Document_and_Entity_Informatio
Document and Entity Information | 9 Months Ended | 12 Months Ended |
Sep. 30, 2013 | Dec. 31, 2012 | |
Document and Entity Information [Abstract] | ' | ' |
Entity Registrant Name | 'RiceBran Technologies | 'RiceBran Technologies |
Entity Central Index Key | '0001063537 | '0001063537 |
Current Fiscal Year End Date | '--12-31 | '--12-31 |
Entity Well-known Seasoned Issuer | 'No | 'No |
Entity Voluntary Filers | 'No | 'No |
Entity Current Reporting Status | 'Yes | 'Yes |
Entity Filer Category | 'Smaller Reporting Company | 'Smaller Reporting Company |
Document Fiscal Year Focus | '2013 | '2012 |
Document Fiscal Period Focus | 'Q3 | 'FY |
Document Type | 'S-1/A | 'S-1/A |
Amendment Flag | 'false | 'false |
Document Period End Date | 30-Sep-13 | 31-Dec-12 |
Consolidated_Balance_Sheets_10
Consolidated Balance Sheets (10-K) (USD $) | Dec. 31, 2012 | Dec. 31, 2011 |
Current assets: | ' | ' |
Cash and cash equivalents | $1,040,000 | $3,329,000 |
Restricted cash | 1,919,000 | 2,118,000 |
Accounts receivable, net of allowance for doubtful accounts of $518 and $323 (variable interest entity restricted $2,505 at December 31, 2012) | 3,487,000 | 3,702,000 |
Inventories | 1,994,000 | 2,297,000 |
Deferred tax asset | 234,000 | 159,000 |
Income and operating taxes recoverable | 1,167,000 | 1,659,000 |
Deposits and other current assets | 975,000 | 1,049,000 |
Note receivable, current portion | 0 | 700,000 |
Total current assets | 10,816,000 | 15,013,000 |
Property, net (variable interest entity restricted, $5,757 at December 31, 2012) | 28,457,000 | 27,995,000 |
Goodwill | 4,773,000 | 5,240,000 |
Intangible assets, net | 2,575,000 | 3,928,000 |
Other long-term assets | 385,000 | 56,000 |
Total assets | 47,006,000 | 52,232,000 |
Current liabilities: | ' | ' |
Accounts payable | 3,021,000 | 2,995,000 |
Accrued expenses | 4,509,000 | 4,202,000 |
Current maturities of debt | 8,003,000 | 6,792,000 |
Pre-petition liabilities | 0 | 1,615,000 |
Total current liabilities | 15,533,000 | 15,604,000 |
Long-term liabilities: | ' | ' |
Long-term debt, less current portion | 11,581,000 | 7,933,000 |
Deferred tax liability | 1,674,000 | 3,767,000 |
Derivative warrant liabilities | 4,520,000 | 1,296,000 |
Total liabilities | 33,308,000 | 28,600,000 |
Commitments and contingencies | ' | ' |
Temporary Equity: Redeemable noncontrolling interest in Nutra SA | 9,262,000 | 9,918,000 |
Equity attributable to RiceBran Technologies shareholders: | ' | ' |
Preferred stock, 20,000,000 shares authorized and none issued | 0 | 0 |
Common stock, no par value, 2,500,000 shares authorized, 1,038,080 and 1,006,323 shares issued and outstanding | 210,396,000 | 209,613,000 |
Accumulated deficit | -204,420,000 | -194,911,000 |
Accumulated other comprehensive loss | -1,540,000 | -988,000 |
Total equity (deficit) attributable to RiceBran Technology shareholders | 4,436,000 | 13,714,000 |
Total liabilities, temporary equity and equity | $47,006,000 | $52,232,000 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parenthetical) (10-K) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Current assets: | ' | ' | ' |
Accounts receivable, allowance for doubtful accounts | $436,000 | $518,000 | $323,000 |
Equity attributable to RiceBran Technologies shareholders: | ' | ' | ' |
Preferred stock, shares authorized (in shares) | 20,000,000 | 20,000,000 | 20,000,000 |
Preferred stock, shares issued (in shares) | 0 | 0 | 0 |
Common stock, par value (in dollars per share) | $0 | $0 | $0 |
Common stock, shares authorized (in shares) | 6,000,000 | 2,500,000 | 2,500,000 |
Common stock, shares issued (in shares) | 1,103,597 | 1,038,080 | 1,006,323 |
Common stock, shares outstanding (in shares) | 1,103,597 | 1,038,080 | 1,006,323 |
Variable Interest Entity [Member] | ' | ' | ' |
Current assets: | ' | ' | ' |
Accounts receivable, variable interest entity restricted | 2,154,000 | 2,505,000 | ' |
Variable interest entity restricted portion of property, net | 5,231,000 | 5,757,000 | ' |
Current liabilities: | ' | ' | ' |
Nonrecourse portion of current maturities of long-term debt | 7,679,000 | 7,013,000 | ' |
Long-term liabilities: | ' | ' | ' |
Long-term debt, less current portion variable interest entity nonrecourse | $7,126,000 | $7,454,000 | ' |
Consolidated_Statements_of_Ope
Consolidated Statements of Operations (10-K) (USD $) | 12 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2012 | Dec. 31, 2011 | |
Consolidated Statements of Operations [Abstract] | ' | ' | |
Revenues | $37,723 | $36,957 | |
Cost of goods sold | 31,651 | 29,386 | |
Gross profit | 6,072 | 7,571 | |
Operating expenses: | ' | ' | |
Selling, general and administrative | 12,243 | 14,441 | |
Professional fees | 1,447 | 2,922 | |
Impairment of property | 1,069 | [1] | 906 |
Impairment of intangible assets | 0 | 686 | |
Recoveries from former customers | 0 | -1,800 | |
Total operating expenses | 14,759 | 17,155 | |
Loss from operations | -8,687 | -9,584 | |
Other income (expense): | ' | ' | |
Interest income | 74 | 126 | |
Interest expense | -1,926 | -1,763 | |
Change in fair value of derivative warrant and conversion liabilities | 5,420 | 332 | |
Loss on extinguishment | -4,941 | 0 | |
Financing expense | -2,184 | 0 | |
Foreign currency exchange, net | -617 | -99 | |
Other income | 27 | 232 | |
Other expense | -237 | -464 | |
Total other income (expense) | -4,384 | -1,636 | |
Loss before income taxes | -13,071 | -11,220 | |
Income tax benefit | 1,935 | 345 | |
Net loss | -11,136 | -10,875 | |
Net loss attributable to noncontrolling interest in Nutra SA | 1,627 | 776 | |
Net loss attributable to RiceBran Technologies shareholders | ($9,509) | ($10,099) | |
Loss per share attributable to RiceBran Technologies shareholders | ' | ' | |
Basic (in dollars per share) | ($9.29) | ($10.18) | |
Diluted (in dollars per share) | ($9.29) | ($10.18) | |
Weighted average number of shares outstanding | ' | ' | |
Basic (in shares) | 1,023,412 | 991,852 | |
Diluted (in shares) | 1,023,412 | 991,852 | |
[1] | Machinery and equipment not currently in use was evaluated for impairment and as a result was written down to estimated fair value in the first quarter of 2013 and the second quarter of 2012. Fair value is an estimate of net realizable value comprised of an estimate of proceeds from sale, based on an internal evaluation of market conditions, less estimated costs to sell. The estimate of net realizable value is subject to change. |
Consolidated_Statements_of_Com
Consolidated Statements of Comprehensive Loss (10-K) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 |
Consolidated Statements of Comprehensive Loss [Abstract] | ' | ' | ' | ' | ' | ' |
Net loss | ($2,676) | ($580) | ($11,484) | ($10,582) | ($11,136) | ($10,875) |
Other comprehensive loss - foreign currency translation, net of tax | -89 | 279 | -901 | -958 | -1,081 | -1,845 |
Comprehensive loss, net of tax | -2,765 | -301 | -12,385 | -11,540 | -12,217 | -12,720 |
Comprehensive loss attributable to noncontrolling interest, net of tax | 648 | 75 | 2,074 | 1,653 | 2,156 | 1,707 |
Total comprehensive loss attributable to RiceBran Technologies shareholders | ($2,117) | ($226) | ($10,311) | ($9,887) | ($10,061) | ($11,013) |
Consolidated_Statements_of_Cha
Consolidated Statements of Changes in Equity (10-K) (USD $) | Common Stock [Member] | Accumulated Deficit [Member] | Accumulated Other Comprehensive Loss [Member] | Noncontrolling Interest [Member] | Total |
In Thousands, except Share data, unless otherwise specified | |||||
Balance at beginning of period at Dec. 31, 2010 | $207,432 | ($184,812) | ($74) | ($156) | $22,390 |
Balance at beginning of period (in shares) at Dec. 31, 2010 | 976,796 | ' | ' | ' | ' |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' |
Cancelled shares and options - settlements with former officers | -267 | 0 | 0 | 0 | -267 |
Cancelled shares and options - settlements with former officers (in shares) | -224 | ' | ' | ' | ' |
Share-based compensation, options | 907 | 0 | 0 | 0 | 907 |
Warrants issued | 437 | 0 | 0 | 0 | 437 |
Acquisition of additional interests in subsidiary | -254 | 0 | 0 | 156 | -98 |
Common stock issued to Buyer | 618 | 0 | 0 | 0 | 618 |
Common stock issued to Buyer (in shares) | 12,884 | ' | ' | ' | ' |
Common stock issued for services | 568 | 0 | 0 | 0 | 568 |
Common stock issued for services (in shares) | 16,867 | ' | ' | ' | ' |
Other | 172 | 0 | 0 | 0 | 172 |
Foreign currency translation | 0 | 0 | -914 | 0 | -914 |
Net loss | 0 | -10,099 | 0 | 0 | -10,099 |
Balance at end of period at Dec. 31, 2011 | 209,613 | -194,911 | -988 | 0 | 13,714 |
Balance at end of period (in shares) at Dec. 31, 2011 | 1,006,323 | ' | ' | ' | 1,006,323 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' |
Share-based compensation, options | 923 | 0 | 0 | 0 | 923 |
Warrants exercised | 711 | 0 | 0 | 0 | 711 |
Warrants exercised (in shares) | 7,763 | ' | ' | ' | ' |
Common stock issued for services | 228 | 0 | 0 | 0 | 228 |
Common stock issued for services (in shares) | 8,972 | ' | ' | ' | ' |
Common stock issued in exchange for options | 10 | 0 | 0 | 0 | 10 |
Common stock issued in exchange for options (in shares) | 15,022 | ' | ' | ' | ' |
Cancellation of convertible notes and warrant | -1,089 | 0 | 0 | 0 | -1,089 |
Foreign currency translation | 0 | 0 | -552 | 0 | -552 |
Net loss | 0 | -9,509 | 0 | 0 | -9,509 |
Balance at end of period at Dec. 31, 2012 | 210,396 | -204,420 | -1,540 | 0 | 4,436 |
Balance at end of period (in shares) at Dec. 31, 2012 | 1,038,080 | ' | ' | ' | 1,038,080 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' |
Common stock issued for services | 613 | 0 | 0 | ' | 613 |
Common stock issued for services (in shares) | 37,088 | ' | ' | ' | ' |
Net loss | 0 | -9,851 | 0 | ' | -9,851 |
Balance at end of period at Sep. 30, 2013 | $212,045 | ($214,271) | ($1,998) | ' | ($4,224) |
Balance at end of period (in shares) at Sep. 30, 2013 | 1,103,597 | ' | ' | ' | 1,103,597 |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (10-K) (USD $) | 12 Months Ended | |
Dec. 31, 2012 | Dec. 31, 2011 | |
Cash flow from operating activities: | ' | ' |
Net loss | ($11,136,000) | ($10,875,000) |
Adjustments to reconcile net loss to net cash used in operating activities: | ' | ' |
Depreciation | 3,430,000 | 3,532,000 |
Amortization | 1,182,000 | 1,448,000 |
Provision for doubtful accounts receivable | 401,000 | 162,000 |
Common stock and share-based compensation, options | 1,161,000 | 1,475,000 |
Impairment of intangibles and property | 1,069,000 | 1,592,000 |
Change in fair value of derivative warrant and conversion liabilities | -5,420,000 | -332,000 |
Loss on extinguishment | 4,941,000 | 0 |
Financing expense | 2,184,000 | 0 |
Recovery from former customer | 0 | -1,000,000 |
Settlement with former officer | 0 | -267,000 |
Deferred tax benefit | -1,935,000 | -345,000 |
Foreign exchange loss | 617,000 | 0 |
Other | 158,000 | 772,000 |
Changes in operating assets and liabilities: | ' | ' |
Accounts receivable | -462,000 | -577,000 |
Inventories | 201,000 | 343,000 |
Accounts payable and accrued expenses | 215,000 | 517,000 |
Pre-petition liabilities | -1,615,000 | -4,790,000 |
Other | 187,000 | -807,000 |
Net cash used in operating activities | -4,822,000 | -9,152,000 |
Cash flows from investing activities: | ' | ' |
Receipts on notes receivable | 700,000 | 1,100,000 |
Proceeds from sales of property | 576,000 | 0 |
Purchases of property | -6,482,000 | -6,867,000 |
Restricted cash | 200,000 | -200,000 |
Other | 44,000 | -210,000 |
Net cash used in investing activities | -4,962,000 | -6,177,000 |
Cash flows from financing activities: | ' | ' |
Proceeds from sale of membership interests in Nutra SA, net of costs | 1,500,000 | 11,625,000 |
Proceeds from issuance of convertible debt and related warrants | 3,563,000 | 506,000 |
Payments of debt | -12,610,000 | -8,818,000 |
Proceeds from issuance of debt | 15,189,000 | 15,056,000 |
Net cash provided by financing activities | 7,642,000 | 18,369,000 |
Effect of exchange rate changes on cash and cash equivalents | -147,000 | -248,000 |
Net change in cash and cash equivalents | -2,289,000 | 2,792,000 |
Cash and cash equivalents, beginning of period | 3,329,000 | 537,000 |
Cash and cash equivalents, end of period | 1,040,000 | 3,329,000 |
Supplemental disclosures: | ' | ' |
Cash paid for interest | 1,651,000 | 1,551,000 |
Cash paid for income taxes | $0 | $0 |
Condensed_Consolidated_Balance
Condensed Consolidated Balance Sheets (Unaudited) (10-Q) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
Current assets: | ' | ' |
Cash and cash equivalents | $701,000 | $1,040,000 |
Restricted cash | 1,919,000 | 1,919,000 |
Accounts receivable, net of allowance for doubtful accounts of $436 and $518 (variable interest entity restricted $2,154 and $2,505) | 3,112,000 | 3,487,000 |
Inventories | 1,560,000 | 1,994,000 |
Deferred tax asset | 405,000 | 234,000 |
Income and operating taxes recoverable | 592,000 | 1,167,000 |
Deposits and other current assets | 895,000 | 975,000 |
Total current assets | 9,184,000 | 10,816,000 |
Property, net (variable interest entity restricted $5,231 and $5,757) | 25,820,000 | 28,457,000 |
Goodwill | 4,331,000 | 4,773,000 |
Intangible assets, net | 1,690,000 | 2,575,000 |
Other long-term assets | 801,000 | 385,000 |
Total assets | 41,826,000 | 47,006,000 |
Current liabilities: | ' | ' |
Accounts payable | 4,569,000 | 3,021,000 |
Accrued expenses | 5,217,000 | 4,509,000 |
Current maturities of debt | 9,422,000 | 8,003,000 |
Total current liabilities | 19,208,000 | 15,533,000 |
Long-term liabilities: | ' | ' |
Long-term debt, less current portion | 12,355,000 | 11,581,000 |
Deferred tax liability | 93,000 | 1,674,000 |
Derivative warrant liabilities | 6,508,000 | 4,520,000 |
Total liabilities | 38,164,000 | 33,308,000 |
Commitments and contingencies | ' | ' |
Temporary equity | ' | ' |
Redeemable noncontrolling interest in Nutra SA | 7,488,000 | 9,262,000 |
Redeemable common stock (30,593 shares outstanding) | 398,000 | 0 |
Total temporary equity | 7,886,000 | 9,262,000 |
Equity (deficit) attributable to RiceBran Technologies shareholders: | ' | ' |
Preferred stock, 20,000,000 shares authorized and none issued | 0 | 0 |
Common stock, no par value, 6,000,000 and 2,500,000 shares authorized, 1,103,597, and 1,038,080 shares issued and outstanding | 212,045,000 | 210,396,000 |
Accumulated deficit | -214,271,000 | -204,420,000 |
Accumulated other comprehensive loss | -1,998,000 | -1,540,000 |
Total equity (deficit) attributable to RiceBran Technology shareholders | -4,224,000 | 4,436,000 |
Total liabilities, temporary equity and equity | $41,826,000 | $47,006,000 |
Condensed_Consolidated_Balance1
Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) (10-Q) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
Current assets: | ' | ' |
Accounts receivable, allowance for doubtful accounts | $436,000 | $518,000 |
Temporary equity | ' | ' |
Redeemable common stock shares outstanding (in shares) | 30,593 | 0 |
Equity attributable to RiceBran Technologies shareholders: | ' | ' |
Preferred stock, shares authorized (in shares) | 20,000,000 | 20,000,000 |
Preferred stock, shares issued (in shares) | 0 | 0 |
Common stock, par value (in dollars per share) | $0 | $0 |
Common stock, shares authorized (in shares) | 6,000,000 | 2,500,000 |
Common stock, shares issued (in shares) | 1,103,597 | 1,038,080 |
Common stock, shares outstanding (in shares) | 1,103,597 | 1,038,080 |
Variable Interest Entity [Member] | ' | ' |
Current assets: | ' | ' |
Accounts receivable, variable interest entity restricted | 2,154,000 | 2,505,000 |
Variable interest entity restricted portion of property, net | 5,231,000 | 5,757,000 |
Current liabilities: | ' | ' |
Nonrecourse portion of current maturities of long-term debt | 7,679,000 | 7,013,000 |
Long-term liabilities: | ' | ' |
Long-term debt, less current portion variable interest entity nonrecourse | $7,126,000 | $7,454,000 |
Condensed_Consolidated_Stateme
Condensed Consolidated Statements of Operations (Unaudited) (10-Q) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||||
In Thousands, except Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | ||
Consolidated Statements of Operations [Abstract] | ' | ' | ' | ' | ' | ' | ||
Revenues | $8,725 | $9,349 | $26,822 | $28,806 | $37,723 | $36,957 | ||
Cost of goods sold | 7,955 | 7,473 | 23,808 | 23,426 | 31,651 | 29,386 | ||
Gross profit | 770 | 1,876 | 3,014 | 5,380 | 6,072 | 7,571 | ||
Operating expenses: | ' | ' | ' | ' | ' | ' | ||
Selling, general and administrative | 2,949 | 2,864 | 8,210 | 9,567 | 12,243 | 14,441 | ||
Professional fees | 485 | 366 | 1,215 | 1,353 | 1,447 | 2,922 | ||
Impairment of property | 0 | 0 | 300 | [1] | 1,069 | 1,069 | [1] | 906 |
Total operating expenses | 3,434 | 3,230 | 9,725 | 11,989 | 14,759 | 17,155 | ||
Loss from operations | -2,664 | -1,354 | -6,711 | -6,609 | -8,687 | -9,584 | ||
Other income (expense): | ' | ' | ' | ' | ' | ' | ||
Interest income | 48 | 3 | 74 | 66 | 74 | 126 | ||
Interest expense | -1,084 | -498 | -2,879 | -1,303 | -1,926 | -1,763 | ||
Foreign currency exchange, net | -58 | 209 | -346 | -573 | -617 | -99 | ||
Change in fair value of derivative warrant and conversion liabilities | 576 | 3,502 | -1,918 | 4,008 | 5,420 | 332 | ||
Loss on extinguishment | 0 | -1,955 | -526 | -4,941 | -4,941 | 0 | ||
Financing expense | 0 | -640 | -564 | -2,184 | -2,184 | 0 | ||
Other income | 22 | 18 | 27 | 25 | 27 | 232 | ||
Other expense | -152 | -59 | -358 | -176 | -237 | -464 | ||
Total other income (expense) | -648 | 580 | -6,490 | -5,078 | -4,384 | -1,636 | ||
Loss before income taxes | -3,312 | -774 | -13,201 | -11,687 | -13,071 | -11,220 | ||
Income tax benefit | 636 | 194 | 1,717 | 1,105 | 1,935 | 345 | ||
Net loss | -2,676 | -580 | -11,484 | -10,582 | -11,136 | -10,875 | ||
Net loss attributable to noncontrolling interest in Nutra SA | 605 | 212 | 1,633 | 1,184 | 1,627 | 776 | ||
Net loss attributable to RiceBran Technologies shareholders | ($2,071) | ($368) | ($9,851) | ($9,398) | ($9,509) | ($10,099) | ||
Loss per share attributable to RiceBran Technologies shareholders | ' | ' | ' | ' | ' | ' | ||
Basic (in dollars per share) | ($1.83) | ($0.36) | ($9.10) | ($9.21) | ($9.29) | ($10.18) | ||
Diluted (in dollars per share) | ($1.83) | ($0.36) | ($9.10) | ($9.21) | ($9.29) | ($10.18) | ||
Weighted average number of shares outstanding | ' | ' | ' | ' | ' | ' | ||
Basic (in shares) | 1,129,290 | 1,024,345 | 1,082,452 | 1,020,242 | 1,023,412 | 991,852 | ||
Diluted (in shares) | 1,129,290 | 1,024,345 | 1,082,452 | 1,020,242 | 1,023,412 | 991,852 | ||
[1] | Machinery and equipment not currently in use was evaluated for impairment and as a result was written down to estimated fair value in the first quarter of 2013 and the second quarter of 2012. Fair value is an estimate of net realizable value comprised of an estimate of proceeds from sale, based on an internal evaluation of market conditions, less estimated costs to sell. The estimate of net realizable value is subject to change. |
Condensed_Consolidated_Stateme1
Condensed Consolidated Statements of Comprehensive Loss (Unaudited) (10-Q) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 |
Consolidated Statements of Comprehensive Loss [Abstract] | ' | ' | ' | ' | ' | ' |
Net loss | ($2,676) | ($580) | ($11,484) | ($10,582) | ($11,136) | ($10,875) |
Other comprehensive income (loss) - foreign currency translation, net of tax | -89 | 279 | -901 | -958 | -1,081 | -1,845 |
Comprehensive loss, net of tax | -2,765 | -301 | -12,385 | -11,540 | -12,217 | -12,720 |
Comprehensive loss attributable to noncontrolling interest, net of tax | 648 | 75 | 2,074 | 1,653 | 2,156 | 1,707 |
Total comprehensive loss attributable to RiceBran Technologies shareholders | ($2,117) | ($226) | ($10,311) | ($9,887) | ($10,061) | ($11,013) |
Condensed_Consolidated_Stateme2
Condensed Consolidated Statements of Cash Flows (Unaudited) (10-Q) (USD $) | 9 Months Ended | |
Sep. 30, 2013 | Sep. 30, 2012 | |
Cash flow from operating activities: | ' | ' |
Net loss | ($11,484,000) | ($10,582,000) |
Adjustments to reconcile net loss to net cash used in operating activities: | ' | ' |
Depreciation and amortization | 2,975,000 | 3,623,000 |
Provision for doubtful accounts receivable | 49,000 | 313,000 |
Stock and share-based compensation | 524,000 | 879,000 |
Change in fair value of derivative warrant and conversion liabilities | 1,918,000 | -4,008,000 |
Loss on extinguishment | 526,000 | 4,941,000 |
Financing expense | 564,000 | 2,184,000 |
Impairment of property | 300,000 | 1,069,000 |
Deferred tax benefit | -1,717,000 | -1,105,000 |
Other | 525,000 | 189,000 |
Changes in operating assets and liabilities: | ' | ' |
Accounts receivable | -253,000 | -737,000 |
Inventories | 463,000 | -159,000 |
Accounts payable and accrued expenses | 2,595,000 | 1,147,000 |
Pre-petition liabilities | 0 | -1,615,000 |
Other | 493,000 | -39,000 |
Net cash used in operating activities | -2,522,000 | -3,900,000 |
Cash flows from investing activities: | ' | ' |
Purchases of property | -2,301,000 | -5,824,000 |
Proceeds from sales of property | 847,000 | 276,000 |
Payment for license | -1,200,000 | 0 |
Receipts on notes receivable | 0 | 700,000 |
Restricted cash | 0 | 200,000 |
Other | 0 | -24,000 |
Net cash used in investing activities | -2,654,000 | -4,672,000 |
Cash flows from financing activities: | ' | ' |
Payments of debt | -12,288,000 | -9,010,000 |
Proceeds from issuance of debt, net of issuance costs | 15,163,000 | 11,607,000 |
Proceeds from issuance of convertible debt and related warrants | 537,000 | 3,563,000 |
Proceeds from sale of membership interest in Nutra SA | 300,000 | 0 |
Proceeds from sale of membership interest in RBT PRO | 1,200,000 | 0 |
Net cash provided by financing activities | 4,912,000 | 6,160,000 |
Effect of exchange rate changes on cash and cash equivalents | -75,000 | -67,000 |
Net change in cash and cash equivalents | -339,000 | -2,479,000 |
Cash and cash equivalents, beginning of period | 1,040,000 | 3,329,000 |
Cash and cash equivalents, end of period | 701,000 | 850,000 |
Supplemental disclosures: | ' | ' |
Cash paid for interest | 1,785,000 | 1,162,000 |
Cash paid for income taxes | $0 | $0 |
CHAPTER_11_REORGANIZATION_LIQU
CHAPTER 11 REORGANIZATION, LIQUIDITY AND MANAGEMENT'S PLANS (10-K) | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2013 | Dec. 31, 2012 | |||
CHAPTER 11 REORGANIZATION, LIQUIDITY AND MANAGEMENT'S PLAN [Abstract] | ' | ' | ||
CHAPTER 11 REORGANIZATION, LIQUIDITY AND MANAGEMENT'S PLAN | ' | ' | ||
NOTE 3. LIQUIDITY AND MANAGEMENT’S PLAN | NOTE 1. CHAPTER 11 REORGANIZATION, LIQUIDITY AND MANAGEMENT’S PLANS | |||
We continue to experience losses and negative cash flows from operations which raises substantial doubt about our ability to continue as a going concern. We currently have insufficient funds to support our operations and service our debt in the near term and have inadequate financing arrangements in place at this time. Although we believe that we will be able to obtain the funds necessary to operate our business, there can be no assurances that our efforts will prove successful. We engaged Maxim Group LLC to assist us with fundsraising, filed a preliminary prospectus on Form S-1 dated September 30, 2013, applied to Nasdaq to list our stock on that exchange and we are pursuing an equity raise. The accompanying consolidated financial statements do not include any adjustments that might be necessary if we are unable to continue as a going concern. | Chapter 11 Reorganization | |||
In the ongoing effort to achieve profitability, significant emphasis will be placed on growing revenues. The growth of revenues is expected to include the following: | On November 10, 2009, RiceBran Technologies (the Parent Company, formerly known as NutraCea) filed a voluntary petition for relief under Chapter 11 of the United States Bankruptcy Code (Bankruptcy Code) in the United States Bankruptcy Court for the District of Arizona (the Bankruptcy Court), in the proceeding entitled In re: NutraCea, Case No. 2:09-bk-28817-CGC (the Chapter 11 Reorganization). None of the Parent Company’s subsidiaries, including its Brazilian rice bran oil operation, were included in the bankruptcy filing. The Parent Company continued to manage its assets and operate its business as “debtor-in-possession” under the jurisdiction of the Bankruptcy Court through the November 2010 plan effective date (see below). Under the Bankruptcy Code, certain claims against the Parent Company in existence prior to the filing of the bankruptcy petition were stayed during the pendency of the Chapter 11 Reorganization. Additional claims arose subsequent to the filing date from the Parent Company’s business operations, its secured borrowing from Wells Fargo Bank, N.A., its employment of professionals, its disposition of certain non-core assets (as described below) and its treatment of certain executory contracts. | |||
· | growth in existing markets for stabilized rice bran (SRB), rice bran oil (RBO) and defatted rice bran (DRB); | On August 10, 2010, the Parent Company and the Official Unsecured Creditors Committee filed with the Bankruptcy Court an amended plan of reorganization (Amended Plan) in accordance with the Bankruptcy Code. The Amended Plan called for the payment in full of all allowed claims. Creditors voted overwhelmingly in favor of the Amended Plan and, on October 27, 2010, the Bankruptcy Court entered its order confirming the Amended Plan. The confirmation order became final on November 10, 2010, and the Amended Plan became effective on November 30, 2010. | ||
· | expanding our product offerings and improving existing products; | |||
· | aligning with, or acquiring, strategic partners who can provide channels for additional sales of our products; and | The liabilities subject to compromise became the Parent Company’s payment obligations under the Amended Plan of approximately $7.0 million when the Amended Plan became effective. As of December 31, 2011, the portion of these obligations remaining unpaid was reflected as pre-petition liabilities in our consolidated balance sheets. Interest accrued on the allowed liabilities subject to compromise from November 2009 through November 2010, at an annual rate of 0.38%. Interest accrued on the unpaid prepetition liabilities at an annual rate of 8.25% beginning in December 2010. | ||
· | implementing price increases. | |||
In January 2012, we made our final $1.6 million distribution to the general unsecured creditors. Cumulatively, we made distributions totaling $7.0 million, representing 100% of the amount owed under the Amended Plan, plus accrued interest. The distributions were made with the proceeds from (i) the sale of interests in Nutra SA, LLC (Nutra SA) in 2011, (ii) proceeds from the issuance of convertible notes, debentures and related warrants in 2012 and 2011 (iii) receipts on notes receivable in 2012 and 2011 and (iv) proceeds from the sale of the idle Phoenix facility in 2010. | ||||
We may also monetize certain assets which could result in additional impairment of asset values. Asset monetization may include some or all of the following: | ||||
Liquidity and Management’s Plans | ||||
· | sale of certain facilities; | |||
· | sale of an interest in one or more subsidiaries; or | We continue to experience losses and negative cash flows from operations which raises substantial doubt about our ability to continue as a going concern. Although we believe that we will be able to obtain the funds to operate our business, there can be no assurances that our efforts will prove successful. The accompanying consolidated financial statements do not include any adjustments that might be necessary if we are unable to continue as a going concern. | ||
· | sale of surplus equipment. | |||
We took steps in 2012 and 2011 to improve profitability and liquidity by reducing our U.S. based employee headcount at both the corporate and plant operations level. In the ongoing effort to improve profitability, significant emphasis will be placed on growing revenues. The growth of revenues is expected to include the following: | ||||
· | growth in existing markets for stabilized rice bran (SRB), rice bran oil (RBO) and defatted rice bran (DRB); | |||
· | expanding our product offerings and improving existing products; | |||
· | aligning with strategic partners who can provide channels for additional sales of our products; and | |||
· | implementing price increases. | |||
In 2012 and 2011, we issued shares of common stock and options to satisfy certain obligations in an effort to conserve cash. In 2012 and 2011, we also obtained funds from issuances of convertible debt and warrants. We intend to obtain the necessary cash to continue our operations through the monetization of certain assets, improved profitability and possibly through equity and/or debt financing transactions. Some of these monetizations could result in additional impairment of asset values. Asset monetization may include some or all of the following: | ||||
· | sale of certain facilities; | |||
· | sale of a noncontrolling interest in one or more subsidiaries; or | |||
· | sale of surplus equipment. |
GENERAL_BUSINESS_10K
GENERAL BUSINESS (10-K) | 9 Months Ended | 12 Months Ended |
Sep. 30, 2013 | Dec. 31, 2012 | |
GENERAL BUSINESS [Abstract] | ' | ' |
GENERAL BUSINESS | ' | ' |
NOTE 2. BUSINESS | NOTE 2. GENERAL BUSINESS | |
We are a human food ingredient, nutritional supplement, and animal nutrition company focused on the procurement, bio-refining and marketing of numerous products derived from rice bran. We have proprietary and patented intellectual property that allows us to convert rice bran, one of the world’s most underutilized food sources, into a number of highly nutritious human food and animal nutrition products. Our target markets are human food and animal nutrition manufacturers and retailers, as well as natural food, functional food and nutraceutical supplement manufacturers and retailers, both domestically and internationally. We have developed a bio-refining approach to processing raw rice bran into various value added constituents such as stabilized rice bran (SRB), rice bran oil (RBO), defatted rice bran (DRB) and a variety of other valuable derivative products from each of these core products. | We are a human food ingredient and animal nutrition company focused on the procurement, bio-refining and marketing of numerous products derived from rice bran. We have proprietary and patented intellectual property that allows us to convert rice bran, one of the world’s most underutilized food sources, into a number of highly nutritious human food and animal nutrition products. Our target markets are human food and animal nutrition manufacturers and retailers, as well as natural food, functional food and nutraceutical supplement manufacturers and retailers, both domestically and internationally. We have developed a bio-refining approach to processing raw rice bran into various value added constituents such as stabilized rice bran (SRB), rice bran oil (RBO), defatted rice bran (DRB) and a variety of other valuable derivative products from each of these core products. | |
We have three reportable business segments: (i) USA, which manufactures and distributes SRB in various granulations along with other products derived from rice bran via proprietary and patented enzyme treatment processes; (ii) Brazil, which extracts crude RBO and DRB from rice bran, which are then further processed into a number of valuable human food and animal nutrition products; and (iii) Corporate, which includes includes corporate, administrative regulatory and compliance functions. No allocations of expense are made from the Corporate segment to the other segments. General corporate interest is not allocated. | We have three reportable business segments: (i) Corporate; (ii) USA, which manufactures and distributes SRB in various granulations along with other products derived from rice bran via proprietary and patented enzyme treatment processes; and (iii) Brazil, which extracts crude RBO and DRB from rice bran, which are then further processed into a number of valuable human food and animal nutrition products. The Corporate segment includes selling, general and administrative expenses including public company expenses, litigation, and other expenses not directly attributable to other segments. No Corporate allocations are made to the other segments. General corporate interest is not allocated. | |
The USA segment consists of two locations in California and two locations in Louisiana all of which can produce SRB. One of the two Louisiana SRB facilities, located in Lake Charles, has been idle since May 2009. The USA segment also includes our Dillon, Montana Stage II facility which produces RiSolubles (a highly nutritious, carbohydrate and lipid rich fraction of SRB), RiFiber (a fiber rich derivative of SRB) and RiBalance (a complete rice bran nutritional package derived from further processing SRB). The manufacturing facilities included in our USA segment have proprietary and patented processing equipment and technology for the stabilization and further processing of rice bran into finished products. Approximately 55% of USA segment revenue was from sales of human food products and 45% was from sales of animal nutrition products. | The USA segment consists of two locations in California and two locations in Louisiana all of which can produce SRB. One of the two Louisiana SRB facilities, located in Lake Charles, has been idle since May 2009. The USA segment also includes our Dillon, Montana Stage II facility which produces RiSolubles (a highly nutritious, carbohydrate and lipid rich fraction of SRB), RiFiber (a fiber rich derivative of SRB) and RiBalance (a complete rice bran nutritional package derived from further processing SRB). The manufacturing facilities included in our USA segment have proprietary and patented processing equipment and technology for the stabilization and further processing of rice bran into finished products. In 2012, approximately 50% of USA segment revenue was from sales of human food products and approximately 50% was from sales of animal nutrition products. | |
The Brazil segment consists of the consolidated operations of Nutra SA, LLC, whose only operating subsidiary is Industria Riograndens De Oleos Vegetais Ltda. (Irgovel), located in Pelotas, Brazil. Irgovel manufactures RBO and DRB products for both the human and animal food markets in Brazil and internationally. In refining RBO to an edible grade, several co-products are obtained. One such product is distilled fatty acids, a valuable raw material for the detergent industry. DRB is sold in bulk as animal feed and compounded with a number of other ingredients to produce complex animal nutrition products which are packaged and sold under Irgovel brands in the Brazilian market. Approximately 40% of Brazil segment product revenue was from sales of RBO products and 60% was from sales of DRB products. | The Brazil segment consists of the consolidated operations of Nutra SA, whose only operating subsidiary is Industria Riograndens De Oleos Vegetais Ltda. (Irgovel), located in Pelotas, Brazil. Irgovel manufactures RBO and DRB products for both the human and animal food markets in Brazil and internationally. In refining RBO to an edible grade, several co-products are obtained. One such product is distilled fatty acids, a valuable raw material for the detergent industry. DRB is sold in bulk as animal feed and compounded with a number of other ingredients to produce complex animal nutrition products which are packaged and sold under Irgovel brands in the Brazilian market. In 2012, approximately 46% of Brazil segment product revenue was from sales of RBO products and 54% was from sales of DRB products. |
SUMMARY_OF_SIGNIFICANT_ACCOUNT
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (10-K) | 12 Months Ended |
Dec. 31, 2012 | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract] | ' |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | ' |
NOTE 3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | |
Principles of Consolidation – The consolidated financial statements include the accounts of RiceBran Technologies (the Parent Company) and all subsidiaries in which we have a controlling interest. All significant inter-company accounts and transactions are eliminated in consolidation. Noncontrolling interests in our subsidiaries are recorded net of tax as net earnings (loss) attributable to noncontrolling interests. | |
Foreign Currencies - The consolidated financial statements are presented in our reporting currency, U.S. Dollars. The functional currency for Irgovel is the Brazilian Real. Accordingly, the balance sheet of Irgovel is translated into U.S. Dollars using the exchange rate in effect at the balance sheet date. Revenues and expenses are translated using the average exchange rates in effect during the period. Translation differences are recorded in accumulated other comprehensive income (loss) as foreign currency translation. Gains or losses on transactions denominated in a currency other than the subsidiaries’ functional currency which arise as a result of changes in foreign exchange rates are recorded as foreign exchange gain or loss in the statements of operations. | |
Cash and Cash Equivalents – We consider all highly liquid investments purchased with an original maturity of three months or less at the time of purchase to be cash equivalents. As of December 31, 2012, we maintain our cash, including restricted cash, and cash equivalents, with major banks. We maintain cash in bank accounts, which at times may exceed federally insured limits. We have not experienced any losses on such accounts. | |
Accounts Receivable and Allowance for Doubtful Accounts – Accounts receivable represent amounts receivable on trade accounts. The allowance for doubtful accounts is based on our assessment of the collectability of customer accounts and the aging of accounts receivable. We analyze the aging of customer accounts, customer concentrations, customer credit-worthiness, current economic trends and changes in our customer payment patterns when evaluating the adequacy of the allowance for doubtful accounts. From period to period, differences in judgments or estimates utilized may result in material differences in the amount and timing of our provision for doubtful accounts. We continue to evaluate our credit policy to ensure that the customers are worthy of terms and support our business plans. | |
Inventories - Inventories are stated at the lower of cost or market, with cost determined by the first-in, first-out method. In the USA segment, we employ a full absorption procedure using standard cost techniques. The standards are customarily reviewed and adjusted annually so that they are materially consistent with actual purchase and production costs. In the Brazil segment we use actual average purchase and production costs. Provisions for potentially obsolete or slow moving inventory are made based upon our analysis of inventory levels, historical obsolescence and future sales forecasts. | |
Long-Lived Assets, Intangible Assets and Goodwill – Long-lived assets, consisting primarily of property, intangible assets, and goodwill, comprise a significant portion of our total assets. Property is stated at cost less accumulated depreciation. Depreciation is computed on the straight-line basis over the estimated useful lives. Expenditures for maintenance and repairs are charged to operations as incurred while renewals and betterments are capitalized. Gains or losses on the sale of property and equipment are reflected in the statements of operations. Intangible assets are stated at cost less accumulated amortization. | |
The carrying values of property and intangible assets with finite lives are evaluated periodically in relation to the expected future cash flows of the underlying assets and monitored for other potential triggering events that might indicate impairment. Adjustments are made in the event that estimated undiscounted net cash flows estimated to be derived from the asset are less than the carrying value of the related asset. The cash flow projections are based on historical experience, management’s view of growth rates within the industry, and the anticipated future economic environment. | |
We are required to test goodwill for impairment at least annually (by policy December 31) and more often if an event occurs or circumstances change that more likely than not reduce the fair value of a reporting unit below its carrying value. In assessing the recoverability of goodwill, we make estimates and assumptions about sales, operating margin, terminal growth rates and discount rates based on our budgets, business plans, economic projections, anticipated future cash flows and marketplace data. There are inherent uncertainties related to these factors and management’s judgment in applying these factors. The fair value of a reporting unit has been determined using an income approach based on the present value of the future cash flows of each reporting unit. The goodwill impairment test compares the fair value of individual reporting units to the carrying value of these reporting units. If fair value is less than carrying value then goodwill impairment may be present. The market value of our common stock is an indicator of fair value and a consideration in determining the fair value of our reporting units. | |
Revenue Recognition – We recognize revenue for product sales when title and risk of loss pass to our customers, generally upon shipment for USA segment customers and Brazil segment international customers and upon customer receipt for Brazil segment domestic customers. Each transaction is evaluated to determine if all of the following four criteria are met: (i) persuasive evidence of an arrangement exists; (ii) delivery has occurred; (iii) the selling price is fixed and determinable; and (iv) collectability is reasonably assured. If any of the above criteria cannot be satisfied then such a transaction is not recorded as revenue, or is recorded as deferred revenue and recognized only when the sales cycle is complete and payment is either received or becomes reasonably assured. Changes in judgments and estimates regarding the application of the above mentioned four criteria might result in a change in the timing or amount of revenue recognized by such transactions. | |
We make provisions for estimated returns discounts, and price adjustments when they are reasonably estimable. Revenues on the statements of operations are net of provisions for estimated returns, routine sales discounts, volume allowances and adjustments. Revenues on the statements of operations are also net of taxes collected from customers and remitted to governmental authorities. | |
Shipping and Handling Fees and Costs – Amounts billed to a customer in a sale transaction related to shipping costs are reported as revenues and the related costs incurred for shipping are included in cost of goods sold. | |
Research and Development – Research and development expenses include internal and external costs. Internal costs include salaries and employment related expenses. External expenses consist of costs associated with product development. All such costs are charged to expense in the period they are incurred. | |
Derivative Conversion Liabilities – We have certain convertible debt outstanding that contain antidilution clauses. Under these clauses, we may be required to lower the conversion price on the convertible debt based on future issuances of our common stock, awards of options to employees, additional issuance of warrants and/or other convertible instruments below certain conversion prices. We account for the conversion liabilities associated with these antidilution clauses as liability instruments, separate from the host debt. The conversion liabilities are classified as debt on our consolidated balance sheets. These conversion liabilities are valued using the lattice model each reporting period and the resultant change in fair value is recorded in the statements of operations in other income (expense). | |
Derivative Warrant Liabilities – We have certain warrant agreements in effect that contain antidilution clauses. Under these clauses, we may be required to lower the exercise price on these warrants and issue additional warrants based on future issuances of our common stock, awards of options to employees, additional issuance of warrants and/or other convertible instruments below certain exercise prices. We account for the warrants with these antidilution clauses as liability instruments. These warrants are valued using the lattice model each reporting period and the resultant change in fair value is recorded in the statements of operations in other income (expense). | |
Share-Based Compensation – Share-based compensation expense for employees is calculated at the grant date using the Black-Scholes-Merton valuation model based on awards ultimately expected to vest, reduced for estimated forfeitures, and expensed on a straight-line basis over the requisite service period of the grant. Forfeitures are estimated at the time of grant based on our historical forfeiture experience and are revised in subsequent periods if actual forfeitures differ from those estimates. The Black-Scholes-Merton option pricing model requires us to estimate key assumptions such as expected life, volatility, risk-free interest rates and dividend yield to determine the fair value of share-based awards, based on both historical information and management’s judgment regarding market factors and trends. We treat options granted to employees of foreign subsidiaries as equity options. We will use alternative valuation models if grants have characteristics that cannot be reasonably estimated using the Black-Scholes-Merton model. | |
We account for share-based compensation awards granted to non-employees and consultants by determining the fair value of the awards granted at either the fair value of the consideration received or the fair value of the equity instruments issued, whichever is more reliably measured. Generally we value options granted to non-employees and consultants using the Black-Scholes-Merton valuation model. 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 (i) the date at which a commitment for performance by the counterparty to earn the equity instruments is reached or (ii) the date at which the counterparty's performance is complete. The expense of stock awards issued to consultants or other third parties are recognized over the term of service. In the event services are terminated early or we require no specific future performance, the entire amount is expensed. The value is re-measured each reporting period over the requisite service period. Most non-employee awards have graded vesting schedules resulting in higher compensation expense recorded early in the service period. | |
Income Taxes – We account for income taxes by recording a deferred tax asset or liability for the recognition of future deductible or taxable amounts and operating loss and tax credit carryforwards. Deferred tax expense or benefit is recognized as a result of timing differences between the recognition of assets and liabilities for financial reporting and tax purposes during the year. | |
Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. Deferred tax assets are recognized for deductible temporary differences and operating loss and tax credit carryforwards. A valuation allowance is established, when necessary, to reduce that deferred tax asset if it is more likely than not that the related tax benefits will not be realized. | |
Use of Estimates – The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Because of the uncertainty inherent in such estimates, actual results could differ from those estimates. | |
Reclassifications – Certain reclassifications have been made to prior period amounts to conform to classifications adopted in the current year financial statement presentation. | |
Recent Accounting Pronouncements | |
Accounting pronouncements that are applicable to us and could potentially have a material impact on our financial statements are discussed below. | |
In May 2011, the Financial Accounting Standards Board (FASB) amended guidance on fair value measurement and expanded the required disclosures related to fair value. The amendments, among other things, clarify that the highest and best use concept applies only to nonfinancial assets and addresses the appropriate premiums and discounts to consider in fair value measurement. We adopted the guidance prospectively, effective January 1, 2012. Adoption did not have a significant impact on our financial position or results of operations. | |
In September 2011, the FASB amended guidance on goodwill impairment testing. The amendments permit us to first assess qualitative factors to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount as a basis for determining whether it is necessary to perform the two-step goodwill impairment test. Previous guidance required us to test goodwill for impairment, on at least an annual basis, by comparing the fair value of a reporting unit with its carrying amount, including goodwill (step one). If the fair value of a reporting unit is less than its carrying amount, then the second step of the test must be performed to measure the amount of the impairment loss, if any. Under the amendments, we are not required to calculate the fair value of a reporting unit unless we determine that it is more likely than not that its fair value is less than its carrying amount. We adopted the amendments effective for annual and interim goodwill impairment tests (if required) performed after January 1, 2012. Adoption had no impact on our financial position or results of operations. |
LOSS_PER_SHARE_EPS_10K
LOSS PER SHARE (EPS) (10-K) | 9 Months Ended | 12 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2013 | Dec. 31, 2012 | |||||||||||||||||||||||||
LOSS PER SHARE (EPS) [Abstract] | ' | ' | ||||||||||||||||||||||||
LOSS PER SHARE (EPS) | ' | ' | ||||||||||||||||||||||||
NOTE 4. LOSS PER SHARE (EPS) | NOTE 4. LOSS PER SHARE (EPS) | |||||||||||||||||||||||||
Basic EPS is computed by dividing net income (loss) attributable to RiceBran Technologies shareholders by the weighted average number of common shares outstanding during all periods presented. Shares underlying options, warrants and convertible debt are excluded from the basic EPS calculation but are considered in calculating diluted EPS. | Basic EPS is computed by dividing net income (loss) attributable to RiceBran Technologies shareholders by the weighted average number of common shares outstanding during all periods presented. Shares underlying options, warrants and convertible notes payable are excluded from the basic EPS calculation but are considered in calculating diluted EPS. | |||||||||||||||||||||||||
Diluted EPS is computed by dividing the net income (loss) attributable to RiceBran Technologies shareholders by the weighted average number of shares outstanding during the period increased by the number of additional shares that would have been outstanding if the impact of assumed exercises and conversions is dilutive. The dilutive effect of outstanding options and warrants is calculated using the treasury stock method. The dilutive effect of outstanding convertible debt is calculated using the if-converted method. | Diluted EPS is computed by dividing the net income (loss) attributable to RiceBran Technologies shareholders by the weighted average number of shares outstanding during the period increased by the number of additional shares that would have been outstanding if the impact of assumed exercises and conversions is dilutive. The dilutive effect of outstanding options and warrants is calculated using the treasury stock method. The dilutive effect of outstanding convertible debt is calculated using the if converted method. | |||||||||||||||||||||||||
Below are reconciliations of the numerators and denominators in the EPS computations for the three and nine months ended September 30, 2013 and 2012. | Below are reconciliations of the numerators and denominators in the EPS computations. | |||||||||||||||||||||||||
Three Months | Nine Months | 2012 | 2011 | |||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | NUMERATOR (in thousands): | ||||||||||||||||||||||
NUMERATOR (in thousands): | Basic and diluted - net loss attributable to RiceBran Technologies shareholders | $ | (9,509 | ) | $ | (10,099 | ) | |||||||||||||||||||
Basic and diluted - net loss attributable to RiceBran Technologies shareholders | $ | (2,071 | ) | $ | (368 | ) | $ | (9,851 | ) | $ | (9,398 | ) | ||||||||||||||
DENOMINATOR: | ||||||||||||||||||||||||||
DENOMINATOR: | Basic EPS - weighted average number of shares outstanding | 1,023,412 | 991,852 | |||||||||||||||||||||||
Basic EPS - weighted average number of shares outstanding | 1,129,290 | 1,024,345 | 1,082,452 | 1,020,242 | Effect of dilutive securities outstanding | - | - | |||||||||||||||||||
Effect of dilutive securities outstanding | - | - | - | - | Diluted EPS - weighted average number of shares outstanding | 1,023,412 | 991,852 | |||||||||||||||||||
Diluted EPS - weighted average number of shares outstanding | 1,129,290 | 1,024,345 | 1,082,452 | 1,020,242 | ||||||||||||||||||||||
Number of shares of common stock which could be purchased with weighted average outstanding securities not included in diluted EPS because effect would be antidilutive- | ||||||||||||||||||||||||||
Number of shares of common stock which could be purchased with weighted average outstanding securities not included in diluted EPS because effect would be antidilutive- | Stock options (average exercise price of $48.00 and $58.00 ) | 191,187 | 197,879 | |||||||||||||||||||||||
Stock options (average exercise price for the three and nine months ended September 30, 2013, of $24.00 and $28.00) | 181,584 | 192,353 | 179,912 | 195,236 | Warrants (average exercise price of $62.00 and $226.00) | 736,753 | 214,765 | |||||||||||||||||||
Warrants (average exercise price for the three and nine months ended September 30, 2013, of $16.00 and $20.00) | 716,917 | 1,003,127 | 751,653 | 713,414 | Convertible notes (average conversion price of $16.00 and $42.00) | 334,709 | 25,800 | |||||||||||||||||||
Convertible debt (average conversion price for the three and nine months ended September 30, 2013, of $14.00) | 438,754 | 416,805 | 452,184 | 287,368 | ||||||||||||||||||||||
The impact of potentially dilutive securities outstanding at December 31, 2012 and 2011, was not included in the calculation of diluted EPS in 2012 and 2011 because to do so would be antidilutive. Those securities which were antidilutive in 2012 and 2011, which remain outstanding, could potentially dilute EPS in the future. | ||||||||||||||||||||||||||
The impact of potentially dilutive securities outstanding at September 30, 2013 and 2012, was not included in the calculation of diluted EPS in 2013 and 2012 because to do so would be antidilutive. Those securities listed in the table above which were antidilutive in 2013 and 2012, which remain outstanding, could potentially dilute EPS in the future. |
REDEEMABLE_NONCONTROLLING_INTE
REDEEMABLE NONCONTROLLING INTEREST IN NUTRA SA (10-K) | 9 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||
Sep. 30, 2013 | Dec. 31, 2012 | |||||||||||||||||||||||||||||
REDEEMABLE NONCONTROLLING INTEREST IN NUTRA SA [Abstract] | ' | ' | ||||||||||||||||||||||||||||
REDEEMABLE NONCONTROLLING INTEREST IN NUTRA SA | ' | ' | ||||||||||||||||||||||||||||
NOTE 5. REDEEMABLE NONCONTROLLING INTEREST IN NUTRA SA | NOTE 5. REDEEMABLE NONCONTROLLING INTEREST IN NUTRA SA | |||||||||||||||||||||||||||||
We hold a variable interest which relates to our equity interest in Nutra SA, LLC (Nutra SA). We are the primary beneficiary of Nutra SA, and as such, Nutra SA’s assets, liabilities and results of operations are included in our consolidated financial statements. The other equity holders’ interests are reflected in net loss attributable to noncontrolling interest in Nutra SA, in the consolidated statements of operations, and redeemable noncontrolling interest in Nutra SA, in the consolidated balance sheets. Our variable interest in Nutra SA is our Brazil segment. A summary of the carrying amounts of Nutra SA balances included in our consolidated balance sheets follows (in thousands). | We hold a variable interest which relates to our equity interest in Nutra SA, LLC (Nutra SA). We are the primary beneficiary of Nutra SA, and as such, Nutra SA’s assets, liabilities and results of operations are included in our consolidated financial statements. The other equity holders’ interests are reflected in net loss attributable to noncontrolling interest in Nutra SA, in the consolidated statements of operations, and redeemable noncontrolling interest in Nutra SA, in the consolidated balance sheets. Our variable interest in Nutra SA is our Brazil segment. A summary of the carrying amounts of Nutra SA balances included in our consolidated balance sheets follows (in thousands). | |||||||||||||||||||||||||||||
September 30, | December 31, | December 31, | ||||||||||||||||||||||||||||
2013 | 2012 | 2012 | 2011 | |||||||||||||||||||||||||||
Cash and cash equivalents | $ | 478 | $ | 562 | Cash and cash equivalents | $ | 562 | $ | 3,290 | |||||||||||||||||||||
Other current assets (restricted $2,154 and $2,505) | 4,370 | 5,675 | Other current assets (restricted $2,505 at December 31, 2012) | 5,675 | 6,641 | |||||||||||||||||||||||||
Property, net (restricted $5,231 and $5,757) | 18,319 | 19,690 | Property, net (restricted $5,757 at December 31, 2012) | 19,690 | 15,833 | |||||||||||||||||||||||||
Goodwill and intangibles, net | 5,185 | 6,215 | Goodwill and intangibles, net | 6,215 | 7,556 | |||||||||||||||||||||||||
Other noncurrent assets | 24 | 54 | Other noncurrent assets | 54 | 21 | |||||||||||||||||||||||||
Total assets | $ | 28,376 | $ | 32,196 | Total assets | $ | 32,196 | $ | 33,341 | |||||||||||||||||||||
Current liabilities | $ | 6,007 | $ | 5,141 | Current liabilities | $ | 5,141 | $ | 3,851 | |||||||||||||||||||||
Current portion of long-term debt (nonrecourse) | 7,679 | 7,013 | Current portion of long-term debt (nonrecourse $7,013 at December 31, 2012) | 7,013 | 5,469 | |||||||||||||||||||||||||
Long-term debt, less current portion (nonrecourse) | 7,126 | 7,454 | Long-term debt, less current portion (nonrecourse $7,454 at December 31, 2012) | 7,454 | 6,361 | |||||||||||||||||||||||||
Other noncurrent liabilities | 93 | 1,871 | Other noncurrent liabilities | 1,871 | 3,766 | |||||||||||||||||||||||||
Total liabilities | $ | 20,905 | $ | 21,479 | Total liabilities | $ | 21,479 | $ | 19,447 | |||||||||||||||||||||
Nutra SA’s debt is secured by its accounts receivable and property. Our parent company and our non-Brazilian subsidiaries do not guarantee any of Nutra SA’s debt. | Nutra SA’s debt is secured by its accounts receivable and property. Our parent company and our non-Brazilian subsidiaries do not guarantee any of Nutra SA’s debt. | |||||||||||||||||||||||||||||
A summary of changes in redeemable noncontrolling interest for the three and nine months ended September 30, 2013 and 2012, follows (in thousands). | A summary of changes in redeemable noncontrolling interest in Nutra SA follows (in thousands): | |||||||||||||||||||||||||||||
Three Months | Nine Months Ended | Investors' Ownership Interest After Transaction | 2012 | 2011 | ||||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | Redeemable noncontrolling interest in Nutra SA, beginning of period | $ | 9,918 | $ | - | ||||||||||||||||||||||
Redeemable noncontrolling interest in Nutra SA, beginning of period | $ | 7,836 | $ | 8,340 | $ | 9,262 | $ | 9,918 | Investors' purchase of initial units - first quarter 2011 | 35.6 | % | - | 7,725 | |||||||||||||||||
Investors' interest in net loss of Nutra SA | (605 | ) | (212 | ) | (1,633 | ) | (1,184 | ) | Investors' purchase of additional units - second quarter 2011 | 45.2 | % | - | 3,000 | |||||||||||||||||
Investors' interest in other comprehensive loss of Nutra SA | (43 | ) | 137 | (441 | ) | (469 | ) | Investors' purchase of additional units - third quarter 2011 | 49 | % | - | 900 | ||||||||||||||||||
Investors' purchase of additional units of Nutra SA | 300 | - | 300 | - | Investors' purchase of additional units - fourth quarter 2012 | 49 | % | 1,500 | - | |||||||||||||||||||||
Redeemable noncontrolling interest in Nutra SA, end of period | $ | 7,488 | $ | 8,265 | $ | 7,488 | $ | 8,265 | Investors' interest in net loss of Nutra SA | (1,627 | ) | (776 | ) | |||||||||||||||||
Investors' interest in accumulated other comprehensive income of Nutra SA | (529 | ) | (931 | ) | ||||||||||||||||||||||||||
In December 2010, we entered into a membership interest purchase agreement (MIPA) with AF Bran Holdings-NL LLC and AF Bran Holdings LLC (Investors). The Investors’ interest was 49.0% in all periods presented, until September 2013, when it increased to 49.7% as a result of the Investors’ contribution of an additional $0.3 million to Nutra SA. In October 2013, we transferred an additional $0.3 million in cash to Nutra SA and in November 2013, the Investors contributed $0.9 million for additional units of Nutra SA, and the Investor’s interest decreased to 49.1%. The Investors’ share of Nutra SA’s net income (loss) increases (decreases) redeemable noncontrolling interest. | Redeemable noncontrolling interest in Nutra SA, end of period | $ | 9,262 | $ | 9,918 | |||||||||||||||||||||||||
Redeemable noncontrolling interest in Nutra SA is recorded in temporary equity, above the equity section and after liabilities on our consolidated balance sheets, because the Investors have the right to force a sale of Nutra SA assets in the future (see Drag Along Rights described below). We have assessed the likelihood of the Investors exercising these rights as less than probable at September 30, 2013. We will continue to evaluate the probability of the Investors exercising their Drag Along Rights each reporting period. We will begin to accrete the redeemable noncontrolling interest up to fair value if and when it is probable the Investors will exercise these rights. | In December 2010, we entered into a membership interest purchase agreement (MIPA) with AF Bran Holdings-NL LLC and AF Bran Holdings LLC (Investors). The transaction closed in January 2011. The Investors agreed to purchase units in Nutra SA for an aggregate purchase price of $7.7 million. Prior to the transaction, Nutra SA was our wholly owned subsidiary. Nutra SA owns 100% of Irgovel. Initially after the closing, effective in January 2011, we owned a 64.4% interest in Nutra SA, and the Investors owned a 35.6% interest in Nutra SA. The Parent Company received $4.0 million of the January 2011 proceeds. The remaining $3.7 million, less $0.5 million retained by Nutra SA for administrative expenses, was invested in Irgovel for capital improvements and working capital needs. | |||||||||||||||||||||||||||||
We are restricted from competing with Nutra SA and Irgovel in Brazil as further described in the MIPA. | We agreed to use $2.2 million of the funds received from the January 2011 transaction closing to repay amounts owed to the Class 6 general unsecured creditors in accordance with the Amended Plan. The remaining $1.8 million was used for general corporate purposes, other unsecured creditor claims and administrative expenses associated with the Chapter 11 Reorganization. | |||||||||||||||||||||||||||||
Under the limited liability company agreement for Nutra SA (LLC agreement), as amended, any units held by the Investors beginning January 1, 2014, accrue a yield at 4% (the Yield). Commencing with the first quarter of 2014, Nutra SA must make distributions to the Investors quarterly in the amount equal to the previously accrued and unpaid Yield plus any additional distributions owed to the Investors. Until March 31, 2014, or if at any time Nutra SA is past due on its obligations to pay the Investors the Yield, all amounts due to us for management fees or for shared employees as provided under the LLC Agreement shall be tolled and remain unpaid until all past due amounts, if any, owed to the Investors have been paid in full. | We received in 2011 an additional $3.9 million from the Investors - $1.9 million for the purchase of outstanding units in Nutra SA from us, which was used by the Corporate and USA segments for working capital, and $2.0 million for the purchase of new units in Nutra SA, which were used by the Brazil segment to fund a capital expansion. These purchases increased the Investors’ interest in Nutra SA to a 49.0% interest as of December 31, 2011. | |||||||||||||||||||||||||||||
Following the payment of the Yield, Nutra SA must distribute all distributable cash (as defined in the LLC Agreement) to the members on March 31 of each year as follows: (i) first, to the Investors in an amount equal to a multiplier (Preference Multiple) times the Investors’ capital contributions, less the aggregate amount of distributions paid to the Investors, (ii) second, to us in an amount equal to two times the capital contributions made by us, less the aggregate amount of distributions paid to us; and (iii) third, to us and the Investors in proportion to our respective membership interests. The Preference Multiple is currently 2.3. | In December 2012, we received an additional $1.5 million from the Investors for the purchase of new units in Nutra SA, which were used by the Brazil segment to fund a capital expansion. We made additional capital contributions valued at $1.5 million under the agreement, consisting of the right to use certain proprietary equipment and forgiveness of fees Nutra SA owed us. We must deliver and install the equipment at our expense, within 90 days after requested by either the Investors or Irgovel. The Investors’ interest remained 49.0% interest as of December 31, 2012. | |||||||||||||||||||||||||||||
Under an October 2013 amendment of investment agreements, in November 2013, the Investors contributed an additional $0.9 million for units in Nutra SA and have the right to invest additional funds before December 31, 2013. We also agreed to pay to Nutra SA ninety percent of any funds received (when and if received) from our restricted cash (see the Commitment and Contingencies note), with no resulting change in our Nutra SA voting rights. The Preference Multiple may change as of December 31, 2013, to an amount dependent on fundings made by us (including from restricted cash) and the Investors in November and December 2013. If the we fail to purchase at least $3.0 million of units between November 1 and December 31, 2013, an event of default will be automatically declared January 1, 2014, and the Preference Multiple will increase to 2.5 . If at any time after November 1, 2013, our contributions for additional Nutra SA units between November 1 and December 31, 2013, plus funds contributed to Nutra SA from restricted cash, exceed the total of the Investor’s fourth quarter 2013 contributions by more than $4.0 million, the Preference Multiple will be reduced to 2.0. | The Investors have the right to subsequently purchase from Nutra SA up to an additional 750,000 units for another $1,500,000. If immediately prior to such purchase Nutra SA and Irgovel have sufficient cash to complete certain projects, then the units will have no voting rights. | |||||||||||||||||||||||||||||
In the second and third quarters of 2013, we transferred $0.7 million and $0.1 million in cash to Nutra SA. In exchange, title was returned to us for certain equipment contributed to Nutra SA in December 2012 with an historical cost of $0.2 million. | We determined that we continued to control Nutra SA after each of the membership interest sale transactions and should continue to consolidate Nutra SA. We treated each transaction similar to an equity transaction, with no gain or loss recognized in consolidated net loss or comprehensive loss. The $0.3 million historical cost of the equipment we contributed in December 2012, is reflected in Nutra SA’s balance sheet, in the Brazil segment, as of December 31, 2012. The Investors’ share of Nutra SA’s net income (loss) increases (decreases) redeemable noncontrolling interest. | |||||||||||||||||||||||||||||
Under the LLC agreement, the business of Nutra SA is to be conducted by the manager, currently our CEO, subject to the oversight of the management committee. The management committee is comprised of three of our representatives and two Investor representatives. Upon an event of default or a qualifying event, we will no longer control the management committee and the management committee will include three Investor representatives and two of our representatives. In addition, following an event of default or a qualifying event, a majority of the members of the management committee may replace the manager of Nutra SA. | Redeemable noncontrolling interest in Nutra SA is recorded in temporary equity, above the equity section and after liabilities on our consolidated balance sheets, because the Investors have the right to force a sale of Nutra SA assets in the future (see Drag Along Rights described below). We have assessed the likelihood of the Investors exercising these rights as less than probable at December 31, 2012, in part because it is more likely the Investors will exercise other rights prior to January 2014. We will continue to evaluate the probability of the Investors exercising their Drag Along rights each reporting period. We will begin to accrete the redeemable noncontrolling interest up to fair value if and when it is probable the Investors will exercise these rights. | |||||||||||||||||||||||||||||
As of September 30, 2013, there have been no events of default. Events of default, as defined in the MIPA and the October 2013 amendment of investment agreements, are: | We are restricted from competing with Nutra SA and Irgovel in Brazil as further described in the MIPA. | |||||||||||||||||||||||||||||
· | A Nutra SA business plan deviation, defined as the occurrence, for 2014, of a 20% unfavorable variation in two out of three of the following: (i) revenue, (ii) earnings before interest, taxes, depreciation and amortization (EBITDA) or (iii) debt, | |||||||||||||||||||||||||||||
· | A Nutra SA EBITDA default, which is defined as the failure to achieve 85% of planned EBITDA for three consecutive quarters, | In connection with the December 2012 capital contributions, we amended the limited liability company agreement for Nutra SA (LLC agreement). Pursuant to this amendment, among other things, any units held by the Investors after January 1, 2014, accrue a yield at 4% if a certain milestone condition is satisfied, and at 8% if the milestone condition is not satisfied (the Yield). The milestone condition relates to Nutra SA having performed all of the following: obtaining additional back financing, completion of the capital expansion project within certain spending limitations, and operation of the plant post expansion at targeted processing levels. Commencing with the first quarter of 2014, Nutra SA must make distributions to the Investors quarterly in the amount equal to the previously accrued and unpaid Yield plus any additional distributions owed to the Investors. Until March 31, 2014, or if at any time Nutra SA is past due on its obligations to pay the Investors the Yield, all amounts due to us for management fees or for shared employees as provided under the LLC Agreement shall be tolled and remain unpaid until all past due amounts, if any, owed to the Investors have been paid in full. | ||||||||||||||||||||||||||||
· | A material problem, which is defined as a material problem in a facility (unrelated to changes in law, weather, etc.) likely to cause a Nutra SA business plan deviation or Nutra SA EBITDA default, which results in damages not at least 80% covered by insurance proceeds, | |||||||||||||||||||||||||||||
· | Failure of Irgovel to meet minimum quarterly processing targets beginning in the second quarter of 2014, or | Following the payment of the Yield, Nutra SA must distribute all distributable cash (as defined in the LLC Agreement) to the members on March 31 of each year as follows: (i) first, to the Investors in an amount equal to 2.3 times the Investors’ capital contribution, less the aggregate amount of distributions paid to the Investors, (ii) second, to us in an amount equal to two times the capital contributions made by us, less the aggregate amount of distributions paid to us; and (iii) third, to us and the Investors in proportion to our respective membership interests. | ||||||||||||||||||||||||||||
· | Failure of Irgovel to achieve EBITDA of at least $4.0 million in any year after 2014. | |||||||||||||||||||||||||||||
Under the LLC agreement, the business of Nutra SA is to be conducted by the manager, currently our CEO, subject to the oversight of the management committee. The management committee is comprised of three of our representatives and two Investor representatives. Upon an event of default or a qualifying event, we will no longer control the management committee and the management committee will include three Investor representatives and two of our representatives. In addition, following an event of default or a qualifying event, a majority of the members of the management committee may replace the manager of Nutra SA. | ||||||||||||||||||||||||||||||
As of September 30, 2013, there have been no qualifying events. The LLC agreement defines a qualifying event as any event prior to September 16, 2014, which results, or will result, in (i) a person or group of persons exercising the right to appoint members to our board of directors holding one third or more of the votes of all board members, (ii) the sale, exchange, pledge or use as guarantee of one half or more of our ownership interest in Nutra SA to a third party or (iii) the bankruptcy of RiceBran Technologies or Nutra SA. | ||||||||||||||||||||||||||||||
As of December 31, 2012, there have been no events of default. Events of default, as defined in the MIPA, are: | ||||||||||||||||||||||||||||||
The Investors have certain rights, summarized below, under an investor rights agreement and the LLC agreement, as further defined in the agreements. | · | A Nutra SA business plan deviation, defined as the occurrence, in either 2012, 2013 or 2014, of a 20% unfavorable variation in two out of three of the following: (i) revenue, (ii) earnings before interest, taxes, depreciation and amortization (EBITDA) or (iii) debt, | ||||||||||||||||||||||||||||
· | Conversion Rights – The Investors may exchange units in Nutra SA for equity interests in our subsidiaries. After any exchange, the Investors would possess the same rights and obligations with respect to the securities of our subsidiaries, as they have in Nutra SA. | · | A Nutra SA EBITDA default, which is defined as the failure to achieve 85% of planned EBITDA for three consecutive quarters, or | |||||||||||||||||||||||||||
· | Global Holding Company (GHC) Roll-Up – If we form an entity, GHC, to hold our Brazil segment assets, the Investors may exchange units in Nutra SA for equity interests in GHC. The investors may exercise this right after the second anniversary of the formation of GHC or, if an event of default has occurred, after the GHC formation date. The appraised fair value of the Investors’ interest in Nutra SA would be used to determine the amount of ownership interest the Investors would receive in GHC. | · | A material problem, which is defined as a material problem in a facility (unrelated to changes in law, weather, etc.) likely to cause a Nutra SA business plan deviation or Nutra SA EBITDA default, which results in damages not at least 80% covered by insurance proceeds. | |||||||||||||||||||||||||||
· | RiceBran Technologies Roll-Up – The Investors may exchange units in Nutra SA for our common stock.. This right is available upon the earlier of January 2014 or upon an event of default. We may elect to postpone our obligation to complete the roll-up to January 2015 if the roll-up would result in over 25% of our common stock being owned by the Investors. The appraised fair value of the Investors’ interest in Nutra SA and the market price of our stock would be used to determine the amount of ownership interest the Investors would receive. | |||||||||||||||||||||||||||||
· | Drag Along Rights – The Investors have the right to force the sale of all Nutra SA assets after the earlier of January 1, 2015 or upon the failure to process a certain level of rice bran in the second and third quarters of 2014. The right terminates upon the occurrence of certain events (a $50 million Nutra SA initial public offering or a change of control, as defined). We may elect to exercise a right of first refusal to purchase the Investors’ interest instead of proceeding to a sale. | As of December 31, 2012, there have been no qualifying events. The LLC agreement, defines a qualifying event as any event prior to September 16, 2014, which results, or will result in, (i) a person or group of persons exercising the right to appoint members to our board of directors holding one third or more of the votes of all board members, (ii) the sale, exchange, pledge or use as guarantee of one half of our ownership interest in Nutra SA to a third party or (iii) the bankruptcy of RiceBran Technologies or Nutra SA. | ||||||||||||||||||||||||||||
In evaluating whether we are the primary beneficiary of Nutra SA, we considered the matters which could be put to a vote of the members. Until there is an event of default or a qualifying event, the Investors’ rights and abilities, individually or in the aggregate, do not allow them to substantively participate in the operations of Nutra SA. The Investors do not currently have the ability to dissolve Nutra SA or otherwise force the sale of all its assets. They do have such rights in the future (Drag Along Rights as described above). We will continue to evaluate our ability to control Nutra SA each reporting period. | The Investors have certain rights, summarized below, under an investor rights agreement and the LLC agreement, as further defined in the agreements. | |||||||||||||||||||||||||||||
· | Conversion Rights – The Investors may exchange units in Nutra SA for equity interests in Irgovel. After any exchange, the Investors would possess the same rights and obligations with respect to the securities of Irgovel, as they have in Nutra SA. | |||||||||||||||||||||||||||||
Cash provided by operations in our Brazil segment is generally unavailable for distribution to our Corporate and USA segments pursuant to the terms of the LLC agreement. | · | Global Holding Company (GHC) Roll-Up – If we form an entity, GHC, to hold our Brazil segment assets, the Investors may exchange units in Nutra SA for equity interests in GHC. The investors may exercise this right after the second anniversary of the formation of GHC or, if an event of default has occurred, after the later of January 2013 and the GHC formation date. The appraised fair value of the Investors’ interest in Nutra SA would be used to determine the amount of ownership interest the Investors would receive in GHC. | ||||||||||||||||||||||||||||
· | RiceBran Technologies Roll-Up – The Investors may exchange units in Nutra SA for our common stock.. This right is available upon the earlier of January 2014 or, if an event of default has occurred, January 2013. We may elect to postpone our obligation to complete the roll-up to January 2015 if the roll-up would result in over 25% of our common stock being owned by the Investors. The appraised fair value of the Investors’ interest in Nutra SA and the market price of our stock would be used to determine the amount of ownership interest the Investors would receive. | |||||||||||||||||||||||||||||
· | Drag Along Rights – The Investors have the right to force the sale of all Nutra SA assets after the earlier of (i) January 2014, (ii) January 2013 if an event of default occurs, or (iii) the date of a qualifying event. The right terminates upon the occurrence of certain events (a $50 million Nutra SA initial public offering or a change of control, as defined). We may elect to exercise a right of first refusal to purchase the Investors’ interest instead of proceeding to a sale. | |||||||||||||||||||||||||||||
In evaluating whether we are the primary beneficiary of Nutra SA, we considered the matters which could be put to a vote of the members. Until there is an event of default or a qualifying event, the Investors’ rights and abilities, individually or in the aggregate, do not allow them to substantively participate in the operations of Nutra SA. The Investors do not currently have the ability to dissolve Nutra SA or otherwise force the sale of all its assets. They do have such rights in the future (Drag Along Rights as described above). We will continue to evaluate our ability to control Nutra SA each reporting period. | ||||||||||||||||||||||||||||||
Cash provided by operations in our Brazil segment is generally unavailable for distribution to our Corporate and USA segments pursuant to the terms of the LLC agreement. |
INVENTORIES_10K
INVENTORIES (10-K) | 9 Months Ended | 12 Months Ended | ||||||||||||||||
Sep. 30, 2013 | Dec. 31, 2012 | |||||||||||||||||
INVENTORIES [Abstract] | ' | ' | ||||||||||||||||
INVENTORIES | ' | ' | ||||||||||||||||
NOTE 6. INVENTORIES | NOTE 6. INVENTORIES | |||||||||||||||||
Inventories are composed of the following (in thousands): | Inventories are composed of the following (in thousands): | |||||||||||||||||
September 30, | December 31, | As of December 31, | ||||||||||||||||
2013 | 2012 | 2012 | 2011 | |||||||||||||||
Finished goods | $ | 1,096 | $ | 1,146 | Finished goods | $ | 1,146 | $ | 906 | |||||||||
Work in process | 61 | 330 | Work in process | 330 | 804 | |||||||||||||
Raw materials | 170 | 255 | Raw materials | 255 | 353 | |||||||||||||
Packaging supplies | 233 | 263 | Packaging supplies | 263 | 234 | |||||||||||||
Total inventories | $ | 1,560 | $ | 1,994 | Total inventories | $ | 1,994 | $ | 2,297 |
CONCENTRATION_OF_CREDIT_RISK_1
CONCENTRATION OF CREDIT RISK (10-K) | 12 Months Ended |
Dec. 31, 2012 | |
CONCENTRATION OF CREDIT RISK (Details) [Abstract] | ' |
CONCENTRATION OF CREDIT RISK (Details) | ' |
NOTE 7. CONCENTRATION OF CREDIT RISK | |
Financial instruments that potentially subject us to significant concentrations of credit risk consist primarily of trade accounts receivable and notes receivable. We perform ongoing credit evaluations on our customers’ financial condition and generally do not require collateral. | |
One customer accounted for approximately 10% and 20% of our sales in 2012 and 2011 and approximately 9% and 16% of our accounts receivable balances at December 31, 2012 and 2011. A second customer accounted for approximately 11% and 6% of our sales in 2012 and 2011 and approximately 30% and 14% of our accounts receivable balances at December 31, 2012 and 2011. A third customer accounted for approximately 7% and 6% of our sales in 2012 and 2011 and approximately 9% and 5% of our accounts receivable balances at December 31, 2012 and 2011. |
PROPERTY_10K
PROPERTY (10-K) | 9 Months Ended | 12 Months Ended | |||||||||||||||||
Sep. 30, 2013 | Dec. 31, 2012 | ||||||||||||||||||
PROPERTY [Abstract] | ' | ' | |||||||||||||||||
PROPERTY | ' | ' | |||||||||||||||||
NOTE 7. PROPERTY | NOTE 8. PROPERTY | ||||||||||||||||||
Property consisted of the following (in thousands): | Property consists of the following (in thousands): | ||||||||||||||||||
September 30, | December 31, | As of December 31, | |||||||||||||||||
2013 | 2012 | 2012 | 2011 | Estimated Useful Lives | |||||||||||||||
Land | $ | 389 | $ | 403 | Land | $ | 403 | $ | 420 | ||||||||||
Furniture and fixtures | 357 | 358 | Furniture and fixtures | 358 | 363 | 5-10 years | |||||||||||||
Plant | 14,964 | 14,362 | Plant | 14,362 | 14,122 | 25-30 years, or life of lease | |||||||||||||
Computer and software | 1,452 | 1,407 | Computer and software | 1,407 | 1,352 | 3-5 years | |||||||||||||
Leasehold improvements | 200 | 189 | Leasehold improvements | 189 | 189 | 3-7 years or life of lease | |||||||||||||
Machinery and equipment | 15,298 | 15,053 | Machinery and equipment | 15,053 | 17,249 | 5-10 years | |||||||||||||
Construction in progress | 7,098 | 9,118 | Construction in progress | 9,118 | 5,710 | ||||||||||||||
Property | 39,758 | 40,890 | Subtotal | 40,890 | 39,405 | ||||||||||||||
Less accumulated depreciation | 13,938 | 12,433 | Less accumulated depreciation | 12,433 | 11,410 | ||||||||||||||
Property, net | $ | 25,820 | $ | 28,457 | Property, net | $ | 28,457 | $ | 27,995 | ||||||||||
Included in accounts payable at September 30, 2013, is $0.6 million related to amounts payable for capital expansion project additions. | Our Lake Charles, Louisiana facility was built at a cost of $3.8 million to process rice bran from a rice milling company adjacent to the facility. The facility is built on leased land which is owned by the rice milling company. The facility was idled in May 2009 due to lack of orders. We recorded a $2.3 million impairment loss on the facility in 2009. The facility is not classified as held for sale due to potential alternative uses and because we are not aggressively marketing the property. We evaluated, and continue to evaluate, alternate uses of the facility. Depreciation on the facility has continued after the facility was idled. As of December 31, 2012, the net book value of the idled facility included in property, net, was $1.7 million. | ||||||||||||||||||
We also own equipment purchased in 2009 for use in the Lake Charles, Louisiana facility. In 2012 and 2011, we recorded impairments of $1.1 million and $0.6 million on the Lake Charles equipment. | |||||||||||||||||||
Property includes machinery and equipment that has never been installed or operated, which totals $1.4 million at December 31, 2012. |
INTANGIBLE_ASSETS_10K
INTANGIBLE ASSETS (10-K) | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2012 | |||||||||||||||||||||||||
INTANGIBLE ASSETS [Abstract] | ' | ||||||||||||||||||||||||
INTANGIBLE ASSETS | ' | ||||||||||||||||||||||||
NOTE 9. INTANGIBLE ASSETS | |||||||||||||||||||||||||
Intangible assets consist of the following (in thousands): | |||||||||||||||||||||||||
USA Segment | Brazil Segment | Total | |||||||||||||||||||||||
Customer | Customer | Intangible | |||||||||||||||||||||||
Patents | Trademarks | Lists | Trademarks | Lists | Assets | ||||||||||||||||||||
31-Dec-12 | |||||||||||||||||||||||||
Cost | $ | 1,697 | $ | 48 | $ | 2,677 | $ | 3,418 | $ | 1,250 | $ | 9,090 | |||||||||||||
Accumulated amortization | (1,029 | ) | (38 | ) | (2,222 | ) | (2,362 | ) | (864 | ) | (6,515 | ) | |||||||||||||
Net book value | $ | 668 | $ | 10 | $ | 455 | $ | 1,056 | $ | 386 | $ | 2,575 | |||||||||||||
31-Dec-11 | |||||||||||||||||||||||||
Cost | $ | 1,768 | $ | 48 | $ | 2,677 | $ | 3,751 | $ | 1,372 | $ | 9,616 | |||||||||||||
Accumulated amortization | (957 | ) | (35 | ) | (1,888 | ) | (2,056 | ) | (752 | ) | (5,688 | ) | |||||||||||||
Net book value | $ | 811 | $ | 13 | $ | 789 | $ | 1,695 | $ | 620 | $ | 3,928 | |||||||||||||
Estimated useful lives | 17 years | 7 years | 7 years | 7 years | 7 years | ||||||||||||||||||||
We purchased no intangible assets in 2012 or 2011. All changes in the cost of Brazil segment intangibles are due to foreign currency translation. Amortization expense is expected to be $1.1 million in 2013, $1.0 million in 2014, $0.3 million in 2015, $0.1 million in 2016, $0.1 million in 2017 and $0.1 million thereafter. | |||||||||||||||||||||||||
In 2011, we wrote off patents with a net book value of $0.7 million. We determined the projected future cash flows were inadequate to recover the net book value of these patents. |
DEBT_10K
DEBT (10-K) | 9 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Sep. 30, 2013 | Dec. 31, 2012 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
DEBT [Abstract] | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||||||||||
DEBT | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||||||||||
NOTE 9. DEBT | NOTE 10. DEBT | |||||||||||||||||||||||||||||||||||||||||||||||||||||
The following table summarizes current and long-term portions of debt (in thousands). | The following table summarizes current and long-term portions of debt (in thousands): | |||||||||||||||||||||||||||||||||||||||||||||||||||||
September 30, | December 31, | As of December 31, | ||||||||||||||||||||||||||||||||||||||||||||||||||||
2013 | 2012 | 2012 | 2011 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Corporate segment: | Corporate and USA segments: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Senior convertible revolving note, net | $ | 1,608 | $ | - | Senior convertible debentures, net | $ | 1,048 | $ | - | |||||||||||||||||||||||||||||||||||||||||||||
Senior convertible debentures, net | 96 | 1,048 | Subordinated convertible notes, net | 4,041 | 2,126 | |||||||||||||||||||||||||||||||||||||||||||||||||
Subordinated convertible notes, net | 5,230 | 4,041 | Factoring agreement | 28 | 262 | |||||||||||||||||||||||||||||||||||||||||||||||||
Other | 38 | 28 | Other | - | 507 | |||||||||||||||||||||||||||||||||||||||||||||||||
6,972 | 5,117 | 5,117 | 2,895 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Brazil segment: | Brazil segment: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Capital expansion loans | 5,021 | 5,555 | Working capital lines of credit | 2,227 | 1,778 | |||||||||||||||||||||||||||||||||||||||||||||||||
