Document_and_Entity_Informatio
Document and Entity Information | 3 Months Ended | |
Mar. 31, 2014 | 5-May-14 | |
Document and Entity Information | ' | ' |
Entity Registrant Name | 'GLOWPOINT, INC. | ' |
Entity Central Index Key | '0000746210 | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Entity Filer Category | 'Smaller Reporting Company | ' |
Document Type | '10-Q | ' |
Document Period End Date | 31-Mar-14 | ' |
Document Fiscal Year Focus | '2014 | ' |
Document Fiscal Period Focus | 'Q1 | ' |
Amendment Flag | 'false | ' |
Entity Common Stock, Shares Outstanding | ' | 35,493,000 |
CONDENSED_CONSOLIDATED_BALANCE
CONDENSED CONSOLIDATED BALANCE SHEETS (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Current assets: | ' | ' |
Cash | $2,186 | $2,294 |
Accounts receivable, net | 3,621 | 4,077 |
Prepaid expenses and other current assets | 410 | 404 |
Total current assets | 6,217 | 6,775 |
Property and equipment, net | 2,826 | 2,867 |
Goodwill | 9,825 | 9,825 |
Intangibles, net | 5,684 | 5,998 |
Other assets | 392 | 421 |
Total assets | 24,944 | 25,886 |
Current liabilities: | ' | ' |
Current portion of long-term debt | 901 | 950 |
Current portion of capital lease obligations | 170 | 217 |
Accounts payable | 1,707 | 1,885 |
Accrued expenses and other liabilities | 2,182 | 2,277 |
Accrued dividends | 25 | 20 |
Accrued sales taxes and regulatory fees | 506 | 590 |
Total current liabilities | 5,491 | 5,939 |
Long term liabilities: | ' | ' |
Capital lease obligations, net of current portion | 25 | 43 |
Long term debt, net of current portion | 10,235 | 10,235 |
Total long term liabilities | 10,260 | 10,278 |
Total liabilities | 15,751 | 16,217 |
Commitments and contingencies | ' | ' |
Stockholders’ equity: | ' | ' |
Preferred stock, Series A-2, convertible; $.0001 par value; $7,500 stated value; 7,500 shares authorized, 53 shares issued and outstanding and liquidation preference of $396 at March 31, 2014 and December 31, 2013 | 167 | 167 |
Common stock, $.0001 par value;150,000,000 shares authorized; 35,561,000 shares issued and 35,579,000 shares outstanding at March 31, 2014 and 35,306,000 shares issued and outstanding at December 31, 2013 | 4 | 4 |
Treasury stock, 18,000 and 0 shares at March 31, 2014 and December 31, 2013, respectively | -30 | 0 |
Additional paid-in capital | 177,745 | 177,357 |
Accumulated deficit | -168,693 | -167,859 |
Total stockholders’ equity | 9,193 | 9,669 |
Total liabilities and stockholders’ equity | $24,944 | $25,886 |
CONDENSED_CONSOLIDATED_BALANCE1
CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
Stockholders’ equity: | ' | ' |
Preferred stock Series A-2, convertible, par value (in dollars per share) | $0.00 | $0.00 |
Preferred stock Series A-2, stated value | $7,500 | $7,500 |
Preferred stock Series A-2, shares authorized | 7,500 | 7,500 |
Preferred stock Series A-2, shares issued | 53 | 53 |
Preferred stock Series A-2, shares outstanding | 53 | 53 |
Preferred stock Series A-2, liquidation value | $396,000 | $396,000 |
Common Stock, convertible, par value (in dollars per share) | $0.00 | $0.00 |
Common Stock, shares authorized | 150,000,000 | 150,000,000 |
Common Stock, shares issued | 35,561,000 | 35,306,000 |
Common Stock, shares outstanding | 35,579,000 | 35,306,000 |
Treasury Stock, shares | 18,000,000 | 0 |
CONDENSED_CONSOLIDATED_STATEME
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (USD $) | 3 Months Ended | |
In Thousands, except Per Share data, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Income Statement [Abstract] | ' | ' |
Revenue | $7,981 | $8,504 |
Operating expenses: | ' | ' |
Cost of revenue (exclusive of depreciation and amortization) | 4,870 | 4,957 |
Research and development | 166 | 235 |
Sales and marketing | 825 | 1,069 |
General and administrative | 1,910 | 3,087 |
Depreciation and amortization | 688 | 758 |
Total operating expenses | 8,459 | 10,106 |
Loss from operations | -478 | -1,602 |
Interest and other expense: | ' | ' |
Interest expense and other, net | 334 | 292 |
Amortization of deferred financing costs | 22 | 61 |
Amortization of debt discount | 0 | 30 |
Total interest and other expense, net | 356 | 383 |
Loss before income taxes | -834 | -1,985 |
Income tax expense (benefit) | 0 | 0 |
Net loss | -834 | -1,985 |
Preferred stock dividends | 5 | 105 |
Net loss attributable to common stockholders | ($839) | ($2,090) |
Net loss attributable to common stockholders per share: | ' | ' |
Basic and diluted net loss per share (in dollars per share) | ($0.02) | ($0.08) |
Weighted average number of common shares: | ' | ' |
Basic and diluted (in shares) | 34,858 | 27,703 |
CONDENSED_CONSOLIDATED_STATEME1
CONDENSED CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY (USD $) | Total | Preferred Stock [Member] | Common Stock [Member] | Treasury Stock [Member] | Additional Paid-in Capital [Member] | Accumulated Deficit [Member] |
In Thousands, except Share data, unless otherwise specified | Series A-2 Preferred Stock [Member] | |||||
Beginning Balance, Value at Dec. 31, 2013 | $9,669 | $167 | $4 | $0 | $177,357 | ($167,859) |
Beginning Balance, Shares at Dec. 31, 2013 | ' | -53 | -35,306,000 | 0 | ' | ' |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' | ' |
Net loss | -834 | ' | ' | ' | ' | -834 |
Stock-based compensation | 194 | ' | ' | ' | 194 | ' |
Issuance of restricted stock to settle accrued 2013 bonuses, Shares | ' | ' | 123,000 | ' | ' | ' |
Issuance of restricted stock to settle accrued 2013 bonuses, Value | 204 | ' | ' | ' | 204 | ' |
Issuance of restricted stock, net of forfeitures, Shares | ' | ' | 132,000 | ' | ' | ' |
Issuance of restricted stock, net of forfeitures, Value | 0 | ' | ' | ' | 0 | ' |
Cost of preferred stock exchange, Shares | ' | ' | 0 | ' | ' | ' |
Cost of preferred stock exchange, Value | -5 | ' | ' | ' | -5 | ' |
Preferred stock dividends | -5 | ' | ' | ' | -5 | ' |
Repurchase of common stock, Shares | ' | ' | ' | -18,000 | ' | ' |
Repurchase of common stock, Value | -30 | ' | ' | -30 | ' | ' |
Ending Balance, Value at Mar. 31, 2014 | $9,193 | $167 | $4 | ($30) | $177,745 | ($168,693) |
Ending Balance, Shares at Mar. 31, 2014 | ' | -53 | -35,561,000 | -18,000 | ' | ' |
CONDENSED_CONSOLIDATED_STATEME2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Cash flows from operating activities: | ' | ' |
Net loss | ($834) | ($1,985) |
Adjustments to reconcile net loss to net cash provided by operating activities: | ' | ' |
Depreciation and amortization | 688 | 758 |
Bad debt (recovery) expense | -107 | 26 |
Amortization of deferred financing costs | 22 | 61 |
Amortization of debt discount | 0 | 30 |
Loss on impairment/disposal of equipment | 101 | 435 |
Stock-based compensation | 233 | 608 |
Increase (decrease) attributable to changes in assets and liabilities: | ' | ' |
Accounts receivable | 564 | 388 |
Prepaid expenses and other current assets | -6 | 93 |
Other assets | 8 | 10 |
Accounts payable | -179 | -293 |
Accrued expenses and other liabilities | 44 | 133 |
Net cash provided by operating activities | 534 | 264 |
Cash flows from investing activities: | ' | ' |
Purchases of property and equipment | -434 | -124 |
Net cash used in investing activities | -434 | -124 |
Cash flows from financing activities: | ' | ' |
Costs of preferred stock exchange | -5 | 0 |
Principal payments for capital lease obligations | 65 | 59 |
Principal payments under borrowing arrangements | 49 | 0 |
Payment of debt issuance costs | -59 | -133 |
Purchase of treasury stock | -30 | 0 |
Net cash used in financing activities | -208 | -192 |
Decrease in cash and cash equivalents | -108 | -52 |
Cash at beginning of period | 2,294 | 2,218 |
Cash at end of period | 2,186 | 2,166 |
Supplement disclosures of cash flow information: | ' | ' |
Cash paid during the period for interest | 328 | 292 |
Non-cash investing and financing activities: | ' | ' |
Preferred stock dividends | 5 | 105 |
Reduction of debt in connection with severance obligations related to acquisition of Affinity | 0 | 240 |
Issuance of restricted stock to settle accrued 2013 bonuses | $165 | $0 |
Basis_of_Presentation_and_Liqu
Basis of Presentation and Liquidity | 3 Months Ended |
Mar. 31, 2014 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' |
Basis of Presentation and Liquidity | ' |
Basis of Presentation and Liquidity | |
The Business | |
Glowpoint, Inc. (“Glowpoint” or “we” or “us” or the “Company”) is a provider of video collaboration services and network services. Our services enable our customers to use videoconferencing as an efficient and effective method of communication for their business meetings. Our customers include Fortune 1000 companies, along with small and medium enterprises in a variety of industries. We market our services globally through a multi-channel sales approach that includes direct sales and channel partners. | |
The Company was formed as a Delaware corporation in May 2000. The Company operates in one segment and therefore segment information is not presented. | |
Liquidity | |
As of March 31, 2014, we had $2,186,000 of cash and working capital of $726,000. Our cash balance as of March 31, 2014 includes restricted cash of $185,000 (as discussed in Note 3). For the three months ended March 31, 2014, we generated a net loss of $834,000 and net cash provided by operating activities of $534,000. We generated cash flow from operations even though we incurred a net loss due to certain non-cash expenses and changes in working capital. | |
In October 2013, the Company entered into a loan agreement by and among the Company and its subsidiaries, and Main Street Capital Corporation (“Main Street”), as lender and as administrative agent and collateral agent for itself and the other lenders from time to time party thereto (the "Main Street Loan Agreement"). The Main Street Loan Agreement provides for an $11,000,000 senior secured term loan facility (“Main Street Term Loan”) and a $2,000,000 senior secured revolving loan facility (the “Main Street Revolver”). As of March 31, 2014, the Company had outstanding borrowings of $9,000,000 under the Main Street Term Loan and $251,000 on the Main Street Revolver. | |
