Document_And_Entity_Informatio
Document And Entity Information | 6 Months Ended | |
Jun. 30, 2014 | Aug. 11, 2014 | |
Document Information [Line Items] | ' | ' |
Entity Registrant Name | 'LOOKSMART LTD | ' |
Entity Central Index Key | '0001077866 | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Entity Filer Category | 'Smaller Reporting Company | ' |
Trading Symbol | 'LOOK | ' |
Entity Common Stock, Shares Outstanding | ' | 5,768,851 |
Document Type | '10-Q | ' |
Amendment Flag | 'false | ' |
Document Period End Date | 30-Jun-14 | ' |
Document Fiscal Period Focus | 'Q2 | ' |
Document Fiscal Year Focus | '2014 | ' |
CONSOLIDATED_BALANCE_SHEETS
CONSOLIDATED BALANCE SHEETS (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Current assets: | ' | ' |
Cash and cash equivalents | $2,138 | $2,789 |
Short-term investments | 515 | 3,102 |
Total cash, cash equivalents and short-term investments | 2,653 | 5,891 |
Trade accounts receivable, net | 631 | 606 |
Prepaid expenses and other current assets | 567 | 1,077 |
Total current assets | 3,851 | 7,574 |
Long-term investments | 0 | 154 |
Property and equipment, net | 4,288 | 3,831 |
Other assets, net | 85 | 87 |
Total assets | 8,224 | 11,646 |
Current liabilities: | ' | ' |
Trade accounts payable | 1,249 | 739 |
Accrued liabilities | 342 | 444 |
Deferred revenue and customer deposits | 1,007 | 1,002 |
Current portion of capital lease obligations | 86 | 0 |
Total current liabilities | 2,684 | 2,185 |
Long-term portion of deferred rent | 134 | 186 |
Total liabilities | 2,818 | 2,371 |
Commitment and contingencies | 0 | 0 |
Stockholders' equity: | ' | ' |
Convertible preferred stock, $0.001 par value; Authorized: 5,000 shares; Issued and Outstanding: none at June 30, 2014 and December 31, 2013 | 0 | 0 |
Common stock, $0.001 par value; Authorized: 80,000 shares; Issued and Outstanding: 5,769 shares at both June 30, 2014 and December 31, 2013 | 17 | 17 |
Additional paid-in capital | 262,506 | 262,502 |
Accumulated other comprehensive loss | -186 | -154 |
Accumulated deficit | -256,773 | -253,016 |
Treasury stock at cost: 76 shares and 32 shares at June 30, 2014 and December 31, 2013, respectively | -158 | -74 |
Total stockholders' equity | 5,406 | 9,275 |
Total liabilities and stockholders' equity | $8,224 | $11,646 |
CONSOLIDATED_BALANCE_SHEETS_Pa
CONSOLIDATED BALANCE SHEETS [Parenthetical] (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, except Per Share data, unless otherwise specified | ||
Convertible preferred stock, par value (in dollars per share) | $0.00 | $0.00 |
Convertible preferred stock, shares authorized (in shares) | 5,000 | 5,000 |
Convertible preferred stock, shares issued (in shares) | 0 | 0 |
Convertible preferred stock, shares outstanding (in shares) | 0 | 0 |
Common stock, par value (in dollars per share) | $0.00 | $0.00 |
Common stock, shares authorized (in shares) | 80,000 | 80,000 |
Common stock, shares issued (in shares) | 5,769 | 5,769 |
Common stock, shares outstanding (in shares) | 5,769 | 5,769 |
Treasury stock (in shares) | 76 | 32 |
CONSOLIDATED_STATEMENTS_OF_OPE
CONSOLIDATED STATEMENTS OF OPERATIONS (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Revenue | $1,410 | $1,548 | $2,468 | $3,546 |
Cost of revenue | 699 | 983 | 1,390 | 2,358 |
Gross profit | 711 | 565 | 1,078 | 1,188 |
Operating expenses: | ' | ' | ' | ' |
Sales and marketing | 390 | 115 | 845 | 286 |
Product development and technical operations | 1,217 | 713 | 2,417 | 1,400 |
General and administrative | 999 | 778 | 1,641 | 1,991 |
Restructuring charge | 7 | 7 | 16 | 22 |
Total operating expenses | 2,613 | 1,613 | 4,919 | 3,699 |
Loss from operations | -1,902 | -1,048 | -3,841 | -2,511 |
Non-operating income (expense), net | ' | ' | ' | ' |
Interest income | 27 | 33 | 74 | 41 |
Interest expense | -4 | 0 | -7 | -9 |
Other income (expense), net | 18 | 2 | 17 | 9 |
Loss from operations before income taxes | -1,861 | -1,013 | -3,757 | -2,470 |
Income tax expense | 0 | 0 | 0 | 0 |
Net loss | ($1,861) | ($1,013) | ($3,757) | ($2,470) |
Net loss per share - Basic and Diluted (in dollars per share) | ($0.32) | ($0.18) | ($0.65) | ($0.43) |
Weighted average shares outstanding used in computing basic and diluted net loss per share (in shares) | 5,732 | 5,749 | 5,747 | 5,760 |
CONSOLIDATED_STATEMENTS_OF_COM
CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Net loss | ($1,861) | ($1,013) | ($3,757) | ($2,470) |
Other comprehensive income (loss): | ' | ' | ' | ' |
Foreign currency translation adjustments | 90 | -8 | 0 | -47 |
Unrealized loss on investments | -29 | -1 | -32 | 25 |
Change in accumulated other comprehensive loss | 61 | -9 | -32 | -22 |
Comprehensive loss | ($1,800) | ($1,022) | ($3,789) | ($2,492) |
CONSOLIDATED_STATEMENTS_OF_CAS
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $) | 6 Months Ended | |
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 |
Cash flows from operating activities: | ' | ' |
Net loss | ($3,757) | ($2,470) |
Adjustment to reconcile net loss to net cash used in operating activities: | ' | ' |
Depreciation and amortization | 733 | 120 |
Provision for doubtful accounts | 5 | 201 |
Share-based compensation | 4 | 33 |
Other non-cash charges | -44 | 18 |
Deferred rent | -52 | -21 |
Deferred lease incentive | 38 | 38 |
Restructuring charge | 6 | 32 |
Changes in operating assets and liabilities: | ' | ' |
Trade accounts receivable | -30 | 992 |
Prepaid expenses and other current assets | 474 | 34 |
Trade accounts payable | 504 | -685 |
Accrued liabilities | -94 | -1,025 |
Deferred revenue and customer deposits | 5 | -117 |
Net cash used in operating activities | -2,208 | -2,850 |
Cash flows from investing activities: | ' | ' |
Purchase of investments | -72 | -5,266 |
Proceeds from sale of investments | 2,812 | 9,800 |
Payments for property and equipment | -1,013 | 0 |
Net cash provided by investing activities | 1,727 | 4,534 |
Cash flows from financing activities: | ' | ' |
Principal payments of capital lease obligations | -86 | -110 |
Proceeds from issuance of common stock | 0 | 1 |
Payments for repurchase of common stock | -84 | -13 |
Net cash used in financing activities | -170 | -122 |
Effect of exchange rate changes on cash and cash equivalents | 0 | -11 |
Increase in cash and cash equivalents | -651 | 1,551 |
Cash and cash equivalents, beginning of period | 2,789 | 6,352 |
Cash and cash equivalents, end of period | 2,138 | 7,903 |
Supplemental disclosure of cash flow information: | ' | ' |
Interest paid | 7 | 9 |
Supplemental disclosure of noncash activities: | ' | ' |
Assets acquired through capital lease obligations | 164 | 0 |
Change in unrealized gain (loss) on investments | ($32) | ($1) |
Summary_of_Significant_Account
Summary of Significant Accounting Policies | 6 Months Ended | ||||||||||||
Jun. 30, 2014 | |||||||||||||
Summary of Significant Accounting Policies [Abstract] | ' | ||||||||||||
Significant Accounting Policies [Text Block] | ' | ||||||||||||
1. Summary of Significant Accounting Policies | |||||||||||||
Nature of Business | |||||||||||||
LookSmart, Ltd. (“LookSmart” or the “Company”) provides its customers with search, social, display, mobile and video advertising solutions as well as analytic, moderation and publishing workflow solutions across the entire social media marketing ecosystem. The customers of Looksmart range from small and medium-sized businesses to large Fortune 50 companies. LookSmart was organized in 1996 and is incorporated in the State of Delaware. | |||||||||||||
LookSmart’s search advertising network generates advertisements that target search intent queries on Looksmart.com and partner publisher sites. The network offers search advertising customers targeted search through a monitored search advertising distribution network using the Company’s “AdCenter” platform technology. The advertisers that comprise the Company’s network include intermediaries, direct advertising customers and their agencies, as well as self-service customers in the United States and certain other countries. | |||||||||||||
Self-service advertisers are customers that sign-up directly online with the Company and pay by credit card. Direct advertisers (and their agencies) include customers whose main objective is to obtain conversions or sales from clicks. Intermediary customers do not directly advertise on our platform but sell into the affiliate networks of the large search engine providers (“Intermediaries”). | |||||||||||||
LookSmart also offers advertisers the ability to buy graphical display advertising. LookSmart’s trading desk personnel utilize Demand Side Platform (“DSP”) technology and licensed data from third party providers to purchase targeted advertising on a real-time bidded basis. By leveraging our extensive historical search marketing network data along with performance data from a conversion pixel, LookSmart constructs models of the highest performing audiences and targets them via exchange inventory. LookSmart offers its trading desk as a managed service. | |||||||||||||
In addition, Looksmart, under its “Clickable” and “Syncapse” brands, allows customers to manage paid, owned and earned media by providing a suite of solutions for social media marketers that include publishing, monitoring, data storage, compliance, management, ad placement and analytics. The “Clickable Analytics” dashboard provides customers with the ability to easily put all their cross channel marketing (search, display, social, email, video, offline) and audience data from various sources into one unified, flexible and customizable platform. The platform allows the customer to better understand and utilize the data for the customizing and layering of customer specific key performance indicators. The Company believes that this platform will allow customers to combine data in a way that better suits their particular marketing, financial and operational goals both with standard and customized dashboards and analytics. This platform allows companies to gather and manage Application Programming Interface (“API”) data from many data providers including Facebook, Twitter, YouTube, and Instagram, as well as analyze such data in the “Clickable” proprietary platform and within a company’s own data warehouse. | |||||||||||||
Further, LookSmart offers publishers licensed private-label search advertiser network solutions based on its AdCenter platform technology (“Publisher Solutions”). Publisher Solutions consist of hosted auction-based ad serving with an ad backfill capability that allows publishers and portals to manage their advertiser relationships, distribution channels and accounts. | |||||||||||||
Lastly, starting in the fourth quarter of 2013, the Company began to offer a LookSmart-branded search engine. For parties submitting search queries, the Company offers free-of-charge search results ranked and presented based on proprietary algorithms. While early in its evolution, part of the Company’s current search engine monetization strategy is to generate sponsored search results as a part of overall search results and provide links to paying advertisers’ websites. | |||||||||||||
In 2013, the Company made the decision to decrease the amount of revenue that it received from Intermediaries compared to 2012. Decreasing Intermediary revenue represented a continued trend from 2012 and was the primary driver of the Company’s overall 2013 revenue decreases. The Company believes its revenue trends are tied to market-wide changes in the search ecosystem that have had a severe impact on Intermediary business models and consequently the business Intermediaries conduct with us. In both 2013 and 2012, we ceased business with a number of Intermediaries. | |||||||||||||
In September 2013, LookSmart purchased the assets related to its Syncapse technology for $3 million from MNP Ltd., a receiver appointed by Ontario Superior Court of Justice under an appointment order. As a result of this transaction, the Company acquired a social media platform that allows enterprise customers the ability to publish, monitor and analyze their social media presence on paid, owned and earned media. The Company has begun to work with large international brands to assist them in creating, maintaining and analyzing their social media presence online. As a result of the Syncapse asset purchase, the Company is expanding its offerings to our current customer base. Our expanded offering allows LookSmart’s traditional customers the ability to manage ad spend in both search and social platforms. The Company’s goal is to partner with social media companies such as Facebook, Twitter, Pinterest and YouTube, as well as others, to offer customers the ability to maximize their ad spend in all relevant ad categories. | |||||||||||||
In November of 2013, LookSmart acquired an approximate 10,000 square foot Data Center facility in Phoenix, Arizona. Looksmart has completed the process of consolidating its cloud services in the newly occupied and wholly owned secure Data Center. As a result, the Company intends to expand its cloud-based offerings to its customers. | |||||||||||||
In March 2014, the company formed a joint venture, Conversion Media Holdings, LLC, a Delaware Limited Liability Corporation, to create content sites directed at ecommerce verticals like housewares, electronics and other consumer products. The operations began in April of 2014 and currently are in a testing phase. | |||||||||||||
Principles of Consolidation | |||||||||||||
The Unaudited Consolidated Financial Statements as of June 30, 2014 and December 31, 2013, and for the three and six months ended June 30, 2014 and 2013, include the accounts of the Company and its subsidiaries. All significant inter-company balances and transactions have been eliminated in consolidation. | |||||||||||||
Unaudited Interim Financial Information | |||||||||||||
The accompanying Unaudited Consolidated Financial Statements as of June 30, 2014, and for the three and six months ended June 30, 2014 and 2013, reflect all adjustments that are normal and recurring in nature and, in the opinion of management, are necessary for a fair representation of the Company’s financial position as of June 30, 2014 and the results of operations for the periods shown. These Unaudited Consolidated Financial Statements should be read in conjunction with the Company’s Consolidated Financial Statements and Notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2013 (“Annual Report”). The Consolidated Balance Sheet as of December 31, 2013 has been derived from the audited financial statements at that date, but does not include all of the information and footnotes required by accounting principles generally accepted in the United States (“GAAP”) for complete financial statements. The results of operations for the interim period ended June 30, 2014 are not necessarily indicative of results to be expected for the full year. | |||||||||||||
Use of Estimates and Assumptions | |||||||||||||
The Unaudited Consolidated Financial Statements have been prepared in conformity with accounting principles generally accepted in the United States (“GAAP”). This requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, revenue, expenses, and contingent assets and liabilities during the reporting period. The Company bases its estimates on various factors and information which may include, but are not limited to, history and prior experience, experience of other enterprises in the same industry, new related events, and current economic conditions and information from third party professionals that is believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results could differ from those estimates. In management’s opinion, all adjustments necessary for a fair statement are reflected in the interim periods presented. | |||||||||||||
Investments | |||||||||||||
The Company invests its excess cash primarily in debt instruments of high-quality corporate and government issuers. All highly liquid instruments with maturities at the date of purchase greater than ninety days are considered investments. All instruments with maturities greater than one year from the balance sheet date are considered long-term investments unless management intends to liquidate such securities in the current operating cycle. Such securities are classified as short-term investments. These securities are classified as available-for-sale and carried at fair value. | |||||||||||||
Changes in the value of these investments are primarily related to changes in interest rates and are considered to be temporary in nature. Except for declines in fair value that are not considered temporary, net unrealized gains or losses on these investments are reported in the Unaudited Consolidated Statements of Comprehensive Loss. The Company recognizes realized gains and losses upon sale of investments using the specific identification method. | |||||||||||||
Fair Value of Financial Instruments | |||||||||||||
The Company’s estimate of fair value for assets and liabilities is based on a framework that establishes a hierarchy of the inputs used in valuation and gives the highest priority to quoted prices in active markets and requires that observable inputs be used in the valuations when available. The disclosure of fair value estimates is based on whether the significant inputs into the valuation are observable. In determining the level of the hierarchy in which the estimate is disclosed, the highest priority is given to unadjusted quoted prices in active markets and the lowest priority to unobservable inputs that reflect our significant market assumptions. The three levels of the hierarchy are as follows: | |||||||||||||
Level 1: | Unadjusted quoted market prices for identical assets or liabilities in active markets that we have the ability to access. | ||||||||||||
Level 2: | Quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets in inactive markets; or valuations based on models where the significant inputs are observable (e.g., interest rates, yield curves, default rates, etc.) or can be corroborated by observable market data. | ||||||||||||
Level 3: | Valuations based on models where significant inputs are not observable. The unobservable inputs reflect our assumptions about the assumptions that market participants would use. | ||||||||||||
