Document_and_Entity_Informatio
Document and Entity Information | 3 Months Ended | |
Mar. 31, 2015 | 8-May-15 | |
Document And Entity Information [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | FALSE | |
Document Period End Date | 31-Mar-15 | |
Document Fiscal Year Focus | 2015 | |
Document Fiscal Period Focus | Q1 | |
Trading Symbol | NANX | |
Entity Registrant Name | NANOPHASE TECHNOLOGIES CORPORATION | |
Entity Central Index Key | 883107 | |
Current Fiscal Year End Date | -19 | |
Entity Filer Category | Smaller Reporting Company | |
Entity Common Stock, Shares Outstanding | 28,585,496 |
Balance_Sheets
Balance Sheets (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | ||
Current assets: | ||
Cash and cash equivalents | $1,207 | $1,862 |
Trade accounts receivable, less allowance for doubtful accounts of $6 on March 31, 2015 and December 31, 2014 | 1,259 | 388 |
Inventories, net | 826 | 950 |
Prepaid expenses and other current assets | 353 | 367 |
Total current assets | 3,645 | 3,567 |
Equipment and leasehold improvements, net | 1,993 | 2,138 |
Other assets, net | 24 | 25 |
Total assets | 5,662 | 5,730 |
Current liabilities: | ||
Current portion of capital lease obligations | 62 | 70 |
Accounts payable | 1,009 | 493 |
Accrued expenses | 408 | 413 |
Total current liabilities | 1,479 | 976 |
Long-term portion of capital lease obligations | 106 | 121 |
Long-term deferred rent | 596 | 621 |
Asset retirement obligations | 168 | 166 |
Total long-term liabilities | 870 | 908 |
Stockholders' equity: | ||
Preferred stock, $.01 par value, 24,088 shares authorized and no shares issued and outstanding | ||
Common stock, $.01 par value, 35,000,000 shares authorized; 28,585,496 and 28,516,163 shares issued and outstanding on March 31, 2015 and December 31, 2014, respectively | 286 | 285 |
Additional paid-in capital | 96,038 | 95,966 |
Accumulated deficit | -93,011 | -92,405 |
Total stockholders' equity | 3,313 | 3,846 |
Total liabilities and stockholders' equity | $5,662 | $5,730 |
Balance_Sheets_Parenthetical
Balance Sheets (Parenthetical) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, except Share data, unless otherwise specified | ||
Statement of Financial Position [Abstract] | ||
Trade accounts receivable, less allowance for doubtful accounts | $6 | $6 |
Preferred stock, par value | $0.01 | $0.01 |
Preferred stock, shares authorized | 24,088 | 24,088 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
Common stock, par value | $0.01 | $0.01 |
Common stock, shares authorized | 35,000,000 | 35,000,000 |
Common stock, shares issued | 28,585,496 | 28,516,163 |
Common stock, shares outstanding | 28,585,496 | 28,516,163 |
Statements_of_Operations_Unaud
Statements of Operations (Unaudited) (USD $) | 3 Months Ended | |
In Thousands, except Share data, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Revenue: | ||
Product revenue | $2,300 | $2,576 |
Other revenue | 10 | 9 |
Total revenue | 2,310 | 2,585 |
Operating expense: | ||
Cost of revenue | 1,745 | 1,877 |
Gross profit | 565 | 708 |
Research and development expenses | 302 | 337 |
Selling, general and administrative expenses | 866 | 798 |
Loss from operations | -603 | -427 |
Interest expense | -3 | -2 |
Other, net | 0 | 0 |
Loss before provision for income taxes | -606 | -429 |
Provision for income taxes | 0 | 0 |
Net loss | ($606) | ($429) |
Net loss per share-basic and diluted | ($0.02) | ($0.02) |
Weighted average number of basic and diluted common shares outstanding | 28,542,533 | 28,481,496 |
Statements_of_Cash_Flows_Unaud
Statements of Cash Flows (Unaudited) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Operating activities: | ||
Net loss | ($606) | ($429) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Depreciation and amortization | 184 | 187 |
Stock compensation expense | 47 | 57 |
Changes in assets and liabilities related to operations: | ||
Trade accounts receivable | -871 | -1,078 |
Other accounts receivable | 1 | |
Inventories | 124 | 45 |
Prepaid expenses and other assets | 15 | -48 |
Accounts payable | 525 | 264 |
Accrued expenses | -30 | -67 |
Net cash used in operating activities | -612 | -1,068 |
Investing activities: | ||
Acquisition of equipment and leasehold improvements | -38 | -30 |
Payment of accounts payable incurred for the purchase of equipment and leasehold improvements | -8 | -23 |
Net cash used in investing activities | -46 | -53 |
Financing activities: | ||
Principal payments on capital leases | -23 | -7 |
Proceeds from exercise of stock options | 26 | 0 |
Net cash provided by (used in) financing activities | 3 | -7 |
Decrease in cash and cash equivalents | -655 | -1,128 |
Cash and cash equivalents at beginning of period | 1,862 | 3,276 |