Based on our current projection of revenue, expenses, capital expenditures and cash flows, the Company believes that it has, and will have, sufficient resources and cash flows to service its debt obligations and fund its operations for at least the next twelve months following the filing of this Quarterly Report on Form 10-Q. As of March 31, 2014, we have availability of $1,749,000 under the Main Street Revolver and $2,000,000 under the Main Street Term Loan (subject to approval by Main Street under the terms of the Main Street Loan Agreement). In the event we need to raise additional capital to fund operations and provide growth capital, we have historically been able to raise capital in private placements as needed. There can be no assurances, however, that we will be able to raise additional capital as may be needed or upon acceptable terms, or that current economic conditions will not negatively impact us. If the current or future economic conditions negatively impact us and we are unable to raise additional capital that may be needed on terms acceptable to us, it could have a material adverse effect on the Company. | |
Quarterly Financial Information and Results of Operations | |
The condensed consolidated financial statements as of March 31, 2014 and for the three months ended March 31, 2014 and 2013 are unaudited and, in the opinion of management, include all adjustments (consisting only of normal recurring adjustments) necessary to present fairly the financial position as of March 31, 2014, and the results of operations for the three months ended March 31, 2014 and 2013, the statement of stockholders' equity for the three months ended March 31, 2014 and the statement of cash flows for the three months ended March 31, 2014 and 2013. The results for the three months ended March 31, 2014 are not necessarily indicative of the results to be expected for the entire year. The condensed balance sheet as of December 31, 2013 was derived from audited financial statements as of December 31, 2013. While management of the Company believes that the disclosures presented are adequate to make the information not misleading, these condensed consolidated financial statements should be read in conjunction with audited consolidated financial statements and the footnotes thereto for the fiscal year ended December 31, 2013 as filed with the Securities and Exchange Commission (the "SEC") with our Form 10-K on March 6, 2014 (the "Audited 2013 Financial Statements"). |
Summary_of_Significant_Account
Summary of Significant Accounting Policies | 3 Months Ended |
Mar. 31, 2014 | |
Accounting Policies [Abstract] | ' |
Liquidity, Basis of Presentation and Summary of Significant Accounting Policies | ' |
Summary of Significant Accounting Policies | |
Principles of Consolidation | |
The condensed consolidated financial statements include the accounts of Glowpoint and our 100%-owned subsidiaries, Affinity VideoNet, Inc. ("Affinity") and GP Communications, LLC, whose business function is to provide interstate telecommunications services for regulatory purposes. All material inter-company balances and transactions have been eliminated in consolidation. | |
Use of Estimates | |
Preparation of the consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual amounts could differ from the estimates made. We continually evaluate estimates used in the preparation of the consolidated financial statements for reasonableness. Appropriate adjustments, if any, to the estimates used are made prospectively based upon such periodic evaluation. The significant areas of estimation include determining the allowance for doubtful accounts, deferred tax valuation allowance, accrued sales taxes, the valuation of goodwill, the valuation of intangible assets and their estimated lives, and the estimated lives and recoverability of property and equipment. | |
See "Summary of Significant Accounting Policies" in the Company's Audited 2013 Financial Statements for a discussion on the estimates and judgments necessary in the Company's accounting for financial instruments, concentration of credit risk, goodwill, intangible assets, property and equipment, income taxes, stock-based compensation, and accrued sales taxes and regulatory fees. | |
Accounting Standards Updates | |
There have been no recent accounting pronouncements or changes in accounting pronouncements during the three months ended March 31, 2014, as compared to the recent accounting pronouncements described in the Company's Audited 2013 Financial Statements, that are of material significance, or have potential material significance to the Company. | |
Revenue Recognition | |
Revenue billed in advance for video collaboration services is deferred until the revenue has been earned, which is when the related services have been performed. Other service revenue, including amounts passed through based on surcharges from our telecom carriers, related to the network services and collaboration services are recognized as service is provided. As the non-refundable, upfront installation and activation fees charged to the subscribers do not meet the criteria as a separate unit of accounting, they are deferred and recognized over the 12 to 24 month estimated life of the customer relationship. Revenue related to professional services is recognized at the time the services are performed. Revenues derived from other sources are recognized when services are provided or events occur. | |
Allowance for Doubtful Accounts | |
We record an allowance for doubtful accounts based on specifically identified amounts that are believed to be uncollectible. We also record additional allowances based on our aged receivables, which are determined based on historical experience and an assessment of the general financial conditions affecting our customer base. If our actual collections experience changes, revisions to our allowance may be required. After all attempts to collect a receivable have failed, the receivable is written off against the allowance. We do not obtain collateral from our customers to secure accounts receivable. The allowance for doubtful accounts was $115,000 and $221,000 at March 31, 2014 and December 31, 2013, respectively. | |
Taxes Billed to Customers and Remitted to Taxing Authorities | |
We recognize taxes billed to customers in revenue and taxes remitted to taxing authorities in our cost of revenue. For the three months ended March 31, 2014, we included taxes of $326,000 in revenue, and we included taxes of $310,000 in cost of revenue. For the three months ended March 31, 2013, we included taxes of $328,000 in revenue, and we included taxes of $312,000 in cost of revenue. | |
Impairment of Long-Lived Assets and Intangible Assets | |
We evaluate impairment losses on long-lived assets used in operations, primarily fixed assets and purchased intangible assets subject to amortization, when events and circumstances indicate that the carrying value of the assets might not be recoverable. For purposes of evaluating the recoverability of long-lived assets, the undiscounted cash flows estimated to be generated by those assets are compared to the carrying amounts of those assets. If and when the carrying values of the assets exceed their fair values, then the related assets will be written down to fair value. In the three months ended March 31, 2014, the Company recorded an impairment loss of $101,000 relating to idle property and equipment, primarily consisting of furniture and leasehold improvements, located in our Pennsylvania office. As discussed in Note 11, during the three months ended March 31, 2014, the Company vacated our Pennsylvania office and we are currently marketing such space for sublease. In the three months ended March 31, 2013, there was an impairment loss of $435,000 recorded for network equipment no longer being utilized in the Company's business. | |
Goodwill | |
Goodwill is not amortized but is subject to periodic testing for impairment. The test for impairment is conducted annually or more frequently if events occur or circumstances change indicating that the fair value of the goodwill may be below its carrying amount. The Company determined that no events occurred or circumstances changed during the three months ended March 31, 2014 that would indicate that the fair value of goodwill may be below its carrying amount. However, if market conditions deteriorate, or if the Company is unable to execute on its strategies, it may be necessary to record impairment charges in the future. | |
Capitalized Software Costs | |
The Company capitalizes certain costs incurred in connection with developing or obtaining internal-use software. All software development costs have been appropriately accounted for as required by ASC Topic 350-40 “Intangible – Goodwill and Other – Internal-Use Software.” Capitalized software costs are included in “Property and Equipment” on our condensed consolidated balance sheets and are amortized over three to four years. Software costs that do not meet capitalization criteria are expensed as incurred. For the three months ended March 31, 2014, we capitalized internal use software costs of $428,000 and we amortized $163,000 of these costs. For the three months ended March 31, 2013, we capitalized internal use software costs of $52,000 and we amortized $138,000 of these costs. During the three months ended March 31, 2014 and 2013, no impairment losses were recorded. |
Restricted_Cash
Restricted Cash | 3 Months Ended |
Mar. 31, 2014 | |
Restricted Cash and Investments [Abstract] | ' |
Restricted Cash | ' |
Restricted Cash | |