Revenue Recognition | |||||||||||||
Our online search advertising revenue is composed of per-click fees that we charge customers and profit sharing arrangements we enter with Intermediaries. The per-click fee charged for keyword-targeted listings is calculated based on the results of online bidding for keywords or page content, up to a maximum cost per keyword or page content set by the customer. The Company has profit-sharing agreements with several customers that call for the sharing of profits and losses. Profit sharing arrangements are governed by contractual agreements. Revenue from these profit-sharing agreements is reported net of the customer’s share of profit. | |||||||||||||
Revenue also includes revenue share from licensing of private-labeled versions of our AdCenter Platform. | |||||||||||||
Revenues associated with online advertising products, including Advertiser Networks, are generally recognized once collectability is established, delivery of services has occurred, all performance obligations have been satisfied, and no refund obligations exist. We pay distribution network partners based on clicks on the advertiser’s ad that are displayed on the websites of these distribution network partners. These payments are called Traffic Acquisition Costs (“TAC”) and are included in cost of revenue. The revenue derived from these arrangements that involve traffic supplied by distribution network partners is reported gross of the payment to the distribution network partners. This revenue is reported gross due to the fact that we are the primary obligors to the advertisers who are the customers of the advertising service. | |||||||||||||
We also enter into agreements to provide private-labeled versions of our products, including licenses to the AdCenter platform technology. These license arrangements may include some or all of the following elements: revenue-sharing based on the publisher’s customer’s monthly revenue generated through the AdCenter application; upfront fees; minimum monthly fees; and other license fees. We recognize upfront fees over the term of the arrangement or the expected period of performance, other license fees over the term of the license, and revenue-sharing portions over the period in which such revenue is earned. In all cases, revenue is recognized only when the price is fixed or determinable, persuasive evidence of an arrangement exists, the service is performed, and collectability of the resulting receivable is reasonably assured. | |||||||||||||
We provide a provision against revenue for estimated reductions resulting from billing adjustments and customer refunds. The amounts of these provisions are evaluated periodically based upon customer experience and historical trends. The revenue allowance included in trade receivables, net is insignificant at both June 30, 2014 and December 31, 2013. | |||||||||||||
Deferred revenue is recorded when payments are received in advance of performance in underlying agreements. Customer deposits are recorded when customers make prepayments for online advertising. | |||||||||||||
The Company evaluates individual arrangements with customers to make a determination under Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 605-45 Revenue Recognition. We test and record revenue accordingly. | |||||||||||||
Allowance for Doubtful Accounts | |||||||||||||
The Company maintains an allowance for doubtful accounts for estimated losses resulting from customers failing to make required payments. This valuation allowance is reviewed on a periodic basis. The review is based on factors including the application of historical collection rates to current receivables and economic conditions. Additional allowances for doubtful accounts are considered and recorded if there is deterioration in past due balances, if economic conditions are less favorable than the Company anticipated or for customer-specific circumstances, such as bankruptcy. The allowance for doubtful accounts included in trade accounts receivable, net is $0.7 million at both June 30, 2014 and December 31, 2013. Bad debt expense included in general and administrative expense was insignificant for both the three and six months ended June 30, 2014. Bad debt expense included in general and administrative expense was $0.3 million and $0.2 million for the three and six months ended June 30, 2013, respectively. | |||||||||||||
Concentrations, Credit Risk and Credit Risk Evaluation | |||||||||||||
Concentration of Credit Risk | |||||||||||||
Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash equivalents, investments, and accounts receivable. As of June 30, 2014 and December 31, 2013, the Company placed its cash equivalents and investments primarily through one financial institution, City National Bank (“CNB”), and mitigated the concentration of credit risk by placing percentage limits on the maximum portion of the investment portfolio which may be invested in any one investment instrument. The Company also invests in fully collateralized funds with maturities of less than two years. These amounts exceed federally insured limits at June 30, 2014 and December 31, 2013. The Company has not experienced any credit losses on these cash equivalents and investment accounts and does not believe it is exposed to any significant credit risk on these funds. The fair value of these accounts is subject to fluctuation based on market prices. | |||||||||||||
Credit Risk, Customer and Vendor Evaluation | |||||||||||||
Accounts receivable are typically unsecured and are derived from sales to customers. The Company performs ongoing credit evaluations of its customers and maintains allowances for estimated credit losses. The Company applies judgment as to its ability to collect outstanding receivables based primarily on management’s evaluation of the customer’s financial condition and past collection history and records a specific allowance. In addition, the Company records an allowance based on the length of time the receivables are past due. Historically, such losses have been within management’s expectations. | |||||||||||||
The following table reflects customers that accounted for more than 10% of net accounts receivable: | |||||||||||||
June 30, | December 31, | ||||||||||||
2014 | 2013 | ||||||||||||
Company 1 | 22 | % | ** | ||||||||||
Company 2 | 18 | % | ** | ||||||||||
Company 3 | ** | 22 | % | ||||||||||
Company 4 | ** | 18 | % | ||||||||||
Company 5 | ** | 16 | % | ||||||||||
** Less than 10% | |||||||||||||
Revenue and Cost Concentrations | |||||||||||||
The following table reflects the concentration of revenue by geographic locations that accounted for more than 10% of net revenue: | |||||||||||||
Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||
United States | 92 | % | 88 | % | 93 | % | 76 | % | |||||
Europe, Middle East and Africa | ** | ** | ** | 19 | % | ||||||||
** Less than 10% | |||||||||||||
LookSmart derives its revenue from two service offerings, or “products”: Advertiser Networks and Publisher Solutions. The percentage distributions between the two service offerings are as follows: | |||||||||||||
Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||
Advertiser Networks | 88 | % | 84 | % | 91 | % | 86 | % | |||||
Publisher Solutions | 12 | % | 16 | % | 9 | % | 14 | % | |||||
The following table reflects the percentage of revenue attributed to customers who accounted for more than 10% of net revenue, all of which are Intermediaries: | |||||||||||||
Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||
Company 1 | 13 | % | ** | 12 | % | ** | |||||||
Company 2 | 10 | % | ** | 11 | % | ** | |||||||
Company 3 | 10 | % | ** | ** | ** | ||||||||
Company 4 | ** | ** | ** | 13 | % | ||||||||
** Less than 10% | |||||||||||||
The Company derives its revenue primarily from its relationships with significant distribution network partners. The following table reflects the distribution partners that accounted for more than 10% of total TAC: | |||||||||||||
Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||
Distribution Partner 1 | 20 | % | ** | 32 | % | ** | |||||||
Distribution Partner 2 | 19 | % | ** | 28 | % | ** | |||||||
Distribution Partner 3 | 22 | % | 13 | % | 21 | % | 31 | % | |||||
Distribution Partner 4 | ** | ** | ** | 12 | % | ||||||||
Distribution Partner 5 | ** | ** | ** | 11 | % | ||||||||
** Less than 10% | |||||||||||||
Property and Equipment | |||||||||||||
Property and equipment are stated at cost, except when an impairment analysis requires the use of fair value, and depreciated using the straight-line method over the estimated useful lives of the assets as follows: | |||||||||||||
Computer equipment | 3 to 4 years | ||||||||||||
Furniture and fixtures | 5 to 7 years | ||||||||||||
Software | 2 to 3 years | ||||||||||||
Building | 39 years | ||||||||||||
Leasehold improvements are amortized on a straight-line basis over the shorter of their estimated useful lives or the lease term. | |||||||||||||
When assets are retired or otherwise disposed of, the cost and accumulated depreciation and amortization are removed from their respective accounts, and any gain or loss on such sale or disposal is reflected in operating expenses. Maintenance and repairs are charged to expense as incurred. Expenditures that substantially increase an asset’s useful life are capitalized. | |||||||||||||
In the fourth quarter of 2013, the Company acquired a 10,000 square foot Data Center facility in Phoenix, Arizona. This facility has allowed the Company to consolidate its data needs in a company-owned Data Center, and should allow for the expansion of its cloud-based offerings to its customers. | |||||||||||||
Internal-Use Software Development Costs | |||||||||||||
The Company capitalizes external direct costs of materials and services consumed in developing and obtaining internal-use computer software and the payroll and payroll-related costs for employees who are directly associated with and who devote time to developing the internal-use computer software. These costs are capitalized after certain milestones have been achieved and generally amortized over a three-year period once the project is placed in service. | |||||||||||||
Management exercises judgment in determining when costs related to a project may be capitalized, in assessing the ongoing value of the capitalized costs, and in determining the amortization period for the capitalized costs, which is generally three years. The Company expects to continue to invest in internally developed software and to capitalize such costs in the future, although no such costs were capitalized in the three and six months ended June 30, 2014. | |||||||||||||
Restructuring Charges | |||||||||||||
In August 2012, the Company entered into an agreement to sublease its office space in San Francisco under terms generally equivalent to its existing commitment. Restructuring costs associated with the sub-lease of the San Francisco space, totaling $0.04 million and $0.1 million, respectively, at June 30, 2014 and December 31, 2013, are being amortized over the remaining term of the underlying lease. | |||||||||||||
Impairment of Long-Lived Assets | |||||||||||||
The Company reviews long-lived assets held or used in operations, including property and equipment and internally developed software, for impairment in accordance with ASC 360-10 “Impairment and Disposal of Long-Lived Assets”. | |||||||||||||
The Company reviews assets for evidence of impairment annually at year-end and whenever events or changes in circumstances indicate the carrying values may not be recoverable. The impairment review requires the Company to make significant estimates about its future performance and cash flows, as well as other assumptions. These estimates can be affected by numerous factors, including changes in economic, industry or market conditions, changes in business operations and changes in competition. | |||||||||||||
Traffic Acquisition Costs (“TAC”) | |||||||||||||
The Company enters into agreements of varying durations with its distribution network partners that display the Company’s listings ads on their sites in return for a percentage of the revenue-per-click that the Company receives when the ads are clicked on those partners’ sites. | |||||||||||||
The Company also enters into agreements of varying durations with third party affiliates. These affiliate agreements provide for variable payments based on a percentage of the Company’s revenue or based on a certain metric, such as number of searches or paid clicks. | |||||||||||||
TAC expense is recorded in cost of revenue. | |||||||||||||
Share-Based Compensation | |||||||||||||
The Company recognizes share-based compensation costs for all share-based payment transactions with employees, including grants of employee stock options, restricted stock awards, and employee stock purchases related to the Employee Stock Purchase Plan, over the requisite service period based on their relative fair values. We estimate the fair value of each option award on the date of grant using the Black-Scholes option valuation model. Our assumptions about stock-price volatility are based on the actual volatility of our publicly traded stock. The risk-free interest rate for periods within the contractual life of the award is based on the U.S. Treasury yield curve in effect at the time of the grant. We estimate the expected term based upon the historical exercise activity. The value of the portion of the award that is ultimately expected to vest is recognized as expense in the Company’s Consolidated Statements of Operations over the requisite service periods. Share-based compensation expense, related to stock option grants and employee stock purchases, recognized were not significant for both the three and six months ended June 30, 2014, as well as both the three and six months ended June 30, 2013. | |||||||||||||
Forfeitures are estimated at the time of grant in order to estimate the amount of share-based awards that will ultimately vest. The forfeiture rate is determined at the end of each fiscal quarter, based on historical rates. | |||||||||||||
The Company elected to adopt the alternative transition method for calculating the tax effects of share-based compensation to establish the beginning balance of the additional paid-in capital pool (“APIC pool”) related to the tax effects of employee share-based compensation, and to determine the subsequent impact on the APIC pool and Consolidated Statements of Cash Flows of the tax effects of employee share-based compensation awards. | |||||||||||||
Advertising Costs | |||||||||||||
Advertising costs are charged to sales and marketing expenses as incurred and were insignificant and $0.02 in the three and six months ended June 30, 2014, respectively. Advertising costs were insignificant in both the three and six months ended June 30, 2013. | |||||||||||||
Product Development Costs | |||||||||||||
Research of new product ideas and enhancements to existing products are charged to expense as incurred. | |||||||||||||
Income Taxes | |||||||||||||
The Company accounts for income taxes using the liability method. Under the liability method, deferred tax liabilities and assets are determined based on the difference between the financial statement and tax basis of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. Valuation allowances are established when necessary to reduce deferred tax assets to the amounts expected to be realized. The Company records liabilities, where appropriate, for all uncertain income tax positions. The Company recognizes potential accrued interest and penalties related to unrecognized tax benefits within operations as income tax expense. | |||||||||||||
Comprehensive Loss | |||||||||||||
Other comprehensive loss as of June 30, 2014 and December 31, 2013, consists of unrealized gains and losses on marketable securities categorized as available-for-sale and foreign currency translation adjustments. | |||||||||||||
Net Loss per Common Share | |||||||||||||
Basic net loss per share is calculated using the weighted average shares of common stock outstanding, excluding treasury stock. Diluted net loss per share is calculated using the weighted average number of common and potentially dilutive common shares outstanding, excluding treasury stock, during the period, using the treasury stock method for stock options. As a result of the Company’s net loss position at both June 30, 2014 and 2013, there is no dilution. | |||||||||||||
Segment Information | |||||||||||||
The Company has one operating segment, online advertising. While the Company operates under one operating segment, management reviews revenue under two product offerings—Advertiser Networks and Publisher Solutions. | |||||||||||||
As of June 30, 2014 and December 31, 2013, the Company’s accounts receivable and deferred revenue are primarily related to the online advertising segment. All long-lived assets are located in the United States and Canada. | |||||||||||||
Adoption of New Accounting Standards | |||||||||||||
On January 2, 2014 we adopted guidance issued by the Financial Accounting Standards Board (“FASB”), ASU 2013-04, “Liabilities – Obligations Resulting from Joint and Several Liability Arrangements for Which the Total Amount of the Obligation is Fixed at the Reporting Date”, an amendment providing guidance for the recognition, measurement, and disclosure of obligations resulting from joint and several liability arrangements for which the total amount of the obligation is fixed at the reporting date. Adoption of this new guidance had no impact on the Company’s consolidated financial position or results of operations. | |||||||||||||
Recent Accounting Pronouncements | |||||||||||||
