Document_And_Entity_Informatio
Document And Entity Information | 6 Months Ended | |
Jun. 30, 2014 | Jul. 25, 2014 | |
Document Information [Line Items] | ' | ' |
Document Type | '10-Q | ' |
Amendment Flag | 'false | ' |
Document Period End Date | 30-Jun-14 | ' |
Document Fiscal Year Focus | '2014 | ' |
Document Fiscal Period Focus | 'Q2 | ' |
Trading Symbol | 'VRNG | ' |
Entity Common Stock, Shares Outstanding | ' | 92,545,862 |
Entity Registrant Name | 'Vringo Inc | ' |
Entity Central Index Key | '0001410428 | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Entity Filer Category | 'Accelerated Filer | ' |
CONSOLIDATED_BALANCE_SHEETS
CONSOLIDATED BALANCE SHEETS (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Current assets | ' | ' |
Cash and cash equivalents | $31,654 | $33,586 |
Assets held for sale | 0 | 787 |
Deposits with courts | 2,304 | 0 |
Other current assets | 224 | 455 |
Total current assets | 34,182 | 34,828 |
Property and equipment, at cost, net of $348 and $134 accumulated depreciation, as of June 30, 2014 and December 31, 2013, respectively | 161 | 230 |
Intangible assets, net | 20,823 | 22,748 |
Goodwill | 65,757 | 65,757 |
Other assets | 1,034 | 247 |
Total assets | 121,957 | 123,810 |
Current liabilities | ' | ' |
Accounts payable and accrued expenses | 4,582 | 5,146 |
Accrued employee compensation | 36 | 299 |
Derivative warrant liabilities | 89 | 43 |
Total current liabilities | 4,707 | 5,488 |
Long-term liabilities | ' | ' |
Derivative warrant liabilities | 3,015 | 4,040 |
Other liabilities | 69 | 0 |
Commitments and contingencies (Note 10) | ' | ' |
Stockholders' equity | ' | ' |
Series A Convertible Preferred stock, $0.01 par value per share; 5,000,000 authorized; none issued and outstanding | 0 | 0 |
Common stock, $0.01 par value per share 150,000,000 authorized; 92,545,862 and 84,502,653 issued and outstanding as of June 30, 2014 and December 31, 2013, respectively | 925 | 845 |
Additional paid-in capital | 210,427 | 189,465 |
Accumulated deficit | -97,186 | -76,028 |
Total stockholders' equity | 114,166 | 114,282 |
Total liabilities and stockholders' equity | $121,957 | $123,810 |
CONSOLIDATED_BALANCE_SHEETS_Pa
CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, except Share data, unless otherwise specified | ||
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment | $348 | $134 |
Common stock, par value | $0.01 | $0.01 |
Common stock, authorized | 150,000,000 | 150,000,000 |
Common stock, issued | 92,545,862 | 84,502,653 |
Common stock, outstanding | 92,545,862 | 84,502,653 |
Series A convertible preferred stock [Member] | ' | ' |
Preferred stock, par value | $0.01 | $0.01 |
Preferred stock, authorized | 5,000,000 | 5,000,000 |
Preferred stock, issued | 0 | 0 |
Preferred stock, outstanding | 0 | 0 |
CONSOLIDATED_STATEMENTS_OF_OPE
CONSOLIDATED STATEMENTS OF OPERATIONS (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Revenue | $800 | $1,100 | $1,050 | $1,100 |
Costs and Expenses* | ' | ' | ' | ' |
Operating legal costs | 5,982 | 4,790 | 10,857 | 10,189 |
Amortization of intangibles | 968 | 839 | 1,925 | 1,678 |
Research and development | 217 | 467 | 442 | 737 |
General and administrative | 3,986 | 3,759 | 8,004 | 7,750 |
Total operating expenses | 11,153 | 9,855 | 21,228 | 20,354 |
Operating loss from continuing operations | -10,353 | -8,755 | -20,178 | -19,254 |
Non-operating income, net | 21 | 17 | 22 | 32 |
Gain (loss) on revaluation of warrants | 348 | -1,491 | -728 | -1,866 |
Issuance of warrants | -65 | 0 | -65 | 0 |
Loss from continuing operations before income taxes | -10,049 | -10,229 | -20,949 | -21,088 |
Income tax expense | 0 | 0 | 0 | 0 |
Loss from continuing operations | -10,049 | -10,229 | -20,949 | -21,088 |
Loss from discontinued operations before income taxes* | 0 | -709 | -209 | -1,798 |
Income tax expense | 0 | -2 | 0 | -18 |
Loss from discontinued operations | 0 | -711 | -209 | -1,816 |
Net loss | -10,049 | -10,940 | -21,158 | -22,904 |
Basic | ' | ' | ' | ' |
Loss per share from continuing operations | ($0.12) | ($0.12) | ($0.24) | ($0.26) |
Loss per share from discontinued operations | $0 | ($0.01) | $0 | ($0.02) |
Total net loss per share | ($0.12) | ($0.13) | ($0.24) | ($0.28) |
Diluted | ' | ' | ' | ' |
Loss per share from continuing operations | ($0.12) | ($0.12) | ($0.24) | ($0.26) |
Loss per share from discontinued operations | $0 | ($0.01) | $0 | ($0.02) |
Total net loss per share | ($0.12) | ($0.13) | ($0.24) | ($0.28) |
Weighted-average number of shares outstanding during the period: | ' | ' | ' | ' |
Basic | 87,210,483 | 82,739,447 | 86,337,006 | 82,552,710 |
Diluted | 88,515,948 | 82,739,447 | 86,337,006 | 82,552,710 |
* Includes stock-based compensation expense, as follows: | ' | ' | ' | ' |
Stock Based Compensation Expense | 3,018 | 3,022 | 5,818 | 6,116 |
Operating legal costs [Member] | ' | ' | ' | ' |
* Includes stock-based compensation expense, as follows: | ' | ' | ' | ' |
Stock Based Compensation Expense | 385 | 301 | 728 | 595 |
Research and Development [Member] | ' | ' | ' | ' |
* Includes stock-based compensation expense, as follows: | ' | ' | ' | ' |
Stock Based Compensation Expense | 108 | 114 | 215 | 248 |
General and Administrative [Member] | ' | ' | ' | ' |
* Includes stock-based compensation expense, as follows: | ' | ' | ' | ' |
Stock Based Compensation Expense | 2,525 | 2,515 | 4,724 | 5,043 |
Discontinued Operations [Member] | ' | ' | ' | ' |
* Includes stock-based compensation expense, as follows: | ' | ' | ' | ' |
Stock Based Compensation Expense | $0 | $92 | $151 | $230 |
CONSOLIDATED_STATEMENTS_OF_CHA
CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (USD $) | Total | Common Stock [Member] | Additional Paid-in Capital [Member] | Accumulated Deficit during Development Stage [Member] |
In Thousands | ||||
Balance at Dec. 31, 2012 | $148,332 | $819 | $171,108 | ($23,595) |
Exercise of stock options and vesting of restricted stock units (bRSUb) | 153 | 10 | 143 | 0 |
Exercise of warrants | 250 | 1 | 249 | 0 |
Conversion of derivative warrants into equity warrants | 3,748 | 0 | 3,748 | 0 |
Stock-based compensation | 6,116 | 0 | 6,116 | 0 |
Net loss for the period | -22,904 | 0 | 0 | -22,904 |
Balance at Jun. 30, 2013 | 135,695 | 830 | 181,364 | -46,499 |
Balance at Dec. 31, 2013 | 114,282 | 845 | 189,465 | -76,028 |
Exercise of stock options and vesting of restricted stock units (bRSUb) | 2,160 | 16 | 2,144 | 0 |
Issuance of warrants (Note 8) | 65 | 0 | 65 | 0 |
Exercise of warrants | 12,999 | 64 | 12,935 | 0 |
Stock-based compensation | 5,818 | 0 | 5,818 | 0 |
Net loss for the period | -21,158 | 0 | 0 | -21,158 |
Balance at Jun. 30, 2014 | $114,166 | $925 | $210,427 | ($97,186) |
CONSOLIDATED_STATEMENTS_OF_CAS
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $) | 6 Months Ended | |
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 |
Cash flows from operating activities | ' | ' |
Net loss | ($21,158) | ($22,904) |
Adjustments to reconcile net cash flows used in operating activities: | ' | ' |
Depreciation and amortization | 2,139 | 2,567 |
Stock-based compensation | 5,818 | 6,116 |
Issuance of warrants | 65 | 0 |
Assignment of patents | 0 | -100 |
Change in fair value of warrants | 728 | 1,866 |
Exchange rate loss (gain), net | -35 | 4 |
Changes in current assets and liabilities | ' | ' |
Decrease in other current assets | 231 | 73 |
Increase (decrease) in payables and accruals | -743 | 1,412 |
Net cash used in operating activities | -12,955 | -10,966 |
Cash flows from investing activities | ' | ' |
Acquisition of property and equipment | -145 | -31 |
Increase in short-term investments | 0 | -3,120 |
Decrease (increase) in deposits | -2,304 | 8 |
Net cash used in investing activities | -2,449 | -3,143 |
Cash flows from financing activities | ' | ' |
Exercise of stock options | 2,160 | 153 |
Exercise of warrants | 11,292 | 174 |
Cash provided by financing activities | 13,452 | 327 |
Effect of exchange rate changes on cash and cash equivalents | 20 | 10 |
Decrease in cash and cash equivalents | -1,932 | -13,772 |
Cash and cash equivalents at beginning of period | 33,586 | 56,960 |
Cash and cash equivalents at end of period | 31,654 | 43,188 |
Supplemental disclosure of cash flows information | ' | ' |
Income taxes paid | 0 | 3 |
Non-cash investing and financing transactions | ' | ' |
Non-cash acquisition of cost method investment | 787 | 0 |
Conversion of derivative warrants into common stock | 1,707 | 76 |
Conversion of derivative warrants into equity warrants | $0 | $3,748 |
General
General | 6 Months Ended |
Jun. 30, 2014 | |
General [Abstract] | ' |
General | ' |
Note 1. General | |
Vringo, Inc., together with its consolidated subsidiaries (“Vringo” or the “Company”), is engaged in the development and monetization of intellectual property worldwide. The Company's intellectual property portfolio consists of over 600 patents and patent applications covering telecom infrastructure, internet search and mobile technologies. The Company’s patents and patent applications have been developed internally or acquired from third parties. Prior to December 31, 2013, the Company operated a global platform for the distribution of mobile social applications and the services that it developed. On February 18, 2014, the Company executed the sale of its mobile social application business to InfoMedia Services Limited (“InfoMedia”), receiving an 8.25% ownership interest as consideration (Note 4). | |
Accounting_and_Reporting_Polic
Accounting and Reporting Policies | 6 Months Ended |
Jun. 30, 2014 | |
Accounting Policies [Abstract] | ' |
Accounting and Reporting Policies | ' |
Note 2. Accounting and Reporting Policies | |
(a) Basis of presentation and principles of consolidation | |
The accompanying interim consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (“U.S. GAAP”) for interim financial information and the instructions to Rule 10-01 of Regulation S-X, and should be read in conjunction with the Company's Annual Report on Form 10-K for the year ended December 31, 2013. The results of operations for the three month and six month periods ended June 30, 2014 are not necessarily indicative of the results that may be expected for the entire fiscal year or for any other interim period. All significant intercompany balances and transactions have been eliminated in consolidation. | |
(b) Use of estimates | |
The preparation of accompanying consolidated financial statements in conformity with U.S. GAAP requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the consolidated financial statements and the reported amounts of revenues and expenses for the periods presented. Actual results may differ from such estimates. Significant items subject to such estimates and assumptions include the useful lives of the Company’s intangible assets, the valuation of the Company’s derivative warrants, the valuation of stock-based compensation, the valuation of goodwill, deferred tax assets and liabilities, income tax uncertainties and other contingencies. | |
(c) Translation into U.S. dollars | |
The Company conducts certain transactions in foreign currencies, which are recorded at the exchange rate as of the transaction date. All exchange gains and losses occurring from the remeasurement of monetary balance sheet items denominated in non-dollar currencies are reflected as non-operating income or expense in the consolidated statements of operations. | |
(d) Cash and cash equivalents | |
The Company invests its cash in money market funds with financial institutions. The Company has established guidelines relating to diversification and maturities of its investments in order to minimize credit risk and maintain high liquidity of funds. All highly liquid investments with original maturities of three months or less at acquisition date are considered cash equivalents. | |
(e) Derivative instruments | |
The Company recognizes all derivative instruments as either assets or liabilities in the consolidated balance sheets at their respective fair values. The Company's derivative instruments, which are discussed in Notes 6 and 8, have been recorded as liabilities at fair value, and are revalued at each reporting date, with changes in the fair value of the instruments included in the consolidated statements of operations as non-operating income (expense). | |
