Document_And_Entity_Informatio
Document And Entity Information (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Mar. 14, 2014 | Jun. 30, 2013 | |
Document and Entity Information [Abstract] | ' | ' | ' |
Entity Registrant Name | 'PLC SYSTEMS INC | ' | ' |
Document Type | '10-K | ' | ' |
Current Fiscal Year End Date | '--12-31 | ' | ' |
Entity Common Stock, Shares Outstanding | ' | 124,998,195 | ' |
Entity Public Float | ' | ' | $2,898,000 |
Amendment Flag | 'false | ' | ' |
Entity Central Index Key | '0000879682 | ' | ' |
Entity Current Reporting Status | 'Yes | ' | ' |
Entity Voluntary Filers | 'No | ' | ' |
Entity Filer Category | 'Smaller Reporting Company | ' | ' |
Entity Well-known Seasoned Issuer | 'No | ' | ' |
Document Period End Date | 31-Dec-13 | ' | ' |
Document Fiscal Year Focus | '2013 | ' | ' |
Document Fiscal Period Focus | 'FY | ' | ' |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
Current assets: | ' | ' |
Cash and cash equivalents | $769,000 | $258,000 |
Restricted cash | 30,000 | ' |
Accounts receivable, net of allowance of $2 at December 31, 2013 and 2012, respectively | 502,000 | 402,000 |
Inventories | 117,000 | 182,000 |
Prepaid expenses and other current assets | 99,000 | 178,000 |
Total current assets | 1,517,000 | 1,020,000 |
Equipment, furniture and leasehold improvements, net | 37,000 | 67,000 |
Other assets | 4,000 | 4,000 |
Total assets | 1,558,000 | 1,091,000 |
Current liabilities: | ' | ' |
Accounts payable | 425,000 | 377,000 |
Accrued compensation | 39,000 | 78,000 |
Accrued other | 519,000 | 368,000 |
Deferred revenue | ' | 317,000 |
Total current liabilities | 983,000 | 1,140,000 |
Convertible notes | 4,537,000 | 8,098,000 |
Warrant and option liabilities | 2,680,000 | 3,800,000 |
Stockholders’ equity (deficit): | ' | ' |
Common stock, no par value, unlimited shares authorized, 125,000 shares issued and outstanding; 35,666 unissued and reserved at December 31, 2013; and 32,434 shares issued and outstanding at December 31, 2012 | 97,190,000 | 93,893,000 |
Additional paid in capital | 48,000 | 1,540,000 |
Accumulated deficit | -103,615,000 | -107,114,000 |
Accumulated other comprehensive loss | -265,000 | -266,000 |
Total stockholders’ deficit | -6,642,000 | -11,947,000 |
Total liabilities and stockholders’ deficit Total liabilities and stockholders’ equity | $1,558,000 | $1,091,000 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parentheticals) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, except Per Share data, unless otherwise specified | ||
Accounts receivable, allowance (in Dollars) | $2 | $2 |
Common stock, par value (in Dollars per share) | $0 | $0 |
Common stock, shares issued | 125,000 | 32,434 |
Common stock, shares outstanding | 125,000 | 32,434 |
Common stock, shares unissued | 35,666 | ' |
Common stock, shares reserved | 35,666 | ' |
Consolidated_Statements_of_Ope
Consolidated Statements of Operations (USD $) | 12 Months Ended | |
Share data in Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Revenues | $1,274,000 | $1,080,000 |
Cost of revenues | 531,000 | 541,000 |
Gross profit | 743,000 | 539,000 |
Operating expenses: | ' | ' |
Selling, general and administrative | 3,329,000 | 2,633,000 |
Research and development | 2,118,000 | 2,031,000 |
Total operating expenses | 5,447,000 | 4,664,000 |
Loss from operations | -4,704,000 | -4,125,000 |
Other income (expense): | ' | ' |
Interest expense | -337,000 | -555,000 |
Foreign currency transaction gains | 17,000 | 14,000 |
Financing costs associated with convertible notes | ' | -80,000 |
Change in fair value of warrant and options liabilities | 6,964,000 | -1,617,000 |
Change in fair value of convertible notes | 4,814,000 | -2,024,000 |
Loss from the extinguishment of convertible notes | -3,274,000 | ' |
Other income | 19,000 | ' |
Total other income (expense) | 8,203,000 | -4,262,000 |
Net income (loss) | $3,499,000 | ($8,387,000) |
Net income (loss) per weighted average share, basic: (in Dollars per share) | $0.05 | ($0.27) |
Net income (loss) per weighted average share, diluted: (in Dollars per share) | $0.03 | ' |
Weighted average shares outstanding: | ' | ' |
Basic (in Shares) | 77,061 | 31,139 |
Diluted (in Shares) | 112,728 | 31,139 |
Consolidated_Statements_of_Com
Consolidated Statements of Comprehensive Income (Loss) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Net income (loss) | $3,499 | ($8,387) |
Other comprehensive income (loss): | ' | ' |
Foreign currency translation adjustments | 1 | -16 |
Other comprehensive income (loss) | 1 | -16 |
Comprehensive income (loss) | $3,500 | ($8,403) |
Consolidated_Statements_of_Sto
Consolidated Statements of Stockholder's Equity (Deficit) (USD $) | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | Total |
Balance at Dec. 31, 2011 | $93,893,000 | $996,000 | ($98,727,000) | ($250,000) | ($4,088,000) |
Balance (in Shares) at Dec. 31, 2011 | 30,351,000 | ' | ' | ' | ' |
Stock based compensation | ' | 80,000 | ' | ' | 80,000 |
Issuance of restricted stock | ' | 464,000 | ' | ' | 464,000 |
Issuance of restricted stock (in Shares) | 2,083,000 | ' | ' | ' | ' |
Net income (loss) | ' | ' | -8,387,000 | ' | -8,387,000 |
Other comprehensive income (loss) | ' | ' | ' | -16,000 | -16,000 |
Balance at Dec. 31, 2012 | 93,893,000 | 1,540,000 | -107,114,000 | -266,000 | -11,947,000 |
Balance (in Shares) at Dec. 31, 2012 | 32,434,000 | ' | ' | ' | 32,434,000 |
Stock based compensation | ' | 145,000 | ' | ' | 145,000 |
Issuance of restricted stock | ' | 56,000 | ' | ' | 56,000 |
Issuance of restricted stock (in Shares) | 417,000 | ' | ' | ' | ' |
Net income (loss) | ' | ' | 3,499,000 | ' | 3,499,000 |
Other comprehensive income (loss) | ' | ' | ' | 1,000 | 1,000 |
Issuance of common stock | -168,000 | -1,693,000 | ' | ' | -1,861,000 |
Issuance of common stock (in Shares) | 60,833,000 | ' | ' | ' | ' |
Exercise of warrants | 2,655,000 | ' | ' | ' | 2,655,000 |
Exercise of warrants (in Shares) | 23,011,000 | ' | ' | ' | ' |
Conversion of notes | 810,000 | ' | ' | ' | 810,000 |
Conversion of notes (in Shares) | 8,305,000 | ' | ' | ' | ' |
Balance at Dec. 31, 2013 | $97,190,000 | $48,000 | ($103,615,000) | ($265,000) | ($6,642,000) |
Balance (in Shares) at Dec. 31, 2013 | 125,000,000 | ' | ' | ' | 125,000,000 |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Cash flows from operating activities: | ' | ' |
Net income (loss) | $3,499,000 | ($8,387,000) |
Depreciation and amortization | 53,000 | 43,000 |
Stock-based compensation expense | 201,000 | 544,000 |
Change in fair value of warrant and options liabilities | -6,964,000 | 1,617,000 |
Change in fair value of convertible notes | -4,814,000 | 2,024,000 |
Loss on extinguishment of convertible notes | 3,274,000 | ' |
Financing costs associated with convertible notes | ' | 80,000 |
Non-cash interest expense | 95,000 | 331,000 |
Change in assets and liabilities: | ' | ' |
Restricted cash | -30,000 | ' |
Accounts receivable | -80,000 | 48,000 |
Inventory | 42,000 | 56,000 |
Prepaid expenses and other assets | 81,000 | 58,000 |
Accounts payable | 48,000 | 228,000 |
Deferred revenue | -319,000 | 32,000 |
Accrued liabilities | 110,000 | 161,000 |
Net cash flows used in operating activities | -4,804,000 | -3,165,000 |
Cash flows from investing activities: | ' | ' |
Purchase of property and equipment | ' | -74,000 |
Net cash used for investing activities | ' | -74,000 |
Cash flows from financing activities: | ' | ' |
Net proceeds from sale of common stock and warrants | 5,079,000 | ' |
Net proceeds from issuance of convertible notes and warrants | 250,000 | 920,000 |
Net cash provided by financing activities | 5,329,000 | 920,000 |
Effect of exchange rate changes on cash and cash equivalents | -14,000 | -8,000 |
Net (decrease) increase in cash and cash equivalents | 511,000 | -2,327,000 |
Cash and cash equivalents at beginning of period | 258,000 | 2,585,000 |
Cash and cash equivalents at end of period | 769,000 | 258,000 |
Supplemental disclosure of cash flow information: | ' | ' |
Cash paid for interest | 107,000 | 217,000 |
Supplemental disclosure of non-cash financing activities: | ' | ' |
Cashless exercise of warrants | 2,655,000 | ' |
Cashless conversion of convertible notes | $810,000 | ' |
Note_1_Business_and_Liquidity
Note 1 - Business and Liquidity | 12 Months Ended |
Dec. 31, 2013 | |
Business And Liquidity Disclosure [Abstract] | ' |
Business And Liquidity Disclosure [Text Block] | ' |
1. Business and Liquidity | |
PLC Systems Inc. (“PLC” or the “Company”) is a medical device company specializing in innovative technologies for the cardiac and vascular markets. Over the past five years, the Company has begun initial commercialization outside the United States of its product, RenalGuard®, which currently represents the Company’s key strategic growth initiative and primary business focus. The RenalGuard System consists of a proprietary console and accompanying single-use sets and is designed to reduce the potentially toxic effects that contrast media can have on the kidneys when it is administered to patients during certain medical imaging procedures. The Company conducts business operations as one operating segment. | |
For the year ended December 31, 2013, the Company incurred a net loss from operations of approximately $4,704,000, used cash in operations of approximately $4,804,000, and as of December 31, 2013 has an accumulated deficit of approximately $103,615,000. As of December 31, 2013, cash and cash equivalents were $769,000. Management expects that quarterly losses and negative cash flows from operations will continue during 2014. These factors raise substantial doubt about the Company’s ability to continue as a going concern. The accompanying consolidated financial statements have been prepared assuming that the Company will continue as a going concern, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. The financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts or the amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern. | |
Based upon the current financial condition of the Company and the expectation of continued quarterly losses from operations during 2014, management is currently investigating ways to raise additional capital that can be completed in the next several weeks. The Company believes that its existing resources, based on its currently projected financial results, are sufficient to fund operations through April 2014. Based upon current and anticipated revenue projections from foreign sales of our RenalGuard product, and the anticipated costs of its U.S. clinical trial, we expect that we will need to raise additional capital during the remainder of 2014. |
Note_2_Significant_Accounting_
Note 2 - Significant Accounting Policies | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||
Accounting Policies [Abstract] | ' | ||||||||||||||||||||
Significant Accounting Policies [Text Block] | ' | ||||||||||||||||||||
2. Significant Accounting Policies | |||||||||||||||||||||
Basis of Presentation | |||||||||||||||||||||
The consolidated financial statements include the accounts of PLC and its two wholly owned subsidiaries, PLC Medical Systems, Inc. and PLC Systemas Medicos Internacionais (Deutschland) GmbH. All intercompany accounts and transactions have been eliminated. | |||||||||||||||||||||
Use of Estimates | |||||||||||||||||||||
The preparation of financial statements in accordance with generally accepted accounting principles requires the Company to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Significant estimates include revenue recognition, warranty, inventory valuation, accounts receivable, and convertible notes and warrant liabilities. Actual results could differ from those estimates. | |||||||||||||||||||||
Cash and Cash Equivalents | |||||||||||||||||||||
The Company considers all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents. Cash at December 31, 2013 and 2012, respectively, consisted of deposits held in bank checking accounts. | |||||||||||||||||||||
Concentrations of Credit Risk | |||||||||||||||||||||
Financial instruments that potentially subject the Company to concentration of credit risk include cash, cash equivalents and accounts receivable. At times, the Company possesses cash balances above federally-insured limits. The Company believes it minimizes its exposure to potential concentrations of credit risk by placing its cash equivalents in high-quality financial institutions. At December 31, 2013 and 2012, the majority of the cash and cash equivalents balance was invested with a single financial institution. | |||||||||||||||||||||
Artech, the Company’s distributor in Italy, accounted for 68% and 35% of the Company’s revenues for the years ended December 31, 2013 and 2012, respectively. ACIST, the Company’s distributor in France and Germany, accounted for 11% and 9% of the Company’s revenues for the year ended December 31, 2013 and 2012, respectively. Discomed, the Company’s distributor in Brazil, accounted for 8% and 29% of the Company’s revenues for the years ended December 31, 2013 and 2012, respectively. At December 31, 2013, Artech, Discomed and ACIST accounted for 83%, 0% and 3%, respectively of gross accounts receivable. | |||||||||||||||||||||
Concentration of Revenues | |||||||||||||||||||||
All of the Company’s revenues for the years ended December 31, 2013 and 2012, respectively, were derived from the sales of RenalGuard. | |||||||||||||||||||||
Net sales to unaffiliated customers (by origin) are summarized below (in thousands): | |||||||||||||||||||||
South America | North America | Europe | Other | Total | |||||||||||||||||
2013 | |||||||||||||||||||||
Net sales | $ | 96 | $ | 31 | $ | 1,040 | $ | 107 | $ | 1,274 | |||||||||||
2012 | |||||||||||||||||||||
Net sales | $ | 312 | $ | 35 | $ | 588 | $ | 145 | $ | 1,080 | |||||||||||
Accounts Receivable | |||||||||||||||||||||
Accounts receivable is stated at the amount the Company expects to collect from the outstanding balances. The Company continuously monitors collections from customers and maintains a provision for estimated credit losses based upon historical experience and any specific customer collection issues that the Company has identified. Historically, the Company has not experienced significant losses related to its accounts receivable. Collateral is generally not required. If the financial condition of its customers were to deteriorate, resulting in an impairment of their ability to make payments, additional allowances could be required. | |||||||||||||||||||||
Inventories | |||||||||||||||||||||
Inventories are stated at average cost (computed on a first-in, first-out method) and include allocations of labor and overhead. The Company regularly reviews slow-moving and excess inventories, and writes down inventories to net realizable value if the ultimate expected proceeds from the disposals of excess inventory are less than the carrying cost of the inventory. | |||||||||||||||||||||
Equipment, Furniture, Leasehold Improvements and Long-Lived Assets | |||||||||||||||||||||
Equipment, furniture and leasehold improvements are stated on the basis of cost. Depreciation is computed principally on the straight-line method for financial reporting purposes. | |||||||||||||||||||||
Depreciation and amortization are based on the following useful lives: | |||||||||||||||||||||
Equipment (in years) | 2 | - | 5 | ||||||||||||||||||
Office furniture and fixtures (in years) | 5 | ||||||||||||||||||||
Leasehold improvements | Shorter of life of lease or useful life | ||||||||||||||||||||
The carrying amount of long-lived assets is reviewed whenever events or changes in circumstances indicate that the carrying value of an asset may not be recoverable. When required, recoverability of these assets is measured by comparing the carrying amount of the asset to the future undiscounted cash flows the asset is expected to generate. If the asset is considered to be impaired, the amount of any impairment is measured as the difference between the carrying value and the fair value of the impaired asset. During the years ended December 31, 2013 and 2012, the Company did not recognize any asset impairment charges. | |||||||||||||||||||||
Warranty and Preventative Maintenance Costs | |||||||||||||||||||||
The Company evaluates the estimated future unrecoverable costs of warranty and preventative maintenance services for its installed base products on a quarterly basis and adjusts its warranty reserve accordingly. The Company considers all available evidence, including historical experience and information obtained from supplier audits. There was no reserve for warranty and preventative maintenance costs recorded at December 31, 2013 and 2012. | |||||||||||||||||||||
Valuation of Convertible Notes and Warrant Liabilities | |||||||||||||||||||||
The valuation of our convertible notes and our warrant liabilities as derivative instruments utilizes certain estimates and judgments that affect the fair value of the instruments. Fair values are estimated by utilizing valuation models that consider current and expected stock prices, volatility, dividends, forward yield curves and discount rates. Such amounts and the recognition of such amounts are subject to significant estimates that may change in the future. | |||||||||||||||||||||
Revenue Recognition | |||||||||||||||||||||
The Company recognizes revenue when the following basic revenue recognition criteria have been met: | |||||||||||||||||||||
(1) persuasive evidence of an arrangement exists; (2) delivery has occurred or services rendered; (3) the price to the buyer is fixed or determinable; and (4) collectability is reasonably assured. Determination of criteria (3) and (4) are based on management’s judgments regarding the fixed nature of the price to the buyer charged for products delivered or services rendered and collectability of the sales price. The Company assesses credit worthiness of customers based upon prior history with the customer and assessment of financial condition. The Company’s shipping terms are customarily Free On Board (“FOB”) shipping point. | |||||||||||||||||||||
The Company typically records all product revenue at the time of shipment if all other revenue recognition criteria are met. As of December 31, 2012, the Company had a deferred revenue balance of $317,000, related to shipments to its distributor in Italy, Artech, because not all revenue recognition criteria were met. During the years ended December 31, 2013 and 2012, the Company recognized $317,000, and $381,000, respectively, in revenue of previously deferred revenue upon the receipt of cash. The Company had deferred cost of goods sold of $85,000 as of December 31, 2012, which was classified as prepaid expenses and other current assets on the Consolidated Balance Sheets due to Artech revenue recognition criteria not being met. This amount was recorded as cost of revenues for the year ended December 31, 2013. | |||||||||||||||||||||
Foreign Currency Translation | |||||||||||||||||||||
Assets and liabilities of the Company’s foreign subsidiary are translated into U.S. dollars at end-of-period exchange rates, while income and expense items are translated at average rates of exchange prevailing during the year. Exchange gains and losses arising from translation are accumulated as a separate component of stockholders’ equity. The Company records the impact from foreign currency transactions as a component of other income (expense). | |||||||||||||||||||||
Income Taxes | |||||||||||||||||||||
The Company uses an asset and liability based approach in accounting for income taxes. Deferred income tax assets and liabilities are recognized for the future tax consequences attributed to differences between the financial statement and tax basis of existing assets and liabilities using enacted rates applicable to the periods in which the differences are expected to affect taxable income. A valuation allowance is established, when necessary, to reduce deferred tax assets to the amount estimated by us to be realizable. | |||||||||||||||||||||
Research and Development | |||||||||||||||||||||
Research and development costs are expensed as incurred. | |||||||||||||||||||||
Fair Value Measurements | |||||||||||||||||||||
The Company measures and reports fair value in accordance with Accounting Standards Codifications (“ASC”) 820 – Fair Value Measurements and Disclosures (ASC 820). ASC 820 defines fair value, establishes a framework for measuring fair value in accordance with generally accepted accounting principles and expands disclosures about fair value investments. | |||||||||||||||||||||
Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The fair value of an asset should reflect its highest and best use by market participants, principal (or most advantageous) markets, and an in-use or an in-exchange valuation premise. The fair value of a liability should reflect the risk of nonperformance, which includes, among other things, the Company’s credit risk. | |||||||||||||||||||||
Valuation techniques are generally classified into three categories: the market approach; the income approach; and the cost approach. The selection and application of one or more of the techniques may require significant judgment and are primarily dependent upon the characteristics of the asset or liability, and the quality and availability of inputs. Valuation techniques used to measure fair value under ASC 820 must maximize the use of observable inputs and minimize the use of unobservable inputs. ASC 820 also provides fair value hierarchy for inputs and resulting measurement as follows: | |||||||||||||||||||||
Level 1 | |||||||||||||||||||||
Quoted prices (unadjusted) in active markets that are accessible at the measurement date for identical assets or liabilities; | |||||||||||||||||||||
Level 2 | |||||||||||||||||||||
Quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities in markets that are not active; inputs other than quoted prices that are observable for the asset or liability; and inputs that are derived principally from or corroborated by observable market data for substantially the full term of the assets or liabilities; and | |||||||||||||||||||||
Level 3 | |||||||||||||||||||||
Unobservable inputs for the asset or liability that are supported by little or no market activity and that are significant to the fair values. | |||||||||||||||||||||
Fair value measurements are required to be disclosed by the Level within the fair value hierarchy in which the fair value measurements in their entirety fall. Fair value measurements using significant unobservable inputs (in Level 3 measurements) are subject to expanded disclosure requirements including a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (i) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings, and a description of where those gains or losses included in earning are reported in the statement of income. | |||||||||||||||||||||
The Company’s assets and liabilities measure at fair value on a recurring basis include convertible notes, warrants and certain options to purchase common stock. See Note 10 for related fair value disclosures. | |||||||||||||||||||||
Earnings Per Share | |||||||||||||||||||||
Basic earnings per share is calculated using the Company’s weighted-average outstanding common shares. Diluted earnings per share is calculated using: the weighted-average outstanding common shares; the dilutive effect of applying the “if converted method” to convertible notes and investor warrants with cashless exercise provisions; and the dilutive effect of applying the treasury stock method to stock options and warrants. In applying the if-converted method to convertible notes and investor warrants with cashless exercise provision, the Company has adjusted net income (loss) to exclude the impact of fair value changes and interest expense associated with these instruments for the purpose of calculating diluted earnings per share. The following table reconciles net income (loss) and weighted average shares outstanding used in computing basic and diluted earnings per share: | |||||||||||||||||||||
For the Year Ended December 31, | |||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||
Net income (loss) | $ | 3,499 | $ | (8,387 | ) | ||||||||||||||||
Change in fair value of warrants | -- | -- | |||||||||||||||||||
Change in fair value of convertible notes | -- | -- | |||||||||||||||||||
Interest Expense on convertible notes | -- | -- | |||||||||||||||||||
Net income (loss) available to common stockholders, plus assumed conversions | 3,499 | (8,387 | ) | ||||||||||||||||||
Basic weighted-average shares outstanding | 77,061 | 31,139 | |||||||||||||||||||
Effect of dilutive securities: | |||||||||||||||||||||
Convertible notes | -- | -- | |||||||||||||||||||
Right to shares | 35,667 | -- | |||||||||||||||||||
Warrants | -- | -- | |||||||||||||||||||
Stock Options | -- | -- | |||||||||||||||||||
Weighted-average shares-diluted | 112,728 | 31,139 | |||||||||||||||||||
Net income per share-basic | $ | 0.05 | $ | (0.27 | ) | ||||||||||||||||
Net income per share-diluted | $ | 0.03 | $ | -- | |||||||||||||||||
For the year ended December 31, 2012, 47,096,000 shares attributable to outstanding convertible notes, options and warrants were excluded from the calculation of diluted earnings per share as their effect would have been antidilutive. For the year ended December 31, 2013, outstanding convertible notes, options and warrants to purchase 248,336,287 shares of common stock, respectively, were excluded from the calculations of diluted earnings per share as their effect would have been anti-dilutive. | |||||||||||||||||||||
During the year ended December 31, 2013, options and warrants to purchase 40,711,000 shares of common stock, were excluded from the calculations of diluted earnings per share as their effect would have been anti-dilutive. In addition, when applying the “if converted” method to the convertible debt and warrants with cashless exercise provisions, the net impact of eliminating the fair value changes of the convertible debt and warrants would result in a net loss for the twelve months ended December 31, 2013. Accordingly, these instruments were excluded from the calculations of diluted earnings per share for the twelve months ended December 31, 2013 as their effect would have been antidilutive. |
Note_3_Inventories
Note 3 - Inventories | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Inventory Disclosure [Abstract] | ' | ||||||||
Inventory Disclosure [Text Block] | ' | ||||||||
3. Inventories | |||||||||
Inventories consist of the following at December 31 (in thousands): | |||||||||
2013 | 2012 | ||||||||
Raw materials | $ | 80 | $ | 143 | |||||
Finished goods | 37 | 39 | |||||||
$ | 117 | $ | 182 | ||||||
Note_4_Equipment_Furniture_and
Note 4 - Equipment, Furniture and Leasehold Improvements | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Property, Plant and Equipment [Abstract] | ' | ||||||||
Property, Plant and Equipment Disclosure [Text Block] | ' | ||||||||
4. Equipment, Furniture and Leasehold Improvements | |||||||||
Equipment, furniture and leasehold improvements consist of the following at December 31 (in thousands): | |||||||||
2013 | 2012 | ||||||||
Equipment | $ | 509 | $ | 488 | |||||
Office furniture and fixtures | 218 | 218 | |||||||