In April 2014, the FASB issued Accounting Standards Update No. 2014-08 (“ASU 2014-08”) “Presentation of Financial Statements (Topic 205) and Property, Plant, and Equipment (Topic 360): Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity." ASU 2014-08 raises the threshold for a disposal to qualify as a discontinued operation and requires new disclosures of both discontinued operations and certain other disposals that do not meet the definition of a discontinued operation. It is effective for annual periods beginning on or after December 15, 2014. Early adoption is permitted but only for disposals that have not been reported in financial statements previously issued. We do not expect the impact of the adoption of ASU 2014-08 to be material to our consolidated financial statements. | |||||||||||||
In May 2014, the FASB issued Accounting Standards Update No. 2014-09 (“ASU 2014-09”) "Revenue from Contracts with Customers." ASU 2014-09 supersedes the revenue recognition requirements in “Revenue Recognition (Topic 605)”, and requires entities to recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled to in exchange for those goods or services. ASU 2014-09 is effective for annual reporting periods beginning after December 15, 2016, including interim periods within that reporting period. Early adoption is not permitted. We are currently in the process of evaluating the impact of the adoption of ASU 2014-09 on our consolidated financial statements. | |||||||||||||
Cash_and_Available_for_Sale_Se
Cash and Available for Sale Securities | 6 Months Ended | |||||||
Jun. 30, 2014 | ||||||||
Cash and Available for Sale Securities [Abstract] | ' | |||||||
Cash And Cash Equivalents Investment [Text Block] | ' | |||||||
2. Cash and Available for Sale Securities | ||||||||
The following table summarizes the Company’s cash and available-for-sale securities’ amortized cost and estimated fair value by significant investment category as of June 30, 2014, and December 31, 2013 (in thousands): | ||||||||
Amortized Cost and Estimated | ||||||||
Fair Value | ||||||||
June 30, | December 31, | |||||||
2014 | 2013 | |||||||
Cash and cash equivalents: | ||||||||
Cash | $ | 828 | $ | 1,048 | ||||
Cash equivalents | ||||||||
Money market mutual funds | 310 | 1,641 | ||||||
Commercial paper | 1,000 | 100 | ||||||
Total cash equivalents | 1,310 | 1,741 | ||||||
Total cash and cash equivalents | 2,138 | 2,789 | ||||||
Short-term investments: | ||||||||
Corporate bonds | - | 501 | ||||||
Certificates of deposit | 123 | 800 | ||||||
Commercial paper | - | 500 | ||||||
Other commodities | 72 | - | ||||||
Collateralized debt obligations | 320 | 1,301 | ||||||
Total short-term investments | 515 | 3,102 | ||||||
Long-term investments: | ||||||||
Certificates of deposit | - | 154 | ||||||
Total long-term investments | - | 154 | ||||||
Total cash, and cash equivalents, short-term and long-term investments | $ | 2,653 | $ | 6,045 | ||||
Realized gains and losses were not significant for either of the three and six months ended June 30, 2014 and 2013. As of June 30, 2014, and December 31, 2013, unrealized gains or losses on investments were $0.03 and insignificant, respectively. The cost of all securities sold is based on the specific identification method. | ||||||||
The contractual maturities of cash equivalents and short-term investments at June 30, 2014, and December 31, 2013, were less than one year. There were no long-term investments at June 30, 2014. The contractual maturity of long-term investments was just over one year as of December 31, 2013. | ||||||||
The Company typically invests in highly rated securities and its policy generally limits the amount of credit exposure to any one issuer. When evaluating the investments for other-than-temporary impairment, the Company reviews such factors as the length of time and extent to which fair value has been below cost basis, the financial condition of the issuer, and the Company’s intent to sell, or whether it is more likely than not it will be required to sell the investment before recovery of the investment’s amortized cost basis. During the three and six months ended June 30, 2014 and 2013, the Company did not recognize any impairment charges on outstanding investments. As of June 30, 2014, the Company does not consider any of its investments to be other-than-temporarily impaired. | ||||||||
Property_and_Equipment
Property and Equipment | 6 Months Ended | |||||||||||||||||||
Jun. 30, 2014 | ||||||||||||||||||||
Property and Equipment [Abstract] | ' | |||||||||||||||||||
Property, Plant and Equipment Disclosure [Text Block] | ' | |||||||||||||||||||
3. Property and Equipment | ||||||||||||||||||||
Property and equipment consist of the following at June 30, 2014, and December 31, 2013 (in thousands): | ||||||||||||||||||||
June 30, 2014 | December 31, 2013 | |||||||||||||||||||
Cost | Accumulated | Net Book | Cost | Accumulated | Net Book | |||||||||||||||
Depreciation | Value | Depreciation | Value | |||||||||||||||||
Computer equipment | $ | 1,109 | $ | -461 | $ | 648 | $ | 490 | $ | -244 | $ | 246 | ||||||||
Furniture and fixtures | 22 | -3 | 19 | 21 | -1 | 20 | ||||||||||||||
Software | 2,977 | -743 | 2,234 | 2,962 | -246 | 2,716 | ||||||||||||||
Leasehold improvements | 73 | -12 | 61 | 59 | -4 | 55 | ||||||||||||||
Land and Buildings | 1,339 | -13 | 1,326 | 797 | -3 | 794 | ||||||||||||||
Total | $ | 5,520 | $ | -1,232 | $ | 4,288 | $ | 4,329 | $ | -498 | $ | 3,831 | ||||||||
Depreciation expense on property and equipment for the three and six months ended June 30, 2014, including property and equipment under capital lease at June 30, 2014, was $0.4 million and $0.7 million, respectively, and is recorded in operating expenses. Depreciation expense on property and equipment for the three and six months ended June 30, 2013, was $0.06 million and $0.1 million, respectively, and is recorded in operating expenses. Equipment under capital lease at June 30, 2014 totaled $0.2 million. There was no equipment under capital lease at June 30, 2013. | ||||||||||||||||||||
In November of 2013, LookSmart acquired an approximate 10,000 square foot Data Center facility in Phoenix, Arizona. By the end of November 2013, LookSmart completed the process of consolidating its cloud services into this Data Center. As a result, the Company intends to expand its cloud based offerings to its customers. | ||||||||||||||||||||
Other_Assets
Other Assets | 6 Months Ended | |||||||||||||||||||
Jun. 30, 2014 | ||||||||||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | |||||||||||||||||||
Intangible Assets Disclosure [Text Block] | ' | |||||||||||||||||||
4. Other Assets | ||||||||||||||||||||
The Company’s other assets are as follows at June 30, 2014, and December 31, 2013 (in thousands): | ||||||||||||||||||||
June 30, 2014 | December 31, 2013 | |||||||||||||||||||
Gross Amount | Accumulated | Net Book | Gross Amount | Accumulated | Net Book | |||||||||||||||
Amortization | Value | Amortization | Value | |||||||||||||||||
Other assets | 85 | - | 85 | 87 | - | 87 | ||||||||||||||
Total | $ | 85 | $ | - | $ | 85 | $ | 87 | $ | - | $ | 87 | ||||||||
Accrued_Liabilities
Accrued Liabilities | 6 Months Ended | |||||||
Jun. 30, 2014 | ||||||||
Accrued Liabilities [Abstract] | ' | |||||||
Accounts Payable and Accrued Liabilities Disclosure [Text Block] | ' | |||||||
5. Accrued Liabilities | ||||||||
Accrued liabilities consisted of the following as of June 30, 2014, and December 31, 2013 (in thousands): | ||||||||
June 30, | December 31, | |||||||
2014 | 2013 | |||||||
Accrued distribution and partner costs | $ | 171 | $ | 176 | ||||
Accrued compensation and related expenses | 82 | 87 | ||||||
Accrued professional service fees | 82 | 146 | ||||||
Other | 7 | 35 | ||||||
Total accrued liabilities | $ | 342 | $ | 444 | ||||
Restructuring_Charges
Restructuring Charges | 6 Months Ended |
Jun. 30, 2014 | |
Restructuring Charges [Abstract ] | ' |
Restructuring and Related Activities Disclosure [Text Block] | ' |
6. Restructuring Charges | |
In August 2012, the Company entered into an agreement to sublease its office space in San Francisco under terms generally equivalent to its existing commitment. Restructuring costs associated with the sub-lease of the San Francisco space, totaling $0.04 million and $0.1 million, respectively, at June 30, 2014 and December 31, 2013, are being amortized over the remaining term of the underlying lease. | |
Capital_Lease_and_Other_Obliga
Capital Lease and Other Obligations | 6 Months Ended | |||||||
Jun. 30, 2014 | ||||||||
Capital Lease and Other Obligations [Abstract] | ' | |||||||
Capital Leases in Financial Statements of Lessee Disclosure [Text Block] | ' | |||||||
7. Capital Lease and Other Obligations | ||||||||
Capital lease and other obligations consist of the following at June 30, 2014, and December 31, 2013 (in thousands): | ||||||||
June 30, | December 31, | |||||||
2014 | 2013 | |||||||
Capital lease obligations | $ | 86 | $ | - | ||||
Deferred rent | 134 | 186 | ||||||
Total capital lease and other obligations | 220 | 186 | ||||||
Less: current portion of capital lease obligations | -86 | - | ||||||
Capital lease and other obligations, net of current portion | $ | 134 | $ | 186 | ||||
Refer to Note 8 for future minimum payment details. | ||||||||
Capital Lease Obligations | ||||||||
City National Bank | ||||||||
We have an outstanding standby letter of credit issued by City National Bank (“CNB”) of approximately $0.1 and $0.2 million at June 30, 2014 and December 31, 2013, respectively, related to security of the subleased corporate office lease and secured by a money market account held at CNB. | ||||||||
Commitments_and_Contingencies
Commitments and Contingencies | 6 Months Ended | ||||||||||
Jun. 30, 2014 | |||||||||||
Commitments and Contingencies [Abstract] | ' | ||||||||||
Commitments and Contingencies Disclosure [Text Block] | ' | ||||||||||
8. Commitments and Contingencies | |||||||||||
As of June 30, 2014, future minimum net payments under all operating leases are as follows (in thousands): | |||||||||||
Capital | Operating | Total | |||||||||
Lease | Leases | ||||||||||
Six months ending December 31, 2014 | $ | 88 | $ | 80 | $ | 168 | |||||
Years ending December 31, | |||||||||||
2015 | - | 178 | 178 | ||||||||
2016 | - | 99 | 99 | ||||||||
2017 | - | 101 | 101 | ||||||||
2018 | - | 86 | 86 | ||||||||
Total minimum net payments | $ | 88 | $ | 544 | $ | 632 | |||||
Less: amount representing interest | -2 | ||||||||||
Present value of net minimum payments | 86 | ||||||||||
Less: current portion | -86 | ||||||||||
Long-term portion of capital lease obligations | $ | - | |||||||||
Operating Leases | |||||||||||
In August 2009, the Company entered into an agreement to sublease office space for its headquarters in San Francisco, California, under an operating lease that commenced in November 2009 and expires on December 30, 2014. In July 2012, the Company entered into an agreement to sublease this subleased office space under terms generally equivalent to its existing commitment for a term that commenced in August 2012 and expires in December 2014. | |||||||||||
In August 2013, the Company leased office space of approximately 2,341 square feet for its corporate office in San Francisco, California under a five year lease that commenced in September 2014 and expires on August 31, 2018. | |||||||||||
The Company leases office space in Los Angeles, California of approximately of 4,803 square feet. The lease expires in July 2015. | |||||||||||
The Company terminated its lease and closed its Canadian office in Kitchener in August 2013. | |||||||||||
The Company entered into a 30-month operating lease agreement for various network operating equipment beginning in the fourth quarter of 2014. | |||||||||||
Rent expense under all operating leases was $0.04 million and $0.08 million for the three and six months ended June 30, 2014, respectively. Rent expense under all operating leases was $0.02 and $0.05 million for the three and six months ended June 30, 2013, respectively. | |||||||||||
Letters of Credit | |||||||||||
We have an outstanding standby letter of credit issued by CNB of approximately $0.1 million at June 30, 2014, related to security of the subleased corporate office lease and secured by a restricted money market account held at CNB. | |||||||||||
Purchase Obligations | |||||||||||
The Company had outstanding purchase obligations of an insignificant amount relating to an open purchase order for which the Company had not received the related services or goods as of June 30, 2014. | |||||||||||
Guarantees and Indemnities | |||||||||||
During its normal course of business, the Company has made certain guarantees, indemnities and commitments under which it may be required to make payments in relation to certain transactions. These indemnities include intellectual property and other indemnities to the Company’s customers and distribution network partners in connection with the sales of its products, and indemnities to various lessors in connection with facility leases for certain claims arising from such facility or lease. | |||||||||||
Officer and Director Indemnification | |||||||||||
The Company has agreements whereby it indemnifies its officers and directors for certain events or occurrences while the officer or director is, or was, serving, at the Company’s request, in such capacity, to the maximum extent permitted under the laws of the State of Delaware. The maximum potential amount of future payments the Company could be required to make under these indemnification agreements is unlimited. However, the Company maintains directors and officers insurance coverage that may contribute, up to certain limits, a portion of any future amounts paid, for indemnification of directors and officers. The Company believes the estimated fair value of these indemnification agreements in excess of applicable insurance coverage is minimal. Historically, the Company has not incurred any losses or recorded any liabilities related to performance under these types of indemnities. | |||||||||||
Legal Proceedings | |||||||||||
On September 4, 2013, Cowen and Company, LLC filed a complaint against LookSmart with the Superior Court of California for the County of San Francisco. According to the complaint, Cowen claims that LookSmart is required by an engagement letter dated August 14, 2009 to pay Cowen a $1,000,000 "Sale Transaction Fee" as a result of the third-party tender offer for LookSmart Ltd. consummated by PEEK Investments LLC on January 14, 2013. The parties agreed to a $450,000 settlement at a June 10, 2014 mediation. This amount was subsequently paid by the Company on July 11, 2014. The Complaint and Counter Claims will be dismissed with prejudice on or before August 31, 2014. | |||||||||||
On October 3, 2013, WeBoost Media S.R.L., a Societa responsabilita ("WeBoost") filed a complaint against LookSmart with the Superior Court of California for the County of San Francisco. The matter was subsequently removed and is currently pending before the United States District Court, Northern District of California. WeBoost’s complaint asserts claims for breach of contract and extra-contractual tort and punitive damages related to "click fraud". No specific monetary amounts are indicated in the complaint. LookSmart believes the claims are meritless and intends to vigorously defend the matter. The Company is unable to presently determine the risk of loss associated with this matter. | |||||||||||
The Company is involved, from time to time, in various other legal proceedings arising from the normal course of business activities. Although the results of litigation and claims cannot be predicted with certainty, the Company does not expect resolution of these matters to have a material adverse impact on its consolidated results of operations, cash flows or financial position unless stated otherwise. However, an unfavorable resolution of a matter could, depending on its amount and timing, materially affect its results of operations, cash flows or financial position in a future period. Regardless of the outcome, litigation can have an adverse impact on the Company because of defense costs, diversion of management resources and other factors. | |||||||||||
Stockholders_Equity
Stockholders' Equity | 6 Months Ended | ||||||||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||||||||
Stockholders Equity Note [Abstract] | ' | ||||||||||||||||||||||
Stockholders Equity Note Disclosure [Text Block] | ' | ||||||||||||||||||||||
9. Stockholders’ Equity | |||||||||||||||||||||||
Share-Based Compensation | |||||||||||||||||||||||
Stock Option Plans | |||||||||||||||||||||||
In December 1997, the Company approved the 1998 Stock Option Plan (the “1998 Plan”). In June 2007, the stockholders approved the LookSmart 2007 Equity Incentive Plan (the “2007 Plan”). Under the 2007 Plan, the Company may grant incentive stock options, nonqualified stock options, stock appreciation rights and stock rights to employees, directors and consultants. Share-based incentive awards are provided under the terms of these two plans (collectively, the “Plans”). | |||||||||||||||||||||||
The Compensation Committee of the Board of Directors administers the Company’s Plans. Awards under the Plans principally include at-the-money options and fully vested restricted stock. Outstanding stock options generally become exercisable over a four-year period from the grant date and have a term of seven years. Grants can only be made under the 2007 Plan. The 1998 Plan is closed to further share issuance and all options have expired or been forfeited as of June 30, 2013. The number of shares issued or reserved for issuance under the 2007 Plan was 1.2 million and 1.4 million shares of common stock as of June 30, 2014 and December 31, 2013, respectively. There were 1.2 million shares available to be granted under the 2007 Plan at June 30, 2014. | |||||||||||||||||||||||
Share-based compensation expense recorded during three and six months ended June 30, 2014, and 2013 was included in the Company’s Unaudited Consolidated Statements of Operations as follows (in thousands): | |||||||||||||||||||||||
Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||
Sales and marketing | $ | - | $ | 1 | $ | 1 | $ | 2 | |||||||||||||||
Product development and technical operations | - | 2 | 1 | 5 | |||||||||||||||||||
General and administrative | 1 | 12 | 2 | 29 | |||||||||||||||||||
Total share-based compensation expense | $ | 1 | $ | 15 | $ | 4 | $ | 36 | |||||||||||||||
