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Derivative Instruments
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6 Months Ended |
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Jun. 30, 2014
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| Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
| Derivative Instruments |
Derivative Instruments
Certain embedded features of our convertible securities and notes payable, as well as warrants to purchase our common stock, may be treated as derivative liabilities. The estimated fair values of the derivative liabilities are recorded as non-current liabilities on the consolidated balance sheet. Changes in the estimated fair values of the derivative liabilities are recorded in the consolidated statement of operations as non-cash income (expense). We do not use derivative instruments for hedging of market risks or for trading or speculative purposes.
At June 30, 2014, derivative liabilities consist of the Series JJ warrants issued to Crede in September 2013. The net effect of marking the Company's derivative liabilities to market during the three-month and six-month periods ended June 30, 2014 resulted in net decreases in the estimated fair values of the derivative liabilities of approximately $4,000 and $3,000, respectively, which were recorded as non-cash changes in the fair value of financial instruments. The total estimated fair value of our derivative liabilities was $7.7 million as of June 30, 2014. No derivative liabilities were outstanding as of December 31, 2013. See Notes 1b(3) and 2.
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- Details
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- Definition
The entire disclosure for derivative instruments and hedging activities including, but not limited to, risk management strategies, non-hedging derivative instruments, assets, liabilities, revenue and expenses, and methodologies and assumptions used in determining the amounts. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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