Document_and_Entity_Informatio
Document and Entity Information | 3 Months Ended | |||
Mar. 31, 2014 | 9-May-14 | 9-May-14 | 9-May-14 | |
Common Stock [Member] | Series A Cumulative Convertible Preferred Stock [Member] | Series B Cumulative Convertible Preferred Stock [Member] | ||
Entity Information [Line Items] | ' | ' | ' | ' |
Entity Registrant Name | 'ACCESS PHARMACEUTICALS INC | ' | ' | ' |
Entity Central Index Key | '0000318306 | ' | ' | ' |
Current Fiscal Year End Date | '--12-31 | ' | ' | ' |
Entity Well-known Seasoned Issuer | 'No | ' | ' | ' |
Entity Voluntary Filers | 'No | ' | ' | ' |
Entity Current Reporting Status | 'Yes | ' | ' | ' |
Entity Filer Category | 'Smaller Reporting Company | ' | ' | ' |
Entity Common Stock, Shares Outstanding | ' | 26,104,443 | 2,903.36 | 1,000 |
Document Fiscal Year Focus | '2014 | ' | ' | ' |
Document Fiscal Period Focus | 'Q1 | ' | ' | ' |
Document Type | '10-Q | ' | ' | ' |
Amendment Flag | 'false | ' | ' | ' |
Document Period End Date | 31-Mar-14 | ' | ' | ' |
Condensed_Consolidated_Balance
Condensed Consolidated Balance Sheets (Unaudited) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
Current assets | ' | ' |
Cash and cash equivalents | $299,000 | $424,000 |
Receivables | 59,000 | 74,000 |
Prepaid expenses and other current assets | 82,000 | 77,000 |
Total current assets | 440,000 | 575,000 |
Property and equipment, net | 6,000 | 6,000 |
Other assets | 32,000 | 32,000 |
Total assets | 478,000 | 613,000 |
Current liabilities | ' | ' |
Accounts payable | 1,075,000 | 863,000 |
Accrued expenses | 857,000 | 857,000 |
Dividends payable | 7,510,000 | 6,663,000 |
Current portion of deferred revenue | 602,000 | 578,000 |
Total current liabilities | 10,044,000 | 8,961,000 |
Derivative liability - preferred stock | 607,000 | 1,190,000 |
Long-term deferred revenue | 5,320,000 | 5,241,000 |
Total liabilities | 15,971,000 | 15,392,000 |
Commitments and contingencies | ' | ' |
Stockholders' deficit | ' | ' |
Common stock - $.01 par value; authorized 200,000,000 shares; issued, 25,954,443 at March 31, 2014 and 25,729,443 at December 31, 2013 | 260,000 | 257,000 |
Additional paid-in capital | 251,525,000 | 251,389,000 |
Treasury stock, at cost - 163 shares | -4,000 | -4,000 |
Accumulated deficit | -267,274,000 | -266,421,000 |
Total stockholders' deficit | -15,493,000 | -14,779,000 |
Total liabilities and stockholders' deficit | 478,000 | 613,000 |
Series A Convertible Preferred Stock [Member] | ' | ' |
Stockholders' deficit | ' | ' |
Convertible preferred stock | 0 | 0 |
Series B Convertible Preferred Stock [Member] | ' | ' |
Stockholders' deficit | ' | ' |
Convertible preferred stock | $0 | $0 |
Condensed_Consolidated_Balance1
Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
Stockholders' deficit | ' | ' |
Common stock- par value (in dollars per share) | $0.01 | $0.01 |
Common stock, shares authorized (in shares) | 200,000,000 | 200,000,000 |
Common stock, shares issued (in shares) | 25,954,443 | 25,729,443 |
Treasury stock, shares (in shares) | 163 | 163 |
Series A Convertible Preferred Stock [Member] | ' | ' |
Stockholders' deficit | ' | ' |
Convertible preferred stock - par value (in dollars per share) | $0.01 | $0.01 |
Convertible preferred stock- authorized (in shares) | 2,000,000 | 2,000,000 |
Convertible preferred stock- shares issued (in shares) | 2,903.36 | 2,903.36 |
Series B Convertible Preferred Stock [Member] | ' | ' |
Stockholders' deficit | ' | ' |
Convertible preferred stock - par value (in dollars per share) | $0.01 | $0.01 |
Convertible preferred stock- authorized (in shares) | 2,000,000 | 2,000,000 |
Convertible preferred stock- shares issued (in shares) | 1,000 | 1,000 |
Condensed_Consolidated_Stateme
Condensed Consolidated Statements of Operations (Unaudited) (USD $) | 3 Months Ended | |
Mar. 31, 2014 | Mar. 31, 2013 | |
Revenues | ' | ' |
Product sales | $0 | $1,162,000 |
License revenues | 146,000 | 62,000 |
Royalties | 62,000 | 0 |
Total revenues | 208,000 | 1,224,000 |
Expenses | ' | ' |
Research and development | 72,000 | 323,000 |
Product costs | 0 | 65,000 |
