Document and Entity Information
Document and Entity Information - shares | 9 Months Ended | |
Sep. 30, 2016 | Nov. 10, 2016 | |
Document And Entity Information | ||
Entity Registrant Name | URANIUM RESOURCES INC /DE/ | |
Entity Central Index Key | 839,470 | |
Document Type | 10-Q | |
Document Period End Date | Sep. 30, 2016 | |
Amendment Flag | false | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Smaller Reporting Company | |
Entity Common Stock, Shares Outstanding | 13,383,372 | |
Trading Symbol | URRE | |
Document Fiscal Period Focus | Q3 | |
Document Fiscal Year Focus | 2,016 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
Current Assets: | ||
Cash and cash equivalents | $ 3,826 | $ 865 |
Prepaid and other current assets | 621 | 1,140 |
Total Current Assets | 4,447 | 2,005 |
Property, plant and equipment, at cost: | ||
Property, plant and equipment | 113,924 | 114,496 |
Less accumulated depreciation, depletion and impairment | (65,831) | (65,684) |
Net property, plant and equipment | 48,093 | 48,812 |
Restricted cash | 3,968 | 4,026 |
Long-term assets held for sale | 2,123 | 2,123 |
Total Assets | 58,631 | 56,966 |
Current Liabilities: | ||
Accounts payable | 952 | 3,046 |
Accrued liabilities | 1,834 | 1,569 |
Convertible loan, net of discount – related party | 7,509 | 6,154 |
Current portion of asset retirement obligations | 121 | 121 |
Total Current Liabilities | 10,416 | 10,890 |
Asset retirement obligations, net of current portion | 4,548 | 4,242 |
Other long-term liabilities and deferred credits | 725 | 800 |
Long-term liabilities related to assets held for sale | 555 | 555 |
Total Liabilities | 16,244 | 16,487 |
Commitments and Contingencies | ||
Stockholders’ Equity: | ||
Common stock, 100,000,000 shares authorized, $.001 par value; Issued shares – 12,496,047 and 4,530,211, respectively Outstanding shares – 12,488,022 and 4,522,186, respectively | 12 | 5 |
Paid-in capital | 272,554 | 258,096 |
Accumulated other comprehensive income | (67) | |
Accumulated deficit | (229,921) | (217,297) |
Treasury stock (8,025 and 8,025 shares, respectively), at cost | (258) | (258) |
Total Stockholders’ Equity | 42,387 | 40,479 |
Total Liabilities and Stockholders’ Equity | $ 58,631 | $ 56,966 |
Condensed Consolidated Balance3
Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares | Sep. 30, 2016 | Dec. 31, 2015 |
Statement of Financial Position [Abstract] | ||
Common stock, shares authorized | 100,000,000 | 100,000,000 |
Common stock par value | $ .001 | $ .001 |
Common stock, shares issued | 12,496,047 | 4,530,211 |
Common stock, shares outstanding | 12,488,022 | 4,522,186 |
Treasury stock, shares | 8,025 | 8,025 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Operating Expenses: | ||||
Mineral property expenses | $ (1,039) | $ (920) | $ (2,908) | $ (3,021) |
General and administrative | (1,883) | (2,851) | (6,035) | (7,352) |
Accretion of asset retirement obligations | (120) | (112) | (360) | (337) |
Depreciation and amortization | (56) | (83) | (188) | (252) |
Impairment of uranium properties | (534) | |||
Total operating expenses | (3,098) | (3,966) | (10,025) | (10,962) |
Non-Operating Income/(Expenses): | ||||
Commitment fees | (333) | |||
Interest expense | (671) | (644) | (2,194) | (1,974) |
Loss on sale of available-for-sale securities | (116) | |||
Gain on disposal of uranium properties | 4,268 | 4,268 | ||
Other income/(expense), net | 25 | (1) | 44 | 12 |
Total non-operating income/(expense) | (646) | 3,623 | (2,599) | 2,306 |
Net Loss | (3,744) | (343) | (12,624) | (8,656) |
Other Comprehensive Loss | ||||
Unrealized fair value decrease on available-for-sale securities | (49) | |||
Transfer to realized loss upon sale of available-for-sale securities | (70) | 116 | (70) | |
Comprehensive Loss | $ (3,744) | $ (413) | $ (12,557) | $ (8,726) |
BASIC AND DILUTED LOSS PER SHARE | $ (0.38) | $ (0.14) | $ (1.81) | $ (3.61) |
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING | 9,741,331 | 2,500,835 | 6,963,869 | 2,399,911 |
Condensed Consolidated Stateme5
Condensed Consolidated Statements of Cash Flows and Supplemental Cash Flow Information (Unaudited) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2016 | Sep. 30, 2015 | |
Operating Activities: | ||
Net loss | $ (12,624) | $ (8,656) |
Reconciliation of net loss to cash used in operations: | ||
Accretion of asset retirement obligations | 360 | 337 |
Amortization of debt discount | 1,355 | 1,354 |
Amortization of convertible loan establishment fee | 75 | 75 |
Loss on sale of available-for-sale securities | 116 | |
Common stock issued as payment for commitment fees | 333 | |
Impairment of uranium properties | 534 | |
Costs incurred for restoration and reclamation activities | (54) | (129) |
Depreciation and amortization | 188 | 252 |
Stock based compensation expense | 545 | 794 |
Gain on disposal of uranium properties | (4,268) | |
Gain on disposal of property, plant and equipment | (18) | |
Effect of changes in operating working capital items: | ||
(Increase)/decrease in receivables | 47 | (1) |
(Increase)/decrease in prepaid and other current assets | 101 | (96) |
Increase/(decrease) in payables, accrued liabilities and deferred credits | (830) | 1,875 |
Net Cash Used In Operating Activities | (9,854) | (8,481) |
Cash Flows From Investing Activities: | ||
Proceeds from the sale of investments | 247 | |
Increase in notes receivable | (1,283) | |
Decrease in restricted cash | 57 | |
Purchases of equipment | (12) | |
Proceeds from disposal of property, plant and equipment | 2,518 | |
Net Cash Provided By Investing Activities | 304 | 1,223 |
Cash Flows From Financing Activities: | ||
Payments on borrowings | (4) | |
Issuance of common stock, net | 12,511 | 5,654 |
Payment of minimum withholding taxes on net share settlements of equity awards | (126) | |
Net Cash Provided By Financing Activities | 12,511 | 5,524 |
Net increase/(decrease) in cash and cash equivalents | 2,961 | (1,734) |
Cash and cash equivalents, beginning of period | 865 | 5,570 |
Cash and Cash Equivalents, End of Period | 3,826 | 3,836 |
Cash Paid During the Period For: | ||
Interest | 486 | |
Supplemental Non-Cash Information With Respect to Investing and Financing Activities: | ||
Common stock issued for settlement of accounts payable | 834 | |
Common stock issued for payment of convertible loan interest and fees | 242 | 541 |
Common stock issued for payment of commitment fees | $ 523 |
Condensed Consolidated Stateme6
Condensed Consolidated Statements of Stockholders' Equity (Unaudited) - 9 months ended Sep. 30, 2016 - USD ($) $ in Thousands | Common Stock [Member] | Paid-In Capital [Member] | Accumulated Other Comprehensive Loss [Member] | Accumulated Deficit [Member] | Treasury Stock [Member] | Total |
Balance at Dec. 31, 2015 | $ 5 | $ 258,096 | $ (67) | $ (217,297) | $ (258) | $ 40,479 |
Balance shares at Dec. 31, 2015 | 4,522,186 | |||||
Net loss | (12,624) | (12,624) | ||||
Common stock issued, net of issuance costs | $ 7 | 11,981 | 11,988 | |||
Common stock issued, net of issuance costs, shares | 7,390,061 | |||||
Common stock issued for loan interest | 242 | 242 | ||||
Common stock issued for loan interest, shares | 38,086 | |||||
Common stock issued for settlement of accounts payable | 834 | 834 | ||||
Common stock issued for settlement of accounts payable, shares | 214,991 | |||||
Common stock issued as payment for commitment fees | 856 | 856 | ||||
Common stock issued as payment for commitment fees, shares | 315,000 | |||||
Stock compensation expense and related share issuances | 545 | 545 | ||||
Stock compensation expense and related share issuances, shares | 7,698 | |||||
Reclassification of unrealized holding loss to realized holding loss | 67 | 67 | ||||
Balance at Sep. 30, 2016 | $ 12 | $ 272,554 | $ (229,921) | $ (258) | $ 42,387 | |
Balance shares at Sep. 30, 2016 | 12,488,022 |
Basis of Presentation
Basis of Presentation | 9 Months Ended |
Sep. 30, 2016 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Basis of Presentation | 1. BASIS OF PRESENTATION Basis of Presentation The accompanying unaudited condensed consolidated financial statements for Uranium Resources, Inc. (the Company, we, us, or URI) have been prepared in accordance with accounting principles generally accepted in the United States of America (U.S. GAAP) for interim financial information and with the instructions to Form 10-Q and Rule 8-03 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. The accompanying statements should be read in conjunction with the audited financial statements included in Uranium Resources, Inc.s 2015 Annual Report on Form 10-K. In the opinion of management, all adjustments (which are of a normal, recurring nature) considered necessary for a fair presentation have been included. Operating results for the three and nine months ended September 30, 2016 are not necessarily indicative of the results that may be expected for any other period including the full year ending December 31, 2016. Revision of Prior Period Financial Statements Prior to the issuance of the Companys Annual Report on Form 10-K for the period ended December 31, 2015, the Company identified an error in its previously reported financial statements that resulted in an adjustment of $0.6 million to the gain recorded upon the sale of the Companys Roca Honda project assets for the three and nine month periods ended September 30, 2015. Upon the sale of