Document And Entity Information
Document And Entity Information - USD ($) | 12 Months Ended | ||
Dec. 31, 2015 | Mar. 30, 2016 | Jun. 30, 2015 | |
Document And Entity Information [Abstract] | |||
Document Type | 10-K | ||
Document Period End Date | Dec. 31, 2015 | ||
Amendment Flag | false | ||
Entity Registrant Name | PARKERVISION INC | ||
Entity Central Index Key | 914,139 | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Filer Category | Smaller Reporting Company | ||
Document Fiscal Year Focus | 2,015 | ||
Document Fiscal Period Focus | FY | ||
Entity Common Stock, Shares Outstanding | 11,469,934 | ||
Entity Public Float | $ 30,522,603 | ||
Trading Symbol | prkr | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Well-known Seasoned Issuer | No |
Balance Sheets
Balance Sheets - USD ($) | Dec. 31, 2015 | Dec. 31, 2014 | |
CURRENT ASSETS: | |||
Cash and cash equivalents | $ 175,401 | $ 218,925 | |
Available-for-sale securities | 1,789,947 | 10,985,000 | |
Inventories, net | 160,776 | 66,468 | |
Accounts receivable, net | 4,119 | 0 | |
Prepaid expenses and other | 222,370 | 812,577 | |
Total current assets | 2,352,613 | 12,082,970 | |
PROPERTY AND EQUIPMENT, net | 445,543 | 633,084 | |
INTANGIBLE ASSETS, net | 7,574,933 | 8,002,638 | |
Total assets | 10,373,089 | 20,718,692 | |
CURRENT LIABILITIES: | |||
Accounts payable | 2,318,671 | 475,200 | |
Accrued expenses: | |||
Salaries and wages | 290,169 | 394,964 | |
Professional fees | 1,115,140 | 940,581 | |
Other accrued expenses | 218,962 | 99,614 | |
Deferred rent, current portion | 73,899 | 54,426 | |
Deferred revenue | 20,981 | 0 | |
Total current liabilities | 4,037,822 | 1,964,785 | |
LONG-TERM LIABILITES | |||
Captial leases, net of current portion | 285 | 10,244 | |
Deferred rent, net of current portion | 52,197 | 127,964 | |
Total long-term liabilities | 52,482 | 138,208 | |
Total liabilities | $ 4,090,304 | $ 2,102,993 | |
COMMITMENTS AND CONTINGENCIES | |||
SHAREHOLDERS' EQUITY: | |||
Common stock, $.01 par value, 15,000,000 shares authorized, 11,015,180 and 4,859,172 shares issued and outstanding at December 31, 2015 and December 31, 2014, respectively | [1] | $ 110,152 | $ 97,184 |
Accumulated other comprehensive loss | (53) | 0 | |
Warrants outstanding | 1,300,000 | 355,778 | |
Additional paid-in capital | [1] | 335,527,356 | 331,742,400 |
Accumulated deficit | (330,654,670) | (313,579,663) | |
Total shareholders' equity | 6,282,785 | 18,615,699 | |
Total liabilities and shareholders' equity | $ 10,373,089 | $ 20,718,692 | |
[1] | Adjusted to reflect the impact of the 1:10 reverse stock split that became effective on March 30, 2016. |
Balance Sheets (Parenthetical)
Balance Sheets (Parenthetical) | Dec. 31, 2015$ / sharesshares | Dec. 31, 2014$ / sharesshares |
Common stock, par value | $ / shares | $ 0.01 | $ 0.01 |
Common stock, shares authorized | 15,000,000 | 15,000,000 |
Common stock, shares issued | 11,015,180 | 9,718,343 |
Common stock, shares outstanding | 11,015,180 | 9,718,343 |
Statements Of Comprehensive Los
Statements Of Comprehensive Loss - USD ($) | 12 Months Ended | |||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | ||
Statements Of Comprehensive Loss [Abstract] | ||||
Revenue | $ 10,780 | $ 0 | $ 0 | |
Cost of sales | (12,219) | 0 | 0 | |
Gross margin | (1,439) | 0 | 0 | |
Research and development expenses | 5,456,037 | 8,497,914 | 10,406,362 | |
Marketing and selling expenses | 1,458,791 | 2,866,766 | 1,755,130 | |
General and administrative expenses | 10,147,863 | 12,302,298 | 15,787,599 | |
Total operating expenses | 17,062,691 | 23,666,978 | 27,949,091 | |
Interest and other income | 10,862 | 104,943 | 83,892 | |
Interest expense | (21,739) | (6,920) | (7,094) | |
Total interest and other income and interest expense | (10,877) | 98,023 | 76,798 | |
Net loss | (17,075,007) | (23,568,955) | (27,872,293) | |
Other comprehensive (loss) income, net of tax: | ||||
Unrealized (loss) gain on available-for-sale securities | (53) | 8,215 | (8,195) | |
Other comprehensive (loss) income, net of tax | (53) | 8,215 | (8,195) | |
Comprehensive loss | $ (17,075,060) | $ (23,560,740) | $ (27,880,488) | |
Basic and diluted net loss per common share | [1] | $ (1.74) | $ (2.45) | $ (3.13) |
Weighted average common shares outstanding | [1] | 9,842,334 | 9,622,595 | 8,896,805 |
[1] | Adjusted to reflect the impact of the 1:10 reverse stock split that became effective on March 30, 2016. |
Statements Of Comprehensive Lo5
Statements Of Comprehensive Loss (Parenthetical) | Mar. 30, 2016 |
Subsequent Event [Member] | |
Post reserve split ratio | 0.1 |
Statements Of Shareholders' Equ
Statements Of Shareholders' Equity - USD ($) | Par Value Of Common Stock [Member] | [1] | Accumulated Other Comprehensive Income (Loss) [Member] | Warrants Outstanding [Member] | Additional Paid-in Capital [Member] | [1] | Accumulated Deficit [Member] | Total |
Balance, value (Scenario, Previously Reported [Member]) at Dec. 31, 2012 | $ 829,036 | $ (20) | $ 1,081,050 | $ 276,748,336 | $ (262,138,415) | $ 16,519,987 | ||
Balance, value at Dec. 31, 2012 | 82,904 | (20) | 1,081,050 | 277,494,468 | (262,138,415) | 16,519,987 | ||
Issuance of common stock upon exercise of options and warrants | 1,197 | 0 | (417,950) | 1,564,133 | 0 | 1,147,380 | ||
Issuance of common stock and warrants in public and private offerings | 8,397 | 0 | 0 | 27,319,578 | 0 | 27,327,975 | ||
Share-based compensation | 711 | 0 | 0 | 6,930,727 | 0 | 6,931,438 | ||
Comprehensive loss for the year | 0 | (8,195) | 0 | 0 | (27,872,293) | (27,880,488) | ||
Balance, value at Dec. 31, 2013 | 93,209 | (8,215) | 663,100 | 313,308,906 | (290,010,708) | 24,046,292 | ||
Issuance of common stock upon exercise of options and warrants | 905 | 0 | (307,322) | 1,961,967 | 0 | 1,655,550 | ||
Issuance of common stock and warrants in public and private offerings | 2,667 | 0 | 0 | 11,943,698 | 0 | 11,946,365 | ||
Share-based compensation | 403 | 0 | 0 | 4,527,829 | 0 | 4,528,232 | ||
Comprehensive loss for the year | 0 | 8,215 | 0 | (23,568,955) | (23,560,740) | |||
Balance, value at Dec. 31, 2014 | 97,184 | 0 | 355,778 | 331,742,400 | (313,579,663) | 18,615,699 | ||
Issuance of common stock and warrants in public and private offerings | 11,067 | 0 | 1,300,000 | 2,079,556 | 0 | 3,390,623 | ||
Issuance of common stock for services | 250 | 0 | 0 | 249,750 | 0 | 250,000 | ||
Expiration of warrants | 0 | 0 | (355,778) | 355,778 | 0 | 0 | ||
Share-based compensation | 1,651 | 0 | 0 | 1,099,872 | 0 | 1,101,523 | ||
Comprehensive loss for the year | 0 | (53) | 0 | 0 | (17,075,007) | (17,075,060) | ||
Balance, value at Dec. 31, 2015 | $ 110,152 | $ (53) | $ 1,300,000 | $ 335,527,356 | $ (330,654,670) | $ 6,282,785 | ||
[1] | Adjusted to reflect the impact of the 1:10 reverse stock split that became effective on March 30, 2016. |
Statements Of Shareholders' Eq7
Statements Of Shareholders' Equity (Parenthetical) | Mar. 30, 2016 |
Subsequent Event [Member] | |
Post reserve split ratio | 0.1 |
Statements Of Cash Flows
Statements Of Cash Flows - USD ($) | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | |||
Net loss | $ (17,075,007) | $ (23,568,955) | $ (27,872,293) |
Adjustments to reconcile net loss to net cash used in operating activities: | |||
Depreciation and amortization | 1,308,511 | 1,379,509 | 1,252,142 |
Share-based compensation | 1,101,523 | 4,528,232 | 6,931,438 |
Loss on disposal of equipment and other assets | 125,910 | 887 | 126 |
Realized loss on available-for-sale securities | 15,706 | 6,869 | 12,226 |
Changes in operating assets and liabilities: | |||
Accounts receivable | (4,119) | 0 | 0 |
Inventories | (19,710) | (56,862) | 0 |
Prepaid expenses and other | 840,207 | (258,040) | 443,639 |
Accounts payable and accrued expenses | 2,021,058 | (596,038) | 421,943 |
Deferred rent | (56,294) | 109,333 | (50,634) |
Deferred revenue | 20,981 | 0 | 0 |
Total adjustments | 5,353,773 | 5,113,890 | 9,010,880 |
Net cash used in operating activities | (11,721,234) | (18,455,065) | (18,861,413) |
CASH FLOWS FROM INVESTING ACTIVITIES: | |||
Purchase of available-for-sale securities | (2,700,706) | (11,606,165) | (27,096,006) |
Proceeds from redemption of available for sale securities | 11,880,000 | 17,580,000 | 18,160,000 |
Proceeds from sale of assets | 4,200 | 0 | 0 |
Purchases of property and equipment | (51,271) | (401,268) | (78,509) |
Payments for patent costs and other intangible assets | (693,153) | (673,457) | (652,029) |
Net cash provided by (used in) investing activities | 8,439,070 | 4,899,110 | (9,666,544) |
CASH FLOWS FROM FINANCING ACTIVITIES: | |||
Net proceeds from issuance of common stock in public and private offerings | 3,390,623 | 11,946,365 | 27,327,975 |
Proceeds from exercise of options and warrants | 0 | 1,655,550 | 1,147,380 |
Principal payments on capital lease obligations | (151,983) | (49,732) | (22,928) |
Net cash provided by financing activities | 3,238,640 | 13,552,183 | 28,452,427 |
NET CHANGE IN CASH AND CASH EQUIVALENTS | (43,524) | (3,772) | (75,530) |
CASH AND CASH EQUIVALENTS, beginning of year | 218,925 | 222,697 | 298,227 |
CASH AND CASH EQUIVALENTS, end of year | 175,401 | 218,925 | 222,697 |
SUPPLEMENTAL CASH FLOW INFORMATION: | |||
Cash paid for interest expense | 21,738 | 6,920 | 7,095 |
Cash paid for income taxes | 0 | 0 | 0 |
SUPPLEMENTAL SCHEDULE OF NON-CASH ACTIVITIES: | |||
Purchases of leasehold improvements | 0 | 24,784 | 0 |
Purchase of equipment under capital lease (Note 6) | $ 153,550 | $ 66,398 | $ 0 |
The Company And Nature Of Busin
The Company And Nature Of Business | 12 Months Ended |
Dec. 31, 2015 | |
The Company And Nature Of Business [Abstract] | |
The Company And Nature Of Business | 1. THE COMPANY AND NATURE OF BUSINESS We were incorporated under the laws of the state of Florida on August 22, 1989 and currently operate in a single reportable segment - wireless technologies and products. We are in the business of innovating fundamental wireless technologies. We design, develop and market our proprietary radio frequency (“RF”) technologies and products for use in wireless communication products and applications . In addition, we offer engineering consulting and design services, for a negotiated fee, to assist customers in developing and testing prototypes and/or products incorporating wireless technologies. We believe certain patents protecting our proprietary technologies have been broadly infringed by others and therefore our business plan includes enforcement of our intellectual property rights through patent infringement litigation and licensing efforts. |
Liquidity And Going Concern
Liquidity And Going Concern | 12 Months Ended |
Dec. 31, 2015 | |
Liquidity And Going Concern [Abstract] | |
Liquidity and Going Concern | 2. LIQUIDITY AND GOING CONCERN The accompanying financial statements as of and for the year ended December 31, 2015 were prepared assuming we would continue as a going concern, which contemplates that we will continue in operation for the foreseeable future and will be able to realize assets and settle liabilities and commitments in the normal course of business. These financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classification of liabilities that could result should we be unable to continue as a going concern. We have incurred significant losses from operations and negative cash flows in every year since inception and have utilized the proceeds from the sales of our equity securities to fund our operations . For the year ended December 31, 2015, we incurred a net loss of approximately $17.1 million and negative cash flows from operations of approximately $11.7 million. At December 31, 2015, we had an accumulated deficit of approximately $330.7 million and our current liabilities exceeded our current assets by approximately $1.7 million. We implemented a number of measures in 2015 and 2016 to reduce our operating expenses and improve our liquidity position. In June 2015, we implemented a reduction in staff which resulted in a one-time charge of approximately $0.3 million to our operating expenses for termination benefits and a decrease in our annualized payroll costs of approximately $2.6 million. Also in June 2015, we entered into a fully contingent funding arrangement with outside counsel for our ongoing patent infringement litigation against Qualcomm, HTC and Samsung, thereby eliminating nearly all ongoing litigation fees and expenses in that case. In addition, during 2015, we began transitioning the majority of our patent prosecution and defense activities from outside to in-house counsel which is expected to significantly reduce our outside legal fees. In January 2016, we sold unregistered common stock to an accredited investor in a private placement transaction for $1 million (see Note 10). In February 2016, we converted approximately $0.8 million in accounts payable to a long-term note payable (see Note 16). In addition, in February and March 2016, we received an aggregate of $11 million in funding from a litigation funding party, $10 million of which is restricted for payment of legal fees and expenses in connection with patent-related proceedings, including the ITC action filed in December 2015. The remaining $1 million from the funding party is available for general working capital purposes (See Note 16). The funding party also has a first right to provide additional funds, including, specifically, the right to fund up to $2 million with respect to additional identified patent enforcement actions that might be taken by us Despite these reductions in our operating costs, our ability to meet our operating costs for 2016 is dependent upon our ability to (i) successfully negotiate licensing agreements for the use of our technologies by others and/or (ii) our ability to develop, market and sell existing and new products. We expect that revenue generated from patent enforcement actions, technology licenses and/or the sale of products in 2016 may not be sufficient to cover our operating expenses. In addition, revenues generated from patent-related activities will be subject to contingent payments to third-parties. In the event we do not generate sufficient revenues to cover our operational costs and contingent repayment obligations, we will be required to use available working capital. Our current capital resources are not sufficient to support our liquidity requirements through 2016 and additional cost containment measures, if implemented, may jeopardize our operations and future growth plans. These circumstances raise substantial doubt about our ability to continue to operate as a going concern. We expect to continue to invest in patent prosecution and enforcement, product development, and sales, marketing, and customer support for our technologies and products. The long-term continuation of our business plan is dependent upon the generation of sufficient revenues from our technologies and/or products to offset expenses and contingent payment obligations. In the event that we do not generate sufficient revenues, we will be required to obtain additional funding through public or private debt or equity financing or contingent fee arrangements and/or reduce operating costs. Failure to generate sufficient revenues, raise additional capital through debt or equity financings or contingent fee arrangements, and/or reduce operating costs could have a material adverse effect on our ability to meet our long-term liquidity needs and achieve our intended long-term business objectives. |