Selling, general and administrative | 733,000 | 1,338,000 |
Depreciation and amortization | 0 | 1,000 |
Total expenses | 805,000 | 1,727,000 |
Loss from operations | -597,000 | -503,000 |
Interest and miscellaneous income | 8,000 | 94,000 |
Interest and other expense | -122,000 | -43,000 |
(Loss) gain on change in fair value of derivative - warrants | 0 | -247,000 |
Gain on change in fair value of derivative - preferred stock | 583,000 | 4,780,000 |
Total non operating income (expense) | 469,000 | 4,584,000 |
Net income (loss) | -128,000 | 4,081,000 |
Less preferred stock dividends | 725,000 | 727,000 |
Net income (loss) allocable to common stockholders | ($853,000) | $3,354,000 |
Net income (loss) per common share | ' | ' |
Basic (in dollars per share) | ($0.03) | $0.14 |
Diluted (in dollars per share) | ($0.03) | $0.13 |
Weighted average number of common shares outstanding | ' | ' |
Basic (in shares) | 25,876,943 | 24,800,936 |
Diluted (in shares) | 25,876,943 | 25,156,201 |
Condensed_Consolidated_Stateme1
Condensed Consolidated Statements of Stockholders' Deficit (Unaudited) (USD $) | Common Stock [Member] | Preferred Stock - A [Member] | Preferred Stock - B [Member] | Additional paid-in capital [Member] | Treasury stock [Member] | Accumulated deficit [Member] | Total |
Balance at Dec. 31, 2013 | $257,000 | $0 | $0 | $251,389,000 | ($4,000) | ($266,421,000) | ($14,779,000) |
Balance (in shares) at Dec. 31, 2013 | 25,729,443 | 2,903.36 | 1,000 | ' | ' | ' | ' |
Common stock issued to employees | 3,000 | 0 | 0 | 72,000 | 0 | 0 | 0 |
Common stock issued to employees (in shares) | 225,000 | 0 | 0 | ' | ' | ' | ' |
Stock option compensation expense | 0 | 0 | 0 | 64,000 | 0 | 0 | ' |
Preferred dividends | 0 | 0 | 0 | 0 | 0 | -725,000 | -725,000 |
Net income | 0 | 0 | 0 | 0 | 0 | -128,000 | -128,000 |
Balance at Mar. 31, 2014 | $260,000 | $0 | $0 | $251,525,000 | ($4,000) | ($267,274,000) | ($15,493,000) |
Balance (in shares) at Mar. 31, 2014 | 25,954,443 | 2,903.36 | 1,000 | ' | ' | ' | ' |
Condensed_Consolidated_Stateme2
Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $) | 3 Months Ended | |
Mar. 31, 2014 | Mar. 31, 2013 | |
Cash flows from operating activities: | ' | ' |
Net income (loss) | ($128,000) | $4,081,000 |
Adjustments to reconcile net income (loss) to cash provided by (used in) operating activities: | ' | ' |
Loss on change in fair value of derivative - warrants | 0 | 247,000 |
(Gain) on change in fair value of derivative - preferred stock | -583,000 | -4,780,000 |
Depreciation and amortization | 0 | 1,000 |
Stock option compensation expense | 64,000 | 77,000 |
Stock issued to directors and employees | 0 | 29,000 |
Stock issued for services | 75,000 | 10,000 |
Change in operating assets and liabilities: | ' | ' |
Receivables | 15,000 | -391,000 |
Inventory | 0 | 44,000 |
Prepaid expenses and other current assets | -5,000 | 9,000 |
Accounts payable and accrued expenses | 212,000 | 346,000 |
Interest payable on dividends | 122,000 | 43,000 |
Deferred revenue | 103,000 | -62,000 |
Net cash provided by (used in) operating activities | -125,000 | -346,000 |
Net increase (decrease) in cash and cash equivalents | -125,000 | -346,000 |
Cash and cash equivalents at beginning of period | 424,000 | 396,000 |
Cash and cash equivalents at end of period | 299,000 | 50,000 |
Supplemental cash flow information: | ' | ' |
Cash paid for interest | 0 | 0 |
Supplemental disclosure of noncash transactions: | ' | ' |
Preferred stock dividends in dividends payable | $725,000 | $727,000 |
Interim_Financial_Statements
Interim Financial Statements | 3 Months Ended | |
Mar. 31, 2014 | ||
Interim Financial Statements [Abstract] | ' | |
Interim Financial Statements | ' | |
-1 | Interim Financial Statements | |
The condensed consolidated balance sheet as of March 31, 2014, the condensed consolidated statements of operations for the three months ended March 31, 2014 and 2013, the condensed consolidated statements of stockholders' deficit for the three months ended March 31, 2014, and the condensed consolidated statements of cash flows for the three months ended March 31, 2014 and 2013, were prepared by management without audit. In the opinion of management, all adjustments, consisting only of normal recurring adjustments, except as otherwise disclosed, necessary for the fair presentation of the financial position, results of operations, and changes in financial position for such periods, have been made. | ||
Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted. It is suggested that these interim financial statements be read in conjunction with the consolidated financial statements and notes thereto included in our Annual Report on Form 10-K for the year ended December 31, 2013. The results of operations for the period ended March 31, 2014 are not necessarily indicative of the operating results which may be expected for a full year. The condensed consolidated balance sheet as of December 31, 2013 contains financial information taken from the audited Access financial statements as of that date. | ||
The report of our independent registered public accounting firm for the fiscal year ended December 31, 2013 contained a fourth explanatory paragraph to reflect its substantial doubt about our ability to continue as a going concern as a result of our history of losses and our liquidity position, as discussed therein and in this Quarterly Report on Form 10-Q. We expect that our capital resources, revenues from MuGard sales and expected receipts due under our license agreements will be adequate to fund our current level of operations into the first quarter of 2015. If we are unable to obtain adequate capital funding in the future or enter into future license agreements for our products, we may not be able to continue as a going concern, which would have an adverse effect on our business and operations, and investors' investment in us may decline. | ||
Certain reclassifications to the consolidated financial statements for all periods presented have been made to conform to the March 31, 2014 presentation. |
Liquidity
Liquidity | 3 Months Ended |
Mar. 31, 2014 | |
LIQUIDITY [Abstract] | ' |
Liquidity | ' |
(2) Liquidity | |
The Company generated net loss allocable to common stockholders of $853,000 for the three months ended March 31, 2014 and a net income of $1,551,000 for the year ended December 31, 2013. At March 31, 2014, our working capital deficit was $9,604,000. Management believes that our current cash, revenues from MuGard royalties and expected license fees should fund our expected burn rate into the first quarter of 2015. We will require additional funds to continue operations. These funds are expected to come from the future sales of equity and/or license agreements. If we are unable to obtain adequate capital funding in the future or enter into future license agreements for our products, we may not be able to continue as a going concern, which would have an adverse effect on our business and operations, and investors' investment in us may decline. |
Fair_Value_of_Financial_Instru
Fair Value of Financial Instruments | 3 Months Ended | ||||||||||||||||||||
Mar. 31, 2014 | |||||||||||||||||||||
Fair Value of Financial Instruments [Abstract] | ' | ||||||||||||||||||||
Fair Value of Financial Instruments | ' | ||||||||||||||||||||
(3) Fair Value of Financial Instruments | |||||||||||||||||||||
The carrying value of cash equivalents, receivables, accounts payable and accruals approximate fair value due to the short maturity of these items. | |||||||||||||||||||||
Effective January 1, 2008, we adopted fair value measurement guidance issued by the FASB related to financial assets and liabilities which define fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants at the measurement date. This guidance establishes a three-level fair value hierarchy that prioritizes the inputs used to measure fair value. The hierarchy requires entities to maximize the use of observable inputs and minimize the use of unobservable inputs. The three levels of inputs used to measure fair value are as follows: | |||||||||||||||||||||
• | Level 1 – Quoted prices in active markets for identical assets or liabilities. | ||||||||||||||||||||