Cash and cash equivalents at end of period | 1,207 | 2,148 |
Supplemental cash flow information: | ||
Interest paid | 3 | 1 |
Supplemental non-cash investing and financing activities: | ||
Accounts payable incurred for the purchase of equipment and leasehold improvements | $61 | $10 |
Basis_of_Presentation
Basis of Presentation | 3 Months Ended |
Mar. 31, 2015 | |
Accounting Policies [Abstract] | |
Basis of Presentation | (1) Basis of Presentation |
The accompanying unaudited interim financial statements of Nanophase Technologies Corporation (“Nanophase” or the “Company”, including “we”, “our” or “us”) reflect all adjustments (consisting of normal recurring adjustments) which, in the opinion of management, are necessary for a fair presentation of our financial position and operating results for the interim periods presented. Operating results for the three months ended March 31, 2015 are not necessarily indicative of the results that may be expected for the year ending December 31, 2015. | |
These financial statements should be read in conjunction with our audited financial statements and notes thereto for the year ended December 31, 2014, included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2014, as filed with the Securities and Exchange Commission. |
Description_of_Business
Description of Business | 3 Months Ended |
Mar. 31, 2015 | |
Accounting Policies [Abstract] | |
Description of Business | (2) Description of Business |
Nanophase is an advanced materials and applications developer and commercial manufacturer with an integrated family of nanomaterial and related technologies. We produce engineered nano and larger, sub-micron, materials for use in a variety of diverse markets: personal care including sunscreens, architectural coatings, industrial coating applications, abrasion-resistant additives, plastics additives, medical diagnostics, energy, and a variety of surface finishing technologies (polishing) applications. We target markets in which we believe practical solutions may be found using our products. We work closely with current and potential customers in these target markets to identify their material and performance requirements and market our materials to various end-use applications manufacturers. Recently developed technologies have made certain new products possible and opened potential new markets. We recently developed new material solutions in surface finishing technologies (polishing) and energy-management areas that have been taken to potential customers, and for which we are experiencing accelerating revenue growth (former) and are in the process of commercial testing and qualification (latter). Although our primary strategic focus has been the North American market, we currently sell material to customers overseas and have been working to expand our reach within foreign markets. | |
The Company was incorporated in Illinois on November 25, 1989, and became a Delaware corporation in November 1997. Our common stock trades on the OTCQB marketplace under the symbol NANX. | |
While product sales comprise the overwhelming majority of our revenue, we also recognize revenue from other sources from time to time. These activities are not expected to drive the long-term growth of the business. For this reason we classify such revenue as “other revenue” in our Statements of Operations, as it does not represent revenue directly from our nanocrystalline materials. |
Financial_Instruments
Financial Instruments | 3 Months Ended |
Mar. 31, 2015 | |
Fair Value Disclosures [Abstract] | |
Financial Instruments | (3) Financial Instruments |
We follow the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 820, Fair Value Measurements and Disclosures, which defines fair value, establishes a framework for measuring fair value, and expands disclosures about fair value measurements. The fair value framework requires the categorization of assets and liabilities into three levels based upon the assumptions (inputs) used to price the assets or liabilities. Level 1 provides the most reliable measure of fair value, whereas Level 3 generally requires significant management judgment. | |
Our financial instruments include cash and cash equivalents, accounts receivable, accounts payable and accrued expenses. The fair values of all financial instruments were not materially different from their carrying values. |
Notes
Notes | 3 Months Ended |
Mar. 31, 2015 | |
Debt Disclosure [Abstract] | |
Notes | (4) Notes |
