Quarterly report pursuant to Section 13 or 15(d)

Fair Value Measurements (Tables)

v3.5.0.2
Fair Value Measurements (Tables)
9 Months Ended
Sep. 30, 2016
Fair Value Disclosures [Abstract]  
Summary of Financial Liabilities Measured at Fair Value on Recurring Basis
The following table summarizes the financial liabilities measured at fair value on a recurring basis segregated by the level of valuation inputs within the fair value hierarchy utilized to measure fair value (in thousands):
 
September 30, 2016
 
Total
 
Quoted Prices in
Active Markets for
Identical Assets
(Level 1)
 
Significant Other
Observable
Inputs
(Level 2)
 
Significant
Unobservable
Inputs
(Level 3)
Warrant liability
$
2,814

 
$

 
$

 
$
2,814

Notes payable
147

 

 

 
147

 
$
2,961

 
$

 
$

 
$
2,961

 
 
 
 
 
 
 
 
 
December 31, 2015
 
Total
 
Quoted Prices in
Active Markets for
Identical Assets
(Level 1)
 
Significant Other
Observable
Inputs
(Level 2)
 
Significant
Unobservable
Inputs
(Level 3)
Warrant liability
$
17

 
$

 
$

 
$
17

Notes payable
266

 

 

 
266

 
$
283

 
$

 
$

 
$
283

 
 
 
 
 
 
 
 
Schedule of Fair Value Notes Payable of Business Acquisition and Warrant Liability
The following table summarizes the activity of the notes payable to VenturEast and the warrant liability, which were measured at fair value using Level 3 inputs (in thousands):
 
Note Payable
 
Warrant
 
to VenturEast
 
Liability
Fair value at December 31, 2015
$
266

 
$
17

2016 Offerings

 
3,526

Change in fair value
(119
)
 
(729
)
Fair value at September 30, 2016
$
147

 
$
2,814