• | Level 2 – Observable inputs other than quoted prices included in Level 1, such as quoted prices for similar assets and liabilities in active markets; quoted prices for identical or similar assets and liabilities in markets that are not active; or other inputs that are observable or can be corroborated by observable market data. | ||||||||||||||||||||
• | Level 3 – Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets and liabilities. This includes certain pricing models, discounted cash flow methodologies and similar valuation techniques that use significant unobservable inputs. | ||||||||||||||||||||
The guidance requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. | |||||||||||||||||||||
We have segregated all financial assets and liabilities that are measured at fair value on a recurring basis (at least annually) into the most appropriate level within the fair value hierarchy based on the inputs used to determine the fair value at the measurement date in the table below. | |||||||||||||||||||||
Financial assets and liabilities measured at fair value on a recurring basis as of March 31, 2014 and December 31, 2013 are summarized below: | |||||||||||||||||||||
(in thousands) | |||||||||||||||||||||
As of | Level 1 | Level 2 | Level 3 | Total Gains | |||||||||||||||||
Description | 31-Mar-14 | (Losses) | |||||||||||||||||||
Liabilities: | |||||||||||||||||||||
Derivative liability- | |||||||||||||||||||||
preferred stock | $ | 607 | $ | - | $ | - | $ | 607 | $ | 583 | |||||||||||
(in thousands) | |||||||||||||||||||||
As of | Level 1 | Level 2 | Level 3 | Total Gains | |||||||||||||||||
31-Dec-13 | (Losses) | ||||||||||||||||||||
Description | |||||||||||||||||||||
Liabilities: | |||||||||||||||||||||
Derivative liability- | |||||||||||||||||||||
preferred stock | $ | 1,190 | $ | - | $ | - | $ | 1,190 | $ | 8,010 | |||||||||||
In order to calculate the Level 3 Derivative liability - preferred stock, we used the Monte Carlo simulation to estimate future stock prices. The use of valuation techniques requires the Company to make various key assumptions for inputs into the model, including assumptions about the expected future volatility of the price of the Company's stock. In estimating the fair value at March 31, 2014 and December 31, 2013, we based our selected volatility on the one-year historic volatility of the Company's stock as we believe this is most representative of the expected volatility in the near future for the Company. |
Stock_Based_Compensation
Stock Based Compensation | 3 Months Ended | ||||||||
Mar. 31, 2014 | |||||||||
Stock Based Compensation [Abstract] | ' | ||||||||
Stock Based Compensation | ' | ||||||||
(4) Stock Based Compensation | |||||||||
For the three months ended March 31, 2014, we recognized stock-based compensation expense of $64,000. For the three months ended March 31, 2013 we recognized stock-based compensation expense of $77,000. | |||||||||
The following table summarizes stock-based compensation for the three months ended March 31, 2014 and 2013: | |||||||||
Three months ended | |||||||||
March 31, | |||||||||
2014 | 2013 | ||||||||
Research and development | $ | 5,000 | $ | 9,000 | |||||
Selling, general and administrative | 59,000 | 68,000 | |||||||
Stock-based compensation expense | $ | 64,000 | $ | 77,000 | |||||
included in operating expense | |||||||||
For both the three months ended March 31, 2014 we granted 10,500,000 options and for the three months ended March 31, 2013 we granted no stock options. | |||||||||
For the three months ended March 31, 2014 and 2013, stock valued at $0 and $29,000, respectively, was granted to directors and officers. |
Litigation
Litigation | 3 Months Ended |
Mar. 31, 2014 | |
Litigation [Abstract] | ' |
Litigation | ' |
(5) Litigation | |