the Roca Honda assets, the Company did not include the carrying value of its West Endy project in its determination of the amount of the gain. The Company assessed the materiality of this error on the prior periods financial statements in accordance with the United States Securities and Exchange Commission (SEC) Staff Accounting Bulletin (SAB) No. 99, and concluded that the error was not material to the financial condition for the current and prior interim periods. Consequently, in accordance with ASC 250, the Company corrected this error for all prior periods presented by revising the consolidated financial statements and other financial information contained herein. The following table summarizes the effects of the revision on the consolidated statements of operations and balance sheets: As Filed As Revised Three months ended September 30, 2015 Nine months ended September 30, 2015 Revision Adjustments Three months ended September 30, 2015 Nine months ended September 30, 2015 Affected income statement items Gain on disposal of uranium properties $ 4,916 $ 4,916 $ (648) $ 4,268 $ 4,268 Net income/(loss) $ 305 $ (8,008) $ (648) $ (343) $ (8,656) Basic and diluted income/(loss) per share $ 0.12 $ (3.36) $ (0.26) $ (0.14) $ (3.61) Affected balance sheet items Property, plant and equipment $ - $ 34,622 $ (648) $ - $ 33,974 Total assets $ 44,802 $ (648) $ 44,154 The revision had no net impact on the Companys Statement of Cash Flows. Recently Issued Accounting Pronouncements In August 2014, the Financial Accounting Standards Board (the FASB) issued Accounting Standards Update No. 2014-15 (ASU 2014-15), Disclosure of Uncertainties about an Entity's Ability to Continue as a Going Concern, which provides guidance on determining when and how to disclose going-concern uncertainties in the financial statements. The new standard requires management to perform interim and annual assessments of an entity's ability to continue as a going concern within one year of the date the financial statements are issued. An entity must provide certain disclosures if conditions or events raise substantial doubt about the entity's ability to continue as a going concern. ASU 2014-15 applies to all entities and is effective for annual periods ending after December 15, 2016, and interim periods thereafter, with early adoption permitted. We do not expect to early adopt this guidance and do not believe that the adoption of this guidance will have a material impact on our financial statements or related disclosures. |
Liquidity and Going Concern
Liquidity and Going Concern | 9 Months Ended |
Sep. 30, 2016 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Liquidity and Going Concern | 2. LIQUIDITY AND GOING CONCERN The accompanying unaudited condensed consolidated financial statements of the Company have been prepared on a going concern basis, which means that the continuation of the Company is presumed even though events and conditions exist that, when considered in the aggregate, raise substantial doubt about the Companys ability to continue as a going concern because it is possible that the Company will be unable to meet its obligations as they become due within one year after the date that these financial statements were issued. Since the second half of 2015, the Company has faced liquidity challenges. The Company has encountered difficulties raising sufficient capital as a result of weak capital markets, particularly in the commodities sector. The Companys liquidity was further challenged following the completion of the acquisition of Anatolia Energy Limited (Anatolia Energy) on November 9, 2015, whereby the Company acquired all of the issued and outstanding common stock of Anatolia Energy (the Anatolia Transaction), as the Company incurred higher than expected transaction costs and assumed significant unpaid trade payables from Anatolia Energy. At September 30, 2016 the Companys cash balances were $3.8 million and the Company had a working capital deficit of $6.0 million, which deficit includes $7.5 million related to the RCF Loan (defined in Note 6, below) which matures on December 31, 2016. The ending cash balance of $3.8 million is expected to provide the Company with sufficient capital to fund its critical operations through December 31, 2016. The Companys ability to avoid default on RCF Loan will depend upon renegotiation of the loan terms or raising additional capital from other sources. The Company presently anticipates funding from the following sources: · Laramide Asset Sale On April 7, 2016, Laramide Resources Ltd. (Laramide Resources) and the Company entered into a Share Purchase Agreement (the Laramide SPA) for the sale of its wholly-owned subsidiary Hydro Resources Inc., which holds the Companys Churchrock and Crownpoint properties in New Mexico for $12.5 million. Under the terms of the Laramide SPA, the Company expects to receive an initial cash payment of $5.25 million upon closing. The closing is subject to certain conditions including completion of a financing by Laramide Resources on commercially reasonable terms and in such amount as is necessary to fund the $5.25 million cash payment. Closing is currently anticipated to occur by November 30, 2016. Either party may terminate the Laramide SPA if the closing has not occurred by November 30, 2016, which was extended under an amendment agreement from September 30, 2016. See note 5 for further discussion. · Common Stock Purchase Agreement with Aspire Capital On April 8, 2016, the Company entered into a Common Stock Purchase Agreement (CSPA) with Aspire Capital Fund, LLC (Aspire Capital) to place up to $12.0 million in the aggregate of its common stock over a term of 30 months following receipt of shareholder approval. The Companys shareholders approved the issuance of up to 5.0 million shares of common stock under the CSPA at its Annual General Meeting of Stockholders on June 7, 2016. As of November 10, 2016 the Company has approximately $6.3 million of common stock and 744,650 shares available for future sales. The Company would need to seek stockholder approval before issuing shares in excess of such 744,650 shares. The Companys ability to continue to fund its ongoing operations and continue as a going concern is dependent upon the sources of capital above and the renegotiation or refinancing of the RCF Loan. While the Company initially expected that the Laramide SPA would close by September 30, 2016, Laramide Resources has experienced delays in obtaining the necessary funding to close the transaction and, as a result, the Company and Laramide Resources agreed to extend the closing date to November 30, 2016. Based on continued discussions with Laramide Resources and the payment of the $250,000 extension fee, the Company believes that the funding will be in place to close by November 30, 2016. In addition, factors such as the Companys market capitalization, current share price, volatility of trading volume and potential to fall below the reference price under the CSPA ($0.50 per share) may make it difficult for the Company to fully utilize the $6.3 million available under the CSPA. Therefore, the Company may need to raise additional capital from other sources. The Company is currently evaluating its options with respect to the RCF Loan and continues to explore opportunities to further monetize its non-core assets and identify ways to reduce its cash expenditures. The Company has been successful at raising capital in the past, most recently with the completion of registered direct offerings on April 4, 2016 and February 4, 2016 for gross proceeds of $1.25 million and $0.8 million, respectively, and two registered direct offerings during 2015 which occurred on December 18, 2015 and March 6, 2015 for aggregate net proceeds of $6.1 million. In addition, the Company was able to successfully raise capital in 2013 and 2014 through debt and equity fundraising efforts. Specifically, the Company completed a registered direct offering in February 2014 for net proceeds of $9.3 million and procured the RCF Loan in November 2013 that provided the Company with $8.0 million in cash, which debt matures on December 31, 2016. While the Company has been successful in the past raising funds through equity and debt financings as well as through the sale of non-core assets, no assurance can be given that additional financing will be available to it in amounts sufficient to meet the Companys needs, including upon the maturity of our outstanding debt, or on terms acceptable to the Company. In the event funds are not available, the Company may be required to materially change its business plans and it could default under the RCF Loan. |
Property, Plant and Equipment
Property, Plant and Equipment | 9 Months Ended |
Sep. 30, 2016 | |
Property, Plant and Equipment Assets Held-for-sale Disclosure [Abstract] | |
Property, Plant and Equipment | 3. PROPERTY, PLANT AND EQUIPMENT Net Book Value of Property, Plant and Equipment at September 30, 2016 (thousands of dollars) Turkey Texas New Mexico Corporate Total Uranium plant $ - $ 8,621 $ - $ - $ 8,621 Mineral rights and properties 17,968 979 19,102 - 38,049 Other property, plant and equipment 22 1,257 - 144 1,423 Total $ 17,990 $ 10,857 $ 19,102 $ 144 $ 48,093 Net Book Value of Property, Plant and Equipment at December 31, 2015 (thousands of dollars) Turkey Texas New Mexico Corporate Total Uranium plant $ - $ 8,653 $ - $ - $ 8,653 Mineral rights and properties 17,968 1,513 19,102 - 38,583 Other property, plant and equipment 22 1,352 - 202 1,576 Total $ 17,990 $ 11,518 $ 19,102 $ 202 $ 48,812 During the nine-month period ended September 30, 2016, the Company recorded an impairment charge of $0.5 million on its Sejita Dome project which was the result of URIs Board of Directors and management determining that recent exploration results indicated that the project should be terminated. As a result, the carrying value of the Sejita Dome project was written down to nil. |