Equipment financing | 210 | 201 | Capital expansion loans | 5,555 | 3,789 | |||||||||||||||||||||||||||||||||||||||||||||||||
Working capital lines of credit | 3,767 | 2,227 | Equipment financing | 201 | 214 | |||||||||||||||||||||||||||||||||||||||||||||||||
Advances on export letters of credit | 3,189 | 3,953 | Advances on export letters of credit | 3,953 | 2,838 | |||||||||||||||||||||||||||||||||||||||||||||||||
Special tax programs | 2,618 | 2,531 | Special tax programs | 2,531 | 3,211 | |||||||||||||||||||||||||||||||||||||||||||||||||
14,805 | 14,467 | 14,467 | 11,830 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Total debt | 21,777 | 19,584 | Total debt | 19,584 | 14,725 | |||||||||||||||||||||||||||||||||||||||||||||||||
Current portion | 9,422 | 8,003 | Current portion | 8,003 | 6,792 | |||||||||||||||||||||||||||||||||||||||||||||||||
Long-term portion | $ | 12,355 | $ | 11,581 | Long-term portion | $ | 11,581 | $ | 7,933 | |||||||||||||||||||||||||||||||||||||||||||||
Required future minimum payments on our debt as of December 31, 2012, follow (in thousands). | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Corporate Segment | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Corporate and USA Segments | Brazil Segment | Total | ||||||||||||||||||||||||||||||||||||||||||||||||||||
As of September 30, 2013, our convertible debt consists of the following components (in thousands): | 2013 | $ | 1,219 | $ | 7,013 | $ | 8,232 | |||||||||||||||||||||||||||||||||||||||||||||||
2014 | 108 | 1,283 | 1,391 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Senior | Subordinated | 2015 | 5,375 | 1,086 | 6,461 | |||||||||||||||||||||||||||||||||||||||||||||||||
Convertible | Senior | Convertible Notes | 2016 | - | 983 | 983 | ||||||||||||||||||||||||||||||||||||||||||||||||
Revolving | Convertible | Halpern | Other | 2017 | - | 976 | 976 | |||||||||||||||||||||||||||||||||||||||||||||||
Note | Debentures | Entities | Investors | Total | Thereafter | - | 3,126 | 3,126 | ||||||||||||||||||||||||||||||||||||||||||||||
Principal outstanding | $ | 1,558 | $ | 97 | $ | 2,600 | $ | 3,419 | $ | 7,674 | $ | 6,702 | $ | 14,467 | $ | 21,169 | ||||||||||||||||||||||||||||||||||||||
Discount | (41 | ) | (3 | ) | (470 | ) | (3,419 | ) | (3,933 | ) | ||||||||||||||||||||||||||||||||||||||||||||
Derivative conversion liabilities | 91 | 2 | 1,267 | 1,833 | 3,193 | Corporate and USA Segments | ||||||||||||||||||||||||||||||||||||||||||||||||
Debt | $ | 1,608 | $ | 96 | $ | 3,397 | $ | 1,833 | $ | 6,934 | ||||||||||||||||||||||||||||||||||||||||||||
Factoring Agreement | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt - current portion | $ | 1,608 | $ | 96 | $ | - | $ | - | $ | 1,704 | ||||||||||||||||||||||||||||||||||||||||||||
Debt - long-term portion | - | - | 3,397 | 1,833 | 5,230 | In January 2011, we entered into a domestic factoring agreement which provides for a $1.0 million credit facility with a bank. We may only borrow to the extent we have qualifying accounts receivable as defined in the agreement. The facility automatically renews for another year on December 31, 2013, unless proper termination notice is given. The bank charges the greater of $2,000 per month or a 2.0% fee on any borrowing. The 2.0% fee increases incrementally for any qualified account with a balance that remains outstanding in excess of 45 days. The average borrowings under this agreement totaled $0.1 million in 2012 and 2011. | ||||||||||||||||||||||||||||||||||||||||||||||||
Senior Convertible Revolving Note | Convertible Debt Outstanding as of December 31, 2012 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Under a revolving credit facility with TCA Global Credit Master Fund, LP (TCA), effective May 2013, as amended July 2013 and October 2013, we may borrow up to $8 million, based on the amount of eligible accounts receivable we provide to secure the repayment of the amounts borrowed. We expect the amount of our eligible receivables will limit our ability to borrow under this facility, such that our outstanding borrowings at any time are less than approximately $2.8 million. Borrowings under the agreement are evidenced by a revolving note which accrues interest at the rate of 12% per year and is due in January 2014. We owe TCA various other fees under the agreement that are expected to average approximately 7% of average borrowings per year. | Convertible debt instruments outstanding as of December 31, 2012, are listed below. | |||||||||||||||||||||||||||||||||||||||||||||||||||||
USA segment accounts receivable collections are required to be directed to a TCA owned account. Collections TCA receives, in excess of amounts due for interest and fees and mandatory minimum cumulative repayments are treated as additional repayments and reduce amounts outstanding. There are minimum repayments beginning in January 2014 and the note must be repaid in full by November 2014. Minimum cumulative repayments are $0.6 million as of March 2014, $1.3 million as of June 2014 and $2.2 million as of September 2014. Until cumulative repayments equal the required minimum, TCA may withhold 20% of collections. We may request, on a weekly basis, that TCA advance us any amounts collected in excess of amounts (i) due for interest and fees and (ii) required to meet the minimum cumulative repayments. During the second and third quarters of 2013, amounts outstanding under the agreement averaged $0.5 million and $1.5 million. | Issuance | Issuance Date of Debt | Principal Amount of Debt (in thousands) | Creditor's Debt Conversion Right | Stated Annual Interest Rate on Debt | Maturity Date of Debt | ||||||||||||||||||||||||||||||||||||||||||||||||
Senior Convertible Debentures | Jul-12 | $ | 1,299 | Convertible January 2013 at $14.00 per share | NA | Jan-14 | ||||||||||||||||||||||||||||||||||||||||||||||||
In May 2013, we borrowed $1.4 million under the TCA revolving note (first tranche). The proceeds net of cash expenses totaled $1.2 million and were used to (i) pay down $0.4 million of debt, (ii) fund a $0.5 million investment in Nutra SA and (iii) for general corporate purposes. In addition to cash expenses, we issued TCA 10,593 shares of our common stock with a market value of $0.2 million at issuance. We also issued warrants to investment bankers with a fair value of $0.1 million for the purchase of 6,000 shares of common stock, exercisable at $0.08 per share, through May 2018. The total $0.5 million costs incurred with the first tranche closing, consisting of $0.3 million of cash expenses and the $0.2 million fair value of the common stock and warrants were recorded as debt issuance costs in other long-term assets and are being amortized to interest expense over the term of the note. | Subordinated Convertible Note | Aug-12 | 150 | Convertible immediately at $14.00 per share | 10 | % | Jul-15 | |||||||||||||||||||||||||||||||||||||||||||||||
Subordinated Convertible Notes | Jul-12 | 850 | Convertible immediately at $14.00 per share | 10 | % | Jul-15 | ||||||||||||||||||||||||||||||||||||||||||||||||
In July 2013, we borrowed an additional $0.6 million under the TCA revolving note (second tranche). The net proceeds of $0.6 million were used to make a $0.1 million investment in Nutra SA and for general corporate purposes. In addition to cash expenses, we issued TCA 20,000 shares of our common stock with a market value of $0.2 million at issuance. We issued warrants to investment bankers with a fair value of less than $0.1 million for the purchase of 2,571 shares of common stock, exercisable at $16.00 per share through July 2018. The total $0.3 million costs incurred with the second tranche closing, consisting of $0.1 million of cash expenses and the $0.1 million fair value of the common stock and warrants were recorded as debt issuance costs in other long-term assets and are being amortized to interest expense over the remaining term of the note. | Subordinated Convertible Note | May-12 | 50 | Convertible immediately at $14.00 per share | 10 | % | Jul-15 | |||||||||||||||||||||||||||||||||||||||||||||||
Subordinated Convertible Notes | Jan-12 | 4,325 | Convertible immediately at $14.00 per share | 10 | % | Jul-15 | ||||||||||||||||||||||||||||||||||||||||||||||||
In October 2013, we borrowed an additional $0.8 million under the TCA revolving note (third tranche). The net proceeds of $0.7 million were used to make a $0.3 million investment in Nutra SA and for general corporate purposes. In addition to cash expenses, we issued TCA 6,667 shares of our common stock with a market value of $0.1 million at issuance. We issued warrants to investment bankers with a fair value of less than $0.1 million for the purchase of 3,429 shares of common stock, exercisable at $16.00 per share through October 2018. The total $0.1 million costs incurred with the third tranche closing, consisting of $0.1 million of cash expenses and the $0.1 million fair value of the common stock and warrants were recorded as debt issuance costs in other long-term assets in the third quarter of 2013 and are also being amortized to interest expense over the remaining term of the note. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
All of the convertible debt instruments listed above contain full ratchet antidilution provisions and require the holders to provide us with at least 61 days notice prior to conversion or exercise to the extent the holder would have a beneficial ownership interest in our common stock in excess of 4.99% of our outstanding common stock immediately after conversion or exercise. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
We have guaranteed that TCA will realize a minimum of $0.5 million when shares of our common stock issued in connection with the three tranches are sold and, as a result of the amendment in October 2013, we must redeem the shares for a cash amount equal to the minimum in monthly installments beginning in January 2014 and ending in October 2014. As of September 30, 2013, the 30,593 shares of common stock issued to TCA in connection with the first and second tranches, are recorded in temporary equity at $0.4 million, the fair value of the shares at issuance, which exceeds the redemption value of the shares at September 30, 2013. The 6,667 shares of common stock issued to TCA in October 2013, will also be carried in temporary equity at the greater of their fair value at issuance or their current redemption value, until the redemption feature lapses. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
In January 2012, we issued a senior convertible debenture and related warrant for $0.8 million, a $0.1 million discount from the debenture’s stated principal amount. We received cash proceeds of $0.6 million, net of cash financing costs. In the third quarter of 2012, this January 2012 debenture was exchanged for a July 2012 debenture with a stated principal amount of $1.0 million, representing the original principal amount plus interest which will accrue through the replacement debenture’s January 2014 maturity. In July 2012, we also issued a new senior convertible debenture and related warrant and received $0.2 million in proceeds, net of financing costs. Each of the July 2012 debentures is convertible immediately at $14.00 per share. Commencing February 2013, we are required to redeem 1/12th of the $1.3 million combined principal each month until the January 2014 maturity date. In lieu of a cash redemption we may elect to redeem the debentures by issuing a number of shares of common stock equal to the monthly redemption amount divided by the lesser of (i) the current debenture conversion price or (ii) 80% of the 20-day volume weighted average trading price of our common stock or (iii) the volume weighted average trading price of our common stock on the day immediately prior to the redemption date less $0.01. The number of shares delivered may not exceed 20% of the number of shares traded in the 20-day trading period prior to payment. The debentures are secured by a senior interest in substantially all of our assets, excluding our interest in Nutra SA. Pursuant to the terms of the debentures, we may not pay any dividends while the debenture is outstanding. Under the terms of the original January 2012 debenture, we had been required to redeem 1/12th of the $0.9 million principal each month commencing August 2012 until the July 2013 maturity date. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Upon an event of default, as defined in the agreement, TCA has the right to voluntarily convert all or any portion of the outstanding principal, interest and other amounts due under the agreement into shares of our common stock at a conversion price equal to 85% of the lowest daily volume weighted average price during the five trading days immediately prior to the conversion date. Because the conversion feature could require us to issue an indeterminate number of shares for settlement, the conversion feature is a derivative liability, classified as debt on our balance sheets. If TCA voluntarily converts, we have guaranteed that TCA will realize a minimum per share, when shares of our common stock issued in connection with the conversion are sold, equal to the volume weighted average price of our common stock during the five trading days immediately prior to the conversion date. As a result of the $0.1 million conversion liability associated with the first tranche and second tranches, we recorded debt discounts at issuance totaling $0.1 million which are amortizing to interest expense over the term of the revolving note. At September 30, 2013, the conversion liability on the revolving note was $0.1 million. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
The January and May 2012 subordinated convertible notes with a face amount of $4.4 million, and the related warrants, were issued in exchange for $1.8 million cash, net of issuance costs, and surrender of then outstanding convertible notes with original principal totaling $2.3 million and a related warrant (old notes and old warrant). Interest is payable monthly at an annual rate of 10%. The notes are secured by a junior interest in substantially all of our assets, excluding our interest in Nutra SA. The old notes and old warrant were held by Baruch Halpern, who became a director concurrent with the January 2012 transaction. In exchange for surrendering the old notes and old warrant and an additional $0.1 million cash investment, we issued a $2.5 million subordinated convertible note and related warrant to a trust beneficially owned by Mr. Halpern (the Halpern Trust). | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
During the term of the agreement, the Corporate and USA segments may not without TCA’s consent or approval, among other things, (i) enter into new debt (ii) make any new investments, except capital expenditures less than $0.3 million per year, (iii) issue or redeem stock, (iv) declare or pay dividends or make other distributions to shareholders, and (v) make loans and distributions of assets to any persons, including affiliates. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
The July and August 2012 subordinated convertible notes with a face amount of $1.0 million, and the related warrants, were issued in exchange for $0.9 million cash, net of issuance costs. The notes are also secured by a junior interest in substantially all of our assets, excluding our interest in Nutra SA. The notes and warrants were issued to four investors who had purchased January and May 2012 subordinated convertible notes and warrants. We issued a $0.1 million subordinated convertible note and related warrant to an entity beneficially owned by Mr. Halpern (together with the Halpern Trust referred to as the Halpern Entities). | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
In connection with the TCA transaction, our factoring agreement was cancelled and we paid the $0.1 million outstanding balance on the agreement in the second quarter of 2013. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
As of December 31, 2012, our convertible debt consists of the following components (in thousands): | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Senior Convertible Debentures | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Notes | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
In the first and second quarter of 2013, the holder of the debentures converted $0.1 million and $0.3 million of the outstanding principal into 7,000 shares and 21,429 shares of our common stock, at a conversion price of $14.00. We recognized, for each conversion, a loss on extinguishment of $0.1 million, representing the difference between the market values of the shares of common stock issued and the $0.1 million and $0.4 million carrying amounts of the debt (including the related derivative conversion liability), on the date of conversion. | Debentures | Halpern Entities | Other Investors | Total | ||||||||||||||||||||||||||||||||||||||||||||||||||
Principal outstanding | $ | (1,299 | ) | $ | (2,600 | ) | $ | (2,775 | ) | $ | (6,674 | ) | ||||||||||||||||||||||||||||||||||||||||||
Under a May 2013 amendment to the senior convertible debenture, we agreed to (i) prepay $0.3 million of the of the outstanding principal and (ii) issue 18,571 shares of common stock to the holder, and the holder agreed to share its senior interest in its collateral pari passu with TCA. The remaining $0.2 million principal is payable in equal monthly installments from July 2013 through December 2013. Prior to the amendment, principal was due in equal monthly installments from June 2013 to January 2014. We expensed the $0.3 million fair value of the shares issued in connection with the amendment and the $0.01 million cash amendment fees as loss on extinguishment. | Discount | 422 | 587 | 2,775 | 3,784 | |||||||||||||||||||||||||||||||||||||||||||||||||
Derivative conversion liabilities | (171 | ) | (980 | ) | (1,048 | ) | (2,199 | ) | ||||||||||||||||||||||||||||||||||||||||||||||
Subordinated Convertible Notes | Debt | $ | (1,048 | ) | $ | (2,993 | ) | $ | (1,048 | ) | (5,089 | ) | ||||||||||||||||||||||||||||||||||||||||||
In the second quarter of 2013, we issued subordinated convertible notes and related warrants, which are described in the chart below. | Debt - current portion | $ | (962 | ) | $ | - | $ | - | $ | (962 | ) | |||||||||||||||||||||||||||||||||||||||||||
Debt - long-term portion | (86 | ) | (2,993 | ) | (1,048 | ) | (4,127 | ) | ||||||||||||||||||||||||||||||||||||||||||||||
Issuance | Principal Amount of Notes (in thousands) | Creditor's Debt Conversion Right | Stated Annual Interest Rate on Debt | Maturity Date of Debt | Number of Shares Under Warrant | Exercise Price of Warrant | Expiration Date of Warrant | |||||||||||||||||||||||||||||||||||||||||||||||
The discount recorded on the subordinated convertible note held by the Halpern Trust and the replacement senior convertible debenture, and the related deferred finance costs are amortized to interest expense under the effective interest method. As a result we are recognizing interest expense on the Halpern Trust subordinated convertible note at an effective interest rate of 20.9% and on the replacement senior convertible debenture at an effective interest rate of 25.1%. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subordinated Convertible Notes and Warrants | $ | 538 | Convertible immediately at $14.00 per share | 10 | % | July 2015 or | 38,400 | Exercisable immediately at $16.00 per share | July 2017 or May 2018 | |||||||||||||||||||||||||||||||||||||||||||||
Jul-16 | The debt discounts on the other senior convertible debentures and subordinated convertible notes are also being amortized to interest expense under the effective interest method. However, because the fair value at issuance of the conversion features and warrants exceeded the proceeds from these issuances, in each case, under the effective interest method, this will result in the debt discount being expensed when the principal of the convertible debt matures or is redeemed, in proportion to the principal reduction. Deferred finance costs are also being amortized to interest expense under the effective interest method, in a similar fashion. | |||||||||||||||||||||||||||||||||||||||||||||||||||||
The convertible debt and warrants listed in the table above contain full ratchet antidilution provisions and require the holders to provide us with 61 day notice prior to conversion or exercise if the holder would have a beneficial ownership interest in excess of 4.99% immediately after conversion or exercise. The $0.5 million of proceeds from issuance of the convertible notes and related warrants was used for repayment of debt and for general corporate purposes. | During 2012 and 2011, we recognized $0.3 million and $0.2 million of accreted interest on the convertible debt. We made no principal payments on convertible debt during 2012 or 2011. | |||||||||||||||||||||||||||||||||||||||||||||||||||||
With regard to the issuances of convertible notes and related warrants listed in the table above, the total of (i) the $0.5 million fair value of the conversion features issued, (ii) the $0.5 million fair value of the liability warrants issued and (iii) the $0.1 million fair value of our common stock issued, exceeded the $0.5 million proceeds from these issuances, therefore we recorded financing costs of $0.6 million in the second quarter of 2013. The initial debt discounts recorded for the convertible notes equaled the principal amount of the notes at issuance. Because the fair value at issuance of the conversion features and warrants exceeded the proceeds from these issuances, in each case, under the effective interest method, this will result in the debt discount being expensed when the principal of the note matures or is redeemed, in proportion to the principal reduction. | 2012 Convertible Debt Issuances | |||||||||||||||||||||||||||||||||||||||||||||||||||||
In May 2013, we entered into agreements to allow each holder of existing subordinated convertible notes and warrants to invest in additional notes and related warrants and which provided that each holder making an additional investment (i) receive 0.0125 shares of our common stock for each dollar invested and (ii) agree to extend the maturity date for all of their notes to July 2016. Further, each holder of outstanding convertible notes could elect (PIK Election), in lieu of receiving cash interest payments otherwise payable though June 2014 on their existing convertible notes to receive (i) an increase in the number of shares of common stock underlying their notes (ii) an equity warrant to purchase shares of our common stock and (ii) 0.0125 shares of our common stock for each dollar of interest otherwise payable through June 2014. Holders making an additional investment were deemed under the agreement to have made a PIK Election. | A summary of the allocation of the proceeds from the 2012 issuances of the senior convertible debenture, subordinated convertible notes and related warrants follows (in thousands). | |||||||||||||||||||||||||||||||||||||||||||||||||||||
One holder made an additional investment in a subordinated convertible note and related warrant of $0.4 million in May 2013 (included in the issuances discussed two paragraphs above), and, as a result, (i) the maturity date on the holder’s outstanding convertible notes in the principal amount of $1.1 million was extended from July 2015 to July 2016 and (ii) we issued 5,000 shares of common stock to the holder. No gain or loss was recognized as a result of the extension of the maturity date of the existing notes as the terms were not substantially different. | First and Second Quarter of 2012 | Third Quarter of 2012 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Debenture | Notes and Warrants | Debentures and Warrants | Notes and Warrants | |||||||||||||||||||||||||||||||||||||||||||||||||||
Other holders of convertible notes in the principal amount of $0.3 million made the PIK Election, without making an additional investment. | and | Halpern | Other | Replace- | Halpern | Other | ||||||||||||||||||||||||||||||||||||||||||||||||
Warrant | Entities | Investors | New | ment | Entities | Investors | Total | |||||||||||||||||||||||||||||||||||||||||||||||
As a consequence of the PIK Elections, in the second quarter of 2013, we issued 3,026 shares of common stock with a fair value of $0.2 million. In lieu of paying certain interest, we (i) increased the shares of common stock underlying the holders’ convertible notes and (ii) issued the holders warrants (PIK warrants) at an exercise price of $16.00 per share, and a May 2018 expiration, as described in the table below: | (Increases) decreases in: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt - principal | $ | (870 | ) | $ | (2,500 | ) | $ | (1,875 | ) | $ | (290 | ) | $ | (139 | ) | $ | (100 | ) | $ | (900 | ) | $ | (6,674 | ) | ||||||||||||||||||||||||||||||
Issuance | Second | Third | Debt - discount | 870 | 630 | 1,875 | 290 | (661 | ) | 100 | 900 | 4,004 | ||||||||||||||||||||||||||||||||||||||||||
Quarter of 2013 | Quarter of 2013 | Debt - derivative conversion liabilities | (296 | ) | (1,942 | ) | (1,448 | ) | (128 | ) | (105 | ) | (69 | ) | (583 | ) | (4,571 | ) | ||||||||||||||||||||||||||||||||||||
Increase in Shares of Common Stock Underlying PIK Warrant | 4,346 | 3,263 | Derivative warrant liabilities | (648 | ) | (2,473 | ) | (1,848 | ) | (273 | ) | (907 | ) | (88 | ) | (746 | ) | (6,983 | ) | |||||||||||||||||||||||||||||||||||
Increase in Shares of Common Stock Underlying Notes | 4,346 | 3,263 | Debt (carrying amount of old note) | - | 2,152 | - | - | - | - | - | 2,152 | |||||||||||||||||||||||||||||||||||||||||||
Increase in Note Principle Under PIK Election | $ | 60,842 | $ | 45,688 | Equity | - | 1,089 | - | - | - | - | - | 1,089 | |||||||||||||||||||||||||||||||||||||||||
Loss on extinguishment | - | 2,986 | - | - | 1,955 | - | - | 4,941 | ||||||||||||||||||||||||||||||||||||||||||||||
The PIK warrants issued after we entered into the TCA debt agreement are carried as derivative liabilities because the TCA debt is convertible into an indeterminate number of shares in the event of a default. Those warrants had a value of less than $0.1 million as of September 30, 2013. Other PIK warrants were recorded in equity at their grant date fair value (less than $0.1 million). We recognized a loss on extinguishment for the difference between the fair value of the consideration issued and the accrued interest as of the date of the PIK election. Changes in fair value from increases in the shares of common stock underlying the PIK warrants and underlying the related convertible notes, related to the PIK Elections are recorded as interest expense. | Financing expense | 168 | - | 1,376 | 141 | 27 | 59 | 413 | 2,184 | |||||||||||||||||||||||||||||||||||||||||||||
Other long -term assets - deferred finance costs | 144 | 65 | 134 | 23 | (148 | ) | 4 | 73 | 295 | |||||||||||||||||||||||||||||||||||||||||||||
Other Notes | Proceeds, net of finance costs | 632 | (7 | ) | 1,786 | 237 | (22 | ) | 94 | 843 | 3,563 | |||||||||||||||||||||||||||||||||||||||||||
In the second quarter of 2013, we also issued to Mr. Halpern a promissory note in the principal amount of $0.1 million, which was paid in full later in the quarter. | We accounted for the July 2012 issuance of the replacement senior convertible debenture in the principal amount of $1.0 million and related warrant as a significant modification to the January 2012 debenture and related warrant. We recognized a loss on extinguishment for the difference between the fair value of the senior convertible debenture and warrant issued and the total of (i) the fair values of the conversion features embedded in the January 2012 debenture (ii) the carrying amount of the old debenture (zero) and (iii) the proceeds received, net of issue costs. | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Brazil Segment | We accounted for the January 2012 issuance of the $2.5 million subordinated convertible note and related warrant to the Halpern Trust as a significant modification to the old notes and warrant held by Mr. Halpern. We recognized a loss on extinguishment for the difference between the fair value of the subordinated convertible note and warrant issued, and the total of (i) the fair values of the conversion features embedded in the old notes, (ii) the fair value of the old warrant, (iii) the carrying amount of the old notes and (iv) the proceeds received, net of issue costs. The old notes’ embedded conversion features and the old warrant did not qualify as separate derivative liabilities and, therefore, we reduced equity by the January 2012 fair value of the embedded conversion features and warrant. | |||||||||||||||||||||||||||||||||||||||||||||||||||||
All Brazil segment debt is denominated in the Brazilian Real (R$), except advances on export letters of credit which are denominated in U.S. Dollars. | The other issuances of senior convertible debentures, subordinated convertible notes and related warrants were not accounted for as significant modifications and the $3.6 million proceeds from those issuances were allocated to convertible debt and warrants. In each case, the fair value of the warrants and embedded conversion features exceeded the proceeds received, which resulted in the recognition of financing expense on the date of issuance. | |||||||||||||||||||||||||||||||||||||||||||||||||||||
In the first quarter of 2013, Irgovel received R$2.0 million ($1.0 million at the first quarter exchange rate) under a working capital line of credit agreement. The lending bank withheld R$1.0 million ($0.5 million) of the amount borrowed in a bank account, until the second quarter of 2013, when Irgovel had sufficient accounts receivable in its borrowing base to withdraw the funds. The working capital line is payable in monthly installments through September 2015 and bears interest at 17.0% per year. | Changes in the fair value of the derivative conversion and warrant liabilities subsequent to issuance are recognized in change in fair value of derivative warrant and conversion liabilities in the statement of operations. The changes in fair value of derivative liabilities as a result of the July 2012 amendment to the January 2012 and May 2012 subordinated convertible notes and related warrants, are also included in change in fair value of derivative warrant and conversion liabilities in the statement of operations. As a result of a July 2012 amendment, the exercise price on the warrants related to the January 2012 and May 2012 subordinated convertible notes decreased from $24.00 per share to $16.00 per share and the number of underlying shares was increased proportionately. In addition the terms of all of the subordinated convertible notes outstanding, were modified such that the maturity date was extended from January and May 2015 to July 2015. | |||||||||||||||||||||||||||||||||||||||||||||||||||||
In the third quarter of 2013, Irgovel converted R$1.6 million of payroll taxes payable into a debt agreement, payable in monthly installments through June 2018 and bears interest at 12.0% per year. | The $2.4 million of the $3.6 million in proceeds from the 2012 issuances of convertible debt and related warrants were used to make the final distributions to the unsecured creditors in January 2012 and the remainder was used for general corporate purposes. | |||||||||||||||||||||||||||||||||||||||||||||||||||||
2011 Convertible Debt Issuances | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
During 2011, we issued several convertibles notes, with related warrants to our financial advisor, who became a director of RiceBran Technologies in January 2012. Below is a summary of the transactions. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Transaction | Principal amount of Note(s) (in thousands) | Stated Annual Interest Rate on Note(s) | Per Share Note Conversion Price | Cash Received in Transaction (in thousands) | Number of Shares Under Equity Warrant(s) | Average Exercise Price of Warrant(s) | ||||||||||||||||||||||||||||||||||||||||||||||||
First quarter 2011 | -1 | $ | 500 | 10 | % | $ | 40 | $ | 500 | 2,500 | $ | 50 | ||||||||||||||||||||||||||||||||||||||||||
Second quarter 2011 | -2 | 730 | 10 | % | 46 | 230 | 3,650 | 46 | ||||||||||||||||||||||||||||||||||||||||||||||
Third quarter 2011, event A | -2 | 270 | 10 | % | 46 | 270 | 1,350 | 46 | ||||||||||||||||||||||||||||||||||||||||||||||
Third quarter 2011, event B | -2 | 730 | 10 | % | 46 | 730 | 3,650 | 46 | ||||||||||||||||||||||||||||||||||||||||||||||
Fourth quarter 2011 | -3 | 2,323 | 10 | % | 40 | 550 | 11,616 | 44 | ||||||||||||||||||||||||||||||||||||||||||||||
Total in 2011 | $ | 2,280 | 22,766 | |||||||||||||||||||||||||||||||||||||||||||||||||||
-1 | The convertible note and the related warrant issued in the first quarter of 2011, were terminated and cancelled in the second quarter of 2011 when the second quarter transaction occurred. | |||||||||||||||||||||||||||||||||||||||||||||||||||||
-2 | The convertible notes and related warrants issued in the second and third quarters of 2011, were terminated and cancelled in the fourth quarter of 2011 when the fourth quarter transaction occurred. | |||||||||||||||||||||||||||||||||||||||||||||||||||||
-3 | The convertible notes and related warrants issued in the fourth quarter of 2011, were terminated and cancelled in the first quarter of 2012, when a subordinated convertible note was issued to the Halpern Entities, as described further below. | |||||||||||||||||||||||||||||||||||||||||||||||||||||
The proceeds received from these transactions were allocated to convertible notes and warrants. We concluded in each case that the warrants were indexed to our common stock and should be recorded as equity. We determined the fair value of each warrant. We then determined the fair value of each convertible note as the total of (i) the fair value of the note, determined by discounting cash flows of the payments due under the note at 25%, plus (ii) the fair value of the related conversion feature. Based on the relative fair values, we allocated the proceeds to the convertible note and equity for the warrant portion. In each case, we concluded that the embedded conversion feature need not be accounted for as a derivative since it was indexed to our common stock. We then determined whether the conversion feature was a beneficial conversion feature based on the effective conversion price. If there was a beneficial conversion feature, the amount of that feature was recorded in equity with an offsetting increase in debt discount for that convertible note. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
We recognized no gain or loss as a result of the 2011 refinancing of any of the convertible notes. During 2011, we received a total of $2.3 million from issuance of the notes and related warrants. We recorded in equity $0.5 million for the warrants and the beneficial conversion features, $0.1 million to other assets and $1.9 million to debt. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Brazil Segment | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
All Brazil segment debt is denominated in the Brazilian Real (R$), except advances on export letters of credit which are denominated in U.S. Dollars. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Capital Expansion Loans | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
In December 2011, Irgovel entered into agreements with the Bank of Brazil. Under the agreements, Irgovel may borrow up to R$2.8 million on one agreement and R$6.7 million on another agreement (a total of $4.7 million based on the December 31, 2012 exchange rate). The annual interest rate on the loans is 6.5%. Interest is payable quarterly on the amounts outstanding and the maturity date of the loans is December 2021. Irgovel must make monthly principal payments under each of the loans with the first payment due on January 2014. Irgovel used R$1.5 million of the proceeds for working capital purposes and the remainder for the purchase of equipment and machinery. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
In July 2012, Irgovel entered into a third agreement with the bank under which it borrowed R$1.7 million ($0.9 million based on the December 31, 2012 exchange rate) for the purchase of certain equipment at an annual interest rate of 5.5%. Interest is payable quarterly on the amounts outstanding and the maturity date of the loans is July 2019. Irgovel must make monthly principal payments under the loan with the first payment due August 2015. The loan is secured by the related equipment. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Equipment Financing | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Irgovel has entered into certain equipment financing arrangements with annual interest rates that range from 13.5% to 21.5%, and average 16.2%. Interest and principal on this debt is payable monthly and payments extend through March 2016. This debt is secured by the related equipment. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Working Capital Lines of Credit | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Irgovel has working capital lines of credit secured by accounts receivable. The total amount of borrowing capacity is R$3.6 million ($1.8 million based on the December 31, 2012, exchange rate) but cannot exceed 40%-100% of the collateral, depending on the agreement. The annual interest rates on this debt range from 12.4% to 44.5%, and average 23.3%. Principal maturities of amounts outstanding at December 31, 2012, extend through May 2014. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Advances on Export Letters of Credit | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Irgovel obtains advances against certain accounts receivable backed by export letters of credit. The annual interest rates on these advances range from 3.7% to 8.0%, and average 5.6%. Principal maturities of amounts outstanding at December 31, 2012, extend through July 2013. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Special Tax Programs | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Irgovel has unsecured notes payable for Brazilian federal and social security taxes under a special Brazilian government tax program. Amounts due under the special tax program are part of an amnesty program relative to unpaid taxes that existed prior to our acquisition of Irgovel in 2008. Principal and interest payments are due monthly through 2022. Interest on the notes is payable monthly at the Brazilian SELIC target rate, which was 7.3% at December 31, 2012. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Irgovel qualified for a modification of one of its special tax program debts. The debt was lowered by $0.3 million in the second quarter of 2011 in exchange for a reduction in available net operating losses for Brazil tax purposes valued at $0.3 million. We recorded no gain or loss on the transaction. Prior to the modification the maturities on this debt ranged from 2011 through 2017. As modified, debt maturities range from 2011 through 2022. |
EQUITY_AND_SHAREBASED_COMPENSA
EQUITY AND SHARE-BASED COMPENSATION (10-K) | 9 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Sep. 30, 2013 | Dec. 31, 2012 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
EQUITY AND SHARE-BASED COMPENSATION [Abstract] | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
EQUITY AND SHARE-BASED COMPENSATION | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
NOTE 13. EQUITY, SHARE-BASED COMPENSATION AND LIABILITY WARRANTS | NOTE 11. EQUITY AND SHARE-BASED COMPENSATION | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
On October 28, 2013, our board of directors approved a 1 for 200 reverse split of our common stock. We began trading on a post split basis on November 18, 2013. All share and per share information has been retrospectively adjusted for all prior periods presented giving retroactive effect to the reverse stock split. Such adjustments include calculations of our weighted averages number of shares outstanding and loss per share, as well as disclosures regarding our share-based compensation and convertible debt. | On October 28, 2013, our board of directors approved a 1 for 200 reverse split of our common stock. We began trading on a post split basis on November 18, 2013. All share and per share information has been retrospectively adjusted for all prior periods presented giving retroactive effect to the reverse stock split. Such adjustments include calculations of our weighted averages number of shares outstanding and loss per share, as well as disclosures regarding our share-based compensation and convertible debt. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
A summary of equity activity for the nine months ended September 30, 2013, (in thousands, except share data) follows. | We have never declared or paid dividends on our common stock and have no plans to pay dividends in the foreseeable future. Pursuant to the terms of the senior convertible debentures, we may not pay any dividends while a debenture is outstanding. Cash provided by operations in our Brazil segment is generally unavailable for distribution to our Corporate and USA segments pursuant to the terms of the limited liability company agreement for Nutra SA. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common Stock | Accumulated | Accumulated Other Comprehensive | Total | In lieu of paying cash to non-employee board members for board retainer fees for the last three quarters of 2011, we issued 6,036 shares of common stock. | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares | Amount | Deficit | Loss | Equity | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Balance, December 31, 2012 | 1,038,080 | $ | 210,396 | $ | (204,420 | ) | $ | (1,540 | ) | $ | 4,436 | A summary of stock option and warrant activity for 2012 and 2011 follows. | ||||||||||||||||||||||||||||||||||||||||||||
Share-based compensation, options | - | 380 | - | - | 380 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Conversion of senior subordinated debenture | 28,429 | 500 | - | - | 500 | Options | Equity and Liability Warrants | |||||||||||||||||||||||||||||||||||||||||||||||||
Common stock issued for fees and services | 37,088 | 613 | - | - | 613 | Shares Under Options | Weighted Average Exercise Price | Weighted Average Remaining Contractual Life (Years) | Shares Under Warrants | Weighted Average Exercise Price | Weighted Average Remaining Contractual Life (Years) | |||||||||||||||||||||||||||||||||||||||||||||
Warrants issued for fees and services | - | 156 | - | - | 156 | Outstanding, January 1, 2011 | 227,426 | $ | 60 | 6.8 | 202,148 | $ | 254 | 2.3 | ||||||||||||||||||||||||||||||||||||||||||
Foreign currency translation | - | - | - | (458 | ) | (458 | ) | Granted | 26,022 | 44 | 25,794 | 46 | ||||||||||||||||||||||||||||||||||||||||||||
Net loss | - | - | (9,851 | ) | - | (9,851 | ) | Impact of anti-dilution clauses | - | NA | 31,517 | NA | ||||||||||||||||||||||||||||||||||||||||||||
Balance September 30, 2013 | 1,103,597 | $ | 212,045 | $ | (214,271 | ) | $ | (1,998 | ) | $ | (4,224 | ) | Exercised | - | NA | - | NA | |||||||||||||||||||||||||||||||||||||||
RiceBran Technologies | Forfeited, expired or cancelled | (60,504 | ) | 72 | (25,512 | ) | 148 | |||||||||||||||||||||||||||||||||||||||||||||||||
Notes to Condensed Consolidated Financial Statements (Unaudited) | Outstanding, December 31, 2011 | 192,944 | 54 | 6.3 | 233,947 | 208 | 1.7 | |||||||||||||||||||||||||||||||||||||||||||||||||
Granted | 29,060 | 30 | 423,782 | 20 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
In June 2013, our shareholders approved an increase in the number of our authorized shares of common stock from 2,500,000 to 6,000,000. | Impact of anti-dilution clauses | - | NA | 518,720 | NA | |||||||||||||||||||||||||||||||||||||||||||||||||||
Impact of amendment | - | NA | 78,215 | NA | ||||||||||||||||||||||||||||||||||||||||||||||||||||
A summary of stock option and warrant activity for the nine months ended September 30, 2013, follows. | Exercised | - | NA | (25,015 | ) | 20 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Forfeited, expired or cancelled | (52,750 | ) | 68 | (422,880 | ) | 86 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Options | Equity and Liability Warrants | Outstanding, December 31, 2012 | 169,254 | $ | 32 | 6.3 | 806,769 | $ | 24 | 3.5 | ||||||||||||||||||||||||||||||||||||||||||||||
Shares Under Options | Weighted Average Exercise Price | Weighted Average Remaining Contractual Life (Years) | Shares Under Warrants | Weighted Average Exercise Price | Weighted Average Remaining Contractual Life (Years) | Exercisable, December 31, 2012 | 143,522 | $ | 34 | 5.9 | 713,969 | $ | 26 | 3.3 | ||||||||||||||||||||||||||||||||||||||||||
Outstanding, December 31, 2012 | 169,254 | $ | 32 | 6.3 | 806,769 | $ | 24 | 3.5 | ||||||||||||||||||||||||||||||||||||||||||||||||
Granted (1) | 37,500 | 16 | 54,581 | 16 | Options | |||||||||||||||||||||||||||||||||||||||||||||||||||
Impact of anti-dilution clauses | - | - | 2,082 | NA | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Exercised | - | - | - | - | Our board of directors adopted our 2010 Equity Incentive Plan (2010 Plan) in February 2010. A total of 125,000 shares of common stock were initially reserved for issuance under the 2010 Plan. The amount reserved increases annually each January 1st by 5% of the outstanding shares as of the prior December 31st. Additionally, in 2011 the board approved an 40,000 increase in the number of shares of common stock reserved under the plan. Under the terms of the 2010 Plan, we may grant options to purchase common stock and shares of common stock to officers, directors, employees or consultants providing services on such terms as are determined by the board of directors. Our board of directors administers the 2010 Plan, determines vesting schedules on plan awards and may accelerate the vesting schedules for award recipients. The options granted under the 2010 Plan have terms of up to 10 years. | |||||||||||||||||||||||||||||||||||||||||||||||||||
Forfeited, expired or cancelled | (27,551 | ) | 54 | (146,106 | ) | 66 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Outstanding, September 30, 2013 | 179,203 | $ | 24.4 | 6.4 | 717,326 | $ | 16 | 3.6 | December 31, | |||||||||||||||||||||||||||||||||||||||||||||||
Exercisable, September 30, 2013 | 144,887 | $ | 26 | 5.9 | 717,326 | $ | 16 | 3.6 | 2012 | |||||||||||||||||||||||||||||||||||||||||||||||
-1 | Includes adjustments to shares underlying PIK warrants. | Initially reserved | 125,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Additionally reserved - annual increases | 99,156 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Options | Additionally reserved - board action | 40,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Options granted since inception, net of forfeited, expired or cancelled | (114,890 | ) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
In April 2013, our board increased the number of shares of common stock that each non-employee director automatically receives annually each January 1 under our 2010 Equity Incentive Plan from 1,250 to 5,000 shares. In connection with the increase in the automatic director grant, in April 2013, our board granted each of our five non-employee directors a stock option to purchase up to 3,750 shares of common stock. Each option has an exercise price of $16.00 per share, vests in nine equal monthly installments ending December 31, 2013, and expires in April 2023. In January 2013, we issued each of those five non-employee directors an option for the purchase of up to 1,250 shares of common stock under the non-employee director automatic grant provision. Each option has an exercise price of $16.00 per share, vests in twelve equal monthly installments ending December 2013, and expires in January 2023. | Stock granted since inception | (60,282 | ) | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Available for issuance under the 2010 Plan | 88,984 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
In April 2013, the Board granted each of the two directors serving on the Strategic Committee and consulting special counsel a stock option to purchase up to 1,250 shares of common stock. Each option has an exercise price of $16.00 per share, vests in twelve equal monthly installments ending in March 2014 and expires in April 2018. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Our board of directors adopted the 2005 Equity Incentive Plan (2005 Plan) in May 2005 and our shareholders approved the 2005 Plan in September 2005. Under the terms of the 2005 Plan, we could grant options to purchase common stock and shares of common stock to officers, directors, employees or consultants providing services on such terms as are determined by the board of directors. Options granted under the 2005 Plan have terms of up to 10 years. There are no longer any shares reserved for future issuance under the 2005 Plan. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
We have outstanding a total of 17,077 options awarded to current and former directors, employees and consultants at various times beginning in 2004 through 2009 that do not fall under the plans described above. Expiration periods, typically ten years, and other terms of these non-plan specific options are not materially different from those issued under the 2010 Plan and 2005 Plan. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
We have outstanding warrants classified as equity (equity warrants) and as derivative warrant liability (liability warrants). We have certain warrant agreements in effect for outstanding liability warrants that contain antidilution clauses. Under the antidilution clauses, in the event of equity issuances, we may be required to lower the exercise price on liability warrants and increase the number of shares underlying liability warrants. Equity issuances may include issuances of our common stock, certain awards of options to employees, and issuances of warrants and/or other convertible instruments below a certain exercise price. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-based compensation expenses related to options are included in selling, general and administrative expenses in the statements of operations, and consisted of the following (in thousands): | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
The April 2013 issuances of convertible debt and related warrants triggered the antidilution clauses in certain warrants and, as a result, we lowered the exercise price and increased the number of underlying shares on those liability warrants in April 2013. The affected warrants subsequently expired later in April 2013 with 146,106 underlying shares. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
RiceBran Technologies | 2012 | 2011 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Notes to Condensed Consolidated Financial Statements (Unaudited) | Consultants | $ | 42 | $ | 14 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Directors | 285 | 280 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
The following table summarizes information related to outstanding warrants: | Employees | 152 | 112 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Executive officers | 444 | 501 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
As of September 30, 2013 | As of December 31, 2012 | Total share-based compensation expense, options | $ | 923 | $ | 907 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Range of Exercise Prices | Type of Warrant | Shares Under Warrants | Weighted Average Exercise Price | Weighted Average Remaining Contractual Life (Years) | Shares Under Warrants | Weighted Average Exercise Price | Weighted Average Remaining Contractual Life (Years) | |||||||||||||||||||||||||||||||||||||||||||||||||
$ | 14.00-$16.00 | Liability (1) | 695,390 | $ | 16 | 3.6 | 656,990 | $ | 16 | 4.2 | The following table summarizes option activity during 2012 and 2011: | |||||||||||||||||||||||||||||||||||||||||||||
$ | 16 | Liability (2) | 4,005 | 16 | 4.8 | - | - | - | ||||||||||||||||||||||||||||||||||||||||||||||||
$ | 16 | Equity | 12,176 | 16 | 4.7 | - | - | - | Employees and Directors | Consultants | ||||||||||||||||||||||||||||||||||||||||||||||
$ | 46 | Equity | 3,029 | 46 | 3.2 | 3,029 | 46 | 3.9 | Weighted Average Exercise Price | Shares Under Options | Weighted Average Exercise Price | Shares Under Options | Total Number of Options | |||||||||||||||||||||||||||||||||||||||||||
$ | 66 | Liability (1) | - | - | - | 144,023 | 66 | 0.3 | Outstanding, January 1, 2011 | $ | 82 | 218,808 | $ | 292 | 8,618 | 227,426 | ||||||||||||||||||||||||||||||||||||||||
$ | 138 | Equity | 2,727 | 138 | 0.1 | 2,727 | 138 | 0.8 | Granted | 42 | 22,022 | 62 | 4,000 | 26,022 | ||||||||||||||||||||||||||||||||||||||||||
717,327 | $ | 16 | 3.6 | 806,769 | $ | 24 | 3.5 | Forfeited, expired or cancelled | 68 | (60,336 | ) | 2,000.00 | (168 | ) | (60,504 | ) | ||||||||||||||||||||||||||||||||||||||||
Exercised | NA | - | NA | - | - | |||||||||||||||||||||||||||||||||||||||||||||||||||
-1 | The warrant contain full ratchet anti-dilution provisions. | Outstanding, December 31, 2011 | 48 | 180,494 | 152 | 12,450 | 192,944 | |||||||||||||||||||||||||||||||||||||||||||||||||
-2 | The warrants are classified as liability warrants because an indeterminate number of shares are issuable under the TCA debt agreement. | Granted | 26 | 28,060 | 16 | 1,000 | 29,060 | |||||||||||||||||||||||||||||||||||||||||||||||||
Forfeited, expired or cancelled | 58 | (50,250 | ) | 266 | (2,500 | ) | (52,750 | ) | ||||||||||||||||||||||||||||||||||||||||||||||||
Exercised | NA | - | NA | - | - | |||||||||||||||||||||||||||||||||||||||||||||||||||
Outstanding, December 31, 2012 | $ | 26 | 158,304 | $ | 106 | 10,950 | 169,254 | |||||||||||||||||||||||||||||||||||||||||||||||||
Exercisable, December 31, 2012 | $ | 28 | 134,155 | $ | 112 | 9,367 | 143,522 | |||||||||||||||||||||||||||||||||||||||||||||||||
Exercisable, December 31, 2011 | $ | 52 | 129,571 | $ | 190 | 8,867 | 138,438 | |||||||||||||||||||||||||||||||||||||||||||||||||
The following are the weighted-average assumptions used in valuing stock options: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2012 | 2011 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair value of options granted | $ | 20 | $ | 38 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Volatility | 109.2 | % | 101.5 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Risk free interest rate | 0.9 | % | 0.8 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Expected life of options (in years) | 6.1 | 5.2 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Expected dividends | - | - | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Forfeiture rate | 5 | % | 5 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||
The following table summarizes information related to outstanding and exercisable options: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
As of December 31, 2012 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Outstanding | Exercisable | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Range of Exercise Prices | Shares Under Options | Weighted Average Exercise Price | Weighted Average Remaining Contractual Life (Years) | Shares Under Options | Weighted Average Exercise Price | Weighted Average Remaining Contractual Life (Years) | ||||||||||||||||||||||||||||||||||||||||||||||||||
$ | 16 | 110,212 | $ | 16 | 7 | 86,063 | $ | 16 | 6.7 | |||||||||||||||||||||||||||||||||||||||||||||||
$ | 28 | 3,540 | 28 | 9.2 | 3,540 | 28 | 9.2 | |||||||||||||||||||||||||||||||||||||||||||||||||
$ | 40 | 34,064 | 40 | 5.6 | 34,064 | 40 | 5.6 | |||||||||||||||||||||||||||||||||||||||||||||||||
$ | 60 | 15,000 | 60 | 2 | 15,000 | 60 | 2 | |||||||||||||||||||||||||||||||||||||||||||||||||
$ | 74 | 3,438 | 74 | 8.2 | 1,855 | 74 | 8.2 | |||||||||||||||||||||||||||||||||||||||||||||||||
$ | 242 | 500 | 242 | 3 | 500 | 242 | 3 | |||||||||||||||||||||||||||||||||||||||||||||||||
$ | 300 | 2,500 | 300 | 0.4 | 2,500 | 300 | 0.4 | |||||||||||||||||||||||||||||||||||||||||||||||||
$ | 16.00 to $300.00 | 169,254 | 32 | 6.3 | 143,522 | 34 | 5.9 | |||||||||||||||||||||||||||||||||||||||||||||||||
In 2012, we issued 15,022 shares of common stock to retiring directors in exchange for the surrender of vested stock options exercisable for 23,710 shares of common stock. The fair value of the options surrendered on the date of the stock issuances was $0.3 million and fair value of the stock at issuances was $0.3 million. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
For 2012, our non-employee directors agreed to accept stock options in lieu of cash representing one half of the board retainer fees to which they otherwise would have been entitled. As a result, we issued options for the purchase of 6,090 shares of common stock in 2012, at an exercise price of $28.00 per share. The stock options vested in installments during 2012. The $0.2 million grant date fair value of the options equaled the cash fees to which the directors were otherwise entitled. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
In 2012, our three executive officers agreed to accept stock options in lieu of receiving their full salary in cash. Our three executive officers received cash equal to either 83.3% or 90.0% of their stated contract salary, as detailed in their employment agreements, and these officers were collectively issued stock options for the purchase of up to 4,263 shares of common stock at an exercise price equal to $24.00 per share. The options vested in installments during 2012. The $0.1 million grant date fair value of the options equaled the officers’ salary forbearance. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
In 2012, we lowered the exercise price on outstanding options held by certain employees for the purchase of up to 108,588 shares of common stock to $16.00 per share from an average exercise price of $38.00 per share. The stock price on the date of the re-pricing was $14.00 per share. No other terms of the options were modified. We recorded expense of less than $0.1 million in 2012, representing the difference between the fair value of the options before and after the modification. Total unrecognized compensation increased less than $0.1 million as a result of the modification. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
In 2011, we entered into amendments to employment agreements with each of our four executive officers. Twenty percent of each officer’s salary for the last six months of 2011 was paid in stock options instead of in cash. The options vested and became exercisable in installments during 2011. Under the amendments we issued options to purchase 10,584 shares of common stock, at an average exercise price of $40.00, and an average initial term of 1.6 years. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
In 2010, we reached an agreement to settle all potential claims associated with the employment of Mr. Brad Edson, our former chief executive officer. The agreement was subject to the approval of the Bankruptcy Court and became effective upon court approval in 2011. Mr. Edson agreed to return to NutraCea $0.4 million, representing a bonus earned in 2008. We recorded a receivable for the return of the bonus. The corresponding income reduced selling, general and administrative expenses in the first quarter of 2011. As partial payment of the receivable, Mr. Edson forfeited 30,000 options granted in 2004 and returned 175 shares of common stock in payment of $0.3 million of his obligation. The options had an exercise price of $60.00 per share and were outstanding and exercisable as of December 31, 2010. We reduced the receivable from Mr. Edson, reduced equity by $0.3 million, and cancelled the options in 2011, when the Bankruptcy Court approved the agreement. The remaining $0.1 million receivable remains unpaid and reserved for due to uncertainty with regard to the collectability of the receivable as of December 31, 2012. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
In 2011, we reached an agreement to settle all potential claims associated with the employment of Mr. Todd Crow, our former chief financial officer. As part of the settlement, Mr. Crow was required to forfeit 8,315 options and return 48 shares of common stock held. The agreement was subject to the approval of the Bankruptcy Court and became effective upon court approval in 2011. We cancelled the stock and options in 2011. The options had an average exercise price of $74.00 per share and were outstanding and exercisable as of December 31, 2010. No value was assigned to the cancelled stock or options because we transferred no cash or other assets in exchange. In connection with the settlement, Mr. Crow agreed to withdraw his $0.2 million bankruptcy claim. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
We have outstanding warrants classified as equity (equity warrants) and as warrant liability (liability warrants). | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Equity Warrants | Liability Warrants | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares Under Equity Warrants | Weighted Average Exercise Price | Weighted Average Remaining Contractual Life (Years) | Shares Under Liability Warrants | Weighted Average Exercise Price | Weighted Average Remaining Contractual Life (Years) | |||||||||||||||||||||||||||||||||||||||||||||||||||
Balance, January 1, 2011 | 2,727 | $ | 138 | 2.8 | 199,421 | $ | 256 | 2.3 | ||||||||||||||||||||||||||||||||||||||||||||||||
Granted | 25,795 | 46 | - | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Impact of antidilution clauses | - | 31,516 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Exercised | - | - | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Forfeited, expired or cancelled | (11,150 | ) | 46 | (14,362 | ) | 226 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Balance, December 31, 2011 | 17,372 | 60 | 3.5 | 216,575 | 220 | 1.5 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Granted | - | - | 423,782 | 20 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Impact of antidilution clauses | - | - | 518,720 | NA | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Impact of amendment | - | - | 78,215 | NA | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Exercised | - | - | (25,015 | ) | 20 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Forfeited, expired or cancelled | (11,616 | ) | 44 | (411,264 | ) | 88 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Outstanding, December 31, 2012 | 5,756 | $ | 90 | 2.4 | 801,013 | $ | 24 | $ | 3.5 | |||||||||||||||||||||||||||||||||||||||||||||||
Exercisable, December 31, 2012 | 5,756 | $ | 90 | 2.4 | 708,213 | $ | 24 | $ | 3.3 | |||||||||||||||||||||||||||||||||||||||||||||||
During the first quarter of 2012, the holder of a liability warrant to purchase 25,016 shares of common stock exercised the warrant on a cashless basis and, as a result, we issued the holder 7,764 shares of our common stock. We transferred the $0.7 million fair value of the liability warrant as of the date of exercise into equity. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
The following table summarizes information related to outstanding and exercisable warrants: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
As of December 31, 2012 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Outstanding | Exercisable | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Range of Exercise Prices | Type of Warrant | Shares Under Warrants | Weighted Average Exercise Price | Weighted Average Remaining Contractual Life (Years) | Shares Under Warrants | Exercise Price | Remaining Contractual Life (Years) | |||||||||||||||||||||||||||||||||||||||||||||||||
$ | 14.00-$16.00 | Liability | 656,990 | $ | 16 | 4.2 | 564,190 | $ | 16 | 4.1 | ||||||||||||||||||||||||||||||||||||||||||||||
$ | 46 | Equity | 3,029 | 46 | 3.9 | 3,029 | 46 | 3.9 | ||||||||||||||||||||||||||||||||||||||||||||||||
$ | 66 | Liability | 144,023 | 66 | 0.3 | 144,023 | 66 | 0.3 | ||||||||||||||||||||||||||||||||||||||||||||||||
$ | 138 | Equity | 2,727 | 138 | 0.8 | 2,727 | 138 | 0.8 | ||||||||||||||||||||||||||||||||||||||||||||||||
806,769 | $ | 24 | 3.5 | 713,969 | $ | 26 | 3.3 | |||||||||||||||||||||||||||||||||||||||||||||||||
We have certain warrant agreements in effect for outstanding liability warrants that contain antidilution clauses. Under the antidilution clauses, in the event of equity issuances, we may be required to lower the exercise price on liability warrants and increase the number of shares underlying liability warrants. Equity issuances may include issuances of our common stock, certain awards of options to employees, and issuances of warrants and/or other convertible instruments below a certain exercise price. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock and warrant issuance to Buyer (Note 12), convertible note and warrant issuances (Note 10), in 2012 and 2011 triggered the antidilution clauses in certain liability warrants and, as a result, we were required to lower the exercise price and increase the number of shares underlying certain liability warrants. In addition, certain amendments required us to lower the exercise price and increase the numbers of shares underlying certain warrants. |
SETTLEMENT_WITH_HERBAL_SCIENCE
SETTLEMENT WITH HERBAL SCIENCE (10-K) | 12 Months Ended |
Dec. 31, 2012 | |
SETTLEMENT WITH HERBAL SCIENCE [Abstract] | ' |
SETTLEMENT WITH HERBAL SCIENCE | ' |
NOTE 12. SETTLEMENT WITH HERBAL SCIENCE | |
In March 2010, Herbal Science Singapore Pte. Ltd. (HS) filed a proof of claim against the Parent Company in the amount of $1.5 million in the Chapter 11 Reorganization. In November 2010, we entered into a stipulated settlement agreement with HS and certain affiliates, which was subsequently approved by the Bankruptcy Court. The stipulation, as amended, provided that we would pay HS $0.9 million. | |
During 2011, we paid $0.4 million of our obligation to HS. In the second quarter of 2011, HS sold their receivable due from us to a third party (Buyer). In settlement of our remaining $0.5 million obligation to Buyer we issued to Buyer 12,884 shares of common stock and a warrant to purchase 3,029 shares, at $46.00 per share, expiring in November 2016, in a noncash transaction. The fair value of the common stock and warrant issued to Buyer exceeded our obligation to the Buyer by $0.2 million. This excess was recorded as a transaction cost in other expense in the second quarter of 2011. The stock had a fair value, based on the closing price of our stock, of $0.6 million. The warrant had a fair value of $0.1 million, determined using Black-Scholes valuation methodology. | |
As a result of the settlement of our obligation to HS in 2011, we became the sole member of Rice Rx, LLC (RRX) and Rice Science, LLC (RS), each Delaware limited liability companies formed with HS in December 2007. Our ownership interest in RRX, increased from 50% to 100% and our ownership interest in RS increased from 80% to 100%. In addition, we were assigned all interests in the patentable pharmaceuticals, SRB isolates and related intellectual property derived from the preliminary research and development activities of RRX and RS. | |
The $0.9 million settlement was comprised of $0.6 million for the satisfaction of liabilities RRX and RS had payable to HS, $0.1 million for interest expense on those liabilities, $0.1 million for reimbursement of HS attorney fees, and $0.1 million for the additional ownership interests in RRX and RS. We used cash to satisfy our obligation to pay the $0.1 million for the ownership interests and $0.3 million of the liabilities to RRX and RS and settled the remainder of the liabilities, interest and attorneys fees, with issuance of the shares of common stock and the warrant to the Buyer. | |
We had a controlling interest in RS prior to the transaction, therefore no gain or loss was recorded with the purchase of the additional RS ownership interests. We recorded the indicated loss, representing the cash paid for the RS ownership interests and the noncontrolling interest derecognized with the transaction, of $0.3 million in equity in 2011. RS had no loss from operations in 2012 or 2011. | |
We increased our interest in RRX from a noncontrolling interest to a controlling interest. Consequently, in the second quarter of 2011, we recorded a loss on the transaction, equal to the cash paid for the RRX ownership interests and the net RRX liabilities assumed, of $0.1 million. The $0.1 million loss on acquisition of the additional interest in RRX is included in other income (expense). RXX had no loss from operations in 2012 or 2011. |
INCOME_TAXES_10K
INCOME TAXES (10-K) | 12 Months Ended | ||||||||
Dec. 31, 2012 | |||||||||
INCOME TAXES [Abstract] | ' | ||||||||
INCOME TAXES | ' | ||||||||
NOTE 13. INCOME TAXES | |||||||||
Deferred tax assets (liabilities) are comprised of the following (in thousands): | |||||||||
As of December 31, | |||||||||
2012 | 2011 | ||||||||
United States | |||||||||
Net operating loss carryforwards | $ | 41,374 | $ | 42,008 | |||||
Gain on sale of membership interests in Nutra SA | 374 | 374 | |||||||
Stock options and warrants | 1,144 | 3,000 | |||||||
Intangible assets | 960 | 577 | |||||||
Property | 5,651 | 4,372 | |||||||
Capitalized expenses | 715 | 1,217 | |||||||
Convertible debt | (399 | ) | - | ||||||
Other | 86 | 283 | |||||||
Deferred tax assets | 49,905 | 51,831 | |||||||
Less: Valuation allowance | (49,905 | ) | (51,831 | ) | |||||
Net deferred tax asset | - | - | |||||||
Brazil | |||||||||
Intangible assets | (490 | ) | (904 | ) | |||||
Property | (2,165 | ) | (2,927 | ) | |||||
Net operating loss carryforwards | 960 | 14 | |||||||
Other | 255 | 209 | |||||||
Net deferred tax liability | (1,440 | ) | (3,608 | ) | |||||
$ | (1,440 | ) | $ | (3,608 | ) | ||||
Deferred tax asset - current | $ | 234 | $ | 159 | |||||
Deferred tax liability - long-term | (1,674 | ) | (3,767 | ) | |||||
$ | (1,440 | ) | $ | (3,608 | ) | ||||
Deferred taxes arise from temporary differences in the recognition of certain expenses for tax and financial reporting purposes. We have determined it is more likely than not that some portion or all of the deferred tax assets will not be realized. Accordingly we have provided a valuation allowance for deferred tax assets. Our valuation allowance is on U.S. deferred tax assets. The change in valuation allowance of $1.9 million in 2012 is due to (i) $1.7 million in net operating loss and other deferred changes from 2012 operations, offset by (ii) the $1.5 million impact of expiring net operating losses and (iii) the $2.1 million impact of adjustments to capitalized expenses and stock option compensation. The change in valuation allowance of $1.3 million in 2011 is primarily due to (i) $3.4 million in net operating loss and other deferred changes from 2011 operations, offset by (ii) the $0.4 million impact for state rate changes and (iii) a $1.7 million adjustment of net operating loss carryforwards to the returns filed. | |||||||||
As of December 31, 2012, net operating loss carryforwards for U.S. federal tax purposes totaled $110.7 million and expire at various dates from 2018 through 2032. Net operating loss carryforwards for state tax purposes totaled $70.3 million as of December 31, 2012, and expire at various dates from 2013 through 2032. As of December 31, 2012, net operating loss carryforwards for Brazil tax purposes totaled $2.8 million and do not expire. | |||||||||
Utilization of net operating loss carryforwards may be subject to substantial annual limitations due to the “change in ownership” provisions of the Internal Revenue Code of 1986, as amended and similar state regulations. The annual limitation may result in the expiration of substantial net operating loss carryforwards before utilization. | |||||||||
We are subject to taxation in the U.S. and various states. We record liabilities for income tax contingencies based on our best estimate of the underlying exposures. We are open for audit by the IRS for years after 2008 and, generally, by U.S. state tax jurisdictions after 2007. We are open for audit by the Brazilian tax authorities for years after 2008. | |||||||||
Loss before income taxes is comprised of the following (in thousands): | |||||||||
2012 | 2011 | ||||||||
Foreign | $ | (5,051 | ) | $ | (2,277 | ) | |||
Domestic | (8,020 | ) | (8,943 | ) | |||||
Loss before income taxes | $ | (13,071 | ) | $ | (11,220 | ) | |||
Foreign earnings are assumed to be permanently reinvested. U.S. federal income taxes have not been provided on undistributed earnings of our foreign subsidiary. | |||||||||
The income tax benefit of $1.9 million in 2012 and $0.3 million in 2011 is all foreign deferred tax benefit. We have no U.S. tax provision or benefit in 2012 or 2011. | |||||||||
Reconciliations between the amount computed by applying the U.S. federal statutory tax rate (34%) to loss before income taxes, and income tax benefit follows (in thousands): | |||||||||
2012 | 2011 | ||||||||
Income tax benefit at federal statutory rate | $ | (4,444 | ) | $ | (3,815 | ) | |||
Increase (decrease) resulting from: | |||||||||
State tax benefit, net of federal tax effect | (251 | ) | (347 | ) | |||||
Change in valuation allowance | (1,926 | ) | 1,313 | ||||||
Adjustment to U.S. net operating losses | - | 1,694 | |||||||
Adjustment to capitalized costs deferred balances | 443 | - | |||||||
Adjustment to stock option compensation deferred balances | 1,602 | - | |||||||
Reduction in deferred balances for forfeited, expired or cancelled options | 602 | - | |||||||
Expiration of U.S. net operating losses | 1,460 | 115 | |||||||
Nontaxable fair value adjustment | (1,843 | ) | (113 | ) | |||||
Nondeductible convertible debt issuance expenses | 2,285 | - | |||||||
Impact of state rate changes | - | 437 | |||||||
Nondeductible expenses | 10 | 18 | |||||||
Foreign taxes | 6 | (6 | ) | ||||||
Adjustments to Brazil deferred balances | (222 | ) | 429 | ||||||
Adjustments to U.S. deferred balances | 343 | (70 | ) | ||||||
Income tax benefit | $ | (1,935 | ) | $ | (345 | ) | |||
We have not identified any uncertain tax positions requiring a reserve as of December 31, 2012 or 2011. |
RECOVERIES_FROM_FORMER_CUSTOME
RECOVERIES FROM FORMER CUSTOMERS (10-K) | 12 Months Ended |
Dec. 31, 2012 | |
RECOVERIES FROM FORMER CUSTOMERS [Abstract] | ' |
RECOVERIES FROM FORMER CUSTOMERS | ' |
NOTE 14. RECOVERIES FROM FORMER CUSTOMERS | |
In 2011, pursuant to a settlement agreement with a former customer, we received $0.8 million in connection with a 2007 transaction with that customer. We shipped products in 2007 to the customer and no revenue was recognized for the transaction under revenue recognition rules. The customer had not remitted payment prior to the settlement. The $0.8 million received is included in recoveries from former customers in the statements of operations for 2011. | |
In 2007, we closed on the sale of certain products to a customer. The applicable criteria for revenue recognition were not met at that time. The $1.0 million deposit we received in the transaction was carried as an other long-term liability on our balance sheet since 2007 until the fourth quarter of 2011, when we eliminated the liability upon the resolution of certain legal matters associated with the transaction. We recognized a reduction in operating expenses in the amount of $1.0 million, which is recorded in recoveries from former customers in the statements of operations for 2011. |
COMMITMENTS_AND_CONTINGENCIES_
COMMITMENTS AND CONTINGENCIES (10-K) | 9 Months Ended | 12 Months Ended |
Sep. 30, 2013 | Dec. 31, 2012 | |
COMMITMENTS AND CONTINGENCIES [Abstract] | ' | ' |
COMMITMENTS AND CONTINGENCIES | ' | ' |
NOTE 12. COMMITMENTS AND CONTINGENCIES | NOTE 15. COMMITMENTS AND CONTINGENCIES | |
In addition to the matters discussed below, from time to time we are involved in litigation incidental to the conduct of our business. When applicable, we record accruals for contingencies when it is probable that a liability will be incurred and the amount of loss can be reasonably estimated. While the outcome of lawsuits and other proceedings against us cannot be predicted with certainty, in the opinion of management, individually or in the aggregate, no such lawsuits are expected to have a material effect on our financial position or results of operations. Defense costs are expensed as incurred and are included in professional fees. | Employment Contracts | |
Purchase Commitments | We have entered into employment and other agreements with certain executives and other employees that provide for compensation and certain other benefits. These agreements provide for severance payments under certain circumstances. | |
As of September 30, 2013, future capital expenditures on the Brazil segment capital expansion project are expected to total R$2.5 million ($1.1 million at the September 30, 2013 exchange rate) of which R$1.3 million ($0.6 million) was included in accounts payable as of September 30, 2013. We have a firm commitment and are obligated under contract for R$1.0 million ($0.4 million) of the future capital expenditures as of September 30, 2013. | In the normal course of business, we periodically enter into employment agreements which incorporate indemnification provisions. While the maximum amount to which we may be exposed under such agreements cannot be reasonably estimated, we maintain insurance coverage, which we believe will effectively mitigate our obligations under these indemnification provisions. No amounts have been recorded in our financial statements with respect to any obligations under such agreements. | |
Litigation | Leases | |
Irgovel Purchase | We lease certain properties under various operating lease arrangements that expire over the next twenty one years. These leases generally provide us with the option to renew the lease at the end of the lease term. Future minimum payments under these commitments as of December 31, 2012, are as follows: $0.4 million for 2013; $0.3 million for 2014; $0.3 million in 2015; $0.3 million in 2016, $0.1 million in 2017 and $1.2 million thereafter. We incurred lease expense of $0.4 million in 2012 and $0.5 million in 2011. | |
On August 28, 2008, former Irgovel stockholder David Resyng filed an indemnification suit against Irgovel, Osmar Brito and the remaining former Irgovel stockholders (Sellers), requesting: (i) the freezing of the escrow account maintained in connection with the transfer of Irgovel’s corporate control to us and the presentation of all documentation related to the transaction, and (ii) damages in the amount of the difference between (a) the sum received by David Resyng in connection with the judicial settlement agreement executed in the action for the partial dissolution of the limited liability company filed by David Resyng against Irgovel and the Sellers and (b) the amount received by the Sellers in connection with the sale of Irgovel’s corporate control to us, in addition to moral damages as determined in the court’s discretion. The amount of damage claimed by Mr. Resyng is approximately $3 million. | Litigation | |
We believe that the filing of the above lawsuit is a fundamental default of the obligations undertaken by the Sellers under the Quotas Purchase Agreement for the transfer of Irgovel’s corporate control, executed by and among the Sellers and us on January 31, 2008 (Purchase Agreement). Consequently, we believe that the responsibility for any indemnity, costs and expenses incurred or that may come to be incurred by Irgovel and/or us in connection with the above lawsuit is the sole responsibility of the Sellers. | In addition to the matters discussed below, from time to time we are involved in litigation incidental to the conduct of our business. When applicable, we record accruals for contingencies when it is probable that a liability will be incurred and the amount of loss can be reasonably estimated. While the outcome of lawsuits and other proceedings against us cannot be predicted with certainty, in the opinion of management, individually or in the aggregate, no such lawsuits are expected to have a material effect on our financial position or results of operations. | |
On February 6, 2009, the Sellers filed a collection lawsuit against us seeking payment of the second installment of the purchase price under the Purchase Agreement, which the Sellers allege is approximately $1.0 million. We have withheld payment of the second installment pending resolution of the Resyng lawsuit noted above. Our parent company has not been served with any formal notices in regard to this matter. To date, only Irgovel has received formal legal notice. In addition, the Purchase Agreement requires that all disputes between us and the Sellers be adjudicated through arbitration. As part of the Purchase Agreement, $2.0 million was deposited into an escrow account to cover contingencies with the net remaining funds payable to the Sellers upon resolution of all contingencies. We believe any payout due to the lawsuit will be made out of the escrow account. As of September 30, 2013 and December 31, 2012, the balance in the escrow account was $1.9 million and is included in restricted cash in our balance sheets. There is an escrow liability related to the lawsuit in accrued expenses on our balance sheets as of September 30, 2013 and December 31, 2012, totaling $1.3 million and $1.4 million. When the escrow account was funded, we established an accrued liability equal to the amount of the escrow for contingencies and the net balance due to the Sellers under the terms of the Purchase Agreement. As of September 30, 2013, $0.7 million of pre-acquisition contingencies have either been paid or specifically identified and accrued, leaving a balance of $1.4 million to settle any remaining contingencies. We believe that there is no additional material exposure as any amounts determined to be owed as a result of the above noted litigation and contingencies will be covered by the escrow account. We agreed to pay ninety percent of any funds received from the escrow account to Nutra SA, with no resulting change in our Nutra SA voting rights. | Defense costs are expensed as incurred and are included in professional fees. | |
Diabco Life Sciences, LLC | Irgovel Stockholders Lawsuit | |
In January 2012, we filed a complaint in the Superior Court of California, Sacramento County, seeking damages arising out of Diabco Life Sciences, LLC’s (Diabco) breach of a 2008 promissory note in the principal amount of $0.5 million. A one-day court trial took place in August 2013, at which time Diabco stipulated that total damages through July 2013, including interest and late fees, amounted to $0.9 million. In September 2013, the court issued its tentative statement of decision indicating that judgment will be entered in our favor in the amount of $0.9 million as of July 2013, plus interest. We are awaiting the court’s final statement of decision at which time judgment will be entered thereon. We have not yet been able to assess the likelihood of realization of any judgment, if or when it is entered, and have no receivable from Diabco recorded in the accompanying financial statements. | On August 28, 2008, former Irgovel stockholder David Resyng filed an indemnification suit against Irgovel, Osmar Brito and the remaining former Irgovel stockholders (Sellers), requesting: (i) the freezing of the escrow account maintained in connection with the transfer of Irgovel’s corporate control to us and the presentation of all documentation related to the transaction, and (ii) damages in the amount of the difference between (a) the sum received by David Resyng in connection with the judicial settlement agreement executed in the action for the partial dissolution of the limited liability company filed by David Resyng against Irgovel and the Sellers and (b) the amount received by the Sellers in connection with the sale of Irgovel’s corporate control to us, in addition to moral damages as determined in the court’s discretion. The amount of damage claimed by Mr. Resyng is approximately $3 million. | |
We believe that the filing of the above lawsuit is a fundamental default of the obligations undertaken by the Sellers under the Quotas Purchase Agreement for the transfer of Irgovel’s corporate control, executed by and among the Sellers and us on January 31, 2008 (Purchase Agreement). Consequently, we believe that the responsibility for any indemnity, costs and expenses incurred or that may come to be incurred by Irgovel and/or us in connection with the above lawsuit is the sole responsibility of the Sellers. | ||
On February 6, 2009, the Sellers filed a collection lawsuit against us seeking payment of the second installment of the purchase price under the Purchase Agreement, which the Sellers allege is approximately $1.0 million. We have withheld payment of the second installment pending resolution of the Resyng lawsuit noted above. The Parent Company has not been served with any formal notices in regard to this matter so far. To date, only Irgovel has received formal legal notice. In addition, the Purchase Agreement requires that all disputes between us and the Sellers be adjudicated through arbitration. As part of the Purchase Agreement, $2.0 million was deposited into an escrow account to cover contingencies with the net remaining funds payable to the Sellers upon resolution of all contingencies. We believe any payout due to the lawsuit will be made out of the escrow account. As of December 31, 2012 and 2011, the balance in the escrow account was $1.9 million and is included in restricted cash in our balance sheets. There is an escrow liability related to the lawsuit in accrued expenses on our balance sheets as of December 31, 2012 and 2011 totaling $1.4 million and $1.9 million. When the escrow account was funded, we established an accrued liability equal to the amount of the escrow for contingencies and the net balance due to the Sellers under the terms of the Purchase Agreement. As of December 31, 2012, $0.6 million of pre-acquisition contingencies have either been paid or specifically identified and accrued, leaving a balance of $1.4 million to settle any remaining contingencies. We believe that there is no additional material exposure as any amounts determined to be owed as a result of the above noted litigation and contingencies will be covered by the escrow account. |
EMPLOYEE_BONUS_PLAN_10K
EMPLOYEE BONUS PLAN (10-K) | 9 Months Ended | 12 Months Ended |
Sep. 30, 2013 | Dec. 31, 2012 | |
EMPLOYEE BONUS PLAN [Abstract] | ' | ' |
EMPLOYEE BONUS PLAN | ' | ' |
NOTE 11. EMPLOYEE BONUS PLAN | NOTE 16. EMPLOYEE BONUS PLAN | |
In 2010, our board of directors approved a cash incentive bonus plan. As of November 12, 2013, the plan, as amended, provides for payment of $0.6 million to employees, still employed at the time of payment, when (i) we are cash flow positive, defined by our board as earnings before interest, taxes, depreciation, amortization and certain non-cash charges, and (ii) cash is available for the payment as determined by our board at its sole discretion. In 2013, our board of directors approved an executive bonus plan which provides for payments of $0.3 million to employees, still employed at the time of payment, when cash is available for the payment as determined by our board at its sole discretion. Because the consolidated operating cash flow and cash availability conditions were not met as of September 30, 2013, and December 31, 2012, our board of directors has not approved payments and no accruals have been recorded for these bonuses. | In 2010, our board of directors approved a cash incentive bonus plan. As of December 31, 2012, the plan provided for payment of $0.5 million to employees, employed at the time of payment, if all of the following conditions are met: (i) court approval of our Plan of Reorganization and successfully exiting the Chapter 11 bankruptcy process, (ii) being cash flow positive, defined by our board as earnings before interest, taxes, depreciation, amortization and certain non-cash charges, and (iii) cash availability as determined by our board at its sole discretion. Because the consolidated operating cash flow condition and cash availability condition were not met as of December 31, 2012 and 2011, our board of directors has not approved payments and no accruals have been recorded. |
RELATED_PARTY_TRANSACTIONS_10K
RELATED PARTY TRANSACTIONS (10-K) | 9 Months Ended | 12 Months Ended | ||||||||
Sep. 30, 2013 | Dec. 31, 2012 | |||||||||
RELATED PARTY TRANSACTIONS [Abstract] | ' | ' | ||||||||
RELATED PARTY TRANSACTIONS | ' | ' | ||||||||
NOTE 16. RELATED PARTY TRANSACTIONS | NOTE 17. RELATED PARTY TRANSACTIONS | |||||||||
Transactions with Director Baruch Halpern | Transactions with Director Baruch Halpern | |||||||||
