Document_And_Entity_Informatio
Document And Entity Information | 3 Months Ended | |
Mar. 31, 2014 | 12-May-14 | |
Document and Entity Information [Abstract] | ' | ' |
Entity Registrant Name | 'PLC SYSTEMS INC | ' |
Document Type | '10-Q | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Entity Common Stock, Shares Outstanding | ' | 124,998,195 |
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-Mar-14 | ' |
Document Fiscal Year Focus | '2014 | ' |
Document Fiscal Period Focus | 'Q1 | ' |
Condensed_Consolidated_Balance
Condensed Consolidated Balance Sheets (Unaudited) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
Current assets: | ' | ' |
Cash and cash equivalents | $128,000 | $769,000 |
Restricted cash | 30,000 | 30,000 |
Accounts receivable, net of allowance of $2 at March 31, 2014 and December 31, 2013, respectively | 257,000 | 502,000 |
Inventories | 112,000 | 117,000 |
Prepaid expenses and other current assets | 49,000 | 99,000 |
Total current assets | 576,000 | 1,517,000 |
Equipment, furniture and leasehold improvements, net | 24,000 | 37,000 |
Other assets | 4,000 | 4,000 |
Total assets | 604,000 | 1,558,000 |
Current liabilities: | ' | ' |
Accounts payable | 510,000 | 425,000 |
Accrued compensation | 47,000 | 39,000 |
Accrued other | 468,000 | 519,000 |
Total current liabilities | 1,025,000 | 983,000 |
Convertible notes | 4,904,000 | 4,537,000 |
Warrant and option liabilities | 3,691,000 | 2,680,000 |
Common stock, no par value, unlimited shares authorized, 125,000 shares issued and outstanding; 35,666 unissued and reserved at March 31, 2014 and December 31, 2013, respectively | 97,190,000 | 97,190,000 |
Additional paid in capital | 97,000 | 48,000 |
Accumulated deficit | -106,027,000 | -103,615,000 |
Accumulated other comprehensive loss | -276,000 | -265,000 |
Total stockholders’ deficit | -9,016,000 | -6,642,000 |
Total liabilities and stockholders’ deficit | $604,000 | $1,558,000 |
Condensed_Consolidated_Balance1
Condensed Consolidated Balance Sheets (Unaudited) (Parentheticals) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, except 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 | 125,000,000 | 125,000,000 |
Common stock, shares outstanding | 125,000,000 | 125,000,000 |
Common stock, shares unissued | 35,666,000 | 35,666,000 |
Common stock, shares reserved | 35,666,000 | 35,666,000 |
Condensed_Consolidated_Stateme
Condensed Consolidated Statements of Operations (Unaudited) (USD $) | 3 Months Ended | |
Share data in Thousands, except Per Share data, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Revenues | $54,000 | $348,000 |
Cost of revenues | 31,000 | 179,000 |
Gross profit | 23,000 | 169,000 |
Operating expenses: | ' | ' |
Selling, general and administrative | 537,000 | 685,000 |
Research and development | 459,000 | 554,000 |
Total operating expenses | 996,000 | 1,239,000 |
Loss from operations | -973,000 | -1,070,000 |
Other income (expense): | ' | ' |
Interest expense | -63,000 | -140,000 |
Foreign currency transaction losses | 2,000 | -8,000 |
Interest income | ' | 4,000 |
Change in fair value of warrant and option liabilities | -1,011,000 | -3,999,000 |
Change in fair value of convertible notes | -367,000 | -1,312,000 |
Loss on extinguishment of convertible notes | ' | -1,283,000 |
Total other expense | -1,439,000 | -6,738,000 |
Net loss | ($2,412,000) | ($7,808,000) |
Net loss per weighted average share, basic (in Dollars per share) | ($0.02) | ($0.19) |
Weighted average shares outstanding: | ' | ' |
Basic and diluted (in Shares) | 125,000 | 41,670 |
Condensed_Consolidated_Stateme1
Condensed Consolidated Statements of Comprehensive Loss (USD $) | 3 Months Ended |
Mar. 31, 2014 | |
Net loss | ($2,412,000) |
Other comprehensive loss: | ' |
Foreign currency translation adjustments | -11,000 |
Other comprehensive loss | -11,000 |
Comprehensive loss | ($2,423,000) |
Condensed_Consolidated_Stateme2
Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $) | 3 Months Ended | |
Mar. 31, 2014 | Mar. 31, 2013 | |
Cash flows from operating activities: | ' | ' |
Net loss | ($2,412,000) | ($7,808,000) |
Depreciation and amortization | 13,000 | 13,000 |
Stock-based compensation expense | 49,000 | 68,000 |
Change in fair value of warrant and options liabilities | 1,011,000 | 3,999,000 |
Change in fair value of convertible notes | 367,000 | 1,312,000 |
Loss on extinguishment of convertible notes | ' | 1,283,000 |
Non-cash interest expense | ' | 95,000 |
Change in assets and liabilities: | ' | ' |
Restricted cash | ' | -500,000 |
Accounts receivable | 245,000 | 27,000 |
Inventories | 5,000 | 71,000 |
Prepaid expenses and other assets | 50,000 | -483,000 |
Accounts payable | 85,000 | -39,000 |
Deferred revenue | ' | -69,000 |
Accrued liabilities | -44,000 | -127,000 |
Net cash flows used in operating activities | -631,000 | -2,158,000 |
Cash flows from financing activities: | ' | ' |
Net proceeds from sale of common stock and warrants | ' | 3,504,000 |
Net proceeds from issuance of convertible notes and warrants | ' | 250,000 |
Net cash provided by financing activities | ' | 3,754,000 |
Effect of exchange rate changes on cash and cash equivalents | -10,000 | 9,000 |
Net (decrease) increase in cash and cash equivalents | -641,000 | 1,605,000 |
Cash and cash equivalents at beginning of period | 769,000 | 258,000 |
Cash and cash equivalents at end of period | 128,000 | 1,863,000 |
Supplemental disclosure of cash flow information: | ' | ' |
Cash paid for interest | ' | 62,000 |
Supplemental disclosure of non-cash financing activities: | ' | ' |
Cashless exercise of warrants | ' | $844,000 |
Note_1_Business_and_Liquidity
Note 1 - Business and Liquidity | 3 Months Ended |
Mar. 31, 2014 | |
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 three months ended March 31, 2014, the Company incurred a loss from operations of approximately $973,000 and used cash in operations of approximately $631,000. As of March 31, 2014, cash and cash equivalents were $128,000 and the Company's accumulated deficit was $106,027,000. Management expects that quarterly losses from operations and negative cash flows will continue during 2014. These factors raise substantial doubt about the Company’s ability to continue as a going concern. The accompanying condensed 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 months. On April 14, 2014, the Company obtained $250,000 in funding through the sale of convertible notes and warrants. See Note 13 for additional details on the terms and conditions of this financing arrangement. | |
The Company believes that its existing resources, based on its currently projected financial results and the additional funding noted above, are sufficient to fund operations into the second quarter of 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 second quarter of 2014. Where possible, the Company has taken certain reductions in its discretionary spending. The Company will continue to review its other expense areas to determine whether additional reductions in discretionary spending can be achieved. | |
On May 14, 2014, the Company filed a proxy statement with the Securities and Exchange Commission describing the form of a proposed merger transaction. The proposed transaction is expected to result in the sale of the Company’s Renal Guard business to GCP IV LLC in exchange for the cancellation of 95% of the Company’s outstanding convertible notes and a release of liens on substantially all of the Company’s assets. Subsequently, a wholly-owned subsidiary of the Company would merge with and into Viveve, Inc. (“Viveve”), with Viveve surviving the merger. The holders of the remaining 5% of the Company’s outstanding convertible notes will receive shares of common stock in exchange for the convertible notes prior to the transaction. Additionally, the holders of the Company’s outstanding warrants (excluding warrants potentially issuable upon exercise of the September SPA Option) will receive two-thirds (2/3) of a common share in exchange for each warrant share held prior to the transaction. The proposed transaction is subject to shareholder approval prior to consummation. |
Note_2_Basis_of_Presentation
Note 2 - Basis of Presentation | 3 Months Ended |
Mar. 31, 2014 | |
Disclosure Text Block [Abstract] | ' |
Basis of Accounting [Text Block] | ' |
2. Basis of Presentation | |
The accompanying unaudited condensed consolidated financial statements of the Company have been prepared in accordance with generally accepted accounting principles (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring adjustments) considered necessary for a fair presentation have been included. Operating results for the three months ended March 31, 2014 are not necessarily indicative of the results that may be expected for the year ending December 31, 2014. These financial statements should be read in conjunction with the consolidated financial statements and footnotes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2013. | |
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. Actual results could differ from those estimates. |
Note_3_Inventories
Note 3 - Inventories | 3 Months Ended | ||||||||
Mar. 31, 2014 | |||||||||
Inventory Disclosure [Abstract] | ' | ||||||||
Inventory Disclosure [Text Block] | ' | ||||||||
3. Inventories | |||||||||
Inventories are stated at average cost (computed on a first-in, first-out method) and include allocations of labor and overhead. As of March 31, 2014 and December 31, 2013, inventories consisted of the following (in thousands): | |||||||||
March 31, | December 31, | ||||||||
2014 | 2013 | ||||||||
Raw materials | $ | 85 | $ | 80 | |||||
Finished goods | 27 | 37 | |||||||
$ | 112 | $ | 117 | ||||||
Note_4_Stock_Based_Compensatio
Note 4 - Stock Based Compensation | 3 Months Ended | ||||||||||||||||
Mar. 31, 2014 | |||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | ||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | ' | ||||||||||||||||
4. 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 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 three months ended March 31, 2014, the Company did not grant any options to purchase shares of the Company’s common stock. | |||||||||||||||||
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 year ended December 31, 2013, the Company issued an aggregate of 416,668 shares of restricted common stock 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 were restricted from being sold for a period of six months from the date of issuance. The contracts with Garden State Securities, Inc. and JFS Investments, Inc. terminated in February 2013. No further stock issuances will occur under these agreements. The issuance of these shares resulted in recording $56,000 of compensation expense during the three months ended March 31, 2013. | |||||||||||||||||
As of March 31, 2014, 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 | Weighted Average Exercise | Average Remaining Contractual Life (Years) | Aggregate | ||||||||||||||
Options | Price | Intrinsic Value | |||||||||||||||
Outstanding, December 31, 2013 | 10,086 | $ | 0.15 | ||||||||||||||
Granted | -- | -- | |||||||||||||||
Exercised | -- | -- | |||||||||||||||
Forfeited | -- | -- | |||||||||||||||
Cancelled | -- | -- | |||||||||||||||
Outstanding, March 31, 2014 | 10,086 | $ | 0.15 | 5.31 | $ | 0 | |||||||||||
Exercisable, March 31, 2014 | 5,773 | $ | 0.19 | 2.35 | $ | 0 | |||||||||||
Stock-Based Compensation Expense | |||||||||||||||||
The Company recorded compensation expense related to stock options of $49,000 in the three months ended March 31, 2014, as compared to $12,000 in the three months ended March 31, 2013. The Company also recorded compensation expense of $56,000 related to the issuance of restricted common shares during the three months ended March 31, 2013. As of March 31, 2014, the Company had $284,000 of total unrecognized compensation cost related to its unvested options, which is expected to be recognized over a weighted average period of 1.59 years. | |||||||||||||||||
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 during the three months ended March 31, 2014 or 2013. At March 31, 2014, 294,461 shares were reserved for future issuance under the Purchase Plan. |
Note_5_Revenue_Recognition
Note 5 - Revenue Recognition | 3 Months Ended |
Mar. 31, 2014 | |
Revenue Recognition [Abstract] | ' |
Revenue Recognition [Text Block] | ' |
5. 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 records revenue at the time of shipment if all other revenue recognition criteria have been met. | |
As of March 31, 2014 and 2013, we had deferred revenue balances of $0 and $248,000, respectively, related to shipments to our distributor in Italy, Artech, because not all revenue recognition criteria were met. During the three months ended March 31, 2014 and 2013, we recognized $0 and $106,000, respectively, in revenue previously deferred upon the receipt of cash. |
Note_6_Loss_per_Share
Note 6 - Loss per Share | 3 Months Ended |
Mar. 31, 2014 | |
Earnings Per Share [Abstract] | ' |
Earnings Per Share [Text Block] | ' |
6. Loss per Share | |
In the three months ended March 31, 2014 and 2013, basic and diluted loss per share have been computed using only the weighted average number of common shares outstanding during the period without giving effect to any potential future issuances of common stock related to stock option programs, Rights To Shares Agreement (see Note 9), investor warrants or convertible notes, since their inclusion would be antidilutive. | |
For the three months ended March 31, 2014 and March 31, 2013, 248,336,287 and 166,739,613 shares, respectively, attributable to outstanding warrants, convertible notes, Rights To Shares Agreements and stock options were excluded from the calculation of diluted earnings per share because the effect would have been antidilutive. |
Note_7_Total_Comprehensive_Los
Note 7 - Total Comprehensive Loss | 3 Months Ended |
Mar. 31, 2014 | |
Disclosure Text Block [Abstract] | ' |
Comprehensive Income (Loss) Note [Text Block] | ' |
7. Total Comprehensive Loss | |
Total comprehensive loss for the three months ended March 31, 2014 was $2,423,000 as compared to $7,808,000 in the three months ended March 31, 2013. Comprehensive loss is comprised of the net loss plus the increase or decrease in the foreign currency translation adjustment. |