(f) Revenue recognition | |
Revenue from patent licensing and enforcement is recognized if collectability is reasonably assured, persuasive evidence of an arrangement exists, the sales price is fixed or determinable and delivery of the service has been rendered. The Company uses management's best estimate of selling price for individual elements in multiple-element arrangements, where vendor specific evidence or third party evidence of selling price is not available. | |
Currently, the Company’s revenue arrangements provide for the payment of contractually determined fees and other consideration for the grant of certain intellectual property rights related to the Company’s patents. These rights typically include some combination of the following: (i) the grant of a non-exclusive, retroactive and future license to manufacture and/or sell products covered by patents, (ii) the release of the licensee from certain claims, and (iii) the dismissal of any pending litigation. The intellectual property rights granted typically extend until the expiration of the related patents. Pursuant to the terms of these agreements, the Company has no further obligation with respect to the grant of the non-exclusive retroactive and future licenses, covenants-not-to-sue, releases, and other deliverables, including no express or implied obligation on the Company’s part to maintain or upgrade the related technology, or provide future support or services. Generally, the agreements provide for the grant of the licenses, covenants-not-to-sue, releases, and other significant deliverables upon execution of the agreement, or upon receipt of the upfront payment. As such, the earnings process is complete and revenue is recognized upon the execution of the agreement, upon receipt of the upfront fee, and when all other revenue recognition criteria have been met. | |
(g) Operating legal costs | |
Operating legal costs mainly include expenses incurred in connection with the Company’s patent licensing and enforcement activities, patent-related legal expenses paid to external patent counsel (including contingent legal fees), licensing and enforcement related research, consulting and other expenses paid to third parties, as well as internal payroll expenses and stock-based compensation. | |
(h) Recently Issued Accounting Pronouncements | |
In July 2013, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2013-11, Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists, which provides guidance on the presentation of unrecognized tax benefits. This guidance requires an entity to present an unrecognized tax benefit, or a portion of an unrecognized tax benefit, as a reduction to a deferred tax asset for a net operating loss carryforward, a similar tax loss, or a tax credit carryforward, except as follows: to the extent a net operating loss carryforward, a similar tax loss, or a tax credit carryforward is not available at the reporting date under the tax law of the applicable jurisdiction to settle any additional income taxes that would result from the disallowance of a tax position or the tax law of the applicable jurisdiction does not require the entity to use, and the entity does not intend to use, the deferred tax asset for such purpose, the unrecognized tax benefit should be presented in the financial statements as a liability and should not be combined with deferred tax assets. This guidance is effective beginning January 1, 2014 and is to be applied prospectively with retroactive application permitted. The Company adopted this guidance as of January 1, 2014, as required. There was no material impact of the consolidated financial statements resulting from the adoption. | |
In April 2014, the FASB issued ASU No. 2014-08, Presentation of Financial Statements (Topic 205) and Property, Plant, and Equipment (Topic 360): Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity. This guidance changes the criteria for reporting a discontinued operation while enhancing disclosures in this area. This standard will be effective for the Company beginning January 1, 2015. Early adoption of the standard is permitted, but only for disposals (or classifications as held for sale) that have not been reported in financial statements previously issued or available for issuance. The Company is currently evaluating the impact of the adoption on its consolidated financial statements. | |
In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606), which impacts virtually all aspects of an entity's revenue recognition. The core principle of the new standard is that revenue should be recognized to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The guidance is effective for annual reporting periods beginning after December 15, 2016. The Company is currently evaluating the impact of the adoption on its consolidated financial statements. | |
In June 2014, the FASB issued ASU No. 2014-10, Development Stage Entities (Topic 915): Elimination of Certain Financial Reporting Requirements, Including an Amendment to Variable Interest Entities Guidance in Topic 810, Consolidation, which removes the definition of development stage entity, as was previously defined under U.S. GAAP, thereby removing the financial reporting distinction between development stage entities and other reporting entities. In addition, the ASU eliminates the requirements for development stage entities to (i) present inception-to-date information in their financial statements, (ii) label the financial statements as those of a development stage entity, (iii) disclose a description of the development stage activities in which the entity is engaged, and (iv) disclose in the first year in which the entity is no longer a development stage entity that in prior years it had been in the development stage. This guidance is effective for annual reporting periods beginning after December 31, 2014 and early adoption of the standard is permitted. The Company adopted this guidance during the second quarter of 2014. | |
(i) Reclassification | |
Certain balances have been reclassified to conform to presentation requirements including discontinued operations. | |
Computation_of_Net_Loss_per_Co
Computation of Net Loss per Common Share | 6 Months Ended | |||||||||||||
Jun. 30, 2014 | ||||||||||||||
Earnings Per Share, Basic and Diluted [Abstract] | ' | |||||||||||||
Computation of Net Loss per Common Share | ' | |||||||||||||
Note 3. Computation of Net Loss per Common Share | ||||||||||||||
Basic net loss per share is computed by dividing the net loss for the period by the weighted-average number of shares of common stock outstanding during the period. Diluted net loss per share is computed by dividing the net loss for the period by the weighted-average number of shares of common stock plus dilutive potential common stock considered outstanding during the period. However, as the Company generated net losses in all periods presented, some potentially dilutive securities that relate to the continuing operations, including certain warrants and stock options, were not reflected in diluted net loss per share, because the impact of such instruments was anti-dilutive. The table below presents the computation of basic and diluted net losses per common share: | ||||||||||||||
Three months ended | Six months ended | |||||||||||||
June 30, | June 30, | |||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||
Basic Numerator: | ||||||||||||||
Loss from continuing operations attributable to shares of common stock | $ | -10,049 | $ | -10,229 | $ | -20,949 | $ | -21,088 | ||||||
Loss from discontinued operations attributable to shares of common stock | — | -711 | $ | -209 | $ | -1,816 | ||||||||
Net loss attributable to shares of common stock | $ | -10,049 | $ | -10,940 | $ | -21,158 | $ | -22,904 | ||||||
Basic Denominator: | ||||||||||||||
Weighted average number of shares of common stock outstanding during the period | 87,210,483 | 82,625,295 | 86,337,006 | 82,406,883 | ||||||||||
Weighted average number of penny stock options | — | 114,152 | — | 145,827 | ||||||||||
Basic common stock shares outstanding | 87,210,483 | 82,739,447 | 86,337,006 | 82,552,710 | ||||||||||
Basic loss per common stock share from continuing operations | $ | -0.12 | $ | -0.12 | $ | -0.24 | $ | -0.26 | ||||||
Basic loss per common stock share from discontinued operations | $ | 0 | -0.01 | $ | 0 | $ | -0.02 | |||||||
Basic net loss per common stock share | $ | -0.12 | $ | -0.13 | $ | -0.24 | $ | -0.28 | ||||||
Diluted Numerator: | ||||||||||||||
Net loss from continuing operations attributable to shares of common stock | $ | -10,049 | $ | -10,229 | $ | -20,949 | $ | -21,088 | ||||||
Increase in net loss attributable to derivative warrants | $ | -348 | $ | — | $ | — | $ | — | ||||||
Diluted net loss from continuing operations attributable to shares of common stock | $ | -10,397 | $ | -10,229 | $ | -20,949 | $ | -21,088 | ||||||
Diluted net loss from discontinued operations attributable to shares of common stock | $ | — | $ | -711 | $ | -209 | $ | -1,816 | ||||||
Diluted net loss attributable to shares of common stock | $ | -10,397 | $ | -10,940 | $ | -21,158 | $ | -22,904 | ||||||
Diluted Denominator: | ||||||||||||||
Basic common stock shares outstanding | 87,210,483 | 82,739,447 | 86,337,006 | 82,552,710 | ||||||||||
Weighted average number of derivative warrants outstanding during the period | 1,305,465 | — | — | — | ||||||||||
Diluted common stock shares outstanding | 88,515,948 | 82,739,447 | 86,337,006 | 82,552,710 | ||||||||||
Diluted loss per common stock share from continuing operations | $ | -0.12 | $ | -0.12 | $ | -0.24 | $ | -0.26 | ||||||
Diluted loss per common stock share from discontinued operations | $ | 0 | $ | -0.01 | $ | 0 | $ | -0.02 | ||||||
Diluted net loss per common stock share | $ | -0.12 | $ | -0.13 | $ | -0.24 | $ | -0.28 | ||||||
Net loss per share data presented excludes from the calculation of diluted net loss the following potentially dilutive securities, as they had an anti-dilutive impact: | ||||||||||||||
Both vested and unvested options at $0.96-$5.50 exercise price, to purchase an equal number of shares of common stock of the Company | 10,102,094 | 11,805,940 | 10,102,094 | 11,805,940 | ||||||||||
Unvested penny options to purchase an equal number of shares of common stock of the Company | — | 2,375 | — | 2,375 | ||||||||||
Unvested RSUs to issue an equal number of shares of common stock of the Company | 1,657,890 | 2,815,794 | 1,657,890 | 2,815,794 | ||||||||||
Common stock shares granted, but not yet vested | — | 61,478 | — | 61,478 | ||||||||||
Warrants to purchase an equal number of shares of common stock of the Company | 15,801,923 | 18,764,114 | 17,423,851 | 18,764,114 | ||||||||||
Total number of potentially dilutive instruments, excluded from the calculation of net loss per share | 27,561,907 | 33,449,701 | 29,183,835 | 33,449,701 | ||||||||||
Discontinued_Operations_and_As
Discontinued Operations and Assets Held For Sale | 6 Months Ended | |||||||
Jun. 30, 2014 | ||||||||
Discontinued Operations and Disposal Groups [Abstract] | ' | |||||||
Discontinued Operations and Assets Held For Sale | ' | |||||||
Note 4. Discontinued Operations and Assets Held For Sale | ||||||||
On December 31, 2013, the Company entered into a definitive asset purchase agreement with InfoMedia for the sale of all assets and the assignment of all agreements related to the Company’s mobile social application business. The closing of the transaction occurred on February 18, 2014 (“Closing”). | ||||||||
Upon Closing, as consideration for the assets and agreements related to the Company’s mobile social application business, the Company received 18 Class B shares of InfoMedia, which represent an 8.25% ownership interest in InfoMedia. Additionally, the Company’s Chief Executive Officer was appointed as a full voting member on InfoMedia’s board of directors and the Company received a number of customary protective rights. The InfoMedia Class B shares were accounted for as a cost-method investment at the carrying amount of $787 and are included in Other assets in the consolidated balance sheet as of June 30, 2014. During the six month period ended June 30, 2014, there were no events or changes in circumstances that would indicate that the carrying amount of this investment may no longer be recoverable. | ||||||||
