Document_and_Entity_Informatio
Document and Entity Information (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Mar. 25, 2014 | Jun. 30, 2013 | |
Document and Entity Information [Abstract] | ' | ' | ' |
Entity Registrant Name | 'RiceBran Technologies | ' | ' |
Entity Central Index Key | '0001063537 | ' | ' |
Current Fiscal Year End Date | '--12-31 | ' | ' |
Entity Well-known Seasoned Issuer | 'No | ' | ' |
Entity Voluntary Filers | 'No | ' | ' |
Entity Current Reporting Status | 'Yes | ' | ' |
Entity Filer Category | 'Smaller Reporting Company | ' | ' |
Entity Public Float | ' | ' | $13,826,116 |
Entity Common Stock, Shares Outstanding | ' | 2,869,274 | ' |
Document Fiscal Year Focus | '2013 | ' | ' |
Document Fiscal Period Focus | 'FY | ' | ' |
Document Type | '10-K | ' | ' |
Amendment Flag | 'false | ' | ' |
Document Period End Date | 31-Dec-13 | ' | ' |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Current assets: | ' | ' |
Cash and cash equivalents | $5,091 | $1,040 |
Restricted cash | 1,920 | 1,919 |
Accounts receivable, net of allowance for doubtful accounts of $501 and $518 (variable interest entity restricted $1,967 and $2,505) | 2,673 | 3,487 |
Inventories | 2,430 | 1,994 |
Income and operating taxes recoverable | 585 | 1,167 |
Deferred tax asset | 0 | 234 |
Deposits and other current assets | 833 | 975 |
Total current assets | 13,532 | 10,816 |
Property, net (variable interest entity restricted $4,969 and $5,757) | 24,958 | 28,457 |
Goodwill | 4,139 | 4,773 |
Intangible assets, net | 1,417 | 2,575 |
Other long-term assets | 532 | 385 |
Total assets | 44,578 | 47,006 |
Current liabilities: | ' | ' |
Accounts payable | 4,489 | 3,021 |
Accrued salary, wages and benefits | 2,610 | 1,695 |
Accrued expenses | 3,089 | 2,814 |
Mandatorily redeemable common stock (37,260 shares outstanding) | 523 | 0 |
Current maturities of debt (variable interest entity nonrecourse $6,262 and $7,013) | 8,250 | 8,003 |
Total current liabilities | 18,961 | 15,533 |
Long-term debt, less current portion (variable interest entity nonrecourse $6,658 and $7,454) | 10,919 | 11,581 |
Derivative warrant liabilities | 1,685 | 4,520 |
Deferred tax liability | 0 | 1,674 |
Total liabilities | 31,565 | 33,308 |
Commitments and contingencies | ' | ' |
Temporary equity: | ' | ' |
Redeemable noncontrolling interest in Nutra SA | 7,177 | 9,262 |
Equity 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 shares and 2,500,000 shares authorized, 2,832,014 and 1,038,080 shares issued and outstanding | 227,513 | 210,396 |
Accumulated deficit | -219,441 | -204,420 |
Accumulated other comprehensive loss | -2,236 | -1,540 |
Total equity attributable to RiceBran Technologies shareholders | 5,836 | 4,436 |
Total liabilities, temporary equity and equity | $44,578 | $47,006 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parenthetical) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, except Share data, unless otherwise specified | ||
Current assets: | ' | ' |
Accounts receivable, allowance for doubtful accounts | $501 | $518 |
Current liabilities: | ' | ' |
Redeemable common stock shares outstanding (in shares) | 37,620 | 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) | 2,832,014 | 1,038,080 |
Common stock, shares outstanding (in shares) | 2,832,014 | 1,038,080 |
Variable Interest Entity [Member] | ' | ' |
Current assets: | ' | ' |
Accounts receivable, variable interest entity restricted | 1,967 | 2,505 |
Variable interest entity restricted portion of property, net | 4,969 | 5,757 |
Current liabilities: | ' | ' |
Nonrecourse portion of current maturities of long-term debt (variable interest entity) | 6,262 | 7,013 |
Long-term liabilities: | ' | ' |
Long-term debt, less current portion variable interest entity nonrecourse | $6,658 | $7,454 |
Consolidated_Statements_of_Ope
Consolidated Statements of Operations (USD $) | 12 Months Ended | |
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Consolidated Statements of Operations [Abstract] | ' | ' |
Revenues | $35,051 | $37,723 |
Cost of goods sold | 31,106 | 31,651 |
Gross profit | 3,945 | 6,072 |
Operating expenses: | ' | ' |
Selling, general and administrative | 13,615 | 13,690 |
Impairment of property | 300 | 1,069 |
Total operating expenses | 13,915 | 14,759 |
Loss from operations | -9,970 | -8,687 |
Other income (expense): | ' | ' |
Interest income | 109 | 74 |
Interest expense | -3,934 | -1,926 |
Change in fair value of derivative warrant and conversion liabilities | -1,029 | 5,420 |
Loss on extinguishment | -2,891 | -4,941 |
Financing expense | -564 | -2,184 |
Foreign currency exchange, net | -440 | -617 |
Other income | 13 | 27 |
Other expense | -373 | -237 |
Total other expense | -9,109 | -4,384 |
Loss before income taxes | -19,079 | -13,071 |
Income tax benefit | 1,439 | 1,935 |
Net loss | -17,640 | -11,136 |
Net loss attributable to noncontrolling interest in Nutra SA | 2,619 | 1,627 |
Net loss attributable to RiceBran Technologies shareholders | ($15,021) | ($9,509) |
Loss per share attributable to RiceBran Technologies shareholders | ' | ' |
Basic (in dollars per share) | ($12.95) | ($9.29) |
Diluted (in dollars per share) | ($12.95) | ($9.29) |
Weighted average number of shares outstanding | ' | ' |
Basic (in shares) | 1,160,196 | 1,023,412 |
Diluted (in shares) | 1,160,196 | 1,023,412 |
Consolidated_Statements_of_Com
Consolidated Statements of Comprehensive Loss (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Consolidated Statements of Comprehensive Loss [Abstract] | ' | ' |
Net loss | ($17,640) | ($11,136) |
Other comprehensive loss - foreign currency translation, net of tax | -1,362 | -1,081 |
Comprehensive loss, net of tax | -19,002 | -12,217 |
Comprehensive loss attributable to noncontrolling interest, net of tax | 3,285 | 2,156 |
Total comprehensive loss attributable to RiceBran Technologies shareholders | ($15,717) | ($10,061) |
Consolidated_Statements_of_Cha
Consolidated Statements of Changes in Equity (USD $) | Common Stock [Member] | Accumulated Deficit [Member] | Accumulated Other Comprehensive Loss [Member] | Total |
In Thousands, except Share data, unless otherwise specified | ||||
Balance at Dec. 31, 2011 | $209,613 | ($194,911) | ($988) | $13,714 |
Balance( in shares) at Dec. 31, 2011 | 1,006,323 | ' | ' | ' |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' |
Share-based compensation, options | 923 | 0 | 0 | 923 |
Warrants exercised | 711 | 0 | 0 | 711 |
Warrants exercised (in shares) | 7,763 | ' | ' | ' |
Common stock issued for fees and services | 228 | 0 | 0 | 228 |
Common stock issued for fees and services (in shares) | 8,972 | ' | ' | ' |
Common stock issued in exchange for options | 10 | 0 | 0 | 10 |
Common stock issued in exchange for options (in shares) | 15,022 | ' | ' | ' |
Cancellation of convertible notes and warrant | -1,089 | 0 | 0 | -1,089 |
Foreign currency translation | 0 | 0 | -552 | -552 |
Net loss | 0 | -9,509 | 0 | -9,509 |
Balance at Dec. 31, 2012 | 210,396 | -204,420 | -1,540 | 4,436 |
Balance( in shares) at Dec. 31, 2012 | 1,038,080 | ' | ' | 1,038,080 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' |
Share-based compensation, options | 538 | 0 | 0 | 538 |
Stock and warrant offering proceeds, net | 7,617 | 0 | 0 | 7,617 |
Stock and warrant offering proceeds, net (in shares) | 1,714,286 | ' | ' | ' |
Conversion of senior debenture | 500 | 0 | 0 | 500 |
Conversion of senior debenture (in shares) | 28,429 | ' | ' | ' |
Common stock issued for fees and services | 744 | 0 | 0 | 744 |
Common stock issued for fees and services (in shares) | 48,556 | ' | ' | ' |
Warrants issued for fees and services | 204 | 0 | 0 | 204 |
Warrants issued fees and services (in shares) | 0 | ' | ' | ' |
Future shares issuance in the exchange for warrants | 7,514 | 0 | 0 | 7,514 |
Shares issuable in the Exchange (in shares) | 0 | ' | ' | ' |
Reverse split, impact of rounding | 0 | 0 | 0 | 0 |
Reverse split, impact of rounding (in shares) | 2,663 | ' | ' | ' |
Foreign currency translation | 0 | 0 | -696 | -696 |
Net loss | 0 | -15,021 | 0 | -15,021 |
Balance at Dec. 31, 2013 | $227,513 | ($219,441) | ($2,236) | $5,836 |
Balance( in shares) at Dec. 31, 2013 | 2,832,014 | ' | ' | 2,832,014 |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Cash flow from operating activities: | ' | ' |
Net loss | ($17,640) | ($11,136) |
Adjustments to reconcile net loss to net cash used in operating activities: | ' | ' |
Depreciation | 3,025 | 3,430 |
Amortization | 1,023 | 1,182 |
Provision for doubtful accounts receivable | 226 | 401 |
Common stock and share-based compensation, options | 765 | 1,161 |
Impairment of property | 300 | 1,069 |
Change in fair value of derivative warrant and conversion liabilities | 1,029 | -5,420 |
Loss on extinguishment | 2,891 | 4,941 |
Financing expense | 564 | 2,184 |
Deferred tax benefit | -1,248 | -1,935 |
Other | 20 | 775 |
Changes in operating assets and liabilities: | ' | ' |
Accounts receivable | 256 | -462 |
Inventories | -561 | 201 |
Accounts payable and accrued expenses | 3,383 | 215 |
Pre-petition liabilities | 0 | -1,615 |
Other | 765 | 187 |
Net cash used in operating activities | -5,202 | -4,822 |
Cash flows from investing activities: | ' | ' |
Purchases of property | -3,119 | -6,482 |
Proceeds from sales of property | 829 | 576 |
Payment for license | -1,200 | 0 |
Receipts on notes receivable | 0 | 700 |
Other | 0 | 244 |
Net cash used in investing activities | -3,490 | -4,962 |
Cash flows from financing activities: | ' | ' |
Proceeds from issuance of convertible debt and related warrants | 575 | 3,563 |
Proceeds from issuance of common stock and warrants, net of costs | 7,617 | 0 |
Proceeds from obligation to issue shares | 408 | 0 |
Payments of debt | -18,404 | -12,610 |
Proceeds from issuance of debt | 20,218 | 15,189 |
Proceeds from sale of membership interests in Nutra SA, net of costs | 1,200 | 1,500 |
Proceeds from sale of membership interests in RBT PRO, net of costs | 1,200 | 0 |
Net cash provided by financing activities | 12,814 | 7,642 |
Effect of exchange rate changes on cash and cash equivalents | -71 | -147 |
Net change in cash and cash equivalents | 4,051 | -2,289 |
Cash and cash equivalents, beginning of year | 1,040 | 3,329 |
Cash and cash equivalents, end of year | 5,091 | 1,040 |
Supplemental disclosures: | ' | ' |
Cash paid for interest | 2,537 | 1,651 |
Cash paid for income taxes | $0 | $0 |
LIQUIDITY_MANAGEMENT_PLANS_AND
LIQUIDITY, MANAGEMENT PLANS AND GENERAL BUSINESS | 12 Months Ended |
Dec. 31, 2013 | |
LIQUIDITY, MANAGEMENT PLANS AND GENERAL BUSINESS [Abstract] | ' |
LIQUIDITY, MANAGEMENT PLANS AND GENERAL BUSINESS | ' |
NOTE 1. LIQUIDITY, MANAGEMENT PLANS AND GENERAL BUSINESS | |
Liquidity and Management’s Plans | |
In 2013, we continued to experience losses and negative cash flows from operations which raises substantial doubt about our ability to continue as a going concern. We believe that we now have adequate financial resources to operate our business for the next year and we will be able to obtain additional funds to operate our business, should it be necessary, however, 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. | |
As described further in Note 10, we closed an underwritten public offering in December 2013 and completed a private placement offering in March 2014, which together provided us with net proceeds in excess of $12.0 million, allowing us to make additional investment in our Brazilian operations and provide cash for corporate purposes. In January 2014, we completed the acquisition of H&N Distribution, Inc., the operations of which are expected to be accretive to cash flows. Our Brazilian subsidiary, Irgovel, shut down operations in the first quarter of 2014 to complete the final stages of a major capital expansion. The shutdown has depleted cash. Operations at Irgovel are expected to normalize during the second quarter of 2014, such that Irgovel will then be operating at its newly increased capacity and begin generating cash from operations. | |
General Business | |
We are a human food ingredient, nutritional supplement and animal nutrition company focused on value-added processing and marketing of healthy, natural and nutrient dense products derived from raw rice bran (RRB), an underutilized by-product of the rice milling industry. Using our bio-refining business model, we apply our proprietary and patented technologies and intellectual properties to convert RRB into numerous high value products including stabilized rice bran (SRB), rice bran oil (RBO), defatted rice bran (DRB), RiBalance (a complete rice bran nutritional package derived from further processing of SRB), RiSolubles (a highly nutritious, carbohydrate and lipid rich fraction of SRB), RiFiber (a fiber rich derivative of SRB), ProRyza rice bran protein products and a variety of other valuable derivatives extracted from these core products. Our target markets are natural food, functional food, nutraceutical supplement and animal nutrition manufacturers, wholesalers and retailers, both domestically and internationally. | |
We have two reportable operating segments in 2013: (i) USA segment, which manufactures and distributes SRB in various granulations along with Stage II products and derivatives and (ii) Brazil segment, which extracts crude RBO and DRB from rice bran, which are then further processed into fully refined rice bran oil for sale internationally and in Brazil, compounded animal nutrition products for horses, cows, swine, sheep and poultry and a number of valuable human food and animal nutrition products derivatives and co-products. In addition we incur corporate and other expenses not directly attributable to operating segments, which include costs related to our corporate staff, general and administrative expenses including public company expenses, intellectual property, professional fees, and other expenses. No Corporate allocations, including interests, are made to the operating segments. | |
The combined operations of our USA and Brazil segments encompass our bio-refining approach to processing RRB into various high quality, value-added constituents and finished products. Over the past decade, we have developed and optimized our proprietary bio-refining processes to support the production of healthy, natural, hypoallergenic, gluten free, and non-genetically modified ingredients and supplements for use in human meats, baked goods, cereals, coatings, health foods, nutritional supplements, nutraceuticals and high-end animal nutrition and health products. | |
In 2013, the USA segment produced SRB inside two supplier rice mills in California and one owned facility in Louisiana. . A facility located in Lake Charles, Louisiana has been idle since May 2009. The USA segment also includes our Dillon, Montana Stage II facility which produces our Stage II products RiSolubles (a highly nutritious, carbohydrate and lipid rich fraction of SRB), RiFiber (a fiber rich derivative of SRB), RiBalance (a complete rice bran nutritional package derived from further processing SRB), and ProRyza, a family of protein products. Stage II refers to the proprietary processes run at our Dillon, Montana facility and includes products produced at that facility using our patented processes. The manufacturing facilities included in our USA segment have proprietary processing equipment and patented technology for the stabilization and further processing of rice bran into finished products. In 2013, approximately 55% of USA segment revenue was from sales of human food products and approximately 45% was from sales of animal nutrition products. | |
The Brazil segment consists of the consolidated operations of Nutra SA, whose only operating subsidiary is Irgovel, located in Pelotas, Brazil. Irgovel manufactures RBO and DRB products for both the human ingredient and animal nutrition 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. Irgovel recently started production of rice lecithin, which has application in human nutrition, animal nutrition and industrial applications. DRB is 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, sold as a raw material for further processing into human food ingredients or sold in bulk into the animal nutrition markets in Brazil and neighboring countries. In 2013, approximately 45% of Brazil segment product revenue was from sales of RBO products and 55% was from sales of DRB products. |
SUMMARY_OF_SIGNIFICANT_ACCOUNT
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 12 Months Ended |
Dec. 31, 2013 | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract] | ' |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | ' |
NOTE 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | |
Principles of Consolidation – The consolidated financial statements include the accounts of RiceBran Technologies 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. The balance sheet of Irgovel is translated into U.S. Dollars using the exchange rate in effect at the balance sheet date. Irgovel’s 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, 2013, we maintained our cash, including restricted cash, and cash equivalents, with major banks. We maintain cash in bank accounts in amounts 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 the provision for doubtful accounts. We periodically 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. | |
We test goodwill and other indefinite-lived intangible assets for impairment on an annual basis or on an interim basis if an event occurs or circumstances change that would reduce the fair value of a reporting unit below its carrying value. Our annual qualitative or quantitative assessments involve determining an estimate of the fair value of our reporting units in order to evaluate whether an impairment of the current carrying amount of goodwill and other indefinite-lived intangible assets exists. A qualitative assessment evaluates whether it is more likely than not that a reporting unit’s fair value is less than its carrying amount before applying the two-step quantitative goodwill impairment test. The first step of a quantitative goodwill impairment test, used to identify potential impairment, compares the fair value of a reporting unit with its carrying amount, including goodwill. If the fair value of a reporting unit exceeds its carrying amount, goodwill of the reporting unit is not considered impaired, and, thus, the second step of the quantitative impairment test is unnecessary. If the carrying amount of a reporting unit exceeds its fair value, the second step of the quantitative goodwill impairment test is performed to measure the amount of impairment loss, if any. Fair values are derived based on an evaluation of past and expected future performance of our reporting units. | |
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. While our annual impairment testing as of December 31, 2013, supported the carrying amount of goodwill, we may be required to reevaluate the carrying amount in future periods, thus utilizing different assumptions that reflect the then current market conditions and expectations, and, therefore, we could conclude that an impairment has occurred. | |
We review our long-lived assets, which include intangible assets subject to amortization, for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. An impairment loss is recognized when the undiscounted future cash flows estimated to be generated by the asset to be held and used are not sufficient to recover the unamortized balance of the asset. An impairment loss is recognized based on the difference between the carrying values and estimated fair value. The estimated fair value is determined based on either the discounted future cash flows or other appropriate fair value methods with the amount of any such deficiency charged to operations in the current year. Estimates of future cash flows are based on many factors, including current operating results, expected market trends and competitive influences. We also evaluate the amortization periods assigned to its intangible assets to determine whether events or changes in circumstances warrant revised estimates of useful lives. Assets to be disposed of by sale are reported at the lower of the carrying amount or fair value, less estimated costs to sell. | |
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. | |
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 had certain convertible debt outstanding that contained antidilution clauses. Under these clauses, we were required to lower the conversion price on the convertible debt based on certain issuances of our common stock, awards of options to employees, additional issuance of warrants and/or other convertible instruments below certain conversion prices. We accounted for the conversion liabilities associated with these antidilution clauses as liability instruments, separate from the host debt. The conversion liabilities were classified as debt on our consolidated balance sheets. These conversion liabilities were valued using the lattice model each reporting period and the resultant change in fair value was 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 and 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 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 associated with 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. | |
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 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 which could potentially have a material impact on our financial statements. |
LOSS_PER_SHARE_EPS
LOSS PER SHARE (EPS) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
LOSS PER SHARE (EPS) [Abstract] | ' | ||||||||
LOSS PER SHARE (EPS) | ' | ||||||||
NOTE 3. 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. | |||||||||
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. | |||||||||
2013 | 2012 | ||||||||
NUMERATOR (in thousands): | |||||||||
Basic and diluted - net loss attributable to RiceBran Technologies shareholders | $ | (15,021 | ) | $ | (9,509 | ) | |||
DENOMINATOR: | |||||||||
Basic EPS - weighted average number of shares outstanding | 1,160,196 | 1,023,412 | |||||||
Effect of dilutive securities outstanding | - | - | |||||||
Diluted EPS - weighted average number of shares outstanding | 1,160,196 | 1,023,412 | |||||||
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 $26.90 and $48.00 ) | 179,493 | 191,187 | |||||||
Warrants (average exercise price of $17.71 and $62.00) | 809,311 | 736,753 | |||||||
Convertible notes (average conversion price of $14.00 and $16.90) | 414,683 | 334,709 | |||||||
The impacts of potentially dilutive securities outstanding at December 31, 2013 and 2012, were 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 | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
REDEEMABLE NONCONTROLLING INTEREST IN NUTRA SA [Abstract] | ' | ||||||||
REDEEMABLE NONCONTROLLING INTEREST IN NUTRA SA | ' | ||||||||
NOTE 4. 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). | |||||||||
December 31, | |||||||||
2013 | 2012 | ||||||||
Cash and cash equivalents | $ | 1,686 | $ | 562 | |||||
Other current assets (restricted $1,967 and $2,505) | 4,546 | 5,675 | |||||||
Property, net (restricted $4,969 and $5,757) | 17,672 | 19,690 | |||||||
Goodwill and intangibles, net | 4,812 | 6,215 | |||||||
Other noncurrent assets | 27 | 54 | |||||||
Total assets | $ | 28,743 | $ | 32,196 | |||||
Current liabilities | $ | 6,514 | $ | 5,141 | |||||
Current portion of long-term debt (nonrecourse) | 6,262 | 7,013 | |||||||
Long-term debt, less current portion (nonrecourse) | 6,658 | 7,454 | |||||||
Other noncurrent liabilities | - | 1,871 | |||||||
Total liabilities | $ | 19,434 | $ | 21,479 | |||||
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 in Nutra SA follows (in thousands): | |||||||||
2013 | 2012 | ||||||||
Redeemable noncontrolling interest in Nutra SA, beginning of period | $ | 9,262 | $ | 9,918 | |||||
Investors' interest in net loss of Nutra SA | (2,619 | ) | (1,627 | ) | |||||
Investors' interest in accumulated other comprehensive income of Nutra SA | (666 | ) | (529 | ) | |||||