Note_8_Warranty_and_Preventati
Note 8 - Warranty and Preventative Maintenance Costs | 3 Months Ended |
Mar. 31, 2014 | |
Product Warranties Disclosures [Abstract] | ' |
Product Warranty Disclosure [Text Block] | ' |
8. Warranty and Preventative Maintenance Costs | |
The Company warranties its products against manufacturing defects under normal use and service during the warranty period. The Company evaluates the estimated future unrecoverable costs of warranty and preventative maintenance services for its installed base of 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 warranty liability recorded at March 31, 2014 or December 31, 2013. |
Note_9_Sale_of_Common_Stock
Note 9 - Sale of Common Stock | 3 Months Ended | ||||||||
Mar. 31, 2014 | |||||||||
Sale Of Common Stock Disclosure [Abstract] | ' | ||||||||
Sale Of Common Stock Disclosure [Text Block] | ' | ||||||||
9. 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 March 31, 2014, 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 three months ended March 31, 2014: | |||||||||
September 2013 SPA Option | Shares | Exercise | |||||||
Price | |||||||||
Beginning balance at December 31, 2013 | 14,583,334 | $ | 0.06 | ||||||
Ending balance at March 31, 2014 | 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 three months ended March 31, 2014: | |||||||||
The September 2013 Warrants | Warrants | Exercise | |||||||
Price | |||||||||
Beginning balance at December 31, 2013 | 30,625,001 | $ | 0.08 | ||||||
Ending balance at March 31, 2014 | 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 March 31, 2014, the September 2013 Warrants have been marked to fair value resulting in a derivative liability of $842,000. The impact to other income (expense) for the change in fair value of the September 2013 Warrants for the three months ended March 31, 2014 was a loss of $215,000. As of March 31, 2014, the September 2013 SPA Options have been marked to fair value resulting in a derivative liability of $351,000. The impact to other income (expense) for the change in fair value of the September 2013 SPA Option for the three months ended March 31, 2014 was a loss of $59,000. | |||||||||
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 March 31, 2014. | |||||||||
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 March 31, 2014, 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 or exercised under the February 2013 SPA Option prior to the expiration date. | |||||||||
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 three months ended March 31, 2014: | |||||||||
The February 2013 Warrants | Warrants | Exercise | |||||||
Price | |||||||||
Beginning balance at December 31, 2013 | 72,046,667 | $ | 0.08 | ||||||
Ending balance at March 31, 2014 | 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 March 31, 2014, the February 2013 Warrants have been marked to fair value resulting in a derivative liability of $1,981,000. The impact to other income (expense) for the change in fair value of the February 2013 Warrants for the three months ended March 31, 2014 and 2013 was a loss of $540,000 and $884,000, respectively. As of each reporting period, the February 2013 SPA warrants have been marked to fair value. The impact to other income (expense) for the change in fair value of the February 2013 SPA Option for the three months ended March 31, 2013 was a loss of $583,000. | |||||||||
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 March 31, 2014. | |||||||||
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 February 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 Condensed Consolidated Balance Sheet at March 31, 2014. |
Note_10_Convertible_Notes_and_
Note 10 - Convertible Notes and Warrants | 3 Months Ended | ||||||||
Mar. 31, 2014 | |||||||||
Convertible Notes Warrant Liabilities And Fair Value Disclosure [Abstract] | ' | ||||||||
Convertible Notes Warrant Liabilities And Fair Value Disclosure [Text Block] | ' | ||||||||
10. Convertible Notes and Warrants | |||||||||
Features of the Convertible Notes and Investor Warrants | |||||||||
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 March 31, 2014 and December 31, 2013, the maturity date principal of convertible debt was $4,494,355 and is due in June 2015. The Company has also accrued approximately $ 206,000 and $144,000 of interest payable to the convertible note holders at March 31, 2014 and December 31, 2013, respectively. The terms of the individual tranches of convertible notes and warrants issued pursuant to this agreement and the impact of the Amendment and Waiver Agreements 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. | |||||||||
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. | |||||||||
The following is a summary of the 2011 Warrants outstanding for the three months ended March 31, 2014: | |||||||||
2011 | Exercise | ||||||||
Warrants | Price | ||||||||
Beginning balance – December 31, 2013 | 17,940,780 | $ | 0.098 | ||||||
Less: Canceled | -- | -- | |||||||
Add: Issued | -- | -- | |||||||
Less: Exercised | -- | -- | |||||||
Ending Balance – March 31, 2014 | 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. | |||||||||
The following is a summary of the 2012 Warrants outstanding at March 31, 2014: | |||||||||
2012 | Exercise | ||||||||
Warrants | Price | ||||||||
Beginning balance at December 31, 2013 | 7,065,255 | $ | 0.098 | ||||||
Less: Canceled | -- | -- | |||||||
Add: Issued | -- | -- | |||||||
Less: Exercised | -- | -- | |||||||
Ending balance at March 31, 2014 | 7,065,255 | $ | 0.098 | ||||||
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. | |||||||||
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 $1,283,000 loss on the extinguishment of debt during the three months ended March 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. | |||||||||
The Company 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 March 31, 2014, the 2011 Convertible Notes have been marked to fair value resulting in a derivative liability of $3,490,000. The impact to other income (expense) for the adjustments to fair value for the three months ended March 31, 2014 was a loss of $200,000. | |||||||||
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 March 31, 2014, the 2011 Warrants have been marked to fair value resulting in a derivative liability of $358,000. The impact to other income (expense) for the adjustments to fair value for the three months ended March 31, 2014 was a loss of $179,000. The impact to other income (expense) for the loss on extinguishment and adjustments to fair value for the three months ended March 31, 2013 was a loss of $1,916,000 and $2,014,000, respectively. | |||||||||
During the three months March 31, 2013, certain holders of the 2011 Warrants exercised warrants to purchase 8,749,999 shares of common stock pursuant to the cashless exercise provisions resulting in the issuance of 3,217,741, shares of the Company’s common stock. The cashless exercise resulted in the reclassification of $844,000 in the exercise date fair value of the 2011 Warrants exercised as a component of the common stock balance within stockholders’ equity in the consolidated 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. | |||||||||
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 March 31, 2014, the 2012 Convertible Notes have been marked to fair value resulting in a derivative liability of $1,130,000. The impact to other income (expense) for the adjustments to fair value for the three months ended March 31, 2014 was a loss of $120,000. | |||||||||
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 March 31, 2014, the 2012 Warrants have been marked to fair value resulting in a derivative liability of $159,000. The impact to other income (expense) for the adjustments to fair value for the three months ended March 31, 2014 was a loss of $18,000. The impact to other income (expense) for the loss on extinguishment and adjustments to fair value for the three months ended March 31, 2013 was a gain of $168,000 and a loss of $326,000, respectively. | |||||||||
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 March 31, 2014, the Third Tranche Convertible Notes have been marked to fair value resulting in a derivative liability of $284,000. The impact to other income (expense) for the adjustments to fair value was a loss of $47,000. | |||||||||
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. The Third Tranche Warrants were canceled during 2013. The impact to other income (expense) for the three months ended March 31, 2013 was a gain of $108,000. |
Note_11_Fair_Value_Measures
Note 11 - Fair Value Measures | 3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||
Mar. 31, 2014 | |||||||||||||||||||||||||||||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||||||||||||||||||||||||||||||
Fair Value Disclosures [Text Block] | ' | ||||||||||||||||||||||||||||||||||||||||||||
11. Fair Value Measures | |||||||||||||||||||||||||||||||||||||||||||||
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: | |||||||||||||||||||||||||||||||||||||||||||||
Balance as of December 31, | Quoted Prices | Significant | Significant | ||||||||||||||||||||||||||||||||||||||||||
in Active | Other | Unobservable | |||||||||||||||||||||||||||||||||||||||||||
Markets for | Observable | Inputs | |||||||||||||||||||||||||||||||||||||||||||
Identical | Inputs | ||||||||||||||||||||||||||||||||||||||||||||
Assets | |||||||||||||||||||||||||||||||||||||||||||||
Description | 2013 | (Level 1) | (Level 2) | (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 | |||||||||||||||||||||||||||||||||||||
The following summarizes the Company’s assets and liabilities measured at fair value as of March 31, 2014: | |||||||||||||||||||||||||||||||||||||||||||||
Fair Value Measurements at Reporting Date Using: | |||||||||||||||||||||||||||||||||||||||||||||
Balance as of | Quoted Prices | Significant | Significant | ||||||||||||||||||||||||||||||||||||||||||
March 31, | in Active | Other | Unobservable | ||||||||||||||||||||||||||||||||||||||||||
Markets for | Observable | Inputs | |||||||||||||||||||||||||||||||||||||||||||
Identical | Inputs | ||||||||||||||||||||||||||||||||||||||||||||
Assets | |||||||||||||||||||||||||||||||||||||||||||||
Description | 2014 | (Level 1) | (Level 2) | (Level 3) | |||||||||||||||||||||||||||||||||||||||||
Liabilities | |||||||||||||||||||||||||||||||||||||||||||||
Convertible notes | $ | 4,904,000 | $ | — | $ | — | $ | 4,904,000 | |||||||||||||||||||||||||||||||||||||
Warrant and option liabilities | $ | 3,691,000 | $ | — | $ | — | $ | 3,691,000 | |||||||||||||||||||||||||||||||||||||
Total Liabilities | $ | 8,595,000 | $ | — | $ | — | $ | 8,595,000 | |||||||||||||||||||||||||||||||||||||
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 March 31, 2014 is as follows: | |||||||||||||||||||||||||||||||||||||||||||||
Fair | Fair | Fair | Fair | Fair Value of Third Tranche Convertible Notes | Fair Value of Third Tranche Warrant Liabilities | February | February | September 2013 Warrants | September 2013 SPA Options | Total | |||||||||||||||||||||||||||||||||||
Value of | Value of | Value of | Value of | 2013 Warrants | 2013 SPA Option | ||||||||||||||||||||||||||||||||||||||||
2011 | 2011 Warrant Liabilities | 2012 Convertible Notes | 2012 Warrant Liabilities | ||||||||||||||||||||||||||||||||||||||||||
Convertible | |||||||||||||||||||||||||||||||||||||||||||||
Notes | |||||||||||||||||||||||||||||||||||||||||||||
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 | |||||||||||||||||||||||
Exercise of warrants | $ | — | $ | (844,000 | ) | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | (844,000 | ) | |||||||||||||||||||||
Fair value adjustment | $ | 1,130,000 | $ | 2,014,000 | $ | 284,000 | $ | 326,000 | $ | 96,000 | $ | — | $ | 884,000 | $ | 583,000 | $ | — | $ | — | $ | 5,317,000 | |||||||||||||||||||||||
31-Mar-13 | $ | 7,200,000 | $ | 5,086,000 | $ | 1,800,000 | $ | 1,958,000 | $ | 482,000 | $ | — | $ | 3,643,000 | $ | 1,794,000 | $ | — | $ | — | $ | 21,963,000 | |||||||||||||||||||||||
Balance at December 31, 2013 | $ | 3,290,000 | $ | 179,000 | $ | 1,010,000 | $ | 141,000 | $ | 237,000 | $ | — | $ | 1,441,000 | $ | — | $ | 627,000 | $ | 292,000 | $ | 7,217,000 | |||||||||||||||||||||||
Fair value adjustment | $ | 200,000 | $ | 179,000 | $ | 120,000 | $ | 18,000 | $ | 47,000 | $ | — | $ | 540,000 | $ | — | $ | 215,000 | $ | 59,000 | $ | 1,378,000 | |||||||||||||||||||||||
31-Mar-14 | $ | 3,490,000 | $ | 358,000 | $ | 1,130,000 | $ | 159,000 | $ | 284,000 | $ | — | $ | 1,981,000 | $ | — | $ | 842,000 | $ | 351,000 | $ | 8,595,000 | |||||||||||||||||||||||
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 March 31, 2014 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 February 22, 2013, March 31, 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: | |||||||||||||||||||||||||||||||||||||||||||||
February 22, | March 31, | December 31, | |||||||||||||||||||||||||||||||||||||||||||
Input | 2013 | 2013 | 2013 | ||||||||||||||||||||||||||||||||||||||||||
Stock Price | $ | 0.14 | $ | 0.17 | $ | 0.04 | |||||||||||||||||||||||||||||||||||||||
Exercise Price | $ | 0.15 | $ | 0.098 | $ | 0.098 | |||||||||||||||||||||||||||||||||||||||
Expected Life (in years) | 3 | 2.9 | 2.15 | ||||||||||||||||||||||||||||||||||||||||||
Stock Volatility | 100 | % | 100 | % | 95 | % | |||||||||||||||||||||||||||||||||||||||
Risk-Free Rate | 0.4 | % | 0.24 | % | 0.21 | % | |||||||||||||||||||||||||||||||||||||||
Dividend Rate | 0 | % | 0 | % | 0 | % | |||||||||||||||||||||||||||||||||||||||
Outstanding Shares of Common Stock | 59,576,097 | 64,389,835 | 160,664,862 | ||||||||||||||||||||||||||||||||||||||||||
Based on the potential impact of the proposed merger transaction (see Note 13), the valuation of the 2011 Warrants as of March 31, 2014 was performed utilizing a Monte-Carlo simulation. This model was employed to more effectively incorporate the potential impact of the proposed transaction and the effect on the outstanding warrants. This includes the potential common stock for warrants exchange as contemplated in the proposed transaction, occurring at June 30, 2014, and the potential that the warrants are held for the remainder of their term. This model requires the following key inputs with respect to the Company and/or instrument: | |||||||||||||||||||||||||||||||||||||||||||||