As of March 31, 2014, our cash balance of $2,186,000 included restricted cash of $185,000. The $185,000 letter of credit that serves as the security deposit for our lease of office space in Colorado (as discussed in Note 11) is secured by an equal amount of cash pledged as collateral and such cash is restricted by Comerica Bank. As of December 31, 2013, our cash balance of $2,294,000 included restricted cash of $242,000. | |
Accrued_Expenses_and_Other_Lia
Accrued Expenses and Other Liabilities | 3 Months Ended | |||||||
Mar. 31, 2014 | ||||||||
Other Liabilities Disclosure [Abstract] | ' | |||||||
Accrued Expenses | ' | |||||||
Accrued Expenses and Other Liabilities | ||||||||
Accrued expenses consisted of the following at March 31, 2014 and December 31, 2013 (in thousands): | ||||||||
March 31, 2014 | December 31, 2013 | |||||||
Accrued compensation | $ | 404 | $ | 755 | ||||
Accrued severance costs | 136 | 306 | ||||||
Accrued communication costs | 420 | 328 | ||||||
Accrued professional fees | 140 | 138 | ||||||
Accrued lease termination | 203 | — | ||||||
Other accrued expenses | 306 | 390 | ||||||
Deferred revenue | 137 | 197 | ||||||
Customer deposits | 436 | 163 | ||||||
Accrued expenses and other liabilities | $ | 2,182 | $ | 2,277 | ||||
Debt
Debt | 3 Months Ended | ||||||
Mar. 31, 2014 | |||||||
Debt Disclosure [Abstract] | ' | ||||||
Debt | ' | ||||||
Debt | |||||||
Long-term debt consists of the following (in thousands): | |||||||
March 31, 2014 | December 31, 2013 | ||||||
SRS Note | $ | 1,885 | $ | 1,885 | |||
Main Street Term Loan | 9,000 | 9,000 | |||||
Main Street Revolver | 251 | 300 | |||||
11,136 | 11,185 | ||||||
Less current maturities | (901 | ) | (950 | ) | |||
Long-term debt, net of current portion | $ | 10,235 | $ | 10,235 | |||
On October 17, 2013, the Company entered into the Main Street Loan Agreement by and among the Company and its subsidiaries, and Main Street Capital Corporation, as lender and as administrative agent and collateral agent for itself and the other lenders from time to time party thereto. The Main Street Loan Agreement provides for an $11,000,000 senior secured term loan facility and a $2,000,000 senior secured revolving loan facility. As of March 31, 2014, the Company had outstanding borrowings of $9,000,000 under the Main Street Term Loan and $251,000 on the Main Street Revolver. | |||||||
Borrowings under the Main Street Term Loan and Main Street Revolver mature on October 17, 2018 and October 17, 2015, respectively, unless sooner terminated as provided in the Main Street Loan Agreement. The Main Street Loan Agreement provides that the Main Street Term Loan borrowings bear interest at 12% per annum and the Main Street Revolver borrowings bear interest at 8% per annum. Interest payments on the outstanding borrowings under both the Main Street Term Loan and Main Street Revolver are due monthly. The Company is required to make quarterly principal payments on the Main Street Term Loan as follows: (i) starting on February 15, 2014 to April 15, 2015 in an amount equal to 33% of Excess Cash Flow generated by the Company (as defined in the Main Street Loan Agreement and effectively equal to cash flow from operations less capital expenditures less principal payments on capital leases) during the trailing fiscal quarter and (ii) from August 15, 2015 to August 15, 2018 in an amount equal to 50% of Excess Cash Flow generated by the Company during the trailing fiscal quarter. In the event there are outstanding borrowings on the Main Street Revolver, any quarterly principal payments are first applied to the Main Street Revolver and then to the Main Street Term Loan. During the three months ended March 31, 2014, the Company made a quarterly principal payment of $49,000 on the Main Street Revolver. | |||||||
The Company may prepay borrowings under the Main Street Loan Agreement at any time without premium or penalty, subject to certain notice and minimum prepayment requirements. The obligations of the Company under the Main Street Loan Agreement are secured by substantially all of the assets of the Company, including all intellectual property, equity interests in subsidiaries, equipment and other personal property. The Main Street Loan Agreement contains standard representations, warranties and covenants for a transaction of its nature, including, among other things, covenants relating to (i) financial reporting and notification, (ii) payment of obligations, (iii) compliance with applicable laws and (iv) notification of certain events. The Main Street Loan Agreement also contains various covenants and restrictive provisions which may, among other things, limit the Company's ability to sell assets, incur additional indebtedness, make investments or loans and create liens. The Main Street Loan Agreement also contains financial covenants, including a fixed charge coverage ratio covenant and a debt to Adjusted EBITDA ratio covenant. See“Management's Discussion and Analysis of Financial Condition and Results of Operations" under Item 2 of this Quarterly Report on Form 10-Q for a description of Adjusted EBITDA. The Main Street Loan Agreement contains events of default customary for similar financings with corresponding grace periods, including failure to pay any principal or interest when due, failure to perform or observe covenants, breaches of representations and warranties, certain cross defaults, certain bankruptcy related events, monetary judgments defaults and a change in control. Upon the occurrence of an event of default, the outstanding obligations under the Main Street Loan Agreement may be accelerated and become immediately due and payable. As of March 31, 2014, the Company was in compliance with all required covenants. | |||||||
In connection with the October 2012 acquisition of Affinity, the Company issued a promissory note (the “SRS Note”) to Shareholder Representative Services LLC ("SRS"), on behalf of the prior stockholders of Affinity. As of December 31, 2013 and March 31, 2014, the principal balance on the SRS Note was $1,885,000. The interest rate on the SRS Note is 10.0% per annum and interest is payable quarterly in arrears. The final maturity date of the SRS Note is January 4, 2016 and the Company is required to make monthly principal payments in the amount of $50,000 in the event the Company's trailing three month Adjusted EBITDA exceeds $1,500,000. The Company is required make additional payments on the principal amount on each of June 30, 2014 and December 31, 2014 in an amount equal to 40% of the Company’s trailing six month Adjusted EBITDA less $3,000,000. As of March 31, 2014, the Company has not made any principal payments on the SRS Note. | |||||||
As of March 31, 2014, the current portion of long-term debt recorded on the Company's balance sheet was $901,000, which reflects the sum of the following principal payments the Company expects to pay in the twelve months ending March 31, 2015: $450,000 on the Main Street Term Loan, $251,000 on the Main Street Revolver and $200,000 on the SRS Note. As discussed above, principal payments on the Main Street Term Loan and SRS Note are based on a percentage of Excess Cash Flow and achievement of certain Adjusted EBITDA levels, respectively. The principal payments related to these debt agreements are estimates and actual payments may vary. | |||||||
Unamortized financing costs related to our debt agreements of $341,000 and $363,000 are included in other assets in the accompanying condensed consolidated balance sheets as of March 31, 2014 and December 31, 2013, respectively. The financing costs are amortized using the effective interest method over the term of each loan through each maturity date. During the three months ended March 31, 2014 and 2013, there was $22,000 and $61,000 respectively, of amortization of financing costs, and $0 and $30,000 respectively, of amortization of debt discount. |
Capital_Lease_Obligations
Capital Lease Obligations | 3 Months Ended | |||||||||||
Mar. 31, 2014 | ||||||||||||
Leases [Abstract] | ' | |||||||||||
Capital Lease Obligations | ' | |||||||||||
Capital Lease Obligations | ||||||||||||
During the three months ended March 31, 2014, the Company did not enter into any non-cancelable capital lease agreements. Depreciation expense on the equipment under the capital lease obligations for the three months ended March 31, 2014 and 2013 was $40,000 and $40,000, respectively. Future minimum commitments under all non-cancelable capital leases as of March 31, 2014, are as follows (in thousands): | ||||||||||||
Year Ended December 31, | Total | Interest | Principal | |||||||||
Remaining 2014 | 157 | 5 | 152 | |||||||||
2015 | 43 | 1 | 42 | |||||||||
2016 | 1 | — | 1 | |||||||||
$ | 201 | $ | 6 | $ | 195 | |||||||
The current portion of the Company's capital lease obligations is $170,000 and the long-term portion is $25,000 at March 31, 2014. |
Preferred_Stock
Preferred Stock | 3 Months Ended |
Mar. 31, 2014 | |
Preferred Stock, Number of Shares, Par Value and Other Disclosures [Abstract] | ' |
Preferred Stock | ' |
Preferred Stock | |
Our Certificate of Incorporation authorizes the issuance of up to 5,000,000 shares of preferred stock. As of March 31, 2014, there were: 100 shares of Series B-1 Preferred Stock authorized, and no shares issued or outstanding; 7,500 shares of Series A-2 Preferred Stock authorized and 53 shares issued and outstanding; and 4,000 shares of Series D Preferred Stock authorized and no shares issued or outstanding. | |