Mineral Property Expenditures
Mineral Property Expenditures | 9 Months Ended |
Sep. 30, 2016 | |
Mineral Property Expenditures | |
Mineral Property Expenditures | 4. MINERAL PROPERTY EXPENDITURES Mineral property expenditures by jurisdiction for the three and nine months ended September 30, 2016 and 2015 For the Three Months Ended September 30, For the Nine Months Ended September 30, 2016 2015 2016 2015 (thousands of dollars) Temrezli project, Turkey $ 31 $ - $ 453 $ - Total Turkey projects 31 - 453 - Kingsville Dome project, Texas 214 200 624 589 Rosita project, Texas 130 306 290 548 Vasquez project, Texas 105 111 365 409 Butler Ranch project, Texas 9 179 19 250 Other projects, Texas 2 55 61 535 Total Texas projects 460 851 1,359 2,331 Cebolleta project, New Mexico - - 537 537 Juan Tafoya project, New Mexico 37 37 48 46 Other projects, New Mexico 32 32 32 107 Total New Mexico projects 69 69 617 690 Columbus Basin project, Nevada 113 - 113 - Other projects, Nevada 14 - 14 - Total Nevada projects 127 - 127 - Sal Rica project, Utah 352 - 352 - Total Utah projects 352 - 352 - Total expense for the period $ 1,039 $ 920 $ 2,908 $ 3,021 On August 23, 2016, the Company staked approximately 4,600 acres of placer mining claims covering a prospective target for lithium-enriched brines in the Columbus Salt Marsh area of west-central Nevada. The target area, known as the Nina project, is situated within a region of known lithium mineralization and is located approximately 45 miles west of Tonopah, Nevada. On September 21, 2016, the Company entered into a Sale and Purchase Agreement (the Mesa SPA) with Mesa Exploration Corp. (Mesa) to acquire certain placer mining claims comprising the Sal Rica project. The Sal Rica project is comprised of approximately 9,800 acres of placer mining claims covering a prospective target for lithium-enriched brines. The target area is situated within a region of known brine-hosted lithium mineralization and is approximately 25 miles north of the town of Wendover, Utah. Under the terms of the Mesa SPA, the Company acquired a 100% interest in the Sal Rica project, subject to a 2% net smelter return royalty (NSR Royalty), for the following consideration: (i) $50,000 cash paid to Mesa at closing; (ii) 100,000 unregistered shares of the Companys common stock at closing, with a registration statement to be filed with the SEC within 28 days of issue; and (iii) 100,000 unregistered shares of the Companys common stock on the first anniversary date of closing, with a registration statement to be filed with the SEC within 28 days of issue. The closing of the transaction occurred on October 19, 2016, at which time the Company issued 100,000 unregistered shares of common stock and paid $50,000 to Mesa. As of September 30, 2016 the Company recorded exploration expense of $0.3 million related to the Mesa SPA, which includes the $50,000 paid to Mesa on October 19, 2016 and $279,000 of expense related to the fair value of the shares to be issued to Mesa. |
Assets Held for Sale
Assets Held for Sale | 9 Months Ended |
Sep. 30, 2016 | |
Assets Held For Sale | |
Assets Held for Sale | 5. ASSETS HELD FOR SALE On April 7, 2016, the Company entered into the Laramide SPA with Laramide Resources for the sale of its wholly-owned subsidiary Hydro Resources, Inc., which holds the Companys Churchrock and Crownpoint projects. Under the terms of the Laramide SPA, the Company is set to transfer ownership of the Churchrock and Crownpoint projects in exchange for the following consideration from Laramide Resources at closing: · $5.25 million in cash; and · $7.25 million promissory note, secured by a deed of trust or mortgage over the projects. The note will have a three-year term and carry an initial interest rate of 5% which then increases to 10% upon Laramide Resources decision regarding commercial production at the Churchrock project. Principal payments of approximately $2.4 million are due and payable on the anniversary of the closing of the transaction in each of 2017, 2018 and 2019. Interest will be payable on a quarterly basis, provided however that no interest will be payable prior to the first principal payment in 2017. The closing under the Laramide SPA is subject to various conditions, including, without limitation, completion of a financing by Laramide Resources on commercially reasonable terms and in such amount as is necessary to fund the $5.25 million purchase price and certain customary and required consents and releases of and by third parties, including RCF. The United States Nuclear Regulatory Commission has approved the transfer of the Companys license to Laramide Resources, effective at closing. Either party could originally terminate the Laramide SPA if the closing thereunder had not occurred on or before September 30, 2016. On October 2, 2016, the Company and Laramide Resources agreed to extend the Laramide SPA until November 30, 2016 in exchange for an extension payment of $250,000 which was paid to the Company on October 21, 2016. Other than an extension of the date by which either party could terminate the Laramide SPA from September 30, 2016 to November 30, 2016, no further changes were made to the Laramide SPA. The $250,000 extension payment is non-refundable and will be treated as a pre-payment of the purchase price upon closing of the transaction. As a result, the assets and liabilities associated with the Churchrock and Crownpoint projects have been classified as held for sale as of September 30, 2016 and December 31, 2015. The Company recently acquired a portion of the Churchrock project from Energy Fuels Inc., and recorded the assets at a fair value of $2.1 million. |
Convertible Loan, Related Party
Convertible Loan, Related Party | 9 Months Ended |
Sep. 30, 2016 | |
Debt Disclosure [Abstract] | |
Convertible Loan, Related Party | 6. CONVERTIBLE LOAN, RELATED PARTY On November 13, 2013, the Company entered into a loan agreement (the RCF Loan) with Resource Capital Fund V L.P. (RCF), whereby RCF agreed, subject to the terms and conditions set forth in the RCF Loan, to provide a secured convertible loan facility of up to $15.0 million to the Company, which was subsequently amended on April 29, 2014 to reduce the amount available thereunder from $15.0 million to $8.0 million, all of which has been drawn. No additional amounts may be drawn under the RCF Loan. Amounts drawn under the RCF Loan mature on December 31, 2016 and bear interest at 10% per annum, payable quarterly in arrears in shares of the Companys common stock or, at RCFs election, in cash. The number of shares to be issued as payment for interest is determined based upon the volume weighted-average price (VWAP) of the Companys common stock for the 20 trading days preceding the last day of each quarter. Accordingly, the Company issued 38,086 shares of common stock on January 4, 2016 for settlement of interest expense of $0.2 million related to the three-month period ended December 31, 2015. RCF elected to receive cash in lieu of shares for the March 31, 2016 and the June 30, 2016 interest payments. On June 10, 2016, the Company paid $0.3 million to RCF which included $0.2 million in interest owing from March 31, 2016 and a $0.1 million interest penalty on the late payment. On July 10, 2016, the Company paid $0.2 million to RCF in interest owing from June 30, 2016. As of September 30, 2016, interest expense of $0.2 million relating to the three-month period ended September 30, 2016 was included in accrued liabilities on the Companys Condensed Consolidated Balance Sheets. The Company subsequently paid this interest in cash on October 11, 2016. The following table represents the key components of the RCF Loan: September 30, December 31, 2016 2015 (thousands of dollars) Debt principal $ 8,000 $ 8,000 Unamortized discount (491) (1,846) Carrying value of convertible loan, end of period $ 7,509 $ 6,154 For the three- and nine-month periods ended September 30, 2016, the Company recorded amortization of the debt discount and establishment fee of $0.5 million and $1.4 million, respectively, which has been included in interest expense in the Companys Condensed Consolidated Statements of Operations. RCF may convert amounts drawn under the RCF Loan into shares of the Companys common stock at any time prior to maturity on December 31, 2016. The conversion price is set at $31.20 per share. As of November 10, 2016, RCF owned 718,137 shares or 5.4% of the Companys outstanding common stock. If RCF were to convert the entire $8.0 million outstanding under the RCF Loan, RCF would receive 256,410 shares of the Companys common stock, and RCFs ownership percentage in the Company would increase to 7.14%. |
Asset Retirement Obligations
Asset Retirement Obligations | 9 Months Ended |
Sep. 30, 2016 | |
Asset Retirement Obligation Disclosure [Abstract] | |