In January 2012, Baruch Halpern became a member of our board of directors. Mr. Halpern is the principal in Halpern Capital, Inc. (HC). Under a February 2011 financial advisor agreement, we were obligated to pay HC success fees ranging from 2.5% to 5.0% of the consideration received from certain equity, convertible securities or debt transactions. We were also required to issue warrants to purchase shares of common stock that equaled from 2.5% to 5.0% of the consideration received in those transactions, divided by either the market price of the common stock or the conversion price of the securities issued in the transaction. This agreement terminated April 1, 2012, however we remained obligated to pay HC success fees and issue HC warrants on any transaction with an investor introduced by HC though March 31, 2013. | In January 2012, Baruch Halpern became a member of our board of directors. Mr. Halpern is the principal in Halpern Capital, Inc. (HC). Under a February 2011 financial advisor agreement we are obligated to pay HC success fees ranging from 2.5% to 5.0% of the consideration received from certain equity, convertible securities or debt transactions. We must also issue warrants to purchase shares of common stock that equal from 2.5% to 5.0% of the consideration received in those transactions, divided by either the market price of the common stock or the conversion price of the securities issued in the transaction. This agreement terminated April 1, 2012, however, we remain obligated to pay HC success fees and issue HC warrants on any transaction with an investor introduced by HC occurring though March 31, 2013. | |||||||||
During the three months ended March 31, 2012, in connection with the January 2012 issuances of the subordinated convertible notes and senior convertible note, and related warrants, HC received $0.1 million in cash fees under the financial advisor agreement. Mr. Halpern also received warrants exercisable for 3,563 shares of our common stock at $20.00 per share and warrants exercisable for 750 shares of our common stock at $30.00 per share, which were owed to HC under the financial advisor agreement. During the three months ended March 31, 2013, HC received no success fees or transaction warrants. | In connection with the issuance of convertible debt in 2012 we issued the transactional warrants listed below under the terms of our financial advisor agreement with HC. | |||||||||
In January 2012, we agreed to extend the expiration dates on certain liability warrants, held by Mr. Halpern and his family, for the purchase of 25,833 shares of common stock at an exercise price of $20.00 per share from July 2014 to January 2017. The resulting $0.1 million change in the fair value of the warrants increased other income (expense). | Date of Warrants | Number of Shares Under Warrants | Exercise Price of Warrant | Expiration Date of Warrant | ||||||
(1) | ||||||||||
Mr. Halpern held as of September 30, 2013 and December 31, 2012, $2.6 million of subordinated convertible notes. During the three and nine months ended September 30, 2013, we accrued $0.1 million and $0.2 million of interest on the convertible notes beneficially owned by Mr. Halpern and paid $0.1 million and $0.1 million of interest. During the three and nine months ended September 30, 2012, we accrued $0.1 million and $0.2 million of interest on the convertible notes beneficially owned by Mr. Halpern and paid $0.1 million and $0.2 million of interest. During the three and nine months ended September 30, 2012, we received $0.1 million of cash in connection with issuances of convertible debt and related warrants to entities beneficially owned by Mr. Halpern. We made no convertible note principal payments in any period presented. | Jan-12 | 1,250 | Exercisable immediately at $30.00 per share (2) | Jan-17 | ||||||
Jan-12 | 5,563 | Exercisable immediately at $20.00 per share (2) | Jan-17 | |||||||
In April 2013, we issued a promissory note in the principal amount of $0.1 million to Mr. Halpern. The note bore interest at 10% and was repaid in full in May 2013. | May-12 | 63 | Exercisable immediately at $20.00 per share (2) | May-17 | ||||||
Jul-12 | 711 | Exercisable immediately at $14.00 per share | Jul-17 | |||||||
During the three months ended March 31, 2012, we paid HC $0.4 million relevant to HC’s class 6 general unsecured creditor claim as part of our payment obligations under the Amended Plan of Reorganization. The claim represented payment for services rendered prior to the November 2009 bankruptcy petition filing. | Aug-12 | 268 | Exercisable immediately at $14.00 per share | Aug-17 | ||||||
Other Transactions with Directors and Officer | -1 | All of the transactional warrants contain full ratchet antidilution provisions and require the holders to provide us with at least 61 days notice prior to conversion or exercise to the extent the holder would have a beneficial ownership interest in our common stock in excess of 4.99% of our outstanding common stock immediately after conversion or exercise. | ||||||||
W. John Short, CEO and director, invested $50 thousand in the January 2012 subordinated convertible notes and related warrants and $25 thousand in the April 2013 subordinated convertible notes and related warrants. During the three and nine months ended September 30, 2013, we paid less than $1 thousand of interest on the convertible notes and during the nine months ended September 30, 2012, we paid $2 thousand of interest. In June 2013, Mr. Short made a PIK Election for interest accruing under the notes from February 2013 through June 2014. In connection with the election, we issued to Mr. Short 82 shares of common stock and a PIK warrant, currently with 204 underlying shares of common stock, and we increased the shares underlying Mr. Short’s convertible notes by 204 shares as payment for interest accruing under the convertible notes from February 2013 through September 2013. | -2 | As a result of the July 31, 2012, issuances of convertible debt and related warrants, the exercise prices on these transactional warrants were reduced under the full ratchet antidilution provisions included in the transactional warrants, to $14.00 per share and the number of underlying shares increased to equal the number of original underlying shares times the initial exercise price divided by $14.00 per share. | ||||||||
Other transactions with Mr. Halpern, HC and Halpern Entities are summarized below (in thousands): | ||||||||||
2012 | 2011 | |||||||||
Success fees earned by HC under financial advisor agreement payable in cash | $ | 164 | $ | 26 | ||||||
Proceeds received from Mr. Halpern and Halpern Entities upon issuance of convertible debt and related warrants | 213 | 1,739 | ||||||||
Interest earned by Halpern Entities on convertible debt | 302 | 225 | ||||||||
Payments to HC relevant to HC's class 6 general unsecured creditor claim | 256 | 754 | ||||||||
As of December 31, 2012 and 2011, there was less than $0.1 million in accounts payable or accrued expenses due to Mr. Halpern, HC or the Halpern Entities. | ||||||||||
In January 2012, we agreed to extend the expiration dates on certain liability warrants held by Mr. Halpern and others, for the purchase of 25,833 shares of common stock at an exercise price of $20.00 per share from July 2014 to January 2017. The resulting $0.1 million change in the fair value of the warrants was expensed in other income (expense). | ||||||||||
As a result of the amendment discussed in Note 10, the terms of Mr. Halpern’s January 2012 subordinated convertible note were modified such that the maturity date was extended from January to July 2015, the exercise price on the related warrant was reduced from $24.00 per share to $16.00 per share and the number of underlying shares on those warrants was increased from 125,000 to 178,572. Had the warrant not been amended, the exercise price would have reduced to $14.00 per share under the antidilution provisions in the warrant. | ||||||||||
Transactions with Other Directors | ||||||||||
In April 2012, Henk Hoogenkamp became a member of our board of directors. In 2011, Mr. Hoogenkamp performed consulting services for us under an independent contractor agreement. Under the agreement, as amended, we agreed to pay Mr. Hoogenkamp a total of $0.1 million as compensation for services in 2011. In addition, we issued to Mr. Hoogenkamp 750 shares of our common stock which fully vested on December 31, 2011. In June 2011, we entered into an amendment to the independent contractor agreement, which reduced the scope of the consulting services and reduced his compensation during the last six months of 2011. Mr. Hoogenkamp agreed to be paid less than $0.1 million for his consulting services in 2011 and we agreed to extend the exercise period for certain stock options issued to Mr. Hoogenkamp for the purchase of up to 2,200 shares of our common stock to June 30, 2015. The change in fair value of the warrants was less than $0.1 million. Effective January 1, 2012, under a new one-year independent contractor consulting agreement, we issued Mr. Hoogenkamp 5,000 shares of our common stock, which were to vest in twelve equal monthly installments during 2012. In April 2012, in connection with Mr. Hoogenkamp’s appointment to the Board of Directors, we terminated the independent contractor agreement and agreed to immediately vest all of the 5,000 shares of common stock previously granted. During 2012 and 2011, we paid and expensed less than $0.1 million for cash fees owed under the independent contractor agreements. We expensed $0.1 million in both 2012 and 2011 for common stock issued under the independent contractor agreements. | ||||||||||
W. John Short (CEO and director), Zanesville Partners Fund, LLC, which is beneficially owned by James C. Lintzenich (former director), and the Edward L. McMillan Revocable Trust, which is beneficially owned by Edward L. McMillan (former director), collectively invested $0.1 million in the January 2012 subordinated convertible notes and related warrants issuance. During 2012, we paid and expensed less than $0.1 million for interest on these three subordinated convertible notes. |
SEGMENT_INFORMATION_10K
SEGMENT INFORMATION (10-K) | 9 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||||
Sep. 30, 2013 | Dec. 31, 2012 | |||||||||||||||||||||||||||||||||
SEGMENT INFORMATION [Abstract] | ' | ' | ||||||||||||||||||||||||||||||||
SEGMENT INFORMATION | ' | ' | ||||||||||||||||||||||||||||||||
NOTE 14. SEGMENT INFORMATION | NOTE 18. SEGMENT INFORMATION | |||||||||||||||||||||||||||||||||
The tables below present segment information for the periods identified and provide reconciliations of segment information to total consolidated information (in thousands). | We have three reportable business segments: (i) Corporate; (ii) USA, which manufactures and distributes SRB in various granulations along with other products derived from rice bran via proprietary and patented enzyme treatment processes; and (iii) Brazil, which extracts crude RBO and DRB from rice bran, which are then further processed into a number of valuable human food and animal nutrition products. The Corporate segment includes selling, general and administrative expenses including public company expenses, litigation, and other expenses not directly attributable to other segments. No Corporate allocations are made to the other segments. General corporate interest is not allocated. | |||||||||||||||||||||||||||||||||
Three Months Ended September 30, 2013 | Corporate | USA | Brazil | Consolidated | The table below presents segment information for the years identified and provides a reconciliation of segment information to total consolidated information (in thousands). | |||||||||||||||||||||||||||||
Revenues | $ | - | $ | 3,065 | $ | 5,660 | $ | 8,725 | ||||||||||||||||||||||||||
Cost of goods sold | - | 2,332 | 5,623 | 7,955 | 2012 | |||||||||||||||||||||||||||||
Gross profit | - | 733 | 37 | 770 | Corporate | USA | Brazil | Consolidated | ||||||||||||||||||||||||||
Depreciation and amortization (in selling, general and administrative) | (6 | ) | (119 | ) | (177 | ) | (302 | ) | ||||||||||||||||||||||||||
Other operating expense | (1,292 | ) | (622 | ) | (1,218 | ) | (3,132 | ) | Revenues | $ | - | $ | 12,633 | $ | 25,090 | $ | 37,723 | |||||||||||||||||
Loss from operations | $ | (1,298 | ) | $ | (8 | ) | $ | (1,358 | ) | $ | (2,664 | ) | Cost of goods sold | - | 8,946 | 22,705 | 31,651 | |||||||||||||||||
Gross profit | - | 3,687 | 2,385 | 6,072 | ||||||||||||||||||||||||||||||
Net loss attributable to RiceBran Technologies shareholders | $ | (1,433 | ) | $ | (8 | ) | $ | (630 | ) | $ | (2,071 | ) | Intersegment fees | 347 | - | (347 | ) | - | ||||||||||||||||
Interest expense | 666 | - | 418 | 1,084 | Depreciation and amortization (in selling, general and administrative) | (197 | ) | (1,006 | ) | (859 | ) | (2,062 | ) | |||||||||||||||||||||
Depreciation (in cost of goods sold) | - | 207 | 468 | 675 | Impairment of property | - | (1,069 | ) | - | (1,069 | ) | |||||||||||||||||||||||
Purchases of property | 6 | 19 | 1,026 | 1,051 | Other operating expenses | (4,768 | ) | (2,364 | ) | (4,496 | ) | (11,628 | ) | |||||||||||||||||||||
Loss from operations | $ | (4,618 | ) | $ | (752 | ) | $ | (3,317 | ) | $ | (8,687 | ) | ||||||||||||||||||||||
Nine Months Ended September 30, 2013 | Corporate | USA | Brazil | Consolidated | ||||||||||||||||||||||||||||||
Revenues | $ | - | $ | 9,099 | $ | 17,723 | $ | 26,822 | Net loss attributable to RiceBran Technologies shareholders | $ | (7,046 | ) | $ | (770 | ) | $ | (1,693 | ) | $ | (9,509 | ) | |||||||||||||
Cost of goods sold | - | 6,895 | 16,913 | 23,808 | Interest expense | (743 | ) | (17 | ) | (1,166 | ) | (1,926 | ) | |||||||||||||||||||||
Gross profit | - | 2,204 | 810 | 3,014 | Depreciation (in cost of goods sold) | - | (899 | ) | (1,651 | ) | (2,550 | ) | ||||||||||||||||||||||
Depreciation and amortization (in selling, general and administrative) | (17 | ) | (358 | ) | (576 | ) | (951 | ) | Purchases of property | 1 | 150 | 6,331 | 6,482 | |||||||||||||||||||||
Other operating expense | (3,627 | ) | (1,743 | ) | (3,404 | ) | (8,774 | ) | Property, net, end of period | 36 | 8,731 | 19,690 | 28,457 | |||||||||||||||||||||
Loss from operations | $ | (3,644 | ) | $ | 103 | $ | (3,170 | ) | $ | (6,711 | ) | Goodwill, end of period | - | - | 4,773 | 4,773 | ||||||||||||||||||
Intangible assets, net, end of period | - | 1,133 | 1,442 | 2,575 | ||||||||||||||||||||||||||||||
Net income (loss) attributable to RiceBran Technologies shareholders | $ | (8,255 | ) | $ | 103 | $ | (1,699 | ) | $ | (9,851 | ) | Total assets, end of period | 3,201 | 11,609 | 32,196 | 47,006 | ||||||||||||||||||
Interest expense | 1,541 | - | 1,338 | 2,879 | ||||||||||||||||||||||||||||||
Depreciation (in cost of goods sold) | - | 665 | 1,359 | 2,024 | ||||||||||||||||||||||||||||||
Purchases of property | 12 | 147 | 2,142 | 2,301 | 2011 | |||||||||||||||||||||||||||||
Corporate | USA | Brazil | Consolidated | |||||||||||||||||||||||||||||||
Three Months Ended September 30, 2012 | Corporate | USA | Brazil | Consolidated | ||||||||||||||||||||||||||||||
Revenues | $ | - | $ | 3,065 | $ | 6,284 | $ | 9,349 | Revenues | $ | - | $ | 10,700 | $ | 26,257 | $ | 36,957 | |||||||||||||||||
Cost of goods sold | - | 2,184 | 5,289 | 7,473 | Cost of goods sold | - | 7,566 | 21,820 | 29,386 | |||||||||||||||||||||||||
Gross profit | - | 881 | 995 | 1,876 | Gross profit | - | 3,134 | 4,437 | 7,571 | |||||||||||||||||||||||||
Depreciation and amortization (in selling, general and administrative) | (175 | ) | (145 | ) | (201 | ) | (521 | ) | Intersegment fees | (439 | ) | - | 439 | - | ||||||||||||||||||||
Intersegment fees | 57 | - | (57 | ) | - | Depreciation and amortization (in selling, general and administrative) | (119 | ) | (1,306 | ) | (1,226 | ) | (2,651 | ) | ||||||||||||||||||||
Impairment of property | - | - | - | - | Impairment of intangibles and property | (240 | ) | (1,352 | ) | - | (1,592 | ) | ||||||||||||||||||||||
Other operating expense | (836 | ) | (662 | ) | (1,211 | ) | (2,709 | ) | Recoveries from former customers | - | 1,800 | - | 1,800 | |||||||||||||||||||||
Loss from operations | $ | (954 | ) | $ | 74 | $ | (474 | ) | $ | (1,354 | ) | Other operating expenses | (5,556 | ) | (3,728 | ) | (5,428 | ) | (14,712 | ) | ||||||||||||||
Loss from operations | $ | (6,354 | ) | $ | (1,452 | ) | $ | (1,778 | ) | $ | (9,584 | ) | ||||||||||||||||||||||
Net income (loss) attributable to RiceBran Technologies shareholders | $ | (220 | ) | $ | 73 | $ | (221 | ) | $ | (368 | ) | |||||||||||||||||||||||
Interest expense | 173 | - | 325 | 498 | Net loss attributable to RiceBran Technologies shareholders | $ | (6,875 | ) | $ | (1,631 | ) | $ | (1,593 | ) | $ | (10,099 | ) | |||||||||||||||||
Depreciation (in cost of goods sold) | - | 179 | 399 | 578 | Interest expense | (619 | ) | (180 | ) | (964 | ) | (1,763 | ) | |||||||||||||||||||||
Purchases of property | - | 6 | 2,025 | 2,031 | Depreciation (in cost of goods sold) | - | (993 | ) | (1,336 | ) | (2,329 | ) | ||||||||||||||||||||||
Purchases of property | - | 98 | 6,769 | 6,867 | ||||||||||||||||||||||||||||||
Nine Months Ended September 30, 2012 | Corporate | USA | Brazil | Consolidated | Property, net, end of period | 263 | 11,899 | 15,833 | 27,995 | |||||||||||||||||||||||||
Revenues | $ | - | $ | 9,629 | $ | 19,177 | $ | 28,806 | Goodwill, end of period | - | - | 5,240 | 5,240 | |||||||||||||||||||||
Cost of goods sold | - | 6,737 | 16,689 | 23,426 | Intangible assets, net, end of period | - | 1,612 | 2,316 | 3,928 | |||||||||||||||||||||||||
Gross profit | - | 2,892 | 2,488 | 5,380 | Total assets, end of period | 4,672 | 14,219 | 33,341 | 52,232 | |||||||||||||||||||||||||
Depreciation and amortization (in selling, general and administrative) | (246 | ) | (784 | ) | (661 | ) | (1,691 | ) | ||||||||||||||||||||||||||
Intersegment fees | 169 | - | (169 | ) | - | All changes in goodwill between December 31, 2012 and December 31, 2011, relate to foreign currency translation. | ||||||||||||||||||||||||||||
Impairment of property | - | (1,069 | ) | - | (1,069 | ) | ||||||||||||||||||||||||||||
Other operating expense | (3,559 | ) | (1,959 | ) | (3,711 | ) | (9,229 | ) | The following table presents revenues data by geographic area (in thousands): | |||||||||||||||||||||||||
Loss from operations | $ | (3,636 | ) | $ | (920 | ) | $ | (2,053 | ) | $ | (6,609 | ) | ||||||||||||||||||||||
2012 | 2011 | |||||||||||||||||||||||||||||||||
Net loss attributable to RiceBran Technologies shareholders | $ | (7,229 | ) | $ | (937 | ) | $ | (1,232 | ) | $ | (9,398 | ) | ||||||||||||||||||||||
Interest expense | 494 | 17 | 792 | 1,303 | United States | $ | 16,177 | $ | 9,178 | |||||||||||||||||||||||||
Depreciation (in cost of goods sold) | - | 714 | 1,218 | 1,932 | Brazil | 18,266 | 19,141 | |||||||||||||||||||||||||||
Purchases of property | - | 72 | 5,752 | 5,824 | Other international | 3,280 | 8,638 | |||||||||||||||||||||||||||
Total revenues | $ | 37,723 | $ | 36,957 | ||||||||||||||||||||||||||||||
The tables below present segment information for selected balance sheet accounts (in thousands). | ||||||||||||||||||||||||||||||||||
Corporate | USA | Brazil | Consolidated | |||||||||||||||||||||||||||||||
As of September 30, 2013 | ||||||||||||||||||||||||||||||||||
Inventories | $ | - | $ | 885 | $ | 675 | $ | 1,560 | ||||||||||||||||||||||||||
Property, net | 59 | 7,442 | 18,319 | 25,820 | ||||||||||||||||||||||||||||||
Goodwill | - | - | 4,331 | 4,331 | ||||||||||||||||||||||||||||||
Intangible assets, net | - | 836 | 854 | 1,690 | ||||||||||||||||||||||||||||||
Total assets | 3,328 | 10,122 | 28,376 | 41,826 | ||||||||||||||||||||||||||||||
As of December 31, 2012 | ||||||||||||||||||||||||||||||||||
Inventories | - | 764 | 1,230 | 1,994 | ||||||||||||||||||||||||||||||
Property, net | 36 | 8,731 | 19,690 | 28,457 | ||||||||||||||||||||||||||||||
Goodwill | - | - | 4,773 | 4,773 | ||||||||||||||||||||||||||||||
Intangible assets, net | - | 1,133 | 1,442 | 2,575 | ||||||||||||||||||||||||||||||
Total assets | 3,201 | 11,609 | 32,196 | 47,006 | ||||||||||||||||||||||||||||||
All changes in goodwill between December 31, 2012 and September 30, 2013, relate to foreign currency translation. Corporate segment total assets include cash, restricted cash, property and other assets. | ||||||||||||||||||||||||||||||||||
The following table presents revenue by geographic area for the three and nine months ended September 30, 2013 and 2012 (in thousands). | ||||||||||||||||||||||||||||||||||
Three Months | Nine Months | |||||||||||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||||||||||||
United States | $ | 3,052 | $ | 2,685 | $ | 9,714 | $ | 8,501 | ||||||||||||||||||||||||||
Brazil | 4,048 | 4,626 | 13,845 | 14,397 | ||||||||||||||||||||||||||||||
Other international | 1,625 | 2,038 | 3,263 | 5,908 | ||||||||||||||||||||||||||||||
Total revenues | $ | 8,725 | $ | 9,349 | $ | 26,822 | $ | 28,806 |
FAIR_VALUE_MEASUREMENT_10K
FAIR VALUE MEASUREMENT (10-K) | 9 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||
Sep. 30, 2013 | Dec. 31, 2012 | |||||||||||||||||||||||||||||||||||||||||||||||||
FAIR VALUE MEASUREMENT [Abstract] | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||||||
FAIR VALUE MEASUREMENT | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||||||
NOTE 15. FAIR VALUE MEASUREMENT | NOTE 19. FAIR VALUE MEASUREMENT | |||||||||||||||||||||||||||||||||||||||||||||||||
The fair value of cash and cash equivalents, accounts and other receivables and accounts payable approximates their carrying value due to their shorter maturities. As of September 30, 2013, the fair value of our USA segment debt is approximately $2.6 million higher than the carrying value of that debt, based on current market rates for similar debt with similar maturities. The fair value of our Brazil segment debt approximates the carrying value of that debt based on the current market rates for similar debt with similar maturities. | The fair value of cash and cash equivalents, accounts and other receivables and accounts payable approximates their carrying value due to their shorter maturities. As of December 31, 2012, the fair value of our USA segment debt is approximately $2.5 million higher than the carrying value of that debt, based on current market rates for similar debt with similar maturities. The fair value of our Brazil segment debt approximates the carrying value of that debt based on the current market rates for similar debt with similar maturities. | |||||||||||||||||||||||||||||||||||||||||||||||||
Fair value is based on the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Certain assets and liabilities are presented in the financial statements at fair value. Assets and liabilities measured at fair value on a recurring basis include derivative warrant and conversion liabilities. Assets and liabilities measured at fair value on a non-recurring basis may include property. | Fair value is based on the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Certain assets and liabilities are presented in the financial statements at fair value. Assets and liabilities measured at fair value on a recurring basis include derivative warrant and conversion liabilities. Assets and liabilities measured at fair value on a non-recurring basis may include property. | |||||||||||||||||||||||||||||||||||||||||||||||||
We assess the inputs used to measure fair value using a three-tier hierarchy based on the extent to which inputs used in measuring fair value are observable in the market: | We assess the inputs used to measure fair value using a three-tier hierarchy based on the extent to which inputs used in measuring fair value are observable in the market: | |||||||||||||||||||||||||||||||||||||||||||||||||
● | Level 1 – inputs include quoted prices for identical instruments and are the most observable. | ● | Level 1 – inputs include quoted prices for identical instruments and are the most observable. | |||||||||||||||||||||||||||||||||||||||||||||||
● | Level 2 – inputs include quoted prices for similar assets and observable inputs such as interest rates, currency exchange rates and yield curves. | ● | Level 2 – inputs include quoted prices for similar assets and observable inputs such as interest rates, currency exchange rates and yield curves. | |||||||||||||||||||||||||||||||||||||||||||||||
● | Level 3 – inputs are not observable in the market and include management’s judgments about the assumptions market participants would use in pricing the asset or liability. | ● | Level 3 – inputs are not observable in the market and include management’s judgments about the assumptions market participants would use in pricing the asset or liability. | |||||||||||||||||||||||||||||||||||||||||||||||
For instruments measured using Level 3 inputs, a reconciliation of the beginning and ending balances is disclosed. | For instruments measured using Level 3 inputs, a reconciliation of the beginning and ending balances is disclosed. | |||||||||||||||||||||||||||||||||||||||||||||||||
The following tables summarize the fair values by input hierarchy of items measured at fair value on a recurring basis on our consolidated balance sheets (in thousands): | The following tables summarize the fair values by input hierarchy of items measured at fair value on a recurring basis on our consolidated balance sheets (in thousands): | |||||||||||||||||||||||||||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | Level 1 | Level 2 | Level 3 | Total | |||||||||||||||||||||||||||||||||||||||||||
30-Sep-13 | 31-Dec-12 | |||||||||||||||||||||||||||||||||||||||||||||||||
Derivative warrant liabilities | -1 | $ | - | $ | - | $ | (6,508 | ) | $ | (6,508 | ) | Derivative warrant liabilities | -1 | $ | - | $ | - | $ | (4,520 | ) | $ | (4,520 | ) | |||||||||||||||||||||||||||
Derivative conversion liabilities | -2 | - | - | (3,193 | ) | (3,193 | ) | Derivative conversion liabilities | -2 | - | - | (2,199 | ) | (2,199 | ) | |||||||||||||||||||||||||||||||||||
Total liabilities at fair value | $ | - | $ | - | $ | (9,701 | ) | $ | (9,701 | ) | Total liabilities at fair value | $ | - | $ | - | $ | (6,719 | ) | $ | (6,719 | ) | |||||||||||||||||||||||||||||
31-Dec-12 | 31-Dec-11 | |||||||||||||||||||||||||||||||||||||||||||||||||
Derivative warrant liabilities | -1 | $ | - | $ | - | $ | (4,520 | ) | $ | (4,520 | ) | Derivative warrant liabilities | -1 | $ | - | $ | - | $ | (1,296 | ) | $ | (1,296 | ) | |||||||||||||||||||||||||||
Derivative conversion liabilities | -2 | - | - | (2,199 | ) | (2,199 | ) | Total liabilities at fair value | $ | - | $ | - | $ | (1,296 | ) | $ | (1,296 | ) | ||||||||||||||||||||||||||||||||
Total liabilities at fair value | $ | - | $ | - | $ | (6,719 | ) | $ | (6,719 | ) | ||||||||||||||||||||||||||||||||||||||||
-1 | These warrants are valued using the lattice model each reporting period and the resultant change in fair value is recorded in the statements of operations. The lattice model requires us to assess the probability of future issuance of equity instruments at a price lower than the current exercise price of the warrants. The risk-free interest rate is determined by reference to the treasury yield curve rate of instruments with the same term as the warrant. Additional assumptions that were used to calculate fair value follow. | |||||||||||||||||||||||||||||||||||||||||||||||||
-1 | These warrants are valued using the lattice model each reporting period and the resultant change in fair value is recorded in the statements of operations. The lattice model requires us to assess the probability of future issuance of equity instruments at a price lower than the current exercise price of the warrants. The risk-free interest rate is determined by reference to the treasury yield curve rate of instruments with the same term as the warrant. Additional assumptions that were used to calculate fair value follow. | |||||||||||||||||||||||||||||||||||||||||||||||||
31-Dec-12 | 31-Dec-11 | |||||||||||||||||||||||||||||||||||||||||||||||||
30-Sep-13 | 31-Dec-12 | Risk-free interest rate | 0.1% - 0.7% | 0.1% - 0.8% | ||||||||||||||||||||||||||||||||||||||||||||||
Risk-free interest rate | 0.0% - 1.4% | 0.1% - 0.7% | (0.6% weighted average) | (0.2% weighted average) | ||||||||||||||||||||||||||||||||||||||||||||||
(1.0% weighted average) | (0.6% weighted average) | Expected volatility | 93% | 84% | ||||||||||||||||||||||||||||||||||||||||||||||
Expected volatility | 90% | 93% | ||||||||||||||||||||||||||||||||||||||||||||||||
-2 | These conversion liabilities are valued using a lattice model each reporting period and the resultant change in fair value is recorded in the statements of operations. The lattice model requires us to assess the probability of future issuance of equity instruments at a price lower than the current conversion price of the debt. The risk-free interest rate is determined by reference to the treasury yield curve rate of instruments with the same term as the underlying debt. Additional assumptions that were used to calculate fair value follow. | |||||||||||||||||||||||||||||||||||||||||||||||||
-2 | These conversion liabilities are valued using a lattice model each reporting period and the resultant change in fair value is recorded in the statements of operations. The lattice model requires us to assess the probability of future issuance of equity instruments at a price lower than the current conversion price of the debt. The risk-free interest rate is determined by reference to the treasury yield curve rate of instruments with the same term as the underlying debt. Additional assumptions that were used to calculate fair value follow. | |||||||||||||||||||||||||||||||||||||||||||||||||
31-Dec-12 | ||||||||||||||||||||||||||||||||||||||||||||||||||
30-Sep-13 | 31-Dec-12 | Risk-free interest rate | 0.2-0.3% | |||||||||||||||||||||||||||||||||||||||||||||||
Risk-free interest rate | 0.0-0.6% | 0.2-0.3% | (0.3% weighted average) | |||||||||||||||||||||||||||||||||||||||||||||||
(0.4% weighted average) | (0.3% weighted average) | Expected volatility | 93% | |||||||||||||||||||||||||||||||||||||||||||||||
Expected volatility | 90% | 93% | ||||||||||||||||||||||||||||||||||||||||||||||||
The following tables summarize the changes in level 3 items measured at fair value on a recurring basis (in thousands): | ||||||||||||||||||||||||||||||||||||||||||||||||||
The following tables summarize the changes in level 3 items measured at fair value on a recurring basis (in thousands): | ||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value as of Beginning of Period | Total Realized and Unrealized Gains (Losses) | Issuance of New Instruments | Net Transfers (Into) Out of Level 3 | Fair Value, at End of Period | Change in Unrealized Gains (Losses) on Instruments Still Held | |||||||||||||||||||||||||||||||||||||||||||||
Fair Value as of Beginning of Period | Total Realized and Unrealized Gains (Losses) | Issuance of New Instruments | Net Transfers (Into) Out of Level 3 | Fair Value, at End of Period | Change in Unrealized Gains (Losses) on Instruments Still Held | 2012 | -1 | |||||||||||||||||||||||||||||||||||||||||||
-1 | Derivative warrant liability | $ | (1,296 | ) | $ | 3,048 | $ | (6,983 | ) | $ | 711 | (2) | $ | (4,520 | ) | $ | 3,320 | |||||||||||||||||||||||||||||||||
Nine Months Ended September 30, 2013 | Derivative conversion liability | - | 2,372 | (4,466 | ) | (105 | )(3) | (2,199 | ) | 2,372 | ||||||||||||||||||||||||||||||||||||||||
Derivative warrant liability | $ | (4,520 | ) | $ | (1,413 | ) | $ | (575 | ) | $ | - | $ | (6,508 | ) | $ | (1,413 | ) | Total Level 3 fair value | $ | (1,296 | ) | $ | 5,420 | $ | (11,449 | ) | $ | 606 | $ | (6,719 | ) | $ | 5,692 | |||||||||||||||||
Derivative conversion liability | (2,199 | ) | (505 | ) | (588 | ) | 99 | -2 | (3,193 | ) | (896 | ) | ||||||||||||||||||||||||||||||||||||||
Total Level 3 fair value | $ | (6,719 | ) | $ | (1,918 | ) | $ | (1,163 | ) | $ | 99 | $ | (9,701 | ) | $ | (2,309 | ) | 2011 | ||||||||||||||||||||||||||||||||
Derivative warrant liability | $ | (1,628 | ) | $ | 332 | $ | - | $ | - | $ | (1,296 | ) | $ | 332 | ||||||||||||||||||||||||||||||||||||
Nine Months Ended September 30, 2012 | Total Level 3 fair value | $ | (1,628 | ) | $ | 332 | $ | - | $ | - | $ | (1,296 | ) | $ | 332 | |||||||||||||||||||||||||||||||||||
Derivative warrant liability | $ | (1,296 | ) | $ | 1,142 | $ | (6,983 | ) | $ | 711 | -2 | $ | (6,426 | ) | $ | 1,414 | ||||||||||||||||||||||||||||||||||
Derivative conversion liability | - | 2,866 | (4,466 | ) | (105 | ) | (1,705 | ) | 2,866 | -1 | Included in change in fair value of derivative warrant and conversion liabilities in our consolidated statements of operations. | |||||||||||||||||||||||||||||||||||||||
Total Level 3 fair value | $ | (1,296 | ) | $ | 4,008 | $ | (11,449 | ) | $ | 606 | $ | (8,131 | ) | $ | 4,280 | -2 | Represents transfers to equity as a result of a holder exercising a warrant. | |||||||||||||||||||||||||||||||||
-3 | Represents an adjustment to loss on extinguishment as a result of issuing the replacement senior convertible debenture. | |||||||||||||||||||||||||||||||||||||||||||||||||
-1 | Included in change in fair value of derivative warrant and conversion liabilities in our consolidated statements of operations. | |||||||||||||||||||||||||||||||||||||||||||||||||
-2 | Represents transfers to equity as a result of the exercise of a warrant in 2012 and conversion of debt in 2013. | The following tables summarize the fair values by input hierarchy of items measured at fair value in our balance sheets on a nonrecurring basis (in thousands): | ||||||||||||||||||||||||||||||||||||||||||||||||
The following tables summarize the fair values by input hierarchy of items measured at fair value in our balance sheets on a nonrecurring basis (in thousands). | 2012 | |||||||||||||||||||||||||||||||||||||||||||||||||
As of December 31, 2012 | Impairment | |||||||||||||||||||||||||||||||||||||||||||||||||
2013 | Level 1 | Level 2 | Level 3 | Total | Losses | |||||||||||||||||||||||||||||||||||||||||||||
As of September 30, 2013 | Impairment | (1 | ) | |||||||||||||||||||||||||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | Losses | Property, net | -1 | $ | - | $ | - | $ | 1,058 | $ | 1,058 | $ | 1,069 | ||||||||||||||||||||||||||||||||||
(1 | ) | Property, net | $ | - | $ | - | $ | 1,058 | $ | 1,058 | $ | 1,069 | ||||||||||||||||||||||||||||||||||||||
Property, net | -1 | $ | - | $ | - | $ | 394 | $ | 394 | $ | 300 | |||||||||||||||||||||||||||||||||||||||
Property, net | $ | - | $ | - | $ | 394 | $ | 394 | $ | 300 | -1 | During 2012, machinery and equipment not currently in use was evaluated for impairment and as a result was written down to estimated fair value. Fair value is an estimate of net realizable value comprised of an estimate of proceeds from sale, based on an internal evaluation of market conditions, less estimated costs to sell. The estimate of net realizable value is subject to change. | ||||||||||||||||||||||||||||||||||||||
2012 | ||||||||||||||||||||||||||||||||||||||||||||||||||
As of December 31, 2012 | Impairment | |||||||||||||||||||||||||||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | Losses | ||||||||||||||||||||||||||||||||||||||||||||||
(1 | ) | |||||||||||||||||||||||||||||||||||||||||||||||||
Property, net | -1 | $ | - | $ | - | $ | 1,058 | $ | 1,058 | $ | 1,069 | |||||||||||||||||||||||||||||||||||||||
Property, net | $ | - | $ | - | $ | 1,058 | $ | 1,058 | $ | 1,069 | ||||||||||||||||||||||||||||||||||||||||
-1 | Machinery and equipment not currently in use was evaluated for impairment and as a result was written down to estimated fair value in the first quarter of 2013 and the second quarter of 2012. Fair value is an estimate of net realizable value comprised of an estimate of proceeds from sale, based on an internal evaluation of market conditions, less estimated costs to sell. The estimate of net realizable value is subject to change. |
SUBSEQUENT_EVENTS_10K
SUBSEQUENT EVENTS (10-K) | 12 Months Ended |
Dec. 31, 2012 | |
SUBSEQUENT EVENTS [Abstract] | ' |
Subsequent Events | ' |
NOTE 20. SUBSEQUENT EVENTS | |
In 2011, we entered into a joint research and development agreement with a partner with the goal of developing technology to extract and concentrate protein from rice bran. In March 2013, the agreement was mutually terminated. We each received (i) the right to separately develop, modify and improve the jointly developed technology and (ii) nonexclusive, nonroyalty-bearing license rights to separately exploit the technology. We agreed to pay the partner a total of $1.3 million, which is payable in four equal quarterly installments beginning June 2013, or, alternatively, $1.2 million as a lump sum in June 2013. | |
In March 2013, W. John Short (CEO and director) and Baruch Halpern (director) loaned us collectively $0.1 million. | |
In March 2013, our board of directors agreed to defer receipt of their cash board fees for an indeterminate period of time. |
BASIS_OF_PRESENTATION_10Q
BASIS OF PRESENTATION (10-Q) | 9 Months Ended |
Sep. 30, 2013 | |
BASIS OF PRESENTATION [Abstract] | ' |
BASIS OF PRESENTATION | ' |
NOTE 1. BASIS OF PRESENTATION | |
In the opinion of management, the accompanying unaudited condensed consolidated financial statements of RiceBran Technologies and subsidiaries were prepared in accordance with accounting principles generally accepted in the United States of America (GAAP) and the rules and regulations of the Securities and Exchange Commission (SEC) for reporting on Form 10-Q; therefore, as permitted under these rules, certain footnotes and other financial information included in audited financial statements were condensed or omitted. The Interim Financial Statements contain all adjustments necessary to present fairly the interim results of operations, financial position and cash flows for the periods presented. | |
These interim financial statements should be read in conjunction with the consolidated financial statements and notes thereto in our Annual Report on Form 10-K for the year ended December 31, 2012. The report of our independent registered public accounting firm that accompanies the audited consolidated financial statements for the year ended December 31, 2012, included in that Annual Report on Form 10-K, contains a going concern explanatory paragraph in which our independent registered public accounting firm expressed substantial doubt about our ability to continue as a going concern. We have experienced significant losses and negative cash flows and have an accumulated deficit in excess of $200 million as of September 30, 2013. Further, although we are focusing on raising additional funds to operate our business, there can be no assurances that these efforts will prove successful. | |
The interim results reported in these condensed consolidated financial statements are not necessarily indicative of the results to be expected for the full fiscal year, or any other future period, and have been prepared assuming we will continue as a going concern based on the realization of assets and the satisfaction of liabilities in the normal course of business. | |
Certain reclassifications have been made to amounts reported for the prior year to achieve consistent presentation with the current year. | |
Recent Accounting Pronouncements | |
There are no recent accounting pronouncements that are applicable to us and adoption of which could potentially have a material impact on our consolidated financial statements. |
BUSINESS_10Q
BUSINESS (10-Q) | 9 Months Ended | 12 Months Ended |
Sep. 30, 2013 | Dec. 31, 2012 | |
BUSINESS [Abstract] | ' | ' |
BUSINESS | ' | ' |
NOTE 2. BUSINESS | NOTE 2. GENERAL BUSINESS | |
We are a human food ingredient, nutritional supplement, and animal nutrition company focused on the procurement, bio-refining and marketing of numerous products derived from rice bran. We have proprietary and patented intellectual property that allows us to convert rice bran, one of the world’s most underutilized food sources, into a number of highly nutritious human food and animal nutrition products. Our target markets are human food and animal nutrition manufacturers and retailers, as well as natural food, functional food and nutraceutical supplement manufacturers and retailers, both domestically and internationally. We have developed a bio-refining approach to processing raw rice bran into various value added constituents such as stabilized rice bran (SRB), rice bran oil (RBO), defatted rice bran (DRB) and a variety of other valuable derivative products from each of these core products. | We are a human food ingredient and animal nutrition company focused on the procurement, bio-refining and marketing of numerous products derived from rice bran. We have proprietary and patented intellectual property that allows us to convert rice bran, one of the world’s most underutilized food sources, into a number of highly nutritious human food and animal nutrition products. Our target markets are human food and animal nutrition manufacturers and retailers, as well as natural food, functional food and nutraceutical supplement manufacturers and retailers, both domestically and internationally. We have developed a bio-refining approach to processing raw rice bran into various value added constituents such as stabilized rice bran (SRB), rice bran oil (RBO), defatted rice bran (DRB) and a variety of other valuable derivative products from each of these core products. | |
We have three reportable business segments: (i) USA, which manufactures and distributes SRB in various granulations along with other products derived from rice bran via proprietary and patented enzyme treatment processes; (ii) Brazil, which extracts crude RBO and DRB from rice bran, which are then further processed into a number of valuable human food and animal nutrition products; and (iii) Corporate, which includes includes corporate, administrative regulatory and compliance functions. No allocations of expense are made from the Corporate segment to the other segments. General corporate interest is not allocated. | We have three reportable business segments: (i) Corporate; (ii) USA, which manufactures and distributes SRB in various granulations along with other products derived from rice bran via proprietary and patented enzyme treatment processes; and (iii) Brazil, which extracts crude RBO and DRB from rice bran, which are then further processed into a number of valuable human food and animal nutrition products. The Corporate segment includes selling, general and administrative expenses including public company expenses, litigation, and other expenses not directly attributable to other segments. No Corporate allocations are made to the other segments. General corporate interest is not allocated. | |
The USA segment consists of two locations in California and two locations in Louisiana all of which can produce SRB. One of the two Louisiana SRB facilities, located in Lake Charles, has been idle since May 2009. The USA segment also includes our Dillon, Montana Stage II facility which produces RiSolubles (a highly nutritious, carbohydrate and lipid rich fraction of SRB), RiFiber (a fiber rich derivative of SRB) and RiBalance (a complete rice bran nutritional package derived from further processing SRB). The manufacturing facilities included in our USA segment have proprietary and patented processing equipment and technology for the stabilization and further processing of rice bran into finished products. Approximately 55% of USA segment revenue was from sales of human food products and 45% was from sales of animal nutrition products. | The USA segment consists of two locations in California and two locations in Louisiana all of which can produce SRB. One of the two Louisiana SRB facilities, located in Lake Charles, has been idle since May 2009. The USA segment also includes our Dillon, Montana Stage II facility which produces RiSolubles (a highly nutritious, carbohydrate and lipid rich fraction of SRB), RiFiber (a fiber rich derivative of SRB) and RiBalance (a complete rice bran nutritional package derived from further processing SRB). The manufacturing facilities included in our USA segment have proprietary and patented processing equipment and technology for the stabilization and further processing of rice bran into finished products. In 2012, approximately 50% of USA segment revenue was from sales of human food products and approximately 50% was from sales of animal nutrition products. | |
The Brazil segment consists of the consolidated operations of Nutra SA, LLC, whose only operating subsidiary is Industria Riograndens De Oleos Vegetais Ltda. (Irgovel), located in Pelotas, Brazil. Irgovel manufactures RBO and DRB products for both the human and animal food markets in Brazil and internationally. In refining RBO to an edible grade, several co-products are obtained. One such product is distilled fatty acids, a valuable raw material for the detergent industry. DRB is sold in bulk as animal feed and compounded with a number of other ingredients to produce complex animal nutrition products which are packaged and sold under Irgovel brands in the Brazilian market. Approximately 40% of Brazil segment product revenue was from sales of RBO products and 60% was from sales of DRB products. | The Brazil segment consists of the consolidated operations of Nutra SA, whose only operating subsidiary is Industria Riograndens De Oleos Vegetais Ltda. (Irgovel), located in Pelotas, Brazil. Irgovel manufactures RBO and DRB products for both the human and animal food markets in Brazil and internationally. In refining RBO to an edible grade, several co-products are obtained. One such product is distilled fatty acids, a valuable raw material for the detergent industry. DRB is sold in bulk as animal feed and compounded with a number of other ingredients to produce complex animal nutrition products which are packaged and sold under Irgovel brands in the Brazilian market. In 2012, approximately 46% of Brazil segment product revenue was from sales of RBO products and 54% was from sales of DRB products. |
LIQUIDITY_AND_MANAGEMENTS_PLAN
LIQUIDITY AND MANAGEMENT'S PLAN (10-Q) | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2013 | Dec. 31, 2012 | |||
CHAPTER 11 REORGANIZATION, LIQUIDITY AND MANAGEMENT'S PLAN [Abstract] | ' | ' | ||
LIQUIDITY AND MANAGEMENT'S PLAN | ' | ' | ||
NOTE 3. LIQUIDITY AND MANAGEMENT’S PLAN | NOTE 1. CHAPTER 11 REORGANIZATION, LIQUIDITY AND MANAGEMENT’S PLANS | |||
We continue to experience losses and negative cash flows from operations which raises substantial doubt about our ability to continue as a going concern. We currently have insufficient funds to support our operations and service our debt in the near term and have inadequate financing arrangements in place at this time. Although we believe that we will be able to obtain the funds necessary to operate our business, there can be no assurances that our efforts will prove successful. We engaged Maxim Group LLC to assist us with fundsraising, filed a preliminary prospectus on Form S-1 dated September 30, 2013, applied to Nasdaq to list our stock on that exchange and we are pursuing an equity raise. The accompanying consolidated financial statements do not include any adjustments that might be necessary if we are unable to continue as a going concern. | Chapter 11 Reorganization | |||
In the ongoing effort to achieve profitability, significant emphasis will be placed on growing revenues. The growth of revenues is expected to include the following: | On November 10, 2009, RiceBran Technologies (the Parent Company, formerly known as NutraCea) filed a voluntary petition for relief under Chapter 11 of the United States Bankruptcy Code (Bankruptcy Code) in the United States Bankruptcy Court for the District of Arizona (the Bankruptcy Court), in the proceeding entitled In re: NutraCea, Case No. 2:09-bk-28817-CGC (the Chapter 11 Reorganization). None of the Parent Company’s subsidiaries, including its Brazilian rice bran oil operation, were included in the bankruptcy filing. The Parent Company continued to manage its assets and operate its business as “debtor-in-possession” under the jurisdiction of the Bankruptcy Court through the November 2010 plan effective date (see below). Under the Bankruptcy Code, certain claims against the Parent Company in existence prior to the filing of the bankruptcy petition were stayed during the pendency of the Chapter 11 Reorganization. Additional claims arose subsequent to the filing date from the Parent Company’s business operations, its secured borrowing from Wells Fargo Bank, N.A., its employment of professionals, its disposition of certain non-core assets (as described below) and its treatment of certain executory contracts. | |||
· | growth in existing markets for stabilized rice bran (SRB), rice bran oil (RBO) and defatted rice bran (DRB); | On August 10, 2010, the Parent Company and the Official Unsecured Creditors Committee filed with the Bankruptcy Court an amended plan of reorganization (Amended Plan) in accordance with the Bankruptcy Code. The Amended Plan called for the payment in full of all allowed claims. Creditors voted overwhelmingly in favor of the Amended Plan and, on October 27, 2010, the Bankruptcy Court entered its order confirming the Amended Plan. The confirmation order became final on November 10, 2010, and the Amended Plan became effective on November 30, 2010. | ||
· | expanding our product offerings and improving existing products; | |||
· | aligning with, or acquiring, strategic partners who can provide channels for additional sales of our products; and | The liabilities subject to compromise became the Parent Company’s payment obligations under the Amended Plan of approximately $7.0 million when the Amended Plan became effective. As of December 31, 2011, the portion of these obligations remaining unpaid was reflected as pre-petition liabilities in our consolidated balance sheets. Interest accrued on the allowed liabilities subject to compromise from November 2009 through November 2010, at an annual rate of 0.38%. Interest accrued on the unpaid prepetition liabilities at an annual rate of 8.25% beginning in December 2010. | ||
· | implementing price increases. | |||
In January 2012, we made our final $1.6 million distribution to the general unsecured creditors. Cumulatively, we made distributions totaling $7.0 million, representing 100% of the amount owed under the Amended Plan, plus accrued interest. The distributions were made with the proceeds from (i) the sale of interests in Nutra SA, LLC (Nutra SA) in 2011, (ii) proceeds from the issuance of convertible notes, debentures and related warrants in 2012 and 2011 (iii) receipts on notes receivable in 2012 and 2011 and (iv) proceeds from the sale of the idle Phoenix facility in 2010. | ||||
We may also monetize certain assets which could result in additional impairment of asset values. Asset monetization may include some or all of the following: | ||||
Liquidity and Management’s Plans | ||||
· | sale of certain facilities; | |||
· | sale of an interest in one or more subsidiaries; or | We continue to experience losses and negative cash flows from operations which raises substantial doubt about our ability to continue as a going concern. Although we believe that we will be able to obtain the funds to operate our business, there can be no assurances that our efforts will prove successful. The accompanying consolidated financial statements do not include any adjustments that might be necessary if we are unable to continue as a going concern. | ||
· | sale of surplus equipment. | |||
We took steps in 2012 and 2011 to improve profitability and liquidity by reducing our U.S. based employee headcount at both the corporate and plant operations level. In the ongoing effort to improve profitability, significant emphasis will be placed on growing revenues. The growth of revenues is expected to include the following: | ||||
· | growth in existing markets for stabilized rice bran (SRB), rice bran oil (RBO) and defatted rice bran (DRB); | |||
· | expanding our product offerings and improving existing products; | |||
· | aligning with strategic partners who can provide channels for additional sales of our products; and | |||
· | implementing price increases. | |||
In 2012 and 2011, we issued shares of common stock and options to satisfy certain obligations in an effort to conserve cash. In 2012 and 2011, we also obtained funds from issuances of convertible debt and warrants. We intend to obtain the necessary cash to continue our operations through the monetization of certain assets, improved profitability and possibly through equity and/or debt financing transactions. Some of these monetizations could result in additional impairment of asset values. Asset monetization may include some or all of the following: | ||||
· | sale of certain facilities; | |||
· | sale of a noncontrolling interest in one or more subsidiaries; or | |||
· | sale of surplus equipment. |
LOSS_PER_SHARE_EPS_10Q
LOSS PER SHARE (EPS) (10-Q) | 9 Months Ended | 12 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2013 | Dec. 31, 2012 | |||||||||||||||||||||||||
LOSS PER SHARE (EPS) [Abstract] | ' | ' | ||||||||||||||||||||||||
LOSS PER SHARE (EPS) | ' | ' | ||||||||||||||||||||||||
NOTE 4. LOSS PER SHARE (EPS) | NOTE 4. LOSS PER SHARE (EPS) | |||||||||||||||||||||||||
Basic EPS is computed by dividing net income (loss) attributable to RiceBran Technologies shareholders by the weighted average number of common shares outstanding during all periods presented. Shares underlying options, warrants and convertible debt are excluded from the basic EPS calculation but are considered in calculating diluted EPS. | Basic EPS is computed by dividing net income (loss) attributable to RiceBran Technologies shareholders by the weighted average number of common shares outstanding during all periods presented. Shares underlying options, warrants and convertible notes payable are excluded from the basic EPS calculation but are considered in calculating diluted EPS. | |||||||||||||||||||||||||
Diluted EPS is computed by dividing the net income (loss) attributable to RiceBran Technologies shareholders by the weighted average number of shares outstanding during the period increased by the number of additional shares that would have been outstanding if the impact of assumed exercises and conversions is dilutive. The dilutive effect of outstanding options and warrants is calculated using the treasury stock method. The dilutive effect of outstanding convertible debt is calculated using the if-converted method. | Diluted EPS is computed by dividing the net income (loss) attributable to RiceBran Technologies shareholders by the weighted average number of shares outstanding during the period increased by the number of additional shares that would have been outstanding if the impact of assumed exercises and conversions is dilutive. The dilutive effect of outstanding options and warrants is calculated using the treasury stock method. The dilutive effect of outstanding convertible debt is calculated using the if converted method. | |||||||||||||||||||||||||
Below are reconciliations of the numerators and denominators in the EPS computations for the three and nine months ended September 30, 2013 and 2012. | Below are reconciliations of the numerators and denominators in the EPS computations. | |||||||||||||||||||||||||
Three Months | Nine Months | 2012 | 2011 | |||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | NUMERATOR (in thousands): | ||||||||||||||||||||||
NUMERATOR (in thousands): | Basic and diluted - net loss attributable to RiceBran Technologies shareholders | $ | (9,509 | ) | $ | (10,099 | ) | |||||||||||||||||||
Basic and diluted - net loss attributable to RiceBran Technologies shareholders | $ | (2,071 | ) | $ | (368 | ) | $ | (9,851 | ) | $ | (9,398 | ) | ||||||||||||||
DENOMINATOR: | ||||||||||||||||||||||||||
DENOMINATOR: | Basic EPS - weighted average number of shares outstanding | 1,023,412 | 991,852 | |||||||||||||||||||||||
Basic EPS - weighted average number of shares outstanding | 1,129,290 | 1,024,345 | 1,082,452 | 1,020,242 | Effect of dilutive securities outstanding | - | - | |||||||||||||||||||
Effect of dilutive securities outstanding | - | - | - | - | Diluted EPS - weighted average number of shares outstanding | 1,023,412 | 991,852 | |||||||||||||||||||
Diluted EPS - weighted average number of shares outstanding | 1,129,290 | 1,024,345 | 1,082,452 | 1,020,242 | ||||||||||||||||||||||
Number of shares of common stock which could be purchased with weighted average outstanding securities not included in diluted EPS because effect would be antidilutive- | ||||||||||||||||||||||||||
Number of shares of common stock which could be purchased with weighted average outstanding securities not included in diluted EPS because effect would be antidilutive- | Stock options (average exercise price of $48.00 and $58.00 ) | 191,187 | 197,879 | |||||||||||||||||||||||
Stock options (average exercise price for the three and nine months ended September 30, 2013, of $24.00 and $28.00) | 181,584 | 192,353 | 179,912 | 195,236 | Warrants (average exercise price of $62.00 and $226.00) | 736,753 | 214,765 | |||||||||||||||||||
Warrants (average exercise price for the three and nine months ended September 30, 2013, of $16.00 and $20.00) | 716,917 | 1,003,127 | 751,653 | 713,414 | Convertible notes (average conversion price of $16.00 and $42.00) | 334,709 | 25,800 | |||||||||||||||||||
Convertible debt (average conversion price for the three and nine months ended September 30, 2013, of $14.00) | 438,754 | 416,805 | 452,184 | 287,368 | ||||||||||||||||||||||
The impact of potentially dilutive securities outstanding at December 31, 2012 and 2011, was not included in the calculation of diluted EPS in 2012 and 2011 because to do so would be antidilutive. Those securities which were antidilutive in 2012 and 2011, which remain outstanding, could potentially dilute EPS in the future. | ||||||||||||||||||||||||||
The impact of potentially dilutive securities outstanding at September 30, 2013 and 2012, was not included in the calculation of diluted EPS in 2013 and 2012 because to do so would be antidilutive. Those securities listed in the table above which were antidilutive in 2013 and 2012, which remain outstanding, could potentially dilute EPS in the future. |
REDEEMABLE_NONCONTROLLING_INTE1
REDEEMABLE NONCONTROLLING INTEREST IN NUTRA SA (10-Q) | 9 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||
Sep. 30, 2013 | Dec. 31, 2012 | |||||||||||||||||||||||||||||
REDEEMABLE NONCONTROLLING INTEREST IN NUTRA SA [Abstract] | ' | ' | ||||||||||||||||||||||||||||
REDEEMABLE NONCONTROLLING INTEREST IN NUTRA SA | ' | ' | ||||||||||||||||||||||||||||
NOTE 5. REDEEMABLE NONCONTROLLING INTEREST IN NUTRA SA | NOTE 5. REDEEMABLE NONCONTROLLING INTEREST IN NUTRA SA | |||||||||||||||||||||||||||||
We hold a variable interest which relates to our equity interest in Nutra SA, LLC (Nutra SA). We are the primary beneficiary of Nutra SA, and as such, Nutra SA’s assets, liabilities and results of operations are included in our consolidated financial statements. The other equity holders’ interests are reflected in net loss attributable to noncontrolling interest in Nutra SA, in the consolidated statements of operations, and redeemable noncontrolling interest in Nutra SA, in the consolidated balance sheets. Our variable interest in Nutra SA is our Brazil segment. A summary of the carrying amounts of Nutra SA balances included in our consolidated balance sheets follows (in thousands). | We hold a variable interest which relates to our equity interest in Nutra SA, LLC (Nutra SA). We are the primary beneficiary of Nutra SA, and as such, Nutra SA’s assets, liabilities and results of operations are included in our consolidated financial statements. The other equity holders’ interests are reflected in net loss attributable to noncontrolling interest in Nutra SA, in the consolidated statements of operations, and redeemable noncontrolling interest in Nutra SA, in the consolidated balance sheets. Our variable interest in Nutra SA is our Brazil segment. A summary of the carrying amounts of Nutra SA balances included in our consolidated balance sheets follows (in thousands). | |||||||||||||||||||||||||||||
September 30, | December 31, | December 31, | ||||||||||||||||||||||||||||
2013 | 2012 | 2012 | 2011 | |||||||||||||||||||||||||||
Cash and cash equivalents | $ | 478 | $ | 562 | Cash and cash equivalents | $ | 562 | $ | 3,290 | |||||||||||||||||||||
Other current assets (restricted $2,154 and $2,505) | 4,370 | 5,675 | Other current assets (restricted $2,505 at December 31, 2012) | 5,675 | 6,641 | |||||||||||||||||||||||||
Property, net (restricted $5,231 and $5,757) | 18,319 | 19,690 | Property, net (restricted $5,757 at December 31, 2012) | 19,690 | 15,833 | |||||||||||||||||||||||||
Goodwill and intangibles, net | 5,185 | 6,215 | Goodwill and intangibles, net | 6,215 | 7,556 | |||||||||||||||||||||||||
Other noncurrent assets | 24 | 54 | Other noncurrent assets | 54 | 21 | |||||||||||||||||||||||||
Total assets | $ | 28,376 | $ | 32,196 | Total assets | $ | 32,196 | $ | 33,341 | |||||||||||||||||||||
Current liabilities | $ | 6,007 | $ | 5,141 | Current liabilities | $ | 5,141 | $ | 3,851 | |||||||||||||||||||||
Current portion of long-term debt (nonrecourse) | 7,679 | 7,013 | Current portion of long-term debt (nonrecourse $7,013 at December 31, 2012) | 7,013 | 5,469 | |||||||||||||||||||||||||
Long-term debt, less current portion (nonrecourse) | 7,126 | 7,454 | Long-term debt, less current portion (nonrecourse $7,454 at December 31, 2012) | 7,454 | 6,361 | |||||||||||||||||||||||||
Other noncurrent liabilities | 93 | 1,871 | Other noncurrent liabilities | 1,871 | 3,766 | |||||||||||||||||||||||||
Total liabilities | $ | 20,905 | $ | 21,479 | Total liabilities | $ | 21,479 | $ | 19,447 | |||||||||||||||||||||
Nutra SA’s debt is secured by its accounts receivable and property. Our parent company and our non-Brazilian subsidiaries do not guarantee any of Nutra SA’s debt. | Nutra SA’s debt is secured by its accounts receivable and property. Our parent company and our non-Brazilian subsidiaries do not guarantee any of Nutra SA’s debt. | |||||||||||||||||||||||||||||
A summary of changes in redeemable noncontrolling interest for the three and nine months ended September 30, 2013 and 2012, follows (in thousands). | A summary of changes in redeemable noncontrolling interest in Nutra SA follows (in thousands): | |||||||||||||||||||||||||||||
Three Months | Nine Months Ended | Investors' Ownership Interest After Transaction | 2012 | 2011 | ||||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | Redeemable noncontrolling interest in Nutra SA, beginning of period | $ | 9,918 | $ | - | ||||||||||||||||||||||
Redeemable noncontrolling interest in Nutra SA, beginning of period | $ | 7,836 | $ | 8,340 | $ | 9,262 | $ | 9,918 | Investors' purchase of initial units - first quarter 2011 | 35.6 | % | - | 7,725 | |||||||||||||||||
Investors' interest in net loss of Nutra SA | (605 | ) | (212 | ) | (1,633 | ) | (1,184 | ) | Investors' purchase of additional units - second quarter 2011 | 45.2 | % | - | 3,000 | |||||||||||||||||
Investors' interest in other comprehensive loss of Nutra SA | (43 | ) | 137 | (441 | ) | (469 | ) | Investors' purchase of additional units - third quarter 2011 | 49 | % | - | 900 | ||||||||||||||||||
Investors' purchase of additional units of Nutra SA | 300 | - | 300 | - | Investors' purchase of additional units - fourth quarter 2012 | 49 | % | 1,500 | - | |||||||||||||||||||||
Redeemable noncontrolling interest in Nutra SA, end of period | $ | 7,488 | $ | 8,265 | $ | 7,488 | $ | 8,265 | Investors' interest in net loss of Nutra SA | (1,627 | ) | (776 | ) | |||||||||||||||||
Investors' interest in accumulated other comprehensive income of Nutra SA | (529 | ) | (931 | ) | ||||||||||||||||||||||||||
In December 2010, we entered into a membership interest purchase agreement (MIPA) with AF Bran Holdings-NL LLC and AF Bran Holdings LLC (Investors). The Investors’ interest was 49.0% in all periods presented, until September 2013, when it increased to 49.7% as a result of the Investors’ contribution of an additional $0.3 million to Nutra SA. In October 2013, we transferred an additional $0.3 million in cash to Nutra SA and in November 2013, the Investors contributed $0.9 million for additional units of Nutra SA, and the Investor’s interest decreased to 49.1%. The Investors’ share of Nutra SA’s net income (loss) increases (decreases) redeemable noncontrolling interest. | Redeemable noncontrolling interest in Nutra SA, end of period | $ | 9,262 | $ | 9,918 | |||||||||||||||||||||||||
Redeemable noncontrolling interest in Nutra SA is recorded in temporary equity, above the equity section and after liabilities on our consolidated balance sheets, because the Investors have the right to force a sale of Nutra SA assets in the future (see Drag Along Rights described below). We have assessed the likelihood of the Investors exercising these rights as less than probable at September 30, 2013. We will continue to evaluate the probability of the Investors exercising their Drag Along Rights each reporting period. We will begin to accrete the redeemable noncontrolling interest up to fair value if and when it is probable the Investors will exercise these rights. | In December 2010, we entered into a membership interest purchase agreement (MIPA) with AF Bran Holdings-NL LLC and AF Bran Holdings LLC (Investors). The transaction closed in January 2011. The Investors agreed to purchase units in Nutra SA for an aggregate purchase price of $7.7 million. Prior to the transaction, Nutra SA was our wholly owned subsidiary. Nutra SA owns 100% of Irgovel. Initially after the closing, effective in January 2011, we owned a 64.4% interest in Nutra SA, and the Investors owned a 35.6% interest in Nutra SA. The Parent Company received $4.0 million of the January 2011 proceeds. The remaining $3.7 million, less $0.5 million retained by Nutra SA for administrative expenses, was invested in Irgovel for capital improvements and working capital needs. | |||||||||||||||||||||||||||||
We are restricted from competing with Nutra SA and Irgovel in Brazil as further described in the MIPA. | We agreed to use $2.2 million of the funds received from the January 2011 transaction closing to repay amounts owed to the Class 6 general unsecured creditors in accordance with the Amended Plan. The remaining $1.8 million was used for general corporate purposes, other unsecured creditor claims and administrative expenses associated with the Chapter 11 Reorganization. | |||||||||||||||||||||||||||||
Under the limited liability company agreement for Nutra SA (LLC agreement), as amended, any units held by the Investors beginning January 1, 2014, accrue a yield at 4% (the Yield). Commencing with the first quarter of 2014, Nutra SA must make distributions to the Investors quarterly in the amount equal to the previously accrued and unpaid Yield plus any additional distributions owed to the Investors. Until March 31, 2014, or if at any time Nutra SA is past due on its obligations to pay the Investors the Yield, all amounts due to us for management fees or for shared employees as provided under the LLC Agreement shall be tolled and remain unpaid until all past due amounts, if any, owed to the Investors have been paid in full. | We received in 2011 an additional $3.9 million from the Investors - $1.9 million for the purchase of outstanding units in Nutra SA from us, which was used by the Corporate and USA segments for working capital, and $2.0 million for the purchase of new units in Nutra SA, which were used by the Brazil segment to fund a capital expansion. These purchases increased the Investors’ interest in Nutra SA to a 49.0% interest as of December 31, 2011. | |||||||||||||||||||||||||||||
Following the payment of the Yield, Nutra SA must distribute all distributable cash (as defined in the LLC Agreement) to the members on March 31 of each year as follows: (i) first, to the Investors in an amount equal to a multiplier (Preference Multiple) times the Investors’ capital contributions, less the aggregate amount of distributions paid to the Investors, (ii) second, to us in an amount equal to two times the capital contributions made by us, less the aggregate amount of distributions paid to us; and (iii) third, to us and the Investors in proportion to our respective membership interests. The Preference Multiple is currently 2.3. | In December 2012, we received an additional $1.5 million from the Investors for the purchase of new units in Nutra SA, which were used by the Brazil segment to fund a capital expansion. We made additional capital contributions valued at $1.5 million under the agreement, consisting of the right to use certain proprietary equipment and forgiveness of fees Nutra SA owed us. We must deliver and install the equipment at our expense, within 90 days after requested by either the Investors or Irgovel. The Investors’ interest remained 49.0% interest as of December 31, 2012. | |||||||||||||||||||||||||||||
Under an October 2013 amendment of investment agreements, in November 2013, the Investors contributed an additional $0.9 million for units in Nutra SA and have the right to invest additional funds before December 31, 2013. We also agreed to pay to Nutra SA ninety percent of any funds received (when and if received) from our restricted cash (see the Commitment and Contingencies note), with no resulting change in our Nutra SA voting rights. The Preference Multiple may change as of December 31, 2013, to an amount dependent on fundings made by us (including from restricted cash) and the Investors in November and December 2013. If the we fail to purchase at least $3.0 million of units between November 1 and December 31, 2013, an event of default will be automatically declared January 1, 2014, and the Preference Multiple will increase to 2.5 . If at any time after November 1, 2013, our contributions for additional Nutra SA units between November 1 and December 31, 2013, plus funds contributed to Nutra SA from restricted cash, exceed the total of the Investor’s fourth quarter 2013 contributions by more than $4.0 million, the Preference Multiple will be reduced to 2.0. | The Investors have the right to subsequently purchase from Nutra SA up to an additional 750,000 units for another $1,500,000. If immediately prior to such purchase Nutra SA and Irgovel have sufficient cash to complete certain projects, then the units will have no voting rights. | |||||||||||||||||||||||||||||
In the second and third quarters of 2013, we transferred $0.7 million and $0.1 million in cash to Nutra SA. In exchange, title was returned to us for certain equipment contributed to Nutra SA in December 2012 with an historical cost of $0.2 million. | We determined that we continued to control Nutra SA after each of the membership interest sale transactions and should continue to consolidate Nutra SA. We treated each transaction similar to an equity transaction, with no gain or loss recognized in consolidated net loss or comprehensive loss. The $0.3 million historical cost of the equipment we contributed in December 2012, is reflected in Nutra SA’s balance sheet, in the Brazil segment, as of December 31, 2012. The Investors’ share of Nutra SA’s net income (loss) increases (decreases) redeemable noncontrolling interest. | |||||||||||||||||||||||||||||
Under the LLC agreement, the business of Nutra SA is to be conducted by the manager, currently our CEO, subject to the oversight of the management committee. The management committee is comprised of three of our representatives and two Investor representatives. Upon an event of default or a qualifying event, we will no longer control the management committee and the management committee will include three Investor representatives and two of our representatives. In addition, following an event of default or a qualifying event, a majority of the members of the management committee may replace the manager of Nutra SA. | Redeemable noncontrolling interest in Nutra SA is recorded in temporary equity, above the equity section and after liabilities on our consolidated balance sheets, because the Investors have the right to force a sale of Nutra SA assets in the future (see Drag Along Rights described below). We have assessed the likelihood of the Investors exercising these rights as less than probable at December 31, 2012, in part because it is more likely the Investors will exercise other rights prior to January 2014. We will continue to evaluate the probability of the Investors exercising their Drag Along rights each reporting period. We will begin to accrete the redeemable noncontrolling interest up to fair value if and when it is probable the Investors will exercise these rights. | |||||||||||||||||||||||||||||
As of September 30, 2013, there have been no events of default. Events of default, as defined in the MIPA and the October 2013 amendment of investment agreements, are: | We are restricted from competing with Nutra SA and Irgovel in Brazil as further described in the MIPA. | |||||||||||||||||||||||||||||
· | A Nutra SA business plan deviation, defined as the occurrence, for 2014, of a 20% unfavorable variation in two out of three of the following: (i) revenue, (ii) earnings before interest, taxes, depreciation and amortization (EBITDA) or (iii) debt, | |||||||||||||||||||||||||||||
· | A Nutra SA EBITDA default, which is defined as the failure to achieve 85% of planned EBITDA for three consecutive quarters, | In connection with the December 2012 capital contributions, we amended the limited liability company agreement for Nutra SA (LLC agreement). Pursuant to this amendment, among other things, any units held by the Investors after January 1, 2014, accrue a yield at 4% if a certain milestone condition is satisfied, and at 8% if the milestone condition is not satisfied (the Yield). The milestone condition relates to Nutra SA having performed all of the following: obtaining additional back financing, completion of the capital expansion project within certain spending limitations, and operation of the plant post expansion at targeted processing levels. Commencing with the first quarter of 2014, Nutra SA must make distributions to the Investors quarterly in the amount equal to the previously accrued and unpaid Yield plus any additional distributions owed to the Investors. Until March 31, 2014, or if at any time Nutra SA is past due on its obligations to pay the Investors the Yield, all amounts due to us for management fees or for shared employees as provided under the LLC Agreement shall be tolled and remain unpaid until all past due amounts, if any, owed to the Investors have been paid in full. | ||||||||||||||||||||||||||||
· | A material problem, which is defined as a material problem in a facility (unrelated to changes in law, weather, etc.) likely to cause a Nutra SA business plan deviation or Nutra SA EBITDA default, which results in damages not at least 80% covered by insurance proceeds, | |||||||||||||||||||||||||||||
· | Failure of Irgovel to meet minimum quarterly processing targets beginning in the second quarter of 2014, or | Following the payment of the Yield, Nutra SA must distribute all distributable cash (as defined in the LLC Agreement) to the members on March 31 of each year as follows: (i) first, to the Investors in an amount equal to 2.3 times the Investors’ capital contribution, less the aggregate amount of distributions paid to the Investors, (ii) second, to us in an amount equal to two times the capital contributions made by us, less the aggregate amount of distributions paid to us; and (iii) third, to us and the Investors in proportion to our respective membership interests. | ||||||||||||||||||||||||||||
· | Failure of Irgovel to achieve EBITDA of at least $4.0 million in any year after 2014. | |||||||||||||||||||||||||||||
Under the LLC agreement, the business of Nutra SA is to be conducted by the manager, currently our CEO, subject to the oversight of the management committee. The management committee is comprised of three of our representatives and two Investor representatives. Upon an event of default or a qualifying event, we will no longer control the management committee and the management committee will include three Investor representatives and two of our representatives. In addition, following an event of default or a qualifying event, a majority of the members of the management committee may replace the manager of Nutra SA. | ||||||||||||||||||||||||||||||
As of September 30, 2013, there have been no qualifying events. The LLC agreement defines a qualifying event as any event prior to September 16, 2014, which results, or will result, in (i) a person or group of persons exercising the right to appoint members to our board of directors holding one third or more of the votes of all board members, (ii) the sale, exchange, pledge or use as guarantee of one half or more of our ownership interest in Nutra SA to a third party or (iii) the bankruptcy of RiceBran Technologies or Nutra SA. | ||||||||||||||||||||||||||||||
As of December 31, 2012, there have been no events of default. Events of default, as defined in the MIPA, are: | ||||||||||||||||||||||||||||||
The Investors have certain rights, summarized below, under an investor rights agreement and the LLC agreement, as further defined in the agreements. | · | A Nutra SA business plan deviation, defined as the occurrence, in either 2012, 2013 or 2014, of a 20% unfavorable variation in two out of three of the following: (i) revenue, (ii) earnings before interest, taxes, depreciation and amortization (EBITDA) or (iii) debt, | ||||||||||||||||||||||||||||
· | Conversion Rights – The Investors may exchange units in Nutra SA for equity interests in our subsidiaries. After any exchange, the Investors would possess the same rights and obligations with respect to the securities of our subsidiaries, as they have in Nutra SA. | · | A Nutra SA EBITDA default, which is defined as the failure to achieve 85% of planned EBITDA for three consecutive quarters, or | |||||||||||||||||||||||||||
· | Global Holding Company (GHC) Roll-Up – If we form an entity, GHC, to hold our Brazil segment assets, the Investors may exchange units in Nutra SA for equity interests in GHC. The investors may exercise this right after the second anniversary of the formation of GHC or, if an event of default has occurred, after the GHC formation date. The appraised fair value of the Investors’ interest in Nutra SA would be used to determine the amount of ownership interest the Investors would receive in GHC. | · | A material problem, which is defined as a material problem in a facility (unrelated to changes in law, weather, etc.) likely to cause a Nutra SA business plan deviation or Nutra SA EBITDA default, which results in damages not at least 80% covered by insurance proceeds. | |||||||||||||||||||||||||||
· | RiceBran Technologies Roll-Up – The Investors may exchange units in Nutra SA for our common stock.. This right is available upon the earlier of January 2014 or upon an event of default. We may elect to postpone our obligation to complete the roll-up to January 2015 if the roll-up would result in over 25% of our common stock being owned by the Investors. The appraised fair value of the Investors’ interest in Nutra SA and the market price of our stock would be used to determine the amount of ownership interest the Investors would receive. | |||||||||||||||||||||||||||||
· | Drag Along Rights – The Investors have the right to force the sale of all Nutra SA assets after the earlier of January 1, 2015 or upon the failure to process a certain level of rice bran in the second and third quarters of 2014. The right terminates upon the occurrence of certain events (a $50 million Nutra SA initial public offering or a change of control, as defined). We may elect to exercise a right of first refusal to purchase the Investors’ interest instead of proceeding to a sale. | As of December 31, 2012, there have been no qualifying events. The LLC agreement, defines a qualifying event as any event prior to September 16, 2014, which results, or will result in, (i) a person or group of persons exercising the right to appoint members to our board of directors holding one third or more of the votes of all board members, (ii) the sale, exchange, pledge or use as guarantee of one half of our ownership interest in Nutra SA to a third party or (iii) the bankruptcy of RiceBran Technologies or Nutra SA. | ||||||||||||||||||||||||||||
In evaluating whether we are the primary beneficiary of Nutra SA, we considered the matters which could be put to a vote of the members. Until there is an event of default or a qualifying event, the Investors’ rights and abilities, individually or in the aggregate, do not allow them to substantively participate in the operations of Nutra SA. The Investors do not currently have the ability to dissolve Nutra SA or otherwise force the sale of all its assets. They do have such rights in the future (Drag Along Rights as described above). We will continue to evaluate our ability to control Nutra SA each reporting period. | The Investors have certain rights, summarized below, under an investor rights agreement and the LLC agreement, as further defined in the agreements. | |||||||||||||||||||||||||||||
· | Conversion Rights – The Investors may exchange units in Nutra SA for equity interests in Irgovel. After any exchange, the Investors would possess the same rights and obligations with respect to the securities of Irgovel, as they have in Nutra SA. | |||||||||||||||||||||||||||||
Cash provided by operations in our Brazil segment is generally unavailable for distribution to our Corporate and USA segments pursuant to the terms of the LLC agreement. | · | Global Holding Company (GHC) Roll-Up – If we form an entity, GHC, to hold our Brazil segment assets, the Investors may exchange units in Nutra SA for equity interests in GHC. The investors may exercise this right after the second anniversary of the formation of GHC or, if an event of default has occurred, after the later of January 2013 and the GHC formation date. The appraised fair value of the Investors’ interest in Nutra SA would be used to determine the amount of ownership interest the Investors would receive in GHC. | ||||||||||||||||||||||||||||
· | RiceBran Technologies Roll-Up – The Investors may exchange units in Nutra SA for our common stock.. This right is available upon the earlier of January 2014 or, if an event of default has occurred, January 2013. We may elect to postpone our obligation to complete the roll-up to January 2015 if the roll-up would result in over 25% of our common stock being owned by the Investors. The appraised fair value of the Investors’ interest in Nutra SA and the market price of our stock would be used to determine the amount of ownership interest the Investors would receive. | |||||||||||||||||||||||||||||
· | Drag Along Rights – The Investors have the right to force the sale of all Nutra SA assets after the earlier of (i) January 2014, (ii) January 2013 if an event of default occurs, or (iii) the date of a qualifying event. The right terminates upon the occurrence of certain events (a $50 million Nutra SA initial public offering or a change of control, as defined). We may elect to exercise a right of first refusal to purchase the Investors’ interest instead of proceeding to a sale. | |||||||||||||||||||||||||||||
In evaluating whether we are the primary beneficiary of Nutra SA, we considered the matters which could be put to a vote of the members. Until there is an event of default or a qualifying event, the Investors’ rights and abilities, individually or in the aggregate, do not allow them to substantively participate in the operations of Nutra SA. The Investors do not currently have the ability to dissolve Nutra SA or otherwise force the sale of all its assets. They do have such rights in the future (Drag Along Rights as described above). We will continue to evaluate our ability to control Nutra SA each reporting period. | ||||||||||||||||||||||||||||||
Cash provided by operations in our Brazil segment is generally unavailable for distribution to our Corporate and USA segments pursuant to the terms of the LLC agreement. |
INVENTORIES_10Q
INVENTORIES (10-Q) | 9 Months Ended | 12 Months Ended | ||||||||||||||||
Sep. 30, 2013 | Dec. 31, 2012 | |||||||||||||||||
INVENTORIES [Abstract] | ' | ' | ||||||||||||||||
INVENTORIES | ' | ' | ||||||||||||||||
NOTE 6. INVENTORIES | NOTE 6. INVENTORIES | |||||||||||||||||
Inventories are composed of the following (in thousands): | Inventories are composed of the following (in thousands): | |||||||||||||||||
September 30, | December 31, | As of December 31, | ||||||||||||||||
2013 | 2012 | 2012 | 2011 | |||||||||||||||
Finished goods | $ | 1,096 | $ | 1,146 | Finished goods | $ | 1,146 | $ | 906 | |||||||||
Work in process | 61 | 330 | Work in process | 330 | 804 | |||||||||||||
Raw materials | 170 | 255 | Raw materials | 255 | 353 | |||||||||||||
Packaging supplies | 233 | 263 | Packaging supplies | 263 | 234 | |||||||||||||
Total inventories | $ | 1,560 | $ | 1,994 | Total inventories | $ | 1,994 | $ | 2,297 |
PROPERTY_10Q
PROPERTY (10-Q) | 9 Months Ended | 12 Months Ended | |||||||||||||||||
Sep. 30, 2013 | Dec. 31, 2012 | ||||||||||||||||||
PROPERTY [Abstract] | ' | ' | |||||||||||||||||
PROPERTY | ' | ' | |||||||||||||||||
NOTE 7. PROPERTY | NOTE 8. PROPERTY | ||||||||||||||||||
Property consisted of the following (in thousands): | Property consists of the following (in thousands): | ||||||||||||||||||
September 30, | December 31, | As of December 31, | |||||||||||||||||
2013 | 2012 | 2012 | 2011 | Estimated Useful Lives | |||||||||||||||
Land | $ | 389 | $ | 403 | Land | $ | 403 | $ | 420 | ||||||||||
Furniture and fixtures | 357 | 358 | Furniture and fixtures | 358 | 363 | 5-10 years | |||||||||||||
Plant | 14,964 | 14,362 | Plant | 14,362 | 14,122 | 25-30 years, or life of lease | |||||||||||||
Computer and software | 1,452 | 1,407 | Computer and software | 1,407 | 1,352 | 3-5 years | |||||||||||||
Leasehold improvements | 200 | 189 | Leasehold improvements | 189 | 189 | 3-7 years or life of lease | |||||||||||||
Machinery and equipment | 15,298 | 15,053 | Machinery and equipment | 15,053 | 17,249 | 5-10 years | |||||||||||||
Construction in progress | 7,098 | 9,118 | Construction in progress | 9,118 | 5,710 | ||||||||||||||
Property | 39,758 | 40,890 | Subtotal | 40,890 | 39,405 | ||||||||||||||
Less accumulated depreciation | 13,938 | 12,433 | Less accumulated depreciation | 12,433 | 11,410 | ||||||||||||||
Property, net | $ | 25,820 | $ | 28,457 | Property, net | $ | 28,457 | $ | 27,995 | ||||||||||
Included in accounts payable at September 30, 2013, is $0.6 million related to amounts payable for capital expansion project additions. | Our Lake Charles, Louisiana facility was built at a cost of $3.8 million to process rice bran from a rice milling company adjacent to the facility. The facility is built on leased land which is owned by the rice milling company. The facility was idled in May 2009 due to lack of orders. We recorded a $2.3 million impairment loss on the facility in 2009. The facility is not classified as held for sale due to potential alternative uses and because we are not aggressively marketing the property. We evaluated, and continue to evaluate, alternate uses of the facility. Depreciation on the facility has continued after the facility was idled. As of December 31, 2012, the net book value of the idled facility included in property, net, was $1.7 million. | ||||||||||||||||||
We also own equipment purchased in 2009 for use in the Lake Charles, Louisiana facility. In 2012 and 2011, we recorded impairments of $1.1 million and $0.6 million on the Lake Charles equipment. | |||||||||||||||||||
Property includes machinery and equipment that has never been installed or operated, which totals $1.4 million at December 31, 2012. |
EQUITY_METHOD_INVESTMENT_10Q
EQUITY METHOD INVESTMENT (10-Q) | 9 Months Ended |
Sep. 30, 2013 | |
EQUITY METHOD INVESTMENT [Abstract] | ' |
EQUITY METHOD INVESTMENT | ' |
NOTE 8. EQUITY METHOD INVESTMENT | |
In 2011, we entered into an agreement with a partner with the goal of developing technology to extract and concentrate protein from rice bran. In March 2013, the agreement was mutually terminated under terms whereby we each received (i) the right to separately develop, modify and improve the jointly developed technology owned by the partner and (ii) a nonexclusive, royalty free, perpetual license to that technology (License). We paid the partner $1.2 million as a lump sum in April 2013. | |
RBT PRO, LLC (RBT PRO) was a wholly owned subsidiary whose only asset was the License acquired in March 2013. In April 2013, we entered into a series of agreements with various affiliates of Wilmar International Limited (collectively Wilmar). In connection therewith, we sold a 50% membership interest in RBT PRO to Wilmar for $1.2 million. RBT PRO granted an exclusive, royalty free, perpetual sublicense of the License to Wilmar for use throughout China and to us for use worldwide, excluding China. | |
We also entered into a cross license agreement with Wilmar. We agreed to license to Wilmar all of our intellectual property with respect to processing of rice bran and its derivatives for use in China. Wilmar agreed to license to us (i) its intellectual property with respect to processing of rice bran, and its derivatives, based on the intellectual property licensed to Wilmar under the License for use worldwide, excluding China and (ii) its other intellectual property with respect to processing of rice bran, and its derivatives, for use worldwide, excluding certain countries in Asia. | |