During July 2014, we entered into a bank-issued letter of credit and related promissory note for up to $30 in borrowings to support our obligations under our facility lease agreement. No borrowings have been incurred under this promissory note. Should any borrowings occur in the future, the interest rate would be the prime rate plus 1%, with the bank having the right to “set off” or apply unpaid balances against our checking account if we fail to meet our obligations under any borrowings under the note. It is our intention to renew this note annually, for as long as we need to pursuant to the terms of our facility lease agreement. Because there were no amounts outstanding at any time during 2014 or 2015, we have recorded no related liability on our balance sheet. | |
During March 2015, we entered into a Business Loan Agreement (the “Line of Credit Agreement”) with Libertyville Bank and Trust Company, a Wintrust Community Bank (“Libertyville”), our primary bank. Under the Line of Credit Agreement, Libertyville will provide a maximum of $300, or 75% of our eligible accounts receivable, whichever is less, of revolving credit, collateralized by a senior priority lien on our accounts receivable, inventory, equipment, general intangibles and fixtures. Interest on any borrowings would be the prime rate at the time plus 1%. We must have at least $1 million in cash, including any amounts borrowed, at Libertyville on the date of any advance. Advances may only occur at the beginning or end of a fiscal quarter and must be repaid in full within five days of the advance. The Line of Credit Agreement expires on March 4, 2016. There have been no advances under this Line of Credit Agreement since inception. |
Inventories
Inventories | 3 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
Inventory Disclosure [Abstract] | |||||||||
Inventories | (5) Inventories | ||||||||
Inventories consist of the following: | |||||||||
March 31, 2015 | December 31, 2014 | ||||||||
Raw materials | $ | 250 | $ | 173 | |||||
Finished goods | 628 | 829 | |||||||
878 | 1,002 | ||||||||
Allowance for excess inventory quantities | (52 | ) | (52 | ) | |||||
$ | 826 | $ | 950 | ||||||
ShareBased_Compensation
Share-Based Compensation | 3 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |||||||||
Share-Based Compensation | (6) Share-Based Compensation | ||||||||
We follow FASB ASC Topic 718, Share-Based Payments, in which compensation expense is recognized only for share-based payments expected to vest. We recognized compensation expense related to stock options of $47 and $57 for the three month periods ended March 31, 2015 and 2014, respectively. | |||||||||
As of March 31, 2015, there was approximately $340 of total unrecognized compensation cost related to nonvested share-based compensation arrangements granted under our stock option plans. That cost is expected to be recognized over a remaining weighted-average period of 2.1 years. | |||||||||
Stock Options and Stock Grants | |||||||||
During the three months ended March 31, 2015, 69,333 shares of common stock were issued pursuant to option exercises for proceeds of $26, while no stock options were exercised during the same period in 2014. For the three months ended March 31, 2015, 446,100 stock options were granted compared to 568,000 stock options granted during the same period in 2014. During the three months ended March 31, 2015, 159,000 stock options were forfeited compared to no stock options forfeited during the same period in 2014. We had 2,658,100 stock options outstanding at a weighted average exercise price of $1.00 on March 31, 2015, compared to 2,440,000 stock options outstanding at a weighted average exercise price of $1.15 on December 31, 2014. | |||||||||
Stock Appreciation Rights | |||||||||
Prior to 2011, we granted our outside directors stock appreciation rights (SARs). The change in fair value of the awards granted during prior years is included in non-cash compensation expense for the quarters ended March 31, 2015 and 2014. The SARs granted vested immediately and are payable upon the directors’ removal or resignation from the position of director. These awards are accounted for as liability awards, included in accrued expenses as of March 31, 2015 and 2014, and adjusted to fair value each reporting period. The fair value of the liability was $1 on both March 31, 2015 and December 31, 2014. | |||||||||
As of March 31, 2015, we did not have any unvested restricted stock or performance shares outstanding. | |||||||||
The following table illustrates the various assumptions used to calculate the Black-Scholes option pricing model for stock options granted during the three month periods ended: | |||||||||
March 31, | March 31, | ||||||||
2015 | 2014 | ||||||||
Weighted-average risk-free interest rates: | 1.74 | % | 2.01 | % | |||||
Dividend yield: | — | — | |||||||
