (in shares) | 0 | 0 |
Avcom, Inc [Member] | ' | ' |
Business Acquisition [Line Items] | ' | ' |
Revenues | 110 | 214 |
Net loss | 125 | -289 |
Loss per share of Common Stock (in dollars per share) | $0 | $0 |
Basic and diluted (in shares) | 0 | 0 |
Pro Forma [Member] | ' | ' |
Business Acquisition [Line Items] | ' | ' |
Revenues | 568 | 626 |
Net loss | ($10,538) | ($4,060) |
Loss per share of Common Stock (in dollars per share) | ($1.82) | ($1.45) |
Basic and diluted (in shares) | 5,801,068 | 2,806,974 |
Asset_purchases_and_acquisitio5
Asset purchases and acquisitions of businesses (Details Textual) | 1 Months Ended | 12 Months Ended | 1 Months Ended | 1 Months Ended | 1 Months Ended | 1 Months Ended | 12 Months Ended | 12 Months Ended | 1 Months Ended | ||||||||||||
Sep. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Mar. 26, 2012 | Nov. 30, 2013 | 2-May-13 | 20-May-13 | 31-May-13 | Dec. 31, 2013 | Jun. 25, 2013 | Jul. 23, 2013 | Sep. 30, 2013 | Sep. 03, 2013 | Sep. 04, 2013 | Sep. 30, 2013 | Dec. 31, 2013 | Sep. 03, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Nov. 30, 2013 | Nov. 26, 2013 | |
USD ($) | USD ($) | USD ($) | GBP (£) | Common Class A [Member] | Digital Angel Corporation [Member] | FanTD LLC [Member] | FanTD LLC [Member] | FanTD LLC [Member] | Fantasy Sports Live [Member] | Daily Joust, Inc [Member] | MGT Interactive [Member] | MGT Interactive [Member] | MGT Interactive [Member] | Gioia Systems, LLC [Member] | Gioia Systems, LLC [Member] | Gioia Systems, LLC [Member] | Avcom [Member] | Avcom [Member] | Avcom [Member] | Avcom [Member] | |
USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | Deferred Bonus [Member] | Preferred Class A [Member] | Preferred Class A [Member] | |||||||
USD ($) | USD ($) | ||||||||||||||||||||
Business Acquisition [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business Acquisition, Percentage of Voting Interests Acquired | ' | ' | ' | ' | ' | ' | 63.00% | 63.12% | ' | ' | ' | ' | 51.00% | ' | ' | ' | 49.00% | ' | ' | ' | 100.00% |
Business Acquisition Aggregate Purchase Consideration | ' | ' | ' | ' | ' | ' | $3,220,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common Stock, Shares, Issued | ' | 8,848,686 | 3,251,187 | ' | ' | ' | 600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 491,035 | ' | ' | ' |
Business Acquisition Fair Value Of CommonStock | ' | ' | ' | ' | ' | ' | $5.03 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Payments to Acquire Businesses, Gross | ' | ' | ' | ' | ' | 202,000 | 3,018,000 | 503,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash Payment | ' | ' | ' | ' | ' | ' | 202,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Noncontrolling Interest, Ownership Percentage by Parent | ' | ' | ' | ' | ' | ' | 37.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fair Value Of Noncontrolling Interest | ' | ' | ' | ' | ' | ' | 1,882,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock Issued During Period, Shares, Restricted Stock Award, Gross | ' | ' | ' | ' | ' | 50,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Payments to Acquire Intangible Assets | ' | 90,000 | 0 | ' | ' | 136,000 | ' | ' | ' | 30,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Customer Deposits, Current | ' | ' | ' | ' | ' | ' | ' | ' | ' | 46,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business Acquisition Purchase Price Allocation Of Current Assets Cash And Cash Equivalents | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 50,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business Acquisition Purchase Price Allocation Customer Deposits | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 136,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business Acquisition Purchase Price Allocation Customer Liability | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 136,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Equity Method Investment, Ownership Percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 51.00% | ' | ' | ' | 49.00% | ' | ' | ' | ' |
Proceeds from Partnership Contribution | 200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 200,000 | 200,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Business Combination, Consideration Transferred, Total | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 300,000 | ' | ' | 500,000 | ' | ' | ' | ' | ' | ' |
Equity Method Investment Additional Ownership Percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 14.00% | ' | ' | 14.00% | ' | ' | ' | ' |
Consulting Agreement Consulting Fee | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10,000 | ' | ' | ' | ' | ' | ' |
Consulting Agreement Consulting Fee Paid In Cash | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5,000 | ' | ' | ' | ' | ' | ' |
Consulting Agreement Consulting Fee Deferred Payment | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5,000 | ' | ' | ' | ' | ' | ' |
Consulting Agreement Consulting Expense | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 179,000 | ' | ' | ' | ' | ' |
Stock Issued During Period, Value, Acquisitions | ' | 202,000 | ' | ' | 1,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 550,000 | ' |
Business Combination, Contingent Consideration, Liability | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,000,000 | ' | ' | ' |
Business Combination Contingent Consideration Shares | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 333,000 | ' | ' | ' |
Business Combination, Contingent Consideration Arrangements, Description | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 'the game reaches $3.0 million in gross revenues within 18 months of signing the Agreement | ' | ' | ' |
Payments for services received | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 146,000 | ' | ' | ' |
Deferred Compensation Arrangement with Individual, Maximum Contractual Term | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '2 Years | ' | ' | ' |
Deferred Compensation Arrangement with Individual, Cash Award Granted, Amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 75,000 | ' | ' | ' |
Deferred Compensation Arrangement with Individual, Compensation Expense | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $190,000 | ' | ' |
Deferred Compensation Arrangement with Individual, Description | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 'once the Company generates cash revenues in excess of $200 from its product, SlotChamp, net of app store fees. | ' | ' | ' |
Common Stock, Par or Stated Value Per Share | ' | $0.00 | $0.00 | £ 16,250 | ' | ' | ' | ' | $5.03 | ' | ' | ' | ' | ' | ' | ' | ' | $3.16 | ' | ' | ' |
Goodwill_and_intangible_assets2
Goodwill and intangible assets (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Goodwill [Line Items] | ' | ' |
Balance, December 31, 2012 | $0 | ' |
Acquisitions (Note 3) | 6,444 | 0 |
Balance, December 31, 2013 | $6,444 | $0 |
Goodwill_and_intangible_assets3