Summary Of Significant Accounti
Summary Of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2015 | |
Summary Of Significant Accounting Policies [Abstract] | |
Summary Of Significant Accounting Policies | 3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation Our financial statements are prepared in accordance with generally accepted accounting principles. Certain reclassifications have been made to prior period amounts to conform to the current period presentation. All references in these financial statements to number of shares of common stock, price per share and weighted average shares of common stock have been adjusted to reflect the one-for-ten reverse stock split that went into effect on March 30, 2016 (see Note 16) on a retroactive basis for all periods presented, unless otherwise noted. Use of Estimates in the Preparation of Financial Statements The preparation of financial statements in conformity with generally accepted accounting principles requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods. The more significant estimates made by us include the volatility, forfeiture rate and estimated lives of share-based awards used in the estimate of the fair market value of share-based compensation, the assessment of recoverability of long-lived assets, the amortization periods for intangible and long-lived assets, and the valuation allowance for deferred taxes. Actual results could differ from the estimates made. We periodically evaluate estimates used in the preparation of the financial statements for continued reasonableness. Appropriate adjustments, if any, to the estimates used are made prospectively based upon such periodic evaluation. Cash and Cash Equivalents We consider cash and cash equivalents to include cash on hand, interest-bearing deposits, overnight repurchase agreements and investments with original maturities of three months or less when purchased. Available - for - Sale Securities A vailable - for - sale securities are intended to be held for indefinite periods of time and are not intended to be held to maturity. These securities are recorded at fair value and any unrealized holding gains and losses, net of the related tax effect, are excluded from earnings and are reported as a separate component of accumulated other comprehensive loss until realized. The tax effect of our unrealized holding gains and losses is zero for each of the years ended December 31, 2015, 2014, and 2013 due to the existence of a full valuation allowance. Our available - for - sale securities at December 31, 201 5 and 201 4 consisted of mutual funds that invest primarily in short-term municipal securities with an average effective maturity of one year or less. All dividends and realized gains are recognized as other income as earned and immediately reinvested. The Company has determined that the fair value of its available - for - sale securities fall within Level 1 in the fair value hierarchy (See Note 1 5 ). Inventory Inventory is stated at the lower of standard cost or estimated net realizable value. Standard cost approximates actual cost as determined under the first-in, first-out method. We review our inventory for estimated obsolescence or unmarketable inventory and write down inventory for the difference between cost and estimated market value based upon assumptions about future demand. Future demand is affected by market conditions, technological obsolescence, new products and strategic plans, each of which is subject to change. Property and Equipment Property and equipment are stated at cost, less accumulated depreciation. Depreciation is determined using the straight-line method over the following estimated useful lives: Manufacturing and office equipment 5 -7 years Tooling 3 years Leasehold improvements Remaining life of lease Furniture and fixtures 7 years Computer equipment and software 3 -5 years The cost and accumulated depreciation of assets sold or retired are removed from their respective accounts, and any resulting net gain or loss is recognized in the accompanying statements of comprehensive loss. The carrying value of long-lived assets is reviewed on a regular basis for the existence of facts, both internally and externally, that may suggest impairment. Recoverability of assets to be held and used is measured by comparing the carrying amount of an asset to the estimated undiscounted future cash flows expected to be generated by the asset. If the carrying amount of the assets exceeds its estimated undiscounted future net cash flows, an impairment charge is recognized in the amount by which the carrying amount of the asset exceeds the fair value of the assets. Long-lived assets to be sold are classified as held for sale in the period in which there is an approved plan for sale of the assets within one year, and it is unlikely that the plan will be withdrawn or changed. Long-lived assets held for sale are recorded at the lower of their carrying amount or fair value less estimated costs to sell. Intangible Assets Patents, copyrights and other intangible assets are amortized using the straight-line method over their estimated period of benefit. We estimate the economic lives of our patents and copyrights to be fifteen to twenty years. We estimate the economic lives of other intangible assets, including licenses, based on estimated technological obsolescence, to be two to five years, which is generally shorter than the contractual lives. Management evaluates the recoverability of intangible assets periodically and takes into account events or circumstances that may warrant revised estimates of useful lives or that may indicate impairment exists. Accounting for Share-Based Compensation We have various share-based compensation programs which provide for equity awards including stock options, restricted stock units (“RSUs”) and restricted stock awards (“RSAs”). We calculate the fair value of employee share-based equity awards on the date of grant and recognize the calculated fair value, net of estimated forfeitures, as compensation expense over the requisite service periods of the related awards. We estimate the fair value of each equity award using the Black-Scholes option valuation model or the Monte Carlo simulation fair value model for awards that contain market conditions. These valuation models require the use of highly subjective assumptions and estimates including (i) how long employees will retain their stock options before exercising them, (ii) the volatility of our common stock price over the expected life of the equity award, and (iii) the rate at which equity awards will ultimately be forfeited by the recipients. Such estimates, and the basis for our conclusions regarding such estimates, are outlined in detail in Note 9 . Estimates of fair value are not intended to predict actual future events or the value ultimately realized by persons who receive equity awards. Revenue Recognition We recognize revenue when there is persuasive evidence of an arrangement, the amounts are fixed an d determinable, and the collecti bility of the resulting receivable is reasonably assured. Research and Development Expenses Research and development costs are expensed as incurred and include salaries and benefits, costs paid to third party contractors, prototype expenses, maintenance costs for software development tools, depreciation, amortization, and an allocated portion of facilities costs. Loss per Common Share Basic loss per common share is determined based on the weighted-average number of common shares outstanding during each year. Diluted loss per common share is the same as basic loss per common share as all potential common shares are excluded from the calculation, as their effect is anti-dilutive. Options and warrants to purchase 1,223,001 , 769,620 , and 888,873 shares of common stock were outstanding at December 31, 201 5 , 201 4 , and 201 3 , respectively. In addition, unvested RSUs representing 417 , 218,415 , and 188,238 shares of common stock were outstanding at December 31, 201 5 , 201 4 , and 201 3 , respectively. These options, warrants and RSUs were excluded from the computation of diluted loss per share as their effect would have been anti-dilutive. Leases Our facilities are leased under operating leases. For those leases that contain rent escalations or rent concessions, we record the total rent payable during the lease term on a straight-line basis over the term of the lease with the difference between the rents paid and the straight-line rent recorded as a deferred rent liability in the accompanying balance sheets. Income Taxes The provision for income taxes is based on loss before taxes as reported in the accompanying statements of comprehensive loss. Deferred tax assets and liabilities are recognized for the expected future tax consequences of events that have been included in the financial statements or tax returns. Deferred tax assets and liabilities are determined based on differences between the financial statement carrying amounts and the tax bases of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. Valuation allowances are established to reduce deferred tax assets when, based on available objective evidence, it is more likely than not that the benefit of such assets will not be realized. Our deferred tax assets exclude unrecognized tax benefits which do not meet a more-likely-than-not threshold for financial statement recognition for tax positions taken or expected to be taken in a tax return. We utilize the short-cut method for establishing the historical pool of windfall tax benefits related to employee share-based compensation. We do not recognize deferred tax assets with regard to the excess of tax over book stock compensation until the tax deductions actually reduce current taxes payable at which time the tax benefit would be recorded as an increase in additional paid-in-capital. Recent Accounting Pronouncements In November 2015, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2015-17, “ Income Taxes: Balance Sheet Classification of Deferred Taxes (Topic 740),” which simplifies the presentation of deferred income taxes by requiring that all deferred tax liabilities and assets be classified as noncurrent in the consolidated balance sheet. The amendments in this update are effective for interim and annual periods in fiscal years beginning after December 15, 2016 and may be applied either prospectively or retrospectively to all periods presented. Early adoption is permitted. We are currently evaluating the impact of adoption on our consolidated financial statements. We do not expect this standard to have a material impact on our reported results of operations or financial position. In July 2015, FASB issued ASU 2015-11, “Simplifying the Measurement of Inventory (Topic 330).” ASU 2015-11 simplifies the accounting for the valuation of all inventory not accounted for using the last-in, first-out method by prescribing inventory be valued at the lower of cost and net realizable value. ASU 2015-11 is effective for public companies' annual periods, including interim periods within those fiscal years, beginning after December 15, 2016 on a prospective basis. Early adoption is permitted. We do not expect the adoption of ASU 2015-11 to have a material effect on our financial position, results of operations or cash flows. In August 2014, FASB issued ASU 2014-15, “Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern, to provide guidance on management’s responsibility in evaluating whether there is substantial doubt about a company’s ability to continue as a going concern and to provide related footnote disclosures. ASU 2014-15 is effective for interim and annual periods beginning after December 15, 2016 and earlier adoption is permitted. We are currently assessing the impact of this update on future discussions of our liquidity position in our financial statements and have not early adopted ASU 2014-15. |
Inventories
Inventories | 12 Months Ended |
Dec. 31, 2015 | |
Inventories [Abstract] | |
Inventories | 4. INVENTORIES Inventories consisted of the following at December 31, 2015 and 2014: 2015 2014 Work-in-process $ 117,045 $ 66,468 Finished goods 43,731 0 Total inventories $ 160,776 $ 66,468 |
Prepaid Expenses And Other
Prepaid Expenses And Other | 12 Months Ended |
Dec. 31, 2015 | |
Prepaid Expenses And Other [Abstract] | |
Prepaid Expenses And Other | 5 . PREPAID EXPENSES AND OTHER Prepaid expenses and other current assets consisted of the following at December 31, 201 5 and 201 4 : 2015 2014 Prepaid insurance $ 116,755 $ 530,967 Other current assets 105,615 281,610 $ 222,370 $ 812,577 |
Property And Equipment, Net
Property And Equipment, Net | 12 Months Ended |
Dec. 31, 2015 | |
Property And Equipment, Net [Abstract] | |