Asset Retirement Obligations | 7. ASSET RETIREMENT OBLIGATIONS The following table summarizes the changes in the reserve for future restoration and reclamation costs on the balance sheet: September 30, December 31, 2016 2015 (thousands of dollars) Balance, beginning of period $ 4,468 $ 4,196 Liabilities settled (54) (178) Accretion expense 360 450 Balance, end of period 4,774 4,468 Less: Current portion (121) (121) Less: Liabilities held for sale (105) (105) Non-current portion $ 4,548 $ 4,242 The Company is currently performing surface reclamation activities at its Rosita project located in Duval County, Texas. The Companys current liability of $0.1 million consists of the estimated costs associated with current and planned surface reclamation activities through September 2017 at the Companys Rosita project. |
Common Stock
Common Stock | 9 Months Ended |
Sep. 30, 2016 | |
Equity [Abstract] | |
Common Stock | 8. COMMON STOCK Common Stock Issued, Net of Issuance Costs Reverse Stock Split Immediately following the close of trading on March 7, 2016, the Company effected a one-for-twelve reverse stock split of its common stock. With the reverse stock split, every twelve shares of the Companys issued and outstanding common stock were combined into one issued and outstanding share of common stock. The reverse stock split reduced the number of shares outstanding from approximately 61.8 million shares to approximately 5.2 million shares. In addition, effective upon the reverse stock split, the number of authorized shares of the Companys common stock was reduced from 200 million to 100 million. The reverse stock split did not have any effect on the par value of the Companys common stock. No fractional shares were issued as a result of the reverse stock split. Any fractional shares that would have resulted were settled in cash. All share data herein has been retroactively adjusted for the reverse stock split. Registered Direct Offerings On February 3, 2016, URI and Aspire Capital entered into a stock purchase agreement whereby URI sold 296,666 shares of its common stock in a registered direct offering for gross and net proceeds of $0.8 million. There were no underwriting discounts or placement agent fees. On April 4, 2016, URI and Aspire Capital completed a registered direct offering whereby URI sold 375,000 shares of its common stock at a price of $2.17 per share and 200,000 pre-funded common stock purchase warrants at a price of $2.16 per warrant, which was paid at closing. Gross proceeds from the offering were $1.2 million, including $0.4 million from the sale of the pre-funded warrants. The warrants had an exercise price of $0.01 per share and a term of three years. On June 3, 2016, Aspire Capital exercised all outstanding common stock purchase warrants and the Company issued 200,000 shares of common stock to Aspire Capital as a result. Common Stock Purchase Agreement with Aspire Capital On April 8, 2016, the Company entered into the CSPA with Aspire Capital to place up to $12.0 million in the aggregate of the Companys common stock on an ongoing basis when required by the Company over a term of 30 months. The Company will control the timing and amount of sales to Aspire Capital, and at a price based on market prices at that time. As consideration for Aspire Capital entering into the purchase agreement, the Company issued 240,000 shares of its common stock to Aspire Capital upon the Companys receipt of stockholder approval at its Annual General Meeting of Stockholders which was held on June 7, 2016. Following effectiveness of an S-1 registration statement relating to the resale of the shares subject to the CSPA on June 3, 2016 and receipt of stockholder approval for the issuance of up to 5.0 million shares of its common stock on June 7, 2016, the Company began selling shares of its common stock to Aspire Capital under the terms of the CSPA. During the nine months ended September 30, 2016, the Company sold 3,220,000 shares of common stock for net proceeds of $4.7 million under the CSPA. Subsequent to September 30, 2016, the Company sold 795,350 shares of common stock for net proceeds of approximately $1.0 million under the CSPA. As of November 10, 2016, approximately $6.3 million of the aggregate $12.0 million and 744,650 shares remained available for future sales under the CSPA. The Company would need to seek stockholder approval before issuing shares in excess of such 744,650 shares. Option Agreement On February 3, 2016, the Company issued 75,000 shares of common stock, with a fair value on the date of issuance of $0.3 million, to Aspire Capital as consideration for Aspire Capital entering into an option agreement (the Option Agreement) by which Aspire Capital granted the Company the right at any time or times prior to April 30, 2017 to require Aspire Capital to enter into up to two common stock purchase agreements, each having a term of up to 24 months and collectively requiring Aspire Capital to purchase up to $10 million in the aggregate of our common stock at such times and in such amounts as elected by the Company under the terms of the option agreement. The parties terminated the Option Agreement upon entering into the CSPA. At-the-Market Sales On October 31, 2011, the Company entered into an At-The-Market Sales Agreement with BTIG LLC (the ATM Sales Agreement), a global securities trading firm that acts as our sales agent. Under the ATM Sales Agreement, the Company may from time to time sell shares of its common stock having an aggregate offering amount up to $15.0 million in at-the-market offerings, which shares are registered under the Companys currently effective registration statement on Form S-3. The Company filed a prospectus supplement dated November 17, 2015 with the Securities and Exchange Commission in connection with the offering, relating to shares of its common stock having an aggregate offering price of up to $6.0 million. The Company pays BTIG a commission equal to 3.0% of the gross proceeds from the sale of any shares pursuant to the ATM Sales Agreement. During the nine months ended September 30, 2016 the Company sold 3,298,396 shares of common stock for net proceeds of $5.8 million under the ATM Sales Agreement. As of September 30, 2016, the Company had fully utilized its ATM Sales Agreement and, as a result, no capacity remained available for future sales. Common Stock Issued for Loan Interest and Fees As discussed in Note 6 above, unless RCF elects to receive cash, RCF receives common shares of the Company for the payment of interest owing on the RCF Loan. For the nine months ended September 30, 2016, the Company issued 38,086 shares of common stock for the payment of $0.2 million in accrued interest and fees for the three-month period ended December 31, 2015. Common Stock Issued for Anatolia Energy transaction fees On January 8, 2016, the Company issued 117,097 shares of common stock with a fair market value per share of $6.00 in satisfaction of $0.7 million in required termination payments related to the Anatolia Transaction. On June 30, 2016, the Company issued 47,229 shares of common stock with a fair market value per share of $1.60 in satisfaction of $0.1 million in fees related to the Anatolia Transaction. On August 1, 2016, the Company issued 50,665 shares of common stock with a fair market value per share of $1.42 in satisfaction of $0.1 million in required termination payments related to the Anatolia Transaction. |
Stock-Based Compensation
Stock-Based Compensation | 9 Months Ended |
Sep. 30, 2016 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Stock-Based Compensation | 9. STOCK-BASED COMPENSATION Stock-based compensation awards consist of stock options, restricted stock units (RSUs) and restricted stock awards (RSAs) issued under the Companys equity incentive plans which include: the 2013 Omnibus Incentive Plan (the 2013 Plan); the 2007 Restricted Stock Plan (the 2007 Plan); the Amended and Restated 2004 Directors Stock Option and Restricted Stock Plan (the 2004 Directors Plan); and the 2004 Stock Incentive Plan (the 2004 Plan). Upon approval of the 2013 Plan by the Companys stockholders on June 4, 2013, the Companys authority to grant new awards under all plans other than the 2013 Plan was terminated. As of September 30, 2016, 49,569 shares were available for future issuances under the 2013 Plan. For the three months ending September 30, 2016 and 2015, the Company recorded stock-based compensation expense of $0.1 million and $0.3 million, respectively. For the nine months ending September 30, 2016 and 2015, the Company recorded stock-based compensation of $0.5 million and $0.8 million respectively. Stock-based compensation is included in general and administrative expense. In addition to the plans above, upon completion of the Anatolia Transaction, the Company issued 374,749 replacement options and performance shares to the option holders and performance shareholders of Anatolia Energy. The number of replacement options and performance shares was based upon the Black-Scholes value with the exercise prices of the replacement options and performance shares determined using the exchange rate of 0.00548. The options and performance shares were issued with the same terms and conditions as were applicable prior to the Anatolia Transaction. During the nine months ended September 30, 2016 all of the performance shares expired without the performance condition being