Alan Schmidt, a former shareholder of Genaera Corporation ("Genaera"), and a former unitholder of the Genaera Liquidating Trust (the "Trust"), filed a purported class action in the United States District Court for the Eastern District of Pennsylvania in June 2012. The lawsuit named thirty defendants, including the Company, MacroChem Corporation, which was acquired by the Company in February 2009, Jeffrey Davis, the CEO and a director of the Company, and Steven H. Rouhandeh and Mark Alvino, both of whom are Company directors (the "Access Defendants"). With respect to the Access Defendants, the complaint alleged direct and derivative claims asserting that directors of Genaera and the Trustee of the Trust breached their fiduciary duties to Genaera, Genaera's shareholders and the Trust's unitholders in connection with the licensing and disposition of certain assets, aided and abetted by numerous defendants including the Access Defendants. Schmidt seeks money damages, disgorgement of any distributions received from the Trust, rescission of sales made by the Trust, attorneys' and expert fees, and costs. On December 19, 2012, Schmidt filed an amended complaint which asserted substantially the same allegations with respect to the Access Defendants. On February 4, 2013, the Access Defendants moved to dismiss all claims asserted against them. On August 12, 2013 the court granted the Access Defendants' motions to dismiss and entered judgment in favor of the Access Defendants on all claims. On August 26, 2013, Schmidt filed a motion for reconsideration. On September 10, 2013 Schmidt filed a Notice of Appeal with the District Court. On September 17, 2013, Schmidt filed his appeal with the U.S. Third Circuit Court of Appeals. On September 25, 2013, the District Court denied Schmidt's motion for reconsideration. On October 17, 2013, Schmidt amended his appeal to include the District court's denial of his motion for reconsideration. The Company intends to contest the claims vigorously. | |
We are not currently subject to any other material pending legal proceedings. |
Basic_and_Diluted_Net_Income_L
Basic and Diluted Net Income (Loss) Per Common Share | 3 Months Ended | ||||||||
Mar. 31, 2014 | |||||||||
Basic and Diluted Net Income (Loss) Per Common Share [Abstract] | ' | ||||||||
Basic and Diluted Net Income (Loss) Per Common Share | ' | ||||||||
(6) Basic and Diluted Net Income (Loss) Per Common Share | |||||||||
Basic net income or loss per share is based upon the weighted average number of common shares outstanding during the period. Diluted net income or loss per share is based upon the weighted average number of common shares outstanding during the period, plus the effect of additional weighted average common equivalent shares outstanding during the period when the effect of adding such shares is dilutive. Common equivalent shares result from the assumed exercise of outstanding stock options and warrants (the proceeds of which are then assumed to have been used to repurchase outstanding stock using the treasury stock method). In addition, the assumed proceeds under the treasury stock method include the average unrecognized compensation expense of stock options that are in-the-money. This results in the "assumed" buyback of additional shares, thereby reducing the dilutive impact of stock options and warrants. Common equivalent shares have not been included in the net loss per share calculations for the three months ended March 31, 2014, because the effect of including them would have been anti-dilutive. | |||||||||
Basic and diluted net income (loss) per share were determined as follows: | |||||||||
Three months ended | |||||||||
(in thousands, except share and per share amounts) | March 31, | ||||||||
2014 | 2013 | ||||||||
Net income (loss) | $ | (853 | ) | $ | 3,354 | ||||
Weighted average shares outstanding | 25,876,943 | 24,800,936 | |||||||
Basic net income (loss) per common share | $ | (0.03 | ) | $ | 0.14 | ||||
Net income (loss) | $ | (853 | ) | $ | 3,354 | ||||
Weighted average shares outstanding | 25,876,943 | 24,800,936 | |||||||
Effect of dilutive options and warrants | - | 355,265 | |||||||
Weighted average shares outstanding assuming dilution | 25,876,943 | 22,156,201 | |||||||
Diluted net income (loss) per common share | $ | (0.03 | ) | $ | 0.13 | ||||
We did not include the following securities in the table below in the computation of diluted net income (loss) per common share because the securities were anti-dilutive during the periods presented: | |||||||||