Property And Equipment, Net | 6 . PROPERTY AND EQUIPMENT, NET Property and equipment, at cost, consisted of the following at December 31, 201 5 and 201 4 : 2015 2014 Equipment and software $ 8,269,840 $ 8,273,074 Tooling 93,890 224,000 Leasehold improvements 925,679 925,679 Furniture and fixtures 502,396 502,396 9,791,805 9,925,149 Less accumulated depreciation and amortization (9,346,262) (9,292,065) $ 445,543 $ 633,084 Depreciation expense related to property and equipment was $187,653 , $156,258 , and $174,444 in 2015, 2014, and 2013, respectively. The cost of our property and equipment includes office and engineering equipment purchased under capital lease agreements totaling $291,873 and $138,323 at December 31, 2015 and 2014, respectively. Depreciation expense includes depreciation related to capital leases of approximately $49,804 , $31,794 , and $28,748 for the periods ended December 31, 201 5, 2014 , and 201 3, respectively. Accumulated depreciation included accumulated depreciation related to capital leases as of December 31, 201 5 and 201 4 of $169,252 and $119,448 , respectively. Our capital leases have original terms of one to three year s with aggregate monthly payments of approximately $20,000 and an approximate annual implicit interest rate of 15.4% . The principal payments for these capital leases are reflected as cash outflows from financing activities in the accompanying statements of cash flows. |
Intangible Assets
Intangible Assets | 12 Months Ended |
Dec. 31, 2015 | |
Intangible Assets [Abstract] | |
Intangible Assets | 7 . INTANGIBLE ASSETS Intangible assets consisted of the following at December 31, 201 5 and 2014 : 2015 Gross Carrying Amount Accumulated Amortization Net Value Patents and copyrights $ 20,309,630 $ 12,734,697 $ 7,574,933 Prepaid licensing fees 574,000 574,000 0 $ 20,883,630 $ 13,308,697 $ 7,574,933 2014 Gross Carrying Amount Accumulated Amortization Net Value Patents and copyrights $ 19,616,477 $ 11,613,839 $ 8,002,638 Prepaid licensing fees 574,000 574,000 0 $ 20,190,477 $ 12,187,839 $ 8,002,638 Periodically, we evaluate the recoverability of our intangible assets and take into account events or circumstances that may warrant revised estimates of useful lives or that may indicate impairment exists (“Triggering Event”). Based on our cumulative net losses and negative cash flows from operations to date, we assess our working capital needs on an annual basis. This annual assessment of our working capital is considered to be a Triggering Event for purposes of evaluating the recoverability of our intangible assets. As a result of our evaluation s at December 31, 201 5 and 2014 , we determined that no impairment exists with regard to our intangible assets. Patent costs represent legal and filing costs incurred to obtain patents and trademarks for product concepts and methodologies that we have developed. Capitalized patent costs are amortized over the estimated lives of the related patents, ranging from fifteen to twenty years. Prepaid licensing fees represent costs incurred to obtain licenses for use of certain technologies in future products. Prepaid license fees are amortized over their estimated economic lives, generally two to five years. Amortization expense for t he years ended December 31, 2015 , 201 4 , and 201 3 is as follows: Amortization Expense Weighted average estimated life (in years) 2015 2014 2013 Patents and copyrights 17 $ 1,120,858 $ 1,216,703 $ 1,067,698 Prepaid licensing fees 2 0 6,548 10,000 Total amortization $ 1,120,858 $ 1,223,251 $ 1,077,698 Future estimated amortization expense for intangible assets that have remaining unamortized amounts as of December 31, 201 5 are as follows: 2016 $ 1,128,036 2017 1,124,954 2018 1,051,272 2019 820,527 2020 573,346 2021 and thereafter 2,876,798 Total $ 7,574,933 |
Income Taxes And Tax Status
Income Taxes And Tax Status | 12 Months Ended |
Dec. 31, 2015 | |
Income Taxes And Tax Status [Abstract] | |
Income Taxes And Tax Status | 8 . INCOME TAXES AND TAX STATUS Our net losses before income taxes for the years ended December 31, 2015, 2014, and 2013 are entirely from domestic operations. A reconciliation between the provision for income taxes and the expected tax benefit using the federal statutory rate of 34 % for the years ended December 31, 201 5 , 201 4 , and 201 3 is as follows: 2015 2014 2013 Tax benefit at statutory rate $ (5,805,502) (8,013,445) (9,476,580) State tax benefit (597,625) (824,913) (975,530) Increase in valuation allowance 6,482,062 8,870,098 10,648,966 Research and development credit (19,363) (186,906) (299,044) Other (59,572) 155,166 102,188 $ 0 $ 0 $ 0 Our deferred tax assets and liabilities relate to the following sources and differences be t ween financial accounting and the tax bases of our assets and liabilities at December 31, 201 5 and 201 4 : 2015 2014 Gross deferred tax assets: Net operating loss carry-forward $ 108,627,053 $ 102,317,929 Research and development credit 7,825,090 7,805,727 Stock compensation 3,477,737 3,364,997 Patents and other 1,999,975 1,904,532 Fixed assets 104,895 111,397 Accrued liabilities 47,713 81,987 Deferred rent 19,574 68,396 Deferred revenue 7,868 0 Capital loss carry-forward 7,466 7,241 Charitable contributions 11,250 9,375 Inventory 23,282 3,912 122,151,903 115,675,493 Less valuation allowance (122,151,903) (115,675,493) Net deferred tax asset $ 0 $ 0 No current or deferred tax provision or benefit was recorded for 201 5 , 201 4 , or 201 3 as a result of current losses and fully deferred tax valuation allowances for all periods. We have recorded a valuation allowance to state our deferred tax assets at their estimated net realizable value due to the uncertainty related to realization of these assets through future taxable income. At December 31, 2015, we had cumulative NOL, research and development (“R&D”) tax credit carry-forwards and capital loss carry-forwards for income tax purposes of $ 295,585,142 , $7,825,090 and $19,910 respectively, which expire in varying amounts from 2018 through 203 4 . The cumulative NOL carry-forward is net of $ 13,432,293 in carry-forwards from 1993 through 1997 which expired unused from 2008 through 2012. The NOL carry-forward for income tax purposes includes $ 2,260,692 related to windfall tax benefits from the exercise of share-based compensation awards for which benefit will be recognized as an adjustment to equity rather than a decrease in earnings if realized. The cumulative R&D tax credit carry-forward is net of $ 496,329 in credits from 1995 through 1997 that expired unused from 2010 through 2012. Our ability to benefit from the our tax credit carry-forwards could be limited under certain provisions of the Internal Revenue Code if our ownership changes by more than 50%, as defined by Section 382 of the Internal Revenue Code of 1986 (“Section 382”). Under Section 382, an ownership change may limit the amount of NOL, capital loss and R&D credit carry-forwards that can be used annually to offset future taxable income and tax, respectively. In general, an ownership change, as defined by Section 382, results from transactions increasing the ownership of certain shareholders or public groups in the stock of a corporation by more than 50 percentage points over a three-year period. We conduct a study annually of our ownership changes. Based on the results of our studies, we have determined that we do not have any ownership changes on or prior to December 31, 2015 which would result in limitations of our NOL, capital loss or R&D credit carry-forwards under Section 382. Uncertain Tax Positions We file income tax returns in the U.S. federal jurisdiction and various state jurisdictions. We have identified our Federal and Florida tax returns as our only major jurisdictions, as defined. The periods subject to examination for those returns are the 1998 through 201 5 tax years. At December 31, 201 5 , we had an unrecognized tax benefit of approximately $1.4 million. A reconciliation of the amount recorded for unrecognized tax benefits for the years ended December 31, 201 5 , 201 4 , and 201 3 is as follows: For the years ended December 31, 2015 2014 2013 Unrecognized tax benefits – beginning of year $ 1,369,614 1,369,614 1,369,614 Gross increases – tax positions in prior period 0 0 0 Change in Estimate 0 0 0 Unrecognized tax benefits – end of year $ 1,369,614 1,369,614 1,369,614 Future changes in the unrecognized tax benefit will have no impact on the effective tax rate so long as we maintain a full valuation allowance. Approximately $ 0.47 million, net of tax effect, of the unrecognized tax benefit is related to excess tax benefits related to share-based compensation which would be recorded as an adjustment to equity rather than a decrease in earnings, if reversed. Our policy is that we recognize interest and penalties accrued on any unrecognized tax benefits as a component of our income tax expense. We do not have any accrued interest or penalties associated with any unrecognized tax benefits. For the years ended December 31, 201 5 , 201 4 , and 201 3 , we did not incur any income tax-related interest income, expense or penalties. |
Share-Based Compensation
Share-Based Compensation | 12 Months Ended |
Dec. 31, 2015 | |
Share-Based Compensation [Abstract] | |
Share-Based Compensation | 9 . SHARE-BASED COMPENSATION We did not capitalize any expense related to share-based payments. The following table presents share-based compensation expense included in our statements of comprehensive loss for the years ended December 31, 201 5 , 201 4 , and 201 3 , respectively: Year ended December 31, 2015 2014 2013 Research and development expense $ 235,138 $ 1,076,655 $ 1,594,603 Sales and marketing expense 47,934 211,661 327,199 General and administrative expense 916,262 3,239,916 5,009,636 Total share-based expense $ 1,199,334 $ 4,528,232 $ 6,931,438 For the year ended December 31, 2015, total share based compensation expense included $97,811 representing the aggregate fair value of 24,821 shares withheld by us from the distribution of employee share-based compensation awards for payment of employee payroll taxes. As of December 31, 201 5 , there was $ 177,755 of total unrecognized compensation cost, net of estimated forfeitures, related to all non-vested share-based compensation awards. That cost is expected to be recognized over a weighted-average period of approximately 2 year s . Stock Incentive Plans 2000 Performance Equity Plan We adopted a performance equity plan in July 2000 (the “2000 Plan”). The 2000 Plan provided for the grant of options and other stock awards to employees, directors and consultants, not to exceed 500,000 shares of common stock. The 2000 Plan provided for benefits in the form of incentive and nonqualified stock options, stock appreciation rights, restricted share awards, stock bonuses and various stock benefits or cash. Upon shareholder approval of amendments to our 2011 Long-Term Incentive Equity Plan on June 17, 2014, the 2000 Plan was amended such that no further awards may be granted under this plan. 2008 Equity Incentive Plan We adopted an equity incentive plan in August 2008 (the “2008 Plan”). The 2008 Plan provides for the grant of stock-based awards to employees (excluding named executives), directors and consultants, not to exceed 50,000 shares of common stock. The 2008 Plan provides for benefits in the form of incentive stock options, nonqualified stock options, stock appreciation rights, restricted share awards, and other stock based awards. Forfeited and expired options under the 2008 Plan become available for reissuance. The plan provides that no participant may be granted awards in excess of 5,000 shares in any calendar year. At December 31, 201 5 , 994 shares of common stock were available for future grants. 2011 Long-Term Incentive Equity Plan We adopted a long-term incentive equity plan in September 2011 that provided for the grant of stock-based awards to employees, officers, directors and consultants, not to exceed 500,000 shares of common stock. On June 17, 2014, shareholders approved amendments to the September 2011 plan increasing the shares available in the plan by 700,000 shares and clarifying certain limitations on exchanges of outstanding awards (as amended, the “2011 Plan”). The 2011 Plan provides for benefits in the form of incentive stock options, nonqualified stock options, stock appreciation rights, restricted share awards, and other stock based awards. Forfeited and expired options under the 2011 Plan become available for reissuance. The plan provides that no participant may be granted awards in excess of 150,000 shares in any calendar year. At December 31, 2015, 536,949 shares of common stock were available for future grants. Restricted Stock Awards RSAs are issued as executive and employee incentive compensation and as payment for services to others. The value of the award is based on the closing price of our common stock on the date of grant. RSAs are generally immediately vested. Restricted Stock Units RSUs are issued as incentive compensation to executives, employees, and non-employee directors as well as payment for services to consultants. Each RSU represents a right to one share of our common stock, upon vesting. The RSUs are not entitled to voting rights or dividends, if any, until vested. RSUs generally vest over a three year period for employee awards, a one year period for non-employee director awards and the life of the related service contract for third-party awards. The fair value of RSUs is generally based on the closing price of our common stock on the date of grant and is amortized to share-based compensation expense over the estimated life of the award, generally the vesting period. In the case of RSUs issued to consultants, the fair value is recognized based on the closing price of our common stock on each vesting date. Plan-Based RSAs and RSU s The following table presents a summary of RSA and RSU activity under the 2000, 2008, and 2011 Plans (collectively, the “Stock Plans”) as of December 31, 2015 : Non-vested Shares Shares Weighted-Average Grant-Date Fair Value Non-vested