Total unrecognized share-based compensation expense related to share-based compensation arrangements at June 30, 2014 was $0.01 million and is expected to be recognized over a weighted-average period of approximately 0.91 years. The total fair value of equity awards vested during both the three and six months ended June 30, 2014, was not significant. The total fair value of equity awards vested during both the three and six months ended June 30, 2013, was $0.1 million. | |||||||||||||||||||||||
Option Awards | |||||||||||||||||||||||
Stock option activity under the Plans during the three and six months ended June 30, 2014 is as follows: | |||||||||||||||||||||||
Shares | Weighted- | Weighted- | Aggregate | ||||||||||||||||||||
Average | Average | Intrinsic | |||||||||||||||||||||
Exercise Price | Remaining | Value | |||||||||||||||||||||
Per Share | Contractual | ||||||||||||||||||||||
Term | |||||||||||||||||||||||
(in thousands) | (in years) | (in thousands) | |||||||||||||||||||||
Options outstanding at December 31, 2013 | 25 | $ | 4.16 | 4.67 | $ | - | |||||||||||||||||
Granted | - | - | |||||||||||||||||||||
Exercised | - | - | |||||||||||||||||||||
Expired | - | - | |||||||||||||||||||||
Forfeited | -6 | 3.03 | |||||||||||||||||||||
Options outstanding at March 31, 2014 | 19 | $ | 4.5 | 4.23 | - | ||||||||||||||||||
Granted | - | - | |||||||||||||||||||||
Exercised | - | - | |||||||||||||||||||||
Expired | - | - | |||||||||||||||||||||
Forfeited | -7 | 1.85 | |||||||||||||||||||||
Options outstanding at June 30, 2014 | 12 | $ | 5.13 | 3.57 | $ | - | |||||||||||||||||
Vested and expected to vest at June 30, 2014 | 12 | $ | 5.15 | 0.89 | $ | - | |||||||||||||||||
Exercisable at June 30, 2014 | 11 | $ | 5.21 | 0.85 | $ | - | |||||||||||||||||
The aggregate intrinsic values in the table above represent the total pre-tax intrinsic value (the difference between the market price of the Company’s stock on the last trading day of the period and the exercise price, multiplied by the number of in-the-money options) that would have been received by the option holder had all option holders exercised their options at quarter-end. The intrinsic value amount changes with changes in the fair market value of the Company’s stock. | |||||||||||||||||||||||
The following table summarizes information about stock options outstanding at June 30, 2014: | |||||||||||||||||||||||
Options Outstanding | Options Exercisable | ||||||||||||||||||||||
Price Ranges | Shares | Weighted- | Weighted- | Shares | Weighted- | ||||||||||||||||||
Average | Average | Average | |||||||||||||||||||||
Remaining | Exercise | Exercise | |||||||||||||||||||||
Contractual Term | Price | Price | |||||||||||||||||||||
Per Share | Per Share | ||||||||||||||||||||||
(in thousands) | (in years) | (in thousands) | |||||||||||||||||||||
$ | 2.55 | - | $ | 2.67 | 1 | 5.08 | $ | 2.65 | 1 | $ | 2.65 | ||||||||||||
4.14 | - | 5.64 | 9 | 3.87 | 4.51 | 8 | 4.53 | ||||||||||||||||
8.1 | - | 11.64 | 2 | 1.04 | 9.87 | 2 | 9.87 | ||||||||||||||||
12 | 3.57 | 5.13 | 11 | 5.21 | |||||||||||||||||||
Stock Awards | |||||||||||||||||||||||
The Company did not issue restricted stock during the three and six months ended June 30, 2014 and 2013. | |||||||||||||||||||||||
Employee Stock Purchase Plan | |||||||||||||||||||||||
On July 14, 2009, the 2009 Employee Stock Purchase Plan (the “2009 ESPP”) was approved by the shareholders and authorized to issue up to 500 thousand shares of Common Stock to employees. Substantially all employees may purchase the Company’s common stock through payroll deductions at 85 percent of the lower of the fair market value at the beginning or end of the offering period. Each offering and purchase period is six months. ESPP contributions are limited to a maximum of 15% of an employee’s eligible compensation, and ESPP participants are limited to purchasing a maximum of 5,000 shares per purchase period. Share-based compensation expense for the 2009 ESPP was zero in the three and six months ended June 30, 2014 and insignificant in the three and six months ended June 30, 2013. As of June 30, 2014, 28 thousand shares (adjusted for the 3:1 reverse split in November 2013) have been issued under the 2009 Plan. Following the February 15, 2013 purchase, the ESPP was suspended pending a review by the Company’s Board of Directors of all equity incentive arrangements. | |||||||||||||||||||||||
Share-Based Compensation Valuation Assumptions | |||||||||||||||||||||||
We estimate the fair value of each option award on the date of grant using the Black-Scholes option valuation model. Our assumptions about stock-price volatility are based on the actual volatility of our publically traded stock. The risk-free interest rate for periods within the contractual life of the award is based on the U.S. Treasury yield curve in effect at the time of the grant. We estimate the expected term based upon the historical exercise activity. | |||||||||||||||||||||||
No options were granted in the first half of 2014 or 2013, therefore no weighted average assumptions are included here. | |||||||||||||||||||||||
Share-based compensation expense recognized in the Consolidated Statements of Operations is based on awards ultimately expected to vest and has been reduced for estimated forfeitures. Forfeitures are estimated at the time of grant and revised, if necessary, in subsequent periods if actual forfeitures differ from those estimates. | |||||||||||||||||||||||
Exercise of Employee and Director Stock Options and Purchase Plans | |||||||||||||||||||||||
There were no options exercised in both the three and six months ended June 30, 2014 and 2013. The Company issues new shares of common stock upon exercise of stock options. No income tax benefits have been realized from exercised stock options. | |||||||||||||||||||||||
Repurchase of Equity Securities by the Company | |||||||||||||||||||||||
In May 2012, the Company's Board of Directors authorized the repurchase of up to $1 million of the Company's common shares. Under the program, the Company may purchase its common shares from time to time in the open market or in privately negotiated transactions. | |||||||||||||||||||||||
Approximately 43 thousand shares were purchased during the three months ended June 30, 2014, at an average price of $1.86 per share under the program and recorded as Treasury Stock at cost totaling approximately $81 thousand dollars. Approximately 13 thousand shares were purchased at an average price of $2.01 per share under the program in the year ended December 31, 2013, and recorded as Treasury Stock at cost totaling approximately $26 thousand dollars. | |||||||||||||||||||||||
Fair_Value_Measurements
Fair Value Measurements | 6 Months Ended | |||||||||||||
Jun. 30, 2014 | ||||||||||||||
Fair Value Measurements [Abstract] | ' | |||||||||||||
Fair Value Disclosures [Text Block] | ' | |||||||||||||
10. Fair Value Measurements | ||||||||||||||
Fair Value of Financial Assets | ||||||||||||||
The Company’s financial assets measured at fair value on a recurring basis subject to disclosure requirements at June 30, 2014, and December 31, 2013 were as follows (in thousands): | ||||||||||||||
Balance at | Quoted Prices | Significant | Significant | |||||||||||
June 30, 2014 | in Active | Other | Unobserved | |||||||||||
Markets for | Observable Inputs | Inputs | ||||||||||||
Identical Assets | (Level 2) | (Level 3) | ||||||||||||
(Level 1) | ||||||||||||||
Cash equivalents: | ||||||||||||||
Money market mutual funds | $ | 310 | $ | 310 | $ | - | $ | - | ||||||
Commercial paper | 1,000 | - | 1,000 | - | ||||||||||
Total cash equivalents | 1,310 | 310 | 1,000 | - | ||||||||||
Short-term investments: | ||||||||||||||
Certificates of deposit | 123 | - | 123 | - | ||||||||||
Other commodities | 72 | - | 72 | - | ||||||||||
Commercial paper | 0 | - | - | - | ||||||||||
Collateralized debt securities | 320 | - | - | 320 | ||||||||||
Total short-term investments | 515 | - | 195 | 320 | ||||||||||
Total financial assets measured at fair value | $ | 1,825 | $ | 310 | $ | 1,195 | $ | 320 | ||||||
Balance at | Quoted Prices | Significant | Significant | |||||||||||
December 31, 2013 | in Active | Other | Unobserved | |||||||||||
Markets for | Observable | Inputs | ||||||||||||
Identical Assets | Inputs | (Level 3) | ||||||||||||
(Level 1) | (Level 2) | |||||||||||||
Cash equivalents: | ||||||||||||||
Money market mutual funds | $ | 1,641 | $ | 1,641 | $ | - | $ | - | ||||||
Commercial paper | 100 | - | 100 | - | ||||||||||
Total cash equivalents | 1,741 | 1,641 | 100 | - | ||||||||||
Short-term investments: | ||||||||||||||
Certificates of deposit | 800 | - | 800 | - | ||||||||||
Corporate bonds | 501 | - | 501 | - | ||||||||||
Commercial paper | 500 | - | 500 | - | ||||||||||
Collateralized debt securities | 1,301 | - | - | 1,301 | ||||||||||
Total short-term investments | 3,102 | - | 1,801 | 1,301 | ||||||||||
Long-term investments: | ||||||||||||||
Certificates of deposit | 154 | - | 154 | - | ||||||||||
Total long-term investments | 154 | - | 154 | - | ||||||||||
Total financial assets measured at fair value | $ | 4,997 | $ | 1,641 | $ | 2,055 | $ | 1,301 | ||||||
The Company held approximately $0.3 million and $1.3 million in Level 3 investments at June 30, 2014 and December 31, 2013, respectively. | ||||||||||||||
Investments | ||||||||||||||
For investments that have quoted market prices in active markets, the Company uses the quoted market prices as fair value and includes these prices in the amounts disclosed in Level 1 of the hierarchy. The Company receives the quoted market prices from a third party, nationally recognized pricing service (“pricing service”). When quoted market prices are unavailable, the Company utilizes a pricing service to determine a single estimate of fair value, which is mainly for its fixed maturity investments. The fair value estimates provided from this pricing service are included in the amount disclosed in Level 2 of the hierarchy. The Company bases all of its estimates of fair value for assets on the bid price as it represents what a third party market participant would be willing to pay in an arm’s length transaction. | ||||||||||||||
The Company validates the prices received from the pricing service using various methods including, applicability of Federal Deposit Insurance Corporation or other national government insurance or guarantees, comparison of proceeds received on individual investments subsequent to reporting date, prices received from publicly available sources, and review of transaction volume data to confirm the presence of active markets. The Company does not adjust the prices received from the pricing service unless such prices are determined to be inconsistent. At June 30, 2014 and December 31, 2013, the Company did not adjust prices received from the pricing service. | ||||||||||||||
On June 1, 2013 the Company invested approximately $2.0 million in a fully collateralized fund with a maturity date of September 30, 2014. The investment generally entitles the Company to monthly payments of principal and interest, subject to certain restrictions. From inception through June 30, 2014, the Company has received payments of $1.9 million, comprised of $1.7 million in principal and $0.3 million in interest. The investment is recorded at amortized cost, reduced for non-temporary losses charged to earnings. No non-temporary losses were recognized by the Company as of and for the periods since the date of investment. As of June 30, 2014, and December 31, 2013, the aggregate fair value of the investment was approximately $0.3 million and $1.3 million, respectively. | ||||||||||||||
Level 3 Assets – Roll forward (in thousands): | ||||||||||||||
Fair Value | ||||||||||||||
Measurements | ||||||||||||||
Using | ||||||||||||||
Significant | ||||||||||||||
Unobservable | ||||||||||||||
Inputs (Level 3) | ||||||||||||||
Collateralized | ||||||||||||||
Debt Securities | ||||||||||||||
Balance at December 31, 2013 | $ | 1,301 | ||||||||||||
Transfers into Level 3 | - | |||||||||||||
Transfers out of Level 3 | - | |||||||||||||
Total gains or losses | ||||||||||||||
Included in earnings (or | 47 | |||||||||||||
changes in net assets) | ||||||||||||||
Included in Other | - | |||||||||||||
comprehensive income | ||||||||||||||
Purchases, issuances, sales, | ||||||||||||||
and settlements | ||||||||||||||
Purchases | - | |||||||||||||
Issuances | - | |||||||||||||
Sales | - | |||||||||||||
Settlements | -541 | |||||||||||||
Balance at March 31, 2014 | $ | 807 | ||||||||||||
Transfers into Level 3 | - | |||||||||||||
Transfers out of Level 3 | - | |||||||||||||
Total gains or losses | ||||||||||||||
Included in earnings (or | 26 | |||||||||||||
changes in net assets) | ||||||||||||||
Included in Other | - | |||||||||||||
comprehensive income | ||||||||||||||
Purchases, issuances, sales, | ||||||||||||||
and settlements | ||||||||||||||
Purchases | - | |||||||||||||
Issuances | - | |||||||||||||
Sales | - | |||||||||||||
Settlements | -513 | |||||||||||||
Balance at June 30, 2014 | $ | 320 | ||||||||||||
Trade accounts receivable, net: The carrying value reported in the Consolidated Balance Sheets approximates fair value and is net of allowances for doubtful accounts and returns which estimate customer non-performance risk. | ||||||||||||||
Trade accounts payable and accrued liabilities: The carrying value reported in the Consolidated Balance Sheets for these items approximates their fair value, which is the likely amount that the liability with short settlement periods would be transferred to a market participant with a similar credit standing as the Company. | ||||||||||||||
Summary_of_Significant_Account1
Summary of Significant Accounting Policies (Policies) | 6 Months Ended | ||||||||||||
Jun. 30, 2014 | |||||||||||||
Summary of Significant Accounting Policies [Abstract] | ' | ||||||||||||
Nature of Business [Policy Text Block] | ' | ||||||||||||
Nature of Business | |||||||||||||
LookSmart, Ltd. (“LookSmart” or the “Company”) provides its customers with search, social, display, mobile and video advertising solutions as well as analytic, moderation and publishing workflow solutions across the entire social media marketing ecosystem. The customers of Looksmart range from small and medium-sized businesses to large Fortune 50 companies. LookSmart was organized in 1996 and is incorporated in the State of Delaware. | |||||||||||||
LookSmart’s search advertising network generates advertisements that target search intent queries on Looksmart.com and partner publisher sites. The network offers search advertising customers targeted search through a monitored search advertising distribution network using the Company’s “AdCenter” platform technology. The advertisers that comprise the Company’s network include intermediaries, direct advertising customers and their agencies, as well as self-service customers in the United States and certain other countries. | |||||||||||||
Self-service advertisers are customers that sign-up directly online with the Company and pay by credit card. Direct advertisers (and their agencies) include customers whose main objective is to obtain conversions or sales from clicks. Intermediary customers do not directly advertise on our platform but sell into the affiliate networks of the large search engine providers (“Intermediaries”). | |||||||||||||
LookSmart also offers advertisers the ability to buy graphical display advertising. LookSmart’s trading desk personnel utilize Demand Side Platform (“DSP”) technology and licensed data from third party providers to purchase targeted advertising on a real-time bidded basis. By leveraging our extensive historical search marketing network data along with performance data from a conversion pixel, LookSmart constructs models of the highest performing audiences and targets them via exchange inventory. LookSmart offers its trading desk as a managed service. | |||||||||||||
In addition, Looksmart, under its “Clickable” and “Syncapse” brands, allows customers to manage paid, owned and earned media by providing a suite of solutions for social media marketers that include publishing, monitoring, data storage, compliance, management, ad placement and analytics. The “Clickable Analytics” dashboard provides customers with the ability to easily put all their cross channel marketing (search, display, social, email, video, offline) and audience data from various sources into one unified, flexible and customizable platform. The platform allows the customer to better understand and utilize the data for the customizing and layering of customer specific key performance indicators. The Company believes that this platform will allow customers to combine data in a way that better suits their particular marketing, financial and operational goals both with standard and customized dashboards and analytics. This platform allows companies to gather and manage Application Programming Interface (“API”) data from many data providers including Facebook, Twitter, YouTube, and Instagram, as well as analyze such data in the “Clickable” proprietary platform and within a company’s own data warehouse. | |||||||||||||
Further, LookSmart offers publishers licensed private-label search advertiser network solutions based on its AdCenter platform technology (“Publisher Solutions”). Publisher Solutions consist of hosted auction-based ad serving with an ad backfill capability that allows publishers and portals to manage their advertiser relationships, distribution channels and accounts. | |||||||||||||
Lastly, starting in the fourth quarter of 2013, the Company began to offer a LookSmart-branded search engine. For parties submitting search queries, the Company offers free-of-charge search results ranked and presented based on proprietary algorithms. While early in its evolution, part of the Company’s current search engine monetization strategy is to generate sponsored search results as a part of overall search results and provide links to paying advertisers’ websites. | |||||||||||||
