Annual report pursuant to Section 13 and 15(d)

Organization and Summary of Significant Accounting Policies (Tables)

Organization and Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2015

Organization and Summary of Significant Accounting Policies [Abstract]

Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]

The following table sets forth the reconciliation of the numerator and denominator used in the computation of basic and diluted net income (loss) per common share for the years ended December 31, 2015, 2014 and 2013:

	Years ended December 31,
(in thousands, except per share amounts)	2015		2014		2013
Numerator:
Net income (loss) used for basic earnings per share	$	(11,279)	$	(2,403)	$	9,711
Less change in fair value of warrant liability		—		1,083		1,737
Net (loss) income used for diluted earnings per share	$	(11,279)	$	(3,486)	$	7,974
Denominator:
Basic weighted-average outstanding common shares		20,053		17,057		14,927
Effect of dilutive potential common shares resulting from options		—		3		90
Effect of dilutive potential common shares resulting from warrants		—		—		12
Weighted-average shares outstanding—diluted		20,053		17,060		15,029
Net income (loss) per common share:
Basic	$	(0.56)	$	(0.14)	$	0.65
Diluted	$	(0.56)	$	(0.20)	$	0.53

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block]

The table below presents common shares underlying stock options and warrants that are excluded from the calculation of the weighted average number of shares of common stock outstanding used for the calculation of diluted net income (loss) per common share. These are excluded from the calculation due to their anti-dilutive effect for the years ended December 31, 2015, 2014 and 2013:

	Years ended December 31,
(in thousands)	2015		2014		2013
Weighted-average anti-dilutive common shares resulting from options and awards		1,346		1,254		478
Weighted-average anti-dilutive common shares resulting from warrants		231		425		123
		1,577		1,679		601

Fair Value of Warrant Liability [Table Text Block]

The following table rolls forward the fair value of the Company’s warrant liability, the fair value of which is determined by Level 3 inputs for the years ended December 31, 2015 and 2014 (in thousands):

	December 31,
	2015		2014
Fair value, beginning of period	$	5,578	$	1,817
Issuance of warrants		—		4,844
Reclassification of Class A and Underwriter warrants to equity		(8,646)		—
Change in fair value		4,512		(1,083)
Fair value, end of period	$	1,444	$	5,578