March 31, | |||||||||||||||||||||||||||||||||||||||||||||
2014 | |||||||||||||||||||||||||||||||||||||||||||||
Input | |||||||||||||||||||||||||||||||||||||||||||||
Stock Price (simulated) | $ | 0.04 | |||||||||||||||||||||||||||||||||||||||||||
Strike Price | $ | 0.098 | |||||||||||||||||||||||||||||||||||||||||||
Expected remaining term (in years) | 1.89 | ||||||||||||||||||||||||||||||||||||||||||||
Stock Volatility | 95 | % | |||||||||||||||||||||||||||||||||||||||||||
Risk-Free Rate | 0.41 | % | |||||||||||||||||||||||||||||||||||||||||||
Dividend Rate | 0 | % | |||||||||||||||||||||||||||||||||||||||||||
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 February 22, 2013, March 31, 2013 and December 31, 2013. | |||||||||||||||||||||||||||||||||||||||||||||
February 22, | March 31, | December 31, | |||||||||||||||||||||||||||||||||||||||||||
Input | 2013 | 2013 | 2013 | ||||||||||||||||||||||||||||||||||||||||||
Stock Price | $ | 0.14 | $ | 0.17 | $ | 0.04 | |||||||||||||||||||||||||||||||||||||||
Exercise Price | $ | 0.15 | $ | 0.098 | $ | 0.098 | |||||||||||||||||||||||||||||||||||||||
Expected Life (in years) | 4.38 | 4.26 | 3.5 | ||||||||||||||||||||||||||||||||||||||||||
Stock Volatility | 100 | % | 100 | % | 100 | % | |||||||||||||||||||||||||||||||||||||||
Risk-Free Rate | 0.7 | % | 0.62 | % | 1.02 | % | |||||||||||||||||||||||||||||||||||||||
Dividend Rate | 0 | % | 0 | % | 0 | % | |||||||||||||||||||||||||||||||||||||||
Outstanding Shares of Common Stock | 59,576,097 | 64,389,835 | 160,664,862 | ||||||||||||||||||||||||||||||||||||||||||
Based on the potential impact of the proposed merger transaction (see Note 13), the valuation of the 2012 Warrants as of March 31, 2014 was performed utilizing a Monte-Carlo simulation. This model was employed to more effectively incorporate the potential impact of the proposed transaction and the effect on the outstanding warrants. This includes the potential common stock for warrants exchange as contemplated in the proposed transaction, occurring at June 30, 2014, and the potential that the warrants are held for the remainder of their term. This model requires the following key inputs with respect to the Company and/or instrument: | |||||||||||||||||||||||||||||||||||||||||||||
Input | March 31, | ||||||||||||||||||||||||||||||||||||||||||||
2014 | |||||||||||||||||||||||||||||||||||||||||||||
Stock Price (simulated) | $ | 0.04 | |||||||||||||||||||||||||||||||||||||||||||
Strike Price | $ | 0.098 | |||||||||||||||||||||||||||||||||||||||||||
Expected remaining term (in years) | 3.26 | ||||||||||||||||||||||||||||||||||||||||||||
Stock Volatility | 95 | % | |||||||||||||||||||||||||||||||||||||||||||
Risk-Free Rate | 1.01 | % | |||||||||||||||||||||||||||||||||||||||||||
Dividend Rate | 0 | % | |||||||||||||||||||||||||||||||||||||||||||
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 | January 16, | ||||||||||||||||||||||||||||||||||||||||||||
2013 | |||||||||||||||||||||||||||||||||||||||||||||
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, March 31, 2013, December 31, 2013 and March 31, 2014. Based on the potential impact of the proposed merger transaction (see Note 13), the valuation of the February 2013 Warrants as of March 31, 2014 incorporated the potential impact of the proposed transaction and the effect on the outstanding February 2013 warrants. This includes the potential common stock for warrants exchange as contemplated in the proposed transaction, occurring at June 30, 2014, and the potential that the warrants are held for the remainder of their term. This model requires the following key inputs with respect to the Company and/or instrument: | |||||||||||||||||||||||||||||||||||||||||||||
Input | February 22, | March 31, | December 31, | March 31, | |||||||||||||||||||||||||||||||||||||||||
2013 | 2013 | 2013 | 2014 | ||||||||||||||||||||||||||||||||||||||||||
Stock Price | $ | 0.12 | $ | 0.16 | 0.04 | $ | 0.04 | ||||||||||||||||||||||||||||||||||||||
Exercise Price | $ | 0.2 | $ | 0.2 | 0.08 | $ | 0.08 | ||||||||||||||||||||||||||||||||||||||
Expected Life (in years) | 5 | 4.9 | 4.15 | 3.89 | |||||||||||||||||||||||||||||||||||||||||
Stock Volatility | 110 | % | 110 | % | 100 | % | 100 | % | |||||||||||||||||||||||||||||||||||||
Risk-Free Rate | 0.84 | % | 0.75 | % | 1.34 | % | 1.27 | % | |||||||||||||||||||||||||||||||||||||
Number of Steps | 100,000 | 100,000 | 100,000 | 100,000 | |||||||||||||||||||||||||||||||||||||||||
Outstanding Shares of Common Stock | 59,576,097 | 64,389,835 | 160,664,862 | 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 March 31, 2013. | |||||||||||||||||||||||||||||||||||||||||||||
Input | February 22, | March 31, | |||||||||||||||||||||||||||||||||||||||||||
2013 | 2013 | ||||||||||||||||||||||||||||||||||||||||||||
Stock Price | $ | 0.14 | $ | 0.17 | |||||||||||||||||||||||||||||||||||||||||
Exercise Price | $ | 0.15 | $ | 0.15 | |||||||||||||||||||||||||||||||||||||||||
Expected Life (in years) | 0.75 | 0.64 | |||||||||||||||||||||||||||||||||||||||||||
Stock Volatility | 110 | % | 110 | % | |||||||||||||||||||||||||||||||||||||||||
Risk-Free Rate | 0.15 | % | 0.84 | % | |||||||||||||||||||||||||||||||||||||||||
Dividend Rate | 0 | % | 0 | % | |||||||||||||||||||||||||||||||||||||||||
Outstanding Shares of Common Stock | 73,042,764 | 77,856,502 | |||||||||||||||||||||||||||||||||||||||||||
A Monte Carlo simulation model was also utilized to estimate the fair value of the February 2013 SPA Option as of February 22, 2013 and March 31, 2013. | |||||||||||||||||||||||||||||||||||||||||||||
Input | February 22, | March 31, | |||||||||||||||||||||||||||||||||||||||||||
2013 | 2013 | ||||||||||||||||||||||||||||||||||||||||||||
Stock Price (simulated) | $ | 0.1 | $ | 0.66 | |||||||||||||||||||||||||||||||||||||||||
Exercise Price | $ | 0.2 | $ | 0.2 | |||||||||||||||||||||||||||||||||||||||||
Expected Life (in years) | 5 | 5 | |||||||||||||||||||||||||||||||||||||||||||
Stock Volatility | 110 | % | 110 | % | |||||||||||||||||||||||||||||||||||||||||
Risk-Free Rate | 1.158 | % | 1.025 | % | |||||||||||||||||||||||||||||||||||||||||
Number of Steps | 10,000 | 10,000 | |||||||||||||||||||||||||||||||||||||||||||
September 2013 Warrants | |||||||||||||||||||||||||||||||||||||||||||||
A Monte Carlo simulation model was utilized to estimate the fair value of the September 2013 warrants as of December 31, 2013 and March 31, 2014. Based on the potential impact of the proposed merger transaction (see Note 13), the valuation of the September 2013 Warrants as of March 31, 2014 incorporated the potential impact of the proposed transaction and the effect on the outstanding September 2013 warrants. This includes the potential common stock for warrants exchange as contemplated in the proposed transaction, occurring at June 30, 2014, and the potential that the warrants are held for the remainder of their term. This model requires the following key inputs with respect to the Company and/or instrument: | |||||||||||||||||||||||||||||||||||||||||||||
Input | December 31, | March 31, | |||||||||||||||||||||||||||||||||||||||||||
2013 | 2014 | ||||||||||||||||||||||||||||||||||||||||||||
Stock Price | $ | 0.04 | $ | 0.04 | |||||||||||||||||||||||||||||||||||||||||
Exercise Price | $ | 0.08 | $ | 0.08 | |||||||||||||||||||||||||||||||||||||||||
Expected Life (in years) | 4.72 | 4.47 | |||||||||||||||||||||||||||||||||||||||||||
Stock Volatility | 100 | % | 100 | % | |||||||||||||||||||||||||||||||||||||||||
Risk-Free Rate | 1.61 | % | 1.51 | % | |||||||||||||||||||||||||||||||||||||||||
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 December 31, 2013 and March 31, 2014. | |||||||||||||||||||||||||||||||||||||||||||||
Input | December 31, | March 31, | |||||||||||||||||||||||||||||||||||||||||||
2013 | 2014 | ||||||||||||||||||||||||||||||||||||||||||||
Stock Price | $ | 0.04 | $ | 0.04 | |||||||||||||||||||||||||||||||||||||||||
Exercise Price | $ | 0.06 | $ | 0.06 | |||||||||||||||||||||||||||||||||||||||||
Expected Life (in years) | 0.463 | 0.217 | |||||||||||||||||||||||||||||||||||||||||||
Stock Volatility | 100 | % | 100 | % | |||||||||||||||||||||||||||||||||||||||||
Risk-Free Rate | 0.1 | % | 0.05 | % | |||||||||||||||||||||||||||||||||||||||||
Dividend Rate | 0 | % | 0 | % | |||||||||||||||||||||||||||||||||||||||||
Outstanding Shares of Common Stock | 160,664,862 | 160,664,862 | |||||||||||||||||||||||||||||||||||||||||||
A Monte Carlo simulation model was also utilized to estimate the fair value of the 2013 SPA Option as of December 31, 2013 and March 31, 2014. | |||||||||||||||||||||||||||||||||||||||||||||
Input | December 31, | March 31, | |||||||||||||||||||||||||||||||||||||||||||
2013 | 2014 | ||||||||||||||||||||||||||||||||||||||||||||
Stock Price (simulated) | $ | 0.04 | $ | 0.04 | |||||||||||||||||||||||||||||||||||||||||
Exercise Price | $ | 0.08 | $ | 0.08 | |||||||||||||||||||||||||||||||||||||||||
Expected Life (in years) | 0.463 | 0.217 | |||||||||||||||||||||||||||||||||||||||||||
Stock Volatility | 100 | % | 100 | % | |||||||||||||||||||||||||||||||||||||||||
Risk-Free Rate | 0.1 | % | 0.05 | % | |||||||||||||||||||||||||||||||||||||||||
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, February 22, 2013, March 31, 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 | February 22, | 31-Mar-13 | December 31, | ||||||||||||||||||||||||||||||||||||||||||
2013 | 2013 | ||||||||||||||||||||||||||||||||||||||||||||
Stock Price | $ | 0.14 | $ | 0.17 | $ | 0.04 | |||||||||||||||||||||||||||||||||||||||
Strike Price | $ | 0.1 | $ | 0.1 | $ | 0.06 | |||||||||||||||||||||||||||||||||||||||
Expected remaining term (in years) | 2.35 | 2.25 | 1.5 | ||||||||||||||||||||||||||||||||||||||||||
Stock Volatility | 100 | % | 100 | % | 95 | % | |||||||||||||||||||||||||||||||||||||||
Risk-Free Rate | 0.32 | % | 0.28 | % | 0.25 | % | |||||||||||||||||||||||||||||||||||||||
Dividend Rate | 0 | % | 0 | % | 0 | % | |||||||||||||||||||||||||||||||||||||||
Outstanding Shares of Common Stock | 59,576,097 | 64,389,835 | 160,664,862 | ||||||||||||||||||||||||||||||||||||||||||
Effective discount rate | 13.2 | % | 11.6 | % | 19.6 | % | |||||||||||||||||||||||||||||||||||||||
Probability of forced redemption | 20 | % | 20 | % | 20 | % | |||||||||||||||||||||||||||||||||||||||
Based on the potential impact of the proposed merger transaction (see Note 13), the valuation of the 2011 Convertible Notes as of March 31, 2014 was performed utilizing a Monte-Carlo simulation. This model was employed to more effectively incorporate the potential impact of the proposed transaction and the effect on the outstanding convertible notes. This included increasing the probability of a transaction occurring during a period of time during the year ended December 31, 2014 (50% assumed possibility of a transaction during this time, versus 20% outside of this range). This model requires the following key inputs with respect to the Company and/or instrument: | |||||||||||||||||||||||||||||||||||||||||||||
Input | March 31, | ||||||||||||||||||||||||||||||||||||||||||||
2014 | |||||||||||||||||||||||||||||||||||||||||||||
Stock Price (simulated) | $ | 0.04 | |||||||||||||||||||||||||||||||||||||||||||
Strike Price | $ | 0.06 | |||||||||||||||||||||||||||||||||||||||||||
Expected remaining term (in years) | 1.25 | ||||||||||||||||||||||||||||||||||||||||||||
Stock Volatility | 95 | % | |||||||||||||||||||||||||||||||||||||||||||
Risk-Free Rate | 0.2 | % | |||||||||||||||||||||||||||||||||||||||||||
Dividend Rate | 0 | % | |||||||||||||||||||||||||||||||||||||||||||
Effective discount rate | 23.9 | % | |||||||||||||||||||||||||||||||||||||||||||
Probability of forced redemption or transaction event | 20% - 50 | % | |||||||||||||||||||||||||||||||||||||||||||
2012 Convertible Notes | |||||||||||||||||||||||||||||||||||||||||||||
A binomial lattice model was also utilized to estimate the fair value of the 2012 Convertible Notes as of February 22, 2013, March 31, 2013 and December 31, 2013. This model requires the following key inputs with respect to the Company and/or instrument: | |||||||||||||||||||||||||||||||||||||||||||||
Input | February 22, | March 31, | December 31, | ||||||||||||||||||||||||||||||||||||||||||
2013 | 2013 | 2013 | |||||||||||||||||||||||||||||||||||||||||||
Stock Price | $ | 0.14 | $ | 0.17 | $ | 0.04 | |||||||||||||||||||||||||||||||||||||||
Exercise Price | $ | 0.1 | $ | 0.1 | $ | 0.06 | |||||||||||||||||||||||||||||||||||||||
Expected remaining term (in years) | 2.35 | 2.25 | 1.5 | ||||||||||||||||||||||||||||||||||||||||||
Stock Volatility | 100 | % | 100 | % | 95 | % | |||||||||||||||||||||||||||||||||||||||
Risk-Free Rate | 0.32 | % | 0.28 | % | 0.26 | % | |||||||||||||||||||||||||||||||||||||||
Dividend Rate | 0 | % | 0 | % | 0 | % | |||||||||||||||||||||||||||||||||||||||
Outstanding Shares of Common Stock | 59,576,097 | 64,389,835 | 160,664,862 | ||||||||||||||||||||||||||||||||||||||||||
Effective discount rate | 13.2 | % | 13.2 | % | 19.6 | % | |||||||||||||||||||||||||||||||||||||||
Probability of forced redemption | 20 | % | 20 | % | 20 | % | |||||||||||||||||||||||||||||||||||||||
Based on the potential impact of the proposed merger transaction (see Note 13), the valuation of the 2012 Convertible Notes as of March 31, 2014 was performed utilizing a Monte-Carlo simulation. This model was employed to more effectively incorporate the potential impact of the proposed transaction and the effect on the outstanding convertible notes. This included increasing the probability of a transaction occurring during a period of time during the year ended December 31, 2014 (50% assumed possibility of a transaction during this time, versus 20% outside of this range). This model requires the following key inputs with respect to the Company and/or instrument: | |||||||||||||||||||||||||||||||||||||||||||||
Input | March 31, | ||||||||||||||||||||||||||||||||||||||||||||
2014 | |||||||||||||||||||||||||||||||||||||||||||||
Stock Price (simulated) | $ | 0.04 | |||||||||||||||||||||||||||||||||||||||||||
Strike Price | $ | 0.06 | |||||||||||||||||||||||||||||||||||||||||||
Expected remaining term (in years) | 1.25 | ||||||||||||||||||||||||||||||||||||||||||||