Investors' purchase of additional units | 1,200 | 1,500 | |||||||
Redeemable noncontrolling interest in Nutra SA, end of period | $ | 7,177 | $ | 9,262 | |||||
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 averaged 49.0% in 2013 and 2012. As of December 31, 2013, the Investors interest was 45.9%. Following the closing of the underwritten public offering in December 2013 and completion of the private placement offering in March 2014, we invested an additional $4.9 million in Nutra SA. As of March 25, 2014, we own 56.7% of Nutra SA with the remaining 43.3% held by the Investors. The Investors’ share of Nutra SA’s net income (loss) increases (decreases) redeemable noncontrolling interest. We are restricted from competing with Nutra SA and Irgovel in Brazil as further described in the MIPA. | |||||||||
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 drag along rights which provide the Investors the ability to force a sale of Nutra SA assets in the future. We have assessed the likelihood of the Investors exercising these rights as less than probable at December 31, 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. | |||||||||
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, to the extent there is distributable cash, as defined in the LLC agreement. | |||||||||
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 contributions, less the aggregate amount of distributions paid to the Investors, (ii) second, to us in an amount equal to twice 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. | |||||||||
In 2013, we transferred $3.3 million in cash to Nutra SA for additional units. In 2013, we also transferred $0.8 million in cash to Nutra SA and 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. | |||||||||
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 December 31, 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: | |||||||||
· | A Nutra SA business plan deviation, defined as the occurrence in 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, | ||||||||
· | 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 | ||||||||
· | Failure of Irgovel to achieve EBITDA of at least $4.0 million in any year after 2014. | ||||||||
As of December 31, 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. | |||||||||
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. | |||||||||
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
INVENTORIES | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
INVENTORIES [Abstract] | ' | ||||||||
INVENTORIES | ' | ||||||||
NOTE 5. INVENTORIES | |||||||||
Inventories are composed of the following (in thousands): | |||||||||
As of December 31, | |||||||||
2013 | 2012 | ||||||||
Finished goods | $ | 1,194 | $ | 1,146 | |||||
Work in process | 546 | 330 | |||||||
Raw materials | 441 | 255 | |||||||
Packaging supplies | 249 | 263 | |||||||
Total inventories | $ | 2,430 | $ | 1,994 |
CONCENTRATION_OF_CREDIT_RISK
CONCENTRATION OF CREDIT RISK | 12 Months Ended |
Dec. 31, 2013 | |
CONCENTRATION OF CREDIT RISK [Abstract] | ' |
CONCENTRATION OF CREDIT RISK | ' |
NOTE 6. CONCENTRATION OF CREDIT RISK | |
Financial instruments that potentially subject us to significant concentrations of credit risk consist primarily of trade accounts receivable. We perform ongoing credit evaluations on our customers’ financial condition and generally do not require collateral. | |
One customer accounted for approximately 9% and 10% of our sales in 2013 and 2012 and 10% and 9% of our accounts receivable balances at December 31, 2013 and 2012. A second customer accounted for approximately 5% and 11% of our sales in 2013 and 2012 and 16% and 30% of our accounts receivable balances at December 31, 2013 and 2012. A third customer accounted for approximately 9% and 5% of our sales in 2013 and 2012 and 4% and 3% of our accounts receivable balances at December 31, 2013 and 2012. A fourth customer accounted for approximately 6% and 7% of our sales in 2013 and 2012, none of our outstanding accounts receivable at December 31, 2013, and 9% of our accounts receivable balances at December 31, 2012. |
PROPERTY
PROPERTY | 12 Months Ended | |||||||||
Dec. 31, 2013 | ||||||||||
PROPERTY [Abstract] | ' | |||||||||
PROPERTY | ' | |||||||||
NOTE 7. PROPERTY | ||||||||||
Property consists of the following (in thousands): | ||||||||||
As of December 31, | ||||||||||
2013 | 2012 | Estimated Useful Lives | ||||||||
Land | $ | 382 | $ | 403 | ||||||
Furniture and fixtures | 553 | 358 | 5-10 years | |||||||
Plant | 14,582 | 14,362 | 25-30 years, or life of lease | |||||||
Computer and software | 1,437 | 1,407 | 3-5 years | |||||||
Leasehold improvements | 200 | 189 | 3-7 years or life of lease | |||||||
Machinery and equipment | 14,557 | 15,053 | 5-10 years | |||||||
Construction in progress | 7,517 | 9,118 | ||||||||
Subtotal | 39,228 | 40,890 | ||||||||
Less accumulated depreciation | 14,270 | 12,433 | ||||||||
Property, net | $ | 24,958 | $ | 28,457 | ||||||
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, 2013, the net book value of the idled facility included in property, net, was $1.0 million. | ||||||||||
We also own equipment purchased in 2009 for use in the Lake Charles, Louisiana facility. In 2013 and 2012, we recorded impairments of $0.3 million and $1.1 million on the Lake Charles equipment and the net carrying amount of this equipment at December 31, 2013 is $0.4 million. |
INTANGIBLE_ASSETS_AND_GOODWILL
INTANGIBLE ASSETS AND GOODWILL | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||
INTANGIBLE ASSETS AND GOODWILL [Abstract] | ' | ||||||||||||||||||||||||
INTANGIBLE ASSETS AND GOODWILL | ' | ||||||||||||||||||||||||
NOTE 8. INTANGIBLE ASSETS AND GOODWILL | |||||||||||||||||||||||||
All changes in goodwill between December 31, 2013 and December 31, 2012, relate to foreign currency translation. Intangible assets consist of the following (in thousands): | |||||||||||||||||||||||||
USA Segment | Brazil Segment | Total | |||||||||||||||||||||||
Patents | Trademarks | Customer | Trademarks | Customer | Intangible | ||||||||||||||||||||
Lists | Lists | Assets | |||||||||||||||||||||||
31-Dec-13 | |||||||||||||||||||||||||
Cost | $ | 1,697 | $ | 48 | $ | 2,677 | $ | 2,964 | $ | 1,084 | $ | 8,470 | |||||||||||||
Accumulated amortization | (1,170 | ) | (41 | ) | (2,466 | ) | (2,472 | ) | (904 | ) | (7,053 | ) | |||||||||||||
Net book value | $ | 527 | $ | 7 | $ | 211 | $ | 492 | $ | 180 | $ | 1,417 | |||||||||||||
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 | |||||||||||||
Estimated useful lives | 17 years | 7 years | 7 years | 7 years | 7 years | ||||||||||||||||||||
We purchased no intangible assets in 2013 or 2012. All changes in the cost of Brazil segment intangibles are due to foreign currency translation. Amortization expense is expected to be $0.9 million in 2014, $0.3 million in 2015, $0.1 million in 2016 and $0.1 million in 2017. |
DEBT
DEBT | 12 Months Ended | |||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||
DEBT [Abstract] | ' | |||||||||||||||||
DEBT | ' | |||||||||||||||||
NOTE 9. DEBT | ||||||||||||||||||
The following table summarizes current and long-term portions of debt (in thousands): | ||||||||||||||||||
2013 | 2012 | |||||||||||||||||
Corporate segment: | ||||||||||||||||||
Senior revolving note, net | $ | 1,988 | $ | - | ||||||||||||||
Senior convertible debentures, net | - | 1,048 | ||||||||||||||||
Subordinated convertible notes, net | - | 4,041 | ||||||||||||||||
Subordinated notes, net | 4,262 | - | ||||||||||||||||
Other | - | 28 | ||||||||||||||||
6,250 | 5,117 | |||||||||||||||||
Brazil segment: | ||||||||||||||||||
Capital expansion loans | 4,795 | 5,555 | ||||||||||||||||
Equipment financing | 174 | 201 | ||||||||||||||||
Working capital lines of credit | 3,213 | 2,227 | ||||||||||||||||
Advances on export letters of credit | 2,386 | 3,953 | ||||||||||||||||
Special tax programs | 2,351 | 2,531 | ||||||||||||||||
12,919 | 14,467 | |||||||||||||||||
Total debt | 19,169 | 19,584 | ||||||||||||||||
Current portion | 8,250 | 8,003 | ||||||||||||||||
Long-term portion | $ | 10,919 | $ | 11,581 | ||||||||||||||
Required future minimum payments on our debt as of December 31, 2013, follow (in thousands). | ||||||||||||||||||
Corporate | Brazil | Total | ||||||||||||||||
Segment | Segment | |||||||||||||||||
2014 | $ | 1,988 | $ | 6,262 | $ | 8,250 | ||||||||||||
2015 | - | 1,767 | 1,767 | |||||||||||||||
2016 | 6,535 | 1,032 | 7,567 | |||||||||||||||
2017 | - | 1,005 | 1,005 | |||||||||||||||
2018 | - | 955 | 955 | |||||||||||||||
Thereafter | - | 1,898 | 1,898 | |||||||||||||||
8,523 | 12,919 | 21,442 | ||||||||||||||||
Discount | (2,273 | ) | - | (2,273 | ) | |||||||||||||
Total debt | $ | 6,250 | $ | 12,919 | $ | 19,169 | ||||||||||||
As of December 31, 2013, none of the agreements for our outstanding debt contain financial covenants, except for the senior convertible revolving note. As of December 31, 2013, we were in compliance with those covenants. | ||||||||||||||||||
Corporate Segment | ||||||||||||||||||
2013 Senior Revolving Note | ||||||||||||||||||
Under a 2013 revolving credit facility with TCA Global Credit Master Fund, LP (TCA), as amended, 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. We owe TCA various other fees under the agreement that are expected to average approximately 7% of average borrowings per year. | ||||||||||||||||||
USA segment accounts receivable, exclusive of our January 2014 acquired subsidiary H&N Distribution, Inc., 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 October 2014. Minimum cumulative repayments are $1.1 million as of March 2014, $1.8 million as of June 2014 and $2.7 million as of September 2014. Until cumulative repayments equal the required minimum, TCA may withhold 20% of collections. We may request, generally 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 2013, amounts outstanding under the agreement averaged $1.0 million. | ||||||||||||||||||
During 2013, we borrowed $2.8 million under the TCA revolving note in three tranches. The proceeds net of cash expenses totaled $2.5 million and were used to (i) pay down $0.4 million of debt, (ii) fund $0.9 million of investments in Nutra SA and (iii) for general corporate purposes. In addition to cash expenses, we issued TCA 37,260 shares of our common stock with a combined market value of $0.5 million at the dates of issuance. We also issued warrants to investment bankers with a fair value of $0.5 million at issuance for the purchase of 12,000 shares of common stock, exercisable at prices ranging from $16.00 to $16.80 per share, which expire in 2018. The total $1.0 million costs incurred with the three tranche closings, consisting of $0.4 million of cash expenses and the $0.6 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. | ||||||||||||||||||
In the first quarter of 2014, we redeemed $0.4 million of the shares of our common stock issued in connection with the three tranches and are required to redeem the remainder of the shares in the second quarter of 2014. As of December 2013, the shares of common stock issued to TCA, are recorded as a liability at the $0.5 million redemption value of the shares. | ||||||||||||||||||
TCA had the right to voluntarily convert upon an event of default, as defined in the agreement, all or any portion of the outstanding principal, interest and other amounts due under the agreement into shares of our common stock. In December 2013, TCA agreed to remove this right from the agreements for a $0.1 million amendment fee, which was added to the principal of the note. | ||||||||||||||||||
During the term of the TCA agreement, the Corporate and USA segments may not without TCA’s consent or approval, among other things, (i) incur certain 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. | ||||||||||||||||||
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. | ||||||||||||||||||
2013 Senior Convertible Debentures | ||||||||||||||||||
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 per share. 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. | ||||||||||||||||||
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 was 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. | ||||||||||||||||||
2013 Subordinated Notes and Subordinated Convertible Notes | ||||||||||||||||||
In 2013, the holders of our subordinated convertible notes agreed to amend their notes to reduce the interest rate to 5% from 10%, change the maturity of the notes to July 2016 (if there was a different maturity date) and to remove the conversion feature and antidilution protections upon the closing of an equity raise in excess of $7.0 million (Modification). The notes remain secured by a junior interest in substantially all of our assets, excluding our interest in Nutra SA and RBT PRO, LLC. Concurrently, certain warrant holders agreed to exchange warrants to purchase 496,060 shares of common stock for the future issuance of 1,554,734 shares of our common stock (Exchange). Most of the warrants impacted (warrants to purchase 441,395 shares) were warrants issued to the note holders when their notes were originally issued and had contained antidilution protections which caused them to be carried at fair value on our balances sheets. The former warrant holders committed to exchange their warrants, which were cancelled upon closing an equity raise of at least $7.0 million; however the shares will not be issued until after shareholders vote to approve an increase in our authorized shares of common stock. If shareholders do not approve an increase to the authorized number of shares of common stock by July 1, 2014, the interest rate on the notes will increase to 10%. | ||||||||||||||||||
We accounted for the issuance of the new notes and related obligation to issue stock as a significant modification upon the December 18, 2013 closing of an equity raise in excess of $7.0 million. We recognized a $2.3 million loss on extinguishment for the difference between the fair values of the new subordinated notes and related obligation to issue stock and the total of (i) the fair values of the conversion features embedded in the old notes, (ii) the fair value of the old warrants and (iii) the carrying amount of the old notes and debt issuance costs. | ||||||||||||||||||
In November 2013, an investor purchased subordinated notes in the principal amount of $0.5 million. The notes mature July 2016 and bear interest payable quarterly at the rate of 5%. We also agreed to issue 134,250 shares of common stock to this investor, however the shares will not be issued until after shareholders vote to approve an increase in our authorized shares of common stock. If shareholders do not approve an increase to the authorized number of shares of common stock by July 1, 2014, the interest rate on the notes will increase to 10%. The proceeds of $0.5 million were allocated between the debt ($0.1 million) and equity ($0.4 million) based on the relative fair value of the debt and the obligation to issue stock. We recognized no income or expense upon the issuance of the debt. As a result, we are recognizing interest expense on the debt at an effective interest rate of 81.1%. | ||||||||||||||||||
In the second quarter of 2013, we issued subordinated convertible notes and related warrants, which are described in the chart below. | ||||||||||||||||||
Issuance | Principal | Creditor's | Stated | Maturity | Number of | Exercise | Expiration | |||||||||||
Amount of | Debt | Annual | Date of Debt | Shares | Price of | Date of | ||||||||||||
Notes (in | Conversion | Interest | Under | Warrant | Warrant | |||||||||||||
thousands) | Right | Rate on | Warrant | |||||||||||||||
Debt | ||||||||||||||||||
Subordinated Convertible Notes and Warrants | $ | 538 | Convertible immediately at $14.00 per share | 10 | % | July 2015 or July 2016 | 38,400 | Exercisable immediately at $16.00 per share | July 2017 or May 2018 | |||||||||
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. The notes and related warrants were impacted by the Modification and Exchange described previously. 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. | ||||||||||||||||||
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. | ||||||||||||||||||
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. | ||||||||||||||||||
Other holders of convertible notes in the principal amount of $0.3 million made the PIK Election, without making an additional investment. | ||||||||||||||||||
As a consequence of the PIK Elections, in 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. In 2013, through the date of the Modification and Exchange we had increased note principal by $0.1 million, increased the shares of common stock underlying PIK warrants by 8,709 shares and increased the shares of common stock underlying the notes by 8,709 shares. | ||||||||||||||||||
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 were recorded as interest expense until the Modification and Exchange occurred. | ||||||||||||||||||
2012 Senior Convertible Debenture and Subordinated Convertible Notes | ||||||||||||||||||
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. | ||||||||||||||||||
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 was payable monthly at an annual rate of 10%. 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). | ||||||||||||||||||
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 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). | ||||||||||||||||||
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. | ||||||||||||||||||
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. | ||||||||||||||||||
The other 2012 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. | ||||||||||||||||||
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 were amortized to interest expense under the effective interest method. As a result we were 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%. | ||||||||||||||||||
The debt discounts on the other senior convertible debentures and subordinated convertible notes were 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 were also being amortized to interest expense under the effective interest method, in a similar fashion. | ||||||||||||||||||
Changes in the fair value of the derivative conversion and warrant liabilities subsequent to issuance were 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, were 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. | ||||||||||||||||||
The $2.4 million of the $3.6 million in proceeds from the 2012 issuances of convertible debt and related warrants were used to make the final distributions to the unsecured creditors in January 2012 and the remainder was used for general corporate purposes. | ||||||||||||||||||
Brazil Segment | ||||||||||||||||||
All Brazil segment debt is denominated in the Brazilian Real (R$), 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$9.5 million (a total of $4.0 million based on the December 31, 2013, 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 ($0.7 million based on the December 31, 2013, 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 17.8%, and average 15.0%. Interest and principal on this debt is payable monthly and payments extend through March 2017. 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 cannot exceed 30%-110% of the collateral, depending on the agreement. The annual interest rates on this debt range from 10.4% to 60.0%, and average 21.7%. Principal maturities of amounts outstanding at December 31, 2013, extend through December 2015. | ||||||||||||||||||
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 3.9% to 6.0%, and average 5.5%. Principal maturities of amounts outstanding at December 31, 2013, extend through May 2014. | ||||||||||||||||||
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 9.0% at December 31, 2013. |
EQUITY_AND_SHAREBASED_COMPENSA
EQUITY AND SHARE-BASED COMPENSATION | 12 Months Ended | |||||||||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||||||||
EQUITY AND SHARE-BASED COMPENSATION [Abstract] | ' | |||||||||||||||||||||||||||
EQUITY AND SHARE-BASED COMPENSATION | ' | |||||||||||||||||||||||||||
NOTE 10. 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. | ||||||||||||||||||||||||||||
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. | ||||||||||||||||||||||||||||
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. | ||||||||||||||||||||||||||||
In December 2013, we completed a secondary public offering in which we issued and sold 1,714,286 shares of common stock for $5.24 per share and publicly traded warrants to purchase 1,714,286 shares of common stock for $0.01 per underlying share. The net proceeds from the offering were $7.6 million after deducting underwriting discounts and commissions of $0.7 million and other offering expenses of approximately $1.4 million. The publicly traded warrants have an exercise price of $6.55 per share and expire in December 2018. The underwriter on the offering also received a warrant for the purchase of 85,715 shares, at an exercise price of $6.55 per share, which expires in December 2018. | ||||||||||||||||||||||||||||
In January 2014, the underwriters exercised their overallotment rights and we issued and sold an additional 162,586 shares of common stock for $5.24 per share and additional publicly traded warrants to purchase 162,586 shares of common stock for $0.01 per underlying share. In connection with the overallotment exercise, the underwriters on the offering also received a warrant for the purchase of 8,130 shares, at an exercise price of $6.55 per share, which expires in December 2018. | ||||||||||||||||||||||||||||
In March 2014, we completed a private placement offering. We issued convertible notes in the principal amount of $4.9 million and warrants for the purchase of up to 1,399,614 shares of common stock. The notes are due in July 2016, bear interest at 5% interest and automatically convert at a conversion price of $5.25, upon shareholders voting to approve an increase in our authorized shares of common stock. The warrants have an exercise price of $5.25 per share and expire in March 2019. We contributed $1.0 million of the $4.6 million gross proceeds to Nutra SA, and intend to use the remainder of the proceeds for capital project in the United States and for general corporate purposes. | ||||||||||||||||||||||||||||
A summary of stock option and warrant activity for 2013 and 2012 follows. | ||||||||||||||||||||||||||||
Options | Equity and Liability Warrants | |||||||||||||||||||||||||||
Shares | Weighted | Weighted | Shares | Weighted | Weighted | |||||||||||||||||||||||
Under | Average | Average | Under | Average | Average | |||||||||||||||||||||||
Options | Exercise | Remaining | Warrants | Exercise | Remaining | |||||||||||||||||||||||
Price | Contractual | Price | Contractual | |||||||||||||||||||||||||
Life (Years) | Life (Years) | |||||||||||||||||||||||||||
Outstanding, January 1, 2012 | 192,944 | $ | 54 | 6.3 | 233,947 | $ | 208 | 1.7 | ||||||||||||||||||||
Granted | 29,060 | 30 | 423,782 | 20 | ||||||||||||||||||||||||
Impact of anti-dilution clauses | - | NA | 518,720 | NA | ||||||||||||||||||||||||
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 | ||||||||||||||||||||||
Granted or issued | 40,000 | 15.38 | 1,859,111 | 6.85 | ||||||||||||||||||||||||
Impact of anti-dilution clauses | - | NA | 385,292 | NA | ||||||||||||||||||||||||
Impact of amendment | - | NA | (496,061 | ) | NA | |||||||||||||||||||||||
Exercised | - | NA | - | - | ||||||||||||||||||||||||
Forfeited, expired or cancelled | (29,817 | ) | 50.58 | (148,829 | ) | 66.92 | ||||||||||||||||||||||
Outstanding, December 31, 2013 | 179,437 | $ | 24.28 | 6.2 | 2,406,282 | $ | 6.33 | 4.5 | ||||||||||||||||||||
Exercisable, December 31, 2013 | 157,012 | $ | 25.23 | 5.9 | 2,320,567 | $ | 6.32 | 4.4 | ||||||||||||||||||||
Options | ||||||||||||||||||||||||||||