at beginning of year 111,415 $ 25.40 Granted 53,741 3.10 Vested (157,922) 17.60 Forfeited (6,817) 28.30 Non-vested at end of year 417 $ 31.30 The total fair value of RSAs and RSUs vested under the Stock Plans for the year ended December 31, 201 5 is $ 558,603 . Non-Plan RSAs and RSUs RSAs and RSUs granted outside the Stock Plans represent awards issued as payment for services to consultants. The shares underlying these non-plan awards are unregistered. Non-vested Shares Shares Weighted-Average Grant-Date Fair Value Non-vested at beginning of year 107,000 $ 31.00 Granted 0 0 Vested (32,000) 12.40 Forfeited (75,000) 39.00 Non-vested at end of year 0 $ 0 Compensation cost related to the vesting of non-plan RSAs and RSUs was approximately $220,800 , $819,000 , and $1,912,000 for the year s ended December 31, 201 5 , 201 4 , and 201 3 respectively, and is included in general and administrative expense in the table of share-based compensation expense shown above. Non-plan RSAs and RSUs included 75,000 performance-based RSUs granted in November 2013 to consultants. These RSUs had vesting conditions based on achievement of certain market conditions, measured based on the closing price of our common stock during the term of the consulting agreements. The market conditions were not met and these RSUs expired, unvested on December 31, 2015. Stock Options and Warrants Stock options are issued as incentive compensation to executives, employees, and non-employee directors as well as payment for services to consultants. In addition, w e have granted warrants to investors in connection with securities offerings. Stock options and warrants are generally granted with exercise prices at or above fair market value of the underlying shares at the date of grant. Plan-Based Options Options for employees, including executives and non-employee directors, are generally granted under the Stock Plans. The following table presents a summary of option activity under the Stock Plans for the year ended December 31, 201 5 : Shares Weighted-Average Exercise Price Weighted-Average Remaining Contractual Term Aggregate Intrinsic Value ($) Outstanding at beginning of year 623,700 $ 22.30 Granted 60,000 1.80 Exercised 0 0 Forfeited 0 0 Expired (31,916) 73.30 Outstanding at end of year 651,784 17.90 3.39 years $ 31,500 Vested and expected to vest at end of year 582,112 $ 19.60 3.03 years $ 0 The weighted average per share fair value of option shares granted during the years ended December 31, 201 5 , 201 4 , and 201 3 was $1.32 , $11.30 , and $25.30 , respectively. The total fair value of option shares vested during the years ended December 31, 201 5 , 201 4 , and 201 3 was $482,652 , $3,069,131 , and $3,285,859 , respectively. The fair value of options granted under the Stock Plans is estimated using the Black-Scholes option pricing model. Generally, fair value is determined as of the grant date. In the case of option grants to third parties, the fair value is estimated at each interim reporting date until vested. The fair value of option grants under the Stock Plans for the years ended December 31, 201 5, 2014 , and 201 3 , respectively, was estimated using the Black-Scholes option-pricing model with the following assumptions: Year ended December 31, 2015 2014 2013 Expected option term 1 5 years 6 years 5 to 6 years Expected volatility factor 2 97.12% 106.40% 97.9% to 103.7% Risk-free interest rate 3 1.66% 1.90% 0.8% to 1.8% Expected annual dividend yield 0% 0% 0% 1 The expected term was generally determined based on historical activity for grants with similar terms and for similar groups of employees and represents the period of time that options are expected to be outstanding. For employee options, groups of employees with similar historical exercise behavior are considered separately for valuation purposes. For consultants, the expected term was determined based on the contractual life of the award. 2 The stock volatility for each grant is measured using the weighted average of historical daily price changes of our common stock over the most recent period equal to the expected option life of the grant. 3 The risk-free interest rate for periods equal to the expected term of the share option is based on the U.S. Treasury yield curve in effect at the measurement date. The aggregate intrinsic value of plan-based options exercised during 201 5 , 201 4 , and 201 3 was $0 , $1,081,495 , and $648,433 , respectively. Non-Plan Options and Warrants Options and warrants granted outside the Stock Plans represent options issued as payment for services to consultants and warrants issued in connection with offerings of securities. As of December 31, 201 5 , all outstanding non-plan options and warrants have been registered by us on a registration statement. The following table presents a summary of non-plan option and warrant activity for the year ended December 31, 201 5 : Shares Weighted-Average Exercise Price Weighted-Average Remaining Contractual Term Aggregate Intrinsic Value ($) Outstanding at beginning of year 145,920 $ 6.00 Granted 565,217 25.00 Exercised 0 0 Forfeited 0 0 Expired (139,920) 5.40 Outstanding at end of year 571,217 25.00 2.04 years $ 0 Vested and expected to vest at end of year 571,217 $ 25.00 2.04 years $ 0 The aggregate fair value of non-plan options and warrants vested during the years ended December 31, 201 5 , 201 4 , and 201 3 was $1,300,000 , $ 0 , and $129,192 , respectively. Non-plan options and warrants outstanding at December 31, 201 5 include warrants issued in January 2015 to 1624 PV, LLC (“1624”) for a purchase price of $1,300,000, which is considered the best measure of the warrants’ fair value (see Note 10). The fair value of these warrants as of December 31, 201 5 is included in shareholders’ equity in the accompanying balance sheets. The aggregate intrinsic value of non-plan options and warrants exercised during 2015, 2014, and 2013, was $0 , $1,793,694 , and $3,038,635 , respectively. Options and Warrants by Price Range The options and warrants outstanding at December 31, 201 5 under all plans, including the non-plan options and warrants, have exercise price ranges, weighted average contractual lives, and weighted average exercise prices are as follows: Options and Warrants Outstanding Options and Warrants Vested Range of Exercise Prices Number Outstanding at December 31, 2015 Wtd. Avg. Exercise Price Wtd. Avg. Remaining Contractual Life Number Exercisable at December 31, 2015 Wtd. Avg. Exercise Price Wtd. Avg. Remaining Contractual Life $1.80 - $5.80 70,079 $ 2.40 6.04 10,079 $ 5.80 1.02 $6.10 - $10.30 228,605 8.90 2.73 228,605 8.90 2.73 $11.80 - $20.10 244,581 14.80 2.54 237,081 14.80 2.51 $22.60 - $35.00 665,058 29.30 2.48 663,511 29.30 2.48 $36.40 - $45.10 14,678 42.70 3.94 14,053 42.80 3.91 1,223,001 $ 21.20 2.76 1,153,329 $ 22.20 2.54 Upon exercise of options and warrants under all plans, we issue new shares of our common stock. For shares issued upon exercise of warrants or equity awards granted under the Stock Plans, the shares of common stock are registered. For shares issued upon exercise of non-plan RSU or option awards, the shares are not registered unless they have been subsequently registered by us on a registration statement. Cash received from option and warrant exercises for the years ended December 31, 201 5 , 201 4 , and 201 3, was $0 , $1,655,550 , and $1,147,380 respectively. No tax benefit was realized for the tax deductions from exercise of the share-based payment arrangements for the years ended December 31, 201 5 , 201 4 , and 201 3 as the benefits were fully offset by a valuation allowance (see Note 8 ) . |
Stock Authorization And Issuanc
Stock Authorization And Issuance | 12 Months Ended |
Dec. 31, 2015 | |
Stock Authorization And Issuance [Abstract] | |
Stock Authorization And Issuance | 10 . STOCK AUTHORIZATION AND ISSUANCE Preferred Stock We have 15,000,000 shares of preferred stock authorized for issuance at the direction of the board of directors. As of December 31, 201 5 , we had no outstanding preferred stock. On November 17, 2005, our board of directors designated 100,000 shares of authorized preferred stock as the Series E Preferred Stock in conjunction with its adoption of a Shareholder Protection Rights Agreement (Note 1 1). Common Stock and Warrants The following table presents a summary of completed equity offerings for the years ended December 31, 201 5 , 201 4 , and 201 3 (in thousands, except for per share amounts): Date Transaction # of Common Shares/ Units Sold (in 000’s) Price per Share/Unit # of Warrants Issued (in 000’s) Average Exercise Price per Warrant Net Proceeds (in 000’s) (1) Offering as % of Out-standing Common Stock (2) December 23, 2015 Offering to a limited number of institutional and other investors 1,086 $1.90 n/a n/a $2,040 9.9% December 23, 2015 Offering to a member of our Board 21 $2.40 n/a n/a $50 0.20% January 15, 2015 Sale of warrants (3) n/a n/a 565 $25.003 $1,300 n/a March 13, 2014 Offering to two institutional investors 267 $45.00 n/a n/a $11,900 2.80% August 6, 2013 Offering to a limited number of institutional and other investors 368 $38.00 n/a n/a $13,000 4.00% March 26, 2013 Underwritten offering 472 $32.50 n/a n/a $14,300 5.40% (1) After deduction of applicable underwriters’ discounts, placement agent fees, and other offering costs. (2) Calculated on an after-issued basis. (3) We sold 3 warrants to 1624, each for the purchase of up to 188,406 shares of our common stock at exercise prices of $15.00 , $25.00 and $35.00 , respectively. The warrants expire three years from the date of issuance. In addition, in January 2015, we issued 25,000 shares of unregistered common stock to our securities counsel, Graubard Miller in exchange for a $250,000 prepaid retainer for legal services. The shares issued to Graubard Miller and the shares underlying the warrants issued to 1624 were registered March 6, 2015 and registration became effective May 4, 2015. (File number 333-202802). We filed a registration statement on January 12, 2016 to register the resale of the common stock issued in the December 23, 2015 offering to institutional and other investors. The registration statement became effective on January 19, 2016 (File No. 333-208958). In the event the registration statement ceases to be effective for any continuous period that exceeds 10 consecutive calendar days or more than an aggregate of fifteen calendar days during any 12-month period or any time during the six-month anniversary of the registration date (a “Registration Default”), we shall pay the investors an amount in cash equal to 1% of the aggregate purchase price paid for each 30-day period of a Registration Default. The maximum penalty that we may incur under this arrangement is 10% per Registration Default event, or an aggregate maximum of 30% of the aggregate purchase price or approximately $619,000 , subject to reduction for shares sold or transferred and not held at the penalty determination date. We do not believe that payment under the registration payment arrangement is probable and therefore no related liability has been recorded in the accompanying financial statements. On January 25, 2016, we sold 454,546 shares of our common stock at a price of $2.20 per share to an accredited investor in a private placement transaction generating gross proceeds of approximately $1,000,000 . We have no registration obligations with respect to these shares. On February 25, 2016, we issued warrants for the purchase of up to 250,000 shares of our common stock in connection with a litigation funding arrangement (see Note 16 ). These warrants have an exercise price of $3.50 per share, are exercisable for five years from the date of issuance, and have piggy-back registration rights of the underlying warrant shares. |
Shareholder Protection Rights A
Shareholder Protection Rights Agreement | 12 Months Ended |
Dec. 31, 2015 | |
Shareholder Protection Rights Agreement [Abstract] | |
Shareholder Protection Rights Agreement | 1 1 . SHAREHOLDER PROTECTION RIGHTS AGREEMENT On November 20, 2015, we amended our Shareholder Protection Rights Agreement (“Rights Agreement”) dated November 21, 2005. The amendment extends the expiration date of the Rights Agreement from November 21, 2015 to November 20, 2020 and decreases the exercise price of the rights to $1 4.50 after giving effect to the one-for-ten reverse stock split that became effective March 30, 2016. The Rights Agreement provided for the issuance, on November 29, 2005, as a dividend, rights to acquire fractional shares of Series E Preferred Stock. We did not assign any value to the dividend as the value of these rights is not believed to be objectively determinable. The principal objective of the Rights Agreement is to cause someone interested in acquiring us to neg otiate with our board of d irectors (the “Board”) rather than launch an unsolicited or hostile bid. The Rights Agreement subjects a potential acquirer to substantial voting and economic dilution. Each share of common s tock issued by ParkerVision will include an attached right. The rights initially are not exercisable and trade with the common s tock of ParkerVision. In the future, the rights may become exchangeable for shares of Series E Preferred Stock with various provisions that may discourage a takeover bid. Additionally, the rights have what are known as “flip-in” and “flip-over” provisions that could make any acquisition of us more costly to the potential acquirer. Th e rights may separate from the common s tock following the acquisition of 15 % or more of the outstanding shares of common st ock by an acquiring person. Upon separation, the holder of the rights may exercise their right at an exercise price of $ 14.50 per right (the “Exercise Price”), subject to adjustment and payable in cash. Upon payment of the E xercise P rice, the holder of the right will receive fr om us that number of shares of common s tock having an aggregate market price equal to twice the Exercise Price, as adjusted. The Rights Agreement also has a flip over provision allowing the holder to purchase that number of shares of common/voting equity of a successor entity, if we are not the surviving corporation in a business combination, at an aggregate market price equal to twice the Exercise Price. We have the right to substitute for any of our shares of common s tock that we are obligated to issue, shares of Series E Preferred Stock at a ratio of one ten-thousandth of a share of Series E Pre ferred Stock for each share of common s tock. The Series E Preferred Stock, if and when issued, will have quarterly cumulative dividend rights payable when and as declared by the Board , liquidation, dissolution and winding up preferences, voting rights and will rank junior to other securities of ParkerVision unless otherwise determined by the Board . The rights may be redeemed upon approval of the Board a redemption price of $ 0.01 . |
