Document_And_Entity_Informatio
Document And Entity Information (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Feb. 14, 2014 | Jun. 30, 2013 | |
Document and Entity Information [Abstract] | ' | ' | ' |
Entity Registrant Name | 'INTERNET PATENTS CORP | ' | ' |
Document Type | '10-K | ' | ' |
Current Fiscal Year End Date | '--12-31 | ' | ' |
Entity Common Stock, Shares Outstanding | ' | 7,751,952 | ' |
Entity Public Float | ' | ' | $13,578,000 |
Amendment Flag | 'false | ' | ' |
Entity Central Index Key | '0001077370 | ' | ' |
Entity Current Reporting Status | 'Yes | ' | ' |
Entity Voluntary Filers | 'No | ' | ' |
Entity Filer Category | 'Smaller Reporting Company | ' | ' |
Entity Well-known Seasoned Issuer | 'No | ' | ' |
Document Period End Date | 31-Dec-13 | ' | ' |
Document Fiscal Year Focus | '2013 | ' | ' |
Document Fiscal Period Focus | 'FY | ' | ' |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Current assets: | ' | ' |
Cash and cash equivalents | $30,113 | $31,068 |
Short-term investments | 249 | 1,497 |
Restricted cash equivalents and short-term investments | 1,000 | 1,000 |
Prepaid expenses and other current assets | 144 | 169 |
Total current assets | 31,506 | 33,734 |
Property and equipment, net | 1 | 32 |
Other assets | 29 | 27 |
Total assets | 31,536 | 33,793 |
Current liabilities: | ' | ' |
Accounts payable | 220 | 234 |
Accrued expenses | 253 | 346 |
Total current liabilities | 473 | 580 |
Accrued lease obligation, non-current | 444 | ' |
Income tax liability | 101 | 101 |
Other liabilities | 45 | ' |
Total liabilities | 1,063 | 681 |
Convertible preferred stock, $0.001 par value. Authorized: 5,000 shares; no shares issued or outstanding at 2013 and 2012 | 0 | 0 |
Common stock, $0.001 par value. Authorized: 25,000 shares; 11,033 shares issued and 7,752 shares outstanding at 2013 and 2012 | 11 | 11 |
Paid-in capital | 221,750 | 221,726 |
Treasury stock, 3,281 shares at 2013 and 2012 | -6,788 | -6,788 |
Accumulated deficit | -184,500 | -181,837 |
Total stockholders’ equity | 30,473 | 33,112 |
Total liabilities and stockholders’ equity | $31,536 | $33,793 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parentheticals) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
Convertible preferred stock, par value (in Dollars per share) | $0.00 | $0.00 |
Convertible preferred stock, shares authorized | 5,000,000 | 5,000,000 |
Convertible preferred stock, shares issued | 0 | 0 |
Convertible preferred stock, shares outstanding | 0 | 0 |
Common stock, par value (in Dollars per share) | $0.00 | $0.00 |
Common stock, shares authorized | 25,000,000 | 25,000,000 |
Common stock, shares issued | 11,033,000 | 7,752,000 |
Common stock, shares outstanding | 11,033,000 | 7,752,000 |
Treasury stock, shares | 3,281,000 | 3,281,000 |
Consolidated_Statements_of_Ope
Consolidated Statements of Operations (USD $) | 12 Months Ended | |
Share data in Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Revenues | $0 | $0 |
Operating expenses: | ' | ' |
General and administrative | 2,688,000 | 2,959,000 |
Total operating expenses | 2,688,000 | 2,959,000 |
Loss from operations | -2,688,000 | -2,959,000 |
Other income | 25,000 | 172,000 |
Net loss before income taxes | -2,663,000 | -2,787,000 |
Income tax benefit | 0 | -61,000 |
Net loss | ($2,663,000) | ($2,726,000) |
Net loss per share: | ' | ' |
Basic and diluted (in Dollars per share) | ($0.34) | ($0.36) |
Basic and diluted (in Shares) | 7,752 | 7,659 |
Consolidated_Statements_of_Com
Consolidated Statements of Comprehensive Loss (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Net loss | ($2,663) | ($2,726) |
Comprehensive loss | ($2,663) | ($2,726) |
Consolidated_Statements_Of_Sto
Consolidated Statements Of Stockholders’ Equity (USD $) | Common Stock [Member] | Additional Paid-in Capital [Member] | Treasury Stock [Member] | Retained Earnings [Member] | Total |
In Thousands | |||||
Balances at Dec. 31, 2011 | $10 | $216,401 | ($6,589) | ($140,499) | $69,323 |
Balances (in Shares) at Dec. 31, 2011 | 9,863 | ' | -3,256 | ' | ' |
Issuance of shares through employee stock purchase plan and stock option plan | 1 | 5,325 | ' | ' | 5,326 |
Issuance of shares through employee stock purchase plan and stock option plan (in Shares) | 1,170 | ' | ' | ' | ' |
Cash distribution, $5 per common share | ' | ' | ' | -38,612 | -38,612 |
Repurchase of shares | ' | ' | -199 | ' | -199 |
Repurchase of shares (in Shares) | ' | ' | -25 | ' | ' |
Net loss | ' | ' | ' | -2,726 | -2,726 |
Balances at Dec. 31, 2012 | 11 | 221,726 | -6,788 | -181,837 | 33,112 |
Balances (in Shares) at Dec. 31, 2012 | 11,033 | ' | -3,281 | ' | ' |
Share-based compensation | ' | 24 | ' | ' | 24 |
Net loss | ' | ' | ' | -2,663 | -2,663 |
Balances at Dec. 31, 2013 | $11 | $221,750 | ($6,788) | ($184,500) | $30,473 |
Balances (in Shares) at Dec. 31, 2013 | 11,033 | ' | -3,281 | ' | ' |
Consolidated_Statements_Of_Sto1
Consolidated Statements Of Stockholders’ Equity (Parentheticals) (USD $) | 0 Months Ended | 12 Months Ended |
Jan. 04, 2012 | Dec. 31, 2012 | |
Cash distribution, per common share | $5 | $5 |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Cash flows from operating activities: | ' | ' |
Net loss | ($2,663,000) | ($2,726,000) |
Adjustments to reconcile net loss to net cash used in operating activities: | ' | ' |
Share-based compensation | 24,000 | ' |
Depreciation and amortization | 14,000 | 20,000 |
Interest income on short-term investments | 25,000 | 6,000 |
Impairment of long-lived assets | 14,000 | ' |
Loss on disposal of equipment | 3,000 | ' |
Loss on sublease | 637,000 | ' |
Net changes in operating assets and liabilities: | ' | ' |
Prepaid expenses and other current assets | 25,000 | 1,205,000 |
Other assets | -2,000 | 1,000,000 |
Accounts payable | -14,000 | -3,151,000 |
Accrued expenses and other current liabilities | -286,000 | -195,000 |
Income taxes payable | ' | -644,000 |
Other liabilities | 45,000 | ' |
Net cash used in operating activities | -2,203,000 | -4,485,000 |
Cash flows from investing activities: | ' | ' |
Purchases of short-term investments | -1,494,000 | -2,229,000 |
Redemptions of short-term investments | 2,742,000 | 1,954,000 |
Purchases of restricted cash equivalents and short-term investments | -1,000,000 | -1,000,000 |
Redemptions of restricted short-term investments | 1,000,000 | ' |
Purchases of property and equipment | ' | -10,000 |
Change in interest receivable | ' | -3,000 |
Net cash provided by(used in) investing activities | 1,248,000 | -1,288,000 |
Cash flows from financing activities: | ' | ' |
Proceeds from issuance of common stock through stock plans, net of repurchases | ' | 5,127,000 |
Distribution paid | ' | -38,612,000 |
Net cash used in financing activities | ' | -33,485,000 |
Net decrease in cash and cash equivalents | -955,000 | -39,258,000 |
Cash and cash equivalents, beginning of year | 31,068,000 | 70,326,000 |
Cash and cash equivalents, end of year | 30,113,000 | 31,068,000 |
Treasury Stock (In January, 2012 25,000 shares were tendered to the Company from a non-employee board of director at a value of $7.95 per share). | ' | $199,000 |
Consolidated_Statements_of_Cas1
Consolidated Statements of Cash Flows (Parentheticals) (USD $) | 12 Months Ended |
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2012 |
Treasury Stock, shares tendered to the Company | 25,000 |
Treasury Stock, value per share (in Dollars per share) | $7.95 |
Note_1_Business_of_Internet_Pa
Note 1 - Business of Internet Patents Corporation | 12 Months Ended |
Dec. 31, 2013 | |
Disclosure Text Block [Abstract] | ' |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | ' |
1. Business of Internet Patents Corporation | |
Internet Patents Corporation (“IPC”) was originally incorporated in California in February 1995 and re-incorporated in Delaware in October 1996, and is headquartered outside Sacramento, California. IPC’s headquarters mailing address is 101 Parkshore Drive, Suite 100, Folsom, CA 95630, and the telephone number at that location is (916) 932-2860. The principal IPC website is www.internetpatentscorporation.net. | |
From its inception through December 21, 2011, IPC operated an online insurance marketplace that electronically matched consumers and providers of automobile, property, health, term life, and small business insurance. IPC discontinued this business in connection with the sale of substantially all of its assets (the “Disposition”) to Bankrate, Inc. (“Bankrate”) in a transaction that closed on December 21, 2011 (“Disposition Date”). | |
On the Disposition Date and in connection with the Disposition, the Company changed its name from InsWeb Corporation (“InsWeb”) to Internet Patents Corporation. | |
As a result of the Disposition, we no longer conduct the insurance lead generation business, and have agreed not to reenter that business for a period of ten years. We intend to develop and operate a business that licenses and otherwise enforces our patented technologies. Our future revenues are expected to consist entirely of the royalties from licensing the patents and damages for past infringement. IPC cannot estimate what revenues, if any, it will receive in 2014. In addition to general and administrative expenses, including salaries and benefits, rent and utilities, we expect to incur expenses associated with patent infringement litigation. |
Note_2_Summary_of_Significant_
Note 2 - Summary of Significant Accounting Policies | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Accounting Policies [Abstract] | ' | ||||||||
Significant Accounting Policies [Text Block] | ' | ||||||||
2. Summary of Significant Accounting Policies | |||||||||
Basis of presentation | |||||||||
The consolidated financial statements include the accounts of IPC and its wholly-owned subsidiaries, Goldrush Insurance Services, Inc. and InsWeb Insurance Services, Inc. All significant inter-company accounts and transactions have been eliminated in the consolidated financial statements. | |||||||||
IPC recognizes in the financial statements the effects of all subsequent events that provide additional evidence about conditions that existed at the date of the balance sheet. For non-recognized subsequent events that must be disclosed to keep the financial statements from being misleading, an entity is required to disclose the nature of the event as well as an estimate of its financial effect, or a statement that such an estimate cannot be made. | |||||||||