Leasehold improvements | 4 | 4 | |||||||
731 | 710 | ||||||||
Less accumulated depreciation and amortization | 694 | 643 | |||||||
$ | 37 | $ | 67 | ||||||
Depreciation expense was $53,000 and $43,000 for the years ended December 31, 2013 and 2012, respectively. |
Note_5_Stockholders_Equity
Note 5 - Stockholders' Equity | 12 Months Ended |
Dec. 31, 2013 | |
Stockholders' Equity Note [Abstract] | ' |
Stockholders' Equity Note Disclosure [Text Block] | ' |
5. Stockholders’ Equity | |
The Company has unlimited authorized shares of preferred stock. The Board of Directors is authorized to fix designations, relative rights, preferences and limitations in the preferred stock at the time of issuance. | |
The Company has never declared nor paid dividends on any of its capital stock and does not expect to do so in the foreseeable future. |
Note_6_Stock_Based_Compensatio
Note 6 - Stock Based Compensation | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | ||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | ' | ||||||||||||||||
6. Stock Based Compensation | |||||||||||||||||
Stock Option Plans | |||||||||||||||||
In May 2005, the Company’s shareholders approved the 2005 Stock Incentive Plan (the “2005 Plan”). Incentive stock options are issuable only to employees of the Company, while non-qualified stock options may be issued to non-employee directors, consultants and others, as well as to employees. Under the 2005 Plan, the per share exercise price of incentive stock options may not be less than the fair market value of the common stock on the date the option is granted. The 2005 Plan provides that the Company may not grant non-qualified stock options at an exercise price less than 85% of the fair market value of the Company’s common stock. | |||||||||||||||||
In June 2013, the Company’s shareholders approved the 2013 Stock Incentive Plan (the “2013 Plan”). The 2013 Plan allows for an additional 11,382,600 incentive stock options which may be issued to non-employee directors, consultants and others, as well as to employees. Under the 2013 Plan, the per share exercise price of incentive stock options may not be less than the fair market value of the common stock on the date the option is granted. The 2013 Plan provides that the Company may not grant non-qualified stock options at an exercise price less than 85% of the fair market value of the Company’s common stock. | |||||||||||||||||
The Company grants stock options to its non-employee directors. New non-employee directors receive an initial grant of an option to purchase shares of the Company’s common stock that generally vest in quarterly installments over three years. Once the initial grant has fully vested, non-employee directors (other than the Chairman of the Board) receive an annual grant of an option to purchase additional shares of the Company’s common stock that generally will vest in four equal quarterly installments. The Chairman of the Board receives an annual grant of an option to purchase at least 45,000 shares of the Company’s common stock that generally vests in four equal quarterly installments. All such options have an exercise price equal to the fair market value of the Company’s common stock on the date of grant. | |||||||||||||||||
During the year ended December 31, 2011, the Company granted options to purchase 565,000 shares of the Company’s common stock to employees with performance-based vesting, and granted options to purchase 112,500 shares of the Company’s common stock to non-employee directors which vest quarterly over one year. Management determined that as of June 30, 2012, it was probable that the performance conditions associated with the performance-based vesting were to be met in July 2012 with the closing of the second tranche convertible notes. Therefore, the related expense was recorded in the year ended December 31, 2012. | |||||||||||||||||
During the year ended December 31, 2012, the Company granted options to employees to purchase 355,000 shares of the Company’s common stock, which vest ratably over a three year period and granted options to purchase 112,500 shares of the Company’s common stock to non-employee directors that vest quarterly over one year. | |||||||||||||||||
During the year ended December 31, 2013, the Company granted options to employees to purchase 5,050,000 shares of the Company’s common stock, which vest ratably over a three year period. Certain of these grants were issued to former employees to replace 502,000 options that were cancelled during the year ended December 31, 2013. Additionally, the Company granted 589,000 options to non-employee directors that vest quarterly over a one year period. | |||||||||||||||||
During the years ended December 31, 2013 and 2012, the Company issued an aggregate of 416,668 and 2,083,338 shares of restricted common stock, respectively, to Garden State Securities, Inc. and JFS Investments, Inc. in exchange for certain investor relations and related consulting services to the Company. These shares vested immediately but are restricted from being sold for a period of six months from the date of issuance. The contract with Garden State Securities, Inc. and JFS Investments, Inc. terminated in February 2013. No further stock issuances will occur under this agreement. The issuance of these shares resulted in $56,000 and $464,000 of compensation expense in the years ended December 31, 2013 and 2012, respectively. | |||||||||||||||||
As of December 31, 2013, there were 1,317,000 shares of common stock available to be granted under the 2005 Plan, and 6,266,000 shares of common stock available to be granted under the 2013 Plan. | |||||||||||||||||
The following is a summary of option activity under all plans (in thousands, except per option data): | |||||||||||||||||
Number of Options | Weighted Average Exercise | Average Remaining Contractual Life (Years) | Aggregate Intrinsic Value | ||||||||||||||
Price | |||||||||||||||||
Outstanding, December 31, 2011 | 5,602 | $ | 0.21 | ||||||||||||||
Granted | 468 | 0.17 | |||||||||||||||
Exercised | -- | -- | |||||||||||||||
Forfeited | (3 | ) | 0.55 | ||||||||||||||
Expired | -- | -- | |||||||||||||||
Cancelled | (475 | ) | 0.24 | ||||||||||||||
Outstanding, December 31, 2012 | 5,592 | $ | 0.21 | ||||||||||||||
Granted | 5,639 | 0.09 | |||||||||||||||
Exercised | -- | -- | |||||||||||||||
Forfeited | (643 | ) | 0.1 | ||||||||||||||
Expired | -- | -- | |||||||||||||||
Cancelled | (502 | ) | 0.16 | ||||||||||||||
Outstanding, December 31, 2013 | 10,086 | $ | 0.15 | 5.53 | $ | 0 | |||||||||||
Exercisable, December 31, 2013 | 5,386 | $ | 0.19 | 2.08 | $ | 0 | |||||||||||
Stock-Based Compensation Expense | |||||||||||||||||
The Company recorded employee compensation expense of $145,000 and $80,000 for the years ended December 31, 2013 and 2012, respectively. The Company also recorded non-employee compensation expense of $56,000 and $464,000 related to the issuance of restricted common shares during the year ended December 31, 2013 and 2012, respectively. As of December 31, 2013, the Company had $333,000 of total unrecognized compensation cost related to its unvested options, which is expected to be recognized over a weighted average period of 1.79 years. | |||||||||||||||||
The weighted average fair value of options issued during the years ended December 31, 2013 and 2012 was estimated using the Black-Scholes model and was $0.09 and $0.16, respectively, per share. | |||||||||||||||||
Year Ended December 31, | |||||||||||||||||
2013 | 2012 | ||||||||||||||||
Expected life (years) | 3 | - | 6 | 5 | - | 6 | |||||||||||
Interest rate | 0.73 | - | 1.67% | 0.19 | - | 0.69% | |||||||||||
Volatility | 195.75 | - | 217.52 | 204.1 | - | 216.20% | |||||||||||
Expected dividend yield | None | None | |||||||||||||||
Value of option granted | $0.07 | - | 0.09 | $0.12 | - | 0.17 | |||||||||||
The expected life was calculated in 2013 and 2012 using the simplified method. The risk-free interest rate is based upon the U.S. Treasury yield curve in effect at the time of the grant for the expected term. Expected volatility is based exclusively on historical volatility data of the Company’s common stock. The Company estimates an expected forfeiture rate by analyzing historical forfeiture activity and considering how future forfeitures are expected to differ from historical forfeitures. The Company expects that all outstanding options at December 31, 2013 will fully vest over their requisite service period. Actual results, and future changes in estimates, may differ substantially from the Company’s current estimates. | |||||||||||||||||
Stock Purchase Plan | |||||||||||||||||
The Company has a 2000 Employee Stock Purchase Plan (the “Purchase Plan”) for all eligible employees whereby shares of the Company’s common stock may be purchased at six-month intervals at 95% of the average of the closing bid and ask prices of the Company’s common stock on the last business day of the relevant plan period. Employees may purchase shares having a value not exceeding 10% of their gross compensation during an offering period, subject to certain additional limitations. There was no activity in 2013 or 2012. At December 31, 2013, 294,461 shares were reserved for future issuance under the Purchase Plan. |
Note_7_Commitments
Note 7 - Commitments | 12 Months Ended |
Dec. 31, 2013 | |
Commitments and Contingencies Disclosure [Abstract] | ' |
Commitments and Contingencies Disclosure [Text Block] | ' |
7. Commitments | |
Lease Commitments | |
The Company leases its corporate office under an operating lease agreement that expires in August 2014. In addition to the minimum lease payments, the agreement requires payment of the Company's pro-rata share of property taxes and building operating expenses. | |
As of December 31, 2013, future minimum lease payments are estimated to be approximately $30,000 during the year ended December 31, 2014. | |
Total rent expense was $40,000 in 2013 and 2012, respectively. | |
During the year ended December 31, 2011, the Company began manufacturing its RenalGuard consoles and sterile disposable kits by two separate outside contract manufacturers. The contracts with these manufacturers do not contain minimum purchase requirements or any future commitments. Purchases are made upon request to the manufacturer. During the year ended December 31, 2013 there are still no minimum purchase requirements or any future commitments for these contracts. | |
During the year ended December 31, 2011, the Company hired a clinical research organization (“CRO”) to assist with managing its clinical trial. The contract with the CRO does not contain minimum purchase requirements or any future commitments, and payments are made once services are provided. During the year ended December 31, 2013 there are still no minimum purchase requirements or any future commitments for this contract. |
Note_8_Sale_of_Common_Stock
Note 8 - Sale of Common Stock | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Sale Of Common Stock Disclosure [Abstract] | ' | ||||||||||||
Sale Of Common Stock Disclosure [Text Block] | ' | ||||||||||||
8. Sale of Common Stock | |||||||||||||
September 2013 Financing | |||||||||||||
On September 18, 2013 the Company entered into a Securities Purchase Agreement (the “September SPA”) with a number of accredited investors, whereby the Company sold an aggregate of 29,166,668 shares of common stock at $0.06 per share (the “September Purchase Price”) and issued warrants to purchase an additional 29,166,668 shares of common stock (the “September Investor Warrants”) with gross proceeds to the Company of $1,750,000. After payment of the placement agent fees and other expenses, the Company received net proceeds of approximately $1,575,000. As part of the fee for its placement agent services, the Company also issued Palladium Capital Advisors a warrant to purchase 1,485,333 shares of common stock (together with the September Investor Warrants, the “September 2013 Warrants”) on the same terms and conditions as the investors under the September SPA. The shares of common stock sold in the offering are subject to certain piggyback registration rights as well as certain other protections, including price protection, as discussed below. | |||||||||||||
The September SPA provides that for a period of 24 months after the later of (i) September 18, 2013, or (ii) the public announcement of FDA approval for RenalGuard for sale in the United States, and so long as the investors hold the shares purchased pursuant to the September SPA, if the Company issues or sells any shares of common stock or any common stock equivalent at a price less than the September Purchase Price (a “Share Dilutive Issuance”), the Company shall issue additional shares of common stock so that total amount paid by the investor to acquire the shares, divided by the number of shares held by the investor pursuant to the September SPA, plus the additional shares issued as a result of a Share Dilutive Issuance, equals the price per share paid in the Share Dilutive Issuance. This provision also extends to any common shares that are issued pursuant to an exercise of the September 2013 Warrants. | |||||||||||||
In conjunction with the September 2013 SPA, the Company entered into a Right To Shares Agreement with one of the investors. Pursuant to this agreement, in lieu of issuing 16,666,667 of the common shares purchased by the investor, the Company shall be obligated to issue, and the investor has the right to up to 16,666,667 shares of the Company’s common stock. No additional consideration will be paid upon the issuance of the shares and the subscription amount has been paid in full by the investor and is non-refundable. The Company is obligated to deliver the shares to the investor within 3 days of the investor’s request for the share issuance. If the Company fails to deliver the shares within 3 days of the request, under certain circumstances defined in the Right To Shares Agreement, the Company may be obligated to reimburse the investor in cash for losses that the investor incurs as a result of not having access to the shares (the “Buy-In Shares”). As of December 31, 2013, the Company has reserved, but not issued 16,666,667 shares of common stock pursuant to the Right To Shares Agreement. | |||||||||||||
The September SPA also provides the investors with the option, for a period through June 18, 2014, to purchase on the same terms and with the same rights as the September 2013 SPA up to 50% of the shares of common stock purchased by the purchaser at the initial closing (“September 2013 SPA Option”). The investors would also receive a warrant for every option share exercised with the same terms as the warrants issued in the September SPA. To date, no shares have been purchased under the September 2013 SPA Option. The following is a summary of the September 2013 SPA Option for the year ended December 31, 2013: | |||||||||||||
September 2013 SPA Option | Shares | Exercise Price | |||||||||||
Beginning balance at September 18, 2013 | 14,583,334 | 0.06 | |||||||||||
Ending balance at December 31, 2013 | 14,583,334 | 0.06 | |||||||||||
The September 2013 Warrants have a term of five-years and are immediately exercisable for an aggregate 30,625,001 shares of common stock purchased at an exercise price of $0.08 per share. The exercise price of the September 2013 Warrants shall be adjusted in the event of (a) stock splits, stock dividends, combinations, reclassifications, mergers, consolidations, distributions of assets or evidence of indebtedness, sales or transfers of substantially all assets, share exchanges or similar events, and (b) dilutive issuances of (i) common stock or (ii) common stock equivalents at an effective price per share that is lower than the then exercise price. The September 2013 Warrants may be exercised on a cashless basis if at any time there is no effective registration statement within 180 days after the closing date of the private placement covering the resale of the shares of common stock underlying the September 2013 Warrants. The September 2013 Warrants contain limitations on the holder’s ability to exercise the September 2013 Warrants in the event such exercise causes the holder to beneficially own in excess of 4.99% of the Company’s issued and outstanding common stock, subject to a discretionary increase in such limitation by the holder to 9.99% upon 61 days’ notice. To date, none of the September 2013 Warrants have been exercised. The following is a summary of the September 2013 Warrants for the year ended December 31, 2013: | |||||||||||||
The September 2013 Warrants | Warrants | Exercise Price | |||||||||||
Beginning balance at September 18, 2013 | 30,625,001 | $ | 0.08 | ||||||||||
Ending balance at December 31, 2013 | 30,625,001 | $ | 0.08 | ||||||||||
In June 2008, the FASB issued ASC 815-40-15 (formerly EITF 07-5, Determining Whether an Instrument (or Embedded Feature) Is Indexed to an Entity’s Own Stock), which was effective for the Company in 2009. This issued guidance requires that derivative instruments be evaluated for certain contingencies and anti-dilution provisions that would affect their equity classification as a derivative under ASC 815, Derivatives and Hedging (ASC 815) and requires the instruments to be classified as liabilities and reported at fair value. | |||||||||||||
Upon issuance, the September 2013 Warrants and the September 2013 SPA Option were not considered indexed to the Company’s own stock and therefore are required to be accounted for as freestanding derivative instruments and classified as a liability. A Monte Carlo simulation was used to estimate the fair value of the September 2013 Warrants and September 2013 SPA Option resulting in grant date fair values of $1,807,000 and $1,166,000, respectively (see Note 10 – Fair Value Measurements). As of December 31, 2013, the September 2013 Warrants have been marked to fair value resulting in a derivative liability of $627,000. The impact to other income for the change in fair value of the September 2013 Warrants for the year ended December 31, 2013 was a gain of $1,180,000. As of December 31, 2013, the September 2013 SPA Options have been marked to fair value resulting in a derivative liability of $292,000. The impact to other income for the change in fair value of the September 2013 SPA Option for the year ended December 31, 2013 was a gain of $874,000. | |||||||||||||
The Company also assessed the provisions of the Buy-In Share feature of the Rights To Shares Agreement as an embedded derivative pursuant to ASC 815-15, Embedded Derivatives, and has concluded that the feature meets the definition of a derivative and is not clearly and closely related to the Rights To Shares equity host agreement. The Buy-In Shares feature has been bifurcated from the Rights To Shares agreement and accounted for separately. The value of this feature was nominal as of the issuance date and December 31, 2013. | |||||||||||||
Allocation of SPA Proceeds | |||||||||||||
The Company first allocated the proceeds of the September SPA to the fair value of the September 2013 Warrants and September 2013 SPA Option. When the issuance costs were considered, the aggregate fair value of the September 2013 Warrants and September 2013 SPA Option exceeded the net proceeds of the September SPA. The Company first recorded the difference as a reduction of additional paid in capital to the extent available, with the reminder accounted for as a reduction in common stock. | |||||||||||||
February 2013 Financing | |||||||||||||
On February 22, 2013, the Company entered into a Securities Purchase Agreement (the “February SPA”) with a number of accredited investors, whereby the Company sold an aggregate of 26,933,333 shares of common stock at $0.15 per share (the “February Purchase Price”) and issued warrants to purchase an additional 26,933,333 shares of common stock (the “February Investor Warrants”) with gross proceeds to the Company of $4,040,000. After payment of the placement agent fees and other expenses, the Company received net proceeds of approximately $3,504,000. As part of the fee for its placement agent services, the Company also issued Palladium Capital Advisors a warrant to purchase 1,885,333 shares of common stock (together with the Investor Warrant, the “February 2013 Warrants”) on the same terms and conditions as the investors under the February SPA. The shares of common stock sold in the offering are subject to certain piggyback registration rights as well as certain other protections, including price protection, as discussed below. | |||||||||||||
The February SPA provides that for a period of 24 months after the later of (i) February 22, 2013, or (ii) the public announcement of FDA approval for RenalGuard for sale in the United States, and so long as the investors hold the shares purchased pursuant to the February SPA; in the event that the Company issues or sells any shares of common stock or any common stock equivalent at a price less than the Purchase Price (a “Share Dilutive Issuance”), the Company shall issue additional shares of common stock so that total amount paid by the investor to acquire the shares, divided by the number of shares held by the investor pursuant to the February SPA, plus the additional shares issued as a result of a Share Dilutive Issuance, equals the price per share paid in the Share Dilutive Issuance. This provision also extends to any common shares that are issued pursuant to an exercise of the February 2013 Warrants. As required under the terms of the February SPA, in connection with the September SPA, the Company issued to the investors in the February 2013 Financing an additional 40,400,001 shares of Common Stock due to these anti-dilutive provisions being triggered by the lower purchase price for shares issued in the September SPA. | |||||||||||||
In conjunction with the February SPA, the Company entered into a Right To Shares Agreement with one of the investors. Pursuant to this agreement, in lieu of issuing 7,000,000 of the common shares purchased by the investor, the Company shall be obligated to issue, and the investor has the right to up to 7,000,000 shares of the Company’s common stock. No additional consideration will be paid upon the issuance of the shares and the subscription amount has been paid in full by the investor and is non-refundable. The Company is obligated to deliver the shares to the investor within 3 days of the investor’s request for the share issuance. If the Company fails to deliver the shares within 3 days of the request, under certain circumstances defined in the Right To Shares Agreement, the Company may be obligated to reimburse the investor in cash for losses that the investor incurs as a result of not having access to the shares (the “Buy-In Shares”). As of December 31, 2013, the Company has reserved, but not issued 19,000,000 shares of common stock pursuant to the Right To Shares Agreement, as adjusted for the anti-dilution issuance described above. | |||||||||||||
The February SPA also provided the investors with the option, for a period through November 21, 2013, to purchase on the same terms and with the same rights as the February 2013 SPA up to 50% of the shares of common stock purchased by the purchaser at the initial closing (“February 2013 SPA Option”). The investors would also receive a warrant for every option share exercised with the same terms as the warrant issued in the February SPA. No shares were purchased under the February 2013 SPA Option prior to the expiration date. The following is a summary of the February 2013 SPA Option for the year ended December 31, 2013: | |||||||||||||
February 2013 SPA Option | Shares | Exercise Price | |||||||||||
Beginning balance at February 22, 2013 | 13,466,667 | 0.15 | |||||||||||
Less: Expired | (13,466,667 | ) | 0.15 | ||||||||||
Ending balance at December 31, 2013 | -- | -- | |||||||||||
The February 2013 Warrants have a term of five-years and were immediately exercisable for an aggregate 28,818,666 shares of common stock purchased at an exercise price of $0.20 per share. The exercise price of the 2013 Warrants shall be adjusted in the event of (a) stock splits, stock dividends, combinations, reclassifications, mergers, consolidations, distributions of assets or evidence of indebtedness, sales or transfers of substantially all assets, share exchanges or similar events, and (b) dilutive issuances of (i) common stock or (ii) common stock equivalents at an effective price per share that is lower than the then exercise price. Due to the September SPA, certain anti-dilution rights were triggered, resulting in the issuance of an additional 43,228,001 warrants with an exercise price of $0.08. All previously issued warrants related to the February 2013 financing have been repriced to $0.08. The February 2013 Warrants may be exercised on a cashless basis if at any time there is no effective registration statement within 180 days after the closing date of the private placement covering the resale of the shares of common stock underlying the February 2013 Warrants. The February 2013 Warrants contain limitations on the holder’s ability to exercise the February 2013 Warrant in the event such exercise causes the holder to beneficially own in excess of 4.99% of the Company’s issued and outstanding common stock, subject to a discretionary increase in such limitation by the holder to 9.99% upon 61 days’ notice. The following is a summary of the February 2013 Warrants for the year ended December 31, 2013: | |||||||||||||
The February 2013 Warrants | Warrants | Exercise Price | |||||||||||
Beginning balance at February 22, 2013 | 28,818,666 | $ | 0.2 | ||||||||||
Add: Anti-dilution adjustment | 43,228,001 | 0.08 | |||||||||||
Ending balance at December 31, 2013 | 72,046,667 | $ | 0.08 | ||||||||||
In June 2008, the FASB issued ASC 815-40-15 (formerly EITF 07-5, Determining Whether an Instrument (or Embedded Feature) Is Indexed to an Entity’s Own Stock), which was effective for the Company in 2009. This issued guidance requires that derivative instruments be evaluated for certain contingencies and anti-dilution provisions that would affect their equity classification as a derivative under ASC 815, Derivatives and Hedging (ASC 815) and requires the instruments to be classified as liabilities and reported at fair value. | |||||||||||||
Upon issuance, the February 2013 Warrants and February 2013 SPA Option were not considered indexed to the Company’s own stock and therefore are required to be accounted for as freestanding derivative instruments and classified as a liability. A Monte Carlo simulation was used to estimate the fair value of the February 2013 Warrants and February 2013 SPA Option resulting in grant date fair values of $2,759,000 and $1,211,000, respectively (see Note 10 – Fair Value Measurements). As of December 31, 2013, the February 2013 Warrants have been marked to fair value resulting in a derivative liability of $1,441,000. The impact to other income for the change in fair value of the February 2013 Warrants for the year ended December 31, 2013 was a gain of $1,318,000. As of December 31, 2013, the February 2013 SPA Option has expired and has a fair value of $0. The impact to other income for the change in fair value of the February 2013 SPA Option for the year ended December 31, 2013 was a gain of $1,211,000. | |||||||||||||