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 a 40,000 increase in the number of shares of common stock reserved under the plan. In 2013, the board froze the plan and there are no longer any shares reserved for future issuance under the 2010 Plan. | ||||||||||||||||||||||||||||
Under the terms of the 2010 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. Our board of directors administered the 2010 Plan, determined vesting schedules on plan awards and could accelerate the vesting schedules for award recipients. The options granted under the 2010 Plan have terms of up to 10 years. There are no longer any shares reserved for future issuance under the 2010 Plan. | ||||||||||||||||||||||||||||
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. | ||||||||||||||||||||||||||||
We have outstanding a total of 17,384 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. | ||||||||||||||||||||||||||||
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): | ||||||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||||||
Consultants | $ | 16 | $ | 42 | ||||||||||||||||||||||||
Directors | 262 | 285 | ||||||||||||||||||||||||||
Employees | 127 | 152 | ||||||||||||||||||||||||||
Executive officers | 133 | 444 | ||||||||||||||||||||||||||
Total share-based compensation expense, options | $ | 538 | $ | 923 | ||||||||||||||||||||||||
The following table summarizes option activity during 2013 and 2012: | ||||||||||||||||||||||||||||
Employees and Directors | Consultants | |||||||||||||||||||||||||||
Weighted | Weighted | Total | ||||||||||||||||||||||||||
Shares | Average | Shares | Average | Shares | ||||||||||||||||||||||||
Underlying | Exercise | Underlying | Exercise | Underlying | ||||||||||||||||||||||||
Options | Price | Options | Price | Options | ||||||||||||||||||||||||
Outstanding, January 1, 2012 | 180,494 | $ | 48 | 12,450 | $ | 152 | 192,944 | |||||||||||||||||||||
Granted | 28,060 | 26 | 1,000 | 16 | 29,060 | |||||||||||||||||||||||
Forfeited, expired or cancelled | (50,250 | ) | 58 | (2,500 | ) | 266 | (52,750 | ) | ||||||||||||||||||||
Exercised | - | NA | - | NA | - | |||||||||||||||||||||||
Outstanding, December 31, 2012 | 158,304 | 26 | 10,950 | 106 | 169,254 | |||||||||||||||||||||||
Granted | 38,750 | 15.36 | 1,250 | 16 | 40,000 | |||||||||||||||||||||||
Forfeited, expired or cancelled | (27,317 | ) | 27.75 | (2,500 | ) | 300 | (29,817 | ) | ||||||||||||||||||||
Exercised | - | NA | - | NA | - | |||||||||||||||||||||||
Outstanding, December 31, 2013 | 169,737 | $ | 23.13 | 9,700 | $ | 44.45 | 179,437 | |||||||||||||||||||||
Exercisable, December 31, 2013 | 148,698 | $ | 24.31 | 8,314 | $ | 41.72 | 157,012 | |||||||||||||||||||||
As of December 31, 2013, our outstanding options have no intrinsic value. The average fair value of options granted was $11.18 per share in 2013 and $20.00 per share in 2012. The following are the assumptions used in valuing stock options: | ||||||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||||||
Assumed volatility | 119.2%-122.3% | 104.4%-113.3% | ||||||||||||||||||||||||||
(121.1% weighted average) | (109.2% weighted average) | |||||||||||||||||||||||||||
Assumed risk free interest rate | 0.7%-1.4% | 0.2%-1.0% | ||||||||||||||||||||||||||
(0.9% weighted average) | (0.9% weighted average) | |||||||||||||||||||||||||||
Average expected life of options (in years) | 6.2 | 6.1 | ||||||||||||||||||||||||||
Expected dividends | - | - | ||||||||||||||||||||||||||
Forfeiture rate | 5% | 5% | ||||||||||||||||||||||||||
The following table summarizes information related to outstanding and exercisable options: | ||||||||||||||||||||||||||||
As of December 31, 2013 | ||||||||||||||||||||||||||||
Outstanding | Exercisable | |||||||||||||||||||||||||||
Range of Exercise | Shares | Weighted | Weighted | Shares | Weighted | Weighted | ||||||||||||||||||||||
Prices | Underlying | Average | Average | Underlying | Average | Average | ||||||||||||||||||||||
Options | Remaining | Exercise | Options | Remaining | Exercise | |||||||||||||||||||||||
Contractual | Price | Contractual | Price | |||||||||||||||||||||||||
Life (Years) | Life (Years) | |||||||||||||||||||||||||||
$ | 6.00 to $16.00 | 135,989 | 7 | $ | 15.82 | 114,636 | 6.8 | $ | 16 | |||||||||||||||||||
28 | 1,457 | 7.2 | 28 | 1,457 | 8.2 | 28 | ||||||||||||||||||||||
40 | 23,991 | 4.8 | 40 | 23,991 | 4.8 | 40 | ||||||||||||||||||||||
60 | 15,000 | 1 | 60 | 15,000 | 1 | 60 | ||||||||||||||||||||||
74 | 2,500 | 7.2 | 74 | 1,428 | 7.2 | 74 | ||||||||||||||||||||||
242 | 500 | 2 | 242 | 500 | 2 | 242 | ||||||||||||||||||||||
16.00 to $242.00 | 179,437 | 6.2 | $ | 24.28 | 157,012 | 5.9 | $ | 25.23 | ||||||||||||||||||||
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. | ||||||||||||||||||||||||||||
In April 2013, the Board granted each of the two directors serving on the strategic committee and consulting special counsel each 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. | ||||||||||||||||||||||||||||
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. | ||||||||||||||||||||||||||||
Warrants | ||||||||||||||||||||||||||||
We have outstanding warrants classified as equity (equity warrants) and others classified 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. | ||||||||||||||||||||||||||||
Certain equity issuance in 2013 and 2012 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. | ||||||||||||||||||||||||||||
Equity Warrants | Liability Warrants | |||||||||||||||||||||||||||
Shares | Weighted | Weighted | Shares | Weighted | Weighted | |||||||||||||||||||||||
Underlying | Average | Average | Underlying | Average | Average | |||||||||||||||||||||||
Remaining | Exercise | Remaining | Exercise | |||||||||||||||||||||||||
Contractual | Price | Contractual | Price | |||||||||||||||||||||||||
Life | Life | |||||||||||||||||||||||||||
(Years) | (Years) | |||||||||||||||||||||||||||
Balance, January 1, 2011 | 17,372 | 3.5 | $ | 60 | 216,575 | 1.5 | $ | 220 | ||||||||||||||||||||
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 | 2.4 | 90 | 801,013 | 3.5 | 24 | ||||||||||||||||||||||
Granted | 1,820,711 | 6.66 | 38,400 | 16 | ||||||||||||||||||||||||
Impact of antidilution clauses | - | - | 385,292 | NA | ||||||||||||||||||||||||
Impact of amendment | (8,711 | ) | - | (487,350 | ) | NA | ||||||||||||||||||||||
Exercised | - | - | - | NA | ||||||||||||||||||||||||
Forfeited, expired or cancelled | (2,722 | ) | 137.6 | (146,107 | ) | 65.6 | ||||||||||||||||||||||
Outstanding, December 31, 2013 | 1,815,034 | 5 | $ | 6.69 | 591,248 | 2.9 | $ | 5.24 | ||||||||||||||||||||
Exercisable, December 31, 2013 | 1,729,319 | 5 | $ | 6.69 | 591,248 | 2.9 | $ | 5.24 | ||||||||||||||||||||
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: | ||||||||||||||||||||||||||||
Outstanding | Exercisable | |||||||||||||||||||||||||||
Range of | Type of | Shares | Weighted | Weighted | Shares | Weighted | Weighted | |||||||||||||||||||||
Exercise Prices | Warrant | Under | Average | Average | Under | Average | Average | |||||||||||||||||||||
Warrants | Remaining | Exercise | Warrants | Remaining | Exercise | |||||||||||||||||||||||
Contractual | Price | Contractual | Price | |||||||||||||||||||||||||
Life (Years) | Life (Years) | |||||||||||||||||||||||||||
$ | 5.24 | Liability | 591,248 | 2.9 | $ | 5.24 | 591,248 | 2.9 | $ | 5.24 | ||||||||||||||||||
6.55 | Equity | 1,800,001 | 5 | 6.55 | 1,714,286 | 5 | 6.55 | |||||||||||||||||||||
16.00 to $16.80 | Equity | 12,004 | 4.5 | 16.4 | 12,004 | 4.5 | 16.4 | |||||||||||||||||||||
46.8 | Equity | 3,029 | 2.9 | 46.8 | 3,029 | 2.9 | 46.8 | |||||||||||||||||||||
2,406,282 | 4.5 | $ | 6.33 | 2,320,567 | 4.4 | $ | 6.32 |
EQUITY_METHOD_INVESTMENT
EQUITY METHOD INVESTMENT | 12 Months Ended |
Dec. 31, 2013 | |
EQUITY METHOD INVESTMENT [Abstract] | ' |
EQUITY METHOD INVESTMENT | ' |
NOTE 11. 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. We account for our investment in RBT PRO under the equity method. Our investment in RBT PRO is zero as of December 31, 2013, and RBT PRO has had no net income or loss since inception. |
PREPETITION_LIABILITIES
PRE-PETITION LIABILITIES | 12 Months Ended |
Dec. 31, 2013 | |
PRE-PETITION LIABILITIES [Abstract] | ' |
PRE-PETITION LIABILITIES | ' |
NOTE 12. PRE-PETITION LIABILITIES | |
On November 10, 2009, we filed a voluntary petition for relief under Chapter 11 of the United States Bankruptcy Code. None of our subsidiaries were included in the bankruptcy filing. In January 2012, we made our final $1.6 million distribution to the general unsecured creditors. |
INCOME_TAXES
INCOME TAXES | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
INCOME TAXES [Abstract] | ' | ||||||||
INCOME TAXES | ' | ||||||||
NOTE 13. INCOME TAXES | |||||||||
Deferred tax assets (liabilities) are comprised of the following (in thousands): | |||||||||
As of December 31, | |||||||||
2013 | 2012 | ||||||||
United States | |||||||||
Net operating loss carryforwards | $ | 43,328 | $ | 41,374 | |||||
Gain on sale of membership interests in Nutra SA | 403 | 374 | |||||||
Stock options and warrants | 1,199 | 1,144 | |||||||
Intangible assets | 1,194 | 960 | |||||||
Property | 6,832 | 5,651 | |||||||
Capitalized expenses | 652 | 715 | |||||||
Convertible debt | (112 | ) | (399 | ) | |||||
Other | 451 | 86 | |||||||
Deferred tax assets | 53,947 | 49,905 | |||||||
Less: Valuation allowance | (53,947 | ) | (49,905 | ) | |||||
- | - | ||||||||
Brazil | |||||||||
Intangible assets | (228 | ) | (490 | ) | |||||
Property | (1,555 | ) | (2,165 | ) | |||||
Net operating loss carryforwards | 2,381 | 960 | |||||||
Other | 285 | 255 | |||||||
Net deferred tax asset (liability) | 883 | (1,440 | ) | ||||||
Less-valuation allowance | (883 | ) | - | ||||||
$ | - | $ | (1,440 | ) | |||||
Deferred tax asset - current | $ | - | $ | 234 | |||||
Deferred tax liability - long-term | - | (1,674 | ) | ||||||
$ | - | $ | (1,440 | ) | |||||
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. and Brazil deferred tax assets. The change in valuation allowance of $4.9 million in 2013 is due to (i) $3.9 million in net operating loss and (ii) $0.7 million from the impact of state rate changes, and (ii) $0.9 million for the establishment of a valuation allowance against Brazil deferred tax assets, offset by (i) the $0.4 million impact of expiring net operating losses and (ii) $0.2 million of other deferred items. 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. | |||||||||
As of December 31, 2013, net operating loss carryforwards for U.S. federal tax purposes totaled $116.2 million and expire at various dates from 2018 through 2033. Net operating loss carryforwards for state tax purposes totaled $68.4 million as of December 31, 2013, and expire at various dates from 2014 through 2033. As of December 31, 2013, net operating loss carryforwards for Brazil tax purposes totaled $7.0 million and do not expire but may be subject to substantial annual limitations (generally 30% of taxable income in any year.). | |||||||||
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 2010 and, generally, by U.S. state tax jurisdictions after 2009. We are open for audit by the Brazilian tax authorities for years after 2009. | |||||||||
Loss before income taxes is comprised of the following (in thousands): | |||||||||
2013 | 2012 | ||||||||
Foreign | $ | (6,832 | ) | $ | (5,051 | ) | |||
Domestic | (12,247 | ) | (8,020 | ) | |||||
Loss before income taxes | $ | (19,079 | ) | $ | (13,071 | ) | |||
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 $1.4 million in 2013 and $1.9 million in 2012 is all foreign deferred tax benefit. We have no U.S. tax provision or benefit in 2013 or 2012. | |||||||||
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): | |||||||||
2013 | 2012 | ||||||||
Income tax benefit at federal statutory rate | $ | (6,487 | ) | $ | (4,444 | ) | |||
Increase (decrease) resulting from: | |||||||||
State tax benefit, net of federal tax effect | (653 | ) | (251 | ) | |||||
Change in valuation allowance | 4,927 | (1,926 | ) | ||||||
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 | 255 | 602 | |||||||
Expiration of U.S. net operating losses | 415 | 1,460 | |||||||
Nontaxable fair value adjustment | 350 | (1,843 | ) | ||||||
Nondeductible convertible debt issuance expenses | 521 | 2,285 | |||||||
Impact of state rate changes | (677 | ) | - | ||||||
Nondeductible expenses | 6 | 10 | |||||||
Foreign taxes | - | 6 | |||||||
Adjustments to Brazil deferred balances | - | (222 | ) | ||||||
Adjustments to U.S. deferred balances | (96 | ) | 343 | ||||||
Income tax benefit | $ | (1,439 | ) | $ | (1,935 | ) | |||
We have not identified any uncertain tax positions requiring a reserve as of December 31, 2013 or 2012. |
COMMITMENTS_AND_CONTINGENCIES
COMMITMENTS AND CONTINGENCIES | 12 Months Ended |
Dec. 31, 2013 | |
COMMITMENTS AND CONTINGENCIES [Abstract] | ' |
COMMITMENTS AND CONTINGENCIES | ' |
NOTE 14. COMMITMENTS AND CONTINGENCIES | |
Employment Contracts | |
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. | |
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. | |
Leases | |
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, 2013, are as follows: $0.3 million for 2014; $0.3 million in 2015; $0.3 million in 2016, $0.1 million in 2017, $0.1 million in 2018 and $1.1 million thereafter. We incurred lease expense of $0.5 million in 2013 and $0.4 million in 2012. | |
Litigation | |
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. | |
Irgovel Purchase | |
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. 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 December 31 2013 and, 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 December, 2013 and, 2012, totaling $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 December 31, 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 to Nutra SA ninety percent of any funds received from the escrow account in excess of the sum of (i) $1.0 million and (ii) our contributions to Nutra SA made after March 25, 2014, with no resulting change in our Nutra SA voting rights. | |
Diabco Life Sciences, LLC | |
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. At trial August 2013, 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. In January 2014, the court issued its final judgment in the amount of $1.0 million. Diabco has filed a notice of appeal with the court challenging the final judgment. We have no receivable from Diabco recorded in the accompanying financial statements as recovery of the judgment is not reasonably assured. |
EMPLOYEE_BONUS_PLAN
EMPLOYEE BONUS PLAN | 12 Months Ended |
Dec. 31, 2013 | |
EMPLOYEE BONUS PLAN [Abstract] | ' |
EMPLOYEE BONUS PLAN | ' |
NOTE 15. EMPLOYEE BONUS PLAN | |
In 2010, our board of directors approved a cash incentive bonus plan. As of December 31, 2013, the plan, as amended, provided for payment of $0.7 million to employees, still employed at the time of payments, 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 was available for the payments as determined by our board at its sole discretion. In December 2013, our board approved payment of these bonuses and as of December 31, 2013, $0.6 million is accrued and unpaid. | |
In 2013, our board of directors approved an executive bonus plan which provided for payments of $0.3 million to employees, still employed at the time of payments, when cash was available for the payments as determined by our board at its sole discretion. In 2013, our board approved payment of these bonuses and as of December 31, 2013, $0.2 million is accrued and unpaid. |
RELATED_PARTY_TRANSACTIONS
RELATED PARTY TRANSACTIONS | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
RELATED PARTY TRANSACTIONS [Abstract] | ' | ||||||||
RELATED PARTY TRANSACTIONS | ' | ||||||||
NOTE 16. RELATED PARTY TRANSACTIONS | |||||||||
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 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. | |||||||||
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 | Number of | Exercise Price of Warrant | Expiration Date | ||||||
Warrants | Shares Under | of Warrant | |||||||
Warrants | |||||||||
-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 | 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 | In 2013, in connection with the Exchange, these warrants were cancelled in exchange for 75,377 shares of our common stock (with a fair value of $0.3 million at time of the Exchange), however the shares will not be issued until after shareholders vote to approve an increase in our authorized shares of common stock. If shareholders do not approve an increase to the authorized number of shares of common stock by July 1, 2014, the interest rate on the replacement notes will increase from 5% to 10%. | ||||||||
Other transactions with Mr. Halpern, HC and Halpern Entities are summarized below (in thousands): | |||||||||
2013 | 2012 | ||||||||
Success fees earned by HC under financial advisor agreement payable in cash | $ | - | $ | 164 | |||||
Interest earned on convertible debt | 306 | 243 | |||||||
Interest paid on convertible debt | 288 | 242 | |||||||
Payments to HC relevant to HC's class 6 general unsecured creditor claim | - | 256 | |||||||
As of December 31, 2013 and 2012, 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 the Debt note to these financial statements, 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. | |||||||||
As a result of the Modification, the terms of the subordinated convertible notes beneficially owned by Mr. Halpern in the principal amount of $2.6 million were replaced with subordinated notes under the terms of the Modification. As a result of the Exchange, the warrants for the purchase of up to 185,714 shares of common stock ($14.00 per share exercise price with a July 31, 2017 expiration), related to the subordinated convertible notes beneficially owned by Mr. Halpern, were cancelled in exchange for 634,679 shares of our common stock (with a fair value of $2.9 million at time of the Exchange), however the shares will not be issued until after shareholders vote to approve an increase in our authorized shares of common stock. If shareholders do not approve an increase to the authorized number of shares of common stock by July 1, 2014, the interest rate on the replacement notes will increase from 5% to 10%. Mr. Halpern received consideration in the Modification and Exchange consistent with other subordinated convertible note and warrant holders. We recognized a gain on extinguishment of $0.4 million on the Modification and Exchange transactions with Mr. Halpern. | |||||||||
Transactions with Other Directors | |||||||||
In April 2012, Henk Hoogenkamp became a member of our board of directors. Effective January 1, 2012, under a 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 2013 and 2012, 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 2013 and 2012 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 2013 and 2012, we paid and expensed less than $0.1 million for interest on these three subordinated convertible notes. Their notes were modified in the Modification and the related warrants were cancelled in the Exchange. | |||||||||
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 2013 and 2012, we paid less than $1 thousand of interest on the convertible notes. 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 234 underlying shares of common stock, and we increased the shares underlying Mr. Short’s convertible notes by 234 shares as payment for interest accruing under the convertible notes from February 2013 through October 2013. |
SEGMENT_INFORMATION
SEGMENT INFORMATION | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
SEGMENT INFORMATION [Abstract] | ' | ||||||||||||||||
SEGMENT INFORMATION | ' | ||||||||||||||||
NOTE 17. SEGMENT INFORMATION | |||||||||||||||||
We have two reportable operating segments in 2013: (i) USA segment, which manufactures and distributes SRB in various granulations along with Stage II products and derivatives and (ii) Brazil segment, which extracts crude RBO and DRB from rice bran, which are then further processed into fully refined rice bran oil for sale internationally and in Brazil, compounded animal nutrition products for horses, cows, swine, sheep and poultry and a number of valuable human food and animal nutrition products derivatives and co-products. In addition we incur corporate and other expenses not directly attributable to operating segments, which include costs related to our corporate staff, general and administrative expenses including public company expenses, intellectual property, professional fees, and other expenses. No Corporate allocations, including interests, are made to the operating segments. | |||||||||||||||||
The table below presents segment information for the years identified and provides a reconciliation of segment information to total consolidated information (in thousands). | |||||||||||||||||
2013 | |||||||||||||||||
Corporate | USA | Brazil | Consolidated | ||||||||||||||
Revenues | $ | - | $ | 12,023 | $ | 23,028 | $ | 35,051 | |||||||||
Cost of goods sold | - | 9,078 | 22,028 | 31,106 | |||||||||||||
Gross profit | - | 2,945 | 1,000 | 3,945 | |||||||||||||
Depreciation and amortization (in selling, general and administrative) | (24 | ) | (469 | ) | (756 | ) | (1,249 | ) | |||||||||
Impairment of property | - | (300 | ) | - | (300 | ) | |||||||||||
Other operating expenses | (5,918 | ) | (2,006 | ) | (4,442 | ) | (12,366 | ) | |||||||||
Income (loss) from operations | $ | (5,942 | ) | $ | 170 | $ | (4,198 | ) | $ | (9,970 | ) | ||||||
Net income (loss) attributable to RiceBran Technologies shareholders | $ | (12,418 | ) | $ | 170 | $ | (2,773 | ) | $ | (15,021 | ) | ||||||
Interest expense | (1,950 | ) | - | (1,984 | ) | (3,934 | ) | ||||||||||
Depreciation (in cost of goods sold) | - | (926 | ) | (1,873 | ) | (2,799 | ) | ||||||||||
Purchases of property | 21 | 191 | 2,907 | 3,119 | |||||||||||||
Property, net, end of period | 55 | 7,231 | 17,672 | 24,958 | |||||||||||||
Goodwill, end of period | - | - | 4,139 | 4,139 | |||||||||||||
Intangible assets, net, end of period | - | 745 | 672 | 1,417 | |||||||||||||
Total assets, end of period | 6,039 | 9,796 | 28,743 | 44,578 | |||||||||||||
2012 | |||||||||||||||||
Corporate | USA | Brazil | Consolidated | ||||||||||||||
Revenues | $ | - | $ | 12,633 | $ | 25,090 | $ | 37,723 | |||||||||
Cost of goods sold | - | 8,946 | 22,705 | 31,651 | |||||||||||||
Gross profit | - | 3,687 | 2,385 | 6,072 | |||||||||||||
Intersegment fees | 347 | - | (347 | ) | - | ||||||||||||
Depreciation and amortization (in selling, general and administrative) | (197 | ) | (1,006 | ) | (859 | ) | (2,062 | ) | |||||||||
Impairment of property | - | (1,069 | ) | - | (1,069 | ) | |||||||||||
Other operating expenses | (4,768 | ) | (2,364 | ) | (4,496 | ) | (11,628 | ) | |||||||||
Loss from operations | $ | (4,618 | ) | $ | (752 | ) | $ | (3,317 | ) | $ | (8,687 | ) | |||||
Net loss attributable to RiceBran Technologies shareholders | $ | (7,046 | ) | $ | (770 | ) | $ | (1,693 | ) | $ | (9,509 | ) | |||||
Interest expense | (743 | ) | (17 | ) | (1,166 | ) | (1,926 | ) | |||||||||
Depreciation (in cost of goods sold) | - | (899 | ) | (1,651 | ) | (2,550 | ) | ||||||||||
Purchases of property | 1 | 150 | 6,331 | 6,482 | |||||||||||||
Property, net, end of period | 36 | 8,731 | 19,690 | 28,457 | |||||||||||||
Goodwill, end of period | - | - | 4,773 | 4,773 | |||||||||||||
Intangible assets, net, end of period | - | 1,133 | 1,442 | 2,575 | |||||||||||||
Total assets, end of period | 3,201 | 11,609 | 32,196 | 47,006 | |||||||||||||
All changes in goodwill between December 31, 2013 and December 31, 2012, relate to foreign currency translation. | |||||||||||||||||
The following table presents revenues data by geographic area (in thousands): | |||||||||||||||||
2013 | 2012 | ||||||||||||||||
United States | $ | 12,869 | $ | 16,177 | |||||||||||||
Brazil | 17,861 | 18,266 | |||||||||||||||
Other international | 4,321 | 3,280 | |||||||||||||||
Total revenues | $ | 35,051 | $ | 37,723 |
FAIR_VALUE_MEASUREMENT