Goodwill and intangible assets (Details 1) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Less: Accumulated amortization | ($486) | ($118) |
Intangible assets, net | 2,423 | 1,795 |
Trademarks [Member] | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Finite-Lived Intangible Asset, Useful Life | '3 years | ' |
Finite-Lived Intangible Assets, Gross | 7 | 0 |
Intangible assets, net | 7 | ' |
Intellectual Property [Member] | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Finite-Lived Intangible Asset, Useful Life | '6 years | ' |
Finite-Lived Intangible Assets, Gross | 2,468 | 1,913 |
Intangible assets, net | 2,061 | ' |
Software And Website Development [Member] | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Finite-Lived Intangible Asset, Useful Life | '2 years | ' |
Finite-Lived Intangible Assets, Gross | 275 | 0 |
Intangible assets, net | 218 | ' |
Customer Lists [Member] | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Finite-Lived Intangible Asset, Useful Life | '4 years | ' |
Finite-Lived Intangible Assets, Gross | 159 | 0 |
Intangible assets, net | $137 | ' |
Goodwill_and_intangible_assets4
Goodwill and intangible assets (Details 2) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Finite-Lived Intangible Assets, Future Amortization Expense [Line Items] | ' | ' |
2014 | $489 | ' |
2015 | 489 | ' |
2016 | 456 | ' |
2017 | 380 | ' |
2018 | 363 | ' |
Thereafter | 246 | ' |
Total | 2,423 | 1,795 |
Trademarks [Member] | ' | ' |
Finite-Lived Intangible Assets, Future Amortization Expense [Line Items] | ' | ' |
2014 | 3 | ' |
2015 | 3 | ' |
2016 | 1 | ' |
2017 | 0 | ' |
2018 | 0 | ' |
Thereafter | 0 | ' |
Total | 7 | ' |
Intellectual Property [Member] | ' | ' |
Finite-Lived Intangible Assets, Future Amortization Expense [Line Items] | ' | ' |
2014 | 363 | ' |
2015 | 363 | ' |
2016 | 363 | ' |
2017 | 363 | ' |
2018 | 363 | ' |
Thereafter | 246 | ' |
Total | 2,061 | ' |
Software And Website Development [Member] | ' | ' |
Finite-Lived Intangible Assets, Future Amortization Expense [Line Items] | ' | ' |
2014 | 83 | ' |
2015 | 83 | ' |
2016 | 52 | ' |
2017 | 0 | ' |
2018 | 0 | ' |
Thereafter | 0 | ' |
Total | 218 | ' |
Customer Lists [Member] | ' | ' |
Finite-Lived Intangible Assets, Future Amortization Expense [Line Items] | ' | ' |
2014 | 40 | ' |
2015 | 40 | ' |
2016 | 40 | ' |
2017 | 17 | ' |
2018 | 0 | ' |
Thereafter | 0 | ' |
Total | $137 | ' |
Goodwill_and_intangible_assets5
Goodwill and intangible assets (Details Textual) (USD $) | 1 Months Ended | 12 Months Ended | ||||
In Thousands, except Share data, unless otherwise specified | Jun. 30, 2013 | 20-May-13 | Dec. 31, 2013 | Dec. 31, 2012 | Apr. 26, 2013 | Nov. 02, 2012 |
Goodwill And Intangible Assets Disclosure [Line Items] | ' | ' | ' | ' | ' | ' |
Finite Lived Intangible Asset Acquired Cash Paid | ' | ' | $200 | ' | ' | ' |
Intangible Assets Consideration Paid | ' | 25 | ' | ' | ' | ' |
Amortization Of Intangible Assets | ' | ' | 368 | 118 | ' | ' |
Finite-lived Intangible Assets, Fair Value Disclosure | ' | ' | 1,913 | ' | ' | ' |
Warrant Term | ' | ' | '4 years | '5 years | ' | ' |
Stock Issued During Period Shares Purchase Of Warrants | ' | ' | 350,000 | ' | ' | ' |
Class Of Warrant Or Right, Exercise Price Of Warrants Or Rights | ' | ' | 4 | ' | 3.85 | 3.85 |
Class of Warrant or Right, Outstanding | ' | 403,029 | ' | ' | ' | ' |
Adjustments To Additional Paid In Capital Reclassification Of Warrants Into Equity | ' | 1,164 | 1,164 | ' | ' | ' |
Warrants and Rights Outstanding | ' | 1,164 | ' | ' | ' | ' |
Gain Loss On Mark To Market Of Intangible Assets | ' | ' | 363 | 557 | ' | ' |
Gross Proceeds From Sale Of Medical Patents | 1,500 | ' | ' | ' | ' | ' |
Foreign Withholding Tax Amount | 248 | ' | ' | ' | ' | ' |
Escrow Agent Fee | 1 | ' | ' | ' | ' | ' |
Net Proceeds From Sale Of Medical Patents | 750 | ' | ' | ' | ' | ' |
Cash Received On Sale Of Patent | 651 | ' | ' | ' | ' | ' |
Escrow Deposit | 99 | ' | 99 | ' | ' | ' |
Mgt Gaming [Member] | ' | ' | ' | ' | ' | ' |
Goodwill And Intangible Assets Disclosure [Line Items] | ' | ' | ' | ' | ' | ' |
Sale Agreement Description | ' | ' | '(i) J&S sold certain patents to MGT Gaming in exchange for 1,000 shares (constituting 100% ownership) of MGT Gaming Common stock, par value $0.001 | ' | ' | ' |
Munich Innovation Group GmbH [Member] | ' | ' | ' | ' | ' | ' |
Goodwill And Intangible Assets Disclosure [Line Items] | ' | ' | ' | ' | ' | ' |
Commission Paid | $501 | ' | ' | ' | ' | ' |
Property_and_equipment_Details
Property and equipment (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Property, Plant and Equipment [Line Items] | ' | ' |
Property, Plant and Equipment, Gross | $164 | $113 |
Less: Accumulated depreciation | -119 | -88 |
Total | 45 | 25 |
Computer Equipment [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property, Plant and Equipment, Gross | 152 | 101 |
Furniture and Fixtures [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property, Plant and Equipment, Gross | $12 | $12 |
Property_and_equipment_Details1
Property and equipment (Details Textual) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Property, Plant and Equipment [Line Items] | ' | ' |
Depreciation | $31 | $28 |
Series_A_Convertible_Preferred1
Series A Convertible Preferred Stock (Details Textual) (USD $) | 1 Months Ended | 12 Months Ended | 1 Months Ended | 1 Months Ended | 12 Months Ended | 1 Months Ended | 1 Months Ended | 12 Months Ended | ||||||||||||||||||
20-May-13 | 31-May-13 | Apr. 30, 2013 | Oct. 29, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | 3-May-13 | Apr. 26, 2013 | Nov. 02, 2012 | Oct. 31, 2012 | Apr. 30, 2013 | Apr. 26, 2013 | Apr. 30, 2013 | Apr. 26, 2013 | Dec. 31, 2013 | 20-May-13 | Nov. 30, 2012 | Dec. 31, 2013 | Oct. 31, 2013 | Mar. 31, 2013 | Feb. 28, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Apr. 26, 2013 | Nov. 30, 2012 | Nov. 02, 2012 | |
Maximum [Member] | Maximum [Member] | Minimum [Member] | Minimum [Member] | Warrant Waiver Agreements [Member] | Warrant Waiver Agreements [Member] | Mgt [Member] | Cash Maintenance [Member] | Series A Convertible Preferred Stock [Member] | Series A Convertible Preferred Stock [Member] | Series A Convertible Preferred Stock [Member] | Series A Convertible Preferred Stock [Member] | Series A Convertible Preferred Stock [Member] | Series A Convertible Preferred Stock [Member] | Series A Convertible Preferred Stock [Member] | Series A Convertible Preferred Stock [Member] | |||||||||||
Preferred Stock [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds from Issuance of Private Placement | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $4,500,000 | ' | ' | ' |
Preferred stock, shares outstanding | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 345,092 | ' | ' | ' | 9,413 | 1,394,766 | ' | ' | 1,380,362 |
Issuance Of Warrants To Purchase Of Common Stock | ' | 200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 400,000 | ' | ' | ' | ' | ' | 2,760,724 | ' | ' | ' |