The Company also assessed the provisions of the Buy-In Share feature of the Rights To Shares Agreement as an embedded derivative pursuant to ASC 815-15, Embedded Derivatives, and has concluded that the feature meets the definition of a derivative and is not clearly and closely related to the Rights To Shares equity host agreement. The Buy-In Shares feature has been bifurcated from the Rights To Shares agreement and accounted for separately. The value of this feature was nominal as of the issuance date and December 31, 2013. | |||||||||||||
Allocation of SPA Proceeds | |||||||||||||
The Company first allocated the proceeds of the February SPA to the fair value of the February 2013 Warrants and February 2013 SPA Option. When the issuance costs were considered, the aggregate fair value of the February 2013 Warrants and February 2013 SPA Option exceeded exceeded the net proceeds of the February SPA. The Company recorded the difference as a reduction of additional paid in capital. | |||||||||||||
The SPA requires the Company to use $1,000,000 of the proceeds received from the February SPA for investor relations. The Company engaged an investor relations firm and made an initial payment of $500,000 on the date of the February SPA closing. During the quarters ended September 30, 2013 and December 31, 2013 the Company paid an additional $250,000 and $220,000, respectively. The Company has recorded the remaining $30,000 cash held in escrow as restricted cash on the Consolidated Balance Sheet. The Company is amortizing the investor relations payments over the one-year estimated period of performance for the investor relations services, resulting in the recording of $970,000 in expense for the year ended December 31, 2013. |
Note_9_Convertible_Notes_and_W
Note 9 - Convertible Notes and Warrant Liabilities | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Convertible Notes Warrant Liabilities And Fair Value Disclosure [Abstract] | ' | ||||||||
Convertible Notes Warrant Liabilities And Fair Value Disclosure [Text Block] | ' | ||||||||
9. Convertible Notes and Warrant Liabilities | |||||||||
On February 22, 2011 (the “Original Issue Date”), the Company entered into a Securities Purchase Agreement (“Purchase Agreement”) and a 5% Senior Secured Convertible Debenture Agreement (the “Note Agreement”) with GCP IV LLC (the “Investors” or “Holders”) pursuant to which the Company agreed to issue and sell in a private placement to the Investors an aggregate principal amount of $4,000,000 of convertible notes due February 22, 2014 (the “2011 Convertible Notes”) and warrants to purchase 40,000,000 shares of common stock at $0.15 per share (the “2011 Warrants”). Under the terms of the Purchase Agreement, the Company had the opportunity to raise up to an additional $2,000,000 from the Holders in two separate $1,000,000 tranches, based upon meeting certain operational milestones within certain periods of time. The deadline for achieving the operational milestones for the first $1,000,000 tranche expired in February 2012 without the Company achieving such milestones; however, the Investors agreed to waive both the deadline and the achievement of these milestones as a condition for the investment of the first additional $1,000,000 tranche (the “2012 Convertible Notes”) and issuance of warrants to purchase up to 10,000,000 shares of common stock at $0.15 per share and warrants to purchase up to 10,000,000 shares of common stock at $0.25 per share (the “2012 Warrants”) which was completed on July 2, 2012. On January 16, 2013 the Company entered into an amendment and waiver to the Purchase Agreement to provide for the issuance of an additional $250,000 of 5% Senior Secured Convertible Debentures (the “Third Tranche Convertible Notes”) maturing on January 16, 2016 and warrants exercisable for a period of five years to purchase up to 2,500,000 shares of common stock at an exercise price of $0.15 per share (the “Third Tranche Warrants”). | |||||||||
The convertible notes and warrants and the Purchase Agreement covering both are secured by a security interest in all assets of the Company and its subsidiaries and all such obligations are guaranteed jointly and severally by the Company's subsidiaries. The convertible notes also contain non-financial covenants which limit the Company and its subsidiaries from incurring subsequent indebtedness, incurring liens, and amending organizational documents, repurchasing or repaying other debt, paying cash dividends and entering into affiliate transactions. | |||||||||
On February 22, 2013, simultaneous with the closing of the February SPA, the Company entered into an Amendment and Waiver Agreement (the “February Amendment and Waiver Agreement”) with the Holder under which the Holder agreed to (a) increase the number of shares exercisable under the 2011 and 2012 Warrants from an aggregate 50,000,000 shares to 81,578,946 shares and to modify both the exercise price and the Volume Weighted Average Price (“VWAP price”) of the 2011 and 2012 Warrants to $0.098 and $0.155, respectively, (b) return to the Company for forfeiture the remaining warrants previously issued to purchase an aggregate 12,500,000 shares of common stock, (c) extend the due date for the 2012 Convertible Notes from February 22, 2014 to June 30, 2015, (d) until February 22, 2014, without the prior written consent from the majority of the investors under the February SPA, forbear from declaring any Event of Default (as defined in the original debenture), and (e) relinquish its right to purchase up to an additional $750,000 in debentures under the terms of the original Purchase Agreement. | |||||||||
On September 18, 2013, simultaneous with the closing of the September SPA, the company entered into an Amendment and Waiver Agreement (“the September Amendment and Waiver Agreement”) under which the holders of the term debentures have agreed to (a) extend the payment due date for the interest on the debentures to June 30, 2015, modify the conversion price for the debentures to $0.06, and set the VWAP Price of the warrants originally issued in 2011 and 2012 to $0.3705. | |||||||||
As of December 31, 2013 and 2012, the maturity date principal of convertible debt outstanding was $4,494,355 and $5,000,000 respectively, and is due in June 2015. The Company has also accrued approximately $144,000 and $8,000 of interest payable to the convertible note holders at December 31, 2013 and 2012. The terms of the individual tranches of convertible notes and warrants issued pursuant to this agreement and the impact of the Amendment and Waiver Agreement are discussed below. | |||||||||
2011 Convertible Notes | |||||||||
The September Amendment and Waiver Agreement extends the payment due date for the interest on the debentures to June 30, 2015. Interest is calculated on the basis of a 360-day year and accrues daily commencing on the Original Issue Date until payment in full of the outstanding principal, together with all accrued and unpaid interest, liquidated damages and other amounts that may become due in connection with the 2011 Convertible Notes, has been made. | |||||||||
The Holders may convert the outstanding principal amount of the Convertible Notes into shares of the Company’s common stock at the conversion price of $0.06 per share as per the September 2013 Amendment and Waiver Agreement. The conversion price is subject to adjustment in the event of (a) stock splits, stock dividends, combinations, reclassifications, mergers, consolidations, distributions of assets or evidence of indebtedness, sales or transfers of substantially all assets, share exchanges or similar events, and (b) certain dilutive issuances of (i) common stock or (ii) common stock equivalents at an effective price per share that is lower than the then conversion price. During the year ended December 31, 2013, holders converted $755,645 of the 2011 convertible notes into 8,304,837 shares of the Company’s common stock. | |||||||||
At any time after February 2012, and upon entering into a change of control transaction or Fundamental Transaction, as defined in the Debenture Agreement, the Company may deliver a notice to the Holders of its irrevocable election to redeem all of the then outstanding principal of the 2011 Convertible Notes for cash in an amount equal to the sum of (a) the greater of (i) the outstanding amount of the 2011 Convertible Notes divided by the conversion price on the date of the mandatory default amount, as defined in the Purchase Agreement, is either (A) demanded or (B) paid in full, whichever has a lower conversion price, multiplied by the VWAP of the date of the mandatory default amount is either (x) demanded or otherwise due or (y) paid in full, whichever has higher VWAP, plus all accrued and unpaid interest, or (ii) 130% of the outstanding principal amount of the Notes, plus 100% of accrued and unpaid interest, and (b) all other amounts, costs, expenses and liquidated damages due under the various agreements covering issuance of the Convertible Notes. Such amount would include the liquidated damages due under the default provision of the Purchase Agreement. | |||||||||
Due to the February 2013 Amendment and Waiver Agreement, the Company is required to repay, in cash, any outstanding principal amount of the 2011 Convertible Notes on June 30, 2015 and is not permitted, except upon entering into a change of control transaction or fundamental transaction as noted above, to prepay any portion of the principal amount without prior written consent of the Holders. | |||||||||
2011 Warrants | |||||||||
On February 22, 2011, in connection with the issuance of the 2011 Convertible Notes, the Company issued warrants for the purchase of up to 40,000,000 shares of common stock at the exercise price of $0.15 per share and with an expiration date of February 22, 2016 (the “2011 Warrants”). On February 22, 2013, as per the terms of the February Amendment and Waiver Agreement, the Company canceled the original warrants and re-issued new warrants for the purchase of up to 65,263,156 shares of common stock at an exercise price of $0.098 per share. | |||||||||
The 2011 Warrants are exercisable by a cashless exercise to purchase shares of the Company’s common stock. The Exercise Price of the 2011 Warrants shall be adjusted in the event of (a) stock splits, stock dividends, combinations, reclassifications, mergers, consolidations, distributions of assets or evidence of indebtedness, sales or transfers of substantially all assets, share exchanges or similar events, and (b) certain dilutive issuances of (i) common stock or (ii) common stock equivalents at an effective price per share that is lower than the then Exercise Price. | |||||||||
In connection with a Fundamental Transaction, as defined in the Purchase Agreement, that is an all-cash transaction, the Company shall have the right to purchase from the Holders all, but not less than all, of the unexercised portion of the Warrants by paying in cash to the Holders an amount equal to 30% of the Exercise Price multiplied by the number of shares of Common Stock for which the Warrants are exercisable immediately prior to such change of control transaction. | |||||||||
During the year ended December 31, 2013, 47,322,376 of the 2011 Warrants were exercised pursuant to the cashless exercise provisions resulting in the issuance of 19,608,926 shares of common stock. | |||||||||
The following is a summary of the 2011 Warrants outstanding for the year ended December 31, 2013: | |||||||||
2011 Warrants | Exercise Price | ||||||||
Beginning balance – December 31, 2012 | 40,000,000 | $ | 0.15 | ||||||
Less: Canceled | (40,000,000 | ) | 0.15 | ||||||
Add: Issued | 65,263,156 | 0.098 | |||||||
Less: Exercised | (47,322,376 | ) | 0.098 | ||||||
Ending Balance – December 31, 2013 | 17,940,780 | $ | 0.098 | ||||||
2012 Convertible Notes | |||||||||
The 2012 Convertible Notes contain the same terms as the 2011 Convertible Notes and require payment of interest at the rate of 5% per annum, payable upon the maturation of the debenture and mature on July 2, 2015. The 2012 Convertible Notes provide the Investors the option at any time prior to the repayment of the notes to convert any portion of the balance into fully-paid and non-assessable restricted shares of common stock of the Company at a conversion price of $0.06 per share as per the September 2013 Amendment and Waiver Agreement. The conversion price is subject to adjustment in the event of (a) stock splits, stock dividends, combinations, reclassifications, mergers, consolidations, distributions of assets or evidence of indebtedness, sales or transfers of substantially all assets, share exchanges or similar events, and (b) certain dilutive issuances of (i) common stock or (ii) common stock equivalents at an effective price per share that is lower than the then conversion price. | |||||||||
The 2012 Convertible Notes may be redeemed at the option of the Company on the same terms as the 2011 Convertible Notes only in connection with a change of control or other fundamental transaction of the Company and subject to the satisfaction of other conditions including, without limitation, that the shares issuable upon conversion of the debentures are freely tradable and that there is no event of default. | |||||||||
2012 Warrants | |||||||||
On July 2, 2012, in conjunction with the issuance of the 2012 Convertible Notes, the Company issued warrants for the purchase of up to 20,000,000 shares of common stock with five year terms. The warrants were issued to allow the Investors to purchase up to 10,000,000 shares of common stock at an initial purchase price of $0.15 per share and the remaining 10,000,000 shares of common stock at an initial purchase price of $0.25 per share. The terms of the 2012 Warrants are identical to those of the 2011 Warrants, except that the 2012 Warrants are exercisable for a period of five years from the date of issuance and contain different exercise prices. On February 22, 2013, as per the terms of the February Amendment and Waiver Agreement, the Company canceled the original warrants and re-issued new warrants for the purchase of up to 16,315,790 shares of common stock at an initial purchase price of $0.098. During the year ended December 31, 2013, 9,250,535 of the 2012 Warrants were exercised pursuant to the cashless exercise provisions resulting in the issuance of 3,401,809 shares of common stock. | |||||||||
The following is a summary of the 2012 Warrants outstanding at December 31, 2013: | |||||||||
$0.15 Warrants | Warrants | Exercise Price | |||||||
Beginning balance at December 31, 2012 | 10,000,000 | $ | 0.15 | ||||||
Less: Canceled | (10,000,000 | ) | 0.15 | ||||||
Add: Issued | 16,315,790 | 0.098 | |||||||
Less: Exercised | (9,250,535 | ) | 0.098 | ||||||
Ending balance at December 31, 2013 | 7,065,255 | $ | 0.098 | ||||||
$0.25 Warrants | Warrants | Exercise Price | |||||||
Beginning balance at December 31, 2012 | 10,000,000 | $ | 0.25 | ||||||
Less: Canceled | (10,000,000 | ) | 0.25 | ||||||
Ending balance at December 31, 2013 | — | $ | — | ||||||
Third Tranche Convertible Notes | |||||||||
The Third Tranche Convertible Notes, which were issued on January 16, 2013, contain the same terms as the 2011 and 2012 Convertible Notes and require payment of interest at the rate of 5% per annum, payable upon the maturation of the debenture on January 16, 2016. The Third Tranche Convertible Notes provide the Investors the option at any time prior to the repayment of the notes to convert any portion of the outstanding Third Tranche balance into fully-paid and non-assessable restricted shares of common stock of the Company at a conversion price of $0.06 per share. The conversion price is subject to adjustment in the event of (a) stock splits, stock dividends, combinations, reclassifications, mergers, consolidations, distributions of assets or evidence of indebtedness, sales or transfers of substantially all assets, share exchanges or similar events, and (b) certain dilutive issuances of (i) common stock or (ii) common stock equivalents at an effective price per share that is lower than the then conversion price. | |||||||||
The Third Tranche Convertible Notes may be redeemed at the option of the Company on the same terms as the 2011 and 2012 Convertible Notes only in connection with a change of control or other fundamental transaction of the Company and subject to the satisfaction of other conditions including, without limitation, that the shares issuable upon conversion of the debentures are freely tradable and that there is no event of default. | |||||||||
Third Tranche Warrants | |||||||||
On January 16, 2013, in connection with the Third Tranche Convertible Notes, the Company issued warrants for the purchase of up to 2,500,000 shares of common stock with five year terms. The warrants were issued to allow the Investors to purchase up to 2,500,000 shares of common stock at an initial purchase price of $0.15 per share. On February 22, 2013, per the terms of the Amendment and Waiver Agreement, the Third Tranche Warrants were canceled. The following is a summary of the 2012 Warrants outstanding for the year ended December 31, 2013: | |||||||||
Third Tranche Warrants | Warrants | Exercise Price | |||||||
Beginning balance at December 31, 2012 | — | $ | — | ||||||
Add: Issued | 2,500,000 | 0.15 | |||||||
Less: Canceled | (2,500,000 | ) | 0.15 | ||||||
Ending balance at December 31, 2013 | — | $ | — | ||||||
Accounting for the 2011 Convertible Notes, 2012 Convertible Notes, Third Tranche Convertible Notes, 2011 Warrants, 2012 Warrants, and Third Tranche Warrants | |||||||||
2011 Convertible Notes, 2012 Convertible Notes, and Third Tranche Convertible Notes | |||||||||
The Company has determined that the 2011 Convertible Notes, 2012 Convertible Notes and Third Tranche Convertible Notes constitute hybrid instruments that have the characteristics of a debt host contract containing several embedded derivative features that would require bifurcation and separate accounting as a derivative instrument pursuant to the provisions of ASC 815. The Company has identified all of the derivatives associated with each convertible note. As permitted under ASC 825-10-10 – Financial Instruments, as it relates to the fair value option, the Company has elected, as of the original issuance date of each convertible note, to measure the 2011 Convertible Notes, 2012 Convertible Notes, and the Third Tranche Convertible Notes in their entirety at fair value with changes in fair value recognized in the Consolidated Statements of Operations as either a gain or loss until the notes are settled. As such, the Company has appropriately valued the embedded derivatives as a single hybrid contract together with the convertible notes. This election was made by the Company after determining the aggregate fair value of the convertible notes to be more meaningful in the context of the Company’s financial statements than if separate fair values were assigned to each of the multiple embedded instruments contained in the convertible notes. | |||||||||
Pursuant to the guidance of ASC 815-40-15 (formerly EITF 07-5, Determining Whether an Instrument (or Embedded Feature) Is Indexed to an Entity’s Own Stock), the 2011 Warrants, 2012 Warrants and Third Tranche Warrants were not considered indexed to the Company’s own stock. As a result these instruments have been account for as freestanding derivative instruments and classified as a liability recorded at fair value at each reporting period. | |||||||||
The February 2013 and September 2013 Amendment and Waiver Agreements triggered greater than 10% changes in the present value of cash flows of the convertible notes and associated warrants. As a result, the Company has treated the Amendment and Waiver Agreements as debt extinguishments where the carrying value of the convertible notes and warrants prior to the amendments were removed from the Company’s books and the fair value of the amended convertible notes and warrants was recorded. The resulting difference in value was recorded as an aggregate $3,274,000 loss on the extinguishment of debt during the year ended December 31, 2013. The impact to each of the convertible notes and associated warrants is discussed below. | |||||||||
2011 Convertible Notes and 2011 Warrants | |||||||||
Upon issuance of the 2011 Convertible Notes, the Company allocated the proceeds received to the 2011 Convertible Notes and 2011 Warrants on a relative fair value basis. As a result of such allocation, the Company determined the initial carrying value of the Notes to be $3,208,000. The debt discount in the amount of $792,000 (resulting from the allocation of proceeds) was being amortized to interest expense using the effective interest method over the expected term of the 2011 Convertible Notes. The carrying value of the 2011 Convertible Notes has been adjusted to fair value each reporting period. During the year ended December 31, 2012, the Company amortized $265,000 of the debt discount to interest expense and recorded a $918,000 loss in the adjustment to the fair value of the notes as a component of other income (expense). | |||||||||
The Company has accounted for the February 2013 Amendment and Waiver Agreement as an extinguishment of debt at February 22, 2013. The fair value of the 2011 Convertible Notes prior to the extinguishment was replaced by the fair value of the amended 2011 Convertible Notes, resulting in a fair value of $6,070,000 as of February 22, 2013. In connection with the extinguishment of the debt as of February 22, 2013, the Company had amortized $38,000 of the debt discount and wrote off the remaining debt discount of $265,000. | |||||||||
The Company has also accounted for the September 2013 Amendment and Waiver Agreement as an extinguishment of debt at September 18, 2013. The fair value of the 2011 Convertible Notes prior to the extinguishment was replaced by the fair value of the amended 2011 Convertible Notes, resulting in a fair value of $4,920,000 as of September 18, 2013. As of December 31, 2013, the 2011 Convertible Notes have been marked to fair value resulting in a derivative liability of $3,290,000. The impact to other income (expense) for the loss on extinguishment and adjustments to fair value for the year ended December 31, 2013 was a loss of $1,362,000 and a gain of $3,810,000, respectively. | |||||||||
During the year ended December 31, 2013, certain holders of the 2011 Convertible Notes converted approximately $756,000 of convertible note principal into 8,305,000 shares of common stock. The conversions resulted in the reclassification of $810,000 in conversion date fair value of the shares as a component of the common stock balance in stockholders’ equity within the balance sheet. | |||||||||
As a result of the February 2013 Amendment and Waiver Agreement the carrying value of the 2011 Warrants was adjusted at February 22, 2013 to reflect the revised terms. As of December 31, 2013, the 2011 Warrants have been marked to fair value resulting in a derivative liability of $179,000. The impact to other income (expense) for the loss on extinguishment and adjustments to fair value for the year ended December 31, 2013 was a loss of $1,916,000 and a gain of $1,320,000, respectively. The impact to other income (expense) for adjustments to fair value for the year ended December 31, 2012 was expense of $918,000. | |||||||||
During the year ended December 31, 2013, certain holders of the 2011 Warrants exercised warrants to purchase 47,322,376 shares of common stock pursuant to the cashless exercise provisions resulting in the issuance of 19,609,000, shares of the Company’s common stock. The cashless exercise resulted in the reclassification of $2,417,000 in the exercise date fair value of the 2011 Warrants exercised as a component of the common stock balance within stockholders’ equity in the balance sheet. | |||||||||
2012 Convertible Notes and 2012 Warrants | |||||||||
Upon issuance of the 2012 Convertible Notes, the Company allocated the proceeds received to the Second Tranche Convertible Notes and 2012 Warrants on a relative fair value basis. As a result of such allocation, the Company determined the initial carrying value of the Second Tranche Convertible Notes to be $417,000. The debt discount in the amount of $583,000 (resulting from the allocation of proceeds) was being amortized to interest expense using the effective interest method over the expected term of the 2012 Convertible Notes. The carrying value of the 2012 Convertible Notes has been adjusted to fair value each reporting period. During the year ended December 31, 2012 the Company amortized $66,000 of the debt discount to interest expense and recorded a loss of $1,105,000 in fair value adjustment as a component of other income (expense). | |||||||||
The Company has accounted for the February 2013 Amendment and Waiver Agreement as an extinguishment of debt at February 22, 2013. The fair value of the 2012 Convertible Notes prior to the extinguishment was replaced by the fair value of the amended 2012 Convertible Notes, resulting in a fair value of $1,516,000 as of February 22, 2013. In connection with the extinguishment of debt as of February 22, 2013, the Company had amortized $55,000 of the debt discount and wrote off the remaining debt discount of $462,000. | |||||||||
The Company has also accounted for the September 2013 Amendment and Waiver Agreement as an extinguishment of debt at September 18, 2013. The fair value of the 2012 Convertible Notes prior to the extinguishment was replaced by the fair value of the amended 2012 Convertible Notes, resulting in a fair value of $1,390,000 as of September 18, 2013. As of December 31, 2013, the 2012 Convertible Notes have been marked to fair value resulting in a derivative liability of $1,010,000. The impact to other income (expense) for the loss on extinguishment and adjustments to fair value for the year ended December 31, 2013 was a loss of $355,000 and a gain of $988,000, respectively. | |||||||||
As a result of the February 2013 Amendment and Waiver Agreement the carrying value of the 2012 Warrants was adjusted at February 22, 2013 to reflect the revised terms. As of December 31, 2013, the 2012 Warrants have been marked to fair value resulting in a derivative liability of $141,000. The impact to other income (expense) for the loss on extinguishment and adjustments to fair value for the year ended December 31, 2013 was a gain of $168,000 and a gain of $1,253,000, respectively. The impact to other income (expense) for adjustments to fair value for the year ended December 31, 2012 was expense of $1,100,000. | |||||||||
During the year ended December 31, 2013, certain holders of the 2012 Warrants exercised warrants to purchase 9,250,535 shares of common stock pursuant to the cashless exercise provisions resulting in the issuance of 3,401,809 shares of the Company’s common stock. The cashless exercise resulted in the reclassification of $238,000 in the exercise date fair value of the 2012 Warrants exercised as a component of common stock in stockholders’ equity. | |||||||||
Third Tranche Convertible Notes and Third Tranche Warrants | |||||||||