Stock Volatility | 95 | % | |||||||||||||||||||||||||||||||||||||||||||
Risk-Free Rate | 0.2 | % | |||||||||||||||||||||||||||||||||||||||||||
Dividend Rate | 0 | % | |||||||||||||||||||||||||||||||||||||||||||
Effective discount rate | 32.5 | % | |||||||||||||||||||||||||||||||||||||||||||
Probability of forced redemption or transaction event | 20% - 50 | % | |||||||||||||||||||||||||||||||||||||||||||
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, 2013, February 22, 2013, March 31, 2013 and December 31, 2013. This model requires the following key inputs with respect to the Company and/or instrument: | |||||||||||||||||||||||||||||||||||||||||||||
Input | January 16, | February 22, | March 31, | December 31, | |||||||||||||||||||||||||||||||||||||||||
2013 | 2013 | 2013 | 2013 | ||||||||||||||||||||||||||||||||||||||||||
Stock Price | $ | 0.15 | $ | 0.14 | $ | 0.17 | $ | 0.04 | |||||||||||||||||||||||||||||||||||||
Exercise Price | $ | 0.1 | $ | 0.1 | $ | 0.1 | $ | 0.06 | |||||||||||||||||||||||||||||||||||||
Expected remaining term (in years) | 3 | 2.9 | 2.8 | 2.04 | |||||||||||||||||||||||||||||||||||||||||
Stock Volatility | 100 | % | 100 | % | 100 | % | 95 | % | |||||||||||||||||||||||||||||||||||||
Risk-Free Rate | 0.36 | % | 0.39 | % | 0.34 | % | 0.4 | % | |||||||||||||||||||||||||||||||||||||
Dividend Rate | 0 | % | 0 | % | 0 | % | 0 | % | |||||||||||||||||||||||||||||||||||||
Outstanding Shares of Common Stock | 32,434,430 | 59,576,097 | 64,389,835 | 160,664,862 | |||||||||||||||||||||||||||||||||||||||||
Effective discount rate | 13.2 | % | 13.2 | % | 13.2 | % | 21.3 | % | |||||||||||||||||||||||||||||||||||||
Probability of forced redemption | 20 | % | 20 | % | 20 | % | 20 | % | |||||||||||||||||||||||||||||||||||||
Based on the potential impact of the proposed merger transaction (see Note 13), the valuation of the Tranche Three Convertible Notes as of March 31, 2014 was performed utilizing a Monte-Carlo simulation. This model was employed to more effectively incorporate the potential impact of the proposed transaction and the effect on the outstanding convertible notes. This included increasing the probability of a transaction occurring during a period of time during the year ended December 31, 2014 (50% assumed possibility of a transaction during this time, versus 20% outside of this range). This model requires the following key inputs with respect to the Company and/or instrument: | |||||||||||||||||||||||||||||||||||||||||||||
March 31, | |||||||||||||||||||||||||||||||||||||||||||||
2014 | |||||||||||||||||||||||||||||||||||||||||||||
Input | |||||||||||||||||||||||||||||||||||||||||||||
Stock Price (simulated) | $ | 0.04 | |||||||||||||||||||||||||||||||||||||||||||
Strike Price | $ | 0.06 | |||||||||||||||||||||||||||||||||||||||||||
Expected remaining term (in years) | 1.25 | ||||||||||||||||||||||||||||||||||||||||||||
Stock Volatility | 95 | % | |||||||||||||||||||||||||||||||||||||||||||
Risk-Free Rate | 0.4 | % | |||||||||||||||||||||||||||||||||||||||||||
Dividend Rate | 0 | % | |||||||||||||||||||||||||||||||||||||||||||
Effective discount rate | 32.5 | % | |||||||||||||||||||||||||||||||||||||||||||
Probability of forced redemption or transaction event | 20% - 50 | % | |||||||||||||||||||||||||||||||||||||||||||
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. | |||||||||||||||||||||||||||||||||||||||||||||
● | Based on the potential impact of the proposed merger transaction (see Note 13), the valuations of the 2011 Convertible Notes, 2012 Convertible Notes and Third Tranche Convertible Notes were modified for the March 31, 2014 valuation date to reflect a 50% probability of the proposed merger transaction occurring during 2014. During the period of time where the transaction was expected to be completed, the 50% probability of occurrence was applied. During this period, the expectation of forced redemption as described above was replaced with the expectation that 95% of the convertible notes would be extinguished and 5% of the convertible notes would be converted, as contemplated in the proposed transaction. During all other periods, the probability of forced redemption and contractual impact of forced redemption as described above was utilized. | ||||||||||||||||||||||||||||||||||||||||||||
● | Based on the potential impact of the proposed merger transaction (see Note 13), the valuations of the 2011 Warrants, 2012 Warrants, February 2013 Warrants and September 2013 warrants were modified for the March 31, 2014 valuation date to reflect the potential execution of the a warrant exchange, whereby the holders of the above referenced warrants would receive two-thirds (2/3) of a common share for every outstanding warrants share. The potential of the transaction occurring was assigned a 50% probability. In the other 50% of potential outcomes, the valuation model contemplates the investor holding the warrant until its expiration. | ||||||||||||||||||||||||||||||||||||||||||||
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_12_Commitments
Note 12 - Commitments | 3 Months Ended | ||||
Mar. 31, 2014 | |||||
Commitments and Contingencies Disclosure [Abstract] | ' | ||||
Commitments and Contingencies Disclosure [Text Block] | ' | ||||
12. 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. In April 2014, the Company extended their lease for their corporate offices to run through August 2017. Under this lease the Company’s rent payments will range from $43,500 to $49,500 per month. | |||||
Future minimum lease payments are estimated to be as follows (in thousands): | |||||
Year | Future Minimum | ||||
Lease Payments | |||||
2014 | $ | 33 | |||
2015 | 45 | ||||
2016 | 48 | ||||
2017 | 33 | ||||
Total | $ | 159 | |||
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. As of March 31, 2014 there are 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. As of March 31, 2014 there are no minimum purchase requirements or any future commitments for this contract. |
Note_13_Subsequent_Events
Note 13 - Subsequent Events | 3 Months Ended |
Mar. 31, 2014 | |
Subsequent Events [Abstract] | ' |
Subsequent Events [Text Block] | ' |
13. Subsequent Events | |
The Company has evaluated all events or transactions through the date of this filing. During this period the Company identified the following events for disclosure: | |
On April 14, 2014, the Company entered into an Amendment and Waiver Agreement (the “April Amendment and Waiver Agreement”) to the Securities Purchase Agreement dated February 22, 2011, and as further amended in July 2012, January 2013, February 2013 and September 2013. The April Amendment and Waiver Agreement reestablished the availability and extended the period of time in which the remaining funds under the third closing (up to $750,000) could be sold. The April Amendment and Waiver Agreement also waived certain corporate milestones and conditions to necessary to complete the third closing and waived any defaults under the terms of the Purchase Agreement. | |
In connection with the April Amendment and Waiver Agreement, the Company issued and sold to GCP IV LLC (i) a 5% Senior Secured Convertible Debenture of the Company (the “April 2014 Notes”) with a principal amount of $250,000, and (ii) a Common Stock Purchase Warrant to purchase up to 4,166,667 shares of the Company’s common stock at an initial exercise price of $0.09 per share (the “April 2014 Warrants”), for a total purchase price of $250,000. | |
The terms and conditions of the April 2014 Notes are substantially similar to those of the previously issued tranches of convertible notes, as described in Note 10 to our Condensed Consolidated Financial Statements. | |
The April 2014 Warrants are exercisable for a period of five years at an exercise price of $0.09 per share. The April 2014 Warrants may be exercised on a cashless basis if there is no effective registration statement registering the Warrant Shares. The exercise price is adjustable for certain dilutive issuances, including issuances of securities at an effective price per share lower than the exercise price, rights offerings, mergers or sales of assets and certain other customary anti-dilution provisions. | |
On May 9, 2014, in relation to the proposed transaction described below and in Note 1 to our Condensed Consolidated Financial Statements, the Company entered into an agreement with a certain holder of outstanding convertible notes and warrants, in which the Company agreed to sell warrants to purchase up to 940,189 of common stock at a per share exercise price of $0.53 per share. As part of the agreement, the proceeds received will be held in escrow until the closing of a proposed private placement transaction which would occur subsequent to the proposed merger transaction described in Note 1. The final issuance of the warrants is contingent upon the consummation of this proposed merger transaction. | |
On May 14, 2014, the Company filed a proxy statement with the Securities and Exchange Commission describing the form of a proposed merger transaction, as described in Note 1 to our Condensed Consolidated Financial Statements. |
Accounting_Policies_by_Policy_
Accounting Policies, by Policy (Policies) | 3 Months Ended |
Mar. 31, 2014 | |
Accounting Policies [Abstract] | ' |
Basis of Accounting, Policy [Policy Text Block] | ' |
The accompanying unaudited condensed consolidated financial statements of the Company have been prepared in accordance with generally accepted accounting principles (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring adjustments) considered necessary for a fair presentation have been included. Operating results for the three months ended March 31, 2014 are not necessarily indicative of the results that may be expected for the year ending December 31, 2014. These financial statements should be read in conjunction with the consolidated financial statements and footnotes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2013. | |
Use of Estimates, Policy [Policy Text Block] | ' |
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. Actual results could differ from those estimates. |
Note_3_Inventories_Tables
Note 3 - Inventories (Tables) | 3 Months Ended | ||||||||
Mar. 31, 2014 | |||||||||
Inventory Disclosure [Abstract] | ' | ||||||||
Schedule of Inventory, Current [Table Text Block] | ' | ||||||||
March 31, | December 31, | ||||||||
2014 | 2013 | ||||||||
Raw materials | $ | 85 | $ | 80 | |||||
Finished goods | 27 | 37 | |||||||
$ | 112 | $ | 117 |
Note_4_Stock_Based_Compensatio1
Note 4 - Stock Based Compensation (Tables) | 3 Months Ended | ||||||||||||||||
Mar. 31, 2014 | |||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | ||||||||||||||||
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block] | ' | ||||||||||||||||
Number of | Weighted Average Exercise | Average Remaining Contractual Life (Years) | Aggregate | ||||||||||||||
Options | Price | Intrinsic Value | |||||||||||||||
Outstanding, December 31, 2013 | 10,086 | $ | 0.15 | ||||||||||||||
Granted | -- | -- | |||||||||||||||
Exercised | -- | -- | |||||||||||||||
Forfeited | -- | -- | |||||||||||||||
Cancelled | -- | -- | |||||||||||||||
Outstanding, March 31, 2014 | 10,086 | $ | 0.15 | 5.31 | $ | 0 | |||||||||||
Exercisable, March 31, 2014 | 5,773 | $ | 0.19 | 2.35 | $ | 0 |
Note_9_Sale_of_Common_Stock_Ta
Note 9 - Sale of Common Stock (Tables) | 3 Months Ended | ||||||||
Mar. 31, 2014 | |||||||||
Sale Of Common Stock Disclosure [Abstract] | ' | ||||||||
Schedule of Stock Options Roll Forward [Table Text Block] | ' | ||||||||
September 2013 SPA Option | Shares | Exercise | |||||||
Price | |||||||||
Beginning balance at December 31, 2013 | 14,583,334 | $ | 0.06 | ||||||
Ending balance at March 31, 2014 | 14,583,334 | $ | 0.06 | ||||||
Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block] | ' | ||||||||
The September 2013 Warrants | Warrants | Exercise | |||||||
Price | |||||||||
Beginning balance at December 31, 2013 | 30,625,001 | $ | 0.08 | ||||||
Ending balance at March 31, 2014 | 30,625,001 | $ | 0.08 | ||||||
The February 2013 Warrants | Warrants | Exercise | |||||||
Price | |||||||||
Beginning balance at December 31, 2013 | 72,046,667 | $ | 0.08 | ||||||
Ending balance at March 31, 2014 | 72,046,667 | $ | 0.08 |
Note_10_Convertible_Notes_and_1
Note 10 - Convertible Notes and Warrants (Tables) | 3 Months Ended | ||||||||
Mar. 31, 2014 | |||||||||
Note 10 - Convertible Notes and Warrants (Tables) [Line Items] | ' | ||||||||
Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block] | ' | ||||||||
The September 2013 Warrants | Warrants | Exercise | |||||||
Price | |||||||||
Beginning balance at December 31, 2013 | 30,625,001 | $ | 0.08 | ||||||
Ending balance at March 31, 2014 | 30,625,001 | $ | 0.08 | ||||||
The February 2013 Warrants | Warrants | Exercise | |||||||
Price | |||||||||
Beginning balance at December 31, 2013 | 72,046,667 | $ | 0.08 | ||||||
Ending balance at March 31, 2014 | 72,046,667 | $ | 0.08 | ||||||
2011 Warrants [Member] | ' | ||||||||
Note 10 - Convertible Notes and Warrants (Tables) [Line Items] | ' | ||||||||
Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block] | ' | ||||||||
2011 | Exercise | ||||||||
Warrants | Price | ||||||||
Beginning balance – December 31, 2013 | 17,940,780 | $ | 0.098 | ||||||
Less: Canceled | -- | -- | |||||||
Add: Issued | -- | -- | |||||||
Less: Exercised | -- | -- | |||||||
Ending Balance – March 31, 2014 | 17,940,780 | $ | 0.098 | ||||||
2012 | Exercise | ||||||||
Warrants | Price | ||||||||
Beginning balance at December 31, 2013 | 7,065,255 | $ | 0.098 | ||||||
Less: Canceled | -- | -- | |||||||
Add: Issued | -- | -- | |||||||
Less: Exercised | -- | -- | |||||||
Ending balance at March 31, 2014 | 7,065,255 | $ | 0.098 |
Note_11_Fair_Value_Measures_Ta
Note 11 - Fair Value Measures (Tables) | 3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||
Mar. 31, 2014 | |||||||||||||||||||||||||||||||||||||||||||||
Note 11 - Fair Value Measures (Tables) [Line Items] | ' | ||||||||||||||||||||||||||||||||||||||||||||
Fair Value, Liabilities Measured on Recurring and Nonrecurring Basis [Table Text Block] | ' | ||||||||||||||||||||||||||||||||||||||||||||
Fair Value Measurements at Reporting Date Using: | |||||||||||||||||||||||||||||||||||||||||||||