Use of estimates | |||||||||
The preparation of financial statements in conformity with United States generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. | |||||||||
Cash, cash equivalents and short-term investments | |||||||||
IPC considers all highly liquid investments with original maturities of three months or less at the date of purchase to be cash equivalents. Investments with maturities greater than three months at the date of purchase but less than one year are classified as short-term investments. Cash, cash equivalents and short-term investments are stated at cost, which approximates fair value, given the relatively short duration of the underlying securities. | |||||||||
Revenue recognition | |||||||||
The Company has not yet determined the methodology it will use for recognizing revenues from royalties for licensing its patents or from damages for past infringement, as no agreements related to these types of revenue streams had been entered into as of December 31, 2013. | |||||||||
Property and equipment and other long-lived assets | |||||||||
Property and equipment are stated at cost less accumulated depreciation. Depreciation on computer and office equipment, furniture and fixtures and purchased software is calculated using the straight-line method over the estimated useful lives of the assets, generally two to five years. Amortization on leasehold improvements is calculated using the straight-line method over the estimated useful lives of the improvements or the remaining term of the lease, whichever is shorter. Expenditures for maintenance and repairs are charged to expense as incurred. | |||||||||
IPC evaluates the recoverability of its long-lived assets, including intangible assets subject to amortization in accordance with Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC") Topic 360, Property, Plant and Equipment. ASC 360 requires the recognition of impairment losses related to long-lived assets in the event the net carrying value of such assets exceeds fair value. IPC assesses the impairment of its long-lived assets annually or when events or changes in circumstances indicate that the carrying value of an asset may not be recoverable. An impaired asset charge of $14,000 related to leasehold improvements at IPC’s former headquarters in Rancho Cordova, California was recognized for the year ended December 31, 2013. No such indicators of impairment were identified as of December 31, 2012. | |||||||||
Concentration of risk—credit | |||||||||
Financial instruments that potentially subject IPC to concentrations of credit risk, as defined by ASC 825, “Financial Instruments,” consist principally of cash, cash equivalents and short-term investments. IPC deposits its cash, cash equivalents and short-term investments with various domestic financial institutions. Such deposits may exceed federal deposit insurance limits. | |||||||||
IPC’s cash equivalents and investments consist of diversified investment grade securities. IPC’s investment policy limits the amount of credit exposure to investments in any one issue, and IPC believes no significant concentration of credit risk exists with respect to these investments. | |||||||||
During the years ended December 31, 2013 and 2012, we had no customers or accounts receivable. Pursuant to the terms of the asset purchase agreement, Bankrate was required to pay us amounts it received from customers for the insurance lead generation business we conducted prior to the Disposition Date. The amount that IPC received from Bankrate in 2012 for accounts receivable purchased from IPC was approximately $67,000. No payments were received during 2013, and no additional payments in the future are expected. | |||||||||
Share-Based Payments | |||||||||
IPC accounts for share-based compensation in accordance with ASC 718 “Compensation – Stock Compensation.” Under the provisions of ASC 718, share-based compensation cost is generally estimated at the grant date based on the award’s fair value as calculated by the Black-Scholes-Merton (BSM) option-pricing model. The BSM option-pricing model requires various highly judgmental assumptions including expected option life, volatility, and forfeiture rates. If any of the assumptions used in the BSM option-pricing model change significantly, share-based compensation expense may differ materially in the future from that recorded in the current period. Generally, compensation cost is recognized over the requisite service period. However, to the extent performance conditions affect the vesting of an award, compensation cost will be recognized only if the performance condition is satisfied. Compensation cost will not be recognized, and any previously recognized compensation cost will be reversed, if the performance condition is not satisfied. | |||||||||
IPC recognizes compensation costs for stock-based payments to employees and its Board of Directors, based on their grant-date fair value on a straight-line approach over the service period for which such awards are expected to vest. The fair value of stock options granted pursuant to the IPC’s 1997 and 2008 Stock Option Plans and Employee Stock Purchase Plan (“ESPP”), respectively, is determined using the BSM option-pricing model. The determination of fair value is affected by IPC’s stock price, as well as assumptions regarding subjective and complex variables such as expected employee exercise behavior and our expected stock price volatility over the expected term of the award. Generally, IPC’s assumptions are based on historical information and judgment is required to determine if historical trends may be indicators of future outcomes. The key assumptions for the BSM option-pricing model calculation are: | |||||||||
Expected term. The expected term represents the period that IPC’s share-based awards are expected to be outstanding. IPC’s expected term was determined based on historical experience of similar awards, giving consideration to the contractual terms of the share-based awards, vesting schedules and expectations of future employee behavior. | |||||||||
Expected volatility. IPC uses the trading history of its common stock in determining an estimated volatility factor when using the Black-Scholes option-pricing formula to determine the fair value of options granted. | |||||||||
Risk-free interest rate. IPC bases the risk-free interest rate used in the BSM option-pricing model on the implied yield currently available on U.S. Treasury zero-coupon issues with the same or substantially equivalent remaining term. | |||||||||
Expected dividend. Historically IPC has not declared or paid cash or stock dividends. Therefore, IPC uses a zero value for the expected dividend value factor when using the Black-Scholes option-pricing formula to determine the fair value of options granted. | |||||||||
Estimated forfeitures. ASC 718 requires forfeitures to be estimated at the time of grant and revised, if necessary, in subsequent periods if actual forfeitures differ from initial estimates. When estimating forfeitures, IPC considers historical voluntary and involuntary termination behavior as well as analysis of actual option forfeitures. | |||||||||
Employee stock-based compensation expense is calculated based on awards ultimately expected to vest and is reduced for estimated forfeitures. Forfeitures are revised, if necessary, in subsequent periods if actual forfeitures differ from those estimates and an adjustment to stock-based compensation expense will be recognized at that time. | |||||||||
Changes to our underlying stock price, our assumptions used in the BSM option-pricing model calculation and the IPC’s forfeiture rate, as well as future equity granted or assumed through acquisitions could significantly impact the compensation expense we recognize. | |||||||||
In conjunction with the Disposition, all of the Company’s outstanding and unvested stock options vested. As of December 31, 2013 and 2012, the Company had no outstanding unrecognized stock-based compensation. | |||||||||
Income taxes | |||||||||
Under the asset and liability method prescribed under ASC 740, “Income Taxes,” IPC recognizes deferred tax assets and liabilities for the future tax consequences attributable to differences between financial statement carrying amounts of assets and liabilities and their respective tax bases. 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 realized or settled. | |||||||||
Net income per share | |||||||||
Basic and diluted net income per share is computed using the weighted-average number of shares of common stock outstanding. Diluted earnings per share is a measure of the potential dilution that would occur if stock options had been exercised. | |||||||||
The following table reconciles the denominator used to calculate basic and diluted net loss per share of common stock: | |||||||||
Year Ended December 31, | |||||||||
(In thousands) | 2013 | 2012 | |||||||
Numerator for basic and diluted net loss per share: | |||||||||
Net loss available to common shareholders: | $ | (2,663 | ) | $ | (2,726 | ) | |||
Denominator for net loss per share: | |||||||||
Basic and diluted—weighted average shares of common stock outstanding | 7,752 | 7,659 | |||||||
Potentially dilutive securities are not included in the diluted net income calculation, because the Company had a net loss from operations, net of tax. The antidilutive securities that are not included in the calculation above are employee stock options to purchase shares totaling 371 as of December 31, 2013 and 673 as of December 31, 2012. | |||||||||
Recently Issued Accounting Pronouncements | |||||||||
In February 2013, the FASB issued guidance requiring entities to provide information about the amounts reclassified out of accumulated other comprehensive income (“AOCI”) by component. In addition, it requires entities to present, either on the face of the statement where net income is presented or in the notes, significant amounts reclassified out of AOCI by the respective line items of net income if the amount reclassified is required under GAAP to be reclassified to net income in its entirety in the same reporting period. This guidance is effective prospectively for annual and interim reporting periods beginning after December 15, 2012, with early adoption permitted. The adoption of this guidance did not have a material impact on the financial statements. | |||||||||