Under the agreements, we obtained the right to purchase 45% of the capital stock of any entity Wilmar establishes to develop new products relating to rice bran or its derivative, as defined in the agreement, using the intellectual property licensed to Wilmar. If we decline the right to purchase 45% of the capital stock of any such new entity, we have the option to purchase 25% of the entity within two years of the entity’s formation. The exercise price for the option will equal 25% of the capital investment made in the entity, plus interest, as defined in the agreement. | |
There was no gain or loss recognized on these transactions because we entered the agreement with the partner in contemplation of the agreements with Wilmar. Our investment in RBT PRO is zero as of September 30, 2013 and RBT PRO has had no net income or loss since inception. |
DEBT_10Q
DEBT (10-Q) | 9 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Sep. 30, 2013 | Dec. 31, 2012 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
DEBT [Abstract] | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||||||||||
DEBT | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||||||||||
NOTE 9. DEBT | NOTE 10. DEBT | |||||||||||||||||||||||||||||||||||||||||||||||||||||
The following table summarizes current and long-term portions of debt (in thousands). | The following table summarizes current and long-term portions of debt (in thousands): | |||||||||||||||||||||||||||||||||||||||||||||||||||||
September 30, | December 31, | As of December 31, | ||||||||||||||||||||||||||||||||||||||||||||||||||||
2013 | 2012 | 2012 | 2011 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Corporate segment: | Corporate and USA segments: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Senior convertible revolving note, net | $ | 1,608 | $ | - | Senior convertible debentures, net | $ | 1,048 | $ | - | |||||||||||||||||||||||||||||||||||||||||||||
Senior convertible debentures, net | 96 | 1,048 | Subordinated convertible notes, net | 4,041 | 2,126 | |||||||||||||||||||||||||||||||||||||||||||||||||
Subordinated convertible notes, net | 5,230 | 4,041 | Factoring agreement | 28 | 262 | |||||||||||||||||||||||||||||||||||||||||||||||||
Other | 38 | 28 | Other | - | 507 | |||||||||||||||||||||||||||||||||||||||||||||||||
6,972 | 5,117 | 5,117 | 2,895 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Brazil segment: | Brazil segment: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Capital expansion loans | 5,021 | 5,555 | Working capital lines of credit | 2,227 | 1,778 | |||||||||||||||||||||||||||||||||||||||||||||||||
Equipment financing | 210 | 201 | Capital expansion loans | 5,555 | 3,789 | |||||||||||||||||||||||||||||||||||||||||||||||||
Working capital lines of credit | 3,767 | 2,227 | Equipment financing | 201 | 214 | |||||||||||||||||||||||||||||||||||||||||||||||||
Advances on export letters of credit | 3,189 | 3,953 | Advances on export letters of credit | 3,953 | 2,838 | |||||||||||||||||||||||||||||||||||||||||||||||||
Special tax programs | 2,618 | 2,531 | Special tax programs | 2,531 | 3,211 | |||||||||||||||||||||||||||||||||||||||||||||||||
14,805 | 14,467 | 14,467 | 11,830 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Total debt | 21,777 | 19,584 | Total debt | 19,584 | 14,725 | |||||||||||||||||||||||||||||||||||||||||||||||||
Current portion | 9,422 | 8,003 | Current portion | 8,003 | 6,792 | |||||||||||||||||||||||||||||||||||||||||||||||||
Long-term portion | $ | 12,355 | $ | 11,581 | Long-term portion | $ | 11,581 | $ | 7,933 | |||||||||||||||||||||||||||||||||||||||||||||
Required future minimum payments on our debt as of December 31, 2012, follow (in thousands). | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Corporate Segment | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Corporate and USA Segments | Brazil Segment | Total | ||||||||||||||||||||||||||||||||||||||||||||||||||||
As of September 30, 2013, our convertible debt consists of the following components (in thousands): | 2013 | $ | 1,219 | $ | 7,013 | $ | 8,232 | |||||||||||||||||||||||||||||||||||||||||||||||
2014 | 108 | 1,283 | 1,391 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Senior | Subordinated | 2015 | 5,375 | 1,086 | 6,461 | |||||||||||||||||||||||||||||||||||||||||||||||||
Convertible | Senior | Convertible Notes | 2016 | - | 983 | 983 | ||||||||||||||||||||||||||||||||||||||||||||||||
Revolving | Convertible | Halpern | Other | 2017 | - | 976 | 976 | |||||||||||||||||||||||||||||||||||||||||||||||
Note | Debentures | Entities | Investors | Total | Thereafter | - | 3,126 | 3,126 | ||||||||||||||||||||||||||||||||||||||||||||||
Principal outstanding | $ | 1,558 | $ | 97 | $ | 2,600 | $ | 3,419 | $ | 7,674 | $ | 6,702 | $ | 14,467 | $ | 21,169 | ||||||||||||||||||||||||||||||||||||||
Discount | (41 | ) | (3 | ) | (470 | ) | (3,419 | ) | (3,933 | ) | ||||||||||||||||||||||||||||||||||||||||||||
Derivative conversion liabilities | 91 | 2 | 1,267 | 1,833 | 3,193 | Corporate and USA Segments | ||||||||||||||||||||||||||||||||||||||||||||||||
Debt | $ | 1,608 | $ | 96 | $ | 3,397 | $ | 1,833 | $ | 6,934 | ||||||||||||||||||||||||||||||||||||||||||||
Factoring Agreement | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt - current portion | $ | 1,608 | $ | 96 | $ | - | $ | - | $ | 1,704 | ||||||||||||||||||||||||||||||||||||||||||||
Debt - long-term portion | - | - | 3,397 | 1,833 | 5,230 | In January 2011, we entered into a domestic factoring agreement which provides for a $1.0 million credit facility with a bank. We may only borrow to the extent we have qualifying accounts receivable as defined in the agreement. The facility automatically renews for another year on December 31, 2013, unless proper termination notice is given. The bank charges the greater of $2,000 per month or a 2.0% fee on any borrowing. The 2.0% fee increases incrementally for any qualified account with a balance that remains outstanding in excess of 45 days. The average borrowings under this agreement totaled $0.1 million in 2012 and 2011. | ||||||||||||||||||||||||||||||||||||||||||||||||
Senior Convertible Revolving Note | Convertible Debt Outstanding as of December 31, 2012 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Under a revolving credit facility with TCA Global Credit Master Fund, LP (TCA), effective May 2013, as amended July 2013 and October 2013, we may borrow up to $8 million, based on the amount of eligible accounts receivable we provide to secure the repayment of the amounts borrowed. We expect the amount of our eligible receivables will limit our ability to borrow under this facility, such that our outstanding borrowings at any time are less than approximately $2.8 million. Borrowings under the agreement are evidenced by a revolving note which accrues interest at the rate of 12% per year and is due in January 2014. We owe TCA various other fees under the agreement that are expected to average approximately 7% of average borrowings per year. | Convertible debt instruments outstanding as of December 31, 2012, are listed below. | |||||||||||||||||||||||||||||||||||||||||||||||||||||
USA segment accounts receivable collections are required to be directed to a TCA owned account. Collections TCA receives, in excess of amounts due for interest and fees and mandatory minimum cumulative repayments are treated as additional repayments and reduce amounts outstanding. There are minimum repayments beginning in January 2014 and the note must be repaid in full by November 2014. Minimum cumulative repayments are $0.6 million as of March 2014, $1.3 million as of June 2014 and $2.2 million as of September 2014. Until cumulative repayments equal the required minimum, TCA may withhold 20% of collections. We may request, on a weekly basis, that TCA advance us any amounts collected in excess of amounts (i) due for interest and fees and (ii) required to meet the minimum cumulative repayments. During the second and third quarters of 2013, amounts outstanding under the agreement averaged $0.5 million and $1.5 million. | Issuance | Issuance Date of Debt | Principal Amount of Debt (in thousands) | Creditor's Debt Conversion Right | Stated Annual Interest Rate on Debt | Maturity Date of Debt | ||||||||||||||||||||||||||||||||||||||||||||||||
Senior Convertible Debentures | Jul-12 | $ | 1,299 | Convertible January 2013 at $14.00 per share | NA | Jan-14 | ||||||||||||||||||||||||||||||||||||||||||||||||
In May 2013, we borrowed $1.4 million under the TCA revolving note (first tranche). The proceeds net of cash expenses totaled $1.2 million and were used to (i) pay down $0.4 million of debt, (ii) fund a $0.5 million investment in Nutra SA and (iii) for general corporate purposes. In addition to cash expenses, we issued TCA 10,593 shares of our common stock with a market value of $0.2 million at issuance. We also issued warrants to investment bankers with a fair value of $0.1 million for the purchase of 6,000 shares of common stock, exercisable at $0.08 per share, through May 2018. The total $0.5 million costs incurred with the first tranche closing, consisting of $0.3 million of cash expenses and the $0.2 million fair value of the common stock and warrants were recorded as debt issuance costs in other long-term assets and are being amortized to interest expense over the term of the note. | Subordinated Convertible Note | Aug-12 | 150 | Convertible immediately at $14.00 per share | 10 | % | Jul-15 | |||||||||||||||||||||||||||||||||||||||||||||||
Subordinated Convertible Notes | Jul-12 | 850 | Convertible immediately at $14.00 per share | 10 | % | Jul-15 | ||||||||||||||||||||||||||||||||||||||||||||||||
In July 2013, we borrowed an additional $0.6 million under the TCA revolving note (second tranche). The net proceeds of $0.6 million were used to make a $0.1 million investment in Nutra SA and for general corporate purposes. In addition to cash expenses, we issued TCA 20,000 shares of our common stock with a market value of $0.2 million at issuance. We issued warrants to investment bankers with a fair value of less than $0.1 million for the purchase of 2,571 shares of common stock, exercisable at $16.00 per share through July 2018. The total $0.3 million costs incurred with the second tranche closing, consisting of $0.1 million of cash expenses and the $0.1 million fair value of the common stock and warrants were recorded as debt issuance costs in other long-term assets and are being amortized to interest expense over the remaining term of the note. | Subordinated Convertible Note | May-12 | 50 | Convertible immediately at $14.00 per share | 10 | % | Jul-15 | |||||||||||||||||||||||||||||||||||||||||||||||
Subordinated Convertible Notes | Jan-12 | 4,325 | Convertible immediately at $14.00 per share | 10 | % | Jul-15 | ||||||||||||||||||||||||||||||||||||||||||||||||
In October 2013, we borrowed an additional $0.8 million under the TCA revolving note (third tranche). The net proceeds of $0.7 million were used to make a $0.3 million investment in Nutra SA and for general corporate purposes. In addition to cash expenses, we issued TCA 6,667 shares of our common stock with a market value of $0.1 million at issuance. We issued warrants to investment bankers with a fair value of less than $0.1 million for the purchase of 3,429 shares of common stock, exercisable at $16.00 per share through October 2018. The total $0.1 million costs incurred with the third tranche closing, consisting of $0.1 million of cash expenses and the $0.1 million fair value of the common stock and warrants were recorded as debt issuance costs in other long-term assets in the third quarter of 2013 and are also being amortized to interest expense over the remaining term of the note. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
All of the convertible debt instruments listed above contain full ratchet antidilution provisions and require the holders to provide us with at least 61 days notice prior to conversion or exercise to the extent the holder would have a beneficial ownership interest in our common stock in excess of 4.99% of our outstanding common stock immediately after conversion or exercise. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
We have guaranteed that TCA will realize a minimum of $0.5 million when shares of our common stock issued in connection with the three tranches are sold and, as a result of the amendment in October 2013, we must redeem the shares for a cash amount equal to the minimum in monthly installments beginning in January 2014 and ending in October 2014. As of September 30, 2013, the 30,593 shares of common stock issued to TCA in connection with the first and second tranches, are recorded in temporary equity at $0.4 million, the fair value of the shares at issuance, which exceeds the redemption value of the shares at September 30, 2013. The 6,667 shares of common stock issued to TCA in October 2013, will also be carried in temporary equity at the greater of their fair value at issuance or their current redemption value, until the redemption feature lapses. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
In January 2012, we issued a senior convertible debenture and related warrant for $0.8 million, a $0.1 million discount from the debenture’s stated principal amount. We received cash proceeds of $0.6 million, net of cash financing costs. In the third quarter of 2012, this January 2012 debenture was exchanged for a July 2012 debenture with a stated principal amount of $1.0 million, representing the original principal amount plus interest which will accrue through the replacement debenture’s January 2014 maturity. In July 2012, we also issued a new senior convertible debenture and related warrant and received $0.2 million in proceeds, net of financing costs. Each of the July 2012 debentures is convertible immediately at $14.00 per share. Commencing February 2013, we are required to redeem 1/12th of the $1.3 million combined principal each month until the January 2014 maturity date. In lieu of a cash redemption we may elect to redeem the debentures by issuing a number of shares of common stock equal to the monthly redemption amount divided by the lesser of (i) the current debenture conversion price or (ii) 80% of the 20-day volume weighted average trading price of our common stock or (iii) the volume weighted average trading price of our common stock on the day immediately prior to the redemption date less $0.01. The number of shares delivered may not exceed 20% of the number of shares traded in the 20-day trading period prior to payment. The debentures are secured by a senior interest in substantially all of our assets, excluding our interest in Nutra SA. Pursuant to the terms of the debentures, we may not pay any dividends while the debenture is outstanding. Under the terms of the original January 2012 debenture, we had been required to redeem 1/12th of the $0.9 million principal each month commencing August 2012 until the July 2013 maturity date. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Upon an event of default, as defined in the agreement, TCA has the right to voluntarily convert all or any portion of the outstanding principal, interest and other amounts due under the agreement into shares of our common stock at a conversion price equal to 85% of the lowest daily volume weighted average price during the five trading days immediately prior to the conversion date. Because the conversion feature could require us to issue an indeterminate number of shares for settlement, the conversion feature is a derivative liability, classified as debt on our balance sheets. If TCA voluntarily converts, we have guaranteed that TCA will realize a minimum per share, when shares of our common stock issued in connection with the conversion are sold, equal to the volume weighted average price of our common stock during the five trading days immediately prior to the conversion date. As a result of the $0.1 million conversion liability associated with the first tranche and second tranches, we recorded debt discounts at issuance totaling $0.1 million which are amortizing to interest expense over the term of the revolving note. At September 30, 2013, the conversion liability on the revolving note was $0.1 million. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
The January and May 2012 subordinated convertible notes with a face amount of $4.4 million, and the related warrants, were issued in exchange for $1.8 million cash, net of issuance costs, and surrender of then outstanding convertible notes with original principal totaling $2.3 million and a related warrant (old notes and old warrant). Interest is payable monthly at an annual rate of 10%. The notes are secured by a junior interest in substantially all of our assets, excluding our interest in Nutra SA. The old notes and old warrant were held by Baruch Halpern, who became a director concurrent with the January 2012 transaction. In exchange for surrendering the old notes and old warrant and an additional $0.1 million cash investment, we issued a $2.5 million subordinated convertible note and related warrant to a trust beneficially owned by Mr. Halpern (the Halpern Trust). | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
During the term of the agreement, the Corporate and USA segments may not without TCA’s consent or approval, among other things, (i) enter into new debt (ii) make any new investments, except capital expenditures less than $0.3 million per year, (iii) issue or redeem stock, (iv) declare or pay dividends or make other distributions to shareholders, and (v) make loans and distributions of assets to any persons, including affiliates. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
The July and August 2012 subordinated convertible notes with a face amount of $1.0 million, and the related warrants, were issued in exchange for $0.9 million cash, net of issuance costs. The notes are also secured by a junior interest in substantially all of our assets, excluding our interest in Nutra SA. The notes and warrants were issued to four investors who had purchased January and May 2012 subordinated convertible notes and warrants. We issued a $0.1 million subordinated convertible note and related warrant to an entity beneficially owned by Mr. Halpern (together with the Halpern Trust referred to as the Halpern Entities). | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
In connection with the TCA transaction, our factoring agreement was cancelled and we paid the $0.1 million outstanding balance on the agreement in the second quarter of 2013. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
As of December 31, 2012, our convertible debt consists of the following components (in thousands): | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Senior Convertible Debentures | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Notes | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
In the first and second quarter of 2013, the holder of the debentures converted $0.1 million and $0.3 million of the outstanding principal into 7,000 shares and 21,429 shares of our common stock, at a conversion price of $14.00. We recognized, for each conversion, a loss on extinguishment of $0.1 million, representing the difference between the market values of the shares of common stock issued and the $0.1 million and $0.4 million carrying amounts of the debt (including the related derivative conversion liability), on the date of conversion. | Debentures | Halpern Entities | Other Investors | Total | ||||||||||||||||||||||||||||||||||||||||||||||||||
Principal outstanding | $ | (1,299 | ) | $ | (2,600 | ) | $ | (2,775 | ) | $ | (6,674 | ) | ||||||||||||||||||||||||||||||||||||||||||
Under a May 2013 amendment to the senior convertible debenture, we agreed to (i) prepay $0.3 million of the of the outstanding principal and (ii) issue 18,571 shares of common stock to the holder, and the holder agreed to share its senior interest in its collateral pari passu with TCA. The remaining $0.2 million principal is payable in equal monthly installments from July 2013 through December 2013. Prior to the amendment, principal was due in equal monthly installments from June 2013 to January 2014. We expensed the $0.3 million fair value of the shares issued in connection with the amendment and the $0.01 million cash amendment fees as loss on extinguishment. | Discount | 422 | 587 | 2,775 | 3,784 | |||||||||||||||||||||||||||||||||||||||||||||||||
Derivative conversion liabilities | (171 | ) | (980 | ) | (1,048 | ) | (2,199 | ) | ||||||||||||||||||||||||||||||||||||||||||||||
Subordinated Convertible Notes | Debt | $ | (1,048 | ) | $ | (2,993 | ) | $ | (1,048 | ) | (5,089 | ) | ||||||||||||||||||||||||||||||||||||||||||
In the second quarter of 2013, we issued subordinated convertible notes and related warrants, which are described in the chart below. | Debt - current portion | $ | (962 | ) | $ | - | $ | - | $ | (962 | ) | |||||||||||||||||||||||||||||||||||||||||||
Debt - long-term portion | (86 | ) | (2,993 | ) | (1,048 | ) | (4,127 | ) | ||||||||||||||||||||||||||||||||||||||||||||||
Issuance | Principal Amount of Notes (in thousands) | Creditor's Debt Conversion Right | Stated Annual Interest Rate on Debt | Maturity Date of Debt | Number of Shares Under Warrant | Exercise Price of Warrant | Expiration Date of Warrant | |||||||||||||||||||||||||||||||||||||||||||||||
The discount recorded on the subordinated convertible note held by the Halpern Trust and the replacement senior convertible debenture, and the related deferred finance costs are amortized to interest expense under the effective interest method. As a result we are recognizing interest expense on the Halpern Trust subordinated convertible note at an effective interest rate of 20.9% and on the replacement senior convertible debenture at an effective interest rate of 25.1%. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subordinated Convertible Notes and Warrants | $ | 538 | Convertible immediately at $14.00 per share | 10 | % | July 2015 or | 38,400 | Exercisable immediately at $16.00 per share | July 2017 or May 2018 | |||||||||||||||||||||||||||||||||||||||||||||
Jul-16 | The debt discounts on the other senior convertible debentures and subordinated convertible notes are also being amortized to interest expense under the effective interest method. However, because the fair value at issuance of the conversion features and warrants exceeded the proceeds from these issuances, in each case, under the effective interest method, this will result in the debt discount being expensed when the principal of the convertible debt matures or is redeemed, in proportion to the principal reduction. Deferred finance costs are also being amortized to interest expense under the effective interest method, in a similar fashion. | |||||||||||||||||||||||||||||||||||||||||||||||||||||
The convertible debt and warrants listed in the table above contain full ratchet antidilution provisions and require the holders to provide us with 61 day notice prior to conversion or exercise if the holder would have a beneficial ownership interest in excess of 4.99% immediately after conversion or exercise. The $0.5 million of proceeds from issuance of the convertible notes and related warrants was used for repayment of debt and for general corporate purposes. | During 2012 and 2011, we recognized $0.3 million and $0.2 million of accreted interest on the convertible debt. We made no principal payments on convertible debt during 2012 or 2011. | |||||||||||||||||||||||||||||||||||||||||||||||||||||
With regard to the issuances of convertible notes and related warrants listed in the table above, the total of (i) the $0.5 million fair value of the conversion features issued, (ii) the $0.5 million fair value of the liability warrants issued and (iii) the $0.1 million fair value of our common stock issued, exceeded the $0.5 million proceeds from these issuances, therefore we recorded financing costs of $0.6 million in the second quarter of 2013. The initial debt discounts recorded for the convertible notes equaled the principal amount of the notes at issuance. Because the fair value at issuance of the conversion features and warrants exceeded the proceeds from these issuances, in each case, under the effective interest method, this will result in the debt discount being expensed when the principal of the note matures or is redeemed, in proportion to the principal reduction. | 2012 Convertible Debt Issuances | |||||||||||||||||||||||||||||||||||||||||||||||||||||
In May 2013, we entered into agreements to allow each holder of existing subordinated convertible notes and warrants to invest in additional notes and related warrants and which provided that each holder making an additional investment (i) receive 0.0125 shares of our common stock for each dollar invested and (ii) agree to extend the maturity date for all of their notes to July 2016. Further, each holder of outstanding convertible notes could elect (PIK Election), in lieu of receiving cash interest payments otherwise payable though June 2014 on their existing convertible notes to receive (i) an increase in the number of shares of common stock underlying their notes (ii) an equity warrant to purchase shares of our common stock and (ii) 0.0125 shares of our common stock for each dollar of interest otherwise payable through June 2014. Holders making an additional investment were deemed under the agreement to have made a PIK Election. | A summary of the allocation of the proceeds from the 2012 issuances of the senior convertible debenture, subordinated convertible notes and related warrants follows (in thousands). | |||||||||||||||||||||||||||||||||||||||||||||||||||||
One holder made an additional investment in a subordinated convertible note and related warrant of $0.4 million in May 2013 (included in the issuances discussed two paragraphs above), and, as a result, (i) the maturity date on the holder’s outstanding convertible notes in the principal amount of $1.1 million was extended from July 2015 to July 2016 and (ii) we issued 5,000 shares of common stock to the holder. No gain or loss was recognized as a result of the extension of the maturity date of the existing notes as the terms were not substantially different. | First and Second Quarter of 2012 | Third Quarter of 2012 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Debenture | Notes and Warrants | Debentures and Warrants | Notes and Warrants | |||||||||||||||||||||||||||||||||||||||||||||||||||
Other holders of convertible notes in the principal amount of $0.3 million made the PIK Election, without making an additional investment. | and | Halpern | Other | Replace- | Halpern | Other | ||||||||||||||||||||||||||||||||||||||||||||||||
Warrant | Entities | Investors | New | ment | Entities | Investors | Total | |||||||||||||||||||||||||||||||||||||||||||||||
As a consequence of the PIK Elections, in the second quarter of 2013, we issued 3,026 shares of common stock with a fair value of $0.2 million. In lieu of paying certain interest, we (i) increased the shares of common stock underlying the holders’ convertible notes and (ii) issued the holders warrants (PIK warrants) at an exercise price of $16.00 per share, and a May 2018 expiration, as described in the table below: | (Increases) decreases in: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt - principal | $ | (870 | ) | $ | (2,500 | ) | $ | (1,875 | ) | $ | (290 | ) | $ | (139 | ) | $ | (100 | ) | $ | (900 | ) | $ | (6,674 | ) | ||||||||||||||||||||||||||||||
Issuance | Second | Third | Debt - discount | 870 | 630 | 1,875 | 290 | (661 | ) | 100 | 900 | 4,004 | ||||||||||||||||||||||||||||||||||||||||||
Quarter of 2013 | Quarter of 2013 | Debt - derivative conversion liabilities | (296 | ) | (1,942 | ) | (1,448 | ) | (128 | ) | (105 | ) | (69 | ) | (583 | ) | (4,571 | ) | ||||||||||||||||||||||||||||||||||||
Increase in Shares of Common Stock Underlying PIK Warrant | 4,346 | 3,263 | Derivative warrant liabilities | (648 | ) | (2,473 | ) | (1,848 | ) | (273 | ) | (907 | ) | (88 | ) | (746 | ) | (6,983 | ) | |||||||||||||||||||||||||||||||||||
Increase in Shares of Common Stock Underlying Notes | 4,346 | 3,263 | Debt (carrying amount of old note) | - | 2,152 | - | - | - | - | - | 2,152 | |||||||||||||||||||||||||||||||||||||||||||
Increase in Note Principle Under PIK Election | $ | 60,842 | $ | 45,688 | Equity | - | 1,089 | - | - | - | - | - | 1,089 | |||||||||||||||||||||||||||||||||||||||||
Loss on extinguishment | - | 2,986 | - | - | 1,955 | - | - | 4,941 | ||||||||||||||||||||||||||||||||||||||||||||||
The PIK warrants issued after we entered into the TCA debt agreement are carried as derivative liabilities because the TCA debt is convertible into an indeterminate number of shares in the event of a default. Those warrants had a value of less than $0.1 million as of September 30, 2013. Other PIK warrants were recorded in equity at their grant date fair value (less than $0.1 million). We recognized a loss on extinguishment for the difference between the fair value of the consideration issued and the accrued interest as of the date of the PIK election. Changes in fair value from increases in the shares of common stock underlying the PIK warrants and underlying the related convertible notes, related to the PIK Elections are recorded as interest expense. | Financing expense | 168 | - | 1,376 | 141 | 27 | 59 | 413 | 2,184 | |||||||||||||||||||||||||||||||||||||||||||||
Other long -term assets - deferred finance costs | 144 | 65 | 134 | 23 | (148 | ) | 4 | 73 | 295 | |||||||||||||||||||||||||||||||||||||||||||||
Other Notes | Proceeds, net of finance costs | 632 | (7 | ) | 1,786 | 237 | (22 | ) | 94 | 843 | 3,563 | |||||||||||||||||||||||||||||||||||||||||||
In the second quarter of 2013, we also issued to Mr. Halpern a promissory note in the principal amount of $0.1 million, which was paid in full later in the quarter. | We accounted for the July 2012 issuance of the replacement senior convertible debenture in the principal amount of $1.0 million and related warrant as a significant modification to the January 2012 debenture and related warrant. We recognized a loss on extinguishment for the difference between the fair value of the senior convertible debenture and warrant issued and the total of (i) the fair values of the conversion features embedded in the January 2012 debenture (ii) the carrying amount of the old debenture (zero) and (iii) the proceeds received, net of issue costs. | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Brazil Segment | We accounted for the January 2012 issuance of the $2.5 million subordinated convertible note and related warrant to the Halpern Trust as a significant modification to the old notes and warrant held by Mr. Halpern. We recognized a loss on extinguishment for the difference between the fair value of the subordinated convertible note and warrant issued, and the total of (i) the fair values of the conversion features embedded in the old notes, (ii) the fair value of the old warrant, (iii) the carrying amount of the old notes and (iv) the proceeds received, net of issue costs. The old notes’ embedded conversion features and the old warrant did not qualify as separate derivative liabilities and, therefore, we reduced equity by the January 2012 fair value of the embedded conversion features and warrant. | |||||||||||||||||||||||||||||||||||||||||||||||||||||
All Brazil segment debt is denominated in the Brazilian Real (R$), except advances on export letters of credit which are denominated in U.S. Dollars. | The other issuances of senior convertible debentures, subordinated convertible notes and related warrants were not accounted for as significant modifications and the $3.6 million proceeds from those issuances were allocated to convertible debt and warrants. In each case, the fair value of the warrants and embedded conversion features exceeded the proceeds received, which resulted in the recognition of financing expense on the date of issuance. | |||||||||||||||||||||||||||||||||||||||||||||||||||||
In the first quarter of 2013, Irgovel received R$2.0 million ($1.0 million at the first quarter exchange rate) under a working capital line of credit agreement. The lending bank withheld R$1.0 million ($0.5 million) of the amount borrowed in a bank account, until the second quarter of 2013, when Irgovel had sufficient accounts receivable in its borrowing base to withdraw the funds. The working capital line is payable in monthly installments through September 2015 and bears interest at 17.0% per year. | Changes in the fair value of the derivative conversion and warrant liabilities subsequent to issuance are recognized in change in fair value of derivative warrant and conversion liabilities in the statement of operations. The changes in fair value of derivative liabilities as a result of the July 2012 amendment to the January 2012 and May 2012 subordinated convertible notes and related warrants, are also included in change in fair value of derivative warrant and conversion liabilities in the statement of operations. As a result of a July 2012 amendment, the exercise price on the warrants related to the January 2012 and May 2012 subordinated convertible notes decreased from $24.00 per share to $16.00 per share and the number of underlying shares was increased proportionately. In addition the terms of all of the subordinated convertible notes outstanding, were modified such that the maturity date was extended from January and May 2015 to July 2015. | |||||||||||||||||||||||||||||||||||||||||||||||||||||
In the third quarter of 2013, Irgovel converted R$1.6 million of payroll taxes payable into a debt agreement, payable in monthly installments through June 2018 and bears interest at 12.0% per year. | The $2.4 million of the $3.6 million in proceeds from the 2012 issuances of convertible debt and related warrants were used to make the final distributions to the unsecured creditors in January 2012 and the remainder was used for general corporate purposes. | |||||||||||||||||||||||||||||||||||||||||||||||||||||
2011 Convertible Debt Issuances | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
During 2011, we issued several convertibles notes, with related warrants to our financial advisor, who became a director of RiceBran Technologies in January 2012. Below is a summary of the transactions. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Transaction | Principal amount of Note(s) (in thousands) | Stated Annual Interest Rate on Note(s) | Per Share Note Conversion Price | Cash Received in Transaction (in thousands) | Number of Shares Under Equity Warrant(s) | Average Exercise Price of Warrant(s) | ||||||||||||||||||||||||||||||||||||||||||||||||
First quarter 2011 | -1 | $ | 500 | 10 | % | $ | 40 | $ | 500 | 2,500 | $ | 50 | ||||||||||||||||||||||||||||||||||||||||||
Second quarter 2011 | -2 | 730 | 10 | % | 46 | 230 | 3,650 | 46 | ||||||||||||||||||||||||||||||||||||||||||||||
Third quarter 2011, event A | -2 | 270 | 10 | % | 46 | 270 | 1,350 | 46 | ||||||||||||||||||||||||||||||||||||||||||||||
Third quarter 2011, event B | -2 | 730 | 10 | % | 46 | 730 | 3,650 | 46 | ||||||||||||||||||||||||||||||||||||||||||||||
Fourth quarter 2011 | -3 | 2,323 | 10 | % | 40 | 550 | 11,616 | 44 | ||||||||||||||||||||||||||||||||||||||||||||||
Total in 2011 | $ | 2,280 | 22,766 | |||||||||||||||||||||||||||||||||||||||||||||||||||
-1 | The convertible note and the related warrant issued in the first quarter of 2011, were terminated and cancelled in the second quarter of 2011 when the second quarter transaction occurred. | |||||||||||||||||||||||||||||||||||||||||||||||||||||
-2 | The convertible notes and related warrants issued in the second and third quarters of 2011, were terminated and cancelled in the fourth quarter of 2011 when the fourth quarter transaction occurred. | |||||||||||||||||||||||||||||||||||||||||||||||||||||
-3 | The convertible notes and related warrants issued in the fourth quarter of 2011, were terminated and cancelled in the first quarter of 2012, when a subordinated convertible note was issued to the Halpern Entities, as described further below. | |||||||||||||||||||||||||||||||||||||||||||||||||||||
The proceeds received from these transactions were allocated to convertible notes and warrants. We concluded in each case that the warrants were indexed to our common stock and should be recorded as equity. We determined the fair value of each warrant. We then determined the fair value of each convertible note as the total of (i) the fair value of the note, determined by discounting cash flows of the payments due under the note at 25%, plus (ii) the fair value of the related conversion feature. Based on the relative fair values, we allocated the proceeds to the convertible note and equity for the warrant portion. In each case, we concluded that the embedded conversion feature need not be accounted for as a derivative since it was indexed to our common stock. We then determined whether the conversion feature was a beneficial conversion feature based on the effective conversion price. If there was a beneficial conversion feature, the amount of that feature was recorded in equity with an offsetting increase in debt discount for that convertible note. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
We recognized no gain or loss as a result of the 2011 refinancing of any of the convertible notes. During 2011, we received a total of $2.3 million from issuance of the notes and related warrants. We recorded in equity $0.5 million for the warrants and the beneficial conversion features, $0.1 million to other assets and $1.9 million to debt. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Brazil Segment | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
All Brazil segment debt is denominated in the Brazilian Real (R$), except advances on export letters of credit which are denominated in U.S. Dollars. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Capital Expansion Loans | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
In December 2011, Irgovel entered into agreements with the Bank of Brazil. Under the agreements, Irgovel may borrow up to R$2.8 million on one agreement and R$6.7 million on another agreement (a total of $4.7 million based on the December 31, 2012 exchange rate). The annual interest rate on the loans is 6.5%. Interest is payable quarterly on the amounts outstanding and the maturity date of the loans is December 2021. Irgovel must make monthly principal payments under each of the loans with the first payment due on January 2014. Irgovel used R$1.5 million of the proceeds for working capital purposes and the remainder for the purchase of equipment and machinery. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
In July 2012, Irgovel entered into a third agreement with the bank under which it borrowed R$1.7 million ($0.9 million based on the December 31, 2012 exchange rate) for the purchase of certain equipment at an annual interest rate of 5.5%. Interest is payable quarterly on the amounts outstanding and the maturity date of the loans is July 2019. Irgovel must make monthly principal payments under the loan with the first payment due August 2015. The loan is secured by the related equipment. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Equipment Financing | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Irgovel has entered into certain equipment financing arrangements with annual interest rates that range from 13.5% to 21.5%, and average 16.2%. Interest and principal on this debt is payable monthly and payments extend through March 2016. This debt is secured by the related equipment. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Working Capital Lines of Credit | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Irgovel has working capital lines of credit secured by accounts receivable. The total amount of borrowing capacity is R$3.6 million ($1.8 million based on the December 31, 2012, exchange rate) but cannot exceed 40%-100% of the collateral, depending on the agreement. The annual interest rates on this debt range from 12.4% to 44.5%, and average 23.3%. Principal maturities of amounts outstanding at December 31, 2012, extend through May 2014. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Advances on Export Letters of Credit | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Irgovel obtains advances against certain accounts receivable backed by export letters of credit. The annual interest rates on these advances range from 3.7% to 8.0%, and average 5.6%. Principal maturities of amounts outstanding at December 31, 2012, extend through July 2013. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Special Tax Programs | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Irgovel has unsecured notes payable for Brazilian federal and social security taxes under a special Brazilian government tax program. Amounts due under the special tax program are part of an amnesty program relative to unpaid taxes that existed prior to our acquisition of Irgovel in 2008. Principal and interest payments are due monthly through 2022. Interest on the notes is payable monthly at the Brazilian SELIC target rate, which was 7.3% at December 31, 2012. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Irgovel qualified for a modification of one of its special tax program debts. The debt was lowered by $0.3 million in the second quarter of 2011 in exchange for a reduction in available net operating losses for Brazil tax purposes valued at $0.3 million. We recorded no gain or loss on the transaction. Prior to the modification the maturities on this debt ranged from 2011 through 2017. As modified, debt maturities range from 2011 through 2022. |
PREPETITION_LIABILITIES_10Q
PRE-PETITION LIABILITIES (10-Q) | 9 Months Ended |
Sep. 30, 2013 | |
PRE-PETITION LIABILITIES [Abstract] | ' |
PRE-PETITION LIABILITIES | ' |
NOTE 10. PRE-PETITION LIABILITIES | |
On November 10, 2009, we filed a voluntary petition for relief under Chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the District of Arizona in the proceeding entitled In re: NutraCea, Case No. 2:09-bk-28817-CGC. None of our subsidiaries were included in the bankruptcy filing. Creditors voted overwhelmingly in favor of an amended plan of reorganization which called for the payment in full of all allowed claims, and the plan became effective on November 30, 2010. In January 2012, we made our final $1.6 million distribution to the general unsecured creditors. |
EMPLOYEE_BONUS_PLAN_10Q
EMPLOYEE BONUS PLAN (10-Q) | 9 Months Ended | 12 Months Ended |
Sep. 30, 2013 | Dec. 31, 2012 | |
EMPLOYEE BONUS PLAN [Abstract] | ' | ' |
EMPLOYEE BONUS PLAN | ' | ' |
NOTE 11. EMPLOYEE BONUS PLAN | NOTE 16. EMPLOYEE BONUS PLAN | |
In 2010, our board of directors approved a cash incentive bonus plan. As of November 12, 2013, the plan, as amended, provides for payment of $0.6 million to employees, still employed at the time of payment, when (i) we are cash flow positive, defined by our board as earnings before interest, taxes, depreciation, amortization and certain non-cash charges, and (ii) cash is available for the payment as determined by our board at its sole discretion. In 2013, our board of directors approved an executive bonus plan which provides for payments of $0.3 million to employees, still employed at the time of payment, when cash is available for the payment as determined by our board at its sole discretion. Because the consolidated operating cash flow and cash availability conditions were not met as of September 30, 2013, and December 31, 2012, our board of directors has not approved payments and no accruals have been recorded for these bonuses. | In 2010, our board of directors approved a cash incentive bonus plan. As of December 31, 2012, the plan provided for payment of $0.5 million to employees, employed at the time of payment, if all of the following conditions are met: (i) court approval of our Plan of Reorganization and successfully exiting the Chapter 11 bankruptcy process, (ii) being cash flow positive, defined by our board as earnings before interest, taxes, depreciation, amortization and certain non-cash charges, and (iii) cash availability as determined by our board at its sole discretion. Because the consolidated operating cash flow condition and cash availability condition were not met as of December 31, 2012 and 2011, our board of directors has not approved payments and no accruals have been recorded. |
COMMITMENTS_AND_CONTINGENCIES_1
COMMITMENTS AND CONTINGENCIES (10-Q) | 9 Months Ended | 12 Months Ended |
Sep. 30, 2013 | Dec. 31, 2012 | |
COMMITMENTS AND CONTINGENCIES [Abstract] | ' | ' |
COMMITMENTS AND CONTINGENCIES | ' | ' |
NOTE 12. COMMITMENTS AND CONTINGENCIES | NOTE 15. COMMITMENTS AND CONTINGENCIES | |
In addition to the matters discussed below, from time to time we are involved in litigation incidental to the conduct of our business. When applicable, we record accruals for contingencies when it is probable that a liability will be incurred and the amount of loss can be reasonably estimated. While the outcome of lawsuits and other proceedings against us cannot be predicted with certainty, in the opinion of management, individually or in the aggregate, no such lawsuits are expected to have a material effect on our financial position or results of operations. Defense costs are expensed as incurred and are included in professional fees. | Employment Contracts | |
Purchase Commitments | We have entered into employment and other agreements with certain executives and other employees that provide for compensation and certain other benefits. These agreements provide for severance payments under certain circumstances. | |
As of September 30, 2013, future capital expenditures on the Brazil segment capital expansion project are expected to total R$2.5 million ($1.1 million at the September 30, 2013 exchange rate) of which R$1.3 million ($0.6 million) was included in accounts payable as of September 30, 2013. We have a firm commitment and are obligated under contract for R$1.0 million ($0.4 million) of the future capital expenditures as of September 30, 2013. | In the normal course of business, we periodically enter into employment agreements which incorporate indemnification provisions. While the maximum amount to which we may be exposed under such agreements cannot be reasonably estimated, we maintain insurance coverage, which we believe will effectively mitigate our obligations under these indemnification provisions. No amounts have been recorded in our financial statements with respect to any obligations under such agreements. | |
Litigation | Leases | |
Irgovel Purchase | We lease certain properties under various operating lease arrangements that expire over the next twenty one years. These leases generally provide us with the option to renew the lease at the end of the lease term. Future minimum payments under these commitments as of December 31, 2012, are as follows: $0.4 million for 2013; $0.3 million for 2014; $0.3 million in 2015; $0.3 million in 2016, $0.1 million in 2017 and $1.2 million thereafter. We incurred lease expense of $0.4 million in 2012 and $0.5 million in 2011. | |
On August 28, 2008, former Irgovel stockholder David Resyng filed an indemnification suit against Irgovel, Osmar Brito and the remaining former Irgovel stockholders (Sellers), requesting: (i) the freezing of the escrow account maintained in connection with the transfer of Irgovel’s corporate control to us and the presentation of all documentation related to the transaction, and (ii) damages in the amount of the difference between (a) the sum received by David Resyng in connection with the judicial settlement agreement executed in the action for the partial dissolution of the limited liability company filed by David Resyng against Irgovel and the Sellers and (b) the amount received by the Sellers in connection with the sale of Irgovel’s corporate control to us, in addition to moral damages as determined in the court’s discretion. The amount of damage claimed by Mr. Resyng is approximately $3 million. | Litigation | |
We believe that the filing of the above lawsuit is a fundamental default of the obligations undertaken by the Sellers under the Quotas Purchase Agreement for the transfer of Irgovel’s corporate control, executed by and among the Sellers and us on January 31, 2008 (Purchase Agreement). Consequently, we believe that the responsibility for any indemnity, costs and expenses incurred or that may come to be incurred by Irgovel and/or us in connection with the above lawsuit is the sole responsibility of the Sellers. | In addition to the matters discussed below, from time to time we are involved in litigation incidental to the conduct of our business. When applicable, we record accruals for contingencies when it is probable that a liability will be incurred and the amount of loss can be reasonably estimated. While the outcome of lawsuits and other proceedings against us cannot be predicted with certainty, in the opinion of management, individually or in the aggregate, no such lawsuits are expected to have a material effect on our financial position or results of operations. | |
On February 6, 2009, the Sellers filed a collection lawsuit against us seeking payment of the second installment of the purchase price under the Purchase Agreement, which the Sellers allege is approximately $1.0 million. We have withheld payment of the second installment pending resolution of the Resyng lawsuit noted above. Our parent company has not been served with any formal notices in regard to this matter. To date, only Irgovel has received formal legal notice. In addition, the Purchase Agreement requires that all disputes between us and the Sellers be adjudicated through arbitration. As part of the Purchase Agreement, $2.0 million was deposited into an escrow account to cover contingencies with the net remaining funds payable to the Sellers upon resolution of all contingencies. We believe any payout due to the lawsuit will be made out of the escrow account. As of September 30, 2013 and December 31, 2012, the balance in the escrow account was $1.9 million and is included in restricted cash in our balance sheets. There is an escrow liability related to the lawsuit in accrued expenses on our balance sheets as of September 30, 2013 and December 31, 2012, totaling $1.3 million and $1.4 million. When the escrow account was funded, we established an accrued liability equal to the amount of the escrow for contingencies and the net balance due to the Sellers under the terms of the Purchase Agreement. As of September 30, 2013, $0.7 million of pre-acquisition contingencies have either been paid or specifically identified and accrued, leaving a balance of $1.4 million to settle any remaining contingencies. We believe that there is no additional material exposure as any amounts determined to be owed as a result of the above noted litigation and contingencies will be covered by the escrow account. We agreed to pay ninety percent of any funds received from the escrow account to Nutra SA, with no resulting change in our Nutra SA voting rights. | Defense costs are expensed as incurred and are included in professional fees. | |
Diabco Life Sciences, LLC | Irgovel Stockholders Lawsuit | |
In January 2012, we filed a complaint in the Superior Court of California, Sacramento County, seeking damages arising out of Diabco Life Sciences, LLC’s (Diabco) breach of a 2008 promissory note in the principal amount of $0.5 million. A one-day court trial took place in August 2013, at which time Diabco stipulated that total damages through July 2013, including interest and late fees, amounted to $0.9 million. In September 2013, the court issued its tentative statement of decision indicating that judgment will be entered in our favor in the amount of $0.9 million as of July 2013, plus interest. We are awaiting the court’s final statement of decision at which time judgment will be entered thereon. We have not yet been able to assess the likelihood of realization of any judgment, if or when it is entered, and have no receivable from Diabco recorded in the accompanying financial statements. | On August 28, 2008, former Irgovel stockholder David Resyng filed an indemnification suit against Irgovel, Osmar Brito and the remaining former Irgovel stockholders (Sellers), requesting: (i) the freezing of the escrow account maintained in connection with the transfer of Irgovel’s corporate control to us and the presentation of all documentation related to the transaction, and (ii) damages in the amount of the difference between (a) the sum received by David Resyng in connection with the judicial settlement agreement executed in the action for the partial dissolution of the limited liability company filed by David Resyng against Irgovel and the Sellers and (b) the amount received by the Sellers in connection with the sale of Irgovel’s corporate control to us, in addition to moral damages as determined in the court’s discretion. The amount of damage claimed by Mr. Resyng is approximately $3 million. | |
We believe that the filing of the above lawsuit is a fundamental default of the obligations undertaken by the Sellers under the Quotas Purchase Agreement for the transfer of Irgovel’s corporate control, executed by and among the Sellers and us on January 31, 2008 (Purchase Agreement). Consequently, we believe that the responsibility for any indemnity, costs and expenses incurred or that may come to be incurred by Irgovel and/or us in connection with the above lawsuit is the sole responsibility of the Sellers. | ||
On February 6, 2009, the Sellers filed a collection lawsuit against us seeking payment of the second installment of the purchase price under the Purchase Agreement, which the Sellers allege is approximately $1.0 million. We have withheld payment of the second installment pending resolution of the Resyng lawsuit noted above. The Parent Company has not been served with any formal notices in regard to this matter so far. To date, only Irgovel has received formal legal notice. In addition, the Purchase Agreement requires that all disputes between us and the Sellers be adjudicated through arbitration. As part of the Purchase Agreement, $2.0 million was deposited into an escrow account to cover contingencies with the net remaining funds payable to the Sellers upon resolution of all contingencies. We believe any payout due to the lawsuit will be made out of the escrow account. As of December 31, 2012 and 2011, the balance in the escrow account was $1.9 million and is included in restricted cash in our balance sheets. There is an escrow liability related to the lawsuit in accrued expenses on our balance sheets as of December 31, 2012 and 2011 totaling $1.4 million and $1.9 million. When the escrow account was funded, we established an accrued liability equal to the amount of the escrow for contingencies and the net balance due to the Sellers under the terms of the Purchase Agreement. As of December 31, 2012, $0.6 million of pre-acquisition contingencies have either been paid or specifically identified and accrued, leaving a balance of $1.4 million to settle any remaining contingencies. We believe that there is no additional material exposure as any amounts determined to be owed as a result of the above noted litigation and contingencies will be covered by the escrow account. |
EQUITY_SHAREBASED_COMPENSATION
EQUITY, SHARE-BASED COMPENSATION AND LIABILITY WARRANTS (10-Q) | 9 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Sep. 30, 2013 | Dec. 31, 2012 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
EQUITY AND SHARE-BASED COMPENSATION [Abstract] | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
EQUITY AND SHARE-BASED COMPENSATION | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
NOTE 13. EQUITY, SHARE-BASED COMPENSATION AND LIABILITY WARRANTS | NOTE 11. EQUITY AND SHARE-BASED COMPENSATION | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
On October 28, 2013, our board of directors approved a 1 for 200 reverse split of our common stock. We began trading on a post split basis on November 18, 2013. All share and per share information has been retrospectively adjusted for all prior periods presented giving retroactive effect to the reverse stock split. Such adjustments include calculations of our weighted averages number of shares outstanding and loss per share, as well as disclosures regarding our share-based compensation and convertible debt. | On October 28, 2013, our board of directors approved a 1 for 200 reverse split of our common stock. We began trading on a post split basis on November 18, 2013. All share and per share information has been retrospectively adjusted for all prior periods presented giving retroactive effect to the reverse stock split. Such adjustments include calculations of our weighted averages number of shares outstanding and loss per share, as well as disclosures regarding our share-based compensation and convertible debt. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
A summary of equity activity for the nine months ended September 30, 2013, (in thousands, except share data) follows. | We have never declared or paid dividends on our common stock and have no plans to pay dividends in the foreseeable future. Pursuant to the terms of the senior convertible debentures, we may not pay any dividends while a debenture is outstanding. Cash provided by operations in our Brazil segment is generally unavailable for distribution to our Corporate and USA segments pursuant to the terms of the limited liability company agreement for Nutra SA. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common Stock | Accumulated | Accumulated Other Comprehensive | Total | In lieu of paying cash to non-employee board members for board retainer fees for the last three quarters of 2011, we issued 6,036 shares of common stock. | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares | Amount | Deficit | Loss | Equity | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Balance, December 31, 2012 | 1,038,080 | $ | 210,396 | $ | (204,420 | ) | $ | (1,540 | ) | $ | 4,436 | A summary of stock option and warrant activity for 2012 and 2011 follows. | ||||||||||||||||||||||||||||||||||||||||||||
Share-based compensation, options | - | 380 | - | - | 380 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Conversion of senior subordinated debenture | 28,429 | 500 | - | - | 500 | Options | Equity and Liability Warrants | |||||||||||||||||||||||||||||||||||||||||||||||||
Common stock issued for fees and services | 37,088 | 613 | - | - | 613 | Shares Under Options | Weighted Average Exercise Price | Weighted Average Remaining Contractual Life (Years) | Shares Under Warrants | Weighted Average Exercise Price | Weighted Average Remaining Contractual Life (Years) | |||||||||||||||||||||||||||||||||||||||||||||
Warrants issued for fees and services | - | 156 | - | - | 156 | Outstanding, January 1, 2011 | 227,426 | $ | 60 | 6.8 | 202,148 | $ | 254 | 2.3 | ||||||||||||||||||||||||||||||||||||||||||
Foreign currency translation | - | - | - | (458 | ) | (458 | ) | Granted | 26,022 | 44 | 25,794 | 46 | ||||||||||||||||||||||||||||||||||||||||||||
Net loss | - | - | (9,851 | ) | - | (9,851 | ) | Impact of anti-dilution clauses | - | NA | 31,517 | NA | ||||||||||||||||||||||||||||||||||||||||||||
Balance September 30, 2013 | 1,103,597 | $ | 212,045 | $ | (214,271 | ) | $ | (1,998 | ) | $ | (4,224 | ) | Exercised | - | NA | - | NA | |||||||||||||||||||||||||||||||||||||||
RiceBran Technologies | Forfeited, expired or cancelled | (60,504 | ) | 72 | (25,512 | ) | 148 | |||||||||||||||||||||||||||||||||||||||||||||||||
Notes to Condensed Consolidated Financial Statements (Unaudited) | Outstanding, December 31, 2011 | 192,944 | 54 | 6.3 | 233,947 | 208 | 1.7 | |||||||||||||||||||||||||||||||||||||||||||||||||
Granted | 29,060 | 30 | 423,782 | 20 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
In June 2013, our shareholders approved an increase in the number of our authorized shares of common stock from 2,500,000 to 6,000,000. | Impact of anti-dilution clauses | - | NA | 518,720 | NA | |||||||||||||||||||||||||||||||||||||||||||||||||||
Impact of amendment | - | NA | 78,215 | NA | ||||||||||||||||||||||||||||||||||||||||||||||||||||
A summary of stock option and warrant activity for the nine months ended September 30, 2013, follows. | Exercised | - | NA | (25,015 | ) | 20 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Forfeited, expired or cancelled | (52,750 | ) | 68 | (422,880 | ) | 86 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Options | Equity and Liability Warrants | Outstanding, December 31, 2012 | 169,254 | $ | 32 | 6.3 | 806,769 | $ | 24 | 3.5 | ||||||||||||||||||||||||||||||||||||||||||||||
Shares Under Options | Weighted Average Exercise Price | Weighted Average Remaining Contractual Life (Years) | Shares Under Warrants | Weighted Average Exercise Price | Weighted Average Remaining Contractual Life (Years) | Exercisable, December 31, 2012 | 143,522 | $ | 34 | 5.9 | 713,969 | $ | 26 | 3.3 | ||||||||||||||||||||||||||||||||||||||||||
Outstanding, December 31, 2012 | 169,254 | $ | 32 | 6.3 | 806,769 | $ | 24 | 3.5 | ||||||||||||||||||||||||||||||||||||||||||||||||
Granted (1) | 37,500 | 16 | 54,581 | 16 | Options | |||||||||||||||||||||||||||||||||||||||||||||||||||
Impact of anti-dilution clauses | - | - | 2,082 | NA | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Exercised | - | - | - | - | Our board of directors adopted our 2010 Equity Incentive Plan (2010 Plan) in February 2010. A total of 125,000 shares of common stock were initially reserved for issuance under the 2010 Plan. The amount reserved increases annually each January 1st by 5% of the outstanding shares as of the prior December 31st. Additionally, in 2011 the board approved an 40,000 increase in the number of shares of common stock reserved under the plan. Under the terms of the 2010 Plan, we may grant options to purchase common stock and shares of common stock to officers, directors, employees or consultants providing services on such terms as are determined by the board of directors. Our board of directors administers the 2010 Plan, determines vesting schedules on plan awards and may accelerate the vesting schedules for award recipients. The options granted under the 2010 Plan have terms of up to 10 years. | |||||||||||||||||||||||||||||||||||||||||||||||||||
Forfeited, expired or cancelled | (27,551 | ) | 54 | (146,106 | ) | 66 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Outstanding, September 30, 2013 | 179,203 | $ | 24.4 | 6.4 | 717,326 | $ | 16 | 3.6 | December 31, | |||||||||||||||||||||||||||||||||||||||||||||||
Exercisable, September 30, 2013 | 144,887 | $ | 26 | 5.9 | 717,326 | $ | 16 | 3.6 | 2012 | |||||||||||||||||||||||||||||||||||||||||||||||
-1 | Includes adjustments to shares underlying PIK warrants. | Initially reserved | 125,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Additionally reserved - annual increases | 99,156 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Options | Additionally reserved - board action | 40,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Options granted since inception, net of forfeited, expired or cancelled | (114,890 | ) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
In April 2013, our board increased the number of shares of common stock that each non-employee director automatically receives annually each January 1 under our 2010 Equity Incentive Plan from 1,250 to 5,000 shares. In connection with the increase in the automatic director grant, in April 2013, our board granted each of our five non-employee directors a stock option to purchase up to 3,750 shares of common stock. Each option has an exercise price of $16.00 per share, vests in nine equal monthly installments ending December 31, 2013, and expires in April 2023. In January 2013, we issued each of those five non-employee directors an option for the purchase of up to 1,250 shares of common stock under the non-employee director automatic grant provision. Each option has an exercise price of $16.00 per share, vests in twelve equal monthly installments ending December 2013, and expires in January 2023. | Stock granted since inception | (60,282 | ) | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Available for issuance under the 2010 Plan | 88,984 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
In April 2013, the Board granted each of the two directors serving on the Strategic Committee and consulting special counsel a stock option to purchase up to 1,250 shares of common stock. Each option has an exercise price of $16.00 per share, vests in twelve equal monthly installments ending in March 2014 and expires in April 2018. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Our board of directors adopted the 2005 Equity Incentive Plan (2005 Plan) in May 2005 and our shareholders approved the 2005 Plan in September 2005. Under the terms of the 2005 Plan, we could grant options to purchase common stock and shares of common stock to officers, directors, employees or consultants providing services on such terms as are determined by the board of directors. Options granted under the 2005 Plan have terms of up to 10 years. There are no longer any shares reserved for future issuance under the 2005 Plan. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
We have outstanding a total of 17,077 options awarded to current and former directors, employees and consultants at various times beginning in 2004 through 2009 that do not fall under the plans described above. Expiration periods, typically ten years, and other terms of these non-plan specific options are not materially different from those issued under the 2010 Plan and 2005 Plan. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
We have outstanding warrants classified as equity (equity warrants) and as derivative warrant liability (liability warrants). We have certain warrant agreements in effect for outstanding liability warrants that contain antidilution clauses. Under the antidilution clauses, in the event of equity issuances, we may be required to lower the exercise price on liability warrants and increase the number of shares underlying liability warrants. Equity issuances may include issuances of our common stock, certain awards of options to employees, and issuances of warrants and/or other convertible instruments below a certain exercise price. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-based compensation expenses related to options are included in selling, general and administrative expenses in the statements of operations, and consisted of the following (in thousands): | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
The April 2013 issuances of convertible debt and related warrants triggered the antidilution clauses in certain warrants and, as a result, we lowered the exercise price and increased the number of underlying shares on those liability warrants in April 2013. The affected warrants subsequently expired later in April 2013 with 146,106 underlying shares. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
RiceBran Technologies | 2012 | 2011 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Notes to Condensed Consolidated Financial Statements (Unaudited) | Consultants | $ | 42 | $ | 14 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Directors | 285 | 280 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
The following table summarizes information related to outstanding warrants: | Employees | 152 | 112 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Executive officers | 444 | 501 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
As of September 30, 2013 | As of December 31, 2012 | Total share-based compensation expense, options | $ | 923 | $ | 907 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Range of Exercise Prices | Type of Warrant | Shares Under Warrants | Weighted Average Exercise Price | Weighted Average Remaining Contractual Life (Years) | Shares Under Warrants | Weighted Average Exercise Price | Weighted Average Remaining Contractual Life (Years) | |||||||||||||||||||||||||||||||||||||||||||||||||
$ | 14.00-$16.00 | Liability (1) | 695,390 | $ | 16 | 3.6 | 656,990 | $ | 16 | 4.2 | The following table summarizes option activity during 2012 and 2011: | |||||||||||||||||||||||||||||||||||||||||||||
$ | 16 | Liability (2) | 4,005 | 16 | 4.8 | - | - | - | ||||||||||||||||||||||||||||||||||||||||||||||||
$ | 16 | Equity | 12,176 | 16 | 4.7 | - | - | - | Employees and Directors | Consultants | ||||||||||||||||||||||||||||||||||||||||||||||
$ | 46 | Equity | 3,029 | 46 | 3.2 | 3,029 | 46 | 3.9 | Weighted Average Exercise Price | Shares Under Options | Weighted Average Exercise Price | Shares Under Options | Total Number of Options | |||||||||||||||||||||||||||||||||||||||||||
$ | 66 | Liability (1) | - | - | - | 144,023 | 66 | 0.3 | Outstanding, January 1, 2011 | $ | 82 | 218,808 | $ | 292 | 8,618 | 227,426 | ||||||||||||||||||||||||||||||||||||||||
$ | 138 | Equity | 2,727 | 138 | 0.1 | 2,727 | 138 | 0.8 | Granted | 42 | 22,022 | 62 | 4,000 | 26,022 | ||||||||||||||||||||||||||||||||||||||||||
717,327 | $ | 16 | 3.6 | 806,769 | $ | 24 | 3.5 | Forfeited, expired or cancelled | 68 | (60,336 | ) | 2,000.00 | (168 | ) | (60,504 | ) | ||||||||||||||||||||||||||||||||||||||||
Exercised | NA | - | NA | - | - | |||||||||||||||||||||||||||||||||||||||||||||||||||
-1 | The warrant contain full ratchet anti-dilution provisions. | Outstanding, December 31, 2011 | 48 | 180,494 | 152 | 12,450 | 192,944 | |||||||||||||||||||||||||||||||||||||||||||||||||
-2 | The warrants are classified as liability warrants because an indeterminate number of shares are issuable under the TCA debt agreement. | Granted | 26 | 28,060 | 16 | 1,000 | 29,060 | |||||||||||||||||||||||||||||||||||||||||||||||||
Forfeited, expired or cancelled | 58 | (50,250 | ) | 266 | (2,500 | ) | (52,750 | ) | ||||||||||||||||||||||||||||||||||||||||||||||||
Exercised | NA | - | NA | - | - | |||||||||||||||||||||||||||||||||||||||||||||||||||
Outstanding, December 31, 2012 | $ | 26 | 158,304 | $ | 106 | 10,950 | 169,254 | |||||||||||||||||||||||||||||||||||||||||||||||||
Exercisable, December 31, 2012 | $ | 28 | 134,155 | $ | 112 | 9,367 | 143,522 | |||||||||||||||||||||||||||||||||||||||||||||||||
Exercisable, December 31, 2011 | $ | 52 | 129,571 | $ | 190 | 8,867 | 138,438 | |||||||||||||||||||||||||||||||||||||||||||||||||
The following are the weighted-average assumptions used in valuing stock options: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2012 | 2011 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair value of options granted | $ | 20 | $ | 38 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Volatility | 109.2 | % | 101.5 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Risk free interest rate | 0.9 | % | 0.8 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Expected life of options (in years) | 6.1 | 5.2 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Expected dividends | - | - | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Forfeiture rate | 5 | % | 5 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||
The following table summarizes information related to outstanding and exercisable options: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
As of December 31, 2012 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Outstanding | Exercisable | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Range of Exercise Prices | Shares Under Options | Weighted Average Exercise Price | Weighted Average Remaining Contractual Life (Years) | Shares Under Options | Weighted Average Exercise Price | Weighted Average Remaining Contractual Life (Years) | ||||||||||||||||||||||||||||||||||||||||||||||||||
$ | 16 | 110,212 | $ | 16 | 7 | 86,063 | $ | 16 | 6.7 | |||||||||||||||||||||||||||||||||||||||||||||||
$ | 28 | 3,540 | 28 | 9.2 | 3,540 | 28 | 9.2 | |||||||||||||||||||||||||||||||||||||||||||||||||
$ | 40 | 34,064 | 40 | 5.6 | 34,064 | 40 | 5.6 | |||||||||||||||||||||||||||||||||||||||||||||||||
$ | 60 | 15,000 | 60 | 2 | 15,000 | 60 | 2 | |||||||||||||||||||||||||||||||||||||||||||||||||
$ | 74 | 3,438 | 74 | 8.2 | 1,855 | 74 | 8.2 | |||||||||||||||||||||||||||||||||||||||||||||||||
$ | 242 | 500 | 242 | 3 | 500 | 242 | 3 | |||||||||||||||||||||||||||||||||||||||||||||||||
$ | 300 | 2,500 | 300 | 0.4 | 2,500 | 300 | 0.4 | |||||||||||||||||||||||||||||||||||||||||||||||||
$ | 16.00 to $300.00 | 169,254 | 32 | 6.3 | 143,522 | 34 | 5.9 | |||||||||||||||||||||||||||||||||||||||||||||||||
In 2012, we issued 15,022 shares of common stock to retiring directors in exchange for the surrender of vested stock options exercisable for 23,710 shares of common stock. The fair value of the options surrendered on the date of the stock issuances was $0.3 million and fair value of the stock at issuances was $0.3 million. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
For 2012, our non-employee directors agreed to accept stock options in lieu of cash representing one half of the board retainer fees to which they otherwise would have been entitled. As a result, we issued options for the purchase of 6,090 shares of common stock in 2012, at an exercise price of $28.00 per share. The stock options vested in installments during 2012. The $0.2 million grant date fair value of the options equaled the cash fees to which the directors were otherwise entitled. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
In 2012, our three executive officers agreed to accept stock options in lieu of receiving their full salary in cash. Our three executive officers received cash equal to either 83.3% or 90.0% of their stated contract salary, as detailed in their employment agreements, and these officers were collectively issued stock options for the purchase of up to 4,263 shares of common stock at an exercise price equal to $24.00 per share. The options vested in installments during 2012. The $0.1 million grant date fair value of the options equaled the officers’ salary forbearance. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
In 2012, we lowered the exercise price on outstanding options held by certain employees for the purchase of up to 108,588 shares of common stock to $16.00 per share from an average exercise price of $38.00 per share. The stock price on the date of the re-pricing was $14.00 per share. No other terms of the options were modified. We recorded expense of less than $0.1 million in 2012, representing the difference between the fair value of the options before and after the modification. Total unrecognized compensation increased less than $0.1 million as a result of the modification. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
In 2011, we entered into amendments to employment agreements with each of our four executive officers. Twenty percent of each officer’s salary for the last six months of 2011 was paid in stock options instead of in cash. The options vested and became exercisable in installments during 2011. Under the amendments we issued options to purchase 10,584 shares of common stock, at an average exercise price of $40.00, and an average initial term of 1.6 years. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
In 2010, we reached an agreement to settle all potential claims associated with the employment of Mr. Brad Edson, our former chief executive officer. The agreement was subject to the approval of the Bankruptcy Court and became effective upon court approval in 2011. Mr. Edson agreed to return to NutraCea $0.4 million, representing a bonus earned in 2008. We recorded a receivable for the return of the bonus. The corresponding income reduced selling, general and administrative expenses in the first quarter of 2011. As partial payment of the receivable, Mr. Edson forfeited 30,000 options granted in 2004 and returned 175 shares of common stock in payment of $0.3 million of his obligation. The options had an exercise price of $60.00 per share and were outstanding and exercisable as of December 31, 2010. We reduced the receivable from Mr. Edson, reduced equity by $0.3 million, and cancelled the options in 2011, when the Bankruptcy Court approved the agreement. The remaining $0.1 million receivable remains unpaid and reserved for due to uncertainty with regard to the collectability of the receivable as of December 31, 2012. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
In 2011, we reached an agreement to settle all potential claims associated with the employment of Mr. Todd Crow, our former chief financial officer. As part of the settlement, Mr. Crow was required to forfeit 8,315 options and return 48 shares of common stock held. The agreement was subject to the approval of the Bankruptcy Court and became effective upon court approval in 2011. We cancelled the stock and options in 2011. The options had an average exercise price of $74.00 per share and were outstanding and exercisable as of December 31, 2010. No value was assigned to the cancelled stock or options because we transferred no cash or other assets in exchange. In connection with the settlement, Mr. Crow agreed to withdraw his $0.2 million bankruptcy claim. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
We have outstanding warrants classified as equity (equity warrants) and as warrant liability (liability warrants). | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Equity Warrants | Liability Warrants | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares Under Equity Warrants | Weighted Average Exercise Price | Weighted Average Remaining Contractual Life (Years) | Shares Under Liability Warrants | Weighted Average Exercise Price | Weighted Average Remaining Contractual Life (Years) | |||||||||||||||||||||||||||||||||||||||||||||||||||
Balance, January 1, 2011 | 2,727 | $ | 138 | 2.8 | 199,421 | $ | 256 | 2.3 | ||||||||||||||||||||||||||||||||||||||||||||||||
Granted | 25,795 | 46 | - | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Impact of antidilution clauses | - | 31,516 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Exercised | - | - | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Forfeited, expired or cancelled | (11,150 | ) | 46 | (14,362 | ) | 226 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Balance, December 31, 2011 | 17,372 | 60 | 3.5 | 216,575 | 220 | 1.5 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Granted | - | - | 423,782 | 20 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Impact of antidilution clauses | - | - | 518,720 | NA | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Impact of amendment | - | - | 78,215 | NA | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Exercised | - | - | (25,015 | ) | 20 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Forfeited, expired or cancelled | (11,616 | ) | 44 | (411,264 | ) | 88 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Outstanding, December 31, 2012 | 5,756 | $ | 90 | 2.4 | 801,013 | $ | 24 | $ | 3.5 | |||||||||||||||||||||||||||||||||||||||||||||||
Exercisable, December 31, 2012 | 5,756 | $ | 90 | 2.4 | 708,213 | $ | 24 | $ | 3.3 | |||||||||||||||||||||||||||||||||||||||||||||||
During the first quarter of 2012, the holder of a liability warrant to purchase 25,016 shares of common stock exercised the warrant on a cashless basis and, as a result, we issued the holder 7,764 shares of our common stock. We transferred the $0.7 million fair value of the liability warrant as of the date of exercise into equity. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
The following table summarizes information related to outstanding and exercisable warrants: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
As of December 31, 2012 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Outstanding | Exercisable | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Range of Exercise Prices | Type of Warrant | Shares Under Warrants | Weighted Average Exercise Price | Weighted Average Remaining Contractual Life (Years) | Shares Under Warrants | Exercise Price | Remaining Contractual Life (Years) | |||||||||||||||||||||||||||||||||||||||||||||||||
$ | 14.00-$16.00 | Liability | 656,990 | $ | 16 | 4.2 | 564,190 | $ | 16 | 4.1 | ||||||||||||||||||||||||||||||||||||||||||||||
$ | 46 | Equity | 3,029 | 46 | 3.9 | 3,029 | 46 | 3.9 | ||||||||||||||||||||||||||||||||||||||||||||||||
$ | 66 | Liability | 144,023 | 66 | 0.3 | 144,023 | 66 | 0.3 | ||||||||||||||||||||||||||||||||||||||||||||||||
$ | 138 | Equity | 2,727 | 138 | 0.8 | 2,727 | 138 | 0.8 | ||||||||||||||||||||||||||||||||||||||||||||||||
806,769 | $ | 24 | 3.5 | 713,969 | $ | 26 | 3.3 | |||||||||||||||||||||||||||||||||||||||||||||||||
We have certain warrant agreements in effect for outstanding liability warrants that contain antidilution clauses. Under the antidilution clauses, in the event of equity issuances, we may be required to lower the exercise price on liability warrants and increase the number of shares underlying liability warrants. Equity issuances may include issuances of our common stock, certain awards of options to employees, and issuances of warrants and/or other convertible instruments below a certain exercise price. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock and warrant issuance to Buyer (Note 12), convertible note and warrant issuances (Note 10), in 2012 and 2011 triggered the antidilution clauses in certain liability warrants and, as a result, we were required to lower the exercise price and increase the number of shares underlying certain liability warrants. In addition, certain amendments required us to lower the exercise price and increase the numbers of shares underlying certain warrants. |
SEGMENT_INFORMATION_10Q
SEGMENT INFORMATION (10-Q) | 9 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||||
Sep. 30, 2013 | Dec. 31, 2012 | |||||||||||||||||||||||||||||||||
SEGMENT INFORMATION [Abstract] | ' | ' | ||||||||||||||||||||||||||||||||
SEGMENT INFORMATION | ' | ' | ||||||||||||||||||||||||||||||||
NOTE 14. SEGMENT INFORMATION | NOTE 18. SEGMENT INFORMATION | |||||||||||||||||||||||||||||||||
The tables below present segment information for the periods identified and provide reconciliations of segment information to total consolidated information (in thousands). | We have three reportable business segments: (i) Corporate; (ii) USA, which manufactures and distributes SRB in various granulations along with other products derived from rice bran via proprietary and patented enzyme treatment processes; and (iii) Brazil, which extracts crude RBO and DRB from rice bran, which are then further processed into a number of valuable human food and animal nutrition products. The Corporate segment includes selling, general and administrative expenses including public company expenses, litigation, and other expenses not directly attributable to other segments. No Corporate allocations are made to the other segments. General corporate interest is not allocated. | |||||||||||||||||||||||||||||||||
Three Months Ended September 30, 2013 | Corporate | USA | Brazil | Consolidated | The table below presents segment information for the years identified and provides a reconciliation of segment information to total consolidated information (in thousands). | |||||||||||||||||||||||||||||
Revenues | $ | - | $ | 3,065 | $ | 5,660 | $ | 8,725 | ||||||||||||||||||||||||||
Cost of goods sold | - | 2,332 | 5,623 | 7,955 | 2012 | |||||||||||||||||||||||||||||
Gross profit | - | 733 | 37 | 770 | Corporate | USA | Brazil | Consolidated | ||||||||||||||||||||||||||
Depreciation and amortization (in selling, general and administrative) | (6 | ) | (119 | ) | (177 | ) | (302 | ) | ||||||||||||||||||||||||||
Other operating expense | (1,292 | ) | (622 | ) | (1,218 | ) | (3,132 | ) | Revenues | $ | - | $ | 12,633 | $ | 25,090 | $ | 37,723 | |||||||||||||||||
Loss from operations | $ | (1,298 | ) | $ | (8 | ) | $ | (1,358 | ) | $ | (2,664 | ) | Cost of goods sold | - | 8,946 | 22,705 | 31,651 | |||||||||||||||||
Gross profit | - | 3,687 | 2,385 | 6,072 | ||||||||||||||||||||||||||||||
Net loss attributable to RiceBran Technologies shareholders | $ | (1,433 | ) | $ | (8 | ) | $ | (630 | ) | $ | (2,071 | ) | Intersegment fees | 347 | - | (347 | ) | - | ||||||||||||||||
Interest expense | 666 | - | 418 | 1,084 | Depreciation and amortization (in selling, general and administrative) | (197 | ) | (1,006 | ) | (859 | ) | (2,062 | ) | |||||||||||||||||||||
Depreciation (in cost of goods sold) | - | 207 | 468 | 675 | Impairment of property | - | (1,069 | ) | - | (1,069 | ) | |||||||||||||||||||||||
Purchases of property | 6 | 19 | 1,026 | 1,051 | Other operating expenses | (4,768 | ) | (2,364 | ) | (4,496 | ) | (11,628 | ) | |||||||||||||||||||||
Loss from operations | $ | (4,618 | ) | $ | (752 | ) | $ | (3,317 | ) | $ | (8,687 | ) | ||||||||||||||||||||||
Nine Months Ended September 30, 2013 | Corporate | USA | Brazil | Consolidated | ||||||||||||||||||||||||||||||
Revenues | $ | - | $ | 9,099 | $ | 17,723 | $ | 26,822 | Net loss attributable to RiceBran Technologies shareholders | $ | (7,046 | ) | $ | (770 | ) | $ | (1,693 | ) | $ | (9,509 | ) | |||||||||||||
Cost of goods sold | - | 6,895 | 16,913 | 23,808 | Interest expense | (743 | ) | (17 | ) | (1,166 | ) | (1,926 | ) | |||||||||||||||||||||
Gross profit | - | 2,204 | 810 | 3,014 | Depreciation (in cost of goods sold) | - | (899 | ) | (1,651 | ) | (2,550 | ) | ||||||||||||||||||||||
Depreciation and amortization (in selling, general and administrative) | (17 | ) | (358 | ) | (576 | ) | (951 | ) | Purchases of property | 1 | 150 | 6,331 | 6,482 | |||||||||||||||||||||
Other operating expense | (3,627 | ) | (1,743 | ) | (3,404 | ) | (8,774 | ) | Property, net, end of period | 36 | 8,731 | 19,690 | 28,457 | |||||||||||||||||||||
Loss from operations | $ | (3,644 | ) | $ | 103 | $ | (3,170 | ) | $ | (6,711 | ) | Goodwill, end of period | - | - | 4,773 | 4,773 | ||||||||||||||||||
Intangible assets, net, end of period | - | 1,133 | 1,442 | 2,575 | ||||||||||||||||||||||||||||||
Net income (loss) attributable to RiceBran Technologies shareholders | $ | (8,255 | ) | $ | 103 | $ | (1,699 | ) | $ | (9,851 | ) | Total assets, end of period | 3,201 | 11,609 | 32,196 | 47,006 | ||||||||||||||||||
Interest expense | 1,541 | - | 1,338 | 2,879 | ||||||||||||||||||||||||||||||
Depreciation (in cost of goods sold) | - | 665 | 1,359 | 2,024 | ||||||||||||||||||||||||||||||
Purchases of property | 12 | 147 | 2,142 | 2,301 | 2011 | |||||||||||||||||||||||||||||
Corporate | USA | Brazil | Consolidated | |||||||||||||||||||||||||||||||
Three Months Ended September 30, 2012 | Corporate | USA | Brazil | Consolidated | ||||||||||||||||||||||||||||||
Revenues | $ | - | $ | 3,065 | $ | 6,284 | $ | 9,349 | Revenues | $ | - | $ | 10,700 | $ | 26,257 | $ | 36,957 | |||||||||||||||||
Cost of goods sold | - | 2,184 | 5,289 | 7,473 | Cost of goods sold | - | 7,566 | 21,820 | 29,386 | |||||||||||||||||||||||||
Gross profit | - | 881 | 995 | 1,876 | Gross profit | - | 3,134 | 4,437 | 7,571 | |||||||||||||||||||||||||
Depreciation and amortization (in selling, general and administrative) | (175 | ) | (145 | ) | (201 | ) | (521 | ) | Intersegment fees | (439 | ) | - | 439 | - | ||||||||||||||||||||
Intersegment fees | 57 | - | (57 | ) | - | Depreciation and amortization (in selling, general and administrative) | (119 | ) | (1,306 | ) | (1,226 | ) | (2,651 | ) | ||||||||||||||||||||
Impairment of property | - | - | - | - | Impairment of intangibles and property | (240 | ) | (1,352 | ) | - | (1,592 | ) | ||||||||||||||||||||||
Other operating expense | (836 | ) | (662 | ) | (1,211 | ) | (2,709 | ) | Recoveries from former customers | - | 1,800 | - | 1,800 | |||||||||||||||||||||
Loss from operations | $ | (954 | ) | $ | 74 | $ | (474 | ) | $ | (1,354 | ) | Other operating expenses | (5,556 | ) | (3,728 | ) | (5,428 | ) | (14,712 | ) | ||||||||||||||
Loss from operations | $ | (6,354 | ) | $ | (1,452 | ) | $ | (1,778 | ) | $ | (9,584 | ) | ||||||||||||||||||||||
Net income (loss) attributable to RiceBran Technologies shareholders | $ | (220 | ) | $ | 73 | $ | (221 | ) | $ | (368 | ) | |||||||||||||||||||||||
Interest expense | 173 | - | 325 | 498 | Net loss attributable to RiceBran Technologies shareholders | $ | (6,875 | ) | $ | (1,631 | ) | $ | (1,593 | ) | $ | (10,099 | ) | |||||||||||||||||
Depreciation (in cost of goods sold) | - | 179 | 399 | 578 | Interest expense | (619 | ) | (180 | ) | (964 | ) | (1,763 | ) | |||||||||||||||||||||
Purchases of property | - | 6 | 2,025 | 2,031 | Depreciation (in cost of goods sold) | - | (993 | ) | (1,336 | ) | (2,329 | ) | ||||||||||||||||||||||
Purchases of property | - | 98 | 6,769 | 6,867 | ||||||||||||||||||||||||||||||
Nine Months Ended September 30, 2012 | Corporate | USA | Brazil | Consolidated | Property, net, end of period | 263 | 11,899 | 15,833 | 27,995 | |||||||||||||||||||||||||
Revenues | $ | - | $ | 9,629 | $ | 19,177 | $ | 28,806 | Goodwill, end of period | - | - | 5,240 | 5,240 | |||||||||||||||||||||
Cost of goods sold | - | 6,737 | 16,689 | 23,426 | Intangible assets, net, end of period | - | 1,612 | 2,316 | 3,928 | |||||||||||||||||||||||||
Gross profit | - | 2,892 | 2,488 | 5,380 | Total assets, end of period | 4,672 | 14,219 | 33,341 | 52,232 | |||||||||||||||||||||||||