In 2013, the Company made the decision to decrease the amount of revenue that it received from Intermediaries compared to 2012. Decreasing Intermediary revenue represented a continued trend from 2012 and was the primary driver of the Company’s overall 2013 revenue decreases. The Company believes its revenue trends are tied to market-wide changes in the search ecosystem that have had a severe impact on Intermediary business models and consequently the business Intermediaries conduct with us. In both 2013 and 2012, we ceased business with a number of Intermediaries. | |||||||||||||
In September 2013, LookSmart purchased the assets related to its Syncapse technology for $3 million from MNP Ltd., a receiver appointed by Ontario Superior Court of Justice under an appointment order. As a result of this transaction, the Company acquired a social media platform that allows enterprise customers the ability to publish, monitor and analyze their social media presence on paid, owned and earned media. The Company has begun to work with large international brands to assist them in creating, maintaining and analyzing their social media presence online. As a result of the Syncapse asset purchase, the Company is expanding its offerings to our current customer base. Our expanded offering allows LookSmart’s traditional customers the ability to manage ad spend in both search and social platforms. The Company’s goal is to partner with social media companies such as Facebook, Twitter, Pinterest and YouTube, as well as others, to offer customers the ability to maximize their ad spend in all relevant ad categories. | |||||||||||||
In November of 2013, LookSmart acquired an approximate 10,000 square foot Data Center facility in Phoenix, Arizona. Looksmart has completed the process of consolidating its cloud services in the newly occupied and wholly owned secure Data Center. As a result, the Company intends to expand its cloud-based offerings to its customers. | |||||||||||||
In March 2014, the company formed a joint venture, Conversion Media Holdings, LLC, a Delaware Limited Liability Corporation, to create content sites directed at ecommerce verticals like housewares, electronics and other consumer products. The operations began in April of 2014 and currently are in a testing phase. | |||||||||||||
Consolidation, Policy [Policy Text Block] | ' | ||||||||||||
Principles of Consolidation | |||||||||||||
The Unaudited Consolidated Financial Statements as of June 30, 2014 and December 31, 2013, and for the three and six months ended June 30, 2014 and 2013, include the accounts of the Company and its subsidiaries. All significant inter-company balances and transactions have been eliminated in consolidation. | |||||||||||||
Unaudited Interim Financial Information [Policy Text Block] | ' | ||||||||||||
Unaudited Interim Financial Information | |||||||||||||
The accompanying Unaudited Consolidated Financial Statements as of June 30, 2014, and for the three and six months ended June 30, 2014 and 2013, reflect all adjustments that are normal and recurring in nature and, in the opinion of management, are necessary for a fair representation of the Company’s financial position as of June 30, 2014 and the results of operations for the periods shown. These Unaudited Consolidated Financial Statements should be read in conjunction with the Company’s Consolidated Financial Statements and Notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2013 (“Annual Report”). The Consolidated Balance Sheet as of December 31, 2013 has been derived from the audited financial statements at that date, but does not include all of the information and footnotes required by accounting principles generally accepted in the United States (“GAAP”) for complete financial statements. The results of operations for the interim period ended June 30, 2014 are not necessarily indicative of results to be expected for the full year. | |||||||||||||
Use of Estimates, Policy [Policy Text Block] | ' | ||||||||||||
Use of Estimates and Assumptions | |||||||||||||
The Unaudited Consolidated Financial Statements have been prepared in conformity with accounting principles generally accepted in the United States (“GAAP”). This requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, revenue, expenses, and contingent assets and liabilities during the reporting period. The Company bases its estimates on various factors and information which may include, but are not limited to, history and prior experience, experience of other enterprises in the same industry, new related events, and current economic conditions and information from third party professionals that is believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results could differ from those estimates. In management’s opinion, all adjustments necessary for a fair statement are reflected in the interim periods presented. | |||||||||||||
Investment, Policy [Policy Text Block] | ' | ||||||||||||
Investments | |||||||||||||
The Company invests its excess cash primarily in debt instruments of high-quality corporate and government issuers. All highly liquid instruments with maturities at the date of purchase greater than ninety days are considered investments. All instruments with maturities greater than one year from the balance sheet date are considered long-term investments unless management intends to liquidate such securities in the current operating cycle. Such securities are classified as short-term investments. These securities are classified as available-for-sale and carried at fair value. | |||||||||||||
Changes in the value of these investments are primarily related to changes in interest rates and are considered to be temporary in nature. Except for declines in fair value that are not considered temporary, net unrealized gains or losses on these investments are reported in the Unaudited Consolidated Statements of Comprehensive Loss. The Company recognizes realized gains and losses upon sale of investments using the specific identification method. | |||||||||||||
Fair Value of Financial Instruments, Policy [Policy Text Block] | ' | ||||||||||||
Fair Value of Financial Instruments | |||||||||||||
The Company’s estimate of fair value for assets and liabilities is based on a framework that establishes a hierarchy of the inputs used in valuation and gives the highest priority to quoted prices in active markets and requires that observable inputs be used in the valuations when available. The disclosure of fair value estimates is based on whether the significant inputs into the valuation are observable. In determining the level of the hierarchy in which the estimate is disclosed, the highest priority is given to unadjusted quoted prices in active markets and the lowest priority to unobservable inputs that reflect our significant market assumptions. The three levels of the hierarchy are as follows: | |||||||||||||
Level 1: | Unadjusted quoted market prices for identical assets or liabilities in active markets that we have the ability to access. | ||||||||||||
Level 2: | Quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets in inactive markets; or valuations based on models where the significant inputs are observable (e.g., interest rates, yield curves, default rates, etc.) or can be corroborated by observable market data. | ||||||||||||
Level 3: | Valuations based on models where significant inputs are not observable. The unobservable inputs reflect our assumptions about the assumptions that market participants would use. | ||||||||||||
Revenue Recognition, Policy [Policy Text Block] | ' | ||||||||||||
Revenue Recognition | |||||||||||||
Our online search advertising revenue is composed of per-click fees that we charge customers and profit sharing arrangements we enter with Intermediaries. The per-click fee charged for keyword-targeted listings is calculated based on the results of online bidding for keywords or page content, up to a maximum cost per keyword or page content set by the customer. The Company has profit-sharing agreements with several customers that call for the sharing of profits and losses. Profit sharing arrangements are governed by contractual agreements. Revenue from these profit-sharing agreements is reported net of the customer’s share of profit. | |||||||||||||
Revenue also includes revenue share from licensing of private-labeled versions of our AdCenter Platform. | |||||||||||||
Revenues associated with online advertising products, including Advertiser Networks, are generally recognized once collectability is established, delivery of services has occurred, all performance obligations have been satisfied, and no refund obligations exist. We pay distribution network partners based on clicks on the advertiser’s ad that are displayed on the websites of these distribution network partners. These payments are called Traffic Acquisition Costs (“TAC”) and are included in cost of revenue. The revenue derived from these arrangements that involve traffic supplied by distribution network partners is reported gross of the payment to the distribution network partners. This revenue is reported gross due to the fact that we are the primary obligors to the advertisers who are the customers of the advertising service. | |||||||||||||
We also enter into agreements to provide private-labeled versions of our products, including licenses to the AdCenter platform technology. These license arrangements may include some or all of the following elements: revenue-sharing based on the publisher’s customer’s monthly revenue generated through the AdCenter application; upfront fees; minimum monthly fees; and other license fees. We recognize upfront fees over the term of the arrangement or the expected period of performance, other license fees over the term of the license, and revenue-sharing portions over the period in which such revenue is earned. In all cases, revenue is recognized only when the price is fixed or determinable, persuasive evidence of an arrangement exists, the service is performed, and collectability of the resulting receivable is reasonably assured. | |||||||||||||
We provide a provision against revenue for estimated reductions resulting from billing adjustments and customer refunds. The amounts of these provisions are evaluated periodically based upon customer experience and historical trends. The revenue allowance included in trade receivables, net is insignificant at both June 30, 2014 and December 31, 2013. | |||||||||||||
Deferred revenue is recorded when payments are received in advance of performance in underlying agreements. Customer deposits are recorded when customers make prepayments for online advertising. | |||||||||||||
The Company evaluates individual arrangements with customers to make a determination under Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 605-45 Revenue Recognition. We test and record revenue accordingly. | |||||||||||||
Trade and Other Accounts Receivable, Policy [Policy Text Block] | ' | ||||||||||||
Allowance for Doubtful Accounts | |||||||||||||
The Company maintains an allowance for doubtful accounts for estimated losses resulting from customers failing to make required payments. This valuation allowance is reviewed on a periodic basis. The review is based on factors including the application of historical collection rates to current receivables and economic conditions. Additional allowances for doubtful accounts are considered and recorded if there is deterioration in past due balances, if economic conditions are less favorable than the Company anticipated or for customer-specific circumstances, such as bankruptcy. The allowance for doubtful accounts included in trade accounts receivable, net is $0.7 million at both June 30, 2014 and December 31, 2013. Bad debt expense included in general and administrative expense was insignificant for both the three and six months ended June 30, 2014. Bad debt expense included in general and administrative expense was $0.3 million and $0.2 million for the three and six months ended June 30, 2013, respectively. | |||||||||||||
Concentration Risk, Credit Risk, Policy [Policy Text Block] | ' | ||||||||||||
Concentrations, Credit Risk and Credit Risk Evaluation | |||||||||||||
Concentration of Credit Risk | |||||||||||||
Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash equivalents, investments, and accounts receivable. As of June 30, 2014 and December 31, 2013, the Company placed its cash equivalents and investments primarily through one financial institution, City National Bank (“CNB”), and mitigated the concentration of credit risk by placing percentage limits on the maximum portion of the investment portfolio which may be invested in any one investment instrument. The Company also invests in fully collateralized funds with maturities of less than two years. These amounts exceed federally insured limits at June 30, 2014 and December 31, 2013. The Company has not experienced any credit losses on these cash equivalents and investment accounts and does not believe it is exposed to any significant credit risk on these funds. The fair value of these accounts is subject to fluctuation based on market prices. | |||||||||||||
Credit Risk, Customer and Vendor Evaluation | |||||||||||||
Accounts receivable are typically unsecured and are derived from sales to customers. The Company performs ongoing credit evaluations of its customers and maintains allowances for estimated credit losses. The Company applies judgment as to its ability to collect outstanding receivables based primarily on management’s evaluation of the customer’s financial condition and past collection history and records a specific allowance. In addition, the Company records an allowance based on the length of time the receivables are past due. Historically, such losses have been within management’s expectations. | |||||||||||||
The following table reflects customers that accounted for more than 10% of net accounts receivable: | |||||||||||||
June 30, | December 31, | ||||||||||||
2014 | 2013 | ||||||||||||
Company 1 | 22 | % | ** | ||||||||||
Company 2 | 18 | % | ** | ||||||||||
Company 3 | ** | 22 | % | ||||||||||
Company 4 | ** | 18 | % | ||||||||||
Company 5 | ** | 16 | % | ||||||||||
** Less than 10% | |||||||||||||
Revenue and Cost Concentrations | |||||||||||||
The following table reflects the concentration of revenue by geographic locations that accounted for more than 10% of net revenue: | |||||||||||||
Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||
United States | 92 | % | 88 | % | 93 | % | 76 | % | |||||
Europe, Middle East and Africa | ** | ** | ** | 19 | % | ||||||||
** Less than 10% | |||||||||||||
LookSmart derives its revenue from two service offerings, or “products”: Advertiser Networks and Publisher Solutions. The percentage distributions between the two service offerings are as follows: | |||||||||||||
Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||
Advertiser Networks | 88 | % | 84 | % | 91 | % | 86 | % | |||||
Publisher Solutions | 12 | % | 16 | % | 9 | % | 14 | % | |||||
The following table reflects the percentage of revenue attributed to customers who accounted for more than 10% of net revenue, all of which are Intermediaries: | |||||||||||||
Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||
Company 1 | 13 | % | ** | 12 | % | ** | |||||||
Company 2 | 10 | % | ** | 11 | % | ** | |||||||
Company 3 | 10 | % | ** | ** | ** | ||||||||
Company 4 | ** | ** | ** | 13 | % | ||||||||
** Less than 10% | |||||||||||||
The Company derives its revenue primarily from its relationships with significant distribution network partners. The following table reflects the distribution partners that accounted for more than 10% of total TAC: | |||||||||||||
Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||
Distribution Partner 1 | 20 | % | ** | 32 | % | ** | |||||||
Distribution Partner 2 | 19 | % | ** | 28 | % | ** | |||||||
Distribution Partner 3 | 22 | % | 13 | % | 21 | % | 31 | % | |||||
Distribution Partner 4 | ** | ** | ** | 12 | % | ||||||||
Distribution Partner 5 | ** | ** | ** | 11 | % | ||||||||
** Less than 10% | |||||||||||||
Property, Plant and Equipment, Policy [Policy Text Block] | ' | ||||||||||||
Property and Equipment | |||||||||||||
Property and equipment are stated at cost, except when an impairment analysis requires the use of fair value, and depreciated using the straight-line method over the estimated useful lives of the assets as follows: | |||||||||||||
Computer equipment | 3 to 4 years | ||||||||||||
Furniture and fixtures | 5 to 7 years | ||||||||||||
Software | 2 to 3 years | ||||||||||||
Building | 39 years | ||||||||||||
Leasehold improvements are amortized on a straight-line basis over the shorter of their estimated useful lives or the lease term. | |||||||||||||
When assets are retired or otherwise disposed of, the cost and accumulated depreciation and amortization are removed from their respective accounts, and any gain or loss on such sale or disposal is reflected in operating expenses. Maintenance and repairs are charged to expense as incurred. Expenditures that substantially increase an asset’s useful life are capitalized. | |||||||||||||
In the fourth quarter of 2013, the Company acquired a 10,000 square foot Data Center facility in Phoenix, Arizona. This facility has allowed the Company to consolidate its data needs in a company-owned Data Center, and should allow for the expansion of its cloud-based offerings to its customers. | |||||||||||||
Internal Use Software, Policy [Policy Text Block] | ' | ||||||||||||
Internal-Use Software Development Costs | |||||||||||||
The Company capitalizes external direct costs of materials and services consumed in developing and obtaining internal-use computer software and the payroll and payroll-related costs for employees who are directly associated with and who devote time to developing the internal-use computer software. These costs are capitalized after certain milestones have been achieved and generally amortized over a three-year period once the project is placed in service. | |||||||||||||
Management exercises judgment in determining when costs related to a project may be capitalized, in assessing the ongoing value of the capitalized costs, and in determining the amortization period for the capitalized costs, which is generally three years. The Company expects to continue to invest in internally developed software and to capitalize such costs in the future, although no such costs were capitalized in the three and six months ended June 30, 2014. | |||||||||||||