In July 2013, the FASB issued an amendment to the accounting guidance related to the financial statement presentation of an unrecognized tax benefit when a net operating loss carryforward, a similar tax loss or a tax credit carryforward exists. The guidance requires an unrecognized tax benefit to be presented as a decrease in a deferred tax asset where a net operating loss, a similar tax loss, or a tax credit carryforward exists and certain criteria are met. This guidance is effective prospectively for annual and interim reporting periods beginning after December 15, 2013. The Company is currently evaluating the potential impact of the adoption of this guidance on its consolidated financial statements. |
Note_3_ShareBased_Payments
Note 3 - Share-Based Payments | 12 Months Ended | ||||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | ||||||||||||||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | ' | ||||||||||||||||||||||||||||
3. Share-Based Payments | |||||||||||||||||||||||||||||
In July 1997, IPC authorized the 1997 Stock Option Plan (the “Option Plan”) and the Senior Executive Option Plan (the “Executive Plan”). Under the Option Plan, the Board of Directors may issue incentive stock options to employees of IPC and its subsidiaries and may also issue nonqualified stock options to employees, officers, directors, independent contractors and consultants of IPC and its subsidiaries. Under the Executive Plan, the Board of Directors may issue nonqualified stock options to employees, officers and directors of IPC and its subsidiaries. | |||||||||||||||||||||||||||||
In May 2003, the Option Plan was amended, with stockholder approval, to provide that each director would receive a fully-vested option to purchase 5,000 shares of common stock on July 1st (or the first business day thereafter) of each year in which the director remains in office. Pursuant to the Option Plan, on July 1, 2013 fully vested options to purchase 5,000 shares of common stock were granted to each of the three non-employee directors with an exercise price of $3.56. The Board of Directors agreed to forgo their equity grants in 2012. | |||||||||||||||||||||||||||||
The Option Plan provided for an automatic annual increase in the share reserve, to be effective on the first day of each fiscal year, by a number of shares equal to 5% of the number of common shares outstanding as of the last day of the preceding fiscal year. With the expiration of the 1997 Stock Option Plan and Senior Executive Option Plan, in July 2007, IPC’s Board of Directors authorized and shareholders approved the 2008 Stock Option Plan in February 2008, and options to purchase 1,500,000 shares of common stock were authorized under this plan. These options have a contractual term ranging from two to five years. | |||||||||||||||||||||||||||||
Options granted under the above plans are priced at the common stock’s fair market value on the date of grant and generally vest ratably over the requisite service period. No option grants were awarded to employees in either 2012 or 2013. | |||||||||||||||||||||||||||||
The Company has reserved common shares for issuance in conjunction with the issuance of options underlying the Option Plan and the Executive Plan. | |||||||||||||||||||||||||||||
Options outstanding and currently exercisable by exercise price at December 31, 2013 are as follows: | |||||||||||||||||||||||||||||
Options Outstanding | Options Currently Exercisable | ||||||||||||||||||||||||||||
Exercise Prices | Number | Weighted Average | Number | Weighted Average | |||||||||||||||||||||||||
Outstanding | Remaining Contractual | Outstanding | Exercise Price | ||||||||||||||||||||||||||
Life (in years) | |||||||||||||||||||||||||||||
(in thousands, except contractual life and exercise price amounts) | |||||||||||||||||||||||||||||
$ | 3.25 | - | $5.10 | 28 | 2.95 | 28 | $ | 3.79 | |||||||||||||||||||||
$ | 5.25 | - | $5.25 | 2 | 1.25 | 2 | 5.25 | ||||||||||||||||||||||
$ | 7 | - | $7.00 | 31 | 1.96 | 31 | 7 | ||||||||||||||||||||||
$ | 7.22 | - | $7.70 | 33 | 2.04 | 33 | 7.62 | ||||||||||||||||||||||
94 | 2.27 | 94 | $ | 6.25 | |||||||||||||||||||||||||
Share-based compensation expense resulting from stock options and the Purchase Plan for the years ended December 31, 2013 and 2012 were included in income in the amount of $24,000 and $0, respectively. There was no unrecognized compensation expense related to options as of the year ended December 31, 2013. | |||||||||||||||||||||||||||||
The fair value of share-based awards granted pursuant to IPC’s stock option plans was estimated using the BSM option-pricing model with the following weighted average assumptions for the years ended December 31, 2013 and 2012: | |||||||||||||||||||||||||||||
Year Ended December 31 | |||||||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||||||
Expected term (in years) | 3 | — | |||||||||||||||||||||||||||
Expected volatility | 0.69 | — | |||||||||||||||||||||||||||
Risk-free interest rate | 0.65 | % | — | % | |||||||||||||||||||||||||
Expected dividend | — | — | |||||||||||||||||||||||||||
Weighted-average fair value at grant date | $ | 1.61 | $ | — | |||||||||||||||||||||||||
Activity under all of IPC’s stock option plans is as follows: | |||||||||||||||||||||||||||||
(in thousands, except exercise price amounts) | Shares Available | Shares | Weighted Average | ||||||||||||||||||||||||||
for Grant | Outstanding | Exercise Price | |||||||||||||||||||||||||||
Balances, December 31, 2012 | 673 | 231 | $ | 8.12 | |||||||||||||||||||||||||
Additional shares reserved | 155 | — | — | ||||||||||||||||||||||||||
Granted | (15 | ) | 15 | 3.56 | |||||||||||||||||||||||||
Canceled/forfeited | 152 | (152 | ) | 8.54 | |||||||||||||||||||||||||
Balances, December 31, 2013 | 965 | 94 | $ | 5.42 | |||||||||||||||||||||||||
There were no unvested options at December 31, 2013 and December 31, 2012. | |||||||||||||||||||||||||||||
The aggregate intrinsic values of options outstanding and exercisable at December 31, 2013 and 2012 were $0 and $3,000, respectively. Aggregate intrinsic value represents the total intrinsic value (the aggregate difference between the closing stock price of IPC’s common stock of $3.12 and $3.55 on December 31, 2013 and 2012, respectively and the exercise price for in-the-money options) that would have been received by the option holders if all options had been exercised on December 31, 2013 and 2012, respectively. The total intrinsic value of options exercised for the years ended December 31, 2013 and 2012 were $0 and $4,174,000, respectively. The weighted-average remaining contractual terms of options outstanding and exercisable at December 31, 2013 and 2012 were 2.27 and 1.83 years, respectively. | |||||||||||||||||||||||||||||
Cash received from stock option exercises and purchases under the Purchase Plan for December 31, 2013 and 2012 were $0 and $5,326,000, respectively. | |||||||||||||||||||||||||||||
In January 2012, one of the Company’s Board Members exercised 42,416 options at an exercise price of $4.94 per share. In a cashless exercise, 25,000 shares were tendered to the Company in satisfaction of the exercise price of the options, at a value of $7.95 per share, based on the closing price of the Company's common stock on the date of exercise. The 25,000 shares tendered have been accounted for by the Company as treasury stock in the accompanying consolidated balance sheet. |
Note_4_Fair_Value_Measurements
Note 4 - Fair Value Measurements | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||
Fair Value Disclosures [Text Block] | ' | ||||||||||||||||
4. Fair Value Measurements | |||||||||||||||||
The following table presents the assets and liabilities measured at fair value on a recurring basis as of December 31, 2013 (in thousands): | |||||||||||||||||
December 31, | Level 1 | Level 2 | Level 3 | ||||||||||||||
2013 | |||||||||||||||||
Assets: | |||||||||||||||||
Cash equivalents | $ | 29,315 | $ | 29,315 | $ | — | $ | — | |||||||||
Short-term investments | 249 | 249 | — | — | |||||||||||||
Restricted cash equivalents | 1,000 | 1,000 | |||||||||||||||
Total assets at fair value | $ | 30,564 | $ | 30,564 | $ | — | $ | — | |||||||||
The following table presents the financial assets and liabilities measured at fair value on a recurring basis as of December 31, 2012 (in thousands): | |||||||||||||||||
December 31, | Level 1 | Level 2 | Level 3 | ||||||||||||||
2012 | |||||||||||||||||
Assets: | |||||||||||||||||
Cash equivalents | $ | 44 | $ | 44 | $ | — | $ | — | |||||||||
Short-term investments | 1,497 | 1,497 | — | — | |||||||||||||
Restricted short-term investments | 1,000 | 1,000 | |||||||||||||||
Total assets at fair value | $ | 2,541 | $ | 2,541 | $ | — | $ | — | |||||||||
Cash equivalents, short-term investments and restricted cash equivalents and short-term investments include certificates of deposit, money market deposit accounts and money funds. The carrying value of these cash equivalents, short-term investments and restricted cash equivalents and restricted short-term investments approximate fair value. For these securities, IPC uses quoted prices in active markets for identical assets to determine their fair value and are considered to be Level 1 instruments. |
Note_5_Consolidated_Financial_
Note 5 - Consolidated Financial Statement Details | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Disclosure Text Block Supplement [Abstract] | ' | ||||||||
Additional Financial Information Disclosure [Text Block] | ' | ||||||||
5. Consolidated Financial Statement Details | |||||||||
Cash, cash equivalents and short-term investments | |||||||||
Cash and cash equivalents consist of the following (in thousands): | |||||||||
December 31, | |||||||||
2013 | 2012 | ||||||||
Cash | $ | 798 | $ | 31,024 | |||||
Money market deposit accounts | 28,022 | — | |||||||