Commitments And Contingencies
Commitments And Contingencies | 12 Months Ended |
Dec. 31, 2015 | |
Commitments And Contingencies [Abstract] | |
Commitments And Contingencies | 1 2 . COMMITMENTS AND CONTINGENCIES Lease Commitments Our headquarters facility in Jacksonville, Florida is leased pursuant to a non-cancelable lease agreement effective June 1, 2006. The lease term, as amended in September 2014, provides for a straight-lined monthly rental payment of approximately $ 26,000 through January 2018 with an option for renewal. We also lease office space in Lake Mary, Florida for our wireless design center. The lease term, as amended in December 2013 provides for a straight-lined monthly rental payment of approximately $ 18,500 through May 2017 with an option for renewal. Deferred rent is amortized to rent expense over the respective lease term. I n addition to sales tax payable on base rental amounts, certain leases obligate us to pay pro-rated annual operating expenses for the properties. Rent expense for properties, for the years ended December 31, 201 5 , 201 4 , and 201 3 was $545,334 , $523,454 , and $476,782 , respectively. In addition, we lease certain equipment, primarily for research and development activities, under non-cancelable operating leases with lease terms of less than one year. Equipment rental expense for the years ended December 31, 201 5 , 201 4 , and 201 3 was $62,853 , $191,527 , and $235,370 , respectively. Contractual Obligations Future minimum lease payments under all non-cancelable operating leases and capital leases that have initial or remaining terms in excess of one year as of December 31, 201 5 were as follows: Contractual obligations: 2016 2017 2018 Total Operating leases $ 587,500 428,400 $ 14,200 $ 1,030,100 Capital leases $ 53,800 $ 300 $ 0 $ 54,100 Legal Proceedings From time to time, we are subject to legal proceedings and claims which arise in the ordinary course of our business. These proceedings include patent enforcement actions initiated by us against others for the infringement of our technologies, as well as proceedings brought by others against us at the Patent Trial and Appeal Board of the U.S. Patent and Trademark Office (“PTAB”) in an attempt to invalidate certain of our patent claims. These patent-related proceedings are more fully described below. We believe, based on advice from our outside legal counsel, that the final disposition of these matters will not have a material adverse impact on our financial position, results of operation or liquidity. ParkerVision vs. Qualcomm, Inc. On July 20, 2011, we filed a patent infringement action in the United States District Court of the Middle District of Florida (the “Middle District of Florida”) against Qualcomm Incorporated (“Qualcomm”) seeking damages and injunctive relief for infringement of several of our patents related to radio-frequency receivers and the down-conversion of electromagnetic signals (the “Qualcomm I Action”). Qualcomm filed a counterclaim against us alleging invalidity and unenforceability of each of our patents. In October 2013, a jury found that all of Qualcomm’s accused products directly and indirectly infringed all eleven claims of the four patents asserted by us and awarded us $172.7 million in damages. The jury also found that Qualcomm did not prove its claims of invalidity for any of the eleven claims of the four patents in the case, and furthermore found that we did not prove our claims of willfulness, which would have allowed enhancement of the jury-awarded damages. On June 20, 2014, a final district court ruling was issued in which the court overturned the jury’s verdict of infringement thus nullifying the damages award. We appealed this decision to the U.S. Court of Appeals for the Federal Circuit (“CAFC”) and Qualcomm filed a counter-appeal on the issues of validity and damages. On July 31, 2015, the appellate court upheld the district court’s determination of non-infringement and overturned the district court’s decision on validity, ruling that ten of the eleven patent claims in the case were invalid. On October 2, 2015, the CAFC denied our petition for a rehearing with respect to infringement of the one claim that was not invalidated by the CAFC (“Claim 27 of the ‘518 Patent”). On February 29, 2016 we filed a petition with the Supreme Court of the United States (“Supreme Court”) in this matter. On March 28, 2016 the Supreme Court denied our petition requesting a review of the appellate court’s decision. ParkerVision vs. Qualcomm, HTC, and Samsung On May 1, 2014, we filed a complaint in the Middle District of Florida against Qualcomm, Qualcomm Atheros, Inc., and HTC (HTC Corporation and HTC America, Inc) (the “Qualcomm II Action”) seeking unspecified damages and injunctive relief for infringement of seven of our patents related to RF up-conversion, systems for control of multi-mode, multi-band communications, baseband innovations including control and system calibration, and wireless protocol conversion. On August 21, 2014, we amended our complaint adding Samsung (Samsung Electronics Co., Ltd., Samsung Electronics America, Inc., and Samsung Telecommunications America, LLC ) as a defendant. We also added infringement claims of four additional patents to this case. On November 17, 2014, certain of the defendants filed counterclaims of non-infringement and invalidity for all patents in the case. A claim construction hearing was held on August 12, 2015 but no ruling on claim construction has been issued by the court. In January 2016, the court granted the parties’ joint motion to dismiss claims and counterclaims related to six patents in the case in order to narrow the scope of the litigation. In February, 2016, the court granted the parties’ joint motion to stay these proceedings until resolution of the proceedings at the ITC as discussed below. RPX and Farmwald vs. ParkerVision In mid-2014, RPX Corporation and Michael Farmwald (collectively, the “Petitioners”) filed petitions for Inter Partes review (“IPR”) with the PTAB seeking to invalidate eleven claims included in the four patents in our Qualcomm I Action, as well as a number of additional claims related to those same four patents. In December 2014, the PTAB issued a decision to institute trial on three of the four petitions which included nine of the eleven claims in the Qualcomm I Action and excluded Claim 27 of the ‘518 Patent. In January 2015, the PTAB denied institution of trial for the fourth petition which included one of the eleven claims in the Qualcomm I Action. As a result of the appellate court’s decision in July 2015 invalidating ten of the eleven claims in the Qualcomm I Action, we determined not to pursue defense of the remaining claims under the three outstanding IPRs. On October 22, 2015, the PTAB dismissed these three cases. Qualcomm Inc. and Qualcomm Atheros, Inc. vs. ParkerVision On August 27, 2015, Qualcomm, Inc. and Qualcomm Atheros, Inc. filed an aggregate of ten petitions for IPR with the PTAB seeking to invalidate certain claims related to three of the eleven patents originally asserted in our Qualcomm II Action. We filed preliminary responses to these petitions in December 2015. In March 2016, the PTAB issued decisions denying institution of trial for three of the petitions, all of which relate to our U.S. patent 7,039,372 (“the ‘372 Patent”) and instituting trial for the remaining petitions, all of which relate to our U.S. patent 6,091,940 (the ‘940 Patent”) and U.S. patent 7,966,012 (“the ‘012 Patent”). The ‘372 Patent and the ‘940 Patent are among the patents asserted in the Qualcomm II Action. Our responses to the petitions that were instituted for trial are due in May 2016 and replies from Qualcomm are due in August 2016 . ParkerVision v. Apple, LG, Samsung and Qualcomm On December 15, 2015, we filed a complaint with the United Stated International Trade Commission (“ITC”) against Apple, Inc., LG (LG Electronics, Inc., LG Electronics U.S.A., Inc., and LG Electronics MobileComm U.S.A., Inc.), Samsung (Samsung Electronics Co., Ltd., Samsung Electronics America, Inc., and Samsung Semiconductor, Inc.) and Qualcomm alleging that these companies have engaged in unfair trade practices by unlawfully importing into the U.S. and selling various products that infringe four of our patents. We also requested that the ITC bar the defendants from continuing to import and sell infringing products in the U.S. We filed a corresponding patent infringement complaint in the Middle District of Florida against these same defendants alleging infringement of four of our patents. In January 2016, the ITC instituted an investigation based on our complaint. In February 2016, the district court proceedings were stayed pending resolution of the proceedings at the ITC. The ITC hearing is currently scheduled for August 2016. |
Related Party Transactions
Related Party Transactions | 12 Months Ended |
Dec. 31, 2015 | |
Related Party Transactions [Abstract] | |
Related Party Transaction | 13 . RELATED-PARTY TRANSACTIONS We paid approximately $428,000 , $1,705,000 , and $587,000 in 2015, 2014, and 2013, respectively, for patent-related legal services to the law firm of Sterne, Kessler, Goldstein & Fox, PLLC (“SKGF”), of which Robert Sterne, one of our directors since September 2006, is a partner. At December 31, 2015, we had approximately $1,164,000 in unpaid fees to SKGF, primarily related to defense of our patents under IPR (see Note 12 for a discussion of IPR proceedings). In February 2016, we paid approximately $339,000 of these outstanding fees and entered into an agreement with SKGF to convert the remaining $825,000 to an unsecured note payable (see Note 16) . On December 23, 2015, Mr. Papken Der Torossian, one of our directors since June 2003, purchased 20,833 shares of our common stock in an unregistered sale of equity securities at a purchase price of $2.40 per share. Wellington Management Group, LLP (“Wellington”) it its capacity as investment advisor, under the rules of NASDAQ, was deemed to be the beneficial owner of 214,850 shares of our common stock purchased by accredited investors on December 23, 2015 at a price of $1.90 per share. Wellington was deemed to be beneficial owner of more than 5% of our outstanding stock at the time of the transactions . |
Concentrations Of Credit Risk
Concentrations Of Credit Risk | 12 Months Ended |
Dec. 31, 2015 | |
Concentrations Of Credit Risk [Abstract] | |
Concentration Of Credit Risk | 14 . CONCENTRATIONS OF CREDIT RISK Financial instruments that potentially subject us to a concentration of credit risk principally consist of cash and cash equivalents and our available for sale securities. Cash and cash equivalents are primarily held in bank accounts and overnight investments. At times our cash balances on deposit with banks may exceed the balance insured by the F.D.I.C. Our available - for - sale securities are held in accounts with brokerage institutions and consist of mutual funds invested primarily in short-term municipal securities. We maintain our investments with what management believes to be quality financial institutions and while we limit the amount of credit exposure to any one institution, we could be subject to credit risks from concentration of investments in a single fund as well as credit risks arising from adverse conditions in the financial markets as a whole. |
Fair Value Measurements
Fair Value Measurements | 12 Months Ended |
Dec. 31, 2015 | |
Fair Value Measurements [Abstract] | |
Fair Value Measurements | 15 . FAIR VALUE MEASUREMENTS We have determined the estimated fair value amounts of our financial instruments using available market information. Our assets that are measured at fair value on a recurring basis included in our balance sheet at December 31, 201 5 and 201 4 are: Fair Value Measurements Total Quoted Prices in Active Markets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) December 31, 2015: Available-for-sale securities: Municipal bond mutual funds $ 1,789,947 $ 1,789,947 $ 0 $ 0 December 31, 2014: Available-for-sale securities: Municipal bond mutual funds $ 10,985,000 $ 10,985,000 $ 0 $ 0 |
Subsequent Events
Subsequent Events | 12 Months Ended |
Dec. 31, 2015 | |
Subsequent Events [Abstract] | |