In connection with the asset purchase agreement, the requirement to report the results of the Company’s mobile social application business as discontinued operations was triggered. The following tables represent the components of operating results from discontinued operations, as presented in the consolidated statements of operations: | ||||||||
Three months ended June 30, | ||||||||
2014 | 2013 | |||||||
Revenue | $ | — | $ | 61 | ||||
Operating expenses | — | -748 | ||||||
Operating loss | — | -687 | ||||||
Non-operating expense | — | -22 | ||||||
Loss before taxes on income | — | -709 | ||||||
Income tax expense | — | -2 | ||||||
Loss from discontinued operations | $ | — | $ | -711 | ||||
Six months ended June 30, | ||||||||
2014 | 2013 | |||||||
Revenue | $ | 37 | $ | 126 | ||||
Operating expenses | -266 | -1,893 | ||||||
Operating loss | -229 | -1,767 | ||||||
Non-operating income (expense) | 20 | -31 | ||||||
Loss before taxes on income | -209 | -1,798 | ||||||
Income tax expense | — | -18 | ||||||
Loss from discontinued operations | $ | -209 | $ | -1,816 | ||||
In addition, the following table presents the carrying amounts of the major classes of assets from the discontinued mobile social application business in the Company’s consolidated balance sheet as of December 31, 2013. These assets were transferred to InfoMedia upon Closing. As of December 31, 2013, there were no liabilities classified as held for sale and no liabilities were transferred to InfoMedia upon Closing. | ||||||||
As of December 31, | ||||||||
2013 | ||||||||
Cash | $ | 48 | ||||||
Accounts receivable | 102 | |||||||
Goodwill at carrying amount of $208, net of $208 loss on impairment | — | |||||||
Acquired technology at carrying amount of $10,133, net of $2,451 accumulated amortization and $7,045 loss on impairment | 637 | |||||||
Total assets held for sale | $ | 787 | ||||||
Intangible_Assets
Intangible Assets | 6 Months Ended | |||||||||
Jun. 30, 2014 | ||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | |||||||||
Intangible Assets | ' | |||||||||
Note 5. Intangible Assets | ||||||||||
As of June 30, | As of December 31, | Weighted average | ||||||||
2014 | 2013 | amortization period (years) | ||||||||
Patents | 28,213 | 28,213 | 8.3 | |||||||
Less: accumulated amortization | -7,390 | -5,465 | ||||||||
$ | 20,823 | $ | 22,748 | |||||||
The Company’s intangible assets consist of its patents which are amortized over their expected useful lives (i.e., through the expiration date of the patent). During the three and six month periods ended June 30, 2014, the Company recorded amortization expense of $968 and $1,925, respectively, related to its patents. During the three and six month periods ended June 30, 2013, the Company recorded amortization expense of $839 and $1,678, respectively, related to its patents. | ||||||||||
Fair_Value_Measurements
Fair Value Measurements | 6 Months Ended | ||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||
Fair Value Measurements [Abstract] | ' | ||||||||||||||||
Fair Value Measurements | ' | ||||||||||||||||
Note 6. Fair Value Measurements | |||||||||||||||||
The Company measures fair value in accordance with FASB Accounting Standards Codification (“ASC”) 820-10, Fair Value Measurements and Disclosures. FASB ASC 820-10 clarifies that fair value is an exit price, representing the amount that would be received by selling an asset or paid to transfer a liability in an orderly transaction between market participants. As such, fair value is a market-based measurement that should be determined based on assumptions that market participants would use in pricing an asset or a liability. As a basis for considering such assumptions, FASB ASC 820-10 establishes a three-tier value hierarchy, which prioritizes the inputs used in the valuation methodologies in measuring fair value: | |||||||||||||||||
Level 1: Unadjusted quoted prices in active markets for identical assets or liabilities accessible to the reporting entity at the measurement date. | |||||||||||||||||
Level 2: Other than quoted prices included in Level 1 inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the asset or liability. | |||||||||||||||||
Level 3: Unobservable inputs for the asset or liability used to measure fair value to the extent that observable inputs are not available, thereby allowing for situations in which there is little, if any, market activity for the asset or liability at measurement date. | |||||||||||||||||
The fair value hierarchy also requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. | |||||||||||||||||
The following table presents the placement in the fair value hierarchy of liabilities measured at fair value on a recurring basis as of June 30, 2014 and December 31, 2013: | |||||||||||||||||
Fair value measurement at reporting date using | |||||||||||||||||
Quoted prices in | |||||||||||||||||
active markets | Significant other | Significant | |||||||||||||||
for identical | observable | unobservable | |||||||||||||||
Derivative warrant liabilities | Balance | assets (Level 1) | inputs (Level 2) | inputs (Level 3) | |||||||||||||
As of June 30, 2014 | $ | 3,104 | — | — | $ | 3,104 | |||||||||||
As of December 31, 2013 | $ | 4,083 | — | — | $ | 4,083 | |||||||||||
The Company measures its derivative liabilities at fair value. The Special Bridge Warrants, Conversion Warrants, the derivative Reload Warrants and the derivative Series 1 Warrants (as defined in Note 8) are classified within Level 3 because they are valued using the Black-Scholes-Merton and the Monte-Carlo models (as these warrants include down-round protection clauses), which utilize significant inputs that are unobservable in the market. | |||||||||||||||||
The following table presents the placement in the fair value hierarchy of assets that are measured at fair value on a non-recurring basis as of December 31, 2013 (there were no such assets or liabilities as of June 30, 2014): | |||||||||||||||||
Fair value measurement at reporting date using | |||||||||||||||||
Quoted prices in | |||||||||||||||||
active markets | Significant other | Significant | |||||||||||||||
for identical | observable | unobservable | |||||||||||||||
Balance | assets (Level 1) | inputs (Level 2) | inputs (Level 3) | ||||||||||||||
Assets held for sale | $ | 787 | $ | 150 | — | $ | 637 | ||||||||||
In addition to the above, the Company’s financial instruments as of June 30, 2014 and December 31, 2013 consisted of cash, cash equivalents, receivables, accounts payable and deposits. The carrying amounts of all the aforementioned financial instruments approximate fair value. The following table summarizes the changes in the Company’s liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) during the six month period ended June 30, 2014: | |||||||||||||||||
Level 3 | |||||||||||||||||
Balance at December 31, 2013 | $ | 4,083 | |||||||||||||||
Fair value adjustment, prior to exercise of warrants, included in Consolidated Statement of Operations | 56 | ||||||||||||||||
Exercise of derivative warrants | (1,707 | ) | |||||||||||||||
Fair value adjustment at end of period, included in Consolidated Statement of Operations | 672 | ||||||||||||||||
Balance at June 30, 2014 | $ | 3,104 | |||||||||||||||
Valuation processes for Level 3 Fair Value Measurements | |||||||||||||||||
Fair value measurement of the derivative warrant liabilities related to the Special Bridge Warrants, Conversion Warrants, Reload Warrants and Series 1 Warrants (as defined in Note 8) fall within Level 3 of the fair value hierarchy. The fair value measurements are evaluated by management to ensure that changes are consistent with expectations of management based upon the sensitivity and nature of the inputs. | |||||||||||||||||
Description | Valuation technique | Unobservable inputs | Range | ||||||||||||||
Special Bridge Warrants, Conversion Warrants, derivative | Black-Scholes-Merton and the | Volatility | 32.83% – 46.41% | ||||||||||||||
Reload Warrants and derivative Series 1 Warrants | Monte-Carlo models | Risk free interest rate | 0.08% – 0.88% | ||||||||||||||
Expected term, in years | 0.50 – 3.05 | ||||||||||||||||
Dividend yield | 0% | ||||||||||||||||
Probability and timing of down-round triggering event | 5% occurrence in December 2014 | ||||||||||||||||
The fair value of the assets held for sale as of December 31, 2013 (Note 4) was determined by estimating the present value of the expected future cash flows associated with that asset or asset group by using certain unobservable market inputs. These inputs included discount rates, estimated future cash flows and certain continuing growth rate assumptions. The discount rates are intended to reflect the risk inherent in the projected future cash flows generated by the respective asset or asset group. The inputs used in the valuation were sensitive to certain factors related to mobile social application technology such as rapid changes in the industry and technological advances. | |||||||||||||||||
Sensitivity of Level 3 measurements to changes in significant unobservable inputs | |||||||||||||||||
The inputs to estimate the fair value of the Company’s derivative warrant liabilities are the current market price of the Company’s common stock, the exercise price of the warrant, its remaining expected term, the volatility of the Company’s common stock price, the Company’s assumptions regarding the probability and timing of a down-round protection triggering event and the risk-free interest rate. Significant changes in any of those inputs in isolation can result in a significant change in the fair value measurement. Generally, an increase in the market price of the Company’s common stock, an increase in the volatility of the Company’s shares of common stock, an increase in the remaining term of the warrant, or an increase of a probability of a down-round triggering event would each result in a directionally similar change in the estimated fair value of the Company’s warrants. Such changes would increase the associated liability while decreases in these assumptions would decrease the associated liability. An increase in the risk-free interest rate or a decrease in the positive differential between the warrant’s exercise price and the market price of the Company’s shares of common stock would result in a decrease in the estimated fair value measurement of the warrants and thus a decrease in the associated liability. The Company has not, and does not plan to, declare dividends on its common stock, and as such, there is no change in the estimated fair value of the warrants due to the dividend assumption. | |||||||||||||||||
Stockbased_Compensation
Stock-based Compensation | 6 Months Ended | |||||||||||||||||
Jun. 30, 2014 | ||||||||||||||||||
Share-based Compensation [Abstract] | ' | |||||||||||||||||
Stock-based Compensation | ' | |||||||||||||||||
Note 7. Stock-based Compensation | ||||||||||||||||||
The Company has a stock-based compensation plan available to grant stock options and RSU to the Company’s directors, employees and consultants. Under the 2012 Employee, Director and Consultant Equity Incentive Plan (the “Plan”), a maximum of 15,600,000 shares of common stock may be awarded. As of June 30, 2014, 3,741,170 shares were available for future grants under the Plan. | ||||||||||||||||||
The following table illustrates the stock options granted for the six month period ended June 30, 2014: | ||||||||||||||||||
Title | Grant date | No. of | Exercise | FMV at | Vesting terms | Assumptions used in | ||||||||||||
options | price | grant date | Black-Scholes option pricing | |||||||||||||||
model | ||||||||||||||||||
Directors, Management, | January - June 2014 | 1,200,000 | $ 3.12 - $ 4.10 | $ 1.76 - $ 2.32 | Over 1 year for | Volatility: 57.75 % – 62.00% | ||||||||||||
and Employees | Directors; Over 3 years | Risk free interest rate: 1.82% - 2.06% | ||||||||||||||||
for Management and | Expected term, in years: 5.31-5.81 | |||||||||||||||||