Balance as of December 31, | Quoted Prices | Significant | Significant | ||||||||||||||||||||||||||||||||||||||||||
in Active | Other | Unobservable | |||||||||||||||||||||||||||||||||||||||||||
Markets for | Observable | Inputs | |||||||||||||||||||||||||||||||||||||||||||
Identical | Inputs | ||||||||||||||||||||||||||||||||||||||||||||
Assets | |||||||||||||||||||||||||||||||||||||||||||||
Description | 2013 | (Level 1) | (Level 2) | (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 Measurements at Reporting Date Using: | |||||||||||||||||||||||||||||||||||||||||||||
Balance as of | Quoted Prices | Significant | Significant | ||||||||||||||||||||||||||||||||||||||||||
March 31, | in Active | Other | Unobservable | ||||||||||||||||||||||||||||||||||||||||||
Markets for | Observable | Inputs | |||||||||||||||||||||||||||||||||||||||||||
Identical | Inputs | ||||||||||||||||||||||||||||||||||||||||||||
Assets | |||||||||||||||||||||||||||||||||||||||||||||
Description | 2014 | (Level 1) | (Level 2) | (Level 3) | |||||||||||||||||||||||||||||||||||||||||
Liabilities | |||||||||||||||||||||||||||||||||||||||||||||
Convertible notes | $ | 4,904,000 | $ | — | $ | — | $ | 4,904,000 | |||||||||||||||||||||||||||||||||||||
Warrant and option liabilities | $ | 3,691,000 | $ | — | $ | — | $ | 3,691,000 | |||||||||||||||||||||||||||||||||||||
Total Liabilities | $ | 8,595,000 | $ | — | $ | — | $ | 8,595,000 | |||||||||||||||||||||||||||||||||||||
Fair Value, by Balance Sheet Grouping [Table Text Block] | ' | ||||||||||||||||||||||||||||||||||||||||||||
Fair | Fair | Fair | Fair | Fair Value of Third Tranche Convertible Notes | Fair Value of Third Tranche Warrant Liabilities | February | February | September 2013 Warrants | September 2013 SPA Options | Total | |||||||||||||||||||||||||||||||||||
Value of | Value of | Value of | Value of | 2013 Warrants | 2013 SPA Option | ||||||||||||||||||||||||||||||||||||||||
2011 | 2011 Warrant Liabilities | 2012 Convertible Notes | 2012 Warrant Liabilities | ||||||||||||||||||||||||||||||||||||||||||
Convertible | |||||||||||||||||||||||||||||||||||||||||||||
Notes | |||||||||||||||||||||||||||||||||||||||||||||
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 | |||||||||||||||||||||||
Exercise of warrants | $ | — | $ | (844,000 | ) | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | (844,000 | ) | |||||||||||||||||||||
Fair value adjustment | $ | 1,130,000 | $ | 2,014,000 | $ | 284,000 | $ | 326,000 | $ | 96,000 | $ | — | $ | 884,000 | $ | 583,000 | $ | — | $ | — | $ | 5,317,000 | |||||||||||||||||||||||
31-Mar-13 | $ | 7,200,000 | $ | 5,086,000 | $ | 1,800,000 | $ | 1,958,000 | $ | 482,000 | $ | — | $ | 3,643,000 | $ | 1,794,000 | $ | — | $ | — | $ | 21,963,000 | |||||||||||||||||||||||
Balance at December 31, 2013 | $ | 3,290,000 | $ | 179,000 | $ | 1,010,000 | $ | 141,000 | $ | 237,000 | $ | — | $ | 1,441,000 | $ | — | $ | 627,000 | $ | 292,000 | $ | 7,217,000 | |||||||||||||||||||||||
Fair value adjustment | $ | 200,000 | $ | 179,000 | $ | 120,000 | $ | 18,000 | $ | 47,000 | $ | — | $ | 540,000 | $ | — | $ | 215,000 | $ | 59,000 | $ | 1,378,000 | |||||||||||||||||||||||
31-Mar-14 | $ | 3,490,000 | $ | 358,000 | $ | 1,130,000 | $ | 159,000 | $ | 284,000 | $ | — | $ | 1,981,000 | $ | — | $ | 842,000 | $ | 351,000 | $ | 8,595,000 | |||||||||||||||||||||||
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | ' | ||||||||||||||||||||||||||||||||||||||||||||
Input | February 22, | March 31, | |||||||||||||||||||||||||||||||||||||||||||
2013 | 2013 | ||||||||||||||||||||||||||||||||||||||||||||
Stock Price | $ | 0.14 | $ | 0.17 | |||||||||||||||||||||||||||||||||||||||||
Exercise Price | $ | 0.15 | $ | 0.15 | |||||||||||||||||||||||||||||||||||||||||
Expected Life (in years) | 0.75 | 0.64 | |||||||||||||||||||||||||||||||||||||||||||
Stock Volatility | 110 | % | 110 | % | |||||||||||||||||||||||||||||||||||||||||
Risk-Free Rate | 0.15 | % | 0.84 | % | |||||||||||||||||||||||||||||||||||||||||
Dividend Rate | 0 | % | 0 | % | |||||||||||||||||||||||||||||||||||||||||
Outstanding Shares of Common Stock | 73,042,764 | 77,856,502 | |||||||||||||||||||||||||||||||||||||||||||
Input | February 22, | March 31, | |||||||||||||||||||||||||||||||||||||||||||
2013 | 2013 | ||||||||||||||||||||||||||||||||||||||||||||
Stock Price (simulated) | $ | 0.1 | $ | 0.66 | |||||||||||||||||||||||||||||||||||||||||
Exercise Price | $ | 0.2 | $ | 0.2 | |||||||||||||||||||||||||||||||||||||||||
Expected Life (in years) | 5 | 5 | |||||||||||||||||||||||||||||||||||||||||||
Stock Volatility | 110 | % | 110 | % | |||||||||||||||||||||||||||||||||||||||||
Risk-Free Rate | 1.158 | % | 1.025 | % | |||||||||||||||||||||||||||||||||||||||||
Number of Steps | 10,000 | 10,000 | |||||||||||||||||||||||||||||||||||||||||||
Fair Value Inputs, Liabilities, Quantitative Information [Table Text Block] | ' | ||||||||||||||||||||||||||||||||||||||||||||
Input | December 31, | March 31, | |||||||||||||||||||||||||||||||||||||||||||
2013 | 2014 | ||||||||||||||||||||||||||||||||||||||||||||
Stock Price | $ | 0.04 | $ | 0.04 | |||||||||||||||||||||||||||||||||||||||||
Exercise Price | $ | 0.08 | $ | 0.08 | |||||||||||||||||||||||||||||||||||||||||
Expected Life (in years) | 4.72 | 4.47 | |||||||||||||||||||||||||||||||||||||||||||
Stock Volatility | 100 | % | 100 | % | |||||||||||||||||||||||||||||||||||||||||
Risk-Free Rate | 1.61 | % | 1.51 | % | |||||||||||||||||||||||||||||||||||||||||
Number of Steps | 100,000 | 100,000 | |||||||||||||||||||||||||||||||||||||||||||
Input | December 31, | March 31, | |||||||||||||||||||||||||||||||||||||||||||
2013 | 2014 | ||||||||||||||||||||||||||||||||||||||||||||
Stock Price | $ | 0.04 | $ | 0.04 | |||||||||||||||||||||||||||||||||||||||||
Exercise Price | $ | 0.06 | $ | 0.06 | |||||||||||||||||||||||||||||||||||||||||
Expected Life (in years) | 0.463 | 0.217 | |||||||||||||||||||||||||||||||||||||||||||
Stock Volatility | 100 | % | 100 | % | |||||||||||||||||||||||||||||||||||||||||
Risk-Free Rate | 0.1 | % | 0.05 | % | |||||||||||||||||||||||||||||||||||||||||
Dividend Rate | 0 | % | 0 | % | |||||||||||||||||||||||||||||||||||||||||
Outstanding Shares of Common Stock | 160,664,862 | 160,664,862 | |||||||||||||||||||||||||||||||||||||||||||
Input | December 31, | March 31, | |||||||||||||||||||||||||||||||||||||||||||
2013 | 2014 | ||||||||||||||||||||||||||||||||||||||||||||
Stock Price (simulated) | $ | 0.04 | $ | 0.04 | |||||||||||||||||||||||||||||||||||||||||
Exercise Price | $ | 0.08 | $ | 0.08 | |||||||||||||||||||||||||||||||||||||||||
Expected Life (in years) | 0.463 | 0.217 | |||||||||||||||||||||||||||||||||||||||||||
Stock Volatility | 100 | % | 100 | % | |||||||||||||||||||||||||||||||||||||||||
Risk-Free Rate | 0.1 | % | 0.05 | % | |||||||||||||||||||||||||||||||||||||||||
Number of Steps | 10,000 | 10,000 | |||||||||||||||||||||||||||||||||||||||||||
Proposed Merger Transaction [Member] | ' | ||||||||||||||||||||||||||||||||||||||||||||
Note 11 - Fair Value Measures (Tables) [Line Items] | ' | ||||||||||||||||||||||||||||||||||||||||||||
Fair Value Inputs, Liabilities, Quantitative Information [Table Text Block] | ' | ||||||||||||||||||||||||||||||||||||||||||||
Input | March 31, | ||||||||||||||||||||||||||||||||||||||||||||
2014 | |||||||||||||||||||||||||||||||||||||||||||||
Stock Price (simulated) | $ | 0.04 | |||||||||||||||||||||||||||||||||||||||||||
Strike Price | $ | 0.06 | |||||||||||||||||||||||||||||||||||||||||||
Expected remaining term (in years) | 1.25 | ||||||||||||||||||||||||||||||||||||||||||||
Stock Volatility | 95 | % | |||||||||||||||||||||||||||||||||||||||||||
Risk-Free Rate | 0.2 | % | |||||||||||||||||||||||||||||||||||||||||||
Dividend Rate | 0 | % | |||||||||||||||||||||||||||||||||||||||||||
Effective discount rate | 23.9 | % | |||||||||||||||||||||||||||||||||||||||||||
Probability of forced redemption or transaction event | 20% - 50 | % | |||||||||||||||||||||||||||||||||||||||||||
Input | March 31, | ||||||||||||||||||||||||||||||||||||||||||||
2014 | |||||||||||||||||||||||||||||||||||||||||||||
Stock Price (simulated) | $ | 0.04 | |||||||||||||||||||||||||||||||||||||||||||
Strike Price | $ | 0.06 | |||||||||||||||||||||||||||||||||||||||||||
Expected remaining term (in years) | 1.25 | ||||||||||||||||||||||||||||||||||||||||||||
Stock Volatility | 95 | % | |||||||||||||||||||||||||||||||||||||||||||
Risk-Free Rate | 0.2 | % | |||||||||||||||||||||||||||||||||||||||||||
Dividend Rate | 0 | % | |||||||||||||||||||||||||||||||||||||||||||
Effective discount rate | 32.5 | % | |||||||||||||||||||||||||||||||||||||||||||
Probability of forced redemption or transaction event | 20% - 50 | % | |||||||||||||||||||||||||||||||||||||||||||
March 31, | |||||||||||||||||||||||||||||||||||||||||||||
2014 | |||||||||||||||||||||||||||||||||||||||||||||
Input | |||||||||||||||||||||||||||||||||||||||||||||
Stock Price (simulated) | $ | 0.04 | |||||||||||||||||||||||||||||||||||||||||||
Strike Price | $ | 0.06 | |||||||||||||||||||||||||||||||||||||||||||
Expected remaining term (in years) | 1.25 | ||||||||||||||||||||||||||||||||||||||||||||
Stock Volatility | 95 | % | |||||||||||||||||||||||||||||||||||||||||||
Risk-Free Rate | 0.4 | % | |||||||||||||||||||||||||||||||||||||||||||
Dividend Rate | 0 | % | |||||||||||||||||||||||||||||||||||||||||||
Effective discount rate | 32.5 | % | |||||||||||||||||||||||||||||||||||||||||||
Probability of forced redemption or transaction event | 20% - 50 | % | |||||||||||||||||||||||||||||||||||||||||||
Black-Sholes-Merton Option Pricing Model [Member] | Warrant [Member] | ' | ||||||||||||||||||||||||||||||||||||||||||||
Note 11 - Fair Value Measures (Tables) [Line Items] | ' | ||||||||||||||||||||||||||||||||||||||||||||
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | ' | ||||||||||||||||||||||||||||||||||||||||||||
February 22, | March 31, | December 31, | |||||||||||||||||||||||||||||||||||||||||||
Input | 2013 | 2013 | 2013 | ||||||||||||||||||||||||||||||||||||||||||
Stock Price | $ | 0.14 | $ | 0.17 | $ | 0.04 | |||||||||||||||||||||||||||||||||||||||
Exercise Price | $ | 0.15 | $ | 0.098 | $ | 0.098 | |||||||||||||||||||||||||||||||||||||||
Expected Life (in years) | 3 | 2.9 | 2.15 | ||||||||||||||||||||||||||||||||||||||||||
Stock Volatility | 100 | % | 100 | % | 95 | % | |||||||||||||||||||||||||||||||||||||||
Risk-Free Rate | 0.4 | % | 0.24 | % | 0.21 | % | |||||||||||||||||||||||||||||||||||||||
Dividend Rate | 0 | % | 0 | % | 0 | % | |||||||||||||||||||||||||||||||||||||||
Outstanding Shares of Common Stock | 59,576,097 | 64,389,835 | 160,664,862 | ||||||||||||||||||||||||||||||||||||||||||
February 22, | March 31, | December 31, | |||||||||||||||||||||||||||||||||||||||||||
Input | 2013 | 2013 | 2013 | ||||||||||||||||||||||||||||||||||||||||||
Stock Price | $ | 0.14 | $ | 0.17 | $ | 0.04 | |||||||||||||||||||||||||||||||||||||||
Exercise Price | $ | 0.15 | $ | 0.098 | $ | 0.098 | |||||||||||||||||||||||||||||||||||||||
Expected Life (in years) | 4.38 | 4.26 | 3.5 | ||||||||||||||||||||||||||||||||||||||||||
Stock Volatility | 100 | % | 100 | % | 100 | % | |||||||||||||||||||||||||||||||||||||||
Risk-Free Rate | 0.7 | % | 0.62 | % | 1.02 | % | |||||||||||||||||||||||||||||||||||||||
Dividend Rate | 0 | % | 0 | % | 0 | % | |||||||||||||||||||||||||||||||||||||||
Outstanding Shares of Common Stock | 59,576,097 | 64,389,835 | 160,664,862 | ||||||||||||||||||||||||||||||||||||||||||
Black-Sholes-Merton Option Pricing Model [Member] | Third Tranche Warrants [Member] | ' | ||||||||||||||||||||||||||||||||||||||||||||
Note 11 - Fair Value Measures (Tables) [Line Items] | ' | ||||||||||||||||||||||||||||||||||||||||||||
Fair Value Inputs, Liabilities, Quantitative Information [Table Text Block] | ' | ||||||||||||||||||||||||||||||||||||||||||||
Input | January 16, | ||||||||||||||||||||||||||||||||||||||||||||
2013 | |||||||||||||||||||||||||||||||||||||||||||||
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 | ||||||||||||||||||||||||||||||||||||||||||||
Monte Carlo Simulation Model [Member] | Warrant [Member] | ' | ||||||||||||||||||||||||||||||||||||||||||||
Note 11 - Fair Value Measures (Tables) [Line Items] | ' | ||||||||||||||||||||||||||||||||||||||||||||
Fair Value Inputs, Liabilities, Quantitative Information [Table Text Block] | ' | ||||||||||||||||||||||||||||||||||||||||||||
March 31, | |||||||||||||||||||||||||||||||||||||||||||||
2014 | |||||||||||||||||||||||||||||||||||||||||||||
Input | |||||||||||||||||||||||||||||||||||||||||||||
Stock Price (simulated) | $ | 0.04 | |||||||||||||||||||||||||||||||||||||||||||
Strike Price | $ | 0.098 | |||||||||||||||||||||||||||||||||||||||||||
Expected remaining term (in years) | 1.89 | ||||||||||||||||||||||||||||||||||||||||||||
Stock Volatility | 95 | % | |||||||||||||||||||||||||||||||||||||||||||
Risk-Free Rate | 0.41 | % | |||||||||||||||||||||||||||||||||||||||||||
Dividend Rate | 0 | % | |||||||||||||||||||||||||||||||||||||||||||
Input | March 31, | ||||||||||||||||||||||||||||||||||||||||||||
2014 | |||||||||||||||||||||||||||||||||||||||||||||
Stock Price (simulated) | $ | 0.04 | |||||||||||||||||||||||||||||||||||||||||||
Strike Price | $ | 0.098 | |||||||||||||||||||||||||||||||||||||||||||
Expected remaining term (in years) | 3.26 | ||||||||||||||||||||||||||||||||||||||||||||
Stock Volatility | 95 | % | |||||||||||||||||||||||||||||||||||||||||||
Risk-Free Rate | 1.01 | % | |||||||||||||||||||||||||||||||||||||||||||
Dividend Rate | 0 | % | |||||||||||||||||||||||||||||||||||||||||||
Monte Carlo Simulation Model [Member] | February 2013 Warrants [Member] | ' | ||||||||||||||||||||||||||||||||||||||||||||
Note 11 - Fair Value Measures (Tables) [Line Items] | ' | ||||||||||||||||||||||||||||||||||||||||||||
Fair Value Inputs, Liabilities, Quantitative Information [Table Text Block] | ' | ||||||||||||||||||||||||||||||||||||||||||||
Input | February 22, | March 31, | December 31, | March 31, | |||||||||||||||||||||||||||||||||||||||||
2013 | 2013 | 2013 | 2014 | ||||||||||||||||||||||||||||||||||||||||||
Stock Price | $ | 0.12 | $ | 0.16 | 0.04 | $ | 0.04 | ||||||||||||||||||||||||||||||||||||||
Exercise Price | $ | 0.2 | $ | 0.2 | 0.08 | $ | 0.08 | ||||||||||||||||||||||||||||||||||||||
Expected Life (in years) | 5 | 4.9 | 4.15 | 3.89 | |||||||||||||||||||||||||||||||||||||||||