Preferred Stock, Dividend Rate, Percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6.00% | 6.00% | ' | ' | ' |
Warrants Term | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 'five-year | ' | ' | ' |
Class of Warrant or Right, Exercise Price of Warrants or Rights | ' | ' | ' | ' | 4 | ' | ' | 3.85 | 3.85 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3.85 | ' | ' |
Cash | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,000,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Preferred Stock Convertible Conversion Price | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $3.26 | ' | ' | ' | $3.26 |
Preferred Stock Dividends, Shares | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 21,394 | 14,404 | ' | ' | ' |
Fair Value Assumptions, Risk Free Interest Rate | 0.85% | ' | ' | 0.76% | ' | 0.76% | ' | ' | ' | ' | 0.85% | ' | 0.68% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fair Value Assumptions, Expected Volatility Rate | 75.00% | ' | 75.00% | 75.00% | ' | 75.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fair Value Assumptions, Exercise Price | $3.85 | ' | ' | $3.85 | ' | $3.85 | ' | $3.85 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share Price | $5.03 | ' | ' | $3.98 | ' | $3.86 | ' | ' | ' | ' | ' | $4.27 | ' | $3.90 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fair Value Assumptions, Expected Term | '4 years 5 months 8 days | ' | '4 years 5 months 8 days | '5 years | ' | '5 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Convertible Preferred Stock, Shares Issued upon Conversion (in shares) | ' | ' | 1,123,809 | ' | 9,413 | 1,394,766 | 100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 30,000 | 241,748 | ' | ' | ' | 100,000 | ' |
Stock Issued During Period, Shares, Conversion of Convertible Securities | ' | ' | 1,125,763 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 30,000 | 241,748 | ' | ' | ' | ' | ' |
Payments of Stock Issuance Costs | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 88,000 | ' | ' | ' |
Preferred Stock Shares Of Accrued Interest | ' | ' | 1,954 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fair Value Of Warrants | ' | ' | ' | 6,731,000 | ' | 6,364,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Gain On Change In Fair Value Of Derivative Liability | ' | ' | ' | ' | ' | 365,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Conversion of Stock, Shares Converted | ' | ' | ' | ' | 1,406,747 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Conversion of Stock, Shares Issued | ' | ' | ' | ' | 1,406,747 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Warrants Exercised By Holders | ' | ' | 715,742 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Derivative Liability, Fair Value, Gross Liability | ' | ' | ' | ' | 0 | 7,166,000 | ' | 1,680,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Warrants Trigger Modification Percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 60.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common Stock Issued For Consideration | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 162,460 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Class of Warrant or Right, Outstanding | 403,029 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,044,982 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock Issued During Period, Value, Restricted Stock Award, Gross | ' | ' | ' | ' | ' | 721,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 598,000 | ' | ' | ' | ' | ' | ' | ' |
Warrants and Rights Outstanding | 1,164,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6,525,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Gain Loss On Mark To Market Of Intangible Assets | ' | ' | ' | ' | $363,000 | $557,000 | ' | ' | ' | ' | ' | ' | ' | ' | $1,811,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash Maintenance Provision Limit On Shares | ' | ' | ' | ' | ' | ' | ' | ' | ' | 345,012 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common_Stock_Details_Textual
Common Stock (Details Textual) | 12 Months Ended | 1 Months Ended | |||
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Mar. 26, 2012 | Nov. 30, 2012 | Nov. 02, 2012 |
USD ($) | USD ($) | GBP (£) | Common Stock [Member] | Common Stock [Member] | |
USD ($) | USD ($) | ||||
Stockholders Equity Note [Line Items] | ' | ' | ' | ' | ' |
Proceeds From Issuance Of Common Stock | $100 | $0 | ' | $1,364 | ' |
Common Stock, Shares, Issued | 8,848,686 | 3,251,187 | ' | ' | 453,000 |
Common Stock, Par Or Stated Value Per Share | $0.00 | $0.00 | £ 16,250 | ' | $3.01 |
Common Stock Issuance Costs | ' | $48 | ' | $48 | ' |
Stock_incentive_plan_and_stock2
Stock incentive plan and stock-based compensation (Details) (USD $) | 1 Months Ended | 12 Months Ended | ||
Sep. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | |
Restricted Stock [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Number of shares - Non-vested at December 31, 2012 | ' | 52,677 | 314,669 | 314,667 |
Number of shares - Granted | 6,000 | ' | ' | 6,000 |
Number of shares - Vested | ' | ' | ' | -264,000 |
Number of shares - Forfeited | ' | ' | ' | -4,000 |
Number of shares - Non-vested at December 31, 2013 | ' | 52,677 | 314,669 | 52,667 |
Weighted average grant date fair value - Non-vested at December 31, 2012 | ' | ' | ' | $5.20 |
Weighted average grant date fair value - Granted | ' | ' | ' | $3.68 |
Weighted average grant date fair value - Vested | ' | ' | ' | $4.56 |
Weighted average grant date fair value - Forfeited | ' | ' | ' | $4.62 |
Weighted average grant date fair value - Non-vested at December 31, 2013 | ' | ' | ' | $4.56 |
Stock_incentive_plan_and_stock3
Stock incentive plan and stock-based compensation (Details 1) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' |
Stock-based compensation expense | $2,965 | $753 |
Selling, General and Administrative Expenses [Member] | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' |
Stock-based compensation expense | 1,357 | 746 |
Research and Development Expense [Member] | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' |
Stock-based compensation expense | $0 | $7 |
Stock_incentive_plan_and_stock4
Stock incentive plan and stock-based compensation (Details 2) (Warrant [Member], USD $) | 1 Months Ended | 12 Months Ended |
Apr. 30, 2013 | Dec. 31, 2013 | |
Warrant [Member] | ' | ' |
Class of Warrant or Right [Line Items] | ' | ' |
Number of warrants - Warrants outstanding at December 31, 2012 | ' | 4,038,753 |
Number of warrants - Issued | ' | 0 |
Number of warrants - Exercised | 715,742 | -3,117,928 |
Number of warrants - Expired | ' | 0 |
Number of warrants - Warrants outstanding at December 31, 2013 | ' | 920,825 |
Weighted average exercise price - Warrants outstanding at December 31, 2012 | ' | $3.68 |
Weighted average exercise price - Issued | ' | $0 |
Weighted average exercise price - Exercised | ' | $3.75 |