Costs Associated with Exit or Disposal Activities or Restructurings, Policy [Policy Text Block] | ' | ||||||||||||
Restructuring Charges | |||||||||||||
In August 2012, the Company entered into an agreement to sublease its office space in San Francisco under terms generally equivalent to its existing commitment. Restructuring costs associated with the sub-lease of the San Francisco space, totaling $0.04 million and $0.1 million, respectively, at June 30, 2014 and December 31, 2013, are being amortized over the remaining term of the underlying lease. | |||||||||||||
Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block] | ' | ||||||||||||
Impairment of Long-Lived Assets | |||||||||||||
The Company reviews long-lived assets held or used in operations, including property and equipment and internally developed software, for impairment in accordance with ASC 360-10 “Impairment and Disposal of Long-Lived Assets”. | |||||||||||||
The Company reviews assets for evidence of impairment annually at year-end and whenever events or changes in circumstances indicate the carrying values may not be recoverable. The impairment review requires the Company to make significant estimates about its future performance and cash flows, as well as other assumptions. These estimates can be affected by numerous factors, including changes in economic, industry or market conditions, changes in business operations and changes in competition. | |||||||||||||
Cost of Sales, Policy [Policy Text Block] | ' | ||||||||||||
Traffic Acquisition Costs (“TAC”) | |||||||||||||
The Company enters into agreements of varying durations with its distribution network partners that display the Company’s listings ads on their sites in return for a percentage of the revenue-per-click that the Company receives when the ads are clicked on those partners’ sites. | |||||||||||||
The Company also enters into agreements of varying durations with third party affiliates. These affiliate agreements provide for variable payments based on a percentage of the Company’s revenue or based on a certain metric, such as number of searches or paid clicks. | |||||||||||||
TAC expense is recorded in cost of revenue. | |||||||||||||
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block] | ' | ||||||||||||
Share-Based Compensation | |||||||||||||
The Company recognizes share-based compensation costs for all share-based payment transactions with employees, including grants of employee stock options, restricted stock awards, and employee stock purchases related to the Employee Stock Purchase Plan, over the requisite service period based on their relative fair values. We estimate the fair value of each option award on the date of grant using the Black-Scholes option valuation model. Our assumptions about stock-price volatility are based on the actual volatility of our publicly traded stock. The risk-free interest rate for periods within the contractual life of the award is based on the U.S. Treasury yield curve in effect at the time of the grant. We estimate the expected term based upon the historical exercise activity. The value of the portion of the award that is ultimately expected to vest is recognized as expense in the Company’s Consolidated Statements of Operations over the requisite service periods. Share-based compensation expense, related to stock option grants and employee stock purchases, recognized were not significant for both the three and six months ended June 30, 2014, as well as both the three and six months ended June 30, 2013. | |||||||||||||
Forfeitures are estimated at the time of grant in order to estimate the amount of share-based awards that will ultimately vest. The forfeiture rate is determined at the end of each fiscal quarter, based on historical rates. | |||||||||||||
The Company elected to adopt the alternative transition method for calculating the tax effects of share-based compensation to establish the beginning balance of the additional paid-in capital pool (“APIC pool”) related to the tax effects of employee share-based compensation, and to determine the subsequent impact on the APIC pool and Consolidated Statements of Cash Flows of the tax effects of employee share-based compensation awards. | |||||||||||||
Advertising Costs, Policy [Policy Text Block] | ' | ||||||||||||
Advertising Costs | |||||||||||||
Advertising costs are charged to sales and marketing expenses as incurred and were insignificant and $0.02 in the three and six months ended June 30, 2014, respectively. Advertising costs were insignificant in both the three and six months ended June 30, 2013. | |||||||||||||
Research and Development Expense, Policy [Policy Text Block] | ' | ||||||||||||
Product Development Costs | |||||||||||||
Research of new product ideas and enhancements to existing products are charged to expense as incurred. | |||||||||||||
Income Tax, Policy [Policy Text Block] | ' | ||||||||||||
Income Taxes | |||||||||||||
The Company accounts for income taxes using the liability method. Under the liability method, deferred tax liabilities and assets are determined based on the difference between the financial statement and tax basis of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. Valuation allowances are established when necessary to reduce deferred tax assets to the amounts expected to be realized. The Company records liabilities, where appropriate, for all uncertain income tax positions. The Company recognizes potential accrued interest and penalties related to unrecognized tax benefits within operations as income tax expense. | |||||||||||||
Comprehensive Income, Policy [Policy Text Block] | ' | ||||||||||||
Comprehensive Loss | |||||||||||||
Other comprehensive loss as of June 30, 2014 and December 31, 2013, consists of unrealized gains and losses on marketable securities categorized as available-for-sale and foreign currency translation adjustments. | |||||||||||||
Earnings Per Share, Policy [Policy Text Block] | ' | ||||||||||||
Net Loss per Common Share | |||||||||||||
Basic net loss per share is calculated using the weighted average shares of common stock outstanding, excluding treasury stock. Diluted net loss per share is calculated using the weighted average number of common and potentially dilutive common shares outstanding, excluding treasury stock, during the period, using the treasury stock method for stock options. As a result of the Company’s net loss position at both June 30, 2014 and 2013, there is no dilution. | |||||||||||||
Segment Reporting, Policy [Policy Text Block] | ' | ||||||||||||
Segment Information | |||||||||||||
The Company has one operating segment, online advertising. While the Company operates under one operating segment, management reviews revenue under two product offerings—Advertiser Networks and Publisher Solutions. | |||||||||||||
As of June 30, 2014 and December 31, 2013, the Company’s accounts receivable and deferred revenue are primarily related to the online advertising segment. All long-lived assets are located in the United States and Canada. | |||||||||||||
Adoption Of New Accounting Standards Policy [Policy Text Block] | ' | ||||||||||||
Adoption of New Accounting Standards | |||||||||||||
On January 2, 2014 we adopted guidance issued by the Financial Accounting Standards Board (“FASB”), ASU 2013-04, “Liabilities – Obligations Resulting from Joint and Several Liability Arrangements for Which the Total Amount of the Obligation is Fixed at the Reporting Date”, an amendment providing guidance for the recognition, measurement, and disclosure of obligations resulting from joint and several liability arrangements for which the total amount of the obligation is fixed at the reporting date. Adoption of this new guidance had no impact on the Company’s consolidated financial position or results of operations. | |||||||||||||
New Accounting Pronouncements, Policy [Policy Text Block] | ' | ||||||||||||
Recent Accounting Pronouncements | |||||||||||||
In April 2014, the FASB issued Accounting Standards Update No. 2014-08 (“ASU 2014-08”) “Presentation of Financial Statements (Topic 205) and Property, Plant, and Equipment (Topic 360): Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity." ASU 2014-08 raises the threshold for a disposal to qualify as a discontinued operation and requires new disclosures of both discontinued operations and certain other disposals that do not meet the definition of a discontinued operation. It is effective for annual periods beginning on or after December 15, 2014. Early adoption is permitted but only for disposals that have not been reported in financial statements previously issued. We do not expect the impact of the adoption of ASU 2014-08 to be material to our consolidated financial statements. | |||||||||||||
In May 2014, the FASB issued Accounting Standards Update No. 2014-09 (“ASU 2014-09”) "Revenue from Contracts with Customers." ASU 2014-09 supersedes the revenue recognition requirements in “Revenue Recognition (Topic 605)”, and requires entities to recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled to in exchange for those goods or services. ASU 2014-09 is effective for annual reporting periods beginning after December 15, 2016, including interim periods within that reporting period. Early adoption is not permitted. We are currently in the process of evaluating the impact of the adoption of ASU 2014-09 on our consolidated financial statements. | |||||||||||||
Summary_of_Significant_Account2
Summary of Significant Accounting Policies (Tables) | 6 Months Ended | ||||||||||||
Jun. 30, 2014 | |||||||||||||
Summary of Significant Accounting Policies [Abstract] | ' | ||||||||||||
Schedules of Concentration of Risk, by Risk Factor [Table Text Block] | ' | ||||||||||||
The following table reflects customers that accounted for more than 10% of net accounts receivable: | |||||||||||||
June 30, | December 31, | ||||||||||||
2014 | 2013 | ||||||||||||
Company 1 | 22 | % | ** | ||||||||||
Company 2 | 18 | % | ** | ||||||||||
Company 3 | ** | 22 | % | ||||||||||
Company 4 | ** | 18 | % | ||||||||||
Company 5 | ** | 16 | % | ||||||||||
** Less than 10% | |||||||||||||
Net Revenue [Member] | ' | ||||||||||||
Summary of Significant Accounting Policies [Abstract] | ' | ||||||||||||
Schedules of Concentration of Risk, by Risk Factor [Table Text Block] | ' | ||||||||||||
The following table reflects the concentration of revenue by geographic locations that accounted for more than 10% of net revenue: | |||||||||||||
Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||
United States | 92 | % | 88 | % | 93 | % | 76 | % | |||||
Europe, Middle East and Africa | ** | ** | ** | 19 | % | ||||||||
** Less than 10% | |||||||||||||
LookSmart derives its revenue from two service offerings, or “products”: Advertiser Networks and Publisher Solutions. The percentage distributions between the two service offerings are as follows: | |||||||||||||
Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||
Advertiser Networks | 88 | % | 84 | % | 91 | % | 86 | % | |||||
Publisher Solutions | 12 | % | 16 | % | 9 | % | 14 | % | |||||
The following table reflects the percentage of revenue attributed to customers who accounted for more than 10% of net revenue, all of which are Intermediaries: | |||||||||||||
Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||
Company 1 | 13 | % | ** | 12 | % | ** | |||||||
Company 2 | 10 | % | ** | 11 | % | ** | |||||||
Company 3 | 10 | % | ** | ** | ** | ||||||||
Company 4 | ** | ** | ** | 13 | % | ||||||||
** Less than 10% | |||||||||||||
Traffic Acquisition Costs [Member] | ' | ||||||||||||
Summary of Significant Accounting Policies [Abstract] | ' | ||||||||||||
Schedules of Concentration of Risk, by Risk Factor [Table Text Block] | ' | ||||||||||||
The Company derives its revenue primarily from its relationships with significant distribution network partners. The following table reflects the distribution partners that accounted for more than 10% of total TAC: | |||||||||||||
Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||
Distribution Partner 1 | 20 | % | ** | 32 | % | ** | |||||||
Distribution Partner 2 | 19 | % | ** | 28 | % | ** | |||||||
Distribution Partner 3 | 22 | % | 13 | % | 21 | % | 31 | % | |||||
Distribution Partner 4 | ** | ** | ** | 12 | % | ||||||||
Distribution Partner 5 | ** | ** | ** | 11 | % | ||||||||
** Less than 10% | |||||||||||||
Cash_and_Available_for_Sale_Se1
Cash and Available for Sale Securities (Tables) | 6 Months Ended | |||||||
Jun. 30, 2014 | ||||||||
Cash and Available for Sale Securities [Abstract] | ' | |||||||
Schedule of Cash, Cash Equivalents and Short-term Investments [Table Text Block] | ' | |||||||
The following table summarizes the Company’s cash and available-for-sale securities’ amortized cost and estimated fair value by significant investment category as of June 30, 2014, and December 31, 2013 (in thousands): | ||||||||
Amortized Cost and Estimated | ||||||||
Fair Value | ||||||||
June 30, | December 31, | |||||||
2014 | 2013 | |||||||
Cash and cash equivalents: | ||||||||
Cash | $ | 828 | $ | 1,048 | ||||
Cash equivalents | ||||||||
Money market mutual funds | 310 | 1,641 | ||||||
Commercial paper | 1,000 | 100 | ||||||
Total cash equivalents | 1,310 | 1,741 | ||||||
Total cash and cash equivalents | 2,138 | 2,789 | ||||||
Short-term investments: | ||||||||
Corporate bonds | - | 501 | ||||||
Certificates of deposit | 123 | 800 | ||||||
Commercial paper | - | 500 | ||||||
Other commodities | 72 | - | ||||||
Collateralized debt obligations | 320 | 1,301 | ||||||
Total short-term investments | 515 | 3,102 | ||||||
Long-term investments: | ||||||||
Certificates of deposit | - | 154 | ||||||
Total long-term investments | - | 154 | ||||||
Total cash, and cash equivalents, short-term and long-term investments | $ | 2,653 | $ | 6,045 | ||||
Property_and_Equipment_Tables
Property and Equipment (Tables) | 6 Months Ended | |||||||||||||||||||
Jun. 30, 2014 | ||||||||||||||||||||
Property and Equipment [Abstract] | ' | |||||||||||||||||||
Property and Equipment [Table Text Block] | ' | |||||||||||||||||||
Property and equipment consist of the following at June 30, 2014, and December 31, 2013 (in thousands): | ||||||||||||||||||||
June 30, 2014 | December 31, 2013 | |||||||||||||||||||
Cost | Accumulated | Net Book | Cost | Accumulated | Net Book | |||||||||||||||
Depreciation | Value | Depreciation | Value | |||||||||||||||||
Computer equipment | $ | 1,109 | $ | -461 | $ | 648 | $ | 490 | $ | -244 | $ | 246 | ||||||||
Furniture and fixtures | 22 | -3 | 19 | 21 | -1 | 20 | ||||||||||||||
Software | 2,977 | -743 | 2,234 | 2,962 | -246 | 2,716 | ||||||||||||||
Leasehold improvements | 73 | -12 | 61 | 59 | -4 | 55 | ||||||||||||||
Land and Buildings | 1,339 | -13 | 1,326 | 797 | -3 | 794 | ||||||||||||||
Total | $ | 5,520 | $ | -1,232 | $ | 4,288 | $ | 4,329 | $ | -498 | $ | 3,831 | ||||||||
Other_Assets_Tables
Other Assets (Tables) | 6 Months Ended | |||||||||||||||||||
Jun. 30, 2014 | ||||||||||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | |||||||||||||||||||
Schedule of Finite-Lived Intangible Assets [Table Text Block] | ' | |||||||||||||||||||
The Company’s other assets are as follows at June 30, 2014, and December 31, 2013 (in thousands): | ||||||||||||||||||||
June 30, 2014 | December 31, 2013 | |||||||||||||||||||
Gross Amount | Accumulated | Net Book | Gross Amount | Accumulated | Net Book | |||||||||||||||
Amortization | Value | Amortization | Value | |||||||||||||||||
Other assets | 85 | - | 85 | 87 | - | 87 | ||||||||||||||
Total | $ | 85 | $ | - | $ | 85 | $ | 87 | $ | - | $ | 87 | ||||||||
Accrued_Liabilities_Tables
Accrued Liabilities (Tables) | 6 Months Ended | |||||||
Jun. 30, 2014 | ||||||||
Accrued Liabilities [Abstract] | ' | |||||||
Schedule of Accrued Liabilities [Table Text Block] | ' | |||||||
Accrued liabilities consisted of the following as of June 30, 2014, and December 31, 2013 (in thousands): | ||||||||
June 30, | December 31, | |||||||
2014 | 2013 | |||||||
Accrued distribution and partner costs | $ | 171 | $ | 176 | ||||
Accrued compensation and related expenses | 82 | 87 | ||||||
Accrued professional service fees | 82 | 146 | ||||||
Other | 7 | 35 | ||||||
Total accrued liabilities | $ | 342 | $ | 444 | ||||
Capital_Lease_and_Other_Obliga1
Capital Lease and Other Obligations (Tables) | 6 Months Ended | |||||||
Jun. 30, 2014 | ||||||||
Capital Lease and Other Obligations [Abstract] | ' | |||||||
Capital leases and other obligations [Table Text Block] | ' | |||||||
Capital lease and other obligations consist of the following at June 30, 2014, and December 31, 2013 (in thousands): | ||||||||
June 30, | December 31, | |||||||
2014 | 2013 | |||||||
Capital lease obligations | $ | 86 | $ | - | ||||
Deferred rent | 134 | 186 | ||||||
Total capital lease and other obligations | 220 | 186 | ||||||
Less: current portion of capital lease obligations | -86 | - | ||||||
Capital lease and other obligations, net of current portion | $ | 134 | $ | 186 | ||||
Commitments_and_Contingencies_
Commitments and Contingencies (Tables) | 6 Months Ended | ||||||||||
Jun. 30, 2014 | |||||||||||
Commitments and Contingencies [Abstract] | ' | ||||||||||
Contractual Obligation, Fiscal Year Maturity Schedule [Table Text Block] | ' | ||||||||||
As of June 30, 2014, future minimum net payments under all operating leases are as follows (in thousands): | |||||||||||
Capital | Operating | Total | |||||||||
Lease | Leases | ||||||||||
Six months ending December 31, 2014 | $ | 88 | $ | 80 | $ | 168 | |||||
Years ending December 31, | |||||||||||
2015 | - | 178 | 178 | ||||||||
2016 | - | 99 | 99 | ||||||||
2017 | - | 101 | 101 | ||||||||
2018 | - | 86 | 86 | ||||||||
Total minimum net payments | $ | 88 | $ | 544 | $ | 632 | |||||
Less: amount representing interest | -2 | ||||||||||
Present value of net minimum payments | 86 | ||||||||||
Less: current portion | -86 | ||||||||||
Long-term portion of capital lease obligations | $ | - | |||||||||