31-Mar-14 | 31-Mar-13 | ||||||||
Warrants | 31,072,726 | 35,683,943 | |||||||
Stock options | 11,944,200 | 863,904 | |||||||
Preferred stock Series A | 58,067,234 | 58,267,234 | |||||||
Preferred stock Series B | 20,000,000 | 20,000,000 | |||||||
Total | 121,084,160 | 114,815,081 | |||||||
Fair_Value_of_Financial_Instru1
Fair Value of Financial Instruments (Tables) | 3 Months Ended | ||||||||||||||||||||
Mar. 31, 2014 | |||||||||||||||||||||
Fair Value of Financial Instruments [Abstract] | ' | ||||||||||||||||||||
Financial assets and liabilities measured at fair value on a recurring basis | ' | ||||||||||||||||||||
Financial assets and liabilities measured at fair value on a recurring basis as of March 31, 2014 and December 31, 2013 are summarized below: | |||||||||||||||||||||
(in thousands) | |||||||||||||||||||||
As of | Level 1 | Level 2 | Level 3 | Total Gains | |||||||||||||||||
Description | 31-Mar-14 | (Losses) | |||||||||||||||||||
Liabilities: | |||||||||||||||||||||
Derivative liability- | |||||||||||||||||||||
preferred stock | $ | 607 | $ | - | $ | - | $ | 607 | $ | 583 | |||||||||||
(in thousands) | |||||||||||||||||||||
As of | Level 1 | Level 2 | Level 3 | Total Gains | |||||||||||||||||
31-Dec-13 | (Losses) | ||||||||||||||||||||
Description | |||||||||||||||||||||
Liabilities: | |||||||||||||||||||||
Derivative liability- | |||||||||||||||||||||
preferred stock | $ | 1,190 | $ | - | $ | - | $ | 1,190 | $ | 8,010 |
Stock_Based_Compensation_Table
Stock Based Compensation (Tables) | 3 Months Ended | ||||||||
Mar. 31, 2014 | |||||||||
Stock Based Compensation [Abstract] | ' | ||||||||
Summarization of stock-based compensation | ' | ||||||||
The following table summarizes stock-based compensation for the three months ended March 31, 2014 and 2013: | |||||||||
Three months ended | |||||||||
March 31, | |||||||||
2014 | 2013 | ||||||||
Research and development | $ | 5,000 | $ | 9,000 | |||||
Selling, general and administrative | 59,000 | 68,000 | |||||||
Stock-based compensation expense | $ | 64,000 | $ | 77,000 | |||||
included in operating expense | |||||||||
Basic_and_Diluted_Net_Income_L1
Basic and Diluted Net Income (Loss) Per Common Share (Tables) | 3 Months Ended | ||||||||
Mar. 31, 2014 | |||||||||
Basic and Diluted Net Income (Loss) Per Common Share [Abstract] | ' | ||||||||
Basic and diluted net income (loss) per share | ' | ||||||||
Basic and diluted net income (loss) per share were determined as follows: | |||||||||
Three months ended | |||||||||
(in thousands, except share and per share amounts) | March 31, | ||||||||
2014 | 2013 | ||||||||
Net income (loss) | $ | (853 | ) | $ | 3,354 | ||||
Weighted average shares outstanding | 25,876,943 | 24,800,936 | |||||||
Basic net income (loss) per common share | $ | (0.03 | ) | $ | 0.14 | ||||
Net income (loss) | $ | (853 | ) | $ | 3,354 | ||||
Weighted average shares outstanding | 25,876,943 | 24,800,936 | |||||||
Effect of dilutive options and warrants | - | 355,265 | |||||||
Weighted average shares outstanding assuming dilution | 25,876,943 | 22,156,201 | |||||||
Diluted net income (loss) per common share | $ | (0.03 | ) | $ | 0.13 | ||||
Antidilutive securities excluded from computation of earnings per share | ' | ||||||||
We did not include the following securities in the table below in the computation of diluted net income (loss) per common share because the securities were anti-dilutive during the periods presented: | |||||||||
31-Mar-14 | 31-Mar-13 | ||||||||
Warrants | 31,072,726 | 35,683,943 | |||||||
Stock options | 11,944,200 | 863,904 | |||||||
Preferred stock Series A | 58,067,234 | 58,267,234 | |||||||
Preferred stock Series B | 20,000,000 | 20,000,000 | |||||||
Total | 121,084,160 | 114,815,081 |
Liquidity_Details
Liquidity (Details) (USD $) | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2014 | Mar. 31, 2013 | Dec. 31, 2013 | |
LIQUIDITY [Abstract] | ' | ' | ' |
Net income (loss) allocable to common stockholders | ($853,000) | $3,354,000 | $1,551,000 |
Working capital deficit | $9,604,000 | ' | ' |