Weighted average exercise price - Expired | ' | $0 |
Weighted average exercise price - Warrants outstanding at December 31, 2013 | ' | $3.44 |
Stock_incentive_plan_and_stock5
Stock incentive plan and stock-based compensation (Details Textual) | 1 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | 1 Months Ended | 1 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | 1 Months Ended | |||||||||||||
In Thousands, except Share data, unless otherwise specified | Nov. 30, 2013 | Sep. 30, 2013 | Aug. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Apr. 26, 2013 | Nov. 02, 2012 | Mar. 26, 2012 | Nov. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Apr. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Sep. 27, 2013 | Sep. 30, 2013 | Sep. 27, 2013 | Dec. 31, 2013 | Mar. 26, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Mar. 26, 2012 | Dec. 31, 2012 | 20-May-13 | 31-May-13 | Dec. 31, 2013 |
USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | GBP (£) | Subsequent Event [Member] | Noncontrolling Interest [Member] | Noncontrolling Interest [Member] | Warrant [Member] | Warrant [Member] | Warrant [Member] | Warrant Modification Agreement [Member] | Stock Incentive Plan 2012 [Member] | Amended And Restated Plan [Member] | Amended And Restated Plan [Member] | Restricted Stock [Member] | Restricted Stock [Member] | Non Employee [Member] | Medicsights Ltd [Member] | Medicsights Ltd [Member] | Medicsights Ltd [Member] | FanTD LLC [Member] | FanTD LLC [Member] | FanTD LLC [Member] | |||
USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | Subsequent Event [Member] | USD ($) | GBP (£) | USD ($) | USD ($) | USD ($) | USD ($) | |||||||||||||||
USD ($) | |||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Exercisable Options, Weighted Average Remaining Contractual Term | ' | ' | ' | '5 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock-based compensation expense | ' | ' | ' | $2,965 | $753 | ' | ' | ' | ' | $0 | $15 | ' | ' | ' | ' | ' | ' | ' | ' | ' | $911 | ' | ' | $32 | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | ' | ' | ' | 415,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,335,000 | ' | 415,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage Of Stockholder Incentive Stock Option Granted On Date Of Grant | ' | ' | ' | 10.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized | ' | ' | ' | 187 | 1,534 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term | ' | ' | ' | '5 months 23 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stockholders Equity, Reverse Stock Split | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '1 for 25 | '1 for 325,000 | ' | ' | ' | ' |
Common stock, par value (in dollars per share) | ' | ' | ' | $0.00 | $0.00 | ' | ' | £ 16,250 | ' | ' | ' | ' | ' | ' | $0.00 | ' | ' | ' | ' | ' | ' | ' | £ 0.05 | ' | ' | ' | $5.03 |
Number Of Shares Cancelled Result Of Reverse Stock Split | ' | ' | ' | ' | ' | ' | ' | 325,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 325,000 | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Additional Shares Authorized | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 920,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-Based Compensation Arrangement By Share-Based Payment Award, Equity Instruments Other Than Options, Grants In Period | ' | 6,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6,000 | 46,000 | ' | ' | ' | ' | ' | ' | ' |
Stock Issued During Period Shares For Consulting And Marketing Agreement | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100,000 | ' |
Business Acquisition, Percentage of Voting Interests Acquired | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 63.00% | 63.12% | ' |
Payments to Acquire Businesses, Gross | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,018 | 503 | ' |
Issuance Of Fair Market Value Over Vesting Period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 20,000 | ' | ' | ' | ' | ' | ' |
Stock Issued For Services In Connection With Issuance Of Convertible Note (In Shares) | ' | 16,611 | 30,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock Issued During Period, Value, Issued For Services | ' | 72 | 6 | 1,709 | 315 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested in Period, Fair Value | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 66 | ' | ' | ' | ' | ' | ' |
Common Stock, Shares, Issued | ' | ' | ' | 8,848,686 | 3,251,187 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 270,000 | ' | 478 | ' | 600,000 | ' | ' |
Common Stock, Value, Issued | ' | ' | ' | 9 | 3 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,011 | ' | ' | ' | ' | ' | ' |
Common Stock Purchase Warrant Exercised | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 357,204 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common Stock Purchase Warrant Exercise Price | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $3 | $1.50 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Conversion Of Warrants To Cashless Shares | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 210,529 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Conversion Of Warrants Exercised | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 146,675 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance Of Common Stock For Cancellation Of Warrants | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,431,486 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Maximum Number Of Warrants Allowed | ' | ' | ' | 1,431,486 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Exchange Of Warrant Into Common Stock | ' | ' | ' | 894,683 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Class Of Warrant Or Right, Exercise Price Of Warrants Or Rights | ' | ' | ' | 4 | ' | 3.85 | 3.85 | ' | ' | ' | ' | ' | ' | ' | 3.85 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share Based Compensation Arrangement By Share Based Payment Award Warrants Exercised | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 715,742 | -3,117,928 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds from Warrant Exercises | ' | ' | ' | 3,197 | 0 | ' | ' | ' | ' | ' | ' | ' | 2,757 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Conversion Of Warrants To Common Stock Value | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 440 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock Issued During Period, Shares, New Issues | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 894,683 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock Issued During Period, Value, Restricted Stock Award, Gross | ' | ' | ' | ' | 721 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 91 | ' | ' | ' | ' | ' | ' | ' |