Employees | Dividend yield: 0.00% | |||||||||||||||||
Certain options granted to officers, directors and certain key employees are subject to acceleration of vesting of 75% - 100% (according to the agreement signed with each grantee), upon a subsequent change of control. | ||||||||||||||||||
The activity related to stock options and RSU for the six month period ended June 30, 2014 consisted of the following: | ||||||||||||||||||
RSUs | Options | |||||||||||||||||
No. of | Weighted average | No. of | Weighted average | Exercise price | Weighted average | |||||||||||||
RSUs | grant date fair | options | exercise price | range | grant date fair | |||||||||||||
value | value | |||||||||||||||||
Outstanding at January 1, 2014 | 2,161,403 | $ | 3.61 | 10,457,159 | $ | 3.23 | $0.01 – $5.50 | $ | 2.5 | |||||||||
Granted | — | — | 1,200,000 | $ | 3.98 | $3.12 - $4.10 | $ | 2.16 | ||||||||||
Vested/Exercised | -500,388 | $ | 3.59 | -1,126,815 | $ | 1.92 | $0.01 – $3.72 | $ | 1.31 | |||||||||
Forfeited | -3,125 | $ | 3.72 | -95,833 | $ | 3.71 | $3.24 - $3.72 | $ | 2.19 | |||||||||
Expired | — | — | -332,416 | $ | 4.6 | $0.96 – $5.50 | $ | 1.97 | ||||||||||
Outstanding at June 30, 2014 | 1,657,890 | $ | 3.62 | 10,102,095 | $ | 3.41 | $0.96 – $5.50 | $ | 2.3 | |||||||||
Exercisable at June 30, 2014 | — | — | 6,099,385 | $ | 2.28 | $0.96 – $5.50 | ||||||||||||
The Company did not recognize tax benefits related to its stock-based compensation as there is a full valuation allowance recorded. | ||||||||||||||||||
Warrants
Warrants | 6 Months Ended | ||||||||||||
Jun. 30, 2014 | |||||||||||||
Warrants and Rights Note Disclosure [Abstract] | ' | ||||||||||||
Warrants | ' | ||||||||||||
Note 8. Warrants | |||||||||||||
The following table summarizes information about warrant activity for the six month period ended June 30, 2014: | |||||||||||||
No. of warrants | Weighted average | Exercise | |||||||||||
exercise price | price range | ||||||||||||
Outstanding at January 1, 2014 | 18,427,478 | $ | 3.15 | $0.94 – $5.06 | |||||||||
Granted | 5,412,366 | $ | 5.06 | $ | 5.06 | ||||||||
Exercised | -6,415,992 | $ | 1.76 | $ | 1.76 | ||||||||
Outstanding at June 30, 2014 | 17,423,852 | $ | 4.26 | $0.94 – $5.06 | |||||||||
On June 19, 2014, the Company entered into agreements with certain of its warrant holders, pursuant to which the warrant holders exercised for cash 5,697,227 of their outstanding Series 1 and Series 2 warrants, with an exercise price of $1.76 per share. The Company granted such warrant holders unregistered warrants of the Company to purchase an aggregate of 5,412,366 shares of the Company’s common stock, par value $0.01 per share, at an exercise price of $5.06 per share (the “June 2014 Warrants”). The June 2014 Warrants expire on June 21, 2015 and because such warrants do not bear any down-round protection clauses, they are classified as equity instruments. As a result of these transactions, the Company received $10,027 of proceeds. | |||||||||||||
The Company’s outstanding warrants consist of the following: | |||||||||||||
No. | No. | Remaining | |||||||||||
outstanding | outstanding | ||||||||||||
classified as | classified as | ||||||||||||
No. outstanding | equity | liabilities* | Exercise price | contractual life | |||||||||
Series 1 Warrants | 1,490,250 | 64,621 | 1,425,629 | $ | 1.76 | 3.05 years | |||||||
Series 2 Warrants | 1,943,523 | 1,943,523 | — | $ | 1.76 | 3.05 years | |||||||
Conversion Warrants | 14,492 | — | 14,492 | $ | 0.94 | 0.98 years | |||||||
Special Bridge Warrants | 21,198 | — | 21,198 | $ | 0.94 | 0.50 years | |||||||
Reload Warrants | 758,023 | 597,414 | 160,609 | $ | 1.76 | 2.61 years | |||||||
Initial Public Offering Warrants | 4,784,000 | 4,784,000 | — | $ | 5.06 | 0.98 years | |||||||
October 2012 Warrants | 3,000,000 | 3,000,000 | — | $ | 5.06 | 0.98 years | |||||||
June 2014 Warrants** | 5,412,366 | 5,412,366 | — | $ | 5.06 | 0.98 years | |||||||
Outstanding at June 30, 2014 | 17,423,852 | 15,801,924 | 1,621,928 | ||||||||||
* These warrants bear down-round protection clauses and as a result, they are classified as derivative liabilities and recorded at fair value. | |||||||||||||
** The June 2014 Warrants were valued on the grant date (June 20, 2014) using the following assumptions: volatility: 40.05%, stock price: $3.33, risk free interest rate: 0.15% and dividend yield: 0%. The new warrants issued in connection with the exercise of warrants classified as liabilities were accounted for as an inducement and therefore an amount of $65, which is based on the fair value of the new warrants, was recorded as a non-operating expense during the second quarter of 2014. The new warrants issued in connection with the exercise of warrants classified as equity, which were fair valued at $611, were recorded as equity. | |||||||||||||
Revenue_from_Settlement_and_Li
Revenue from Settlement and Licensing Agreement | 6 Months Ended |
Jun. 30, 2014 | |
Revenue from Settlement and Licensing Agreement [Abstract] | ' |
Revenue from Settlement and Licensing Agreement | ' |
Note 9. Revenue from Settlements and Licensing Agreements | |
On April 28, 2014, the Company entered into a confidential agreement with Tyco that resolved all litigation pending between the parties. | |
Commitments_and_Contingencies
Commitments and Contingencies | 6 Months Ended |
Jun. 30, 2014 | |
Commitments and Contingencies [Abstract] | ' |
Commitments and Contingencies | ' |
Note 10. Commitments and Contingencies | |
Litigation and legal proceedings | |
The Company retains the services of professional service providers, including law firms that specialize in intellectual property licensing, enforcement and patent law. These service providers are often retained on an hourly, monthly, project, contingent or a blended fee basis. In contingency fee arrangements, a portion of the legal fee is based on predetermined milestones or the Company’s actual collection of funds. The Company accrues contingent fees when it is probable that the milestones will be achieved and the fees can be reasonably estimated. | |
The Company’s subsidiaries have filed patent infringement lawsuits against the subsidiaries of ZTE Corporation in the United Kingdom, France, Germany, Australia, India, Brazil, Malaysia, and Romania, and against ASUSTeK Computer, Inc. and ASUS Computer GmbH in Germany, Spain and India. In such jurisdictions, an unsuccessful plaintiff may be required to pay a portion of the other party’s legal fees. Pursuant to negotiation with ZTE’s United Kingdom subsidiary, the Company made two written commitments, in November 2012 and May 2013, representing payment should a liability by Vringo Infrastructure arise as a result of the two cases it has filed. The defendants estimated the total possible liability to be no more than approximately $2,900 for each case. In addition, ZTE's German subsidiary started three revocation (invalidity) proceedings against the Company; two in the first half of 2013 and one in the first quarter of 2014. Should ZTE be successful in any of those actions, the Company would be liable for some portion of ZTE’s fees. The total amount the Company would have to pay is a statutorily determined percentage based on the estimated value in dispute for these proceedings. ZTE has estimated the value of the revocation proceeding at approximately $1,700 for each of the three revocation cases on file; the Company assesses the likelihood of such payment as remote. The value of each of the four infringement proceedings against ZTE on file and of each of the two infringement proceedings against ASUS on file has been estimated at approximately $1,400 by the Company. On May 5, 2014, the Company deposited a bond of approximately $1,400 to enforce an injunction against ZTE in Germany. Should the injunction be successfully overturned on appeal, the Company may be obligated to compensate ZTE for any damages allegedly suffered as a result of the enforcement of the injunction, which would be ascertained through separate damages proceedings. Should the judgment which granted the injunction be affirmed on appeal, however, the amount paid as security would be returnable to the Company in full. | |
Pursuant to negotiations with ZTE’s Australian subsidiary, the Company placed a written commitment in April 2014 to ensure payment should a liability by Vringo Infrastructure arise as a result of the case filed. The amount of such commitment cannot be reasonably estimated at this time and the Company assesses the likelihood of such payment as remote. In addition, in Brazil, as a condition of the relief requested, the Company deposited approximately $904 as a surety against the truth of allegations contained in the complaint. Unless ZTE is the prevailing party and proves that actual material damages were suffered while the requested relief was in place, the funds are returnable at the end of the litigation. The $1,400 bond deposit in Germany and the $904 surety deposit in Brazil are included in Deposits with courts in the consolidated balance sheet as of June 30, 2014. | |
In addition, the Company may be required to grant additional written commitments, as necessary, in connection with its commenced proceedings against ZTE Corporation and its subsidiaries in various countries. It should be noted, however, that if the Company were successful on any court applications or the entirety of any litigation, ZTE Corporation may be responsible for a substantial portion of the Company’s legal fees. | |
Leases | |
In July 2012, the Company signed a rental agreement for its corporate executive office in New York for an annual rental fee of approximately $137 (subject to certain adjustments) which was to expire in September 2015. However, in January 2014, the Company entered into an amended lease agreement with the landlord for a different office space within the same building. The initial annual rental fee for this new office is approximately $403 (subject to certain future escalations and adjustments) beginning when the new office space is available, which is expected to be in the third quarter of 2014. This lease will expire five years and three months after the new office space is available. Rent expense for operating leases for the three and six month periods ended June 30, 2014 were $70 and $182, respectively. Rent expense for operating leases for the three and six month periods ended June 30, 2013 were $63 and $107, respectively. | |
Risks_and_Uncertainties
Risks and Uncertainties | 6 Months Ended | ||
Jun. 30, 2014 | |||
Risks and Uncertainties [Abstract] | ' | ||
Risks and Uncertainties | ' | ||
Note 11. Risks and Uncertainties | |||
(a) | New legislation, regulations or rulings that impact the patent enforcement process or the rights of patent holders, could negatively affect the Company’s current business model. For example, limitations on the ability to bring patent enforcement claims, limitations on potential liability for patent infringement, lower evidentiary standards for invalidating patents, increases in the cost to resolve patent disputes and other similar developments could negatively affect the Company’s ability to assert its patent or other intellectual property rights. | ||
(b) | The patents owned by the Company are presumed to be valid and enforceable. As part of the Company’s ongoing legal proceedings, the validity and/or enforceability of its patents is often challenged in a court or an administrative proceeding. To date, none of the Company’s patents have been declared to be invalid or unenforceable. | ||
(c) | Financial instruments which potentially subject the Company to significant concentrations of credit risk consist principally of cash and cash equivalents. The Company maintains its cash and cash equivalents with various major financial institutions. These major financial institutions are located in the United States and the Company’s policy is designed to limit exposure to any one institution. | ||
(d) | A portion of the Company’s expenses are denominated in foreign currencies. If the value of the U.S. dollar weakens against the value of these currencies, there will be a negative impact on the Company’s operating costs. In addition, the Company is subject to the risk of exchange rate fluctuations to the extent it holds monetary assets and liabilities in these currencies. | ||