FAIR VALUE MEASUREMENT | 12 Months Ended | |||||||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||||||
FAIR VALUE MEASUREMENT [Abstract] | ' | |||||||||||||||||||||||||
FAIR VALUE MEASUREMENT | ' | |||||||||||||||||||||||||
NOTE 18. 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 December 31 2013, the fair value of our USA segment debt (Level 3 measurement) is approximately $0.3 million higher than the $6.2 million carrying value of that debt, based on current market rates for similar debt with similar maturities. The fair value of our Brazil segment debt (Level 3 measurement) 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. | ||||||||||||||||||||||||||
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 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. | |||||||||||||||||||||||||
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): | ||||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | |||||||||||||||||||||||
31-Dec-13 | ||||||||||||||||||||||||||
Derivative warrant liabilities | -1 | $ | - | $ | - | $ | (1,685 | ) | $ | (1,685 | ) | |||||||||||||||
Total liabilities at fair value | $ | - | $ | - | $ | (1,685 | ) | $ | (1,685 | ) | ||||||||||||||||
31-Dec-12 | ||||||||||||||||||||||||||
Derivative warrant liabilities | -1 | $ | - | $ | - | $ | (4,520 | ) | $ | (4,520 | ) | |||||||||||||||
Derivative conversion liabilities | -2 | - | - | (2,199 | ) | (2,199 | ) | |||||||||||||||||||
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. | |||||||||||||||||||||||||
31-Dec-13 | 31-Dec-12 | |||||||||||||||||||||||||
Risk-free interest rate | 0.1% - 0.6% | 0.1% - 0.7% | ||||||||||||||||||||||||
(0.5% weighted average) | (0.6% weighted average) | |||||||||||||||||||||||||
Expected volatility | 107% | 93% | ||||||||||||||||||||||||
-2 | These conversion liabilities were 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 | ||||||||||||||||||||||||||
Risk-free interest rate | 0.2%-0.3% | |||||||||||||||||||||||||
(0.3% weighted average) | ||||||||||||||||||||||||||
Expected volatility | 93% | |||||||||||||||||||||||||
The following tables summarize the changes in level 3 items measured at fair value on a recurring basis (in thousands): | ||||||||||||||||||||||||||
Fair Value | Total | Issuance of | Net | Fair Value, | Change in | |||||||||||||||||||||
as of | Realized | New | Transfers | at End of | Unrealized | |||||||||||||||||||||
Beginning of | and | Instruments | (Into) Out of | Period | Gains | |||||||||||||||||||||
Period | Unrealized | Level 3 | (Losses) on | |||||||||||||||||||||||
Gains | Instruments | |||||||||||||||||||||||||
(Losses) | Still Held | |||||||||||||||||||||||||
2013 | (1 | ) | ||||||||||||||||||||||||
Derivative warrant liability | $ | (4,520 | ) | $ | (950 | ) | $ | (575 | ) | $ | 4,360 | -2 | $ | (1,685 | ) | $ | (372 | ) | ||||||||
Derivative conversion liability | (2,199 | ) | (80 | ) | (598 | ) | 2,877 | -3 | - | NA | ||||||||||||||||
Total Level 3 fair value | $ | (6,719 | ) | $ | (1,030 | ) | $ | (1,173 | ) | $ | 7,237 | $ | (1,685 | ) | $ | (372 | ) | |||||||||
2012 | ||||||||||||||||||||||||||
Derivative warrant liability | $ | (1,296 | ) | $ | 3,048 | $ | (6,983 | ) | $ | 711 | -4 | $ | (4,520 | ) | $ | 3,320 | ||||||||||
Derivative conversion liability | - | 2,372 | (4,466 | ) | (105 | ) (5) | (2,199 | ) | 2,372 | |||||||||||||||||
Total Level 3 fair value | $ | (1,296 | ) | $ | 5,420 | $ | (11,449 | ) | $ | 606 | $ | (6,719 | ) | $ | 5,692 | |||||||||||
-1 | Included in change in fair value of derivative warrant and conversion liabilities in our consolidated statements of operations. | |||||||||||||||||||||||||
-2 | Represents fair value of warrants cancelled in connection with the Exchange. | |||||||||||||||||||||||||
-3 | Represents $2.8 million fair value of conversion liabilities when eliminated in connection with the Modification and $0.1 million as a result of conversions of debt. | |||||||||||||||||||||||||
-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 a replacement senior convertible debenture. | |||||||||||||||||||||||||
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): | ||||||||||||||||||||||||||
As of December 31, 2013 | 2013 | |||||||||||||||||||||||||
Impairment | ||||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | Losses | ||||||||||||||||||||||
-1 | ||||||||||||||||||||||||||
Property, net | -1 | $ | - | $ | - | $ | 394 | $ | 394 | $ | 300 | |||||||||||||||
Property, net | $ | - | $ | - | $ | 394 | $ | 394 | $ | 300 | ||||||||||||||||
As of December 31, 2012 | 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. |
HN_ACQUISITION
H&N ACQUISITION | 12 Months Ended |
Dec. 31, 2013 | |
H&N ACQUISITION [Abstract] | ' |
H&N ACQUISITION | ' |
NOTE 19. H&N ACQUISITION | |
In January 2014, we purchased all of the outstanding shares of H&N Distribution, Inc. (H&N) for $2.0 million in cash plus promissory notes for $3.3 million with an annual interest rate of 1%. We have the option to pay principal and accrued interest under the notes in either cash or in our common stock, however, if we issue shares to our former warrants holders upon an increase in authorized shares, under the terms of the Exchange, then we must settle any outstanding balance on the notes at that time through the issuance of shares of our common stock. In the event we elect to pay the notes in our common stock, payment must be made by January 2015. The number of shares issued to the former H&N shareholders under the notes will be based on the volume weighted average price of our common stock for the thirty trading days ending on the second business day immediately before our election to pay the note in shares of our common stock, but in no event shall such price be lower than $6.00 or higher than $12.00. If we elect to pay the note in cash, we agree to make equal quarterly payments commencing on March 31, 2015 and ending on December 31, 2018. During this payment period, the annual interest rate under the notes will increase from 1% to 5% and shall further increase to 10% after January 2016. We also entered into a five-year employment agreement with H&N’s former chief executive officer and founder, Mark McKnight. | |
We have not yet finalized the fair value allocation of assets and liabilities acquired from H&N. |
SUMMARY_OF_SIGNIFICANT_ACCOUNT1
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies) | 12 Months Ended |
Dec. 31, 2013 | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract] | ' |
Principles of Consolidation | ' |
Principles of Consolidation – The consolidated financial statements include the accounts of RiceBran Technologies 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. The balance sheet of Irgovel is translated into U.S. Dollars using the exchange rate in effect at the balance sheet date. Irgovel’s 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, 2013, we maintained our cash, including restricted cash, and cash equivalents, with major banks. We maintain cash in bank accounts in amounts 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 the provision for doubtful accounts. We periodically 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. | |
We test goodwill and other indefinite-lived intangible assets for impairment on an annual basis or on an interim basis if an event occurs or circumstances change that would reduce the fair value of a reporting unit below its carrying value. Our annual qualitative or quantitative assessments involve determining an estimate of the fair value of our reporting units in order to evaluate whether an impairment of the current carrying amount of goodwill and other indefinite-lived intangible assets exists. A qualitative assessment evaluates whether it is more likely than not that a reporting unit’s fair value is less than its carrying amount before applying the two-step quantitative goodwill impairment test. The first step of a quantitative goodwill impairment test, used to identify potential impairment, compares the fair value of a reporting unit with its carrying amount, including goodwill. If the fair value of a reporting unit exceeds its carrying amount, goodwill of the reporting unit is not considered impaired, and, thus, the second step of the quantitative impairment test is unnecessary. If the carrying amount of a reporting unit exceeds its fair value, the second step of the quantitative goodwill impairment test is performed to measure the amount of impairment loss, if any. Fair values are derived based on an evaluation of past and expected future performance of our reporting units. | |
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. While our annual impairment testing as of December 31, 2013, supported the carrying amount of goodwill, we may be required to reevaluate the carrying amount in future periods, thus utilizing different assumptions that reflect the then current market conditions and expectations, and, therefore, we could conclude that an impairment has occurred. | |
We review our long-lived assets, which include intangible assets subject to amortization, for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. An impairment loss is recognized when the undiscounted future cash flows estimated to be generated by the asset to be held and used are not sufficient to recover the unamortized balance of the asset. An impairment loss is recognized based on the difference between the carrying values and estimated fair value. The estimated fair value is determined based on either the discounted future cash flows or other appropriate fair value methods with the amount of any such deficiency charged to operations in the current year. Estimates of future cash flows are based on many factors, including current operating results, expected market trends and competitive influences. We also evaluate the amortization periods assigned to its intangible assets to determine whether events or changes in circumstances warrant revised estimates of useful lives. Assets to be disposed of by sale are reported at the lower of the carrying amount or fair value, less estimated costs to sell. | |
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. | |
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 had certain convertible debt outstanding that contained antidilution clauses. Under these clauses, we were required to lower the conversion price on the convertible debt based on certain issuances of our common stock, awards of options to employees, additional issuance of warrants and/or other convertible instruments below certain conversion prices. We accounted for the conversion liabilities associated with these antidilution clauses as liability instruments, separate from the host debt. The conversion liabilities were classified as debt on our consolidated balance sheets. These conversion liabilities were valued using the lattice model each reporting period and the resultant change in fair value was 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 and 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 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 associated with 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. | |
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 amounts reported for the prior year to achieve consistent presentation with the current year. | |
Recent Accounting Pronouncements | ' |
Recent Accounting Pronouncements | |
There are no recent accounting pronouncements that are applicable to us which could potentially have a material impact on our financial statements. |
LOSS_PER_SHARE_EPS_Tables
LOSS PER SHARE (EPS) (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
LOSS PER SHARE (EPS) [Abstract] | ' | ||||||||
Reconciliation of EPS computations | ' | ||||||||
Below are reconciliations of the numerators and denominators in the EPS computations. | |||||||||
2013 | 2012 | ||||||||
NUMERATOR (in thousands): | |||||||||
Basic and diluted - net loss attributable to RiceBran Technologies shareholders | $ | (15,021 | ) | $ | (9,509 | ) | |||
DENOMINATOR: | |||||||||
Basic EPS - weighted average number of shares outstanding | 1,160,196 | 1,023,412 | |||||||
Effect of dilutive securities outstanding | - | - | |||||||
Diluted EPS - weighted average number of shares outstanding | 1,160,196 | 1,023,412 | |||||||
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 $26.90 and $48.00 ) | 179,493 | 191,187 | |||||||
Warrants (average exercise price of $17.71 and $62.00) | 809,311 | 736,753 | |||||||
Convertible notes (average conversion price of $14.00 and $16.90) | 414,683 | 334,709 |
REDEEMABLE_NONCONTROLLING_INTE1
REDEEMABLE NONCONTROLLING INTEREST IN NUTRA SA (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
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). | |||||||||
December 31, | |||||||||
2013 | 2012 | ||||||||
Cash and cash equivalents | $ | 1,686 | $ | 562 | |||||
Other current assets (restricted $1,967 and $2,505) | 4,546 | 5,675 | |||||||
Property, net (restricted $4,969 and $5,757) | 17,672 | 19,690 | |||||||
Goodwill and intangibles, net | 4,812 | 6,215 | |||||||
Other noncurrent assets | 27 | 54 | |||||||
Total assets | $ | 28,743 | $ | 32,196 | |||||
Current liabilities | $ | 6,514 | $ | 5,141 | |||||
Current portion of long-term debt (nonrecourse) | 6,262 | 7,013 | |||||||
Long-term debt, less current portion (nonrecourse) | 6,658 | 7,454 | |||||||
Other noncurrent liabilities | - | 1,871 | |||||||
Total liabilities | $ | 19,434 | $ | 21,479 | |||||
Summary of changes in redeemable noncontrolling interest | ' | ||||||||
A summary of changes in redeemable noncontrolling interest in Nutra SA follows (in thousands): | |||||||||
2013 | 2012 | ||||||||
Redeemable noncontrolling interest in Nutra SA, beginning of period | $ | 9,262 | $ | 9,918 | |||||
Investors' interest in net loss of Nutra SA | (2,619 | ) | (1,627 | ) | |||||
Investors' interest in accumulated other comprehensive income of Nutra SA | (666 | ) | (529 | ) | |||||
Investors' purchase of additional units | 1,200 | 1,500 | |||||||
Redeemable noncontrolling interest in Nutra SA, end of period | $ | 7,177 | $ | 9,262 |
INVENTORIES_Tables
INVENTORIES (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
INVENTORIES [Abstract] | ' | ||||||||
Inventories | ' | ||||||||
Inventories are composed of the following (in thousands): | |||||||||
As of December 31, | |||||||||
2013 | 2012 | ||||||||
Finished goods | $ | 1,194 | $ | 1,146 | |||||
Work in process | 546 | 330 | |||||||
Raw materials | 441 | 255 | |||||||
Packaging supplies | 249 | 263 | |||||||
Total inventories | $ | 2,430 | $ | 1,994 |
PROPERTY_Tables
PROPERTY (Tables) | 12 Months Ended | |||||||||
Dec. 31, 2013 | ||||||||||
PROPERTY [Abstract] | ' | |||||||||
Property | ' | |||||||||
Property consists of the following (in thousands): | ||||||||||
As of December 31, | ||||||||||
2013 | 2012 | Estimated Useful Lives | ||||||||
Land | $ | 382 | $ | 403 | ||||||
Furniture and fixtures | 553 | 358 | 5-10 years | |||||||
Plant | 14,582 | 14,362 | 25-30 years, or life of lease | |||||||
Computer and software | 1,437 | 1,407 | 3-5 years | |||||||
Leasehold improvements | 200 | 189 | 3-7 years or life of lease | |||||||
Machinery and equipment | 14,557 | 15,053 | 5-10 years | |||||||
Construction in progress | 7,517 | 9,118 | ||||||||
Subtotal | 39,228 | 40,890 | ||||||||
Less accumulated depreciation | 14,270 | 12,433 | ||||||||
Property, net | $ | 24,958 | $ | 28,457 |
INTANGIBLE_ASSETS_AND_GOODWILL1
INTANGIBLE ASSETS AND GOODWILL (Tables) | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||
INTANGIBLE ASSETS AND GOODWILL [Abstract] | ' | ||||||||||||||||||||||||
Intangible assets | ' | ||||||||||||||||||||||||
All changes in goodwill between December 31, 2013 and December 31, 2012, relate to foreign currency translation. Intangible assets consist of the following (in thousands): | |||||||||||||||||||||||||
USA Segment | Brazil Segment | Total | |||||||||||||||||||||||
Patents | Trademarks | Customer | Trademarks | Customer | Intangible | ||||||||||||||||||||
Lists | Lists | Assets | |||||||||||||||||||||||
31-Dec-13 | |||||||||||||||||||||||||
Cost | $ | 1,697 | $ | 48 | $ | 2,677 | $ | 2,964 | $ | 1,084 | $ | 8,470 | |||||||||||||
Accumulated amortization | (1,170 | ) | (41 | ) | (2,466 | ) | (2,472 | ) | (904 | ) | (7,053 | ) | |||||||||||||
Net book value | $ | 527 | $ | 7 | $ | 211 | $ | 492 | $ | 180 | $ | 1,417 | |||||||||||||
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 | |||||||||||||
Estimated useful lives | 17 years | 7 years | 7 years | 7 years | 7 years |
DEBT_Tables
DEBT (Tables) | 12 Months Ended | |||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||
DEBT [Abstract] | ' | |||||||||||||||||
Current and long-term debt | ' | |||||||||||||||||
The following table summarizes current and long-term portions of debt (in thousands): | ||||||||||||||||||
2013 | 2012 | |||||||||||||||||
Corporate segment: | ||||||||||||||||||
Senior revolving note, net | $ | 1,988 | $ | - | ||||||||||||||
Senior convertible debentures, net | - | 1,048 | ||||||||||||||||
Subordinated convertible notes, net | - | 4,041 | ||||||||||||||||
Subordinated notes, net | 4,262 | - | ||||||||||||||||
Other | - | 28 | ||||||||||||||||
6,250 | 5,117 | |||||||||||||||||
Brazil segment: | ||||||||||||||||||
Capital expansion loans | 4,795 | 5,555 | ||||||||||||||||
Equipment financing | 174 | 201 | ||||||||||||||||
Working capital lines of credit | 3,213 | 2,227 | ||||||||||||||||
Advances on export letters of credit | 2,386 | 3,953 | ||||||||||||||||
Special tax programs | 2,351 | 2,531 | ||||||||||||||||
12,919 | 14,467 | |||||||||||||||||
Total debt | 19,169 | 19,584 | ||||||||||||||||
Current portion | 8,250 | 8,003 | ||||||||||||||||
Long-term portion | $ | 10,919 | $ | 11,581 | ||||||||||||||
Required future minimum payments on debt | ' | |||||||||||||||||
Required future minimum payments on our debt as of December 31, 2013, follow (in thousands). | ||||||||||||||||||
Corporate | Brazil | Total | ||||||||||||||||
Segment | Segment | |||||||||||||||||
2014 | $ | 1,988 | $ | 6,262 | $ | 8,250 | ||||||||||||
2015 | - | 1,767 | 1,767 | |||||||||||||||
2016 | 6,535 | 1,032 | 7,567 | |||||||||||||||
2017 | - | 1,005 | 1,005 | |||||||||||||||
2018 | - | 955 | 955 | |||||||||||||||
Thereafter | - | 1,898 | 1,898 | |||||||||||||||
8,523 | 12,919 | 21,442 | ||||||||||||||||
Discount | (2,273 | ) | - | (2,273 | ) | |||||||||||||
Total debt | $ | 6,250 | $ | 12,919 | $ | 19,169 | ||||||||||||
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. | ||||||||||||||||||
Issuance | Principal | Creditor's | Stated | Maturity | Number of | Exercise | Expiration | |||||||||||
Amount of | Debt | Annual | Date of Debt | Shares | Price of | Date of | ||||||||||||
Notes (in | Conversion | Interest | Under | Warrant | Warrant | |||||||||||||
thousands) | Right | Rate on | Warrant | |||||||||||||||
Debt | ||||||||||||||||||
Subordinated Convertible Notes and Warrants | $ | 538 | Convertible immediately at $14.00 per share | 10 | % | July 2015 or July 2016 | 38,400 | Exercisable immediately at $16.00 per share | July 2017 or May 2018 |
EQUITY_AND_SHAREBASED_COMPENSA1
EQUITY AND SHARE-BASED COMPENSATION (Tables) | 12 Months Ended | |||||||||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||||||||
EQUITY AND SHARE-BASED COMPENSATION [Abstract] | ' | |||||||||||||||||||||||||||
Summary of stock option and warrant activity | ' | |||||||||||||||||||||||||||
A summary of stock option and warrant activity for 2013 and 2012 follows. | ||||||||||||||||||||||||||||
Options | Equity and Liability Warrants | |||||||||||||||||||||||||||
Shares | Weighted | Weighted | Shares | Weighted | Weighted | |||||||||||||||||||||||
Under | Average | Average | Under | Average | Average | |||||||||||||||||||||||
Options | Exercise | Remaining | Warrants | Exercise | Remaining | |||||||||||||||||||||||
Price | Contractual | Price | Contractual | |||||||||||||||||||||||||
Life (Years) | Life (Years) | |||||||||||||||||||||||||||
Outstanding, January 1, 2012 | 192,944 | $ | 54 | 6.3 | 233,947 | $ | 208 | 1.7 | ||||||||||||||||||||
Granted | 29,060 | 30 | 423,782 | 20 | ||||||||||||||||||||||||
Impact of anti-dilution clauses | - | NA | 518,720 | NA | ||||||||||||||||||||||||
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 | ||||||||||||||||||||||
Granted or issued | 40,000 | 15.38 | 1,859,111 | 6.85 | ||||||||||||||||||||||||
Impact of anti-dilution clauses | - | NA | 385,292 | NA | ||||||||||||||||||||||||
Impact of amendment | - | NA | (496,061 | ) | NA | |||||||||||||||||||||||
Exercised | - | NA | - | - | ||||||||||||||||||||||||
Forfeited, expired or cancelled | (29,817 | ) | 50.58 | (148,829 | ) | 66.92 | ||||||||||||||||||||||
Outstanding, December 31, 2013 | 179,437 | $ | 24.28 | 6.2 | 2,406,282 | $ | 6.33 | 4.5 | ||||||||||||||||||||
Exercisable, December 31, 2013 | 157,012 | $ | 25.23 | 5.9 | 2,320,567 | $ | 6.32 | 4.4 | ||||||||||||||||||||
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): | ||||||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||||||
Consultants | $ | 16 | $ | 42 | ||||||||||||||||||||||||
Directors | 262 | 285 | ||||||||||||||||||||||||||
Employees | 127 | 152 | ||||||||||||||||||||||||||
Executive officers | 133 | 444 | ||||||||||||||||||||||||||
Total share-based compensation expense, options | $ | 538 | $ | 923 | ||||||||||||||||||||||||
Summary of option activity | ' | |||||||||||||||||||||||||||
The following table summarizes option activity during 2013 and 2012: | ||||||||||||||||||||||||||||
Employees and Directors | Consultants | |||||||||||||||||||||||||||
Weighted | Weighted | Total | ||||||||||||||||||||||||||
Shares | Average | Shares | Average | Shares | ||||||||||||||||||||||||
Underlying | Exercise | Underlying | Exercise | Underlying | ||||||||||||||||||||||||
Options | Price | Options | Price | Options | ||||||||||||||||||||||||
Outstanding, January 1, 2012 | 180,494 | $ | 48 | 12,450 | $ | 152 | 192,944 | |||||||||||||||||||||
Granted | 28,060 | 26 | 1,000 | 16 | 29,060 | |||||||||||||||||||||||
Forfeited, expired or cancelled | (50,250 | ) | 58 | (2,500 | ) | 266 | (52,750 | ) | ||||||||||||||||||||
Exercised | - | NA | - | NA | - | |||||||||||||||||||||||
Outstanding, December 31, 2012 | 158,304 | 26 | 10,950 | 106 | 169,254 | |||||||||||||||||||||||
Granted | 38,750 | 15.36 | 1,250 | 16 | 40,000 | |||||||||||||||||||||||
Forfeited, expired or cancelled | (27,317 | ) | 27.75 | (2,500 | ) | 300 | (29,817 | ) | ||||||||||||||||||||
Exercised | - | NA | - | NA | - | |||||||||||||||||||||||
Outstanding, December 31, 2013 | 169,737 | $ | 23.13 | 9,700 | $ | 44.45 | 179,437 | |||||||||||||||||||||
Exercisable, December 31, 2013 | 148,698 | $ | 24.31 | 8,314 | $ | 41.72 | 157,012 | |||||||||||||||||||||
Weighted-average assumptions used in valuing stock options | ' | |||||||||||||||||||||||||||
As of December 31, 2013, our outstanding options have no intrinsic value. The average fair value of options granted was $11.18 per share in 2013 and $20.00 per share in 2012. The following are the assumptions used in valuing stock options: | ||||||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||||||
Assumed volatility | 119.2%-122.3% | 104.4%-113.3% | ||||||||||||||||||||||||||
(121.1% weighted average) | (109.2% weighted average) | |||||||||||||||||||||||||||
Assumed risk free interest rate | 0.7%-1.4% | 0.2%-1.0% | ||||||||||||||||||||||||||
(0.9% weighted average) | (0.9% weighted average) | |||||||||||||||||||||||||||
Average expected life of options (in years) | 6.2 | 6.1 | ||||||||||||||||||||||||||
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, 2013 | ||||||||||||||||||||||||||||
Outstanding | Exercisable | |||||||||||||||||||||||||||
Range of Exercise | Shares | Weighted | Weighted | Shares | Weighted | Weighted | ||||||||||||||||||||||
Prices | Underlying | Average | Average | Underlying | Average | Average | ||||||||||||||||||||||
Options | Remaining | Exercise | Options | Remaining | Exercise | |||||||||||||||||||||||
Contractual | Price | Contractual | Price | |||||||||||||||||||||||||