Warrants To Purchase Common Stock, Shares | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 613,496 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds From Issuance Of Warrants Gross | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 920 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common Stock Purchase Warrant Reduced Exercise Price | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $1.50 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Minimum Sale Price For Warrants | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $2.50 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Placement Fee For Solicitation Of Exercise Of Warrants, Percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 8.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Placement Fee For Solicitation Of Exercise Of Warrants, Amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 73 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Legal Fees Reimbursed | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 9 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds from Issuance of Warrants | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 838 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash Consideration Payable upon execution of Consulting Agreement | 20 | ' | ' | ' | ' | ' | ' | ' | 25 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common Stock issuable upon execution of Consulting Agreement | 10,000 | ' | ' | ' | ' | ' | ' | ' | 10,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock Issuance Costs | ' | ' | ' | 57 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common Stock Shares Issued Upon Execution Of Consulting Agreement | ' | ' | ' | 20,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds from Issuance of Common Stock | ' | ' | ' | $100 | $0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $100 | ' | ' | ' | ' | ' | ' |
Common Stock Issued Upon Warrant Exercise | ' | ' | ' | 236,730 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Noncontrolling_interest_Detail
Non-controlling interest (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Noncontrolling Interest [Line Items] | ' | ' |
Non-controlling interest at January 1, 2013 | $768 | ' |
Purchase of FanTD | 1,882 | ' |
Investment in MGT Interactive | 191 | ' |
Non-controlling share of net losses | -734 | -1,121 |
Non-controlling interest at December 31, 2013 | 2,107 | 768 |
Mgt Gaming [Member] | ' | ' |
Noncontrolling Interest [Line Items] | ' | ' |
Non-controlling interest at January 1, 2013 | 768 | ' |
Purchase of FanTD | 0 | ' |
Investment in MGT Interactive | 0 | ' |
Non-controlling share of net losses | -183 | ' |
Non-controlling interest at December 31, 2013 | 585 | ' |
FanTD LLC [Member] | ' | ' |
Noncontrolling Interest [Line Items] | ' | ' |
Non-controlling interest at January 1, 2013 | 0 | ' |
Purchase of FanTD | 1,882 | ' |
Investment in MGT Interactive | 0 | ' |
Non-controlling share of net losses | -451 | ' |
Non-controlling interest at December 31, 2013 | 1,431 | ' |
MGT Interactive [Member] | ' | ' |
Noncontrolling Interest [Line Items] | ' | ' |
Non-controlling interest at January 1, 2013 | 0 | ' |
Purchase of FanTD | 0 | ' |
Investment in MGT Interactive | 191 | ' |
Non-controlling share of net losses | -95 | ' |
Non-controlling interest at December 31, 2013 | 96 | ' |
M2P Americas [Member] | ' | ' |
Noncontrolling Interest [Line Items] | ' | ' |
Non-controlling interest at January 1, 2013 | 0 | ' |
Purchase of FanTD | 0 | ' |
Investment in MGT Interactive | 0 | ' |
Non-controlling share of net losses | -5 | ' |
Non-controlling interest at December 31, 2013 | ($5) | ' |
Noncontrolling_interest_Detail1
Non-controlling interest (Details Textual) | 1 Months Ended | 12 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | 12 Months Ended | ||||||||||||||
In Thousands, except Share data, unless otherwise specified | Sep. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Mar. 26, 2012 | Dec. 31, 2012 | 20-May-13 | 31-May-13 | Dec. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 03, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 04, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Mar. 26, 2012 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 06, 2012 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Sep. 03, 2013 | Dec. 04, 2013 |
USD ($) | USD ($) | USD ($) | GBP (£) | Common Stock [Member] | FanTD LLC [Member] | FanTD LLC [Member] | FanTD LLC [Member] | FanTD LLC [Member] | MGT Interactive [Member] | MGT Interactive [Member] | MGT Interactive [Member] | MGT Interactive [Member] | M2P Americas [Member] | M2P Americas [Member] | M2P Americas [Member] | Medicsights Ltd [Member] | Medicsights Ltd [Member] | Medicsights Ltd [Member] | Medicsights Ltd [Member] | Medicsights Ltd [Member] | Medicsights Ltd [Member] | Mgt Gaming [Member] | Mgt Gaming [Member] | Gioia Systems, LLC [Member] | M2P Entertainment [Member] | |
USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | GBP (£) | USD ($) | USD ($) | Common Stock [Member] | USD ($) | USD ($) | ||||||||||
Noncontrolling Interest [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business Acquisition, Percentage of Voting Interests Acquired | ' | ' | ' | ' | ' | 63.00% | 63.12% | ' | ' | ' | 51.00% | ' | ' | 50.10% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 49.00% | 49.90% |
Business Acquisition Aggregate Purchase Consideration | ' | ' | ' | ' | ' | $3,220 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common stock, par value (in dollars per share) | ' | $0.00 | $0.00 | £ 16,250 | ' | ' | ' | $5.03 | ' | ' | ' | ' | ' | ' | ' | ' | ' | £ 0.05 | ' | ' | ' | ' | ' | ' | ' | ' |
Business Acquisition Fair Value Of Common Stock | ' | ' | ' | ' | ' | $5.03 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Payments to Acquire Businesses, Gross | ' | ' | ' | ' | ' | 3,018 | 503 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash Payment | ' | ' | ' | ' | ' | 202 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Noncontrolling Interest, Ownership Percentage by Parent | ' | ' | ' | ' | ' | 37.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fair Value Of Noncontrolling Interest | ' | ' | ' | ' | ' | 1,882 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds from Partnership Contribution | 200 | ' | ' | ' | ' | ' | ' | ' | ' | 200 | 200 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage Of Option To Purchase Ownership Interest In Subsidiary | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10.00% |
Business Acquisition Loan Interest Rate Percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Strategic Alliance Agreement Term | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '20 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number Of Shares Purchased | ' | ' | ' | ' | 93 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 160 | ' | 160 | ' | ' | 67 | ' | ' | ' | ' |
Value Of Shares Purchased | ' | ' | ' | ' | 51 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 418 | ' | ' | ' | ' | ' | ' | ' |
Common stock, shares issued | ' | 8,848,686 | 3,251,187 | ' | ' | 600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 478 | ' | ' | ' | ' | ' | ' | ' | ' |