Each share of Series A-2 Preferred Stock has a stated value of $7,500 per share (the “A-2 Stated Value”), a liquidation preference equal to the Series A-2 Stated Value, and is convertible at the holder’s election into Common Stock at a conversion price per share of $3.00. Therefore, each share of Series A-2 Preferred Stock is convertible into 2,500 shares of Common Stock. The Series A-2 Preferred Stock is subordinate to the Series B-1 Preferred Stock but senior to all other classes of equity, has weighted average anti-dilution protection and, commencing on January 1, 2013, is entitled to cumulative dividends at a rate of 5% per annum, payable quarterly, based on the Series A-2 Stated Value. Once dividend payments commence, all dividends are payable at the option of the holder in cash or through the issuance of a number of additional shares of Series A-2 Preferred Stock with an aggregate liquidation preference equal to the dividend amount payable on the applicable dividend payment date. As of March 31, 2014, the Company has recorded approximately $25,000 in accrued dividends on the accompanying condensed consolidated balance sheet related to the Series A-2 Preferred Stock. | |
In accordance with ASC Topic 815, we evaluated whether our convertible preferred stock contains provisions that protect holders from declines in our stock price or otherwise could result in modification of the exercise price and/or shares to be issued under the respective preferred stock agreements based on a variable that is not an input to the fair value of a “fixed-for-fixed” option and require a derivative liability. The Company determined no derivative liability is required under ASC Topic 815 with respect to our convertible preferred stock. A contingent beneficial conversion amount is required to be calculated and recognized when and if the adjusted $3.00 conversion price of the convertible preferred stock is adjusted to reflect a down round stock issuance that reduces the conversion price below the $1.16 fair value of the Common Stock on the issuance date of the convertible preferred stock. |
Stock_Options
Stock Options (Stock Options [Member]) | 3 Months Ended | ||||||||||||
Mar. 31, 2014 | |||||||||||||
Stock Options [Member] | ' | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ||||||||||||
Stock Options | ' | ||||||||||||
Stock Options | |||||||||||||
A summary of stock options granted, exercised, expired and forfeited under our stock incentive plans and stock options outstanding as of, and changes made during, the three months ended March 31, 2014, is presented below (shares in thousands): | |||||||||||||
Outstanding | Exercisable | ||||||||||||
Number of Shares Underlying Options | Weighted | Number of Shares Underlying Options | Weighted | ||||||||||
Average | Average | ||||||||||||
Exercise | Exercise | ||||||||||||
Price | Price | ||||||||||||
Options outstanding, December 31, 2013 | 1,792 | $ | 2.21 | 410 | $ | 2.71 | |||||||
Forfeited and canceled | (127 | ) | 2.96 | ||||||||||
Options outstanding, March 31, 2014 | 1,665 | $ | 2.15 | 673 | $ | 2.41 | |||||||
For the three months ended March 31, 2014, there were no options granted or exercised and none expired. The weighted average fair value of each option granted is estimated on the date of grant using the Black-Scholes option valuation model with the following weighted average assumptions during the three months ended March 31, 2013: | |||||||||||||
Risk free interest rate | 0.80% | ||||||||||||
Expected option lives | 5 years | ||||||||||||
Expected volatility | 104.00% | ||||||||||||
Estimated forfeiture rate | 10% | ||||||||||||
Expected dividend yields | — | ||||||||||||
Weighted average grant date fair value of options | $1.49 | ||||||||||||
The risk free interest rate is based on U.S. Treasury yields for securities in effect at the time of grants with terms approximating the expected life of the grants. The expected option lives and forfeiture rates are estimated based on the Company’s exercise and employment termination experience. The Company calculates expected volatility for a stock-based grant based on historic daily stock price observations of its Common Stock during the period immediately preceding the grant that is equal in length to the expected term of the grant. The assumptions used in the Black-Scholes option valuation model are highly subjective and can materially affect the resulting valuations. | |||||||||||||
Stock option compensation expense is allocated as follows for the three months ended March 31, 2014 and 2013 (in thousands): | |||||||||||||
Three Months Ended | |||||||||||||
March 31, | |||||||||||||
2014 | 2013 | ||||||||||||
General and administrative | $ | 141 | $ | 210 | |||||||||
The remaining unrecognized stock-based compensation expense for options as of March 31, 2014 was $1,219,000, of which $61,000, representing 30,000 options, will only be expensed upon a “change in control” as defined in our stock incentive plan, and the remaining $1,157,000 will be amortized over a weighted average period of approximately 1.3 years. | |||||||||||||
There was no tax benefit recognized for stock-based compensation for the three months ended March 31, 2014 or 2013. No compensation costs were capitalized as part of the cost of an asset during the periods presented. |
Restricted_Stock
Restricted Stock (Restricted Stock [Member]) | 3 Months Ended | |||||||
Mar. 31, 2014 | ||||||||
Restricted Stock [Member] | ' | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | |||||||
Restricted Stock | ' | |||||||
Restricted Stock | ||||||||
A summary of restricted stock granted, vested, forfeited and unvested outstanding as of, and changes made during, the three months ended March 31, 2014, is presented below (shares in thousands): | ||||||||
Restricted Shares | Weighted Average | |||||||
Grant Price | ||||||||
Unvested restricted shares outstanding, December 31, 2013 | 465 | $ | 2.03 | |||||
Granted | 413 | 1.52 | ||||||
Vested | (36 | ) | 1.77 | |||||
Forfeited | (158 | ) | 2.37 | |||||
Unvested restricted shares outstanding, March 31, 2014 | 684 | $ | 1.65 | |||||
The number of restricted shares vested during the three months ended March 31, 2014 includes 18,000 shares withheld and repurchased by the Company on behalf of employees to satisfy $30,000 of minimum statutory tax withholding requirements. Such shares are held in the Company's treasury stock as of March 31, 2014. | ||||||||
Restricted stock compensation expense is allocated as follows for the three months ended March 31, 2014 and 2013 (in thousands): | ||||||||
Three Months Ended | ||||||||
March 31, | ||||||||
2014 | 2013 | |||||||
Cost of revenue | $ | 16 | $ | 5 | ||||
Research and development | 3 | 3 | ||||||
Sales and marketing | 2 | 15 | ||||||
General and administrative | 71 | 375 | ||||||
$ | 92 | $ | 398 | |||||
During the three months ended March 31, 2014, additional paid in capital was increased by $204,000 relating to the issuance of restricted stock for settlement of bonuses, of which $165,000 was recorded in accrued expenses as of December 31, 2013. Stock based compensation expense related to these accrued bonuses was recorded during the year ended December 31, 2013. | ||||||||
The remaining unrecognized stock-based compensation expense for restricted stock as of March 31, 2014 was $811,000, of which $113,000, representing 45,000 shares, will only be expensed upon a “change in control” and the remaining $698,000 will be amortized over a weighted average period of 3.9 years. | ||||||||
There was no tax benefit recognized for stock-based compensation for the three months ended March 31, 2014 or 2013. No compensation costs were capitalized as part of the cost of an asset during the periods presented. |
Earnings_Loss_Per_Share
Earnings (Loss) Per Share | 3 Months Ended | |||||
Mar. 31, 2014 | ||||||
Earnings Per Share [Abstract] | ' | |||||
Earnings Per Share | ' | |||||
Earnings (Loss) Per Share | ||||||
Earnings (loss) per share is calculated by dividing net earnings attributable to common stockholders by the weighted average number of shares of Common Stock outstanding during the period. Diluted earnings (loss) per share reflects the potential dilution from the conversion or exercise into Common Stock of securities such as stock options and warrants. | ||||||
For the three months ended March 31, 2014 and 2013, diluted net loss per share is the same as basic net loss per share due to the Company's net loss and the potential shares of Common Stock that could have been issuable have been excluded from the calculation of diluted net loss per share because the effects, as a result of our net loss, would be anti-dilutive. Such potentially dilutive shares of Common Stock consist of the following (in thousands): | ||||||
Three Months Ended | ||||||
March 31, | ||||||
2014 | 2013 | |||||
Common Stock options | 1,665 | 1,996 | ||||
Unvested restricted stock | 684 | 891 | ||||
Warrants | — | 33 | ||||
Commitments_and_Contingencies
Commitments and Contingencies | 3 Months Ended | |||
Mar. 31, 2014 | ||||
Commitments and Contingencies Disclosure [Abstract] | ' | |||
Commitments and Contingencies | ' | |||
Commitments and Contingencies | ||||
Operating Leases | ||||
We lease several facilities under operating leases expiring through 2018. Certain leases require us to pay increases in real estate taxes, operating costs and repairs over certain base year amounts. Lease payments for the three months ended March 31, 2014 and 2013 were $165,000 and $191,000, respectively. | ||||
During the three months ended March 31, 2014, the Company vacated its Pennsylvania office space in an effort to lower future rent expense. The Company currently leases this office space through August 30, 2017 and is marketing this office space for sublease. During the three months ended March 31, 2014, the Company recorded an impairment charge of $225,000, representing the estimated net present value of the Company’s contractual obligation over the remaining lease term, adjusted for estimated sublease payments and other associated costs. This impairment charge is recorded in General and Administrative expenses on the Company’s condensed consolidated statements of operations for the three months ended March 31, 2014. As of March 31, 2014, the Company has $203,000 recorded in accrued expenses relating to this impairment charge. | ||||
