General form of registration statement for all companies including face-amount certificate companies

8. FAIR VALUE MEASUREMENTS (Tables)

v2.4.0.6
8. FAIR VALUE MEASUREMENTS (Tables)
 9 Months Ended
Sep. 30, 2012
Fair Value Measurements Tables  
Significant assumptions used in the valuations

  

Original Issue
Date		     Exercise Price       Volatility       Risk
Free Int
Rate		       Term
(yrs)		       Marketability
Discount		       Fair Value  
                                                 
October 2010   $ 0.12       75.6%       0.62%       5.10       48.0%     $ 43  
December 2011   $ 0.84       77.7%       0.47%       4.21       55.9%       585  
July 2012   $ 0.50       76.8%       0.62%       4.76       57.5%       3,351  
July 2012   $ 0.43       73.9%       0.17%       1.26       57.5%       858  
September 2012   $ 0.59       74.1%       0.31%       3.00       58.5%       1,658  
                                            $ 6,495  
                                                 

 

As of December 31, 2011:

 

Original Issue
Date		     Exercise Price       Volatility       Risk
Free Int
Rate		       Term
(yrs)		       Marketability
Discount		     Fair Value  
                                                 
October 2010   $ 0.45       68.0%       1.09%       5.90       47.4%     $ 226  
December 2011   $ 1.50       68.0%       0.83%       4.96       52.0%       1,695  
                                            $ 1,921  

 
Changes in the fair value of the Company's Level 3 inputs

 

 

 

Balance, December 31, 2011   $ 1,921  
Warrant exercises     (112 )
Adjustments to fair value for the period     33  
Balance, March 31, 2012     1,842  
Adjustments to fair value for the period     (1,285 )
Balance, June 30, 2012     557  
July Offering     3,380  
September Offering     1,658  
Adjustments to fair value for the period     900  
Balance, September 30, 2012   $ 6,495  

Summary of fair value measurements by level

 

The following table summarizes fair value measurements by level at September 30, 2012 (in thousands):

 

    Level 1     Level 2     Level 3     Total  
Assets:                                
Commodity contracts(1)   $ 514       –       –     $ 514  
Total Assets   $ 514     $ –     $ –     $ 514  

__________

(1) Included in other current assets in the consolidated balance sheets.

 

 

    Level 1     Level 2     Level 3     Total  
Liabilities:                                
Warrants   $ –     $ –     $ 6,495     $ 6,495  
Commodity contracts(1)     291       –       –       291  
Total Liabilities   $ 291     $ –     $ 6,495     $ 6,786  

__________

(1) Included in accrued liabilities in the consolidated balance sheets.

 

The following tables summarize fair value measurements by level at December 31, 2011 (in thousands):

 

    Level 1     Level 2     Level 3     Total  
Assets:                                
Commodity contracts(1)   $ 244       –       –     $ 244  
Total Assets   $ 244     $ –     $ –     $ 244  

__________

(1) Included in other current assets in the consolidated balance sheets.

  

    Level 1     Level 2     Level 3     Total  
Liabilities:                                
Warrants(1)   $ –     $ –     $ 1,921     $ 1,921  
Commodity contracts(2)     500       –       –       500  
Total Liabilities   $ 500     $ –     $ 1,921     $ 2,421  

__________

(1) Included in other liabilities in the consolidated balance sheets.

(2) Included in accrued liabilities in the consolidated balance sheets.