Life (Years) | Life (Years) | |||||||||||||||||||||||||||
$ | 6.00 to $16.00 | 135,989 | 7 | $ | 15.82 | 114,636 | 6.8 | $ | 16 | |||||||||||||||||||
28 | 1,457 | 7.2 | 28 | 1,457 | 8.2 | 28 | ||||||||||||||||||||||
40 | 23,991 | 4.8 | 40 | 23,991 | 4.8 | 40 | ||||||||||||||||||||||
60 | 15,000 | 1 | 60 | 15,000 | 1 | 60 | ||||||||||||||||||||||
74 | 2,500 | 7.2 | 74 | 1,428 | 7.2 | 74 | ||||||||||||||||||||||
242 | 500 | 2 | 242 | 500 | 2 | 242 | ||||||||||||||||||||||
16.00 to $242.00 | 179,437 | 6.2 | $ | 24.28 | 157,012 | 5.9 | $ | 25.23 | ||||||||||||||||||||
Summary of warrant activity | ' | |||||||||||||||||||||||||||
Certain equity issuance in 2013 and 2012 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. | ||||||||||||||||||||||||||||
Equity Warrants | Liability Warrants | |||||||||||||||||||||||||||
Shares | Weighted | Weighted | Shares | Weighted | Weighted | |||||||||||||||||||||||
Underlying | Average | Average | Underlying | Average | Average | |||||||||||||||||||||||
Remaining | Exercise | Remaining | Exercise | |||||||||||||||||||||||||
Contractual | Price | Contractual | Price | |||||||||||||||||||||||||
Life | Life | |||||||||||||||||||||||||||
(Years) | (Years) | |||||||||||||||||||||||||||
Balance, January 1, 2011 | 17,372 | 3.5 | $ | 60 | 216,575 | 1.5 | $ | 220 | ||||||||||||||||||||
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 | 2.4 | 90 | 801,013 | 3.5 | 24 | ||||||||||||||||||||||
Granted | 1,820,711 | 6.66 | 38,400 | 16 | ||||||||||||||||||||||||
Impact of antidilution clauses | - | - | 385,292 | NA | ||||||||||||||||||||||||
Impact of amendment | (8,711 | ) | - | (487,350 | ) | NA | ||||||||||||||||||||||
Exercised | - | - | - | NA | ||||||||||||||||||||||||
Forfeited, expired or cancelled | (2,722 | ) | 137.6 | (146,107 | ) | 65.6 | ||||||||||||||||||||||
Outstanding, December 31, 2013 | 1,815,034 | 5 | $ | 6.69 | 591,248 | 2.9 | $ | 5.24 | ||||||||||||||||||||
Exercisable, December 31, 2013 | 1,729,319 | 5 | $ | 6.69 | 591,248 | 2.9 | $ | 5.24 | ||||||||||||||||||||
Summary of information related to outstanding and exercisable warrants | ' | |||||||||||||||||||||||||||
The following table summarizes information related to outstanding and exercisable warrants: | ||||||||||||||||||||||||||||
Outstanding | Exercisable | |||||||||||||||||||||||||||
Range of | Type of | Shares | Weighted | Weighted | Shares | Weighted | Weighted | |||||||||||||||||||||
Exercise Prices | Warrant | Under | Average | Average | Under | Average | Average | |||||||||||||||||||||
Warrants | Remaining | Exercise | Warrants | Remaining | Exercise | |||||||||||||||||||||||
Contractual | Price | Contractual | Price | |||||||||||||||||||||||||
Life (Years) | Life (Years) | |||||||||||||||||||||||||||
$ | 5.24 | Liability | 591,248 | 2.9 | $ | 5.24 | 591,248 | 2.9 | $ | 5.24 | ||||||||||||||||||
6.55 | Equity | 1,800,001 | 5 | 6.55 | 1,714,286 | 5 | 6.55 | |||||||||||||||||||||
16.00 to $16.80 | Equity | 12,004 | 4.5 | 16.4 | 12,004 | 4.5 | 16.4 | |||||||||||||||||||||
46.8 | Equity | 3,029 | 2.9 | 46.8 | 3,029 | 2.9 | 46.8 | |||||||||||||||||||||
2,406,282 | 4.5 | $ | 6.33 | 2,320,567 | 4.4 | $ | 6.32 |
INCOME_TAXES_Tables
INCOME TAXES (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
INCOME TAXES [Abstract] | ' | ||||||||
Deferred Tax Assets and Liabilities | ' | ||||||||
Deferred tax assets (liabilities) are comprised of the following (in thousands): | |||||||||
As of December 31, | |||||||||
2013 | 2012 | ||||||||
United States | |||||||||
Net operating loss carryforwards | $ | 43,328 | $ | 41,374 | |||||
Gain on sale of membership interests in Nutra SA | 403 | 374 | |||||||
Stock options and warrants | 1,199 | 1,144 | |||||||
Intangible assets | 1,194 | 960 | |||||||
Property | 6,832 | 5,651 | |||||||
Capitalized expenses | 652 | 715 | |||||||
Convertible debt | (112 | ) | (399 | ) | |||||
Other | 451 | 86 | |||||||
Deferred tax assets | 53,947 | 49,905 | |||||||
Less: Valuation allowance | (53,947 | ) | (49,905 | ) | |||||
- | - | ||||||||
Brazil | |||||||||
Intangible assets | (228 | ) | (490 | ) | |||||
Property | (1,555 | ) | (2,165 | ) | |||||
Net operating loss carryforwards | 2,381 | 960 | |||||||
Other | 285 | 255 | |||||||
Net deferred tax asset (liability) | 883 | (1,440 | ) | ||||||
Less-valuation allowance | (883 | ) | - | ||||||
$ | - | $ | (1,440 | ) | |||||
Deferred tax asset - current | $ | - | $ | 234 | |||||
Deferred tax liability - long-term | - | (1,674 | ) | ||||||
$ | - | $ | (1,440 | ) | |||||
Income (Loss) from Continuing Operations before Income Taxes | ' | ||||||||
Loss before income taxes is comprised of the following (in thousands): | |||||||||
2013 | 2012 | ||||||||
Foreign | $ | (6,832 | ) | $ | (5,051 | ) | |||
Domestic | (12,247 | ) | (8,020 | ) | |||||
Loss before income taxes | $ | (19,079 | ) | $ | (13,071 | ) | |||
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): | |||||||||
2013 | 2012 | ||||||||
Income tax benefit at federal statutory rate | $ | (6,487 | ) | $ | (4,444 | ) | |||
Increase (decrease) resulting from: | |||||||||
State tax benefit, net of federal tax effect | (653 | ) | (251 | ) | |||||
Change in valuation allowance | 4,927 | (1,926 | ) | ||||||
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 | 255 | 602 | |||||||
Expiration of U.S. net operating losses | 415 | 1,460 | |||||||
Nontaxable fair value adjustment | 350 | (1,843 | ) | ||||||
Nondeductible convertible debt issuance expenses | 521 | 2,285 | |||||||
Impact of state rate changes | (677 | ) | - | ||||||
Nondeductible expenses | 6 | 10 | |||||||
Foreign taxes | - | 6 | |||||||
Adjustments to Brazil deferred balances | - | (222 | ) | ||||||
Adjustments to U.S. deferred balances | (96 | ) | 343 | ||||||
Income tax benefit | $ | (1,439 | ) | $ | (1,935 | ) |
RELATED_PARTY_TRANSACTIONS_Tab
RELATED PARTY TRANSACTIONS (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
RELATED PARTY TRANSACTIONS [Abstract] | ' | ||||||||
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 | Number of | Exercise Price of Warrant | Expiration Date | ||||||
Warrants | Shares Under | of Warrant | |||||||
Warrants | |||||||||
-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 | ||||||
Other transactions and balances with HC and Halpern Entities | ' | ||||||||
Other transactions with Mr. Halpern, HC and Halpern Entities are summarized below (in thousands): | |||||||||
2013 | 2012 | ||||||||
Success fees earned by HC under financial advisor agreement payable in cash | $ | - | $ | 164 | |||||
Interest earned on convertible debt | 306 | 243 | |||||||
Interest paid on convertible debt | 288 | 242 | |||||||
Payments to HC relevant to HC's class 6 general unsecured creditor claim | - | 256 |
SEGMENT_INFORMATION_Tables
SEGMENT INFORMATION (Tables) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
SEGMENT INFORMATION [Abstract] | ' | ||||||||||||||||
Segment information identified and reconciliations of segment information to total consolidated information | ' | ||||||||||||||||
The table below presents segment information for the years identified and provides a reconciliation of segment information to total consolidated information (in thousands). | |||||||||||||||||
2013 | |||||||||||||||||
Corporate | USA | Brazil | Consolidated | ||||||||||||||
Revenues | $ | - | $ | 12,023 | $ | 23,028 | $ | 35,051 | |||||||||
Cost of goods sold | - | 9,078 | 22,028 | 31,106 | |||||||||||||
Gross profit | - | 2,945 | 1,000 | 3,945 | |||||||||||||
Depreciation and amortization (in selling, general and administrative) | (24 | ) | (469 | ) | (756 | ) | (1,249 | ) | |||||||||
Impairment of property | - | (300 | ) | - | (300 | ) | |||||||||||
Other operating expenses | (5,918 | ) | (2,006 | ) | (4,442 | ) | (12,366 | ) | |||||||||
Income (loss) from operations | $ | (5,942 | ) | $ | 170 | $ | (4,198 | ) | $ | (9,970 | ) | ||||||
Net income (loss) attributable to RiceBran Technologies shareholders | $ | (12,418 | ) | $ | 170 | $ | (2,773 | ) | $ | (15,021 | ) | ||||||
Interest expense | (1,950 | ) | - | (1,984 | ) | (3,934 | ) | ||||||||||
Depreciation (in cost of goods sold) | - | (926 | ) | (1,873 | ) | (2,799 | ) | ||||||||||
Purchases of property | 21 | 191 | 2,907 | 3,119 | |||||||||||||
Property, net, end of period | 55 | 7,231 | 17,672 | 24,958 | |||||||||||||
Goodwill, end of period | - | - | 4,139 | 4,139 | |||||||||||||
Intangible assets, net, end of period | - | 745 | 672 | 1,417 | |||||||||||||
Total assets, end of period | 6,039 | 9,796 | 28,743 | 44,578 | |||||||||||||
2012 | |||||||||||||||||
Corporate | USA | Brazil | Consolidated | ||||||||||||||
Revenues | $ | - | $ | 12,633 | $ | 25,090 | $ | 37,723 | |||||||||
Cost of goods sold | - | 8,946 | 22,705 | 31,651 | |||||||||||||
Gross profit | - | 3,687 | 2,385 | 6,072 | |||||||||||||
Intersegment fees | 347 | - | (347 | ) | - | ||||||||||||
Depreciation and amortization (in selling, general and administrative) | (197 | ) | (1,006 | ) | (859 | ) | (2,062 | ) | |||||||||
Impairment of property | - | (1,069 | ) | - | (1,069 | ) | |||||||||||
Other operating expenses | (4,768 | ) | (2,364 | ) | (4,496 | ) | (11,628 | ) | |||||||||
Loss from operations | $ | (4,618 | ) | $ | (752 | ) | $ | (3,317 | ) | $ | (8,687 | ) | |||||
Net loss attributable to RiceBran Technologies shareholders | $ | (7,046 | ) | $ | (770 | ) | $ | (1,693 | ) | $ | (9,509 | ) | |||||
Interest expense | (743 | ) | (17 | ) | (1,166 | ) | (1,926 | ) | |||||||||
Depreciation (in cost of goods sold) | - | (899 | ) | (1,651 | ) | (2,550 | ) | ||||||||||
Purchases of property | 1 | 150 | 6,331 | 6,482 | |||||||||||||
Property, net, end of period | 36 | 8,731 | 19,690 | 28,457 | |||||||||||||
Goodwill, end of period | - | - | 4,773 | 4,773 | |||||||||||||
Intangible assets, net, end of period | - | 1,133 | 1,442 | 2,575 | |||||||||||||
Total assets, end of period | 3,201 | 11,609 | 32,196 | 47,006 | |||||||||||||
Revenues by geographic area | ' | ||||||||||||||||
The following table presents revenues data by geographic area (in thousands): | |||||||||||||||||
2013 | 2012 | ||||||||||||||||
United States | $ | 12,869 | $ | 16,177 | |||||||||||||
Brazil | 17,861 | 18,266 | |||||||||||||||
Other international | 4,321 | 3,280 | |||||||||||||||
Total revenues | $ | 35,051 | $ | 37,723 |
FAIR_VALUE_MEASUREMENT_Tables
FAIR VALUE MEASUREMENT (Tables) | 12 Months Ended | |||||||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||||||
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): | ||||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | |||||||||||||||||||||||
31-Dec-13 | ||||||||||||||||||||||||||
Derivative warrant liabilities | -1 | $ | - | $ | - | $ | (1,685 | ) | $ | (1,685 | ) | |||||||||||||||
Total liabilities at fair value | $ | - | $ | - | $ | (1,685 | ) | $ | (1,685 | ) | ||||||||||||||||
31-Dec-12 | ||||||||||||||||||||||||||
Derivative warrant liabilities | -1 | $ | - | $ | - | $ | (4,520 | ) | $ | (4,520 | ) | |||||||||||||||
Derivative conversion liabilities | -2 | - | - | (2,199 | ) | (2,199 | ) | |||||||||||||||||||
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. | |||||||||||||||||||||||||
31-Dec-13 | 31-Dec-12 | |||||||||||||||||||||||||
Risk-free interest rate | 0.1% - 0.6% | 0.1% - 0.7% | ||||||||||||||||||||||||
(0.5% weighted average) | (0.6% weighted average) | |||||||||||||||||||||||||
Expected volatility | 107% | 93% | ||||||||||||||||||||||||
-2 | These conversion liabilities were 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 | ||||||||||||||||||||||||||
Risk-free interest rate | 0.2%-0.3% | |||||||||||||||||||||||||
(0.3% weighted average) | ||||||||||||||||||||||||||
Expected volatility | 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. | |||||||||||||||||||||||||
31-Dec-13 | 31-Dec-12 | |||||||||||||||||||||||||
Risk-free interest rate | 0.1% - 0.6% | 0.1% - 0.7% | ||||||||||||||||||||||||
(0.5% weighted average) | (0.6% weighted average) | |||||||||||||||||||||||||
Expected volatility | 107% | 93% | ||||||||||||||||||||||||
-2 | These conversion liabilities were 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 | ||||||||||||||||||||||||||
Risk-free interest rate | 0.2%-0.3% | |||||||||||||||||||||||||
(0.3% weighted average) | ||||||||||||||||||||||||||
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): | ||||||||||||||||||||||||||
Fair Value | Total | Issuance of | Net | Fair Value, | Change in | |||||||||||||||||||||
as of | Realized | New | Transfers | at End of | Unrealized | |||||||||||||||||||||
Beginning of | and | Instruments | (Into) Out of | Period | Gains | |||||||||||||||||||||
Period | Unrealized | Level 3 | (Losses) on | |||||||||||||||||||||||
Gains | Instruments | |||||||||||||||||||||||||
(Losses) | Still Held | |||||||||||||||||||||||||
2013 | (1 | ) | ||||||||||||||||||||||||
Derivative warrant liability | $ | (4,520 | ) | $ | (950 | ) | $ | (575 | ) | $ | 4,360 | -2 | $ | (1,685 | ) | $ | (372 | ) | ||||||||
Derivative conversion liability | (2,199 | ) | (80 | ) | (598 | ) | 2,877 | -3 | - | NA | ||||||||||||||||
Total Level 3 fair value | $ | (6,719 | ) | $ | (1,030 | ) | $ | (1,173 | ) | $ | 7,237 | $ | (1,685 | ) | $ | (372 | ) | |||||||||
2012 | ||||||||||||||||||||||||||
Derivative warrant liability | $ | (1,296 | ) | $ | 3,048 | $ | (6,983 | ) | $ | 711 | -4 | $ | (4,520 | ) | $ | 3,320 | ||||||||||
Derivative conversion liability | - | 2,372 | (4,466 | ) | (105 | ) (5) | (2,199 | ) | 2,372 | |||||||||||||||||
Total Level 3 fair value | $ | (1,296 | ) | $ | 5,420 | $ | (11,449 | ) | $ | 606 | $ | (6,719 | ) | $ | 5,692 | |||||||||||
-1 | Included in change in fair value of derivative warrant and conversion liabilities in our consolidated statements of operations. | |||||||||||||||||||||||||
-2 | Represents fair value of warrants cancelled in connection with the Exchange. | |||||||||||||||||||||||||
-3 | Represents $2.8 million fair value of conversion liabilities when eliminated in connection with the Modification and $0.1 million as a result of conversions of debt. | |||||||||||||||||||||||||
-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 a replacement senior convertible debenture. | |||||||||||||||||||||||||
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): | ||||||||||||||||||||||||||
As of December 31, 2013 | 2013 | |||||||||||||||||||||||||
Impairment | ||||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | Losses | ||||||||||||||||||||||
-1 | ||||||||||||||||||||||||||
Property, net | -1 | $ | - | $ | - | $ | 394 | $ | 394 | $ | 300 | |||||||||||||||
Property, net | $ | - | $ | - | $ | 394 | $ | 394 | $ | 300 | ||||||||||||||||
As of December 31, 2012 | 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. |
LIQUIDITY_MANAGEMENT_PLANS_AND1
LIQUIDITY, MANAGEMENT PLANS AND GENERAL BUSINESS (Details) (USD $) | 3 Months Ended | 12 Months Ended |
In Millions, unless otherwise specified | Mar. 31, 2014 | Dec. 31, 2013 |
Segment | ||
Location | ||
LIQUIDITY, MANAGEMENT PLANS AND GENERAL BUSINESS [Abstract] | ' | ' |
Proceeds from issuance of stock | $12 | ' |
Number of reportable segments | ' | 2 |
Number of locations in California | ' | 2 |
Number of locations in Louisiana | ' | 1 |
Number of locations in Lake Charles, Louisiana | ' | 1 |
Revenue from Human Food Products [Member] | USA Segment Revenues [Member] | ' | ' |
Concentration Risk [Line Items] | ' | ' |
Concentration risk, percentage (in hundredths) | ' | 55.00% |
Revenue from Animal Nutrition Products [Member] | USA Segment Revenues [Member] | ' | ' |
Concentration Risk [Line Items] | ' | ' |
Concentration risk, percentage (in hundredths) | ' | 45.00% |
DRB Products [Member] | Brazil Segment Revenue [Member] | ' | ' |
Concentration Risk [Line Items] | ' | ' |
Concentration risk, percentage (in hundredths) | ' | 55.00% |
RBO Products [Member] | Brazil Segment Revenue [Member] | ' | ' |
Concentration Risk [Line Items] | ' | ' |
Concentration risk, percentage (in hundredths) | ' | 45.00% |
LOSS_PER_SHARE_EPS_Details
LOSS PER SHARE (EPS) (Details) (USD $) | 12 Months Ended | |
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
NUMERATOR [Abstract] | ' | ' |
Basic and diluted - net loss attributable to RiceBran Technologies shareholders | ($15,021) | ($9,509) |
DENOMINATOR [Abstract] | ' | ' |
Basic EPS - weighted average number of shares outstanding (in shares) | 1,160,196 | 1,023,412 |
Effect of dilutive securities outstanding (in shares) | 0 | 0 |
Diluted EPS - weighted average number of shares outstanding (in shares) | 1,160,196 | 1,023,412 |
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) | 179,493 | 191,187 |
Average exercise price of options (in dollars per share) | $26.90 | $48 |
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) | 809,311 | 736,753 |
Average exercise price of warrants (in dollars per share) | $17.71 | $62 |
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) | 414,683 | 334,709 |
Average conversion price of convertible notes (in dollars per share) | $14 | $16.90 |
REDEEMABLE_NONCONTROLLING_INTE2
REDEEMABLE NONCONTROLLING INTEREST IN NUTRA SA (Details) (USD $) | 12 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 12 Months Ended | |||||||||||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Sep. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Mar. 25, 2014 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Mar. 25, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Irgovel [Member] | Nutra SA [Member] | Nutra SA [Member] | Nutra SA [Member] | Nutra SA [Member] | Nutra SA [Member] | NutraCea [Member] | NutraCea [Member] | Investors [Member] | Investors [Member] | Investors [Member] | Investors [Member] | Investors [Member] | ||||
Subsequent Event [Member] | Equipment [Member] | Representative | Representative | Nutra SA [Member] | Nutra SA [Member] | Nutra SA [Member] | Nutra SA [Member] | |||||||||
Subsequent Event [Member] | Average [Member] | Average [Member] | ||||||||||||||
Summary of carrying amounts included in consolidated balance sheets [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash and cash equivalents | $5,091,000 | $1,040,000 | $3,329,000 | ' | ' | $1,686,000 | $562,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Other current assets (restricted $1,907 and $2,505) | 833,000 | 975,000 | ' | ' | ' | 4,546,000 | 5,675,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Property, net (restricted $4,969 and $5,757) | 24,958,000 | 28,457,000 | ' | ' | ' | 17,672,000 | 19,690,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Goodwill and intangibles, net | ' | ' | ' | ' | ' | 4,812,000 | 6,215,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Other noncurrent assets | 532,000 | 385,000 | ' | ' | ' | 27,000 | 54,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total assets | 44,578,000 | 47,006,000 | ' | ' | ' | 28,743,000 | 32,196,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Current liabilities | 18,961,000 | 15,533,000 | ' | ' | ' | 6,514,000 | 5,141,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Current portion of long-term debt (nonrecourse) | 8,250,000 | 8,003,000 | ' | ' | ' | 6,262,000 | 7,013,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long-term debt, less current portion (nonrecourse) | 10,919,000 | 11,581,000 | ' | ' | ' | 6,658,000 | 7,454,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Other noncurrent liabilities | ' | ' | ' | ' | ' | 0 | 1,871,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total liabilities | 31,565,000 | 33,308,000 | ' | ' | ' | 19,434,000 | 21,479,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Restricted portion of other current assets | ' | ' | ' | ' | ' | 1,907,000 | 2,505,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Variable interest entity restricted portion of property, net | ' | ' | ' | ' | ' | 4,969,000 | 5,757,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Summary of changes for redeemable noncontrolling interest [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Redeemable noncontrolling interest in Nutra SA, beginning of period | 9,262,000 | ' | ' | ' | ' | ' | ' | ' | ' | 9,262,000 | 9,918,000 | ' | ' | ' | ' | ' |
Investors' interest in net loss of Nutra SA | ' | ' | ' | ' | ' | ' | ' | ' | ' | -2,619,000 | -1,627,000 | ' | ' | ' | ' | ' |
Investors' interest in accumulated other comprehensive income of Nutra SA | ' | ' | ' | ' | ' | ' | ' | ' | ' | -666,000 | -529,000 | ' | ' | ' | ' | ' |
Investors' purchase of additional units | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,200,000 | 1,500,000 | ' | ' | ' | ' | ' |
Redeemable noncontrolling interest in Nutra SA, end of period | 7,177,000 | ' | ' | ' | ' | ' | ' | ' | ' | 7,177,000 | 9,262,000 | ' | ' | ' | ' | ' |
Ownership percentage of noncontrolling owner (in hundredths) | ' | ' | ' | ' | ' | ' | ' | 56.70% | ' | ' | ' | ' | 45.90% | 43.30% | 49.00% | 49.00% |
Cash transferred to Nutra SA | ' | ' | ' | ' | 100,000 | 3,300,000 | ' | ' | 800,000 | ' | ' | ' | ' | ' | ' | ' |
Historical cost of equipment returned | ' | ' | ' | ' | ' | 200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Yield earned beginning in January, 2014 (in hundredths) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4.00% | ' | ' | ' |
Distributable cash terms | '(i) first, to the Investors in an amount equal to a multiplier (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. | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of representatives in management committee | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3 | ' | 2 | ' | ' | ' | ' |
Number of representatives in management committee upon default | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2 | ' | 3 | ' | ' | ' | ' |
Terms of default | 'A Nutra SA business plan deviation, defined as the occurrence in 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, 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 Failure of Irgovel to achieve EBITDA of at least $4.0 million in any year after 2014. | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Threshold percentage of unfavorable variance for default calculation (in hundredths) | ' | ' | ' | ' | ' | 20.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Threshold percentage of planned EBITDA for default calculation (in hundredths) | ' | ' | ' | ' | ' | 85.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Threshold percentage of damages not covered by insurance proceeds for a material problem, minimum (in hundredths) | ' | ' | ' | ' | ' | 80.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Minimum EBITDA triggering default status | ' | ' | ' | 4,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
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 or more of our ownership interest in Nutra SA to a third party or (iii) the bankruptcy of RiceBran Technologies or Nutra SA. | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Drag Along Right termination amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $50,000,000 | ' | ' | ' |
INVENTORIES_Details
INVENTORIES (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
INVENTORIES [Abstract] | ' | ' |
Finished goods | $1,194 | $1,146 |
Work in process | 546 | 330 |
Raw materials | 441 | 255 |
Packaging supplies | 249 | 263 |
Total inventories | $2,430 | $1,994 |
CONCENTRATION_OF_CREDIT_RISK_D
CONCENTRATION OF CREDIT RISK (Details) (Customer Concentration Risk [Member]) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
One Customer [Member] | Revenue [Member] | ' | ' |
Concentration Risk [Line Items] | ' | ' |
Concentration risk, percentage (in hundredths) | 9.00% | 10.00% |
One Customer [Member] | Accounts Receivable [Member] | ' | ' |
Concentration Risk [Line Items] | ' | ' |
Concentration risk, percentage (in hundredths) | 10.00% | 9.00% |
Second customer [Member] | Revenue [Member] | ' | ' |
Concentration Risk [Line Items] | ' | ' |
Concentration risk, percentage (in hundredths) | 5.00% | 11.00% |
Second customer [Member] | Accounts Receivable [Member] | ' | ' |
Concentration Risk [Line Items] | ' | ' |
Concentration risk, percentage (in hundredths) | 16.00% | 30.00% |