Future minimum rental commitments under all non-cancelable operating leases as of March 31, 2014, are as follows (in thousands): | ||||
Year Ending December 31, | ||||
Remaining 2014 | $ | 434 | ||
2015 | 349 | |||
2016 | 358 | |||
2017 | 317 | |||
2018 | 223 | |||
$ | 1,681 | |||
The future minimum lease commitments above do not include amounts for our California location, which the Company began to lease on a month to month basis starting in April 2014. The Company entered into short term leases totaling $115,000 for the New Jersey location in April 2014, which extended the term through August 31, 2014. The future minimum lease commitments include the $115,000 in 2014 for our New Jersey location. The future minimum lease commitments do not include any future lease commitments for the New Jersey location beyond August 31, 2014. We plan to lease office space in different locations in both California and New Jersey. | ||||
Commercial Commitments | ||||
We have entered into a number of agreements with telecommunications companies to purchase communications services. Some of the agreements require a minimum amount of services to be purchased over the life of the agreement, or during a specified period of time. | ||||
Glowpoint believes that it will meet its commercial commitments. Historically, in certain instances where Glowpoint did not meet the minimum commitments, no penalties for minimum commitments have been assessed and the Company has entered into new agreements. It has been our experience that the prices and terms of successor agreements are similar to those offered by other carriers. | ||||
Glowpoint does not believe that any loss contingency related to a potential shortfall should be recorded in the condensed consolidated financial statements because it is not probable, from the information available and from prior experience, that Glowpoint has incurred a liability. | ||||
Letters of Credit | ||||
As of March 31, 2014, the Company had an outstanding irrevocable standby letter of credit with Comerica Bank for $185,000 to serve as our security deposit for our lease of office space in Colorado. |
Major_Customers
Major Customers | 3 Months Ended |
Mar. 31, 2014 | |
Risks and Uncertainties [Abstract] | ' |
Major Customers | ' |
Major Customers | |
Major customers are those customers or wholesale partners that account for more than 10% of revenues. For the three months ended March 31, 2014, approximately 20% of revenues were derived from two major wholesale partners and the accounts receivable from these major partners represented approximately 30% of total accounts receivable as of March 31, 2014. For the three months ended March 31, 2013, approximately 22% of revenues were derived from two major wholesale partners. The loss of any one of these partners would have a material adverse affect on the Company’s financial results and operations. |
Related_Party_Transactions
Related Party Transactions | 3 Months Ended |
Mar. 31, 2014 | |
Related Party Transactions [Abstract] | ' |
Related Party Transactions | ' |
Related Party Transactions | |
The Company provides video collaboration services to ABM Industries, Inc. ("ABM"). James S. Lusk, who serves on the Board of Directors of the Company, is an officer of ABM. Revenue from ABM for the three months ended March 31, 2014 and 2013 was $33,000 and $37,000, respectively. As of March 31, 2014, the accounts receivable attributable to ABM was $11,000. | |
The Company received general corporate strategy and management consulting services under a Consulting Agreement entered into on September 1, 2010 from Jon A. DeLuca (the “Consulting Agreement”), who until April 4, 2014 served as a member of our Board of Directors. The Consulting Agreement was a month-to-month engagement pursuant to which the Company paid Mr. DeLuca $12,500 per month, plus any pre-authorized expenses incurred in providing services. Related party consulting fees pursuant to this agreement for the three months ended March 31, 2014 and 2013 were $37,500 and $37,500, respectively; and such fees have been recorded in General and Administrative expenses on the Company's condensed consolidated statements of operations. As of March 31, 2014, the accounts payable to Mr. DeLuca were $49,000 of which $11,250 related to Board of Director fees. The Consulting Agreement was terminated on April 4, 2014 in connection with Mr. DeLuca’s resignation as a director of the Company. | |
During 2013, the Company received financial advisory services from Burnham Hill Partners, LLC ("BHP") under certain engagement agreements. Jason Adelman, a principal of BHP, is a greater than 5% shareholder of the Company. In October 2013, the Company terminated all such engagement agreements with BHP. Financial advisory fees for BHP for the three months ended March 31, 2014 and 2013 were $0 and $36,000, respectively; and such fees have been recorded in General and Administrative expenses on the Company's condensed consolidated statements of operations. As of March 31, 2014, there were no remaining payment obligations to BHP. | |
Pursuant to a Sales Partner Agreement between Glowpoint and Nancy K. Holst, Ms. Holst was entitled to certain sales commissions. Ms. Holst is the wife of Peter Holst, the Company's President and CEO. The Company terminated the Sales Partner Agreement with Ms. Holst effective December 31, 2013. For the three months ended March 31, 2014 and 2013, she earned the sum of $0 and $6,000, respectively; and such fees have been recorded in Sales and Marketing expenses on the Company's condensed consolidated statements of operations. As of March 31, 2014, there were no remaining payment obligations to Ms. Holst. | |
As of March 31, 2014, GP Investment Holdings, LLC (“GPI”) owns 15,276,138 shares, or 43%, of the Company’s Common Stock. GPI is an investment vehicle affiliated with Main Street Capital Corporation, our debt lender, along with individual investors (see Note 5). | |
Transactions with related parties, including the transactions referred to above, are reviewed and approved by independent members of the Board of Directors of the Company. |
Summary_of_Significant_Account1
Summary of Significant Accounting Policies (Policies) | 3 Months Ended |
Mar. 31, 2014 | |
Accounting Policies [Abstract] | ' |
Principles of Consolidation | ' |
Principles of Consolidation | |
The condensed consolidated financial statements include the accounts of Glowpoint and our 100%-owned subsidiaries, Affinity VideoNet, Inc. ("Affinity") and GP Communications, LLC, whose business function is to provide interstate telecommunications services for regulatory purposes. All material inter-company balances and transactions have been eliminated in consolidation. | |
Use of Estimates | ' |
Use of Estimates | |
Preparation of the consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual amounts could differ from the estimates made. We continually evaluate estimates used in the preparation of the consolidated financial statements for reasonableness. Appropriate adjustments, if any, to the estimates used are made prospectively based upon such periodic evaluation. The significant areas of estimation include determining the allowance for doubtful accounts, deferred tax valuation allowance, accrued sales taxes, the valuation of goodwill, the valuation of intangible assets and their estimated lives, and the estimated lives and recoverability of property and equipment. | |
See "Summary of Significant Accounting Policies" in the Company's Audited 2013 Financial Statements for a discussion on the estimates and judgments necessary in the Company's accounting for financial instruments, concentration of credit risk, goodwill, intangible assets, property and equipment, income taxes, stock-based compensation, and accrued sales taxes and regulatory fees. | |
Accounting Standards Updates | ' |
Accounting Standards Updates | |
There have been no recent accounting pronouncements or changes in accounting pronouncements during the three months ended March 31, 2014, as compared to the recent accounting pronouncements described in the Company's Audited 2013 Financial Statements, that are of material significance, or have potential material significance to the Company. | |
Revenue Recognition | ' |
Revenue Recognition | |
Revenue billed in advance for video collaboration services is deferred until the revenue has been earned, which is when the related services have been performed. Other service revenue, including amounts passed through based on surcharges from our telecom carriers, related to the network services and collaboration services are recognized as service is provided. As the non-refundable, upfront installation and activation fees charged to the subscribers do not meet the criteria as a separate unit of accounting, they are deferred and recognized over the 12 to 24 month estimated life of the customer relationship. Revenue related to professional services is recognized at the time the services are performed. Revenues derived from other sources are recognized when services are provided or events occur. | |
Allowance for Doubtful Accounts | ' |
Allowance for Doubtful Accounts | |
We record an allowance for doubtful accounts based on specifically identified amounts that are believed to be uncollectible. We also record additional allowances based on our aged receivables, which are determined based on historical experience and an assessment of the general financial conditions affecting our customer base. If our actual collections experience changes, revisions to our allowance may be required. After all attempts to collect a receivable have failed, the receivable is written off against the allowance. We do not obtain collateral from our customers to secure accounts receivable. The allowance for doubtful accounts was $115,000 and $221,000 at March 31, 2014 and December 31, 2013, respectively. | |