Stock Volatility | 110 | % | 110 | % | 100 | % | 100 | % | |||||||||||||||||||||||||||||||||||||
Risk-Free Rate | 0.84 | % | 0.75 | % | 1.34 | % | 1.27 | % | |||||||||||||||||||||||||||||||||||||
Number of Steps | 100,000 | 100,000 | 100,000 | 100,000 | |||||||||||||||||||||||||||||||||||||||||
Outstanding Shares of Common Stock | 59,576,097 | 64,389,835 | 160,664,862 | 160,664,862 | |||||||||||||||||||||||||||||||||||||||||
Convertible Notes [Member] | ' | ||||||||||||||||||||||||||||||||||||||||||||
Note 11 - Fair Value Measures (Tables) [Line Items] | ' | ||||||||||||||||||||||||||||||||||||||||||||
Fair Value Inputs, Liabilities, Quantitative Information [Table Text Block] | ' | ||||||||||||||||||||||||||||||||||||||||||||
Input | February 22, | 31-Mar-13 | December 31, | ||||||||||||||||||||||||||||||||||||||||||
2013 | 2013 | ||||||||||||||||||||||||||||||||||||||||||||
Stock Price | $ | 0.14 | $ | 0.17 | $ | 0.04 | |||||||||||||||||||||||||||||||||||||||
Strike Price | $ | 0.1 | $ | 0.1 | $ | 0.06 | |||||||||||||||||||||||||||||||||||||||
Expected remaining term (in years) | 2.35 | 2.25 | 1.5 | ||||||||||||||||||||||||||||||||||||||||||
Stock Volatility | 100 | % | 100 | % | 95 | % | |||||||||||||||||||||||||||||||||||||||
Risk-Free Rate | 0.32 | % | 0.28 | % | 0.25 | % | |||||||||||||||||||||||||||||||||||||||
Dividend Rate | 0 | % | 0 | % | 0 | % | |||||||||||||||||||||||||||||||||||||||
Outstanding Shares of Common Stock | 59,576,097 | 64,389,835 | 160,664,862 | ||||||||||||||||||||||||||||||||||||||||||
Effective discount rate | 13.2 | % | 11.6 | % | 19.6 | % | |||||||||||||||||||||||||||||||||||||||
Probability of forced redemption | 20 | % | 20 | % | 20 | % | |||||||||||||||||||||||||||||||||||||||
Input | February 22, | March 31, | December 31, | ||||||||||||||||||||||||||||||||||||||||||
2013 | 2013 | 2013 | |||||||||||||||||||||||||||||||||||||||||||
Stock Price | $ | 0.14 | $ | 0.17 | $ | 0.04 | |||||||||||||||||||||||||||||||||||||||
Exercise Price | $ | 0.1 | $ | 0.1 | $ | 0.06 | |||||||||||||||||||||||||||||||||||||||
Expected remaining term (in years) | 2.35 | 2.25 | 1.5 | ||||||||||||||||||||||||||||||||||||||||||
Stock Volatility | 100 | % | 100 | % | 95 | % | |||||||||||||||||||||||||||||||||||||||
Risk-Free Rate | 0.32 | % | 0.28 | % | 0.26 | % | |||||||||||||||||||||||||||||||||||||||
Dividend Rate | 0 | % | 0 | % | 0 | % | |||||||||||||||||||||||||||||||||||||||
Outstanding Shares of Common Stock | 59,576,097 | 64,389,835 | 160,664,862 | ||||||||||||||||||||||||||||||||||||||||||
Effective discount rate | 13.2 | % | 13.2 | % | 19.6 | % | |||||||||||||||||||||||||||||||||||||||
Probability of forced redemption | 20 | % | 20 | % | 20 | % | |||||||||||||||||||||||||||||||||||||||
Input | January 16, | February 22, | March 31, | December 31, | |||||||||||||||||||||||||||||||||||||||||
2013 | 2013 | 2013 | 2013 | ||||||||||||||||||||||||||||||||||||||||||
Stock Price | $ | 0.15 | $ | 0.14 | $ | 0.17 | $ | 0.04 | |||||||||||||||||||||||||||||||||||||
Exercise Price | $ | 0.1 | $ | 0.1 | $ | 0.1 | $ | 0.06 | |||||||||||||||||||||||||||||||||||||
Expected remaining term (in years) | 3 | 2.9 | 2.8 | 2.04 | |||||||||||||||||||||||||||||||||||||||||
Stock Volatility | 100 | % | 100 | % | 100 | % | 95 | % | |||||||||||||||||||||||||||||||||||||
Risk-Free Rate | 0.36 | % | 0.39 | % | 0.34 | % | 0.4 | % | |||||||||||||||||||||||||||||||||||||
Dividend Rate | 0 | % | 0 | % | 0 | % | 0 | % | |||||||||||||||||||||||||||||||||||||
Outstanding Shares of Common Stock | 32,434,430 | 59,576,097 | 64,389,835 | 160,664,862 | |||||||||||||||||||||||||||||||||||||||||
Effective discount rate | 13.2 | % | 13.2 | % | 13.2 | % | 21.3 | % | |||||||||||||||||||||||||||||||||||||
Probability of forced redemption | 20 | % | 20 | % | 20 | % | 20 | % |
Note_12_Commitments_Tables
Note 12 - Commitments (Tables) | 3 Months Ended | ||||
Mar. 31, 2014 | |||||
Commitments and Contingencies Disclosure [Abstract] | ' | ||||
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block] | ' | ||||
Year | Future Minimum | ||||
Lease Payments | |||||
2014 | $ | 33 | |||
2015 | 45 | ||||
2016 | 48 | ||||
2017 | 33 | ||||
Total | $ | 159 |
Note_1_Business_and_Liquidity_
Note 1 - Business and Liquidity (Details) (USD $) | 3 Months Ended | 0 Months Ended | 3 Months Ended | |||
Mar. 31, 2014 | Mar. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | 14-May-14 | Mar. 31, 2014 | |
Subsequent Event [Member] | Proposed Merger Transaction [Member] | |||||
Proposed Merger Transaction [Member] | ||||||
Note 1 - Business and Liquidity (Details) [Line Items] | ' | ' | ' | ' | ' | ' |
Number of Operating Segments | 1 | ' | ' | ' | ' | ' |
Operating Income (Loss) | ($973,000) | ($1,070,000) | ' | ' | ' | ' |
Net Cash Provided by (Used in) Operating Activities | -631,000 | -2,158,000 | ' | ' | ' | ' |
Cash and Cash Equivalents, at Carrying Value | 128,000 | 1,863,000 | 769,000 | 258,000 | ' | ' |
Retained Earnings (Accumulated Deficit) | -106,027,000 | ' | -103,615,000 | ' | ' | ' |
Debt Instrument, Face Amount | $250,000 | ' | ' | ' | ' | ' |
Cancellation of Outstanding Convertible Notes, Percentage | ' | ' | ' | ' | 95.00% | 95.00% |
Cancellation of Outstanding Convertible Notes, Remaining Percentage | ' | ' | ' | ' | 5.00% | 5.00% |
Note_3_Inventories_Details_Inv
Note 3 - Inventories (Details) - Inventories (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Inventories [Abstract] | ' | ' |
Raw materials | $85 | $80 |
Finished goods | 27 | 37 |
$112 | $117 |
Note_4_Stock_Based_Compensatio2
Note 4 - Stock Based Compensation (Details) (USD $) | 3 Months Ended | 12 Months Ended | 6 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | 3 Months Ended | 12 Months Ended | ||||||||||
Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2013 | Jun. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2013 | Mar. 31, 2013 | Mar. 31, 2014 | Mar. 31, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2013 | |
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] | Restricted Stock [Member] | Restricted Stock [Member] | 2005 Plan [Member] | The 2013 Plan [Member] | Employee Stock Purchase Plan 2000 [Member] | Non Employee Directors [Member] | Employees [Member] | |||
Employee Stock Option [Member] | Board of Directors Chairman [Member] | Non Employee Directors [Member] | 2005 Plan [Member] | The 2013 Plan [Member] | The 2013 Plan [Member] | Non Employee Directors [Member] | Board of Directors Chairman [Member] | Employees [Member] | Garden State Securities and JFS Investments [Member] | |||||||||||
Non Employee Directors [Member] | Minimum [Member] | Minimum [Member] | ||||||||||||||||||
Note 4 - 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 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
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 | ' | ' | ' | 45,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 589,000 | 5,050,000 |
Share Based Compensation Arrangement by Share Based Payment Award Options Cancelled in Period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 502,000 | ' | ' | ' | ' | ' | ' | ' |
Share-based Goods and Nonemployee Services Transaction, Quantity of Securities Issued | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 416,668 | ' | ' | ' | ' | ' | ' |
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) | $49,000 | $12,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $56,000 | $56,000 | ' | ' | ' | ' | ' |
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) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $284,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '1 year 215 days | ' | ' | ' | ' | ' | ' | ' | ' |
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_4_Stock_Based_Compensatio3
Note 4 - Stock Based Compensation (Details) - Summary of Option Activity Under All Plans (USD $) | 3 Months Ended | |
In Thousands, except Per Share data, unless otherwise specified | Mar. 31, 2014 | Dec. 31, 2013 |
Summary of Option Activity Under All Plans [Abstract] | ' | ' |
Number of Options | 10,086 | 10,086 |
Weighted Average Exercise Price | $0.15 | $0.15 |
Average Remaining Contractual Life (Years) | '5 years 113 days | ' |
Aggregate Intrinsic Value | $0 | ' |
Exercisable, March 31, 2014 | 5,773 | ' |
Exercisable, March 31, 2014 | $0.19 | ' |
Exercisable, March 31, 2014 | '2 years 127 days | ' |
Exercisable, March 31, 2014 | $0 | ' |
Note_5_Revenue_Recognition_Det
Note 5 - Revenue Recognition (Details) (Artech [Member], USD $) | 3 Months Ended | |
Mar. 31, 2014 | Mar. 31, 2013 | |
Artech [Member] | ' | ' |
Note 5 - Revenue Recognition (Details) [Line Items] | ' | ' |
Deferred Revenue | $0 | $248,000 |
Deferred Revenue, Revenue Recognized | $0 | $106,000 |
Note_6_Loss_per_Share_Details
Note 6 - Loss per Share (Details) | 3 Months Ended | |
Mar. 31, 2014 | Mar. 31, 2013 | |
Earnings Per Share [Abstract] | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 248,336,287 | 166,739,613 |
Note_7_Total_Comprehensive_Los1
Note 7 - Total Comprehensive Loss (Details) (USD $) | 3 Months Ended | |
Mar. 31, 2014 | Mar. 31, 2013 | |
Disclosure Text Block [Abstract] | ' | ' |
Comprehensive Income (Loss), Net of Tax, Attributable to Parent | ($2,423,000) | ($7,808,000) |
Note_8_Warranty_and_Preventati1
Note 8 - Warranty and Preventative Maintenance Costs (Details) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
Product Warranties Disclosures [Abstract] | ' | ' |
Standard Product Warranty Accrual | $0 | $0 |
Note_9_Sale_of_Common_Stock_De
Note 9 - Sale of Common Stock (Details) (USD $) | 1 Months Ended | 3 Months Ended | 1 Months Ended | 1 Months Ended | 1 Months Ended | 3 Months Ended | 3 Months Ended | 1 Months Ended | 3 Months Ended | 3 Months Ended | ||||||||||||
Feb. 22, 2013 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Sep. 18, 2013 | Sep. 18, 2013 | Sep. 18, 2013 | Dec. 31, 2013 | Feb. 22, 2013 | Feb. 22, 2013 | Feb. 22, 2013 | Mar. 31, 2014 | Feb. 22, 2013 | Mar. 31, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2014 | Sep. 18, 2013 | Mar. 31, 2014 | Mar. 31, 2013 | Dec. 31, 2013 | Mar. 31, 2013 | |
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] | 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] | February 2013 Warrants [Member] | February 2013 Warrants [Member] | February 2013 Warrants [Member] | February 2013 Warrants [Member] | February 2013 SPA Option [Member] | |||||
Warrant Issued For Placement Agent Services [Member] | September 2013 Warrants [Member] | Warrant Issued For Placement Agent Services [Member] | February 2013 Warrants [Member] | |||||||||||||||||||
Note 9 - 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 | ' | ' | ' | $0.15 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in Shares) | ' | ' | ' | ' | 1,485,333 | 30,625,001 | 29,166,668 | ' | 1,885,333 | 28,818,666 | 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) | ' | ' | ' | ' | ' | ' | 16,666,667 | ' | ' | ' | 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 | ' | ' | ' | 0.2 | ' | ' | ' | ' | 0.08 | 0.08 | ' | ' | 0.08 | ' | 0.08 | ' |
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% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Discretionary Increase in Limitation of Beneficially Owned Percentage of Common Stock for Exercise of Warrants | ' | ' | ' | ' | ' | 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 | ' | ' | ' |
Derivative Liability, Fair Value, Gross Liability | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 842,000 | ' | 351,000 | ' | 1,981,000 | ' | ' | ' |
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Inputs Reconciliation, Gain (Loss) Included in Earnings | ' | 179,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 215,000 | ' | 59,000 | ' | 540,000 | 884,000 | ' | 583,000 |
(in Shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 43,228,001 | ' | ' | ' | ' |
(in Dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $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 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Note_9_Sale_of_Common_Stock_De1
Note 9 - Sale of Common Stock (Details) - Summary of SPA Options (September 2013 SPA Option [Member]) | 3 Months Ended | 12 Months Ended |
Mar. 31, 2014 | Dec. 31, 2013 | |
September 2013 SPA Option [Member] | ' | ' |
Note 9 - Sale of Common Stock (Details) - Summary of SPA Options [Line Items] | ' | ' |
Shares | 14,583,334 | 14,583,334 |
Exercise Price | 0.06 | 0.06 |
Note_9_Sale_of_Common_Stock_De2
Note 9 - Sale of Common Stock (Details) - Summary of Warrants | Mar. 31, 2014 | Dec. 31, 2013 |
September 2013 Warrants [Member] | ' | ' |
Class of Warrant or Right [Line Items] | ' | ' |
Balance | 30,625,001 | 30,625,001 |
Exercise Price | 0.08 | 0.08 |
February 2013 Warrants [Member] | ' | ' |
Class of Warrant or Right [Line Items] | ' | ' |
Balance | 72,046,667 | 72,046,667 |
Exercise Price | 0.08 | 0.08 |
Note_10_Convertible_Notes_and_2
Note 10 - Convertible Notes and Warrants (Details) (USD $) | 1 Months Ended | 3 Months Ended | 12 Months Ended | 1 Months Ended | 9 Months Ended | 2 Months Ended | 3 Months Ended | 0 Months Ended | 3 Months Ended | 0 Months Ended | 3 Months Ended | 3 Months Ended | 1 Months Ended | 3 Months Ended | 3 Months Ended | 1 Months Ended | 3 Months Ended | 1 Months Ended | 3 Months Ended | 3 Months Ended | 0 Months Ended | ||||||||||||||||||||||||||||||||||
Feb. 22, 2013 | Mar. 31, 2014 | Mar. 31, 2013 | Dec. 31, 2013 | Jan. 16, 2013 | Dec. 31, 2012 | Feb. 22, 2013 | Feb. 22, 2013 | Sep. 18, 2013 | Sep. 18, 2013 | Feb. 22, 2011 | Jul. 02, 2012 | Jul. 02, 2012 | Feb. 22, 2013 | Feb. 22, 2011 | Feb. 22, 2011 | Feb. 22, 2013 | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2013 | Jan. 16, 2013 | Dec. 31, 2012 | Feb. 22, 2011 | Mar. 31, 2014 | Dec. 31, 2013 | Jul. 02, 2012 | Jul. 02, 2012 | Jan. 16, 2013 | Mar. 31, 2014 | Jul. 02, 2012 | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2013 | Feb. 22, 2013 | Jan. 16, 2013 | Dec. 31, 2012 | Mar. 31, 2014 | Dec. 31, 2013 | Feb. 22, 2013 | Mar. 31, 2014 | Sep. 18, 2012 | Dec. 31, 2011 | Feb. 22, 2011 | Mar. 31, 2014 | Feb. 22, 2011 | Feb. 22, 2013 | Mar. 31, 2014 | Sep. 18, 2013 | Dec. 31, 2012 | Feb. 22, 2013 | Mar. 31, 2014 | Sep. 18, 2013 | Jan. 16, 2013 | Mar. 31, 2014 | Jan. 16, 2013 | |