Money market funds | 1,293 | 44 | |||||||
$ | 30,113 | $ | 31,068 | ||||||
IPC accounts for its short-term investments under ASC 320, “Investments - Debt and Equity Securities”. Management determines the appropriate classification of its debt securities at the time of purchase and reevaluates such designation as of each balance sheet date. IPC had short-term investments of $0.2 million at December 31, 2013 and $1.5 million at December 31, 2012. | |||||||||
At December 31, 2013, the contractual maturities of IPC’s investment portfolio are less than one year. The gains and losses from the sale of available-for-sale securities have not been significant to date. | |||||||||
Restricted cash equivalents and restricted short-term investments | |||||||||
As of December 31, 2013 and December 31, 2012, restricted cash equivalents and restricted short-term investments consisted of $1.0 million each, respectively. The $1.0 million is used as collateral for a letter of credit of the same amount, which secures the Company’s obligations under the office space lease for IPC’s former corporate headquarters. | |||||||||
Prepaid expenses and other current assets | |||||||||
Prepaid expenses and other current assets consist of the following (in thousands): | |||||||||
December 31, | |||||||||
2013 | 2012 | ||||||||
Prepaid insurance | $ | 84 | $ | 60 | |||||
Prepaid rent | 41 | 39 | |||||||
Prepaid taxes | 16 | 50 | |||||||
Other | 3 | 20 | |||||||
$ | 144 | $ | 169 | ||||||
Property and equipment | |||||||||
Property and equipment, net, consists of the following (in thousands): | |||||||||
December 31, | |||||||||
2013 | 2012 | ||||||||
Computer and office equipment | $ | 35 | $ | 35 | |||||
Furniture and fixtures | 360 | 365 | |||||||
Leasehold improvements | 23 | 23 | |||||||
Software | 23 | 24 | |||||||
441 | 447 | ||||||||
Less accumulated depreciation | (440 | ) | (415 | ) | |||||
$ | 1 | $ | 32 | ||||||
Depreciation expense was $14,000 and $20,000 for the years ended December 31, 2013 and 2012, respectively. | |||||||||
Accrued expenses | |||||||||
Accrued expenses consist of the following (in thousands): | |||||||||
December 31, | |||||||||
2013 | 2012 | ||||||||
Deferred rent | $ | — | $ | 226 | |||||
Accrued lease obligations (see Note 6) | 229 | 95 | |||||||
Other | 24 | 25 | |||||||
$ | 253 | $ | 346 | ||||||
During the year ended December 31, 2013, IPC discontinued using this facility and subleased the entire premises to an unrelated business for the remainder of IPC’s lease term. In evaluating our continuing lease obligations for this facility, IPC must make assumptions regarding the estimated future sublease income relative to this facility. These estimates and assumptions are affected by area-specific conditions such as new commercial development, market occupancy rates and future market prices. As a result of the current conditions in the real estate market where this IPC property is located and the inherent risks associated with its sub-lessee, the Company recorded a charge of $606,000 in the year ended December 31, 2013, representing the difference between IPC’s lease obligations and broker fees associated with this facility and the sub-lease income it expects to receive through February 2017, the expiration of our leasehold interest. Also included in the charge is an impaired asset for leasehold improvements of $14,000. The charge was offset by the unamortized portion of deferred rent, as rent expense was recognized on a straight-line base over the life of the lease. The Company recorded this charge in the statement of operations in general and administrative expenses. If this estimate or the related assumptions change in the future, IPC may be required to record a charge to increase its existing accrual. | |||||||||
In 2012, IPC subleased the entire facility to two unrelated entities for the remainder of IPC’s lease term, at a formerly occupied facility in San Francisco, California. In evaluating its continuing lease obligations, IPC must make assumptions regarding the estimated future sublease income relative to this facility. These estimates and assumptions are affected by area-specific conditions such as new commercial development, market occupancy rates and future market prices. As a result of the current conditions in the real estate market where this IPC property is located and the inherent risks associated with its sub-lessees, the Company recorded a charge of $95,000 in 2012, representing the difference between IPC’s lease obligations for this facility and sub-lease income it expects to receive, based on sub-leases entered into, for the duration of the lease. If this estimate or the related assumptions change in the future, IPC may be required to record a charge to increase its existing accrual. See also Note 6. |
Note_6_Commitments_and_Conting
Note 6 - Commitments and Contingencies | 12 Months Ended | ||||
Dec. 31, 2013 | |||||
Commitments and Contingencies Disclosure [Abstract] | ' | ||||
Commitments and Contingencies Disclosure [Text Block] | ' | ||||
6. Commitments and Contingencies | |||||
Leases | |||||
IPC has a non-cancelable 24 month lease through May 15, 2015 for approximately 800 square feet of office space in Folsom, California, which is currently IPC’s corporate headquarters. | |||||
IPC has a non-cancelable 5-year full-service lease for approximately 16,000 square feet of office space in a building that housed IPC’s headquarters until May 2013. The facility is located in Rancho Cordova, California. The lease includes negotiated annual increases in the monthly rental payments. IPC has two consecutive options to extend the term for five years, each at the then prevailing market rent. On April 16, 2013, IPC subleased this space for the remainder of IPC’s term. The monthly sublease rent is less than IPC’s rent obligation to the landlord. As of December 31, 2013, IPC is expected to receive $431,000 from the sub-lessee for the remainder of IPC’s lease. | |||||
IPC also leases approximately 10,000 square feet of office space in San Francisco, California under a lease expiring in September 2014. This facility is currently fully subleased to two tenants. As of December 31, 2013, IPC is expected to receive $77,000 from the two sub-lessees during the remainder of IPC’s lease. | |||||
Future minimum lease commitments as of December 31, 2013 are summarized as follows (in thousands): | |||||
Years ending December 31, | Future | ||||
minimum lease | |||||
commitments | |||||
2014 | $ | 466 | |||
2015 | 350 | ||||
2016 | 350 | ||||
2017 | 58 | ||||
Thereafter | — | ||||
$ | 1,224 | ||||
Rent expense, net of sub-lease income and amortization of accrued lease obligations, for the years ended December 31, 2013 and 2012 was $118,000 and $274,000, respectively. | |||||
Future minimum sub-lease payments expected to be received as of December 31, 2013 are summarized as follows (in thousands): | |||||
Years ending December 31, | Future | ||||
minimum sub- | |||||
lease | |||||
payments | |||||
2014 | $ | 213 | |||
2015 | 136 | ||||
2016 | 136 | ||||
2017 | 23 | ||||
$ | 508 | ||||
Note_7_Income_Taxes
Note 7 - Income Taxes | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||
Income Tax Disclosure [Text Block] | ' | ||||||||
7. Income Taxes | |||||||||
The components of the deferred tax assets and liabilities are presented below (in thousands): | |||||||||
December 31, | |||||||||
2013 | 2012 | ||||||||
Net operating loss carry forwards | $ | 48,133 | $ | 47,335 | |||||
Tax credit carry forwards | 981 | 981 | |||||||
Accruals and allowances | 296 | 90 | |||||||
Other | 46 | 162 | |||||||
Total deferred tax asset | 49,456 | 48,568 | |||||||
Less valuation allowance | (49,456 | ) | (48,568 | ) | |||||
Net deferred tax asset | $ | — | $ | — | |||||
Due to uncertainty surrounding the realization of the favorable tax attributes in future tax returns, IPC has recorded a valuation allowance against its deferred tax asset. The valuation allowance recorded for the year ended December 31, 2013 increased by $888,000 and for the year ended December 31, 2012 increased by $124,000. | |||||||||
The valuation allowance in both 2013 and 2012 includes $2.7 million related to excess tax benefits of stock option deductions prior to the adoption of ASC Topic 718. The benefits will increase additional paid-in capital when realized. | |||||||||
For tax return purposes, IPC had net operating loss carry forwards at December 31, 2013 of approximately $142.9 million and $64.4 million for federal income tax and state income tax purposes, respectively. Federal and state net operating loss carry forwards begin expiring in 2019 and 2014, respectively. IPC also had federal research and development credits of approximately $0.7 million which will begin expiring in 2018, and a federal alternative minimum tax credit of approximately $0.5 million, which does not expire. | |||||||||
IPC did not recognize any expense or benefit for the year ended December 31, 2013. IPC recognized $25,000 and $36,000 in current federal and state tax benefit, respectively, for the year ended December 31, 2012. | |||||||||
The effective tax rate for income taxes is different than the amount computed using the applicable statutory federal income tax rate with the difference for each year summarized below: | |||||||||
December 31, | |||||||||
2013 | 2012 | ||||||||
Federal tax at statutory rate | 34 | % | 34 | % | |||||
Share based compensation | (0.3 | )% | 43.2 | % | |||||
Contingent liability true-up | 0 | % | 14.7 | % | |||||
Other | (0.6 | )% | (0.3 | )% | |||||
Adjustment due to change in valuation allowance | (33.1 | )% | (89.4 | )% | |||||
(0.0 | )% | 2.2 | % | ||||||
In 2013 and 2012, the federal statutory rate is 34% as this is the rate at which the Company expects to realize its deferred tax assets in the future. | |||||||||
Under the asset and liability method prescribed under ASC 740, “Income Taxes,” IPC recognizes deferred tax assets and liabilities for the future tax consequences attributable to differences between financial statement carrying amounts of assets and liabilities and their respective tax bases. 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 realized or settled. | |||||||||