satisfied. Also, on September 30, 2016, 209,872 replacement stock options with an exercise price of $16.68 per share and a grant date fair value of $1.71 per share expired without being exercised. Bonus Shares The Company did not award any bonus shares during the nine-month period ending September 30, 2016. In March 2015, in accordance with the Companys short-term incentive plan, the Company awarded its executives bonuses that were paid out in common stock of the Company. The bonus shares vested immediately and had a fair value of $0.3 million which was determined using the closing share price of the Companys common stock on the date of grant. Stock Options The following table summarizes stock options outstanding and changes for the nine-month periods ending September 30, 2016 and 2015: September 30, September 30, 2016 2015 Number of Stock Options Weighted Average Exercise Price Number of Stock Options Weighted Average Exercise Price Stock options outstanding at beginning of period 326,424 $ 24.90 13,396 $ 303.36 Expired (215,346) 27.64 (208) 394.80 Stock options outstanding at end of period 111,078 $ 19.60 13,188 $ 300.72 Stock options exercisable at end of period 110,869 $ 19.57 11,139 $ 349.56 The following table summarizes stock options outstanding and exercisable by stock option plan at September 30, 2016: Outstanding Stock Options Exercisable Stock Options Stock Option Plan Number of Outstanding Stock Options Weighted Average Exercise Price Number of Exercisable Stock Options Weighted Average Exercise Price 2004 Plan 5,042 $ 64.28 5,042 $ 64.28 2004 Directors Plan 1,390 629.52 1,390 629.52 2013 Plan 417 35.88 208 35.88 Replacement Stock Options 104,229 9.24 104,229 9.33 111,078 19.60 110,869 19.57 Restricted Stock Units Time-based and performance-based RSUs are valued using the closing share price of the Companys common stock on the date of grant. The final number of shares issued under performance-based RSUs is generally based on the Companys prior year performance as determined by the Compensation Committee of the Board of Directors at each vesting date, and the valuation of such awards assumes full satisfaction of all performance criteria. The following table summarizes RSU activity for the nine-month periods ended September 30, 2016 and 2015: September 30, September 30, 2016 2015 Number of RSUs Weighted-Average Grant Date Fair Value Number of RSUs Weighted-Average Grant Date Fair Value Unvested RSUs at beginning of period 32,699 $ 34.25 45,401 $ 34.08 Granted - - - - Forfeited (3,334) 32.21 (1,667) 32.16 Vested (7,698) 29.45 (11,032) 34.08 Unvested RSUs at end of period 21,667 $ 36.27 32,702 $ 34.20 Total estimated unrecognized compensation cost from unvested RSUs as of September 30, 2016 was approximately $0.3 million, which is expected to be recognized over a weighted-average period of 0.65 years. Restricted Stock Awards Time-based and performance-based RSAs are valued using the closing share price of the Companys common stock on the date of grant. Vesting based on performance criteria is generally based on the Companys prior year performance as determined by the Compensation Committee of the Board of Directors at each vesting date, and the valuation of such grants assumes full satisfaction of all performance criteria. Employee participants who receive restricted stock awards have all of the rights of a shareholder, including the right to vote shares of restricted stock that are the subject of the grant and the right to receive any regular cash dividends paid out of current earnings. The following table summarizes RSA activity for the nine-month periods ended September 30, 2016 and 2015: September 30, September 30, 2016 2015 Number of RSAs Weighted-Average Grant Date Fair Value Number of RSAs Weighted-Average Grant Date Fair Value Unvested RSAs at beginning of period 1,366 $ 40.01 2,223 $ 62.52 Granted - - - - Forfeited (104) 80.40 (104) 80.40 Vested (336) 47.51 (752) 101.04 Unvested RSAs at end of period 926 $ 32.76 1,367 $ 40.08 |
Earnings Per Share
Earnings Per Share | 9 Months Ended |
Sep. 30, 2016 | |
Earnings Per Share [Abstract] | |
Earnings Per Share | 10. EARNINGS PER SHARE Basic and diluted loss per common share have been calculated based on the weighted-average shares outstanding during the period. Potentially dilutive shares of 839,227 were excluded from the calculation of earnings per share because the effect on the basic loss per share would be anti-dilutive due to our net loss position for the three and nine months ended September 30, 2016. |
Commitments and Contingencies
Commitments and Contingencies | 9 Months Ended |
Sep. 30, 2016 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | 11. COMMITMENTS AND CONTINGENCIES The Companys uranium recovery operations are subject to federal and state regulations for the protection of the environment, including water quality. These laws frequently change and generally become more restrictive. The Company reviews its reclamation obligations each year and determines the appropriate unit charge. The Company also evaluates the status of current environmental laws and their potential impact on the Companys accrual for costs. The Company believes its operations are in substantial compliance with current federal and state environmental regulations. As discussed in Part II. Item 1. Legal Proceedings, below, the Company and a former contractor agreed to settle a complaint filed against the Company whereby the former contractor alleged that the Company breached a compensation agreement between the Company and the contractor. The Company and the former contractor agreed to a settlement amount equal to $90,000 in three installments: $10,000 to be paid within five business days of executing a settlement agreement; $40,000 to be paid on or before June 30, 2016; and the remaining $40,000 to be paid on or before September 30, 2016. As of September 30, 2016, the Company had made all required payments under the settlement agreement. |
Geographic and Segment Informat
Geographic and Segment Information | 9 Months Ended |
Sep. 30, 2016 | |
Segment Reporting [Abstract] | |
Geographic and Segment Information | 12. GEOGRAPHIC AND SEGMENT INFORMATION The Company has one reportable operating segment, consisting of uranium and lithium exploration and development activities. These activities are focused principally in the United States and the Republic of Turkey. We reported no revenues during the three- and nine-month periods ended September 30, 2016 and 2015. Geographic location of property, plant and equipment, including mineral rights, and mineral property expenses, is provided in Notes 3 and 4, above. |
Basis of Presentation (Tables)
Basis of Presentation (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Summarizes the Effects of Revision On Consolidated Statements of Operations and Balance Sheets | The following table summarizes the effects of the revision on the consolidated statements of operations and balance sheets: As Filed As Revised Three months ended September 30, 2015 Nine months ended September 30, 2015 Revision Adjustments Three months ended September 30, 2015 Nine months ended September 30, 2015 Affected income statement items Gain on disposal of uranium properties $ 4,916 $ 4,916 $ (648) $ 4,268 $ 4,268 Net income/(loss) $ 305 $ (8,008) $ (648) $ (343) $ (8,656) Basic and diluted income/(loss) per share $ 0.12 $ (3.36) $ (0.26) $ (0.14) $ (3.61) Affected balance sheet items Property, plant and equipment $ - $ 34,622 $ (648) $ - $ 33,974 Total assets $ 44,802 $ (648) $ 44,154 |
Property, Plant and Equipment (
Property, Plant and Equipment (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Property, Plant and Equipment Assets Held-for-sale Disclosure [Abstract] | |
Schedule of Property, Plant and Equipment | Net Book Value of Property, Plant and Equipment at September 30, 2016 (thousands of dollars) Turkey Texas New Mexico Corporate Total Uranium plant $ - $ 8,621 $ - $ - $ 8,621 Mineral rights and properties 17,968 979 19,102 - 38,049 Other property, plant and equipment 22 1,257 - 144 1,423 Total $ 17,990 $ 10,857 $ 19,102 $ 144 $ 48,093 Net Book Value of Property, Plant and Equipment at December 31, 2015 (thousands of dollars) Turkey Texas New Mexico Corporate Total Uranium plant $ - $ 8,653 $ - $ - $ 8,653 Mineral rights and properties 17,968 1,513 19,102 - 38,583 Other property, plant and equipment 22 1,352 - 202 1,576 Total $ 17,990 $ 11,518 $ 19,102 $ 202 $ 48,812 |
Mineral Property Expenditures (
Mineral Property Expenditures (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Mineral Property Expenditures | |
Schedule of Mineral Property Expenditures | Mineral property expenditures by jurisdiction for the three and nine months ended September 30, 2016 and 2015 For the Three Months Ended September 30, For the Nine Months Ended September 30, 2016 2015 2016 2015 (thousands of dollars) Temrezli project, Turkey $ 31 $ - $ 453 $ - Total Turkey projects 31 - 453 - Kingsville Dome project, Texas 214 200 624 589 Rosita project, Texas 130 306 290 548 Vasquez project, Texas 105 111 365 409 Butler Ranch project, Texas 9 179 19 250 Other projects, Texas 2 55 61 535 Total Texas projects 460 851 1,359 2,331 Cebolleta project, New Mexico - - 537 537 Juan Tafoya project, New Mexico 37 37 48 46 Other projects, New Mexico 32 32 32 107 Total New Mexico projects 69 69 617 690 Columbus Basin project, Nevada 113 - 113 - Other projects, Nevada 14 - 14 - Total Nevada projects 127 - 127 - Sal Rica project, Utah 352 - 352 - Total Utah projects 352 - 352 - Total expense for the period $ 1,039 $ 920 $ 2,908 $ 3,021 |