Depreciation and amortization (in selling, general and administrative) | (246 | ) | (784 | ) | (661 | ) | (1,691 | ) | ||||||||||||||||||||||||||
Intersegment fees | 169 | - | (169 | ) | - | All changes in goodwill between December 31, 2012 and December 31, 2011, relate to foreign currency translation. | ||||||||||||||||||||||||||||
Impairment of property | - | (1,069 | ) | - | (1,069 | ) | ||||||||||||||||||||||||||||
Other operating expense | (3,559 | ) | (1,959 | ) | (3,711 | ) | (9,229 | ) | The following table presents revenues data by geographic area (in thousands): | |||||||||||||||||||||||||
Loss from operations | $ | (3,636 | ) | $ | (920 | ) | $ | (2,053 | ) | $ | (6,609 | ) | ||||||||||||||||||||||
2012 | 2011 | |||||||||||||||||||||||||||||||||
Net loss attributable to RiceBran Technologies shareholders | $ | (7,229 | ) | $ | (937 | ) | $ | (1,232 | ) | $ | (9,398 | ) | ||||||||||||||||||||||
Interest expense | 494 | 17 | 792 | 1,303 | United States | $ | 16,177 | $ | 9,178 | |||||||||||||||||||||||||
Depreciation (in cost of goods sold) | - | 714 | 1,218 | 1,932 | Brazil | 18,266 | 19,141 | |||||||||||||||||||||||||||
Purchases of property | - | 72 | 5,752 | 5,824 | Other international | 3,280 | 8,638 | |||||||||||||||||||||||||||
Total revenues | $ | 37,723 | $ | 36,957 | ||||||||||||||||||||||||||||||
The tables below present segment information for selected balance sheet accounts (in thousands). | ||||||||||||||||||||||||||||||||||
Corporate | USA | Brazil | Consolidated | |||||||||||||||||||||||||||||||
As of September 30, 2013 | ||||||||||||||||||||||||||||||||||
Inventories | $ | - | $ | 885 | $ | 675 | $ | 1,560 | ||||||||||||||||||||||||||
Property, net | 59 | 7,442 | 18,319 | 25,820 | ||||||||||||||||||||||||||||||
Goodwill | - | - | 4,331 | 4,331 | ||||||||||||||||||||||||||||||
Intangible assets, net | - | 836 | 854 | 1,690 | ||||||||||||||||||||||||||||||
Total assets | 3,328 | 10,122 | 28,376 | 41,826 | ||||||||||||||||||||||||||||||
As of December 31, 2012 | ||||||||||||||||||||||||||||||||||
Inventories | - | 764 | 1,230 | 1,994 | ||||||||||||||||||||||||||||||
Property, net | 36 | 8,731 | 19,690 | 28,457 | ||||||||||||||||||||||||||||||
Goodwill | - | - | 4,773 | 4,773 | ||||||||||||||||||||||||||||||
Intangible assets, net | - | 1,133 | 1,442 | 2,575 | ||||||||||||||||||||||||||||||
Total assets | 3,201 | 11,609 | 32,196 | 47,006 | ||||||||||||||||||||||||||||||
All changes in goodwill between December 31, 2012 and September 30, 2013, relate to foreign currency translation. Corporate segment total assets include cash, restricted cash, property and other assets. | ||||||||||||||||||||||||||||||||||
The following table presents revenue by geographic area for the three and nine months ended September 30, 2013 and 2012 (in thousands). | ||||||||||||||||||||||||||||||||||
Three Months | Nine Months | |||||||||||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||||||||||||
United States | $ | 3,052 | $ | 2,685 | $ | 9,714 | $ | 8,501 | ||||||||||||||||||||||||||
Brazil | 4,048 | 4,626 | 13,845 | 14,397 | ||||||||||||||||||||||||||||||
Other international | 1,625 | 2,038 | 3,263 | 5,908 | ||||||||||||||||||||||||||||||
Total revenues | $ | 8,725 | $ | 9,349 | $ | 26,822 | $ | 28,806 |
FAIR_VALUE_MEASUREMENT_10Q
FAIR VALUE MEASUREMENT (10-Q) | 9 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||
Sep. 30, 2013 | Dec. 31, 2012 | |||||||||||||||||||||||||||||||||||||||||||||||||
FAIR VALUE MEASUREMENT [Abstract] | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||||||
FAIR VALUE MEASUREMENT | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||||||
NOTE 15. FAIR VALUE MEASUREMENT | NOTE 19. FAIR VALUE MEASUREMENT | |||||||||||||||||||||||||||||||||||||||||||||||||
The fair value of cash and cash equivalents, accounts and other receivables and accounts payable approximates their carrying value due to their shorter maturities. As of September 30, 2013, the fair value of our USA segment debt is approximately $2.6 million higher than the carrying value of that debt, based on current market rates for similar debt with similar maturities. The fair value of our Brazil segment debt approximates the carrying value of that debt based on the current market rates for similar debt with similar maturities. | The fair value of cash and cash equivalents, accounts and other receivables and accounts payable approximates their carrying value due to their shorter maturities. As of December 31, 2012, the fair value of our USA segment debt is approximately $2.5 million higher than the carrying value of that debt, based on current market rates for similar debt with similar maturities. The fair value of our Brazil segment debt approximates the carrying value of that debt based on the current market rates for similar debt with similar maturities. | |||||||||||||||||||||||||||||||||||||||||||||||||
Fair value is based on the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Certain assets and liabilities are presented in the financial statements at fair value. Assets and liabilities measured at fair value on a recurring basis include derivative warrant and conversion liabilities. Assets and liabilities measured at fair value on a non-recurring basis may include property. | Fair value is based on the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Certain assets and liabilities are presented in the financial statements at fair value. Assets and liabilities measured at fair value on a recurring basis include derivative warrant and conversion liabilities. Assets and liabilities measured at fair value on a non-recurring basis may include property. | |||||||||||||||||||||||||||||||||||||||||||||||||
We assess the inputs used to measure fair value using a three-tier hierarchy based on the extent to which inputs used in measuring fair value are observable in the market: | We assess the inputs used to measure fair value using a three-tier hierarchy based on the extent to which inputs used in measuring fair value are observable in the market: | |||||||||||||||||||||||||||||||||||||||||||||||||
● | Level 1 – inputs include quoted prices for identical instruments and are the most observable. | ● | Level 1 – inputs include quoted prices for identical instruments and are the most observable. | |||||||||||||||||||||||||||||||||||||||||||||||
● | Level 2 – inputs include quoted prices for similar assets and observable inputs such as interest rates, currency exchange rates and yield curves. | ● | Level 2 – inputs include quoted prices for similar assets and observable inputs such as interest rates, currency exchange rates and yield curves. | |||||||||||||||||||||||||||||||||||||||||||||||
● | Level 3 – inputs are not observable in the market and include management’s judgments about the assumptions market participants would use in pricing the asset or liability. | ● | Level 3 – inputs are not observable in the market and include management’s judgments about the assumptions market participants would use in pricing the asset or liability. | |||||||||||||||||||||||||||||||||||||||||||||||
For instruments measured using Level 3 inputs, a reconciliation of the beginning and ending balances is disclosed. | For instruments measured using Level 3 inputs, a reconciliation of the beginning and ending balances is disclosed. | |||||||||||||||||||||||||||||||||||||||||||||||||
The following tables summarize the fair values by input hierarchy of items measured at fair value on a recurring basis on our consolidated balance sheets (in thousands): | The following tables summarize the fair values by input hierarchy of items measured at fair value on a recurring basis on our consolidated balance sheets (in thousands): | |||||||||||||||||||||||||||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | Level 1 | Level 2 | Level 3 | Total | |||||||||||||||||||||||||||||||||||||||||||
30-Sep-13 | 31-Dec-12 | |||||||||||||||||||||||||||||||||||||||||||||||||
Derivative warrant liabilities | -1 | $ | - | $ | - | $ | (6,508 | ) | $ | (6,508 | ) | Derivative warrant liabilities | -1 | $ | - | $ | - | $ | (4,520 | ) | $ | (4,520 | ) | |||||||||||||||||||||||||||
Derivative conversion liabilities | -2 | - | - | (3,193 | ) | (3,193 | ) | Derivative conversion liabilities | -2 | - | - | (2,199 | ) | (2,199 | ) | |||||||||||||||||||||||||||||||||||
Total liabilities at fair value | $ | - | $ | - | $ | (9,701 | ) | $ | (9,701 | ) | Total liabilities at fair value | $ | - | $ | - | $ | (6,719 | ) | $ | (6,719 | ) | |||||||||||||||||||||||||||||
31-Dec-12 | 31-Dec-11 | |||||||||||||||||||||||||||||||||||||||||||||||||
Derivative warrant liabilities | -1 | $ | - | $ | - | $ | (4,520 | ) | $ | (4,520 | ) | Derivative warrant liabilities | -1 | $ | - | $ | - | $ | (1,296 | ) | $ | (1,296 | ) | |||||||||||||||||||||||||||
Derivative conversion liabilities | -2 | - | - | (2,199 | ) | (2,199 | ) | Total liabilities at fair value | $ | - | $ | - | $ | (1,296 | ) | $ | (1,296 | ) | ||||||||||||||||||||||||||||||||
Total liabilities at fair value | $ | - | $ | - | $ | (6,719 | ) | $ | (6,719 | ) | ||||||||||||||||||||||||||||||||||||||||
-1 | These warrants are valued using the lattice model each reporting period and the resultant change in fair value is recorded in the statements of operations. The lattice model requires us to assess the probability of future issuance of equity instruments at a price lower than the current exercise price of the warrants. The risk-free interest rate is determined by reference to the treasury yield curve rate of instruments with the same term as the warrant. Additional assumptions that were used to calculate fair value follow. | |||||||||||||||||||||||||||||||||||||||||||||||||
-1 | These warrants are valued using the lattice model each reporting period and the resultant change in fair value is recorded in the statements of operations. The lattice model requires us to assess the probability of future issuance of equity instruments at a price lower than the current exercise price of the warrants. The risk-free interest rate is determined by reference to the treasury yield curve rate of instruments with the same term as the warrant. Additional assumptions that were used to calculate fair value follow. | |||||||||||||||||||||||||||||||||||||||||||||||||
31-Dec-12 | 31-Dec-11 | |||||||||||||||||||||||||||||||||||||||||||||||||
30-Sep-13 | 31-Dec-12 | Risk-free interest rate | 0.1% - 0.7% | 0.1% - 0.8% | ||||||||||||||||||||||||||||||||||||||||||||||
Risk-free interest rate | 0.0% - 1.4% | 0.1% - 0.7% | (0.6% weighted average) | (0.2% weighted average) | ||||||||||||||||||||||||||||||||||||||||||||||
(1.0% weighted average) | (0.6% weighted average) | Expected volatility | 93% | 84% | ||||||||||||||||||||||||||||||||||||||||||||||
Expected volatility | 90% | 93% | ||||||||||||||||||||||||||||||||||||||||||||||||
-2 | These conversion liabilities are valued using a lattice model each reporting period and the resultant change in fair value is recorded in the statements of operations. The lattice model requires us to assess the probability of future issuance of equity instruments at a price lower than the current conversion price of the debt. The risk-free interest rate is determined by reference to the treasury yield curve rate of instruments with the same term as the underlying debt. Additional assumptions that were used to calculate fair value follow. | |||||||||||||||||||||||||||||||||||||||||||||||||
-2 | These conversion liabilities are valued using a lattice model each reporting period and the resultant change in fair value is recorded in the statements of operations. The lattice model requires us to assess the probability of future issuance of equity instruments at a price lower than the current conversion price of the debt. The risk-free interest rate is determined by reference to the treasury yield curve rate of instruments with the same term as the underlying debt. Additional assumptions that were used to calculate fair value follow. | |||||||||||||||||||||||||||||||||||||||||||||||||
31-Dec-12 | ||||||||||||||||||||||||||||||||||||||||||||||||||
30-Sep-13 | 31-Dec-12 | Risk-free interest rate | 0.2-0.3% | |||||||||||||||||||||||||||||||||||||||||||||||
Risk-free interest rate | 0.0-0.6% | 0.2-0.3% | (0.3% weighted average) | |||||||||||||||||||||||||||||||||||||||||||||||
(0.4% weighted average) | (0.3% weighted average) | Expected volatility | 93% | |||||||||||||||||||||||||||||||||||||||||||||||
Expected volatility | 90% | 93% | ||||||||||||||||||||||||||||||||||||||||||||||||
The following tables summarize the changes in level 3 items measured at fair value on a recurring basis (in thousands): | ||||||||||||||||||||||||||||||||||||||||||||||||||
The following tables summarize the changes in level 3 items measured at fair value on a recurring basis (in thousands): | ||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value as of Beginning of Period | Total Realized and Unrealized Gains (Losses) | Issuance of New Instruments | Net Transfers (Into) Out of Level 3 | Fair Value, at End of Period | Change in Unrealized Gains (Losses) on Instruments Still Held | |||||||||||||||||||||||||||||||||||||||||||||
Fair Value as of Beginning of Period | Total Realized and Unrealized Gains (Losses) | Issuance of New Instruments | Net Transfers (Into) Out of Level 3 | Fair Value, at End of Period | Change in Unrealized Gains (Losses) on Instruments Still Held | 2012 | -1 | |||||||||||||||||||||||||||||||||||||||||||
-1 | Derivative warrant liability | $ | (1,296 | ) | $ | 3,048 | $ | (6,983 | ) | $ | 711 | (2) | $ | (4,520 | ) | $ | 3,320 | |||||||||||||||||||||||||||||||||
Nine Months Ended September 30, 2013 | Derivative conversion liability | - | 2,372 | (4,466 | ) | (105 | )(3) | (2,199 | ) | 2,372 | ||||||||||||||||||||||||||||||||||||||||
Derivative warrant liability | $ | (4,520 | ) | $ | (1,413 | ) | $ | (575 | ) | $ | - | $ | (6,508 | ) | $ | (1,413 | ) | Total Level 3 fair value | $ | (1,296 | ) | $ | 5,420 | $ | (11,449 | ) | $ | 606 | $ | (6,719 | ) | $ | 5,692 | |||||||||||||||||
Derivative conversion liability | (2,199 | ) | (505 | ) | (588 | ) | 99 | -2 | (3,193 | ) | (896 | ) | ||||||||||||||||||||||||||||||||||||||
Total Level 3 fair value | $ | (6,719 | ) | $ | (1,918 | ) | $ | (1,163 | ) | $ | 99 | $ | (9,701 | ) | $ | (2,309 | ) | 2011 | ||||||||||||||||||||||||||||||||
Derivative warrant liability | $ | (1,628 | ) | $ | 332 | $ | - | $ | - | $ | (1,296 | ) | $ | 332 | ||||||||||||||||||||||||||||||||||||
Nine Months Ended September 30, 2012 | Total Level 3 fair value | $ | (1,628 | ) | $ | 332 | $ | - | $ | - | $ | (1,296 | ) | $ | 332 | |||||||||||||||||||||||||||||||||||
Derivative warrant liability | $ | (1,296 | ) | $ | 1,142 | $ | (6,983 | ) | $ | 711 | -2 | $ | (6,426 | ) | $ | 1,414 | ||||||||||||||||||||||||||||||||||
Derivative conversion liability | - | 2,866 | (4,466 | ) | (105 | ) | (1,705 | ) | 2,866 | -1 | Included in change in fair value of derivative warrant and conversion liabilities in our consolidated statements of operations. | |||||||||||||||||||||||||||||||||||||||
Total Level 3 fair value | $ | (1,296 | ) | $ | 4,008 | $ | (11,449 | ) | $ | 606 | $ | (8,131 | ) | $ | 4,280 | -2 | Represents transfers to equity as a result of a holder exercising a warrant. | |||||||||||||||||||||||||||||||||
-3 | Represents an adjustment to loss on extinguishment as a result of issuing the replacement senior convertible debenture. | |||||||||||||||||||||||||||||||||||||||||||||||||
-1 | Included in change in fair value of derivative warrant and conversion liabilities in our consolidated statements of operations. | |||||||||||||||||||||||||||||||||||||||||||||||||
-2 | Represents transfers to equity as a result of the exercise of a warrant in 2012 and conversion of debt in 2013. | The following tables summarize the fair values by input hierarchy of items measured at fair value in our balance sheets on a nonrecurring basis (in thousands): | ||||||||||||||||||||||||||||||||||||||||||||||||
The following tables summarize the fair values by input hierarchy of items measured at fair value in our balance sheets on a nonrecurring basis (in thousands). | 2012 | |||||||||||||||||||||||||||||||||||||||||||||||||
As of December 31, 2012 | Impairment | |||||||||||||||||||||||||||||||||||||||||||||||||
2013 | Level 1 | Level 2 | Level 3 | Total | Losses | |||||||||||||||||||||||||||||||||||||||||||||
As of September 30, 2013 | Impairment | (1 | ) | |||||||||||||||||||||||||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | Losses | Property, net | -1 | $ | - | $ | - | $ | 1,058 | $ | 1,058 | $ | 1,069 | ||||||||||||||||||||||||||||||||||
(1 | ) | Property, net | $ | - | $ | - | $ | 1,058 | $ | 1,058 | $ | 1,069 | ||||||||||||||||||||||||||||||||||||||
Property, net | -1 | $ | - | $ | - | $ | 394 | $ | 394 | $ | 300 | |||||||||||||||||||||||||||||||||||||||
Property, net | $ | - | $ | - | $ | 394 | $ | 394 | $ | 300 | -1 | During 2012, machinery and equipment not currently in use was evaluated for impairment and as a result was written down to estimated fair value. Fair value is an estimate of net realizable value comprised of an estimate of proceeds from sale, based on an internal evaluation of market conditions, less estimated costs to sell. The estimate of net realizable value is subject to change. | ||||||||||||||||||||||||||||||||||||||
2012 | ||||||||||||||||||||||||||||||||||||||||||||||||||
As of December 31, 2012 | Impairment | |||||||||||||||||||||||||||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | Losses | ||||||||||||||||||||||||||||||||||||||||||||||
(1 | ) | |||||||||||||||||||||||||||||||||||||||||||||||||
Property, net | -1 | $ | - | $ | - | $ | 1,058 | $ | 1,058 | $ | 1,069 | |||||||||||||||||||||||||||||||||||||||
Property, net | $ | - | $ | - | $ | 1,058 | $ | 1,058 | $ | 1,069 | ||||||||||||||||||||||||||||||||||||||||
-1 | Machinery and equipment not currently in use was evaluated for impairment and as a result was written down to estimated fair value in the first quarter of 2013 and the second quarter of 2012. Fair value is an estimate of net realizable value comprised of an estimate of proceeds from sale, based on an internal evaluation of market conditions, less estimated costs to sell. The estimate of net realizable value is subject to change. |
RELATED_PARTY_TRANSACTIONS_10Q
RELATED PARTY TRANSACTIONS (10-Q) | 9 Months Ended | 12 Months Ended | ||||||||
Sep. 30, 2013 | Dec. 31, 2012 | |||||||||
RELATED PARTY TRANSACTIONS [Abstract] | ' | ' | ||||||||
RELATED PARTY TRANSACTIONS | ' | ' | ||||||||
NOTE 16. RELATED PARTY TRANSACTIONS | NOTE 17. RELATED PARTY TRANSACTIONS | |||||||||
Transactions with Director Baruch Halpern | Transactions with Director Baruch Halpern | |||||||||
In January 2012, Baruch Halpern became a member of our board of directors. Mr. Halpern is the principal in Halpern Capital, Inc. (HC). Under a February 2011 financial advisor agreement, we were obligated to pay HC success fees ranging from 2.5% to 5.0% of the consideration received from certain equity, convertible securities or debt transactions. We were also required to issue warrants to purchase shares of common stock that equaled from 2.5% to 5.0% of the consideration received in those transactions, divided by either the market price of the common stock or the conversion price of the securities issued in the transaction. This agreement terminated April 1, 2012, however we remained obligated to pay HC success fees and issue HC warrants on any transaction with an investor introduced by HC though March 31, 2013. | In January 2012, Baruch Halpern became a member of our board of directors. Mr. Halpern is the principal in Halpern Capital, Inc. (HC). Under a February 2011 financial advisor agreement we are obligated to pay HC success fees ranging from 2.5% to 5.0% of the consideration received from certain equity, convertible securities or debt transactions. We must also issue warrants to purchase shares of common stock that equal from 2.5% to 5.0% of the consideration received in those transactions, divided by either the market price of the common stock or the conversion price of the securities issued in the transaction. This agreement terminated April 1, 2012, however, we remain obligated to pay HC success fees and issue HC warrants on any transaction with an investor introduced by HC occurring though March 31, 2013. | |||||||||
During the three months ended March 31, 2012, in connection with the January 2012 issuances of the subordinated convertible notes and senior convertible note, and related warrants, HC received $0.1 million in cash fees under the financial advisor agreement. Mr. Halpern also received warrants exercisable for 3,563 shares of our common stock at $20.00 per share and warrants exercisable for 750 shares of our common stock at $30.00 per share, which were owed to HC under the financial advisor agreement. During the three months ended March 31, 2013, HC received no success fees or transaction warrants. | In connection with the issuance of convertible debt in 2012 we issued the transactional warrants listed below under the terms of our financial advisor agreement with HC. | |||||||||
In January 2012, we agreed to extend the expiration dates on certain liability warrants, held by Mr. Halpern and his family, for the purchase of 25,833 shares of common stock at an exercise price of $20.00 per share from July 2014 to January 2017. The resulting $0.1 million change in the fair value of the warrants increased other income (expense). | Date of Warrants | Number of Shares Under Warrants | Exercise Price of Warrant | Expiration Date of Warrant | ||||||
(1) | ||||||||||
Mr. Halpern held as of September 30, 2013 and December 31, 2012, $2.6 million of subordinated convertible notes. During the three and nine months ended September 30, 2013, we accrued $0.1 million and $0.2 million of interest on the convertible notes beneficially owned by Mr. Halpern and paid $0.1 million and $0.1 million of interest. During the three and nine months ended September 30, 2012, we accrued $0.1 million and $0.2 million of interest on the convertible notes beneficially owned by Mr. Halpern and paid $0.1 million and $0.2 million of interest. During the three and nine months ended September 30, 2012, we received $0.1 million of cash in connection with issuances of convertible debt and related warrants to entities beneficially owned by Mr. Halpern. We made no convertible note principal payments in any period presented. | Jan-12 | 1,250 | Exercisable immediately at $30.00 per share (2) | Jan-17 | ||||||
Jan-12 | 5,563 | Exercisable immediately at $20.00 per share (2) | Jan-17 | |||||||
In April 2013, we issued a promissory note in the principal amount of $0.1 million to Mr. Halpern. The note bore interest at 10% and was repaid in full in May 2013. | May-12 | 63 | Exercisable immediately at $20.00 per share (2) | May-17 | ||||||
Jul-12 | 711 | Exercisable immediately at $14.00 per share | Jul-17 | |||||||
During the three months ended March 31, 2012, we paid HC $0.4 million relevant to HC’s class 6 general unsecured creditor claim as part of our payment obligations under the Amended Plan of Reorganization. The claim represented payment for services rendered prior to the November 2009 bankruptcy petition filing. | Aug-12 | 268 | Exercisable immediately at $14.00 per share | Aug-17 | ||||||
Other Transactions with Directors and Officer | -1 | All of the transactional warrants contain full ratchet antidilution provisions and require the holders to provide us with at least 61 days notice prior to conversion or exercise to the extent the holder would have a beneficial ownership interest in our common stock in excess of 4.99% of our outstanding common stock immediately after conversion or exercise. | ||||||||
W. John Short, CEO and director, invested $50 thousand in the January 2012 subordinated convertible notes and related warrants and $25 thousand in the April 2013 subordinated convertible notes and related warrants. During the three and nine months ended September 30, 2013, we paid less than $1 thousand of interest on the convertible notes and during the nine months ended September 30, 2012, we paid $2 thousand of interest. In June 2013, Mr. Short made a PIK Election for interest accruing under the notes from February 2013 through June 2014. In connection with the election, we issued to Mr. Short 82 shares of common stock and a PIK warrant, currently with 204 underlying shares of common stock, and we increased the shares underlying Mr. Short’s convertible notes by 204 shares as payment for interest accruing under the convertible notes from February 2013 through September 2013. | -2 | As a result of the July 31, 2012, issuances of convertible debt and related warrants, the exercise prices on these transactional warrants were reduced under the full ratchet antidilution provisions included in the transactional warrants, to $14.00 per share and the number of underlying shares increased to equal the number of original underlying shares times the initial exercise price divided by $14.00 per share. | ||||||||
Other transactions with Mr. Halpern, HC and Halpern Entities are summarized below (in thousands): | ||||||||||
2012 | 2011 | |||||||||
Success fees earned by HC under financial advisor agreement payable in cash | $ | 164 | $ | 26 | ||||||
Proceeds received from Mr. Halpern and Halpern Entities upon issuance of convertible debt and related warrants | 213 | 1,739 | ||||||||
Interest earned by Halpern Entities on convertible debt | 302 | 225 | ||||||||
Payments to HC relevant to HC's class 6 general unsecured creditor claim | 256 | 754 | ||||||||
As of December 31, 2012 and 2011, there was less than $0.1 million in accounts payable or accrued expenses due to Mr. Halpern, HC or the Halpern Entities. | ||||||||||
In January 2012, we agreed to extend the expiration dates on certain liability warrants held by Mr. Halpern and others, for the purchase of 25,833 shares of common stock at an exercise price of $20.00 per share from July 2014 to January 2017. The resulting $0.1 million change in the fair value of the warrants was expensed in other income (expense). | ||||||||||
As a result of the amendment discussed in Note 10, the terms of Mr. Halpern’s January 2012 subordinated convertible note were modified such that the maturity date was extended from January to July 2015, the exercise price on the related warrant was reduced from $24.00 per share to $16.00 per share and the number of underlying shares on those warrants was increased from 125,000 to 178,572. Had the warrant not been amended, the exercise price would have reduced to $14.00 per share under the antidilution provisions in the warrant. | ||||||||||
Transactions with Other Directors | ||||||||||
In April 2012, Henk Hoogenkamp became a member of our board of directors. In 2011, Mr. Hoogenkamp performed consulting services for us under an independent contractor agreement. Under the agreement, as amended, we agreed to pay Mr. Hoogenkamp a total of $0.1 million as compensation for services in 2011. In addition, we issued to Mr. Hoogenkamp 750 shares of our common stock which fully vested on December 31, 2011. In June 2011, we entered into an amendment to the independent contractor agreement, which reduced the scope of the consulting services and reduced his compensation during the last six months of 2011. Mr. Hoogenkamp agreed to be paid less than $0.1 million for his consulting services in 2011 and we agreed to extend the exercise period for certain stock options issued to Mr. Hoogenkamp for the purchase of up to 2,200 shares of our common stock to June 30, 2015. The change in fair value of the warrants was less than $0.1 million. Effective January 1, 2012, under a new one-year independent contractor consulting agreement, we issued Mr. Hoogenkamp 5,000 shares of our common stock, which were to vest in twelve equal monthly installments during 2012. In April 2012, in connection with Mr. Hoogenkamp’s appointment to the Board of Directors, we terminated the independent contractor agreement and agreed to immediately vest all of the 5,000 shares of common stock previously granted. During 2012 and 2011, we paid and expensed less than $0.1 million for cash fees owed under the independent contractor agreements. We expensed $0.1 million in both 2012 and 2011 for common stock issued under the independent contractor agreements. | ||||||||||
W. John Short (CEO and director), Zanesville Partners Fund, LLC, which is beneficially owned by James C. Lintzenich (former director), and the Edward L. McMillan Revocable Trust, which is beneficially owned by Edward L. McMillan (former director), collectively invested $0.1 million in the January 2012 subordinated convertible notes and related warrants issuance. During 2012, we paid and expensed less than $0.1 million for interest on these three subordinated convertible notes. |
HN_ACQUISITION_10Q
H&N ACQUISITION (10-Q) | 9 Months Ended |
Sep. 30, 2013 | |
H&N ACQUISITION [Abstract] | ' |
H&N ACQUISITION | ' |
NOTE 17. H&N ACQUISITION | |
In September 2013, we entered into an agreement to purchase all of the outstanding capital stock of H&N Distribution, Inc. (H&N), H&N blends and manufactures functional foods and also distributes food ingredients and products. We agreed to pay $2.0 million in cash and issue between 187,500 and 237,500 shares of our common stock. The number of shares issued will depend on H&N’s adjusted earnings before interest, taxes, depreciation and amortization, as defined in the agreement. Closing of the transaction must occur no later than March 31, 2014, and is subject to certain conditions including, but not limited to, the results of our due diligence and a successful equity fund raising of at least $7.5 million. We also entered into an employment agreement with the chief executive officer of H&N which will be effective upon closing of the acquisition and terminate December 31, 2018. Under the employment agreement the founder will receive an annual base salary of $0.2 million and be eligible for a bonus of up to $0.3 million per year. |
SUMMARY_OF_SIGNIFICANT_ACCOUNT1
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies) (10-K) | 9 Months Ended | 12 Months Ended |
Sep. 30, 2013 | Dec. 31, 2012 | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract] | ' | ' |
Principles of Consolidation | ' | ' |
Principles of Consolidation – The consolidated financial statements include the accounts of RiceBran Technologies (the Parent Company) and all subsidiaries in which we have a controlling interest. All significant inter-company accounts and transactions are eliminated in consolidation. Noncontrolling interests in our subsidiaries are recorded net of tax as net earnings (loss) attributable to noncontrolling interests. | ||
Foreign Currencies | ' | ' |
Foreign Currencies - The consolidated financial statements are presented in our reporting currency, U.S. Dollars. The functional currency for Irgovel is the Brazilian Real. Accordingly, the balance sheet of Irgovel is translated into U.S. Dollars using the exchange rate in effect at the balance sheet date. Revenues and expenses are translated using the average exchange rates in effect during the period. Translation differences are recorded in accumulated other comprehensive income (loss) as foreign currency translation. Gains or losses on transactions denominated in a currency other than the subsidiaries’ functional currency which arise as a result of changes in foreign exchange rates are recorded as foreign exchange gain or loss in the statements of operations. | ||
Cash and Cash Equivalents | ' | ' |
Cash and Cash Equivalents – We consider all highly liquid investments purchased with an original maturity of three months or less at the time of purchase to be cash equivalents. As of December 31, 2012, we maintain our cash, including restricted cash, and cash equivalents, with major banks. We maintain cash in bank accounts, which at times may exceed federally insured limits. We have not experienced any losses on such accounts. | ||
Accounts Receivable and Allowance for Doubtful Accounts | ' | ' |
Accounts Receivable and Allowance for Doubtful Accounts – Accounts receivable represent amounts receivable on trade accounts. The allowance for doubtful accounts is based on our assessment of the collectability of customer accounts and the aging of accounts receivable. We analyze the aging of customer accounts, customer concentrations, customer credit-worthiness, current economic trends and changes in our customer payment patterns when evaluating the adequacy of the allowance for doubtful accounts. From period to period, differences in judgments or estimates utilized may result in material differences in the amount and timing of our provision for doubtful accounts. We continue to evaluate our credit policy to ensure that the customers are worthy of terms and support our business plans. | ||
Inventories | ' | ' |
Inventories - Inventories are stated at the lower of cost or market, with cost determined by the first-in, first-out method. In the USA segment, we employ a full absorption procedure using standard cost techniques. The standards are customarily reviewed and adjusted annually so that they are materially consistent with actual purchase and production costs. In the Brazil segment we use actual average purchase and production costs. Provisions for potentially obsolete or slow moving inventory are made based upon our analysis of inventory levels, historical obsolescence and future sales forecasts. | ||
Long-Lived Assets, Intangible Assets and Goodwill | ' | ' |
Long-Lived Assets, Intangible Assets and Goodwill – Long-lived assets, consisting primarily of property, intangible assets, and goodwill, comprise a significant portion of our total assets. Property is stated at cost less accumulated depreciation. Depreciation is computed on the straight-line basis over the estimated useful lives. Expenditures for maintenance and repairs are charged to operations as incurred while renewals and betterments are capitalized. Gains or losses on the sale of property and equipment are reflected in the statements of operations. Intangible assets are stated at cost less accumulated amortization. | ||
The carrying values of property and intangible assets with finite lives are evaluated periodically in relation to the expected future cash flows of the underlying assets and monitored for other potential triggering events that might indicate impairment. Adjustments are made in the event that estimated undiscounted net cash flows estimated to be derived from the asset are less than the carrying value of the related asset. The cash flow projections are based on historical experience, management’s view of growth rates within the industry, and the anticipated future economic environment. | ||
We are required to test goodwill for impairment at least annually (by policy December 31) and more often if an event occurs or circumstances change that more likely than not reduce the fair value of a reporting unit below its carrying value. In assessing the recoverability of goodwill, we make estimates and assumptions about sales, operating margin, terminal growth rates and discount rates based on our budgets, business plans, economic projections, anticipated future cash flows and marketplace data. There are inherent uncertainties related to these factors and management’s judgment in applying these factors. The fair value of a reporting unit has been determined using an income approach based on the present value of the future cash flows of each reporting unit. The goodwill impairment test compares the fair value of individual reporting units to the carrying value of these reporting units. If fair value is less than carrying value then goodwill impairment may be present. The market value of our common stock is an indicator of fair value and a consideration in determining the fair value of our reporting units. | ||
Revenue Recognition | ' | ' |
Revenue Recognition – We recognize revenue for product sales when title and risk of loss pass to our customers, generally upon shipment for USA segment customers and Brazil segment international customers and upon customer receipt for Brazil segment domestic customers. Each transaction is evaluated to determine if all of the following four criteria are met: (i) persuasive evidence of an arrangement exists; (ii) delivery has occurred; (iii) the selling price is fixed and determinable; and (iv) collectability is reasonably assured. If any of the above criteria cannot be satisfied then such a transaction is not recorded as revenue, or is recorded as deferred revenue and recognized only when the sales cycle is complete and payment is either received or becomes reasonably assured. Changes in judgments and estimates regarding the application of the above mentioned four criteria might result in a change in the timing or amount of revenue recognized by such transactions. | ||
We make provisions for estimated returns discounts, and price adjustments when they are reasonably estimable. Revenues on the statements of operations are net of provisions for estimated returns, routine sales discounts, volume allowances and adjustments. Revenues on the statements of operations are also net of taxes collected from customers and remitted to governmental authorities. | ||
Shipping and Handling Fees and Costs | ' | ' |
Shipping and Handling Fees and Costs – Amounts billed to a customer in a sale transaction related to shipping costs are reported as revenues and the related costs incurred for shipping are included in cost of goods sold. | ||
Research and Development | ' | ' |
Research and Development – Research and development expenses include internal and external costs. Internal costs include salaries and employment related expenses. External expenses consist of costs associated with product development. All such costs are charged to expense in the period they are incurred. | ||
Derivative Conversion Liabilities | ' | ' |
Derivative Conversion Liabilities – We have certain convertible debt outstanding that contain antidilution clauses. Under these clauses, we may be required to lower the conversion price on the convertible debt based on future issuances of our common stock, awards of options to employees, additional issuance of warrants and/or other convertible instruments below certain conversion prices. We account for the conversion liabilities associated with these antidilution clauses as liability instruments, separate from the host debt. The conversion liabilities are classified as debt on our consolidated balance sheets. These conversion liabilities are valued using the lattice model each reporting period and the resultant change in fair value is recorded in the statements of operations in other income (expense). | ||
Derivative Warrant Liabilities | ' | ' |
Derivative Warrant Liabilities – We have certain warrant agreements in effect that contain antidilution clauses. Under these clauses, we may be required to lower the exercise price on these warrants and issue additional warrants based on future issuances of our common stock, awards of options to employees, additional issuance of warrants and/or other convertible instruments below certain exercise prices. We account for the warrants with these antidilution clauses as liability instruments. These warrants are valued using the lattice model each reporting period and the resultant change in fair value is recorded in the statements of operations in other income (expense). | ||
Share-Based Compensation | ' | ' |
Share-Based Compensation – Share-based compensation expense for employees is calculated at the grant date using the Black-Scholes-Merton valuation model based on awards ultimately expected to vest, reduced for estimated forfeitures, and expensed on a straight-line basis over the requisite service period of the grant. Forfeitures are estimated at the time of grant based on our historical forfeiture experience and are revised in subsequent periods if actual forfeitures differ from those estimates. The Black-Scholes-Merton option pricing model requires us to estimate key assumptions such as expected life, volatility, risk-free interest rates and dividend yield to determine the fair value of share-based awards, based on both historical information and management’s judgment regarding market factors and trends. We treat options granted to employees of foreign subsidiaries as equity options. We will use alternative valuation models if grants have characteristics that cannot be reasonably estimated using the Black-Scholes-Merton model. | ||
We account for share-based compensation awards granted to non-employees and consultants by determining the fair value of the awards granted at either the fair value of the consideration received or the fair value of the equity instruments issued, whichever is more reliably measured. Generally we value options granted to non-employees and consultants using the Black-Scholes-Merton valuation model. 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 (i) the date at which a commitment for performance by the counterparty to earn the equity instruments is reached or (ii) the date at which the counterparty's performance is complete. The expense of stock awards issued to consultants or other third parties are recognized over the term of service. In the event services are terminated early or we require no specific future performance, the entire amount is expensed. The value is re-measured each reporting period over the requisite service period. Most non-employee awards have graded vesting schedules resulting in higher compensation expense recorded early in the service period. | ||
Income Taxes | ' | ' |
Income Taxes – We account for income taxes by recording a deferred tax asset or liability for the recognition of future deductible or taxable amounts and operating loss and tax credit carryforwards. Deferred tax expense or benefit is recognized as a result of timing differences between the recognition of assets and liabilities for financial reporting and tax purposes during the year. | ||
Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. Deferred tax assets are recognized for deductible temporary differences and operating loss and tax credit carryforwards. A valuation allowance is established, when necessary, to reduce that deferred tax asset if it is more likely than not that the related tax benefits will not be realized. | ||
Use of Estimates | ' | ' |
Use of Estimates – The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Because of the uncertainty inherent in such estimates, actual results could differ from those estimates. | ||
Reclassifications | ' | ' |
Reclassifications – Certain reclassifications have been made to prior period amounts to conform to classifications adopted in the current year financial statement presentation. | ||
Recent Accounting Pronouncements | ' | ' |
Recent Accounting Pronouncements | Recent Accounting Pronouncements | |
There are no recent accounting pronouncements that are applicable to us and adoption of which could potentially have a material impact on our consolidated financial statements. | Accounting pronouncements that are applicable to us and could potentially have a material impact on our financial statements are discussed below. | |
In May 2011, the Financial Accounting Standards Board (FASB) amended guidance on fair value measurement and expanded the required disclosures related to fair value. The amendments, among other things, clarify that the highest and best use concept applies only to nonfinancial assets and addresses the appropriate premiums and discounts to consider in fair value measurement. We adopted the guidance prospectively, effective January 1, 2012. Adoption did not have a significant impact on our financial position or results of operations. | ||
In September 2011, the FASB amended guidance on goodwill impairment testing. The amendments permit us to first assess qualitative factors to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount as a basis for determining whether it is necessary to perform the two-step goodwill impairment test. Previous guidance required us to test goodwill for impairment, on at least an annual basis, by comparing the fair value of a reporting unit with its carrying amount, including goodwill (step one). If the fair value of a reporting unit is less than its carrying amount, then the second step of the test must be performed to measure the amount of the impairment loss, if any. Under the amendments, we are not required to calculate the fair value of a reporting unit unless we determine that it is more likely than not that its fair value is less than its carrying amount. We adopted the amendments effective for annual and interim goodwill impairment tests (if required) performed after January 1, 2012. Adoption had no impact on our financial position or results of operations. |
BASIS_OF_PRESENTATION_Policies
BASIS OF PRESENTATION (Policies) (10-Q) | 9 Months Ended | 12 Months Ended |
Sep. 30, 2013 | Dec. 31, 2012 | |
BASIS OF PRESENTATION [Abstract] | ' | ' |
Recent Accounting Pronouncements | ' | ' |
Recent Accounting Pronouncements | Recent Accounting Pronouncements | |
There are no recent accounting pronouncements that are applicable to us and adoption of which could potentially have a material impact on our consolidated financial statements. | Accounting pronouncements that are applicable to us and could potentially have a material impact on our financial statements are discussed below. | |
In May 2011, the Financial Accounting Standards Board (FASB) amended guidance on fair value measurement and expanded the required disclosures related to fair value. The amendments, among other things, clarify that the highest and best use concept applies only to nonfinancial assets and addresses the appropriate premiums and discounts to consider in fair value measurement. We adopted the guidance prospectively, effective January 1, 2012. Adoption did not have a significant impact on our financial position or results of operations. | ||
In September 2011, the FASB amended guidance on goodwill impairment testing. The amendments permit us to first assess qualitative factors to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount as a basis for determining whether it is necessary to perform the two-step goodwill impairment test. Previous guidance required us to test goodwill for impairment, on at least an annual basis, by comparing the fair value of a reporting unit with its carrying amount, including goodwill (step one). If the fair value of a reporting unit is less than its carrying amount, then the second step of the test must be performed to measure the amount of the impairment loss, if any. Under the amendments, we are not required to calculate the fair value of a reporting unit unless we determine that it is more likely than not that its fair value is less than its carrying amount. We adopted the amendments effective for annual and interim goodwill impairment tests (if required) performed after January 1, 2012. Adoption had no impact on our financial position or results of operations. |
LOSS_PER_SHARE_EPS_Tables_10K
LOSS PER SHARE (EPS) (Tables) (10-K) | 9 Months Ended | 12 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2013 | Dec. 31, 2012 | |||||||||||||||||||||||||
LOSS PER SHARE (EPS) [Abstract] | ' | ' | ||||||||||||||||||||||||
Reconciliation of EPS | ' | ' | ||||||||||||||||||||||||
Below are reconciliations of the numerators and denominators in the EPS computations for the three and nine months ended September 30, 2013 and 2012. | Below are reconciliations of the numerators and denominators in the EPS computations. | |||||||||||||||||||||||||
Three Months | Nine Months | 2012 | 2011 | |||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | NUMERATOR (in thousands): | ||||||||||||||||||||||
NUMERATOR (in thousands): | Basic and diluted - net loss attributable to RiceBran Technologies shareholders | $ | (9,509 | ) | $ | (10,099 | ) | |||||||||||||||||||
Basic and diluted - net loss attributable to RiceBran Technologies shareholders | $ | (2,071 | ) | $ | (368 | ) | $ | (9,851 | ) | $ | (9,398 | ) | ||||||||||||||
DENOMINATOR: | ||||||||||||||||||||||||||
DENOMINATOR: | Basic EPS - weighted average number of shares outstanding | 1,023,412 | 991,852 | |||||||||||||||||||||||
Basic EPS - weighted average number of shares outstanding | 1,129,290 | 1,024,345 | 1,082,452 | 1,020,242 | Effect of dilutive securities outstanding | - | - | |||||||||||||||||||
Effect of dilutive securities outstanding | - | - | - | - | Diluted EPS - weighted average number of shares outstanding | 1,023,412 | 991,852 | |||||||||||||||||||
Diluted EPS - weighted average number of shares outstanding | 1,129,290 | 1,024,345 | 1,082,452 | 1,020,242 | ||||||||||||||||||||||
Number of shares of common stock which could be purchased with weighted average outstanding securities not included in diluted EPS because effect would be antidilutive- | ||||||||||||||||||||||||||
Number of shares of common stock which could be purchased with weighted average outstanding securities not included in diluted EPS because effect would be antidilutive- | Stock options (average exercise price of $48.00 and $58.00 ) | 191,187 | 197,879 | |||||||||||||||||||||||
Stock options (average exercise price for the three and nine months ended September 30, 2013, of $24.00 and $28.00) | 181,584 | 192,353 | 179,912 | 195,236 | Warrants (average exercise price of $62.00 and $226.00) | 736,753 | 214,765 | |||||||||||||||||||
Warrants (average exercise price for the three and nine months ended September 30, 2013, of $16.00 and $20.00) | 716,917 | 1,003,127 | 751,653 | 713,414 | Convertible notes (average conversion price of $16.00 and $42.00) | 334,709 | 25,800 | |||||||||||||||||||
Convertible debt (average conversion price for the three and nine months ended September 30, 2013, of $14.00) | 438,754 | 416,805 | 452,184 | 287,368 |
REDEEMABLE_NONCONTROLLING_INTE2
REDEEMABLE NONCONTROLLING INTEREST IN NUTRA SA (Tables) (10-K) | 9 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||
Sep. 30, 2013 | Dec. 31, 2012 | |||||||||||||||||||||||||||||
REDEEMABLE NONCONTROLLING INTEREST IN NUTRA SA [Abstract] | ' | ' | ||||||||||||||||||||||||||||
Summary of the carrying amounts included in consolidated balance sheets | ' | ' | ||||||||||||||||||||||||||||
A summary of the carrying amounts of Nutra SA balances included in our consolidated balance sheets follows (in thousands). | A summary of the carrying amounts of Nutra SA balances included in our consolidated balance sheets follows (in thousands). | |||||||||||||||||||||||||||||
September 30, | December 31, | December 31, | ||||||||||||||||||||||||||||
2013 | 2012 | 2012 | 2011 | |||||||||||||||||||||||||||
Cash and cash equivalents | $ | 478 | $ | 562 | Cash and cash equivalents | $ | 562 | $ | 3,290 | |||||||||||||||||||||
Other current assets (restricted $2,154 and $2,505) | 4,370 | 5,675 | Other current assets (restricted $2,505 at December 31, 2012) | 5,675 | 6,641 | |||||||||||||||||||||||||
Property, net (restricted $5,231 and $5,757) | 18,319 | 19,690 | Property, net (restricted $5,757 at December 31, 2012) | 19,690 | 15,833 | |||||||||||||||||||||||||
Goodwill and intangibles, net | 5,185 | 6,215 | Goodwill and intangibles, net | 6,215 | 7,556 | |||||||||||||||||||||||||
Other noncurrent assets | 24 | 54 | Other noncurrent assets | 54 | 21 | |||||||||||||||||||||||||
Total assets | $ | 28,376 | $ | 32,196 | Total assets | $ | 32,196 | $ | 33,341 | |||||||||||||||||||||
Current liabilities | $ | 6,007 | $ | 5,141 | Current liabilities | $ | 5,141 | $ | 3,851 | |||||||||||||||||||||
Current portion of long-term debt (nonrecourse) | 7,679 | 7,013 | Current portion of long-term debt (nonrecourse $7,013 at December 31, 2012) | 7,013 | 5,469 | |||||||||||||||||||||||||
Long-term debt, less current portion (nonrecourse) | 7,126 | 7,454 | Long-term debt, less current portion (nonrecourse $7,454 at December 31, 2012) | 7,454 | 6,361 | |||||||||||||||||||||||||
Other noncurrent liabilities | 93 | 1,871 | Other noncurrent liabilities | 1,871 | 3,766 | |||||||||||||||||||||||||
Total liabilities | $ | 20,905 | $ | 21,479 | Total liabilities | $ | 21,479 | $ | 19,447 | |||||||||||||||||||||
Summary of changes in redeemable noncontrolling interest | ' | ' | ||||||||||||||||||||||||||||
A summary of changes in redeemable noncontrolling interest for the three and nine months ended September 30, 2013 and 2012, follows (in thousands). | A summary of changes in redeemable noncontrolling interest in Nutra SA follows (in thousands): | |||||||||||||||||||||||||||||
Three Months | Nine Months Ended | Investors' Ownership Interest After Transaction | 2012 | 2011 | ||||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | Redeemable noncontrolling interest in Nutra SA, beginning of period | $ | 9,918 | $ | - | ||||||||||||||||||||||
Redeemable noncontrolling interest in Nutra SA, beginning of period | $ | 7,836 | $ | 8,340 | $ | 9,262 | $ | 9,918 | Investors' purchase of initial units - first quarter 2011 | 35.6 | % | - | 7,725 | |||||||||||||||||
Investors' interest in net loss of Nutra SA | (605 | ) | (212 | ) | (1,633 | ) | (1,184 | ) | Investors' purchase of additional units - second quarter 2011 | 45.2 | % | - | 3,000 | |||||||||||||||||
Investors' interest in other comprehensive loss of Nutra SA | (43 | ) | 137 | (441 | ) | (469 | ) | Investors' purchase of additional units - third quarter 2011 | 49 | % | - | 900 | ||||||||||||||||||
Investors' purchase of additional units of Nutra SA | 300 | - | 300 | - | Investors' purchase of additional units - fourth quarter 2012 | 49 | % | 1,500 | - | |||||||||||||||||||||
Redeemable noncontrolling interest in Nutra SA, end of period | $ | 7,488 | $ | 8,265 | $ | 7,488 | $ | 8,265 | Investors' interest in net loss of Nutra SA | (1,627 | ) | (776 | ) | |||||||||||||||||
Investors' interest in accumulated other comprehensive income of Nutra SA | (529 | ) | (931 | ) | ||||||||||||||||||||||||||
Redeemable noncontrolling interest in Nutra SA, end of period | $ | 9,262 | $ | 9,918 |
INVENTORIES_Tables_10K
INVENTORIES (Tables) (10-K) | 9 Months Ended | 12 Months Ended | ||||||||||||||||
Sep. 30, 2013 | Dec. 31, 2012 | |||||||||||||||||
INVENTORIES [Abstract] | ' | ' | ||||||||||||||||
Inventories | ' | ' | ||||||||||||||||
Inventories are composed of the following (in thousands): | Inventories are composed of the following (in thousands): | |||||||||||||||||
September 30, | December 31, | As of December 31, | ||||||||||||||||
2013 | 2012 | 2012 | 2011 | |||||||||||||||
Finished goods | $ | 1,096 | $ | 1,146 | Finished goods | $ | 1,146 | $ | 906 | |||||||||
Work in process | 61 | 330 | Work in process | 330 | 804 | |||||||||||||
Raw materials | 170 | 255 | Raw materials | 255 | 353 | |||||||||||||
Packaging supplies | 233 | 263 | Packaging supplies | 263 | 234 | |||||||||||||
Total inventories | $ | 1,560 | $ | 1,994 | Total inventories | $ | 1,994 | $ | 2,297 |
PROPERTY_Tables_10K
PROPERTY (Tables) (10-K) | 9 Months Ended | 12 Months Ended | |||||||||||||||||
Sep. 30, 2013 | Dec. 31, 2012 | ||||||||||||||||||
PROPERTY [Abstract] | ' | ' | |||||||||||||||||
Property | ' | ' | |||||||||||||||||
Property consisted of the following (in thousands): | Property consists of the following (in thousands): | ||||||||||||||||||
September 30, | December 31, | As of December 31, | |||||||||||||||||
2013 | 2012 | 2012 | 2011 | Estimated Useful Lives | |||||||||||||||
Land | $ | 389 | $ | 403 | Land | $ | 403 | $ | 420 | ||||||||||
Furniture and fixtures | 357 | 358 | Furniture and fixtures | 358 | 363 | 5-10 years | |||||||||||||
Plant | 14,964 | 14,362 | Plant | 14,362 | 14,122 | 25-30 years, or life of lease | |||||||||||||
Computer and software | 1,452 | 1,407 | Computer and software | 1,407 | 1,352 | 3-5 years | |||||||||||||
Leasehold improvements | 200 | 189 | Leasehold improvements | 189 | 189 | 3-7 years or life of lease | |||||||||||||
Machinery and equipment | 15,298 | 15,053 | Machinery and equipment | 15,053 | 17,249 | 5-10 years | |||||||||||||
Construction in progress | 7,098 | 9,118 | Construction in progress | 9,118 | 5,710 | ||||||||||||||
Property | 39,758 | 40,890 | Subtotal | 40,890 | 39,405 | ||||||||||||||
Less accumulated depreciation | 13,938 | 12,433 | Less accumulated depreciation | 12,433 | 11,410 | ||||||||||||||
Property, net | $ | 25,820 | $ | 28,457 | Property, net | $ | 28,457 | $ | 27,995 |
INTANGIBLE_ASSETS_Tables_10K
INTANGIBLE ASSETS (Tables) (10-K) | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2012 | |||||||||||||||||||||||||
INTANGIBLE ASSETS [Abstract] | ' | ||||||||||||||||||||||||
Intangible assets | ' | ||||||||||||||||||||||||
Intangible assets consist of the following (in thousands): | |||||||||||||||||||||||||
USA Segment | Brazil Segment | Total | |||||||||||||||||||||||
Customer | Customer | Intangible | |||||||||||||||||||||||
Patents | Trademarks | Lists | Trademarks | Lists | Assets | ||||||||||||||||||||
31-Dec-12 | |||||||||||||||||||||||||
Cost | $ | 1,697 | $ | 48 | $ | 2,677 | $ | 3,418 | $ | 1,250 | $ | 9,090 | |||||||||||||
Accumulated amortization | (1,029 | ) | (38 | ) | (2,222 | ) | (2,362 | ) | (864 | ) | (6,515 | ) | |||||||||||||
Net book value | $ | 668 | $ | 10 | $ | 455 | $ | 1,056 | $ | 386 | $ | 2,575 | |||||||||||||
31-Dec-11 | |||||||||||||||||||||||||
Cost | $ | 1,768 | $ | 48 | $ | 2,677 | $ | 3,751 | $ | 1,372 | $ | 9,616 | |||||||||||||
Accumulated amortization | (957 | ) | (35 | ) | (1,888 | ) | (2,056 | ) | (752 | ) | (5,688 | ) | |||||||||||||
Net book value | $ | 811 | $ | 13 | $ | 789 | $ | 1,695 | $ | 620 | $ | 3,928 | |||||||||||||
Estimated useful lives | 17 years | 7 years | 7 years | 7 years | 7 years |
DEBT_Tables_10K
DEBT (Tables) (10-K) | 9 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Sep. 30, 2013 | Dec. 31, 2012 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
DEBT [Abstract] | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Current and long-term debt | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||||||||||
The following table summarizes current and long-term portions of debt (in thousands). | The following table summarizes current and long-term portions of debt (in thousands): | |||||||||||||||||||||||||||||||||||||||||||||||||||||
September 30, | December 31, | As of December 31, | ||||||||||||||||||||||||||||||||||||||||||||||||||||
2013 | 2012 | 2012 | 2011 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Corporate segment: | Corporate and USA segments: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Senior convertible revolving note, net | $ | 1,608 | $ | - | Senior convertible debentures, net | $ | 1,048 | $ | - | |||||||||||||||||||||||||||||||||||||||||||||
Senior convertible debentures, net | 96 | 1,048 | Subordinated convertible notes, net | 4,041 | 2,126 | |||||||||||||||||||||||||||||||||||||||||||||||||
Subordinated convertible notes, net | 5,230 | 4,041 | Factoring agreement | 28 | 262 | |||||||||||||||||||||||||||||||||||||||||||||||||
Other | 38 | 28 | Other | - | 507 | |||||||||||||||||||||||||||||||||||||||||||||||||
6,972 | 5,117 | 5,117 | 2,895 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Brazil segment: | Brazil segment: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Capital expansion loans | 5,021 | 5,555 | Working capital lines of credit | 2,227 | 1,778 | |||||||||||||||||||||||||||||||||||||||||||||||||
Equipment financing | 210 | 201 | Capital expansion loans | 5,555 | 3,789 | |||||||||||||||||||||||||||||||||||||||||||||||||
Working capital lines of credit | 3,767 | 2,227 | Equipment financing | 201 | 214 | |||||||||||||||||||||||||||||||||||||||||||||||||
Advances on export letters of credit | 3,189 | 3,953 | Advances on export letters of credit | 3,953 | 2,838 | |||||||||||||||||||||||||||||||||||||||||||||||||
Special tax programs | 2,618 | 2,531 | Special tax programs | 2,531 | 3,211 | |||||||||||||||||||||||||||||||||||||||||||||||||
14,805 | 14,467 | 14,467 | 11,830 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Total debt | 21,777 | 19,584 | Total debt | 19,584 | 14,725 | |||||||||||||||||||||||||||||||||||||||||||||||||
Current portion | 9,422 | 8,003 | Current portion | 8,003 | 6,792 | |||||||||||||||||||||||||||||||||||||||||||||||||
Long-term portion | $ | 12,355 | $ | 11,581 | Long-term portion | $ | 11,581 | $ | 7,933 | |||||||||||||||||||||||||||||||||||||||||||||
Required future minimum payments on debt | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Required future minimum payments on our debt as of December 31, 2012, follow (in thousands). | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Corporate and USA Segments | Brazil Segment | Total | ||||||||||||||||||||||||||||||||||||||||||||||||||||
2013 | $ | 1,219 | $ | 7,013 | $ | 8,232 | ||||||||||||||||||||||||||||||||||||||||||||||||
2014 | 108 | 1,283 | 1,391 | |||||||||||||||||||||||||||||||||||||||||||||||||||
2015 | 5,375 | 1,086 | 6,461 | |||||||||||||||||||||||||||||||||||||||||||||||||||
2016 | - | 983 | 983 | |||||||||||||||||||||||||||||||||||||||||||||||||||
2017 | - | 976 | 976 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Thereafter | - | 3,126 | 3,126 | |||||||||||||||||||||||||||||||||||||||||||||||||||
$ | 6,702 | $ | 14,467 | $ | 21,169 | |||||||||||||||||||||||||||||||||||||||||||||||||
Convertible notes and debenture information | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||||||||||
In the second quarter of 2013, we issued subordinated convertible notes and related warrants, which are described in the chart below. | Convertible debt instruments outstanding as of December 31, 2012, are listed below. | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Issuance | Principal Amount of Notes (in thousands) | Creditor's Debt Conversion Right | Stated Annual Interest Rate on Debt | Maturity Date of Debt | Number of Shares Under Warrant | Exercise Price of Warrant | Expiration Date of Warrant | Issuance | Issuance Date of Debt | Principal Amount of Debt (in thousands) | Creditor's Debt Conversion Right | Stated Annual Interest Rate on Debt | Maturity Date of Debt | |||||||||||||||||||||||||||||||||||||||||
Senior Convertible Debentures | Jul-12 | $ | 1,299 | Convertible January 2013 at $14.00 per share | NA | Jan-14 | ||||||||||||||||||||||||||||||||||||||||||||||||
Subordinated Convertible Notes and Warrants | $ | 538 | Convertible immediately at $14.00 per share | 10 | % | July 2015 or | 38,400 | Exercisable immediately at $16.00 per share | July 2017 or May 2018 | Subordinated Convertible Note | Aug-12 | 150 | Convertible immediately at $14.00 per share | 10 | % | Jul-15 | ||||||||||||||||||||||||||||||||||||||
Jul-16 | Subordinated Convertible Notes | Jul-12 | 850 | Convertible immediately at $14.00 per share | 10 | % | Jul-15 | |||||||||||||||||||||||||||||||||||||||||||||||
Subordinated Convertible Note | May-12 | 50 | Convertible immediately at $14.00 per share | 10 | % | Jul-15 | ||||||||||||||||||||||||||||||||||||||||||||||||
Subordinated Convertible Notes | Jan-12 | 4,325 | Convertible immediately at $14.00 per share | 10 | % | Jul-15 | ||||||||||||||||||||||||||||||||||||||||||||||||
Components of convertible debt | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||||||||||
As of September 30, 2013, our convertible debt consists of the following components (in thousands): | As of December 31, 2012, our convertible debt consists of the following components (in thousands): | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Senior | Subordinated | Notes | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Convertible | Senior | Convertible Notes | Debentures | Halpern Entities | Other Investors | Total | ||||||||||||||||||||||||||||||||||||||||||||||||
Revolving | Convertible | Halpern | Other | Principal outstanding | $ | (1,299 | ) | $ | (2,600 | ) | $ | (2,775 | ) | $ | (6,674 | ) | ||||||||||||||||||||||||||||||||||||||
Note | Debentures | Entities | Investors | Total | Discount | 422 | 587 | 2,775 | 3,784 | |||||||||||||||||||||||||||||||||||||||||||||
Principal outstanding | $ | 1,558 | $ | 97 | $ | 2,600 | $ | 3,419 | $ | 7,674 | Derivative conversion liabilities | (171 | ) | (980 | ) | (1,048 | ) | (2,199 | ) | |||||||||||||||||||||||||||||||||||
Discount | (41 | ) | (3 | ) | (470 | ) | (3,419 | ) | (3,933 | ) | Debt | $ | (1,048 | ) | $ | (2,993 | ) | $ | (1,048 | ) | (5,089 | ) | ||||||||||||||||||||||||||||||||
Derivative conversion liabilities | 91 | 2 | 1,267 | 1,833 | 3,193 | |||||||||||||||||||||||||||||||||||||||||||||||||
Debt | $ | 1,608 | $ | 96 | $ | 3,397 | $ | 1,833 | $ | 6,934 | Debt - current portion | $ | (962 | ) | $ | - | $ | - | $ | (962 | ) | |||||||||||||||||||||||||||||||||
Debt - long-term portion | (86 | ) | (2,993 | ) | (1,048 | ) | (4,127 | ) | ||||||||||||||||||||||||||||||||||||||||||||||
Debt - current portion | $ | 1,608 | $ | 96 | $ | - | $ | - | $ | 1,704 | ||||||||||||||||||||||||||||||||||||||||||||
Debt - long-term portion | - | - | 3,397 | 1,833 | 5,230 | |||||||||||||||||||||||||||||||||||||||||||||||||
Allocation of convertible debt proceeds | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||||||||||
A summary of the allocation of the proceeds from the 2012 issuances of the senior convertible debenture, subordinated convertible notes and related warrants follows (in thousands). | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
First and Second Quarter of 2012 | Third Quarter of 2012 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Debenture | Notes and Warrants | Debentures and Warrants | Notes and Warrants | |||||||||||||||||||||||||||||||||||||||||||||||||||
and | Halpern | Other | Replace- | Halpern | Other | |||||||||||||||||||||||||||||||||||||||||||||||||
Warrant | Entities | Investors | New | ment | Entities | Investors | Total | |||||||||||||||||||||||||||||||||||||||||||||||
(Increases) decreases in: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt - principal | $ | (870 | ) | $ | (2,500 | ) | $ | (1,875 | ) | $ | (290 | ) | $ | (139 | ) | $ | (100 | ) | $ | (900 | ) | $ | (6,674 | ) | ||||||||||||||||||||||||||||||
Debt - discount | 870 | 630 | 1,875 | 290 | (661 | ) | 100 | 900 | 4,004 | |||||||||||||||||||||||||||||||||||||||||||||
Debt - derivative conversion liabilities | (296 | ) | (1,942 | ) | (1,448 | ) | (128 | ) | (105 | ) | (69 | ) | (583 | ) | (4,571 | ) | ||||||||||||||||||||||||||||||||||||||
Derivative warrant liabilities | (648 | ) | (2,473 | ) | (1,848 | ) | (273 | ) | (907 | ) | (88 | ) | (746 | ) | (6,983 | ) | ||||||||||||||||||||||||||||||||||||||
Debt (carrying amount of old note) | - | 2,152 | - | - | - | - | - | 2,152 | ||||||||||||||||||||||||||||||||||||||||||||||
Equity | - | 1,089 | - | - | - | - | - | 1,089 | ||||||||||||||||||||||||||||||||||||||||||||||
Loss on extinguishment | - | 2,986 | - | - | 1,955 | - | - | 4,941 | ||||||||||||||||||||||||||||||||||||||||||||||
Financing expense | 168 | - | 1,376 | 141 | 27 | 59 | 413 | 2,184 | ||||||||||||||||||||||||||||||||||||||||||||||
Other long -term assets - deferred finance costs | 144 | 65 | 134 | 23 | (148 | ) | 4 | 73 | 295 | |||||||||||||||||||||||||||||||||||||||||||||
Proceeds, net of finance costs | 632 | (7 | ) | 1,786 | 237 | (22 | ) | 94 | 843 | 3,563 | ||||||||||||||||||||||||||||||||||||||||||||
Convertibles notes and related warrants issued | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||||||||||
During 2011, we issued several convertibles notes, with related warrants to our financial advisor, who became a director of RiceBran Technologies in January 2012. Below is a summary of the transactions. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Transaction | Principal amount of Note(s) (in thousands) | Stated Annual Interest Rate on Note(s) | Per Share Note Conversion Price | Cash Received in Transaction (in thousands) | Number of Shares Under Equity Warrant(s) | Average Exercise Price of Warrant(s) | ||||||||||||||||||||||||||||||||||||||||||||||||
First quarter 2011 | -1 | $ | 500 | 10 | % | $ | 40 | $ | 500 | 2,500 | $ | 50 | ||||||||||||||||||||||||||||||||||||||||||
Second quarter 2011 | -2 | 730 | 10 | % | 46 | 230 | 3,650 | 46 | ||||||||||||||||||||||||||||||||||||||||||||||
Third quarter 2011, event A | -2 | 270 | 10 | % | 46 | 270 | 1,350 | 46 | ||||||||||||||||||||||||||||||||||||||||||||||
Third quarter 2011, event B | -2 | 730 | 10 | % | 46 | 730 | 3,650 | 46 | ||||||||||||||||||||||||||||||||||||||||||||||
Fourth quarter 2011 | -3 | 2,323 | 10 | % | 40 | 550 | 11,616 | 44 | ||||||||||||||||||||||||||||||||||||||||||||||
Total in 2011 | $ | 2,280 | 22,766 | |||||||||||||||||||||||||||||||||||||||||||||||||||
-1 | The convertible note and the related warrant issued in the first quarter of 2011, were terminated and cancelled in the second quarter of 2011 when the second quarter transaction occurred. | |||||||||||||||||||||||||||||||||||||||||||||||||||||
-2 | The convertible notes and related warrants issued in the second and third quarters of 2011, were terminated and cancelled in the fourth quarter of 2011 when the fourth quarter transaction occurred. | |||||||||||||||||||||||||||||||||||||||||||||||||||||
-3 | The convertible notes and related warrants issued in the fourth quarter of 2011, were terminated and cancelled in the first quarter of 2012, when a subordinated convertible note was issued to the Halpern Entities, as described further below. |
EQUITY_AND_SHAREBASED_COMPENSA1
EQUITY AND SHARE-BASED COMPENSATION (Tables) (10-K) | 9 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Sep. 30, 2013 | Dec. 31, 2012 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
EQUITY AND SHARE-BASED COMPENSATION [Abstract] | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Summary of stock option and warrant activity | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
A summary of stock option and warrant activity for the nine months ended September 30, 2013, follows. | A summary of stock option and warrant activity for 2012 and 2011 follows. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Options | Equity and Liability Warrants | Options | Equity and Liability Warrants | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares Under Options | Weighted Average Exercise Price | Weighted Average Remaining Contractual Life (Years) | Shares Under Warrants | Weighted Average Exercise Price | Weighted Average Remaining Contractual Life (Years) | Shares Under Options | Weighted Average Exercise Price | Weighted Average Remaining Contractual Life (Years) | Shares Under Warrants | Weighted Average Exercise Price | Weighted Average Remaining Contractual Life (Years) | |||||||||||||||||||||||||||||||||||||||||||||
Outstanding, December 31, 2012 | 169,254 | $ | 32 | 6.3 | 806,769 | $ | 24 | 3.5 | Outstanding, January 1, 2011 | 227,426 | $ | 60 | 6.8 | 202,148 | $ | 254 | 2.3 | |||||||||||||||||||||||||||||||||||||||
Granted (1) | 37,500 | 16 | 54,581 | 16 | Granted | 26,022 | 44 | 25,794 | 46 | |||||||||||||||||||||||||||||||||||||||||||||||
Impact of anti-dilution clauses | - | - | 2,082 | NA | Impact of anti-dilution clauses | - | NA | 31,517 | NA | |||||||||||||||||||||||||||||||||||||||||||||||
Exercised | - | - | - | - | Exercised | - | NA | - | NA | |||||||||||||||||||||||||||||||||||||||||||||||
Forfeited, expired or cancelled | (27,551 | ) | 54 | (146,106 | ) | 66 | Forfeited, expired or cancelled | (60,504 | ) | 72 | (25,512 | ) | 148 | |||||||||||||||||||||||||||||||||||||||||||
Outstanding, September 30, 2013 | 179,203 | $ | 24.4 | 6.4 | 717,326 | $ | 16 | 3.6 | Outstanding, December 31, 2011 | 192,944 | 54 | 6.3 | 233,947 | 208 | 1.7 | |||||||||||||||||||||||||||||||||||||||||
Exercisable, September 30, 2013 | 144,887 | $ | 26 | 5.9 | 717,326 | $ | 16 | 3.6 | Granted | 29,060 | 30 | 423,782 | 20 | |||||||||||||||||||||||||||||||||||||||||||
Impact of anti-dilution clauses | - | NA | 518,720 | NA | ||||||||||||||||||||||||||||||||||||||||||||||||||||
-1 | Includes adjustments to shares underlying PIK warrants. | Impact of amendment | - | NA | 78,215 | NA | ||||||||||||||||||||||||||||||||||||||||||||||||||
Exercised | - | NA | (25,015 | ) | 20 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Forfeited, expired or cancelled | (52,750 | ) | 68 | (422,880 | ) | 86 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Outstanding, December 31, 2012 | 169,254 | $ | 32 | 6.3 | 806,769 | $ | 24 | 3.5 | ||||||||||||||||||||||||||||||||||||||||||||||||
Exercisable, December 31, 2012 | 143,522 | $ | 34 | 5.9 | 713,969 | $ | 26 | 3.3 | ||||||||||||||||||||||||||||||||||||||||||||||||
Options granted under 2010 Equity Incentive Plan | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
The options granted under the 2010 Plan have terms of up to 10 years. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
December 31, | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2012 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Initially reserved | 125,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Additionally reserved - annual increases | 99,156 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Additionally reserved - board action | 40,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Options granted since inception, net of forfeited, expired or cancelled | (114,890 | ) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stock granted since inception | (60,282 | ) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Available for issuance under the 2010 Plan | 88,984 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-based compensation expenses included in selling, general and administrative expenses | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-based compensation expenses related to options are included in selling, general and administrative expenses in the statements of operations, and consisted of the following (in thousands): | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2012 | 2011 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Consultants | $ | 42 | $ | 14 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Directors | 285 | 280 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Employees | 152 | 112 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Executive officers | 444 | 501 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total share-based compensation expense, options | $ | 923 | $ | 907 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Summary of option activity | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
The following table summarizes option activity during 2012 and 2011: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Employees and Directors | Consultants | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Weighted Average Exercise Price | Shares Under Options | Weighted Average Exercise Price | Shares Under Options | Total Number of Options | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Outstanding, January 1, 2011 | $ | 82 | 218,808 | $ | 292 | 8,618 | 227,426 | |||||||||||||||||||||||||||||||||||||||||||||||||
Granted | 42 | 22,022 | 62 | 4,000 | 26,022 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Forfeited, expired or cancelled | 68 | (60,336 | ) | 2,000.00 | (168 | ) | (60,504 | ) | ||||||||||||||||||||||||||||||||||||||||||||||||
Exercised | NA | - | NA | - | - | |||||||||||||||||||||||||||||||||||||||||||||||||||
Outstanding, December 31, 2011 | 48 | 180,494 | 152 | 12,450 | 192,944 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Granted | 26 | 28,060 | 16 | 1,000 | 29,060 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Forfeited, expired or cancelled | 58 | (50,250 | ) | 266 | (2,500 | ) | (52,750 | ) | ||||||||||||||||||||||||||||||||||||||||||||||||
Exercised | NA | - | NA | - | - | |||||||||||||||||||||||||||||||||||||||||||||||||||
Outstanding, December 31, 2012 | $ | 26 | 158,304 | $ | 106 | 10,950 | 169,254 | |||||||||||||||||||||||||||||||||||||||||||||||||
Exercisable, December 31, 2012 | $ | 28 | 134,155 | $ | 112 | 9,367 | 143,522 | |||||||||||||||||||||||||||||||||||||||||||||||||
Exercisable, December 31, 2011 | $ | 52 | 129,571 | $ | 190 | 8,867 | 138,438 | |||||||||||||||||||||||||||||||||||||||||||||||||
Weighted-average assumptions used in valuing stock options | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
The following are the weighted-average assumptions used in valuing stock options: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2012 | 2011 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair value of options granted | $ | 20 | $ | 38 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Volatility | 109.2 | % | 101.5 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Risk free interest rate | 0.9 | % | 0.8 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Expected life of options (in years) | 6.1 | 5.2 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Expected dividends | - | - | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Forfeiture rate | 5 | % | 5 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Summary of information related to outstanding and exercisable options | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
The following table summarizes information related to outstanding and exercisable options: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
As of December 31, 2012 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Outstanding | Exercisable | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Range of Exercise Prices | Shares Under Options | Weighted Average Exercise Price | Weighted Average Remaining Contractual Life (Years) | Shares Under Options | Weighted Average Exercise Price | Weighted Average Remaining Contractual Life (Years) | ||||||||||||||||||||||||||||||||||||||||||||||||||
$ | 16 | 110,212 | $ | 16 | 7 | 86,063 | $ | 16 | 6.7 | |||||||||||||||||||||||||||||||||||||||||||||||
$ | 28 | 3,540 | 28 | 9.2 | 3,540 | 28 | 9.2 | |||||||||||||||||||||||||||||||||||||||||||||||||
$ | 40 | 34,064 | 40 | 5.6 | 34,064 | 40 | 5.6 | |||||||||||||||||||||||||||||||||||||||||||||||||
$ | 60 | 15,000 | 60 | 2 | 15,000 | 60 | 2 | |||||||||||||||||||||||||||||||||||||||||||||||||
$ | 74 | 3,438 | 74 | 8.2 | 1,855 | 74 | 8.2 | |||||||||||||||||||||||||||||||||||||||||||||||||
$ | 242 | 500 | 242 | 3 | 500 | 242 | 3 | |||||||||||||||||||||||||||||||||||||||||||||||||
$ | 300 | 2,500 | 300 | 0.4 | 2,500 | 300 | 0.4 | |||||||||||||||||||||||||||||||||||||||||||||||||
$ | 16.00 to $300.00 | 169,254 | 32 | 6.3 | 143,522 | 34 | 5.9 | |||||||||||||||||||||||||||||||||||||||||||||||||
Summary of warrant activity | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
The following table summarizes information related to outstanding warrants: | We have outstanding warrants classified as equity (equity warrants) and as warrant liability (liability warrants). | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
As of September 30, 2013 | As of December 31, 2012 | Equity Warrants | Liability Warrants | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Range of Exercise Prices | Type of Warrant | Shares Under Warrants | Weighted Average Exercise Price | Weighted Average Remaining Contractual Life (Years) | Shares Under Warrants | Weighted Average Exercise Price | Weighted Average Remaining Contractual Life (Years) | Shares Under Equity Warrants | Weighted Average Exercise Price | Weighted Average Remaining Contractual Life (Years) | Shares Under Liability Warrants | Weighted Average Exercise Price | Weighted Average Remaining Contractual Life (Years) | |||||||||||||||||||||||||||||||||||||||||||
$ | 14.00-$16.00 | Liability (1) | 695,390 | $ | 16 | 3.6 | 656,990 | $ | 16 | 4.2 | Balance, January 1, 2011 | 2,727 | $ | 138 | 2.8 | 199,421 | $ | 256 | 2.3 | |||||||||||||||||||||||||||||||||||||
$ | 16 | Liability (2) | 4,005 | 16 | 4.8 | - | - | - | Granted | 25,795 | 46 | - | ||||||||||||||||||||||||||||||||||||||||||||
$ | 16 | Equity | 12,176 | 16 | 4.7 | - | - | - | Impact of antidilution clauses | - | 31,516 | |||||||||||||||||||||||||||||||||||||||||||||
$ | 46 | Equity | 3,029 | 46 | 3.2 | 3,029 | 46 | 3.9 | Exercised | - | - | |||||||||||||||||||||||||||||||||||||||||||||
$ | 66 | Liability (1) | - | - | - | 144,023 | 66 | 0.3 | Forfeited, expired or cancelled | (11,150 | ) | 46 | (14,362 | ) | 226 | |||||||||||||||||||||||||||||||||||||||||
$ | 138 | Equity | 2,727 | 138 | 0.1 | 2,727 | 138 | 0.8 | Balance, December 31, 2011 | 17,372 | 60 | 3.5 | 216,575 | 220 | 1.5 | |||||||||||||||||||||||||||||||||||||||||
717,327 | $ | 16 | 3.6 | 806,769 | $ | 24 | 3.5 | Granted | - | - | 423,782 | 20 | ||||||||||||||||||||||||||||||||||||||||||||
Impact of antidilution clauses | - | - | 518,720 | NA | ||||||||||||||||||||||||||||||||||||||||||||||||||||
-1 | The warrant contain full ratchet anti-dilution provisions. | Impact of amendment | - | - | 78,215 | NA | ||||||||||||||||||||||||||||||||||||||||||||||||||
-2 | The warrants are classified as liability warrants because an indeterminate number of shares are issuable under the TCA debt agreement. | Exercised | - | - | (25,015 | ) | 20 | |||||||||||||||||||||||||||||||||||||||||||||||||
Forfeited, expired or cancelled | (11,616 | ) | 44 | (411,264 | ) | 88 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Outstanding, December 31, 2012 | 5,756 | $ | 90 | 2.4 | 801,013 | $ | 24 | $ | 3.5 | |||||||||||||||||||||||||||||||||||||||||||||||
Exercisable, December 31, 2012 | 5,756 | $ | 90 | 2.4 | 708,213 | $ | 24 | $ | 3.3 | |||||||||||||||||||||||||||||||||||||||||||||||
Summary of information related to outstanding and exercisable warrants | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
The following table summarizes information related to outstanding and exercisable warrants: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
As of December 31, 2012 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Outstanding | Exercisable | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Range of Exercise Prices | Type of Warrant | Shares Under Warrants | Weighted Average Exercise Price | Weighted Average Remaining Contractual Life (Years) | Shares Under Warrants | Exercise Price | Remaining Contractual Life (Years) | |||||||||||||||||||||||||||||||||||||||||||||||||
$ | 14.00-$16.00 | Liability | 656,990 | $ | 16 | 4.2 | 564,190 | $ | 16 | 4.1 | ||||||||||||||||||||||||||||||||||||||||||||||
$ | 46 | Equity | 3,029 | 46 | 3.9 | 3,029 | 46 | 3.9 | ||||||||||||||||||||||||||||||||||||||||||||||||
$ | 66 | Liability | 144,023 | 66 | 0.3 | 144,023 | 66 | 0.3 | ||||||||||||||||||||||||||||||||||||||||||||||||
$ | 138 | Equity | 2,727 | 138 | 0.8 | 2,727 | 138 | 0.8 | ||||||||||||||||||||||||||||||||||||||||||||||||
806,769 | $ | 24 | 3.5 | 713,969 | $ | 26 | 3.3 |
INCOME_TAXES_Tables_10K
INCOME TAXES (Tables) (10-K) | 12 Months Ended | ||||||||
Dec. 31, 2012 | |||||||||
INCOME TAXES [Abstract] | ' | ||||||||
Schedule of Deferred Tax Assets and Liabilities | ' | ||||||||
Deferred tax assets (liabilities) are comprised of the following (in thousands): | |||||||||
As of December 31, | |||||||||
2012 | 2011 | ||||||||
United States | |||||||||
Net operating loss carryforwards | $ | 41,374 | $ | 42,008 | |||||
Gain on sale of membership interests in Nutra SA | 374 | 374 | |||||||
Stock options and warrants | 1,144 | 3,000 | |||||||
Intangible assets | 960 | 577 | |||||||
Property | 5,651 | 4,372 | |||||||
Capitalized expenses | 715 | 1,217 | |||||||
Convertible debt | (399 | ) | - | ||||||
Other | 86 | 283 | |||||||
Deferred tax assets | 49,905 | 51,831 | |||||||
Less: Valuation allowance | (49,905 | ) | (51,831 | ) | |||||
Net deferred tax asset | - | - | |||||||
Brazil | |||||||||
Intangible assets | (490 | ) | (904 | ) | |||||
Property | (2,165 | ) | (2,927 | ) | |||||
Net operating loss carryforwards | 960 | 14 | |||||||
Other | 255 | 209 | |||||||
Net deferred tax liability | (1,440 | ) | (3,608 | ) | |||||
$ | (1,440 | ) | $ | (3,608 | ) | ||||
Deferred tax asset - current | $ | 234 | $ | 159 | |||||
Deferred tax liability - long-term | (1,674 | ) | (3,767 | ) | |||||
$ | (1,440 | ) | $ | (3,608 | ) | ||||
Income (Loss) from Continuing Operations before Income Taxes | ' | ||||||||
Loss before income taxes is comprised of the following (in thousands): | |||||||||
2012 | 2011 | ||||||||
Foreign | $ | (5,051 | ) | $ | (2,277 | ) | |||
Domestic | (8,020 | ) | (8,943 | ) | |||||
Loss before income taxes | $ | (13,071 | ) | $ | (11,220 | ) | |||
Schedule of Effective Income Tax Rate Reconciliation | ' | ||||||||
Reconciliations between the amount computed by applying the U.S. federal statutory tax rate (34%) to loss before income taxes, and income tax benefit follows (in thousands): | |||||||||
2012 | 2011 | ||||||||
Income tax benefit at federal statutory rate | $ | (4,444 | ) | $ | (3,815 | ) | |||
Increase (decrease) resulting from: | |||||||||
State tax benefit, net of federal tax effect | (251 | ) | (347 | ) | |||||
Change in valuation allowance | (1,926 | ) | 1,313 | ||||||
Adjustment to U.S. net operating losses | - | 1,694 | |||||||
Adjustment to capitalized costs deferred balances | 443 | - | |||||||
Adjustment to stock option compensation deferred balances | 1,602 | - | |||||||
Reduction in deferred balances for forfeited, expired or cancelled options | 602 | - | |||||||
Expiration of U.S. net operating losses | 1,460 | 115 | |||||||
Nontaxable fair value adjustment | (1,843 | ) | (113 | ) | |||||
Nondeductible convertible debt issuance expenses | 2,285 | - | |||||||
Impact of state rate changes | - | 437 | |||||||
Nondeductible expenses | 10 | 18 | |||||||
Foreign taxes | 6 | (6 | ) | ||||||
Adjustments to Brazil deferred balances | (222 | ) | 429 | ||||||
Adjustments to U.S. deferred balances | 343 | (70 | ) | ||||||
Income tax benefit | $ | (1,935 | ) | $ | (345 | ) |
RELATED_PARTY_TRANSACTIONS_Tab
RELATED PARTY TRANSACTIONS (Tables) (10-K) | 12 Months Ended | ||||||||
Dec. 31, 2012 | |||||||||
RELATED PARTY TRANSACTIONS [Abstract] | ' | ||||||||
Schedule of transactional warrants under the terms of our financial advisor agreement with HC | ' | ||||||||
In connection with the issuance of convertible debt in 2012 we issued the transactional warrants listed below under the terms of our financial advisor agreement with HC. | |||||||||
Date of Warrants | Number of Shares Under Warrants | Exercise Price of Warrant | Expiration Date of Warrant | ||||||
(1) | |||||||||
Jan-12 | 1,250 | Exercisable immediately at $30.00 per share (2) | Jan-17 | ||||||
Jan-12 | 5,563 | Exercisable immediately at $20.00 per share (2) | Jan-17 | ||||||
May-12 | 63 | Exercisable immediately at $20.00 per share (2) | May-17 | ||||||
Jul-12 | 711 | Exercisable immediately at $14.00 per share | Jul-17 | ||||||
Aug-12 | 268 | Exercisable immediately at $14.00 per share | Aug-17 | ||||||
-1 | All of the transactional warrants contain full ratchet antidilution provisions and require the holders to provide us with at least 61 days notice prior to conversion or exercise to the extent the holder would have a beneficial ownership interest in our common stock in excess of 4.99% of our outstanding common stock immediately after conversion or exercise. | ||||||||
-2 | As a result of the July 31, 2012, issuances of convertible debt and related warrants, the exercise prices on these transactional warrants were reduced under the full ratchet antidilution provisions included in the transactional warrants, to $14.00 per share and the number of underlying shares increased to equal the number of original underlying shares times the initial exercise price divided by $14.00 per share. | ||||||||
Schedule of other transactions and balances with HC and Halpern Entities | ' | ||||||||
Other transactions with Mr. Halpern, HC and Halpern Entities are summarized below (in thousands): | |||||||||
2012 | 2011 | ||||||||
Success fees earned by HC under financial advisor agreement payable in cash | $ | 164 | $ | 26 | |||||
Proceeds received from Mr. Halpern and Halpern Entities upon issuance of convertible debt and related warrants | 213 | 1,739 | |||||||
Interest earned by Halpern Entities on convertible debt | 302 | 225 | |||||||
Payments to HC relevant to HC's class 6 general unsecured creditor claim | 256 | 754 |
SEGMENT_INFORMATION_Tables_10K
SEGMENT INFORMATION (Tables) (10-K) | 9 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||||
Sep. 30, 2013 | Dec. 31, 2012 | |||||||||||||||||||||||||||||||||
SEGMENT INFORMATION [Abstract] | ' | ' | ||||||||||||||||||||||||||||||||
Schedule of Segment Reporting Information, by Segment | ' | ' | ||||||||||||||||||||||||||||||||
The tables below present segment information for the periods identified and provide reconciliations of segment information to total consolidated information (in thousands). | The table below presents segment information for the years identified and provides a reconciliation of segment information to total consolidated information (in thousands). | |||||||||||||||||||||||||||||||||
Three Months Ended September 30, 2013 | Corporate | USA | Brazil | Consolidated | 2012 | |||||||||||||||||||||||||||||
Revenues | $ | - | $ | 3,065 | $ | 5,660 | $ | 8,725 | Corporate | USA | Brazil | Consolidated | ||||||||||||||||||||||
Cost of goods sold | - | 2,332 | 5,623 | 7,955 | ||||||||||||||||||||||||||||||
Gross profit | - | 733 | 37 | 770 | Revenues | $ | - | $ | 12,633 | $ | 25,090 | $ | 37,723 | |||||||||||||||||||||
Depreciation and amortization (in selling, general and administrative) | (6 | ) | (119 | ) | (177 | ) | (302 | ) | Cost of goods sold | - | 8,946 | 22,705 | 31,651 | |||||||||||||||||||||