Stockholders' Equity, Reverse Stock Split | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '1 for 25 | '1 for 325,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Cash in lieu of fractional shares for MGT reverse/ forward split (in shares) | ' | ' | ' | ' | -4 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 25 | ' | ' | ' | ' | ' | ' | ' |
Stock Issued During Period Value Reverse Stock Splits | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 16 | ' | ' | ' | ' | ' | ' | ' |
Equity Method Investment, Ownership Percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 51.00% | ' | ' | ' | ' | ' | ' | 66.50% | ' | ' | 100.00% | ' | ' | ' | 49.00% | ' |
Equity Investment Number Of Shares Held | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 318 | ' | ' | ' | ' | ' | ' | ' | ' |
Ordinary Shares Acquired | ' | ' | 93,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number Of Shares Cancelled Result Of Reverse Stock Split | ' | ' | ' | 325,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 325,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Stockholders' Equity Attributable To Noncontrolling Interest | ' | 2,107 | 768 | ' | ' | ' | ' | 1,431 | 0 | ' | ' | 96 | 0 | ' | -5 | 0 | ' | ' | ' | 5,293 | ' | ' | 585 | 768 | ' | ' |
Net Loss Attributable To Non-Controlling Interest | ' | -734 | -1,121 | ' | ' | ' | ' | -451 | ' | ' | ' | -95 | ' | ' | -5 | ' | ' | ' | 1,027 | ' | ' | ' | -183 | ' | ' | ' |
Allocated Share-based Compensation Expense | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 41 | ' | ' | ' | ' | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss), Net Of Tax | ' | -281 | -281 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 41 | ' | ' | ' | ' | ' | ' |
Business Acquisition, Equity Interest Issued or Issuable, Value Assigned | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $4,307 | ' | ' | ' | ' | ' | ' |
Segment_reporting_Details
Segment reporting (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Segment Reporting Information [Line Items] | ' | ' | ' |
Revenues | $396 | $409 | ' |
Cost of revenue | -559 | -265 | ' |
Gross margin | -163 | 144 | ' |
Operating profit/(loss ) | -9,512 | -4,490 | ' |
Cash and cash equivalents | 4,642 | 3,443 | 3,704 |
Property and equipment | 45 | 25 | ' |
Intangible assets | 2,423 | 1,795 | ' |
Goodwill | 6,444 | 0 | ' |
Additions: | ' | ' | ' |
Property and equipment | 51 | 17 | ' |
Intangible assets | 1,002 | 1,795 | ' |
Goodwill | 6,444 | 0 | ' |
Intellectual Property [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Revenues | 0 | 0 | ' |
Cost of revenue | 0 | 0 | ' |
Gross margin | 0 | 0 | ' |
Operating profit/(loss ) | -1,195 | -208 | ' |
Cash and cash equivalents | 6 | 49 | ' |
Property and equipment | 0 | 0 | ' |
Intangible assets | 2,007 | 1,795 | ' |
Goodwill | 0 | 0 | ' |
Additions: | ' | ' | ' |
Property and equipment | 0 | 0 | ' |
Intangible assets | 0 | 1,795 | ' |
Goodwill | 0 | 0 | ' |
Medicsights Ltd [Member] | Software and Devices [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Revenues | 78 | 222 | ' |
Cost of revenue | 0 | -92 | ' |
Gross margin | 78 | 130 | ' |
Operating profit/(loss ) | 63 | -1,755 | ' |
Cash and cash equivalents | 0 | 330 | ' |
Property and equipment | 0 | 0 | ' |
Intangible assets | 0 | 0 | ' |
Goodwill | 0 | 0 | ' |
Additions: | ' | ' | ' |
Property and equipment | 0 | 0 | ' |
Intangible assets | 0 | 0 | ' |
Goodwill | 0 | 0 | ' |
Medicsights Ltd [Member] | Services [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Revenues | 97 | 187 | ' |
Cost of revenue | -63 | -173 | ' |
Gross margin | 34 | 14 | ' |
Operating profit/(loss ) | 27 | -11 | ' |
Cash and cash equivalents | 0 | 0 | ' |
Property and equipment | 0 | 0 | ' |
Intangible assets | 0 | 0 | ' |
Goodwill | 0 | 0 | ' |
Additions: | ' | ' | ' |
Property and equipment | 0 | 0 | ' |
Intangible assets | 0 | 0 | ' |
Goodwill | 0 | 0 | ' |
Mgt Gaming [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Revenues | 221 | 0 | ' |
Cost of revenue | -496 | 0 | ' |
Gross margin | -275 | 0 | ' |
Operating profit/(loss ) | -1,440 | 0 | ' |
Cash and cash equivalents | 338 | 0 | ' |
Property and equipment | 28 | 0 | ' |
Intangible assets | 416 | 0 | ' |
Goodwill | 6,444 | 0 | ' |
Additions: | ' | ' | ' |
Property and equipment | 42 | 0 | ' |
Intangible assets | 1,002 | 0 | ' |
Goodwill | 6,444 | 0 | ' |
Unallocated Corporate Other [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Revenues | 0 | 0 | ' |
Cost of revenue | 0 | 0 | ' |
Gross margin | 0 | 0 | ' |
Operating profit/(loss ) | -6,967 | -2,516 | ' |
Cash and cash equivalents | 4,298 | 3,064 | ' |
Property and equipment | 17 | 25 | ' |
Intangible assets | 0 | 0 | ' |
Goodwill | 0 | 0 | ' |
Additions: | ' | ' | ' |
Property and equipment | 9 | 17 | ' |
Intangible assets | 0 | 0 | ' |
Goodwill | $0 | $0 | ' |
Segment_reporting_Details_Text
Segment reporting (Details Textual) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Segment Reporting Information [Line Items] | ' | ' |
Restricted Cash and Cash Equivalents | $140 | $2,039 |
Operating_leases_commitments_a2
Operating leases, commitments and security deposits (Details) (USD $) | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |
Schedule Of Future Minimum Rental Payments For Operating Leases [Line Items] | ' |
2014 | $104 |
2015 | 0 |
Total | $104 |
Operating_leases_commitments_a3
Operating leases, commitments and security deposits (Details Textual) (USD $) | 1 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | |||||||||||||||
In Thousands, except Share data, unless otherwise specified | Jan. 31, 2014 | 31-May-13 | Jan. 31, 2013 | Feb. 29, 2012 | Jan. 31, 2012 | Sep. 30, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | 3-May-13 | Apr. 30, 2013 | Dec. 31, 2013 | 31-May-13 | Oct. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Oct. 26, 2012 | Nov. 30, 2012 | Dec. 31, 2013 | Oct. 31, 2013 | Nov. 30, 2012 | Dec. 31, 2012 | Mar. 31, 2013 | Feb. 28, 2013 |
Service Agreements [Member] | Service Agreements [Member] | Service Agreements [Member] | Service Agreements [Member] | Service Agreements [Member] | Service Agreements [Member] | Mgt [Member] | Haller [Member] | Series A Convertible Preferred Stock [Member] | Series A Convertible Preferred Stock [Member] | Series A Convertible Preferred Stock [Member] | Series A Convertible Preferred Stock [Member] | Series A Convertible Preferred Stock [Member] | |||||||||||