Weighted-average expected life of the option: | 7 years | 7 years | |||||||
Weighted-average expected stock price volatility: | 95 | % | 95 | % | |||||
Weighted-average fair value of the options granted: | $ | 0.44 | $ | 0.42 |
Significant_Customers_and_Cont
Significant Customers and Contingencies | 3 Months Ended |
Mar. 31, 2015 | |
Text Block [Abstract] | |
Significant Customers and Contingencies | (7) Significant Customers and Contingencies |
Revenue from three customers constituted approximately 59%, 10% and 8%, respectively, of our total revenue for the three months ended March 31, 2015. Amounts included in accounts receivable on March 31, 2015 relating to these three customers were approximately $578, $240 and $109, respectively. Revenue from these three customers constituted approximately 80%, 0% and 2%, respectively, of our total revenue for the three months ended March 31, 2014. Amounts included in accounts receivable on March 31, 2014 relating to these three customers were approximately $784, none and $57, respectively. The loss of one of these significant customers, a significant decrease in revenue from one or more of these customers, or the failure to attract new customers could have a material adverse effect on our business, results of operations and financial condition. | |
We currently have exclusive supply agreements with BASF Corporation (“BASF”), our largest customer, that have contingencies outlined which could potentially result in the license of technology and/or the sale of production equipment from the Company to the customer intended to provide capacity sufficient to meet the customer’s production needs. This outcome may occur if we fail to meet certain performance requirements, certain other obligations and/or certain financial condition covenants. The financial condition covenants in one of our supply agreements with BASF “trigger” a technology transfer right (license and equipment sale at BASF’s option) in the event (a) that earnings for the twelve month period ending with our most recently published quarterly financial statements are less than zero and our cash, cash equivalents and certain investments are less than $1 million, or (b) of an acceleration of any debt maturity having a principal amount of more than $10 million. Our supply agreements with BASF also “trigger” a technology transfer right in the event of our insolvency, as further defined within the agreements. In the event of an equipment sale, upon incurring a triggering event, the equipment would be sold to the customer at either 115% of the equipment’s net book value or the greater of 30% of the original book value of such equipment, and any associated upgrades to it, or 115% of the equipment’s net book value, depending on the contract and related equipment. | |
We believe that we have sufficient cash and credit availability (See Liquidity and Capital Resources in Management’s Discussion and Analysis in Part I, Item 2 of this Form 10-Q for a further discussion) to operate our business during 2015. If a triggering event were to occur and BASF elected to proceed with the license and related equipment sale mentioned above, we would receive royalty payments from this customer for products sold using our technology; however, we would lose both significant revenue and the ability to generate significant revenue to replace that which was lost in the near term. Replacement of necessary equipment that could be purchased and removed by the customer pursuant to this triggering event could take in excess of twelve months. Any additional capital outlays required to rebuild capacity would probably be greater than the proceeds from the purchase of the assets as dictated by our agreement with the customer. Similar consequences would occur if we were determined to have materially breached certain other provisions of the supply agreement with BASF. Any such event would also likely result in the loss of many of our key staff and line employees due to economic realities. We believe that our employees are a critical component of our success and it could be difficult to replace them quickly. Given the occurrence of any such event, we might not be able to hire and retain skilled employees given the stigma relating to such an event and its impact on us. Finally, any shortfall in capital needed to operate the business as management intends, including with respect to avoiding this triggering event as described above, may result in a curtailment of certain activities or anticipated investments. | |