Upon issuance of the Third Tranche Convertible Notes in January 2013, the Company allocated the proceeds received to the Third Tranche Convertible Notes and Third Tranche Warrants on a relative fair value basis. As a result of such allocation, the Company determined the initial carrying value of the Third Tranche Convertible Notes to be $142,000. The Third Tranche Convertible Notes were immediately marked to fair value, resulting in a derivative liability in the amount of $394,000. The debt discount in the amount of $108,000 (resulting from the allocation of proceeds) was being amortized to interest expense using the effective interest method over the expected term of the Convertible Notes. | |||||||||
The Company has accounted for the February 2013 Amendment and Waiver Agreement as an extinguishment of debt at February 22, 2013. The fair value of the Third Tranche Convertible Notes prior to the extinguishment was replaced by the fair value of the amended Third Tranche Convertible Notes, resulting in a fair value of $386,000 as of February 22, 2013. In connection with the extinguishment of debt as of February 22, 2013, the Company had amortized $2,000 of the debt discount and wrote off the remaining debt discount of $106,000. | |||||||||
The Company has accounted for the September 2013 Amendment and Waiver Agreement as an extinguishment of debt at September 18, 2013. The fair value of the Third Tranche Convertible Notes prior to the extinguishment was replaced by the fair value of the amended Third Tranche Convertible Notes, resulting in a fair value of $361,000 as of September 18, 2013. As of December 31, 2013, the Third Tranche Convertible Notes have been marked to fair value resulting in a derivative liability of $237,000. The impact to other income (expense) for the loss on extinguishment and adjustments to fair value was a loss of $109,000 and a gain of $16,000 for the year ended December 31, 2013, respectively. | |||||||||
Upon issuance of the Third Tranche Warrants, the Company allocated $108,000 of the initial proceeds to the Third Tranche Warrants and immediately marked them to fair value resulting in a derivative liability of $300,000. As of December 31, 2013, the Third Tranche Warrants have been canceled as per the terms of the February 2013 Amendment and Waiver Agreement. The impact to other income (expense) for the extinguishment and adjustments to fair value was a gain of $300,000 and a loss of $192,000 for the year ended December 31, 2013, respectively. | |||||||||
Financing Costs | |||||||||
The Company incurred financing costs associated with obtaining the July 2, 2012 financing which totaled $80,000 and were recorded in other income (expense) in the year ended December 31, 2012. |
Note_10_Fair_Value_Measurement
Note 10 - Fair Value Measurements | 12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||||||||||||||||||||||||||||||
Fair Value Disclosures [Text Block] | ' | ||||||||||||||||||||||||||||||||||||||||||||
10. Fair Value Measurements | |||||||||||||||||||||||||||||||||||||||||||||
The following summarizes the Company’s assets and liabilities measured at fair value as of December 31, 2012: | |||||||||||||||||||||||||||||||||||||||||||||
Fair Value Measurements at Reporting Date Using: | |||||||||||||||||||||||||||||||||||||||||||||
Description | Balance as of December 31, 2012 | Quoted Prices in Active Markets for Identical Assets (Level 1) | Significant Other Observable Inputs(Level 2) | Significant Unobservable Inputs (Level 3) | |||||||||||||||||||||||||||||||||||||||||
Liabilities | |||||||||||||||||||||||||||||||||||||||||||||
Convertible notes | $ | 8,098,000 | $ | — | $ | — | $ | 8,098,000 | |||||||||||||||||||||||||||||||||||||
Warrant liabilities | $ | 3,800,000 | $ | — | $ | — | $ | 3,800,000 | |||||||||||||||||||||||||||||||||||||
Total Liabilities | $ | 11,898,000 | $ | — | $ | — | $ | 11,898,000 | |||||||||||||||||||||||||||||||||||||
The following summarizes the Company’s assets and liabilities measured at fair value as of December 31, 2013: | |||||||||||||||||||||||||||||||||||||||||||||
Fair Value Measurements at Reporting Date Using: | |||||||||||||||||||||||||||||||||||||||||||||
Description | Balance as of December 31, 2013 | Quoted Prices in Active Markets for Identical Assets (Level 1) | Significant Other Observable Inputs(Level 2) | Significant Unobservable Inputs(Level 3) | |||||||||||||||||||||||||||||||||||||||||
Liabilities | |||||||||||||||||||||||||||||||||||||||||||||
Convertible notes | $ | 4,537,000 | $ | — | $ | — | $ | 4,537,000 | |||||||||||||||||||||||||||||||||||||
Warrant and option liabilities | $ | 2,680,000 | $ | — | $ | — | $ | 2,680,000 | |||||||||||||||||||||||||||||||||||||
Total Liabilities | $ | 7,217,000 | $ | — | $ | — | $ | 7,217,000 | |||||||||||||||||||||||||||||||||||||
A summary of changes in the 2011 Convertible Notes, 2012 Convertible Notes, Third Tranche Convertible Notes, 2011 Warrants, 2012 Warrants, Third Tranche Warrants, and the February 2013 Warrants, February 2013 SPA Options, September 2013 Warrants, and September 2013 SPA Options as of December 31, 2012, February 22, 2013, September 18, 2013 and December 31, 2013 is as follows: | |||||||||||||||||||||||||||||||||||||||||||||
Fair Value | Fair Value of 2011 Warrant Liabilities | Fair Value of 2012 Convertible Notes | Fair Value of 2012 Warrant Liabilities | Fair Value of Third Tranche Convertible Notes | Fair Value of Third Tranche Warrant Liabilities | February | February | September 2013 Warrants | September 2013 SPA Options | Total | |||||||||||||||||||||||||||||||||||
of 2011 | 2013 Warrants | 2013 SPA Option | |||||||||||||||||||||||||||||||||||||||||||
Convertible | |||||||||||||||||||||||||||||||||||||||||||||
Notes | |||||||||||||||||||||||||||||||||||||||||||||
Balance December 31, 2011 | $ | 5,327,000 | $ | 1,600,000 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 6,927,000 | |||||||||||||||||||||||
Amortization of debt discount | $ | 265,000 | $ | — | $ | 66,000 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 331,000 | |||||||||||||||||||||||
Allocation of initial proceeds | $ | — | $ | — | $ | 417,000 | $ | 583,000 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 1,000,000 | |||||||||||||||||||||||
Fair value adjustment | $ | 918,000 | $ | 400,000 | $ | 1,105,000 | $ | 1,217,000 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 3,640,000 | |||||||||||||||||||||||
Balance December 31, 2012 | $ | 6,510,000 | $ | 2,000,000 | $ | 1,588,000 | $ | 1,800,000 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 11,898,000 | |||||||||||||||||||||||
Allocation of initial proceeds | $ | — | $ | — | $ | — | $ | — | $ | 142,000 | $ | 108,000 | $ | — | $ | — | $ | — | $ | — | $ | 250,000 | |||||||||||||||||||||||
Initial fair value adjustment | $ | — | $ | — | $ | — | $ | — | $ | 252,000 | $ | 192,000 | $ | — | $ | — | $ | — | $ | — | $ | 444,000 | |||||||||||||||||||||||
16-Jan-13 | $ | 6,510,000 | $ | 2,000,000 | $ | 1,588,000 | $ | 1,800,000 | $ | 394,000 | $ | 300,000 | $ | — | $ | — | $ | — | $ | — | $ | 12,592,000 | |||||||||||||||||||||||
Amortization of debt discount | $ | 38,000 | $ | — | $ | 55,000 | $ | — | $ | 2,000 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 95,000 | |||||||||||||||||||||||
Fair value adjustment | $ | (370,000 | ) | $ | — | $ | (72,000 | ) | $ | — | $ | (8,000 | ) | $ | — | $ | — | $ | — | $ | — | $ | — | $ | (450,000 | ) | |||||||||||||||||||
Carrying value of old debt at modification | $ | (6,178,000 | ) | $ | — | $ | (1,571,000 | ) | $ | — | $ | (388,000 | ) | $ | — | $ | — | $ | — | $ | — | $ | — | $ | (8,137,000 | ) | |||||||||||||||||||
Fair value of new debt at modification | $ | 6,070,000 | $ | — | $ | 1,516,000 | $ | — | $ | 386,000 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 7,972,000 | |||||||||||||||||||||||
Modification of warrants | $ | — | $ | 1,916,000 | $ | — | $ | 632,000 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 2,548,000 | |||||||||||||||||||||||
Cancellation/retirement of warrants | $ | — | $ | — | $ | — | $ | (800,000 | ) | $ | — | $ | (300,000 | ) | $ | — | $ | — | $ | — | $ | — | $ | (1,100,000 | ) | ||||||||||||||||||||
Fair value of instruments at issuance | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 2,759,000 | $ | 1,211,000 | $ | — | $ | — | $ | 3,970,000 | |||||||||||||||||||||||
22-Feb-13 | $ | 6,070,000 | $ | 3,916,000 | $ | 1,516,000 | $ | 1,632,000 | $ | 386,000 | $ | — | $ | 2,759,000 | $ | 1,211,000 | $ | — | $ | — | $ | 17,490,000 | |||||||||||||||||||||||
Fair value adjustment | $ | (1,932,000 | ) | $ | (716,000 | ) | $ | (536,000 | ) | $ | (970,000 | ) | $ | (136,000 | ) | $ | — | $ | (742,000 | ) | $ | (807,000 | ) | $ | — | $ | — | $ | (5,839,000 | ) | |||||||||||||||
Carrying value of old debt at modification | $ | (3,450,000 | ) | $ | — | $ | (980,000 | ) | $ | — | $ | (250,000 | ) | $ | — | $ | — | $ | — | $ | — | $ | — | $ | (4,680,000 | ) | |||||||||||||||||||
Fair value of new debt at modification | $ | 4,920,000 | $ | — | $ | 1,390,000 | $ | — | $ | 361,000 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 6,671,000 | |||||||||||||||||||||||
Conversion of debentures and warrants | $ | (688,000 | ) | $ | (2,152,000 | ) | $ | — | $ | (238,000 | ) | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | (3,078,000 | ) | |||||||||||||||||||
Fair value of instruments at issuance | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 1,807,000 | $ | 1,166,000 | 2,973,000 | ||||||||||||||||||||||||
18-Sep-13 | $ | 4,920,000 | $ | 1,048,000 | $ | 1,390,000 | $ | 424,000 | $ | 361,000 | $ | — | $ | 2,017,000 | $ | 404,000 | $ | 1,807,000 | $ | 1,166,000 | $ | 13,537,000 | |||||||||||||||||||||||
Conversion of debentures and warrants | $ | (122,000 | ) | $ | (265,000 | ) | $ | — | $ | — | $ | — | $ | — | $ | — | $ | -- | $ | — | $ | — | $ | (387,000 | ) | ||||||||||||||||||||
Fair value adjustment | $ | (1,508,000 | ) | $ | (604,000 | ) | $ | (380,000 | ) | $ | (283,000 | ) | $ | (124,000 | ) | $ | — | $ | (576,000 | ) | $ | (404,000 | ) | $ | (1,180,000 | ) | $ | (874,000 | ) | $ | (5,933,000 | ) | |||||||||||||
31-Dec-13 | $ | 3,290,000 | $ | 179,000 | $ | 1,010,000 | $ | 141,000 | $ | 237,000 | $ | — | $ | 1,441,000 | $ | -- | $ | 627,000 | $ | 292,000 | $ | 7,217,000 | |||||||||||||||||||||||
The following is a roll forward of the Company’s Level 3 instruments for the year ended December 31, 2013: | |||||||||||||||||||||||||||||||||||||||||||||
Convertible Notes | Warrants | Total | |||||||||||||||||||||||||||||||||||||||||||
Balance December 31, 2012 | 8,098,000 | 3,800,000 | 11,898,000 | ||||||||||||||||||||||||||||||||||||||||||
Issuances | 142,000 | 7,051,000 | 7,193,000 | ||||||||||||||||||||||||||||||||||||||||||
Amortization of debt discount | 95,000 | -- | 95,000 | ||||||||||||||||||||||||||||||||||||||||||
Debt extinguishment and modification of warrants | 1,826,000 | 1,448,000 | 3,274,000 | ||||||||||||||||||||||||||||||||||||||||||
Conversion of debentures and warrants | (810,000 | ) | (2,655,000 | ) | (3,465,000 | ) | |||||||||||||||||||||||||||||||||||||||
Fair value adjustments | (4,814,000 | ) | (6,964,000 | ) | (11,778,000 | ) | |||||||||||||||||||||||||||||||||||||||
31-Dec-13 | 4,537,000 | 2,680,000 | 7,217,000 | ||||||||||||||||||||||||||||||||||||||||||
Valuation – Methodology and Significant Inputs Assumptions | |||||||||||||||||||||||||||||||||||||||||||||
Fair values for the Company’s derivatives and financial instruments are estimated by utilizing valuation models that consider current and expected stock prices, volatility, dividends, market interest rates, forward yield curves and discount rates. Such amounts and the recognition of such amounts are subject to significant estimates that may change in the future. The methods and significant inputs and assumptions utilized in estimating the fair value of the warrant liabilities, 2013 SPA Options and Convertible Notes as of the December 31, 2012 balance sheet date, February 22, 2013 Amendment and Waiver Agreement date, September 18, 2013 Amendment and Waiver agreement, and the December 31, 2013 balance sheet date are discussed below. Each of the measurements is considered a Level 3 measurement as a result of at least one significant unobservable input. | |||||||||||||||||||||||||||||||||||||||||||||
2011 Warrants | |||||||||||||||||||||||||||||||||||||||||||||
A Black-Scholes-Merton option-pricing model, with dilution effects, was utilized to estimate the fair value of the 2011 Warrants as of December 31, 2012, February 22, 2013, and December 31, 2013. This model is widely used in estimating value of European options dependent upon a non-paying dividend stock and fixed inputs. This model is subject to the significant assumptions discussed below and requires the following key inputs with respect to the Company and/or instrument: | |||||||||||||||||||||||||||||||||||||||||||||
Input | 31-Dec-12 | 22-Feb-13 | 31-Dec-13 | ||||||||||||||||||||||||||||||||||||||||||
Stock Price | $ | 0.15 | $ | 0.14 | $ | 0.04 | |||||||||||||||||||||||||||||||||||||||
Exercise Price | $ | 0.15 | $ | 0.15 | $ | 0.098 | |||||||||||||||||||||||||||||||||||||||
Expected Life (in years) | 3.15 | 3 | 2.15 | ||||||||||||||||||||||||||||||||||||||||||
Stock Volatility | 100 | % | 100 | % | 95 | % | |||||||||||||||||||||||||||||||||||||||
Risk-Free Rate | 0.39 | % | 0.4 | % | 0.21 | % | |||||||||||||||||||||||||||||||||||||||
Dividend Rate | 0 | % | 0 | % | 0 | % | |||||||||||||||||||||||||||||||||||||||
Outstanding Shares of Common Stock | 32,434,430 | 59,576,097 | 160,664,862 | ||||||||||||||||||||||||||||||||||||||||||
2012 Warrants | |||||||||||||||||||||||||||||||||||||||||||||
$0.15 Warrants | |||||||||||||||||||||||||||||||||||||||||||||
A Black-Scholes-Merton option-pricing model, with dilution effects, was also utilized to estimate the fair value of the $0.15 Warrants as of December 31, 2012, February 22, 2013, and December 31, 2013. | |||||||||||||||||||||||||||||||||||||||||||||
Input | 31-Dec-12 | 22-Feb-13 | 31-Dec-13 | ||||||||||||||||||||||||||||||||||||||||||
Stock Price | $ | 0.15 | $ | 0.14 | $ | 0.04 | |||||||||||||||||||||||||||||||||||||||
Exercise Price | $ | 0.15 | $ | 0.15 | $ | 0.098 | |||||||||||||||||||||||||||||||||||||||
Expected Life (in years) | 4.5 | 4.38 | 3.5 | ||||||||||||||||||||||||||||||||||||||||||
Stock Volatility | 100 | % | 100 | % | 100 | % | |||||||||||||||||||||||||||||||||||||||
Risk-Free Rate | 0.63 | % | 0.7 | % | 1.02 | % | |||||||||||||||||||||||||||||||||||||||
Dividend Rate | 0 | % | 0 | % | 0 | % | |||||||||||||||||||||||||||||||||||||||
Outstanding Shares of Common Stock | 32,434,430 | 59,576,097 | 160,664,862 | ||||||||||||||||||||||||||||||||||||||||||
$0.25 Warrants | |||||||||||||||||||||||||||||||||||||||||||||
A Black-Scholes-Merton option-pricing model, with dilution effects, was also utilized to estimate the fair value of the $0.25 Warrants as December 31, 2012. These warrants were canceled on February 22, 2013. | |||||||||||||||||||||||||||||||||||||||||||||
Input | 31-Dec-12 | ||||||||||||||||||||||||||||||||||||||||||||
Stock Price | $ | 0.15 | |||||||||||||||||||||||||||||||||||||||||||
Exercise Price | $ | 0.25 | |||||||||||||||||||||||||||||||||||||||||||
Expected Life (in years) | 4.5 | ||||||||||||||||||||||||||||||||||||||||||||
Stock Volatility | 100 | % | |||||||||||||||||||||||||||||||||||||||||||
Risk-Free Rate | 0.63 | % | |||||||||||||||||||||||||||||||||||||||||||
Dividend Rate | 0 | % | |||||||||||||||||||||||||||||||||||||||||||
Outstanding Shares of Common Stock | 32,434,430 | ||||||||||||||||||||||||||||||||||||||||||||
Third Tranche Warrants | |||||||||||||||||||||||||||||||||||||||||||||
A Black-Scholes-Merton option-pricing model, with dilution effects, was also utilized to estimate the fair value of the Third Tranche Warrants as of January 16, 2013. These warrants were canceled on February 22, 2013. | |||||||||||||||||||||||||||||||||||||||||||||
Input | 16-Jan-13 | ||||||||||||||||||||||||||||||||||||||||||||
Stock Price | $ | 0.15 | |||||||||||||||||||||||||||||||||||||||||||
Exercise Price | $ | 0.15 | |||||||||||||||||||||||||||||||||||||||||||
Expected Life (in years) | 5 | ||||||||||||||||||||||||||||||||||||||||||||
Stock Volatility | 110 | % | |||||||||||||||||||||||||||||||||||||||||||
Risk-Free Rate | 0.75 | % | |||||||||||||||||||||||||||||||||||||||||||
Dividend Rate | 0 | % | |||||||||||||||||||||||||||||||||||||||||||
Outstanding Shares of Common Stock | 32,434,430 | ||||||||||||||||||||||||||||||||||||||||||||
February 2013 Warrants | |||||||||||||||||||||||||||||||||||||||||||||
A Monte Carlo simulation model was utilized to estimate the fair value of the February 2013 warrants as of February 22, 2013 and December 31, 2013. | |||||||||||||||||||||||||||||||||||||||||||||
Input | 22-Feb-13 | 31-Dec-13 | |||||||||||||||||||||||||||||||||||||||||||
Stock Price | $ | 0.12 | $ | 0.04 | |||||||||||||||||||||||||||||||||||||||||
Exercise Price | $ | 0.2 | $ | 0.08 | |||||||||||||||||||||||||||||||||||||||||
Expected Life (in years) | 5 | 4.15 | |||||||||||||||||||||||||||||||||||||||||||
Stock Volatility | 110 | % | 100 | % | |||||||||||||||||||||||||||||||||||||||||
Risk-Free Rate | 0.84 | % | 1.34 | % | |||||||||||||||||||||||||||||||||||||||||
Number of Steps | 100,000 | 100,000 | |||||||||||||||||||||||||||||||||||||||||||
Outstanding Shares of Common Stock | 59,576,097 | 160,664,862 | |||||||||||||||||||||||||||||||||||||||||||
February 2013 SPA Option | |||||||||||||||||||||||||||||||||||||||||||||
The February 2013 SPA option, upon exercise, allows the investor to purchase one share of common stock and one common stock warrant. The option was valued using multiple valuation models, including a Black-Scholes-Merton option-pricing model, with dilution effects, to estimate the fair value of the option to purchase the common share, and a Monte Carlo simulation to determine the estimated fair value of the warrant that would be issued at the time of exercise. These models were used to estimate the fair value of the option at February 22, 2013 and December 31, 2013. | |||||||||||||||||||||||||||||||||||||||||||||
Input | 22-Feb-13 | ||||||||||||||||||||||||||||||||||||||||||||
Stock Price | $ | 0.14 | |||||||||||||||||||||||||||||||||||||||||||
Exercise Price | $ | 0.15 | |||||||||||||||||||||||||||||||||||||||||||
Expected Life (in years) | 0.75 | ||||||||||||||||||||||||||||||||||||||||||||
Stock Volatility | 110 | % | |||||||||||||||||||||||||||||||||||||||||||
Risk-Free Rate | 0.15 | % | |||||||||||||||||||||||||||||||||||||||||||
Dividend Rate | 0 | % | |||||||||||||||||||||||||||||||||||||||||||
Outstanding Shares of Common Stock | 73,042,764 | ||||||||||||||||||||||||||||||||||||||||||||
A Monte Carlo simulation model was also utilized to estimate the fair value of the February 2013 SPA Option as of February 22, 2013. | |||||||||||||||||||||||||||||||||||||||||||||
Input | 22-Feb-13 | ||||||||||||||||||||||||||||||||||||||||||||
Stock Price (simulated) | $ | 0.1 | |||||||||||||||||||||||||||||||||||||||||||
Exercise Price | $ | 0.2 | |||||||||||||||||||||||||||||||||||||||||||
Expected Life (in years) | 5 | ||||||||||||||||||||||||||||||||||||||||||||
Stock Volatility | 110 | % | |||||||||||||||||||||||||||||||||||||||||||
Risk-Free Rate | 1.158 | % | |||||||||||||||||||||||||||||||||||||||||||
Number of Steps | 10,000 | ||||||||||||||||||||||||||||||||||||||||||||
September 2013 Warrants | |||||||||||||||||||||||||||||||||||||||||||||
A Monte Carlo simulation model was utilized to estimate the fair value of the September 2013 warrants as of September 18, 2013 and December 31, 2013. | |||||||||||||||||||||||||||||||||||||||||||||
Input | 18-Sep-13 | 31-Dec-13 | |||||||||||||||||||||||||||||||||||||||||||
Stock Price | $ | 0.071 | $ | 0.04 | |||||||||||||||||||||||||||||||||||||||||
Exercise Price | $ | 0.08 | $ | 0.08 | |||||||||||||||||||||||||||||||||||||||||
Expected Life (in years) | 5 | 4.72 | |||||||||||||||||||||||||||||||||||||||||||
Stock Volatility | 110 | % | 100 | % | |||||||||||||||||||||||||||||||||||||||||
Risk-Free Rate | 1.43 | % | 1.61 | % | |||||||||||||||||||||||||||||||||||||||||
Number of Steps | 100,000 | 100,000 | |||||||||||||||||||||||||||||||||||||||||||
September 2013 SPA Option | |||||||||||||||||||||||||||||||||||||||||||||
The September 2013 SPA option, upon exercise, allows the investor to purchase one share of common stock and one common stock warrant. The option was valued using multiple valuation models, including a Black-Scholes-Merton option-pricing model, with dilution effects, to estimate the fair value of the option to purchase the common share, and a Monte Carlo simulation to determine the estimated fair value of the warrant that would be issued at the time of exercise. These models were used to estimate the fair value of the option at September 18, 2013 and December 31, 2013. | |||||||||||||||||||||||||||||||||||||||||||||
Input | 18-Sep-13 | 31-Dec-13 | |||||||||||||||||||||||||||||||||||||||||||
Stock Price | $ | 0.075 | $ | 0.04 | |||||||||||||||||||||||||||||||||||||||||
Exercise Price | $ | 0.06 | $ | 0.06 | |||||||||||||||||||||||||||||||||||||||||
Expected Life (in years) | 0.748 | 0.463 | |||||||||||||||||||||||||||||||||||||||||||
Stock Volatility | 110 | % | 100 | % | |||||||||||||||||||||||||||||||||||||||||
Risk-Free Rate | 0.07 | % | 0.1 | % | |||||||||||||||||||||||||||||||||||||||||
Dividend Rate | 0 | % | 0 | % | |||||||||||||||||||||||||||||||||||||||||
Outstanding Shares of Common Stock | 143,997,066 | 160,664,862 | |||||||||||||||||||||||||||||||||||||||||||
A Monte Carlo simulation model was also utilized to estimate the fair value of the 2013 SPA Option as of | |||||||||||||||||||||||||||||||||||||||||||||
September 18, 2013 and December 31, 2013. | |||||||||||||||||||||||||||||||||||||||||||||
Input | 18-Sep-13 | 31-Dec-13 | |||||||||||||||||||||||||||||||||||||||||||
Stock Price (simulated) | $ | 0.075 | $ | 0.04 | |||||||||||||||||||||||||||||||||||||||||
Exercise Price | $ | 0.08 | $ | 0.08 | |||||||||||||||||||||||||||||||||||||||||
Expected Life (in years) | 0.748 | 0.463 | |||||||||||||||||||||||||||||||||||||||||||
Stock Volatility | 110 | % | 100 | % | |||||||||||||||||||||||||||||||||||||||||
Risk-Free Rate | 0.07 | % | 0.1 | % | |||||||||||||||||||||||||||||||||||||||||
Number of Steps | 10,000 | 10,000 | |||||||||||||||||||||||||||||||||||||||||||
2011 Convertible Notes | |||||||||||||||||||||||||||||||||||||||||||||
A binomial lattice model was utilized to estimate the fair value of the Convertible Notes as of December 31, 2012, February 22, 2012, September 18, 2013 and December 31, 2013. The binomial model considers the key features of the Convertible Notes, as noted above, and is subject to the significant assumptions discussed below. First, a discrete simulation of the Company’s stock price, without effects of dilution due to the conversion feature, was conducted at each node and throughout the expected life of the instrument. Second, a discrete simulation of the Company’s stock price, with effects of dilution due to the conversion feature, was conducted at each node and throughout the expected life of the instrument. Third, based upon the simulated stock price with dilution effect, an analysis of the higher position of a conversion position, redemption position, or holding position (i.e. fair value of the respective future nodes value discounted using the applicable discount rate) was conducted relative to each node until a final fair value of the instrument is conducted at the node representing the measurement date. This model requires the following key inputs with respect to the Company and/or instrument: | |||||||||||||||||||||||||||||||||||||||||||||
Input | 31-Dec-12 | 22-Feb-13 | September 18 2013 | 31-Dec-13 | |||||||||||||||||||||||||||||||||||||||||
Stock Price | $ | 0.15 | $ | 0.14 | $ | 0.075 | $ | 0.04 | |||||||||||||||||||||||||||||||||||||
Strike Price | $ | 0.1 | $ | 0.1 | $ | 0.06 | $ | 0.06 | |||||||||||||||||||||||||||||||||||||
Expected remaining term (in years) | 1.15 | 2.35 | 1.78 | 1.5 | |||||||||||||||||||||||||||||||||||||||||
Stock Volatility | 105 | % | 100 | % | 100 | % | 95 | % | |||||||||||||||||||||||||||||||||||||
Risk-Free Rate | 0.17 | % | 0.32 | % | 0.38 | % | 0.25 | % | |||||||||||||||||||||||||||||||||||||
Dividend Rate | 0 | % | 0 | % | 0 | % | 0 | % | |||||||||||||||||||||||||||||||||||||
Outstanding Shares of Common Stock | 32,434,430 | 59,576,097 | 143,997,066 | 160,664,862 | |||||||||||||||||||||||||||||||||||||||||
Effective discount rate | 13.1 | % | 13.2 | % | 16.4 | % | 19.6 | % | |||||||||||||||||||||||||||||||||||||
Probability of forced redemption | 20 | % | 20 | % | 20 | % | 20 | % | |||||||||||||||||||||||||||||||||||||
2012 Convertible Notes | |||||||||||||||||||||||||||||||||||||||||||||
A binomial lattice model was also utilized to estimate the fair value of the 2012 Convertible Notes as of December 31, 2012, February 22, 2012 and December 31, 2013. This model requires the following key inputs with respect to the Company and/or instrument: | |||||||||||||||||||||||||||||||||||||||||||||
Input | 31-Dec-12 | 22-Feb-13 | September 18 2013 | 31-Dec-13 | |||||||||||||||||||||||||||||||||||||||||
Stock Price | $ | 0.15 | $ | 0.14 | $ | 0.075 | $ | 0.04 | |||||||||||||||||||||||||||||||||||||
Exercise Price | $ | 0.1 | $ | 0.1 | $ | 0.06 | $ | 0.06 | |||||||||||||||||||||||||||||||||||||
Expected remaining term (in years) | 2.5 | 2.35 | 1.79 | 1.5 | |||||||||||||||||||||||||||||||||||||||||
Stock Volatility | 100 | % | 100 | % | 100 | % | 95 | % | |||||||||||||||||||||||||||||||||||||
Risk-Free Rate | 0.31 | % | 0.32 | % | 0.38 | % | 0.26 | % | |||||||||||||||||||||||||||||||||||||
Dividend Rate | 0 | % | 0 | % | 0 | % | 0 | % | |||||||||||||||||||||||||||||||||||||
Outstanding Shares of Common Stock | 32,434,430 | 59,576,097 | 143,997,066 | 160,664,862 | |||||||||||||||||||||||||||||||||||||||||
Effective discount rate | 13.2 | % | 13.2 | % | 16.4 | % | 19.6 | % | |||||||||||||||||||||||||||||||||||||
Probability of forced redemption | 20 | % | 20 | % | 20 | % | 20 | % | |||||||||||||||||||||||||||||||||||||
Third Tranche Convertible Notes | |||||||||||||||||||||||||||||||||||||||||||||
A binomial lattice model was also utilized to estimate the fair value of the Tranche Three Convertible Notes as of January 16, 2012, February 22, 2012 and December 31, 2013. This model requires the following key inputs with respect to the Company and/or instrument: | |||||||||||||||||||||||||||||||||||||||||||||
Input | 16-Jan-13 | 22-Feb-13 | September 18 2013 | 31-Dec-13 | |||||||||||||||||||||||||||||||||||||||||
Stock Price | $ | 0.15 | $ | 0.14 | $ | 0.075 | $ | 0.04 | |||||||||||||||||||||||||||||||||||||
Exercise Price | $ | 0.1 | $ | 0.1 | $ | 0.06 | $ | 0.06 | |||||||||||||||||||||||||||||||||||||
Expected remaining term (in years) | 3 | 2.9 | 2.33 | 2.04 | |||||||||||||||||||||||||||||||||||||||||
Stock Volatility | 100 | % | 100 | % | 100 | % | 95 | % | |||||||||||||||||||||||||||||||||||||
Risk-Free Rate | 0.36 | % | 0.39 | % | 0.56 | % | 0.4 | % | |||||||||||||||||||||||||||||||||||||
Dividend Rate | 0 | % | 0 | % | 0 | % | 0 | % | |||||||||||||||||||||||||||||||||||||
Outstanding Shares of Common Stock | 32,434,430 | 59,576,097 | 143,997,066 | 160,664,862 | |||||||||||||||||||||||||||||||||||||||||