Taxes Billed to Customers and Remitted to Taxing Authorities | ' |
Taxes Billed to Customers and Remitted to Taxing Authorities | |
We recognize taxes billed to customers in revenue and taxes remitted to taxing authorities in our cost of revenue. For the three months ended March 31, 2014, we included taxes of $326,000 in revenue, and we included taxes of $310,000 in cost of revenue. For the three months ended March 31, 2013, we included taxes of $328,000 in revenue, and we included taxes of $312,000 in cost of revenue. | |
Impairment of Long-Lived Assets and Intangible Assets | ' |
Impairment of Long-Lived Assets and Intangible Assets | |
We evaluate impairment losses on long-lived assets used in operations, primarily fixed assets and purchased intangible assets subject to amortization, when events and circumstances indicate that the carrying value of the assets might not be recoverable. For purposes of evaluating the recoverability of long-lived assets, the undiscounted cash flows estimated to be generated by those assets are compared to the carrying amounts of those assets. If and when the carrying values of the assets exceed their fair values, then the related assets will be written down to fair value. In the three months ended March 31, 2014, the Company recorded an impairment loss of $101,000 relating to idle property and equipment, primarily consisting of furniture and leasehold improvements, located in our Pennsylvania office. As discussed in Note 11, during the three months ended March 31, 2014, the Company vacated our Pennsylvania office and we are currently marketing such space for sublease. In the three months ended March 31, 2013, there was an impairment loss of $435,000 recorded for network equipment no longer being utilized in the Company's business. | |
Goodwill | ' |
Goodwill | |
Goodwill is not amortized but is subject to periodic testing for impairment. The test for impairment is conducted annually or more frequently if events occur or circumstances change indicating that the fair value of the goodwill may be below its carrying amount. The Company determined that no events occurred or circumstances changed during the three months ended March 31, 2014 that would indicate that the fair value of goodwill may be below its carrying amount. However, if market conditions deteriorate, or if the Company is unable to execute on its strategies, it may be necessary to record impairment charges in the future. | |
Capitalized Software Costs | ' |
Capitalized Software Costs | |
The Company capitalizes certain costs incurred in connection with developing or obtaining internal-use software. All software development costs have been appropriately accounted for as required by ASC Topic 350-40 “Intangible – Goodwill and Other – Internal-Use Software.” Capitalized software costs are included in “Property and Equipment” on our condensed consolidated balance sheets and are amortized over three to four years. Software costs that do not meet capitalization criteria are expensed as incurred. For the three months ended March 31, 2014, we capitalized internal use software costs of $428,000 and we amortized $163,000 of these costs. For the three months ended March 31, 2013, we capitalized internal use software costs of $52,000 and we amortized $138,000 of these costs. During the three months ended March 31, 2014 and 2013, no impairment losses were recorded. |
Accrued_Expenses_and_Other_Lia1
Accrued Expenses and Other Liabilities (Tables) | 3 Months Ended | |||||||
Mar. 31, 2014 | ||||||||
Other Liabilities Disclosure [Abstract] | ' | |||||||
Schedule of Accrued Expenses | ' | |||||||
Accrued expenses consisted of the following at March 31, 2014 and December 31, 2013 (in thousands): | ||||||||
March 31, 2014 | December 31, 2013 | |||||||
Accrued compensation | $ | 404 | $ | 755 | ||||
Accrued severance costs | 136 | 306 | ||||||
Accrued communication costs | 420 | 328 | ||||||
Accrued professional fees | 140 | 138 | ||||||
Accrued lease termination | 203 | — | ||||||
Other accrued expenses | 306 | 390 | ||||||
Deferred revenue | 137 | 197 | ||||||
Customer deposits | 436 | 163 | ||||||
Accrued expenses and other liabilities | $ | 2,182 | $ | 2,277 | ||||
Debt_Tables
Debt (Tables) | 3 Months Ended | ||||||
Mar. 31, 2014 | |||||||
Debt Disclosure [Abstract] | ' | ||||||
Schedule of Long-term Debt Instruments | ' | ||||||
Long-term debt consists of the following (in thousands): | |||||||
March 31, 2014 | December 31, 2013 | ||||||
SRS Note | $ | 1,885 | $ | 1,885 | |||
Main Street Term Loan | 9,000 | 9,000 | |||||
Main Street Revolver | 251 | 300 | |||||
11,136 | 11,185 | ||||||
Less current maturities | (901 | ) | (950 | ) | |||
Long-term debt, net of current portion | $ | 10,235 | $ | 10,235 | |||
Capital_Lease_Obligations_Tabl
Capital Lease Obligations (Tables) | 3 Months Ended | |||||||||||
Mar. 31, 2014 | ||||||||||||
Leases [Abstract] | ' | |||||||||||
Schedule of Future Minimum Commitments Under Non-cancelable Capital Leases | ' | |||||||||||
Future minimum commitments under all non-cancelable capital leases as of March 31, 2014, are as follows (in thousands): | ||||||||||||
Year Ended December 31, | Total | Interest | Principal | |||||||||
Remaining 2014 | 157 | 5 | 152 | |||||||||
2015 | 43 | 1 | 42 | |||||||||
2016 | 1 | — | 1 | |||||||||
$ | 201 | $ | 6 | $ | 195 | |||||||
Stock_Options_Tables
Stock Options (Tables) (Stock Options [Member]) | 3 Months Ended | ||||||||||||
Mar. 31, 2014 | |||||||||||||
Stock Options [Member] | ' | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ||||||||||||
Summary of options granted, exercised, expired and forfeited | ' | ||||||||||||
A summary of stock options granted, exercised, expired and forfeited under our stock incentive plans and stock options outstanding as of, and changes made during, the three months ended March 31, 2014, is presented below (shares in thousands): | |||||||||||||
Outstanding | Exercisable | ||||||||||||
Number of Shares Underlying Options | Weighted | Number of Shares Underlying Options | Weighted | ||||||||||
Average | Average | ||||||||||||
Exercise | Exercise | ||||||||||||
Price | Price | ||||||||||||
Options outstanding, December 31, 2013 | 1,792 | $ | 2.21 | 410 | $ | 2.71 | |||||||
Forfeited and canceled | (127 | ) | 2.96 | ||||||||||
Options outstanding, March 31, 2014 | 1,665 | $ | 2.15 | 673 | $ | 2.41 | |||||||
Weighted average grant date fair value of options | ' | ||||||||||||
The weighted average fair value of each option granted is estimated on the date of grant using the Black-Scholes option valuation model with the following weighted average assumptions during the three months ended March 31, 2013: | |||||||||||||
Risk free interest rate | 0.80% | ||||||||||||
Expected option lives | 5 years | ||||||||||||
Expected volatility | 104.00% | ||||||||||||
Estimated forfeiture rate | 10% | ||||||||||||
Expected dividend yields | — | ||||||||||||
Weighted average grant date fair value of options | $1.49 | ||||||||||||
Stock option compensation expense is allocated | ' | ||||||||||||
Stock option compensation expense is allocated as follows for the three months ended March 31, 2014 and 2013 (in thousands): | |||||||||||||
Three Months Ended | |||||||||||||
March 31, | |||||||||||||
2014 | 2013 | ||||||||||||
General and administrative | $ | 141 | $ | 210 | |||||||||
Restricted_Stock_Tables
Restricted Stock (Tables) (Restricted Stock [Member]) | 3 Months Ended | |||||||
Mar. 31, 2014 | ||||||||
Restricted Stock [Member] | ' | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | |||||||
Summary of restricted stock granted, vested, forfeited and unvested outstanding | ' | |||||||
A summary of restricted stock granted, vested, forfeited and unvested outstanding as of, and changes made during, the three months ended March 31, 2014, is presented below (shares in thousands): | ||||||||
Restricted Shares | Weighted Average | |||||||
Grant Price | ||||||||
Unvested restricted shares outstanding, December 31, 2013 | 465 | $ | 2.03 | |||||
Granted | 413 | 1.52 | ||||||
Vested | (36 | ) | 1.77 | |||||
Forfeited | (158 | ) | 2.37 | |||||
Unvested restricted shares outstanding, March 31, 2014 | 684 | $ | 1.65 | |||||
Schedule of share-based compensation, Restricted stock, Allocation of recognized period costs | ' | |||||||
Restricted stock compensation expense is allocated as follows for the three months ended March 31, 2014 and 2013 (in thousands): | ||||||||
Three Months Ended | ||||||||
March 31, | ||||||||
2014 | 2013 | |||||||
Cost of revenue | $ | 16 | $ | 5 | ||||
Research and development | 3 | 3 | ||||||
Sales and marketing | 2 | 15 | ||||||
General and administrative | 71 | 375 | ||||||
$ | 92 | $ | 398 | |||||
Earnings_Loss_Per_Share_Tables
Earnings (Loss) Per Share (Tables) | 3 Months Ended | |||||
Mar. 31, 2014 | ||||||
Earnings Per Share [Abstract] | ' | |||||
Schedule of Potentially Dilutive Shares of Common Stock | ' | |||||
Such potentially dilutive shares of Common Stock consist of the following (in thousands): | ||||||
Three Months Ended | ||||||
March 31, | ||||||
2014 | 2013 | |||||
Common Stock options | 1,665 | 1,996 | ||||
Unvested restricted stock | 684 | 891 | ||||
Warrants | — | 33 | ||||
Commitments_and_Contingencies_
Commitments and Contingencies (Tables) | 3 Months Ended | |||
Mar. 31, 2014 | ||||
Commitments and Contingencies Disclosure [Abstract] | ' | |||
Schedule of Future Minimum Rental Payments for Operating Leases | ' | |||
Future minimum rental commitments under all non-cancelable operating leases as of March 31, 2014, are as follows (in thousands): | ||||
Year Ending December 31, | ||||
Remaining 2014 | $ | 434 | ||
2015 | 349 | |||
2016 | 358 | |||
2017 | 317 | |||
2018 | 223 | |||
$ | 1,681 | |||
Basis_of_Presentation_and_Liqu1
Basis of Presentation and Liquidity (Details) (USD $) | 3 Months Ended | 3 Months Ended | 3 Months Ended | |||||