Operating Leases Commitments And Security Deposit [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Operating Leases, Monthlty Rental Payments | ' | ' | ' | $4 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Operating Leases, Rental Deposit | ' | ' | ' | 6 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Operating Leases Expenses For Rental Deposit Total | 3 | 2 | ' | ' | ' | 240 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Operating Leases Rental Payments Terms | '6 months | '24 months | ' | ' | ' | '39 months | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Lease Expiration Date | 30-Jun-14 | 31-Oct-14 | ' | ' | ' | 30-Nov-14 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Operating Leases Rental Deposit Refunded | ' | ' | ' | ' | 128 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Loss Contingency, Settlement Agreement, Terms | ' | ' | 'twelve-month | ' | ' | ' | 'oneyear financial advisory and consulting agreement | ' | ' | ' | 'ten-month | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Refundable Rental Deposit | 3 | 2 | ' | ' | ' | 39 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Service Agreements Description | ' | ' | ' | ' | ' | ' | 'the Company was required to enter into investor/public relations service agreements, with terms of seven, ten and twelve months. | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock Issued During Period, Value, Issued For Cash | ' | ' | ' | ' | ' | ' | 188 | 42 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Convertible Preferred Stock, Shares Issued upon Conversion (in shares) | ' | ' | ' | ' | ' | ' | 9,413 | 1,394,766 | 100,000 | 1,123,809 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100,000 | ' | 30,000 | 241,748 |
Issuance Of Warrants To Purchase Of Common Stock | ' | 200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 400,000 | ' | ' | ' | 2,760,724 | ' | ' |
Agreement Terminated Date | ' | ' | ' | ' | ' | ' | 31-Jan-13 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Reduction In Cash Consideration | ' | 20 | 108 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash Consideration Payable Towards Consulting Agreement | ' | ' | ' | ' | ' | ' | ' | ' | 6 | ' | 415 | ' | ' | 415 | 113 | 250 | ' | ' | ' | ' | ' | ' | ' |
Issuance Of Restricted Stock | ' | ' | ' | ' | ' | ' | ' | ' | 50,000 | ' | ' | ' | ' | ' | ' | 120,000 | ' | ' | ' | ' | ' | ' | ' |
Payment Towards Consultation Services | ' | ' | ' | ' | ' | ' | 504 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Operating Leases, Rent Expense, Net | ' | ' | ' | ' | ' | ' | 145 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Service Agreements Total Expenses | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 444 | ' | ' | ' |
Cash Consideration Payable Towards Agreement Per Month | ' | ' | ' | ' | ' | ' | ' | ' | 15 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Operating Leases, Monthly Lease Payments | ' | ' | ' | ' | 13 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock Issued During Period, Value, Restricted Stock Award, Gross | ' | ' | ' | ' | ' | ' | ' | 721 | ' | ' | ' | 206 | 504 | 301 | ' | ' | ' | ' | 598 | ' | ' | ' | ' |
Share-Based Compensation | ' | ' | ' | ' | ' | ' | 2,965 | 753 | ' | ' | 201 | ' | ' | 911 | 0 | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage Of Gross Revenues Generated | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10.00% | ' | ' | ' | ' | ' |
Intangible Asset Sale Consideration | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6 | ' | ' | ' | ' | ' |
Settlement Agreement Payment Description | ' | ' | ' | ' | ' | ' | 'On December 2, 2013, the Company entered into a Settlement Agreement (the Settlement Agreement). Pursuant to the Settlement Agreement, both parties agreed to the following: (i) the Companys obligation to grant the Warrant and to issue the underlying Common Stock, and Centurys right to receive the Warrant and the underlying Common Stock is cancelled, (ii) Century will make a cash payment to the Company of $100 and (iii) the Company will issue to Century 100,000 shares of Common Stock subject to NYSE MKT exchange approval. | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds from Issuance of Common Stock | ' | ' | ' | ' | ' | ' | $100 | $0 | ' | ' | $100 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Income_taxes_Details
Income taxes (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Deferred Tax Assets And Liabilities [Line Items] | ' | ' |
U.S. federal tax loss carry-forward | $8,511 | $6,400 |
U.S. State tax loss carry-forward | 653 | 224 |
Foreign tax loss carry-forward | 0 | 15,552 |
U.S. federal capital loss carry-forward | 706 | 706 |
U.S. foreign tax credit carry-forward | 248 | 0 |
Equity-based compensation, fixed assets and other | 1,446 | 255 |
Total deferred tax assets | 11,564 | 23,137 |
Less: valuation allowance | -11,564 | -22,917 |
Deferred tax liability - warrants | 0 | -220 |
Net deferred tax asset | $0 | $0 |
Income_taxes_Details_1
Income taxes (Details 1) (USD $) | 12 Months Ended |
In Thousands, unless otherwise specified | Dec. 31, 2013 |
Federal Tax [Member] | ' |
Operating Loss Carryforwards [Line Items] | ' |
Operating Loss Carryforwards | $25,064 |
Operating Loss Carry forwards Expiration Dates | 'Fiscal 2023 |
Domestic Tax Authority [Member] | ' |
Operating Loss Carryforwards [Line Items] | ' |
Operating Loss Carryforwards | 11,703 |
Operating Loss Carry forwards Expiration Dates | 'Fiscal 2031 |
Foreign Tax Authority [Member] | ' |
Operating Loss Carryforwards [Line Items] | ' |
Operating Loss Carryforwards | 248 |
Operating Loss Carry forwards Expiration Dates | 'Fiscal 2025 |
Federal Capital [Member] | ' |
Operating Loss Carryforwards [Line Items] | ' |
Operating Loss Carryforwards | $2,076 |
Operating Loss Carry forwards Expiration Dates | 'Fiscal 2015 |
Income_taxes_Details_2
Income taxes (Details 2) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Effective Income Tax Rate Reconciliation [Line Items] | ' | ' |
Expected Federal Tax | 34.00% | 35.00% |
State Tax (Net of Federal Benefit) | 6.63% | 0.00% |
Permanent differences | -1.98% | 0.00% |
Loss of NOL benefit of closed foreign entity | -142.44% | 0.00% |
Foreign tax credit | 1.60% | 0.00% |
Other | -1.78% | 0.00% |
Foreign rate differential | 0.00% | 42.00% |
Change in valuation allowance | -103.98% | -7.00% |
Effective rate of income tax | 0.00% | 0.00% |
Income_taxes_Details_Textual
Income taxes (Details Textual) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Income Tax Disclosure [Line Items] | ' | ' |
Income tax (expense) / benefit | $0 | $14 |
Related_party_transactions_Det
Related party transactions (Details Textual) (USD $) | 1 Months Ended | ||
In Thousands, unless otherwise specified | Nov. 18, 2013 | Oct. 29, 2013 | Dec. 31, 2013 |
Related Party Transaction [Line Items] | ' | ' | ' |
Line of Credit Facility, Amount Outstanding | ' | ' | $0 |
Line Of Credit Facility Amount Paid | $50 | $50 | ' |
Fair_value_of_financial_instru2
Fair value of financial instruments (Details) (USD $) | Dec. 31, 2013 | Apr. 26, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | |||
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' |
Derivative warrant - liability | $0 | ' | $7,166 |
Derivative warrant - liability, Fair value | 0 | 1,680 | 7,166 |