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] | Expiration Date Februrary 22, 2016 [Member] | 2012 $0.15 Warrants [Member] | 2012 $0.25 Warrants [Member] | 2012 $0.098 Warrants [Member] | First Tranche [Member] | Second Tranche [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 $0.25 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 Warrants [Member] | 2012 Convertible Notes [Member] | 2012 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] | 2011 Warrants [Member] | Third Tranche Warrants [Member] | |||||||
Warrants 2011 and 2012 [Member] | Warrants 2011 and 2012 [Member] | Warrants 2011 and 2012 [Member] | 2011 Warrants [Member] | 2012 Warrants [Member] | 2012 Warrants [Member] | 2012 Warrants [Member] | Convertible Notes [Member] | 2012 Convertible Notes [Member] | |||||||||||||||||||||||||||||||||||||||||||||||
Note 10 - Convertible Notes and Warrants (Details) [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Interest Rate, Stated Percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5.00% | ' | ' | ' | 5.00% | ' | ' | ' | 5.00% | ' | 5.00% | ' | ' |
Debt Instrument, Face Amount | ' | $250,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $4,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Class of Warrant or Right, Outstanding (in Shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 17,940,780 | 17,940,780 | ' | ' | ' | 40,000,000 | 7,065,255 | 7,065,255 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Class of Warrant or Right, Exercise Price of Warrants or Rights (in Dollars per Item) | ' | ' | ' | ' | ' | ' | ' | 0.098 | ' | ' | 0.15 | 0.15 | 0.25 | 0.098 | ' | ' | 0.098 | 0.098 | 0.098 | ' | ' | ' | 0.15 | 0.098 | 0.098 | 0.15 | 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) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 40,000,000 | 10,000,000 | 10,000,000 | 16,315,790 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10,000,000 | 10,000,000 | 2,500,000 | ' | 20,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Convertible Debt | ' | 4,494,355 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 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 | ' | ' | ' | ' | ' | ' | $0.06 | ' | ' | ' | $0.06 | ' | ' | ' | ' |
Interest Payable | ' | 144,000 | ' | 206,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument Period Considered in Year for Calculation of Interest | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '360 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
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 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Payment to Warrant Holders as Percentage of Exercise Price | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 30.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Class of Warrant or Right Period for Presenting Effective Registration Statement for Avoiding Cashless Exercise of Warrants or Rights | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '5 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Change in Fair Value of Convertible Notes and Warrants, Percentage | ' | 10.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Gains (Losses) on Extinguishment of Debt | ' | ' | -1,283,000 | -1,283,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -1,916,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 108,000 | ' | ' | ' | ' | ' | ' | ' | 18,000 | ' | ' | -200,000 | ' | ' | ' | ' | ' | ' | -120,000 | ' | ' | ' | -47,000 | ' | ' | ' | ' |
Long-term Debt, Gross | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,208,000 | ' | ' | ' | 417,000 | ' | ' | ' | 142,000 | ' | ' |
Debt Instrument, Unamortized Discount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 792,000 | ' | ' | ' | ' | ' | ' | 583,000 | ' | ' | ' | 108,000 | ' | ' |
Convertible Debt, Fair Value Disclosures | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6,070,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 386,000 | ' | ' | ' | ' | ' |
Amortization of Debt Discount (Premium) | 95,000 | ' | 95,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 38,000 | ' | ' | ' | ' | ' | ' | 55,000 | ' | ' | ' | 2,000 | ' | ' | ' | ' | ' |
Write-off of Debt Discount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 265,000 | ' | ' | ' | ' | ' | ' | 462,000 | ' | ' | ' | 106,000 | ' | ' | ' | ' | ' |
Financial and Nonfinancial Liabilities, Fair Value Disclosure | 17,490,000 | 8,595,000 | 21,963,000 | 7,217,000 | 12,592,000 | 11,898,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,916,000 | 358,000 | 179,000 | 5,086,000 | 2,000,000 | 2,000,000 | ' | ' | ' | ' | ' | 300,000 | ' | ' | 159,000 | 141,000 | 1,958,000 | 1,632,000 | 1,800,000 | 1,800,000 | ' | ' | ' | ' | 4,920,000 | ' | ' | ' | ' | 1,516,000 | ' | 1,390,000 | ' | ' | ' | 361,000 | ' | ' | ' |
Derivative Liability, Fair Value, Gross Liability | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 358,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 159,000 | ' | 3,490,000 | ' | ' | ' | ' | ' | ' | 1,130,000 | ' | ' | ' | 284,000 | ' | 394,000 | 844,000 | ' |
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Inputs Reconciliation, Gain (Loss) Included in Earnings | ' | 179,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Change in Fair Value of Warrant Liabilities | ' | -1,011,000 | -3,999,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,014,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
(in Shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 168,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 8,749,999 | ' |
Common Stock Shares Issued Upon Conversion of Warrants (in Shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 326,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,217,741 | ' |
Proceeds from Convertible Debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $108,000 |
Note_10_Convertible_Notes_and_3
Note 10 - Convertible Notes and Warrants (Details) - Summary of Warrants Outstanding | Mar. 31, 2014 | Dec. 31, 2013 | Feb. 22, 2013 | Feb. 22, 2011 | Mar. 31, 2014 | Dec. 31, 2013 | Jul. 02, 2012 |
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] | |
Class of Warrant or Right [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Balance | 17,940,780 | 17,940,780 | ' | 40,000,000 | 7,065,255 | 7,065,255 | ' |
Exercise Price (in Dollars per Item) | 0.098 | 0.098 | 0.098 | 0.15 | 0.098 | 0.098 | 0.15 |
Note_11_Fair_Value_Measures_De
Note 11 - Fair Value Measures (Details) (USD $) | 3 Months Ended | ||||
Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2013 | Feb. 22, 2013 | Jan. 16, 2013 | |
Note 11 - Fair Value Measures (Details) [Line Items] | ' | ' | ' | ' | ' |
Fair Value Assumptions, Exercise Price (in Dollars per share) | ' | ' | ' | ' | $0.15 |
Control Redemption Amount Summation Component, Outstanding Principal Balance, Percentage | 130.00% | ' | ' | ' | ' |
Control Redemption Amount Summation Component, Accrued And Unpaid Interest, Percentage | 100.00% | ' | ' | ' | ' |
Proposed Merger Transaction [Member] | ' | ' | ' | ' | ' |
Note 11 - Fair Value Measures (Details) [Line Items] | ' | ' | ' | ' | ' |
Cancellation of Outstanding Convertible Notes, Percentage | 95.00% | ' | ' | ' | ' |
Cancellation of Outstanding Convertible Notes, Remaining Percentage | 5.00% | ' | ' | ' | ' |
2012 $0.15 Warrants [Member] | ' | ' | ' | ' | ' |
Note 11 - Fair Value Measures (Details) [Line Items] | ' | ' | ' | ' | ' |
Fair Value Assumptions, Exercise Price (in Dollars per share) | $0.10 | $0.10 | $0.10 | $0.15 | ' |
February 2013 SPA Option [Member] | ' | ' | ' | ' | ' |
Note 11 - Fair Value Measures (Details) [Line Items] | ' | ' | ' | ' | ' |
Options Exercised, Right To Purchase Common Stock, Number Of Shares (in Shares) | 1 | ' | ' | ' | ' |
Options Exercised, Right To Purchase Common Stock Warrants, Number Of Warrants (in Shares) | 1 | ' | ' | ' | ' |
2011 Convertible Notes [Member] | ' | ' | ' | ' | ' |
Note 11 - Fair Value Measures (Details) [Line Items] | ' | ' | ' | ' | ' |
Fair Value Assumptions, Exercise Price (in Dollars per share) | ' | $0.06 | $0.10 | $0.10 | ' |
Possibility of Transaction During a Period of Time, Percentage | 50.00% | ' | ' | ' | ' |
Possibility of Transaction Outside of a Certian Range of Time | 20.00% | ' | ' | ' | ' |
2012 Convertible Notes [Member] | ' | ' | ' | ' | ' |
Note 11 - Fair Value Measures (Details) [Line Items] | ' | ' | ' | ' | ' |
Fair Value Assumptions, Exercise Price (in Dollars per share) | ' | $0.06 | $0.10 | $0.10 | ' |
Possibility of Transaction During a Period of Time, Percentage | 50.00% | ' | ' | ' | ' |
Possibility of Transaction Outside of a Certian Range of Time | 20.00% | ' | ' | ' | ' |
Third Tranche Convertible Notes [Member] | ' | ' | ' | ' | ' |
Note 11 - Fair Value Measures (Details) [Line Items] | ' | ' | ' | ' | ' |
Fair Value Assumptions, Exercise Price (in Dollars per share) | ' | $0.06 | $0.10 | $0.10 | $0.10 |
Possibility of Transaction During a Period of Time, Percentage | 50.00% | ' | ' | ' | ' |
Possibility of Transaction Outside of a Certian Range of Time | 20.00% | ' | ' | ' | ' |
Convertible Notes [Member] | ' | ' | ' | ' | ' |
Note 11 - Fair Value Measures (Details) [Line Items] | ' | ' | ' | ' | ' |
Possibility of Transaction During a Period of Time, Percentage | 50.00% | ' | ' | ' | ' |
Warrant [Member] | ' | ' | ' | ' | ' |
Note 11 - Fair Value Measures (Details) [Line Items] | ' | ' | ' | ' | ' |
Possibility of Transaction During a Period of Time, Percentage | 50.00% | ' | ' | ' | ' |
Note_11_Fair_Value_Measures_De1
Note 11 - Fair Value Measures (Details) - Assets and Liabilities Measured at Fair Value (USD $) | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2013 | Feb. 22, 2013 | Jan. 16, 2013 | Dec. 31, 2012 |
Note 11 - Fair Value Measures (Details) - Assets and Liabilities Measured at Fair Value [Line Items] | ' | ' | ' | ' | ' | ' |
Convertible notes | $4,904,000 | $4,537,000 | ' | ' | ' | ' |
Warrant and option liabilities | 3,691,000 | 2,680,000 | ' | ' | ' | ' |
Warrant and option liabilities | ' | 2,680,000 | ' | ' | ' | ' |
Total Liabilities | 8,595,000 | 7,217,000 | 21,963,000 | 17,490,000 | 12,592,000 | 11,898,000 |
Fair Value, Inputs, Level 3 [Member] | ' | ' | ' | ' | ' | ' |
Note 11 - Fair Value Measures (Details) - Assets and Liabilities Measured at Fair Value [Line Items] | ' | ' | ' | ' | ' | ' |
Convertible notes | 4,904,000 | 4,537,000 | ' | ' | ' | ' |
Warrant and option liabilities | 3,691,000 | ' | ' | ' | ' | ' |
Warrant and option liabilities | ' | 2,680,000 | ' | ' | ' | ' |
Total Liabilities | $8,595,000 | $7,217,000 | ' | ' | ' | ' |
Note_11_Fair_Value_Measures_De2
Note 11 - Fair Value Measures (Details) - Summary of Changes in Convertible Notes, Warrants, Options (USD $) | 0 Months Ended | 1 Months Ended | 3 Months Ended | ||||
Jan. 16, 2013 | Mar. 31, 2013 | Feb. 22, 2013 | Mar. 31, 2014 | Mar. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Balance | $12,592,000 | $21,963,000 | $17,490,000 | $8,595,000 | $21,963,000 | $7,217,000 | $11,898,000 |
Allocation of initial proceeds | 250,000 | ' | ' | ' | ' | ' | ' |
Amortization of debt discount | ' | ' | 95,000 | ' | 95,000 | ' | ' |
Exercise of warrants | ' | -844,000 | ' | ' | ' | ' | ' |
Fair value adjustment | 444,000 | 5,317,000 | -450,000 | 1,378,000 | ' | ' | ' |
Carrying value of old debt at modification | ' | ' | -8,137,000 | ' | ' | ' | ' |
Fair value of new debt at modification | ' | ' | 7,972,000 | ' | ' | ' | ' |
Modification of warrants | ' | ' | 2,548,000 | ' | ' | ' | ' |
Cancellation/retirement of warrants | ' | ' | -1,100,000 | ' | ' | ' | ' |
Fair value of instruments at issuance | ' | ' | 3,970,000 | ' | ' | ' | ' |
2011 Warrants [Member] | ' | ' | ' | ' | ' | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Balance | 2,000,000 | 5,086,000 | 3,916,000 | 358,000 | 5,086,000 | 179,000 | 2,000,000 |
Exercise of warrants | ' | -844,000 | ' | ' | ' | ' | ' |
Fair value adjustment | ' | 2,014,000 | ' | 179,000 | ' | ' | ' |
Modification of warrants | ' | ' | 1,916,000 | ' | ' | ' | ' |
2012 Warrants [Member] | ' | ' | ' | ' | ' | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Balance | 1,800,000 | 1,958,000 | 1,632,000 | 159,000 | 1,958,000 | 141,000 | 1,800,000 |
Fair value adjustment | ' | 326,000 | ' | 18,000 | ' | ' | ' |
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 | ' | ' | ' | ' | ' | ' |
Cancellation/retirement of warrants | ' | ' | -300,000 | ' | ' | ' | ' |
February 2013 Warrants [Member] | ' | ' | ' | ' | ' | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Balance | ' | 3,643,000 | 2,759,000 | 1,981,000 | 3,643,000 | 1,441,000 | ' |
Fair value adjustment | ' | 884,000 | ' | 540,000 | ' | ' | ' |
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 | ' | 1,794,000 | 1,211,000 | ' | 1,794,000 | ' | ' |
Fair value adjustment | ' | 583,000 | ' | ' | ' | ' | ' |
Fair value of instruments at issuance | ' | ' | 1,211,000 | ' | ' | ' | ' |
September 2013 Warrants [Member] | ' | ' | ' | ' | ' | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Balance | ' | ' | ' | 842,000 | ' | 627,000 | ' |
Fair value adjustment | ' | ' | ' | 215,000 | ' | ' | ' |
September 2013 SPA Option [Member] | ' | ' | ' | ' | ' | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Balance | ' | ' | ' | 351,000 | ' | 292,000 | ' |
Fair value adjustment | ' | ' | ' | 59,000 | ' | ' | ' |
2011 Convertible Notes [Member] | ' | ' | ' | ' | ' | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Balance | 6,510,000 | 7,200,000 | 6,070,000 | 3,490,000 | 7,200,000 | 3,290,000 | 6,510,000 |
Amortization of debt discount | ' | ' | 38,000 | ' | ' | ' | ' |
Fair value adjustment | ' | 1,130,000 | -370,000 | 200,000 | ' | ' | ' |
Carrying value of old debt at modification | ' | ' | -6,178,000 | ' | ' | ' | ' |
Fair value of new debt at modification | ' | ' | 6,070,000 | ' | ' | ' | ' |
2012 Convertible Notes [Member] | ' | ' | ' | ' | ' | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Balance | 1,588,000 | 1,800,000 | 1,516,000 | 1,130,000 | 1,800,000 | 1,010,000 | 1,588,000 |
Amortization of debt discount | ' | ' | 55,000 | ' | ' | ' | ' |
Fair value adjustment | ' | 284,000 | -72,000 | 120,000 | ' | ' | ' |
Carrying value of old debt at modification | ' | ' | -1,571,000 | ' | ' | ' | ' |
Fair value of new debt at modification | ' | ' | 1,516,000 | ' | ' | ' | ' |
Third Tranche Convertible Notes [Member] | ' | ' | ' | ' | ' | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Balance | 394,000 | 482,000 | 386,000 | 284,000 | 482,000 | 237,000 | ' |