Mar. 31, 2014 | Mar. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Mar. 31, 2014 | Oct. 17, 2013 | Mar. 31, 2014 | Oct. 17, 2013 | |
segment | Senior secured term loan facility [Member] | Senior secured term loan facility [Member] | Senior secured revolving loan facility [Member] | Senior secured revolving loan facility [Member] | ||||
Organization, Presentation and Liquidity [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Number of operating segments | 1 | ' | ' | ' | ' | ' | ' | ' |
Cash | $2,186,000 | $2,166,000 | $2,294,000 | $2,218,000 | ' | ' | ' | ' |
Working capital | 726,000 | ' | ' | ' | ' | ' | ' | ' |
Restricted cash | 185,000 | ' | ' | ' | ' | ' | ' | ' |
Net loss | -834,000 | -1,985,000 | ' | ' | ' | ' | ' | ' |
Net cash provided by operating activities | 534,000 | 264,000 | ' | ' | ' | ' | ' | ' |
Revolving loan facility, maximum borrowing capacity | ' | ' | ' | ' | ' | 11,000,000 | ' | 2,000,000 |
Outstanding borrowings | ' | ' | ' | ' | 9,000,000 | ' | 251,000 | ' |
Revolving loan facility, unused borrowing capacity | ' | ' | ' | ' | $2,000,000 | ' | $1,749,000 | ' |
Summary_of_Significant_Account2
Summary of Significant Accounting Policies (Details) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2014 | Mar. 31, 2014 | Mar. 31, 2014 | Mar. 31, 2014 | Mar. 31, 2014 |
Idle Property and Equipment [Member] | Network Equipment [Member] | Capitalized Software Costs [Member] | Capitalized Software Costs [Member] | Revenues [Member] | Revenues [Member] | Network and Infrastructure Costs [Member] | Network and Infrastructure Costs [Member] | Minimum [Member] | Minimum [Member] | Maximum [Member] | Maximum [Member] | Affinity VideoNet, Inc. [Member] | |||
Capitalized Software Costs [Member] | Up-front Payment Arrangement [Member] | Capitalized Software Costs [Member] | Up-front Payment Arrangement [Member] | ||||||||||||
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Parent's ownership percentage in consolidated subsidiary | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100.00% |
Deferred revenue, estimated recognition period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '12 months | ' | '24 months | ' |
Allowance for doubtful accounts | $115,000 | $221,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Excise and sales taxes | ' | ' | ' | ' | ' | ' | 326,000 | 328,000 | 310,000 | 312,000 | ' | ' | ' | ' | ' |
Impairment of equipment | ' | ' | 101,000 | 435,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Estimated useful life | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '3 years | ' | '4 years | ' | ' |
Capitalized computer software, additions | ' | ' | ' | ' | 428,000 | 52,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Capitalized computer software, amortization | ' | ' | ' | ' | -163,000 | -138,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Asset impairment loss | ' | ' | ' | ' | $0 | $0 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Restricted_Cash_Details
Restricted Cash (Details) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||||
Restricted Cash and Cash Equivalents Items [Line Items] | ' | ' | ' | ' |
Cash | $2,186 | $2,294 | $2,166 | $2,218 |
Comerica Bank [Member] | Colorado [Member] | ' | ' | ' | ' |
Restricted Cash and Cash Equivalents Items [Line Items] | ' | ' | ' | ' |
Letters of credit outstanding, amount | $185 | $242 | ' | ' |
Accrued_Expenses_and_Other_Lia2
Accrued Expenses and Other Liabilities (Details) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Accrued Expenses, Current [Abstract] | ' | ' |
Accrued compensation | $404 | $755 |
Accrued severance costs | 136 | 306 |
Accrued communication costs | 420 | 328 |
Accrued professional fees | 140 | 138 |
Accrued lease termination | 203 | 0 |
Other accrued expenses | 306 | 390 |
Deferred revenue | 137 | 197 |
Customer deposits | 436 | 163 |
Accrued expenses and other liabilities | $2,182 | $2,277 |
Debt_Narrative_Details
Debt (Narrative) (Details) (USD $) | 3 Months Ended | 3 Months Ended | 3 Months Ended | ||||||||||||
Mar. 31, 2014 | Mar. 31, 2013 | Dec. 31, 2013 | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2014 | Mar. 31, 2014 | Mar. 31, 2014 | Mar. 31, 2014 | Mar. 31, 2014 | Oct. 17, 2013 | Mar. 31, 2014 | Mar. 31, 2014 | Oct. 17, 2013 | Mar. 31, 2014 | |
Promissory Note [Member] | Promissory Note [Member] | Principal payment terms, No. 1 [Member] | Principal payment terms, No. 1 [Member] | Principal payment terms, No. 2 [Member] | Principal payment terms, No. 2 [Member] | Term Loan [Member] | Term Loan [Member] | Term Loan [Member] | Revolving Credit Facility [Member] | Revolving Credit Facility [Member] | Revolving Credit Facility [Member] | ||||
Promissory Note with Stockholder Representative [Member] | Promissory Note with Stockholder Representative [Member] | Comerica Term Loan [Member] | Promissory Note [Member] | Comerica Term Loan [Member] | Promissory Note [Member] | Main Street Capital Corporation [Member] | Main Street Capital Corporation [Member] | ||||||||
Promissory Note with Stockholder Representative [Member] | Promissory Note with Stockholder Representative [Member] | ||||||||||||||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revolving loan facility, maximum borrowing capacity | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $11,000,000 | ' | ' | $2,000,000 | ' |
Net payments on revolving loan facility | ' | ' | ' | ' | ' | ' | ' | ' | ' | 9,000,000 | ' | ' | 251,000 | ' | ' |
Stated interest rate percentage | ' | ' | ' | 10.00% | ' | ' | ' | ' | ' | 12.00% | ' | ' | 8.00% | ' | ' |
Debt instrument, principal payment as percentage of excess cash flow | ' | ' | ' | ' | ' | 33.00% | ' | 50.00% | ' | ' | ' | ' | ' | ' | ' |
Credit facility, periodic principal payment | 49,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Face amount | ' | ' | ' | 1,885,000 | 1,885,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt instrument, periodic principal payment | ' | ' | ' | ' | ' | ' | 50,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Debt instrument, additional periodic payment, principal, earnings benchmark, measurement period | ' | ' | ' | ' | ' | ' | '3 months | ' | '6 months | ' | ' | ' | ' | ' | ' |
Debt instrument, additional periodic payment, principal, reduction to calculated payment | ' | ' | ' | ' | ' | ' | 1,500,000 | ' | 3,000,000 | ' | ' | ' | ' | ' | ' |
Debt instrument, additional periodic payment, principal, percent of earnings benchmark | ' | ' | ' | ' | ' | ' | ' | ' | 40.00% | ' | ' | ' | ' | ' | ' |
Current portion of long-term debt | 901,000 | ' | 950,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long-term Debt, Maturities, Repayments of Principal in Next Twelve Months | ' | ' | ' | 200,000 | ' | ' | ' | ' | ' | ' | ' | 450,000 | ' | ' | 251,000 |
Unamortized debt issuance expense | 341,000 | ' | 363,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amortization of financing costs | 22,000 | 61,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amortization of debt discount | $0 | $30,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt_Details
Debt (Details) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
Debt Instrument [Line Items] | ' | ' |
Long-term Debt | $11,136,000 | $11,185,000 |
Less current maturities | -901,000 | -950,000 |
Long-term debt, net of current portion | 10,235,000 | 10,235,000 |
Term Loan [Member] | Main Street Capital Corporation [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Line of Credit Facility, Amount Outstanding | 9,000,000 | 9,000,000 |
Revolving Credit Facility [Member] | Main Street Capital Corporation [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Line of Credit Facility, Amount Outstanding | 251,000 | 300,000 |
Promissory Note with Stockholder Representative [Member] | Promissory Note [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Notes Payable | $1,885,000 | $1,885,000 |
Capital_Lease_Obligations_Deta
Capital Lease Obligations (Details) (USD $) | 3 Months Ended | ||
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 | Dec. 31, 2013 |
Leases [Abstract] | ' | ' | ' |
Depreciation expense on the equipment under the capital leases | $40 | $40 | ' |
Total | ' | ' | ' |
Remainder of 2014, Total | 157 | ' | ' |
2015, Total | 43 | ' | ' |
2016, Total | 1 | ' | ' |
Capital Lease, Total | 201 | ' | ' |
Interest | ' | ' | ' |
Remainder of 2014, Interest | 5 | ' | ' |
2015, Interest | 1 | ' | ' |
2016, Interest | 0 | ' | ' |
Capital Lease Interest, Total | 6 | ' | ' |
Principal | ' | ' | ' |
Remainder of 2014, Principal | 152 | ' | ' |
2015, Principal | 42 | ' | ' |
2016, Principal | 1 | ' | ' |
Capital Lease Principal, Total | 195 | ' | ' |
Current portion of capital lease obligations | 170 | ' | 217 |
Long-term portion of capital lease obligations | $25 | ' | $43 |
Preferred_Stock_Details
Preferred Stock (Details) (USD $) | 3 Months Ended | |
In Thousands, except Share data, unless otherwise specified | Mar. 31, 2014 | Dec. 31, 2013 |
Class of Stock [Line Items] | ' | ' |
Preferred Stock authorized | 7,500 | 7,500 |
Preferred Stock issued | 53 | 53 |
Preferred Stock outstanding | 53 | 53 |
Preferred Stock stated value (per share) | $0.00 | $0.00 |
Accrued dividends | $25 | $20 |
Conversion price below fair value of common stock, per share | $1.16 | ' |
Preferred Stock [Member] | ' | ' |
Class of Stock [Line Items] | ' | ' |
Preferred Stock authorized | 5,000,000 | ' |
Series B-1 Preferred Stock [Member] | ' | ' |
Class of Stock [Line Items] | ' | ' |
Preferred Stock authorized | 100 | ' |
Preferred Stock issued | 0 | ' |
Preferred Stock outstanding | 0 | ' |
Series A-2 Preferred Stock [Member] | ' | ' |
Class of Stock [Line Items] | ' | ' |
Preferred Stock authorized | 7,500 | ' |
Preferred Stock issued | 53 | ' |
Preferred Stock outstanding | 53 | ' |
Preferred Stock stated value (per share) | $7,500 | ' |
Conversion of preferred stock, price per share | $3 | ' |