Accounting_and_Reporting_Polic1
Accounting and Reporting Policies (Policies) | 6 Months Ended |
Jun. 30, 2014 | |
Accounting Policies [Abstract] | ' |
Basis of presentation and principles of consolidation | ' |
(a) Basis of presentation and principles of consolidation | |
The accompanying interim consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (“U.S. GAAP”) for interim financial information and the instructions to Rule 10-01 of Regulation S-X, and should be read in conjunction with the Company's Annual Report on Form 10-K for the year ended December 31, 2013. The results of operations for the three month and six month periods ended June 30, 2014 are not necessarily indicative of the results that may be expected for the entire fiscal year or for any other interim period. All significant intercompany balances and transactions have been eliminated in consolidation. | |
Use of estimates | ' |
(b) Use of estimates | |
The preparation of accompanying consolidated financial statements in conformity with U.S. GAAP requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the consolidated financial statements and the reported amounts of revenues and expenses for the periods presented. Actual results may differ from such estimates. Significant items subject to such estimates and assumptions include the useful lives of the Company’s intangible assets, the valuation of the Company’s derivative warrants, the valuation of stock-based compensation, the valuation of goodwill, deferred tax assets and liabilities, income tax uncertainties and other contingencies. | |
Translation into U.S. dollars | ' |
(c) Translation into U.S. dollars | |
The Company conducts certain transactions in foreign currencies, which are recorded at the exchange rate as of the transaction date. All exchange gains and losses occurring from the remeasurement of monetary balance sheet items denominated in non-dollar currencies are reflected as non-operating income or expense in the consolidated statements of operations. | |
Cash and cash equivalents | ' |
(d) Cash and cash equivalents | |
The Company invests its cash in money market funds with financial institutions. The Company has established guidelines relating to diversification and maturities of its investments in order to minimize credit risk and maintain high liquidity of funds. All highly liquid investments with original maturities of three months or less at acquisition date are considered cash equivalents. | |
Derivative instruments | ' |
(e) Derivative instruments | |
The Company recognizes all derivative instruments as either assets or liabilities in the consolidated balance sheets at their respective fair values. The Company's derivative instruments, which are discussed in Notes 6 and 8, have been recorded as liabilities at fair value, and are revalued at each reporting date, with changes in the fair value of the instruments included in the consolidated statements of operations as non-operating income (expense). | |
Revenue recognition | ' |
(f) Revenue recognition | |
Revenue from patent licensing and enforcement is recognized if collectability is reasonably assured, persuasive evidence of an arrangement exists, the sales price is fixed or determinable and delivery of the service has been rendered. The Company uses management's best estimate of selling price for individual elements in multiple-element arrangements, where vendor specific evidence or third party evidence of selling price is not available. | |
Currently, the Company’s revenue arrangements provide for the payment of contractually determined fees and other consideration for the grant of certain intellectual property rights related to the Company’s patents. These rights typically include some combination of the following: (i) the grant of a non-exclusive, retroactive and future license to manufacture and/or sell products covered by patents, (ii) the release of the licensee from certain claims, and (iii) the dismissal of any pending litigation. The intellectual property rights granted typically extend until the expiration of the related patents. Pursuant to the terms of these agreements, the Company has no further obligation with respect to the grant of the non-exclusive retroactive and future licenses, covenants-not-to-sue, releases, and other deliverables, including no express or implied obligation on the Company’s part to maintain or upgrade the related technology, or provide future support or services. Generally, the agreements provide for the grant of the licenses, covenants-not-to-sue, releases, and other significant deliverables upon execution of the agreement, or upon receipt of the upfront payment. As such, the earnings process is complete and revenue is recognized upon the execution of the agreement, upon receipt of the upfront fee, and when all other revenue recognition criteria have been met. | |
Operating legal costs | ' |
(g) Operating legal costs | |
Operating legal costs mainly include expenses incurred in connection with the Company’s patent licensing and enforcement activities, patent-related legal expenses paid to external patent counsel (including contingent legal fees), licensing and enforcement related research, consulting and other expenses paid to third parties, as well as internal payroll expenses and stock-based compensation. | |
Recently Issued Accounting Pronouncements | ' |
(h) Recently Issued Accounting Pronouncements | |
In July 2013, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2013-11, Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists, which provides guidance on the presentation of unrecognized tax benefits. This guidance requires an entity to present an unrecognized tax benefit, or a portion of an unrecognized tax benefit, as a reduction to a deferred tax asset for a net operating loss carryforward, a similar tax loss, or a tax credit carryforward, except as follows: to the extent a net operating loss carryforward, a similar tax loss, or a tax credit carryforward is not available at the reporting date under the tax law of the applicable jurisdiction to settle any additional income taxes that would result from the disallowance of a tax position or the tax law of the applicable jurisdiction does not require the entity to use, and the entity does not intend to use, the deferred tax asset for such purpose, the unrecognized tax benefit should be presented in the financial statements as a liability and should not be combined with deferred tax assets. This guidance is effective beginning January 1, 2014 and is to be applied prospectively with retroactive application permitted. The Company adopted this guidance as of January 1, 2014, as required. There was no material impact of the consolidated financial statements resulting from the adoption. | |
In April 2014, the FASB issued ASU No. 2014-08, Presentation of Financial Statements (Topic 205) and Property, Plant, and Equipment (Topic 360): Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity. This guidance changes the criteria for reporting a discontinued operation while enhancing disclosures in this area. This standard will be effective for the Company beginning January 1, 2015. Early adoption of the standard is permitted, but only for disposals (or classifications as held for sale) that have not been reported in financial statements previously issued or available for issuance. The Company is currently evaluating the impact of the adoption on its consolidated financial statements. | |
In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606), which impacts virtually all aspects of an entity's revenue recognition. The core principle of the new standard is that revenue should be recognized to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The guidance is effective for annual reporting periods beginning after December 15, 2016. The Company is currently evaluating the impact of the adoption on its consolidated financial statements. | |
In June 2014, the FASB issued ASU No. 2014-10, Development Stage Entities (Topic 915): Elimination of Certain Financial Reporting Requirements, Including an Amendment to Variable Interest Entities Guidance in Topic 810, Consolidation, which removes the definition of development stage entity, as was previously defined under U.S. GAAP, thereby removing the financial reporting distinction between development stage entities and other reporting entities. In addition, the ASU eliminates the requirements for development stage entities to (i) present inception-to-date information in their financial statements, (ii) label the financial statements as those of a development stage entity, (iii) disclose a description of the development stage activities in which the entity is engaged, and (iv) disclose in the first year in which the entity is no longer a development stage entity that in prior years it had been in the development stage. This guidance is effective for annual reporting periods beginning after December 31, 2014 and early adoption of the standard is permitted. The Company adopted this guidance during the second quarter of 2014. | |
Reclassification | ' |
(i) Reclassification | |
Certain balances have been reclassified to conform to presentation requirements including discontinued operations. | |
Computation_of_Net_Loss_per_Co1
Computation of Net Loss per Common Share (Tables) | 6 Months Ended | |||||||||||||
Jun. 30, 2014 | ||||||||||||||
Earnings Per Share, Basic and Diluted [Abstract] | ' | |||||||||||||
Computation of Net Loss per Common Share | ' | |||||||||||||
The table below presents the computation of basic and diluted net losses per common share: | ||||||||||||||
Three months ended | Six months ended | |||||||||||||
June 30, | June 30, | |||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||
Basic Numerator: | ||||||||||||||
Loss from continuing operations attributable to shares of common stock | $ | -10,049 | $ | -10,229 | $ | -20,949 | $ | -21,088 | ||||||
Loss from discontinued operations attributable to shares of common stock | — | -711 | $ | -209 | $ | -1,816 | ||||||||
Net loss attributable to shares of common stock | $ | -10,049 | $ | -10,940 | $ | -21,158 | $ | -22,904 | ||||||
Basic Denominator: | ||||||||||||||
Weighted average number of shares of common stock outstanding during the period | 87,210,483 | 82,625,295 | 86,337,006 | 82,406,883 | ||||||||||
Weighted average number of penny stock options | — | 114,152 | — | 145,827 | ||||||||||
Basic common stock shares outstanding | 87,210,483 | 82,739,447 | 86,337,006 | 82,552,710 | ||||||||||
Basic loss per common stock share from continuing operations | $ | -0.12 | $ | -0.12 | $ | -0.24 | $ | -0.26 | ||||||
Basic loss per common stock share from discontinued operations | $ | 0 | -0.01 | $ | 0 | $ | -0.02 | |||||||
Basic net loss per common stock share | $ | -0.12 | $ | -0.13 | $ | -0.24 | $ | -0.28 | ||||||
Diluted Numerator: | ||||||||||||||
Net loss from continuing operations attributable to shares of common stock | $ | -10,049 | $ | -10,229 | $ | -20,949 | $ | -21,088 | ||||||
Increase in net loss attributable to derivative warrants | $ | -348 | $ | — | $ | — | $ | — | ||||||
Diluted net loss from continuing operations attributable to shares of common stock | $ | -10,397 | $ | -10,229 | $ | -20,949 | $ | -21,088 | ||||||
Diluted net loss from discontinued operations attributable to shares of common stock | $ | — | $ | -711 | $ | -209 | $ | -1,816 | ||||||
Diluted net loss attributable to shares of common stock | $ | -10,397 | $ | -10,940 | $ | -21,158 | $ | -22,904 | ||||||
Diluted Denominator: | ||||||||||||||
Basic common stock shares outstanding | 87,210,483 | 82,739,447 | 86,337,006 | 82,552,710 | ||||||||||
Weighted average number of derivative warrants outstanding during the period | 1,305,465 | — | — | — | ||||||||||
Diluted common stock shares outstanding | 88,515,948 | 82,739,447 | 86,337,006 | 82,552,710 | ||||||||||
Diluted loss per common stock share from continuing operations | $ | -0.12 | $ | -0.12 | $ | -0.24 | $ | -0.26 | ||||||
Diluted loss per common stock share from discontinued operations | $ | 0 | $ | -0.01 | $ | 0 | $ | -0.02 | ||||||