For those benefits to be recognized, a tax position must be more-likely-than-not to be sustained upon examination by taxing authorities. At December 31, 2013 and December 31, 2012, IPC had unrecognized tax benefits of approximately $0.3 million and $0.3 million, respectively ($0.1 million of which, if recognized, would affect IPC’s effective tax rate). IPC does not believe there will be any material changes in its unrecognized tax positions over the next twelve months. | |||||||||
A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows (in thousands): | |||||||||
2013 | 2012 | ||||||||
Balance at January 1 | $ | 300 | $ | 300 | |||||
Increase (decrease) related to prior year tax positions | — | — | |||||||
Increase (decrease) related to current year tax positions | — | — | |||||||
Settlements | — | — | |||||||
Reductions due to lapse of applicable statute of limitations | — | — | |||||||
Balance at December 31 | $ | 300 | $ | 300 | |||||
Interest and penalty costs related to unrecognized tax benefits, if any, are classified as a component of income tax expense. IPC did not recognize any interest and penalty expense related to unrecognized tax benefits for the years ended December 31, 2013 and 2012, due to immateriality. | |||||||||
IPC files income tax returns in the U.S. federal jurisdiction and various state jurisdictions. IPC is subject to U.S. federal and state examination for tax years 1999 through 2013, due to unutilized net operating losses and research credits. On July 11, 2013 the Company was informed by the Department of the Treasury that the 2011 tax year will be subject to examination. There have been no audit adjustments as of December 31, 2013. Although there can be no assurance about the ultimate outcome of any tax examination, management believes there will be no material impact on the Company's financial position or results of operations. |
Note_8_Other_Income
Note 8 - Other Income | 12 Months Ended |
Dec. 31, 2013 | |
Disclosure Text Block [Abstract] | ' |
Interest and Other Income [Text Block] | ' |
8. Other Income | |
The Company recognized interest income in 2013 and 2012 in the amount of $25,000 and $6,000, respectively. This represented interest earned on IPC’s investment portfolio of cash, cash equivalents and short-term investments. IPC expects that Other Income will consist entirely of returns received from its investment portfolio in the near future, which will be negligible given current economic conditions in the United States. In 2012, other income also included a one-time payment of $99,000 received by IPC following the settlement of commercial litigation and a supplemental payment from Bankrate of $67,000 related to the collection of outstanding accounts receivable subsequent to the Disposition Date. |
Note_9_Employee_Benefit_Plan
Note 9 - Employee Benefit Plan | 12 Months Ended |
Dec. 31, 2013 | |
Compensation and Retirement Disclosure [Abstract] | ' |
Pension and Other Postretirement Benefits Disclosure [Text Block] | ' |
9. Employee Benefit Plan | |
Until its termination effective June 1, 2012, IPC had a defined contribution plan offered to all eligible employees, which was qualified under section 401(k) of the Internal Revenue Code. IPC matched 50% of the first 4% of elective contributions made by each qualifying employee in 2012 and an additional discretionary match up to an additional 50% of the first 4% of elective contributions, if certain adjusted EBITDA targets are met. Employer contributions for the years ended December 31, 2013 and 2012 were $0 and $3,000. |
Note_10_Distribution
Note 10 - Distribution | 12 Months Ended |
Dec. 31, 2013 | |
Distribution Disclosure [Abstract] | ' |
Distribution Disclosure [Text Block] | ' |
10. Distribution | |
On January 4, 2012, the Board of Directors declared a special distribution of $5 per share of Common Stock and set February 9, 2012 as the record date and March 10, 2012 as the payment date for the special cash distribution. There were 7,722,377 shares outstanding on the record date and the Company distributed a total of $38,612,000 to shareholders on the payment date. There were no such distributions for the year ending December 31, 2013. |
Accounting_Policies_by_Policy_
Accounting Policies, by Policy (Policies) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Accounting Policies [Abstract] | ' | ||||||||
Basis of Accounting, Policy [Policy Text Block] | ' | ||||||||
Basis of presentation | |||||||||
The consolidated financial statements include the accounts of IPC and its wholly-owned subsidiaries, Goldrush Insurance Services, Inc. and InsWeb Insurance Services, Inc. All significant inter-company accounts and transactions have been eliminated in the consolidated financial statements. | |||||||||
IPC recognizes in the financial statements the effects of all subsequent events that provide additional evidence about conditions that existed at the date of the balance sheet. For non-recognized subsequent events that must be disclosed to keep the financial statements from being misleading, an entity is required to disclose the nature of the event as well as an estimate of its financial effect, or a statement that such an estimate cannot be made. | |||||||||
Use of Estimates, Policy [Policy Text Block] | ' | ||||||||
Use of estimates | |||||||||
The preparation of financial statements in conformity with United States generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. | |||||||||
Cash and Cash Equivalents, Policy [Policy Text Block] | ' | ||||||||
Cash, cash equivalents and short-term investments | |||||||||
IPC considers all highly liquid investments with original maturities of three months or less at the date of purchase to be cash equivalents. Investments with maturities greater than three months at the date of purchase but less than one year are classified as short-term investments. Cash, cash equivalents and short-term investments are stated at cost, which approximates fair value, given the relatively short duration of the underlying securities. | |||||||||
Revenue Recognition, Policy [Policy Text Block] | ' | ||||||||
Revenue recognition | |||||||||
The Company has not yet determined the methodology it will use for recognizing revenues from royalties for licensing its patents or from damages for past infringement, as no agreements related to these types of revenue streams had been entered into as of December 31, 2013. | |||||||||
Property, Plant and Equipment, Policy [Policy Text Block] | ' | ||||||||
Property and equipment and other long-lived assets | |||||||||
Property and equipment are stated at cost less accumulated depreciation. Depreciation on computer and office equipment, furniture and fixtures and purchased software is calculated using the straight-line method over the estimated useful lives of the assets, generally two to five years. Amortization on leasehold improvements is calculated using the straight-line method over the estimated useful lives of the improvements or the remaining term of the lease, whichever is shorter. Expenditures for maintenance and repairs are charged to expense as incurred. | |||||||||
IPC evaluates the recoverability of its long-lived assets, including intangible assets subject to amortization in accordance with Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC") Topic 360, Property, Plant and Equipment. ASC 360 requires the recognition of impairment losses related to long-lived assets in the event the net carrying value of such assets exceeds fair value. IPC assesses the impairment of its long-lived assets annually or when events or changes in circumstances indicate that the carrying value of an asset may not be recoverable. An impaired asset charge of $14,000 related to leasehold improvements at IPC’s former headquarters in Rancho Cordova, California was recognized for the year ended December 31, 2013. No such indicators of impairment were identified as of December 31, 2012. | |||||||||
Concentration Risk, Credit Risk, Policy [Policy Text Block] | ' | ||||||||
Concentration of risk—credit | |||||||||
Financial instruments that potentially subject IPC to concentrations of credit risk, as defined by ASC 825, “Financial Instruments,” consist principally of cash, cash equivalents and short-term investments. IPC deposits its cash, cash equivalents and short-term investments with various domestic financial institutions. Such deposits may exceed federal deposit insurance limits. | |||||||||
IPC’s cash equivalents and investments consist of diversified investment grade securities. IPC’s investment policy limits the amount of credit exposure to investments in any one issue, and IPC believes no significant concentration of credit risk exists with respect to these investments. | |||||||||
During the years ended December 31, 2013 and 2012, we had no customers or accounts receivable. Pursuant to the terms of the asset purchase agreement, Bankrate was required to pay us amounts it received from customers for the insurance lead generation business we conducted prior to the Disposition Date. The amount that IPC received from Bankrate in 2012 for accounts receivable purchased from IPC was approximately $67,000. No payments were received during 2013, and no additional payments in the future are expected. | |||||||||
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block] | ' | ||||||||
Share-Based Payments | |||||||||
IPC accounts for share-based compensation in accordance with ASC 718 “Compensation – Stock Compensation.” Under the provisions of ASC 718, share-based compensation cost is generally estimated at the grant date based on the award’s fair value as calculated by the Black-Scholes-Merton (BSM) option-pricing model. The BSM option-pricing model requires various highly judgmental assumptions including expected option life, volatility, and forfeiture rates. If any of the assumptions used in the BSM option-pricing model change significantly, share-based compensation expense may differ materially in the future from that recorded in the current period. Generally, compensation cost is recognized over the requisite service period. However, to the extent performance conditions affect the vesting of an award, compensation cost will be recognized only if the performance condition is satisfied. Compensation cost will not be recognized, and any previously recognized compensation cost will be reversed, if the performance condition is not satisfied. | |||||||||