Stockholders_Equity_Tables
Stockholders' Equity (Tables) | 6 Months Ended | ||||||||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||||||||
Stockholders Equity Note [Abstract] | ' | ||||||||||||||||||||||
Schedule of Compensation Cost for Share-based Payment Arrangements, Allocation of Share-based Compensation Costs by Plan [Table Text Block] | ' | ||||||||||||||||||||||
Share-based compensation expense recorded during three and six months ended June 30, 2014, and 2013 was included in the Company’s Unaudited Consolidated Statements of Operations as follows (in thousands): | |||||||||||||||||||||||
Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||
Sales and marketing | $ | - | $ | 1 | $ | 1 | $ | 2 | |||||||||||||||
Product development and technical operations | - | 2 | 1 | 5 | |||||||||||||||||||
General and administrative | 1 | 12 | 2 | 29 | |||||||||||||||||||
Total share-based compensation expense | $ | 1 | $ | 15 | $ | 4 | $ | 36 | |||||||||||||||
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block] | ' | ||||||||||||||||||||||
Stock option activity under the Plans during the three and six months ended June 30, 2014 is as follows: | |||||||||||||||||||||||
Shares | Weighted- | Weighted- | Aggregate | ||||||||||||||||||||
Average | Average | Intrinsic | |||||||||||||||||||||
Exercise Price | Remaining | Value | |||||||||||||||||||||
Per Share | Contractual | ||||||||||||||||||||||
Term | |||||||||||||||||||||||
(in thousands) | (in years) | (in thousands) | |||||||||||||||||||||
Options outstanding at December 31, 2013 | 25 | $ | 4.16 | 4.67 | $ | - | |||||||||||||||||
Granted | - | - | |||||||||||||||||||||
Exercised | - | - | |||||||||||||||||||||
Expired | - | - | |||||||||||||||||||||
Forfeited | -6 | 3.03 | |||||||||||||||||||||
Options outstanding at March 31, 2014 | 19 | $ | 4.5 | 4.23 | - | ||||||||||||||||||
Granted | - | - | |||||||||||||||||||||
Exercised | - | - | |||||||||||||||||||||
Expired | - | - | |||||||||||||||||||||
Forfeited | -7 | 1.85 | |||||||||||||||||||||
Options outstanding at June 30, 2014 | 12 | $ | 5.13 | 3.57 | $ | - | |||||||||||||||||
Vested and expected to vest at June 30, 2014 | 12 | $ | 5.15 | 0.89 | $ | - | |||||||||||||||||
Exercisable at June 30, 2014 | 11 | $ | 5.21 | 0.85 | $ | - | |||||||||||||||||
Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range [Table Text Block] | ' | ||||||||||||||||||||||
The following table summarizes information about stock options outstanding at June 30, 2014: | |||||||||||||||||||||||
Options Outstanding | Options Exercisable | ||||||||||||||||||||||
Price Ranges | Shares | Weighted- | Weighted- | Shares | Weighted- | ||||||||||||||||||
Average | Average | Average | |||||||||||||||||||||
Remaining | Exercise | Exercise | |||||||||||||||||||||
Contractual Term | Price | Price | |||||||||||||||||||||
Per Share | Per Share | ||||||||||||||||||||||
(in thousands) | (in years) | (in thousands) | |||||||||||||||||||||
$ | 2.55 | - | $ | 2.67 | 1 | 5.08 | $ | 2.65 | 1 | $ | 2.65 | ||||||||||||
4.14 | - | 5.64 | 9 | 3.87 | 4.51 | 8 | 4.53 | ||||||||||||||||
8.1 | - | 11.64 | 2 | 1.04 | 9.87 | 2 | 9.87 | ||||||||||||||||
12 | 3.57 | 5.13 | 11 | 5.21 | |||||||||||||||||||
Fair_Value_Measurements_Tables
Fair Value Measurements (Tables) | 6 Months Ended | |||||||||||||
Jun. 30, 2014 | ||||||||||||||
Fair Value Measurements [Abstract] | ' | |||||||||||||
Fair Value, Assets Measured on Recurring Basis [Table Text Block] | ' | |||||||||||||
The Company’s financial assets measured at fair value on a recurring basis subject to disclosure requirements at June 30, 2014, and December 31, 2013 were as follows (in thousands): | ||||||||||||||
Balance at | Quoted Prices | Significant | Significant | |||||||||||
June 30, 2014 | in Active | Other | Unobserved | |||||||||||
Markets for | Observable Inputs | Inputs | ||||||||||||
Identical Assets | (Level 2) | (Level 3) | ||||||||||||
(Level 1) | ||||||||||||||
Cash equivalents: | ||||||||||||||
Money market mutual funds | $ | 310 | $ | 310 | $ | - | $ | - | ||||||
Commercial paper | 1,000 | - | 1,000 | - | ||||||||||
Total cash equivalents | 1,310 | 310 | 1,000 | - | ||||||||||
Short-term investments: | ||||||||||||||
Certificates of deposit | 123 | - | 123 | - | ||||||||||
Other commodities | 72 | - | 72 | - | ||||||||||
Commercial paper | 0 | - | - | - | ||||||||||
Collateralized debt securities | 320 | - | - | 320 | ||||||||||
Total short-term investments | 515 | - | 195 | 320 | ||||||||||
Total financial assets measured at fair value | $ | 1,825 | $ | 310 | $ | 1,195 | $ | 320 | ||||||
Balance at | Quoted Prices | Significant | Significant | |||||||||||
December 31, 2013 | in Active | Other | Unobserved | |||||||||||
Markets for | Observable | Inputs | ||||||||||||
Identical Assets | Inputs | (Level 3) | ||||||||||||
(Level 1) | (Level 2) | |||||||||||||
Cash equivalents: | ||||||||||||||
Money market mutual funds | $ | 1,641 | $ | 1,641 | $ | - | $ | - | ||||||
Commercial paper | 100 | - | 100 | - | ||||||||||
Total cash equivalents | 1,741 | 1,641 | 100 | - | ||||||||||
Short-term investments: | ||||||||||||||
Certificates of deposit | 800 | - | 800 | - | ||||||||||
Corporate bonds | 501 | - | 501 | - | ||||||||||
Commercial paper | 500 | - | 500 | - | ||||||||||
Collateralized debt securities | 1,301 | - | - | 1,301 | ||||||||||
Total short-term investments | 3,102 | - | 1,801 | 1,301 | ||||||||||
Long-term investments: | ||||||||||||||
Certificates of deposit | 154 | - | 154 | - | ||||||||||
Total long-term investments | 154 | - | 154 | - | ||||||||||
Total financial assets measured at fair value | $ | 4,997 | $ | 1,641 | $ | 2,055 | $ | 1,301 | ||||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] | ' | |||||||||||||
Level 3 Assets – Roll forward (in thousands): | ||||||||||||||
Fair Value | ||||||||||||||
Measurements | ||||||||||||||
Using | ||||||||||||||
Significant | ||||||||||||||
Unobservable | ||||||||||||||
Inputs (Level 3) | ||||||||||||||
Collateralized | ||||||||||||||
Debt Securities | ||||||||||||||
Balance at December 31, 2013 | $ | 1,301 | ||||||||||||
Transfers into Level 3 | - | |||||||||||||
Transfers out of Level 3 | - | |||||||||||||
Total gains or losses | ||||||||||||||
Included in earnings (or | 47 | |||||||||||||
changes in net assets) | ||||||||||||||
Included in Other | - | |||||||||||||
comprehensive income | ||||||||||||||
Purchases, issuances, sales, | ||||||||||||||
and settlements | ||||||||||||||
Purchases | - | |||||||||||||
Issuances | - | |||||||||||||
Sales | - | |||||||||||||
Settlements | -541 | |||||||||||||
Balance at March 31, 2014 | $ | 807 | ||||||||||||
Transfers into Level 3 | - | |||||||||||||
Transfers out of Level 3 | - | |||||||||||||
Total gains or losses | ||||||||||||||
Included in earnings (or | 26 | |||||||||||||
changes in net assets) | ||||||||||||||
Included in Other | - | |||||||||||||
comprehensive income | ||||||||||||||
Purchases, issuances, sales, | ||||||||||||||
and settlements | ||||||||||||||
Purchases | - | |||||||||||||
Issuances | - | |||||||||||||
Sales | - | |||||||||||||
Settlements | -513 | |||||||||||||
Balance at June 30, 2014 | $ | 320 | ||||||||||||
Summary_of_Significant_Account3
Summary of Significant Accounting Policies (Details) | 6 Months Ended | 12 Months Ended | 6 Months Ended | 12 Months Ended | 6 Months Ended | 12 Months Ended | 6 Months Ended | 12 Months Ended | 6 Months Ended | 12 Months Ended | 3 Months Ended | 6 Months Ended | 3 Months Ended | 6 Months Ended | 3 Months Ended | 6 Months Ended | 3 Months Ended | 6 Months Ended | 3 Months Ended | 6 Months Ended | 3 Months Ended | 6 Months Ended | 3 Months Ended | 6 Months Ended | 3 Months Ended | 6 Months Ended | 3 Months Ended | 6 Months Ended | 3 Months Ended | 6 Months Ended | 3 Months Ended | 6 Months Ended | 3 Months Ended | 6 Months Ended | 3 Months Ended | 6 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | ||||||||||||||||||||||||||||
Accounts Receivable [Member] | Accounts Receivable [Member] | Accounts Receivable [Member] | Accounts Receivable [Member] | Accounts Receivable [Member] | Accounts Receivable [Member] | Accounts Receivable [Member] | Accounts Receivable [Member] | Accounts Receivable [Member] | Accounts Receivable [Member] | Net Revenue [Member] | Net Revenue [Member] | Net Revenue [Member] | Net Revenue [Member] | Net Revenue [Member] | Net Revenue [Member] | Net Revenue [Member] | Net Revenue [Member] | Cost of Services [Member] | Cost of Services [Member] | Cost of Services [Member] | Cost of Services [Member] | Cost of Services [Member] | Cost of Services [Member] | Cost of Services [Member] | Cost of Services [Member] | Cost of Services [Member] | Cost of Services [Member] | Cost of Services [Member] | Cost of Services [Member] | Cost of Services [Member] | Cost of Services [Member] | Cost of Services [Member] | Cost of Services [Member] | Cost of Services [Member] | Cost of Services [Member] | Cost of Services [Member] | Cost of Services [Member] | Cost of Services [Member] | Cost of Services [Member] | Cost of Services [Member] | Cost of Services [Member] | Traffic Acquisition Costs [Member] | Traffic Acquisition Costs [Member] | Traffic Acquisition Costs [Member] | Traffic Acquisition Costs [Member] | Traffic Acquisition Costs [Member] | Traffic Acquisition Costs [Member] | Traffic Acquisition Costs [Member] | Traffic Acquisition Costs [Member] | Traffic Acquisition Costs [Member] | Traffic Acquisition Costs [Member] | Traffic Acquisition Costs [Member] | Traffic Acquisition Costs [Member] | Traffic Acquisition Costs [Member] | Traffic Acquisition Costs [Member] | Traffic Acquisition Costs [Member] | Traffic Acquisition Costs [Member] | Traffic Acquisition Costs [Member] | Traffic Acquisition Costs [Member] | Traffic Acquisition Costs [Member] | Traffic Acquisition Costs [Member] | ||||||||||||||||||||||||||||
Company 1 Concentration Risk [Member] | Company 1 Concentration Risk [Member] | Company 2 Concentration Risk [Member] | Company 2 Concentration Risk [Member] | Company 3 Concentration Risk [Member] | Company 3 Concentration Risk [Member] | Company 4 Concentration Risk [Member] | Company 4 Concentration Risk [Member] | Company 5 Concentration Risk [Member] | Company 5 Concentration Risk [Member] | United States [Member] | United States [Member] | United States [Member] | United States [Member] | Europe, Middle East and Africa [Member] | Europe, Middle East and Africa [Member] | Europe, Middle East and Africa [Member] | Europe, Middle East and Africa [Member] | Advertiser Networks Concentration Risk [Member] | Advertiser Networks Concentration Risk [Member] | Advertiser Networks Concentration Risk [Member] | Advertiser Networks Concentration Risk [Member] | Publisher Solutions [Member] | Publisher Solutions [Member] | Publisher Solutions [Member] | Publisher Solutions [Member] | Company 1 Concentration Risk [Member] | Company 1 Concentration Risk [Member] | Company 1 Concentration Risk [Member] | Company 1 Concentration Risk [Member] | Company 2 Concentration Risk [Member] | Company 2 Concentration Risk [Member] | Company 2 Concentration Risk [Member] | Company 2 Concentration Risk [Member] | Company 3 Concentration Risk [Member] | Company 3 Concentration Risk [Member] | Company 3 Concentration Risk [Member] | Company 3 Concentration Risk [Member] | Company 4 Concentration Risk [Member] | Company 4 Concentration Risk [Member] | Company 4 Concentration Risk [Member] | Company 4 Concentration Risk [Member] | Distribution Partner 1 Concentration Risk [Member] | Distribution Partner 1 Concentration Risk [Member] | Distribution Partner 1 Concentration Risk [Member] | Distribution Partner 1 Concentration Risk [Member] | Distribution Partner 2 Concentration Risk [Member] | Distribution Partner 2 Concentration Risk [Member] | Distribution Partner 2 Concentration Risk [Member] | Distribution Partner 2 Concentration Risk [Member] | Distribution Partner 3 Concentration Risk [Member] | Distribution Partner 3 Concentration Risk [Member] | Distribution Partner 3 Concentration Risk [Member] | Distribution Partner 3 Concentration Risk [Member] | Distribution Partner 4 Concentration Risk [Member] | Distribution Partner 4 Concentration Risk [Member] | Distribution Partner 4 Concentration Risk [Member] | Distribution Partner 4 Concentration Risk [Member] | Distribution Partner 5 Concentration Risk [Member] | Distribution Partner 5 Concentration Risk [Member] | Distribution Partner 5 Concentration Risk [Member] | Distribution Partner 5 Concentration Risk [Member] | ||||||||||||||||||||||||||||
Concentration Risk [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||||||
Concentration Risk, Percentage | 22.00% | ' | [1] | 18.00% | ' | [1] | ' | [1] | 22.00% | ' | [1] | 18.00% | ' | [1] | 16.00% | 92.00% | 88.00% | 93.00% | 76.00% | ' | [1] | ' | [1] | ' | [1] | 19.00% | 88.00% | 84.00% | 91.00% | 86.00% | 12.00% | 16.00% | 9.00% | 14.00% | 13.00% | ' | [1] | 12.00% | ' | [1] | 10.00% | ' | [1] | 11.00% | ' | [1] | 10.00% | ' | [1] | ' | [1] | ' | [1] | ' | [1] | ' | [1] | ' | [1] | 13.00% | 20.00% | ' | [1] | 32.00% | ' | [1] | 19.00% | ' | [1] | 28.00% | ' | 22.00% | 13.00% | 21.00% | 31.00% | ' | [1] | ' | [1] | ' | [1] | 12.00% | ' | [1] | ' | [1] | ' | [1] | 11.00% |
[1] | Less than 10% |
Summary_of_Significant_Account4
Summary of Significant Accounting Policies (Details Textual) (USD $) | 3 Months Ended | 6 Months Ended | 12 Months Ended | 6 Months Ended | 12 Months Ended | 6 Months Ended | ||||||||||||||
Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Dec. 31, 2013 | Dec. 31, 2013 | Nov. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | |
Computer Equipment [Member] | Computer Equipment [Member] | Furniture and Fixtures [Member] | Furniture and Fixtures [Member] | Capitalized software [Member] | Capitalized software [Member] | Building [Member] | San Francisco [Member] | San Francisco [Member] | Phoenix [Member] | Phoenix [Member] | Accounts Receivable [Member] | Net Revenue [Member] | Cost of Services [Member] | |||||||
Maximum [Member] | Minimum [Member] | Maximum [Member] | Minimum [Member] | Maximum [Member] | Minimum [Member] | sqft | sqft | |||||||||||||
Summary of Significant Accounting Policies [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Allowance for Doubtful Accounts Receivable, Period Increase (Decrease) | ' | ' | $700,000 | ' | $700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Bad Debt Expenses | 0 | 300,000 | 0 | 200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Minimum reportable percentage for concentration of credit risk | ' | ' | 10.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10.00% | 10.00% | 10.00% |
Restructuring charge | 7,000 | 7,000 | 16,000 | 22,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 40,000 | 100,000 | ' | ' | ' | ' | ' |
Area of Building | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10,000 | 10,000 | ' | ' | ' |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets, Total | ' | ' | ' | ' | ' | 3,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Property, Plant and Equipment, Useful Life | ' | ' | ' | ' | ' | ' | '4 years | '3 years | '7 years | '5 years | '3 years | '2 years | '39 years | ' | ' | ' | ' | ' | ' | ' |
Advertising Revenue Cost | $20,000 | ' | $20,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash_and_Available_for_Sale_Se2
Cash and Available for Sale Securities (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||||
Cash and cash equivalents: | ' | ' | ' | ' |
Cash | $828 | $1,048 | ' | ' |
Cash equivalents | ' | ' | ' | ' |
Total cash equivalents | 1,310 | 1,741 | ' | ' |
Total cash and cash equivalents | 2,138 | 2,789 | 7,903 | 6,352 |
Short-term investments: | ' | ' | ' | ' |
Total short-term investments | 515 | 3,102 | ' | ' |
Long-term investments: | ' | ' | ' | ' |
Total long-term investments | 0 | 154 | ' | ' |
Total cash, and cash equivalents, short-term and long-term investments | 2,653 | 6,045 | ' | ' |
Collateralized Debt Obligations [Member] | ' | ' | ' | ' |
Short-term investments: | ' | ' | ' | ' |
Total short-term investments | 320 | 1,301 | ' | ' |
Corporate Bonds [Member] | ' | ' | ' | ' |
Short-term investments: | ' | ' | ' | ' |
Total short-term investments | 0 | 501 | ' | ' |
Money Market Mutual Funds [Member] | ' | ' | ' | ' |
Cash equivalents | ' | ' | ' | ' |
Total cash equivalents | 310 | 1,641 | ' | ' |
Certificates of Deposit [Member] | ' | ' | ' | ' |
Short-term investments: | ' | ' | ' | ' |
Total short-term investments | 123 | 800 | ' | ' |
Long-term investments: | ' | ' | ' | ' |
Total long-term investments | 0 | 154 | ' | ' |
Commercial Paper [Member] | ' | ' | ' | ' |
Cash equivalents | ' | ' | ' | ' |
Total cash equivalents | 1,000 | 100 | ' | ' |
Short-term investments: | ' | ' | ' | ' |
Total short-term investments | 0 | 500 | ' | ' |
Other Commodities [Member] | ' | ' | ' | ' |
Short-term investments: | ' | ' | ' | ' |
Total short-term investments | $72 | $0 | ' | ' |
Cash_and_Available_for_Sale_Se3
Cash and Available for Sale Securities (Details Textual) (USD $) | 6 Months Ended | 12 Months Ended | |
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Dec. 31, 2013 |
Cash and Available for Sale Securities [Line Items] | ' | ' | ' |
Unrealized Gain (Loss) on Investments | ($32) | ($1) | ' |
Contractual maturities of cash and short term investments | '1 year | ' | '1 year |
Contractual maturity of long-term investments | ' | ' | '1 year |
Available-for-sale Securities [Member] | ' | ' | ' |
Cash and Available for Sale Securities [Line Items] | ' | ' | ' |
Unrealized Gain (Loss) on Investments | $30 | ' | 30 |
Property_and_Equipment_Details
Property and Equipment (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Property, Plant and Equipment [Line Items] | ' | ' |
Cost | $5,520 | $4,329 |
Accumulated Depreciation | -1,232 | -498 |
Net Book Value | 4,288 | 3,831 |
Computer Software, Intangible Asset [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Cost | 2,977 | 2,962 |
Accumulated Depreciation | -743 | -246 |
Net Book Value | 2,234 | 2,716 |
Computer Equipment [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Cost | 1,109 | 490 |
Accumulated Depreciation | -461 | -244 |
Net Book Value | 648 | 246 |