Should events arise that make it appropriate for us to seek additional financing, such additional financing may not be available on acceptable terms or even at all, and any such financing could be dilutive to our stockholders. Such a financing could be necessitated by such things as the loss of one or more significant customers or a significant decline in revenue from those customers, currently unknown capital requirements, new regulatory requirements, the need to meet cash requirements under our BASF agreement to avoid a triggering event, or other circumstances not currently anticipated by us. The failure to obtain sufficient capital may impair or curtail our business plans and under such circumstances may raise doubt regarding our ability to continue as a going concern. |
Business_Segmentation_and_Geog
Business Segmentation and Geographical Distribution | 3 Months Ended |
Mar. 31, 2015 | |
Segment Reporting [Abstract] | |
Business Segmentation and Geographical Distribution | (8) Business Segmentation and Geographical Distribution |
Revenue from international sources approximated $375 and $111 for the three months ended March 31, 2015 and 2014, respectively. All of this revenue was product revenue. | |
Our operations comprise a single business segment and all of our long-lived assets are located within the United States. |
Financial_Instruments_Policies
Financial Instruments (Policies) | 3 Months Ended |
Mar. 31, 2015 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurements and Disclosures | We follow the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 820, Fair Value Measurements and Disclosures, which defines fair value, establishes a framework for measuring fair value, and expands disclosures about fair value measurements. The fair value framework requires the categorization of assets and liabilities into three levels based upon the assumptions (inputs) used to price the assets or liabilities. Level 1 provides the most reliable measure of fair value, whereas Level 3 generally requires significant management judgment. |
Share-Based Payments | We follow FASB ASC Topic 718, Share-Based Payments, in which compensation expense is recognized only for share-based payments expected to vest. We recognized compensation expense related to stock options of $47 and $57 for the three month periods ended March 31, 2015 and 2014, respectively. |
Inventories_Tables
Inventories (Tables) | 3 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
Inventory Disclosure [Abstract] | |||||||||
Summary of Inventories | Inventories consist of the following: | ||||||||
March 31, 2015 | December 31, 2014 | ||||||||
Raw materials | $ | 250 | $ | 173 | |||||
Finished goods | 628 | 829 | |||||||
878 | 1,002 | ||||||||
Allowance for excess inventory quantities | (52 | ) | (52 | ) | |||||
$ | 826 | $ | 950 | ||||||
ShareBased_Compensation_Tables
Share-Based Compensation (Tables) | 3 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |||||||||
Schedule of Assumptions Used to Calculate Black-Scholes Option Pricing Model for Stock Options Granted | The following table illustrates the various assumptions used to calculate the Black-Scholes option pricing model for stock options granted during the three month periods ended: | ||||||||
March 31, | March 31, | ||||||||
2015 | 2014 | ||||||||
Weighted-average risk-free interest rates: | 1.74 | % | 2.01 | % | |||||
Dividend yield: | — | — | |||||||
Weighted-average expected life of the option: | 7 years | 7 years | |||||||
Weighted-average expected stock price volatility: | 95 | % | 95 | % | |||||
Weighted-average fair value of the options granted: | $ | 0.44 | $ | 0.42 |
Notes_Additional_Information_D
Notes - Additional Information (Detail) (USD $) | 3 Months Ended | 1 Months Ended | |
Mar. 31, 2015 | Jul. 31, 2014 | Mar. 31, 2014 | |
Line of Credit Facility [Line Items] | |||
Investment amount outstanding | $0 | $0 | |
Investment related liability | 0 | ||
Libertyville Bank and Trust Company [Member] | |||
Line of Credit Facility [Line Items] | |||
Investment amount outstanding | 0 | ||
Line of credit facility, maximum borrowing capacity | 300,000 | ||
Line of credit facility maximum borrowing capacity as percentage of accounts receivable | 75.00% | ||
Minimum amount of cash required on advances | 1,000,000 | ||
Line of credit facility repayment period | 5 days | ||
Line of credit facility, expiration date | 4-Mar-16 | ||
Libertyville Bank and Trust Company [Member] | Prime Rate [Member] | |||
Line of Credit Facility [Line Items] | |||
Variable interest rate | 1.00% | ||
Letter of Credit [Member] | |||
Line of Credit Facility [Line Items] | |||
Letter of credit and related promissory note | 30,000 | ||
Borrowings incurred | $0 | ||
Interest rate | 1.00% |
Inventories_Summary_of_Invento
Inventories - Summary of Inventories (Detail) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | ||