Other operating expense | (1,292 | ) | (622 | ) | (1,218 | ) | (3,132 | ) | Gross profit | - | 3,687 | 2,385 | 6,072 | |||||||||||||||||||||
Loss from operations | $ | (1,298 | ) | $ | (8 | ) | $ | (1,358 | ) | $ | (2,664 | ) | Intersegment fees | 347 | - | (347 | ) | - | ||||||||||||||||
Depreciation and amortization (in selling, general and administrative) | (197 | ) | (1,006 | ) | (859 | ) | (2,062 | ) | ||||||||||||||||||||||||||
Net loss attributable to RiceBran Technologies shareholders | $ | (1,433 | ) | $ | (8 | ) | $ | (630 | ) | $ | (2,071 | ) | Impairment of property | - | (1,069 | ) | - | (1,069 | ) | |||||||||||||||
Interest expense | 666 | - | 418 | 1,084 | Other operating expenses | (4,768 | ) | (2,364 | ) | (4,496 | ) | (11,628 | ) | |||||||||||||||||||||
Depreciation (in cost of goods sold) | - | 207 | 468 | 675 | Loss from operations | $ | (4,618 | ) | $ | (752 | ) | $ | (3,317 | ) | $ | (8,687 | ) | |||||||||||||||||
Purchases of property | 6 | 19 | 1,026 | 1,051 | ||||||||||||||||||||||||||||||
Net loss attributable to RiceBran Technologies shareholders | $ | (7,046 | ) | $ | (770 | ) | $ | (1,693 | ) | $ | (9,509 | ) | ||||||||||||||||||||||
Nine Months Ended September 30, 2013 | Corporate | USA | Brazil | Consolidated | Interest expense | (743 | ) | (17 | ) | (1,166 | ) | (1,926 | ) | |||||||||||||||||||||
Revenues | $ | - | $ | 9,099 | $ | 17,723 | $ | 26,822 | Depreciation (in cost of goods sold) | - | (899 | ) | (1,651 | ) | (2,550 | ) | ||||||||||||||||||
Cost of goods sold | - | 6,895 | 16,913 | 23,808 | Purchases of property | 1 | 150 | 6,331 | 6,482 | |||||||||||||||||||||||||
Gross profit | - | 2,204 | 810 | 3,014 | Property, net, end of period | 36 | 8,731 | 19,690 | 28,457 | |||||||||||||||||||||||||
Depreciation and amortization (in selling, general and administrative) | (17 | ) | (358 | ) | (576 | ) | (951 | ) | Goodwill, end of period | - | - | 4,773 | 4,773 | |||||||||||||||||||||
Other operating expense | (3,627 | ) | (1,743 | ) | (3,404 | ) | (8,774 | ) | Intangible assets, net, end of period | - | 1,133 | 1,442 | 2,575 | |||||||||||||||||||||
Loss from operations | $ | (3,644 | ) | $ | 103 | $ | (3,170 | ) | $ | (6,711 | ) | Total assets, end of period | 3,201 | 11,609 | 32,196 | 47,006 | ||||||||||||||||||
Net income (loss) attributable to RiceBran Technologies shareholders | $ | (8,255 | ) | $ | 103 | $ | (1,699 | ) | $ | (9,851 | ) | |||||||||||||||||||||||
Interest expense | 1,541 | - | 1,338 | 2,879 | 2011 | |||||||||||||||||||||||||||||
Depreciation (in cost of goods sold) | - | 665 | 1,359 | 2,024 | Corporate | USA | Brazil | Consolidated | ||||||||||||||||||||||||||
Purchases of property | 12 | 147 | 2,142 | 2,301 | ||||||||||||||||||||||||||||||
Revenues | $ | - | $ | 10,700 | $ | 26,257 | $ | 36,957 | ||||||||||||||||||||||||||
Three Months Ended September 30, 2012 | Corporate | USA | Brazil | Consolidated | Cost of goods sold | - | 7,566 | 21,820 | 29,386 | |||||||||||||||||||||||||
Revenues | $ | - | $ | 3,065 | $ | 6,284 | $ | 9,349 | Gross profit | - | 3,134 | 4,437 | 7,571 | |||||||||||||||||||||
Cost of goods sold | - | 2,184 | 5,289 | 7,473 | Intersegment fees | (439 | ) | - | 439 | - | ||||||||||||||||||||||||
Gross profit | - | 881 | 995 | 1,876 | Depreciation and amortization (in selling, general and administrative) | (119 | ) | (1,306 | ) | (1,226 | ) | (2,651 | ) | |||||||||||||||||||||
Depreciation and amortization (in selling, general and administrative) | (175 | ) | (145 | ) | (201 | ) | (521 | ) | Impairment of intangibles and property | (240 | ) | (1,352 | ) | - | (1,592 | ) | ||||||||||||||||||
Intersegment fees | 57 | - | (57 | ) | - | Recoveries from former customers | - | 1,800 | - | 1,800 | ||||||||||||||||||||||||
Impairment of property | - | - | - | - | Other operating expenses | (5,556 | ) | (3,728 | ) | (5,428 | ) | (14,712 | ) | |||||||||||||||||||||
Other operating expense | (836 | ) | (662 | ) | (1,211 | ) | (2,709 | ) | Loss from operations | $ | (6,354 | ) | $ | (1,452 | ) | $ | (1,778 | ) | $ | (9,584 | ) | |||||||||||||
Loss from operations | $ | (954 | ) | $ | 74 | $ | (474 | ) | $ | (1,354 | ) | |||||||||||||||||||||||
Net loss attributable to RiceBran Technologies shareholders | $ | (6,875 | ) | $ | (1,631 | ) | $ | (1,593 | ) | $ | (10,099 | ) | ||||||||||||||||||||||
Net income (loss) attributable to RiceBran Technologies shareholders | $ | (220 | ) | $ | 73 | $ | (221 | ) | $ | (368 | ) | Interest expense | (619 | ) | (180 | ) | (964 | ) | (1,763 | ) | ||||||||||||||
Interest expense | 173 | - | 325 | 498 | Depreciation (in cost of goods sold) | - | (993 | ) | (1,336 | ) | (2,329 | ) | ||||||||||||||||||||||
Depreciation (in cost of goods sold) | - | 179 | 399 | 578 | Purchases of property | - | 98 | 6,769 | 6,867 | |||||||||||||||||||||||||
Purchases of property | - | 6 | 2,025 | 2,031 | Property, net, end of period | 263 | 11,899 | 15,833 | 27,995 | |||||||||||||||||||||||||
Goodwill, end of period | - | - | 5,240 | 5,240 | ||||||||||||||||||||||||||||||
Nine Months Ended September 30, 2012 | Corporate | USA | Brazil | Consolidated | Intangible assets, net, end of period | - | 1,612 | 2,316 | 3,928 | |||||||||||||||||||||||||
Revenues | $ | - | $ | 9,629 | $ | 19,177 | $ | 28,806 | Total assets, end of period | 4,672 | 14,219 | 33,341 | 52,232 | |||||||||||||||||||||
Cost of goods sold | - | 6,737 | 16,689 | 23,426 | ||||||||||||||||||||||||||||||
Gross profit | - | 2,892 | 2,488 | 5,380 | ||||||||||||||||||||||||||||||
Depreciation and amortization (in selling, general and administrative) | (246 | ) | (784 | ) | (661 | ) | (1,691 | ) | ||||||||||||||||||||||||||
Intersegment fees | 169 | - | (169 | ) | - | |||||||||||||||||||||||||||||
Impairment of property | - | (1,069 | ) | - | (1,069 | ) | ||||||||||||||||||||||||||||
Other operating expense | (3,559 | ) | (1,959 | ) | (3,711 | ) | (9,229 | ) | ||||||||||||||||||||||||||
Loss from operations | $ | (3,636 | ) | $ | (920 | ) | $ | (2,053 | ) | $ | (6,609 | ) | ||||||||||||||||||||||
Net loss attributable to RiceBran Technologies shareholders | $ | (7,229 | ) | $ | (937 | ) | $ | (1,232 | ) | $ | (9,398 | ) | ||||||||||||||||||||||
Interest expense | 494 | 17 | 792 | 1,303 | ||||||||||||||||||||||||||||||
Depreciation (in cost of goods sold) | - | 714 | 1,218 | 1,932 | ||||||||||||||||||||||||||||||
Purchases of property | - | 72 | 5,752 | 5,824 | ||||||||||||||||||||||||||||||
Revenue by Geographic Area | ' | ' | ||||||||||||||||||||||||||||||||
The following table presents revenue by geographic area for the three and nine months ended September 30, 2013 and 2012 (in thousands). | The following table presents revenues data by geographic area (in thousands): | |||||||||||||||||||||||||||||||||
Three Months | Nine Months | 2012 | 2011 | |||||||||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||||||||||||
United States | $ | 3,052 | $ | 2,685 | $ | 9,714 | $ | 8,501 | United States | $ | 16,177 | $ | 9,178 | |||||||||||||||||||||
Brazil | 4,048 | 4,626 | 13,845 | 14,397 | Brazil | 18,266 | 19,141 | |||||||||||||||||||||||||||
Other international | 1,625 | 2,038 | 3,263 | 5,908 | Other international | 3,280 | 8,638 | |||||||||||||||||||||||||||
Total revenues | $ | 8,725 | $ | 9,349 | $ | 26,822 | $ | 28,806 | Total revenues | $ | 37,723 | $ | 36,957 |
FAIR_VALUE_MEASUREMENT_Tables_
FAIR VALUE MEASUREMENT (Tables) (10-K) | 9 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||
Sep. 30, 2013 | Dec. 31, 2012 | |||||||||||||||||||||||||||||||||||||||||||||||||
FAIR VALUE MEASUREMENT [Abstract] | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||||||
Fair values by input hierarchy of items measured at fair value on a recurring basis | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||||||
The following tables summarize the fair values by input hierarchy of items measured at fair value on a recurring basis on our consolidated balance sheets (in thousands): | The following tables summarize the fair values by input hierarchy of items measured at fair value on a recurring basis on our consolidated balance sheets (in thousands): | |||||||||||||||||||||||||||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | Level 1 | Level 2 | Level 3 | Total | |||||||||||||||||||||||||||||||||||||||||||
30-Sep-13 | 31-Dec-12 | |||||||||||||||||||||||||||||||||||||||||||||||||
Derivative warrant liabilities | -1 | $ | - | $ | - | $ | (6,508 | ) | $ | (6,508 | ) | Derivative warrant liabilities | -1 | $ | - | $ | - | $ | (4,520 | ) | $ | (4,520 | ) | |||||||||||||||||||||||||||
Derivative conversion liabilities | -2 | - | - | (3,193 | ) | (3,193 | ) | Derivative conversion liabilities | -2 | - | - | (2,199 | ) | (2,199 | ) | |||||||||||||||||||||||||||||||||||
Total liabilities at fair value | $ | - | $ | - | $ | (9,701 | ) | $ | (9,701 | ) | Total liabilities at fair value | $ | - | $ | - | $ | (6,719 | ) | $ | (6,719 | ) | |||||||||||||||||||||||||||||
31-Dec-12 | 31-Dec-11 | |||||||||||||||||||||||||||||||||||||||||||||||||
Derivative warrant liabilities | -1 | $ | - | $ | - | $ | (4,520 | ) | $ | (4,520 | ) | Derivative warrant liabilities | -1 | $ | - | $ | - | $ | (1,296 | ) | $ | (1,296 | ) | |||||||||||||||||||||||||||
Derivative conversion liabilities | -2 | - | - | (2,199 | ) | (2,199 | ) | Total liabilities at fair value | $ | - | $ | - | $ | (1,296 | ) | $ | (1,296 | ) | ||||||||||||||||||||||||||||||||
Total liabilities at fair value | $ | - | $ | - | $ | (6,719 | ) | $ | (6,719 | ) | ||||||||||||||||||||||||||||||||||||||||
-1 | These warrants are valued using the lattice model each reporting period and the resultant change in fair value is recorded in the statements of operations. The lattice model requires us to assess the probability of future issuance of equity instruments at a price lower than the current exercise price of the warrants. The risk-free interest rate is determined by reference to the treasury yield curve rate of instruments with the same term as the warrant. Additional assumptions that were used to calculate fair value follow. | |||||||||||||||||||||||||||||||||||||||||||||||||
-1 | These warrants are valued using the lattice model each reporting period and the resultant change in fair value is recorded in the statements of operations. The lattice model requires us to assess the probability of future issuance of equity instruments at a price lower than the current exercise price of the warrants. The risk-free interest rate is determined by reference to the treasury yield curve rate of instruments with the same term as the warrant. Additional assumptions that were used to calculate fair value follow. | |||||||||||||||||||||||||||||||||||||||||||||||||
31-Dec-12 | 31-Dec-11 | |||||||||||||||||||||||||||||||||||||||||||||||||
30-Sep-13 | 31-Dec-12 | Risk-free interest rate | 0.1% - 0.7% | 0.1% - 0.8% | ||||||||||||||||||||||||||||||||||||||||||||||
Risk-free interest rate | 0.0% - 1.4% | 0.1% - 0.7% | (0.6% weighted average) | (0.2% weighted average) | ||||||||||||||||||||||||||||||||||||||||||||||
(1.0% weighted average) | (0.6% weighted average) | Expected volatility | 93% | 84% | ||||||||||||||||||||||||||||||||||||||||||||||
Expected volatility | 90% | 93% | ||||||||||||||||||||||||||||||||||||||||||||||||
-2 | These conversion liabilities are valued using a lattice model each reporting period and the resultant change in fair value is recorded in the statements of operations. The lattice model requires us to assess the probability of future issuance of equity instruments at a price lower than the current conversion price of the debt. The risk-free interest rate is determined by reference to the treasury yield curve rate of instruments with the same term as the underlying debt. Additional assumptions that were used to calculate fair value follow. | |||||||||||||||||||||||||||||||||||||||||||||||||
-2 | These conversion liabilities are valued using a lattice model each reporting period and the resultant change in fair value is recorded in the statements of operations. The lattice model requires us to assess the probability of future issuance of equity instruments at a price lower than the current conversion price of the debt. The risk-free interest rate is determined by reference to the treasury yield curve rate of instruments with the same term as the underlying debt. Additional assumptions that were used to calculate fair value follow. | |||||||||||||||||||||||||||||||||||||||||||||||||
31-Dec-12 | ||||||||||||||||||||||||||||||||||||||||||||||||||
30-Sep-13 | 31-Dec-12 | Risk-free interest rate | 0.2-0.3% | |||||||||||||||||||||||||||||||||||||||||||||||
Risk-free interest rate | 0.0-0.6% | 0.2-0.3% | (0.3% weighted average) | |||||||||||||||||||||||||||||||||||||||||||||||
(0.4% weighted average) | (0.3% weighted average) | Expected volatility | 93% | |||||||||||||||||||||||||||||||||||||||||||||||
Expected volatility | 90% | 93% | ||||||||||||||||||||||||||||||||||||||||||||||||
Additional assumptions used to calculate fair value | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||||||
-1 | These warrants are valued using the lattice model each reporting period and the resultant change in fair value is recorded in the statements of operations. The lattice model requires us to assess the probability of future issuance of equity instruments at a price lower than the current exercise price of the warrants. The risk-free interest rate is determined by reference to the treasury yield curve rate of instruments with the same term as the warrant. Additional assumptions that were used to calculate fair value follow. | -1 | These warrants are valued using the lattice model each reporting period and the resultant change in fair value is recorded in the statements of operations. The lattice model requires us to assess the probability of future issuance of equity instruments at a price lower than the current exercise price of the warrants. The risk-free interest rate is determined by reference to the treasury yield curve rate of instruments with the same term as the warrant. Additional assumptions that were used to calculate fair value follow. | |||||||||||||||||||||||||||||||||||||||||||||||
30-Sep-13 | 31-Dec-12 | 31-Dec-12 | 31-Dec-11 | |||||||||||||||||||||||||||||||||||||||||||||||
Risk-free interest rate | 0.0% - 1.4% | 0.1% - 0.7% | Risk-free interest rate | 0.1% - 0.7% | 0.1% - 0.8% | |||||||||||||||||||||||||||||||||||||||||||||
(1.0% weighted average) | (0.6% weighted average) | (0.6% weighted average) | (0.2% weighted average) | |||||||||||||||||||||||||||||||||||||||||||||||
Expected volatility | 90% | 93% | Expected volatility | 93% | 84% | |||||||||||||||||||||||||||||||||||||||||||||
-2 | These conversion liabilities are valued using a lattice model each reporting period and the resultant change in fair value is recorded in the statements of operations. The lattice model requires us to assess the probability of future issuance of equity instruments at a price lower than the current conversion price of the debt. The risk-free interest rate is determined by reference to the treasury yield curve rate of instruments with the same term as the underlying debt. Additional assumptions that were used to calculate fair value follow. | -2 | These conversion liabilities are valued using a lattice model each reporting period and the resultant change in fair value is recorded in the statements of operations. The lattice model requires us to assess the probability of future issuance of equity instruments at a price lower than the current conversion price of the debt. The risk-free interest rate is determined by reference to the treasury yield curve rate of instruments with the same term as the underlying debt. Additional assumptions that were used to calculate fair value follow. | |||||||||||||||||||||||||||||||||||||||||||||||
30-Sep-13 | 31-Dec-12 | 31-Dec-12 | ||||||||||||||||||||||||||||||||||||||||||||||||
Risk-free interest rate | 0.0-0.6% | 0.2-0.3% | Risk-free interest rate | 0.2-0.3% | ||||||||||||||||||||||||||||||||||||||||||||||
(0.4% weighted average) | (0.3% weighted average) | (0.3% weighted average) | ||||||||||||||||||||||||||||||||||||||||||||||||
Expected volatility | 90% | 93% | Expected volatility | 93% | ||||||||||||||||||||||||||||||||||||||||||||||
Changes in level 3 items measured at fair value | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||||||
The following tables summarize the changes in level 3 items measured at fair value on a recurring basis (in thousands): | The following tables summarize the changes in level 3 items measured at fair value on a recurring basis (in thousands): | |||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value as of Beginning of Period | Total Realized and Unrealized Gains (Losses) | Issuance of New Instruments | Net Transfers (Into) Out of Level 3 | Fair Value, at End of Period | Change in Unrealized Gains (Losses) on Instruments Still Held | Fair Value as of Beginning of Period | Total Realized and Unrealized Gains (Losses) | Issuance of New Instruments | Net Transfers (Into) Out of Level 3 | Fair Value, at End of Period | Change in Unrealized Gains (Losses) on Instruments Still Held | |||||||||||||||||||||||||||||||||||||||
-1 | 2012 | -1 | ||||||||||||||||||||||||||||||||||||||||||||||||
Nine Months Ended September 30, 2013 | Derivative warrant liability | $ | (1,296 | ) | $ | 3,048 | $ | (6,983 | ) | $ | 711 | (2) | $ | (4,520 | ) | $ | 3,320 | |||||||||||||||||||||||||||||||||
Derivative warrant liability | $ | (4,520 | ) | $ | (1,413 | ) | $ | (575 | ) | $ | - | $ | (6,508 | ) | $ | (1,413 | ) | Derivative conversion liability | - | 2,372 | (4,466 | ) | (105 | )(3) | (2,199 | ) | 2,372 | |||||||||||||||||||||||
Derivative conversion liability | (2,199 | ) | (505 | ) | (588 | ) | 99 | -2 | (3,193 | ) | (896 | ) | Total Level 3 fair value | $ | (1,296 | ) | $ | 5,420 | $ | (11,449 | ) | $ | 606 | $ | (6,719 | ) | $ | 5,692 | ||||||||||||||||||||||
Total Level 3 fair value | $ | (6,719 | ) | $ | (1,918 | ) | $ | (1,163 | ) | $ | 99 | $ | (9,701 | ) | $ | (2,309 | ) | |||||||||||||||||||||||||||||||||
2011 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Nine Months Ended September 30, 2012 | Derivative warrant liability | $ | (1,628 | ) | $ | 332 | $ | - | $ | - | $ | (1,296 | ) | $ | 332 | |||||||||||||||||||||||||||||||||||
Derivative warrant liability | $ | (1,296 | ) | $ | 1,142 | $ | (6,983 | ) | $ | 711 | -2 | $ | (6,426 | ) | $ | 1,414 | Total Level 3 fair value | $ | (1,628 | ) | $ | 332 | $ | - | $ | - | $ | (1,296 | ) | $ | 332 | |||||||||||||||||||
Derivative conversion liability | - | 2,866 | (4,466 | ) | (105 | ) | (1,705 | ) | 2,866 | |||||||||||||||||||||||||||||||||||||||||
Total Level 3 fair value | $ | (1,296 | ) | $ | 4,008 | $ | (11,449 | ) | $ | 606 | $ | (8,131 | ) | $ | 4,280 | -1 | Included in change in fair value of derivative warrant and conversion liabilities in our consolidated statements of operations. | |||||||||||||||||||||||||||||||||
-2 | Represents transfers to equity as a result of a holder exercising a warrant. | |||||||||||||||||||||||||||||||||||||||||||||||||
-1 | Included in change in fair value of derivative warrant and conversion liabilities in our consolidated statements of operations. | -3 | Represents an adjustment to loss on extinguishment as a result of issuing the replacement senior convertible debenture. | |||||||||||||||||||||||||||||||||||||||||||||||
-2 | Represents transfers to equity as a result of the exercise of a warrant in 2012 and conversion of debt in 2013. | |||||||||||||||||||||||||||||||||||||||||||||||||
Summary of fair values by input hierarchy measured at fair value on a nonrecurring basis | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||||||
The following tables summarize the fair values by input hierarchy of items measured at fair value in our balance sheets on a nonrecurring basis (in thousands). | The following tables summarize the fair values by input hierarchy of items measured at fair value in our balance sheets on a nonrecurring basis (in thousands): | |||||||||||||||||||||||||||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||||||||||||||||||||||||||||
As of September 30, 2013 | Impairment | As of December 31, 2012 | Impairment | |||||||||||||||||||||||||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | Losses | Level 1 | Level 2 | Level 3 | Total | Losses | |||||||||||||||||||||||||||||||||||||||||
(1 | ) | (1 | ) | |||||||||||||||||||||||||||||||||||||||||||||||
Property, net | -1 | $ | - | $ | - | $ | 394 | $ | 394 | $ | 300 | Property, net | -1 | $ | - | $ | - | $ | 1,058 | $ | 1,058 | $ | 1,069 | |||||||||||||||||||||||||||
Property, net | $ | - | $ | - | $ | 394 | $ | 394 | $ | 300 | Property, net | $ | - | $ | - | $ | 1,058 | $ | 1,058 | $ | 1,069 | |||||||||||||||||||||||||||||
2012 | -1 | During 2012, machinery and equipment not currently in use was evaluated for impairment and as a result was written down to estimated fair value. Fair value is an estimate of net realizable value comprised of an estimate of proceeds from sale, based on an internal evaluation of market conditions, less estimated costs to sell. The estimate of net realizable value is subject to change. | ||||||||||||||||||||||||||||||||||||||||||||||||
As of December 31, 2012 | Impairment | |||||||||||||||||||||||||||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | Losses | ||||||||||||||||||||||||||||||||||||||||||||||
(1 | ) | |||||||||||||||||||||||||||||||||||||||||||||||||
Property, net | -1 | $ | - | $ | - | $ | 1,058 | $ | 1,058 | $ | 1,069 | |||||||||||||||||||||||||||||||||||||||
Property, net | $ | - | $ | - | $ | 1,058 | $ | 1,058 | $ | 1,069 | ||||||||||||||||||||||||||||||||||||||||
-1 | Machinery and equipment not currently in use was evaluated for impairment and as a result was written down to estimated fair value in the first quarter of 2013 and the second quarter of 2012. Fair value is an estimate of net realizable value comprised of an estimate of proceeds from sale, based on an internal evaluation of market conditions, less estimated costs to sell. The estimate of net realizable value is subject to change. |
LOSS_PER_SHARE_EPS_Tables_10Q
LOSS PER SHARE (EPS) (Tables) (10-Q) | 9 Months Ended | 12 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2013 | Dec. 31, 2012 | |||||||||||||||||||||||||
LOSS PER SHARE (EPS) [Abstract] | ' | ' | ||||||||||||||||||||||||
Reconciliations of numerators and denominators in EPS computations | ' | ' | ||||||||||||||||||||||||
Below are reconciliations of the numerators and denominators in the EPS computations for the three and nine months ended September 30, 2013 and 2012. | Below are reconciliations of the numerators and denominators in the EPS computations. | |||||||||||||||||||||||||
Three Months | Nine Months | 2012 | 2011 | |||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | NUMERATOR (in thousands): | ||||||||||||||||||||||
NUMERATOR (in thousands): | Basic and diluted - net loss attributable to RiceBran Technologies shareholders | $ | (9,509 | ) | $ | (10,099 | ) | |||||||||||||||||||
Basic and diluted - net loss attributable to RiceBran Technologies shareholders | $ | (2,071 | ) | $ | (368 | ) | $ | (9,851 | ) | $ | (9,398 | ) | ||||||||||||||
DENOMINATOR: | ||||||||||||||||||||||||||
DENOMINATOR: | Basic EPS - weighted average number of shares outstanding | 1,023,412 | 991,852 | |||||||||||||||||||||||
Basic EPS - weighted average number of shares outstanding | 1,129,290 | 1,024,345 | 1,082,452 | 1,020,242 | Effect of dilutive securities outstanding | - | - | |||||||||||||||||||
Effect of dilutive securities outstanding | - | - | - | - | Diluted EPS - weighted average number of shares outstanding | 1,023,412 | 991,852 | |||||||||||||||||||
Diluted EPS - weighted average number of shares outstanding | 1,129,290 | 1,024,345 | 1,082,452 | 1,020,242 | ||||||||||||||||||||||
Number of shares of common stock which could be purchased with weighted average outstanding securities not included in diluted EPS because effect would be antidilutive- | ||||||||||||||||||||||||||
Number of shares of common stock which could be purchased with weighted average outstanding securities not included in diluted EPS because effect would be antidilutive- | Stock options (average exercise price of $48.00 and $58.00 ) | 191,187 | 197,879 | |||||||||||||||||||||||
Stock options (average exercise price for the three and nine months ended September 30, 2013, of $24.00 and $28.00) | 181,584 | 192,353 | 179,912 | 195,236 | Warrants (average exercise price of $62.00 and $226.00) | 736,753 | 214,765 | |||||||||||||||||||
Warrants (average exercise price for the three and nine months ended September 30, 2013, of $16.00 and $20.00) | 716,917 | 1,003,127 | 751,653 | 713,414 | Convertible notes (average conversion price of $16.00 and $42.00) | 334,709 | 25,800 | |||||||||||||||||||
Convertible debt (average conversion price for the three and nine months ended September 30, 2013, of $14.00) | 438,754 | 416,805 | 452,184 | 287,368 |
REDEEMABLE_NONCONTROLLING_INTE3
REDEEMABLE NONCONTROLLING INTEREST IN NUTRA SA (Tables) (10-Q) | 9 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||
Sep. 30, 2013 | Dec. 31, 2012 | |||||||||||||||||||||||||||||
REDEEMABLE NONCONTROLLING INTEREST IN NUTRA SA [Abstract] | ' | ' | ||||||||||||||||||||||||||||
Summary of the carrying amounts included in consolidated balance sheets | ' | ' | ||||||||||||||||||||||||||||
A summary of the carrying amounts of Nutra SA balances included in our consolidated balance sheets follows (in thousands). | A summary of the carrying amounts of Nutra SA balances included in our consolidated balance sheets follows (in thousands). | |||||||||||||||||||||||||||||
September 30, | December 31, | December 31, | ||||||||||||||||||||||||||||
2013 | 2012 | 2012 | 2011 | |||||||||||||||||||||||||||
Cash and cash equivalents | $ | 478 | $ | 562 | Cash and cash equivalents | $ | 562 | $ | 3,290 | |||||||||||||||||||||
Other current assets (restricted $2,154 and $2,505) | 4,370 | 5,675 | Other current assets (restricted $2,505 at December 31, 2012) | 5,675 | 6,641 | |||||||||||||||||||||||||
Property, net (restricted $5,231 and $5,757) | 18,319 | 19,690 | Property, net (restricted $5,757 at December 31, 2012) | 19,690 | 15,833 | |||||||||||||||||||||||||
Goodwill and intangibles, net | 5,185 | 6,215 | Goodwill and intangibles, net | 6,215 | 7,556 | |||||||||||||||||||||||||
Other noncurrent assets | 24 | 54 | Other noncurrent assets | 54 | 21 | |||||||||||||||||||||||||
Total assets | $ | 28,376 | $ | 32,196 | Total assets | $ | 32,196 | $ | 33,341 | |||||||||||||||||||||
Current liabilities | $ | 6,007 | $ | 5,141 | Current liabilities | $ | 5,141 | $ | 3,851 | |||||||||||||||||||||
Current portion of long-term debt (nonrecourse) | 7,679 | 7,013 | Current portion of long-term debt (nonrecourse $7,013 at December 31, 2012) | 7,013 | 5,469 | |||||||||||||||||||||||||
Long-term debt, less current portion (nonrecourse) | 7,126 | 7,454 | Long-term debt, less current portion (nonrecourse $7,454 at December 31, 2012) | 7,454 | 6,361 | |||||||||||||||||||||||||
Other noncurrent liabilities | 93 | 1,871 | Other noncurrent liabilities | 1,871 | 3,766 | |||||||||||||||||||||||||
Total liabilities | $ | 20,905 | $ | 21,479 | Total liabilities | $ | 21,479 | $ | 19,447 | |||||||||||||||||||||
Summary of changes in redeemable noncontrolling interest | ' | ' | ||||||||||||||||||||||||||||
A summary of changes in redeemable noncontrolling interest for the three and nine months ended September 30, 2013 and 2012, follows (in thousands). | A summary of changes in redeemable noncontrolling interest in Nutra SA follows (in thousands): | |||||||||||||||||||||||||||||
Three Months | Nine Months Ended | Investors' Ownership Interest After Transaction | 2012 | 2011 | ||||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | Redeemable noncontrolling interest in Nutra SA, beginning of period | $ | 9,918 | $ | - | ||||||||||||||||||||||
Redeemable noncontrolling interest in Nutra SA, beginning of period | $ | 7,836 | $ | 8,340 | $ | 9,262 | $ | 9,918 | Investors' purchase of initial units - first quarter 2011 | 35.6 | % | - | 7,725 | |||||||||||||||||
Investors' interest in net loss of Nutra SA | (605 | ) | (212 | ) | (1,633 | ) | (1,184 | ) | Investors' purchase of additional units - second quarter 2011 | 45.2 | % | - | 3,000 | |||||||||||||||||
Investors' interest in other comprehensive loss of Nutra SA | (43 | ) | 137 | (441 | ) | (469 | ) | Investors' purchase of additional units - third quarter 2011 | 49 | % | - | 900 | ||||||||||||||||||
Investors' purchase of additional units of Nutra SA | 300 | - | 300 | - | Investors' purchase of additional units - fourth quarter 2012 | 49 | % | 1,500 | - | |||||||||||||||||||||
Redeemable noncontrolling interest in Nutra SA, end of period | $ | 7,488 | $ | 8,265 | $ | 7,488 | $ | 8,265 | Investors' interest in net loss of Nutra SA | (1,627 | ) | (776 | ) | |||||||||||||||||
Investors' interest in accumulated other comprehensive income of Nutra SA | (529 | ) | (931 | ) | ||||||||||||||||||||||||||
Redeemable noncontrolling interest in Nutra SA, end of period | $ | 9,262 | $ | 9,918 |
INVENTORIES_Tables_10Q
INVENTORIES (Tables) (10-Q) | 9 Months Ended | 12 Months Ended | ||||||||||||||||
Sep. 30, 2013 | Dec. 31, 2012 | |||||||||||||||||
INVENTORIES [Abstract] | ' | ' | ||||||||||||||||
Inventories | ' | ' | ||||||||||||||||
Inventories are composed of the following (in thousands): | Inventories are composed of the following (in thousands): | |||||||||||||||||
September 30, | December 31, | As of December 31, | ||||||||||||||||
2013 | 2012 | 2012 | 2011 | |||||||||||||||
Finished goods | $ | 1,096 | $ | 1,146 | Finished goods | $ | 1,146 | $ | 906 | |||||||||
Work in process | 61 | 330 | Work in process | 330 | 804 | |||||||||||||
Raw materials | 170 | 255 | Raw materials | 255 | 353 | |||||||||||||
Packaging supplies | 233 | 263 | Packaging supplies | 263 | 234 | |||||||||||||
Total inventories | $ | 1,560 | $ | 1,994 | Total inventories | $ | 1,994 | $ | 2,297 |
PROPERTY_Tables_10Q
PROPERTY (Tables) (10-Q) | 9 Months Ended | 12 Months Ended | |||||||||||||||||
Sep. 30, 2013 | Dec. 31, 2012 | ||||||||||||||||||
PROPERTY [Abstract] | ' | ' | |||||||||||||||||
Property, plant and equipment | ' | ' | |||||||||||||||||
Property consisted of the following (in thousands): | Property consists of the following (in thousands): | ||||||||||||||||||
September 30, | December 31, | As of December 31, | |||||||||||||||||
2013 | 2012 | 2012 | 2011 | Estimated Useful Lives | |||||||||||||||
Land | $ | 389 | $ | 403 | Land | $ | 403 | $ | 420 | ||||||||||
Furniture and fixtures | 357 | 358 | Furniture and fixtures | 358 | 363 | 5-10 years | |||||||||||||
Plant | 14,964 | 14,362 | Plant | 14,362 | 14,122 | 25-30 years, or life of lease | |||||||||||||
Computer and software | 1,452 | 1,407 | Computer and software | 1,407 | 1,352 | 3-5 years | |||||||||||||
Leasehold improvements | 200 | 189 | Leasehold improvements | 189 | 189 | 3-7 years or life of lease | |||||||||||||
Machinery and equipment | 15,298 | 15,053 | Machinery and equipment | 15,053 | 17,249 | 5-10 years | |||||||||||||
Construction in progress | 7,098 | 9,118 | Construction in progress | 9,118 | 5,710 | ||||||||||||||
Property | 39,758 | 40,890 | Subtotal | 40,890 | 39,405 | ||||||||||||||
Less accumulated depreciation | 13,938 | 12,433 | Less accumulated depreciation | 12,433 | 11,410 | ||||||||||||||
Property, net | $ | 25,820 | $ | 28,457 | Property, net | $ | 28,457 | $ | 27,995 |
DEBT_Tables_10Q
DEBT (Tables) (10-Q) | 9 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||||||||
Sep. 30, 2013 | Dec. 31, 2012 | |||||||||||||||||||||||||||||||||||||
DEBT [Abstract] | ' | ' | ||||||||||||||||||||||||||||||||||||
Current and long-term debt | ' | ' | ||||||||||||||||||||||||||||||||||||
The following table summarizes current and long-term portions of debt (in thousands). | The following table summarizes current and long-term portions of debt (in thousands): | |||||||||||||||||||||||||||||||||||||
September 30, | December 31, | As of December 31, | ||||||||||||||||||||||||||||||||||||
2013 | 2012 | 2012 | 2011 | |||||||||||||||||||||||||||||||||||
Corporate segment: | Corporate and USA segments: | |||||||||||||||||||||||||||||||||||||
Senior convertible revolving note, net | $ | 1,608 | $ | - | Senior convertible debentures, net | $ | 1,048 | $ | - | |||||||||||||||||||||||||||||
Senior convertible debentures, net | 96 | 1,048 | Subordinated convertible notes, net | 4,041 | 2,126 | |||||||||||||||||||||||||||||||||
Subordinated convertible notes, net | 5,230 | 4,041 | Factoring agreement | 28 | 262 | |||||||||||||||||||||||||||||||||
Other | 38 | 28 | Other | - | 507 | |||||||||||||||||||||||||||||||||
6,972 | 5,117 | 5,117 | 2,895 | |||||||||||||||||||||||||||||||||||
Brazil segment: | Brazil segment: | |||||||||||||||||||||||||||||||||||||
Capital expansion loans | 5,021 | 5,555 | Working capital lines of credit | 2,227 | 1,778 | |||||||||||||||||||||||||||||||||
Equipment financing | 210 | 201 | Capital expansion loans | 5,555 | 3,789 | |||||||||||||||||||||||||||||||||
Working capital lines of credit | 3,767 | 2,227 | Equipment financing | 201 | 214 | |||||||||||||||||||||||||||||||||
Advances on export letters of credit | 3,189 | 3,953 | Advances on export letters of credit | 3,953 | 2,838 | |||||||||||||||||||||||||||||||||
Special tax programs | 2,618 | 2,531 | Special tax programs | 2,531 | 3,211 | |||||||||||||||||||||||||||||||||
14,805 | 14,467 | 14,467 | 11,830 | |||||||||||||||||||||||||||||||||||
Total debt | 21,777 | 19,584 | Total debt | 19,584 | 14,725 | |||||||||||||||||||||||||||||||||
Current portion | 9,422 | 8,003 | Current portion | 8,003 | 6,792 | |||||||||||||||||||||||||||||||||
Long-term portion | $ | 12,355 | $ | 11,581 | Long-term portion | $ | 11,581 | $ | 7,933 | |||||||||||||||||||||||||||||
Components of convertible debt | ' | ' | ||||||||||||||||||||||||||||||||||||
As of September 30, 2013, our convertible debt consists of the following components (in thousands): | As of December 31, 2012, our convertible debt consists of the following components (in thousands): | |||||||||||||||||||||||||||||||||||||
Senior | Subordinated | Notes | ||||||||||||||||||||||||||||||||||||
Convertible | Senior | Convertible Notes | Debentures | Halpern Entities | Other Investors | Total | ||||||||||||||||||||||||||||||||
Revolving | Convertible | Halpern | Other | Principal outstanding | $ | (1,299 | ) | $ | (2,600 | ) | $ | (2,775 | ) | $ | (6,674 | ) | ||||||||||||||||||||||
Note | Debentures | Entities | Investors | Total | Discount | 422 | 587 | 2,775 | 3,784 | |||||||||||||||||||||||||||||
Principal outstanding | $ | 1,558 | $ | 97 | $ | 2,600 | $ | 3,419 | $ | 7,674 | Derivative conversion liabilities | (171 | ) | (980 | ) | (1,048 | ) | (2,199 | ) | |||||||||||||||||||
Discount | (41 | ) | (3 | ) | (470 | ) | (3,419 | ) | (3,933 | ) | Debt | $ | (1,048 | ) | $ | (2,993 | ) | $ | (1,048 | ) | (5,089 | ) | ||||||||||||||||
Derivative conversion liabilities | 91 | 2 | 1,267 | 1,833 | 3,193 | |||||||||||||||||||||||||||||||||
Debt | $ | 1,608 | $ | 96 | $ | 3,397 | $ | 1,833 | $ | 6,934 | Debt - current portion | $ | (962 | ) | $ | - | $ | - | $ | (962 | ) | |||||||||||||||||
Debt - long-term portion | (86 | ) | (2,993 | ) | (1,048 | ) | (4,127 | ) | ||||||||||||||||||||||||||||||
Debt - current portion | $ | 1,608 | $ | 96 | $ | - | $ | - | $ | 1,704 | ||||||||||||||||||||||||||||
Debt - long-term portion | - | - | 3,397 | 1,833 | 5,230 | |||||||||||||||||||||||||||||||||
Convertible notes and debenture information | ' | ' | ||||||||||||||||||||||||||||||||||||
In the second quarter of 2013, we issued subordinated convertible notes and related warrants, which are described in the chart below. | Convertible debt instruments outstanding as of December 31, 2012, are listed below. | |||||||||||||||||||||||||||||||||||||
Issuance | Principal Amount of Notes (in thousands) | Creditor's Debt Conversion Right | Stated Annual Interest Rate on Debt | Maturity Date of Debt | Number of Shares Under Warrant | Exercise Price of Warrant | Expiration Date of Warrant | Issuance | Issuance Date of Debt | Principal Amount of Debt (in thousands) | Creditor's Debt Conversion Right | Stated Annual Interest Rate on Debt | Maturity Date of Debt | |||||||||||||||||||||||||
Senior Convertible Debentures | Jul-12 | $ | 1,299 | Convertible January 2013 at $14.00 per share | NA | Jan-14 | ||||||||||||||||||||||||||||||||
Subordinated Convertible Notes and Warrants | $ | 538 | Convertible immediately at $14.00 per share | 10 | % | July 2015 or | 38,400 | Exercisable immediately at $16.00 per share | July 2017 or May 2018 | Subordinated Convertible Note | Aug-12 | 150 | Convertible immediately at $14.00 per share | 10 | % | Jul-15 | ||||||||||||||||||||||
Jul-16 | Subordinated Convertible Notes | Jul-12 | 850 | Convertible immediately at $14.00 per share | 10 | % | Jul-15 | |||||||||||||||||||||||||||||||
Subordinated Convertible Note | May-12 | 50 | Convertible immediately at $14.00 per share | 10 | % | Jul-15 | ||||||||||||||||||||||||||||||||
Subordinated Convertible Notes | Jan-12 | 4,325 | Convertible immediately at $14.00 per share | 10 | % | Jul-15 | ||||||||||||||||||||||||||||||||
Increase in shares of common stock and warrants | ' | ' | ||||||||||||||||||||||||||||||||||||
As a consequence of the PIK Elections, in the second quarter of 2013, we issued 3,026 shares of common stock with a fair value of $0.2 million. In lieu of paying certain interest, we (i) increased the shares of common stock underlying the holders’ convertible notes and (ii) issued the holders warrants (PIK warrants) at an exercise price of $16.00 per share, and a May 2018 expiration, as described in the table below: | ||||||||||||||||||||||||||||||||||||||
Issuance | Second | Third | ||||||||||||||||||||||||||||||||||||
Quarter of 2013 | Quarter of 2013 | |||||||||||||||||||||||||||||||||||||
Increase in Shares of Common Stock Underlying PIK Warrant | 4,346 | 3,263 | ||||||||||||||||||||||||||||||||||||
Increase in Shares of Common Stock Underlying Notes | 4,346 | 3,263 | ||||||||||||||||||||||||||||||||||||
Increase in Note Principle Under PIK Election | $ | 60,842 | $ | 45,688 |
EQUITY_SHAREBASED_COMPENSATION1
EQUITY, SHARE-BASED COMPENSATION AND LIABILITY WARRANTS (Tables) (10-Q) | 9 Months Ended | 12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||
Sep. 30, 2013 | Dec. 31, 2012 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
EQUITY AND SHARE-BASED COMPENSATION [Abstract] | ' | ' | |||||||||||||||||||||||||||||||||||||||||||||||||||
Summary of equity activity | ' | ' | |||||||||||||||||||||||||||||||||||||||||||||||||||
A summary of equity activity for the nine months ended September 30, 2013, (in thousands, except share data) follows. | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Common Stock | Accumulated | Accumulated Other Comprehensive | Total | ||||||||||||||||||||||||||||||||||||||||||||||||||
Shares | Amount | Deficit | Loss | Equity | |||||||||||||||||||||||||||||||||||||||||||||||||
Balance, December 31, 2012 | 1,038,080 | $ | 210,396 | $ | (204,420 | ) | $ | (1,540 | ) | $ | 4,436 | ||||||||||||||||||||||||||||||||||||||||||
Share-based compensation, options | - | 380 | - | - | 380 | ||||||||||||||||||||||||||||||||||||||||||||||||
Conversion of senior subordinated debenture | 28,429 | 500 | - | - | 500 | ||||||||||||||||||||||||||||||||||||||||||||||||
Common stock issued for fees and services | 37,088 | 613 | - | - | 613 | ||||||||||||||||||||||||||||||||||||||||||||||||
Warrants issued for fees and services | - | 156 | - | - | 156 | ||||||||||||||||||||||||||||||||||||||||||||||||
Foreign currency translation | - | - | - | (458 | ) | (458 | ) | ||||||||||||||||||||||||||||||||||||||||||||||
Net loss | - | - | (9,851 | ) | - | (9,851 | ) | ||||||||||||||||||||||||||||||||||||||||||||||
Balance September 30, 2013 | 1,103,597 | $ | 212,045 | $ | (214,271 | ) | $ | (1,998 | ) | $ | (4,224 | ) | |||||||||||||||||||||||||||||||||||||||||
Summary of stock option and warrant activity | ' | ' | |||||||||||||||||||||||||||||||||||||||||||||||||||
A summary of stock option and warrant activity for the nine months ended September 30, 2013, follows. | A summary of stock option and warrant activity for 2012 and 2011 follows. | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Options | Equity and Liability Warrants | Options | Equity and Liability Warrants | ||||||||||||||||||||||||||||||||||||||||||||||||||
Shares Under Options | Weighted Average Exercise Price | Weighted Average Remaining Contractual Life (Years) | Shares Under Warrants | Weighted Average Exercise Price | Weighted Average Remaining Contractual Life (Years) | Shares Under Options | Weighted Average Exercise Price | Weighted Average Remaining Contractual Life (Years) | Shares Under Warrants | Weighted Average Exercise Price | Weighted Average Remaining Contractual Life (Years) | ||||||||||||||||||||||||||||||||||||||||||
Outstanding, December 31, 2012 | 169,254 | $ | 32 | 6.3 | 806,769 | $ | 24 | 3.5 | Outstanding, January 1, 2011 | 227,426 | $ | 60 | 6.8 | 202,148 | $ | 254 | 2.3 | ||||||||||||||||||||||||||||||||||||
Granted (1) | 37,500 | 16 | 54,581 | 16 | Granted | 26,022 | 44 | 25,794 | 46 | ||||||||||||||||||||||||||||||||||||||||||||
Impact of anti-dilution clauses | - | - | 2,082 | NA | Impact of anti-dilution clauses | - | NA | 31,517 | NA | ||||||||||||||||||||||||||||||||||||||||||||
Exercised | - | - | - | - | Exercised | - | NA | - | NA | ||||||||||||||||||||||||||||||||||||||||||||
Forfeited, expired or cancelled | (27,551 | ) | 54 | (146,106 | ) | 66 | Forfeited, expired or cancelled | (60,504 | ) | 72 | (25,512 | ) | 148 | ||||||||||||||||||||||||||||||||||||||||
Outstanding, September 30, 2013 | 179,203 | $ | 24.4 | 6.4 | 717,326 | $ | 16 | 3.6 | Outstanding, December 31, 2011 | 192,944 | 54 | 6.3 | 233,947 | 208 | 1.7 | ||||||||||||||||||||||||||||||||||||||
Exercisable, September 30, 2013 | 144,887 | $ | 26 | 5.9 | 717,326 | $ | 16 | 3.6 | Granted | 29,060 | 30 | 423,782 | 20 | ||||||||||||||||||||||||||||||||||||||||
Impact of anti-dilution clauses | - | NA | 518,720 | NA | |||||||||||||||||||||||||||||||||||||||||||||||||
-1 | Includes adjustments to shares underlying PIK warrants. | Impact of amendment | - | NA | 78,215 | NA | |||||||||||||||||||||||||||||||||||||||||||||||
Exercised | - | NA | (25,015 | ) | 20 | ||||||||||||||||||||||||||||||||||||||||||||||||
Forfeited, expired or cancelled | (52,750 | ) | 68 | (422,880 | ) | 86 | |||||||||||||||||||||||||||||||||||||||||||||||
Outstanding, December 31, 2012 | 169,254 | $ | 32 | 6.3 | 806,769 | $ | 24 | 3.5 | |||||||||||||||||||||||||||||||||||||||||||||
Exercisable, December 31, 2012 | 143,522 | $ | 34 | 5.9 | 713,969 | $ | 26 | 3.3 | |||||||||||||||||||||||||||||||||||||||||||||
Summary of information related to outstanding warrants | ' | ' | |||||||||||||||||||||||||||||||||||||||||||||||||||
The following table summarizes information related to outstanding warrants: | We have outstanding warrants classified as equity (equity warrants) and as warrant liability (liability warrants). | ||||||||||||||||||||||||||||||||||||||||||||||||||||
As of September 30, 2013 | As of December 31, 2012 | Equity Warrants | Liability Warrants | ||||||||||||||||||||||||||||||||||||||||||||||||||
Range of Exercise Prices | Type of Warrant | Shares Under Warrants | Weighted Average Exercise Price | Weighted Average Remaining Contractual Life (Years) | Shares Under Warrants | Weighted Average Exercise Price | Weighted Average Remaining Contractual Life (Years) | Shares Under Equity Warrants | Weighted Average Exercise Price | Weighted Average Remaining Contractual Life (Years) | Shares Under Liability Warrants | Weighted Average Exercise Price | Weighted Average Remaining Contractual Life (Years) | ||||||||||||||||||||||||||||||||||||||||
$ | 14.00-$16.00 | Liability (1) | 695,390 | $ | 16 | 3.6 | 656,990 | $ | 16 | 4.2 | Balance, January 1, 2011 | 2,727 | $ | 138 | 2.8 | 199,421 | $ | 256 | 2.3 | ||||||||||||||||||||||||||||||||||
$ | 16 | Liability (2) | 4,005 | 16 | 4.8 | - | - | - | Granted | 25,795 | 46 | - | |||||||||||||||||||||||||||||||||||||||||
$ | 16 | Equity | 12,176 | 16 | 4.7 | - | - | - | Impact of antidilution clauses | - | 31,516 | ||||||||||||||||||||||||||||||||||||||||||
$ | 46 | Equity | 3,029 | 46 | 3.2 | 3,029 | 46 | 3.9 | Exercised | - | - | ||||||||||||||||||||||||||||||||||||||||||
$ | 66 | Liability (1) | - | - | - | 144,023 | 66 | 0.3 | Forfeited, expired or cancelled | (11,150 | ) | 46 | (14,362 | ) | 226 | ||||||||||||||||||||||||||||||||||||||
$ | 138 | Equity | 2,727 | 138 | 0.1 | 2,727 | 138 | 0.8 | Balance, December 31, 2011 | 17,372 | 60 | 3.5 | 216,575 | 220 | 1.5 | ||||||||||||||||||||||||||||||||||||||
717,327 | $ | 16 | 3.6 | 806,769 | $ | 24 | 3.5 | Granted | - | - | 423,782 | 20 | |||||||||||||||||||||||||||||||||||||||||
Impact of antidilution clauses | - | - | 518,720 | NA | |||||||||||||||||||||||||||||||||||||||||||||||||
-1 | The warrant contain full ratchet anti-dilution provisions. | Impact of amendment | - | - | 78,215 | NA | |||||||||||||||||||||||||||||||||||||||||||||||
-2 | The warrants are classified as liability warrants because an indeterminate number of shares are issuable under the TCA debt agreement. | Exercised | - | - | (25,015 | ) | 20 | ||||||||||||||||||||||||||||||||||||||||||||||
Forfeited, expired or cancelled | (11,616 | ) | 44 | (411,264 | ) | 88 | |||||||||||||||||||||||||||||||||||||||||||||||
Outstanding, December 31, 2012 | 5,756 | $ | 90 | 2.4 | 801,013 | $ | 24 | $ | 3.5 | ||||||||||||||||||||||||||||||||||||||||||||
Exercisable, December 31, 2012 | 5,756 | $ | 90 | 2.4 | 708,213 | $ | 24 | $ | 3.3 |
SEGMENT_INFORMATION_Tables_10Q
SEGMENT INFORMATION (Tables) (10-Q) | 9 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||||
Sep. 30, 2013 | Dec. 31, 2012 | |||||||||||||||||||||||||||||||||
SEGMENT INFORMATION [Abstract] | ' | ' | ||||||||||||||||||||||||||||||||
Segment information identified and reconciliations of segment information to total consolidated information | ' | ' | ||||||||||||||||||||||||||||||||
The tables below present segment information for the periods identified and provide reconciliations of segment information to total consolidated information (in thousands). | The table below presents segment information for the years identified and provides a reconciliation of segment information to total consolidated information (in thousands). | |||||||||||||||||||||||||||||||||
Three Months Ended September 30, 2013 | Corporate | USA | Brazil | Consolidated | 2012 | |||||||||||||||||||||||||||||
Revenues | $ | - | $ | 3,065 | $ | 5,660 | $ | 8,725 | Corporate | USA | Brazil | Consolidated | ||||||||||||||||||||||
Cost of goods sold | - | 2,332 | 5,623 | 7,955 | ||||||||||||||||||||||||||||||
Gross profit | - | 733 | 37 | 770 | Revenues | $ | - | $ | 12,633 | $ | 25,090 | $ | 37,723 | |||||||||||||||||||||
Depreciation and amortization (in selling, general and administrative) | (6 | ) | (119 | ) | (177 | ) | (302 | ) | Cost of goods sold | - | 8,946 | 22,705 | 31,651 | |||||||||||||||||||||
Other operating expense | (1,292 | ) | (622 | ) | (1,218 | ) | (3,132 | ) | Gross profit | - | 3,687 | 2,385 | 6,072 | |||||||||||||||||||||
Loss from operations | $ | (1,298 | ) | $ | (8 | ) | $ | (1,358 | ) | $ | (2,664 | ) | Intersegment fees | 347 | - | (347 | ) | - | ||||||||||||||||
Depreciation and amortization (in selling, general and administrative) | (197 | ) | (1,006 | ) | (859 | ) | (2,062 | ) | ||||||||||||||||||||||||||
Net loss attributable to RiceBran Technologies shareholders | $ | (1,433 | ) | $ | (8 | ) | $ | (630 | ) | $ | (2,071 | ) | Impairment of property | - | (1,069 | ) | - | (1,069 | ) | |||||||||||||||
Interest expense | 666 | - | 418 | 1,084 | Other operating expenses | (4,768 | ) | (2,364 | ) | (4,496 | ) | (11,628 | ) | |||||||||||||||||||||
Depreciation (in cost of goods sold) | - | 207 | 468 | 675 | Loss from operations | $ | (4,618 | ) | $ | (752 | ) | $ | (3,317 | ) | $ | (8,687 | ) | |||||||||||||||||
Purchases of property | 6 | 19 | 1,026 | 1,051 | ||||||||||||||||||||||||||||||
Net loss attributable to RiceBran Technologies shareholders | $ | (7,046 | ) | $ | (770 | ) | $ | (1,693 | ) | $ | (9,509 | ) | ||||||||||||||||||||||
Nine Months Ended September 30, 2013 | Corporate | USA | Brazil | Consolidated | Interest expense | (743 | ) | (17 | ) | (1,166 | ) | (1,926 | ) | |||||||||||||||||||||
Revenues | $ | - | $ | 9,099 | $ | 17,723 | $ | 26,822 | Depreciation (in cost of goods sold) | - | (899 | ) | (1,651 | ) | (2,550 | ) | ||||||||||||||||||
Cost of goods sold | - | 6,895 | 16,913 | 23,808 | Purchases of property | 1 | 150 | 6,331 | 6,482 | |||||||||||||||||||||||||
Gross profit | - | 2,204 | 810 | 3,014 | Property, net, end of period | 36 | 8,731 | 19,690 | 28,457 | |||||||||||||||||||||||||
Depreciation and amortization (in selling, general and administrative) | (17 | ) | (358 | ) | (576 | ) | (951 | ) | Goodwill, end of period | - | - | 4,773 | 4,773 | |||||||||||||||||||||
Other operating expense | (3,627 | ) | (1,743 | ) | (3,404 | ) | (8,774 | ) | Intangible assets, net, end of period | - | 1,133 | 1,442 | 2,575 | |||||||||||||||||||||
Loss from operations | $ | (3,644 | ) | $ | 103 | $ | (3,170 | ) | $ | (6,711 | ) | Total assets, end of period | 3,201 | 11,609 | 32,196 | 47,006 | ||||||||||||||||||
Net income (loss) attributable to RiceBran Technologies shareholders | $ | (8,255 | ) | $ | 103 | $ | (1,699 | ) | $ | (9,851 | ) | |||||||||||||||||||||||
Interest expense | 1,541 | - | 1,338 | 2,879 | 2011 | |||||||||||||||||||||||||||||
Depreciation (in cost of goods sold) | - | 665 | 1,359 | 2,024 | Corporate | USA | Brazil | Consolidated | ||||||||||||||||||||||||||
Purchases of property | 12 | 147 | 2,142 | 2,301 | ||||||||||||||||||||||||||||||
Revenues | $ | - | $ | 10,700 | $ | 26,257 | $ | 36,957 | ||||||||||||||||||||||||||
Three Months Ended September 30, 2012 | Corporate | USA | Brazil | Consolidated | Cost of goods sold | - | 7,566 | 21,820 | 29,386 | |||||||||||||||||||||||||
Revenues | $ | - | $ | 3,065 | $ | 6,284 | $ | 9,349 | Gross profit | - | 3,134 | 4,437 | 7,571 | |||||||||||||||||||||
Cost of goods sold | - | 2,184 | 5,289 | 7,473 | Intersegment fees | (439 | ) | - | 439 | - | ||||||||||||||||||||||||
Gross profit | - | 881 | 995 | 1,876 | Depreciation and amortization (in selling, general and administrative) | (119 | ) | (1,306 | ) | (1,226 | ) | (2,651 | ) | |||||||||||||||||||||
Depreciation and amortization (in selling, general and administrative) | (175 | ) | (145 | ) | (201 | ) | (521 | ) | Impairment of intangibles and property | (240 | ) | (1,352 | ) | - | (1,592 | ) | ||||||||||||||||||
Intersegment fees | 57 | - | (57 | ) | - | Recoveries from former customers | - | 1,800 | - | 1,800 | ||||||||||||||||||||||||
Impairment of property | - | - | - | - | Other operating expenses | (5,556 | ) | (3,728 | ) | (5,428 | ) | (14,712 | ) | |||||||||||||||||||||
Other operating expense | (836 | ) | (662 | ) | (1,211 | ) | (2,709 | ) | Loss from operations | $ | (6,354 | ) | $ | (1,452 | ) | $ | (1,778 | ) | $ | (9,584 | ) | |||||||||||||
Loss from operations | $ | (954 | ) | $ | 74 | $ | (474 | ) | $ | (1,354 | ) | |||||||||||||||||||||||
Net loss attributable to RiceBran Technologies shareholders | $ | (6,875 | ) | $ | (1,631 | ) | $ | (1,593 | ) | $ | (10,099 | ) | ||||||||||||||||||||||
Net income (loss) attributable to RiceBran Technologies shareholders | $ | (220 | ) | $ | 73 | $ | (221 | ) | $ | (368 | ) | Interest expense | (619 | ) | (180 | ) | (964 | ) | (1,763 | ) | ||||||||||||||
Interest expense | 173 | - | 325 | 498 | Depreciation (in cost of goods sold) | - | (993 | ) | (1,336 | ) | (2,329 | ) | ||||||||||||||||||||||
Depreciation (in cost of goods sold) | - | 179 | 399 | 578 | Purchases of property | - | 98 | 6,769 | 6,867 | |||||||||||||||||||||||||
Purchases of property | - | 6 | 2,025 | 2,031 | Property, net, end of period | 263 | 11,899 | 15,833 | 27,995 | |||||||||||||||||||||||||
Goodwill, end of period | - | - | 5,240 | 5,240 | ||||||||||||||||||||||||||||||
Nine Months Ended September 30, 2012 | Corporate | USA | Brazil | Consolidated | Intangible assets, net, end of period | - | 1,612 | 2,316 | 3,928 | |||||||||||||||||||||||||
Revenues | $ | - | $ | 9,629 | $ | 19,177 | $ | 28,806 | Total assets, end of period | 4,672 | 14,219 | 33,341 | 52,232 | |||||||||||||||||||||
Cost of goods sold | - | 6,737 | 16,689 | 23,426 | ||||||||||||||||||||||||||||||
Gross profit | - | 2,892 | 2,488 | 5,380 | ||||||||||||||||||||||||||||||
Depreciation and amortization (in selling, general and administrative) | (246 | ) | (784 | ) | (661 | ) | (1,691 | ) | ||||||||||||||||||||||||||
Intersegment fees | 169 | - | (169 | ) | - | |||||||||||||||||||||||||||||
Impairment of property | - | (1,069 | ) | - | (1,069 | ) | ||||||||||||||||||||||||||||
Other operating expense | (3,559 | ) | (1,959 | ) | (3,711 | ) | (9,229 | ) | ||||||||||||||||||||||||||
Loss from operations | $ | (3,636 | ) | $ | (920 | ) | $ | (2,053 | ) | $ | (6,609 | ) | ||||||||||||||||||||||
Net loss attributable to RiceBran Technologies shareholders | $ | (7,229 | ) | $ | (937 | ) | $ | (1,232 | ) | $ | (9,398 | ) | ||||||||||||||||||||||
Interest expense | 494 | 17 | 792 | 1,303 | ||||||||||||||||||||||||||||||
Depreciation (in cost of goods sold) | - | 714 | 1,218 | 1,932 | ||||||||||||||||||||||||||||||
Purchases of property | - | 72 | 5,752 | 5,824 | ||||||||||||||||||||||||||||||
Segment information for selected balance sheet accounts | ' | ' | ||||||||||||||||||||||||||||||||
The tables below present segment information for selected balance sheet accounts (in thousands). | ||||||||||||||||||||||||||||||||||
Corporate | USA | Brazil | Consolidated | |||||||||||||||||||||||||||||||
As of September 30, 2013 | ||||||||||||||||||||||||||||||||||
Inventories | $ | - | $ | 885 | $ | 675 | $ | 1,560 | ||||||||||||||||||||||||||
Property, net | 59 | 7,442 | 18,319 | 25,820 | ||||||||||||||||||||||||||||||
Goodwill | - | - | 4,331 | 4,331 | ||||||||||||||||||||||||||||||
Intangible assets, net | - | 836 | 854 | 1,690 | ||||||||||||||||||||||||||||||
Total assets | 3,328 | 10,122 | 28,376 | 41,826 | ||||||||||||||||||||||||||||||
As of December 31, 2012 | ||||||||||||||||||||||||||||||||||
Inventories | - | 764 | 1,230 | 1,994 | ||||||||||||||||||||||||||||||
Property, net | 36 | 8,731 | 19,690 | 28,457 | ||||||||||||||||||||||||||||||
Goodwill | - | - | 4,773 | 4,773 | ||||||||||||||||||||||||||||||
Intangible assets, net | - | 1,133 | 1,442 | 2,575 | ||||||||||||||||||||||||||||||
Total assets | 3,201 | 11,609 | 32,196 | 47,006 | ||||||||||||||||||||||||||||||
Revenue by geographic area | ' | ' | ||||||||||||||||||||||||||||||||
The following table presents revenue by geographic area for the three and nine months ended September 30, 2013 and 2012 (in thousands). | The following table presents revenues data by geographic area (in thousands): | |||||||||||||||||||||||||||||||||
Three Months | Nine Months | 2012 | 2011 | |||||||||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||||||||||||
United States | $ | 3,052 | $ | 2,685 | $ | 9,714 | $ | 8,501 | United States | $ | 16,177 | $ | 9,178 | |||||||||||||||||||||
Brazil | 4,048 | 4,626 | 13,845 | 14,397 | Brazil | 18,266 | 19,141 | |||||||||||||||||||||||||||
Other international | 1,625 | 2,038 | 3,263 | 5,908 | Other international | 3,280 | 8,638 | |||||||||||||||||||||||||||
Total revenues | $ | 8,725 | $ | 9,349 | $ | 26,822 | $ | 28,806 | Total revenues | $ | 37,723 | $ | 36,957 |
FAIR_VALUE_MEASUREMENT_Tables_1
FAIR VALUE MEASUREMENT (Tables) (10-Q) | 9 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||
Sep. 30, 2013 | Dec. 31, 2012 | |||||||||||||||||||||||||||||||||||||||||||||||||
FAIR VALUE MEASUREMENT [Abstract] | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||||||
Fair values by input hierarchy of items measured at fair value on a recurring basis | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||||||
The following tables summarize the fair values by input hierarchy of items measured at fair value on a recurring basis on our consolidated balance sheets (in thousands): | The following tables summarize the fair values by input hierarchy of items measured at fair value on a recurring basis on our consolidated balance sheets (in thousands): | |||||||||||||||||||||||||||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | Level 1 | Level 2 | Level 3 | Total | |||||||||||||||||||||||||||||||||||||||||||
30-Sep-13 | 31-Dec-12 | |||||||||||||||||||||||||||||||||||||||||||||||||
Derivative warrant liabilities | -1 | $ | - | $ | - | $ | (6,508 | ) | $ | (6,508 | ) | Derivative warrant liabilities | -1 | $ | - | $ | - | $ | (4,520 | ) | $ | (4,520 | ) | |||||||||||||||||||||||||||
Derivative conversion liabilities | -2 | - | - | (3,193 | ) | (3,193 | ) | Derivative conversion liabilities | -2 | - | - | (2,199 | ) | (2,199 | ) | |||||||||||||||||||||||||||||||||||
Total liabilities at fair value | $ | - | $ | - | $ | (9,701 | ) | $ | (9,701 | ) | Total liabilities at fair value | $ | - | $ | - | $ | (6,719 | ) | $ | (6,719 | ) | |||||||||||||||||||||||||||||
31-Dec-12 | 31-Dec-11 | |||||||||||||||||||||||||||||||||||||||||||||||||
Derivative warrant liabilities | -1 | $ | - | $ | - | $ | (4,520 | ) | $ | (4,520 | ) | Derivative warrant liabilities | -1 | $ | - | $ | - | $ | (1,296 | ) | $ | (1,296 | ) | |||||||||||||||||||||||||||
Derivative conversion liabilities | -2 | - | - | (2,199 | ) | (2,199 | ) | Total liabilities at fair value | $ | - | $ | - | $ | (1,296 | ) | $ | (1,296 | ) | ||||||||||||||||||||||||||||||||
Total liabilities at fair value | $ | - | $ | - | $ | (6,719 | ) | $ | (6,719 | ) | ||||||||||||||||||||||||||||||||||||||||
-1 | These warrants are valued using the lattice model each reporting period and the resultant change in fair value is recorded in the statements of operations. The lattice model requires us to assess the probability of future issuance of equity instruments at a price lower than the current exercise price of the warrants. The risk-free interest rate is determined by reference to the treasury yield curve rate of instruments with the same term as the warrant. Additional assumptions that were used to calculate fair value follow. | |||||||||||||||||||||||||||||||||||||||||||||||||
-1 | These warrants are valued using the lattice model each reporting period and the resultant change in fair value is recorded in the statements of operations. The lattice model requires us to assess the probability of future issuance of equity instruments at a price lower than the current exercise price of the warrants. The risk-free interest rate is determined by reference to the treasury yield curve rate of instruments with the same term as the warrant. Additional assumptions that were used to calculate fair value follow. | |||||||||||||||||||||||||||||||||||||||||||||||||
31-Dec-12 | 31-Dec-11 | |||||||||||||||||||||||||||||||||||||||||||||||||
30-Sep-13 | 31-Dec-12 | Risk-free interest rate | 0.1% - 0.7% | 0.1% - 0.8% | ||||||||||||||||||||||||||||||||||||||||||||||
Risk-free interest rate | 0.0% - 1.4% | 0.1% - 0.7% | (0.6% weighted average) | (0.2% weighted average) | ||||||||||||||||||||||||||||||||||||||||||||||
(1.0% weighted average) | (0.6% weighted average) | Expected volatility | 93% | 84% | ||||||||||||||||||||||||||||||||||||||||||||||
Expected volatility | 90% | 93% | ||||||||||||||||||||||||||||||||||||||||||||||||
-2 | These conversion liabilities are valued using a lattice model each reporting period and the resultant change in fair value is recorded in the statements of operations. The lattice model requires us to assess the probability of future issuance of equity instruments at a price lower than the current conversion price of the debt. The risk-free interest rate is determined by reference to the treasury yield curve rate of instruments with the same term as the underlying debt. Additional assumptions that were used to calculate fair value follow. | |||||||||||||||||||||||||||||||||||||||||||||||||
-2 | These conversion liabilities are valued using a lattice model each reporting period and the resultant change in fair value is recorded in the statements of operations. The lattice model requires us to assess the probability of future issuance of equity instruments at a price lower than the current conversion price of the debt. The risk-free interest rate is determined by reference to the treasury yield curve rate of instruments with the same term as the underlying debt. Additional assumptions that were used to calculate fair value follow. | |||||||||||||||||||||||||||||||||||||||||||||||||
31-Dec-12 | ||||||||||||||||||||||||||||||||||||||||||||||||||
30-Sep-13 | 31-Dec-12 | Risk-free interest rate | 0.2-0.3% | |||||||||||||||||||||||||||||||||||||||||||||||
Risk-free interest rate | 0.0-0.6% | 0.2-0.3% | (0.3% weighted average) | |||||||||||||||||||||||||||||||||||||||||||||||
(0.4% weighted average) | (0.3% weighted average) | Expected volatility | 93% | |||||||||||||||||||||||||||||||||||||||||||||||
Expected volatility | 90% | 93% | ||||||||||||||||||||||||||||||||||||||||||||||||
Additional assumptions used to calculate fair value | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||||||
-1 | These warrants are valued using the lattice model each reporting period and the resultant change in fair value is recorded in the statements of operations. The lattice model requires us to assess the probability of future issuance of equity instruments at a price lower than the current exercise price of the warrants. The risk-free interest rate is determined by reference to the treasury yield curve rate of instruments with the same term as the warrant. Additional assumptions that were used to calculate fair value follow. | -1 | These warrants are valued using the lattice model each reporting period and the resultant change in fair value is recorded in the statements of operations. The lattice model requires us to assess the probability of future issuance of equity instruments at a price lower than the current exercise price of the warrants. The risk-free interest rate is determined by reference to the treasury yield curve rate of instruments with the same term as the warrant. Additional assumptions that were used to calculate fair value follow. | |||||||||||||||||||||||||||||||||||||||||||||||
30-Sep-13 | 31-Dec-12 | 31-Dec-12 | 31-Dec-11 | |||||||||||||||||||||||||||||||||||||||||||||||
Risk-free interest rate | 0.0% - 1.4% | 0.1% - 0.7% | Risk-free interest rate | 0.1% - 0.7% | 0.1% - 0.8% | |||||||||||||||||||||||||||||||||||||||||||||
(1.0% weighted average) | (0.6% weighted average) | (0.6% weighted average) | (0.2% weighted average) | |||||||||||||||||||||||||||||||||||||||||||||||
Expected volatility | 90% | 93% | Expected volatility | 93% | 84% | |||||||||||||||||||||||||||||||||||||||||||||
-2 | These conversion liabilities are valued using a lattice model each reporting period and the resultant change in fair value is recorded in the statements of operations. The lattice model requires us to assess the probability of future issuance of equity instruments at a price lower than the current conversion price of the debt. The risk-free interest rate is determined by reference to the treasury yield curve rate of instruments with the same term as the underlying debt. Additional assumptions that were used to calculate fair value follow. | -2 | These conversion liabilities are valued using a lattice model each reporting period and the resultant change in fair value is recorded in the statements of operations. The lattice model requires us to assess the probability of future issuance of equity instruments at a price lower than the current conversion price of the debt. The risk-free interest rate is determined by reference to the treasury yield curve rate of instruments with the same term as the underlying debt. Additional assumptions that were used to calculate fair value follow. | |||||||||||||||||||||||||||||||||||||||||||||||
30-Sep-13 | 31-Dec-12 | 31-Dec-12 | ||||||||||||||||||||||||||||||||||||||||||||||||
Risk-free interest rate | 0.0-0.6% | 0.2-0.3% | Risk-free interest rate | 0.2-0.3% | ||||||||||||||||||||||||||||||||||||||||||||||
(0.4% weighted average) | (0.3% weighted average) | (0.3% weighted average) | ||||||||||||||||||||||||||||||||||||||||||||||||
Expected volatility | 90% | 93% | Expected volatility | 93% | ||||||||||||||||||||||||||||||||||||||||||||||
Changes in level 3 items measured at fair value | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||||||
The following tables summarize the changes in level 3 items measured at fair value on a recurring basis (in thousands): | The following tables summarize the changes in level 3 items measured at fair value on a recurring basis (in thousands): | |||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value as of Beginning of Period | Total Realized and Unrealized Gains (Losses) | Issuance of New Instruments | Net Transfers (Into) Out of Level 3 | Fair Value, at End of Period | Change in Unrealized Gains (Losses) on Instruments Still Held | Fair Value as of Beginning of Period | Total Realized and Unrealized Gains (Losses) | Issuance of New Instruments | Net Transfers (Into) Out of Level 3 | Fair Value, at End of Period | Change in Unrealized Gains (Losses) on Instruments Still Held | |||||||||||||||||||||||||||||||||||||||
-1 | 2012 | -1 | ||||||||||||||||||||||||||||||||||||||||||||||||
Nine Months Ended September 30, 2013 | Derivative warrant liability | $ | (1,296 | ) | $ | 3,048 | $ | (6,983 | ) | $ | 711 | (2) | $ | (4,520 | ) | $ | 3,320 | |||||||||||||||||||||||||||||||||
Derivative warrant liability | $ | (4,520 | ) | $ | (1,413 | ) | $ | (575 | ) | $ | - | $ | (6,508 | ) | $ | (1,413 | ) | Derivative conversion liability | - | 2,372 | (4,466 | ) | (105 | )(3) | (2,199 | ) | 2,372 | |||||||||||||||||||||||
Derivative conversion liability | (2,199 | ) | (505 | ) | (588 | ) | 99 | -2 | (3,193 | ) | (896 | ) | Total Level 3 fair value | $ | (1,296 | ) | $ | 5,420 | $ | (11,449 | ) | $ | 606 | $ | (6,719 | ) | $ | 5,692 | ||||||||||||||||||||||
Total Level 3 fair value | $ | (6,719 | ) | $ | (1,918 | ) | $ | (1,163 | ) | $ | 99 | $ | (9,701 | ) | $ | (2,309 | ) | |||||||||||||||||||||||||||||||||
2011 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Nine Months Ended September 30, 2012 | Derivative warrant liability | $ | (1,628 | ) | $ | 332 | $ | - | $ | - | $ | (1,296 | ) | $ | 332 | |||||||||||||||||||||||||||||||||||
Derivative warrant liability | $ | (1,296 | ) | $ | 1,142 | $ | (6,983 | ) | $ | 711 | -2 | $ | (6,426 | ) | $ | 1,414 | Total Level 3 fair value | $ | (1,628 | ) | $ | 332 | $ | - | $ | - | $ | (1,296 | ) | $ | 332 | |||||||||||||||||||
Derivative conversion liability | - | 2,866 | (4,466 | ) | (105 | ) | (1,705 | ) | 2,866 | |||||||||||||||||||||||||||||||||||||||||
Total Level 3 fair value | $ | (1,296 | ) | $ | 4,008 | $ | (11,449 | ) | $ | 606 | $ | (8,131 | ) | $ | 4,280 | -1 | Included in change in fair value of derivative warrant and conversion liabilities in our consolidated statements of operations. | |||||||||||||||||||||||||||||||||
-2 | Represents transfers to equity as a result of a holder exercising a warrant. | |||||||||||||||||||||||||||||||||||||||||||||||||
-1 | Included in change in fair value of derivative warrant and conversion liabilities in our consolidated statements of operations. | -3 | Represents an adjustment to loss on extinguishment as a result of issuing the replacement senior convertible debenture. | |||||||||||||||||||||||||||||||||||||||||||||||
-2 | Represents transfers to equity as a result of the exercise of a warrant in 2012 and conversion of debt in 2013. | |||||||||||||||||||||||||||||||||||||||||||||||||
Summary of fair values by input hierarchy measured at fair value on a nonrecurring basis | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||||||
The following tables summarize the fair values by input hierarchy of items measured at fair value in our balance sheets on a nonrecurring basis (in thousands). | The following tables summarize the fair values by input hierarchy of items measured at fair value in our balance sheets on a nonrecurring basis (in thousands): | |||||||||||||||||||||||||||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||||||||||||||||||||||||||||
As of September 30, 2013 | Impairment | As of December 31, 2012 | Impairment | |||||||||||||||||||||||||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | Losses | Level 1 | Level 2 | Level 3 | Total | Losses | |||||||||||||||||||||||||||||||||||||||||
(1 | ) | (1 | ) | |||||||||||||||||||||||||||||||||||||||||||||||
Property, net | -1 | $ | - | $ | - | $ | 394 | $ | 394 | $ | 300 | Property, net | -1 | $ | - | $ | - | $ | 1,058 | $ | 1,058 | $ | 1,069 | |||||||||||||||||||||||||||
Property, net | $ | - | $ | - | $ | 394 | $ | 394 | $ | 300 | Property, net | $ | - | $ | - | $ | 1,058 | $ | 1,058 | $ | 1,069 | |||||||||||||||||||||||||||||
2012 | -1 | During 2012, machinery and equipment not currently in use was evaluated for impairment and as a result was written down to estimated fair value. Fair value is an estimate of net realizable value comprised of an estimate of proceeds from sale, based on an internal evaluation of market conditions, less estimated costs to sell. The estimate of net realizable value is subject to change. | ||||||||||||||||||||||||||||||||||||||||||||||||
As of December 31, 2012 | Impairment | |||||||||||||||||||||||||||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | Losses | ||||||||||||||||||||||||||||||||||||||||||||||
(1 | ) | |||||||||||||||||||||||||||||||||||||||||||||||||
Property, net | -1 | $ | - | $ | - | $ | 1,058 | $ | 1,058 | $ | 1,069 | |||||||||||||||||||||||||||||||||||||||
Property, net | $ | - | $ | - | $ | 1,058 | $ | 1,058 | $ | 1,069 | ||||||||||||||||||||||||||||||||||||||||
-1 | Machinery and equipment not currently in use was evaluated for impairment and as a result was written down to estimated fair value in the first quarter of 2013 and the second quarter of 2012. Fair value is an estimate of net realizable value comprised of an estimate of proceeds from sale, based on an internal evaluation of market conditions, less estimated costs to sell. The estimate of net realizable value is subject to change. |
CHAPTER_11_REORGANIZATION_LIQU1
CHAPTER 11 REORGANIZATION, LIQUIDITY AND MANAGEMENT'S PLANS (Details) (10-K) (USD $) | 1 Months Ended | 12 Months Ended | |||
In Millions, unless otherwise specified | Jan. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2010 | Nov. 30, 2010 | Dec. 31, 2009 |
Chapter 11 Reorganization [Abstract] | ' | ' | ' | ' | ' |
Liabilities subject to compromise | ' | ' | ' | ' | $7 |
Interest rate (in hundredths) | ' | ' | 8.25% | 0.38% | ' |
Bankruptcy claims, amount paid to settle claims | $1.60 | $7 | ' | ' | ' |
Repayments to unsecured creditors, percentage of total claims (in hundredths) | ' | 100.00% | ' | ' | ' |
GENERAL_BUSINESS_Details_10K
GENERAL BUSINESS (Details) (10-K) | 9 Months Ended | 12 Months Ended |
Sep. 30, 2013 | Dec. 31, 2012 | |
Segment | Segment | |
GENERAL BUSINESS [Abstract] | ' | ' |
Number of reportable segments | 3 | 3 |
Revenue from Human Food Products [Member] | USA Segment Revenues [Member] | ' | ' |
Concentration Risk [Line Items] | ' | ' |
Concentration risk, percentage (in hundredths) | 55.00% | 50.00% |
Revenue from Animal Nutrition Products [Member] | USA Segment Revenues [Member] | ' | ' |
Concentration Risk [Line Items] | ' | ' |
Concentration risk, percentage (in hundredths) | 45.00% | 50.00% |
DRB Products [Member] | Brazil Segment Revenue [Member] | ' | ' |
Concentration Risk [Line Items] | ' | ' |
Concentration risk, percentage (in hundredths) | 60.00% | 54.00% |
RBO Products [Member] | Brazil Segment Revenue [Member] | ' | ' |
Concentration Risk [Line Items] | ' | ' |
Concentration risk, percentage (in hundredths) | 40.00% | 46.00% |
LOSS_PER_SHARE_EPS_Details_10K
LOSS PER SHARE (EPS) (Details) (10-K) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||||
In Thousands, except Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Jun. 30, 2011 |
NUMERATOR [Abstract] | ' | ' | ' | ' | ' | ' | ' |
Basic and diluted - net loss attributable to RiceBran Technologies shareholders | ($2,071) | ($368) | ($9,851) | ($9,398) | ($9,509) | ($10,099) | ' |
DENOMINATOR [Abstract] | ' | ' | ' | ' | ' | ' | ' |
Basic EPS - weighted average number of shares outstanding (in shares) | 1,129,290 | 1,024,345 | 1,082,452 | 1,020,242 | 1,023,412 | 991,852 | ' |
Effect of dilutive securities outstanding (in shares) | 0 | 0 | 0 | 0 | 0 | 0 | ' |
Diluted EPS - weighted average number of shares outstanding (in shares) | 1,129,290 | 1,024,345 | 1,082,452 | 1,020,242 | 1,023,412 | 991,852 | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Average exercise price of warrants (in dollars per share) | ' | ' | ' | ' | ' | ' | $46 |
Average conversion price of convertible debt (in dollars per share) | ' | ' | ' | ' | $0.08 | $0.21 | ' |
Stock Options [Member] | ' | ' | ' | ' | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Number of shares of common stock which could be purchased with weighted average outstanding securities not included in diluted EPS because effect would be antidilutive (in shares) | 181,584 | 192,353 | 179,912 | 195,236 | 191,187 | 197,879 | ' |
Average exercise price of options (in dollars per share) | ' | ' | ' | ' | $48 | $58 | ' |
Warrants [Member] | ' | ' | ' | ' | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Number of shares of common stock which could be purchased with weighted average outstanding securities not included in diluted EPS because effect would be antidilutive (in shares) | 716,917 | 1,003,127 | 751,653 | 713,414 | 736,753 | 214,765 | ' |
Average exercise price of warrants (in dollars per share) | ' | ' | ' | ' | $62 | $226 | ' |
Convertible Notes [Member] | ' | ' | ' | ' | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Number of shares of common stock which could be purchased with weighted average outstanding securities not included in diluted EPS because effect would be antidilutive (in shares) | 438,754 | 416,805 | 452,184 | 287,368 | 334,709 | 25,800 | ' |
Average conversion price of convertible debt (in dollars per share) | $14 | ' | $14 | ' | $16 | $42 | ' |
REDEEMABLE_NONCONTROLLING_INTE4
REDEEMABLE NONCONTROLLING INTEREST IN NUTRA SA (Details) (10-K) (USD $) | 12 Months Ended | 3 Months Ended | 9 Months Ended | 12 Months Ended | 1 Months Ended | 3 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | |||||||||||||||||||||||||
Dec. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2010 | Mar. 31, 2011 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Jan. 31, 2011 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2011 | Jun. 30, 2011 | Mar. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2011 | Jan. 31, 2011 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Dec. 31, 2011 | Sep. 30, 2011 | Jun. 30, 2011 | Mar. 31, 2011 | Jan. 31, 2011 | |
Nutra SA [Member] | Nutra SA [Member] | Nutra SA [Member] | Nutra SA [Member] | Nutra SA [Member] | Nutra SA [Member] | NutraCea [Member] | NutraCea [Member] | NutraCea [Member] | NutraCea [Member] | NutraCea [Member] | NutraCea [Member] | NutraCea [Member] | NutraCea [Member] | NutraCea [Member] | NutraCea [Member] | NutraCea [Member] | NutraCea [Member] | Investors [Member] | Investors [Member] | Investors [Member] | Investors [Member] | Investors [Member] | Investors [Member] | Investors [Member] | Investors [Member] | Investors [Member] | Investors [Member] | Investors [Member] | ||||||
Irgovel [Member] | Representative | Representative | Representative | Representative | Representative | Nutra SA [Member] | Nutra SA [Member] | Nutra SA [Member] | Nutra SA [Member] | Nutra SA [Member] | Nutra SA [Member] | Nutra SA [Member] | Nutra SA [Member] | |||||||||||||||||||||
Summary of carrying amounts included in consolidated balance sheets [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash and cash equivalents | $1,040,000 | $3,329,000 | $701,000 | $850,000 | $537,000 | ' | $478,000 | ' | $562,000 | $3,290,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Other current assets | 975,000 | 1,049,000 | 895,000 | ' | ' | ' | 4,370,000 | ' | 5,675,000 | 6,641,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Property, net (restricted $5,231 and $5,757) | 28,457,000 | 27,995,000 | 25,820,000 | ' | ' | ' | 18,319,000 | ' | 19,690,000 | 15,833,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Goodwill and intangibles, net | ' | ' | ' | ' | ' | ' | 5,185,000 | ' | 6,215,000 | 7,556,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Other noncurrent assets | 385,000 | 56,000 | 801,000 | ' | ' | ' | 24,000 | ' | 54,000 | 21,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total assets | 47,006,000 | 52,232,000 | 41,826,000 | ' | ' | ' | 28,376,000 | ' | 32,196,000 | 33,341,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Current liabilities | 15,533,000 | 15,604,000 | 19,208,000 | ' | ' | ' | 6,007,000 | ' | 5,141,000 | 3,851,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Current portion of long-term debt (nonrecourse) | 8,003,000 | 6,792,000 | 9,422,000 | ' | ' | ' | 7,679,000 | ' | 7,013,000 | 5,469,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long-term debt, less current portion variable interest entity nonrecourse | 11,581,000 | 7,933,000 | 12,355,000 | ' | ' | ' | 7,126,000 | ' | 7,454,000 | 6,361,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Other noncurrent liabilities | ' | ' | ' | ' | ' | ' | 93,000 | ' | 1,871,000 | 3,766,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total liabilities | 33,308,000 | 28,600,000 | 38,164,000 | ' | ' | ' | 20,905,000 | ' | 21,479,000 | 19,447,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Restricted portion of other current assets | ' | ' | ' | ' | ' | ' | 2,154,000 | ' | 2,505,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Variable interest entity restricted portion of property, net | ' | ' | ' | ' | ' | ' | 5,231,000 | ' | 5,757,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Nonrecourse portion of current maturities of long-term debt (variable interest entity) | ' | ' | ' | ' | ' | ' | ' | ' | 7,013,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Nonrecourse portion of long-term debt, less current portion variable interest entity nonrecourse | ' | ' | ' | ' | ' | ' | ' | ' | 7,454,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Summary of changes for redeemable noncontrolling interest [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Redeemable noncontrolling interest in Nutra SA, beginning of period | 9,918,000 | ' | 7,488,000 | ' | ' | ' | 9,262,000 | 9,918,000 | 9,918,000 | ' | ' | 0 | 7,836,000 | 8,265,000 | 8,340,000 | 9,918,000 | 9,918,000 | ' | ' | 0 | 0 | 9,918,000 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Investors' purchase of units | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,500,000 | 0 | 0 | 0 | 0 | 900,000 | 3,000,000 | 7,725,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Investors' interest in net loss of Nutra SA | ' | ' | ' | ' | ' | ' | -1,633,000 | -1,184,000 | ' | ' | ' | ' | -605,000 | ' | -212,000 | ' | ' | ' | ' | ' | ' | -1,627,000 | -776,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Investors' interest in accumulated other comprehensive income of Nutra SA | ' | ' | ' | ' | ' | ' | -441,000 | -469,000 | ' | ' | ' | ' | -43,000 | ' | 137,000 | ' | ' | ' | ' | ' | ' | -529,000 | -931,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Redeemable noncontrolling interest in Nutra SA, end of period | 9,262,000 | 9,918,000 | 7,488,000 | ' | ' | ' | 7,488,000 | 8,265,000 | 9,262,000 | 9,918,000 | ' | 0 | 7,488,000 | 9,262,000 | 8,265,000 | 8,340,000 | 9,918,000 | 9,918,000 | ' | ' | 0 | 9,262,000 | 9,918,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Ownership percentage of noncontrolling owner (in hundredths) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 49.70% | 49.00% | 49.00% | 49.00% | 49.00% | 45.20% | 35.60% | 35.60% |
Purchase price of the units | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7,700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Ownership percentage by parent (in hundredths) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100.00% | 64.40% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds from sale of membership interests in Nutra SA | 1,500,000 | 11,625,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,500,000 | 3,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds from sale invested for capital improvements and working capital needs | ' | ' | ' | ' | ' | 3,700,000 | ' | ' | ' | 1,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds from sale retained by Nutra SA for administrative expenses | ' | ' | ' | ' | ' | 500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds from sale for capital projects | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds from sale retained by parent to repay debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds from sale retained by parent for other purposes | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,800,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Gain (loss) on sale of stock | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Historical cost of equipment contributed | ' | ' | ' | ' | ' | ' | ' | ' | 300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Capital contributions | ' | ' | ' | ' | ' | ' | ' | ' | 1,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of days available to install equipment | ' | ' | ' | ' | ' | ' | ' | ' | '90 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Available units for purchase (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | 750,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Value of additional units | ' | ' | ' | ' | ' | ' | ' | ' | 1,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Yield rate if the conditions are satisfied | ' | ' | ' | ' | ' | ' | ' | ' | 4.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Yield rate if the conditions are not satisfied | ' | ' | ' | ' | ' | ' | ' | ' | 8.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Distributable cash terms | '(i) first, to the Investors in an amount equal to 2.3 times the Investors' capital contribution, less the aggregate amount of distributions paid to the Investors, (ii) second, to us in an amount equal to (i) two times the capital contributions made by us, less the aggregate amount of distributions paid to us; and (iii) third, to us and the Investors in proportion to our respective membership interests. | ' | ' | ' | ' | ' | '(i) first, to the Investors in an amount equal to an amount (Preference Multiple) times the Investorsb capital contributions, less the aggregate amount of distributions paid to the Investors, (ii) second, to us in an amount equal to two times the capital contributions made by us, less the aggregate amount of distributions paid to us; and (iii) third, to us and the Investors in proportion to our respective membership interests. | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Contributions to be made | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2 | ' | ' | 2.3 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of representatives in management committee | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3 | 3 | ' | ' | ' | ' | ' | ' | ' | 3 | ' | ' | 2 | 2 | ' | ' | ' | ' | ' | ' | ' | ' |
Number of representatives in management committee upon default | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2 | 2 | ' | ' | ' | ' | ' | ' | ' | 2 | ' | ' | 3 | 3 | ' | ' | ' | ' | ' | ' | ' | ' |
Terms of default | 'A Nutra SA business plan deviation, defined as the occurrence, in either 2012, 2013 or 2014, of a 20% unfavorable variation in two out of three of the following: (i) revenue, (ii) earnings before interest, taxes, depreciation and amortization (EBITDA) or (iii) debt,B7A Nutra SA EBITDA default, which is defined as the failure to achieve 85% of planned EBITDA for three consecutive quarters, orB7A material problem, which is defined as a material problem in a facility (unrelated to changes in law, weather, etc.) likely to cause a Nutra SA business plan deviation or Nutra SA EBITDA default, which results in damages not at least 80% covered by insurance proceeds. | ' | ' | ' | ' | ' | 'A Nutra SA business plan deviation, defined as the occurrence, for either 2013 or 2014, of a 20% unfavorable variation in two out of three of the following: (i) revenue, (ii) earnings before interest, taxes, depreciation and amortization (EBITDA) or (iii) debt, A Nutra SA EBITDA default, which is defined as the failure to achieve 85% of planned EBITDA for three consecutive quarters, or A material problem, which is defined as a material problem in a facility (unrelated to changes in law, weather, etc.) likely to cause a Nutra SA business plan deviation or Nutra SA EBITDA default, which results in damages not at least 80% covered by insurance proceeds. | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Terms of qualifying event | 'Any event prior to September 16, 2014, which results, or will result in, (i) a person or group of persons exercising the right to appoint members to our board of directors holding one third or more of the votes of all board members, (ii) the sale, exchange, pledge or use as guarantee of one half of our ownership interest in Nutra SA to a third party or (iii) the bankruptcy of RiceBran Technologies or Nutra SA. | ' | ' | ' | ' | ' | 'Any event prior to September 16, 2014, which results, or will result in, (i) a person or group of persons exercising the right to appoint members to our board of directors holding one third or more of the votes of all board members, (ii) the sale, exchange, pledge or use as guarantee of one half or more of our ownership interest in Nutra SA to a third party or (iii) the bankruptcy of RiceBran Technologies or Nutra SA. | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Threshold percentage of unfavorable variance for default calculation (in hundredths) | ' | ' | ' | ' | ' | ' | 80.00% | ' | 20.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Threshold percentage of planned EBITDA for default calculation (in hundredths) | ' | ' | ' | ' | ' | ' | 20.00% | ' | 85.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Threshold percentage of damages not covered by insurance proceeds for a material problem, minimum (in hundredths) | ' | ' | ' | ' | ' | ' | 85.00% | ' | 80.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Maximum share ownership percentage (in hundredths) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 25.00% | 25.00% | ' | ' | ' | ' | ' | ' |
Drag Along Right termination amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $50,000,000 | $50,000,000 | ' | ' | ' | ' | ' | ' |
INVENTORIES_Details_10K
INVENTORIES (Details) (10-K) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
In Thousands, unless otherwise specified | |||
INVENTORIES [Abstract] | ' | ' | ' |
Finished goods | $1,096 | $1,146 | $906 |
Work in process | 61 | 330 | 804 |
Raw materials | 170 | 255 | 353 |
Packaging supplies | 233 | 263 | 234 |
Total inventories | $1,560 | $1,994 | $2,297 |
CONCENTRATION_OF_CREDIT_RISK_D
CONCENTRATION OF CREDIT RISK (Details) (10-K) (Customer Concentration Risk [Member]) | 12 Months Ended | |
Dec. 31, 2012 | Dec. 31, 2011 | |
One Customer [Member] | Revenue [Member] | ' | ' |
Concentration Risk [Line Items] | ' | ' |
Concentration risk, percentage (in hundredths) | 10.00% | 20.00% |
One Customer [Member] | Accounts Receivable [Member] | ' | ' |
Concentration Risk [Line Items] | ' | ' |
Concentration risk, percentage (in hundredths) | 9.00% | 16.00% |
Second customer [Member] | Revenue [Member] | ' | ' |
Concentration Risk [Line Items] | ' | ' |
Concentration risk, percentage (in hundredths) | 11.00% | 6.00% |
Second customer [Member] | Accounts Receivable [Member] | ' | ' |
Concentration Risk [Line Items] | ' | ' |
Concentration risk, percentage (in hundredths) | 30.00% | 14.00% |
Third customer [Member] | Revenue [Member] | ' | ' |
Concentration Risk [Line Items] | ' | ' |
Concentration risk, percentage (in hundredths) | 7.00% | 6.00% |
Third customer [Member] | Accounts Receivable [Member] | ' | ' |
Concentration Risk [Line Items] | ' | ' |
Concentration risk, percentage (in hundredths) | 9.00% | 5.00% |
PROPERTY_Details_10K
PROPERTY (Details) (10-K) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | |||||||||||||||||||||||||||||||||||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2009 | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |||
Lake Charles Facility [Member] | Lake Charles Facility [Member] | Lake Charles Facility [Member] | Land [Member] | Land [Member] | Land [Member] | Furniture and Fixtures [Member] | Furniture and Fixtures [Member] | Furniture and Fixtures [Member] | Furniture and Fixtures [Member] | Furniture and Fixtures [Member] | Plant [Member] | Plant [Member] | Plant [Member] | Plant [Member] | Plant [Member] | Computer and Software [Member] | Computer and Software [Member] | Computer and Software [Member] | Computer and Software [Member] | Computer and Software [Member] | Idled Facility [Member] | Leasehold Improvements [Member] | Leasehold Improvements [Member] | Leasehold Improvements [Member] | Leasehold Improvements [Member] | Leasehold Improvements [Member] | Machinery and Equipment [Member] | Machinery and Equipment [Member] | Machinery and Equipment [Member] | Machinery and Equipment [Member] | Machinery and Equipment [Member] | Construction in Progress [Member] | Construction in Progress [Member] | Construction in Progress [Member] | |||||||||