Subsequent Events | 1 6 . SUBSEQUENT EVENT S Promissory Note On February 19, 2016, we converted $825,000 of fees payable to a related party into an unsecured, long-term promissory note. Interest is payable monthly on the outstanding principal balance at a rate of 8% per annum and retroactive to January 1, 2016. The balance of the note is payable in full, along with any accrued interest, on December 31, 2017 and early prepayment is allowed without penalty. Litigation Funding Agreement On February 25, 2016, we entered into a litigation funding agreement with Brickell Key Investments LP, (“BKI”), a special purpose fund under the management of Juridica Asset Management Limited. Under the agreement, we received $10 million from BKI in February 2016 to be used to pay our legal fees and expenses in connection with the legal proceedings filed against Apple, LG, Samsung and Qualcomm in December 2015 (the “Funded Actions”). These funds are maintained in a separate account by us and are restricted for specific use. In March 2016, we received an additional $1 million in unrestricted funds from BKI to be used for general working capital purposes, including transaction costs. We will reimburse and compensate BKI from gross proceeds resulting from the Funded Actions and/or gross proceeds from other patent enforcement actions and patent-related monetization activities. BKI is entitled to priority payment of 100% of proceeds from all patent-related actions until such time that BKI has been repaid in full. After repayment of the funded amount, BKI is entitled to a portion of remaining proceeds up to a specified minimum return which is determined as a percentage of the funded amount. In addition, BKI is entitled to a pro rata portion of proceeds solely from the Funded Actions to the extent the Funded Action proceeds exceed the specified minimum return . We granted BKI a senior security interest in our assets until such time as the specified minimum return is paid, in which case, the security interest will be released except with respect to the patents and proceeds directly related to Funded Actions. The security interest is enforceable by BKI in the event that we are in default under the agreement which would occur if (i) we fail, after notice, to pay proceeds to BKI, (ii) we become insolvent or insolvency proceedings are commenced (and not subsequently discharged) with respect to us, (iii) our creditors commence actions against us (which are not subsequently discharged) that affect our material assets, (iv) we, without BKI ’s consent, incur indebtedness other than immaterial ordinary course indebtedness, or (v) there is an uncured non-compliance of our obligations or misrepresentations under the agreement. We also granted BKI a first right to provide additional funds on substantially similar terms as provided for in the agreement, including, specifically, the right to fund up to $2 million with respect to additional identified patent enforcement actions that may be taken by us. In connection with the agreement, we issued BKI a warrant to purchase up to 250,000 shares of our common stock at an exercise price of $3.50 per share (see Note 10). We are currently evaluating the accounting treatment and financial statement impact of the BKI transactions. Reverse Stock Split On March 24, 2016, we filed an amendment to our articles of incorporation that effected a one-for-ten reverse stock split of our common stock. The amendment was approved by our Board on March 23, 2016 and did not require the approval of our shareholders. The reverse stock split became effective at 5:00 pm Eastern time on March 29, 2016, and our common stock began trading on the NASDAQ capital market on a post-split basis at the open of business on March 30, 2016. As a result of the reverse stock split, every ten shares of our common stock was combined into one share of our common stock. No fractional shares of our common stock were issued in connection with the reverse stock split. Any fractional shares created as a result of the reverse stock split were rounded up to the next largest whole number. The par value and other terms of our common stock will not be affected by the reverse stock split. However, the number of shares of common stock that we are authorized to issue was proportionately reduced from 150,000,000 shares to 15,000,000 . |
Quarterly Financial Data
Quarterly Financial Data | 12 Months Ended |
Dec. 31, 2015 | |
Quarterly Financial Data [Abstract] | |
Quaterly Financial Data | 1 7 . QUARTERLY FINANCIAL DATA (UNAUDITED) The quarterly financial data presented below is in thousands except for per share data: For the three months ended March 31, 2015 June 30, 2015 September 30, 2015 December 31, 2015 Revenues $ 0 $ 0 $ 5 $ 6 Gross margin 0 0 0 (1) Net loss (5,776) (4,842) (3,136) (3,321) Basic and diluted net loss per common share $ (0.59) $ (0.50) $ (0.32) $ (0.33) For the three months ended March 31, 2014 June 30, 2014 September 30, 2014 December 31, 2014 Revenues $ 0 $ 0 $ 0 $ 0 Gross margin 0 0 0 0 Net loss (5,772) (5,841) (6,409) (5,547) Basic and diluted net loss per common share $ (0.61) $ (0.61) $ (0.66) $ (0.57) |
Schedule II - Valuation And Qua
Schedule II - Valuation And Qualifying Accounts | 12 Months Ended |
Dec. 31, 2015 | |
Valuation and Qualifying Accounts [Abstract] | |
Schedule II Valuation And Qualifying Accounts | SCHEDULE II PARKERVISION, INC. AND SUBSIDIARY VALUATION AND QUALIFYING ACCOUNTS 012 Valuation Allowance for Income Taxes Balance at Beginning of Year Provision Write-Offs Balance at End of Year Year ended December 31, 2013 98,006,927 10,648,966 (706,054) 107,949,839 Year ended December 31, 2014 107,949,839 8,870,098 (1,144,444) 115,675,493 Year ended December 31, 2015 115,675,493 6,482,062 (5,652) 122,151,903 |
Summary Of Significant Accoun27
Summary Of Significant Accounting Policies (Policy) | 12 Months Ended |
Dec. 31, 2015 | |
Summary Of Significant Accounting Policies [Abstract] | |
Basis of Presentation | Basis of Presentation Our financial statements are prepared in accordance with generally accepted accounting principles. Certain reclassifications have been made to prior period amounts to conform to the current period presentation. All references in these financial statements to number of shares of common stock, price per share and weighted average shares of common stock have been adjusted to reflect the one-for-ten reverse stock split that went into effect on March 30, 2016 (see Note 16) on a retroactive basis for all periods presented, unless otherwise noted. |
Use of Estimates in the Preparation of Financial Statements | Use of Estimates in the Preparation of Financial Statements The preparation of financial statements in conformity with generally accepted accounting principles requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods. The more significant estimates made by us include the volatility, forfeiture rate and estimated lives of share-based awards used in the estimate of the fair market value of share-based compensation, the assessment of recoverability of long-lived assets, the amortization periods for intangible and long-lived assets, and the valuation allowance for deferred taxes. Actual results could differ from the estimates made. We periodically evaluate estimates used in the preparation of the financial statements for continued reasonableness. Appropriate adjustments, if any, to the estimates used are made prospectively based upon such periodic evaluation. |
Cash and Cash Equivalents | Cash and Cash Equivalents We consider cash and cash equivalents to include cash on hand, interest-bearing deposits, overnight repurchase agreements and investments with original maturities of three months or less when purchased. |
Available for Sale Securities | Available - for - Sale Securities A vailable - for - sale securities are intended to be held for indefinite periods of time and are not intended to be held to maturity. These securities are recorded at fair value and any unrealized holding gains and losses, net of the related tax effect, are excluded from earnings and are reported as a separate component of accumulated other comprehensive loss until realized. The tax effect of our unrealized holding gains and losses is zero for each of the years ended December 31, 2015, 2014, and 2013 due to the existence of a full valuation allowance. Our available - for - sale securities at December 31, 201 5 and 201 4 consisted of mutual funds that invest primarily in short-term municipal securities with an average effective maturity of one year or less. All dividends and realized gains are recognized as other income as earned and immediately reinvested. The Company has determined that the fair value of its available - for - sale securities fall within Level 1 in the fair value hierarchy (See Note 1 5 ). |
Inventory | Inventory Inventory is stated at the lower of standard cost or estimated net realizable value. Standard cost approximates actual cost as determined under the first-in, first-out method. We review our inventory for estimated obsolescence or unmarketable inventory and write down inventory for the difference between cost and estimated market value based upon assumptions about future demand. Future demand is affected by market conditions, technological obsolescence, new products and strategic plans, each of which is subject to change. |
Property and Equipment | Property and Equipment Property and equipment are stated at cost, less accumulated depreciation. Depreciation is determined using the straight-line method over the following estimated useful lives: Manufacturing and office equipment 5 -7 years Tooling 3 years Leasehold improvements Remaining life of lease Furniture and fixtures 7 years Computer equipment and software 3 -5 years The cost and accumulated depreciation of assets sold or retired are removed from their respective accounts, and any resulting net gain or loss is recognized in the accompanying statements of comprehensive loss. The carrying value of long-lived assets is reviewed on a regular basis for the existence of facts, both internally and externally, that may suggest impairment. Recoverability of assets to be held and used is measured by comparing the carrying amount of an asset to the estimated undiscounted future cash flows expected to be generated by the asset. If the carrying amount of the assets exceeds its estimated undiscounted future net cash flows, an impairment charge is recognized in the amount by which the carrying amount of the asset exceeds the fair value of the assets. Long-lived assets to be sold are classified as held for sale in the period in which there is an approved plan for sale of the assets within one year, and it is unlikely that the plan will be withdrawn or changed. Long-lived assets held for sale are recorded at the lower of their carrying amount or fair value less estimated costs to sell. |
Intangible Assets | Intangible Assets Patents, copyrights and other intangible assets are amortized using the straight-line method over their estimated period of benefit. We estimate the economic lives of our patents and copyrights to be fifteen to twenty years. We estimate the economic lives of other intangible assets, including licenses, based on estimated technological obsolescence, to be two to five years, which is generally shorter than the contractual lives. Management evaluates the recoverability of intangible assets periodically and takes into account events or circumstances that may warrant revised estimates of useful lives or that may indicate impairment exists. |
Accounting for Share-Based Compensation | Accounting for Share-Based Compensation We have various share-based compensation programs which provide for equity awards including stock options, restricted stock units (“RSUs”) and restricted stock awards (“RSAs”). We calculate the fair value of employee share-based equity awards on the date of grant and recognize the calculated fair value, net of estimated forfeitures, as compensation expense over the requisite service periods of the related awards. We estimate the fair value of each equity award using the Black-Scholes option valuation model or the Monte Carlo simulation fair value model for awards that contain market conditions. These valuation models require the use of highly subjective assumptions and estimates including (i) how long employees will retain their stock options before exercising them, (ii) the volatility of our common stock price over the expected life of the equity award, and (iii) the rate at which equity awards will ultimately be forfeited by the recipients. Such estimates, and the basis for our conclusions regarding such estimates, are outlined in detail in Note 9 . Estimates of fair value are not intended to predict actual future events or the value ultimately realized by persons who receive equity awards. |
Revenue Recognition | Revenue Recognition We recognize revenue when there is persuasive evidence of an arrangement, the amounts are fixed an d determinable, and the collecti bility of the resulting receivable is reasonably assured. |
Research and Development Expenses | Research and Development Expenses Research and development costs are expensed as incurred and include salaries and benefits, costs paid to third party contractors, prototype expenses, maintenance costs for software development tools, depreciation, amortization, and an allocated portion of facilities costs. |
Loss per Common Share | Loss per Common Share Basic loss per common share is determined based on the weighted-average number of common shares outstanding during each year. Diluted loss per common share is the same as basic loss per common share as all potential common shares are excluded from the calculation, as their effect is anti-dilutive. Options and warrants to purchase 1,223,001 , 769,620 , and 888,873 shares of common stock were outstanding at December 31, 201 5 , 201 4 , and 201 3 , respectively. In addition, unvested RSUs representing 417 , 218,415 , and 188,238 shares of common stock were outstanding at December 31, 201 5 , 201 4 , and 201 3 , respectively. These options, warrants and RSUs were excluded from the computation of diluted loss per share as their effect would have been anti-dilutive. |
Leases | Leases Our facilities are leased under operating leases. For those leases that contain rent escalations or rent concessions, we record the total rent payable during the lease term on a straight-line basis over the term of the lease with the difference between the rents paid and the straight-line rent recorded as a deferred rent liability in the accompanying balance sheets. |