Convertible Loan, Related Par22
Convertible Loan, Related Party (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Debt Disclosure [Abstract] | |
Summary of Convertible Loan | The following table represents the key components of the RCF Loan: September 30, December 31, 2016 2015 (thousands of dollars) Debt principal $ 8,000 $ 8,000 Unamortized discount (491) (1,846) Carrying value of convertible loan, end of period $ 7,509 $ 6,154 |
Asset Retirement Obligations (T
Asset Retirement Obligations (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Asset Retirement Obligation Disclosure [Abstract] | |
Summary of Asset Retirement Obligation | The following table summarizes the changes in the reserve for future restoration and reclamation costs on the balance sheet: September 30, December 31, 2016 2015 (thousands of dollars) Balance, beginning of period $ 4,468 $ 4,196 Liabilities settled (54) (178) Accretion expense 360 450 Balance, end of period 4,774 4,468 Less: Current portion (121) (121) Less: Liabilities held for sale (105) (105) Non-current portion $ 4,548 $ 4,242 |
Stock-Based Compensation (Table
Stock-Based Compensation (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Summary of Stock Options Outstanding | The following table summarizes stock options outstanding and changes for the nine-month periods ending September 30, 2016 and 2015: September 30, September 30, 2016 2015 Number of Stock Options Weighted Average Exercise Price Number of Stock Options Weighted Average Exercise Price Stock options outstanding at beginning of period 326,424 $ 24.90 13,396 $ 303.36 Expired (215,346) 27.64 (208) 394.80 Stock options outstanding at end of period 111,078 $ 19.60 13,188 $ 300.72 Stock options exercisable at end of period 110,869 $ 19.57 11,139 $ 349.56 |
Summary of Stock Options Outstanding and Exercisable by Stock Option Plan | The following table summarizes stock options outstanding and exercisable by stock option plan at September 30, 2016: Outstanding Stock Options Exercisable Stock Options Stock Option Plan Number of Outstanding Stock Options Weighted Average Exercise Price Number of Exercisable Stock Options Weighted Average Exercise Price 2004 Plan 5,042 $ 64.28 5,042 $ 64.28 2004 Directors Plan 1,390 629.52 1,390 629.52 2013 Plan 417 35.88 208 35.88 Replacement Stock Options 104,229 9.24 104,229 9.33 111,078 19.60 110,869 19.57 |
Summary of Status of Non-Vested Restricted Shares | The following table summarizes RSU activity for the nine-month periods ended September 30, 2016 and 2015: September 30, September 30, 2016 2015 Number of RSUs Weighted-Average Grant Date Fair Value Number of RSUs Weighted-Average Grant Date Fair Value Unvested RSUs at beginning of period 32,699 $ 34.25 45,401 $ 34.08 Granted - - - - Forfeited (3,334) 32.21 (1,667) 32.16 Vested (7,698) 29.45 (11,032) 34.08 Unvested RSUs at end of period 21,667 $ 36.27 32,702 $ 34.20 |
Summary of Restricted Stock Awards | The following table summarizes RSA activity for the nine-month periods ended September 30, 2016 and 2015: September 30, September 30, 2016 2015 Number of RSAs Weighted-Average Grant Date Fair Value Number of RSAs Weighted-Average Grant Date Fair Value Unvested RSAs at beginning of period 1,366 $ 40.01 2,223 $ 62.52 Granted - - - - Forfeited (104) 80.40 (104) 80.40 Vested (336) 47.51 (752) 101.04 Unvested RSAs at end of period 926 $ 32.76 1,367 $ 40.08 |
Basis of Presentation (Details
Basis of Presentation (Details Narrative) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended |
Sep. 30, 2015 | Sep. 30, 2015 | |
Roca Honda Project [Member] | ||
Gain loss on sale of assets | $ 600 | $ 600 |
Basis of Presentation - Summari
Basis of Presentation - Summarizes the Effects of Revision On Consolidated Statements of Operations and Balance Sheets (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | Dec. 31, 2015 | |
Net income/(loss) | $ (3,744) | $ (343) | $ (12,624) | $ (8,656) | |
Basic and diluted income/(loss) per share | $ (0.38) | $ (0.14) | $ (1.81) | $ (3.61) | |
Property, plant and equipment | $ 48,093 | $ 48,093 | $ 48,812 | ||
Total assets | $ 58,631 | $ 58,631 | $ 56,966 | ||
As Filed [Member] | |||||
Gain on disposal of uranium properties | $ 4,916 | $ 4,916 | |||
Net income/(loss) | $ 305 | $ (8,008) | |||
Basic and diluted income/(loss) per share | $ 0.12 | $ (3.36) | |||
Property, plant and equipment | $ 34,622 | $ 34,622 | |||
Total assets | 44,802 | 44,802 | |||
Revision Adjustment [Member] | |||||
Gain on disposal of uranium properties | (648) | ||||
Net income/(loss) | $ (648) | ||||
Basic and diluted income/(loss) per share | $ (0.26) | ||||
Property, plant and equipment | (648) | $ (648) | |||
Total assets | (648) | (648) | |||
As Revised [Member] | |||||
Gain on disposal of uranium properties | 4,268 | 4,268 | |||
Net income/(loss) | $ (343) | $ (8,656) | |||
Basic and diluted income/(loss) per share | $ (0.14) | $ (3.61) | |||
Property, plant and equipment | $ 33,974 | $ 33,974 | |||
Total assets | $ 44,154 | $ 44,154 |
Liquidity and Going Concern (De
Liquidity and Going Concern (Details Narrative) - USD ($) $ / shares in Units, $ in Thousands | Jun. 07, 2016 | Apr. 08, 2016 | Apr. 04, 2016 | Feb. 04, 2016 | Dec. 18, 2015 | Mar. 06, 2015 | Feb. 28, 2014 | Nov. 30, 2013 | Sep. 30, 2016 | Sep. 30, 2015 | Dec. 31, 2015 | Dec. 31, 2014 |
Cash balances | $ 3,826 | $ 3,836 | $ 865 | $ 5,570 | ||||||||
Working capital deficit | 6,000 | |||||||||||
Net proceeds from sale of common stock | 12,511 | $ 5,654 | ||||||||||
Gross proceeds from direct offering | $ 1,250 | $ 800 | $ 6,100 | $ 6,100 | $ 9,300 | |||||||
Resource Capital Fund Loan [Member] | ||||||||||||
Working capital deficit | 7,500 | |||||||||||
Debt maturity date | Dec. 31, 2016 | |||||||||||
Secured loan agreement | $ 8,000 | |||||||||||
Laramide Resources Ltd [Member] | ||||||||||||
Payment for sale of properties | 5,250 | |||||||||||
Extention fees | 250 | |||||||||||
Common Stock Purchase Agreement [Member] | Aspire Capital [Member] | ||||||||||||
Net proceeds from sale of common stock | $ 12,000 | |||||||||||
Maximum number of shares approved to issue | 5,000,000 | |||||||||||
Agreement term | 30 months | |||||||||||
Common Stock Purchase Agreement [Member] | Laramide Resources Ltd [Member] | ||||||||||||
Proceeds from sale properties | 12,500 | |||||||||||
Payment for sale of properties | 5,250 | |||||||||||
Common Stock Purchase Agreements [Member] | Aspire Capital [Member] | ||||||||||||
Net proceeds from sale of common stock | $ 12,000 | |||||||||||
Maximum number of shares approved to issue | 5,000,000 | |||||||||||
Agreement term | 30 months | |||||||||||
Common Stock Purchase Agreements [Member] | Aspire Capital [Member] | November 10, 2016 [Member] | ||||||||||||
Available for future sales | $ 6,300 | |||||||||||
Number of common stock shares available for future sales | 744,650 | |||||||||||
Common Stock Purchase Agreement [Member] | ||||||||||||
Share price | $ 0.50 | |||||||||||
Common Stock Purchase Agreement [Member] | November 10, 2016 [Member] | ||||||||||||
Available for future sales | $ 12,000 | |||||||||||
Number of common stock shares available for future sales | 744,650 | |||||||||||
ATM Sales Agreement [Member] | ||||||||||||
Available for future sales | ||||||||||||
Resource Capital Fund V LP [Member] | Loan Agreement [Member] | ||||||||||||
Debt maturity date | Dec. 31, 2016 |
Property, Plant and Equipment28
Property, Plant and Equipment (Details Narrative) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Property, Plant and Equipment Assets Held-for-sale Disclosure [Abstract] | ||||
Impairment charge | $ 534 |
Property, Plant and Equipment -
Property, Plant and Equipment - Schedule of Property, Plant and Equipment (Details) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
Net property, plant and equipment | $ 48,093 | $ 48,812 |
Turkey [Member] | ||
Net property, plant and equipment | 17,990 | 17,990 |
Texas [Member] | ||
Net property, plant and equipment | 10,857 | 11,518 |
New Mexico [Member] | ||
Net property, plant and equipment | 19,102 | 19,102 |
Corporate [Member] | ||
Net property, plant and equipment | 144 | 202 |
Uranium Plant [Member] | ||
Net property, plant and equipment | 8,621 | 8,653 |
Uranium Plant [Member] | Turkey [Member] | ||
Net property, plant and equipment | ||
Uranium Plant [Member] | Texas [Member] | ||
Net property, plant and equipment | 8,621 | 8,653 |
Uranium Plant [Member] | New Mexico [Member] | ||
Net property, plant and equipment | ||
Uranium Plant [Member] | Corporate [Member] | ||
Net property, plant and equipment | ||
Mineral Rights and Properties [Member] | ||
Net property, plant and equipment | 38,049 | 38,583 |
Mineral Rights and Properties [Member] | Turkey [Member] | ||
Net property, plant and equipment | 17,968 | 17,968 |
Mineral Rights and Properties [Member] | Texas [Member] | ||
Net property, plant and equipment | 979 | 1,513 |
Mineral Rights and Properties [Member] | New Mexico [Member] | ||
Net property, plant and equipment | 19,102 | 19,102 |
Mineral Rights and Properties [Member] | Corporate [Member] | ||
Net property, plant and equipment | ||
Other Property Plant and Equipment [Member] | ||
Net property, plant and equipment | 1,423 | 1,576 |