Diluted net loss per common stock share | $ | -0.12 | $ | -0.13 | $ | -0.24 | $ | -0.28 | ||||||
Net loss per share data presented excludes from the calculation of diluted net loss the following potentially dilutive securities, as they had an anti-dilutive impact: | ||||||||||||||
Both vested and unvested options at $0.96-$5.50 exercise price, to purchase an equal number of shares of common stock of the Company | 10,102,094 | 11,805,940 | 10,102,094 | 11,805,940 | ||||||||||
Unvested penny options to purchase an equal number of shares of common stock of the Company | — | 2,375 | — | 2,375 | ||||||||||
Unvested RSUs to issue an equal number of shares of common stock of the Company | 1,657,890 | 2,815,794 | 1,657,890 | 2,815,794 | ||||||||||
Common stock shares granted, but not yet vested | — | 61,478 | — | 61,478 | ||||||||||
Warrants to purchase an equal number of shares of common stock of the Company | 15,801,923 | 18,764,114 | 17,423,851 | 18,764,114 | ||||||||||
Total number of potentially dilutive instruments, excluded from the calculation of net loss per share | 27,561,907 | 33,449,701 | 29,183,835 | 33,449,701 | ||||||||||
Discontinued_Operations_and_As1
Discontinued Operations and Assets Held For Sale (Tables) | 6 Months Ended | |||||||
Jun. 30, 2014 | ||||||||
Discontinued Operations and Disposal Groups [Abstract] | ' | |||||||
Schedule of Disposal Groups, Including Discontinued Operations, Income Statement, Balance Sheet and Additional Disclosures | ' | |||||||
The following tables represent the components of operating results from discontinued operations, as presented in the consolidated statements of operations: | ||||||||
Three months ended June 30, | ||||||||
2014 | 2013 | |||||||
Revenue | $ | — | $ | 61 | ||||
Operating expenses | — | -748 | ||||||
Operating loss | — | -687 | ||||||
Non-operating expense | — | -22 | ||||||
Loss before taxes on income | — | -709 | ||||||
Income tax expense | — | -2 | ||||||
Loss from discontinued operations | $ | — | $ | -711 | ||||
Six months ended June 30, | ||||||||
2014 | 2013 | |||||||
Revenue | $ | 37 | $ | 126 | ||||
Operating expenses | -266 | -1,893 | ||||||
Operating loss | -229 | -1,767 | ||||||
Non-operating income (expense) | 20 | -31 | ||||||
Loss before taxes on income | -209 | -1,798 | ||||||
Income tax expense | — | -18 | ||||||
Loss from discontinued operations | $ | -209 | $ | -1,816 | ||||
In addition, the following table presents the carrying amounts of the major classes of assets from the discontinued mobile social application business in the Company’s consolidated balance sheet as of December 31, 2013. These assets were transferred to InfoMedia upon Closing. As of December 31, 2013, there were no liabilities classified as held for sale and no liabilities were transferred to InfoMedia upon Closing. | ||||||||
As of December 31, | ||||||||
2013 | ||||||||
Cash | $ | 48 | ||||||
Accounts receivable | 102 | |||||||
Goodwill at carrying amount of $208, net of $208 loss on impairment | — | |||||||
Acquired technology at carrying amount of $10,133, net of $2,451 accumulated amortization and $7,045 loss on impairment | 637 | |||||||
Total assets held for sale | $ | 787 | ||||||
Intangible_Assets_Tables
Intangible Assets (Tables) | 6 Months Ended | |||||||||
Jun. 30, 2014 | ||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | |||||||||
Components of Finite-Lived Intangible Assets | ' | |||||||||
As of June 30, | As of December 31, | Weighted average | ||||||||
2014 | 2013 | amortization period (years) | ||||||||
Patents | 28,213 | 28,213 | 8.3 | |||||||
Less: accumulated amortization | -7,390 | -5,465 | ||||||||
$ | 20,823 | $ | 22,748 | |||||||
Fair_Value_Measurements_Tables
Fair Value Measurements (Tables) | 6 Months Ended | ||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||
Fair Value Measurements [Abstract] | ' | ||||||||||||||||
Assets and Liabilities Measured at Fair Value on Recurring Basis | ' | ||||||||||||||||
The following table presents the placement in the fair value hierarchy of liabilities measured at fair value on a recurring basis as of June 30, 2014 and December 31, 2013: | |||||||||||||||||
Fair value measurement at reporting date using | |||||||||||||||||
Quoted prices in | |||||||||||||||||
active markets | Significant other | Significant | |||||||||||||||
for identical | observable | unobservable | |||||||||||||||
Derivative warrant liabilities | Balance | assets (Level 1) | inputs (Level 2) | inputs (Level 3) | |||||||||||||
As of June 30, 2014 | $ | 3,104 | — | — | $ | 3,104 | |||||||||||
As of December 31, 2013 | $ | 4,083 | — | — | $ | 4,083 | |||||||||||
Assets and Liabilities Measured at Fair Value on Nonrecurring Basis | ' | ||||||||||||||||
The following table presents the placement in the fair value hierarchy of assets that are measured at fair value on a non-recurring basis as of December 31, 2013 (there were no such assets or liabilities as of June 30, 2014): | |||||||||||||||||
Fair value measurement at reporting date using | |||||||||||||||||
Quoted prices in | |||||||||||||||||
active markets | Significant other | Significant | |||||||||||||||
for identical | observable | unobservable | |||||||||||||||
Balance | assets (Level 1) | inputs (Level 2) | inputs (Level 3) | ||||||||||||||
Assets held for sale | $ | 787 | $ | 150 | — | $ | 637 | ||||||||||
Changes in Liabilities Measured at Fair Value Using Significant Unobservable Inputs | ' | ||||||||||||||||
The following table summarizes the changes in the Company’s liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) during the six month period ended June 30, 2014: | |||||||||||||||||
Level 3 | |||||||||||||||||
Balance at December 31, 2013 | $ | 4,083 | |||||||||||||||
Fair value adjustment, prior to exercise of warrants, included in Consolidated Statement of Operations | 56 | ||||||||||||||||
Exercise of derivative warrants | (1,707 | ) | |||||||||||||||
Fair value adjustment at end of period, included in Consolidated Statement of Operations | 672 | ||||||||||||||||
Balance at June 30, 2014 | $ | 3,104 | |||||||||||||||
Fair Value Measurements Based Upon Sensitivity and Nature of Inputs | ' | ||||||||||||||||
The fair value measurements are evaluated by management to ensure that changes are consistent with expectations of management based upon the sensitivity and nature of the inputs. | |||||||||||||||||
Description | Valuation technique | Unobservable inputs | Range | ||||||||||||||
Special Bridge Warrants, Conversion Warrants, derivative | Black-Scholes-Merton and the | Volatility | 32.83% – 46.41% | ||||||||||||||
Reload Warrants and derivative Series 1 Warrants | Monte-Carlo models | Risk free interest rate | 0.08% – 0.88% | ||||||||||||||
Expected term, in years | 0.50 – 3.05 | ||||||||||||||||
Dividend yield | 0% | ||||||||||||||||
Probability and timing of down-round triggering event | 5% occurrence in December 2014 | ||||||||||||||||
Stockbased_Compensation_Tables
Stock-based Compensation (Tables) | 6 Months Ended | |||||||||||||||||
Jun. 30, 2014 | ||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | |||||||||||||||||
Stock Options and Restricted Stock Units Activity | ' | |||||||||||||||||
The activity related to stock options and RSU for the six month period ended June 30, 2014 consisted of the following: | ||||||||||||||||||
RSUs | Options | |||||||||||||||||
No. of | Weighted average | No. of | Weighted average | Exercise price | Weighted average | |||||||||||||
RSUs | grant date fair | options | exercise price | range | grant date fair | |||||||||||||
value | value | |||||||||||||||||
Outstanding at January 1, 2014 | 2,161,403 | $ | 3.61 | 10,457,159 | $ | 3.23 | $0.01 – $5.50 | $ | 2.5 | |||||||||
Granted | — | — | 1,200,000 | $ | 3.98 | $3.12 - $4.10 | $ | 2.16 | ||||||||||
Vested/Exercised | -500,388 | $ | 3.59 | -1,126,815 | $ | 1.92 | $0.01 – $3.72 | $ | 1.31 | |||||||||
Forfeited | -3,125 | $ | 3.72 | -95,833 | $ | 3.71 | $3.24 - $3.72 | $ | 2.19 | |||||||||
Expired | — | — | -332,416 | $ | 4.6 | $0.96 – $5.50 | $ | 1.97 | ||||||||||
Outstanding at June 30, 2014 | 1,657,890 | $ | 3.62 | 10,102,095 | $ | 3.41 | $0.96 – $5.50 | $ | 2.3 | |||||||||
Exercisable at June 30, 2014 | — | — | 6,099,385 | $ | 2.28 | $0.96 – $5.50 | ||||||||||||
Stock Option [Member] | ' | |||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | |||||||||||||||||
Schedule of Options Granted | ' | |||||||||||||||||
The following table illustrates the stock options granted for the six month period ended June 30, 2014: | ||||||||||||||||||
Title | Grant date | No. of | Exercise | FMV at | Vesting terms | Assumptions used in | ||||||||||||
options | price | grant date | Black-Scholes option pricing | |||||||||||||||
model | ||||||||||||||||||
Directors, Management, | January - June 2014 | 1,200,000 | $ 3.12 - $ 4.10 | $ 1.76 - $ 2.32 | Over 1 year for | Volatility: 57.75 % – 62.00% | ||||||||||||
and Employees | Directors; Over 3 years | Risk free interest rate: 1.82% - 2.06% | ||||||||||||||||
for Management and | Expected term, in years: 5.31-5.81 | |||||||||||||||||
Employees | Dividend yield: 0.00% | |||||||||||||||||
Warrants_Tables
Warrants (Tables) | 6 Months Ended | ||||||||||||
Jun. 30, 2014 | |||||||||||||
Warrants and Rights Note Disclosure [Abstract] | ' | ||||||||||||
Schedule Of Changes In Warrants Activity | ' | ||||||||||||
The following table summarizes information about warrant activity for the six month period ended June 30, 2014: | |||||||||||||
No. of warrants | Weighted average | Exercise | |||||||||||
exercise price | price range | ||||||||||||
Outstanding at January 1, 2014 | 18,427,478 | $ | 3.15 | $0.94 – $5.06 | |||||||||
Granted | 5,412,366 | $ | 5.06 | $ | 5.06 | ||||||||
Exercised | -6,415,992 | $ | 1.76 | $ | 1.76 | ||||||||
Outstanding at June 30, 2014 | 17,423,852 | $ | 4.26 | $0.94 – $5.06 | |||||||||
Schedule Of Warrants Outstanding | ' | ||||||||||||
The Company’s outstanding warrants consist of the following: | |||||||||||||
No. | No. | Remaining | |||||||||||
outstanding | outstanding | ||||||||||||
classified as | classified as | ||||||||||||
No. outstanding | equity | liabilities* | Exercise price | contractual life | |||||||||
Series 1 Warrants | 1,490,250 | 64,621 | 1,425,629 | $ | 1.76 | 3.05 years | |||||||
Series 2 Warrants | 1,943,523 | 1,943,523 | — | $ | 1.76 | 3.05 years | |||||||
Conversion Warrants | 14,492 | — | 14,492 | $ | 0.94 | 0.98 years | |||||||
Special Bridge Warrants | 21,198 | — | 21,198 | $ | 0.94 | 0.50 years | |||||||
Reload Warrants | 758,023 | 597,414 | 160,609 | $ | 1.76 | 2.61 years | |||||||
Initial Public Offering Warrants | 4,784,000 | 4,784,000 | — | $ | 5.06 | 0.98 years | |||||||
October 2012 Warrants | 3,000,000 | 3,000,000 | — | $ | 5.06 | 0.98 years | |||||||
June 2014 Warrants** | 5,412,366 | 5,412,366 | — | $ | 5.06 | 0.98 years | |||||||
Outstanding at June 30, 2014 | 17,423,852 | 15,801,924 | 1,621,928 | ||||||||||
* These warrants bear down-round protection clauses and as a result, they are classified as derivative liabilities and recorded at fair value. | |||||||||||||
** The June 2014 Warrants were valued on the grant date (June 20, 2014) using the following assumptions: volatility: 40.05%, stock price: $3.33, risk free interest rate: 0.15% and dividend yield: 0%. The new warrants issued in connection with the exercise of warrants classified as liabilities were accounted for as an inducement and therefore an amount of $65, which is based on the fair value of the new warrants, was recorded as a non-operating expense during the second quarter of 2014. The new warrants issued in connection with the exercise of warrants classified as equity, which were fair valued at $611, were recorded as equity. | |||||||||||||
General_Additional_Information
General (Additional Information) (Details) | Feb. 18, 2014 |
Cost Method Investment Ownership Percentage | 8.25% |
Computation_of_Net_Loss_per_Co2
Computation of Net Loss per Common Share (Computation of basic and diluted net losses per common share) (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Earnings Per Share Disclosure [Line Items] | ' | ' | ' | ' |
Loss from continuing operations attributable to shares of common stock | ($10,049) | ($10,229) | ($20,949) | ($21,088) |