Income Taxes | Income Taxes The provision for income taxes is based on loss before taxes as reported in the accompanying statements of comprehensive loss. Deferred tax assets and liabilities are recognized for the expected future tax consequences of events that have been included in the financial statements or tax returns. Deferred tax assets and liabilities are determined based on differences between the financial statement carrying amounts and the tax bases of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. Valuation allowances are established to reduce deferred tax assets when, based on available objective evidence, it is more likely than not that the benefit of such assets will not be realized. Our deferred tax assets exclude unrecognized tax benefits which do not meet a more-likely-than-not threshold for financial statement recognition for tax positions taken or expected to be taken in a tax return. We utilize the short-cut method for establishing the historical pool of windfall tax benefits related to employee share-based compensation. We do not recognize deferred tax assets with regard to the excess of tax over book stock compensation until the tax deductions actually reduce current taxes payable at which time the tax benefit would be recorded as an increase in additional paid-in-capital. |
Recent Accounting Pronouncements | Recent Accounting Pronouncements In November 2015, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2015-17, “ Income Taxes: Balance Sheet Classification of Deferred Taxes (Topic 740),” which simplifies the presentation of deferred income taxes by requiring that all deferred tax liabilities and assets be classified as noncurrent in the consolidated balance sheet. The amendments in this update are effective for interim and annual periods in fiscal years beginning after December 15, 2016 and may be applied either prospectively or retrospectively to all periods presented. Early adoption is permitted. We are currently evaluating the impact of adoption on our consolidated financial statements. We do not expect this standard to have a material impact on our reported results of operations or financial position. In July 2015, FASB issued ASU 2015-11, “Simplifying the Measurement of Inventory (Topic 330).” ASU 2015-11 simplifies the accounting for the valuation of all inventory not accounted for using the last-in, first-out method by prescribing inventory be valued at the lower of cost and net realizable value. ASU 2015-11 is effective for public companies' annual periods, including interim periods within those fiscal years, beginning after December 15, 2016 on a prospective basis. Early adoption is permitted. We do not expect the adoption of ASU 2015-11 to have a material effect on our financial position, results of operations or cash flows. In August 2014, FASB issued ASU 2014-15, “Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern, to provide guidance on management’s responsibility in evaluating whether there is substantial doubt about a company’s ability to continue as a going concern and to provide related footnote disclosures. ASU 2014-15 is effective for interim and annual periods beginning after December 15, 2016 and earlier adoption is permitted. We are currently assessing the impact of this update on future discussions of our liquidity position in our financial statements and have not early adopted ASU 2014-15. |
Summary Of Significant Accoun28
Summary Of Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Summary Of Significant Accounting Policies [Abstract] | |
Schedule Of Property And Equipment Useful Lives | Manufacturing and office equipment 5 -7 years Tooling 3 years Leasehold improvements Remaining life of lease Furniture and fixtures 7 years Computer equipment and software 3 -5 years |
Inventories (Tables)
Inventories (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Inventories [Abstract] | |
Schedule Of Inventories | 2015 2014 Work-in-process $ 117,045 $ 66,468 Finished goods 43,731 0 Total inventories $ 160,776 $ 66,468 |
Prepaid Expenses And Other (Tab
Prepaid Expenses And Other (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Prepaid Expenses And Other [Abstract] | |
Schedule Of Prepaid Expenses And Other Current Assets | 2015 2014 Prepaid insurance $ 116,755 $ 530,967 Other current assets 105,615 281,610 $ 222,370 $ 812,577 |
Property And Equipment, Net (Ta
Property And Equipment, Net (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Property And Equipment, Net [Abstract] | |
Schedule Of Property And Equipment, Net | 2015 2014 Equipment and software $ 8,269,840 $ 8,273,074 Tooling 93,890 224,000 Leasehold improvements 925,679 925,679 Furniture and fixtures 502,396 502,396 9,791,805 9,925,149 Less accumulated depreciation and amortization (9,346,262) (9,292,065) $ 445,543 $ 633,084 |
Intangible Assets (Tables)
Intangible Assets (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Intangible Assets [Abstract] | |
Schedule Of Intangible Assets | 2015 Gross Carrying Amount Accumulated Amortization Net Value Patents and copyrights $ 20,309,630 $ 12,734,697 $ 7,574,933 Prepaid licensing fees 574,000 574,000 0 $ 20,883,630 $ 13,308,697 $ 7,574,933 2014 Gross Carrying Amount Accumulated Amortization Net Value Patents and copyrights $ 19,616,477 $ 11,613,839 $ 8,002,638 Prepaid licensing fees 574,000 574,000 0 $ 20,190,477 $ 12,187,839 $ 8,002,638 |
Schedule Of Amortization Expense Recorded And Weighted Average Estimated Life | Amortization Expense Weighted average estimated life (in years) 2015 2014 2013 Patents and copyrights 17 $ 1,120,858 $ 1,216,703 $ 1,067,698 Prepaid licensing fees 2 0 6,548 10,000 Total amortization $ 1,120,858 $ 1,223,251 $ 1,077,698 |
Schedule Of Future Amortization Expense | 2016 $ 1,128,036 2017 1,124,954 2018 1,051,272 2019 820,527 2020 573,346 2021 and thereafter 2,876,798 Total $ 7,574,933 |
Income Taxes And Tax Status (Ta
Income Taxes And Tax Status (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Income Taxes And Tax Status [Abstract] | |
Schedule Of Effective Income Tax Rate Reconciliation | 2015 2014 2013 Tax benefit at statutory rate $ (5,805,502) (8,013,445) (9,476,580) State tax benefit (597,625) (824,913) (975,530) Increase in valuation allowance 6,482,062 8,870,098 10,648,966 Research and development credit (19,363) (186,906) (299,044) Other (59,572) 155,166 102,188 $ 0 $ 0 $ 0 |
Schedule Of Deferred Tax Assets And Liabilities | 2015 2014 Gross deferred tax assets: Net operating loss carry-forward $ 108,627,053 $ 102,317,929 Research and development credit 7,825,090 7,805,727 Stock compensation 3,477,737 3,364,997 Patents and other 1,999,975 1,904,532 Fixed assets 104,895 111,397 Accrued liabilities 47,713 81,987 Deferred rent 19,574 68,396 Deferred revenue 7,868 0 Capital loss carry-forward 7,466 7,241 Charitable contributions 11,250 9,375 Inventory 23,282 3,912 122,151,903 115,675,493 Less valuation allowance (122,151,903) (115,675,493) Net deferred tax asset $ 0 $ 0 |
Schedule Of Unrecognized Tax Benefits Roll Forward | For the years ended December 31, 2015 2014 2013 Unrecognized tax benefits – beginning of year $ 1,369,614 1,369,614 1,369,614 Gross increases – tax positions in prior period 0 0 0 Change in Estimate 0 0 0 Unrecognized tax benefits – end of year $ 1,369,614 1,369,614 1,369,614 |
Share-Based Compensation (Table
Share-Based Compensation (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Schedule Of Share-Based Compensation Expense Included In Statements Of Operations | Year ended December 31, 2015 2014 2013 Research and development expense $ 235,138 $ 1,076,655 $ 1,594,603 Sales and marketing expense 47,934 211,661 327,199 General and administrative expense 916,262 3,239,916 5,009,636 Total share-based expense $ 1,199,334 $ 4,528,232 $ 6,931,438 |
Stock Options [Member] | Plan Based [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Summary Of Options Activity | Shares Weighted-Average Exercise Price Weighted-Average Remaining Contractual Term Aggregate Intrinsic Value ($) Outstanding at beginning of year 623,700 $ 22.30 Granted 60,000 1.80 Exercised 0 0 Forfeited 0 0 Expired (31,916) 73.30 Outstanding at end of year 651,784 17.90 3.39 years $ 31,500 Vested and expected to vest at end of year 582,112 $ 19.60 3.03 years $ 0 |
Summary Of Valuation Assumptions | Year ended December 31, 2015 2014 2013 Expected option term 1 5 years 6 years 5 to 6 years Expected volatility factor 2 97.12% 106.40% 97.9% to 103.7% Risk-free interest rate 3 1.66% 1.90% 0.8% to 1.8% Expected annual dividend yield 0% 0% 0% 1 The expected term was generally determined based on historical activity for grants with similar terms and for similar groups of employees and represents the period of time that options are expected to be outstanding. For employee options, groups of employees with similar historical exercise behavior are considered separately for valuation purposes. For consultants, the expected term was determined based on the contractual life of the award. 2 The stock volatility for each grant is measured using the weighted average of historical daily price changes of our common stock over the most recent period equal to the expected option life of the grant. 3 The risk-free interest rate for periods equal to the expected term of the share option is based on the U.S. Treasury yield curve in effect at the measurement date. |
Restricted Stock Award And Restricted Stock Unit [Member] | Plan Based [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Summary Of Restricted Stock Activity | Non-vested Shares Shares Weighted-Average Grant-Date Fair Value Non-vested at beginning of year 111,415 $ 25.40 Granted 53,741 3.10 Vested (157,922) 17.60 Forfeited (6,817) 28.30 Non-vested at end of year 417 $ 31.30 |
Restricted Stock Award And Restricted Stock Unit [Member] | Non Plan [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Summary Of Restricted Stock Activity | Non-vested Shares Shares Weighted-Average Grant-Date Fair Value Non-vested at beginning of year 107,000 $ 31.00 Granted 0 0 Vested (32,000) 12.40 Forfeited (75,000) 39.00 Non-vested at end of year 0 $ 0 |
Warrants Outstanding [Member] | Non Plan [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Summary Of Non-Plan Options And Warrants | Shares Weighted-Average Exercise Price Weighted-Average Remaining Contractual Term Aggregate Intrinsic Value ($) Outstanding at beginning of year 145,920 $ 6.00 Granted 565,217 25.00 Exercised 0 0 Forfeited 0 0 Expired (139,920) 5.40 Outstanding at end of year 571,217 25.00 2.04 years $ 0 Vested and expected to vest at end of year 571,217 $ 25.00 2.04 years $ 0 |
Warrants And Options [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Summary Of Options And Warrants By Exercise Price Range | Options and Warrants Outstanding Options and Warrants Vested Range of Exercise Prices Number Outstanding at December 31, 2015 Wtd. Avg. Exercise Price Wtd. Avg. Remaining Contractual Life Number Exercisable at December 31, 2015 Wtd. Avg. Exercise Price Wtd. Avg. Remaining Contractual Life $1.80 - $5.80 70,079 $ 2.40 6.04 10,079 $ 5.80 1.02 $6.10 - $10.30 228,605 8.90 2.73 228,605 8.90 2.73 $11.80 - $20.10 244,581 14.80 2.54 237,081 14.80 2.51 $22.60 - $35.00 665,058 29.30 2.48 663,511 29.30 2.48 $36.40 - $45.10 14,678 42.70 3.94 14,053 42.80 3.91 1,223,001 $ 21.20 2.76 1,153,329 $ 22.20 2.54 |
Stock Authorization And Issua35
Stock Authorization And Issuance (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Stock Authorization And Issuance [Abstract] | |
Summary Of Equity Offerings | Date Transaction # of Common Shares/ Units Sold (in 000’s) Price per Share/Unit # of Warrants Issued (in 000’s) Average Exercise Price per Warrant Net Proceeds (in 000’s) (1) Offering as % of Out-standing Common Stock (2) December 23, 2015 Offering to a limited number of institutional and other investors 1,086 $1.90 n/a n/a $2,040 9.9% December 23, 2015 Offering to a member of our Board 21 $2.40 n/a n/a $50 0.20% January 15, 2015 Sale of warrants (3) n/a n/a 565 $25.003 $1,300 n/a March 13, 2014 Offering to two institutional investors 267 $45.00 n/a n/a $11,900 2.80% August 6, 2013 Offering to a limited number of institutional and other investors 368 $38.00 n/a n/a $13,000 4.00% March 26, 2013 Underwritten offering 472 $32.50 n/a n/a $14,300 5.40% (1) After deduction of applicable underwriters’ discounts, placement agent fees, and other offering costs. (2) Calculated on an after-issued basis. (3) We sold 3 warrants to 1624, each for the purchase of up to 188,406 shares of our common stock at exercise prices of $15.00 , $25.00 and $35.00 , respectively. The warrants expire three years from the date of issuance. |
Commitments And Contingencies (
Commitments And Contingencies (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Commitments And Contingencies [Abstract] | |
Schedule Of Future Minimum Lease Payments For Capital Leases | Contractual obligations: 2016 2017 2018 Total Operating leases $ 587,500 428,400 $ 14,200 $ 1,030,100 Capital leases $ 53,800 $ 300 $ 0 $ 54,100 |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Fair Value Measurements [Abstract] | |
Schedule Of Assets Measured At Fair Value On A Recurring Basis | Fair Value Measurements Total Quoted Prices in Active Markets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) December 31, 2015: Available-for-sale securities: Municipal bond mutual funds $ 1,789,947 $ 1,789,947 $ 0 $ 0 December 31, 2014: Available-for-sale securities: Municipal bond mutual funds $ 10,985,000 $ 10,985,000 $ 0 $ 0 |
Quarterly Financial Data (Table
Quarterly Financial Data (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Quarterly Financial Data [Abstract] | |
Schedule Of Quarterly Financial Data | The quarterly financial data presented below is in thousands except for per share data: For the three months ended March 31, 2015 June 30, 2015 September 30, 2015 December 31, 2015 Revenues $ 0 $ 0 $ 5 $ 6 Gross margin 0 0 0 (1) Net loss (5,776) (4,842) (3,136) (3,321) Basic and diluted net loss per common share $ (0.59) $ (0.50) $ (0.32) $ (0.33) For the three months ended March 31, 2014 June 30, 2014 September 30, 2014 December 31, 2014 Revenues $ 0 $ 0 $ 0 $ 0 Gross margin 0 0 0 0 Net loss (5,772) (5,841) (6,409) (5,547) Basic and diluted net loss per common share $ (0.61) $ (0.61) $ (0.66) $ (0.57) |
Liquidity And Going Concern (De
Liquidity And Going Concern (Details) - USD ($) | Jan. 25, 2016 | Jun. 30, 2015 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2016 | Feb. 25, 2016 | Feb. 19, 2016 |
Liquidity And Working Capital [Line Items] | ||||||||||||||||