Effective discount rate | 13.2 | % | 13.2 | % | 13.3 | % | 21.3 | % | |||||||||||||||||||||||||||||||||||||
Probability of forced redemption | 20 | % | 20 | % | 20 | % | 20 | % | |||||||||||||||||||||||||||||||||||||
The following are significant assumptions utilized in developing the inputs: | |||||||||||||||||||||||||||||||||||||||||||||
● | The Company’s common stock shares are traded on the OTC Bulletin Board and, accordingly, the stock price input is based upon bid prices as of the valuation dates due to the extremely thin trading volume, broker-driven market (vs. exchange market) and the wide bid/ask spread as of the valuation date; | ||||||||||||||||||||||||||||||||||||||||||||
● | The expected future stock prices of the Company’s stock were modeled to include the effect of dilution upon conversion of the instruments to shares of common stock; | ||||||||||||||||||||||||||||||||||||||||||||
● | Stock volatility was estimated by considering (i) the annualized monthly volatility of the Company’s stock price during the historical period preceding the respective valuation dates and measured over a period corresponding to the remaining life of the instruments (monthly data set is more relevant given the extremely thin trading volume of the Company’s common stock) and (ii) the annualized daily volatility of comparable companies’ stock price during the historical period preceding the respective valuation dates and measured over a period corresponding to the remaining life of the instrument. Historic prices of the Company and comparable companies’ common stock were used to estimate volatility as the Company did not have traded options as of the valuation dates; | ||||||||||||||||||||||||||||||||||||||||||||
● | Based upon the Company’s historical operations and management’s expectations for the foreseeable future, the Company’s stock was assumed to be a non-dividend-paying stock; | ||||||||||||||||||||||||||||||||||||||||||||
● | The risk-free interest rate is based on the U.S. Treasury Yield curve in effect as of the valuation date for the expected term; | ||||||||||||||||||||||||||||||||||||||||||||
● | With respect to the 2011 Convertible Notes, 2012 Convertible Notes and Third Tranche Convertible Notes, the Company is expected to pay all accrued interest due to the Holders on each Interest Payment Date; | ||||||||||||||||||||||||||||||||||||||||||||
● | With respect to the 2011 Convertible Notes, 2012 Convertible Notes and Third Tranche Convertible Notes, based upon management’s expectations for a change of control or fundamental transaction to occur prior to the maturity date of the 2011 Convertible Notes, 2012 Convertible Notes and Third Tranche Convertible Notes, a low probability of a forced redemption; | ||||||||||||||||||||||||||||||||||||||||||||
● | Upon a change of control redemption, the change of control redemption amount shall equal to the sum of: | ||||||||||||||||||||||||||||||||||||||||||||
I. the greater of: | |||||||||||||||||||||||||||||||||||||||||||||
(i) | the outstanding amount of the debt divided by the Conversion Price on the date of the mandatory default amount is either (A) demanded or (B) paid in full, whichever has a lower conversion price, multiplied by the VWAP of the date of the mandatory default amount is either (x) demanded or otherwise due or (y) paid in full, whichever has higher VWAP, plus all accrued and unpaid interest, or | ||||||||||||||||||||||||||||||||||||||||||||
(ii) | 130% of the outstanding principal amount of the debt, plus 100% of accrued and unpaid interest, and | ||||||||||||||||||||||||||||||||||||||||||||
II. | all other amounts, costs, expenses and liquidated damages due under the various agreements covering issuance of the debt. | ||||||||||||||||||||||||||||||||||||||||||||
Additionally, it is assumed that no amounts are due pursuant to clause (II) above in any period and that the stock price at each respective node represents a reasonable approximation of the VWAP requirements. | |||||||||||||||||||||||||||||||||||||||||||||
The changes in fair value between reporting periods are related to the changes in the price of the Company’s common stock as of the measurement dates, the volatility of the Company’s common stock during the remaining term of the instrument, changes in the conversion price and effective discount rate. |
Note_11_Income_Taxes
Note 11 - Income Taxes | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||
Income Tax Disclosure [Text Block] | ' | ||||||||
11. Income Taxes | |||||||||
The provision for income taxes consists of the following (in thousands): | |||||||||
Year Ended December 31, | |||||||||
2013 | 2012 | ||||||||
Income (loss) before income taxes: | |||||||||
United States | $ | 3,194 | $ | (8,288 | ) | ||||
Foreign | 305 | (99 | ) | ||||||
$ | 3,499 | (8,387 | ) | ||||||
Current income tax benefit from operations: | |||||||||
Federal | $ | -- | $ | -- | |||||
Foreign | -- | -- | |||||||
State | -- | -- | |||||||
$ | -- | $ | -- | ||||||
Deferred income tax benefit/(provision) from operations: | |||||||||
Federal | $ | 1,380 | 2,444 | ||||||
Foreign | (142 | ) | (104 | ) | |||||
State | 172 | (1,437 | ) | ||||||
1,410 | 903 | ||||||||
Change in valuation allowance | (1,410 | ) | (903 | ) | |||||
Total provision for income taxes | $ | — | $ | — | |||||
Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Significant components of the Company’s deferred tax assets as of December 31 are as follows (in thousands): | |||||||||
2013 | 2012 | ||||||||
Net federal and state operating loss carryforwards | $ | 22,939 | $ | 24,689 | |||||
Net foreign operating loss carryforwards | 523 | 380 | |||||||
Accrued expenses and reserves | (2 | ) | -- | ||||||
Tax credits | 1,212 | 1,194 | |||||||
Other | 476 | 295 | |||||||
Total deferred tax assets | 25,148 | 26,558 | |||||||
Valuation allowance | (25,148 | ) | (26,558 | ) | |||||
Net deferred tax assets | $ | - | $ | - | |||||
The valuation allowance decreased by $1,410,000 in 2013 primarily due to the Company’s net income. The Company recorded the valuation allowance due to the uncertainty of the realizability of the related net deferred tax asset. | |||||||||
Total provision for income taxes computed at the federal statutory rate differs from amounts provided as follows (in thousands): | |||||||||
2013 | 2012 | ||||||||
Tax provision (benefit) at federal statutory rate | 1,061 | $ | (2,818 | ) | |||||
State income taxes, net of U.S. federal income tax provision (benefit) | 4 | (11 | ) | ||||||
Permanent differences | 46 | 17 | |||||||
Other | 299 | 1,909 | |||||||
Change in valuation allowance | (1,410 | ) | (903 | ) | |||||
Total expense | $ | -- | $ | -- | |||||
At December 31, 2013, the Company had federal net operating loss carryforwards available to reduce future taxable income of approximately $67,207,600 which expire at various dates through 2032. At December 31, 2013, the Company had federal and state research and development credit carryforwards of $752,000 and $460,000, respectively, which will expire at various dates through 2032 for federal income tax purposes and through 2027 for state income tax purposes. In addition, at December 31, 2013 the Company had foreign net operating loss carryforwards of approximately $752,000. | |||||||||
Under the Internal Revenue Code of 1986, as amended, certain substantial changes in the Company’s ownership may limit the amount of net operating loss carryforwards that can be utilized in any one year to offset future taxable income. Any carryforwards that will expire prior to utilization as the result of any limitations will be removed from deferred tax assets with a corresponding reduction of the valuation allowance. Due to the existence of the valuation allowance, future changes in the Company’s unrecognized tax benefits will not impact its effective tax rate. | |||||||||
The Company recognizes a tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities. As of December 31, 2013 and 2012, there were no unrecognized tax benefits. The Company’s policy is to record estimated interest and penalties related to the underpayment of income taxes as a component of its income tax provision. As of December 31, 2013 and 2012, the Company had no accrued interest or tax penalties recorded. | |||||||||
The Company files income tax returns in the U.S. federal jurisdiction and in several state and foreign jurisdictions. For U.S. federal and state tax purposes, the tax years 2007 through 2013 remain open to examination. In addition, the amount of the Company’s federal and state net operating loss carryforwards may be subject to examination and adjustment. The open examination periods for the Company’s foreign jurisdictions range from 2000 through 2009. |
Note_12_Subsequent_Events
Note 12 - Subsequent Events | 12 Months Ended |
Dec. 31, 2013 | |
Subsequent Events [Abstract] | ' |
Subsequent Events [Text Block] | ' |
12. Subsequent Events | |
The Company has evaluated all events and transactions through the date of the filing. |
Accounting_Policies_by_Policy_
Accounting Policies, by Policy (Policies) | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||
Accounting Policies [Abstract] | ' | ||||||||||||||||||||
Basis of Accounting, Policy [Policy Text Block] | ' | ||||||||||||||||||||
Basis of Presentation | |||||||||||||||||||||
The consolidated financial statements include the accounts of PLC and its two wholly owned subsidiaries, PLC Medical Systems, Inc. and PLC Systemas Medicos Internacionais (Deutschland) GmbH. All intercompany accounts and transactions have been eliminated. | |||||||||||||||||||||
Use of Estimates, Policy [Policy Text Block] | ' | ||||||||||||||||||||
Use of Estimates | |||||||||||||||||||||
The preparation of financial statements in accordance with generally accepted accounting principles requires the Company to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Significant estimates include revenue recognition, warranty, inventory valuation, accounts receivable, and convertible notes and warrant liabilities. Actual results could differ from those estimates. | |||||||||||||||||||||
Cash and Cash Equivalents, Policy [Policy Text Block] | ' | ||||||||||||||||||||
Cash and Cash Equivalents | |||||||||||||||||||||
The Company considers all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents. Cash at December 31, 2013 and 2012, respectively, consisted of deposits held in bank checking accounts. | |||||||||||||||||||||
Concentration Risk, Credit Risk, Policy [Policy Text Block] | ' | ||||||||||||||||||||
Concentrations of Credit Risk | |||||||||||||||||||||
Financial instruments that potentially subject the Company to concentration of credit risk include cash, cash equivalents and accounts receivable. At times, the Company possesses cash balances above federally-insured limits. The Company believes it minimizes its exposure to potential concentrations of credit risk by placing its cash equivalents in high-quality financial institutions. At December 31, 2013 and 2012, the majority of the cash and cash equivalents balance was invested with a single financial institution. | |||||||||||||||||||||
Artech, the Company’s distributor in Italy, accounted for 68% and 35% of the Company’s revenues for the years ended December 31, 2013 and 2012, respectively. ACIST, the Company’s distributor in France and Germany, accounted for 11% and 9% of the Company’s revenues for the year ended December 31, 2013 and 2012, respectively. Discomed, the Company’s distributor in Brazil, accounted for 8% and 29% of the Company’s revenues for the years ended December 31, 2013 and 2012, respectively. At December 31, 2013, Artech, Discomed and ACIST accounted for 83%, 0% and 3%, respectively of gross accounts receivable. | |||||||||||||||||||||
Concentration Risk Revenues [Policy Text Block] | ' | ||||||||||||||||||||
Concentration of Revenues | |||||||||||||||||||||
All of the Company’s revenues for the years ended December 31, 2013 and 2012, respectively, were derived from the sales of RenalGuard. | |||||||||||||||||||||
Net sales to unaffiliated customers (by origin) are summarized below (in thousands): | |||||||||||||||||||||
South America | North America | Europe | Other | Total | |||||||||||||||||
2013 | |||||||||||||||||||||
Net sales | $ | 96 | $ | 31 | $ | 1,040 | $ | 107 | $ | 1,274 | |||||||||||
2012 | |||||||||||||||||||||
Net sales | $ | 312 | $ | 35 | $ | 588 | $ | 145 | $ | 1,080 | |||||||||||
Trade and Other Accounts Receivable, Policy [Policy Text Block] | ' | ||||||||||||||||||||
Accounts Receivable | |||||||||||||||||||||
Accounts receivable is stated at the amount the Company expects to collect from the outstanding balances. The Company continuously monitors collections from customers and maintains a provision for estimated credit losses based upon historical experience and any specific customer collection issues that the Company has identified. Historically, the Company has not experienced significant losses related to its accounts receivable. Collateral is generally not required. If the financial condition of its customers were to deteriorate, resulting in an impairment of their ability to make payments, additional allowances could be required. | |||||||||||||||||||||
Inventory, Policy [Policy Text Block] | ' | ||||||||||||||||||||
Inventories | |||||||||||||||||||||
Inventories are stated at average cost (computed on a first-in, first-out method) and include allocations of labor and overhead. The Company regularly reviews slow-moving and excess inventories, and writes down inventories to net realizable value if the ultimate expected proceeds from the disposals of excess inventory are less than the carrying cost of the inventory. | |||||||||||||||||||||
Property, Plant and Equipment, Policy [Policy Text Block] | ' | ||||||||||||||||||||
Equipment, Furniture, Leasehold Improvements and Long-Lived Assets | |||||||||||||||||||||
Equipment, furniture and leasehold improvements are stated on the basis of cost. Depreciation is computed principally on the straight-line method for financial reporting purposes. | |||||||||||||||||||||
Depreciation and amortization are based on the following useful lives: | |||||||||||||||||||||
Equipment (in years) | 2 | - | 5 | ||||||||||||||||||
Office furniture and fixtures (in years) | 5 | ||||||||||||||||||||
Leasehold improvements | Shorter of life of lease or useful life | ||||||||||||||||||||
The carrying amount of long-lived assets is reviewed whenever events or changes in circumstances indicate that the carrying value of an asset may not be recoverable. When required, recoverability of these assets is measured by comparing the carrying amount of the asset to the future undiscounted cash flows the asset is expected to generate. If the asset is considered to be impaired, the amount of any impairment is measured as the difference between the carrying value and the fair value of the impaired asset. During the years ended December 31, 2013 and 2012, the Company did not recognize any asset impairment charges. | |||||||||||||||||||||
Standard Product Warranty, Policy [Policy Text Block] | ' | ||||||||||||||||||||
Warranty and Preventative Maintenance Costs | |||||||||||||||||||||
The Company evaluates the estimated future unrecoverable costs of warranty and preventative maintenance services for its installed base products on a quarterly basis and adjusts its warranty reserve accordingly. The Company considers all available evidence, including historical experience and information obtained from supplier audits. There was no reserve for warranty and preventative maintenance costs recorded at December 31, 2013 and 2012. | |||||||||||||||||||||
Fair Value of Financial Instruments, Policy [Policy Text Block] | ' | ||||||||||||||||||||
Valuation of Convertible Notes and Warrant Liabilities | |||||||||||||||||||||
The valuation of our convertible notes and our warrant liabilities as derivative instruments utilizes certain estimates and judgments that affect the fair value of the instruments. Fair values are estimated by utilizing valuation models that consider current and expected stock prices, volatility, dividends, forward yield curves and discount rates. Such amounts and the recognition of such amounts are subject to significant estimates that may change in the future. | |||||||||||||||||||||
Revenue Recognition, Policy [Policy Text Block] | ' | ||||||||||||||||||||
Revenue Recognition | |||||||||||||||||||||
The Company recognizes revenue when the following basic revenue recognition criteria have been met: | |||||||||||||||||||||
(1) persuasive evidence of an arrangement exists; (2) delivery has occurred or services rendered; (3) the price to the buyer is fixed or determinable; and (4) collectability is reasonably assured. Determination of criteria (3) and (4) are based on management’s judgments regarding the fixed nature of the price to the buyer charged for products delivered or services rendered and collectability of the sales price. The Company assesses credit worthiness of customers based upon prior history with the customer and assessment of financial condition. The Company’s shipping terms are customarily Free On Board (“FOB”) shipping point. | |||||||||||||||||||||
The Company typically records all product revenue at the time of shipment if all other revenue recognition criteria are met. As of December 31, 2012, the Company had a deferred revenue balance of $317,000, related to shipments to its distributor in Italy, Artech, because not all revenue recognition criteria were met. During the years ended December 31, 2013 and 2012, the Company recognized $317,000, and $381,000, respectively, in revenue of previously deferred revenue upon the receipt of cash. The Company had deferred cost of goods sold of $85,000 as of December 31, 2012, which was classified as prepaid expenses and other current assets on the Consolidated Balance Sheets due to Artech revenue recognition criteria not being met. This amount was recorded as cost of revenues for the year ended December 31, 2013. | |||||||||||||||||||||
Foreign Currency Transactions and Translations Policy [Policy Text Block] | ' | ||||||||||||||||||||
Foreign Currency Translation | |||||||||||||||||||||
Assets and liabilities of the Company’s foreign subsidiary are translated into U.S. dollars at end-of-period exchange rates, while income and expense items are translated at average rates of exchange prevailing during the year. Exchange gains and losses arising from translation are accumulated as a separate component of stockholders’ equity. The Company records the impact from foreign currency transactions as a component of other income (expense). | |||||||||||||||||||||
Income Tax, Policy [Policy Text Block] | ' | ||||||||||||||||||||
Income Taxes | |||||||||||||||||||||
The Company uses an asset and liability based approach in accounting for income taxes. Deferred income tax assets and liabilities are recognized for the future tax consequences attributed to differences between the financial statement and tax basis of existing assets and liabilities using enacted rates applicable to the periods in which the differences are expected to affect taxable income. A valuation allowance is established, when necessary, to reduce deferred tax assets to the amount estimated by us to be realizable. | |||||||||||||||||||||
Research and Development Expense, Policy [Policy Text Block] | ' | ||||||||||||||||||||
Research and Development | |||||||||||||||||||||
Research and development costs are expensed as incurred. | |||||||||||||||||||||
Fair Value Measurement, Policy [Policy Text Block] | ' | ||||||||||||||||||||
Fair Value Measurements | |||||||||||||||||||||
The Company measures and reports fair value in accordance with Accounting Standards Codifications (“ASC”) 820 – Fair Value Measurements and Disclosures (ASC 820). ASC 820 defines fair value, establishes a framework for measuring fair value in accordance with generally accepted accounting principles and expands disclosures about fair value investments. | |||||||||||||||||||||
Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The fair value of an asset should reflect its highest and best use by market participants, principal (or most advantageous) markets, and an in-use or an in-exchange valuation premise. The fair value of a liability should reflect the risk of nonperformance, which includes, among other things, the Company’s credit risk. | |||||||||||||||||||||
Valuation techniques are generally classified into three categories: the market approach; the income approach; and the cost approach. The selection and application of one or more of the techniques may require significant judgment and are primarily dependent upon the characteristics of the asset or liability, and the quality and availability of inputs. Valuation techniques used to measure fair value under ASC 820 must maximize the use of observable inputs and minimize the use of unobservable inputs. ASC 820 also provides fair value hierarchy for inputs and resulting measurement as follows: | |||||||||||||||||||||
Level 1 | |||||||||||||||||||||
Quoted prices (unadjusted) in active markets that are accessible at the measurement date for identical assets or liabilities; | |||||||||||||||||||||
Level 2 | |||||||||||||||||||||
Quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities in markets that are not active; inputs other than quoted prices that are observable for the asset or liability; and inputs that are derived principally from or corroborated by observable market data for substantially the full term of the assets or liabilities; and | |||||||||||||||||||||
Level 3 | |||||||||||||||||||||
Unobservable inputs for the asset or liability that are supported by little or no market activity and that are significant to the fair values. | |||||||||||||||||||||
Fair value measurements are required to be disclosed by the Level within the fair value hierarchy in which the fair value measurements in their entirety fall. Fair value measurements using significant unobservable inputs (in Level 3 measurements) are subject to expanded disclosure requirements including a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (i) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings, and a description of where those gains or losses included in earning are reported in the statement of income. | |||||||||||||||||||||
The Company’s assets and liabilities measure at fair value on a recurring basis include convertible notes, warrants and certain options to purchase common stock. See Note 10 for related fair value disclosures. | |||||||||||||||||||||
Earnings Per Share, Policy [Policy Text Block] | ' | ||||||||||||||||||||
Earnings Per Share | |||||||||||||||||||||
Basic earnings per share is calculated using the Company’s weighted-average outstanding common shares. Diluted earnings per share is calculated using: the weighted-average outstanding common shares; the dilutive effect of applying the “if converted method” to convertible notes and investor warrants with cashless exercise provisions; and the dilutive effect of applying the treasury stock method to stock options and warrants. In applying the if-converted method to convertible notes and investor warrants with cashless exercise provision, the Company has adjusted net income (loss) to exclude the impact of fair value changes and interest expense associated with these instruments for the purpose of calculating diluted earnings per share. The following table reconciles net income (loss) and weighted average shares outstanding used in computing basic and diluted earnings per share: | |||||||||||||||||||||
For the Year Ended December 31, | |||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||
Net income (loss) | $ | 3,499 | $ | (8,387 | ) | ||||||||||||||||
Change in fair value of warrants | -- | -- | |||||||||||||||||||
Change in fair value of convertible notes | -- | -- | |||||||||||||||||||
Interest Expense on convertible notes | -- | -- | |||||||||||||||||||
Net income (loss) available to common stockholders, plus assumed conversions | 3,499 | (8,387 | ) | ||||||||||||||||||
Basic weighted-average shares outstanding | 77,061 | 31,139 | |||||||||||||||||||
Effect of dilutive securities: | |||||||||||||||||||||
Convertible notes | -- | -- | |||||||||||||||||||
Right to shares | 35,667 | -- | |||||||||||||||||||
Warrants | -- | -- | |||||||||||||||||||
Stock Options | -- | -- | |||||||||||||||||||
Weighted-average shares-diluted | 112,728 | 31,139 | |||||||||||||||||||
Net income per share-basic | $ | 0.05 | $ | (0.27 | ) | ||||||||||||||||
Net income per share-diluted | $ | 0.03 | $ | -- | |||||||||||||||||
For the year ended December 31, 2012, 47,096,000 shares attributable to outstanding convertible notes, options and warrants were excluded from the calculation of diluted earnings per share as their effect would have been antidilutive. For the year ended December 31, 2013, outstanding convertible notes, options and warrants to purchase 248,336,287 shares of common stock, respectively, were excluded from the calculations of diluted earnings per share as their effect would have been anti-dilutive. | |||||||||||||||||||||
During the year ended December 31, 2013, options and warrants to purchase 40,711,000 shares of common stock, were excluded from the calculations of diluted earnings per share as their effect would have been anti-dilutive. In addition, when applying the “if converted” method to the convertible debt and warrants with cashless exercise provisions, the net impact of eliminating the fair value changes of the convertible debt and warrants would result in a net loss for the twelve months ended December 31, 2013. Accordingly, these instruments were excluded from the calculations of diluted earnings per share for the twelve months ended December 31, 2013 as their effect would have been antidilutive. |
Note_2_Significant_Accounting_1
Note 2 - Significant Accounting Policies (Tables) | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||
Accounting Policies [Abstract] | ' | ||||||||||||||||||||
Schedule of Segment Reporting Information, by Segment [Table Text Block] | ' | ||||||||||||||||||||
South America | North America | Europe | Other | Total | |||||||||||||||||
2013 | |||||||||||||||||||||
Net sales | $ | 96 | $ | 31 | $ | 1,040 | $ | 107 | $ | 1,274 | |||||||||||
2012 | |||||||||||||||||||||
Net sales | $ | 312 | $ | 35 | $ | 588 | $ | 145 | $ | 1,080 | |||||||||||
Property, Plant and Equipment Useful Lives [Table Text Block] | ' | ||||||||||||||||||||
Equipment (in years) | 2 | - | 5 | ||||||||||||||||||
Office furniture and fixtures (in years) | 5 | ||||||||||||||||||||
Leasehold improvements | Shorter of life of lease or useful life | ||||||||||||||||||||
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | ' | ||||||||||||||||||||
For the Year Ended December 31, | |||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||
Net income (loss) | $ | 3,499 | $ | (8,387 | ) | ||||||||||||||||
Change in fair value of warrants | -- | -- | |||||||||||||||||||
Change in fair value of convertible notes | -- | -- | |||||||||||||||||||
Interest Expense on convertible notes | -- | -- | |||||||||||||||||||
Net income (loss) available to common stockholders, plus assumed conversions | 3,499 | (8,387 | ) | ||||||||||||||||||