Fair Value, Inputs, Level 1 [Member] | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' |
Derivative warrant - liability | 0 | ' | 0 |
Fair Value, Inputs, Level 2 [Member] | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' |
Derivative warrant - liability | 0 | ' | 0 |
Fair Value, Inputs, Level 3 [Member] | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' |
Derivative warrant - liability | $0 | ' | $7,166 |
Fair_value_of_financial_instru3
Fair value of financial instruments (Details 1) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' |
Balance | $7,166 | $0 |
Issuance of warrants to purchase intangible assets | ' | 851 |
Revaluation of warrant liability | ' | 557 |
Issuance of warrants with the issuance of Preferred Series A Convertible stock | ' | 6,731 |
Issuance of additional warrants due to anti-dilution provision | ' | 141 |
Total (gains) or losses (realized/unrealized) included in consolidated statements of operations | -2,204 | 557 |
Purchases, issuances and settlements | 0 | ' |
Reclassification of derivative liabilities to equity upon modification of terms (Note 6) | -9,370 | ' |
Transfers in and/or out of Level III | ' | 0 |
Balance | 0 | 7,166 |
Fair Value, Inputs, Level 3 [Member] | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' |
Balance | 7,166 | 0 |
Issuance of warrants to purchase intangible assets | ' | 851 |
Revaluation of warrant liability | ' | 557 |
Issuance of warrants with the issuance of Preferred Series A Convertible stock | ' | 6,731 |
Issuance of additional warrants due to anti-dilution provision | ' | 141 |
Total (gains) or losses (realized/unrealized) included in consolidated statements of operations | 2,204 | ' |
Purchases, issuances and settlements | 0 | ' |
Reclassification of derivative liabilities to equity upon modification of terms (Note 6) | -9,370 | ' |
Transfers in and/or out of Level III | ' | 0 |
Balance | $0 | $7,166 |
Convertible_note_and_warrant_D
Convertible note and warrant (Details Textual) (USD $) | 1 Months Ended | 0 Months Ended | 1 Months Ended | 12 Months Ended | |||
20-May-13 | Oct. 09, 2012 | Apr. 30, 2013 | Oct. 29, 2012 | Jan. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | |
Convertible Note And Warrant [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Debt Conversion, Converted Instrument, Shares Issued | ' | ' | ' | ' | ' | ' | 1,166,667 |
Proceeds from issuance of convertible notes payable | ' | ' | ' | ' | $3,500,000 | $0 | $3,500,000 |
Amortization of intangible assets | ' | ' | ' | ' | ' | 368,000 | 118,000 |
Fair Value Assumptions, Expected Volatility Rate | 75.00% | ' | 75.00% | 75.00% | ' | ' | 75.00% |
Fair Value Assumptions, Risk Free Interest Rate | 0.85% | ' | ' | 0.76% | ' | ' | 0.76% |
Fair Value Assumptions, Expected Dividend Rate | ' | ' | ' | ' | ' | ' | 0.00% |
Maximum Trading Shares Per Day | ' | ' | ' | ' | ' | ' | 30,000 |
Maximum Issuable Shares Under Note and Warrants | ' | ' | ' | ' | ' | ' | 2,000,000 |
Maximum Percentage Of Stock Options Discounted | ' | ' | ' | ' | ' | ' | 30.00% |
Beneficial conversion feature on convertible note | ' | 3,915,000 | ' | ' | ' | 0 | 500,000 |
Warrant Term | ' | ' | ' | ' | ' | '4 years | '5 years |
Interest Expense, Debt | ' | ' | ' | ' | ' | 0 | 93,000 |
Extinguishment of Debt, Amount | ' | 2,574,000 | ' | ' | ' | ' | ' |
Loss on extinguishment of convertible note | ' | -355,000 | ' | ' | ' | 0 | -355,000 |
Convertible Notes Payable | ' | 2,698,000 | ' | ' | ' | ' | ' |
Debt Instrument, Face Amount | ' | 3,500,000 | ' | ' | ' | ' | ' |
Debt Instrument, Unamortized Discount | ' | 802,000 | ' | ' | ' | ' | ' |
Beneficial conversion on issuance of convertible note | ' | 1,341,000 | ' | ' | ' | ' | 500,000 |
Extinguishment of Debt, Gain (Loss), Net of Tax | ' | 124,000 | ' | ' | ' | ' | ' |
Payments of Financing Costs, Total | ' | 462,000 | ' | ' | ' | ' | ' |
Legal Fees | ' | 17,000 | ' | ' | ' | ' | ' |
Senior Secured Convertible Notes [Member] | ' | ' | ' | ' | ' | ' | ' |
Convertible Note And Warrant [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Agreements Initiation Date | ' | ' | ' | ' | ' | ' | 9-Oct-12 |
Extinguishment Of Debt Shares Issued | ' | ' | ' | ' | ' | ' | 100,000 |
Value Of Shares Issued For Extinguishment Of Debt | ' | ' | ' | ' | ' | ' | 415,000 |
Debt Instrument Cash Payments | ' | ' | ' | ' | ' | ' | 3,500,000 |
Hb Warrant [Member] | ' | ' | ' | ' | ' | ' | ' |
Convertible Note And Warrant [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Convertible, Conversion Price | ' | ' | ' | ' | ' | ' | $3 |
Debt Conversion, Converted Instrument, Warrants or Options Issued | ' | ' | ' | ' | ' | ' | 875,000 |
Common Stock Exercise Price | ' | ' | ' | ' | ' | ' | $3 |
Proceeds from issuance of convertible notes payable | ' | ' | ' | ' | ' | ' | 3,500,000 |
Debt Instrument Convertible Terms Of Conversion Feature Warrants | ' | ' | ' | ' | ' | ' | 'The HB Warrant is exercisable at the option of the holder at a $3.00 per share exercise price and the Company can require exercise if the Weighted Average Price of the Companys Common Stock equals or exceeds 250% of the exercise price for no less than twenty (20) Trading Days during any thirty (30) consecutive Trading Day period occurring following the issuance date, as such terms are defined in the HB Warrant. |
Deferred Financing Costs | ' | ' | ' | ' | ' | ' | 588,000 |
Warrant Issuance Costs | ' | ' | ' | ' | ' | ' | 100,000 |
Amortization of intangible assets | ' | ' | ' | ' | ' | 0 | 125,000 |
Fair Value Assumptions, Risk Free Interest Rate | ' | ' | ' | ' | ' | ' | 0.80% |
Warrants Issued Fair Value | ' | ' | ' | ' | ' | ' | 500,000 |
Percentage Of Weighted Average Price Of Company Common Stock | ' | ' | ' | ' | ' | ' | 250.00% |
Warrants Exercise Price | ' | ' | ' | ' | ' | ' | $3 |
Beneficial Conversion Feature and Hb Warrant Discount Amortization Expense | ' | ' | ' | ' | ' | 0 | 199,000 |
Payment of Financing and Stock Issuance Costs | ' | ' | ' | ' | ' | ' | 688,000 |
Hb Warrant [Member] | Chardan Capital Markets LLC [Member] | ' | ' | ' | ' | ' | ' | ' |
Convertible Note And Warrant [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Issuable Of Common Stock For Investment Banking Services | ' | ' | ' | ' | ' | ' | 75,000 |
Issuance Of Restricted Common Stock | ' | ' | ' | ' | ' | ' | 75,000 |
Restricted Common Stock Fair Market Value | ' | ' | ' | ' | ' | ' | $315,000 |
Accrued_expenses_Details
Accrued expenses (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Accrued Expenses [Line Items] | ' | ' |
Professional fees | $66 | $200 |
Vendors | 0 | 0 |
Non-executive directors' fees | 23 | 54 |
Other | 5 | 18 |
Total | $94 | $272 |
Accrued_expenses_Details_Textu
Accrued expenses (Details Textual) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Accrued Expenses [Line Items] | ' | ' |
Accrued expenses | $94 | $272 |
Medicsights Ltd [Member] | ' | ' |
Accrued Expenses [Line Items] | ' | ' |
Accrued expenses | $0 | $18 |