Minimum [Member] | Maximum [Member] | Minimum [Member] | Maximum [Member] | Minimum [Member] | Maximum [Member] | Lake Charles Facility [Member] | Minimum [Member] | Maximum [Member] | Minimum [Member] | Maximum [Member] | |||||||||||||||||||||||||||||||||
Property, Plant and Equipment [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Property, plant and equipment, gross | $39,758,000 | ' | $39,758,000 | ' | $40,890,000 | $39,405,000 | $3,800,000 | ' | ' | $389,000 | $403,000 | $420,000 | $357,000 | $358,000 | $363,000 | ' | ' | $14,964,000 | $14,362,000 | $14,122,000 | ' | ' | $1,452,000 | $1,407,000 | $1,352,000 | ' | ' | ' | $200,000 | $189,000 | $189,000 | ' | ' | $15,298,000 | $15,053,000 | $17,249,000 | ' | ' | $7,098,000 | $9,118,000 | $5,710,000 | ||
Less accumulated depreciation | 13,938,000 | ' | 13,938,000 | ' | 12,433,000 | 11,410,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Property, net | 25,820,000 | ' | 25,820,000 | ' | 28,457,000 | 27,995,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Estimated useful lives | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '5 years | '10 years | ' | ' | ' | '25 years | '30 years | ' | ' | ' | '3 years | '5 years | ' | ' | ' | ' | '3 years | '7 years | ' | ' | ' | '5 years | '10 years | ' | ' | ' | ||
Impairment of property, plant and equipment | 0 | 0 | 300,000 | [1] | 1,069,000 | 1,069,000 | [1] | 906,000 | 1,100,000 | 600,000 | 2,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net book value of idled facility | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Machinery and equipment not currently in use, net realizable value | ' | ' | ' | ' | ' | ' | $1,400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
[1] | Machinery and equipment not currently in use was evaluated for impairment and as a result was written down to estimated fair value in the first quarter of 2013 and the second quarter of 2012. Fair value is an estimate of net realizable value comprised of an estimate of proceeds from sale, based on an internal evaluation of market conditions, less estimated costs to sell. The estimate of net realizable value is subject to change. |
INTANGIBLE_ASSETS_Details_10K
INTANGIBLE ASSETS (Details) (10-K) (USD $) | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2011 |
Patents [Member] | Patents [Member] | Patents [Member] | Trademarks [Member] | Trademarks [Member] | Trademarks [Member] | Trademarks [Member] | Customer Lists [Member] | Customer Lists [Member] | Customer Lists [Member] | Customer Lists [Member] | |||
Corporate Segment [Member] | Corporate Segment [Member] | Corporate Segment [Member] | Corporate Segment [Member] | Brazil Segment [Member] | Brazil Segment [Member] | Corporate Segment [Member] | Corporate Segment [Member] | Brazil Segment [Member] | Brazil Segment [Member] | ||||
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cost | $9,090,000 | $9,616,000 | ' | $1,697,000 | $1,768,000 | $48,000 | $48,000 | $3,418,000 | $3,751,000 | $2,677,000 | $2,677,000 | $1,250,000 | $1,372,000 |
Accumulated amortization | -6,515,000 | -5,688,000 | ' | -1,029,000 | -957,000 | -38,000 | -35,000 | -2,362,000 | -2,056,000 | -2,222,000 | -1,888,000 | -864,000 | -752,000 |
Net book value | 2,575,000 | 3,928,000 | ' | 668,000 | 811,000 | 10,000 | 13,000 | 1,056,000 | 1,695,000 | 455,000 | 789,000 | 386,000 | 620,000 |
Estimated useful life | ' | ' | ' | '17 years | ' | '7 years | ' | '7 years | ' | '7 years | ' | '7 years | ' |
Future estimated amortization expense [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
2013 | 1,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
2014 | 1,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
2015 | 300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
2016 | 100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
2017 | 100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Thereafter | 100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Impairment and Sales [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Write-offs | ' | ' | $700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
DEBT_Details_10K
DEBT (Details) (10-K) | 3 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 9 Months Ended | 3 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 3 Months Ended | 6 Months Ended | 3 Months Ended | 1 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | 12 Months Ended | 3 Months Ended | 6 Months Ended | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2011 | Dec. 31, 2011 | Dec. 31, 2011 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2013 | Dec. 31, 2012 | Mar. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Jan. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2011 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Jun. 30, 2012 | Jun. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2012 | Jul. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Jul. 31, 2012 | ||||||
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USD ($) | USD ($) | Investor | USD ($) | USD ($) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Total debt | ' | $19,584,000 | $14,725,000 | $21,777,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | $5,117,000 | $2,895,000 | ' | $2,993,000 | $1,048,000 | $14,805,000 | $14,467,000 | $11,830,000 | ' | ' | ' | ' | ' | $1,048,000 | $0 | ' | ' | $1,608,000 | ' | ' | ' | ' | ' | ' | ' | ' | $4,041,000 | $2,126,000 | ' | $28,000 | $262,000 | $5,089,000 | $0 | $507,000 | ' | ' | $3,767,000 | $2,227,000 | $1,778,000 | ' | ' | ' | $5,555,000 | $5,021,000 | $3,789,000 | $201,000 | $210,000 | $214,000 | ' | ' | ' | $3,953,000 | $3,189,000 | $2,838,000 | ' | ' | ' | $2,618,000 | $2,531,000 | $3,211,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Current portion | ' | 8,003,000 | 6,792,000 | 9,422,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | 962,000 | ' | ' | ' | 1,608,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 962,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Long-term debt, less current portion (nonrecourse) | ' | 11,581,000 | 7,933,000 | 12,355,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,993,000 | 1,048,000 | ' | ' | ' | ' | ' | ' | ' | ' | 86,000 | ' | ' | ' | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,127,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Maturities of Long-term Debt [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
2013 | ' | 8,232,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,219,000 | ' | ' | ' | ' | ' | 7,013,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
2014 | ' | 1,391,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 108,000 | ' | ' | ' | ' | ' | 1,283,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
2015 | ' | 6,461,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5,375,000 | ' | ' | ' | ' | ' | 1,086,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
2016 | ' | 983,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' | ' | 983,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
2017 | ' | 976,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' | ' | 976,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Thereafter | ' | 3,126,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' | ' | 3,126,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Total debt | ' | 21,169,000 | ' | ' | ' | ' | ' | 500,000 | [1] | 730,000 | [2] | 270,000 | [2] | 730,000 | [2] | 2,323,000 | [3] | ' | 6,702,000 | ' | ' | 2,600,000 | 2,775,000 | ' | 14,467,000 | ' | ' | ' | ' | 1,299,000 | ' | 1,299,000 | ' | ' | ' | 1,558,000 | 850,000 | 150,000 | 50,000 | 4,325,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6,674,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 538,000 | ' | ' | ' | 2,500,000 | ' | 100,000 | ' | ' | ' | ' | ' | 1,900,000 | ' | 0 | ' | ' |
Issuance Date of Debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 31-Jul-12 | ' | ' | ' | ' | ' | ' | 31-Jul-12 | 31-Aug-12 | 31-May-12 | 31-Jan-12 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Principal Amount of Notes and Debenture | ' | 21,169,000 | ' | ' | ' | ' | ' | 500,000 | [1] | 730,000 | [2] | 270,000 | [2] | 730,000 | [2] | 2,323,000 | [3] | ' | 6,702,000 | ' | ' | 2,600,000 | 2,775,000 | ' | 14,467,000 | ' | ' | ' | ' | 1,299,000 | ' | 1,299,000 | ' | ' | ' | 1,558,000 | 850,000 | 150,000 | 50,000 | 4,325,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6,674,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 538,000 | ' | ' | ' | 2,500,000 | ' | 100,000 | ' | ' | ' | ' | ' | 1,900,000 | ' | 0 | ' | ' |
Creditor's Debt Conversion Right (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $14 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Stated annual interest rate (in hundredths) | ' | ' | ' | ' | ' | ' | ' | 10.00% | [1] | 10.00% | [2] | 10.00% | [2] | 10.00% | [2] | 10.00% | [3] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 12.40% | 44.50% | 23.30% | 6.50% | ' | 6.50% | ' | ' | ' | 13.50% | 21.50% | 16.20% | ' | ' | ' | 3.70% | 8.00% | 5.60% | ' | 7.30% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5.50% | ' |
Maturity date of debt | ' | ' | ' | ' | 31-Jul-15 | ' | 31-Jul-15 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 30-Jun-18 | ' | ' | ' | ' | ' | 31-Jan-14 | ' | ' | ' | ' | ' | ' | 31-Jul-15 | 31-Jul-15 | 31-Jul-15 | 31-Jul-15 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 31-May-14 | 31-May-14 | ' | ' | ' | ' | ' | ' | 31-Dec-21 | ' | ' | 31-Mar-16 | ' | ' | ' | ' | ' | 31-Jul-13 | ' | ' | ' | ' | ' | ' | ' | ' | 31-Dec-22 | 31-Dec-17 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 31-Jul-15 | 31-Jul-16 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 31-Jul-19 | ' | |||||
Face amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,400,000 | ' | 1,000,000 | 2,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Cash investment exchanged | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Maximum borrowing capacity | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,000,000 | 1,000,000 | ' | ' | ' | ' | 1,800,000 | 3,600,000 | ' | ' | ' | ' | ' | ' | 4,700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,800,000 | 6,700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Monthly minimum charge | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,000 | 2,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Factoring fee as a percentage of borrowing (in hundredths) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2.00% | 2.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Number of days outstanding before factoring fee percentage increases | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '45 days | '45 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Average outstanding borrowings | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100,000 | 100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Discount rate used for calculating fair value of convertible notes (in hundredths) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 25.00% | ' | ' | ' | ' | ' | |||||
Components of convertible debt [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Principal outstanding | ' | -21,169,000 | ' | ' | ' | ' | ' | -500,000 | [1] | -730,000 | [2] | -270,000 | [2] | -730,000 | [2] | -2,323,000 | [3] | ' | -6,702,000 | ' | ' | -2,600,000 | -2,775,000 | ' | -14,467,000 | ' | ' | ' | ' | -1,299,000 | ' | -1,299,000 | ' | ' | ' | -1,558,000 | -850,000 | -150,000 | -50,000 | -4,325,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | -6,674,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -538,000 | ' | ' | ' | -2,500,000 | ' | -100,000 | ' | ' | ' | ' | ' | -1,900,000 | ' | 0 | ' | ' |
Discount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 587,000 | 2,775,000 | ' | ' | ' | ' | ' | ' | ' | ' | 422,000 | ' | ' | ' | 41,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,784,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100,000 | ' | ' | ' | ' | ' | |||||
Derivative conversion liabilities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -91,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Debt | ' | -19,584,000 | -14,725,000 | -21,777,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | -5,117,000 | -2,895,000 | ' | -2,993,000 | -1,048,000 | -14,805,000 | -14,467,000 | -11,830,000 | ' | ' | ' | ' | ' | -1,048,000 | 0 | ' | ' | -1,608,000 | ' | ' | ' | ' | ' | ' | ' | ' | -4,041,000 | -2,126,000 | ' | -28,000 | -262,000 | -5,089,000 | 0 | -507,000 | ' | ' | -3,767,000 | -2,227,000 | -1,778,000 | ' | ' | ' | -5,555,000 | -5,021,000 | -3,789,000 | -201,000 | -210,000 | -214,000 | ' | ' | ' | -3,953,000 | -3,189,000 | -2,838,000 | ' | ' | ' | -2,618,000 | -2,531,000 | -3,211,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Debt - current portion | ' | -8,003,000 | -6,792,000 | -9,422,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | -962,000 | ' | ' | ' | -1,608,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -962,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Debt - long-term portion | ' | -11,581,000 | -7,933,000 | -12,355,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -2,993,000 | -1,048,000 | ' | ' | ' | ' | ' | ' | ' | ' | -86,000 | ' | ' | ' | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -4,127,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Convertible debt effective interest rate (in hundredths) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 25.10% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 20.90% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Number of investors | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
(Increases) decreases in [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Debt - principal | ' | -6,674,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -870,000 | -290,000 | -139,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -100,000 | -2,500,000 | -900,000 | -1,875,000 | ' | ' | ' | ' | ' | ' | |||||
Debt - discount | ' | 4,004,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 870,000 | 290,000 | -661,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100,000 | 630,000 | 900,000 | 1,875,000 | ' | ' | ' | ' | ' | ' | |||||
Debt - derivative conversion liabilities | ' | -4,571,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -296,000 | -128,000 | -105,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -69,000 | -1,942,000 | -583,000 | -1,448,000 | ' | ' | ' | ' | ' | ' | |||||
Derivative warrant liabilities | ' | -6,983,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -648,000 | -273,000 | -907,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -88,000 | -2,473,000 | -746,000 | -1,848,000 | ' | ' | ' | ' | ' | ' | |||||
Debt (carrying amount of old note) | ' | 2,152,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 2,152,000 | 0 | 0 | ' | ' | ' | ' | ' | ' | |||||
Equity | 1,089,000 | 1,089,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 1,089,000 | 0 | 0 | 500,000 | 500,000 | ' | ' | ' | ' | |||||
Loss on extinguishment | ' | 4,941,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 1,955,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 2,986,000 | 0 | 0 | ' | ' | ' | ' | ' | ' | |||||
Financing expense | ' | 2,184,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 168,000 | 141,000 | 27,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 59,000 | 0 | 413,000 | 1,376,000 | ' | ' | ' | ' | ' | ' | |||||
Other long-term assets - deferred finance costs | 295,000 | 295,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 144,000 | 23,000 | -148,000 | ' | ' | ' | ' | -100,000 | -100,000 | ' | ' | ' | ' | ' | ' | ' | 4,000 | 65,000 | 73,000 | 134,000 | ' | ' | ' | ' | ' | ' | |||||
Proceeds, net of finance costs | 3,563,000 | 3,563,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 632,000 | 632,000 | 237,000 | -22,000 | 200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 94,000 | -7,000 | 843,000 | 1,786,000 | 600,000 | ' | ' | ' | ' | ' | |||||
Convertibles notes and related warrants issued [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Principal outstanding | ' | 21,169,000 | ' | ' | ' | ' | ' | 500,000 | [1] | 730,000 | [2] | 270,000 | [2] | 730,000 | [2] | 2,323,000 | [3] | ' | 6,702,000 | ' | ' | 2,600,000 | 2,775,000 | ' | 14,467,000 | ' | ' | ' | ' | 1,299,000 | ' | 1,299,000 | ' | ' | ' | 1,558,000 | 850,000 | 150,000 | 50,000 | 4,325,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6,674,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 538,000 | ' | ' | ' | 2,500,000 | ' | 100,000 | ' | ' | ' | ' | ' | 1,900,000 | ' | 0 | ' | ' |
Stated annual interest rate (in hundredths) | ' | ' | ' | ' | ' | ' | ' | 10.00% | [1] | 10.00% | [2] | 10.00% | [2] | 10.00% | [2] | 10.00% | [3] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 12.40% | 44.50% | 23.30% | 6.50% | ' | 6.50% | ' | ' | ' | 13.50% | 21.50% | 16.20% | ' | ' | ' | 3.70% | 8.00% | 5.60% | ' | 7.30% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5.50% | ' |
Per share note conversion price (in dollars per share) | ' | $0.08 | $0.21 | ' | ' | ' | ' | $40 | [1] | $46 | [2] | $46 | [2] | $46 | [2] | $40 | [3] | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.07 | ' | $14 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash received in transaction | ' | ' | 2,280,000 | ' | ' | ' | ' | 500,000 | [1] | 230,000 | [2] | 270,000 | [2] | 730,000 | [2] | 550,000 | [3] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of shares under warrant (in shares) | ' | ' | 22,766 | ' | ' | ' | ' | 2,500 | [1] | 3,650 | [2] | 1,350 | [2] | 3,650 | [2] | 11,616 | [3] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 38,400 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Average Exercise Price of warrants (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | $50 | [1] | $46 | [2] | $46 | [2] | $46 | [2] | $44 | [3] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $24 | $16 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Equity | 1,089,000 | 1,089,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 1,089,000 | 0 | 0 | 500,000 | 500,000 | ' | ' | ' | ' | |||||
Other assets | -295,000 | -295,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -144,000 | -23,000 | 148,000 | ' | ' | ' | ' | 100,000 | 100,000 | ' | ' | ' | ' | ' | ' | ' | -4,000 | -65,000 | -73,000 | -134,000 | ' | ' | ' | ' | ' | ' | |||||
Accreted interest on notes | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 300,000 | 200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Principal payments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Required number of days notice prior to conversion or exercise | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '61 days | ' | ' | ' | |||||
Minimum beneficial ownership interest to be required to give notice prior to conversion or exercise (in hundredths) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4.99% | ' | ' | ' | |||||
Principal percentage due each month (in hundredths) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.0833 | 0.0833 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Monthly principal payment | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Debenture conversion price - factor (in hundredths) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 80.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Number of days used to calculate the weighted average stock price | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '20 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Maximum shares limit percentage (in hundredths) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 20.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Number of trading days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '20 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Fixed amount to subtract from weighted average price | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.01 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Contract value of old notes repaid | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,300,000 | ' | ' | ' | ' | ' | |||||
Proceeds from other debt | ' | 3,600,000 | ' | ' | ' | 2,400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 800,000 | ' | ' | ' | ' | ' | ' | ' | 1,800,000 | ' | 900,000 | ' | ' | ' | ' | ' | ' | 2,300,000 | ' | ' | ' | ' | |||||
Proceeds allocated for convertible debt and warrants | ' | 3,600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Discount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 587,000 | 2,775,000 | ' | ' | ' | ' | ' | ' | ' | ' | 422,000 | ' | ' | ' | 41,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,784,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100,000 | ' | ' | ' | ' | ' | |||||
Proceeds net of issuance costs | 3,563,000 | 3,563,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 632,000 | 632,000 | 237,000 | -22,000 | 200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 94,000 | -7,000 | 843,000 | 1,786,000 | 600,000 | ' | ' | ' | ' | ' | |||||
Debenture replacement description | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 'In the third quarter of 2012, this January 2012 debenture was exchanged for a July 2012 debenture with a stated principal amount of $1.0 million, representing the original principal amount plus interest which will accrue through the replacement debenture's January 2014 maturity. In July 2012, we also issued a new senior convertible debenture and related warrant and received $0.2 million in proceeds, net of financing costs. Each of the July 2012 debentures is convertible immediately at $0.07 per share. Commencing February 2013, we are required to redeem 1/12th of the $1.3 million combined principal each month until the January 2014 maturity date. In lieu of a cash redemption we may elect to redeem the debentures by issuing a number of shares of common stock equal to the monthly redemption amount divided by the lesser of (i) the current debenture conversion price or (ii) 80% of the 20-day volume weighted average trading price of our common stock or (iii) the volume weighted average trading price of our common stock on the day immediately prior to the redemption date less $0.01. The number of shares delivered may not exceed 20% of the number of shares traded in the 20-day trading period prior to payment. The debentures are secured by a senior interest in substantially all of our assets, excluding our interest in Nutra SA. Pursuant to the terms of the debentures, we may not pay any dividends while the debenture is outstanding. Under the terms of the original January 2012 debenture, we had been required to redeem 1/12th of the $0.9 million principal each month commencing August 2012 until the July 2013 maturity date. | ' | ' | |||||
Terms of conversion feature | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 'In May 2013, we entered into agreements to allow each holder of existing subordinated convertible notes and warrants to invest in additional notes and related warrants and provided that each holder making an additional investment (i) receive 0.0125 shares of our common stock for each dollar invested and (ii) agree to extend the maturity date for all of their notes to July 2016. Further, each holder of outstanding convertible notes could elect (PIK Election), in lieu of receiving cash interest payments otherwise payable though June 2014 on their existing convertible notes to receive (i) an increase in the number of shares of common stock underlying their notes (ii) an equity warrant to purchase shares of our common stock and (ii) 0.0125 shares of our common stock for each dollar of interest otherwise payable through June 2014. Holders making an additional investment were deemed under the agreement to have made a PIK Election. | '(i) the current debenture conversion price or (ii) 80% of the 20-day volume weighted average trading price of our common stock or (iii) the volume weighted average trading price of our common stock on the day immediately prior to the redemption date less $0.01. | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Gain loss recognized | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Amount borrowed | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 900,000 | 1,700,000 | |||||
Available for working capital | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $1,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Borrowing capacity, percentage of collateral, lower range limit (in hundredths) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 40.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Borrowing capacity, percentage of collateral, upper range limit (in hundredths) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
[1] | The convertible note and the related warrant issued in the first quarter of 2011, were terminated and cancelled in the second quarter of 2011 when the second quarter transaction occurred. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[2] | The convertible notes and related warrants issued in the second and third quarters of 2011, were terminated and cancelled in the fourth quarter of 2011 when the fourth quarter transaction occurred. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[3] | The convertible notes and related warrants issued in the fourth quarter of 2011, were terminated and cancelled in the first quarter of 2012, when a subordinated convertible note was issued to the Halpern Entities, as described further below. |
EQUITY_AND_SHAREBASED_COMPENSA2
EQUITY AND SHARE-BASED COMPENSATION (Details) (10-K) (USD $) | 1 Months Ended | 3 Months Ended | 0 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | 9 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 12 Months Ended | 1 Months Ended | 9 Months Ended | 12 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||
Oct. 31, 2013 | Jun. 30, 2011 | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Oct. 28, 2013 | Dec. 31, 2012 | Sep. 30, 2011 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2011 | Jun. 30, 2011 | Mar. 31, 2011 | Mar. 31, 2011 | Dec. 31, 2011 | Dec. 31, 2010 | Mar. 31, 2011 | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2012 | Jun. 30, 2011 | Jun. 30, 2011 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Apr. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Sep. 30, 2013 | Dec. 31, 2012 | Apr. 30, 2013 | Jan. 31, 2013 | Apr. 30, 2013 | Jan. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | |||
Subsequent Event [Member] | Retiring Director [Member] | Each Non-employee Director [Member] | Each Non-employee Director [Member] | Executive Officers [Member] | Executive Officers [Member] | Former Chief Financial Officer [Member] | Former Chief Financial Officer [Member] | Former Chief Executive Officer [Member] | Former Chief Executive Officer [Member] | Former Chief Executive Officer [Member] | Options [Member] | Options [Member] | Options [Member] | Options [Member] | Options [Member] | Options [Member] | Options [Member] | Options [Member] | Options [Member] | Options [Member] | Options [Member] | Options [Member] | Options [Member] | Options [Member] | Options [Member] | Warrants [Member] | Warrants [Member] | Warrants [Member] | Warrants [Member] | Warrants [Member] | Warrants [Member] | Warrants [Member] | Warrants [Member] | Warrants [Member] | Warrants [Member] | Warrants [Member] | 2010 Plan [Member] | 2010 Plan [Member] | 2010 Plan [Member] | 2010 Plan [Member] | 2010 Plan [Member] | 2010 Plan [Member] | 2005 Plan [Member] | Other Plans [Member] | ||||||||
Employee | Executive Officers [Member] | Former Chief Financial Officer [Member] | Former Chief Executive Officer [Member] | Employees and Directors [Member] | Employees and Directors [Member] | Consultants [Member] | Consultants [Member] | Current and Former Directors, Employees, and Consultants [Member] | Minimum [Member] | Maximum [Member] | Equity Warrant [Member] | Equity Warrant [Member] | Equity Warrant [Member] | Liability Warrant [Member] | Liability Warrant [Member] | Liability Warrant [Member] | Each Non-employee Director [Member] | Options [Member] | Options [Member] | Options [Member] | Options [Member] | Options [Member] | Options [Member] | Options [Member] | ||||||||||||||||||||||||||||
Employee | Executive Officers [Member] | Executive Officers [Member] | Each Non-employee Director [Member] | Each Non-employee Director [Member] | Maximum [Member] | Maximum [Member] | ||||||||||||||||||||||||||||||||||||||||||||||
Each Non-employee Director [Member] | Each Non-employee Director [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Share-based Compensation Arrangements by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Reverse stock split ratio | '200 to 1 | ' | ' | ' | ' | '1 for 200 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Shares of common stock issued (in shares) | ' | ' | ' | ' | ' | ' | ' | 6,036 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Shares Under Options, Outstanding [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Outstanding at beginning of period (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 227,426 | 169,254 | 192,944 | 227,426 | ' | ' | ' | ' | 180,494 | 218,808 | 12,450 | 8,618 | 17,077 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Granted (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10,584 | ' | ' | ' | ' | ' | ' | 37,500 | [1] | 29,060 | 26,022 | ' | ' | ' | ' | 28,060 | 22,022 | 1,000 | 4,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,750 | 1,250 | ' | ' | |
Impact of anti-dilution clauses (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Impact of amendment (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Exercised (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | ' | ' | ' | ' | 0 | 0 | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Forfeited, expired or cancelled (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -30,000 | -27,551 | -52,750 | -60,504 | ' | ' | -8,315 | ' | -50,250 | -60,336 | -2,500 | -168 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Outstanding at end of period (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 179,203 | 169,254 | 192,944 | 227,426 | ' | ' | ' | 158,304 | 180,494 | 10,950 | 12,450 | 17,077 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Exercisable at end of period (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 144,887 | 143,522 | 138,438 | ' | ' | ' | ' | 134,155 | 129,571 | 9,367 | 8,867 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Options, Weighted Average Exercise Price [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Outstanding at beginning of period (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $60 | $32 | $54 | $60 | ' | ' | ' | ' | $48 | $82 | $152 | $292 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Granted (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $40 | ' | ' | ' | ' | ' | ' | $16 | [1] | $30 | $44 | ' | ' | ' | ' | $26 | $42 | $16 | $62 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $16 | $16 | ' | ' | ' | ' | |
Forfeited, expired or cancelled (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $60 | $54 | $68 | $72 | ' | ' | $74 | ' | $58 | $68 | $266 | $2,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Outstanding at end of period (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $24.40 | $32 | $54 | $60 | ' | ' | ' | $26 | $48 | $106 | $152 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Exercisable at end of period (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $26 | $34 | ' | ' | ' | ' | ' | $28 | $52 | $112 | $190 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Options, Additional Disclosures [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Outstanding, weighted average remaining contractual life | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '1 year 7 months 6 days | ' | ' | ' | ' | ' | ' | '6 years 4 months 24 days | '6 years 3 months 18 days | '6 years 3 months 18 days | '6 years 9 months 18 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Exercisable, weighted average remaining contractual life | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '5 years 10 months 24 days | '5 years 10 months 24 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Shares Under Warrants [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Outstanding at beginning of period (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 806,769 | 233,947 | 202,148 | ' | 17,372 | 2,727 | ' | 216,575 | 199,421 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Granted (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 54,581 | [1] | 423,782 | 25,794 | ' | 0 | 25,795 | ' | 423,782 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Impact of anti-dilution clauses (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,082 | 518,720 | 31,517 | ' | 0 | 0 | ' | 518,720 | 31,516 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Impact of amendment (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 78,215 | ' | ' | 0 | ' | ' | 78,215 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Exercised (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | -25,015 | 0 | ' | 0 | 0 | ' | -25,015 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Forfeited, expired or cancelled (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -146,106 | -146,106 | -22,880 | -25,512 | ' | -11,616 | -11,150 | ' | -411,264 | -14,362 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Outstanding at end of period (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 717,326 | 806,769 | 233,947 | 202,148 | 5,756 | 17,372 | 2,727 | 801,013 | 216,575 | 199,421 | ' | ' | ' | ' | ' | ' | ' | ' | ||
Exercisable at end of period (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 717,326 | 713,969 | ' | ' | 5,756 | ' | ' | 708,213 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Equity and Liability Warrants Outstanding, Weighted Average Exercise Price [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Outstanding at beginning of period (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $24 | $208 | $54 | ' | $60 | $138 | ' | $220 | $256 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Granted (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $16 | [1] | $20 | $46 | ' | $0 | $46 | ' | $20 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Impact of anti-dilution clauses (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Impact of amendment (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Exercised (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0 | $20 | ' | ' | $0 | ' | ' | $20 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Forfeited, expired or cancelled (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $66 | $86 | $148 | ' | $44 | $46 | ' | $88 | $226 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Outstanding at end of period (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $16 | $24 | $208 | $54 | $90 | $60 | $138 | $24 | $220 | $256 | ' | ' | ' | ' | ' | ' | ' | ' | ||
Exercisable at end of period (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $16 | $26 | ' | ' | $90 | ' | ' | $24 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Equity and Liability Warrants, Additional Disclosures [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Outstanding, weighted average remaining contractual life | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '3 years 7 months 6 days | '3 years 6 months | '1 year 8 months 12 days | '2 years 3 months 18 days | '2 years 4 months 24 days | '3 years 6 months | '2 years 9 months 18 days | '3 years 6 months | '1 year 6 months | '2 years 3 months 18 days | ' | ' | ' | ' | ' | ' | ' | ' | ||
Exercisable, weighted average remaining contractual life | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '3 years 7 months 6 days | '3 years 3 months 18 days | ' | ' | '2 years 4 months 24 days | ' | ' | '3 years 3 months 18 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Status of Shares Reserved for Issuance [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Annual increase in number of reserved shares (in hundredths) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Terms of award, maximum (in years) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '10 | ' | ' | ' | ' | '10 | '10 | ||
Initially reserved (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 125,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,250 | ' | ' | ' | ' | ' | ' | ' | ||
Additionally reserved - annual increases (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 99,156 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Additionally reserved - board action (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 40,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Options granted since inception, net of forfeited, expired or cancelled (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -114,890 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Stock granted since inception (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -60,282 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Available for issuance under the 2010 Plan (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 88,984 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Fair Value Assumptions [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Fair value of options granted (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $20 | $38 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Volatility (in hundredths) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 109.20% | 101.50% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Risk free interest rate (in hundredths) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.90% | 0.80% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Expected life of options | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '6 years 1 month 6 days | '5 years 2 months 12 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Expected dividends | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0 | $0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Forfeiture rate (in hundredths) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5.00% | 5.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Shares issued (in shares) | ' | ' | ' | ' | ' | ' | 15,022 | ' | 6,090 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,263 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Vested shares surrendered for stock issued (in shares) | ' | ' | ' | ' | ' | ' | 23,710 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Fair value of stock options | ' | ' | ' | ' | ' | ' | 300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Fair value of stock issued | ' | 600,000 | ' | ' | ' | ' | 300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Exercised (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | $28 | ' | ' | ' | ' | ' | ' | ' | ' | $0 | ' | ' | ' | $24 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Grant date fair value of options equaled cash fees | ' | ' | ' | ' | ' | ' | ' | ' | 200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Options awarded, outstanding (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 179,203 | 169,254 | 192,944 | 227,426 | ' | ' | ' | 158,304 | 180,494 | 10,950 | 12,450 | 17,077 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Number of shares outstanding with lowered exercise price (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 108,588 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Options, exercise price (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $16 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Original average exercise price (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $38 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Share price (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $14 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Change in fair value of options | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Change in unrecognized compensation due to modification | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Number of executive officers receiving stock options in lieu of a portion of their compensation | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Percentage of compensation paid in stock options instead of in cash (in hundredths) | ' | ' | ' | ' | ' | ' | ' | ' | ' | 20.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 83.30% | 90.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Number of months of which a portion of salary was paid in stock options | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '6 months | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Cancelled shares and options - settlements with former officers (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 175 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 48 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Shares converted (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 25,016 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Shares issued (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7,764 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Amount transferred into fair value of the liability warrant | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Bankruptcy claim withdrawn | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Bonus returned | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Obligation paid | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Reduction of receivable and equity | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Due from related parties, current | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100,000 | 400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Allowance for doubtful accounts | ' | ' | $436,000 | $518,000 | $323,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Stock price on date of re-pricing (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $14 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
[1] | Includes adjustments to shares underlying PIK warrants. |
EQUITY_AND_SHAREBASED_COMPENSA3
EQUITY AND SHARE-BASED COMPENSATION, EMPLOYEE COMPENSATION AND PRICE RANGES (Details) (10-K) (USD $) | 9 Months Ended | 12 Months Ended | |||
In Thousands, except Share data, unless otherwise specified | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | ||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' | ||
Share-based compensation expense | ' | $923 | $907 | ||
Summary of information related to outstanding and exercisable warrants [Abstract] | ' | ' | ' | ||
Shares under warrants - outstanding (in shares) | 17,327 | 806,769 | ' | ||
Weighted average exercise price - outstanding (in dollars per share) | $16 | $24 | ' | ||
Remaining contractual life - outstanding | '3 years 7 months 6 days | '3 years 6 months | ' | ||
Shares under warrants - exercisable (in shares) | ' | 713,769 | ' | ||
Weighted average exercise price - exercisable (in dollars per share) | ' | $26 | ' | ||
Remaining contractual life - exercisable | ' | '3 years 3 months 18 days | ' | ||
$14.00-$16.00 [Member] | ' | ' | ' | ||
Summary of information related to outstanding and exercisable warrants [Abstract] | ' | ' | ' | ||
Exercise price range, lower range limit (in dollars per share) | ' | $14 | ' | ||
Exercise price range, upper range limit (in dollars per share) | ' | $16 | ' | ||
Shares under warrants - outstanding (in shares) | ' | 656,990 | ' | ||
Weighted average exercise price - outstanding (in dollars per share) | ' | $16 | ' | ||
Remaining contractual life - outstanding | ' | '4 years 2 months 12 days | ' | ||
Shares under warrants - exercisable (in shares) | ' | 564,190 | ' | ||
Weighted average exercise price - exercisable (in dollars per share) | ' | $16 | ' | ||
Remaining contractual life - exercisable | ' | '4 years 1 month 6 days | ' | ||
$46.00 [Member] | ' | ' | ' | ||
Summary of information related to outstanding and exercisable warrants [Abstract] | ' | ' | ' | ||
Exercise price range, upper range limit (in dollars per share) | ' | $46 | ' | ||
Shares under warrants - outstanding (in shares) | ' | 3,029 | ' | ||
Weighted average exercise price - outstanding (in dollars per share) | ' | $46 | ' | ||
Remaining contractual life - outstanding | ' | '3 years 10 months 24 days | ' | ||
Shares under warrants - exercisable (in shares) | ' | 3,029 | ' | ||
Weighted average exercise price - exercisable (in dollars per share) | ' | $46 | ' | ||
Remaining contractual life - exercisable | ' | '3 years 10 months 24 days | ' | ||
$66.00 [Member] | ' | ' | ' | ||
Summary of information related to outstanding and exercisable warrants [Abstract] | ' | ' | ' | ||
Exercise price range, upper range limit (in dollars per share) | ' | $66 | ' | ||
Shares under warrants - outstanding (in shares) | ' | 144,023 | ' | ||
Weighted average exercise price - outstanding (in dollars per share) | ' | $66 | ' | ||
Remaining contractual life - outstanding | ' | '0 years 3 months 18 days | ' | ||
Shares under warrants - exercisable (in shares) | ' | 144,023 | ' | ||
Weighted average exercise price - exercisable (in dollars per share) | ' | $66 | ' | ||
Remaining contractual life - exercisable | ' | '0 years 3 months 18 days | ' | ||
$138.00 [Member] | ' | ' | ' | ||
Summary of information related to outstanding and exercisable warrants [Abstract] | ' | ' | ' | ||
Exercise price range, upper range limit (in dollars per share) | ' | $138 | ' | ||
Shares under warrants - outstanding (in shares) | ' | 2,727 | ' | ||
Weighted average exercise price - outstanding (in dollars per share) | ' | $138 | ' | ||
Remaining contractual life - outstanding | ' | '0 years 9 months 18 days | ' | ||
Shares under warrants - exercisable (in shares) | ' | 2,727 | ' | ||
Weighted average exercise price - exercisable (in dollars per share) | ' | $138 | ' | ||
Remaining contractual life - exercisable | ' | '0 years 9 months 18 days | ' | ||
Equity Warrant [Member] | $16.00 [Member] | ' | ' | ' | ||
Summary of information related to outstanding and exercisable warrants [Abstract] | ' | ' | ' | ||
Exercise price range, upper range limit (in dollars per share) | $16 | ' | ' | ||
Shares under warrants - outstanding (in shares) | 12,176 | 0 | ' | ||
Weighted average exercise price - outstanding (in dollars per share) | $16 | $0 | ' | ||
Remaining contractual life - outstanding | '4 years 8 months 12 days | ' | ' | ||
Equity Warrant [Member] | $46.00 [Member] | ' | ' | ' | ||
Summary of information related to outstanding and exercisable warrants [Abstract] | ' | ' | ' | ||
Exercise price range, upper range limit (in dollars per share) | $46 | ' | ' | ||
Shares under warrants - outstanding (in shares) | 3,029 | 3,029 | ' | ||
Weighted average exercise price - outstanding (in dollars per share) | $46 | $46 | ' | ||
Remaining contractual life - outstanding | '3 years 2 months 12 days | '3 years 10 months 24 days | ' | ||
Equity Warrant [Member] | $138.00 [Member] | ' | ' | ' | ||
Summary of information related to outstanding and exercisable warrants [Abstract] | ' | ' | ' | ||
Exercise price range, upper range limit (in dollars per share) | $138 | ' | ' | ||
Shares under warrants - outstanding (in shares) | 2,727 | 2,727 | ' | ||
Weighted average exercise price - outstanding (in dollars per share) | $138 | $138 | ' | ||
Remaining contractual life - outstanding | '0 years 1 month 6 days | '0 years 9 months 18 days | ' | ||
Liability Warrant [Member] | $16.00 [Member] | ' | ' | ' | ||
Summary of information related to outstanding and exercisable warrants [Abstract] | ' | ' | ' | ||
Exercise price range, upper range limit (in dollars per share) | $16 | [1] | ' | ' | |
Shares under warrants - outstanding (in shares) | 4,005 | [1] | ' | ' | |
Weighted average exercise price - outstanding (in dollars per share) | $16 | [1] | ' | ' | |
Remaining contractual life - outstanding | '4 years 9 months 18 days | [1] | ' | ' | |
Liability Warrant [Member] | $14.00-$16.00 [Member] | ' | ' | ' | ||
Summary of information related to outstanding and exercisable warrants [Abstract] | ' | ' | ' | ||
Exercise price range, lower range limit (in dollars per share) | $14 | ' | ' | ||
Exercise price range, upper range limit (in dollars per share) | $16 | ' | ' | ||
Shares under warrants - outstanding (in shares) | 695,390 | [2] | 656,990 | [2] | ' |
Weighted average exercise price - outstanding (in dollars per share) | $16 | [2] | $16 | [2] | ' |
Remaining contractual life - outstanding | '3 years 7 months 6 days | [2] | '4 years 2 months 12 days | [2] | ' |
Liability Warrant [Member] | $66.00 [Member] | ' | ' | ' | ||
Summary of information related to outstanding and exercisable warrants [Abstract] | ' | ' | ' | ||
Exercise price range, upper range limit (in dollars per share) | $66 | [2] | ' | ' | |
Shares under warrants - outstanding (in shares) | 0 | [2] | 144,023 | [2] | ' |
Weighted average exercise price - outstanding (in dollars per share) | $0 | [2] | $66 | [2] | ' |
Remaining contractual life - outstanding | ' | '0 years 3 months 18 days | [2] | ' | |
$16.00 [Member] | ' | ' | ' | ||
Stock Option Plans, Exercise Price Range [Line Items] | ' | ' | ' | ||
Exercise price range, upper range limit (in dollars per share) | ' | $16 | ' | ||
Shares under options - outstanding (in shares) | ' | 110,212 | ' | ||
Weighted average exercise price - outstanding (in dollars per share) | ' | $16 | ' | ||
Remaining contractual life - outstanding | ' | '7 years | ' | ||
Shares under options - exercisable (in shares) | ' | 86,063 | ' | ||
Weighted average exercise price - exercisable (in dollars per share) | ' | $16 | ' | ||
Remaining contractual life - exercisable | ' | '6 years 8 months 12 days | ' | ||
$28.00 [Member] | ' | ' | ' | ||
Stock Option Plans, Exercise Price Range [Line Items] | ' | ' | ' | ||
Exercise price range, upper range limit (in dollars per share) | ' | $28 | ' | ||
Shares under options - outstanding (in shares) | ' | 3,540 | ' | ||
Weighted average exercise price - outstanding (in dollars per share) | ' | $28 | ' | ||
Remaining contractual life - outstanding | ' | '9 years 2 months 12 days | ' | ||
Shares under options - exercisable (in shares) | ' | 3,540 | ' | ||
Weighted average exercise price - exercisable (in dollars per share) | ' | $28 | ' | ||
Remaining contractual life - exercisable | ' | '9 years 2 months 12 days | ' | ||
$40.00 [Member] | ' | ' | ' | ||
Stock Option Plans, Exercise Price Range [Line Items] | ' | ' | ' | ||
Exercise price range, upper range limit (in dollars per share) | ' | $40 | ' | ||
Shares under options - outstanding (in shares) | ' | 34,064 | ' | ||
Weighted average exercise price - outstanding (in dollars per share) | ' | $40 | ' | ||
Remaining contractual life - outstanding | ' | '5 years 7 months 6 days | ' | ||
Shares under options - exercisable (in shares) | ' | 34,064 | ' | ||
Weighted average exercise price - exercisable (in dollars per share) | ' | $40 | ' | ||
Remaining contractual life - exercisable | ' | '5 years 7 months 6 days | ' | ||
$60.00 [Member] | ' | ' | ' | ||
Stock Option Plans, Exercise Price Range [Line Items] | ' | ' | ' | ||
Exercise price range, upper range limit (in dollars per share) | ' | $60 | ' | ||
Shares under options - outstanding (in shares) | ' | 15,000 | ' | ||
Weighted average exercise price - outstanding (in dollars per share) | ' | $60 | ' | ||
Remaining contractual life - outstanding | ' | '2 years | ' | ||
Shares under options - exercisable (in shares) | ' | 15,000 | ' | ||
Weighted average exercise price - exercisable (in dollars per share) | ' | $60 | ' | ||
Remaining contractual life - exercisable | ' | '2 years | ' | ||
$74.00 [Member] | ' | ' | ' | ||
Stock Option Plans, Exercise Price Range [Line Items] | ' | ' | ' | ||
Exercise price range, upper range limit (in dollars per share) | ' | $74 | ' | ||
Shares under options - outstanding (in shares) | ' | 3,438 | ' | ||
Weighted average exercise price - outstanding (in dollars per share) | ' | $74 | ' | ||
Remaining contractual life - outstanding | ' | '8 years 2 months 12 days | ' | ||
Shares under options - exercisable (in shares) | ' | 1,855 | ' | ||
Weighted average exercise price - exercisable (in dollars per share) | ' | $74 | ' | ||
Remaining contractual life - exercisable | ' | '8 years 2 months 12 days | ' | ||
$242.00 [Member] | ' | ' | ' | ||
Stock Option Plans, Exercise Price Range [Line Items] | ' | ' | ' | ||
Exercise price range, upper range limit (in dollars per share) | ' | $242 | ' | ||
Shares under options - outstanding (in shares) | ' | 500 | ' | ||
Weighted average exercise price - outstanding (in dollars per share) | ' | $242 | ' | ||
Remaining contractual life - outstanding | ' | '3 years | ' | ||
Shares under options - exercisable (in shares) | ' | 500 | ' | ||
Weighted average exercise price - exercisable (in dollars per share) | ' | $242 | ' | ||
Remaining contractual life - exercisable | ' | '3 years | ' | ||
$300.00 [Member] | ' | ' | ' | ||
Stock Option Plans, Exercise Price Range [Line Items] | ' | ' | ' | ||
Exercise price range, upper range limit (in dollars per share) | ' | $300 | ' | ||
Shares under options - outstanding (in shares) | ' | 2,500 | ' | ||
Weighted average exercise price - outstanding (in dollars per share) | ' | $300 | ' | ||
Remaining contractual life - outstanding | ' | '0 years 4 months 24 days | ' | ||
Shares under options - exercisable (in shares) | ' | 2,500 | ' | ||
Weighted average exercise price - exercisable (in dollars per share) | ' | $300 | ' | ||
Remaining contractual life - exercisable | ' | '0 years 4 months 24 days | ' | ||
$16.00 to $300.00 [Member] | ' | ' | ' | ||
Stock Option Plans, Exercise Price Range [Line Items] | ' | ' | ' | ||
Exercise price range, lower range limit (in dollars per share) | ' | $16 | ' | ||
Exercise price range, upper range limit (in dollars per share) | ' | $300 | ' | ||
Shares under options - outstanding (in shares) | ' | 169,254 | ' | ||
Weighted average exercise price - outstanding (in dollars per share) | ' | $32 | ' | ||
Remaining contractual life - outstanding | ' | '6 years 3 months 18 days | ' | ||
Shares under options - exercisable (in shares) | ' | 143,522 | ' | ||
Weighted average exercise price - exercisable (in dollars per share) | ' | $34 | ' | ||
Remaining contractual life - exercisable | ' | '5 years 10 months 24 days | ' | ||
Consultants [Member] | ' | ' | ' | ||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' | ||
Share-based compensation expense | ' | 42 | 14 | ||
Directors [Member] | ' | ' | ' | ||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' | ||
Share-based compensation expense | ' | 285 | 280 | ||
Employees [Member] | ' | ' | ' | ||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' | ||
Share-based compensation expense | ' | 152 | 112 | ||
Executive Officers [Member] | ' | ' | ' | ||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' | ||
Share-based compensation expense | ' | $444 | $501 | ||
[1] | The warrants are classified as liability warrants because an indeterminate number of shares are issuable under the TCA debt agreement. | ||||
[2] | The warrant contain full ratchet anti-dilution provisions. |
SETTLEMENT_WITH_HERBAL_SCIENCE1
SETTLEMENT WITH HERBAL SCIENCE (Details) (10-K) (USD $) | 3 Months Ended | 12 Months Ended | ||
Jun. 30, 2011 | Dec. 31, 2011 | Dec. 31, 2010 | Mar. 31, 2011 | |
Loss Contingencies [Line Items] | ' | ' | ' | ' |
Proof of claim | ' | ' | $1,500,000 | ' |
Stipulated settlement agreement | ' | ' | 900,000 | ' |
Cash payments of obligations | ' | 400,000 | ' | ' |
Remaining balance of obligation | ' | ' | ' | 500,000 |
Stock issued as settlement (in shares) | 12,884 | ' | ' | ' |
Warrants issued as a part of the settlement (in shares) | 3,029 | ' | ' | ' |
Exercise price of warrants granted (in dollars per share) | $46 | ' | ' | ' |
Fair value of common stock and warrant issued in excess of obligation to buyer | 200,000 | ' | ' | ' |
Fair value of stock issued | 600,000 | ' | ' | ' |
Fair value of warrants issued | 100,000 | ' | ' | ' |
Satisfaction of liabilities from equity investees | ' | 600,000 | ' | ' |
Payment of interest on liabilities | ' | 100,000 | ' | ' |
Attorneys fees | ' | 100,000 | ' | ' |
Additional ownership interest in equity investees | ' | 100,000 | ' | ' |
Payment of liabilities of equity investees | ' | 300,000 | ' | ' |
Gain (loss) on increased ownership interests and net liabilities assumed | ' | 0 | ' | ' |
Rice Rx, LLC (RRX) [Member] | ' | ' | ' | ' |
Loss Contingencies [Line Items] | ' | ' | ' | ' |
Ownership interest in equity investee (in hundredths) | 100.00% | ' | ' | 50.00% |
Gain (loss) on increased ownership interests and net liabilities assumed | ' | -100,000 | ' | ' |
Loss from operations of investee | ' | 0 | 0 | ' |
Rice Science, LLC (RS) [Member] | ' | ' | ' | ' |
Loss Contingencies [Line Items] | ' | ' | ' | ' |
Ownership interest in equity investee (in hundredths) | 100.00% | ' | ' | 80.00% |
Cash paid for equity investee's interest and the noncontrolling interest derecognized with the transaction | ' | 300,000 | ' | ' |
Gain (loss) on increased ownership interests and net liabilities assumed | ' | $0 | ' | ' |
INCOME_TAXES_Details_10K
INCOME TAXES (Details) (10-K) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | |
United States [Abstract] | ' | ' | ' | ' | ' | ' |
Net operating loss carryforwards | ' | ' | ' | ' | $41,374,000 | $42,008,000 |
Gain on sale of membership interests in Nutra SA | ' | ' | ' | ' | 374,000 | 374,000 |
Stock options and warrants | ' | ' | ' | ' | 1,144,000 | 3,000,000 |
Intangible assets | ' | ' | ' | ' | 960,000 | 577,000 |
Property | ' | ' | ' | ' | 5,651,000 | 4,372,000 |
Capitalized expenses | ' | ' | ' | ' | 715,000 | 1,217,000 |
Convertible debt | ' | ' | ' | ' | -399,000 | 0 |
Other | ' | ' | ' | ' | 86,000 | 283,000 |
Deferred tax assets | ' | ' | ' | ' | 49,905,000 | 51,831,000 |
Less: Valuation allowance | ' | ' | ' | ' | -49,905,000 | -51,831,000 |
Net deferred tax assets | ' | ' | ' | ' | 0 | 0 |
Brazil [Abstract] | ' | ' | ' | ' | ' | ' |
Intangible assets | ' | ' | ' | ' | -490,000 | -904,000 |
Property | ' | ' | ' | ' | -2,165,000 | -2,927,000 |
Net operating loss carryforwards | ' | ' | ' | ' | 960,000 | 14,000 |
Other | ' | ' | ' | ' | 255,000 | 209,000 |
Net deferred tax liabilities | ' | ' | ' | ' | -1,440,000 | -3,608,000 |
Net deferred tax liabilities | ' | ' | ' | ' | -1,440,000 | -3,608,000 |
Deferred tax asset - current | ' | ' | ' | ' | 234,000 | 159,000 |
Deferred tax liability - long-term | -93,000 | ' | -93,000 | ' | -1,674,000 | -3,767,000 |
Change in valuation allowance | ' | ' | ' | ' | 1,900,000 | 1,300,000 |
Change in net operating loss and other deferred changes | ' | ' | ' | ' | 1,700,000 | 3,400,000 |
Impact of adjustments to capitalized expenses and stock option compensation | ' | ' | ' | ' | 2,100,000 | ' |
Impact for adjustment of net operating loss carryforwards to the returns filed | ' | ' | ' | ' | ' | 1,700,000 |
Loss before income taxes [Abstract] | ' | ' | ' | ' | ' | ' |
Foreign | ' | ' | ' | ' | -5,051,000 | -2,277,000 |
Domestic | ' | ' | ' | ' | -8,020,000 | -8,943,000 |
Loss before income taxes | ' | ' | ' | ' | -13,071,000 | -11,220,000 |
Foreign deferred tax benefit | ' | ' | ' | ' | 1,900,000 | 300,000 |
U.S. tax provision or benefit | ' | ' | ' | ' | 0 | 0 |
Federal statutory income tax rate (in hundredths) | ' | ' | ' | ' | 34.00% | 34.00% |
Income Tax Reconciliation [Abstract] | ' | ' | ' | ' | ' | ' |
Income tax benefit at federal statutory rate | ' | ' | ' | ' | -4,444,000 | -3,815,000 |
Increase (decrease) resulting from: | ' | ' | ' | ' | ' | ' |
State tax benefit, net of federal tax effect | ' | ' | ' | ' | -251,000 | -347,000 |
Change in valuation allowance | ' | ' | ' | ' | -1,926,000 | 1,313,000 |
Adjustment to U.S. net operating losses | ' | ' | ' | ' | 0 | 1,694,000 |
Adjustment to capitalized costs deferred balances | ' | ' | ' | ' | 443,000 | 0 |
Adjustment to stock option compensation deferred balances | ' | ' | ' | ' | 1,602,000 | 0 |
Reduction in deferred balances for forfeited, expired or cancelled options | ' | ' | ' | ' | 602,000 | 0 |
Expiration of U.S. net operating losses | ' | ' | ' | ' | 1,460,000 | 115,000 |
Nontaxable fair value adjustment | ' | ' | ' | ' | -1,843,000 | -113,000 |
Nondeductible convertible debt issuance expenses | ' | ' | ' | ' | 2,285,000 | 0 |
Impact of state rate changes | ' | ' | ' | ' | 0 | 437,000 |
Nondeductible expenses | ' | ' | ' | ' | 10,000 | 18,000 |
Foreign taxes | ' | ' | ' | ' | 6,000 | -6,000 |
Adjustments to Brazil deferred balances | ' | ' | ' | ' | -222,000 | 429,000 |
Adjustments to U.S. deferred balances | ' | ' | ' | ' | 343,000 | -70,000 |
Income tax benefit | -636,000 | -194,000 | -1,717,000 | -1,105,000 | -1,935,000 | -345,000 |
Federal [Member] | ' | ' | ' | ' | ' | ' |
Deferred Tax Assets (Liabilities) [Line Items] | ' | ' | ' | ' | ' | ' |
Net operating loss carryforwards | ' | ' | ' | ' | 110,700,000 | ' |
Operating loss carryforwards, expiration dates | ' | ' | ' | ' | 'from 2018 through 2032 | ' |
State [Member] | ' | ' | ' | ' | ' | ' |
Deferred Tax Assets (Liabilities) [Line Items] | ' | ' | ' | ' | ' | ' |
Net operating loss carryforwards | ' | ' | ' | ' | 70,300,000 | ' |
Operating loss carryforwards, expiration dates | ' | ' | ' | ' | 'from 2013 through 2032 | ' |
Brazil [Member] | ' | ' | ' | ' | ' | ' |
Deferred Tax Assets (Liabilities) [Line Items] | ' | ' | ' | ' | ' | ' |
Net operating loss carryforwards | ' | ' | ' | ' | $2,800,000 | ' |
RECOVERIES_FROM_FORMER_CUSTOME1
RECOVERIES FROM FORMER CUSTOMERS (Details) (10-K) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2012 | Dec. 31, 2011 |
Gain Contingencies [Line Items] | ' | ' |
Recoveries from former customers | $0 | ($1,800) |
Settlement Agreement [Member] | ' | ' |
Gain Contingencies [Line Items] | ' | ' |
Recoveries from former customers | ' | 800 |
Resolution of Certain Legal Matters [Member] | ' | ' |
Gain Contingencies [Line Items] | ' | ' |
Recoveries from former customers | ' | $1,000 |
COMMITMENTS_AND_CONTINGENCIES_2
COMMITMENTS AND CONTINGENCIES (Details) (10-K) (USD $) | 12 Months Ended | ||||||||
In Millions, unless otherwise specified | Dec. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Feb. 06, 2009 | Jan. 31, 2008 | Sep. 30, 2013 | Dec. 31, 2012 |
Sellers [Member] | Sellers [Member] | Sellers [Member] | Sellers [Member] | Sellers [Member] | Pending Litigation [Member] | Pending Litigation [Member] | |||
Former Irgovel Stockholder David Resyng [Member] | Former Irgovel Stockholder David Resyng [Member] | ||||||||
Leases [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Remaining term of lease | '21 years | ' | ' | ' | ' | ' | ' | ' | ' |
Future minimum payments under operating lease commitments [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
2013 | $0.40 | ' | ' | ' | ' | ' | ' | ' | ' |
2014 | 0.3 | ' | ' | ' | ' | ' | ' | ' | ' |
2015 | 0.3 | ' | ' | ' | ' | ' | ' | ' | ' |
2016 | 0.3 | ' | ' | ' | ' | ' | ' | ' | ' |
2017 | 0.1 | ' | ' | ' | ' | ' | ' | ' | ' |
Thereafter | 1.2 | ' | ' | ' | ' | ' | ' | ' | ' |
Lease expense | 0.4 | 0.5 | ' | ' | ' | ' | ' | ' | ' |
Loss Contingencies [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Damages sought by plaintiff | ' | ' | ' | ' | ' | ' | ' | 3 | 3 |
Amount of second installment on purchase agreement being withheld | ' | ' | ' | 1 | ' | 1 | ' | ' | ' |
Amount held in escrow | ' | ' | 1.9 | 1.9 | 1.9 | 2 | 2 | ' | ' |
Amount of escrow liability in accrued expenses | ' | ' | 1.3 | 1.4 | 1.9 | ' | ' | ' | ' |
Pre-acquisition contingencies | ' | ' | 0.7 | 0.6 | ' | ' | ' | ' | ' |
Escrow balance available to settle remaining contingencies | ' | ' | $1.40 | $1.40 | ' | ' | ' | ' | ' |
EMPLOYEE_BONUS_PLAN_Details_10
EMPLOYEE BONUS PLAN (Details) (10-K) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
EMPLOYEE BONUS PLAN [Abstract] | ' | ' | ' |
Cash incentive bonus plan, amount approved | $600,000 | $500,000 | ' |
Employee bonus accrued | $0 | $0 | $0 |
RELATED_PARTY_TRANSACTIONS_Det
RELATED PARTY TRANSACTIONS (Details) (10-K) (USD $) | 9 Months Ended | 12 Months Ended | 12 Months Ended | 1 Months Ended | 3 Months Ended | 9 Months Ended | 1 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | 1 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | |||||||||||||||||||||||
Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Jun. 30, 2011 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Jan. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Jan. 31, 2012 | Dec. 31, 2011 | Apr. 30, 2012 | Jan. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Jan. 31, 2012 | Sep. 30, 2013 | Mar. 31, 2013 | Sep. 30, 2013 | Sep. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | ||||||
Convertible Subordinated Debt [Member] | Convertible Subordinated Debt [Member] | Convertible Subordinated Debt [Member] | Convertible Subordinated Debt [Member] | Convertible Subordinated Debt [Member] | Convertible Subordinated Debt [Member] | Director - Baruch Halpern [Member] | Director - Baruch Halpern [Member] | Director - Baruch Halpern [Member] | Director - Baruch Halpern [Member] | Director - Baruch Halpern [Member] | Director - Baruch Halpern [Member] | Director - Baruch Halpern [Member] | Director - Mr. Hoogenkamp [Member] | Director - Mr. Hoogenkamp [Member] | Director - Mr. Hoogenkamp [Member] | Director - Mr. Hoogenkamp [Member] | Other Officers and Directors [Member] | Other Officers and Directors [Member] | Other Officers and Directors [Member] | Other Officers and Directors [Member] | Other Officers and Directors [Member] | HC and Halpern Entities [Member] | HC and Halpern Entities [Member] | HC and Halpern Entities [Member] | Minimum [Member] | Minimum [Member] | Maximum [Member] | Maximum [Member] | Maximum [Member] | Maximum [Member] | Maximum [Member] | |||||||||||
First Issuance 30 dollars per share [Member] | Second Issuance at 20 dollars per share [Member] | Second Issuance at 20 dollars per share [Member] | Third Issuance at 14 dollars per share [Member] | Third Issuance at 14 dollars per share [Member] | Convertible Subordinated Debt [Member] | Convertible Subordinated Debt [Member] | Director - Baruch Halpern [Member] | Director - Baruch Halpern [Member] | Director - Baruch Halpern [Member] | Director - Baruch Halpern [Member] | Director - Mr. Hoogenkamp [Member] | HC and Halpern Entities [Member] | HC and Halpern Entities [Member] | |||||||||||||||||||||||||||||
January 2012 [Member] | January 2012 [Member] | May 2012 [Member] | July 2012 [Member] | August 2012 [Member] | ||||||||||||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Obligated to pay success fees (in hundredths) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2.50% | 2.50% | 5.00% | 5.00% | ' | ' | ' | |||||
Additional consideration paid on certain transactions (in hundredths) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2.50% | 2.50% | 5.00% | 5.00% | ' | ' | ' | |||||
Summary of transactional warrants listed below under terms of financial advisor agreement with HC [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Date of Warrants | ' | ' | ' | ' | ' | ' | 31-Jan-12 | [1] | 31-Jan-12 | [1] | 31-May-12 | [1] | 31-Jul-12 | 31-Aug-12 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Number of Shares Under Warrants (in shares) | ' | ' | ' | 22,766 | ' | ' | 1,250 | [1] | 5,563 | [1] | 63 | [1] | 711 | 268 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Exercise Price of Warrant | ' | ' | ' | ' | ' | ' | 'Exercisable immediately at $30.00 per share | [1],[2] | 'Exercisable immediately at $20.00 per share | [1],[2] | 'Exercisable immediately at $20.00 per share | [1],[2] | 'Exercisable immediately at $14.00 per share | [2] | 'Exercisable immediately at $14.00 per share | [2] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Exercise price per warrant (in dollars per share) | ' | ' | ' | ' | ' | ' | $30 | [1] | $20 | [1] | $20 | [1] | $14 | $14 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Accounts payable or accrued expenses | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $100,000 | $100,000 | |||||
Expiration Date of Warrant | ' | ' | ' | ' | ' | ' | 31-Jan-17 | [1] | 31-Jan-17 | [1] | 31-May-17 | [1] | 31-Jul-17 | 31-Aug-17 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Notice period of warrant conversion | ' | ' | '61 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Minimum percentages of common stock considered as beneficial ownership interest (in hundredths) | ' | ' | 4.99% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Exercise price of warrants (in dollars per share) | ' | ' | ' | ' | $46 | $14 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Summary of other transactions and balances with HC and Halpern Entities [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Success fees earned by HC under financial advisor agreement payable in cash | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 164,000 | 26,000 | ' | ' | ' | ' | ' | ' | ' | |||||
Proceeds received from Mr. Halpern and Halpern Entities upon issuance of convertible debt and related warrants | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 213,000 | 1,739,000 | ' | ' | ' | ' | ' | ' | ' | |||||
Interest earned by Halpern entities on convertible debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 302,000 | 225,000 | ' | ' | ' | ' | ' | ' | ' | |||||
Payments to HC relevant to HC's class 6 general unsecured creditor claim | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 400,000 | 256,000 | 754,000 | ' | ' | ' | ' | ' | ' | ' | |||||
Warrants issued (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 25,833 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 204 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Maturity date | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 31-Jan-15 | 31-Jul-15 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Weighted average exercise price per warrant (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $20 | ' | ' | ' | ' | $24 | $16 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Warrants granted in period, fair value | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Amount agreed to pay for consulting services | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100,000 | ' | ' | |||||
Number of Securities Called by Warrants | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 178.572 | 125,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Common stock issued for vendor services, (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5,000 | ' | ' | 750 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Consulting service fees | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100,000 | 100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Change in Fair Value of the Warrants | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Granted (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2.2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Options vested (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Vesting period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 'Vest in twelve equal monthly installments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Proceeds from issuance of subordinated long-term debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Interest paid | $1,785,000 | $1,162,000 | $1,651,000 | $1,551,000 | ' | ' | ' | ' | ' | ' | ' | ' | $100,000 | $100,000 | $100,000 | $200,000 | ' | ' | ' | ' | ' | ' | $100,000 | ' | $1,000 | $1,000 | $2,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
[1] | As a result of the July 31, 2012, issuances of convertible debt and related warrants, the exercise prices on these transactional warrants were reduced under the full ratchet antidilution provisions included in the transactional warrants, to $14.00 per share and the number of underlying shares increased to equal the number of original underlying shares times the initial exercise price divided by $14.00 per share. | |||||||||||||||||||||||||||||||||||||||||
[2] | All of the transactional warrants contain full ratchet antidilution provisions and require the holders to provide us with at least 61 days notice prior to conversion or exercise to the extent the holder would have a beneficial ownership interest in our common stock in excess of 4.99% of our outstanding common stock immediately after conversion or exercise. |
SEGMENT_INFORMATION_Details_10
SEGMENT INFORMATION (Details) (10-K) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 |
Segment | Segment | |||||
SEGMENT INFORMATION [Abstract] | ' | ' | ' | ' | ' | ' |
Number of reportable segments | ' | ' | 3 | ' | 3 | ' |
Segment Reporting Information, Profit (Loss) [Abstract] | ' | ' | ' | ' | ' | ' |
Revenues | $8,725 | $9,349 | $26,822 | $28,806 | $37,723 | $36,957 |
Cost of goods sold | 7,955 | 7,473 | 23,808 | 23,426 | 31,651 | 29,386 |
Gross profit | 770 | 1,876 | 3,014 | 5,380 | 6,072 | 7,571 |
Intersegment fees | ' | 0 | ' | 0 | 0 | 0 |
Depreciation and amortization (in selling, general and administrative) | -302 | -521 | -951 | -1,691 | -2,062 | -2,651 |
Impairment of intangibles and property | ' | 0 | -300 | -1,069 | -1,069 | -1,592 |
Recoveries from former customers | ' | ' | ' | ' | 0 | 1,800 |
Other operating expense | -3,132 | -2,709 | -8,774 | -9,229 | -11,628 | -14,712 |
Loss from operations | -2,664 | -1,354 | -6,711 | -6,609 | -8,687 | -9,584 |
Net loss attributable to RiceBran Technologies shareholders | -2,071 | -368 | -9,851 | -9,398 | -9,509 | -10,099 |
Interest expense | -1,084 | -498 | -2,879 | -1,303 | -1,926 | -1,763 |
Depreciation (in costs of goods sold) | -675 | -578 | -2,024 | -1,932 | -2,550 | -2,329 |
Segment Reporting Information, Additional Information [Abstract] | ' | ' | ' | ' | ' | ' |
Purchases of property | 1,051 | 2,031 | 2,301 | 5,824 | 6,482 | 6,867 |
Property, net (variable interest entity restricted $5,231 and $5,757) | 25,820 | ' | 25,820 | ' | 28,457 | 27,995 |
Goodwill, end of period | 4,331 | ' | 4,331 | ' | 4,773 | 5,240 |
Intangible assets, net, end of period | 1,690 | ' | 1,690 | ' | 2,575 | 3,928 |
Total assets, end of period | 41,826 | ' | 41,826 | ' | 47,006 | 52,232 |
Revenues from External Customers by Geographical Area [Line Items] | ' | ' | ' | ' | ' | ' |
Revenues | 8,725 | 9,349 | 26,822 | 28,806 | 37,723 | 36,957 |
United States [Member] | ' | ' | ' | ' | ' | ' |
Revenues from External Customers by Geographical Area [Line Items] | ' | ' | ' | ' | ' | ' |
Revenues | ' | ' | ' | ' | 16,177 | 9,178 |
Brazil [Member] | ' | ' | ' | ' | ' | ' |
Revenues from External Customers by Geographical Area [Line Items] | ' | ' | ' | ' | ' | ' |
Revenues | ' | ' | ' | ' | 18,266 | 19,141 |
Other International [Member] | ' | ' | ' | ' | ' | ' |
Revenues from External Customers by Geographical Area [Line Items] | ' | ' | ' | ' | ' | ' |
Revenues | 1,625 | 2,038 | 3,263 | 5,908 | 3,280 | 8,638 |
Corporate [Member] | ' | ' | ' | ' | ' | ' |
Segment Reporting Information, Profit (Loss) [Abstract] | ' | ' | ' | ' | ' | ' |
Revenues | 0 | 0 | 0 | 0 | 0 | 0 |
Cost of goods sold | 0 | 0 | 0 | 0 | 0 | 0 |
Gross profit | 0 | 0 | 0 | 0 | 0 | 0 |
Intersegment fees | ' | 57 | ' | 169 | 347 | -439 |
Depreciation and amortization (in selling, general and administrative) | -6 | -175 | -17 | -246 | -197 | -119 |
Impairment of intangibles and property | ' | 0 | ' | 0 | 0 | -240 |
Recoveries from former customers | ' | ' | ' | ' | ' | 0 |
Other operating expense | -1,292 | -836 | -3,627 | -3,559 | -4,768 | -5,556 |
Loss from operations | -1,298 | -954 | -3,644 | -3,636 | -4,618 | -6,354 |
Net loss attributable to RiceBran Technologies shareholders | -1,433 | -220 | -8,255 | -7,229 | -7,046 | -6,875 |
Interest expense | -666 | -173 | -1,541 | -494 | -743 | -619 |
Depreciation (in costs of goods sold) | 0 | 0 | 0 | 0 | 0 | 0 |
Segment Reporting Information, Additional Information [Abstract] | ' | ' | ' | ' | ' | ' |
Purchases of property | 6 | 0 | 12 | 0 | 1 | 0 |
Property, net (variable interest entity restricted $5,231 and $5,757) | 59 | ' | 59 | ' | 36 | 263 |
Goodwill, end of period | 0 | ' | 0 | ' | 0 | 0 |
Intangible assets, net, end of period | 0 | ' | 0 | ' | 0 | 0 |
Total assets, end of period | 3,328 | ' | 3,328 | ' | 3,201 | 4,672 |
USA [Member] | ' | ' | ' | ' | ' | ' |
Segment Reporting Information, Profit (Loss) [Abstract] | ' | ' | ' | ' | ' | ' |
Revenues | 3,065 | 3,065 | 9,099 | 9,629 | 12,633 | 10,700 |
Cost of goods sold | 2,332 | 2,184 | 6,895 | 6,737 | 8,946 | 7,566 |
Gross profit | 733 | 881 | 2,204 | 2,892 | 3,687 | 3,134 |
Intersegment fees | ' | 0 | ' | 0 | 0 | 0 |
Depreciation and amortization (in selling, general and administrative) | -119 | -145 | -358 | -784 | -1,006 | -1,306 |
Impairment of intangibles and property | ' | 0 | ' | -1,069 | -1,069 | -1,352 |
Recoveries from former customers | ' | ' | ' | ' | ' | 1,800 |
Other operating expense | -622 | -662 | -1,743 | -1,959 | -2,364 | -3,728 |
Loss from operations | -8 | 74 | 103 | -920 | -752 | -1,452 |
Net loss attributable to RiceBran Technologies shareholders | -8 | 73 | 103 | -937 | -770 | -1,631 |
Interest expense | 0 | 0 | 0 | -17 | -17 | -180 |
Depreciation (in costs of goods sold) | -207 | -179 | -665 | -714 | -899 | -993 |
Segment Reporting Information, Additional Information [Abstract] | ' | ' | ' | ' | ' | ' |
Purchases of property | 19 | 6 | 147 | 72 | 150 | 98 |
Property, net (variable interest entity restricted $5,231 and $5,757) | 7,442 | ' | 7,442 | ' | 8,731 | 11,899 |
Goodwill, end of period | 0 | ' | 0 | ' | 0 | 0 |
Intangible assets, net, end of period | 836 | ' | 836 | ' | 1,133 | 1,612 |
Total assets, end of period | 10,122 | ' | 10,122 | ' | 11,609 | 14,219 |
Brazil [Member] | ' | ' | ' | ' | ' | ' |
Segment Reporting Information, Profit (Loss) [Abstract] | ' | ' | ' | ' | ' | ' |
Revenues | 5,660 | 6,284 | 17,723 | 19,177 | 25,090 | 26,257 |
Cost of goods sold | 5,623 | 5,289 | 16,913 | 16,689 | 22,705 | 21,820 |
Gross profit | 37 | 995 | 810 | 2,488 | 2,385 | 4,437 |
Intersegment fees | ' | -57 | ' | -169 | -347 | 439 |
Depreciation and amortization (in selling, general and administrative) | -177 | -201 | -576 | -661 | -859 | -1,226 |
Impairment of intangibles and property | ' | 0 | ' | 0 | 0 | 0 |
Recoveries from former customers | ' | ' | ' | ' | ' | 0 |
Other operating expense | -1,218 | -1,211 | -3,404 | -3,711 | -4,496 | -5,428 |
Loss from operations | -1,358 | -474 | -3,170 | -2,053 | -3,317 | -1,778 |
Net loss attributable to RiceBran Technologies shareholders | -630 | -221 | -1,699 | -1,232 | -1,693 | -1,593 |
Interest expense | -418 | -325 | -1,338 | -792 | -1,166 | -964 |
Depreciation (in costs of goods sold) | -468 | -399 | -1,359 | -1,218 | -1,651 | -1,336 |
Segment Reporting Information, Additional Information [Abstract] | ' | ' | ' | ' | ' | ' |
Purchases of property | 1,026 | 2,025 | 2,142 | 5,752 | 6,331 | 6,769 |
Property, net (variable interest entity restricted $5,231 and $5,757) | 18,319 | ' | 18,319 | ' | 19,690 | 15,833 |
Goodwill, end of period | 4,331 | ' | 4,331 | ' | 4,773 | 5,240 |
Intangible assets, net, end of period | 854 | ' | 854 | ' | 1,442 | 2,316 |
Total assets, end of period | $28,376 | ' | $28,376 | ' | $32,196 | $33,341 |
FAIR_VALUE_MEASUREMENT_Details
FAIR VALUE MEASUREMENT (Details) (10-K) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||||||||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | ' | ' | ' | ' | |||||
Fair value of convertible debt's excess value over carrying value | $2,600,000 | ' | $2,600,000 | ' | $2,500,000 | ' | ' | |||||
Fair values by input hierarchy of items measured at fair value on a nonrecurring basis [Abstract] | ' | ' | ' | ' | ' | ' | ' | |||||
Property, net | 394,000 | [1],[2] | ' | 394,000 | [1],[2] | ' | 1,058,000 | [1],[2] | ' | ' | ||
Impairment Losses | 0 | 0 | 300,000 | [1] | 1,069,000 | 1,069,000 | [1] | 906,000 | ' | |||
Changes in level 3 items measured at fair value on a recurring basis [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | |||||
Fair Value as of Beginning of Period | ' | ' | ' | ' | -6,719,000 | -1,296,000 | -1,628,000 | |||||
Total Realized and Unrealized Gains (Losses) | ' | ' | ' | ' | 5,420,000 | [3] | 332,000 | [3] | ' | |||
Issuance of New Instruments | ' | ' | ' | ' | -11,449,000 | 0 | ' | |||||
Net Transfers (Into) Out of Level 3 | ' | ' | ' | ' | 606,000 | [4],[5] | 0 | ' | ||||
Fair Value, at End of Period | ' | ' | ' | ' | -6,719,000 | -1,296,000 | -1,628,000 | |||||
Change in Unrealized Gains (Losses) on Instruments Still Held | ' | ' | ' | ' | 5,692,000 | 332,000 | ' | |||||
Derivative warrant liability [Member] | ' | ' | ' | ' | ' | ' | ' | |||||
Changes in level 3 items measured at fair value on a recurring basis [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | |||||
Fair Value as of Beginning of Period | ' | ' | ' | ' | -4,520,000 | -1,296,000 | -1,628,000 | |||||
Total Realized and Unrealized Gains (Losses) | ' | ' | ' | ' | 3,048,000 | [3] | 332,000 | [3] | ' | |||
Issuance of New Instruments | ' | ' | ' | ' | -6,983,000 | 0 | ' | |||||
Net Transfers (Into) Out of Level 3 | ' | ' | ' | ' | 711,000 | [4] | 0 | ' | ||||
Fair Value, at End of Period | ' | ' | ' | ' | -4,520,000 | -1,296,000 | -1,628,000 | |||||
Change in Unrealized Gains (Losses) on Instruments Still Held | ' | ' | ' | ' | 3,320,000 | 332,000 | ' | |||||
Derivative conversion liability [Member] | ' | ' | ' | ' | ' | ' | ' | |||||
Changes in level 3 items measured at fair value on a recurring basis [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | |||||
Fair Value as of Beginning of Period | ' | ' | ' | ' | -2,199,000 | 0 | ' | |||||
Total Realized and Unrealized Gains (Losses) | ' | ' | ' | ' | 2,372,000 | [3] | ' | ' | ||||
Issuance of New Instruments | ' | ' | ' | ' | -4,466,000 | ' | ' | |||||
Net Transfers (Into) Out of Level 3 | ' | ' | ' | ' | -105,000 | [5] | ' | ' | ||||
Fair Value, at End of Period | ' | ' | ' | ' | -2,199,000 | 0 | ' | |||||
Change in Unrealized Gains (Losses) on Instruments Still Held | ' | ' | ' | ' | 2,372,000 | ' | ' | |||||
Recurring [Member] | ' | ' | ' | ' | ' | ' | ' | |||||
Fair values by input hierarchy of items measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' | ' | |||||
Total liabilities at fair value | -9,701,000 | ' | -9,701,000 | ' | -6,719,000 | -1,296,000 | ' | |||||
Changes in level 3 items measured at fair value on a recurring basis [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | |||||
Fair Value as of Beginning of Period | -9,701,000 | -8,131,000 | -9,701,000 | -8,131,000 | -6,719,000 | -1,296,000 | ' | |||||
Total Realized and Unrealized Gains (Losses) | ' | ' | -1,918,000 | [3] | 4,008,000 | [3] | ' | ' | ' | |||
Issuance of New Instruments | ' | ' | 1,163,000 | 11,449,000 | ' | ' | ' | |||||
Net Transfers (Into) Out of Level 3 | ' | ' | -99,000 | -606,000 | ' | ' | ' | |||||
Fair Value, at End of Period | -9,701,000 | -8,131,000 | -9,701,000 | -8,131,000 | -6,719,000 | -1,296,000 | ' | |||||
Change in Unrealized Gains (Losses) on Instruments Still Held | ' | ' | -2,309,000 | 4,280,000 | ' | ' | ' | |||||
Nonrecurring [Member] | ' | ' | ' | ' | ' | ' | ' | |||||
Fair values by input hierarchy of items measured at fair value on a nonrecurring basis [Abstract] | ' | ' | ' | ' | ' | ' | ' | |||||
Property, net | ' | ' | ' | ' | 1,058,000 | [6] | ' | ' | ||||
Impairment Losses | ' | ' | ' | ' | 1,069,000 | [6] | ' | ' | ||||
Level 1 [Member] | ' | ' | ' | ' | ' | ' | ' | |||||
Fair values by input hierarchy of items measured at fair value on a nonrecurring basis [Abstract] | ' | ' | ' | ' | ' | ' | ' | |||||
Property, net | 0 | [1],[2] | ' | 0 | [1],[2] | ' | 0 | [1],[2] | ' | ' | ||
Level 1 [Member] | Recurring [Member] | ' | ' | ' | ' | ' | ' | ' | |||||
Fair values by input hierarchy of items measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' | ' | |||||
Total liabilities at fair value | 0 | ' | 0 | ' | 0 | 0 | ' | |||||
Level 1 [Member] | Nonrecurring [Member] | ' | ' | ' | ' | ' | ' | ' | |||||
Fair values by input hierarchy of items measured at fair value on a nonrecurring basis [Abstract] | ' | ' | ' | ' | ' | ' | ' | |||||
Property, net | ' | ' | ' | ' | 0 | [6] | ' | ' | ||||
Level 2 [Member] | ' | ' | ' | ' | ' | ' | ' | |||||
Fair values by input hierarchy of items measured at fair value on a nonrecurring basis [Abstract] | ' | ' | ' | ' | ' | ' | ' | |||||
Property, net | 0 | [1],[2] | ' | 0 | [1],[2] | ' | 0 | [1],[2] | ' | ' | ||
Level 2 [Member] | Recurring [Member] | ' | ' | ' | ' | ' | ' | ' | |||||
Fair values by input hierarchy of items measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' | ' | |||||
Total liabilities at fair value | 0 | ' | 0 | ' | 0 | 0 | ' | |||||
Level 2 [Member] | Nonrecurring [Member] | ' | ' | ' | ' | ' | ' | ' | |||||
Fair values by input hierarchy of items measured at fair value on a nonrecurring basis [Abstract] | ' | ' | ' | ' | ' | ' | ' | |||||
Property, net | ' | ' | ' | ' | 0 | [6] | ' | ' | ||||
Level 3 [Member] | ' | ' | ' | ' | ' | ' | ' | |||||
Fair values by input hierarchy of items measured at fair value on a nonrecurring basis [Abstract] | ' | ' | ' | ' | ' | ' | ' | |||||
Property, net | 394,000 | [1],[2] | ' | 394,000 | [1],[2] | ' | 1,058,000 | [1],[2] | ' | ' | ||
Level 3 [Member] | Recurring [Member] | ' | ' | ' | ' | ' | ' | ' | |||||
Fair values by input hierarchy of items measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' | ' | |||||
Total liabilities at fair value | -9,701,000 | ' | -9,701,000 | ' | -6,719,000 | -1,296,000 | ' | |||||
Level 3 [Member] | Nonrecurring [Member] | ' | ' | ' | ' | ' | ' | ' | |||||
Fair values by input hierarchy of items measured at fair value on a nonrecurring basis [Abstract] | ' | ' | ' | ' | ' | ' | ' | |||||
Property, net | ' | ' | ' | ' | 1,058,000 | [6] | ' | ' | ||||
Derivative warrant liability [Member] | Recurring [Member] | ' | ' | ' | ' | ' | ' | ' | |||||
Fair values by input hierarchy of items measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' | ' | |||||
Derivative warrant liabilities | -6,508,000 | [7],[8] | ' | -6,508,000 | [7],[8] | ' | -4,520,000 | [7],[8],[9] | -1,296,000 | [9] | ' | |
Fair value assumptions [Abstract] | ' | ' | ' | ' | ' | ' | ' | |||||
Expected volatility (in hundredths) | ' | ' | 90.00% | ' | 93.00% | 84.00% | ' | |||||
Changes in level 3 items measured at fair value on a recurring basis [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | |||||
Fair Value as of Beginning of Period | -6,508,000 | -6,426,000 | -6,508,000 | -6,426,000 | -4,520,000 | -1,296,000 | ' | |||||
Total Realized and Unrealized Gains (Losses) | ' | ' | -1,413,000 | [3] | 1,142,000 | [3] | ' | ' | ' | |||
Issuance of New Instruments | ' | ' | 575,000 | 6,983,000 | ' | ' | ' | |||||
Net Transfers (Into) Out of Level 3 | ' | ' | 0 | -711,000 | [10] | ' | ' | ' | ||||
Fair Value, at End of Period | -6,508,000 | -6,426,000 | -6,508,000 | -6,426,000 | -4,520,000 | -1,296,000 | ' | |||||
Change in Unrealized Gains (Losses) on Instruments Still Held | ' | ' | -1,413,000 | 1,414,000 | ' | ' | ' | |||||
Derivative warrant liability [Member] | Recurring [Member] | Minimum [Member] | ' | ' | ' | ' | ' | ' | ' | |||||
Fair value assumptions [Abstract] | ' | ' | ' | ' | ' | ' | ' | |||||
Risk-free interest rate (in hundredths) | ' | ' | 0.00% | ' | 0.10% | 0.10% | ' | |||||
Derivative warrant liability [Member] | Recurring [Member] | Maximum [Member] | ' | ' | ' | ' | ' | ' | ' | |||||
Fair value assumptions [Abstract] | ' | ' | ' | ' | ' | ' | ' | |||||
Risk-free interest rate (in hundredths) | ' | ' | 1.40% | ' | 0.70% | 0.80% | ' | |||||
Derivative warrant liability [Member] | Recurring [Member] | Weighted Average [Member] | ' | ' | ' | ' | ' | ' | ' | |||||
Fair value assumptions [Abstract] | ' | ' | ' | ' | ' | ' | ' | |||||
Risk-free interest rate (in hundredths) | ' | ' | 1.00% | ' | 0.60% | 0.20% | ' | |||||
Derivative warrant liability [Member] | Level 1 [Member] | Recurring [Member] | ' | ' | ' | ' | ' | ' | ' | |||||
Fair values by input hierarchy of items measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' | ' | |||||
Derivative warrant liabilities | 0 | [7],[8] | ' | 0 | [7],[8] | ' | 0 | [7],[8],[9] | 0 | [9] | ' | |
Derivative warrant liability [Member] | Level 2 [Member] | Recurring [Member] | ' | ' | ' | ' | ' | ' | ' | |||||
Fair values by input hierarchy of items measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' | ' | |||||
Derivative warrant liabilities | 0 | [7],[8] | ' | 0 | [7],[8] | ' | 0 | [7],[8],[9] | 0 | [9] | ' | |
Derivative warrant liability [Member] | Level 3 [Member] | Recurring [Member] | ' | ' | ' | ' | ' | ' | ' | |||||
Fair values by input hierarchy of items measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' | ' | |||||
Derivative warrant liabilities | -6,508,000 | [7],[8] | ' | -6,508,000 | [7],[8] | ' | -4,520,000 | [7],[8],[9] | -1,296,000 | [9] | ' | |
Derivative conversion liability [Member] | Recurring [Member] | ' | ' | ' | ' | ' | ' | ' | |||||
Fair values by input hierarchy of items measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' | ' | |||||
Derivative warrant liabilities | -3,193,000 | [11],[12] | ' | -3,193,000 | [11],[12] | ' | -2,199,000 | [11],[12],[13] | ' | ' | ||
Fair value assumptions [Abstract] | ' | ' | ' | ' | ' | ' | ' | |||||
Expected volatility (in hundredths) | ' | ' | 90.00% | ' | 93.00% | ' | ' | |||||
Changes in level 3 items measured at fair value on a recurring basis [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | |||||