Furniture and Fixtures [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Cost | 22 | 21 |
Accumulated Depreciation | -3 | -1 |
Net Book Value | 19 | 20 |
Leasehold Improvements [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Cost | 73 | 59 |
Accumulated Depreciation | -12 | -4 |
Net Book Value | 61 | 55 |
Land and Building [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Cost | 1,339 | 797 |
Accumulated Depreciation | -13 | -3 |
Net Book Value | $1,326 | $794 |
Property_and_Equipment_Details1
Property and Equipment (Details Textual) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Millions, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Property, Plant and Equipment [Line Items] | ' | ' | ' | ' |
Depreciation, Total | $0.40 | $0.06 | $0.70 | $0.10 |
Capital Leased Assets, Gross | $0.20 | $0 | $0.20 | $0 |
Other_Assets_Details
Other Assets (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Gross Amount | $85 | $87 |
Accumulated Amortization | 0 | 0 |
Net Book Value | 85 | 87 |
Other Assets [Member] | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Gross Amount | 85 | 87 |
Accumulated Amortization | 0 | 0 |
Net Book Value | $85 | $87 |
Accrued_Liabilities_Details
Accrued Liabilities (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Accrued Liabilities [Line Items] | ' | ' |
Accrued distribution and partner costs | $171 | $176 |
Accrued compensation and related expenses | 82 | 87 |
Accrued professional service fees | 82 | 146 |
Other | 7 | 35 |
Total accrued liabilities | $342 | $444 |
Restructuring_Charges_Details_
Restructuring Charges (Details Textual) (USD $) | 3 Months Ended | 6 Months Ended | 12 Months Ended | |||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Dec. 31, 2013 |
San Francisco [Member] | San Francisco [Member] | |||||
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' | ' | ' |
Restructuring charge | $7 | $7 | $16 | $22 | $40 | $100 |
Capital_Lease_and_Other_Obliga2
Capital Lease and Other Obligations (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Capital Lease and Other Obligations [Line Items] | ' | ' |
Capital lease obligations | $86 | $0 |
Deferred rent | 134 | 186 |
Total capital lease and other obligations | 220 | 186 |
Less: current portion of capital lease obligations | -86 | 0 |
Capital lease and other obligations, net of current portion | $134 | $186 |
Capital_Lease_and_Other_Obliga3
Capital Lease and Other Obligations (Details Textual) (City National Bank [Member], USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
City National Bank [Member] | ' | ' |
Capital Lease and Other Obligations [Line Items] | ' | ' |
Line of Credit Facility, Amount Outstanding | $0.10 | $0.20 |
Commitments_and_Contingencies_1
Commitments and Contingencies (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Operating Leases Future Minimum Payments Due [Line Items] | ' | ' |
Six months ending December 31, 2014 | $88 | ' |
Years ending December 31, | ' | ' |
2015 | 0 | ' |
2016 | 0 | ' |
2017 | 0 | ' |
2018 | 0 | ' |
Total minimum net payments | 88 | ' |
Less: amount representing interest | -2 | ' |
Present value of net minimum payments | 86 | ' |
Less: current portion of capital lease obligations | -86 | 0 |
Long-term portion of capital lease obligations | 0 | ' |
Operating Leases | ' | ' |
Six months ending December 31, 2014 | 80 | ' |
2015 | 178 | ' |
2016 | 99 | ' |
2017 | 101 | ' |
2018 | 86 | ' |
Total minimum net payments | 544 | ' |
Total | ' | ' |
Six months ending December 31, 2014 | 168 | ' |
2015 | 178 | ' |
2016 | 99 | ' |
2017 | 101 | ' |
2018 | 86 | ' |
Total minimum net payments | $632 | ' |
Commitments_and_Contingencies_2
Commitments and Contingencies (Details Textual) (USD $) | 3 Months Ended | 6 Months Ended | 12 Months Ended | 6 Months Ended | 1 Months Ended | ||
Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Dec. 31, 2013 | Jun. 30, 2014 | Aug. 31, 2013 | |
Los Angeles, California [Member] | San Francisco, California [Member] | ||||||
sqft | sqft | ||||||
Commitments and Contingencies Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Land Subject to Office Space | ' | ' | ' | ' | ' | 4,803 | 2,341 |
Operating Leases, Rent Expense | $40,000 | $20,000 | $80,000 | $50,000 | ' | ' | ' |
Lease Expiration Date | ' | ' | 30-Dec-14 | ' | ' | 31-Jul-15 | 31-Aug-18 |
Letters of Credit Outstanding, Amount | 100,000 | ' | 100,000 | ' | ' | ' | ' |
Loss Contingency, Damages Sought, Value | ' | ' | ' | ' | 1,000,000 | ' | ' |
Lessee Leasing Arrangements, Operating Leases, Term of Contract | ' | ' | ' | ' | ' | ' | '5 years |
Litigation Settlement, Amount | ' | ' | $450,000 | ' | ' | ' | ' |
Stockholders_Equity_Details
Stockholders' Equity (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Share Based Compensation Expense [Line Items] | ' | ' | ' | ' |
Total share-based compensation expense | $1 | $15 | $4 | $36 |
Selling and Marketing Expense [Member] | ' | ' | ' | ' |
Share Based Compensation Expense [Line Items] | ' | ' | ' | ' |
Total share-based compensation expense | 0 | 1 | 1 | 2 |
Research and Development Expense [Member] | ' | ' | ' | ' |
Share Based Compensation Expense [Line Items] | ' | ' | ' | ' |
Total share-based compensation expense | 0 | 2 | 1 | 5 |
General and Administrative Expense [Member] | ' | ' | ' | ' |
Share Based Compensation Expense [Line Items] | ' | ' | ' | ' |
Total share-based compensation expense | $1 | $12 | $2 | $29 |
Stockholders_Equity_Details_1
Stockholders' Equity (Details 1) (USD $) | 3 Months Ended | 6 Months Ended | 12 Months Ended | |
In Thousands, except Per Share data, unless otherwise specified | Jun. 30, 2014 | Mar. 31, 2014 | Jun. 30, 2014 | Dec. 31, 2013 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Shares, Options outstanding | 19 | 25 | 25 | ' |
Shares, Granted (in shares) | 0 | 0 | ' | ' |
Shares, Exercised (in shares) | 0 | 0 | ' | ' |
Shares, Expired (in shares) | 0 | 0 | ' | ' |
Shares, Forfeited (in shares) | -7 | -6 | ' | ' |
Shares, Options outstanding | 12 | 19 | 12 | 25 |
Vested and expected to vest at June 30, 2014 (in shares) | 12 | ' | 12 | ' |
Exercisable at March 31, 2014 (in shares) | 11 | ' | 11 | ' |
Weighted- Average Exercise Price Per Share, Options outstanding | $4.50 | $4.16 | $4.16 | ' |
Weighted- Average Exercise Price Per Share, Granted (in dollars per share) | $0 | $0 | ' | ' |
Weighted- Average Exercise Price Per Share, Excercised (in dollars per share) | $0 | $0 | ' | ' |
Weighted- Average Exercise Price Per Share, Expired (in dollars per share) | $0 | $0 | ' | ' |
Weighted- Average Exercise Price Per Share, Forfeited (in dollars per share) | $1.85 | $3.03 | ' | ' |
Weighted- Average Exercise Price Per Share, Options outstanding | $5.13 | $4.50 | $5.13 | $4.16 |
Vested and expected to vest at June 30, 2014 (in dollars per share) | $5.15 | ' | $5.15 | ' |
Exercisable at June 30, 2014 (in dollars per share) | $5.21 | ' | $5.21 | ' |
Weighted- Average Remaining Contractual Term, Options outstanding | '3 years 6 months 25 days | '4 years 2 months 23 days | ' | '4 years 8 months 1 day |
Weighted- Average Remaining Contractual Term, Vested and expected to vest at June 30, 2014 | ' | ' | '10 months 20 days | ' |
Weighted- Average Remaining Contractual Term, Exercisable at June 30, 2014 | ' | ' | '10 months 6 days | ' |
Aggregate Intrinsic Value, Options outstanding | $0 | $0 | $0 | $0 |
Aggregate Intrinsic Value, Vested and expected to vest at June 30, 2014 | 0 | ' | 0 | ' |
Aggregate Intrinsic Value, Exercisable at June 30, 2014 | $0 | ' | $0 | ' |
Stockholders_Equity_Details_2
Stockholders' Equity (Details 2) (USD $) | 6 Months Ended |
In Thousands, except Per Share data, unless otherwise specified | Jun. 30, 2014 |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Options Outstanding, Shares (in shares) | 12 |
Options Outstanding, Weighted-Average Remaining Contractual Term | '3 years 6 months 25 days |
Options Outstanding, Weighted-Average Exercise Price Per Share (in dollars per share) | $5.13 |
Options Exercisable, Shares (in shares) | 11 |
Options Exercisable, Weighted-Average Exercise Price Per Share (in dollars per share) | $5.21 |
Equity Option [Member] | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Lower exercise price range limit | $2.55 |
Upper exercise price range limit | $2.67 |
Options Outstanding, Shares (in shares) | 1 |
Options Outstanding, Weighted-Average Remaining Contractual Term | '5 years 29 days |
Options Outstanding, Weighted-Average Exercise Price Per Share (in dollars per share) | $2.65 |
Options Exercisable, Shares (in shares) | 1 |
Options Exercisable, Weighted-Average Exercise Price Per Share (in dollars per share) | $2.65 |
Equity Option One [Member] | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Lower exercise price range limit | $4.14 |
Upper exercise price range limit | $5.64 |
Options Outstanding, Shares (in shares) | 9 |
Options Outstanding, Weighted-Average Remaining Contractual Term | '3 years 10 months 13 days |
Options Outstanding, Weighted-Average Exercise Price Per Share (in dollars per share) | $4.51 |
Options Exercisable, Shares (in shares) | 8 |
Options Exercisable, Weighted-Average Exercise Price Per Share (in dollars per share) | $4.53 |
Equity Option Two [Member] | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Lower exercise price range limit | $8.10 |
Upper exercise price range limit | $11.64 |
Options Outstanding, Shares (in shares) | 2 |
Options Outstanding, Weighted-Average Remaining Contractual Term | '1 year 14 days |
Options Outstanding, Weighted-Average Exercise Price Per Share (in dollars per share) | $9.87 |
Options Exercisable, Shares (in shares) | 2 |
Options Exercisable, Weighted-Average Exercise Price Per Share (in dollars per share) | $9.87 |
Stockholders_Equity_Details_Te
Stockholders' Equity (Details Textual) (USD $) | 1 Months Ended | 3 Months Ended | 6 Months Ended | 12 Months Ended | 6 Months Ended | 6 Months Ended | ||||||
Jul. 31, 2009 | Jun. 30, 2014 | Mar. 31, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Dec. 31, 2013 | 31-May-12 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Jul. 14, 2009 | |
Plan 2007 [Member] | Plan 2007 [Member] | Plan 2009 [Member] | Plan 2009 [Member] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common Stock, Capital Shares Reserved for Future Issuance | ' | ' | ' | ' | ' | ' | ' | ' | 1,200,000 | 1,400,000 | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | ' | 0 | 0 | ' | ' | ' | ' | ' | 1,200,000 | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 500,000 |
Share-based Compensation Arrangement by Share-based Payment Award, Purchase Price of Common Stock, Percent | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 85.00% | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Maximum Employee Subscription Rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 15.00% | ' |
Common stock, shares issued (in shares) | ' | 5,769,000 | ' | ' | 5,769,000 | ' | 5,769,000 | ' | ' | ' | 28,000 | ' |
Share based Compensation Arrangement By Share based Payment Award Purchase Price Of Common Stock | 5,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Treasury Stock Acquired, Average Cost Per Share | ' | ' | ' | ' | $1.86 | ' | $2.01 | ' | ' | ' | ' | ' |
Treasury Stock, Value, Acquired, Cost Method | ' | ' | ' | ' | $81,000 | ' | $26,000 | ' | ' | ' | ' | ' |
Treasury Stock, Shares, Acquired | ' | 43,000 | ' | ' | ' | ' | 13,000 | ' | ' | ' | ' | ' |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Total | ' | 10,000 | ' | ' | 10,000 | ' | ' | ' | ' | ' | ' | ' |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | ' | ' | ' | ' | '10 months 28 days | ' | ' | ' | ' | ' | ' | ' |
Stock Repurchase Program, Authorized Amount | ' | ' | ' | ' | ' | ' | ' | 1,000,000 | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested in Period, Fair Value | ' | ' | ' | $100,000 | ' | $100,000 | ' | ' | ' | ' | ' | ' |
Stockholders' Equity, Reverse Stock Split | ' | ' | ' | ' | 'adjusted for the 3:1 reverse split in November 2013 | ' | ' | ' | ' | ' | ' | ' |
Fair_Value_Measurements_Detail
Fair Value Measurements (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total cash equivalents | $1,310 | $1,741 |
Total short-term investments | 515 | 3,102 |
Total long-term investments | 0 | 154 |
Total financial assets measured at fair value | 1,825 | 4,997 |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total cash equivalents | 310 | 1,641 |
Total short-term investments | 0 | 0 |
Total long-term investments | ' | 0 |
Total financial assets measured at fair value | 310 | 1,641 |
Significant Other Observable Inputs (Level 2) [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total cash equivalents | 1,000 | 100 |
Total short-term investments | 195 | 1,801 |
Total long-term investments | ' | 154 |
Total financial assets measured at fair value | 1,195 | 2,055 |
Significant Unobserved Inputs (Level 3) [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total cash equivalents | 0 | 0 |
Total short-term investments | 320 | 1,301 |
Total long-term investments | ' | 0 |
Total financial assets measured at fair value | 320 | 1,301 |
Money Market Mutual Funds [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total cash equivalents | 310 | 1,641 |
Money Market Mutual Funds [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total cash equivalents | 310 | 1,641 |
Money Market Mutual Funds [Member] | Significant Other Observable Inputs (Level 2) [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total cash equivalents | 0 | 0 |
Money Market Mutual Funds [Member] | Significant Unobserved Inputs (Level 3) [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total cash equivalents | 0 | 0 |
Commercial Paper [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total cash equivalents | 1,000 | 100 |
Total short-term investments | 0 | 500 |
Commercial Paper [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total cash equivalents | 0 | 0 |
Total short-term investments | 0 | 0 |
Commercial Paper [Member] | Significant Other Observable Inputs (Level 2) [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total cash equivalents | 1,000 | 100 |
Total short-term investments | 0 | 500 |
Commercial Paper [Member] | Significant Unobserved Inputs (Level 3) [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total cash equivalents | 0 | 0 |
Total short-term investments | 0 | 0 |
Certificates of Deposit [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total short-term investments | 123 | 800 |
Total long-term investments | ' | 154 |
Certificates of Deposit [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total short-term investments | 0 | 0 |
Total long-term investments | ' | 0 |
Certificates of Deposit [Member] | Significant Other Observable Inputs (Level 2) [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total short-term investments | 123 | 800 |
Total long-term investments | ' | 154 |
Certificates of Deposit [Member] | Significant Unobserved Inputs (Level 3) [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total short-term investments | 0 | 0 |
Total long-term investments | ' | 0 |
Other commodities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total short-term investments | 72 | ' |
Other commodities [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total short-term investments | 0 | ' |
Other commodities [Member] | Significant Other Observable Inputs (Level 2) [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total short-term investments | 72 | ' |
Other commodities [Member] | Significant Unobserved Inputs (Level 3) [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total short-term investments | 0 | ' |
Corporate Bonds [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total short-term investments | ' | 501 |
Corporate Bonds [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total short-term investments | ' | 0 |
Corporate Bonds [Member] | Significant Other Observable Inputs (Level 2) [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total short-term investments | ' | 501 |
Corporate Bonds [Member] | Significant Unobserved Inputs (Level 3) [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total short-term investments | ' | 0 |
Collateralized debt securities (Member) | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total short-term investments | 320 | 1,301 |
Collateralized debt securities (Member) | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total short-term investments | 0 | 0 |
Collateralized debt securities (Member) | Significant Other Observable Inputs (Level 2) [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total short-term investments | 0 | 0 |
Collateralized debt securities (Member) | Significant Unobserved Inputs (Level 3) [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total short-term investments | $320 | $1,301 |
Fair_Value_Measurements_Detail1
Fair Value Measurements (Details 1) (Significant Unobserved Inputs (Level 3) [Member], Collateralized Debt Securities [Member], USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Jun. 30, 2014 | Mar. 31, 2014 |
Significant Unobserved Inputs (Level 3) [Member] | Collateralized Debt Securities [Member] | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' |
Balance | $807 | $1,301 |
Transfers into Level 3 | 0 | 0 |
Transfers out of Level 3 | 0 | 0 |
Total gains or losses | ' | ' |
Included in earnings (or changes in net assets) | 26 | 47 |
Included in Other comprehensive income | 0 | 0 |
Purchases, issuances, sales, and settlements | ' | ' |
Purchases | 0 | 0 |
Issuances | 0 | 0 |
Sales | 0 | 0 |
Settlements | -513 | -541 |
Balance | $320 | $807 |
Fair_Value_Measurements_Detail2
Fair Value Measurements (Details Textual) (USD $) | 6 Months Ended | ||
In Millions, unless otherwise specified | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 01, 2013 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Collateral Fair Value | $0.30 | $1.30 | ' |
Investment In Collateral Fund | ' | ' | 2 |
Collateral Investment Maturity Date | 30-Sep-14 | ' | ' |
Proceeds From Collateral Principal And Interest Payment | 1.9 | ' | ' |
Proceeds From Collateral Principal Payment | 1.7 | ' | ' |
Proceeds From Collateral Interest Payment | $0.30 | ' | ' |