Third customer [Member] | Revenue [Member] | ' | ' |
Concentration Risk [Line Items] | ' | ' |
Concentration risk, percentage (in hundredths) | 9.00% | 5.00% |
Third customer [Member] | Accounts Receivable [Member] | ' | ' |
Concentration Risk [Line Items] | ' | ' |
Concentration risk, percentage (in hundredths) | 4.00% | 3.00% |
Fourth customer [Member] | Revenue [Member] | ' | ' |
Concentration Risk [Line Items] | ' | ' |
Concentration risk, percentage (in hundredths) | 6.00% | 7.00% |
Fourth customer [Member] | Accounts Receivable [Member] | ' | ' |
Concentration Risk [Line Items] | ' | ' |
Concentration risk, percentage (in hundredths) | 0.00% | 9.00% |
PROPERTY_Details
PROPERTY (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2009 | |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Property, plant and equipment, gross | $39,228,000 | $40,890,000 | ' |
Less accumulated depreciation | 14,270,000 | 12,433,000 | ' |
Property, net | 24,958,000 | 28,457,000 | ' |
Impairment of property, plant and equipment | 300,000 | 1,069,000 | ' |
Lake Charles Facility [Member] | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Property, plant and equipment, gross | 3,800,000 | ' | ' |
Impairment of property, plant and equipment | 300,000 | 1,100,000 | 2,300,000 |
Land [Member] | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Property, plant and equipment, gross | 382,000 | 403,000 | ' |
Furniture and Fixtures [Member] | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Property, plant and equipment, gross | 553,000 | 358,000 | ' |
Furniture and Fixtures [Member] | Minimum [Member] | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Estimated useful lives | '5 years | ' | ' |
Furniture and Fixtures [Member] | Maximum [Member] | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Estimated useful lives | '10 years | ' | ' |
Plant [Member] | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Property, plant and equipment, gross | 14,582,000 | 14,362,000 | ' |
Plant [Member] | Minimum [Member] | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Estimated useful lives | '25 years | ' | ' |
Plant [Member] | Maximum [Member] | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Estimated useful lives | '30 years | ' | ' |
Computer and Software [Member] | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Property, plant and equipment, gross | 1,437,000 | 1,407,000 | ' |
Computer and Software [Member] | Minimum [Member] | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Estimated useful lives | '3 years | ' | ' |
Computer and Software [Member] | Maximum [Member] | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Estimated useful lives | '5 years | ' | ' |
Leasehold Improvements [Member] | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Property, plant and equipment, gross | 200,000 | 189,000 | ' |
Leasehold Improvements [Member] | Minimum [Member] | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Estimated useful lives | '3 years | ' | ' |
Leasehold Improvements [Member] | Maximum [Member] | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Estimated useful lives | '7 years | ' | ' |
Machinery and Equipment [Member] | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Property, plant and equipment, gross | 14,557,000 | 15,053,000 | ' |
Machinery and Equipment [Member] | Lake Charles Facility [Member] | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Property, net | 400,000 | ' | ' |
Machinery and Equipment [Member] | Minimum [Member] | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Estimated useful lives | '5 years | ' | ' |
Machinery and Equipment [Member] | Maximum [Member] | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Estimated useful lives | '10 years | ' | ' |
Construction in Progress [Member] | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Property, plant and equipment, gross | 7,517,000 | 9,118,000 | ' |
Idled Facility [Member] | Lake Charles Facility [Member] | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Net book value of idled facility | $1,000,000 | ' | ' |
INTANGIBLE_ASSETS_AND_GOODWILL2
INTANGIBLE ASSETS AND GOODWILL (Details) (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Cost | $8,470,000 | $9,090,000 |
Accumulated amortization | -7,053,000 | -6,515,000 |
Net book value | 1,417,000 | 2,575,000 |
Purchased intangible assets | 0 | 0 |
Future estimated amortization expense [Abstract] | ' | ' |
2014 | 900,000 | ' |
2015 | 300,000 | ' |
2016 | 100,000 | ' |
2017 | 100,000 | ' |
Patents [Member] | USA Segment [Member] | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Cost | 1,697,000 | 1,697,000 |
Accumulated amortization | -1,170,000 | -1,029,000 |
Net book value | 527,000 | 668,000 |
Estimated useful life | '17 years | ' |
Trademarks [Member] | USA Segment [Member] | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Cost | 48,000 | 48,000 |
Accumulated amortization | -41,000 | -38,000 |
Net book value | 7,000 | 10,000 |
Estimated useful life | '7 years | ' |
Trademarks [Member] | Brazil Segment [Member] | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Cost | 2,964,000 | 3,418,000 |
Accumulated amortization | -2,472,000 | -2,362,000 |
Net book value | 492,000 | 1,056,000 |
Estimated useful life | '7 years | ' |
Customer Lists [Member] | USA Segment [Member] | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Cost | 2,677,000 | 2,677,000 |
Accumulated amortization | -2,466,000 | -2,222,000 |
Net book value | 211,000 | 455,000 |
Estimated useful life | '7 years | ' |
Customer Lists [Member] | Brazil Segment [Member] | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Cost | 1,084,000 | 1,250,000 |
Accumulated amortization | -904,000 | -864,000 |
Net book value | $180,000 | $386,000 |
Estimated useful life | '7 years | ' |
DEBT_Details
DEBT (Details) | 1 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | 3 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | 0 Months Ended | 1 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2013 | Nov. 13, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Jun. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Jun. 30, 2013 | Dec. 31, 2013 | Nov. 13, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Jun. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Sep. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Jul. 31, 2012 | Nov. 13, 2013 | Jul. 31, 2012 | Jan. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Sep. 30, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | |
USD ($) | USD ($) | USD ($) | USD ($) | Investor purchased subordinated notes [Member] | Investor purchased subordinated notes [Member] | Investor purchased subordinated notes [Member] | USA Segment [Member] | USA Segment [Member] | Brazil Segment [Member] | Brazil Segment [Member] | Brazil Segment [Member] | Senior Convertible Debentures [Member] | Senior Convertible Debentures [Member] | Senior Convertible Debentures [Member] | Senior Convertible Debentures [Member] | Senior Convertible Debentures [Member] | Senior Convertible Debentures [Member] | Senior Convertible Debentures [Member] | Subordinated Convertible Notes, Net [Member] | Subordinated Convertible Notes, Net [Member] | Factoring Agreement [Member] | Other [Member] | Other [Member] | Senior Revolving Note [Member] | Senior Revolving Note [Member] | Senior Revolving Note [Member] | Senior Revolving Note [Member] | Senior Revolving Note [Member] | Senior Revolving Note [Member] | Senior Revolving Note [Member] | Senior Revolving Note [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] | 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] | 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] | 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 notes, net [Member] | Subordinated notes, net [Member] | Third Credit Agreement [Member] | Third Credit Agreement [Member] | 2013 Subordinated Notes and Subordinated Convertible Notes [Member] | 2013 Subordinated Notes and Subordinated Convertible Notes [Member] | 2013 Subordinated Notes and Subordinated Convertible Notes [Member] | 2013 Subordinated Notes and Subordinated Convertible Notes [Member] | 2013 Subordinated Notes and Subordinated Convertible Notes [Member] | 2013 Subordinated Notes and Subordinated Convertible Notes [Member] | 2013 Subordinated Notes and Subordinated Convertible Notes [Member] | 2013 Subordinated Notes and Subordinated Convertible Notes [Member] | 2013 Subordinated Notes and Subordinated Convertible Notes [Member] | 2013 Subordinated Notes and Subordinated Convertible Notes [Member] | 2013 Subordinated Notes and Subordinated Convertible Notes [Member] | 2013 Subordinated Notes and Subordinated Convertible Notes [Member] | 2013 Subordinated Notes and Subordinated Convertible Notes [Member] | 2013 Subordinated Notes and Subordinated Convertible Notes [Member] | |
USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | BRL | USD ($) | USD ($) | USD ($) | Holder 1 [Member] | Holder 2 [Member] | USA Segment [Member] | USA Segment [Member] | USA Segment [Member] | USA Segment [Member] | USD ($) | USA Segment [Member] | USA Segment [Member] | USD ($) | USD ($) | Minimum [Member] | Maximum [Member] | TCA Global Credit Master Fund [Member] | USA Segment [Member] | USA Segment [Member] | Brazil Segment [Member] | Brazil Segment [Member] | Brazil Segment [Member] | Brazil Segment [Member] | Brazil Segment [Member] | Brazil Segment [Member] | Brazil Segment [Member] | Brazil Segment [Member] | Brazil Segment [Member] | Brazil Segment [Member] | Brazil Segment [Member] | Brazil Segment [Member] | Brazil Segment [Member] | Brazil Segment [Member] | Brazil Segment [Member] | Brazil Segment [Member] | Brazil Segment [Member] | Brazil Segment [Member] | Brazil Segment [Member] | Brazil Segment [Member] | USD ($) | USD ($) | April 2013 [Member] | April 2013 [Member] | April 2013 [Member] | USA Segment [Member] | USA Segment [Member] | USA Segment [Member] | Brazil Segment [Member] | Brazil Segment [Member] | USD ($) | USD ($) | USD ($) | USD ($) | July 2012 [Member] | July 2012 [Member] | May 2012 [Member] | January and May 2012 [Member] | January and May 2012 [Member] | January and May 2012 [Member] | July and August 2012 [Member] | July and August 2012 [Member] | Halpern Entities [Member] | Halpern Entities [Member] | |||||||
USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | Installments | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | Minimum [Member] | Maximum [Member] | Average [Member] | USD ($) | BRL | USD ($) | USD ($) | USD ($) | Minimum [Member] | Maximum [Member] | Average [Member] | USD ($) | USD ($) | Minimum [Member] | Maximum [Member] | Average [Member] | USD ($) | USD ($) | USD ($) | Minimum [Member] | Maximum [Member] | USD ($) | USD ($) | USD ($) | BRL | USD ($) | USD ($) | Amendment in July 2012 [Member] | USD ($) | Amendment in July 2012 [Member] | Financial Advisor [Member] | USD ($) | Financial Advisor [Member] | USD ($) | Replacement [Member] | ||||||||||||||||||||||||||
USD ($) | USD ($) | Investor | USD ($) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total debt | $19,169,000 | $19,169,000 | $19,584,000 | ' | ' | ' | ' | $6,250,000 | $5,117,000 | $12,919,000 | $14,467,000 | ' | ' | ' | ' | ' | ' | $0 | $1,048,000 | $0 | $4,041,000 | ' | $0 | $28,000 | ' | ' | ' | ' | ' | ' | $1,988,000 | $0 | $3,213,000 | $2,227,000 | ' | ' | ' | $4,795,000 | ' | $5,555,000 | $174,000 | $201,000 | ' | ' | ' | $2,386,000 | $3,953,000 | ' | ' | ' | $2,351,000 | $2,531,000 | ' | ' | ' | ' | ' | ' | $4,262,000 | $0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Current portion | 8,250,000 | 8,250,000 | 8,003,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long-term portion | 10,919,000 | 10,919,000 | 11,581,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Required future minimum payments on debt [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
2014 | 8,250,000 | 8,250,000 | ' | ' | ' | ' | ' | 1,988,000 | ' | 6,262,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
2015 | 1,767,000 | 1,767,000 | ' | ' | ' | ' | ' | 0 | ' | 1,767,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
2016 | 7,567,000 | 7,567,000 | ' | ' | ' | ' | ' | 6,535,000 | ' | 1,032,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
2017 | 1,005,000 | 1,005,000 | ' | ' | ' | ' | ' | 0 | ' | 1,005,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
2018 | 955,000 | 955,000 | ' | ' | ' | ' | ' | 0 | ' | 955,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Thereafter | 1,898,000 | 1,898,000 | ' | ' | ' | ' | ' | 0 | ' | 1,898,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Discount | -2,273,000 | -2,273,000 | ' | ' | ' | ' | ' | -2,273,000 | ' | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total debt | 19,169,000 | 19,169,000 | ' | ' | ' | ' | ' | 6,250,000 | ' | 12,919,000 | ' | ' | ' | ' | 200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 538,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,500,000 | ' | 100,000 | ' | ' |
Maximum borrowing capacity | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 9,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 8,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Maximum outstanding borrowings | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,800,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stated annual interest rate (in hundredths) | 5.00% | 5.00% | ' | ' | ' | ' | 5.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 12.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10.40% | 60.00% | 21.70% | 6.50% | 6.50% | ' | ' | ' | 13.50% | 17.80% | 15.00% | ' | ' | 3.90% | 6.00% | 5.50% | 9.00% | ' | ' | ' | 10.00% | ' | ' | ' | ' | ' | 5.50% | ' | 5.00% | ' | ' | ' | ' | ' | ' | 10.00% | ' | ' | ' | ' | ' | ' |
Potential annual interest rate if shareholders do not approve increase in the authorized number of shares outstanding by July 1, 2014 (in hundredths) | ' | ' | ' | ' | ' | ' | 10.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fees under agreement (in hundredths) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Minimum cumulative repayments, March 2014 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Minimum cumulative repayments, June 2014 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,800,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Minimum cumulative repayments, September 2014 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Withholding to collections (in hundredths) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 20.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Average outstanding borrowings | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 500,000 | 1,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Gross proceeds from Lines of Credit | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,800,000 | ' | ' | ' | 2,400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amount received | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Repayment of debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 300,000 | ' | ' | ' | ' | ' | ' | ' | ' | 100,000 | ' | ' | ' | 400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Value of additional unit purchased | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 400,000 | ' | ' | 400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issue of shares of common stock (in shares) | 1,714,286 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 37,260 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Market value of common stock issued | ' | 7,617,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 200,000 | ' | ' | ' | ' | ' | ' | ' | ' | 500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of shares issued under warrant (in shares) | 8,709 | 8,709 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 12,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 38,400 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Exercise price per warrant (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $16 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $16 | $16.80 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $24 | $16 | ' | ' | ' | ' | ' |
Transaction closing costs | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Transaction closing costs, cash expenses | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Transaction closing costs, Amortized to interest expense | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Guaranteed minimum value of stock issued in connection with the three tranches | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of tranches related to TCA | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Value of shares recorded in temporary equity | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100,000 | ' | ' | ' | ' | ' | ' | ' | ' | 500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Maximum amount of capital expenditures allowed per year | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Outstanding principal amount of debentures converted | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 300,000 | 100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of common stock (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 21,429 | 7,000 | ' | 5,000 | 3,026 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Conversion price (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $14 | $14 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Maximum loss recognized on the transaction | ' | -2,891,000 | -4,941,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100,000 | 100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Carrying amount of debt | ' | ' | ' | ' | 100,000 | ' | ' | ' | ' | ' | ' | ' | 400,000 | 100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Subordinated Convertible debt allocated to equity | ' | ' | ' | ' | ' | 400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares issuable on conversion (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 18,571 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Principal amount of debt with maturity extension | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 300,000 | 1,100,000 | 300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amount at closing of equity in excess of modification of notes | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Warrants to purchase shares of common stock (in shares) | 1,714,286 | 1,714,286 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 496,060 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Warrants issued to note holders for antidilution protection | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 441,395 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares exchanged to purchase shares of common stock (in shares) | ' | ' | ' | ' | ' | ' | 134,250 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,554,734 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Principal Amount of Notes | 19,169,000 | 19,169,000 | ' | ' | ' | ' | ' | 6,250,000 | ' | 12,919,000 | ' | ' | ' | ' | 200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 538,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,500,000 | ' | 100,000 | ' | ' |
Creditor's Debt Conversion Right (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $14 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stated Annual Interest Rate on Debt (in hundredths) | 5.00% | 5.00% | ' | ' | ' | ' | 5.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 12.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10.40% | 60.00% | 21.70% | 6.50% | 6.50% | ' | ' | ' | 13.50% | 17.80% | 15.00% | ' | ' | 3.90% | 6.00% | 5.50% | 9.00% | ' | ' | ' | 10.00% | ' | ' | ' | ' | ' | 5.50% | ' | 5.00% | ' | ' | ' | ' | ' | ' | 10.00% | ' | ' | ' | ' | ' | ' |
Maturity Date of Debt | ' | ' | ' | ' | ' | 31-Jul-16 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 31-Dec-15 | ' | ' | ' | ' | 31-Dec-21 | 31-Dec-21 | ' | ' | ' | ' | ' | ' | 31-May-14 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1-Jul-15 | 1-Jul-16 | ' | ' | ' | 31-Jul-19 | ' | 31-Jul-16 | ' | ' | ' | ' | ' | 31-Jul-15 | ' | ' | ' | ' | ' | ' | ' |
Number of Shares Under Warrants (in shares) | 8,709 | 8,709 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 12,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 38,400 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Exercisable Price of Warrant | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 'Exercisable immediately at $16.00 per share | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Expiration Date of Warrant | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1-May-18 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fair value of conversion features | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fair value of liability warrants | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds from issuance of the convertible notes and related warrants | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 200,000 | 600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Increase in note principle under PIK election | ' | 100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Increase in shares of common stock underlying notes (in shares) | 8,709 | 8,709 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds from other debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 800,000 | 2,400,000 | ' | ' | ' | 1,800,000 | ' | ' | 900,000 | ' | ' | ' |
Debt discounts | 2,273,000 | 2,273,000 | ' | ' | ' | ' | ' | 2,273,000 | ' | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
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 debenturebs 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. | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fair value of warrants issued | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
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% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stated principal amount | ' | ' | ' | 100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,000,000 | 1,000,000 | ' | 4,400,000 | ' | ' | 1,000,000 | ' | 2,500,000 | ' |
Contract value of old notes repaid | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,300,000 | ' | ' | ' | ' | ' | ' |
Cash investment exchanged | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100,000 | ' | ' | ' | ' | ' | ' |
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 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.B 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.B Holders making an additional investment were deemed under the agreement to have made a PIK Election. | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt covenant description | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 'During the term of the TCA agreement, the Corporate and USA segments 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, (iv) declare or pay dividends or make other distributions to shareholders, and (v) make loans and distributions of assets to any persons, including affiliates. | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amendment fee removed | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of investors | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4 | ' | ' | ' |
Available for working capital | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds allocated for convertible debt and warrants | ' | 3,600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Convertible debt effective interest rate (in hundredths) | ' | 81.10% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 20.90% | 25.10% |
Amount borrowed | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $700,000 | 1,700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Borrowing capacity, percentage of collateral, lower range limit (in hundredths) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 30.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Borrowing capacity, percentage of collateral, upper range limit (in hundredths) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 110.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