Convertible preferred stock, shares issued upon conversion | 2,500 | ' |
Preferred stock, cumulative dividend percentage rate (per annum) | 5.00% | ' |
Accrued dividends | $25 | ' |
Series D Preferred Stock [Member] | ' | ' |
Class of Stock [Line Items] | ' | ' |
Preferred Stock authorized | 4,000 | ' |
Preferred Stock issued | 0 | ' |
Preferred Stock outstanding | 0 | ' |
Stock_Options_Narrative_Detail
Stock Options (Narrative) (Details) (Stock Options [Member], USD $) | 3 Months Ended |
In Thousands, unless otherwise specified | Mar. 31, 2014 |
Stock Options [Member] | ' |
Employee Stock Ownership Plan (ESOP) Disclosures [Line Items] | ' |
Unrecognized stock-based compensation expense for stock options | $1,219 |
Unrecognized stock-based compensation expense, stock options, upon change in control, value | 61 |
Unrecognized stock-based compensation expense, stock options, upon change in control, shares | 30 |
Unrecognized stock-based compensation expense, stock options, amortized for weighted average period | $1,157 |
Weighted average period for amortization of unrecognized stock-based compensation, stock options | '1 year 3 months 25 days |
Stock_Options_Options_Outstand
Stock Options (Options Outstanding) (Details) (USD $) | 3 Months Ended |
In Thousands, except Per Share data, unless otherwise specified | Mar. 31, 2014 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward] | ' |
Outstanding Number of Options, Beginning | 1,792 |
Outstanding Number of Options, Forfeited | -127 |
Outstanding Number of Options, Ending | 1,665 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Roll Forward] | ' |
Outstanding Weighted Average Exercise Price, Beginning | $2.21 |
Outstanding Weighted Average Exercise Price, Forfeited | $2.96 |
Outstanding Weighted Average Exercise Price, Ending | $2.15 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable [Abstract] | ' |
Exercisable Number of Options, Beginning | 410 |
Exercisable Number of Options, Ending | 673 |
Exercisable Weighted Average Exercise Price, Beginning | $2.71 |
Exercisable Weighted Average Exercise Price, Ending | $2.41 |
Stock_Options_Fair_Value_of_Op
Stock Options (Fair Value of Options) (Details) (Stock Options [Member], USD $) | 3 Months Ended |
Mar. 31, 2013 | |
Stock Options [Member] | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Risk free interest rate | 0.80% |
Expected option lives | '5 years |
Expected volatility | 104.00% |
Estimated forfeiture rate | 10.00% |
Expected dividend yields | 0.00% |
Weighted average grant date fair value of options | $1.49 |
Stock_Options_Expense_Allocati
Stock Options (Expense Allocation) (Details) (Stock Options [Member], General and administrative [Member], USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Stock Options [Member] | General and administrative [Member] | ' | ' |
Stock option compensation expense | $141 | $210 |
Restricted_Stock_Narrative_Det
Restricted Stock (Narrative) (Details) (USD $) | 3 Months Ended | 3 Months Ended | |||||||||||||
In Thousands, unless otherwise specified | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2014 | Mar. 31, 2014 | Mar. 31, 2014 |
Restricted Stock [Member] | Restricted Stock [Member] | Cost of revenue [Member] | Cost of revenue [Member] | Research and development [Member] | Research and development [Member] | Sales and marketing [Member] | Sales and marketing [Member] | General and administrative [Member] | General and administrative [Member] | Shares Withheld and Repurchased [Member] | Additional Paid-in Capital [Member] | Additional Paid-in Capital [Member] | |||
Restricted Stock [Member] | Restricted Stock [Member] | Restricted Stock [Member] | Restricted Stock [Member] | Restricted Stock [Member] | Restricted Stock [Member] | Restricted Stock [Member] | Restricted Stock [Member] | Restricted Stock [Member] | Restricted Stock [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Vested, restricted shares | ' | ' | -36 | ' | ' | ' | ' | ' | ' | ' | ' | ' | -18 | ' | ' |
Minimum statutory tax withholding requirements | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $30 | ' | ' |
Issuance of restricted stock to settle accrued 2013 bonuses, Value | 204 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 204 | 204 |
Accrued bonuses | ' | 165 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Restricted stock compensation expense | ' | ' | 92 | 398 | 16 | 5 | 3 | 3 | 2 | 15 | 71 | 375 | ' | ' | ' |
Unrecognized stock-based compensation expense for restricted stock | ' | ' | 811 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Unrecognized stock-based compensation expense, restricted stock, upon change in control, value | ' | ' | 113 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Unrecognized stock-based compensation expense, restricted stock, upon change in control, shares | ' | ' | 45 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Unrecognized stock-based compensation expense, restricted stock, amortized for weighted average period | ' | ' | $698 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Weighted average period for amortization of unrecognized stock-based compensation, restricted stock | ' | ' | '3 years 10 months 28 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Restricted_Stock_Vested_Forfei
Restricted Stock (Vested, Forfeited and Outstanding) (Details) (Restricted Stock [Member], USD $) | 3 Months Ended |
In Thousands, except Per Share data, unless otherwise specified | Mar. 31, 2014 |
Restricted Stock [Member] | ' |
Restricted Stock, Number of Shares [Roll Forward] | ' |
Unvested restricted shares outstanding, beginning | 465 |
Granted, restricted shares | 413 |
Vested, restricted shares | -36 |
Forfeited, restricted shares | -158 |
Unvested restricted shares outstanding, ending | 684 |
Restricted Stock, Weighted Average Grant Price [Roll Forward] | ' |
Unvested restricted shares, weighted average grant price, beginning (in dollars per share) | $2.03 |
Granted, weighted average grant price (in dollars per share) | $1.52 |
Vested, weighted average grant price (in dollars per share) | $1.77 |
Forfeited, weighted average grant price (in dollars per share) | $2.37 |
Unvested restricted shares, weighted average grant price, ending (in dollars per share) | $1.65 |
Earnings_Loss_Per_Share_Detail
Earnings (Loss) Per Share (Details) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Common stock options [Member] | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' |
Antidilutive common shares excluded from computation of earnings per share | 1,665 | 1,996 |
Unvested restricted stock [Member] | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' |
Antidilutive common shares excluded from computation of earnings per share | 684 | 891 |
Warrant [Member] | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' |
Antidilutive common shares excluded from computation of earnings per share | 0 | 33 |
Commitments_and_Contingencies_1
Commitments and Contingencies (Details) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Long-term Purchase Commitment [Line Items] | ' | ' |
Operating lease payments | $165 | $191 |
Future minimum lease commitments | 1,681 | ' |
Pennsylvania [Member] | ' | ' |
Long-term Purchase Commitment [Line Items] | ' | ' |
Impairment of office lease | 225 | ' |
Accrued expense, impairment of office lease | 203 | ' |
New Jersey [Member] | ' | ' |
Long-term Purchase Commitment [Line Items] | ' | ' |
Future minimum lease commitments | $115 | ' |
Commitments_and_Contingencies_2
Commitments and Contingencies ( Operating Lease) (Details) (USD $) | Mar. 31, 2014 |
In Thousands, unless otherwise specified | |
Commitments and Contingencies Disclosure [Abstract] | ' |
Remaining 2014 | $434 |
2015 | 349 |
2016 | 358 |
2017 | 317 |
2018 | 223 |
Total | $1,681 |
Major_Customers_Details
Major Customers (Details) | 3 Months Ended | |
Mar. 31, 2014 | Mar. 31, 2013 | |
customer | customer | |
Accounts Receivable [Member] | ' | ' |
Concentration Risk [Line Items] | ' | ' |
Concentration risk percentage | 30.00% | ' |
Sales Revenue, Services, Net [Member] | ' | ' |
Concentration Risk [Line Items] | ' | ' |
Number of major wholesale partners | 2 | 2 |
Customer Concentration Risk [Member] | Sales Revenue, Services, Net [Member] | ' | ' |
Concentration Risk [Line Items] | ' | ' |
Concentration risk percentage | 20.00% | 22.00% |
Related_Party_Transactions_Det
Related Party Transactions (Details) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2014 | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2014 | Mar. 31, 2014 |
Director Affiliated Entity [Member] | Director Affiliated Entity [Member] | Director [Member] | Director [Member] | Director [Member] | Shareholder Affiliated Entity [Member] | Shareholder Affiliated Entity [Member] | Wife of President and CEO (Nancy K. Holst) [Member] | Wife of President and CEO (Nancy K. Holst) [Member] | GP Investment Holdings, LLC [Member] | GP Investment Holdings, LLC [Member] | |||
ABM Industries, Inc. (ABM) [Member] | ABM Industries, Inc. (ABM) [Member] | Board of Director Fees [Member] | Common Stock Ownership [Member] | ||||||||||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenue, related parties | ' | ' | $33,000 | $37,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accounts receivable, related parties, current | ' | ' | 11,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Related party transaction, amounts of transaction, monthly | ' | ' | ' | ' | 12,500 | ' | ' | ' | ' | ' | ' | ' | ' |
Related party transaction, amounts of transaction | ' | ' | ' | ' | 37,500 | 37,500 | ' | 0 | 36,000 | 0 | 6,000 | ' | ' |
Accounts payable, related parties | ' | ' | ' | ' | $49,000 | ' | $11,250 | ' | ' | ' | ' | ' | ' |
Number of common shares owned by investor | 35,579,000 | 35,306,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 15,276,138 | ' |
Concentration risk percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 43.00% |