Basic weighted-average shares outstanding | 77,061 | 31,139 | |||||||||||||||||||
Effect of dilutive securities: | |||||||||||||||||||||
Convertible notes | -- | -- | |||||||||||||||||||
Right to shares | 35,667 | -- | |||||||||||||||||||
Warrants | -- | -- | |||||||||||||||||||
Stock Options | -- | -- | |||||||||||||||||||
Weighted-average shares-diluted | 112,728 | 31,139 | |||||||||||||||||||
Net income per share-basic | $ | 0.05 | $ | (0.27 | ) | ||||||||||||||||
Net income per share-diluted | $ | 0.03 | $ | -- |
Note_3_Inventories_Tables
Note 3 - Inventories (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Inventory Disclosure [Abstract] | ' | ||||||||
Schedule of Inventory, Current [Table Text Block] | ' | ||||||||
2013 | 2012 | ||||||||
Raw materials | $ | 80 | $ | 143 | |||||
Finished goods | 37 | 39 | |||||||
$ | 117 | $ | 182 |
Note_4_Equipment_Furniture_and1
Note 4 - Equipment, Furniture and Leasehold Improvements (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Property, Plant and Equipment [Abstract] | ' | ||||||||
Property, Plant and Equipment [Table Text Block] | ' | ||||||||
2013 | 2012 | ||||||||
Equipment | $ | 509 | $ | 488 | |||||
Office furniture and fixtures | 218 | 218 | |||||||
Leasehold improvements | 4 | 4 | |||||||
731 | 710 | ||||||||
Less accumulated depreciation and amortization | 694 | 643 | |||||||
$ | 37 | $ | 67 |
Note_6_Stock_Based_Compensatio1
Note 6 - Stock Based Compensation (Tables) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | ||||||||||||||||
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block] | ' | ||||||||||||||||
Number of Options | Weighted Average Exercise | Average Remaining Contractual Life (Years) | Aggregate Intrinsic Value | ||||||||||||||
Price | |||||||||||||||||
Outstanding, December 31, 2011 | 5,602 | $ | 0.21 | ||||||||||||||
Granted | 468 | 0.17 | |||||||||||||||
Exercised | -- | -- | |||||||||||||||
Forfeited | (3 | ) | 0.55 | ||||||||||||||
Expired | -- | -- | |||||||||||||||
Cancelled | (475 | ) | 0.24 | ||||||||||||||
Outstanding, December 31, 2012 | 5,592 | $ | 0.21 | ||||||||||||||
Granted | 5,639 | 0.09 | |||||||||||||||
Exercised | -- | -- | |||||||||||||||
Forfeited | (643 | ) | 0.1 | ||||||||||||||
Expired | -- | -- | |||||||||||||||
Cancelled | (502 | ) | 0.16 | ||||||||||||||
Outstanding, December 31, 2013 | 10,086 | $ | 0.15 | 5.53 | $ | 0 | |||||||||||
Exercisable, December 31, 2013 | 5,386 | $ | 0.19 | 2.08 | $ | 0 | |||||||||||
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | ' | ||||||||||||||||
Year Ended December 31, | |||||||||||||||||
2013 | 2012 | ||||||||||||||||
Expected life (years) | 3 | - | 6 | 5 | - | 6 | |||||||||||
Interest rate | 0.73 | - | 1.67% | 0.19 | - | 0.69% | |||||||||||
Volatility | 195.75 | - | 217.52 | 204.1 | - | 216.20% | |||||||||||
Expected dividend yield | None | None | |||||||||||||||
Value of option granted | $0.07 | - | 0.09 | $0.12 | - | 0.17 |
Note_8_Sale_of_Common_Stock_Ta
Note 8 - Sale of Common Stock (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Note 8 - Sale of Common Stock (Tables) [Line Items] | ' | ||||||||||||
Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block] | ' | ||||||||||||
2011 Warrants | Exercise Price | ||||||||||||
Beginning balance – December 31, 2012 | 40,000,000 | $ | 0.15 | ||||||||||
Less: Canceled | (40,000,000 | ) | 0.15 | ||||||||||
Add: Issued | 65,263,156 | 0.098 | |||||||||||
Less: Exercised | (47,322,376 | ) | 0.098 | ||||||||||
Ending Balance – December 31, 2013 | 17,940,780 | $ | 0.098 | ||||||||||
$0.15 Warrants | Warrants | Exercise Price | |||||||||||
Beginning balance at December 31, 2012 | 10,000,000 | $ | 0.15 | ||||||||||
Less: Canceled | (10,000,000 | ) | 0.15 | ||||||||||
Add: Issued | 16,315,790 | 0.098 | |||||||||||
Less: Exercised | (9,250,535 | ) | 0.098 | ||||||||||
Ending balance at December 31, 2013 | 7,065,255 | $ | 0.098 | ||||||||||
$0.25 Warrants | Warrants | Exercise Price | |||||||||||
Beginning balance at December 31, 2012 | 10,000,000 | $ | 0.25 | ||||||||||
Less: Canceled | (10,000,000 | ) | 0.25 | ||||||||||
Ending balance at December 31, 2013 | — | $ | — | ||||||||||
Third Tranche Warrants | Warrants | Exercise Price | |||||||||||
Beginning balance at December 31, 2012 | — | $ | — | ||||||||||
Add: Issued | 2,500,000 | 0.15 | |||||||||||
Less: Canceled | (2,500,000 | ) | 0.15 | ||||||||||
Ending balance at December 31, 2013 | — | $ | — | ||||||||||
SPA Options and Warrants [Member] | ' | ||||||||||||
Note 8 - Sale of Common Stock (Tables) [Line Items] | ' | ||||||||||||
Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block] | ' | ||||||||||||
September 2013 SPA Option | Shares | Exercise Price | |||||||||||
Beginning balance at September 18, 2013 | 14,583,334 | 0.06 | |||||||||||
Ending balance at December 31, 2013 | 14,583,334 | 0.06 | |||||||||||
The September 2013 Warrants | Warrants | Exercise Price | |||||||||||
Beginning balance at September 18, 2013 | 30,625,001 | $ | 0.08 | ||||||||||
Ending balance at December 31, 2013 | 30,625,001 | $ | 0.08 | ||||||||||
February 2013 SPA Option | Shares | Exercise Price | |||||||||||
Beginning balance at February 22, 2013 | 13,466,667 | 0.15 | |||||||||||
Less: Expired | (13,466,667 | ) | 0.15 | ||||||||||
Ending balance at December 31, 2013 | -- | -- | |||||||||||
The February 2013 Warrants | Warrants | Exercise Price | |||||||||||
Beginning balance at February 22, 2013 | 28,818,666 | $ | 0.2 | ||||||||||
Add: Anti-dilution adjustment | 43,228,001 | 0.08 | |||||||||||
Ending balance at December 31, 2013 | 72,046,667 | $ | 0.08 |
Note_9_Convertible_Notes_and_W1
Note 9 - Convertible Notes and Warrant Liabilities (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Convertible Notes Warrant Liabilities And Fair Value Disclosure [Abstract] | ' | ||||||||
Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block] | ' | ||||||||
2011 Warrants | Exercise Price | ||||||||
Beginning balance – December 31, 2012 | 40,000,000 | $ | 0.15 | ||||||
Less: Canceled | (40,000,000 | ) | 0.15 | ||||||
Add: Issued | 65,263,156 | 0.098 | |||||||
Less: Exercised | (47,322,376 | ) | 0.098 | ||||||
Ending Balance – December 31, 2013 | 17,940,780 | $ | 0.098 | ||||||
$0.15 Warrants | Warrants | Exercise Price | |||||||
Beginning balance at December 31, 2012 | 10,000,000 | $ | 0.15 | ||||||
Less: Canceled | (10,000,000 | ) | 0.15 | ||||||
Add: Issued | 16,315,790 | 0.098 | |||||||
Less: Exercised | (9,250,535 | ) | 0.098 | ||||||
Ending balance at December 31, 2013 | 7,065,255 | $ | 0.098 | ||||||
$0.25 Warrants | Warrants | Exercise Price | |||||||
Beginning balance at December 31, 2012 | 10,000,000 | $ | 0.25 | ||||||
Less: Canceled | (10,000,000 | ) | 0.25 | ||||||
Ending balance at December 31, 2013 | — | $ | — | ||||||
Third Tranche Warrants | Warrants | Exercise Price | |||||||
Beginning balance at December 31, 2012 | — | $ | — | ||||||
Add: Issued | 2,500,000 | 0.15 | |||||||
Less: Canceled | (2,500,000 | ) | 0.15 | ||||||
Ending balance at December 31, 2013 | — | $ | — |
Note_10_Fair_Value_Measurement1
Note 10 - Fair Value Measurements (Tables) | 12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||||||||||||||||||||
Note 10 - Fair Value Measurements (Tables) [Line Items] | ' | ||||||||||||||||||||||||||||||||||||||||||||
Fair Value, Liabilities Measured on Recurring and Nonrecurring Basis [Table Text Block] | ' | ||||||||||||||||||||||||||||||||||||||||||||
Fair Value Measurements at Reporting Date Using: | |||||||||||||||||||||||||||||||||||||||||||||
Description | Balance as of December 31, 2012 | Quoted Prices in Active Markets for Identical Assets (Level 1) | Significant Other Observable Inputs(Level 2) | Significant Unobservable Inputs (Level 3) | |||||||||||||||||||||||||||||||||||||||||
Liabilities | |||||||||||||||||||||||||||||||||||||||||||||
Convertible notes | $ | 8,098,000 | $ | — | $ | — | $ | 8,098,000 | |||||||||||||||||||||||||||||||||||||
Warrant liabilities | $ | 3,800,000 | $ | — | $ | — | $ | 3,800,000 | |||||||||||||||||||||||||||||||||||||
Total Liabilities | $ | 11,898,000 | $ | — | $ | — | $ | 11,898,000 | |||||||||||||||||||||||||||||||||||||
Fair Value Measurements at Reporting Date Using: | |||||||||||||||||||||||||||||||||||||||||||||
Description | Balance as of December 31, 2013 | Quoted Prices in Active Markets for Identical Assets (Level 1) | Significant Other Observable Inputs(Level 2) | Significant Unobservable Inputs(Level 3) | |||||||||||||||||||||||||||||||||||||||||
Liabilities | |||||||||||||||||||||||||||||||||||||||||||||
Convertible notes | $ | 4,537,000 | $ | — | $ | — | $ | 4,537,000 | |||||||||||||||||||||||||||||||||||||
Warrant and option liabilities | $ | 2,680,000 | $ | — | $ | — | $ | 2,680,000 | |||||||||||||||||||||||||||||||||||||
Total Liabilities | $ | 7,217,000 | $ | — | $ | — | $ | 7,217,000 | |||||||||||||||||||||||||||||||||||||
Fair Value, by Balance Sheet Grouping [Table Text Block] | ' | ||||||||||||||||||||||||||||||||||||||||||||
Fair Value | Fair Value of 2011 Warrant Liabilities | Fair Value of 2012 Convertible Notes | Fair Value of 2012 Warrant Liabilities | Fair Value of Third Tranche Convertible Notes | Fair Value of Third Tranche Warrant Liabilities | February | February | September 2013 Warrants | September 2013 SPA Options | Total | |||||||||||||||||||||||||||||||||||
of 2011 | 2013 Warrants | 2013 SPA Option | |||||||||||||||||||||||||||||||||||||||||||
Convertible | |||||||||||||||||||||||||||||||||||||||||||||
Notes | |||||||||||||||||||||||||||||||||||||||||||||
Balance December 31, 2011 | $ | 5,327,000 | $ | 1,600,000 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 6,927,000 | |||||||||||||||||||||||
Amortization of debt discount | $ | 265,000 | $ | — | $ | 66,000 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 331,000 | |||||||||||||||||||||||
Allocation of initial proceeds | $ | — | $ | — | $ | 417,000 | $ | 583,000 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 1,000,000 | |||||||||||||||||||||||
Fair value adjustment | $ | 918,000 | $ | 400,000 | $ | 1,105,000 | $ | 1,217,000 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 3,640,000 | |||||||||||||||||||||||
Balance December 31, 2012 | $ | 6,510,000 | $ | 2,000,000 | $ | 1,588,000 | $ | 1,800,000 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 11,898,000 | |||||||||||||||||||||||
Allocation of initial proceeds | $ | — | $ | — | $ | — | $ | — | $ | 142,000 | $ | 108,000 | $ | — | $ | — | $ | — | $ | — | $ | 250,000 | |||||||||||||||||||||||
Initial fair value adjustment | $ | — | $ | — | $ | — | $ | — | $ | 252,000 | $ | 192,000 | $ | — | $ | — | $ | — | $ | — | $ | 444,000 | |||||||||||||||||||||||
16-Jan-13 | $ | 6,510,000 | $ | 2,000,000 | $ | 1,588,000 | $ | 1,800,000 | $ | 394,000 | $ | 300,000 | $ | — | $ | — | $ | — | $ | — | $ | 12,592,000 | |||||||||||||||||||||||
Amortization of debt discount | $ | 38,000 | $ | — | $ | 55,000 | $ | — | $ | 2,000 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 95,000 | |||||||||||||||||||||||
Fair value adjustment | $ | (370,000 | ) | $ | — | $ | (72,000 | ) | $ | — | $ | (8,000 | ) | $ | — | $ | — | $ | — | $ | — | $ | — | $ | (450,000 | ) | |||||||||||||||||||
Carrying value of old debt at modification | $ | (6,178,000 | ) | $ | — | $ | (1,571,000 | ) | $ | — | $ | (388,000 | ) | $ | — | $ | — | $ | — | $ | — | $ | — | $ | (8,137,000 | ) | |||||||||||||||||||
Fair value of new debt at modification | $ | 6,070,000 | $ | — | $ | 1,516,000 | $ | — | $ | 386,000 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 7,972,000 | |||||||||||||||||||||||
Modification of warrants | $ | — | $ | 1,916,000 | $ | — | $ | 632,000 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 2,548,000 | |||||||||||||||||||||||
Cancellation/retirement of warrants | $ | — | $ | — | $ | — | $ | (800,000 | ) | $ | — | $ | (300,000 | ) | $ | — | $ | — | $ | — | $ | — | $ | (1,100,000 | ) | ||||||||||||||||||||
Fair value of instruments at issuance | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 2,759,000 | $ | 1,211,000 | $ | — | $ | — | $ | 3,970,000 | |||||||||||||||||||||||
22-Feb-13 | $ | 6,070,000 | $ | 3,916,000 | $ | 1,516,000 | $ | 1,632,000 | $ | 386,000 | $ | — | $ | 2,759,000 | $ | 1,211,000 | $ | — | $ | — | $ | 17,490,000 | |||||||||||||||||||||||
Fair value adjustment | $ | (1,932,000 | ) | $ | (716,000 | ) | $ | (536,000 | ) | $ | (970,000 | ) | $ | (136,000 | ) | $ | — | $ | (742,000 | ) | $ | (807,000 | ) | $ | — | $ | — | $ | (5,839,000 | ) | |||||||||||||||
Carrying value of old debt at modification | $ | (3,450,000 | ) | $ | — | $ | (980,000 | ) | $ | — | $ | (250,000 | ) | $ | — | $ | — | $ | — | $ | — | $ | — | $ | (4,680,000 | ) | |||||||||||||||||||
Fair value of new debt at modification | $ | 4,920,000 | $ | — | $ | 1,390,000 | $ | — | $ | 361,000 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 6,671,000 | |||||||||||||||||||||||
Conversion of debentures and warrants | $ | (688,000 | ) | $ | (2,152,000 | ) | $ | — | $ | (238,000 | ) | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | (3,078,000 | ) | |||||||||||||||||||
Fair value of instruments at issuance | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 1,807,000 | $ | 1,166,000 | 2,973,000 | ||||||||||||||||||||||||
18-Sep-13 | $ | 4,920,000 | $ | 1,048,000 | $ | 1,390,000 | $ | 424,000 | $ | 361,000 | $ | — | $ | 2,017,000 | $ | 404,000 | $ | 1,807,000 | $ | 1,166,000 | $ | 13,537,000 | |||||||||||||||||||||||
Conversion of debentures and warrants | $ | (122,000 | ) | $ | (265,000 | ) | $ | — | $ | — | $ | — | $ | — | $ | — | $ | -- | $ | — | $ | — | $ | (387,000 | ) | ||||||||||||||||||||
Fair value adjustment | $ | (1,508,000 | ) | $ | (604,000 | ) | $ | (380,000 | ) | $ | (283,000 | ) | $ | (124,000 | ) | $ | — | $ | (576,000 | ) | $ | (404,000 | ) | $ | (1,180,000 | ) | $ | (874,000 | ) | $ | (5,933,000 | ) | |||||||||||||
31-Dec-13 | $ | 3,290,000 | $ | 179,000 | $ | 1,010,000 | $ | 141,000 | $ | 237,000 | $ | — | $ | 1,441,000 | $ | -- | $ | 627,000 | $ | 292,000 | $ | 7,217,000 | |||||||||||||||||||||||
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] | ' | ||||||||||||||||||||||||||||||||||||||||||||
Convertible Notes | Warrants | Total | |||||||||||||||||||||||||||||||||||||||||||
Balance December 31, 2012 | 8,098,000 | 3,800,000 | 11,898,000 | ||||||||||||||||||||||||||||||||||||||||||
Issuances | 142,000 | 7,051,000 | 7,193,000 | ||||||||||||||||||||||||||||||||||||||||||
Amortization of debt discount | 95,000 | -- | 95,000 | ||||||||||||||||||||||||||||||||||||||||||
Debt extinguishment and modification of warrants | 1,826,000 | 1,448,000 | 3,274,000 | ||||||||||||||||||||||||||||||||||||||||||
Conversion of debentures and warrants | (810,000 | ) | (2,655,000 | ) | (3,465,000 | ) | |||||||||||||||||||||||||||||||||||||||
Fair value adjustments | (4,814,000 | ) | (6,964,000 | ) | (11,778,000 | ) | |||||||||||||||||||||||||||||||||||||||
31-Dec-13 | 4,537,000 | 2,680,000 | 7,217,000 | ||||||||||||||||||||||||||||||||||||||||||
February 2013 Warrants [Member] | Monte Carlo Simulation Model [Member] | ' | ||||||||||||||||||||||||||||||||||||||||||||
Note 10 - Fair Value Measurements (Tables) [Line Items] | ' | ||||||||||||||||||||||||||||||||||||||||||||
Fair Value Inputs, Liabilities, Quantitative Information [Table Text Block] | ' | ||||||||||||||||||||||||||||||||||||||||||||
Input | 22-Feb-13 | 31-Dec-13 | |||||||||||||||||||||||||||||||||||||||||||
Stock Price | $ | 0.12 | $ | 0.04 | |||||||||||||||||||||||||||||||||||||||||
Exercise Price | $ | 0.2 | $ | 0.08 | |||||||||||||||||||||||||||||||||||||||||
Expected Life (in years) | 5 | 4.15 | |||||||||||||||||||||||||||||||||||||||||||
Stock Volatility | 110 | % | 100 | % | |||||||||||||||||||||||||||||||||||||||||
Risk-Free Rate | 0.84 | % | 1.34 | % | |||||||||||||||||||||||||||||||||||||||||
Number of Steps | 100,000 | 100,000 | |||||||||||||||||||||||||||||||||||||||||||
Outstanding Shares of Common Stock | 59,576,097 | 160,664,862 | |||||||||||||||||||||||||||||||||||||||||||
Convertible Notes [Member] | ' | ||||||||||||||||||||||||||||||||||||||||||||
Note 10 - Fair Value Measurements (Tables) [Line Items] | ' | ||||||||||||||||||||||||||||||||||||||||||||
Fair Value Inputs, Liabilities, Quantitative Information [Table Text Block] | ' | ||||||||||||||||||||||||||||||||||||||||||||
Input | 31-Dec-12 | 22-Feb-13 | September 18 2013 | 31-Dec-13 | |||||||||||||||||||||||||||||||||||||||||
Stock Price | $ | 0.15 | $ | 0.14 | $ | 0.075 | $ | 0.04 | |||||||||||||||||||||||||||||||||||||
Strike Price | $ | 0.1 | $ | 0.1 | $ | 0.06 | $ | 0.06 | |||||||||||||||||||||||||||||||||||||
Expected remaining term (in years) | 1.15 | 2.35 | 1.78 | 1.5 | |||||||||||||||||||||||||||||||||||||||||
Stock Volatility | 105 | % | 100 | % | 100 | % | 95 | % | |||||||||||||||||||||||||||||||||||||
Risk-Free Rate | 0.17 | % | 0.32 | % | 0.38 | % | 0.25 | % | |||||||||||||||||||||||||||||||||||||
Dividend Rate | 0 | % | 0 | % | 0 | % | 0 | % | |||||||||||||||||||||||||||||||||||||
Outstanding Shares of Common Stock | 32,434,430 | 59,576,097 | 143,997,066 | 160,664,862 | |||||||||||||||||||||||||||||||||||||||||
Effective discount rate | 13.1 | % | 13.2 | % | 16.4 | % | 19.6 | % | |||||||||||||||||||||||||||||||||||||
Probability of forced redemption | 20 | % | 20 | % | 20 | % | 20 | % | |||||||||||||||||||||||||||||||||||||
Input | 31-Dec-12 | 22-Feb-13 | September 18 2013 | 31-Dec-13 | |||||||||||||||||||||||||||||||||||||||||
Stock Price | $ | 0.15 | $ | 0.14 | $ | 0.075 | $ | 0.04 | |||||||||||||||||||||||||||||||||||||
Exercise Price | $ | 0.1 | $ | 0.1 | $ | 0.06 | $ | 0.06 | |||||||||||||||||||||||||||||||||||||
Expected remaining term (in years) | 2.5 | 2.35 | 1.79 | 1.5 | |||||||||||||||||||||||||||||||||||||||||
Stock Volatility | 100 | % | 100 | % | 100 | % | 95 | % | |||||||||||||||||||||||||||||||||||||
Risk-Free Rate | 0.31 | % | 0.32 | % | 0.38 | % | 0.26 | % | |||||||||||||||||||||||||||||||||||||
Dividend Rate | 0 | % | 0 | % | 0 | % | 0 | % | |||||||||||||||||||||||||||||||||||||
Outstanding Shares of Common Stock | 32,434,430 | 59,576,097 | 143,997,066 | 160,664,862 | |||||||||||||||||||||||||||||||||||||||||
Effective discount rate | 13.2 | % | 13.2 | % | 16.4 | % | 19.6 | % | |||||||||||||||||||||||||||||||||||||
Probability of forced redemption | 20 | % | 20 | % | 20 | % | 20 | % | |||||||||||||||||||||||||||||||||||||
Input | 16-Jan-13 | 22-Feb-13 | September 18 2013 | 31-Dec-13 | |||||||||||||||||||||||||||||||||||||||||
Stock Price | $ | 0.15 | $ | 0.14 | $ | 0.075 | $ | 0.04 | |||||||||||||||||||||||||||||||||||||
Exercise Price | $ | 0.1 | $ | 0.1 | $ | 0.06 | $ | 0.06 | |||||||||||||||||||||||||||||||||||||
Expected remaining term (in years) | 3 | 2.9 | 2.33 | 2.04 | |||||||||||||||||||||||||||||||||||||||||
Stock Volatility | 100 | % | 100 | % | 100 | % | 95 | % | |||||||||||||||||||||||||||||||||||||
Risk-Free Rate | 0.36 | % | 0.39 | % | 0.56 | % | 0.4 | % | |||||||||||||||||||||||||||||||||||||
Dividend Rate | 0 | % | 0 | % | 0 | % | 0 | % | |||||||||||||||||||||||||||||||||||||
Outstanding Shares of Common Stock | 32,434,430 | 59,576,097 | 143,997,066 | 160,664,862 | |||||||||||||||||||||||||||||||||||||||||
Effective discount rate | 13.2 | % | 13.2 | % | 13.3 | % | 21.3 | % | |||||||||||||||||||||||||||||||||||||
Probability of forced redemption | 20 | % | 20 | % | 20 | % | 20 | % | |||||||||||||||||||||||||||||||||||||
Black-Sholes-Merton Option Pricing Model [Member] | ' | ||||||||||||||||||||||||||||||||||||||||||||
Note 10 - Fair Value Measurements (Tables) [Line Items] | ' | ||||||||||||||||||||||||||||||||||||||||||||
Fair Value Inputs, Liabilities, Quantitative Information [Table Text Block] | ' | ||||||||||||||||||||||||||||||||||||||||||||
Input | 31-Dec-12 | 22-Feb-13 | 31-Dec-13 | ||||||||||||||||||||||||||||||||||||||||||
Stock Price | $ | 0.15 | $ | 0.14 | $ | 0.04 | |||||||||||||||||||||||||||||||||||||||
Exercise Price | $ | 0.15 | $ | 0.15 | $ | 0.098 | |||||||||||||||||||||||||||||||||||||||
Expected Life (in years) | 3.15 | 3 | 2.15 | ||||||||||||||||||||||||||||||||||||||||||
Stock Volatility | 100 | % | 100 | % | 95 | % | |||||||||||||||||||||||||||||||||||||||
Risk-Free Rate | 0.39 | % | 0.4 | % | 0.21 | % | |||||||||||||||||||||||||||||||||||||||
Dividend Rate | 0 | % | 0 | % | 0 | % | |||||||||||||||||||||||||||||||||||||||
Outstanding Shares of Common Stock | 32,434,430 | 59,576,097 | 160,664,862 | ||||||||||||||||||||||||||||||||||||||||||
Input | 31-Dec-12 | 22-Feb-13 | 31-Dec-13 | ||||||||||||||||||||||||||||||||||||||||||
Stock Price | $ | 0.15 | $ | 0.14 | $ | 0.04 | |||||||||||||||||||||||||||||||||||||||
Exercise Price | $ | 0.15 | $ | 0.15 | $ | 0.098 | |||||||||||||||||||||||||||||||||||||||
Expected Life (in years) | 4.5 | 4.38 | 3.5 | ||||||||||||||||||||||||||||||||||||||||||
Stock Volatility | 100 | % | 100 | % | 100 | % | |||||||||||||||||||||||||||||||||||||||
Risk-Free Rate | 0.63 | % | 0.7 | % | 1.02 | % | |||||||||||||||||||||||||||||||||||||||
Dividend Rate | 0 | % | 0 | % | 0 | % | |||||||||||||||||||||||||||||||||||||||
Outstanding Shares of Common Stock | 32,434,430 | 59,576,097 | 160,664,862 | ||||||||||||||||||||||||||||||||||||||||||
Input | 31-Dec-12 | ||||||||||||||||||||||||||||||||||||||||||||
Stock Price | $ | 0.15 | |||||||||||||||||||||||||||||||||||||||||||
Exercise Price | $ | 0.25 | |||||||||||||||||||||||||||||||||||||||||||
Expected Life (in years) | 4.5 | ||||||||||||||||||||||||||||||||||||||||||||
Stock Volatility | 100 | % | |||||||||||||||||||||||||||||||||||||||||||
Risk-Free Rate | 0.63 | % | |||||||||||||||||||||||||||||||||||||||||||
Dividend Rate | 0 | % | |||||||||||||||||||||||||||||||||||||||||||
Outstanding Shares of Common Stock | 32,434,430 | ||||||||||||||||||||||||||||||||||||||||||||
Input | 16-Jan-13 | ||||||||||||||||||||||||||||||||||||||||||||
Stock Price | $ | 0.15 | |||||||||||||||||||||||||||||||||||||||||||
Exercise Price | $ | 0.15 | |||||||||||||||||||||||||||||||||||||||||||
Expected Life (in years) | 5 | ||||||||||||||||||||||||||||||||||||||||||||
Stock Volatility | 110 | % | |||||||||||||||||||||||||||||||||||||||||||
Risk-Free Rate | 0.75 | % | |||||||||||||||||||||||||||||||||||||||||||
Dividend Rate | 0 | % | |||||||||||||||||||||||||||||||||||||||||||
Outstanding Shares of Common Stock | 32,434,430 | ||||||||||||||||||||||||||||||||||||||||||||
Input | 22-Feb-13 | ||||||||||||||||||||||||||||||||||||||||||||
Stock Price | $ | 0.14 | |||||||||||||||||||||||||||||||||||||||||||
Exercise Price | $ | 0.15 | |||||||||||||||||||||||||||||||||||||||||||
Expected Life (in years) | 0.75 | ||||||||||||||||||||||||||||||||||||||||||||
Stock Volatility | 110 | % | |||||||||||||||||||||||||||||||||||||||||||
Risk-Free Rate | 0.15 | % | |||||||||||||||||||||||||||||||||||||||||||
Dividend Rate | 0 | % | |||||||||||||||||||||||||||||||||||||||||||
Outstanding Shares of Common Stock | 73,042,764 | ||||||||||||||||||||||||||||||||||||||||||||
Input | 18-Sep-13 | 31-Dec-13 | |||||||||||||||||||||||||||||||||||||||||||
Stock Price | $ | 0.075 | $ | 0.04 | |||||||||||||||||||||||||||||||||||||||||
Exercise Price | $ | 0.06 | $ | 0.06 | |||||||||||||||||||||||||||||||||||||||||
Expected Life (in years) | 0.748 | 0.463 | |||||||||||||||||||||||||||||||||||||||||||
Stock Volatility | 110 | % | 100 | % | |||||||||||||||||||||||||||||||||||||||||
Risk-Free Rate | 0.07 | % | 0.1 | % | |||||||||||||||||||||||||||||||||||||||||
Dividend Rate | 0 | % | 0 | % | |||||||||||||||||||||||||||||||||||||||||
Outstanding Shares of Common Stock | 143,997,066 | 160,664,862 | |||||||||||||||||||||||||||||||||||||||||||
Monte Carlo Simulation Model [Member] | ' | ||||||||||||||||||||||||||||||||||||||||||||
Note 10 - Fair Value Measurements (Tables) [Line Items] | ' | ||||||||||||||||||||||||||||||||||||||||||||
Fair Value Inputs, Liabilities, Quantitative Information [Table Text Block] | ' | ||||||||||||||||||||||||||||||||||||||||||||
Input | 22-Feb-13 | ||||||||||||||||||||||||||||||||||||||||||||
Stock Price (simulated) | $ | 0.1 | |||||||||||||||||||||||||||||||||||||||||||
Exercise Price | $ | 0.2 | |||||||||||||||||||||||||||||||||||||||||||
Expected Life (in years) | 5 | ||||||||||||||||||||||||||||||||||||||||||||
Stock Volatility | 110 | % | |||||||||||||||||||||||||||||||||||||||||||
Risk-Free Rate | 1.158 | % | |||||||||||||||||||||||||||||||||||||||||||
Number of Steps | 10,000 | ||||||||||||||||||||||||||||||||||||||||||||
Input | 18-Sep-13 | 31-Dec-13 | |||||||||||||||||||||||||||||||||||||||||||
Stock Price | $ | 0.071 | $ | 0.04 | |||||||||||||||||||||||||||||||||||||||||
Exercise Price | $ | 0.08 | $ | 0.08 | |||||||||||||||||||||||||||||||||||||||||
Expected Life (in years) | 5 | 4.72 | |||||||||||||||||||||||||||||||||||||||||||
Stock Volatility | 110 | % | 100 | % | |||||||||||||||||||||||||||||||||||||||||
Risk-Free Rate | 1.43 | % | 1.61 | % | |||||||||||||||||||||||||||||||||||||||||
Number of Steps | 100,000 | 100,000 | |||||||||||||||||||||||||||||||||||||||||||
Input | 18-Sep-13 | 31-Dec-13 | |||||||||||||||||||||||||||||||||||||||||||
Stock Price (simulated) | $ | 0.075 | $ | 0.04 | |||||||||||||||||||||||||||||||||||||||||
Exercise Price | $ | 0.08 | $ | 0.08 | |||||||||||||||||||||||||||||||||||||||||
Expected Life (in years) | 0.748 | 0.463 | |||||||||||||||||||||||||||||||||||||||||||
Stock Volatility | 110 | % | 100 | % | |||||||||||||||||||||||||||||||||||||||||
Risk-Free Rate | 0.07 | % | 0.1 | % | |||||||||||||||||||||||||||||||||||||||||
Number of Steps | 10,000 | 10,000 |
Note_11_Income_Taxes_Tables
Note 11 - Income Taxes (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||
Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block] | ' | ||||||||
Year Ended December 31, | |||||||||
2013 | 2012 | ||||||||
Income (loss) before income taxes: | |||||||||
United States | $ | 3,194 | $ | (8,288 | ) | ||||
Foreign | 305 | (99 | ) | ||||||
$ | 3,499 | (8,387 | ) | ||||||
Current income tax benefit from operations: | |||||||||
Federal | $ | -- | $ | -- | |||||
Foreign | -- | -- | |||||||
State | -- | -- | |||||||
$ | -- | $ | -- | ||||||
Deferred income tax benefit/(provision) from operations: | |||||||||
Federal | $ | 1,380 | 2,444 | ||||||
Foreign | (142 | ) | (104 | ) | |||||
State | 172 | (1,437 | ) | ||||||
1,410 | 903 | ||||||||
Change in valuation allowance | (1,410 | ) | (903 | ) | |||||
Total provision for income taxes | $ | — | $ | — | |||||
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | ' | ||||||||
2013 | 2012 | ||||||||
Net federal and state operating loss carryforwards | $ | 22,939 | $ | 24,689 | |||||
Net foreign operating loss carryforwards | 523 | 380 | |||||||
Accrued expenses and reserves | (2 | ) | -- | ||||||
Tax credits | 1,212 | 1,194 | |||||||
Other | 476 | 295 | |||||||
Total deferred tax assets | 25,148 | 26,558 | |||||||
Valuation allowance | (25,148 | ) | (26,558 | ) | |||||
Net deferred tax assets | $ | - | $ | - | |||||
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | ' | ||||||||
2013 | 2012 | ||||||||
Tax provision (benefit) at federal statutory rate | 1,061 | $ | (2,818 | ) | |||||
State income taxes, net of U.S. federal income tax provision (benefit) | 4 | (11 | ) | ||||||
Permanent differences | 46 | 17 | |||||||
Other | 299 | 1,909 | |||||||
Change in valuation allowance | (1,410 | ) | (903 | ) | |||||
Total expense | $ | -- | $ | -- |