EQUITY_AND_SHAREBASED_COMPENSA2
EQUITY AND SHARE-BASED COMPENSATION (Details) (USD $) | 1 Months Ended | 12 Months Ended | 1 Months Ended | 3 Months Ended | 3 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | |||||||||||||||||||||||||
Dec. 31, 2013 | Oct. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Jan. 31, 2014 | Mar. 31, 2014 | Mar. 25, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Apr. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Apr. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Apr. 30, 2013 | Jan. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | |
Subsequent Event [Member] | Convertible Debt [Member] | Convertible Debt [Member] | Convertible Debt [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] | 2010 Plan [Member] | 2010 Plan [Member] | 2010 Plan [Member] | 2010 Plan [Member] | 2010 Plan [Member] | 2005 Plan [Member] | Other Plans [Member] | |||||
Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Retiring Director [Member] | Each Non-employee Directors [Member] | Executive Officers [Member] | Director Serving on Strategic Committee [Member] | Employees and Directors [Member] | Employees and Directors [Member] | Consultants [Member] | 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 Directors [Member] | Options [Member] | Options [Member] | Options [Member] | Options [Member] | Options [Member] | Options [Member] | |||||||||||||
Nutra SA [Member] | Officer | Director | Executive Officers [Member] | Executive Officers [Member] | Each Non-employee Directors [Member] | Each Non-employee Directors [Member] | ||||||||||||||||||||||||||||||||
Director | Director | |||||||||||||||||||||||||||||||||||||
Schedule of Share-based Compensation Arrangements by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Reverse Stock Split | ' | '200 to 1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common stock, shares authorized (in shares) | 6,000,000 | ' | 6,000,000 | 2,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock issuance price (in dollars per share) | $5.24 | ' | $5.24 | ' | $5.24 | ' | ' | ' | ' | $14 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of shares issued under warrant (in shares) | 1,714,286 | ' | 1,714,286 | ' | 162,586 | ' | 1,399,614 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Value of common stock per underlying share (in dollars per share) | $0.01 | ' | $0.01 | ' | $0.01 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds from offering | $7,600,000 | ' | ' | ' | ' | $4,600,000 | ' | $1,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Underwriting discount and commission | 700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Offering expense | 1,400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Exercise price of warrants (in dollars per share) | $6.55 | ' | $6.55 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Warrants issued fees and services (in shares) | 87,815 | ' | ' | ' | 8,130 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares Under Options, Outstanding [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Outstanding at beginning of period (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | 169,254 | 192,944 | ' | ' | ' | ' | ' | 158,304 | 180,494 | 10,950 | 12,450 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Granted or issued (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | 40,000 | 29,060 | ' | ' | ' | ' | 1,250 | 38,750 | 28,060 | 1,250 | 1,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,750 | 1,250 | ' | ' |
Impact of anti-dilution clauses (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Impact of amendment (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Exercised (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | ' | ' | ' | ' | ' | 0 | 0 | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Forfeited, expired or cancelled (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | -29,817 | -52,750 | ' | ' | ' | ' | ' | -27,317 | -50,250 | -2,500 | -2,500 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Outstanding at end of period (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | 179,437 | 169,254 | 192,944 | ' | ' | ' | ' | 169,737 | 158,304 | 9,700 | 10,950 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Exercisable at end of period (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | 157,012 | ' | ' | ' | ' | ' | ' | 148,698 | ' | 8,314 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Options, Weighted Average Exercise Price [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Outstanding at beginning of period (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | $32 | $54 | ' | ' | ' | ' | ' | $26 | $48 | $106 | $152 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Granted or issued (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | $15.38 | $30 | ' | ' | ' | ' | $16 | $15.36 | $26 | $16 | $16 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $16 | $16 | ' | ' |
Forfeited, expired or cancelled (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | $50.58 | $68 | ' | ' | ' | ' | ' | $27.75 | $58 | $300 | $266 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Outstanding at end of period (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | $24.28 | $32 | $54 | ' | ' | ' | ' | $23.13 | $26 | $44.45 | $106 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Exercisable at end of period (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | $25.23 | ' | ' | ' | ' | ' | ' | $24.31 | ' | $41.72 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Options, Additional Disclosures [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Outstanding, weighted average remaining contractual life | ' | ' | ' | ' | ' | ' | ' | ' | '6 years 2 months 12 days | '6 years 3 months 18 days | '6 years 3 months 18 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Exercisable, weighted average remaining contractual life | ' | ' | ' | ' | ' | ' | ' | ' | '5 years 10 months 24 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares Under Warrants [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Outstanding at beginning of period (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 233,947 | 806,769 | 233,947 | ' | 5,756 | 17,372 | ' | 801,013 | 216,575 | ' | ' | ' | ' | ' | ' | ' | ' |
Granted or issued (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,859,111 | 423,782 | ' | 1,820,711 | 0 | ' | 38,400 | 423,782 | ' | ' | ' | ' | ' | ' | ' | ' |
Impact of anti-dilution clauses (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 385,292 | 518,720 | ' | 0 | 0 | ' | 385,292 | 518,720 | ' | ' | ' | ' | ' | ' | ' | ' |
Impact of amendment (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -496,061 | 78,215 | ' | -8,711 | 0 | ' | -487,350 | 78,215 | ' | ' | ' | ' | ' | ' | ' | ' |
Exercised (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | -25,015 | ' | 0 | 0 | ' | 0 | -25,015 | ' | ' | ' | ' | ' | ' | ' | ' |
Forfeited, expired or cancelled (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -148,829 | -422,880 | ' | -2,722 | -11,616 | ' | -146,107 | -411,264 | ' | ' | ' | ' | ' | ' | ' | ' |
Outstanding at end of period (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,406,282 | 806,769 | 233,947 | 1,815,034 | 5,756 | 17,372 | 591,248 | 801,013 | 216,575 | ' | ' | ' | ' | ' | ' | ' |
Exercisable at end of period (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,320,567 | ' | ' | 1,729,319 | ' | ' | 591,254 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Equity and Liability Warrants Outstanding, Weighted Average Exercise Price [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Outstanding at beginning of period (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $208 | $24 | $208 | ' | $90 | $60 | ' | $24 | $220 | ' | ' | ' | ' | ' | ' | ' | ' |
Granted (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $6.85 | $20 | ' | $6.66 | $0 | ' | $16 | $20 | ' | ' | ' | ' | ' | ' | ' | ' |
Impact of anti-dilution clauses (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0 | $0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Impact of amendment (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0 | $0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Exercised (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0 | $20 | ' | $0 | $0 | ' | ' | $20 | ' | ' | ' | ' | ' | ' | ' | ' |
Forfeited, expired or cancelled (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $66.92 | $86 | ' | $137.60 | $44 | ' | $65.60 | $88 | ' | ' | ' | ' | ' | ' | ' | ' |
Outstanding at end of period (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $6.33 | $24 | $208 | $6.69 | $90 | $60 | $5.24 | $24 | $220 | ' | ' | ' | ' | ' | ' | ' |
Exercisable at end of period (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $6.32 | ' | ' | $6.69 | ' | ' | $5.24 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Equity and Liability Warrants, Additional Disclosures [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Outstanding, weighted average remaining contractual life | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '4 years 6 months | '3 years 6 months | '1 year 8 months 12 days | '5 years | '2 years 4 months 24 days | '3 years 6 months | '2 years 10 months 24 days | '3 years 6 months | '1 year 6 months | ' | ' | ' | ' | ' | ' | ' |
Exercisable, weighted average remaining contractual life | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '4 years 4 months 24 days | ' | ' | '5 years | ' | ' | '2 years 10 months 24 days | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Initially reserved (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,250 | 125,000 | ' | ' | ' | ' | ' |
Number of shares reserved after increment (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5,000 | ' | ' | ' | ' | ' | ' |
Number of non-employee directors | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5 | 5 | ' | ' |
Vesting period (in installments) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '12 months | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '9 months | '12 months | ' | ' |
Expiration date | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 30-Apr-18 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 30-Apr-23 | 31-Jan-23 | ' | ' |
Number of directors on Strategic Committee | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Status of Shares Reserved for Issuance [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Annual increase in number of reserved shares (in hundredths) | ' | ' | ' | ' | ' | ' | ' | ' | 5.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Additionally reserved - board action (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 40,000 | ' | ' | ' | ' |
Terms of award, maximum | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '10 years | ' | ' | ' | '10 years | '10 years |
Total outstanding options awarded to current and former directors, employees and consultants | ' | ' | ' | ' | ' | ' | ' | ' | ' | 17,384 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Weighted-average assumptions used in valuing stock options [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fair value of options granted (in dollars per share) | ' | ' | $11.18 | $20 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Assumed minimum volatility (in hundredths) | ' | ' | 119.20% | 104.40% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Assumed maximum volatility (in hundredths) | ' | ' | 122.30% | 113.30% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Weighted average volatility (in hundredths) | ' | ' | 121.10% | 109.20% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Assumed risk free interest rate minimum (in hundredths) | ' | ' | 0.70% | 0.20% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Assumed risk free interest rate maximum (in hundredths) | ' | ' | 1.40% | 1.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Weighted average risk free interest rate (in hundredths) | ' | ' | 0.90% | 0.90% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Expected life of options (in years) | ' | ' | '6 years 2 months 12 days | '6 years 1 month 6 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Expected dividends | ' | ' | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Forfeiture rate (in hundredths) | ' | ' | 5.00% | 5.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares issued (in shares) | 1,714,286 | ' | ' | ' | 162,586 | ' | ' | ' | ' | ' | ' | 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 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Exercised (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $28 | $24 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Grant date fair value of options equaled cash fees | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 200,000 | 100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of executive officers receiving stock options in lieu of a portion of their compensation | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of compensation paid in stock options instead of in cash (in hundredths) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 83.30% | 90.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Modified stock options (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | 108,588 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Pre-modification exercise price (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | $38 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revised exercise price (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | $16 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Difference in fair value of the options before and after the modification | ' | ' | ' | ' | ' | ' | ' | ' | 100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Difference in unrecognized compensation as a result of the modification, maximum | ' | ' | ' | ' | ' | ' | ' | ' | 100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Purchase of common stock liability warrants (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 25,016 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares issued (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7,764 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amount transferred into fair value of the liability warrant | ' | ' | ' | 700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Convertible notes issued | ' | ' | ' | ' | ' | $4,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Warrants to purchase shares of common stock (in shares) | 1,714,286 | ' | 1,714,286 | ' | 162,586 | ' | 1,399,614 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stated annual interest rate (in hundredths) | 5.00% | ' | 5.00% | ' | ' | ' | 5.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
EQUITY_AND_SHAREBASED_COMPENSA3
EQUITY AND SHARE-BASED COMPENSATION, EMPLOYEE COMPENSATION AND PRICE RANGES (Details) (USD $) | 12 Months Ended | |
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' |
Total share-based compensation expense, options | $538 | $923 |
Summary of information related to outstanding and exercisable warrants [Abstract] | ' | ' |
Shares Under Warrants - Outstanding (in shares) | 2,406,282 | ' |
Weighted Average Remaining Contractual Life (Years) - Outstanding | '4 years 6 months | ' |
Weighted Average Exercise Price - Outstanding (in dollars per share) | $6.33 | ' |
Shares Under Warrants - Exercisable (in shares) | 2,320,567 | ' |
Weighted Average Exercise Price - Exercisable (in dollars per share) | $6.32 | ' |
Weighted Average Remaining Contractual Life - Exercisable | '4 years 4 months 24 days | ' |
Equity Warrant [Member] | $6.55 [Member] | ' | ' |
Summary of information related to outstanding and exercisable warrants [Abstract] | ' | ' |
Exercise price range, upper range limit (in dollars per share) | $6.55 | ' |
Shares Under Warrants - Outstanding (in shares) | 1,800,001 | ' |
Weighted Average Remaining Contractual Life (Years) - Outstanding | '5 years | ' |
Weighted Average Exercise Price - Outstanding (in dollars per share) | $6.55 | ' |
Shares Under Warrants - Exercisable (in shares) | 1,714,286 | ' |
Weighted Average Exercise Price - Exercisable (in dollars per share) | $6.55 | ' |
Weighted Average Remaining Contractual Life - Exercisable | '5 years | ' |
Equity Warrant [Member] | $ 16.00 to $16.80 [Member] | ' | ' |
Summary of information related to outstanding and exercisable warrants [Abstract] | ' | ' |
Exercise price range, lower range limit (in dollars per share) | $16 | ' |
Exercise price range, upper range limit (in dollars per share) | $16.80 | ' |
Shares Under Warrants - Outstanding (in shares) | 12,004 | ' |
Weighted Average Remaining Contractual Life (Years) - Outstanding | '4 years 6 months | ' |
Weighted Average Exercise Price - Outstanding (in dollars per share) | $16.40 | ' |
Shares Under Warrants - Exercisable (in shares) | 12,004 | ' |
Weighted Average Exercise Price - Exercisable (in dollars per share) | $16.40 | ' |
Weighted Average Remaining Contractual Life - Exercisable | '4 years 6 months | ' |
Equity Warrant [Member] | $46.80 [Member] | ' | ' |
Summary of information related to outstanding and exercisable warrants [Abstract] | ' | ' |
Exercise price range, upper range limit (in dollars per share) | $46.80 | ' |
Shares Under Warrants - Outstanding (in shares) | 3,029 | ' |
Weighted Average Remaining Contractual Life (Years) - Outstanding | '2 years 10 months 24 days | ' |
Weighted Average Exercise Price - Outstanding (in dollars per share) | $46.80 | ' |
Shares Under Warrants - Exercisable (in shares) | 3,029 | ' |
Weighted Average Exercise Price - Exercisable (in dollars per share) | $46.80 | ' |
Weighted Average Remaining Contractual Life - Exercisable | '2 years 10 months 24 days | ' |
Liability Warrant [Member] | $5.24 [Member] | ' | ' |
Summary of information related to outstanding and exercisable warrants [Abstract] | ' | ' |
Exercise price range, upper range limit (in dollars per share) | $5.24 | ' |
Shares Under Warrants - Outstanding (in shares) | 591,248 | ' |
Weighted Average Remaining Contractual Life (Years) - Outstanding | '2 years 10 months 24 days | ' |
Weighted Average Exercise Price - Outstanding (in dollars per share) | $5.24 | ' |
Shares Under Warrants - Exercisable (in shares) | 591,248 | ' |
Weighted Average Exercise Price - Exercisable (in dollars per share) | $5.24 | ' |
Weighted Average Remaining Contractual Life - Exercisable | '2 years 10 months 24 days | ' |
$ 6.00-$16.00 [Member] | ' | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' | ' |
Exercise price range, lower range limit (in dollars per share) | $6 | ' |
Exercise price range, upper range limit (in dollars per share) | $16 | ' |
Shares Under Options - Outstanding (in shares) | 135,989 | ' |
Weighted Average Remaining Contractual Life (Years) - Outstanding | '7 years | ' |
Weighted Average Exercise Price - Outstanding (in dollars per share) | $15.82 | ' |
Shares Under Options - Exercisable (in shares) | 114,636 | ' |
Weighted Average Remaining Contractual Life (Years) - Exercisable | '6 years 9 months 18 days | ' |
Weighted Average Exercise Price - Exercisable (in dollars per share) | $16 | ' |
$28.00 [Member] | ' | ' |
Share-based Compensation, Shares Authorized under 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) | 1,457 | ' |
Weighted Average Remaining Contractual Life (Years) - Outstanding | '7 years 2 months 12 days | ' |
Weighted Average Exercise Price - Outstanding (in dollars per share) | $28 | ' |
Shares Under Options - Exercisable (in shares) | 1,457 | ' |
Weighted Average Remaining Contractual Life (Years) - Exercisable | '8 years 2 months 12 days | ' |
Weighted Average Exercise Price - Exercisable (in dollars per share) | $28 | ' |
$40.00[Member] | ' | ' |
Share-based Compensation, Shares Authorized under 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) | 23,991 | ' |
Weighted Average Remaining Contractual Life (Years) - Outstanding | '4 years 9 months 18 days | ' |
Weighted Average Exercise Price - Outstanding (in dollars per share) | $40 | ' |
Shares Under Options - Exercisable (in shares) | 23,991 | ' |
Weighted Average Remaining Contractual Life (Years) - Exercisable | '4 years 9 months 18 days | ' |
Weighted Average Exercise Price - Exercisable (in dollars per share) | $40 | ' |
$60.00 [Member] | ' | ' |
Share-based Compensation, Shares Authorized under 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 Remaining Contractual Life (Years) - Outstanding | '1 year | ' |
Weighted Average Exercise Price - Outstanding (in dollars per share) | $60 | ' |
Shares Under Options - Exercisable (in shares) | 15,000 | ' |
Weighted Average Remaining Contractual Life (Years) - Exercisable | '1 year | ' |
Weighted Average Exercise Price - Exercisable (in dollars per share) | $60 | ' |
$74.00 [Member] | ' | ' |
Share-based Compensation, Shares Authorized under 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) | 2,500 | ' |
Weighted Average Remaining Contractual Life (Years) - Outstanding | '7 years 2 months 12 days | ' |
Weighted Average Exercise Price - Outstanding (in dollars per share) | $74 | ' |
Shares Under Options - Exercisable (in shares) | 1,428 | ' |
Weighted Average Remaining Contractual Life (Years) - Exercisable | '7 years 2 months 12 days | ' |
Weighted Average Exercise Price - Exercisable (in dollars per share) | $74 | ' |
$242.00 [Member] | ' | ' |
Share-based Compensation, Shares Authorized under 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 Remaining Contractual Life (Years) - Outstanding | '2 years | ' |
Weighted Average Exercise Price - Outstanding (in dollars per share) | $242 | ' |
Shares Under Options - Exercisable (in shares) | 500 | ' |
Weighted Average Remaining Contractual Life (Years) - Exercisable | '2 years | ' |
Weighted Average Exercise Price - Exercisable (in dollars per share) | $242 | ' |
$16.00 to $242.00 [Member] | ' | ' |
Share-based Compensation, Shares Authorized under 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) | $242 | ' |
Shares Under Options - Outstanding (in shares) | 179,437 | ' |
Weighted Average Remaining Contractual Life (Years) - Outstanding | '6 years 2 months 12 days | ' |
Weighted Average Exercise Price - Outstanding (in dollars per share) | $24.28 | ' |
Shares Under Options - Exercisable (in shares) | 157,012 | ' |
Weighted Average Remaining Contractual Life (Years) - Exercisable | '5 years 10 months 24 days | ' |
Weighted Average Exercise Price - Exercisable (in dollars per share) | $25.23 | ' |
Consultants [Member] | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' |
Total share-based compensation expense, options | 16 | 42 |
Directors [Member] | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' |
Total share-based compensation expense, options | 262 | 285 |
Employees [Member] | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' |
Total share-based compensation expense, options | 127 | 152 |
Executive Officers [Member] | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' |
Total share-based compensation expense, options | $133 | $444 |
EQUITY_METHOD_INVESTMENT_Detai
EQUITY METHOD INVESTMENT (Details) (USD $) | 12 Months Ended |
In Millions, unless otherwise specified | Dec. 31, 2013 |
Schedule of Equity Method Investments [Line Items] | ' |
Ownership interest sold (in hundredths) | 50.00% |
Sales proceeds from membership interest | $1.20 |
Period considered for purchase of capital stock in case of decline of right | '2 months |
Exercise price for option as percentage of capital investment (in hundredths) | 25.00% |
Option period one percentage [Member] | ' |
Schedule of Equity Method Investments [Line Items] | ' |
Percentage right to purchase capital stock (in hundredths) | 45.00% |
Percentage of capital stock to be purchased in case of decline of right (in hundredths) | 45.00% |
Option period two percentage [Member] | ' |
Schedule of Equity Method Investments [Line Items] | ' |
Percentage right to purchase capital stock (in hundredths) | 25.00% |