Other Property Plant and Equipment [Member] | Turkey [Member] | ||
Net property, plant and equipment | 22 | 22 |
Other Property Plant and Equipment [Member] | Texas [Member] | ||
Net property, plant and equipment | 1,257 | 1,352 |
Other Property Plant and Equipment [Member] | New Mexico [Member] | ||
Net property, plant and equipment | ||
Other Property Plant and Equipment [Member] | Corporate [Member] | ||
Net property, plant and equipment | $ 144 | $ 202 |
Mineral Property Expenditures30
Mineral Property Expenditures (Details Narrative) $ in Thousands | 9 Months Ended | ||
Sep. 30, 2016USD ($)shares | Sep. 21, 2016a | Aug. 23, 2016a | |
Area of land | a | 4,600 | ||
Percentage of interest acquired | 100.00% | ||
Number of unregistered shares of commonstock | shares | 100,000 | ||
First Anniversary Date [Member] | |||
Number of unregistered shares of commonstock | shares | 100,000 | ||
Net Smelter Royalty [Member] | |||
Percentage of interest acquired | 2.00% | ||
Mesa SPA [Member] | |||
Area of land | a | 9,800 | ||
Cash paid | $ 50 | ||
Exploration expense | 300 | ||
Mesa SPA [Member] | October 19, 2016 [Member | |||
Cash paid | 50 | ||
Exploration expense | $ 279 |
Mineral Property Expenditures -
Mineral Property Expenditures - Schedule of Mineral Property Expenditures (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Total expense for the period | $ 1,039 | $ 920 | $ 2,908 | $ 3,021 |
Temrezli Project Turkey [Member] | ||||
Total expense for the period | 31 | 453 | ||
Total Turkey Projects [Member] | ||||
Total expense for the period | 31 | 453 | ||
Kingsville Dome Project Texas [Member] | ||||
Total expense for the period | 214 | 200 | 624 | 589 |
Rosita Project Texas [Member] | ||||
Total expense for the period | 130 | 306 | 290 | 548 |
Vasquez Project Texas [Member] | ||||
Total expense for the period | 105 | 111 | 365 | 409 |
Butler Ranch Project Texas [Member] | ||||
Total expense for the period | 9 | 179 | 19 | 250 |
Other Projects Texas [Member] | ||||
Total expense for the period | 2 | 55 | 61 | 535 |
Total Texas Projects [Member] | ||||
Total expense for the period | 460 | 851 | 1,359 | 2,331 |
Cebolleta Project New Mexico [Member] | ||||
Total expense for the period | 537 | 537 | ||
Juan Tafoya Project New Mexico [Member] | ||||
Total expense for the period | 37 | 37 | 48 | 46 |
Other Projects New Mexico [Member] | ||||
Total expense for the period | 32 | 32 | 32 | 107 |
Total New Mexico Projects [Member] | ||||
Total expense for the period | 69 | 69 | 617 | 690 |
Columbus Basin Project Nevada [Member] | ||||
Total expense for the period | 113 | 113 | ||
Other Projects, Nevada [Member] | ||||
Total expense for the period | 14 | 14 | ||
Total Nevada Projects [Member] | ||||
Total expense for the period | 127 | 127 | ||
Sal Rica Project, Utah [Member] | ||||
Total expense for the period | 352 | 352 | ||
Total Utah Projects [Member] | ||||
Total expense for the period | $ 352 | $ 352 |
Assets Held for Sale (Details N
Assets Held for Sale (Details Narrative) - USD ($) $ in Thousands | Apr. 07, 2016 | Sep. 30, 2016 | Dec. 31, 2015 |
Laramide Resources Ltd [Member] | |||
Proceeds from sale properties | $ 5,250 | ||
Promissory note | $ 7,250 | ||
Note term | 3 years | ||
Note initial interest rate | 5.00% | ||
Note interest rate increases | 10.00% | ||
Note payable and due date description | Principal payments of approximately $2.4 million are due and payable on the anniversary of the closing of the transaction in each of 2017, 2018 and 2019. | ||
Note principal payments | $ 2,400 | ||
Purchase price that necessary to fund | $ 5,250 | ||
Extention fees | 250 | ||
Energy Fuels Inc [Member] | |||
Fair value of asset adjustments | $ 2,100 | $ 2,100 |
Convertible Loan, Related Par33
Convertible Loan, Related Party (Details Narrative) - USD ($) $ / shares in Units, $ in Thousands | Jul. 10, 2016 | Jun. 10, 2016 | Mar. 31, 2016 | Jan. 04, 2016 | Apr. 29, 2014 | Sep. 30, 2016 | Dec. 31, 2015 | Sep. 30, 2016 | Mar. 07, 2016 | Nov. 13, 2013 |
Line of Credit Facility [Line Items] | ||||||||||
Number of common stock shares issued for settlement of interest expense | 38,086 | |||||||||
Number of common stock issued for settlement of interest expense | $ 200 | |||||||||
Interest expense | $ 200 | |||||||||
Amortization of debt discount and establishment fee | $ 500 | $ 1,400 | ||||||||
Common stock, shares outstanding | 12,488,022 | 4,522,186 | 12,488,022 | |||||||
Resource Capital Fund V LP [Member] | ||||||||||
Line of Credit Facility [Line Items] | ||||||||||
Interest paid | $ 200 | $ 300 | $ 200 | $ 100 | ||||||
Loan Agreement [Member] | Resource Capital Fund V LP [Member] | ||||||||||
Line of Credit Facility [Line Items] | ||||||||||
Debt maturity date | Dec. 31, 2016 | |||||||||
Debt interest rate | 10.00% | 10.00% | ||||||||
Debt conversation price per shares | $ 31.20 | $ 31.20 | ||||||||
Maximum [Member] | ||||||||||
Line of Credit Facility [Line Items] | ||||||||||
Common stock, shares outstanding | 61,800,000 | |||||||||
Minimum [Member] | ||||||||||
Line of Credit Facility [Line Items] | ||||||||||
Common stock, shares outstanding | 5,200,000 | |||||||||
Resource Capital Fund V LP [Member] | November 10, 2016 [Member] | ||||||||||
Line of Credit Facility [Line Items] | ||||||||||
Common stock, shares outstanding | 718,137 | 718,137 | ||||||||
Percentage of outstanding stock | 5.40% | 5.40% | ||||||||
Debt conversation amount | $ 8,000 | |||||||||
Issuance of common stock, shares | 256,410 | |||||||||
Resource Capital Fund V LP [Member] | Maximum [Member] | November 10, 2016 [Member] | ||||||||||
Line of Credit Facility [Line Items] | ||||||||||
Percentage of outstanding stock | 7.14% | 7.14% | ||||||||
Resource Capital Fund V LP [Member] | Secured Convertible Loan Facility [Member] | Maximum [Member] | ||||||||||
Line of Credit Facility [Line Items] | ||||||||||
Maximum borrowing capacity | $ 15,000 | |||||||||
Resource Capital Fund V LP [Member] | Secured Convertible Loan Facility [Member] | Maximum [Member] | Loan Agreement [Member] | ||||||||||
Line of Credit Facility [Line Items] | ||||||||||
Line of credit fee available | $ 15,000 | |||||||||
Resource Capital Fund V LP [Member] | Secured Convertible Loan Facility [Member] | Minimum [Member] | Loan Agreement [Member] | ||||||||||
Line of Credit Facility [Line Items] | ||||||||||
Line of credit fee available | $ 8,000 |
Convertible Loan, Related Par34
Convertible Loan, Related Party - Summary of Convertible Loan (Details) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
Debt Disclosure [Abstract] | ||
Debt principal | $ 8,000 | $ 8,000 |
Unamortized discount | (491) | (1,846) |
Carrying value of convertible loan, end of period | $ 7,509 | $ 6,154 |
Asset Retirement Obligations (D
Asset Retirement Obligations (Details Narrative) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
Asset Retirement Obligation Disclosure [Abstract] | ||
Asset retirement obligation current | $ 121 | $ 121 |
Asset Retirement Obligations -
Asset Retirement Obligations - Summary of Asset Retirement Obligation (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | Dec. 31, 2015 | |
Asset Retirement Obligation Disclosure [Abstract] | |||||
Balance, beginning of period | $ 4,468 | $ 4,196 | $ 4,196 | ||
Liabilities settled | (54) | (178) | |||
Accretion expense | $ 120 | $ 112 | 360 | $ 337 | 450 |
Balance, end of period | 4,774 | 4,774 | 4,468 | ||
Less: Current portion | (121) | (121) | (121) | ||
Less: Liabilities held for sale | (105) | (105) | (105) | ||
Non-current Portion | $ 4,548 | $ 4,548 | $ 4,242 |
Common Stock (Details Narrative
Common Stock (Details Narrative) - USD ($) $ / shares in Units, $ in Thousands | Aug. 02, 2016 | Jun. 07, 2016 | Jun. 03, 2016 | Apr. 08, 2016 | Apr. 04, 2016 | Feb. 04, 2016 | Feb. 03, 2016 | Jan. 08, 2016 | Dec. 18, 2015 | Nov. 17, 2015 | Mar. 06, 2015 | Oct. 31, 2011 | Feb. 28, 2014 | Sep. 30, 2016 | Sep. 30, 2015 | Dec. 31, 2015 | Mar. 07, 2016 |
Common stock, shares outstanding | 12,488,022 | 4,522,186 | |||||||||||||||
Common stock, shares authorized | 100,000,000 | 100,000,000 | |||||||||||||||
Proceeds from direct offering | $ 1,250 | $ 800 | $ 6,100 | $ 6,100 | $ 9,300 | ||||||||||||
Purchase of common stock | $ 12,511 | $ 5,654 | |||||||||||||||
Number of common stock issuance during the period | $ 11,988 | ||||||||||||||||
Anatolia Energy Limited [Member] | |||||||||||||||||
Common stock issued for acquisition related fees, shares | 50,665 | 117,097 | 47,229 | ||||||||||||||
Shares issued price per share | $ 1.42 | $ 6 | $ 1.60 | ||||||||||||||
Common stock issued for acquisition related fees | $ 100 | $ 700 | $ 100 | ||||||||||||||
Common Stock Purchase Agreement [Member] | |||||||||||||||||
Sale of common stock, shares | 3,220,000 | ||||||||||||||||
Proceeds from sales of common stock | $ 4,700 | ||||||||||||||||
Common Stock Purchase Agreement One [Member] | |||||||||||||||||
Sale of common stock, shares | 795,350 | ||||||||||||||||
Proceeds from sales of common stock | $ 1,000 | ||||||||||||||||
Common Stock Purchase Agreement [Member] | November 10, 2016 [Member] | |||||||||||||||||
Proceeds from future sale of equity | 6,300 | ||||||||||||||||
Available for future sales | $ 12,000 | ||||||||||||||||
Number of common stock shares available for future sales | 744,650 | ||||||||||||||||
Option Agreement [Member] | Aspire Capital [Member] | |||||||||||||||||