IPC recognizes compensation costs for stock-based payments to employees and its Board of Directors, based on their grant-date fair value on a straight-line approach over the service period for which such awards are expected to vest. The fair value of stock options granted pursuant to the IPC’s 1997 and 2008 Stock Option Plans and Employee Stock Purchase Plan (“ESPP”), respectively, is determined using the BSM option-pricing model. The determination of fair value is affected by IPC’s stock price, as well as assumptions regarding subjective and complex variables such as expected employee exercise behavior and our expected stock price volatility over the expected term of the award. Generally, IPC’s assumptions are based on historical information and judgment is required to determine if historical trends may be indicators of future outcomes. The key assumptions for the BSM option-pricing model calculation are: | |||||||||
Expected term. The expected term represents the period that IPC’s share-based awards are expected to be outstanding. IPC’s expected term was determined based on historical experience of similar awards, giving consideration to the contractual terms of the share-based awards, vesting schedules and expectations of future employee behavior. | |||||||||
Expected volatility. IPC uses the trading history of its common stock in determining an estimated volatility factor when using the Black-Scholes option-pricing formula to determine the fair value of options granted. | |||||||||
Risk-free interest rate. IPC bases the risk-free interest rate used in the BSM option-pricing model on the implied yield currently available on U.S. Treasury zero-coupon issues with the same or substantially equivalent remaining term. | |||||||||
Expected dividend. Historically IPC has not declared or paid cash or stock dividends. Therefore, IPC uses a zero value for the expected dividend value factor when using the Black-Scholes option-pricing formula to determine the fair value of options granted. | |||||||||
Estimated forfeitures. ASC 718 requires forfeitures to be estimated at the time of grant and revised, if necessary, in subsequent periods if actual forfeitures differ from initial estimates. When estimating forfeitures, IPC considers historical voluntary and involuntary termination behavior as well as analysis of actual option forfeitures. | |||||||||
Employee stock-based compensation expense is calculated based on awards ultimately expected to vest and is reduced for estimated forfeitures. Forfeitures are revised, if necessary, in subsequent periods if actual forfeitures differ from those estimates and an adjustment to stock-based compensation expense will be recognized at that time. | |||||||||
Changes to our underlying stock price, our assumptions used in the BSM option-pricing model calculation and the IPC’s forfeiture rate, as well as future equity granted or assumed through acquisitions could significantly impact the compensation expense we recognize. | |||||||||
In conjunction with the Disposition, all of the Company’s outstanding and unvested stock options vested. As of December 31, 2013 and 2012, the Company had no outstanding unrecognized stock-based compensation. | |||||||||
Income Tax, Policy [Policy Text Block] | ' | ||||||||
Income taxes | |||||||||
Under the asset and liability method prescribed under ASC 740, “Income Taxes,” IPC recognizes deferred tax assets and liabilities for the future tax consequences attributable to differences between financial statement carrying amounts of assets and liabilities and their respective tax bases. 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 realized or settled. | |||||||||
Earnings Per Share, Policy [Policy Text Block] | ' | ||||||||
Net income per share | |||||||||
Basic and diluted net income per share is computed using the weighted-average number of shares of common stock outstanding. Diluted earnings per share is a measure of the potential dilution that would occur if stock options had been exercised. | |||||||||
The following table reconciles the denominator used to calculate basic and diluted net loss per share of common stock: | |||||||||
Year Ended December 31, | |||||||||
(In thousands) | 2013 | 2012 | |||||||
Numerator for basic and diluted net loss per share: | |||||||||
Net loss available to common shareholders: | $ | (2,663 | ) | $ | (2,726 | ) | |||
Denominator for net loss per share: | |||||||||
Basic and diluted—weighted average shares of common stock outstanding | 7,752 | 7,659 | |||||||
Potentially dilutive securities are not included in the diluted net income calculation, because the Company had a net loss from operations, net of tax. The antidilutive securities that are not included in the calculation above are employee stock options to purchase shares totaling 371 as of December 31, 2013 and 673 as of December 31, 2012. | |||||||||
New Accounting Pronouncements, Policy [Policy Text Block] | ' | ||||||||
Recently Issued Accounting Pronouncements | |||||||||
In February 2013, the FASB issued guidance requiring entities to provide information about the amounts reclassified out of accumulated other comprehensive income (“AOCI”) by component. In addition, it requires entities to present, either on the face of the statement where net income is presented or in the notes, significant amounts reclassified out of AOCI by the respective line items of net income if the amount reclassified is required under GAAP to be reclassified to net income in its entirety in the same reporting period. This guidance is effective prospectively for annual and interim reporting periods beginning after December 15, 2012, with early adoption permitted. The adoption of this guidance did not have a material impact on the financial statements. | |||||||||
In July 2013, the FASB issued an amendment to the accounting guidance related to the financial statement presentation of an unrecognized tax benefit when a net operating loss carryforward, a similar tax loss or a tax credit carryforward exists. The guidance requires an unrecognized tax benefit to be presented as a decrease in a deferred tax asset where a net operating loss, a similar tax loss, or a tax credit carryforward exists and certain criteria are met. This guidance is effective prospectively for annual and interim reporting periods beginning after December 15, 2013. The Company is currently evaluating the potential impact of the adoption of this guidance on its consolidated financial statements. |
Note_2_Summary_of_Significant_1
Note 2 - Summary of Significant Accounting Policies (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Accounting Policies [Abstract] | ' | ||||||||
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | ' | ||||||||
Year Ended December 31, | |||||||||
(In thousands) | 2013 | 2012 | |||||||
Numerator for basic and diluted net loss per share: | |||||||||
Net loss available to common shareholders: | $ | (2,663 | ) | $ | (2,726 | ) | |||
Denominator for net loss per share: | |||||||||
Basic and diluted—weighted average shares of common stock outstanding | 7,752 | 7,659 |
Note_3_ShareBased_Payments_Tab
Note 3 - Share-Based Payments (Tables) | 12 Months Ended | ||||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | ||||||||||||||||||||||||||||
Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range [Table Text Block] | ' | ||||||||||||||||||||||||||||
Options Outstanding | Options Currently Exercisable | ||||||||||||||||||||||||||||
Exercise Prices | Number | Weighted Average | Number | Weighted Average | |||||||||||||||||||||||||
Outstanding | Remaining Contractual | Outstanding | Exercise Price | ||||||||||||||||||||||||||
Life (in years) | |||||||||||||||||||||||||||||
(in thousands, except contractual life and exercise price amounts) | |||||||||||||||||||||||||||||
$ | 3.25 | - | $5.10 | 28 | 2.95 | 28 | $ | 3.79 | |||||||||||||||||||||
$ | 5.25 | - | $5.25 | 2 | 1.25 | 2 | 5.25 | ||||||||||||||||||||||
$ | 7 | - | $7.00 | 31 | 1.96 | 31 | 7 | ||||||||||||||||||||||
$ | 7.22 | - | $7.70 | 33 | 2.04 | 33 | 7.62 | ||||||||||||||||||||||
94 | 2.27 | 94 | $ | 6.25 | |||||||||||||||||||||||||
Schedule of Share-based Payment Award, Employee Stock Purchase Plan, Valuation Assumptions [Table Text Block] | ' | ||||||||||||||||||||||||||||
Year Ended December 31 | |||||||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||||||
Expected term (in years) | 3 | — | |||||||||||||||||||||||||||
Expected volatility | 0.69 | — | |||||||||||||||||||||||||||
Risk-free interest rate | 0.65 | % | — | % | |||||||||||||||||||||||||
Expected dividend | — | — | |||||||||||||||||||||||||||
Weighted-average fair value at grant date | $ | 1.61 | $ | — | |||||||||||||||||||||||||
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block] | ' | ||||||||||||||||||||||||||||
(in thousands, except exercise price amounts) | Shares Available | Shares | Weighted Average | ||||||||||||||||||||||||||
for Grant | Outstanding | Exercise Price | |||||||||||||||||||||||||||
Balances, December 31, 2012 | 673 | 231 | $ | 8.12 | |||||||||||||||||||||||||
Additional shares reserved | 155 | — | — | ||||||||||||||||||||||||||
Granted | (15 | ) | 15 | 3.56 | |||||||||||||||||||||||||
Canceled/forfeited | 152 | (152 | ) | 8.54 | |||||||||||||||||||||||||
Balances, December 31, 2013 | 965 | 94 | $ | 5.42 |
Note_4_Fair_Value_Measurements1
Note 4 - Fair Value Measurements (Tables) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||
Fair Value, Assets Measured on Recurring Basis [Table Text Block] | ' | ||||||||||||||||
December 31, | Level 1 | Level 2 | Level 3 | ||||||||||||||
2013 | |||||||||||||||||
Assets: | |||||||||||||||||
Cash equivalents | $ | 29,315 | $ | 29,315 | $ | — | $ | — | |||||||||
Short-term investments | 249 | 249 | — | — | |||||||||||||
Restricted cash equivalents | 1,000 | 1,000 | |||||||||||||||
Total assets at fair value | $ | 30,564 | $ | 30,564 | $ | — | $ | — | |||||||||
December 31, | Level 1 | Level 2 | Level 3 | ||||||||||||||
2012 | |||||||||||||||||