Allocation of initial proceeds | 142,000 | ' | ' | ' | ' | ' | ' |
Amortization of debt discount | ' | ' | 2,000 | ' | ' | ' | ' |
Fair value adjustment | 252,000 | 96,000 | -8,000 | 47,000 | ' | ' | ' |
Carrying value of old debt at modification | ' | ' | -388,000 | ' | ' | ' | ' |
Fair value of new debt at modification | ' | ' | $386,000 | ' | ' | ' | ' |
Note_11_Fair_Value_Measures_De3
Note 11 - Fair Value Measures (Details) - Pricing Models Input Assumptions Fair Value Estimates (USD $) | 0 Months Ended | 1 Months Ended | 2 Months Ended | 3 Months Ended | 9 Months Ended | 1 Months Ended | 2 Months Ended | 3 Months Ended | 9 Months Ended | ||
Jan. 16, 2013 | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2013 | Feb. 22, 2013 | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2013 | Feb. 22, 2013 | Mar. 31, 2014 | Dec. 31, 2013 | |
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] | ||||
Note 11 - Fair Value Measures (Details) - Pricing Models Input Assumptions Fair Value Estimates [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock Price (in Dollars per share) | $0.15 | ' | ' | $0.17 | $0.14 | $0.04 | $0.04 | $0.17 | $0.14 | $0.04 | $0.04 |
Exercise Price (in Dollars per share) | $0.15 | ' | ' | $0.10 | $0.15 | $0.10 | $0.10 | $0.10 | $0.15 | $0.10 | $0.10 |
Expected Life (in years) | '5 years | ' | ' | '2 years 328 days | '3 years | '1 year 324 days | '2 years 54 days | '4 years 94 days | '4 years 138 days | '3 years 94 days | '3 years 6 months |
Stock Volatility | 110.00% | ' | ' | 100.00% | 100.00% | 95.00% | 95.00% | 100.00% | 100.00% | 95.00% | 100.00% |
Risk-Free Rate | 0.75% | ' | ' | 0.24% | 0.40% | 0.41% | 0.21% | 0.62% | 0.70% | 1.01% | 1.02% |
Dividend Rate | 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) | 32,434,430 | 125,000,000 | 125,000,000 | 64,389,835 | 59,576,097 | ' | 160,664,862 | 64,389,835 | 59,576,097 | ' | 160,664,862 |
Note_11_Fair_Value_Measures_De4
Note 11 - Fair Value Measures (Details) - Fair Value Assumptions Monte Carlo Simulation (USD $) | 0 Months Ended | 1 Months Ended | 2 Months Ended | 3 Months Ended | 9 Months Ended | 1 Months Ended | 2 Months Ended | 3 Months Ended | 9 Months Ended |
Jan. 16, 2013 | Mar. 31, 2013 | Feb. 22, 2013 | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2013 | Feb. 22, 2013 | Mar. 31, 2014 | Dec. 31, 2013 | |
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] | ||
Input | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock Price (simulated) (in Dollars per share) | $0.15 | $0.17 | $0.14 | $0.04 | $0.04 | $0.17 | $0.14 | $0.04 | $0.04 |
Strike Price (in Dollars per share) | $0.15 | $0.10 | $0.15 | $0.10 | $0.10 | $0.10 | $0.15 | $0.10 | $0.10 |
Expected remaining term (in years) | '5 years | '2 years 328 days | '3 years | '1 year 324 days | '2 years 54 days | '4 years 94 days | '4 years 138 days | '3 years 94 days | '3 years 6 months |
Stock Volatility | 110.00% | 100.00% | 100.00% | 95.00% | 95.00% | 100.00% | 100.00% | 95.00% | 100.00% |
Risk-Free Rate | 0.75% | 0.24% | 0.40% | 0.41% | 0.21% | 0.62% | 0.70% | 1.01% | 1.02% |
Dividend Rate | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Note_11_Fair_Value_Measures_De5
Note 11 - Fair Value Measures (Details) - A Monte Carlo Simulation Model Fair Value Estimates of February 2013 SPA Option (USD $) | 0 Months Ended | ||
Jan. 16, 2013 | Mar. 31, 2014 | Dec. 31, 2013 | |
A Monte Carlo Simulation Model Fair Value Estimates of February 2013 SPA Option [Abstract] | ' | ' | ' |
Stock Price (in Dollars per share) | $0.15 | ' | ' |
Exercise Price (in Dollars per share) | $0.15 | ' | ' |
Expected Life (in years) | '5 years | ' | ' |
Stock Volatility | 110.00% | ' | ' |
Risk-Free Rate | 0.75% | ' | ' |
Dividend Rate | 0.00% | ' | ' |
Outstanding Shares of Common Stock (in Shares) | 32,434,430 | 125,000,000 | 125,000,000 |
Note_11_Fair_Value_Measures_De6
Note 11 - Fair Value Measures (Details) - Fair Value Monte Carlo Simulation Model February 2013 Warrants (USD $) | 0 Months Ended | 1 Months Ended | 2 Months Ended | 3 Months Ended | 9 Months Ended | ||
Jan. 16, 2013 | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2013 | Feb. 22, 2013 | Mar. 31, 2014 | Dec. 31, 2013 | |
February 2013 Warrants [Member] | February 2013 Warrants [Member] | February 2013 Warrants [Member] | February 2013 Warrants [Member] | ||||
Fair Value Inputs, Liabilities, Quantitative Information [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Stock Price (in Dollars per share) | $0.15 | ' | ' | $0.16 | $0.12 | $0.04 | $0.04 |
Exercise Price (in Dollars per share) | $0.15 | ' | ' | $0.20 | $0.20 | $0.08 | $0.08 |
Expected Life (in years) | '5 years | ' | ' | '4 years 328 days | '5 years | '3 years 324 days | '4 years 54 days |
Stock Volatility | 110.00% | ' | ' | 110.00% | 110.00% | 100.00% | 100.00% |
Risk-Free Rate | 0.75% | ' | ' | 0.75% | 0.84% | 1.27% | 1.34% |
Number of Steps | ' | ' | ' | 100,000 | 100,000 | 100,000 | 100,000 |
Outstanding Shares of Common Stock (in Shares) | 32,434,430 | 125,000,000 | 125,000,000 | 64,389,835 | 59,576,097 | 160,664,862 | 160,664,862 |
Note_11_Fair_Value_Measures_De7
Note 11 - Fair Value Measures (Details) - Pricing Models Input Assumptions Fair Value Estimates (USD $) | 0 Months Ended | 1 Months Ended | 2 Months Ended | 1 Months Ended | 2 Months Ended | ||
Jan. 16, 2013 | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2013 | Feb. 22, 2013 | Mar. 31, 2013 | Feb. 22, 2013 | |
Black-Sholes-Merton Option Pricing Model [Member] | Black-Sholes-Merton Option Pricing Model [Member] | Monte Carlo Simulation Model [Member] | Monte Carlo Simulation Model [Member] | ||||
Note 11 - Fair Value Measures (Details) - Pricing Models Input Assumptions Fair Value Estimates [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Stock Price (in Dollars per share) | $0.15 | ' | ' | $0.17 | $0.14 | $0.66 | $0.10 |
Exercise Price (in Dollars per share) | $0.15 | ' | ' | $0.15 | $0.15 | $0.20 | $0.20 |
Expected Life (in years) | '5 years | ' | ' | '233 days | '9 months | '5 years | '5 years |
Stock Volatility | 110.00% | ' | ' | 110.00% | 110.00% | 110.00% | 110.00% |
Risk-Free Rate | 0.75% | ' | ' | 0.84% | 0.15% | 1.03% | 1.16% |
Number of Steps | ' | ' | ' | ' | ' | 10,000 | 10,000 |
Dividend Rate | 0.00% | ' | ' | 0.00% | 0.00% | ' | ' |
Outstanding Shares of Common Stock (in Shares) | 32,434,430 | 125,000,000 | 125,000,000 | 77,856,502 | 73,042,764 | ' | ' |
Note_11_Fair_Value_Measures_De8
Note 11 - Fair Value Measures (Details) - Fair Value Estimates of Warrants and Options (USD $) | 0 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 1 Months Ended | 2 Months Ended | 1 Months Ended | 2 Months Ended | ||
Jan. 16, 2013 | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2013 | Feb. 22, 2013 | Mar. 31, 2013 | Feb. 22, 2013 | |
September 2013 Warrants [Member] | September 2013 Warrants [Member] | September 2013 SPA Option [Member] | September 2013 SPA Option [Member] | September 2013 SPA Option [Member] | September 2013 SPA Option [Member] | Monte Carlo Simulation Model [Member] | Monte Carlo Simulation Model [Member] | Black-Sholes-Merton Option Pricing Model [Member] | Black-Sholes-Merton Option Pricing Model [Member] | ||||
Monte Carlo Simulation Model [Member] | Monte Carlo Simulation Model [Member] | Monte Carlo Simulation Model [Member] | Monte Carlo Simulation 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) | $0.15 | ' | ' | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.66 | $0.10 | $0.17 | $0.14 |
Exercise Price (in Dollars per share) | $0.15 | ' | ' | $0.08 | $0.08 | $0.08 | $0.08 | $0.06 | $0.06 | $0.20 | $0.20 | $0.15 | $0.15 |
Expected Life (in years) | '5 years | ' | ' | '4 years 171 days | '4 years 262 days | '79 days | '168 days | '79 days | '168 days | '5 years | '5 years | '233 days | '9 months |
Stock Volatility | 110.00% | ' | ' | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 110.00% | 110.00% | 110.00% | 110.00% |
Risk-Free Rate | 0.75% | ' | ' | 1.51% | 1.61% | 0.05% | 0.10% | 0.05% | 0.10% | 1.03% | 1.16% | 0.84% | 0.15% |
Dividend Rate | 0.00% | ' | ' | ' | ' | ' | ' | 0.00% | 0.00% | ' | ' | 0.00% | 0.00% |
Outstanding Shares of Common Stock (in Shares) | 32,434,430 | 125,000,000 | 125,000,000 | ' | ' | ' | ' | 160,664,862 | 160,664,862 | ' | ' | 77,856,502 | 73,042,764 |
Number of Steps | ' | ' | ' | 100,000 | 100,000 | 10,000 | 10,000 | ' | ' | 10,000 | 10,000 | ' | ' |
Note_11_Fair_Value_Measures_De9
Note 11 - Fair Value Measures (Details) - Fair Value Assumptions For Outstanding Convertible Notes (USD $) | 0 Months Ended | 1 Months Ended | 2 Months Ended | 9 Months Ended | 1 Months Ended | 2 Months Ended | 9 Months Ended | 0 Months Ended | 1 Months Ended | 9 Months Ended | |||
Jan. 16, 2013 | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2013 | Feb. 22, 2013 | Dec. 31, 2013 | Mar. 31, 2013 | Feb. 22, 2013 | Dec. 31, 2013 | Jan. 16, 2013 | Mar. 31, 2013 | Feb. 22, 2013 | Dec. 31, 2013 | |
2011 Convertible Notes [Member] | 2011 Convertible Notes [Member] | 2011 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] | ||||
Fair Value Inputs, Liabilities, Quantitative Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock Price (in Dollars per share) | $0.15 | ' | ' | $0.17 | $0.14 | $0.04 | $0.17 | $0.14 | $0.04 | $0.15 | $0.17 | $0.14 | $0.04 |
Strike Price (in Dollars per share) | $0.15 | ' | ' | $0.10 | $0.10 | $0.06 | $0.10 | $0.10 | $0.06 | $0.10 | $0.10 | $0.10 | $0.06 |
Expected remaining term (in years) | '5 years | ' | ' | '2 years 3 months | '2 years 127 days | '1 year 6 months | '2 years 3 months | '2 years 127 days | '1 year 6 months | '3 years | '2 years 292 days | '2 years 328 days | '2 years 14 days |
Stock Volatility | 110.00% | ' | ' | 100.00% | 100.00% | 95.00% | 100.00% | 100.00% | 95.00% | 100.00% | 100.00% | 100.00% | 95.00% |
Risk-Free Rate | 0.75% | ' | ' | 0.28% | 0.32% | 0.25% | 0.28% | 0.32% | 0.26% | 0.36% | 0.34% | 0.39% | 0.40% |
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) | 32,434,430 | 125,000,000 | 125,000,000 | 64,389,835 | 59,576,097 | 160,664,862 | 64,389,835 | 59,576,097 | 160,664,862 | 32,434,430 | 64,389,835 | 59,576,097 | 160,664,862 |
Effective discount rate | ' | ' | ' | 11.60% | 13.20% | 19.60% | 13.20% | 13.20% | 19.60% | 13.20% | 13.20% | 13.20% | 21.30% |
Probability of forced redemption | ' | ' | ' | 20.00% | 20.00% | 20.00% | 20.00% | 20.00% | 20.00% | 20.00% | 20.00% | 20.00% | 20.00% |
Recovered_Sheet1
Note 11 - Fair Value Measures (Details) - Fair Value Assumptions of Tranche Three Convertible Notes (USD $) | 0 Months Ended | 12 Months Ended | ||||||||
Jan. 16, 2013 | Mar. 31, 2014 | Mar. 31, 2014 | Mar. 31, 2014 | Mar. 31, 2014 | Mar. 31, 2014 | Mar. 31, 2014 | Mar. 31, 2014 | Mar. 31, 2014 | Mar. 31, 2014 | |
2011 Convertible Notes [Member] | 2012 Convertible Notes [Member] | Third Tranche Convertible Notes [Member] | Minimum [Member] | Minimum [Member] | Minimum [Member] | Maximum [Member] | Maximum [Member] | Maximum [Member] | ||
2011 Convertible Notes [Member] | 2012 Convertible Notes [Member] | Third Tranche Convertible Notes [Member] | 2011 Convertible Notes [Member] | 2012 Convertible Notes [Member] | Third Tranche Convertible Notes [Member] | |||||
Fair Value Inputs, Liabilities, Quantitative Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock Price (simulated) (in Dollars per share) | $0.15 | $40 | $40 | $40 | ' | ' | ' | ' | ' | ' |
Strike Price (in Dollars per share) | $0.15 | $60 | $60 | $60 | ' | ' | ' | ' | ' | ' |
Expected remaining term (in years) | '5 years | '1 year 3 months | '1 year 3 months | '1 year 3 months | ' | ' | ' | ' | ' | ' |
Stock Volatility | 110.00% | 95.00% | 95.00% | 95.00% | ' | ' | ' | ' | ' | ' |
Risk-Free Rate | 0.75% | 0.20% | 0.20% | 0.40% | ' | ' | ' | ' | ' | ' |
Dividend Rate | 0.00% | 0.00% | 0.00% | 0.00% | ' | ' | ' | ' | ' | ' |
Effective discount rate | ' | 23.90% | 32.50% | 32.50% | ' | ' | ' | ' | ' | ' |
Probability of forced redemption or transaction event | ' | ' | ' | ' | 20.00% | 20.00% | 20.00% | 50.00% | 50.00% | 50.00% |
Note_12_Commitments_Details
Note 12 - Commitments (Details) (USD $) | 3 Months Ended | 1 Months Ended | 3 Months Ended | ||
Mar. 31, 2014 | Apr. 30, 2014 | Apr. 30, 2014 | Mar. 31, 2014 | Mar. 31, 2014 | |
Subsequent Event [Member] | Subsequent Event [Member] | Outside Contract Manufacturers [Member] | Clinical Research Organization [Member] | ||
September 2016 To August 2017 [Member] | September 2016 To August 2017 [Member] | ||||
Minimum [Member] | Maximum [Member] | ||||
Note 12 - Commitments (Details) [Line Items] | ' | ' | ' | ' | ' |
Operating Leases, Rent Expense | ' | $43,500 | $49,500 | ' | ' |
Number of Separate Outside Contract Manufacturers | 2 | ' | ' | ' | ' |
Long-term Purchase Commitment, Amount | ' | ' | ' | $0 | $0 |
Note_12_Commitments_Details_Fu
Note 12 - Commitments (Details) - Future Minimum Lease Payments (USD $) | Mar. 31, 2014 |
In Thousands, unless otherwise specified | |
Future Minimum Lease Payments [Abstract] | ' |
2014 | $33 |
2015 | 45 |
2016 | 48 |
2017 | 33 |
Total | $159 |
Note_13_Subsequent_Events_Deta
Note 13 - Subsequent Events (Details) (USD $) | 0 Months Ended | 3 Months Ended | 3 Months Ended | |||
Jan. 16, 2013 | Mar. 31, 2014 | 9-May-13 | Apr. 14, 2014 | Apr. 14, 2014 | Apr. 14, 2014 | |
Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | |||
Proposed Merger Transaction [Member] | Warrant 2013 [Member] | Investor [Member] | ||||
GCP IV, LLC [Member] | Securities Purchase Agreement [Member] | |||||
Amendment and Waiver to Securities Purchase Agreement [Member] | ||||||
Note 13 - Subsequent Events (Details) [Line Items] | ' | ' | ' | ' | ' | ' |
Remaining Funding Amount Under Agreement | ' | ' | ' | ' | ' | $750,000 |
Debt Instrument, Interest Rate, Stated Percentage | ' | ' | ' | ' | 5.00% | ' |
Debt Instrument, Face Amount | ' | 250,000 | ' | ' | 250,000 | ' |
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | ' | ' | 940,189 | ' | 4,166,667 | ' |
Class of Warrant or Right, Exercise Price of Warrants or Rights | ' | ' | 0.53 | ' | 0.09 | ' |
Proceeds from Issuance of Debt | $250,000 | ' | ' | ' | ' | $250,000 |
Class of Warrant or Right Exercise Period of Warrants or Rights | ' | ' | ' | '5 years | ' | ' |
Class of Warrant or Right Warrants Issued | ' | ' | ' | 0.09 | ' | ' |