Percentage of capital stock to be purchased in case of decline of right (in hundredths) | 25.00% |
PREPETITION_LIABILITIES_Detail
PRE-PETITION LIABILITIES (Details) (USD $) | 1 Months Ended |
In Millions, unless otherwise specified | Jan. 31, 2012 |
PRE-PETITION LIABILITIES [Abstract] | ' |
Bankruptcy claims, amount paid to settle claims | $1.60 |
INCOME_TAXES_Details
INCOME TAXES (Details) (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
United States [Abstract] | ' | ' |
Net operating loss carryforwards | $43,328,000 | $41,374,000 |
Gain on sale of membership interests in Nutra SA | 403,000 | 374,000 |
Stock options and warrants | 1,199,000 | 1,144,000 |
Intangible assets | 1,194,000 | 960,000 |
Property | 6,832,000 | 5,651,000 |
Capitalized expenses | 652,000 | 715,000 |
Convertible debt | -112,000 | -399,000 |
Other | 451,000 | 86,000 |
Deferred tax assets | 53,947,000 | 49,905,000 |
Less: Valuation allowance | -53,947,000 | -49,905,000 |
Brazil [Abstract] | ' | ' |
Intangible assets | -228,000 | -490,000 |
Property | -1,555,000 | -2,165,000 |
Net operating loss carryforwards | 2,381,000 | 960,000 |
Other | 285,000 | 255,000 |
Net deferred tax asset (liability) | 883,000 | -1,440,000 |
Less -valuation allowance | -883,000 | 0 |
Net deferred tax liabilities | 0 | -1,440,000 |
Deferred tax asset - current | 0 | 234,000 |
Deferred tax liability - long-term | 0 | -1,674,000 |
Change in valuation allowance | 4,900,000 | 1,900,000 |
Valuation allowance | 900,000 | ' |
Change in net operating loss and other deferred changes | 3,900,000 | 1,700,000 |
Impact of adjustments to capitalized expenses and stock option compensation | 0 | 2,100,000 |
Loss before income taxes [Abstract] | ' | ' |
Foreign | -6,832,000 | -5,051,000 |
Domestic | -12,247,000 | -8,020,000 |
Loss before income taxes | -19,079,000 | -13,071,000 |
Foreign deferred tax benefit | 1,400,000 | ' |
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 | -6,487,000 | -4,444,000 |
Increase (decrease) resulting from [Abstract] | ' | ' |
State tax benefit, net of federal tax effect | -653,000 | -251,000 |
Change in valuation allowance | 4,927,000 | -1,926,000 |
Adjustment to U.S. net operating losses | 0 | 0 |
Adjustment to capitalized costs deferred balances | 0 | 443,000 |
Adjustment to stock option compensation deferred balances | 0 | 1,602,000 |
Reduction in deferred balances for forfeited, expired or cancelled options | 255,000 | 602,000 |
Expiration of U.S. net operating losses | 415,000 | 1,460,000 |
Nontaxable fair value adjustment | 350,000 | -1,843,000 |
Nondeductible convertible debt issuance expenses | 521,000 | 2,285,000 |
Impact of state rate changes | -677,000 | 0 |
Nondeductible expenses | 6,000 | 10,000 |
Foreign taxes | 0 | 6,000 |
Adjustments to Brazil deferred balances | 0 | -222,000 |
Adjustments to U.S. deferred balances | -96,000 | 343,000 |
Income tax benefit | -1,439,000 | -1,935,000 |
Federal [Member] | ' | ' |
Operating Loss Carryforwards [Line Items] | ' | ' |
Net operating loss carryforwards | 116,200,000 | ' |
Operating loss carryforwards, expiration dates | 'from 2018 through 2033 | ' |
State [Member] | ' | ' |
Operating Loss Carryforwards [Line Items] | ' | ' |
Net operating loss carryforwards | 68,400,000 | ' |
Operating loss carryforwards, expiration dates | '2014 through 2033 | ' |
Impact of the changes | 700,000 | ' |
Brazil [Member] | ' | ' |
Operating Loss Carryforwards [Line Items] | ' | ' |
Net operating loss carryforwards | 7,000,000 | ' |
Expiring net operating losses [Member] | ' | ' |
Operating Loss Carryforwards [Line Items] | ' | ' |
Impact of the changes | 400,000 | ' |
Other deferred items [Member] | ' | ' |
Operating Loss Carryforwards [Line Items] | ' | ' |
Impact of the changes | $200,000 | ' |
COMMITMENTS_AND_CONTINGENCIES_
COMMITMENTS AND CONTINGENCIES (Details) (USD $) | 12 Months Ended | 1 Months Ended | |||||||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Feb. 06, 2009 | Jan. 31, 2012 | Jul. 31, 2013 | Dec. 31, 2013 |
Positive Outcome of Litigation [Member] | Sellers [Member] | Sellers [Member] | Sellers [Member] | Diabco Life Sciences, LLC [Member] | Diabco Life Sciences, LLC [Member] | Pending Litigation [Member] | |||
Former Irgovel Stockholder David Resyng [Member] | |||||||||
Leases [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Remaining term of lease | '21 years | ' | ' | ' | ' | ' | ' | ' | ' |
Future minimum payments under operating lease commitments [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
2014 | $0.30 | ' | ' | ' | ' | ' | ' | ' | ' |
2015 | 0.3 | ' | ' | ' | ' | ' | ' | ' | ' |
2016 | 0.3 | ' | ' | ' | ' | ' | ' | ' | ' |
2017 | 0.1 | ' | ' | ' | ' | ' | ' | ' | ' |
2018 | 0.1 | ' | ' | ' | ' | ' | ' | ' | ' |
Thereafter | 1.1 | ' | ' | ' | ' | ' | ' | ' | ' |
Lease expense | 0.5 | 0.4 | ' | ' | ' | ' | ' | ' | ' |
Loss Contingencies [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Damages sought by plaintiff | ' | ' | ' | ' | ' | ' | ' | 0.9 | 3 |
Amount of second installment on purchase agreement being withheld | ' | ' | ' | ' | ' | 1 | ' | ' | ' |
Amount held in escrow | ' | ' | ' | 1.9 | 1.9 | 2 | ' | ' | ' |
Amount of escrow liability in accrued expenses | ' | ' | ' | 1.4 | 0 | ' | ' | ' | ' |
Pre-acquisition contingencies | ' | ' | ' | 0.7 | ' | ' | ' | ' | ' |
Escrow balance available to settle remaining contingencies | ' | ' | ' | 1.4 | ' | ' | ' | ' | ' |
Parent Company contribution to Nutra SA (in hundredths) | 90.00% | ' | ' | ' | ' | ' | ' | ' | ' |
Amount of damages arising as a result of breach of promissory note | ' | ' | ' | ' | ' | ' | 0.5 | ' | ' |
Escrow contingency threshold | 1 | ' | ' | ' | ' | ' | ' | ' | ' |
Gain Contingencies [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Judgment Amount | ' | ' | $1 | ' | ' | ' | ' | ' | ' |
EMPLOYEE_BONUS_PLAN_Details
EMPLOYEE BONUS PLAN (Details) (USD $) | Dec. 31, 2013 |
In Millions, unless otherwise specified | |
EMPLOYEE BONUS PLAN [Abstract] | ' |
Cash incentive bonus plan, amount approved | $0.70 |
Employee bonus accrued | 0.6 |
Approved executive bonus plan | 0.3 |
Approved executive bonus plan, employee bonus accrued | $0.20 |
RELATED_PARTY_TRANSACTIONS_Det
RELATED PARTY TRANSACTIONS (Details) (USD $) | 1 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | 1 Months Ended | 1 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | |||||||||||||||||||||
Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2013 | Jun. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Jan. 31, 2012 | Dec. 31, 2013 | Jan. 31, 2012 | Dec. 31, 2011 | Jan. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Apr. 30, 2012 | Jan. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Apr. 30, 2013 | Jan. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | ||||||
Shareholders non authorization rate [Member] | Convertible Subordinated Debt [Member] | 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 - 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] | HC and Halpern Entities [Member] | HC and Halpern Entities [Member] | W. John Short, CEO and director [Member] | W. John Short, CEO and director [Member] | Minimum [Member] | Maximum [Member] | ||||||||||
First Issuance 30.00 per share [Member] | Second Issuance at 20.00 per share [Member] | Second Issuance at 20.00 per share [Member] | Third issuance 14.00 per share [Member] | Third issuance 14.00 per share [Member] | Convertible Subordinated Debt [Member] | Convertible Subordinated Debt [Member] | Note | Director - Baruch Halpern [Member] | Director - Baruch Halpern [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% | 5.00% | |||||
Additional consideration paid on certain transactions (in hundredths) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2.50% | 5.00% | |||||
Summary of transactional warrants listed below under terms of financial advisor agreement with HC [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Date of Warrants | ' | ' | ' | ' | ' | ' | ' | 31-Jan-12 | 31-Jan-12 | 31-May-12 | 31-Jul-12 | 31-Aug-12 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Number of Shares Under Warrants (in shares) | 8,709 | 8,709 | ' | ' | ' | ' | ' | 1,250 | 5,563 | 63 | 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] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share to be issued for cancelled warrants upon Shareholder authorization. | 75,377 | 75,377 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Fair value at time of exchange | $300,000 | $300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $2,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Stated annual interest rate (in hundredths) | 5.00% | 5.00% | ' | ' | 10.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Exercise price per warrant (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | $30 | $20 | $20 | $14 | $14 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Expiration Date of Warrant | ' | ' | ' | ' | ' | ' | ' | 31-Jan-17 | 31-Jan-17 | 31-May-17 | 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) | $6.55 | $6.55 | ' | ' | ' | ' | $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 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 164,000 | ' | ' | ' | ' | |||||
Proceeds received from Mr. Halpern and Halpern Entities upon issuance of convertible debt and related warrants | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 306,000 | 213,000 | ' | ' | ' | ' | |||||
Interest earned by Halpern entities on convertible debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 288,000 | 302,000 | ' | ' | ' | ' | |||||
Payments to HC relevant to HC's class 6 general unsecured creditor claim | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 256,000 | ' | ' | ' | ' | |||||
Gain on extinguishment of debt | ' | ' | ' | ' | ' | 300,000 | ' | ' | ' | ' | ' | ' | ' | 400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Subordinated convertible notes owned | ' | ' | ' | 100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Warrants canceled during the period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 185,714 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Accounts payable or accrued expenses | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100,000 | 100,000 | ' | ' | ' | ' | |||||
Warrants issued (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 25,833 | ' | ' | ' | ' | ' | ' | ' | ' | 234 | ' | ' | ' | ' | ' | ' | ' | |||||
Weighted average exercise price per warrant (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $20 | $24 | $16 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Warrants granted in period, fair value | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Number of Securities Called by Warrants (in shares) | 1,714,286 | 1,714,286 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 178,572 | 125,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Common stock issued for vendor services, (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Consulting service fees | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100,000 | 100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Options vested (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Vesting Period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 'Vest in twelve equal monthly installments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Proceeds from issuance of subordinated long-term debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100,000 | ' | ' | ' | ' | 25,000 | 50,000 | ' | ' | |||||
Interest paid maximum | ' | $2,537,000 | $1,651,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $1,000,000 | $1,000,000 | ' | ' | ' | ' | ' | ' | |||||
Number of subordinated convertible notes | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3 | ' | ' | ' | ' | ' | ' | ' | |||||
Issue of shares of common stock (in shares) | 1,714,286 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 634,679 | ' | ' | ' | ' | ' | ' | ' | 82 | ' | ' | ' | ' | ' | ' | ' | |||||
[1] | In 2013, in connection with the Exchange, these warrants were cancelled in exchange for 75,377 shares of our common stock (with a fair value of $0.3 million at time of the Exchange), however the shares will not be issued until after shareholders vote to approve an increase in our authorized shares of common stock. If shareholders do not approve an increase to the authorized number of shares of common stock by July 1, 2014, the interest rate on the replacement notes will increase from 5% to 10%. | |||||||||||||||||||||||||||||||||
[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 anti-dilution 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. |
SEGMENT_INFORMATION_Details
SEGMENT INFORMATION (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Segment | ||
SEGMENT INFORMATION [Abstract] | ' | ' |
Number of reportable segments | 2 | ' |
Segment information identified and reconciliation of segment information to total consolidated information [Abstract] | ' | ' |
Revenues | $35,051 | $37,723 |
Cost of goods sold | 31,106 | 31,651 |
Gross profit | 3,945 | 6,072 |
Intersegment fees | ' | 0 |
Depreciation and amortization (in selling, general and administrative) | -1,249 | -2,062 |
Impairment of property | -300 | -1,069 |
Other operating expense | -12,366 | -11,628 |
Loss from operations | -9,970 | -8,687 |
Net loss attributable to RiceBran Technologies shareholders | -15,021 | -9,509 |
Interest expense | -3,934 | -1,926 |
Depreciation (in costs of goods sold) | -2,799 | -2,550 |
Purchases of property | 3,119 | 6,482 |
Segment information for selected balance sheet accounts [Abstract] | ' | ' |
Property, net, end of period | 24,958 | 28,457 |
Goodwill, end of period | 4,139 | 4,773 |
Intangible assets, net, end of period | 1,417 | 2,575 |
Total assets, end of period | 44,578 | 47,006 |
Revenues from External Customers by Geographical Area [Line Items] | ' | ' |
Total revenues | 35,051 | 37,723 |
United States [Member] | ' | ' |
Revenues from External Customers by Geographical Area [Line Items] | ' | ' |
Total revenues | 12,869 | 16,177 |
Brazil [Member] | ' | ' |
Revenues from External Customers by Geographical Area [Line Items] | ' | ' |
Total revenues | 17,861 | 18,266 |
Other International [Member] | ' | ' |
Revenues from External Customers by Geographical Area [Line Items] | ' | ' |
Total revenues | 4,321 | 3,280 |
Corporate [Member] | ' | ' |
Segment information identified and reconciliation of segment information to total consolidated information [Abstract] | ' | ' |
Revenues | 0 | 0 |
Cost of goods sold | 0 | 0 |
Gross profit | 0 | 0 |
Intersegment fees | ' | 347 |
Depreciation and amortization (in selling, general and administrative) | -24 | -197 |
Impairment of property | 0 | 0 |
Other operating expense | -5,918 | -4,768 |
Loss from operations | -5,942 | -4,618 |
Net loss attributable to RiceBran Technologies shareholders | -12,418 | -7,046 |
Interest expense | -1,950 | -743 |
Depreciation (in costs of goods sold) | 0 | 0 |
Purchases of property | 21 | 1 |
Segment information for selected balance sheet accounts [Abstract] | ' | ' |
Property, net, end of period | 55 | 36 |
Goodwill, end of period | 0 | 0 |
Intangible assets, net, end of period | 0 | 0 |
Total assets, end of period | 6,039 | 3,201 |
USA [Member] | ' | ' |
Segment information identified and reconciliation of segment information to total consolidated information [Abstract] | ' | ' |
Revenues | 12,023 | 12,633 |
Cost of goods sold | 9,078 | 8,946 |
Gross profit | 2,945 | 3,687 |
Intersegment fees | ' | 0 |
Depreciation and amortization (in selling, general and administrative) | -469 | -1,006 |
Impairment of property | -300 | -1,069 |
Other operating expense | -2,006 | -2,364 |
Loss from operations | 170 | -752 |
Net loss attributable to RiceBran Technologies shareholders | 170 | -770 |
Interest expense | 0 | -17 |
Depreciation (in costs of goods sold) | -926 | -899 |
Purchases of property | 191 | 150 |
Segment information for selected balance sheet accounts [Abstract] | ' | ' |
Property, net, end of period | 7,231 | 8,731 |
Goodwill, end of period | 0 | 0 |
Intangible assets, net, end of period | 745 | 1,133 |
Total assets, end of period | 9,796 | 11,609 |
Brazil [Member] | ' | ' |
Segment information identified and reconciliation of segment information to total consolidated information [Abstract] | ' | ' |
Revenues | 23,028 | 25,090 |
Cost of goods sold | 22,028 | 22,705 |
Gross profit | 1,000 | 2,385 |
Intersegment fees | ' | -347 |
Depreciation and amortization (in selling, general and administrative) | -756 | -859 |
Impairment of property | 0 | 0 |
Other operating expense | -4,442 | -4,496 |
Loss from operations | -4,198 | -3,317 |
Net loss attributable to RiceBran Technologies shareholders | -2,773 | -1,693 |
Interest expense | -1,984 | -1,166 |
Depreciation (in costs of goods sold) | -1,873 | -1,651 |
Purchases of property | 2,907 | 6,331 |
Segment information for selected balance sheet accounts [Abstract] | ' | ' |
Property, net, end of period | 17,672 | 19,690 |
Goodwill, end of period | 4,139 | 4,773 |
Intangible assets, net, end of period | 672 | 1,442 |
Total assets, end of period | $28,743 | $32,196 |
FAIR_VALUE_MEASUREMENT_Details
FAIR VALUE MEASUREMENT (Details) (USD $) | 12 Months Ended | |||
Dec. 31, 2013 | Dec. 31, 2012 | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Fair value of convertible debt's excess value over carrying value | $300,000 | ' | ||
Fair values by input hierarchy of items measured at fair value on a recurring basis [Abstract] | ' | ' | ||
Total liabilities at fair value | 6,200,000 | ' | ||
Fair values by input hierarchy of items measured at fair value on a nonrecurring basis [Abstract] | ' | ' | ||
Impairment losses | 300,000 | 1,069,000 | ||
Recurring [Member] | ' | ' | ||
Fair values by input hierarchy of items measured at fair value on a recurring basis [Abstract] | ' | ' | ||
Total liabilities at fair value | -1,685,000 | -6,719,000 | ||
Nonrecurring [Member] | ' | ' | ||
Fair values by input hierarchy of items measured at fair value on a nonrecurring basis [Abstract] | ' | ' | ||
Property, end | 394,000 | [1] | 1,058,000 | [1] |
Impairment losses | 300,000 | [1] | 1,069,000 | [1] |
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 | ||
Level 1 [Member] | Nonrecurring [Member] | ' | ' | ||
Fair values by input hierarchy of items measured at fair value on a nonrecurring basis [Abstract] | ' | ' | ||
Property, end | 0 | [1] | 0 | [1] |
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 | ||
Level 2 [Member] | Nonrecurring [Member] | ' | ' | ||
Fair values by input hierarchy of items measured at fair value on a nonrecurring basis [Abstract] | ' | ' | ||
Property, end | 0 | [1] | 0 | [1] |
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 | -1,685,000 | -6,719,000 | ||
Level 3 [Member] | Nonrecurring [Member] | ' | ' | ||
Fair values by input hierarchy of items measured at fair value on a nonrecurring basis [Abstract] | ' | ' | ||
Property, end | 394,000 | [1] | 1,058,000 | [1] |
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 | -1,685,000 | [2] | -4,520,000 | [2] |
Fair value assumptions [Abstract] | ' | ' | ||
Expected volatility (in hundredths) | 107.00% | 93.00% | ||
Derivative warrant liability [Member] | Recurring [Member] | Minimum [Member] | ' | ' | ||
Fair value assumptions [Abstract] | ' | ' | ||
Risk-free interest rate (in hundredths) | 0.10% | 0.10% | ||
Derivative warrant liability [Member] | Recurring [Member] | Maximum [Member] | ' | ' | ||
Fair value assumptions [Abstract] | ' | ' | ||
Risk-free interest rate (in hundredths) | 0.60% | 0.70% | ||
Derivative warrant liability [Member] | Recurring [Member] | Weighted Average [Member] | ' | ' | ||
Fair value assumptions [Abstract] | ' | ' | ||
Risk-free interest rate (in hundredths) | 0.50% | 0.60% | ||
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 | [2] | 0 | [2] |
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 | [2] | 0 | [2] |
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 | -1,685,000 | [2] | -4,520,000 | [2] |
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 | ' | -2,199,000 | [3] | |
Fair value assumptions [Abstract] | ' | ' | ||
Expected volatility (in hundredths) | ' | 93.00% | ||
Derivative conversion liability [Member] | Recurring [Member] | Minimum [Member] | ' | ' | ||
Fair value assumptions [Abstract] | ' | ' | ||
Risk-free interest rate (in hundredths) | ' | 0.20% | ||
Derivative conversion liability [Member] | Recurring [Member] | Maximum [Member] | ' | ' | ||
Fair value assumptions [Abstract] | ' | ' | ||
Risk-free interest rate (in hundredths) | ' | 0.30% | ||
Derivative conversion liability [Member] | Recurring [Member] | Weighted Average [Member] | ' | ' | ||
Fair value assumptions [Abstract] | ' | ' | ||
Risk-free interest rate (in hundredths) | ' | 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 | [3] | |
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 | [3] | |
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 | ' | ($2,199,000) | [3] | |
[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] | 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, 2013 December 31, 2012 Risk-free interest rate 0.1% - 0.6% 0.1% - 0.7% (0.5% weighted average) (0.6% weighted average) Expected volatility 107% 93% | |||
[3] | 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) (Recurring [Member], USD $) | 12 Months Ended | |||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | ||
Changes in level 3 items measured at fair value on a recurring basis [Roll Forward] | ' | ' | ||
Fair Value as of Beginning of Period | ($6,719) | ($1,296) | ||
Total Realized and Unrealized Gains (Losses) | -1,030 | [1] | 5,420 | [1] |
Issuance of New Instruments | -1,173 | -11,449 | ||
Net Transfers (Into) Out of Level 3 | 7,237 | 606 | ||
Fair Value, at End of Period | -1,685 | -6,719 | ||
Change in Unrealized Gains (Losses) on Instruments Still Held | -372 | 5,692 | ||
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 | -1,296 | ||
Total Realized and Unrealized Gains (Losses) | -950 | [1] | 3,048 | [1] |
Issuance of New Instruments | -575 | -6,983 | ||
Net Transfers (Into) Out of Level 3 | 4,360 | [2] | 711 | [3] |
Fair Value, at End of Period | -1,685 | -4,520 | ||
Change in Unrealized Gains (Losses) on Instruments Still Held | -372 | 3,320 | ||
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 | 0 | ||
Total Realized and Unrealized Gains (Losses) | -80 | [1] | 2,372 | [1] |
Issuance of New Instruments | -598 | -4,466 | ||
Net Transfers (Into) Out of Level 3 | 2,877 | [4] | -105 | [5] |
Fair Value, at End of Period | 0 | -2,199 | ||
Change in Unrealized Gains (Losses) on Instruments Still Held | ' | $2,372 | ||
[1] | Included in change in fair value of derivative warrant and conversion liabilities in our consolidated statements of operations. | |||
[2] | Represents fair value of warrants when cancelled in connection with the Exchange. | |||
[3] | Represents transfers to equity as a result of a holder exercising a warrant. | |||
[4] | Represents $2.8 million fair value of conversion liabilities when eliminated in connection with the Exchange and $0.1 million as a result of conversions of debt. | |||
[5] | Represents an adjustment to loss on extinguishment as a result of issuing a replacement senior convertible debenture. |
HN_ACQUISITION_Details
H&N ACQUISITION (Details) (H and N [Member], Subsequent Event [Member], USD $) | 12 Months Ended |
In Millions, except Per Share data, unless otherwise specified | Dec. 31, 2013 |
Business Acquisition [Line Items] | ' |
Amount of outstanding shares purchased | $2 |
Amount payable through promissory note | $3.30 |
Promissory note expiration date | '2015 |
Number of trading days | '30 days |
Additional increase in annual interest rate after January 2016 | 10.00% |
Period of employment contract | '5 years |
Minimum [Member] | ' |
Business Acquisition [Line Items] | ' |
Annual interest rate | 1.00% |
Shares of common stock | $6 |
Maximum [Member] | ' |
Business Acquisition [Line Items] | ' |
Annual interest rate | 5.00% |
Shares of common stock | $12 |