Assets: | |||||||||||||||||
Cash equivalents | $ | 44 | $ | 44 | $ | — | $ | — | |||||||||
Short-term investments | 1,497 | 1,497 | — | — | |||||||||||||
Restricted short-term investments | 1,000 | 1,000 | |||||||||||||||
Total assets at fair value | $ | 2,541 | $ | 2,541 | $ | — | $ | — |
Note_5_Consolidated_Financial_1
Note 5 - Consolidated Financial Statement Details (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Disclosure Text Block Supplement [Abstract] | ' | ||||||||
Cash, Cash Equivalents and Investments [Table Text Block] | ' | ||||||||
December 31, | |||||||||
2013 | 2012 | ||||||||
Cash | $ | 798 | $ | 31,024 | |||||
Money market deposit accounts | 28,022 | — | |||||||
Money market funds | 1,293 | 44 | |||||||
$ | 30,113 | $ | 31,068 | ||||||
Schedule of Other Assets [Table Text Block] | ' | ||||||||
December 31, | |||||||||
2013 | 2012 | ||||||||
Prepaid insurance | $ | 84 | $ | 60 | |||||
Prepaid rent | 41 | 39 | |||||||
Prepaid taxes | 16 | 50 | |||||||
Other | 3 | 20 | |||||||
$ | 144 | $ | 169 | ||||||
Property, Plant and Equipment [Table Text Block] | ' | ||||||||
December 31, | |||||||||
2013 | 2012 | ||||||||
Computer and office equipment | $ | 35 | $ | 35 | |||||
Furniture and fixtures | 360 | 365 | |||||||
Leasehold improvements | 23 | 23 | |||||||
Software | 23 | 24 | |||||||
441 | 447 | ||||||||
Less accumulated depreciation | (440 | ) | (415 | ) | |||||
$ | 1 | $ | 32 | ||||||
Schedule of Accrued Liabilities [Table Text Block] | ' | ||||||||
December 31, | |||||||||
2013 | 2012 | ||||||||
Deferred rent | $ | — | $ | 226 | |||||
Accrued lease obligations (see Note 6) | 229 | 95 | |||||||
Other | 24 | 25 | |||||||
$ | 253 | $ | 346 |
Note_6_Commitments_and_Conting1
Note 6 - Commitments and Contingencies (Tables) | 12 Months Ended | ||||
Dec. 31, 2013 | |||||
Commitments and Contingencies Disclosure [Abstract] | ' | ||||
Schedule of Future Minimum Lease Payments for Capital Leases [Table Text Block] | ' | ||||
Years ending December 31, | Future | ||||
minimum lease | |||||
commitments | |||||
2014 | $ | 466 | |||
2015 | 350 | ||||
2016 | 350 | ||||
2017 | 58 | ||||
Thereafter | — | ||||
$ | 1,224 | ||||
Operating Leases Of Lessee Sublease Payment Receivable [Table Text Block] | ' | ||||
Years ending December 31, | Future | ||||
minimum sub- | |||||
lease | |||||
payments | |||||
2014 | $ | 213 | |||
2015 | 136 | ||||
2016 | 136 | ||||
2017 | 23 | ||||
$ | 508 |
Note_7_Income_Taxes_Tables
Note 7 - Income Taxes (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | ' | ||||||||
December 31, | |||||||||
2013 | 2012 | ||||||||
Net operating loss carry forwards | $ | 48,133 | $ | 47,335 | |||||
Tax credit carry forwards | 981 | 981 | |||||||
Accruals and allowances | 296 | 90 | |||||||
Other | 46 | 162 | |||||||
Total deferred tax asset | 49,456 | 48,568 | |||||||
Less valuation allowance | (49,456 | ) | (48,568 | ) | |||||
Net deferred tax asset | $ | — | $ | — | |||||
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | ' | ||||||||
December 31, | |||||||||
2013 | 2012 | ||||||||
Federal tax at statutory rate | 34 | % | 34 | % | |||||
Share based compensation | (0.3 | )% | 43.2 | % | |||||
Contingent liability true-up | 0 | % | 14.7 | % | |||||
Other | (0.6 | )% | (0.3 | )% | |||||
Adjustment due to change in valuation allowance | (33.1 | )% | (89.4 | )% | |||||
(0.0 | )% | 2.2 | % | ||||||
Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block] | ' | ||||||||
2013 | 2012 | ||||||||
Balance at January 1 | $ | 300 | $ | 300 | |||||
Increase (decrease) related to prior year tax positions | — | — | |||||||
Increase (decrease) related to current year tax positions | — | — | |||||||
Settlements | — | — | |||||||
Reductions due to lapse of applicable statute of limitations | — | — | |||||||
Balance at December 31 | $ | 300 | $ | 300 |
Note_2_Summary_of_Significant_2
Note 2 - Summary of Significant Accounting Policies (Details) (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Note 2 - Summary of Significant Accounting Policies (Details) [Line Items] | ' | ' |
Impairment of Leasehold | $14,000 | $0 |
Accounts Receivable, Net, Current | 0 | 0 |
Proceeds from Collection of Other Receivables | 0 | 67,000 |
Fair Value Assumptions, Expected Dividend Rate | 0.00% | ' |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Stock Options | $0 | $0 |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in Shares) | 371 | 673 |
Minimum [Member] | ' | ' |
Note 2 - Summary of Significant Accounting Policies (Details) [Line Items] | ' | ' |
Property, Plant and Equipment, Useful Life | '2 years | ' |
Maximum [Member] | ' | ' |
Note 2 - Summary of Significant Accounting Policies (Details) [Line Items] | ' | ' |
Property, Plant and Equipment, Useful Life | '5 years | ' |
Note_2_Summary_of_Significant_3
Note 2 - Summary of Significant Accounting Policies (Details) - Calculation of Basic and Diluted Net Income per Share (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Calculation of Basic and Diluted Net Income per Share [Abstract] | ' | ' |
Net loss available to common shareholders: (in Dollars) | ($2,663) | ($2,726) |
Denominator for net loss per share: | ' | ' |
Basic and diluted—weighted average shares of common stock outstanding | 7,752 | 7,659 |
Note_3_ShareBased_Payments_Det
Note 3 - Share-Based Payments (Details) (USD $) | 1 Months Ended | 6 Months Ended | 12 Months Ended | 6 Months Ended | 12 Months Ended | ||||||
Jan. 31, 2012 | Jul. 01, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | 31-May-03 | Feb. 29, 2008 | Jul. 01, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | |
IPC Stock Option and Executive Plans [Member] | Each Non-Employee Director [Member] | Employees [Member] | Employees [Member] | Minimum [Member] | Maximum [Member] | ||||||
Note 3 - Share-Based Payments (Details) [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in Shares) | ' | ' | ' | ' | 5,000 | 1,500,000 | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in Shares) | ' | ' | 15,000 | ' | ' | ' | 5,000 | 0 | 0 | ' | ' |
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price (in Dollars per share) | ' | $3.56 | $3.56 | ' | ' | ' | ' | ' | ' | ' | ' |
Annual Increase in Share Reserve, Percentage | ' | ' | ' | ' | 5.00% | ' | ' | ' | ' | ' | ' |
Share-based Goods and Nonemployee Services Transaction, Valuation Method, Expected Term | ' | ' | ' | ' | ' | ' | ' | ' | ' | '2 years | '5 years |
Allocated Share-based Compensation Expense | ' | ' | $24,000 | $0 | ' | ' | ' | ' | ' | ' | ' |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Stock Options | ' | ' | 0 | 0 | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value | ' | ' | 0 | 3,000 | ' | ' | ' | ' | ' | ' | ' |
Share Price (in Dollars per share) | $7.95 | ' | $3.12 | $3.55 | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value | ' | ' | 0 | 4,174,000 | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Exercisable, Weighted Average Remaining Contractual Term | ' | ' | '2 years 98 days | '1 year 302 days | ' | ' | ' | ' | ' | ' | ' |
Proceeds from Stock Options Exercised | ' | ' | $0 | $5,326,000 | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period (in Shares) | 42,416 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangements by Share-based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price (in Dollars per share) | $4.94 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Conversion of Stock, Shares Converted (in Shares) | 25,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Treasury Stock, Shares (in Shares) | 25,000 | ' | 3,281,000 | 3,281,000 | ' | ' | ' | ' | ' | ' | ' |
Note_3_ShareBased_Payments_Det1
Note 3 - Share-Based Payments (Details) - Stock Options by Exercise Price Range (USD $) | 12 Months Ended | |
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' | ' |
Number Outstanding (in Shares) | 94 | 231 |
Weighted Average Remaining Contractual Life (in years) | '2 years 98 days | ' |
Number Outstanding (in Shares) | 94 | ' |
Weighted Average Exercise Price | $6.25 | ' |
Three Dollars And Twenty Five Cents To Five Dollars And Ten Cents [Member] | ' | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' | ' |
Exercise Prices | $3.25 | ' |
Exercise Prices | $5.10 | ' |
Number Outstanding (in Shares) | 28 | ' |
Weighted Average Remaining Contractual Life (in years) | '2 years 346 days | ' |
Number Outstanding (in Shares) | 28 | ' |
Weighted Average Exercise Price | $3.79 | ' |
Five Dollars And Twenty Five Cents To Five Dollars And Twenty Five Cents [Member] | ' | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' | ' |
Exercise Prices | $5.25 | ' |
Exercise Prices | $5.25 | ' |
Number Outstanding (in Shares) | 2 | ' |
Weighted Average Remaining Contractual Life (in years) | '1 year 3 months | ' |
Number Outstanding (in Shares) | 2 | ' |
Weighted Average Exercise Price | $5.25 | ' |
Seven Dollars To Seven Dollars [Member] | ' | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' | ' |
Exercise Prices | $7 | ' |
Exercise Prices | $7 | ' |
Number Outstanding (in Shares) | 31 | ' |
Weighted Average Remaining Contractual Life (in years) | '1 year 350 days | ' |
Number Outstanding (in Shares) | 31 | ' |
Weighted Average Exercise Price | $7 | ' |
Seven Dollars And Twenty Two Cents To Seven Dollars And Seventy Cents [Member] | ' | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' | ' |
Exercise Prices | $7.22 | ' |
Exercise Prices | $7.70 | ' |
Number Outstanding (in Shares) | 33 | ' |
Weighted Average Remaining Contractual Life (in years) | '2 years 14 days | ' |
Number Outstanding (in Shares) | 33 | ' |
Weighted Average Exercise Price | $7.62 | ' |
Note_3_ShareBased_Payments_Det2
Note 3 - Share-Based Payments (Details) - Fair Value Of Stock Options Assumption (USD $) | 12 Months Ended |
Dec. 31, 2013 | |
Fair Value Of Stock Options Assumption [Abstract] | ' |
Expected term (in years) | '3 years |
Expected volatility | 0.69% |
Risk-free interest rate | 0.65% |
Weighted-average fair value at grant date (in Dollars per share) | $1.61 |
Note_3_ShareBased_Payments_Det3
Note 3 - Share-Based Payments (Details) - Stock Option Activity (USD $) | 6 Months Ended | 12 Months Ended |
In Thousands, except Per Share data, unless otherwise specified | Jul. 01, 2013 | Dec. 31, 2013 |