Fair_Value_of_Financial_Instru2
Fair Value of Financial Instruments (Details) (USD $) | 3 Months Ended | 3 Months Ended | 12 Months Ended | |||||||||
Mar. 31, 2014 | Mar. 31, 2013 | Dec. 31, 2013 | Mar. 31, 2014 | Dec. 31, 2012 | Dec. 31, 2013 | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2014 | Dec. 31, 2013 | |
Recurring [Member] | Recurring [Member] | Recurring [Member] | Recurring [Member] | Recurring [Member] | Recurring [Member] | Recurring [Member] | Recurring [Member] | Recurring [Member] | ||||
Preferred Stock [Member] | Preferred Stock [Member] | Preferred Stock [Member] | Preferred Stock [Member] | Preferred Stock [Member] | Preferred Stock [Member] | Preferred Stock [Member] | Preferred Stock [Member] | Preferred Stock [Member] | ||||
Level 1 [Member] | Level 1 [Member] | Level 2 [Member] | Level 2 [Member] | Level 3 [Member] | Level 3 [Member] | |||||||
Liabilities [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Derivative liability - preferred stock | $607,000 | ' | $1,190,000 | $607,000 | ' | $1,190,000 | $0 | $0 | $0 | $0 | $607,000 | $1,190,000 |
Total Gains (Losses) | $583,000 | $4,780,000 | ' | $583,000 | $8,010,000 | ' | ' | ' | ' | ' | ' | ' |
Period used as base for volatility | '1 year | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock_Based_Compensation_Detai
Stock Based Compensation (Details) (USD $) | 3 Months Ended | |
Mar. 31, 2014 | Mar. 31, 2013 | |
Stock-based compensation [Line Items] | ' | ' |
Stock-based compensation expense included in operating expense | $64,000 | $77,000 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Common stock issued to employees | 0 | 29,000 |
Stock options [Member] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Stock options granted (in shares) | 10,500,000 | 0 |
Research and development [Member] | ' | ' |
Stock-based compensation [Line Items] | ' | ' |
Stock-based compensation expense included in operating expense | 5,000 | 9,000 |
Selling, general and administrative [Member] | ' | ' |
Stock-based compensation [Line Items] | ' | ' |
Stock-based compensation expense included in operating expense | $59,000 | $68,000 |
Basic_and_Diluted_Net_Income_L2
Basic and Diluted Net Income (Loss) Per Common Share (Details) (USD $) | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2014 | Mar. 31, 2013 | Dec. 31, 2013 | |
Basic and Diluted Net Income (Loss) Per Common Share [Abstract] | ' | ' | ' |
Net income (loss) | ($853,000) | $3,354,000 | $1,551,000 |
Weighted average shares outstanding (in shares) | 25,876,943 | 24,800,936 | ' |
Basic net income (loss) per common share (in dollars per share) | ($0.03) | $0.14 | ' |
Net income (loss) | ($853,000) | $3,354,000 | ' |
Weighted average shares outstanding (in shares) | 25,876,943 | 24,800,936 | ' |
Effect of dilutive options and warrants (in shares) | 0 | 355,265 | ' |
Weighted average shares outstanding assuming dilution (in shares) | 25,876,943 | 25,156,201 | ' |
Diluted net income (loss) per common share (in dollars per share) | ($0.03) | $0.13 | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' |
Antidilutive securities not included in computation of diluted net income (loss) per common share (in shares) | 121,084,160 | 114,815,081 | ' |
Warrants [Member] | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' |
Antidilutive securities not included in computation of diluted net income (loss) per common share (in shares) | 31,072,726 | 35,683,943 | ' |
Stock options [Member] | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' |
Antidilutive securities not included in computation of diluted net income (loss) per common share (in shares) | 11,944,200 | 863,904 | ' |
Preferred Stock - A [Member] | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' |
Antidilutive securities not included in computation of diluted net income (loss) per common share (in shares) | 58,067,234 | 58,267,234 | ' |
Preferred Stock - B [Member] | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' |
Antidilutive securities not included in computation of diluted net income (loss) per common share (in shares) | 20,000,000 | 20,000,000 | ' |