Number of common stock shares issued during the period | 75,000 | ||||||||||||||||
Agreement term | 24 months | ||||||||||||||||
Purchase of common stock | $ 10,000 | ||||||||||||||||
Number of common stock issuance during the period | $ 300 | ||||||||||||||||
ATM Sales Agreement [Member] | |||||||||||||||||
Available for future sales | |||||||||||||||||
ATM Sales Agreement [Member] | BTIG, LLC [Member] | |||||||||||||||||
Sale of common stock, shares | 3,298,396 | ||||||||||||||||
Proceeds from direct offering | $ 6,000 | $ 15,000 | |||||||||||||||
Proceeds from sales of common stock | $ 5,800 | ||||||||||||||||
Percentage of commission to be paid on gross proceeds | 3.00% | ||||||||||||||||
Loan Agreement [Member] | Resource Capital Fund V LP [Member] | |||||||||||||||||
Issuance of common stock for payment of accrued interest and fees, shares | 38,086 | ||||||||||||||||
Issuance of common stock for payment of accrued interest and fees | $ 200 | ||||||||||||||||
URI and Aspire Capital [Member] | |||||||||||||||||
Sale of common stock, shares | 375,000 | ||||||||||||||||
Proceeds from direct offering | $ 1,200 | ||||||||||||||||
Sale of stock price per share | $ 2.17 | ||||||||||||||||
Pre-funded common stock purchase warrants | 200,000 | ||||||||||||||||
Pre-funded warrants price per share | $ 2.16 | ||||||||||||||||
Pre-funded warrants amount | $ 400 | ||||||||||||||||
Warrants exercise price per share | $ 0.01 | ||||||||||||||||
Warrants term | 3 years | ||||||||||||||||
URI and Aspire Capital [Member] | Stock Purchase Agreements [Member] | |||||||||||||||||
Sale of common stock, shares | 296,666 | ||||||||||||||||
Proceeds from direct offering | $ 800 | ||||||||||||||||
Aspire Capital [Member] | |||||||||||||||||
Number of common stock shares issued during the period | 200,000 | ||||||||||||||||
Aspire Capital [Member] | Common Stock Purchase Agreement [Member] | |||||||||||||||||
Number of common stock shares issued during the period | 240,000 | ||||||||||||||||
Agreement term | 30 months | ||||||||||||||||
Purchase of common stock | $ 12,000 | ||||||||||||||||
Maximum number of shares approved to issue | 5,000,000 | ||||||||||||||||
Maximum [Member] | |||||||||||||||||
Common stock, shares outstanding | 61,800,000 | ||||||||||||||||
Common stock, shares authorized | 200,000,000 | ||||||||||||||||
Minimum [Member] | |||||||||||||||||
Common stock, shares outstanding | 5,200,000 | ||||||||||||||||
Common stock, shares authorized | 100,000,000 |
Stock-Based Compensation (Detai
Stock-Based Compensation (Details Narrative) - USD ($) $ / shares in Units, $ in Thousands | Sep. 30, 2016 | Mar. 31, 2015 | Sep. 30, 2016 | Jun. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Stock-based compensation expense | $ 100 | $ 300 | $ 500 | $ 800 | ||
Number of replacement options and performance shares issued | 374,749 | |||||
Replacement options and performance shares, exchange rate | $ 0.00548 | |||||
Employee Stock Option [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Number of replacement options and performance shares issued | 209,872 | |||||
Stock option exercise price | $ 16.68 | $ 16.68 | 16.68 | |||
Fair value of stock option exercised per share | $ 1.71 | $ 1.71 | $ 1.71 | |||
Restricted Stock Units [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Unrecognized compensation cost from unvested stock options | $ 300 | $ 300 | $ 300 | |||
Weighted average period of unvested stock options | 7 months 24 days | |||||
2013 Omnibus Incentive Plan [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Number of common stock shares reserved for future issuance | 49,569 | 49,569 | 49,569 | |||
Bonus shares vested grant date fair value | $ 300 |
Stock-Based Compensation - Summ
Stock-Based Compensation - Summary of Stock Options Outstanding (Details) - $ / shares | 9 Months Ended | |
Sep. 30, 2016 | Sep. 30, 2015 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ||
Number of Stock options outstanding at beginning of period | 326,424 | 13,396 |
Number of stock options outstanding, Expired | (215,346) | (208) |
Number of Stock options outstanding at end of period | 111,078 | 13,188 |
Number of Stock options exercisable at end of period | 110,869 | 11,139 |
Weighted average exercise price, Stock options outstanding at beginning of period | $ 24.90 | $ 303.36 |
Weighted average exercise price, Expired | 27.64 | 394.80 |
Weighted average exercise price, Stock options outstanding at end of period | 19.60 | 300.72 |
Weighted average exercise price, Stock options exercisable at end of period | $ 19.57 | $ 349.56 |
Stock-Based Compensation - Su40
Stock-Based Compensation - Summary of Stock Options Outstanding and Exercisable by Stock Option Plan (Details) - $ / shares | Sep. 30, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Dec. 31, 2014 |
Outstanding Stock Options, Number of Options Outstanding | 111,078 | 326,424 | 13,188 | 13,396 |
Outstanding Stock Options, Weighted Average Exercise Price | $ 19.60 | $ 24.90 | $ 300.72 | $ 303.36 |
Exercisable Stock Options Exercisable, Number of Options Exercisable | 110,869 | 11,139 | ||
Exercisable Stock Options Exercisable, Weighted Average Exercise Price | $ 19.57 | $ 349.56 | ||
2004 Plan [Member] | ||||
Outstanding Stock Options, Number of Options Outstanding | 5,042 | |||
Outstanding Stock Options, Weighted Average Exercise Price | $ 64.28 | |||
Exercisable Stock Options Exercisable, Number of Options Exercisable | 5,042 | |||
Exercisable Stock Options Exercisable, Weighted Average Exercise Price | $ 64.28 | |||
2004 Director's Plan [Member] | ||||
Outstanding Stock Options, Number of Options Outstanding | 1,390 | |||
Outstanding Stock Options, Weighted Average Exercise Price | $ 629.52 | |||
Exercisable Stock Options Exercisable, Number of Options Exercisable | 1,390 | |||
Exercisable Stock Options Exercisable, Weighted Average Exercise Price | $ 629.52 | |||
2013 Plan [Member] | ||||
Outstanding Stock Options, Number of Options Outstanding | 417 | |||
Outstanding Stock Options, Weighted Average Exercise Price | $ 35.88 | |||
Exercisable Stock Options Exercisable, Number of Options Exercisable | 208 | |||
Exercisable Stock Options Exercisable, Weighted Average Exercise Price | $ 35.88 | |||
Replacement Stock Options [Member] | ||||
Outstanding Stock Options, Number of Options Outstanding | 104,229 | |||
Outstanding Stock Options, Weighted Average Exercise Price | $ 9.24 | |||
Exercisable Stock Options Exercisable, Number of Options Exercisable | 104,229 | |||
Exercisable Stock Options Exercisable, Weighted Average Exercise Price | $ 9.33 |
Stock-Based Compensation - Su41
Stock-Based Compensation - Summary of Status of Non-Vested Restricted Shares (Details) - Restricted Stock [Member] - $ / shares | 9 Months Ended | |
Sep. 30, 2016 | Sep. 30, 2015 | |
Number of restricted stock, Unvested Beginning of period | 32,699 | 45,401 |
Number of restricted stock units, Granted | ||
Number of restricted stock units, Forfeited | (3,334) | (1,667) |
Number of restricted stock units, Vested | (7,698) | (11,032) |
Number of restricted stock, Unvested End of period | 21,667 | 32,702 |
Weighted Average Grant Date Fair Value, Unvested Beginning of period | $ 34.25 | $ 34.08 |
Weighted Average Grant Date Fair Value, Granted | ||
Weighted Average Grant Date Fair Value, Forfeited | 32.21 | 32.16 |
Weighted Average Grant Date Fair Value, Vested | 29.45 | 34.08 |
Weighted Average Grant Date Fair Value, Unvested End of period | $ 36.27 | $ 34.20 |
Stock-Based Compensation - Su42
Stock-Based Compensation - Summary of Restricted Stock Awards (Details) - Restricted Stock Awards [Member] - $ / shares | 9 Months Ended | |
Sep. 30, 2016 | Sep. 30, 2015 | |
Number of restricted stock, Unvested Beginning of period | 1,366 | 2,223 |
Number of restricted stock, Granted | ||
Number of restricted stock, Forfeited | (104) | (104) |
Number of restricted stock, Vested | (336) | (752) |
Number of restricted stock, Unvested End of period | 926 | 1,367 |
Weighted Average Grant Date Fair Value, Unvested Beginning of period | $ 40.01 | $ 62.52 |
Weighted Average Grant Date Fair Value, Granted | ||
Weighted Average Grant Date Fair Value, Forfeited | 80.40 | 80.40 |
Weighted Average Grant Date Fair Value, Vested | 47.51 | 101.04 |
Weighted Average Grant Date Fair Value, Unvested End of period | $ 32.76 | $ 40.08 |
Earnings Per Share (Details Nar
Earnings Per Share (Details Narrative) - shares | 3 Months Ended | 9 Months Ended |
Sep. 30, 2016 | Sep. 30, 2016 | |
Earnings Per Share [Abstract] | ||
Potentially dilutive shares were excluded from calculation of earnings per share | 839,227 | 839,227 |
Commitments and Contingencies (
Commitments and Contingencies (Details Narrative) - Settlement Agreement [Member] - Former Contractor [Member] $ in Thousands | 9 Months Ended |
Sep. 30, 2016USD ($) | |
Settlement amount | $ 90 |
Paid Within 5 Business Days [Member] | |
Settlement amount | 10 |
Paid On or Before June 30, 2016 [Member] | |
Settlement amount | 40 |
Paid On or Before September 30, 2016 [Member] | |
Settlement amount | $ 40 |
Geographic and Segment Inform45
Geographic and Segment Information (Details Narrative) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016USD ($) | Jun. 30, 2015USD ($) | Sep. 30, 2016USD ($)ReportableSegments | Sep. 30, 2015USD ($) | |
Segment Reporting [Abstract] | ||||
Number of reportable operating segment | ReportableSegments | 1 | |||
Revenues | $ |