Note_1_Business_and_Liquidity_
Note 1 - Business and Liquidity (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Business And Liquidity Disclosure [Abstract] | ' | ' | ' |
Number of Operating Segments | 1 | ' | ' |
Operating Income (Loss) | ($4,704,000) | ($4,125,000) | ' |
Net Cash Provided by (Used in) Operating Activities | -4,804,000 | -3,165,000 | ' |
Retained Earnings (Accumulated Deficit) | -103,615,000 | -107,114,000 | ' |
Cash and Cash Equivalents, at Carrying Value | $769,000 | $258,000 | $2,585,000 |
Note_2_Significant_Accounting_2
Note 2 - Significant Accounting Policies (Details) (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Note 2 - Significant Accounting Policies (Details) [Line Items] | ' | ' |
Number of Wholly Owned Subsidiaries | 2 | ' |
Deferred Revenue, Current (in Dollars) | ' | $317,000 |
Deferred Revenue, Revenue Recognized (in Dollars) | 317,000 | 381,000 |
Artech [Member] | Customer Concentration Risk [Member] | Sales Revenue, Net [Member] | ' | ' |
Note 2 - Significant Accounting Policies (Details) [Line Items] | ' | ' |
Concentration Risk, Percentage | 68.00% | 35.00% |
Artech [Member] | Customer Concentration Risk [Member] | Accounts Receivable [Member] | ' | ' |
Note 2 - Significant Accounting Policies (Details) [Line Items] | ' | ' |
Concentration Risk, Percentage | 83.00% | ' |
ACIST [Member] | Customer Concentration Risk [Member] | Sales Revenue, Net [Member] | ' | ' |
Note 2 - Significant Accounting Policies (Details) [Line Items] | ' | ' |
Concentration Risk, Percentage | 11.00% | 9.00% |
ACIST [Member] | Customer Concentration Risk [Member] | Accounts Receivable [Member] | ' | ' |
Note 2 - Significant Accounting Policies (Details) [Line Items] | ' | ' |
Concentration Risk, Percentage | 3.00% | ' |
Discomed [Member] | Customer Concentration Risk [Member] | Sales Revenue, Net [Member] | ' | ' |
Note 2 - Significant Accounting Policies (Details) [Line Items] | ' | ' |
Concentration Risk, Percentage | 8.00% | 29.00% |
Discomed [Member] | Customer Concentration Risk [Member] | Accounts Receivable [Member] | ' | ' |
Note 2 - Significant Accounting Policies (Details) [Line Items] | ' | ' |
Concentration Risk, Percentage | 0.00% | ' |
Outstanding Warrants, Convertible Notes and Stock Options [Member] | ' | ' |
Note 2 - Significant Accounting Policies (Details) [Line Items] | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in Shares) | 248,336,287 | 47,096,000 |
Options and Warrants [Member] | ' | ' |
Note 2 - Significant Accounting Policies (Details) [Line Items] | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in Shares) | 40,711,000 | ' |
Prepaid Expenses and Other Current Assets [Member] | ' | ' |
Note 2 - Significant Accounting Policies (Details) [Line Items] | ' | ' |
Deferred Costs, Current (in Dollars) | ' | $85,000 |
Note_2_Significant_Accounting_3
Note 2 - Significant Accounting Policies (Details) - Net Sales to Unaffiliated Customers (by origin) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Segment Reporting Information [Line Items] | ' | ' |
Net sales | $1,274 | $1,080 |
South America [Member] | ' | ' |
Segment Reporting Information [Line Items] | ' | ' |
Net sales | 96 | 312 |
North America [Member] | ' | ' |
Segment Reporting Information [Line Items] | ' | ' |
Net sales | 31 | 35 |
Europe [Member] | ' | ' |
Segment Reporting Information [Line Items] | ' | ' |
Net sales | 1,040 | 588 |
Other Geographic Area [Member] | ' | ' |
Segment Reporting Information [Line Items] | ' | ' |
Net sales | $107 | $145 |
Note_2_Significant_Accounting_4
Note 2 - Significant Accounting Policies (Details) - Useful Lives | 12 Months Ended |
Dec. 31, 2013 | |
Equipment [Member] | ' |
Note 2 - Significant Accounting Policies (Details) - Useful Lives [Line Items] | ' |
Property, plant and equipment | '5 years |
Equipment [Member] | Minimum [Member] | ' |
Note 2 - Significant Accounting Policies (Details) - Useful Lives [Line Items] | ' |
Property, plant and equipment | '2 years |
Furniture and Fixtures [Member] | Maximum [Member] | ' |
Note 2 - Significant Accounting Policies (Details) - Useful Lives [Line Items] | ' |
Property, plant and equipment | '5 years |
Note_2_Significant_Accounting_5
Note 2 - Significant Accounting Policies (Details) - Earnings Per Share (USD $) | 12 Months Ended | |
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Earnings Per Share [Abstract] | ' | ' |
Net income (loss) (in Dollars) | $3,499 | ($8,387) |
Net income (loss) available to common stockholders, plus assumed conversions (in Dollars) | $3,499 | ($8,387) |
Basic weighted-average shares outstanding | 77,061 | 31,139 |
Right to shares | 35,667 | ' |
Weighted-average shares-diluted | 112,728 | 31,139 |
Net income per share-basic (in Dollars per share) | $0.05 | ($0.27) |
Net income per share-diluted (in Dollars per share) | $0.03 | ' |
Note_3_Inventories_Details_Inv
Note 3 - Inventories (Details) - Inventories (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Inventories [Abstract] | ' | ' |
Raw materials | $80 | $143 |
Finished goods | 37 | 39 |
$117 | $182 |
Note_4_Equipment_Furniture_and2
Note 4 - Equipment, Furniture and Leasehold Improvements (Details) (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Property, Plant and Equipment [Abstract] | ' | ' |
Depreciation | $53,000 | $43,000 |
Note_4_Equipment_Furniture_and3
Note 4 - Equipment, Furniture and Leasehold Improvements (Details) - Equipment, Furniture and Leasehold Improvements (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Equipment, Furniture and Leasehold Improvements [Abstract] | ' | ' |
Equipment | $509 | $488 |
Office furniture and fixtures | 218 | 218 |
Leasehold improvements | 4 | 4 |
731 | 710 | |
Less accumulated depreciation and amortization | 694 | 643 |
$37 | $67 |
Note_6_Stock_Based_Compensatio2
Note 6 - Stock Based Compensation (Details) (USD $) | 12 Months Ended | 12 Months Ended | 12 Months Ended | |||||||||||||||||||||||||||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Jun. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | |
Initial Grant [Member] | Annually [Member] | Quarterly [Member] | Non Qualified Stock Options [Member] | Non Qualified Stock Options [Member] | Employee Stock Option [Member] | Employee Stock Option [Member] | Employee Stock Option [Member] | Employee Stock Option [Member] | Employee Stock Option [Member] | Employee Stock Option [Member] | Stock Options Performance Based Vesting [Member] | Restricted Stock [Member] | Restricted Stock [Member] | Restricted Stock [Member] | Restricted Stock [Member] | 2005 Plan [Member] | 2005 Plan [Member] | 2005 Plan [Member] | 2005 Plan [Member] | 2005 Plan [Member] | 2005 Plan [Member] | 2005 Plan [Member] | 2005 Plan [Member] | The 2013 Plan [Member] | Employee Stock Purchase Plan 2000 [Member] | Minimum [Member] | Minimum [Member] | |||
Employee Stock Option [Member] | 2005 Plan [Member] | 2005 Plan [Member] | 2005 Plan [Member] | The 2013 Plan [Member] | 2005 Plan [Member] | 2005 Plan [Member] | 2005 Plan [Member] | 2005 Plan [Member] | The 2013 Plan [Member] | 2005 Plan [Member] | 2005 Plan [Member] | 2005 Plan [Member] | Non Employee Directors [Member] | Non Employee Directors [Member] | Non Employee Directors [Member] | Non Employee Directors [Member] | Non Employee Directors [Member] | Employees [Member] | Employees [Member] | |||||||||||
2005 Plan [Member] | Board of Directors Chairman [Member] | Non Employee Directors [Member] | Minimum [Member] | Minimum [Member] | Non Employee Directors [Member] | Board of Directors Chairman [Member] | Employees [Member] | Employees [Member] | Employees [Member] | Garden State Securities and JFS Investments [Member] | Garden State Securities and JFS Investments [Member] | Quarterly [Member] | Quarterly [Member] | |||||||||||||||||
Non Employee Directors [Member] | ||||||||||||||||||||||||||||||
Note 6 - Stock Based Compensation (Details) [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Purchase Price of Common Stock, Percent | ' | ' | ' | ' | ' | 85.00% | 85.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 95.00% | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 11,382,600 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 294,461 | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | ' | ' | '3 years | ' | '1 year | ' | ' | ' | ' | '3 years | '3 years | ' | ' | ' | ' | ' | ' | ' | '1 year | '1 year | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share Based Compensation Arrangement by Share Based Payment Award, Number of Equal Quarterly Installments for Award Vesting | ' | ' | ' | ' | ' | ' | ' | 4 | 4 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 5,639,000 | 468,000 | ' | 45,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 565,000 | ' | ' | ' | ' | ' | ' | 589,000 | 112,500 | 112,500 | 5,050,000 | 355,000 | ' | ' | ' | ' | ' |
Share Based Compensation Arrangement by Share Based Payment Award Options Cancelled in Period | 502,000 | 475,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 502,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Goods and Nonemployee Services Transaction, Quantity of Securities Issued | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 416,668 | 2,083,338 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share Based Compensation Arrangement by Share Based Payment Award, Equity Instruments Other than Options Lock In Period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '6 months | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Allocated Share-based Compensation Expense (in Dollars) | $145,000 | $80,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $56,000 | $464,000 | $56,000 | $464,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,317,000 | 6,266,000 | ' | ' | ' |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Stock Options (in Dollars) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $333,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '1 year 288 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value (in Dollars per share) | $0.09 | $0.16 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.07 | $0.12 |
Period of Intervals for Subscription of Shares Common Stock | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '6 months | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Maximum Employee Subscription Rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10.00% | ' | ' |
Note_6_Stock_Based_Compensatio3
Note 6 - Stock Based Compensation (Details) - Summary of Option Activity Under All Plans (USD $) | 12 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2010 |
Summary of Option Activity Under All Plans [Abstract] | ' | ' | ' |
Number of Options | 5,592 | ' | 5,602 |
Weighted Average Exercise Price | $0.21 | ' | $0.21 |
Average Remaining Contractual Life (Years) | '5 years 193 days | ' | ' |
Aggregate Intrinsic Value | $0 | ' | ' |
Exercisable, December 31, 2013 | 5,386 | ' | ' |
Exercisable, December 31, 2013 | $0.19 | ' | ' |
Exercisable, December 31, 2013 | '2 years 29 days | ' | ' |
Exercisable, December 31, 2013 | $0 | ' | ' |
Granted, Number of Options | 5,639 | 468 | ' |
Granted, Weighted Average Exercise Price | $0.09 | $0.17 | ' |
Forfeited, Number of Options | -643 | -3 | ' |
Forfeited, Weighted Average Exercise Price | $0.10 | $0.55 | ' |
Cancelled, Number of Options | -502 | -475 | ' |
Cancelled, Weighted Average Exercise Price | $0.16 | $0.24 | ' |
Number of Options | 10,086 | 5,592 | 5,602 |
Weighted Average Exercise Price | $0.15 | $0.21 | $0.21 |
Note_6_Stock_Based_Compensatio4
Note 6 - Stock Based Compensation (Details) - Summary of Assumptions Used for Weighted Average Fair Value of Options Issued (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Note 6 - Stock Based Compensation (Details) - Summary of Assumptions Used for Weighted Average Fair Value of Options Issued [Line Items] | ' | ' |
Value of option granted (in Dollars per share) | $0.09 | $0.16 |
Minimum [Member] | ' | ' |
Note 6 - Stock Based Compensation (Details) - Summary of Assumptions Used for Weighted Average Fair Value of Options Issued [Line Items] | ' | ' |
Expected life (years) | '3 years | '5 years |
Interest rate | 0.73% | 0.19% |
Volatility | 195.75% | 204.10% |
Value of option granted (in Dollars per share) | $0.07 | $0.12 |
Maximum [Member] | ' | ' |
Note 6 - Stock Based Compensation (Details) - Summary of Assumptions Used for Weighted Average Fair Value of Options Issued [Line Items] | ' | ' |
Expected life (years) | '6 years | '6 years |
Interest rate | 1.67% | 0.69% |
Volatility | 217.52% | 216.20% |
Value of option granted (in Dollars per share) | $0.09 | $0.17 |
Note_7_Commitments_Details
Note 7 - Commitments (Details) (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Commitments and Contingencies Disclosure [Abstract] | ' | ' |
Operating Leases, Future Minimum Payments Due, Next Twelve Months | $30,000 | ' |
Operating Leases, Rent Expense, Net | $40,000 | $40,000 |
Number of Separate Outside Contract Manufacturers | 2 | ' |
Note_8_Sale_of_Common_Stock_De
Note 8 - Sale of Common Stock (Details) (USD $) | 1 Months Ended | 3 Months Ended | 12 Months Ended | 1 Months Ended | 9 Months Ended | 1 Months Ended | 9 Months Ended | 1 Months Ended | 2 Months Ended | 1 Months Ended | 12 Months Ended | 12 Months Ended | 1 Months Ended | 10 Months Ended | 12 Months Ended | 12 Months Ended | ||||||||||||
Sep. 30, 2013 | Feb. 28, 2013 | Dec. 31, 2013 | Sep. 30, 2013 | Dec. 31, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2013 | Feb. 28, 2013 | Feb. 28, 2013 | Feb. 28, 2013 | Feb. 28, 2013 | Dec. 31, 2013 | Feb. 28, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Sep. 18, 2013 | Dec. 31, 2013 | Sep. 18, 2013 | Feb. 28, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Feb. 22, 2013 | Dec. 31, 2013 | Feb. 22, 2013 | |
September 2013 SPA [Member] | September 2013 SPA [Member] | September 2013 SPA [Member] | September 2013 SPA [Member] | September 2013 SPA [Member] | September 2013 SPA [Member] | February 2013 SPA [Member] | February 2013 SPA [Member] | February 2013 SPA [Member] | February 2013 SPA [Member] | February 2013 SPA [Member] | Additional Issurance Due To Anti-Dilutive Provisions [Member] | February 2013 SPA Option [Member] | September 2013 Warrants [Member] | September 2013 Warrants [Member] | September 2013 SPA Option [Member] | September 2013 SPA Option [Member] | February 2013 Warrants [Member] | February 2013 Warrants [Member] | February 2013 Warrants [Member] | February 2013 Warrants [Member] | February 2013 SPA Option [Member] | February 2013 SPA Option [Member] | ||||||
Warrant Issued For Placement Agent Services [Member] | September 2013 Warrants [Member] | September 2013 Warrants [Member] | Warrant Issued For Placement Agent Services [Member] | February 2013 Warrants [Member] | ||||||||||||||||||||||||
Note 8 - Sale of Common Stock (Details) [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock Issued During Period, Shares, New Issues (in Shares) | ' | ' | ' | ' | ' | ' | ' | ' | 29,166,668 | ' | ' | ' | ' | ' | 26,933,333 | ' | 40,400,001 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Sale of Stock, Price Per Share (in Dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | $0.06 | $0.06 | ' | ' | ' | $0.15 | $0.15 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in Shares) | ' | ' | ' | ' | ' | 1,485,333 | 30,625,001 | 30,625,001 | 29,166,668 | 29,166,668 | ' | 1,885,333 | 28,818,666 | 26,933,333 | 26,933,333 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds from Issuance or Sale of Equity | ' | ' | ' | ' | ' | ' | ' | ' | $1,750,000 | ' | ' | ' | ' | ' | $4,040,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds from Issuance or Sale of Equity, Net | ' | ' | ' | ' | ' | ' | ' | ' | 1,575,000 | ' | ' | ' | ' | ' | 3,504,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Term To Hold Share Purchase | ' | ' | ' | ' | ' | ' | ' | ' | '24 months | ' | ' | ' | ' | '24 months | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
(in Shares) | ' | ' | 35,666,000 | ' | 35,666,000 | ' | ' | ' | 16,666,667 | 16,666,667 | ' | ' | ' | 7,000,000 | 7,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Right To Purchase Common Stock Shares (in Shares) | ' | ' | ' | ' | ' | ' | ' | ' | 16,666,667 | ' | ' | ' | ' | 7,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Delivery Period for Common Shares Upon Investors' Request | '3 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '3 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common Stock, Capital Shares Reserved for Future Issuance (in Shares) | ' | ' | 35,666,000 | ' | 35,666,000 | ' | ' | ' | ' | ' | 16,666,667 | ' | ' | ' | ' | 19,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of Common Shares Available for Purchase at Initial Closing | ' | ' | ' | ' | ' | ' | ' | ' | ' | 50.00% | ' | ' | ' | 50.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Class of Warrant or Right Exercise Period of Warrants or Rights | ' | ' | ' | ' | ' | ' | ' | '5 years | ' | ' | ' | ' | ' | '5 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Class of Warrant or Right, Exercise Price of Warrants or Rights (in Dollars per Item) | ' | ' | ' | ' | ' | ' | 0.08 | 0.08 | ' | ' | ' | ' | 0.2 | ' | ' | ' | ' | ' | 0.08 | 0.08 | 0.06 | 0.06 | ' | 0.08 | 0.08 | 0.2 | ' | 0.15 |
Class of Warrant or Right Period for Presenting Effective Registration Statement for Avoiding Cashless Exercise of Warrants or Rights | ' | ' | ' | ' | ' | ' | '180 days | ' | ' | ' | ' | ' | '180 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Limitation of Beneficially Owned Percentage of Common Stock for Exercise of Warrants | ' | ' | ' | ' | ' | ' | 4.99% | 4.99% | ' | ' | ' | ' | 4.99% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Discretionary Increase in Limitation of Beneficially Owned Percentage of Common Stock for Exercise of Warrants | ' | ' | ' | ' | ' | ' | 9.99% | 9.99% | ' | ' | ' | ' | 9.99% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Notice Period for Discretionary Increase in Limitation of Beneficially Owned Percentage of Common Stock for Exercise of Warrants | ' | ' | ' | ' | ' | ' | '61 days | ' | ' | ' | ' | ' | '61 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Warrants Grant Date Fair Value | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,211,000 | 1,807,000 | ' | 1,166,000 | ' | ' | 2,759,000 | 2,759,000 | ' | ' | ' |
Derivative Liability, Fair Value, Gross Liability | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 627,000 | ' | 292,000 | ' | ' | 1,441,000 | 1,441,000 | ' | 0 | ' |
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Inputs Reconciliation, Gain (Loss) Included in Earnings | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,180,000 | ' | 874,000 | ' | ' | ' | 1,318,000 | ' | 1,211,000 | ' |
(in Shares) | ' | ' | 35,666,000 | ' | 35,666,000 | ' | ' | ' | 16,666,667 | 16,666,667 | ' | ' | ' | 7,000,000 | 7,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
(in Shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 43,228,001 | 43,228,001 | ' | ' | ' | ' |
(in Dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.08 | $0.08 | ' | ' | ' | ' |
Net Proceeds Used For Investor Relations | ' | ' | ' | ' | 1,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Payments For Investor Relations | ' | 500,000 | 220,000 | 250,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Restricted Cash and Cash Equivalents, Current | ' | ' | 30,000 | ' | 30,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Investor Relations Payments Amortization Period | ' | ' | ' | ' | '1 year | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Investor Relations Services Aggregate Fees | ' | ' | ' | ' | $970,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Note_8_Sale_of_Common_Stock_De1
Note 8 - Sale of Common Stock (Details) - Summary of SPA Options and Warrants (USD $) | Dec. 31, 2013 | Sep. 18, 2013 | Dec. 31, 2013 | Sep. 18, 2013 | Dec. 31, 2013 | Feb. 22, 2013 | Feb. 28, 2013 | Dec. 31, 2013 | Feb. 22, 2013 |
September 2013 SPA Option [Member] | September 2013 SPA Option [Member] | September 2013 Warrants [Member] | September 2013 Warrants [Member] | February 2013 SPA Option [Member] | February 2013 SPA Option [Member] | February 2013 Warrants [Member] | February 2013 Warrants [Member] | February 2013 Warrants [Member] | |
Class of Warrant or Right [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Balance | 14,583,334 | 14,583,334 | 30,625,001 | 30,625,001 | ' | 13,466,667 | ' | 72,046,667 | 28,818,666 |
Exercise price of warrants (in Dollars per Item) | 0.06 | 0.06 | 0.08 | 0.08 | ' | 0.15 | ' | 0.08 | 0.2 |
Add: Anti-dilution adjustment | ' | ' | ' | ' | ' | ' | 43,228,001 | 43,228,001 | ' |
Add: Anti-dilution adjustment (in Dollars per share) | ' | ' | ' | ' | ' | ' | $0.08 | $0.08 | ' |
Less: Expired | ' | ' | ' | ' | -13,466,667 | ' | ' | ' | ' |
Less: Expired (in Dollars per share) | ' | ' | ' | ' | $0.15 | ' | ' | ' | ' |
Note_9_Convertible_Notes_and_W2
Note 9 - Convertible Notes and Warrant Liabilities (Details) (USD $) | 1 Months Ended | 12 Months Ended | 1 Months Ended | 9 Months Ended | 2 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | 6 Months Ended | 12 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | 12 Months Ended | 6 Months Ended | |||||||||||||||||||||||||||||||||
Feb. 22, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Sep. 18, 2013 | Jan. 16, 2013 | Dec. 31, 2011 | Feb. 22, 2013 | Feb. 22, 2013 | Sep. 18, 2013 | Sep. 18, 2013 | Feb. 22, 2013 | Dec. 31, 2013 | Sep. 18, 2013 | Jan. 16, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Feb. 22, 2011 | Feb. 22, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Jul. 02, 2012 | Dec. 31, 2012 | Jul. 02, 2012 | Jan. 16, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Sep. 18, 2013 | Feb. 22, 2013 | Jan. 16, 2013 | Jul. 02, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Feb. 22, 2011 | Feb. 22, 2011 | Feb. 22, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Sep. 18, 2012 | Dec. 31, 2011 | Feb. 22, 2011 | Dec. 31, 2012 | Feb. 22, 2011 | Feb. 22, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Sep. 18, 2013 | Feb. 22, 2013 | Dec. 31, 2013 | Sep. 18, 2013 | Jan. 16, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | |
Securities Purchase Agreement [Member] | February 2013 Amendment and Waiver Agreement [Member] | February 2013 Amendment and Waiver Agreement [Member] | February 2013 Amendment and Waiver Agreement [Member] | 2011 Warrants [Member] | 2011 Warrants [Member] | 2011 Warrants [Member] | 2011 Warrants [Member] | 2011 Warrants [Member] | 2011 Warrants [Member] | 2011 Warrants [Member] | 2012 $0.15 Warrants [Member] | 2012 $0.15 Warrants [Member] | 2012 $0.15 Warrants [Member] | 2012 $0.15 Warrants [Member] | 2012 $0.25 Warrants [Member] | 2012 $0.25 Warrants [Member] | Third Tranche Warrants [Member] | Third Tranche Warrants [Member] | 2012 Warrants [Member] | 2012 Warrants [Member] | 2012 Warrants [Member] | 2012 Warrants [Member] | 2012 Warrants [Member] | 2012 Warrants [Member] | 2012 Convertible Notes [Member] | 2012 Convertible Notes [Member] | First Tranche [Member] | Second Tranche [Member] | 2011 Convertible Notes [Member] | 2011 Convertible Notes [Member] | 2011 Convertible Notes [Member] | 2011 Convertible Notes [Member] | 2011 Convertible Notes [Member] | 2011 Convertible Notes [Member] | Convertible Notes [Member] | Convertible Notes [Member] | 2012 Convertible Notes [Member] | 2012 Convertible Notes [Member] | 2012 Convertible Notes [Member] | 2012 Convertible Notes [Member] | Third Tranche Convertible Notes [Member] | Third Tranche Convertible Notes [Member] | Third Tranche Convertible Notes [Member] | Third Tranche Convertible Notes [Member] | Third Tranche Convertible Notes [Member] | 2011 Warrants [Member] | 2011 Warrants [Member] | Third Tranche Warrants [Member] | |||||||
Warrants 2011 and 2012 [Member] | Warrants 2011 and 2012 [Member] | Warrants 2011 and 2012 [Member] | Convertible Notes [Member] | 2012 Convertible Notes [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||
Note 9 - Convertible Notes and Warrant Liabilities (Details) [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Interest Rate, Stated Percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5.00% | ' | ' | ' | ' |
Debt Instrument, Face Amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $4,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Class of Warrant or Right, Outstanding (in Shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 17,940,780 | ' | ' | 40,000,000 | ' | 40,000,000 | ' | 7,065,255 | 10,000,000 | ' | 10,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Class of Warrant or Right, Exercise Price of Warrants or Rights (in Dollars per Item) | ' | ' | ' | ' | ' | ' | ' | 0.098 | ' | ' | 0.098 | 0.098 | ' | ' | 0.15 | ' | 0.15 | 0.098 | 0.098 | 0.15 | 0.15 | 0.25 | 0.25 | 0.15 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument Additional Debt Funding from Investors | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,000,000 | 1,000,000 | ' | ' | ' | ' | ' | 2,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of Tranches | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amount of additional debt funding available in each separate tranche | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in Shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10,000,000 | ' | 10,000,000 | 2,500,000 | ' | ' | ' | ' | ' | ' | 20,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Convertible Debt | ' | 4,494,355 | 5,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 250,000 | ' | ' | ' | ' |
Class of Warrant or Right Exercise Period of Warrants or Rights | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '5 years | ' | '5 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Class of Warrant or Right Number of Shares Exercisable Under Warrants (in Shares) | ' | ' | ' | ' | ' | ' | 50,000,000 | 81,578,946 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Class of Warrant or Right Volume Weighted Average Price of Warrants or Rights (in Dollars per share) | ' | ' | ' | ' | ' | ' | ' | $0.16 | $0.37 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights Under Forfeiture (in Shares) | ' | ' | ' | ' | ' | ' | ' | 12,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument Relinquishment of Right to Purchase Amount, Maximum | ' | ' | ' | ' | ' | ' | ' | 750,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Convertible, Conversion Price (in Dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.06 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.06 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest Payable | ' | 144,000 | 8,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument Period Considered in Year for Calculation of Interest | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '360 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Conversion, Converted Instrument, Amount | ' | 810,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 755,645 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Conversion, Converted Instrument, Shares Issued (in Shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 8,304,837 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long Term Debt Percentage of Outstanding Principal Amount Redeemed under Change of Control | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 130.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long Term Debt Percentage of Accrued and Unpaid Interest | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Class of Warrant or Right Warrants Issued (in Shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 65,263,156 | 65,263,156 | ' | ' | ' | ' | ' | 16,315,790 | 16,315,790 | ' | ' | ' | ' | 2,500,000 | 2,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Payment to Warrant Holders as Percentage of Exercise Price | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 30.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