Fair Value as of Beginning of Period | -3,193,000 | -1,705,000 | -3,193,000 | -1,705,000 | -2,199,000 | 0 | ' | |||||
Total Realized and Unrealized Gains (Losses) | ' | ' | -505,000 | [3] | 2,866,000 | [3] | ' | ' | ' | |||
Issuance of New Instruments | ' | ' | 588,000 | 4,466,000 | ' | ' | ' | |||||
Net Transfers (Into) Out of Level 3 | ' | ' | -99,000 | [10] | 105,000 | ' | ' | ' | ||||
Fair Value, at End of Period | -3,193,000 | -1,705,000 | -3,193,000 | -1,705,000 | -2,199,000 | 0 | ' | |||||
Change in Unrealized Gains (Losses) on Instruments Still Held | ' | ' | -896,000 | 2,866,000 | ' | ' | ' | |||||
Derivative conversion liability [Member] | Recurring [Member] | Minimum [Member] | ' | ' | ' | ' | ' | ' | ' | |||||
Fair value assumptions [Abstract] | ' | ' | ' | ' | ' | ' | ' | |||||
Risk-free interest rate (in hundredths) | ' | ' | 0.00% | ' | 0.20% | ' | ' | |||||
Derivative conversion liability [Member] | Recurring [Member] | Maximum [Member] | ' | ' | ' | ' | ' | ' | ' | |||||
Fair value assumptions [Abstract] | ' | ' | ' | ' | ' | ' | ' | |||||
Risk-free interest rate (in hundredths) | ' | ' | 0.60% | ' | 0.30% | ' | ' | |||||
Derivative conversion liability [Member] | Recurring [Member] | Weighted Average [Member] | ' | ' | ' | ' | ' | ' | ' | |||||
Fair value assumptions [Abstract] | ' | ' | ' | ' | ' | ' | ' | |||||
Risk-free interest rate (in hundredths) | ' | ' | 0.40% | ' | 0.30% | ' | ' | |||||
Derivative conversion liability [Member] | Level 1 [Member] | Recurring [Member] | ' | ' | ' | ' | ' | ' | ' | |||||
Fair values by input hierarchy of items measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' | ' | |||||
Derivative warrant liabilities | 0 | [11],[12] | ' | 0 | [11],[12] | ' | 0 | [11],[12],[13] | ' | ' | ||
Derivative conversion liability [Member] | Level 2 [Member] | Recurring [Member] | ' | ' | ' | ' | ' | ' | ' | |||||
Fair values by input hierarchy of items measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' | ' | |||||
Derivative warrant liabilities | 0 | [11],[12] | ' | 0 | [11],[12] | ' | 0 | [11],[12],[13] | ' | ' | ||
Derivative conversion liability [Member] | Level 3 [Member] | Recurring [Member] | ' | ' | ' | ' | ' | ' | ' | |||||
Fair values by input hierarchy of items measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' | ' | |||||
Derivative warrant liabilities | ($3,193,000) | [11],[12] | ' | ($3,193,000) | [11],[12] | ' | ($2,199,000) | [11],[12],[13] | ' | ' | ||
[1] | Machinery and equipment not currently in use was evaluated for impairment and as a result was written down to estimated fair value in the first quarter of 2013 and the second quarter of 2012. Fair value is an estimate of net realizable value comprised of an estimate of proceeds from sale, based on an internal evaluation of market conditions, less estimated costs to sell. The estimate of net realizable value is subject to change. | |||||||||||
[2] | During the first quarter of 2013, machinery and equipment not currently in use was evaluated for impairment and as a result was written down to estimated fair value. Fair value is an estimate of net realizable value comprised of an estimate of proceeds from sale, based on an internal evaluation of market conditions, less estimated costs to sell. The estimate of net realizable value is subject to change. | |||||||||||
[3] | Included in change in fair value of derivative warrant and conversion liabilities in our consolidated statements of operations. | |||||||||||
[4] | Represents transfers to equity as a result of a holder exercising a warrant. | |||||||||||
[5] | Represents an adjustment to loss on extinguishment as a result of issuing the replacement senior convertible debenture. | |||||||||||
[6] | During 2012, machinery and equipment not currently in use was evaluated for impairment and as a result was written down to estimated fair value. Fair value is an estimate of net realizable value comprised of an estimate of proceeds from sale, based on an internal evaluation of market conditions, less estimated costs to sell. The estimate of net realizable value is subject to change. | |||||||||||
[7] | These warrants are valued using the lattice model each reporting period and the resultant change in fair value is recorded in the statements of operations. The lattice model requires us to assess the probability of future issuance of equity instruments at a price lower than the current exercise price of the warrants. The risk-free interest rate is determined by reference to the treasury yield curve rate of instruments with the same term as the warrant. Additional assumptions that were used to calculate fair value follow. September 30, 2013 December 31, 2012 Risk-free interest rate 0.0% - 1.4% 0.1% - 0.7% (1.0% weighted average) (0.6% weighted average) Expected volatility 90% 93% | |||||||||||
[8] | These warrants are valued using the lattice model each reporting period and the resultant change in fair value is recorded in the statements of operations. The lattice model requires us to assess the probability of future issuance of equity instruments at a price lower than the current exercise price of the warrants. The risk-free interest rate is determined by reference to the treasury yield curve rate of instruments with the same term as the warrant. Additional assumptions that were used to calculate fair value follow. | |||||||||||
[9] | These warrants are valued using the lattice model each reporting period and the resultant change in fair value is recorded in the statements of operations. The lattice model requires us to assess the probability of future issuance of equity instruments at a price lower than the current exercise price of the warrants. The risk-free interest rate is determined by reference to the treasury yield curve rate of instruments with the same term as the warrant. Additional assumptions that were used to calculate fair value follow. December 31, 2012 December 31, 2011 Risk-free interest rate 0.1% - 0.7% 0.1% - 0.8% (0.6% weighted average) (0.2% weighted average) Expected volatility 93% 84% | |||||||||||
[10] | Represents transfers to equity as a result of the exercise of a warrant in 2012 and conversion of debt in 2013. | |||||||||||
[11] | These conversion liabilities are valued using a lattice model each reporting period and the resultant change in fair value is recorded in the statements of operations. The lattice model requires us to assess the probability of future issuance of equity instruments at a price lower than the current conversion price of the debt. The risk-free interest rate is determined by reference to the treasury yield curve rate of instruments with the same term as the underlying debt. Additional assumptions that were used to calculate fair value follow. | |||||||||||
[12] | These conversion liabilities are valued using a lattice model each reporting period and the resultant change in fair value is recorded in the statements of operations. The lattice model requires us to assess the probability of future issuance of equity instruments at a price lower than the current conversion price of the debt. The risk-free interest rate is determined by reference to the treasury yield curve rate of instruments with the same term as the underlying debt. Additional assumptions that were used to calculate fair value follow. September 30, 2013 December 31, 2012 Risk-free interest rate 0.0-0.6% 0.2-0.3% (0.4% weighted average) (0.3% weighted average) Expected volatility 90% 93% | |||||||||||
[13] | These conversion liabilities are valued using a lattice model each reporting period and the resultant change in fair value is recorded in the statements of operations. The lattice model requires us to assess the probability of future issuance of equity instruments at a price lower than the current conversion price of the debt. The risk-free interest rate is determined by reference to the treasury yield curve rate of instruments with the same term as the underlying debt. Additional assumptions that were used to calculate fair value follow. December 31, 2012 Risk-free interest rate 0.2-0.3% (0.3% weighted average) Expected volatility 93% |
SUBSEQUENT_EVENTS_Details_10K
SUBSEQUENT EVENTS (Details) (10-K) (USD $) | 12 Months Ended | 1 Months Ended | |||
In Thousands, unless otherwise specified | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2011 | Mar. 31, 2013 | Dec. 31, 2012 |
CEO and Director - W. John Short and Director - Baruch Halpern [Member] | Partner [Member] | ||||
Subsequent Event [Member] | |||||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' |
Amount owed in quarterly installments | $4,509 | $5,217 | $4,202 | ' | $1,300 |
Amount owed if paid in full in June of 2013 | 3,021 | 4,569 | 2,995 | ' | 1,200 |
Debt - principal | ($6,674) | ' | ' | $100 | ' |
BASIS_OF_PRESENTATION_Details_
BASIS OF PRESENTATION (Details) (10-Q) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
In Thousands, unless otherwise specified | |||
BASIS OF PRESENTATION [Abstract] | ' | ' | ' |
Accumulated deficit | $214,271 | $204,420 | $194,911 |
BUSINESS_Details_10Q
BUSINESS (Details) (10-Q) | 9 Months Ended | 12 Months Ended |
Sep. 30, 2013 | Dec. 31, 2012 | |
Segment | Segment | |
Location | ||
BUSINESS [Abstract] | ' | ' |
Number of reportable business segments | 3 | 3 |
Number of locations in California | 2 | ' |
Number of locations in Louisiana | 2 | ' |
Number of locations in Lake Charles, Louisiana | 1 | ' |
Revenue from Human Food Products [Member] | USA Segment Revenue [Member] | ' | ' |
Concentration Risk [Line Items] | ' | ' |
Concentration risk, percentage (in hundredths) | 55.00% | 50.00% |
Revenue from Animal Nutrition Products [Member] | USA Segment Revenue [Member] | ' | ' |
Concentration Risk [Line Items] | ' | ' |
Concentration risk, percentage (in hundredths) | 45.00% | 50.00% |
RBO Products [Member] | Brazil Segment Revenue [Member] | ' | ' |
Concentration Risk [Line Items] | ' | ' |
Concentration risk, percentage (in hundredths) | 40.00% | 46.00% |
DRB Products [Member] | Brazil Segment Revenue [Member] | ' | ' |
Concentration Risk [Line Items] | ' | ' |
Concentration risk, percentage (in hundredths) | 60.00% | 54.00% |
LOSS_PER_SHARE_EPS_Details_10Q
LOSS PER SHARE (EPS) (Details) (10-Q) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||
In Thousands, except Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 |
NUMERATOR [Abstract] | ' | ' | ' | ' | ' | ' |
Basic and diluted - net loss attributable to RiceBran Technologies shareholders | ($2,071) | ($368) | ($9,851) | ($9,398) | ($9,509) | ($10,099) |
DENOMINATOR [Abstract] | ' | ' | ' | ' | ' | ' |
Basic EPS - weighted average number of shares outstanding (in shares) | 1,129,290 | 1,024,345 | 1,082,452 | 1,020,242 | 1,023,412 | 991,852 |
Effect of dilutive securities outstanding (in shares) | 0 | 0 | 0 | 0 | 0 | 0 |
Diluted EPS - weighted average number of shares outstanding (in shares) | 1,129,290 | 1,024,345 | 1,082,452 | 1,020,242 | 1,023,412 | 991,852 |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' | ' | ' | ' |
Average conversion price of convertible debt (in dollars per share) | ' | ' | ' | ' | $0.08 | $0.21 |
Stock Options [Member] | ' | ' | ' | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' | ' | ' | ' |
Number of shares of common stock which could be purchased with weighted average outstanding securities not included in diluted EPS because effect would be antidilutive (in shares) | 181,584 | 192,353 | 179,912 | 195,236 | 191,187 | 197,879 |
Average exercise price of options (in dollars per share) | $24 | ' | $28 | ' | ' | ' |
Warrants [Member] | ' | ' | ' | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' | ' | ' | ' |
Number of shares of common stock which could be purchased with weighted average outstanding securities not included in diluted EPS because effect would be antidilutive (in shares) | 716,917 | 1,003,127 | 751,653 | 713,414 | 736,753 | 214,765 |
Average exercise price of warrants (in dollars per share) | $16 | ' | $20 | ' | ' | ' |
Convertible Debt [Member] | ' | ' | ' | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' | ' | ' | ' |
Number of shares of common stock which could be purchased with weighted average outstanding securities not included in diluted EPS because effect would be antidilutive (in shares) | 438,754 | 416,805 | 452,184 | 287,368 | 334,709 | 25,800 |
Average conversion price of convertible debt (in dollars per share) | $14 | ' | $14 | ' | $16 | $42 |
REDEEMABLE_NONCONTROLLING_INTE5
REDEEMABLE NONCONTROLLING INTEREST IN NUTRA SA (Details) (10-Q) (USD $) | 12 Months Ended | 3 Months Ended | 9 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 9 Months Ended | 9 Months Ended | 0 Months Ended | 1 Months Ended | 2 Months Ended | ||||||||||||||||||||
Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Sep. 30, 2013 | Jun. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Mar. 31, 2012 | Mar. 31, 2011 | Jan. 31, 2011 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Dec. 31, 2011 | Sep. 30, 2011 | Jun. 30, 2011 | Mar. 31, 2011 | Jan. 31, 2011 | Nov. 08, 2013 | Oct. 31, 2013 | Dec. 31, 2013 | |
Nutra SA [Member] | Nutra SA [Member] | Nutra SA [Member] | Nutra SA [Member] | Nutra SA [Member] | Nutra SA [Member] | NutraCea [Member] | NutraCea [Member] | NutraCea [Member] | NutraCea [Member] | NutraCea [Member] | NutraCea [Member] | NutraCea [Member] | Investors [Member] | Investors [Member] | Investors [Member] | Investors [Member] | Investors [Member] | Investors [Member] | Investors [Member] | Investors [Member] | Investors [Member] | Investors [Member] | Investors [Member] | Investors [Member] | Investors [Member] | ||||||
Multiple | Multiple | Representative | Representative | Representative | Representative | Nutra SA [Member] | Nutra SA [Member] | Nutra SA [Member] | Nutra SA [Member] | Nutra SA [Member] | Nutra SA [Member] | Nutra SA [Member] | Nutra SA [Member] | Nutra SA [Member] | Nutra SA [Member] | Nutra SA [Member] | |||||||||||||||
Multiple | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | ||||||||||||||||||||||||||||
Multiple | |||||||||||||||||||||||||||||||
Summary of carrying amounts included in consolidated balance sheets [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash and cash equivalents | $1,040,000 | $701,000 | $850,000 | $3,329,000 | $537,000 | $478,000 | ' | $478,000 | ' | $562,000 | $3,290,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Other current assets (restricted $2,154 and $2,505) | 975,000 | 895,000 | ' | 1,049,000 | ' | 4,370,000 | ' | 4,370,000 | ' | 5,675,000 | 6,641,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Property, net (restricted $5,231 and $5,757) | 28,457,000 | 25,820,000 | ' | 27,995,000 | ' | 18,319,000 | ' | 18,319,000 | ' | 19,690,000 | 15,833,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Goodwill and intangibles, net | ' | ' | ' | ' | ' | 5,185,000 | ' | 5,185,000 | ' | 6,215,000 | 7,556,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Other noncurrent assets | 385,000 | 801,000 | ' | 56,000 | ' | 24,000 | ' | 24,000 | ' | 54,000 | 21,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total assets | 47,006,000 | 41,826,000 | ' | 52,232,000 | ' | 28,376,000 | ' | 28,376,000 | ' | 32,196,000 | 33,341,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Current liabilities | 15,533,000 | 19,208,000 | ' | 15,604,000 | ' | 6,007,000 | ' | 6,007,000 | ' | 5,141,000 | 3,851,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Current portion of long-term debt (nonrecourse) | 8,003,000 | 9,422,000 | ' | 6,792,000 | ' | 7,679,000 | ' | 7,679,000 | ' | 7,013,000 | 5,469,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long-term debt, less current portion (nonrecourse) | 11,581,000 | 12,355,000 | ' | 7,933,000 | ' | 7,126,000 | ' | 7,126,000 | ' | 7,454,000 | 6,361,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Other noncurrent liabilities | ' | ' | ' | ' | ' | 93,000 | ' | 93,000 | ' | 1,871,000 | 3,766,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total liabilities | 33,308,000 | 38,164,000 | ' | 28,600,000 | ' | 20,905,000 | ' | 20,905,000 | ' | 21,479,000 | 19,447,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Restricted portion of other current assets | ' | ' | ' | ' | ' | 2,154,000 | ' | 2,154,000 | ' | 2,505,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Variable interest entity restricted portion of property, net | ' | ' | ' | ' | ' | 5,231,000 | ' | 5,231,000 | ' | 5,757,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Summary of changes for redeemable noncontrolling interest [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Redeemable noncontrolling interest in Nutra SA, beginning of period | 9,918,000 | 7,488,000 | ' | ' | ' | ' | ' | 9,262,000 | 9,918,000 | 9,918,000 | ' | 7,836,000 | 8,340,000 | 9,918,000 | 0 | 9,918,000 | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Investors' interest in net loss of Nutra SA | ' | ' | ' | ' | ' | ' | ' | -1,633,000 | -1,184,000 | ' | ' | -605,000 | -212,000 | -1,627,000 | -776,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Investors' interest in other comprehensive loss of Nutra SA | ' | ' | ' | ' | ' | ' | ' | -441,000 | -469,000 | ' | ' | -43,000 | 137,000 | -529,000 | -931,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Investor's purchase of additional units of Nutra SA | ' | ' | ' | ' | ' | ' | ' | 300,000 | 0 | ' | ' | 300,000 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Redeemable noncontrolling interest in Nutra SA, end of period | 9,262,000 | 7,488,000 | ' | ' | ' | 7,488,000 | ' | 7,488,000 | 8,265,000 | 9,262,000 | ' | 7,488,000 | 8,265,000 | 9,262,000 | 9,918,000 | 9,918,000 | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Ownership percentage of noncontrolling owner (in hundredths) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 49.70% | 49.00% | 49.00% | 49.00% | 49.00% | 45.20% | 35.60% | 35.60% | ' | 49.10% | ' |
Cash transferred to Nutra SA | ' | ' | ' | ' | ' | 100,000 | 700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 300,000 | ' |
Yield earned beginning in January, 2014 (in hundredths) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Distributable cash terms | '(i) first, to the Investors in an amount equal to 2.3 times the Investors' capital contribution, less the aggregate amount of distributions paid to the Investors, (ii) second, to us in an amount equal to (i) two times the capital contributions made by us, less the aggregate amount of distributions paid to us; and (iii) third, to us and the Investors in proportion to our respective membership interests. | ' | ' | ' | ' | ' | ' | '(i) first, to the Investors in an amount equal to an amount (Preference Multiple) times the Investorsb capital contributions, less the aggregate amount of distributions paid to the Investors, (ii) second, to us in an amount equal to two times the capital contributions made by us, less the aggregate amount of distributions paid to us; and (iii) third, to us and the Investors in proportion to our respective membership interests. | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Preference multiple | ' | ' | ' | ' | ' | 2.5 | ' | 2.5 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2.3 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2 |
Additional contributions by investors | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 300,000 | ' | ' | ' | ' | ' | ' | ' | 900,000 | 900,000 | ' |
Parent Company contribution to Nutra SA (in hundredths) | ' | 90.00% | ' | ' | ' | 90.00% | ' | 90.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Terms of default | 'A Nutra SA business plan deviation, defined as the occurrence, in either 2012, 2013 or 2014, of a 20% unfavorable variation in two out of three of the following: (i) revenue, (ii) earnings before interest, taxes, depreciation and amortization (EBITDA) or (iii) debt,B7A Nutra SA EBITDA default, which is defined as the failure to achieve 85% of planned EBITDA for three consecutive quarters, orB7A material problem, which is defined as a material problem in a facility (unrelated to changes in law, weather, etc.) likely to cause a Nutra SA business plan deviation or Nutra SA EBITDA default, which results in damages not at least 80% covered by insurance proceeds. | ' | ' | ' | ' | ' | ' | 'A Nutra SA business plan deviation, defined as the occurrence, for either 2013 or 2014, of a 20% unfavorable variation in two out of three of the following: (i) revenue, (ii) earnings before interest, taxes, depreciation and amortization (EBITDA) or (iii) debt, A Nutra SA EBITDA default, which is defined as the failure to achieve 85% of planned EBITDA for three consecutive quarters, or A material problem, which is defined as a material problem in a facility (unrelated to changes in law, weather, etc.) likely to cause a Nutra SA business plan deviation or Nutra SA EBITDA default, which results in damages not at least 80% covered by insurance proceeds. | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Minimum amount for Parent Company to invest before current year end | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,000,000 | ' | 3,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,000,000 |
Amount to be distributed as a multiple of Investor's capital contribution | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Historical cost of equipment returned | ' | ' | ' | ' | ' | ' | ' | ' | ' | 200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of representatives in management committee | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3 | ' | 3 | ' | ' | ' | ' | 2 | 2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of representatives in management committee upon default | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2 | ' | 2 | ' | ' | ' | ' | 3 | 3 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Threshold percentage of planned EBITDA for default calculation (in hundredths) | ' | ' | ' | ' | ' | ' | ' | 20.00% | ' | 85.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Threshold percentage of damages not covered by insurance proceeds for a material problem, minimum (in hundredths) | ' | ' | ' | ' | ' | ' | ' | 85.00% | ' | 80.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Threshold percentage of unfavorable variance for default calculation (in hundredths) | ' | ' | ' | ' | ' | ' | ' | 80.00% | ' | 20.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Terms of qualifying event | 'Any event prior to September 16, 2014, which results, or will result in, (i) a person or group of persons exercising the right to appoint members to our board of directors holding one third or more of the votes of all board members, (ii) the sale, exchange, pledge or use as guarantee of one half of our ownership interest in Nutra SA to a third party or (iii) the bankruptcy of RiceBran Technologies or Nutra SA. | ' | ' | ' | ' | ' | ' | 'Any event prior to September 16, 2014, which results, or will result in, (i) a person or group of persons exercising the right to appoint members to our board of directors holding one third or more of the votes of all board members, (ii) the sale, exchange, pledge or use as guarantee of one half or more of our ownership interest in Nutra SA to a third party or (iii) the bankruptcy of RiceBran Technologies or Nutra SA. | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Maximum share ownership percentage (in hundredths) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 25.00% | 25.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Drag Along Right termination amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $50,000,000 | $50,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
INVENTORIES_Details_10Q
INVENTORIES (Details) (10-Q) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
In Thousands, unless otherwise specified | |||
INVENTORIES [Abstract] | ' | ' | ' |
Finished goods | $1,096 | $1,146 | $906 |
Work in process | 61 | 330 | 804 |
Raw materials | 170 | 255 | 353 |
Packaging supplies | 233 | 263 | 234 |
Total inventories | $1,560 | $1,994 | $2,297 |
PROPERTY_Details_10Q
PROPERTY (Details) (10-Q) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Property, gross | $39,758,000 | $40,890,000 | $39,405,000 |
Less accumulated depreciation | 13,938,000 | 12,433,000 | 11,410,000 |
Property, net | 25,820,000 | 28,457,000 | 27,995,000 |
Amount payable for capital expansion project additions | 600,000 | ' | ' |
Land [Member] | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Property, gross | 389,000 | 403,000 | 420,000 |
Furniture and Fixtures [Member] | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Property, gross | 357,000 | 358,000 | 363,000 |
Plant [Member] | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Property, gross | 14,964,000 | 14,362,000 | 14,122,000 |
Computer and Software [Member] | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Property, gross | 1,452,000 | 1,407,000 | 1,352,000 |
Leasehold Improvements [Member] | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Property, gross | 200,000 | 189,000 | 189,000 |
Machinery and Equipment [Member] | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Property, gross | 15,298,000 | 15,053,000 | 17,249,000 |
Construction in Progress [Member] | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Property, gross | $7,098,000 | $9,118,000 | $5,710,000 |
EQUITY_METHOD_INVESTMENT_Detai
EQUITY METHOD INVESTMENT (Details) (10-Q) (USD $) | 9 Months Ended | 12 Months Ended |
In Millions, unless otherwise specified | Sep. 30, 2013 | Dec. 31, 2012 |
EQUITY METHOD INVESTMENT [Abstract] | ' | ' |
Payment to partner for termination of agreement | ' | $1.20 |
Schedule of Equity Method Investments [Line Items] | ' | ' |
Membership interest sold (in hundredths) | 50.00% | ' |
Percentage right to purchase capital stock (in hundredths) | 45.00% | ' |
Sales proceeds from membership interest | $1.20 | ' |
Percentage of capital stock to be purchased in case of decline of right (in hundredths) | 25.00% | ' |
Period considered for purchase of capital stock in case of decline of right | '2 years | ' |
Exercise price for option as percentage of capital investment (in hundredths) | 25.00% | ' |
DEBT_Details_10Q
DEBT (Details) (10-Q) | 3 Months Ended | 12 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 9 Months Ended | 12 Months Ended | 3 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | 3 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | 3 Months Ended | 6 Months Ended | 3 Months Ended | 6 Months Ended | 9 Months Ended | 1 Months Ended | 3 Months Ended | 9 Months Ended | 9 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||
Sep. 30, 2013 | Jun. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Sep. 30, 2013 | Mar. 31, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | 31-May-13 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Jun. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2011 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2012 | Jun. 30, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Oct. 31, 2013 | 31-May-13 | Sep. 30, 2013 | Jun. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | |
USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | Holder 1 [Member] | Holder 2 [Member] | Holder 2 [Member] | Corporate Segment [Member] | Corporate Segment [Member] | Brazil Segment [Member] | Brazil Segment [Member] | Brazil Segment [Member] | Brazil Segment [Member] | Convertible Debt [Member] | Subordinated Convertible Notes, Net [Member] | Subordinated Convertible Notes, Net [Member] | Subordinated Convertible Notes, Net [Member] | Senior Convertible Debentures, Net [Member] | Senior Convertible Debentures, Net [Member] | Senior Convertible Debentures, Net [Member] | Senior Convertible Debentures, Net [Member] | Senior Convertible Debentures, Net [Member] | Senior Convertible Debentures, Net [Member] | Senior Convertible Debentures, Net [Member] | Senior Convertible Debentures, Net [Member] | Senior Convertible Debentures, Net [Member] | Factoring Agreement [Member] | Capital Expansion Loans [Member] | Capital Expansion Loans [Member] | Capital Expansion Loans [Member] | Equipment Financing [Member] | Equipment Financing [Member] | Equipment Financing [Member] | Equipment Financing [Member] | Equipment Financing [Member] | Working Capital Lines of Credit [Member] | Working Capital Lines of Credit [Member] | Working Capital Lines of Credit [Member] | Working Capital Lines of Credit [Member] | Working Capital Lines of Credit [Member] | Working Capital Lines of Credit [Member] | Working Capital Lines of Credit [Member] | Working Capital Lines of Credit [Member] | Advances on Export Letter of Credit [Member] | Advances on Export Letter of Credit [Member] | Advances on Export Letter of Credit [Member] | Advances on Export Letter of Credit [Member] | Advances on Export Letter of Credit [Member] | Special Tax Programs [Member] | Special Tax Programs [Member] | Special Tax Programs [Member] | Subordinated Convertible Notes and Warrants [Member] | Subordinated Convertible Notes and Warrants [Member] | Subordinated Convertible Notes and Warrants [Member] | Subordinated Convertible Notes and Warrants [Member] | Subordinated Convertible Notes and Warrants [Member] | Subordinated Convertible Notes and Warrants [Member] | Subordinated Convertible Notes and Warrants [Member] | Subordinated Convertible Notes and Warrants [Member] | Subordinated Convertible Notes and Warrants [Member] | Promissory Note [Member] | Subordinated Convertible Notes [Member] | Subordinated Convertible Notes [Member] | Other [Member] | Other [Member] | Senior Revolving Credit Agreement [Member] | Senior Revolving Credit Agreement [Member] | Senior Revolving Credit Agreement [Member] | Senior Revolving Credit Agreement [Member] | Senior Revolving Credit Agreement [Member] | Senior Convertible Revolving Note, Net [Member] | Senior Convertible Revolving Note, Net [Member] | Senior Convertible Debentures, Net [Member] | Subordinated Convertible Notes, Net [Member] | Subordinated Convertible Notes, Net [Member] | |
USD ($) | USD ($) | USD ($) | USD ($) | BRL | USD ($) | USD ($) | Corporate Segment [Member] | USD ($) | April 2013 [Member] | Halpern Entities [Member] | USD ($) | USD ($) | USD ($) | Holder 1 [Member] | Holder 2 [Member] | Corporate Segment [Member] | Corporate Segment [Member] | USD ($) | Brazil Segment [Member] | Brazil Segment [Member] | Brazil Segment [Member] | Brazil Segment [Member] | Brazil Segment [Member] | Brazil Segment [Member] | Brazil Segment [Member] | Brazil Segment [Member] | USD ($) | BRL | Brazil Segment [Member] | Brazil Segment [Member] | Brazil Segment [Member] | Brazil Segment [Member] | Brazil Segment [Member] | Brazil Segment [Member] | Brazil Segment [Member] | Brazil Segment [Member] | Brazil Segment [Member] | Brazil Segment [Member] | Brazil Segment [Member] | Brazil Segment [Member] | Brazil Segment [Member] | Brazil Segment [Member] | USD ($) | April 2013 [Member] | Minimum [Member] | Maximum [Member] | Halpern Entities [Member] | Halpern Entities [Member] | Other Investors [Member] | Other Investors [Member] | Corporate Segment [Member] | USD ($) | Corporate Segment [Member] | Corporate Segment [Member] | Corporate Segment [Member] | Corporate Segment [Member] | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | Corporate Segment [Member] | Corporate Segment [Member] | Holder 1 [Member] | Corporate Segment [Member] | Corporate Segment [Member] | ||||||||||
USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | Minimum [Member] | Maximum [Member] | USD ($) | BRL | USD ($) | USD ($) | Minimum [Member] | Maximum [Member] | USD ($) | USD ($) | USD ($) | Minimum [Member] | Maximum [Member] | USD ($) | USD ($) | USD ($) | USD ($) | April 2013 [Member] | April 2013 [Member] | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | Halpern Entities [Member] | Other Investors [Member] | USD ($) | USD ($) | Tranche | Tranche | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | |||||||||||||||||||||||||||||
USD ($) | USD ($) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total debt | $21,777,000 | ' | ' | $19,584,000 | $14,725,000 | ' | ' | ' | $6,972,000 | $5,117,000 | $14,805,000 | ' | $14,467,000 | $11,830,000 | $6,934,000 | $1,608,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | $96,000 | $1,048,000 | ' | $5,555,000 | $5,021,000 | $3,789,000 | $201,000 | $210,000 | $214,000 | ' | ' | ' | ' | $3,767,000 | ' | $2,227,000 | $1,778,000 | ' | ' | $3,953,000 | $3,189,000 | $2,838,000 | ' | ' | $2,618,000 | $2,531,000 | $3,211,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $3,397,000 | $1,833,000 | $38,000 | $28,000 | ' | ' | ' | ' | ' | $1,608,000 | $0 | ' | $5,230,000 | $4,041,000 |
Current portion | 9,422,000 | ' | ' | 8,003,000 | 6,792,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,704,000 | 1,608,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 96,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long-term debt, less current portion | 12,355,000 | ' | ' | 11,581,000 | 7,933,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5,230,000 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,397,000 | 1,833,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Components of convertible debt [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Principal outstanding | ' | ' | ' | 21,169,000 | ' | ' | ' | ' | ' | ' | ' | ' | 14,467,000 | ' | 7,674,000 | 1,558,000 | 4,325,000 | ' | ' | ' | ' | ' | ' | ' | ' | 97,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 538,000 | ' | ' | ' | ' | ' | ' | ' | ' | 2,600,000 | 3,419,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Discount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -3,933,000 | -41,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | -3,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -470,000 | -3,419,000 | ' | ' | ' | ' | -100,000 | ' | -100,000 | ' | ' | ' | ' | ' |
Derivative conversion liabilities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,193,000 | 91,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,267,000 | 1,833,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt | 21,777,000 | ' | ' | 19,584,000 | 14,725,000 | ' | ' | ' | 6,972,000 | 5,117,000 | 14,805,000 | ' | 14,467,000 | 11,830,000 | 6,934,000 | 1,608,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 96,000 | 1,048,000 | ' | 5,555,000 | 5,021,000 | 3,789,000 | 201,000 | 210,000 | 214,000 | ' | ' | ' | ' | 3,767,000 | ' | 2,227,000 | 1,778,000 | ' | ' | 3,953,000 | 3,189,000 | 2,838,000 | ' | ' | 2,618,000 | 2,531,000 | 3,211,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,397,000 | 1,833,000 | 38,000 | 28,000 | ' | ' | ' | ' | ' | 1,608,000 | 0 | ' | 5,230,000 | 4,041,000 |
Current portion | 9,422,000 | ' | ' | 8,003,000 | 6,792,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,704,000 | 1,608,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 96,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long-term debt, less current portion | 12,355,000 | ' | ' | 11,581,000 | 7,933,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5,230,000 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,397,000 | 1,833,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Maximum borrowing capacity | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,700,000 | ' | ' | ' | ' | ' | ' | ' | 1,800,000 | 3,600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 8,000,000 | ' | 8,000,000 | ' | ' | ' | ' | ' |
Fees under the agreement (in hundredths) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7.00% | ' | ' | ' | ' | ' |
Minimum cumulative repayments, March 2014 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 600,000 | ' | 600,000 | ' | ' | ' | ' | ' |
Minimum cumulative repayments, June 2014 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,300,000 | ' | 1,300,000 | ' | ' | ' | ' | ' |
Minimum cumulative repayments, September 2014 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,200,000 | ' | 2,200,000 | ' | ' | ' | ' | ' |
Collections that may be withheld (in hundredths) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 20.00% | ' | 20.00% | ' | ' | ' | ' | ' |
Proceeds from Lines of Credit, Gross | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 800,000 | 1,400,000 | 600,000 | ' | ' | ' | ' | ' | ' | ' |
Amount received | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,000,000 | 2,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 700,000 | 1,200,000 | 600,000 | ' | ' | ' | ' | ' | ' | ' |
Extinguishment of debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 300,000 | ' | ' | ' | ' | ' | ' | ' | ' | 100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 400,000 | 100,000 | ' | ' | ' | ' | ' | ' | ' |
Value of additional units purchased | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 300,000 | 500,000 | ' | ' | ' | ' | ' | 400,000 | ' | ' |
Issue of shares of common stock (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6,667 | 10,593 | 20,000 | ' | 30,593 | ' | ' | ' | ' | ' |
Market value of shares of common stock issued | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100,000 | 200,000 | 200,000 | ' | ' | ' | ' | ' | ' | ' |
Stock issuance price (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $16 | ' | $16 | ' | ' | ' | ' | ' |
Outstanding principal amount of debentures converted | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 300,000 | 100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of common stock (in shares) | ' | ' | ' | ' | ' | 5,000 | ' | 3,026 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 21,429 | 7,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Conversion price (in dollars per share) | ' | ' | ' | $0.08 | $0.21 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.07 | $14 | $0.07 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of Shares Under Warrant (in shares) | ' | ' | ' | ' | 22,766 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 38,400 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,429 | 6,000 | 2,571 | ' | 2,571 | ' | ' | ' | ' | ' |
Exercise price per warrant (in dollars per share) | ' | ' | ' | ' | ' | ' | $16 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $16 | $16 | $0.08 | ' | ' | ' | ' | ' | ' | ' |
Transaction closing costs | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100,000 | 500,000 | 300,000 | ' | ' | ' | ' | ' | ' | ' |
Transaction closing costs, cash expenses | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100,000 | 300,000 | 100,000 | ' | ' | ' | ' | ' | ' | ' |
Transaction closing costs, Amortized to interest expense | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 200,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Average outstanding amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,500,000 | 500,000 | ' | ' | ' | ' | ' | ' |
Terms of Conversion Feature | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 'In May 2013, we entered into agreements to allow each holder of existing subordinated convertible notes and warrants to invest in additional notes and related warrants and provided that each holder making an additional investment (i) receive 0.0125 shares of our common stock for each dollar invested and (ii) agree to extend the maturity date for all of their notes to July 2016. Further, each holder of outstanding convertible notes could elect (PIK Election), in lieu of receiving cash interest payments otherwise payable though June 2014 on their existing convertible notes to receive (i) an increase in the number of shares of common stock underlying their notes (ii) an equity warrant to purchase shares of our common stock and (ii) 0.0125 shares of our common stock for each dollar of interest otherwise payable through June 2014. Holders making an additional investment were deemed under the agreement to have made a PIK Election. | ' | ' | '(i) the current debenture conversion price or (ii) 80% of the 20-day volume weighted average trading price of our common stock or (iii) the volume weighted average trading price of our common stock on the day immediately prior to the redemption date less $0.01. | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 'Upon an event of default, as defined in the agreement, TCA has the right to voluntarily convert all or any portion of the outstanding principal, interest and other amounts due under the agreement into shares of our common stock at a conversion price equal to 85% of the lowest daily volume weighted average price during the five trading days immediately prior to the conversion date. Because the conversion feature could require us to issue an indeterminate number of shares for settlement, the conversion feature is a derivative liability, classified as debt on our balance sheets. If TCA voluntarily converts, we have guaranteed that TCA will realize a minimum per share, when shares of our common stock issued in connection with the conversion are sold, equal to the volume weighted average price of our common stock during the five trading days immediately prior to the conversion date. | ' | ' | ' | ' | ' |
Conversion price upone default (in hundredths) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 85.00% | ' | 85.00% | ' | ' | ' | ' | ' |
Debt covenant description | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 'During the term of the agreement, the USA segment may not without TCAbs consent or approval, among other things, (i) enter into new debt (ii) make any new investments, except capital expenditures less than $0.3 million per year, (iii) issue or redeem stock, (iii) declare or pay dividends or make other distributions to shareholders, and (iv) make loans and distributions of assets to an persons, including affiliates. | ' | ' | ' | ' | ' |
Shares issuable on conversion (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 18,571 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Market value of common stock issued | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Principal amount of debt with maturity extension | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 200,000 | ' | 200,000 | ' | ' | 1,100,000 | 300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Principal Amount of Notes and Debenture | ' | ' | ' | 21,169,000 | ' | ' | ' | ' | ' | ' | ' | ' | 14,467,000 | ' | 7,674,000 | 1,558,000 | 4,325,000 | ' | ' | ' | ' | ' | ' | ' | ' | 97,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 538,000 | ' | ' | ' | ' | ' | ' | ' | ' | 2,600,000 | 3,419,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Creditor's Debt Conversion Right (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $14 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stated annual interest rate (in hundredths) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6.50% | ' | 6.50% | ' | ' | ' | 13.50% | 21.50% | ' | ' | ' | ' | ' | ' | 12.40% | 44.50% | ' | ' | ' | 3.70% | 8.00% | ' | 7.30% | ' | ' | 10.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 12.00% | ' | 12.00% | ' | ' | ' | ' | ' |
Maturity Date of Debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 30-Jun-18 | 30-Jun-18 | ' | ' | ' | ' | 31-Jul-15 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 31-Dec-21 | ' | ' | 31-Mar-16 | ' | ' | ' | ' | 31-May-14 | 31-May-14 | ' | ' | ' | ' | ' | ' | 31-Jul-13 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 31-Jul-15 | 31-Jul-16 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Exercisable Price of Warrant | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 'Exercisable immediately at $16.00 per share | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Expiration Date of Warrant | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 31-Jul-17 | 31-May-18 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Required number of days notice prior to conversion or exercise | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '61 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Minimum beneficial ownership interest to be required to give notice prior to conversion or exercise (in hundredths) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4.99% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds from issuance of the convertible notes and related warrants | ' | ' | 3,563,000 | 3,563,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 94,000 | -7,000 | 843,000 | 1,786,000 | 500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Principal amount of promissory note to Mr. Halpern | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Monthly installment interest rate, annual rate (in hundredths) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 12.00% | 12.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 17.00% | 17.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fair value of conversion features | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fair value of liability warrants | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Restricted cash | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 500,000 | 1,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Taxes payable converted into debt agreement | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Maximum outstanding borrowings | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,800,000 | ' | 2,800,000 | ' | ' | ' | ' | ' |
Fair value of warrants | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100,000 | 100,000 | 100,000 | ' | 100,000 | ' | ' | ' | ' | ' |
Maximum fair value | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100,000 | ' | 100,000 | ' | 100,000 | ' | ' | ' | ' | ' |
Guaranteed minimum value of stock issued in connection with the three tranches | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 500,000 | ' | 500,000 | ' | ' | ' | ' | ' |
Total temporary equity recorded | 7,886,000 | ' | ' | 9,262,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 400,000 | ' | 400,000 | ' | ' | ' | ' | ' |
Number of tranches related to TCA | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3 | ' | 3 | ' | ' | ' | ' | ' |
Conversion liability | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100,000 | ' | 100,000 | ' | ' | ' | ' | ' |
Debt discounts | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,933,000 | 41,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 470,000 | 3,419,000 | ' | ' | ' | ' | 100,000 | ' | 100,000 | ' | ' | ' | ' | ' |
Maximum amount of capital expenditures allowed per year | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 300,000 | ' | 300,000 | ' | ' | ' | ' | ' |
Increase in shares of common stock underlying PIK warrant (in shares) | 3,263 | 4,346 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Increase in shares of common stock underlying notes (in shares) | 3,263 | 4,346 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Increase in note principle under PIK election | $45,688 | $60,842 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
PREPETITION_LIABILITIES_Detail
PRE-PETITION LIABILITIES (Details) (10-Q) (USD $) | 1 Months Ended |
In Millions, unless otherwise specified | Jan. 31, 2012 |
PRE-PETITION LIABILITIES [Abstract] | ' |
Distribution to general unsecured creditors | $1.60 |
EMPLOYEE_BONUS_PLAN_Details_101
EMPLOYEE BONUS PLAN (Details) (10-Q) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
EMPLOYEE BONUS PLAN [Abstract] | ' | ' | ' |
Cash incentive bonus plan, amount approved | $600,000 | $500,000 | ' |
Approved executive bonus plan | 300,000 | ' | ' |
Employee bonus accrued | $0 | $0 | $0 |
COMMITMENTS_AND_CONTINGENCIES_3
COMMITMENTS AND CONTINGENCIES (Details) (10-Q) | 9 Months Ended | 9 Months Ended | |||||||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Feb. 06, 2009 | Jan. 31, 2008 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 |
USD ($) | BRL | Sellers [Member] | Sellers [Member] | Sellers [Member] | Sellers [Member] | Sellers [Member] | Diabco Life Sciences, LLC [Member] | Diabco Life Sciences, LLC [Member] | Pending Litigation [Member] | Pending Litigation [Member] | |
USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | Former Irgovel Stockholder David Resyng [Member] | Former Irgovel Stockholder David Resyng [Member] | |||
USD ($) | USD ($) | ||||||||||
Loss Contingencies [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Damages sought by plaintiff | ' | ' | ' | ' | ' | ' | ' | ' | $0.50 | $3 | $3 |
Amount of second installment on purchase agreement being withheld | ' | ' | ' | 1 | ' | 1 | ' | ' | ' | ' | ' |
Amount held in escrow | ' | ' | 1.9 | 1.9 | 1.9 | 2 | 2 | ' | ' | ' | ' |
Amount of escrow liability in accrued expenses | ' | ' | 1.3 | 1.4 | 1.9 | ' | ' | ' | ' | ' | ' |
Pre-acquisition contingencies | ' | ' | 0.7 | 0.6 | ' | ' | ' | ' | ' | ' | ' |
Escrow balance available to settle remaining contingencies | ' | ' | 1.4 | 1.4 | ' | ' | ' | ' | ' | ' | ' |
Parent Company contribution to Nutra SA (in hundredths) | 90.00% | 90.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Future capital expenditures | 1.1 | 2.5 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Future capital expenditures included in accounts payable | 0.6 | 1.3 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Future capital expenditure contract | 0.4 | 1 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Period of court trial | ' | ' | ' | ' | ' | ' | ' | '1 day | ' | ' | ' |
Total damages stipulated by defendant | ' | ' | ' | ' | ' | ' | ' | 0.9 | ' | ' | ' |
Damages expected to be awarded by court | ' | ' | ' | ' | ' | ' | ' | $0.90 | ' | ' | ' |
EQUITY_SHAREBASED_COMPENSATION2
EQUITY, SHARE-BASED COMPENSATION AND LIABILITY WARRANTS (Details) (10-Q) (USD $) | 1 Months Ended | 3 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | 3 Months Ended | 9 Months Ended | 12 Months Ended | 1 Months Ended | 9 Months Ended | 12 Months Ended | 1 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | |||||||||||||||||||||||||||||||||||||
In Thousands, except Share data, unless otherwise specified | Oct. 31, 2013 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Apr. 30, 2013 | Mar. 31, 2011 | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Apr. 30, 2013 | Apr. 30, 2013 | Apr. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Sep. 30, 2013 | Apr. 30, 2013 | Jan. 31, 2013 | Apr. 30, 2013 | Jan. 31, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |||||||
Director | Director | $14.00-$16.00 [Member] | $46.00 [Member] | $66.00 [Member] | $138.00 [Member] | Equity Warrant [Member] | Equity Warrant [Member] | Equity Warrant [Member] | Equity Warrant [Member] | Equity Warrant [Member] | Equity Warrant [Member] | Liability Warrant [Member] | Liability Warrant [Member] | Liability Warrant [Member] | Liability Warrant [Member] | Liability Warrant [Member] | Each Non-employee Director [Member] | Director Serving on Strategic Committee [Member] | Options [Member] | Options [Member] | Options [Member] | Options [Member] | Options [Member] | Options [Member] | Options [Member] | Warrants [Member] | Warrants [Member] | Warrants [Member] | Warrants [Member] | Warrants [Member] | Warrants [Member] | Warrants [Member] | Warrants [Member] | Warrants [Member] | Warrants [Member] | Warrants [Member] | 2010 Plan [Member] | 2010 Plan [Member] | 2010 Plan [Member] | 2010 Plan [Member] | 2010 Plan [Member] | Common Stock [Member] | Common Stock [Member] | Common Stock [Member] | Accumulated Deficit [Member] | Accumulated Deficit [Member] | Accumulated Deficit [Member] | Accumulated Other Comprehensive Loss [Member] | Accumulated Other Comprehensive Loss [Member] | Accumulated Other Comprehensive Loss [Member] | |||||||||||||
$16.00 [Member] | $16.00 [Member] | $46.00 [Member] | $46.00 [Member] | $138.00 [Member] | $138.00 [Member] | $14.00-$16.00 [Member] | $14.00-$16.00 [Member] | $16.00 [Member] | $66.00 [Member] | $66.00 [Member] | Director | Director Serving on Strategic Committee [Member] | Director Serving on Strategic Committee [Member] | Equity Warrant [Member] | Equity Warrant [Member] | Equity Warrant [Member] | Liability Warrant [Member] | Liability Warrant [Member] | Liability Warrant [Member] | Each Non-employee Director [Member] | Options [Member] | Options [Member] | Options [Member] | Options [Member] | |||||||||||||||||||||||||||||||||||||||
Maximum [Member] | Each Non-employee Director [Member] | Each Non-employee Director [Member] | Each Non-employee Director [Member] | Each Non-employee Director [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maximum [Member] | Maximum [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Balance at beginning of period | ($4,224) | ' | ' | $4,436 | $13,714 | $13,714 | $22,390 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $210,396 | $209,613 | $207,432 | ($204,420) | ($194,911) | ($184,812) | ($1,540) | ($988) | ($74) | |||||||
Balance at beginning of period (in shares) | 1,103,597 | ' | ' | 1,038,080 | 1,006,323 | 1,006,323 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,038,080 | 1,006,323 | 976,796 | ' | ' | ' | ' | ' | ' | |||||||
Share-based compensation | ' | ' | ' | 380 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 380 | ' | ' | 0 | ' | ' | 0 | ' | ' | |||||||
Conversion of senior subordinated debenture | ' | ' | ' | 500 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 500 | ' | ' | 0 | ' | ' | 0 | ' | ' | |||||||
Conversion of senior subordinated debenture (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 28,429 | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Common stock issued for services | ' | ' | ' | 613 | ' | 228 | 568 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 613 | 228 | 568 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||
Common stock issued for services, (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 37,088 | 8,972 | 16,867 | ' | ' | ' | ' | ' | ' | |||||||
Warrants issued fees and services | ' | ' | ' | 156 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 156 | ' | ' | 0 | ' | ' | 0 | ' | ' | |||||||
Warrants issued fees and services (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Foreign currency translation | ' | ' | ' | -458 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | 0 | ' | ' | -458 | ' | ' | |||||||
Net loss | ' | -2,071 | -368 | -9,851 | -9,398 | -9,509 | -10,099 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | -9,851 | -9,509 | -10,099 | 0 | 0 | 0 | |||||||
Balance at end of period | ' | ($4,224) | ' | ($4,224) | ' | $4,436 | $13,714 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $212,045 | $210,396 | $209,613 | ($214,271) | ($204,420) | ($194,911) | ($1,998) | ($1,540) | ($988) | |||||||
Balance at end of period (in shares) | ' | 1,103,597 | ' | 1,103,597 | ' | 1,038,080 | 1,006,323 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,103,597 | 1,038,080 | 1,006,323 | ' | ' | ' | ' | ' | ' | |||||||
Shares Under Options, Outstanding [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Outstanding at beginning of period (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 227,426 | 169,254 | 192,944 | 227,426 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Granted (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 37,500 | [1] | 29,060 | 26,022 | ' | ' | 1,250 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,750 | 1,250 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||
Impact of anti-dilution clauses (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Exercised (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Forfeited, expired or cancelled (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -30,000 | -27,551 | -52,750 | -60,504 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Outstanding at end of period (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 179,203 | 169,254 | 192,944 | 227,426 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Exercisable at end of period (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 144,887 | 143,522 | 138,438 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Options, Weighted Average Exercise Price [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Outstanding at beginning of period (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $60 | $32 | $54 | $60 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Granted (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $16 | [1] | $30 | $44 | ' | $16 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $16 | $16 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||
Impact of anti-dilution clauses (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Exercised (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $28 | ' | ' | $0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Forfeited, expired or cancelled (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $60 | $54 | $68 | $72 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Outstanding at end of period (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $24.40 | $32 | $54 | $60 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Exercisable at end of period (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $26 | $34 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Options, Additional Disclosures [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Outstanding, weighted average remaining contractual life | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '6 years 4 months 24 days | '6 years 3 months 18 days | '6 years 3 months 18 days | '6 years 9 months 18 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Exercisable, weighted average remaining contractual life | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '5 years 10 months 24 days | '5 years 10 months 24 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Shares Under Warrants [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Outstanding at beginning of period (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 806,769 | 233,947 | 202,148 | ' | 17,372 | 2,727 | ' | 216,575 | 199,421 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Granted (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 54,581 | [1] | 423,782 | 25,794 | ' | 0 | 25,795 | ' | 423,782 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||
Impact of anti-dilution clauses (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,082 | 518,720 | 31,517 | ' | 0 | 0 | ' | 518,720 | 31,516 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Exercised (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | -25,015 | 0 | ' | 0 | 0 | ' | -25,015 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Forfeited, expired or cancelled (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -146,106 | -146,106 | -22,880 | -25,512 | ' | -11,616 | -11,150 | ' | -411,264 | -14,362 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Outstanding at end of period (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 717,326 | 806,769 | 233,947 | 202,148 | 5,756 | 17,372 | 2,727 | 801,013 | 216,575 | 199,421 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Exercisable at end of period (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 717,326 | 713,969 | ' | ' | 5,756 | ' | ' | 708,213 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Equity and Liability Warrants Outstanding, Weighted Average Exercise Price [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Outstanding at beginning of period (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $24 | $208 | $54 | ' | $60 | $138 | ' | $220 | $256 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Granted (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $16 | [1] | $20 | $46 | ' | $0 | $46 | ' | $20 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||
Impact of anti-dilution clauses (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Exercised (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0 | $20 | ' | ' | $0 | ' | ' | $20 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Forfeited, expired or cancelled (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $66 | $86 | $148 | ' | $44 | $46 | ' | $88 | $226 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Outstanding at end of period (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $16 | $24 | $208 | $54 | $90 | $60 | $138 | $24 | $220 | $256 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Exercisable at end of period (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $16 | $26 | ' | ' | $90 | ' | ' | $24 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Equity and Liability Warrants, Additional Disclosures [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Outstanding, weighted average remaining contractual life | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '3 years 7 months 6 days | '3 years 6 months | '1 year 8 months 12 days | '2 years 3 months 18 days | '2 years 4 months 24 days | '3 years 6 months | '2 years 9 months 18 days | '3 years 6 months | '1 year 6 months | '2 years 3 months 18 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Exercisable, weighted average remaining contractual life | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '3 years 7 months 6 days | '3 years 3 months 18 days | ' | ' | '2 years 4 months 24 days | ' | ' | '3 years 3 months 18 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Common stock, shares authorized (in shares) | ' | 6,000,000 | ' | 6,000,000 | ' | 2,500,000 | 2,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Initially reserved (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 125,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,250 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Number of shares reserved after increment (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Number of non-employee directors | ' | 5 | ' | 5 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Vesting period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '12 months | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '9 months | '12 months | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Expiration date | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 30-Apr-18 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 18-Apr-23 | 31-Jan-23 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Reverse stock split | '200 to 1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Number of directors on Strategic Committee | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Summary of information related to outstanding and exercisable warrants [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Exercise price range, lower range limit (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | $14 | ' | ' | ' | ' | ' | ' | ' | ' | ' | $14 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Exercise price range, upper range limit (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | $16 | $46 | $66 | $138 | $16 | ' | $46 | ' | $138 | ' | $16 | ' | $16 | [2] | $66 | [3] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Shares under warrants - outstanding (in shares) | ' | 17,327 | ' | 17,327 | ' | 806,769 | ' | 656,990 | 3,029 | 144,023 | 2,727 | 12,176 | 0 | 3,029 | 3,029 | 2,727 | 2,727 | 695,390 | [3] | 656,990 | [3] | 4,005 | [2] | 0 | [3] | 144,023 | [3] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Weighted average exercise price - outstanding (in dollars per share) | ' | $16 | ' | $16 | ' | $24 | ' | $16 | $46 | $66 | $138 | $16 | $0 | $46 | $46 | $138 | $138 | $16 | [3] | $16 | [3] | $16 | [2] | $0 | [3] | $66 | [3] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Remaining contractual life - outstanding | ' | ' | ' | '3 years 7 months 6 days | ' | '3 years 6 months | ' | '4 years 2 months 12 days | '3 years 10 months 24 days | '0 years 3 months 18 days | '0 years 9 months 18 days | '4 years 8 months 12 days | ' | '3 years 2 months 12 days | '3 years 10 months 24 days | '0 years 1 month 6 days | '0 years 9 months 18 days | '3 years 7 months 6 days | [3] | '4 years 2 months 12 days | [3] | '4 years 9 months 18 days | [2] | ' | '0 years 3 months 18 days | [3] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
[1] | Includes adjustments to shares underlying PIK warrants. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[2] | The warrants are classified as liability warrants because an indeterminate number of shares are issuable under the TCA debt agreement. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[3] | The warrant contain full ratchet anti-dilution provisions. |
SEGMENT_INFORMATION_Details_101
SEGMENT INFORMATION (Details) (10-Q) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 |
Segment information identified and reconciliations of segment information to total consolidated information [Abstract] | ' | ' | ' | ' | ' | ' |
Revenues | $8,725 | $9,349 | $26,822 | $28,806 | $37,723 | $36,957 |
Cost of goods sold | 7,955 | 7,473 | 23,808 | 23,426 | 31,651 | 29,386 |
Gross profit | 770 | 1,876 | 3,014 | 5,380 | 6,072 | 7,571 |
Depreciation and amortization (in selling, general and administrative) | -302 | -521 | -951 | -1,691 | -2,062 | -2,651 |
Intersegment fees | ' | 0 | ' | 0 | 0 | 0 |
Impairment of property | ' | 0 | -300 | -1,069 | -1,069 | -1,592 |
Other operating expense | -3,132 | -2,709 | -8,774 | -9,229 | -11,628 | -14,712 |
Loss from operations | -2,664 | -1,354 | -6,711 | -6,609 | -8,687 | -9,584 |
Net loss attributable to RiceBran Technologies shareholders | -2,071 | -368 | -9,851 | -9,398 | -9,509 | -10,099 |
Interest expense | 1,084 | 498 | 2,879 | 1,303 | 1,926 | 1,763 |
Depreciation (in costs of goods sold) | 675 | 578 | 2,024 | 1,932 | 2,550 | 2,329 |
Purchases of property | 1,051 | 2,031 | 2,301 | 5,824 | 6,482 | 6,867 |
Segment information for selected balance sheet accounts [Abstract] | ' | ' | ' | ' | ' | ' |
Inventories | 1,560 | ' | 1,560 | ' | 1,994 | ' |
Property, net (variable interest entity restricted $5,231 and $5,757) | 25,820 | ' | 25,820 | ' | 28,457 | 27,995 |
Goodwill | 4,331 | ' | 4,331 | ' | 4,773 | 5,240 |
Intangible assets, net | 1,690 | ' | 1,690 | ' | 2,575 | 3,928 |
Total assets | 41,826 | ' | 41,826 | ' | 47,006 | 52,232 |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' | ' | ' |
Revenues | 8,725 | 9,349 | 26,822 | 28,806 | 37,723 | 36,957 |
United States [Member] | ' | ' | ' | ' | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' | ' | ' |
Revenues | 3,052 | 2,685 | 9,714 | 8,501 | ' | ' |
Brazil [Member] | ' | ' | ' | ' | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' | ' | ' |
Revenues | 4,048 | 4,626 | 13,845 | 14,397 | ' | ' |
Other International [Member] | ' | ' | ' | ' | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' | ' | ' |
Revenues | 1,625 | 2,038 | 3,263 | 5,908 | 3,280 | 8,638 |
Corporate [Member] | ' | ' | ' | ' | ' | ' |
Segment information identified and reconciliations of segment information to total consolidated information [Abstract] | ' | ' | ' | ' | ' | ' |
Revenues | 0 | 0 | 0 | 0 | 0 | 0 |
Cost of goods sold | 0 | 0 | 0 | 0 | 0 | 0 |
Gross profit | 0 | 0 | 0 | 0 | 0 | 0 |
Depreciation and amortization (in selling, general and administrative) | -6 | -175 | -17 | -246 | -197 | -119 |
Intersegment fees | ' | 57 | ' | 169 | 347 | -439 |
Impairment of property | ' | 0 | ' | 0 | 0 | -240 |
Other operating expense | -1,292 | -836 | -3,627 | -3,559 | -4,768 | -5,556 |
Loss from operations | -1,298 | -954 | -3,644 | -3,636 | -4,618 | -6,354 |
Net loss attributable to RiceBran Technologies shareholders | -1,433 | -220 | -8,255 | -7,229 | -7,046 | -6,875 |
Interest expense | 666 | 173 | 1,541 | 494 | 743 | 619 |
Depreciation (in costs of goods sold) | 0 | 0 | 0 | 0 | 0 | 0 |
Purchases of property | 6 | 0 | 12 | 0 | 1 | 0 |
Segment information for selected balance sheet accounts [Abstract] | ' | ' | ' | ' | ' | ' |
Inventories | 0 | ' | 0 | ' | 0 | ' |
Property, net (variable interest entity restricted $5,231 and $5,757) | 59 | ' | 59 | ' | 36 | 263 |
Goodwill | 0 | ' | 0 | ' | 0 | 0 |
Intangible assets, net | 0 | ' | 0 | ' | 0 | 0 |
Total assets | 3,328 | ' | 3,328 | ' | 3,201 | 4,672 |
USA [Member] | ' | ' | ' | ' | ' | ' |
Segment information identified and reconciliations of segment information to total consolidated information [Abstract] | ' | ' | ' | ' | ' | ' |
Revenues | 3,065 | 3,065 | 9,099 | 9,629 | 12,633 | 10,700 |
Cost of goods sold | 2,332 | 2,184 | 6,895 | 6,737 | 8,946 | 7,566 |
Gross profit | 733 | 881 | 2,204 | 2,892 | 3,687 | 3,134 |
Depreciation and amortization (in selling, general and administrative) | -119 | -145 | -358 | -784 | -1,006 | -1,306 |
Intersegment fees | ' | 0 | ' | 0 | 0 | 0 |
Impairment of property | ' | 0 | ' | -1,069 | -1,069 | -1,352 |
Other operating expense | -622 | -662 | -1,743 | -1,959 | -2,364 | -3,728 |
Loss from operations | -8 | 74 | 103 | -920 | -752 | -1,452 |
Net loss attributable to RiceBran Technologies shareholders | -8 | 73 | 103 | -937 | -770 | -1,631 |
Interest expense | 0 | 0 | 0 | 17 | 17 | 180 |
Depreciation (in costs of goods sold) | 207 | 179 | 665 | 714 | 899 | 993 |
Purchases of property | 19 | 6 | 147 | 72 | 150 | 98 |
Segment information for selected balance sheet accounts [Abstract] | ' | ' | ' | ' | ' | ' |
Inventories | 885 | ' | 885 | ' | 764 | ' |
Property, net (variable interest entity restricted $5,231 and $5,757) | 7,442 | ' | 7,442 | ' | 8,731 | 11,899 |
Goodwill | 0 | ' | 0 | ' | 0 | 0 |
Intangible assets, net | 836 | ' | 836 | ' | 1,133 | 1,612 |
Total assets | 10,122 | ' | 10,122 | ' | 11,609 | 14,219 |
Brazil [Member] | ' | ' | ' | ' | ' | ' |
Segment information identified and reconciliations of segment information to total consolidated information [Abstract] | ' | ' | ' | ' | ' | ' |
Revenues | 5,660 | 6,284 | 17,723 | 19,177 | 25,090 | 26,257 |
Cost of goods sold | 5,623 | 5,289 | 16,913 | 16,689 | 22,705 | 21,820 |
Gross profit | 37 | 995 | 810 | 2,488 | 2,385 | 4,437 |
Depreciation and amortization (in selling, general and administrative) | -177 | -201 | -576 | -661 | -859 | -1,226 |
Intersegment fees | ' | -57 | ' | -169 | -347 | 439 |
Impairment of property | ' | 0 | ' | 0 | 0 | 0 |
Other operating expense | -1,218 | -1,211 | -3,404 | -3,711 | -4,496 | -5,428 |
Loss from operations | -1,358 | -474 | -3,170 | -2,053 | -3,317 | -1,778 |
Net loss attributable to RiceBran Technologies shareholders | -630 | -221 | -1,699 | -1,232 | -1,693 | -1,593 |
Interest expense | 418 | 325 | 1,338 | 792 | 1,166 | 964 |
Depreciation (in costs of goods sold) | 468 | 399 | 1,359 | 1,218 | 1,651 | 1,336 |
Purchases of property | 1,026 | 2,025 | 2,142 | 5,752 | 6,331 | 6,769 |
Segment information for selected balance sheet accounts [Abstract] | ' | ' | ' | ' | ' | ' |
Inventories | 675 | ' | 675 | ' | 1,230 | ' |
Property, net (variable interest entity restricted $5,231 and $5,757) | 18,319 | ' | 18,319 | ' | 19,690 | 15,833 |
Goodwill | 4,331 | ' | 4,331 | ' | 4,773 | 5,240 |
Intangible assets, net | 854 | ' | 854 | ' | 1,442 | 2,316 |
Total assets | $28,376 | ' | $28,376 | ' | $32,196 | $33,341 |
FAIR_VALUE_MEASUREMENT_Details1
FAIR VALUE MEASUREMENT (Details) (10-Q) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||||||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | ' | ' | ' | ||||
Fair value of convertible debt's excess value over carrying value | $2,600,000 | ' | $2,600,000 | ' | $2,500,000 | ' | ||||
Fair values by input hierarchy of items measured at fair value on a nonrecurring basis [Abstract] | ' | ' | ' | ' | ' | ' | ||||
Property, net | 394,000 | [1],[2] | ' | 394,000 | [1],[2] | ' | 1,058,000 | [1],[2] | ' | |
Impairment Losses | 0 | 0 | 300,000 | [1] | 1,069,000 | 1,069,000 | [1] | 906,000 | ||
Recurring [Member] | ' | ' | ' | ' | ' | ' | ||||
Fair values by input hierarchy of items measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' | ||||
Total liabilities at fair value | -9,701,000 | ' | -9,701,000 | ' | -6,719,000 | -1,296,000 | ||||
Level 1 [Member] | ' | ' | ' | ' | ' | ' | ||||
Fair values by input hierarchy of items measured at fair value on a nonrecurring basis [Abstract] | ' | ' | ' | ' | ' | ' | ||||
Property, net | 0 | [1],[2] | ' | 0 | [1],[2] | ' | 0 | [1],[2] | ' | |
Level 1 [Member] | Recurring [Member] | ' | ' | ' | ' | ' | ' | ||||
Fair values by input hierarchy of items measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' | ||||
Total liabilities at fair value | 0 | ' | 0 | ' | 0 | 0 | ||||
Level 2 [Member] | ' | ' | ' | ' | ' | ' | ||||
Fair values by input hierarchy of items measured at fair value on a nonrecurring basis [Abstract] | ' | ' | ' | ' | ' | ' | ||||
Property, net | 0 | [1],[2] | ' | 0 | [1],[2] | ' | 0 | [1],[2] | ' | |
Level 2 [Member] | Recurring [Member] | ' | ' | ' | ' | ' | ' | ||||
Fair values by input hierarchy of items measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' | ||||
Total liabilities at fair value | 0 | ' | 0 | ' | 0 | 0 | ||||
Level 3 [Member] | ' | ' | ' | ' | ' | ' | ||||
Fair values by input hierarchy of items measured at fair value on a nonrecurring basis [Abstract] | ' | ' | ' | ' | ' | ' | ||||
Property, net | 394,000 | [1],[2] | ' | 394,000 | [1],[2] | ' | 1,058,000 | [1],[2] | ' | |
Level 3 [Member] | Recurring [Member] | ' | ' | ' | ' | ' | ' | ||||
Fair values by input hierarchy of items measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' | ||||
Total liabilities at fair value | -9,701,000 | ' | -9,701,000 | ' | -6,719,000 | -1,296,000 | ||||
Derivative warrant liability [Member] | Recurring [Member] | ' | ' | ' | ' | ' | ' | ||||
Fair values by input hierarchy of items measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' | ||||
Derivative warrant liabilities | -6,508,000 | [3],[4] | ' | -6,508,000 | [3],[4] | ' | -4,520,000 | [3],[4],[5] | -1,296,000 | [5] |
Fair value assumptions [Abstract] | ' | ' | ' | ' | ' | ' | ||||
Expected volatility (in hundredths) | ' | ' | 90.00% | ' | 93.00% | 84.00% | ||||
Derivative warrant liability [Member] | Recurring [Member] | Minimum [Member] | ' | ' | ' | ' | ' | ' | ||||
Fair value assumptions [Abstract] | ' | ' | ' | ' | ' | ' | ||||
Risk-free interest rate (in hundredths) | ' | ' | 0.00% | ' | 0.10% | 0.10% | ||||
Derivative warrant liability [Member] | Recurring [Member] | Maximum [Member] | ' | ' | ' | ' | ' | ' | ||||
Fair value assumptions [Abstract] | ' | ' | ' | ' | ' | ' | ||||
Risk-free interest rate (in hundredths) | ' | ' | 1.40% | ' | 0.70% | 0.80% | ||||
Derivative warrant liability [Member] | Recurring [Member] | Weighted Average [Member] | ' | ' | ' | ' | ' | ' | ||||
Fair value assumptions [Abstract] | ' | ' | ' | ' | ' | ' | ||||
Risk-free interest rate (in hundredths) | ' | ' | 1.00% | ' | 0.60% | 0.20% | ||||
Derivative warrant liability [Member] | Level 1 [Member] | Recurring [Member] | ' | ' | ' | ' | ' | ' | ||||
Fair values by input hierarchy of items measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' | ||||
Derivative warrant liabilities | 0 | [3],[4] | ' | 0 | [3],[4] | ' | 0 | [3],[4],[5] | 0 | [5] |
Derivative warrant liability [Member] | Level 2 [Member] | Recurring [Member] | ' | ' | ' | ' | ' | ' | ||||
Fair values by input hierarchy of items measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' | ||||
Derivative warrant liabilities | 0 | [3],[4] | ' | 0 | [3],[4] | ' | 0 | [3],[4],[5] | 0 | [5] |
Derivative warrant liability [Member] | Level 3 [Member] | Recurring [Member] | ' | ' | ' | ' | ' | ' | ||||
Fair values by input hierarchy of items measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' | ||||
Derivative warrant liabilities | -6,508,000 | [3],[4] | ' | -6,508,000 | [3],[4] | ' | -4,520,000 | [3],[4],[5] | -1,296,000 | [5] |
Derivative conversion liability [Member] | Recurring [Member] | ' | ' | ' | ' | ' | ' | ||||
Fair values by input hierarchy of items measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' | ||||
Derivative warrant liabilities | -3,193,000 | [6],[7] | ' | -3,193,000 | [6],[7] | ' | -2,199,000 | [6],[7],[8] | ' | |
Fair value assumptions [Abstract] | ' | ' | ' | ' | ' | ' | ||||
Expected volatility (in hundredths) | ' | ' | 90.00% | ' | 93.00% | ' | ||||
Derivative conversion liability [Member] | Recurring [Member] | Minimum [Member] | ' | ' | ' | ' | ' | ' | ||||
Fair value assumptions [Abstract] | ' | ' | ' | ' | ' | ' | ||||
Risk-free interest rate (in hundredths) | ' | ' | 0.00% | ' | 0.20% | ' | ||||
Derivative conversion liability [Member] | Recurring [Member] | Maximum [Member] | ' | ' | ' | ' | ' | ' | ||||
Fair value assumptions [Abstract] | ' | ' | ' | ' | ' | ' | ||||
Risk-free interest rate (in hundredths) | ' | ' | 0.60% | ' | 0.30% | ' | ||||
Derivative conversion liability [Member] | Recurring [Member] | Weighted Average [Member] | ' | ' | ' | ' | ' | ' | ||||
Fair value assumptions [Abstract] | ' | ' | ' | ' | ' | ' | ||||
Risk-free interest rate (in hundredths) | ' | ' | 0.40% | ' | 0.30% | ' | ||||
Derivative conversion liability [Member] | Level 1 [Member] | Recurring [Member] | ' | ' | ' | ' | ' | ' | ||||
Fair values by input hierarchy of items measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' | ||||
Derivative warrant liabilities | 0 | [6],[7] | ' | 0 | [6],[7] | ' | 0 | [6],[7],[8] | ' | |
Derivative conversion liability [Member] | Level 2 [Member] | Recurring [Member] | ' | ' | ' | ' | ' | ' | ||||
Fair values by input hierarchy of items measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' | ||||
Derivative warrant liabilities | 0 | [6],[7] | ' | 0 | [6],[7] | ' | 0 | [6],[7],[8] | ' | |
Derivative conversion liability [Member] | Level 3 [Member] | Recurring [Member] | ' | ' | ' | ' | ' | ' | ||||
Fair values by input hierarchy of items measured at fair value on a recurring basis [Abstract] | ' | ' | ' | ' | ' | ' | ||||
Derivative warrant liabilities | ($3,193,000) | [6],[7] | ' | ($3,193,000) | [6],[7] | ' | ($2,199,000) | [6],[7],[8] | ' | |
[1] | Machinery and equipment not currently in use was evaluated for impairment and as a result was written down to estimated fair value in the first quarter of 2013 and the second quarter of 2012. Fair value is an estimate of net realizable value comprised of an estimate of proceeds from sale, based on an internal evaluation of market conditions, less estimated costs to sell. The estimate of net realizable value is subject to change. | |||||||||
[2] | During the first quarter of 2013, machinery and equipment not currently in use was evaluated for impairment and as a result was written down to estimated fair value. Fair value is an estimate of net realizable value comprised of an estimate of proceeds from sale, based on an internal evaluation of market conditions, less estimated costs to sell. The estimate of net realizable value is subject to change. | |||||||||
[3] | These warrants are valued using the lattice model each reporting period and the resultant change in fair value is recorded in the statements of operations. The lattice model requires us to assess the probability of future issuance of equity instruments at a price lower than the current exercise price of the warrants. The risk-free interest rate is determined by reference to the treasury yield curve rate of instruments with the same term as the warrant. Additional assumptions that were used to calculate fair value follow. September 30, 2013 December 31, 2012 Risk-free interest rate 0.0% - 1.4% 0.1% - 0.7% (1.0% weighted average) (0.6% weighted average) Expected volatility 90% 93% | |||||||||
[4] | These warrants are valued using the lattice model each reporting period and the resultant change in fair value is recorded in the statements of operations. The lattice model requires us to assess the probability of future issuance of equity instruments at a price lower than the current exercise price of the warrants. The risk-free interest rate is determined by reference to the treasury yield curve rate of instruments with the same term as the warrant. Additional assumptions that were used to calculate fair value follow. | |||||||||
[5] | These warrants are valued using the lattice model each reporting period and the resultant change in fair value is recorded in the statements of operations. The lattice model requires us to assess the probability of future issuance of equity instruments at a price lower than the current exercise price of the warrants. The risk-free interest rate is determined by reference to the treasury yield curve rate of instruments with the same term as the warrant. Additional assumptions that were used to calculate fair value follow. December 31, 2012 December 31, 2011 Risk-free interest rate 0.1% - 0.7% 0.1% - 0.8% (0.6% weighted average) (0.2% weighted average) Expected volatility 93% 84% | |||||||||
[6] | These conversion liabilities are valued using a lattice model each reporting period and the resultant change in fair value is recorded in the statements of operations. The lattice model requires us to assess the probability of future issuance of equity instruments at a price lower than the current conversion price of the debt. The risk-free interest rate is determined by reference to the treasury yield curve rate of instruments with the same term as the underlying debt. Additional assumptions that were used to calculate fair value follow. | |||||||||
[7] | These conversion liabilities are valued using a lattice model each reporting period and the resultant change in fair value is recorded in the statements of operations. The lattice model requires us to assess the probability of future issuance of equity instruments at a price lower than the current conversion price of the debt. The risk-free interest rate is determined by reference to the treasury yield curve rate of instruments with the same term as the underlying debt. Additional assumptions that were used to calculate fair value follow. September 30, 2013 December 31, 2012 Risk-free interest rate 0.0-0.6% 0.2-0.3% (0.4% weighted average) (0.3% weighted average) Expected volatility 90% 93% | |||||||||
[8] | These conversion liabilities are valued using a lattice model each reporting period and the resultant change in fair value is recorded in the statements of operations. The lattice model requires us to assess the probability of future issuance of equity instruments at a price lower than the current conversion price of the debt. The risk-free interest rate is determined by reference to the treasury yield curve rate of instruments with the same term as the underlying debt. Additional assumptions that were used to calculate fair value follow. December 31, 2012 Risk-free interest rate 0.2-0.3% (0.3% weighted average) Expected volatility 93% |
FAIR_VALUE_MEASUREMENT_Unobser
FAIR VALUE MEASUREMENT, Unobservable Input Reconciliation (Details) (10-Q) (USD $) | 12 Months Ended | 9 Months Ended | ||||||||||||||
In Thousands, unless otherwise specified | Dec. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | ||||||||
Recurring [Member] | Recurring [Member] | Recurring [Member] | Recurring [Member] | Recurring [Member] | Recurring [Member] | |||||||||||
Derivative warrant liability [Member] | Derivative warrant liability [Member] | Derivative conversion liability [Member] | Derivative conversion liability [Member] | |||||||||||||
Changes in level 3 items measured at fair value on a recurring basis [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Fair Value as of Beginning of Period | ($1,296) | ($1,628) | ($6,719) | ($1,296) | ($4,520) | ($1,296) | ($2,199) | $0 | ||||||||
Total Realized and Unrealized Gains (Losses) | 5,420 | [1] | 332 | [1] | -1,918 | [1] | 4,008 | [1] | -1,413 | [1] | 1,142 | [1] | -505 | [1] | 2,866 | [1] |
Issuance of New Instruments | 11,449 | 0 | -1,163 | -11,449 | -575 | -6,983 | -588 | -4,466 | ||||||||
Net Transfers (Into) Out of Level 3 | -606 | [2],[3] | 0 | 99 | 606 | 0 | 711 | [4] | 99 | [4] | -105 | |||||
Fair Value, at End of Period | -6,719 | -1,296 | -9,701 | -8,131 | -6,508 | -6,426 | -3,193 | -1,705 | ||||||||
Change in Unrealized Gains (Losses) on Instruments Still Held | $5,692 | $332 | ($2,309) | $4,280 | ($1,413) | $1,414 | ($896) | $2,866 | ||||||||
[1] | Included in change in fair value of derivative warrant and conversion liabilities in our consolidated statements of operations. | |||||||||||||||
[2] | Represents transfers to equity as a result of a holder exercising a warrant. | |||||||||||||||
[3] | Represents an adjustment to loss on extinguishment as a result of issuing the replacement senior convertible debenture. | |||||||||||||||
[4] | Represents transfers to equity as a result of the exercise of a warrant in 2012 and conversion of debt in 2013. |
RELATED_PARTY_TRANSACTIONS_Det1
RELATED PARTY TRANSACTIONS (Details) (10-Q) (USD $) | 9 Months Ended | 12 Months Ended | 3 Months Ended | 1 Months Ended | 3 Months Ended | 9 Months Ended | 1 Months Ended | 12 Months Ended | 1 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | |||||||||||||
Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Mar. 31, 2012 | Mar. 31, 2012 | Sep. 30, 2013 | Jan. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Jan. 31, 2012 | Dec. 31, 2011 | Apr. 30, 2013 | Apr. 30, 2013 | Jan. 31, 2012 | Jan. 31, 2012 | Sep. 30, 2013 | Mar. 31, 2013 | Sep. 30, 2013 | Sep. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Mar. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | |
Convertible Subordinated Debt [Member] | Convertible Subordinated Debt [Member] | Promissory Note [Member] | Director - Baruch Halpern [Member] | Director - Baruch Halpern [Member] | Director - Baruch Halpern [Member] | Director - Baruch Halpern [Member] | Director - Baruch Halpern [Member] | Director - Baruch Halpern [Member] | Director - Baruch Halpern [Member] | Director - Baruch Halpern [Member] | Director - Baruch Halpern [Member] | CEO and Director [Member] | CEO and Director [Member] | Other Officers and Directors [Member] | Other Officers and Directors [Member] | Other Officers and Directors [Member] | Other Officers and Directors [Member] | Other Officers and Directors [Member] | HC and Halpern Entities [Member] | HC and Halpern Entities [Member] | HC and Halpern Entities [Member] | HC and Halpern Entities [Member] | Minimum [Member] | Minimum [Member] | Maximum [Member] | Maximum [Member] | |||||
First Issuance 10 cents per share [Member] | Second Issuance at 0.15 per share [Member] | Convertible Subordinated Debt [Member] | Convertible Subordinated Debt [Member] | Promissory Note [Member] | January 2012 [Member] | Director - Baruch Halpern [Member] | Director - Baruch Halpern [Member] | Director - Baruch Halpern [Member] | Director - Baruch Halpern [Member] | ||||||||||||||||||||||
January 2012 [Member] | January 2012 [Member] | ||||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Obligated success fees (in hundredths) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2.50% | 2.50% | 5.00% | 5.00% |
Additional consideration paid on certain transactions (in hundredths) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2.50% | 2.50% | 5.00% | 5.00% |
Payment of fees | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $100,000 | ' | ' | ' | ' |
Number of shares under warrant (in shares) | ' | ' | ' | 22,766 | 3,563 | 750 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Exercise price per warrant (in dollars per share) | ' | ' | ' | ' | $20 | $30 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Warrants issued (in shares) | ' | ' | ' | ' | ' | ' | ' | 25,833 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 204 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Weighted average exercise price per warrant (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | $20 | ' | ' | ' | ' | ' | $24 | $16 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Warrants granted in period, change in fair value | ' | ' | ' | ' | ' | ' | ' | 100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Due to related parties | ' | ' | ' | ' | ' | ' | ' | ' | 2,600,000 | ' | 2,600,000 | ' | 2,600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accrued interest | ' | ' | ' | ' | ' | ' | ' | ' | 100,000 | 100,000 | 200,000 | 200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds from related parties | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100,000 | ' | 100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Principal amount promissory note | ' | ' | ' | ' | ' | ' | 100,000 | ' | ' | ' | ' | ' | ' | ' | ' | 100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stated annual interest rate (in hundredths) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Payments to HC relevant to HC's class 6 general unsecured creditor claim | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 400,000 | 256,000 | 754,000 | ' | ' | ' | ' | ' |
Repayments of notes | 12,288,000 | 9,010,000 | 12,610,000 | 8,818,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds from issuance of subordinated long-term debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 25,000 | 50,000 | 100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest paid | $1,785,000 | $1,162,000 | $1,651,000 | $1,551,000 | ' | ' | ' | ' | $100,000 | $100,000 | $100,000 | $200,000 | ' | ' | ' | ' | ' | ' | $100,000 | ' | $1,000 | $1,000 | $2,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Issue of shares of common stock (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 82 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
HN_ACQUISITION_Details_10Q
H&N ACQUISITION (Details) (10-Q) (H and N [Member], USD $) | 1 Months Ended |
In Millions, except Share data, unless otherwise specified | Sep. 30, 2013 |
Business Acquisition [Line Items] | ' |
Cash to be paid | 2 |
Annual base salary to founder | 0.2 |
Maximum annual eligible bonus to be paid to founder | 0.3 |
Equity fund raising, minimum | 7.5 |
Minimum [Member] | ' |
Business Acquisition [Line Items] | ' |
Common stock issuable (in shares) | 187,500 |
Maximum [Member] | ' |
Business Acquisition [Line Items] | ' |
Common stock issuable (in shares) | 237,500 |