Stock Option Activity [Abstract] | ' | ' |
Balances, December 31, 2012 | 673 | 673 |
Balances, December 31, 2012 | 231 | 231 |
Balances, December 31, 2012 (in Dollars per share) | $8.12 | $8.12 |
Additional shares reserved | ' | 155 |
Granted | ' | -15 |
Granted | ' | 15 |
Granted (in Dollars per share) | $3.56 | $3.56 |
Canceled/forfeited | ' | 152 |
Canceled/forfeited | ' | -152 |
Canceled/forfeited (in Dollars per share) | ' | $8.54 |
Balances, December 31, 2013 | ' | 965 |
Balances, December 31, 2013 | ' | 94 |
Balances, December 31, 2013 (in Dollars per share) | ' | $5.42 |
Note_4_Fair_Value_Measurements2
Note 4 - Fair Value Measurements (Details) - Assets at Fair Value (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Assets: | ' | ' |
Cash equivalents | $29,315 | $44 |
Short-term investments | 249 | 1,497 |
Restricted cash equivalents and short-term investments | 1,000 | 1,000 |
Total assets at fair value | 30,564 | 2,541 |
Fair Value, Inputs, Level 1 [Member] | ' | ' |
Assets: | ' | ' |
Cash equivalents | 29,315 | 44 |
Short-term investments | 249 | 1,497 |
Restricted cash equivalents and short-term investments | 1,000 | 1,000 |
Total assets at fair value | $30,564 | $2,541 |
Note_5_Consolidated_Financial_2
Note 5 - Consolidated Financial Statement Details (Details) (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Note 5 - Consolidated Financial Statement Details (Details) [Line Items] | ' | ' |
Short-term Investments | $249,000 | $1,497,000 |
Restricted Investments | 1,000,000 | 1,000,000 |
Trading Securities Pledged as Collateral | 1,000,000 | ' |
Depreciation | 14,000 | 20,000 |
Depreciation and Amortization, Discontinued Operations | 606,000 | ' |
Operating Leases, Rent Expense | 118,000 | 274,000 |
Leasehold Improvements [Member] | ' | ' |
Note 5 - Consolidated Financial Statement Details (Details) [Line Items] | ' | ' |
Impaired Assets to be Disposed of by Method Other than Sale, Amount of Impairment Loss | 14,000 | ' |
San Francisco [Member] | ' | ' |
Note 5 - Consolidated Financial Statement Details (Details) [Line Items] | ' | ' |
Operating Leases, Rent Expense | ' | $95,000 |
Maximum [Member] | ' | ' |
Note 5 - Consolidated Financial Statement Details (Details) [Line Items] | ' | ' |
Investment Portfolio Contractual Maturities | '1 year | ' |
Note_5_Consolidated_Financial_3
Note 5 - Consolidated Financial Statement Details (Details) - Cash and Cash Equivalents (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
In Thousands, unless otherwise specified | |||
Cash and Cash Equivalents [Abstract] | ' | ' | ' |
Cash | $798 | $31,024 | ' |
Money market deposit accounts | 28,022 | ' | ' |
Money market funds | 1,293 | 44 | ' |
$30,113 | $31,068 | $70,326 |
Note_5_Consolidated_Financial_4
Note 5 - Consolidated Financial Statement Details (Details) - Prepaid Expenses and Other Current Assets (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Prepaid Expenses and Other Current Assets [Abstract] | ' | ' |
Prepaid insurance | $84 | $60 |
Prepaid rent | 41 | 39 |
Prepaid taxes | 16 | 50 |
Other | 3 | 20 |
$144 | $169 |
Note_5_Consolidated_Financial_5
Note 5 - Consolidated Financial Statement Details (Details) - Property and Equipment, Net (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Property and Equipment, Net [Abstract] | ' | ' |
Computer and office equipment | $35 | $35 |
Furniture and fixtures | 360 | 365 |
Leasehold improvements | 23 | 23 |
Software | 23 | 24 |
441 | 447 | |
Less accumulated depreciation | -440 | -415 |
$1 | $32 |
Note_5_Consolidated_Financial_6
Note 5 - Consolidated Financial Statement Details (Details) - Accrued Expenses and Other Current Liabilities (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Accrued Expenses and Other Current Liabilities [Abstract] | ' | ' |
Deferred rent | ' | $226 |
Accrued lease obligations (see Note 6) | 229 | 95 |
Other | 24 | 25 |
$253 | $346 |
Note_6_Commitments_and_Conting2
Note 6 - Commitments and Contingencies (Details) (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Note 6 - Commitments and Contingencies (Details) [Line Items] | ' | ' |
Operating Leases, Future Minimum Payments Receivable | $508,000 | ' |
Operating Leases, Rent Expense | 118,000 | 274,000 |
Folsom, California Corporate Headquarters [Member] | ' | ' |
Note 6 - Commitments and Contingencies (Details) [Line Items] | ' | ' |
Lease Term | '24 months | ' |
Area of Real Estate Property (in Square Feet) | 800 | ' |
Sacramento [Member] | ' | ' |
Note 6 - Commitments and Contingencies (Details) [Line Items] | ' | ' |
Lease Term | '5 years | ' |
Area of Real Estate Property (in Square Feet) | 16,000 | ' |
Operating Leases, Future Minimum Payments Receivable | 431,000 | ' |
San Francisco [Member] | ' | ' |
Note 6 - Commitments and Contingencies (Details) [Line Items] | ' | ' |
Area of Real Estate Property (in Square Feet) | 10,000 | ' |
Operating Leases, Future Minimum Payments Receivable | $77,000 | ' |
Note_6_Commitments_and_Conting3
Note 6 - Commitments and Contingencies (Details) - Future Minimum Lease Commitments (USD $) | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |
Future Minimum Lease Commitments [Abstract] | ' |
2014 | $466 |
2015 | 350 |
2016 | 350 |
2017 | 58 |
$1,224 |
Note_6_Commitments_and_Conting4
Note 6 - Commitments and Contingencies (Details) - Future Minimum Sub-lease Payments Receivable (USD $) | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |
Future Minimum Sub-lease Payments Receivable [Abstract] | ' |
2014 | $213 |
2015 | 136 |
2016 | 136 |
2017 | 23 |
$508 |
Note_7_Income_Taxes_Details
Note 7 - Income Taxes (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Note 7 - Income Taxes (Details) [Line Items] | ' | ' | ' |
Valuation Allowance, Deferred Tax Asset, Change in Amount | $888,000 | $124,000 | ' |
Deferred Tax Assets, Valuation Allowance | 49,456,000 | 48,568,000 | ' |
Deferred Tax Assets, Tax Credit Carryforwards, Alternative Minimum Tax | 500,000 | ' | ' |
Income Tax Expense (Benefit) | 0 | -61,000 | ' |
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 34.00% | 34.00% | ' |
Unrecognized Tax Benefits | 300,000 | 300,000 | 300,000 |
Unrecognized Tax Benefits that Would Impact Effective Tax Rate | 100,000 | ' | ' |
Internal Revenue Service (IRS) [Member] | Expiring In 2019 [Member] | ' | ' | ' |
Note 7 - Income Taxes (Details) [Line Items] | ' | ' | ' |
Operating Loss Carryforwards | 142,900,000 | ' | ' |
Internal Revenue Service (IRS) [Member] | ' | ' | ' |
Note 7 - Income Taxes (Details) [Line Items] | ' | ' | ' |
Income Tax Expense (Benefit) | ' | 25,000 | ' |
State and Local Jurisdiction [Member] | Expiring In 2014 [Member] | ' | ' | ' |
Note 7 - Income Taxes (Details) [Line Items] | ' | ' | ' |
Operating Loss Carryforwards | 64,400,000 | ' | ' |
State and Local Jurisdiction [Member] | ' | ' | ' |
Note 7 - Income Taxes (Details) [Line Items] | ' | ' | ' |
Income Tax Expense (Benefit) | ' | 36,000 | ' |
Excess Tax Benefits Of Stock Option Deductions [Member] | ' | ' | ' |
Note 7 - Income Taxes (Details) [Line Items] | ' | ' | ' |
Deferred Tax Assets, Valuation Allowance | 2,700,000 | 2,700,000 | ' |
Expiring In 2018 [Member] | ' | ' | ' |
Note 7 - Income Taxes (Details) [Line Items] | ' | ' | ' |
Deferred Tax Assets, Tax Credit Carryforwards, Research | $700,000 | ' | ' |
Note_7_Income_Taxes_Details_De
Note 7 - Income Taxes (Details) - Deferred Tax Assets and Liabilities (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Deferred Tax Assets and Liabilities [Abstract] | ' | ' |
Net operating loss carry forwards | $48,133 | $47,335 |
Tax credit carry forwards | 981 | 981 |
Accruals and allowances | 296 | 90 |
Other | 46 | 162 |
Total deferred tax asset | 49,456 | 48,568 |
Less valuation allowance | ($49,456) | ($48,568) |
Note_7_Income_Taxes_Details_Ef
Note 7 - Income Taxes (Details) - Effective Income Tax Rate Reconciliation | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Effective Income Tax Rate Reconciliation [Abstract] | ' | ' |
Federal tax at statutory rate | 34.00% | 34.00% |
Share based compensation | -0.30% | 43.20% |
Contingent liability true-up | 0.00% | 14.70% |
Other | -0.60% | -0.30% |
Adjustment due to change in valuation allowance | -33.10% | -89.40% |
0.00% | 2.20% |
Note_7_Income_Taxes_Details_Un
Note 7 - Income Taxes (Details) - Unrecognized Tax Benefits (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
In Thousands, unless otherwise specified | |||
Unrecognized Tax Benefits [Abstract] | ' | ' | ' |
Balance at January 1 | $300 | $300 | $300 |
Balance at December 31 | $300 | $300 | $300 |
Note_8_Other_Income_Details
Note 8 - Other Income (Details) (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Disclosure Text Block [Abstract] | ' | ' |
Investment Income, Interest | $25,000 | $6,000 |
Gain (Loss) Related to Litigation Settlement | ' | 99,000 |
Proceeds from Collection of Other Receivables | $0 | $67,000 |
Note_9_Employee_Benefit_Plan_D
Note 9 - Employee Benefit Plan (Details) (USD $) | 5 Months Ended | 12 Months Ended | |
Jun. 01, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | |
Note 9 - Employee Benefit Plan (Details) [Line Items] | ' | ' | ' |
Defined Contribution Plan, Employer Matching Contribution, Percent of Match | 50.00% | ' | ' |
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay | 4.00% | ' | ' |
Defined Contribution Plan, Employer Discretionary Contribution Amount (in Dollars) | ' | $0 | $3,000 |
Additional Matching Contribution [Member] | ' | ' | ' |
Note 9 - Employee Benefit Plan (Details) [Line Items] | ' | ' | ' |
Defined Contribution Plan, Employer Matching Contribution, Percent of Match | 50.00% | ' | ' |
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay | 4.00% | ' | ' |
Note_10_Distribution_Details
Note 10 - Distribution (Details) (USD $) | 0 Months Ended | 2 Months Ended | 12 Months Ended | ||
Jan. 04, 2012 | Mar. 10, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Feb. 09, 2012 | |
Distribution Disclosure [Abstract] | ' | ' | ' | ' | ' |
Common Stock Distribution Per Share Cash Paid (in Dollars per share) | $5 | ' | ' | $5 | ' |
Common Stock, Shares, Outstanding (in Shares) | ' | ' | 11,033,000 | 7,752,000 | 7,722,377 |
Payments of Capital Distribution | ' | $38,612,000 | $0 | ' | ' |