Loss from discontinued operations attributable to shares of common stock | 0 | -711 | -209 | -1,816 |
Net loss attributable to shares of common stock | -10,049 | -10,940 | -21,158 | -22,904 |
Basic common stock shares outstanding | 87,210,483 | 82,739,447 | 86,337,006 | 82,552,710 |
Basic loss per common stock share from continuing operations | ($0.12) | ($0.12) | ($0.24) | ($0.26) |
Basic loss per common stock share from discontinued operations | $0 | ($0.01) | $0 | ($0.02) |
Basic net loss per common stock share | ($0.12) | ($0.13) | ($0.24) | ($0.28) |
Diluted common stock shares outstanding | 88,515,948 | 82,739,447 | 86,337,006 | 82,552,710 |
Diluted loss per common stock share from discontinued operations | $0 | ($0.01) | $0 | ($0.02) |
Diluted net loss per common stock share | ($0.12) | ($0.13) | ($0.24) | ($0.28) |
Net loss per share data presented excludes from the calculation of diluted net loss the following potentially dilutive securities, as they had an anti-dilutive impact: | ' | ' | ' | ' |
Total number of potentially dilutive instruments, excluded from the calculation of net loss per share | 27,561,907 | 33,449,701 | 29,183,835 | 33,449,701 |
Basic Numerator [Member] | ' | ' | ' | ' |
Earnings Per Share Disclosure [Line Items] | ' | ' | ' | ' |
Loss from continuing operations attributable to shares of common stock | -10,049 | -10,229 | -20,949 | -21,088 |
Loss from discontinued operations attributable to shares of common stock | 0 | -711 | -209 | -1,816 |
Net loss attributable to shares of common stock | -10,049 | -10,940 | -21,158 | -22,904 |
Basic Denominator [Member] | ' | ' | ' | ' |
Earnings Per Share Disclosure [Line Items] | ' | ' | ' | ' |
Weighted average number of shares of common stock outstanding during the period | 87,210,483 | 82,625,295 | 86,337,006 | 82,406,883 |
Weighted average number of penny stock options | 0 | 114,152 | 0 | 145,827 |
Basic common stock shares outstanding | 87,210,483 | 82,739,447 | 86,337,006 | 82,552,710 |
Basic loss per common stock share from continuing operations | ($0.12) | ($0.12) | ($0.24) | ($0.26) |
Basic loss per common stock share from discontinued operations | $0 | ($0.01) | $0 | ($0.02) |
Basic net loss per common stock share | ($0.12) | ($0.13) | ($0.24) | ($0.28) |
Diluted Numerator [Member] | ' | ' | ' | ' |
Earnings Per Share Disclosure [Line Items] | ' | ' | ' | ' |
Loss from continuing operations attributable to shares of common stock | -10,049 | -10,229 | -20,949 | -21,088 |
Increase in net loss attributable to derivative warrants | -348 | 0 | 0 | 0 |
Diluted net loss from continued operations attributable to shares of common stock | -10,397 | -10,229 | -20,949 | -21,088 |
Diluted net loss from discontinued operations attributable to shares of common stock | 0 | -711 | -209 | -1,816 |
Diluted net loss attributable to shares of common stock | ($10,397) | ($10,940) | ($21,158) | ($22,904) |
Diluted Denominator [Member] | ' | ' | ' | ' |
Earnings Per Share Disclosure [Line Items] | ' | ' | ' | ' |
Basic common stock shares outstanding | 87,210,483 | 82,739,447 | 86,337,006 | 82,552,710 |
Weighted average number of derivative warrants outstanding during the period | 1,305,465 | 0 | 0 | 0 |
Diluted common stock shares outstanding | 88,515,948 | 82,739,447 | 86,337,006 | 82,552,710 |
Diluted loss per common stock share from continuing operations | ($0.12) | ($0.12) | ($0.24) | ($0.26) |
Diluted loss per common stock share from discontinued operations | $0 | ($0.01) | $0 | ($0.02) |
Diluted net loss per common stock share | ($0.12) | ($0.13) | ($0.24) | ($0.28) |
Vested and unvested options at $0.96-$5.50 exercise price [Member] | ' | ' | ' | ' |
Net loss per share data presented excludes from the calculation of diluted net loss the following potentially dilutive securities, as they had an anti-dilutive impact: | ' | ' | ' | ' |
Total number of potentially dilutive instruments, excluded from the calculation of net loss per share | 10,102,094 | 11,805,940 | 10,102,094 | 11,805,940 |
Unvested penny options [Member] | ' | ' | ' | ' |
Net loss per share data presented excludes from the calculation of diluted net loss the following potentially dilutive securities, as they had an anti-dilutive impact: | ' | ' | ' | ' |
Total number of potentially dilutive instruments, excluded from the calculation of net loss per share | 0 | 2,375 | 0 | 2,375 |
Unvested Restricted Stock Units (bRSUb) [Member] | ' | ' | ' | ' |
Net loss per share data presented excludes from the calculation of diluted net loss the following potentially dilutive securities, as they had an anti-dilutive impact: | ' | ' | ' | ' |
Total number of potentially dilutive instruments, excluded from the calculation of net loss per share | 1,657,890 | 2,815,794 | 1,657,890 | 2,815,794 |
Common stock shares granted, but not yet vested [Member] | ' | ' | ' | ' |
Net loss per share data presented excludes from the calculation of diluted net loss the following potentially dilutive securities, as they had an anti-dilutive impact: | ' | ' | ' | ' |
Total number of potentially dilutive instruments, excluded from the calculation of net loss per share | 0 | 61,478 | 0 | 61,478 |
Warrants to purchase an equal number of shares of common stock of the Company [Member] | ' | ' | ' | ' |
Net loss per share data presented excludes from the calculation of diluted net loss the following potentially dilutive securities, as they had an anti-dilutive impact: | ' | ' | ' | ' |
Total number of potentially dilutive instruments, excluded from the calculation of net loss per share | 15,801,923 | 18,764,114 | 17,423,851 | 18,764,114 |
Computation_of_Net_Loss_per_Co3
Computation of Net Loss per Common Share (Parenthetical) (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
Earnings Per Share Disclosure [Line Items] | ' | ' |
Stock Option Exercise Price | $3.41 | $3.23 |
Maximum [Member] | ' | ' |
Earnings Per Share Disclosure [Line Items] | ' | ' |
Stock Option Exercise Price | $5.50 | $5.50 |
Minimum [Member] | ' | ' |
Earnings Per Share Disclosure [Line Items] | ' | ' |
Stock Option Exercise Price | $0.96 | $0.01 |
Discontinued_Operations_and_As2
Discontinued Operations and Assets Held For Sale (Disposal Group Not Discontinued Operation Income Statement Disclosures) (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ' | ' | ' | ' |
Revenue | $0 | $61 | $37 | $126 |
Operating expenses | 0 | -748 | -266 | -1,893 |
Operating loss | 0 | -687 | -229 | -1,767 |
Non-operating income (expense) | 0 | -22 | 20 | -31 |
Loss before taxes on income | 0 | -709 | -209 | -1,798 |
Income tax expense | 0 | -2 | 0 | -18 |
Loss from discontinued operations | $0 | ($711) | ($209) | ($1,816) |
Discontinued_Operations_and_As3
Discontinued Operations and Assets Held For Sale (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ' | ' |
Cash | ' | $48 |
Accounts receivable | ' | 102 |
Goodwill at carrying amount of $208, net of $208 loss on impairment | ' | 0 |
Acquired technology at carrying amount of $10,133, net of $2,451 accumulated amortization and $7,045 loss on impairment | ' | 637 |
Total assets held for sale | $0 | $787 |
Discontinued_Operations_and_As4
Discontinued Operations and Assets Held For Sale (Parenthetical) (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Jun. 30, 2014 |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ' | ' |
Goodwill, Gross | $208 | ' |
Goodwill, Impairment Loss | 208 | ' |
Finite-Lived Intangible Assets, Gross | 28,213 | 28,213 |
Finite-Lived Intangible Assets, Accumulated Amortization | 5,465 | 7,390 |
Acquired Technology [Member] | ' | ' |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ' | ' |
Finite-Lived Intangible Assets, Gross | 10,133 | ' |
Finite-Lived Intangible Assets, Accumulated Amortization | 2,451 | ' |
Impairment of Intangible Assets, Finite-lived | $7,045 | ' |
Discontinued_Operations_and_As5
Discontinued Operations and Assets Held For Sale (Additional Information) (Details) (USD $) | Jun. 30, 2014 | Feb. 18, 2014 |
In Thousands, unless otherwise specified | ||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ' | ' |
Cost Method Investment Ownership Percentage | ' | 8.25% |
Infomedia [Member] | ' | ' |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ' | ' |
Cost Method Investment Ownership Percentage | ' | 8.25% |
Cost Method Investments | $787 | ' |
Intangible_Assets_Schedule_of_
Intangible Assets (Schedule of Finite-Lived Intangible Assets) (Details) (USD $) | 6 Months Ended | |
In Thousands, unless otherwise specified | Jun. 30, 2014 | Dec. 31, 2013 |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Patents | $28,213 | $28,213 |
Less: accumulated amortization | -7,390 | -5,465 |
Finite-Lived Intangible Assets, Net | $20,823 | $22,748 |
Weighted average amortization period (years) | '8 years 3 months 18 days | ' |
Intangible_Assets_Additional_I
Intangible Assets (Additional Information) (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' | ' |
Amortization of Intangible Assets | $968 | $839 | $1,925 | $1,678 |
Patents [Member] | ' | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' | ' |
Amortization of Intangible Assets | $968 | $839 | $1,925 | $1,678 |
Fair_Value_Measurements_Assets
Fair Value Measurements (Assets and Liabilities Measured at Fair Value on Recurring Basis) (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Liabilities | ' | ' |
Derivative warrant liabilities | $3,104 | $4,083 |
Fair Value, Inputs, Level 1 [Member] | ' | ' |
Liabilities | ' | ' |
Derivative warrant liabilities | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | ' | ' |
Liabilities | ' | ' |
Derivative warrant liabilities | 0 | 0 |
Fair Value Inputs Level 3 [Member] | ' | ' |
Liabilities | ' | ' |
Derivative warrant liabilities | $3,104 | $4,083 |
Fair_Value_Measurements_Assets1
Fair Value Measurements (Assets and Liabilities Measured at Fair Value on Nonrecurring Basis) (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Fair Value Assets and Liabilities Measured On Nonrecurring Basis [Line Items] | ' | ' |
Assets held for sale | $0 | $787 |
Fair Value, Inputs, Level 1 [Member] | ' | ' |
Fair Value Assets and Liabilities Measured On Nonrecurring Basis [Line Items] | ' | ' |
Assets held for sale | ' | 150 |
Fair Value, Inputs, Level 2 [Member] | ' | ' |
Fair Value Assets and Liabilities Measured On Nonrecurring Basis [Line Items] | ' | ' |
Assets held for sale | ' | 0 |
Fair Value Inputs Level 3 [Member] | ' | ' |
Fair Value Assets and Liabilities Measured On Nonrecurring Basis [Line Items] | ' | ' |
Assets held for sale | ' | $637 |
Fair_Value_Measurements_Change
Fair Value Measurements (Changes in Liabilities Measured at Fair Value Using Significant Unobservable Inputs) (Details) (USD $) | 6 Months Ended |
In Thousands, unless otherwise specified | Jun. 30, 2014 |
Fair Value Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items] | ' |
Opening balance | $4,083 |
Fair value adjustment, prior to exercise of warrants, included in Consolidated Statement of Operations | 56 |
Exercise of derivative warrants | -1,707 |
Fair value adjustment at end of period, included in Consolidated Statement of Operations | 672 |
Closing balance | $3,104 |
Fair_Value_Measurements_Based_
Fair Value Measurements (Based Upon Sensitivity and Nature of Inputs) (Details) | 6 Months Ended |
Jun. 30, 2014 | |
Fair Value Inputs, Liabilities, Quantitative Information [Line Items] | ' |
Dividend yield | 0.00% |
Probability of down-round triggering event | 5.00% |
Timing of down-round triggering event | 'December 2014 |
Minimum [Member] | ' |
Fair Value Inputs, Liabilities, Quantitative Information [Line Items] | ' |
Volatility | 32.83% |
Risk free interest rate | 0.08% |
Expected term, in years | '6 months |
Maximum [Member] | ' |
Fair Value Inputs, Liabilities, Quantitative Information [Line Items] | ' |
Volatility | 46.41% |
Risk free interest rate | 0.88% |
Expected term, in years | '3 years 18 days |
Stockbased_Compensation_Schedu
Stock-based Compensation (Schedule Of Common Stock Option Granted) (Details) (USD $) | 6 Months Ended | |
Jun. 30, 2014 | Dec. 31, 2013 | |
Stockholders Equity [Line Items] | ' | ' |
No. of options | 1,200,000 | ' |
Exercise price | $3.41 | $3.23 |