Inventory Disclosure [Abstract] | ||
Raw materials | $250 | $173 |
Finished goods | 628 | 829 |
Inventory gross, Total | 878 | 1,002 |
Allowance for excess inventory quantities | -52 | -52 |
Inventories net, Total | $826 | $950 |
ShareBased_Compensation_Additi
Share-Based Compensation - Additional Information (Detail) (USD $) | 3 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 | Dec. 31, 2014 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share-based compensation expense | $47 | $57 | |
Total unrecognized compensation cost related to nonvested share-based compensation arrangements granted | 340 | ||
Weighted-average period over which unrecognized compensation is expected to be recognized | 2 years 1 month 6 days | ||
Common stock issued pursuant to option exercises | 69,333 | 0 | |
Proceeds from exercise of stock options | 26 | 0 | |
Stock options granted | 446,100 | 568,000 | |
Stock options forfeited | 159,000 | 0 | |
Stock options outstanding | 2,658,100 | 2,440,000 | |
Weighted average exercise price | $1 | $1.15 | |
Common stock, shares outstanding | 28,585,496 | 28,516,163 | |
Restricted Stock [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Common stock, shares outstanding | 0 | ||
Performance Shares [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Common stock, shares outstanding | 0 | ||
Stock Appreciation Rights (SARs) [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Fair value of the liability | $1 | $1 |
ShareBased_Compensation_Schedu
Share-Based Compensation - Schedule of Assumptions Used to Calculate Black-Scholes Option Pricing Model for Stock Options Granted (Detail) (USD $) | 3 Months Ended | |
Mar. 31, 2015 | Mar. 31, 2014 | |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology [Abstract] | ||
Weighted-average risk-free interest rates | 1.74% | 2.01% |
Dividend yield | 0.00% | 0.00% |
Weighted-average expected life of the option | 7 years | 7 years |
Weighted-average expected stock price volatility | 95.00% | 95.00% |
Weighted-average fair value of the options granted | $0.44 | $0.42 |
Significant_Customers_and_Cont1
Significant Customers and Contingencies - Additional Information (Detail) (USD $) | 3 Months Ended | ||
Mar. 31, 2015 | Mar. 31, 2014 | Dec. 31, 2014 | |
Customer | |||
Revenue, Major Customer [Line Items] | |||
Number of major customers | 3 | ||
Accounts receivable | $1,259,000 | $388,000 | |
Customers One [Member] | |||
Revenue, Major Customer [Line Items] | |||
Accounts receivable | 578,000 | 784,000 | |
Customers One [Member] | Customer Concentration Risk [Member] | Sales [Member] | |||
Revenue, Major Customer [Line Items] | |||
Revenue from top customers | 59.00% | 80.00% | |
Customers Two [Member] | |||
Revenue, Major Customer [Line Items] | |||
Accounts receivable | 240,000 | 0 | |
Customers Two [Member] | Customer Concentration Risk [Member] | Sales [Member] | |||
Revenue, Major Customer [Line Items] | |||
Revenue from top customers | 10.00% | 0.00% | |
Customers Three [Member] | |||
Revenue, Major Customer [Line Items] | |||
Accounts receivable | 109,000 | 57,000 | |
Customers Three [Member] | Customer Concentration Risk [Member] | Sales [Member] | |||
Revenue, Major Customer [Line Items] | |||
Revenue from top customers | 8.00% | 2.00% | |
BASF [Member] | |||
Revenue, Major Customer [Line Items] | |||
Supply agreements with BASF Corporation | The financial condition covenants in one of our supply agreements with BASF "trigger" a technology transfer right (license and equipment sale at BASF's option) in the event (a) that earnings for the twelve month period ending with our most recently published quarterly financial statements are less than zero and our cash, cash equivalents and certain investments are less than $1 million, or (b) of an acceleration of any debt maturity having a principal amount of more than $10 million. | ||
Minimum contractual covenant - net earnings previous twelve months | 0 | ||
Net book value equipment | 115.00% | ||
BASF [Member] | Maximum [Member] | |||
Revenue, Major Customer [Line Items] | |||
Cash, cash equivalents and investments, maximum | 1,000,000 | ||
BASF [Member] | Minimum [Member] | |||
Revenue, Major Customer [Line Items] | |||
Principal amount of debt on maturity, minimum | $10,000,000 | ||
Original book value of equipment, Minimum | 30.00% |
Business_Segmentation_and_Geog1
Business Segmentation and Geographical Distribution - Additional Information (Detail) (Non-Domestic Revenue [Member], USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Non-Domestic Revenue [Member] | ||
Revenue from External Customer [Line Items] | ||
Revenue from international sources | $375 | $111 |