(in Shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 47,322,376 | ' | ' | ' | ' | ' | ' | 9,250,535 | ' | ' | ' | ' | ' | ' | ' | 9,250,535 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 47,322,376 | ' | ' |
Common Stock Shares Issued Upon Conversion of Warrants (in Shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 19,608,926 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,401,809 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 19,609,000 | ' | ' |
(in Shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 47,322,376 | ' | ' | ' | ' | ' | ' | 9,250,535 | ' | ' | ' | ' | ' | ' | ' | 9,250,535 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 47,322,376 | ' | ' |
Gains (Losses) on Extinguishment of Debt | ' | -3,274,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | -1,916,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 300,000 | ' | ' | ' | ' | ' | ' | 168,000 | ' | ' | ' | ' | -1,362,000 | ' | ' | ' | ' | ' | ' | ' | -355,000 | ' | ' | ' | -109,000 | ' | ' | ' | ' | ' | ' |
Long-term Debt, Gross | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,208,000 | ' | ' | 417,000 | ' | ' | ' | ' | 142,000 | ' | ' | ' | ' |
Debt Instrument, Unamortized Discount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 792,000 | ' | ' | ' | ' | ' | 583,000 | ' | ' | ' | ' | ' | 108,000 | ' | ' | ' |
Amortization of Debt Discount (Premium) | 95,000 | 95,000 | 331,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 38,000 | ' | 265,000 | ' | ' | ' | ' | ' | 55,000 | ' | 66,000 | ' | 2,000 | ' | ' | ' | ' | ' | ' | ' |
Change in Fair Value of Convertible Notes | ' | 4,814,000 | -2,024,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,810,000 | 918,000 | ' | ' | ' | ' | ' | ' | 988,000 | 1,105,000 | ' | ' | 16,000 | ' | ' | ' | ' | ' | ' |
Convertible Debt, Fair Value Disclosures | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6,070,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 386,000 | ' | ' | ' | ' | ' | ' | ' |
Write-off of Debt Discount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 265,000 | ' | ' | ' | ' | ' | ' | ' | 462,000 | ' | ' | ' | 106,000 | ' | ' | ' | ' | ' | ' | ' |
Financial and Nonfinancial Liabilities, Fair Value Disclosure | 17,490,000 | 7,217,000 | 11,898,000 | 13,537,000 | 12,592,000 | 6,927,000 | ' | ' | ' | ' | 3,916,000 | 179,000 | 1,048,000 | 2,000,000 | 2,000,000 | 1,600,000 | ' | ' | ' | ' | ' | ' | ' | 300,000 | ' | 1,800,000 | 141,000 | 424,000 | 1,632,000 | 1,800,000 | ' | ' | ' | ' | ' | ' | ' | ' | 4,920,000 | ' | ' | ' | ' | 1,516,000 | ' | ' | 1,390,000 | ' | ' | 361,000 | ' | ' | ' | ' | ' |
Derivative Liability, Fair Value, Gross Liability | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 179,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 300,000 | ' | ' | ' | ' | ' | ' | ' | 141,000 | ' | ' | ' | ' | 3,290,000 | ' | ' | ' | ' | ' | ' | ' | 1,010,000 | ' | ' | ' | 237,000 | ' | 394,000 | ' | 2,417,000 | ' | ' |
Stock Issued During Period, Value, Conversion of Convertible Securities | ' | 810,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 238,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 810,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Change in Fair Value of Warrant Liabilities | ' | 6,964,000 | -1,617,000 | ' | ' | ' | ' | ' | ' | ' | ' | 1,320,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 192,000 | ' | ' | ' | ' | ' | ' | 1,253,000 | 1,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 918,000 | ' |
(in Shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 47,322,376 | ' | ' | ' | ' | ' | ' | 9,250,535 | ' | ' | ' | ' | ' | ' | ' | 9,250,535 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 47,322,376 | ' | ' |
Proceeds from Convertible Debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 108,000 |
Debt Issuance Cost | ' | ' | $80,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Note_9_Convertible_Notes_and_W3
Note 9 - Convertible Notes and Warrant Liabilities (Details) - Summary of Warrants Outstanding (USD $) | 2 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | |||
Feb. 22, 2013 | Dec. 31, 2013 | Feb. 22, 2011 | Feb. 22, 2013 | Dec. 31, 2013 | Jul. 02, 2012 | Dec. 31, 2013 | Jul. 02, 2012 | Jan. 16, 2013 | Dec. 31, 2013 | |
2011 Warrants [Member] | 2011 Warrants [Member] | 2011 Warrants [Member] | 2012 $0.15 Warrants [Member] | 2012 $0.15 Warrants [Member] | 2012 $0.15 Warrants [Member] | 2012 $0.25 Warrants [Member] | 2012 $0.25 Warrants [Member] | Third Tranche Warrants [Member] | Third Tranche Warrants [Member] | |
Class of Warrant or Right [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Balance | 40,000,000 | 40,000,000 | 40,000,000 | ' | 10,000,000 | ' | 10,000,000 | ' | ' | ' |
Exercise price of warrants (in Dollars per Item) | 0.15 | 0.15 | 0.15 | ' | 0.15 | 0.15 | 0.25 | 0.25 | ' | ' |
Less: Canceled | ' | -40,000,000 | ' | ' | -10,000,000 | ' | -10,000,000 | ' | ' | -2,500,000 |
Exercise price of warrants cancelled (in Dollars per share) | ' | $0.15 | ' | ' | $0.15 | ' | $0.25 | ' | ' | $0.15 |
Add: Issued | 65,263,156 | 65,263,156 | ' | 16,315,790 | 16,315,790 | ' | ' | ' | 2,500,000 | 2,500,000 |
Exercise price of warrants issued (in Dollars per share) | ' | $0.10 | ' | ' | $0.10 | ' | ' | ' | ' | $0.15 |
Exercise price of warrants exercised (in Dollars per share) | ' | $0.10 | ' | ' | $0.10 | ' | ' | ' | ' | ' |
Less: Exercised | ' | -47,322,376 | ' | ' | -9,250,535 | ' | ' | ' | ' | ' |
Balance | ' | 17,940,780 | 40,000,000 | ' | 7,065,255 | ' | ' | ' | ' | ' |
Exercise price of warrants (in Dollars per Item) | 0.098 | 0.098 | 0.15 | 0.098 | 0.098 | 0.15 | ' | 0.25 | 0.15 | ' |
Note_10_Fair_Value_Measurement2
Note 10 - Fair Value Measurements (Details) (USD $) | Dec. 31, 2013 |
Note 10 - Fair Value Measurements (Details) [Line Items] | ' |
Control Redemption Amount Summation Component, Outstanding Principal Balance, Percentage | 130.00% |
Control Redemption Amount Summation Component, Accrued And Unpaid Interest, Percentage | 100.00% |
2012 $0.15 Warrants [Member] | ' |
Note 10 - Fair Value Measurements (Details) [Line Items] | ' |
Fair Value Assumptions, Exercise Price (in Dollars per share) | 0.15 |
2012 $0.25 Warrants [Member] | ' |
Note 10 - Fair Value Measurements (Details) [Line Items] | ' |
Fair Value Assumptions, Exercise Price (in Dollars per share) | 0.25 |
February 2013 SPA Option [Member] | ' |
Note 10 - Fair Value Measurements (Details) [Line Items] | ' |
Options Exercised, Right To Purchase Common Stock, Number Of Shares | 1 |
Options Exercised, Right To Purchase Common Stock Warrants, Number Of Warrants | 1 |
September 2013 SPA Option [Member] | ' |
Note 10 - Fair Value Measurements (Details) [Line Items] | ' |
Options Exercised, Right To Purchase Common Stock, Number Of Shares | 1 |
Options Exercised, Right To Purchase Common Stock Warrants, Number Of Warrants | 1 |
Note_10_Fair_Value_Measurement3
Note 10 - Fair Value Measurements (Details) - Assets and Liabilities Measured at Fair Value (USD $) | Dec. 31, 2013 | Sep. 18, 2013 | Feb. 22, 2013 | Jan. 16, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Liabilities | ' | ' | ' | ' | ' | ' |
Convertible notes | $4,537,000 | ' | ' | ' | $8,098,000 | ' |
Warrant and option liabilities | 2,680,000 | ' | ' | ' | ' | ' |
Warrant liabilities | 2,680,000 | ' | ' | ' | 3,800,000 | ' |
Total Liabilities | 7,217,000 | 13,537,000 | 17,490,000 | 12,592,000 | 11,898,000 | 6,927,000 |
Fair Value, Inputs, Level 3 [Member] | ' | ' | ' | ' | ' | ' |
Liabilities | ' | ' | ' | ' | ' | ' |
Convertible notes | 4,537,000 | ' | ' | ' | 8,098,000 | ' |
Warrant and option liabilities | 2,680,000 | ' | ' | ' | ' | ' |
Warrant liabilities | ' | ' | ' | ' | 3,800,000 | ' |
Total Liabilities | $7,217,000 | ' | ' | ' | $11,898,000 | ' |
Note_10_Fair_Value_Measurement4
Note 10 - Fair Value Measurements (Details) - Summary of Changes in Convertible Notes, Warrants, Options (USD $) | 0 Months Ended | 1 Months Ended | 3 Months Ended | 7 Months Ended | 12 Months Ended | |
Jan. 16, 2013 | Feb. 22, 2013 | Dec. 31, 2013 | Sep. 18, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ' | ' | ' | ' |
Balance | $11,898,000 | $12,592,000 | $13,537,000 | $17,490,000 | $11,898,000 | $6,927,000 |
Amortization of debt discount | ' | 95,000 | ' | ' | 95,000 | 331,000 |
Allocation of initial proceeds | 250,000 | ' | ' | ' | ' | 1,000,000 |
Fair value adjustment | 444,000 | -450,000 | -5,933,000 | -5,839,000 | ' | 3,640,000 |
31-Dec-13 | 12,592,000 | 17,490,000 | 7,217,000 | 13,537,000 | 7,217,000 | 11,898,000 |
Carrying value of old debt at modification | ' | -8,137,000 | ' | -4,680,000 | ' | ' |
Fair value of new debt at modification | ' | 7,972,000 | ' | 6,671,000 | ' | ' |
Conversion of debentures and warrants | ' | ' | -387,000 | -3,078,000 | ' | ' |
Modification of warrants | ' | 2,548,000 | ' | ' | ' | ' |
Cancellation/retirement of warrants | ' | -1,100,000 | ' | ' | ' | ' |
Fair value of instruments at issuance | ' | 3,970,000 | ' | 2,973,000 | ' | ' |
2011 Warrants [Member] | ' | ' | ' | ' | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ' | ' | ' | ' |
Balance | ' | 2,000,000 | 1,048,000 | 3,916,000 | ' | 1,600,000 |
Fair value adjustment | ' | ' | -604,000 | -716,000 | ' | 400,000 |
31-Dec-13 | ' | 3,916,000 | 179,000 | 1,048,000 | 179,000 | 2,000,000 |
Conversion of debentures and warrants | ' | ' | -265,000 | -2,152,000 | ' | ' |
Modification of warrants | ' | 1,916,000 | ' | ' | ' | ' |
2012 Warrants [Member] | ' | ' | ' | ' | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ' | ' | ' | ' |
Balance | ' | 1,800,000 | 424,000 | 1,632,000 | ' | ' |
Allocation of initial proceeds | ' | ' | ' | ' | ' | 583,000 |
Fair value adjustment | ' | ' | -283,000 | -970,000 | ' | 1,217,000 |
31-Dec-13 | ' | 1,632,000 | 141,000 | 424,000 | 141,000 | 1,800,000 |
Conversion of debentures and warrants | ' | ' | ' | -238,000 | ' | ' |
Modification of warrants | ' | 632,000 | ' | ' | ' | ' |
Cancellation/retirement of warrants | ' | -800,000 | ' | ' | ' | ' |
Third Tranche Warrants [Member] | ' | ' | ' | ' | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ' | ' | ' | ' |
Balance | ' | 300,000 | ' | ' | ' | ' |
Allocation of initial proceeds | 108,000 | ' | ' | ' | ' | ' |
Fair value adjustment | 192,000 | ' | ' | ' | ' | ' |
31-Dec-13 | 300,000 | ' | ' | ' | ' | ' |
Cancellation/retirement of warrants | ' | -300,000 | ' | ' | ' | ' |
February 2013 Warrants [Member] | ' | ' | ' | ' | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ' | ' | ' | ' |
Balance | ' | ' | 2,017,000 | 2,759,000 | ' | ' |
Fair value adjustment | ' | ' | -576,000 | -742,000 | ' | ' |
31-Dec-13 | ' | 2,759,000 | 1,441,000 | 2,017,000 | 1,441,000 | ' |
Fair value of instruments at issuance | ' | 2,759,000 | ' | ' | ' | ' |
February 2013 SPA Option [Member] | ' | ' | ' | ' | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ' | ' | ' | ' |
Balance | ' | ' | 404,000 | 1,211,000 | ' | ' |
Fair value adjustment | ' | ' | -404,000 | -807,000 | ' | ' |
31-Dec-13 | ' | 1,211,000 | ' | 404,000 | ' | ' |
Fair value of instruments at issuance | ' | 1,211,000 | ' | ' | ' | ' |
September 2013 Warrants [Member] | ' | ' | ' | ' | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ' | ' | ' | ' |
Balance | ' | ' | 1,807,000 | ' | ' | ' |
Fair value adjustment | ' | ' | -1,180,000 | ' | ' | ' |
31-Dec-13 | ' | ' | 627,000 | 1,807,000 | 627,000 | ' |
Fair value of instruments at issuance | ' | ' | ' | 1,807,000 | ' | ' |
September 2013 SPA Option [Member] | ' | ' | ' | ' | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ' | ' | ' | ' |
Balance | ' | ' | 1,166,000 | ' | ' | ' |
Fair value adjustment | ' | ' | -874,000 | ' | ' | ' |
31-Dec-13 | ' | ' | 292,000 | 1,166,000 | 292,000 | ' |
Fair value of instruments at issuance | ' | ' | ' | 1,166,000 | ' | ' |
2011 Convertible Notes [Member] | ' | ' | ' | ' | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ' | ' | ' | ' |
Balance | ' | 6,510,000 | 4,920,000 | 6,070,000 | ' | 5,327,000 |
Amortization of debt discount | ' | 38,000 | ' | ' | ' | 265,000 |
Fair value adjustment | ' | -370,000 | -1,508,000 | -1,932,000 | ' | 918,000 |
31-Dec-13 | ' | 6,070,000 | 3,290,000 | 4,920,000 | 3,290,000 | 6,510,000 |
Carrying value of old debt at modification | ' | -6,178,000 | ' | -3,450,000 | ' | ' |
Fair value of new debt at modification | ' | 6,070,000 | ' | 4,920,000 | ' | ' |
Conversion of debentures and warrants | ' | ' | -122,000 | -688,000 | ' | ' |
2012 Convertible Notes [Member] | ' | ' | ' | ' | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ' | ' | ' | ' |
Balance | ' | 1,588,000 | 1,390,000 | 1,516,000 | ' | ' |
Amortization of debt discount | ' | 55,000 | ' | ' | ' | 66,000 |
Allocation of initial proceeds | ' | ' | ' | ' | ' | 417,000 |
Fair value adjustment | ' | -72,000 | -380,000 | -536,000 | ' | 1,105,000 |
31-Dec-13 | ' | 1,516,000 | 1,010,000 | 1,390,000 | 1,010,000 | 1,588,000 |
Carrying value of old debt at modification | ' | -1,571,000 | ' | -980,000 | ' | ' |
Fair value of new debt at modification | ' | 1,516,000 | ' | 1,390,000 | ' | ' |
Third Tranche Convertible Notes [Member] | ' | ' | ' | ' | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ' | ' | ' | ' |
Balance | ' | 394,000 | 361,000 | 386,000 | ' | ' |
Amortization of debt discount | ' | 2,000 | ' | ' | ' | ' |
Allocation of initial proceeds | 142,000 | ' | ' | ' | ' | ' |
Fair value adjustment | 252,000 | -8,000 | -124,000 | -136,000 | ' | ' |
31-Dec-13 | 394,000 | 386,000 | 237,000 | 361,000 | 237,000 | ' |
Carrying value of old debt at modification | ' | -388,000 | ' | -250,000 | ' | ' |
Fair value of new debt at modification | ' | $386,000 | ' | $361,000 | ' | ' |
Note_10_Fair_Value_Measurement5
Note 10 - Fair Value Measurements (Details) - Level 3 Instruments (USD $) | 12 Months Ended |
In Thousands, unless otherwise specified | Dec. 31, 2013 |
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' |
Balance December 31, 2012 | $11,898,000 |
Issuances | 7,193,000 |
31-Dec-13 | 7,217,000 |
Amortization of debt discount [Member] | Convertible Notes [Member] | ' |
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' |
Amounts Recognized on Income Statement | 95,000 |
Amortization of debt discount [Member] | ' |
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' |
Amounts Recognized on Income Statement | 95,000 |
Debt extinguishment and modification of warrants [Member] | Convertible Notes [Member] | ' |
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' |
Amounts Recognized on Income Statement | 1,826,000 |
Debt extinguishment and modification of warrants [Member] | Warrant [Member] | ' |
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' |
Amounts Recognized on Income Statement | 1,448,000 |
Debt extinguishment and modification of warrants [Member] | ' |
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' |
Amounts Recognized on Income Statement | 3,274,000 |
Conversion of debentures and warrants [Member] | Convertible Notes [Member] | ' |
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' |
Amounts Recognized on Income Statement | -810,000 |
Conversion of debentures and warrants [Member] | Warrant [Member] | ' |
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' |
Amounts Recognized on Income Statement | -2,655,000 |
Conversion of debentures and warrants [Member] | ' |
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' |
Amounts Recognized on Income Statement | -3,465,000 |
Fair value adjustments [Member] | Convertible Notes [Member] | ' |
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' |
Amounts Recognized on Income Statement | -4,814,000 |
Fair value adjustments [Member] | Warrant [Member] | ' |
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' |
Amounts Recognized on Income Statement | -6,964,000 |
Fair value adjustments [Member] | ' |
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' |
Amounts Recognized on Income Statement | -11,778,000 |
Convertible Notes [Member] | ' |
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' |
Balance December 31, 2012 | 8,098,000 |
Issuances | 142,000 |
31-Dec-13 | 4,537,000 |
Warrant [Member] | ' |
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' |
Balance December 31, 2012 | 3,800,000 |
Issuances | 7,051,000 |
31-Dec-13 | $2,680,000 |
Note_10_Fair_Value_Measurement6
Note 10 - Fair Value Measurements (Details) - Black-Scholes-Merton Option-Pricing Model Fair Value Estimates (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Feb. 22, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Feb. 22, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Jan. 16, 2013 | Feb. 22, 2013 | Dec. 31, 2013 | Sep. 18, 2013 |
2011 Warrants [Member] | 2011 Warrants [Member] | 2011 Warrants [Member] | 2012 $0.15 Warrants [Member] | 2012 $0.15 Warrants [Member] | 2012 $0.15 Warrants [Member] | 2012 $0.15 Warrants [Member] | 2012 $0.25 Warrants [Member] | 2012 $0.25 Warrants [Member] | Third Tranche Warrants [Member] | February 2013 SPA Option [Member] | September 2013 Warrants [Member] | September 2013 Warrants [Member] | |||
Black-Sholes-Merton Option Pricing Model [Member] | Black-Sholes-Merton Option Pricing Model [Member] | Black-Sholes-Merton Option Pricing Model [Member] | Black-Sholes-Merton Option Pricing Model [Member] | Black-Sholes-Merton Option Pricing Model [Member] | Black-Sholes-Merton Option Pricing Model [Member] | Black-Sholes-Merton Option Pricing Model [Member] | Black-Sholes-Merton Option Pricing Model [Member] | Black-Sholes-Merton Option Pricing Model [Member] | Black-Sholes-Merton Option Pricing Model [Member] | Black-Sholes-Merton Option Pricing Model [Member] | |||||
Fair Value Inputs, Liabilities, Quantitative Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock Price (in Dollars per share) | ' | ' | $0.14 | $0.04 | $0.15 | ' | $0.14 | $0.04 | $0.15 | ' | $0.15 | $0.15 | $0.14 | $0.04 | $0.08 |
Exercise Price (in Dollars per share) | ' | ' | $0.15 | $0.10 | $0.15 | $0.15 | $0.15 | $0.10 | $0.15 | $0.25 | $0.25 | $0.15 | $0.15 | $0.06 | $0.06 |
Expected Life (in years) | ' | ' | '3 years | '2 years 54 days | '3 years 54 days | ' | '4 years 138 days | '3 years 6 months | '4 years 6 months | ' | '4 years 6 months | '5 years | '9 months | '168 days | '273 days |
Stock Volatility | ' | ' | 100.00% | 95.00% | 100.00% | ' | 100.00% | 100.00% | 100.00% | ' | 100.00% | 110.00% | 110.00% | 100.00% | 110.00% |
Risk-Free Rate | ' | ' | 0.40% | 0.21% | 0.39% | ' | 0.70% | 1.02% | 0.63% | ' | 0.63% | 0.75% | 0.15% | 0.10% | 0.07% |
Dividend Rate | ' | ' | 0.00% | 0.00% | 0.00% | ' | 0.00% | 0.00% | 0.00% | ' | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Outstanding Shares of Common Stock (in Shares) | 125,000,000 | 32,434,000 | 59,576,097 | 160,664,862 | 32,434,430 | ' | 59,576,097 | 160,664,862 | 32,434,430 | ' | 32,434,430 | 32,434,430 | 73,042,764 | 160,664,862 | 143,997,066 |
Note_10_Fair_Value_Measurement7
Note 10 - Fair Value Measurements (Details) - February 2013 Warrants - Monte Carlo Simulation Model Fair Value Estimates (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Feb. 22, 2013 | Dec. 31, 2013 |
February 2013 Warrants [Member] | February 2013 Warrants [Member] | |||
Monte Carlo Simulation Model [Member] | Monte Carlo Simulation Model [Member] | |||
Fair Value Inputs, Liabilities, Quantitative Information [Line Items] | ' | ' | ' | ' |
Stock Price (in Dollars per share) | ' | ' | $0.12 | $0.04 |
Exercise Price (in Dollars per share) | ' | ' | $0.20 | $0.08 |
Expected Life (in years) | ' | ' | '5 years | '4 years 54 days |
Stock Volatility | ' | ' | 110.00% | 100.00% |
Risk-Free Rate | ' | ' | 0.84% | 1.34% |
Number of Steps | ' | ' | 100,000 | 100,000 |
Outstanding Shares of Common Stock (in Shares) | 125,000,000 | 32,434,000 | 59,576,097 | 160,664,862 |
Note_10_Fair_Value_Measurement8
Note 10 - Fair Value Measurements (Details) - A Monte Carlo Simulation Model Fair Value Estimates (Monte Carlo Simulation Model [Member], USD $) | 2 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended |
Feb. 22, 2013 | Dec. 31, 2013 | Sep. 18, 2013 | Dec. 31, 2013 | Sep. 18, 2013 | |
February 2013 SPA Option [Member] | September 2013 Warrants [Member] | September 2013 Warrants [Member] | September 2013 SPA Option [Member] | September 2013 SPA Option [Member] | |
Fair Value Inputs, Liabilities, Quantitative Information [Line Items] | ' | ' | ' | ' | ' |
Stock Price (simulated) (in Dollars per share) | $0.10 | $0.04 | $0.07 | $0.04 | $0.08 |
Exercise Price (in Dollars per share) | $0.20 | $0.08 | $0.08 | $0.08 | $0.08 |
Expected Life (in years) | '5 years | '4 years 262 days | '5 years | '168 days | '273 days |
Stock Volatility | 110.00% | 100.00% | 110.00% | 100.00% | 110.00% |
Risk-Free Rate | 1.16% | 1.61% | 1.43% | 0.10% | 0.07% |
Number of Steps | 10,000 | 100,000 | 100,000 | 10,000 | 10,000 |
Note_10_Fair_Value_Measurement9
Note 10 - Fair Value Measurements (Details) - Assumptions Utilized to Estimate Fair Value of Convertible Notes (USD $) | 2 Months Ended | 3 Months Ended | 7 Months Ended | 12 Months Ended |
Feb. 22, 2013 | Dec. 31, 2013 | Sep. 18, 2013 | Dec. 31, 2012 | |
Fair Value Inputs, Liabilities, Quantitative Information [Line Items] | ' | ' | ' | ' |
Outstanding Shares of Common Stock (in Shares) | ' | 125,000,000 | ' | 32,434,000 |
2011 Convertible Notes [Member] | ' | ' | ' | ' |
Fair Value Inputs, Liabilities, Quantitative Information [Line Items] | ' | ' | ' | ' |
Stock Price (in Dollars per share) | $0.14 | $0.04 | $0.08 | $0.15 |
Exercise Price (in Dollars per share) | $0.10 | $0.06 | $0.06 | $0.10 |
Expected remaining term (in years) | '2 years 127 days | '1 year 6 months | '1 year 284 days | '1 year 54 days |
Stock Volatility | 100.00% | 95.00% | 100.00% | 105.00% |
Risk-Free Rate | 0.32% | 0.25% | 0.38% | 0.17% |
Dividend Rate | 0.00% | 0.00% | 0.00% | 0.00% |
Outstanding Shares of Common Stock (in Shares) | 59,576,097 | 160,664,862 | 143,997,066 | 32,434,430 |
Effective discount rate | 13.20% | 19.60% | 16.40% | 13.10% |
Probability of forced redemption | 20.00% | 20.00% | 20.00% | 20.00% |
2012 Convertible Notes [Member] | ' | ' | ' | ' |
Fair Value Inputs, Liabilities, Quantitative Information [Line Items] | ' | ' | ' | ' |
Stock Price (in Dollars per share) | $0.14 | $0.04 | $0.08 | $0.15 |
Exercise Price (in Dollars per share) | $0.10 | $0.06 | $0.06 | $0.10 |
Expected remaining term (in years) | '2 years 127 days | '1 year 6 months | '1 year 288 days | '2 years 6 months |
Stock Volatility | 100.00% | 95.00% | 100.00% | 100.00% |
Risk-Free Rate | 0.32% | 0.26% | 0.38% | 0.31% |
Dividend Rate | 0.00% | 0.00% | 0.00% | 0.00% |
Outstanding Shares of Common Stock (in Shares) | 59,576,097 | 160,664,862 | 143,997,066 | 32,434,430 |
Effective discount rate | 13.20% | 19.60% | 16.40% | 13.20% |
Probability of forced redemption | 20.00% | 20.00% | 20.00% | 20.00% |
Third Tranche Convertible Notes [Member] | ' | ' | ' | ' |
Fair Value Inputs, Liabilities, Quantitative Information [Line Items] | ' | ' | ' | ' |
Stock Price (in Dollars per share) | $0.14 | $0.04 | $0.08 | $0.15 |
Exercise Price (in Dollars per share) | $0.10 | $0.06 | $0.06 | $0.10 |
Expected remaining term (in years) | '2 years 328 days | '2 years 14 days | '2 years 120 days | '3 years |
Stock Volatility | 100.00% | 95.00% | 100.00% | 100.00% |
Risk-Free Rate | 0.39% | 0.40% | 0.56% | 0.36% |
Dividend Rate | 0.00% | 0.00% | 0.00% | 0.00% |
Outstanding Shares of Common Stock (in Shares) | 59,576,097 | 160,664,862 | 143,997,066 | 32,434,430 |
Effective discount rate | 13.20% | 21.30% | 13.30% | 13.20% |
Probability of forced redemption | 20.00% | 20.00% | 20.00% | 20.00% |
Note_11_Income_Taxes_Details
Note 11 - Income Taxes (Details) (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Note 11 - Income Taxes (Details) [Line Items] | ' | ' |
Effective Income Tax Rate Reconciliation, Change in Deferred Tax Assets Valuation Allowance, Amount | $1,410,000 | $903,000 |
Operating Loss Carryforwards | 67,207,600 | ' |
Unrecognized Tax Benefits | 0 | 0 |
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued | 0 | 0 |
U.S. Federal Tax Authority [Member] | Research Tax Credit Carryforward [Member] | ' | ' |
Note 11 - Income Taxes (Details) [Line Items] | ' | ' |
Tax Credit Carryforward, Amount | 752,000 | ' |
State and Local Jurisdiction [Member] | Research Tax Credit Carryforward [Member] | ' | ' |
Note 11 - Income Taxes (Details) [Line Items] | ' | ' |
Tax Credit Carryforward, Amount | 460,000 | ' |
Foreign Tax Authority [Member] | ' | ' |
Note 11 - Income Taxes (Details) [Line Items] | ' | ' |
Operating Loss Carryforwards | $752,000 | ' |
Foreign Tax Authority [Member] | Minimum [Member] | ' | ' |
Note 11 - Income Taxes (Details) [Line Items] | ' | ' |
Open Tax Year | '2000 | ' |
Foreign Tax Authority [Member] | Maximum [Member] | ' | ' |
Note 11 - Income Taxes (Details) [Line Items] | ' | ' |
Open Tax Year | '2009 | ' |
Domestic Tax Authority [Member] | Minimum [Member] | ' | ' |
Note 11 - Income Taxes (Details) [Line Items] | ' | ' |
Open Tax Year | '2007 | ' |
Domestic Tax Authority [Member] | Maximum [Member] | ' | ' |
Note 11 - Income Taxes (Details) [Line Items] | ' | ' |
Open Tax Year | '2013 | ' |
Note_11_Income_Taxes_Details_P
Note 11 - Income Taxes (Details) - Provision for Income Taxes (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Income (loss) before income taxes: | ' | ' |
United States | $3,194,000 | ($8,288,000) |
Foreign | 305,000 | -99,000 |
3,499,000 | -8,387,000 | |
Deferred income tax benefit/(provision) from operations: | ' | ' |
Federal | 1,380,000 | 2,444,000 |
Foreign | -142,000 | -104,000 |
State | 172,000 | -1,437,000 |
1,410,000 | 903,000 | |
Change in valuation allowance | ($1,410,000) | ($903,000) |
Note_11_Income_Taxes_Details_S
Note 11 - Income Taxes (Details) - Significant Components of Deferred Tax Assets (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Significant Components of Deferred Tax Assets [Abstract] | ' | ' |
Net federal and state operating loss carryforwards | $22,939 | $24,689 |
Net foreign operating loss carryforwards | 523 | 380 |
Accrued expenses and reserves | -2 | ' |
Tax credits | 1,212 | 1,194 |
Other | 476 | 295 |
Total deferred tax assets | 25,148 | 26,558 |
Valuation allowance | ($25,148) | ($26,558) |
Note_11_Income_Taxes_Details_P1
Note 11 - Income Taxes (Details) - Provision for Income Taxes Computed at Federal Statutory Rate (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Provision for Income Taxes Computed at Federal Statutory Rate [Abstract] | ' | ' |
Tax provision (benefit) at federal statutory rate | $1,061,000 | ($2,818,000) |
State income taxes, net of U.S. federal income tax provision (benefit) | 4,000 | -11,000 |
Permanent differences | 46,000 | 17,000 |
Other | 299,000 | 1,909,000 |
Change in valuation allowance | ($1,410,000) | ($903,000) |