FMV at grant date | $2.16 | ' |
Maximum [Member] | ' | ' |
Stockholders Equity [Line Items] | ' | ' |
Exercise price | $5.50 | $5.50 |
Minimum [Member] | ' | ' |
Stockholders Equity [Line Items] | ' | ' |
Exercise price | $0.96 | $0.01 |
Management Directors and Employees [Member] | ' | ' |
Stockholders Equity [Line Items] | ' | ' |
Grant Date | 'January - June 2014 | ' |
No. of options | 1,200,000 | ' |
Vesting terms | 'Over 1 year for Directors; Over 3 years for Management and Employees | ' |
Volatility Rate, Minimum | 57.75% | ' |
Volatility Rate, Maximum | 62.00% | ' |
Risk free interest rate, Minimum | 1.82% | ' |
Risk free interest rate, Maximum | 2.06% | ' |
Dividend yield | 0.00% | ' |
Management Directors and Employees [Member] | Maximum [Member] | ' | ' |
Stockholders Equity [Line Items] | ' | ' |
Exercise price | $4.10 | ' |
FMV at grant date | $2.32 | ' |
Expected term, in years | '5 years 9 months 22 days | ' |
Management Directors and Employees [Member] | Minimum [Member] | ' | ' |
Stockholders Equity [Line Items] | ' | ' |
Exercise price | $3.12 | ' |
FMV at grant date | $1.76 | ' |
Expected term, in years | '5 years 3 months 22 days | ' |
Stockbased_Compensation_Option
Stock-based Compensation (Option Activity) (Details) (USD $) | 6 Months Ended |
Jun. 30, 2014 | |
Stockholders Equity [Line Items] | ' |
No. of options, Outstanding at January 1, 2014 | 10,457,159 |
Granted | 1,200,000 |
No. of options, Vested/Exercised | -1,126,815 |
No. of options, Forfeited | -95,833 |
No. of options, Expired | -332,416 |
No. of options, Outstanding at June 30, 2014 | 10,102,095 |
No. of options, Exercisable at June 30, 2014 | 6,099,385 |
Exercise price range, Outstanding at January 1, 2014 | $3.23 |
Exercise price range, Granted | $3.98 |
Exercise price range, Vested/Exercised | $1.92 |
Exercise price range, Forfeited | $3.71 |
Exercise price range, Expired | $4.60 |
Exercise price range, Outstanding June 30, 2014 | $3.41 |
Exercise price range, Exercisable at June 30, 2014 | $2.28 |
Weighted average grant date fair value, Outstanding at January 1, 2014 | $2.50 |
Weighted average grant date fair value, Granted | $2.16 |
Weighted average grant date fair value, Vested/Exercised | $1.31 |
Weighted average grant date fair value, Forfeited | $2.19 |
Weighted average grant date fair value, Expired | $1.97 |
Weighted average grant date fair value, Outstanding at June 30, 2014 | $2.30 |
Restricted Stock [Member] | ' |
Stockholders Equity [Line Items] | ' |
No of RSUs Outstanding at January 1, 2014 | 2,161,403 |
No. of RSUs, Granted | 0 |
No. of RSUs, Vested/Exercised | -500,388 |
No. of RSUs, Forfeited | -3,125 |
No. of RSUs, Expired | 0 |
No. of RSUs, Outstanding at June 30, 2014 | 1,657,890 |
No. of RSUs, Exercisable at June 30, 2014 | 0 |
Weighted average grant date fair value Outstanding at January 1, 2014 | $3.61 |
Weighted average grant date fair value, Granted | $0 |
Weighted average grant date fair value, Vested/Exercised | $3.59 |
Weighted average grant date fair value, Forfeited | $3.72 |
Weighted average grant date fair value, Expired | $0 |
Weighted average grant date fair value, Outstanding at June 30, 2014 | $3.62 |
Weighted average grant date fair value, Exercisable at June 30, 2014 | $0 |
Minimum [Member] | ' |
Stockholders Equity [Line Items] | ' |
Exercise price range, Outstanding at January 1, 2014 | $0.01 |
Exercise price range, Granted | $3.12 |
Exercise price range, Vested/Exercised | $0.01 |
Exercise price range, Forfeited | $3.24 |
Exercise price range, Expired | $0.96 |
Exercise price range, Outstanding June 30, 2014 | $0.96 |
Exercise price range, Exercisable at June 30, 2014 | $0.96 |
Maximum [Member] | ' |
Stockholders Equity [Line Items] | ' |
Exercise price range, Outstanding at January 1, 2014 | $5.50 |
Exercise price range, Granted | $4.10 |
Exercise price range, Vested/Exercised | $3.72 |
Exercise price range, Forfeited | $3.72 |
Exercise price range, Expired | $5.50 |
Exercise price range, Outstanding June 30, 2014 | $5.50 |
Exercise price range, Exercisable at June 30, 2014 | $5.50 |
Stockbased_Compensation_Additi
Stock-based Compensation (Additional Information) (Detail) | 6 Months Ended |
Jun. 30, 2014 | |
Stockholders Equity [Line Items] | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 3,741,170 |
Maximum [Member] | ' |
Stockholders Equity [Line Items] | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 100.00% |
Minimum [Member] | ' |
Stockholders Equity [Line Items] | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 75.00% |
Two Thousand Twelve Stock Option Plan [Member] | Maximum [Member] | ' |
Stockholders Equity [Line Items] | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Shares Issued in Period | 15,600,000 |
Warrants_Schedule_Of_Changes_I
Warrants (Schedule Of Changes In Warrants Activity) (Details) (Warrant [Member], USD $) | 6 Months Ended | ||||
Jun. 30, 2014 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | |
Maximum [Member] | Maximum [Member] | Minimum [Member] | Minimum [Member] | ||
No of RSUs Outstanding at January 1, 2014 | 18,427,478,000 | ' | ' | ' | ' |
Granted | 5,412,366,000 | ' | ' | ' | ' |
Exercised | -6,415,992,000 | ' | ' | ' | ' |
No. of RSUs, Outstanding at June 30, 2014 | 17,423,852,000 | ' | ' | ' | ' |
Outstanding at January, Weighted average exercise price | $3.15 | ' | ' | ' | ' |
Granted, Weighted average exercise price | $5.06 | ' | ' | ' | ' |
Exercised, Weighted average exercise price | $1.76 | ' | ' | ' | ' |
Outstanding at January, Weighted average exercise price | $4.26 | ' | ' | ' | ' |
Outstanding At January, Exercise price range | ' | ' | $5.06 | ' | $0.94 |
Granted, Exercise price range | $5.06 | ' | ' | ' | ' |
Exercised, Exercise price range | $1.76 | ' | ' | ' | ' |
Outstanding At January, Exercise price range | ' | $5.06 | ' | $0.94 | ' |
Warrants_Schedule_of_Warrants_
Warrants (Schedule of Warrants Outstanding) (Details) (USD $) | 6 Months Ended | |
In Thousands, except Per Share data, unless otherwise specified | Jun. 30, 2014 | |
Warrant outstanding | 17,423,852 | |
Class of Warrant or Right Number of Equity Called by Warrants or Rights | 15,801,924 | |
Class of Warrant or Right, Number of Liabilities Called by Each Warrant or Right | 1,621,928 | [1] |
Series 1 Warrants [Member] | ' | |
Warrant outstanding | 1,490,250 | |
Class of Warrant or Right Number of Equity Called by Warrants or Rights | 64,621 | |
Class of Warrant or Right, Number of Liabilities Called by Each Warrant or Right | 1,425,629 | [1] |
Exercise Price | $1.76 | |
Expected Term Of Warrants | '3 years 18 days | |
Series 2 Warrants [Member] | ' | |
Warrant outstanding | 1,943,523 | |
Class of Warrant or Right Number of Equity Called by Warrants or Rights | 1,943,523 | |
Class of Warrant or Right, Number of Liabilities Called by Each Warrant or Right | 0 | [1] |
Exercise Price | $1.76 | |
Expected Term Of Warrants | '3 years 18 days | |
Conversion Warrants [Member] | ' | |
Warrant outstanding | 14,492 | |
Class of Warrant or Right Number of Equity Called by Warrants or Rights | 0 | |
Class of Warrant or Right, Number of Liabilities Called by Each Warrant or Right | 14,492 | [1] |
Exercise Price | $0.94 | |
Expected Term Of Warrants | '11 months 23 days | |
Special Bridge Warrants [Member] | ' | |
Warrant outstanding | 21,198 | |
Class of Warrant or Right Number of Equity Called by Warrants or Rights | 0 | |
Class of Warrant or Right, Number of Liabilities Called by Each Warrant or Right | 21,198 | [1] |
Exercise Price | $0.94 | |
Expected Term Of Warrants | '6 months | |
Reload Warrants [Member] | ' | |
Warrant outstanding | 758,023 | |
Class of Warrant or Right Number of Equity Called by Warrants or Rights | 597,414 | |
Class of Warrant or Right, Number of Liabilities Called by Each Warrant or Right | 160,609 | [1] |
Exercise Price | $1.76 | |
Expected Term Of Warrants | '2 years 7 months 10 days | |
Initial Public Offering Warrant [Member] | ' | |
Warrant outstanding | 4,784,000 | |
Class of Warrant or Right Number of Equity Called by Warrants or Rights | 4,784,000 | |
Class of Warrant or Right, Number of Liabilities Called by Each Warrant or Right | 0 | [1] |
Exercise Price | $5.06 | |
Expected Term Of Warrants | '11 months 23 days | |
October 2012 Warrants [Member] | ' | |
Warrant outstanding | 3,000,000 | |
Class of Warrant or Right Number of Equity Called by Warrants or Rights | 3,000,000 | |
Class of Warrant or Right, Number of Liabilities Called by Each Warrant or Right | 0 | [1] |
Exercise Price | $5.06 | |
Expected Term Of Warrants | '11 months 23 days | |
June 2014 Warrants [Member] | ' | |
Warrant outstanding | 5,412,366 | [2] |
Class of Warrant or Right Number of Equity Called by Warrants or Rights | 5,412,366 | [2] |
Class of Warrant or Right, Number of Liabilities Called by Each Warrant or Right | 0 | [1],[2] |
Exercise Price | $5.06 | [2] |
Expected Term Of Warrants | '11 months 23 days | [2] |
[1] | These warrants bear down-round protection clauses and as a result, they are classified as derivative liabilities and recorded at fair value. | |
[2] | The June 2014 Warrants were valued on the grant date (June 20, 2014) using the following assumptions: volatility: 40.05%, stock price: $3.33, risk free interest rate: 0.15% and dividend yield: 0%. The new warrants issued in connection with the exercise of warrants classified as liabilities were accounted for as an inducement and therefore an amount of $65, which is based on the fair value of the new warrants, was recorded as a non-operating expense during the second quarter of 2014. The new warrants issued in connection with the exercise of warrants classified as equity, which were fair valued at $611, were recorded as equity. |
Warrants_Schedule_of_Warrants_1
Warrants (Schedule of Warrants Outstanding) (Parenthetical) (Details) (USD $) | 6 Months Ended | 1 Months Ended | |
In Thousands, except Per Share data, unless otherwise specified | Jun. 30, 2014 | Jun. 19, 2014 | Jun. 19, 2014 |
Warrant [Member] | |||
Share Price | ' | ' | $3.33 |
Fair Value Assumptions Expected Volatility Rate | ' | ' | 40.05% |
Fair Value Assumptions Risk Free Interest Rate | ' | ' | 0.15% |
Fair Value Assumptions Expected Dividend Rate | 0.00% | ' | 0.00% |
Income Loss From Issuance Of Inducement Warrant | ' | ' | $65 |
Warrants and Rights Outstanding | ' | $611 | ' |
Warrants_Additional_Informatio
Warrants (Additional Information) (Details) (USD $) | 1 Months Ended | 6 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Jun. 19, 2014 | Jun. 30, 2014 | Jun. 30, 2013 | Dec. 31, 2013 |
Common Stock, Shares, Outstanding | ' | 92,545,862 | ' | 84,502,653 |
Common stock, par value | ' | $0.01 | ' | $0.01 |
Proceeds From Warrant Exercises | $10,027 | $11,292 | $174 | ' |
Investment Warrants Expiration Date | ' | 21-Jun-15 | ' | ' |
Warrant [Member] | ' | ' | ' | ' |
Common Stock, Shares, Outstanding | 5,697,227 | ' | ' | ' |
Exercise Price | $1.76 | ' | ' | ' |
Warrant [Member] | Innovate Protect Inc [Member] | ' | ' | ' | ' |
Exercise Price | $5.06 | ' | ' | ' |
Warrants Issued | 5,412,366 | ' | ' | ' |
Common stock, par value | ' | $0.01 | ' | ' |
Commitments_And_Contingencies_
Commitments And Contingencies (Additional Information) (Details) (USD $) | 3 Months Ended | 6 Months Ended | 6 Months Ended | 6 Months Ended | |||||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | 5-May-14 | Jun. 30, 2014 | 31-May-13 | Nov. 30, 2012 | Jun. 30, 2014 |
Until Renovation Of Building [Member] | Maximum [Member] | Maximum [Member] | New York [Member] | ||||||
Written Commitment One [Member] | Written Commitment Two [Member] | ||||||||
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Rental expense for operating leases | $70 | $63 | $182 | $107 | ' | ' | ' | ' | ' |
Guarantee placed for contingent loss in litigation | ' | ' | ' | ' | ' | ' | 2,900 | 2,900 | ' |
Operating Lease Rent Expense Annual Fee | ' | ' | ' | ' | ' | 403 | ' | ' | 137 |
Revocation Proceeding Value | ' | ' | 1,700 | ' | ' | ' | ' | ' | ' |
Infringement Proceeding Value | ' | ' | 1,400 | ' | ' | ' | ' | ' | ' |
Deposited Amount For Surety Against Truth Of Allegations | ' | ' | 904 | ' | ' | ' | ' | ' | ' |
Litigation Settlement Deposit Amount | ' | ' | ' | ' | $1,400 | ' | ' | ' | ' |