Net loss | $ (3,321,000) | $ (3,136,000) | $ (4,842,000) | $ (5,776,000) | $ (5,547,000) | $ (6,409,000) | $ (5,841,000) | $ (5,772,000) | $ (17,075,007) | $ (23,568,955) | $ (27,872,293) | |||||
Net cash used in operating activities | (11,721,234) | (18,455,065) | $ (18,861,413) | |||||||||||||
Accumulated deficit | $ (330,654,670) | $ (313,579,663) | (330,654,670) | $ (313,579,663) | ||||||||||||
Current liability amount exceeding assets | $ 1,700,000 | |||||||||||||||
Severance costs incurred | $ 300,000 | |||||||||||||||
Decrease of payroll costs | $ 2,600,000 | |||||||||||||||
Subsequent Event [Member] | ||||||||||||||||
Liquidity And Working Capital [Line Items] | ||||||||||||||||
Notes payable | $ 825,000 | |||||||||||||||
Proceeds from issurance of common stock in private placement | $ 1,000,000 | |||||||||||||||
Subsequent Event [Member] | ParkerVision vs. Apple, LG, Samsung And Qualcomm [Member] | ||||||||||||||||
Liquidity And Working Capital [Line Items] | ||||||||||||||||
Litigation funds | $ 11,000,000 | $ 10,000,000 | ||||||||||||||
Maximum additional funds related to patent enforcement actions | $ 2,000,000 |
Summary Of Significant Accoun40
Summary Of Significant Accounting Policies (Narrative) (Details) | Mar. 30, 2016 | Dec. 31, 2015USD ($)shares | Dec. 31, 2014USD ($)shares | Dec. 31, 2013USD ($)shares |
Significant Accounting Policies [Line Items] | ||||
Available-for-sale Securities, gross unrealized gain | $ | $ 0 | $ 0 | $ 0 | |
Options and warrants outstanding | 1,223,001 | 769,620 | 888,873 | |
Subsequent Event [Member] | ||||
Significant Accounting Policies [Line Items] | ||||
Post reserve split ratio | 0.1 | |||
Patents And Copyrights [Member] | ||||
Significant Accounting Policies [Line Items] | ||||
Intangible assets, useful life | 17 years | |||
Patents And Copyrights [Member] | Minimum [Member] | ||||
Significant Accounting Policies [Line Items] | ||||
Intangible assets, useful life | 15 years | |||
Patents And Copyrights [Member] | Maximum [Member] | ||||
Significant Accounting Policies [Line Items] | ||||
Intangible assets, useful life | 20 years | |||
Prepaid Licensing Fees [Member] | ||||
Significant Accounting Policies [Line Items] | ||||
Intangible assets, useful life | 2 years | |||
Prepaid Licensing Fees [Member] | Minimum [Member] | ||||
Significant Accounting Policies [Line Items] | ||||
Intangible assets, useful life | 2 years | |||
Prepaid Licensing Fees [Member] | Maximum [Member] | ||||
Significant Accounting Policies [Line Items] | ||||
Intangible assets, useful life | 5 years | |||
Restricted Stock Units (RSUs) [Member] | ||||
Significant Accounting Policies [Line Items] | ||||
Unvested, Shares | 417 | 218,415 | 188,238 |
Summary Of Significant Accoun41
Summary Of Significant Accounting Policies (Schedule Of Property And Equipment Useful Lives) (Details) | 12 Months Ended |
Dec. 31, 2015 | |
Tooling [Member] | |
Property, Plant and Equipment [Line Items] | |
Useful life | 3 years |
Leasehold Improvements [Member] | |
Property, Plant and Equipment [Line Items] | |
Useful life | Remaining life of lease |
Furniture And Fixtures [Member] | |
Property, Plant and Equipment [Line Items] | |
Useful life | 7 years |
Maximum [Member] | Manufacturing And Office Equipment [Member] | |
Property, Plant and Equipment [Line Items] | |
Useful life | 7 years |
Maximum [Member] | Equipment And Software [Member] | |
Property, Plant and Equipment [Line Items] | |
Useful life | 5 years |
Minimum [Member] | Manufacturing And Office Equipment [Member] | |
Property, Plant and Equipment [Line Items] | |
Useful life | 5 years |
Minimum [Member] | Equipment And Software [Member] | |
Property, Plant and Equipment [Line Items] | |
Useful life | 3 years |
Inventories (Details)
Inventories (Details) - USD ($) | Dec. 31, 2015 | Dec. 31, 2014 |
Inventories [Abstract] | ||
Work-in-process | $ 117,045 | $ 66,468 |
Finished goods | 43,731 | 0 |
Total inventories | $ 160,776 | $ 66,468 |
Prepaid Expenses And Other (Det
Prepaid Expenses And Other (Details) - USD ($) | Dec. 31, 2015 | Dec. 31, 2014 |
Prepaid Expenses And Other [Abstract] | ||
Prepaid Insurance | $ 116,755 | $ 530,967 |
Other current assets | 105,615 | 281,610 |
Prepaid Expense and Other Assets, Current, Total | $ 222,370 | $ 812,577 |
Property And Equipment, Net (Na
Property And Equipment, Net (Narrative) (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Property, Plant and Equipment [Line Items] | |||
Depreciation | $ 187,653 | $ 156,258 | $ 174,444 |
Capital lease depreciation expense | 49,804 | 31,794 | 28,748 |
Accumulated depreciation related to caplital leases | $ 169,252 | 119,448 | |
Capital lease interest rate | 15.40% | ||
Capital lease obligation | $ 153,550 | 66,398 | $ 0 |
Monthly payments | 20,000 | ||
Office And Engineering Equipment [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Capital lease obligation | $ 291,873 | $ 138,323 |
Property And Equipment, Net (Sc
Property And Equipment, Net (Schedule Of Property And Equipment, Net) (Details) - USD ($) | Dec. 31, 2015 | Dec. 31, 2014 |
Property, Plant and Equipment [Line Items] | ||
Property and equipment | $ 9,791,805 | $ 9,925,149 |
Less accumualted depreciation and amortization | (9,346,262) | (9,292,065) |
Property, Plant and Equipment, Net, Total | 445,543 | 633,084 |
Equipment And Software [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment | 8,269,840 | 8,273,074 |
Tooling [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment | 93,890 | 224,000 |
Leasehold Improvements [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment | 925,679 | 925,679 |
Furniture And Fixtures [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment | $ 502,396 | $ 502,396 |
Intangible Assets (Narrative) (
Intangible Assets (Narrative) (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Finite-Lived Intangible Assets [Line Items] | ||
Impairment of intangible assets | $ 0 | $ 0 |
Prepaid Licensing Fees [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Intangible assets, useful life | 2 years | |
Minimum [Member] | Patents [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Intangible assets, useful life | 15 years | |
Minimum [Member] | Prepaid Licensing Fees [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Intangible assets, useful life | 2 years | |
Maximum [Member] | Patents [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Intangible assets, useful life | 20 years | |
Maximum [Member] | Prepaid Licensing Fees [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Intangible assets, useful life | 5 years |
Intangible Assets (Schedule Of
Intangible Assets (Schedule Of Intangible Assets) (Details) - USD ($) | Dec. 31, 2015 | Dec. 31, 2014 |
Finite-Lived Intangible Assets [Line Items] | ||
Gross Carrying Amount | $ 20,883,630 | $ 20,190,477 |
Accumulated Amortization | 13,308,697 | 12,187,839 |
Net Value | 7,574,933 | 8,002,638 |
Patents And Copyrights [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Gross Carrying Amount | 20,309,630 | 19,616,477 |
Accumulated Amortization | 12,734,697 | 11,613,839 |
Net Value | 7,574,933 | 8,002,638 |
Prepaid Licensing Fees [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Gross Carrying Amount | 574,000 | 574,000 |
Accumulated Amortization | 574,000 | 574,000 |
Net Value | $ 0 | $ 0 |
Intangible Assets (Schedule O48
Intangible Assets (Schedule Of Amortization Expense Recorded And Weighted Average Estimated Life) (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Finite-Lived Intangible Assets [Line Items] | |||
Amortization expense | $ 1,120,858 | $ 1,223,251 | $ 1,077,698 |
Patents And Copyrights [Member] | |||
Finite-Lived Intangible Assets [Line Items] | |||
Amortization expense | $ 1,120,858 | 1,216,703 | 1,067,698 |
Weighted average estimated life (in years) | 17 years | ||
Prepaid Licensing Fees [Member] | |||
Finite-Lived Intangible Assets [Line Items] | |||
Amortization expense | $ 0 | $ 6,548 | $ 10,000 |
Weighted average estimated life (in years) | 2 years |
Intangible Assets (Schedule O49
Intangible Assets (Schedule Of Future Amortization Expense) (Details) - USD ($) | Dec. 31, 2015 | Dec. 31, 2014 |
Intangible Assets [Abstract] | ||
2,016 | $ 1,128,036 | |
2,017 | 1,124,954 | |
2,018 | 1,051,272 | |
2,019 | 820,527 | |
2,020 | 573,346 | |
2021 and thereafter | 2,876,798 | |
Net Value | $ 7,574,933 | $ 8,002,638 |
Income Taxes And Tax Status (Na
Income Taxes And Tax Status (Narrative) (Details) - USD ($) | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 1997 |
Tax Credit Carryforward [Line Items] | |||||
Operating loss carryforwards | $ 295,585,142 | $ 13,432,293 | |||
Unrecognized tax benefits | 1,369,614 | $ 1,369,614 | $ 1,369,614 | $ 1,369,614 | |
Unrecognized tax benefit, excess tax benefits from share based compensation | 470,000 | ||||
Windfall Tax Benefit [Member] | |||||
Tax Credit Carryforward [Line Items] | |||||
Operating loss carryforwards | 2,260,692 | ||||
Research Tax Credit Carryforward [Member] | |||||
Tax Credit Carryforward [Line Items] | |||||
Tax credit carryforward, Amount | 7,825,090 | $ 496,329 | |||
Capital Loss Carryforward [Member] | |||||
Tax Credit Carryforward [Line Items] | |||||
Tax credit carryforward, Amount | $ 19,910 |
Income Taxes And Tax Status (Sc
Income Taxes And Tax Status (Schedule of Effective Income Tax Rate Reconciliation) (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Income Taxes And Tax Status [Abstract] | |||
Tax benefit at statutory rate | $ (5,805,502) | $ (8,013,445) | $ (9,476,580) |
State tax benefit | (597,625) | (824,913) | (975,530) |
Increase in valuation allowance | 6,482,062 | 8,870,098 | 10,648,966 |
Research and development credit | (19,363) | (186,906) | (299,044) |
Other | (59,572) | 155,166 | 102,188 |
Income Tax Expense (Benefit), Total | $ 0 | $ 0 | $ 0 |
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate | 34.00% | 34.00% | 34.00% |
Income Taxes And Tax Status (52
Income Taxes And Tax Status (Schedule of Deferred Tax Assets And Liabilities) (Details) - USD ($) | Dec. 31, 2015 | Dec. 31, 2014 |
Income Taxes And Tax Status [Abstract] | ||
Net operating loss carry-forward | $ 108,627,053 | $ 102,317,929 |
Research and development credit | 7,825,090 | 7,805,727 |
Stock compensation | 3,477,737 | 3,364,997 |
Patents and other | 1,999,975 | 1,904,532 |
Fixed assets | 104,895 | 111,397 |
Accrued liabilities | 47,713 | 81,987 |
Deferred rent | 19,574 | 68,396 |
Deferred revenue | 7,868 | 0 |
Capital loss carry-forward | 7,466 | 7,241 |
Charitable contributions | 11,250 | 9,375 |
Inventory | 23,282 | 3,912 |
Deferred tax assets, gross | 122,151,903 | 115,675,493 |
Less valuation allowance | (122,151,903) | (115,675,493) |
Net deferred tax asset | $ 0 | $ 0 |
Income Taxes And Tax Status (53
Income Taxes And Tax Status (Schedule of Unrecognized Tax Benefits Roll Forward) (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Income Taxes And Tax Status [Abstract] | |||
Unrecognized tax benefits, beginning of year | $ 1,369,614 | $ 1,369,614 | $ 1,369,614 |
Gross increases - tax positions in prior period | 0 | 0 | 0 |
Change in Estimate | 0 | 0 | 0 |
Unrecognized tax benefits, end of year | $ 1,369,614 | $ 1,369,614 | $ 1,369,614 |
Share-Based Compensation (Narra
Share-Based Compensation (Narrative) (Details) - USD ($) | Jun. 17, 2014 | Nov. 30, 2013 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Unrecognized compensation cost, net of estimated forfeitures | $ 177,755 | ||||
Expected weighted average period to recognize the compensation cost, in years | 2 years | ||||
Net proceeds | $ 0 | $ 1,655,550 | $ 1,147,380 | ||
2008 Equity Incentive Plan [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Number of shares authorized | 50,000 | ||||
Number of shares available for grant | 994 | ||||
Maximum number of shares per employee | 5,000 | ||||
2000 Performance Equity Plan [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Number of shares authorized | 500,000 | ||||
2011 Long Term Incentive Equity Plan [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Number of shares authorized | 500,000 | ||||
Additional number of shares authorized | 700,000 | ||||
Number of shares available for grant | 536,949 | ||||
Maximum number of shares per employee | 150,000 | ||||
Employee Payroll Taxes [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Shared-based expense withheld for payment of payroll taxes | $ 97,811 | ||||
Shares withheld from the distribution of employee share-based compensation awards | 24,821 | ||||
Restricted Stock Award And Restricted Stock Unit [Member] | Plan Based [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Granted, Shares | 53,741 | ||||
Number of shares vested | 157,922 | ||||
Vested fair value | $ 558,603 | ||||
Restricted Stock Award And Restricted Stock Unit [Member] | Non Plan [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Granted, Shares | 75,000 | ||||
Restricted Stock Units (RSUs) [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Vesting period | 3 years | ||||
Restricted Stock Units (RSUs) [Member] | Non Plan [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Granted, Shares | 0 | ||||
Number of shares vested | 32,000 | ||||
Stock Options [Member] | Plan Based [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Weighted average fair value of option shares granted | $ 1.32 | $ 11.30 | $ 25.30 | ||
Fair market value of vested shares | $ 482,652 | $ 3,069,131 | $ 3,285,859 | ||
Intrinsic value of options exercised | 0 | 1,081,495 | 648,433 | ||
Warrants Outstanding [Member] | Non Plan [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Fair market value of vested shares | 1,300,000 | 0 | 129,192 | ||
Intrinsic value of options exercised | 0 | 1,793,694 | 3,038,635 | ||
Warrants And Options [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Net proceeds | 0 | 1,655,550 | 1,147,380 | ||
Tax benefit realized | 0 | 0 | 0 | ||
Warrants And Options [Member] | Non Plan [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Fair market value of vested shares | 1,300,000 | ||||
Consultants [Member] | Restricted Stock Units (RSUs) [Member] | Non Plan [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Total share-based expense | $ 220,800 | $ 819,000 | $ 1,912,000 | ||
Non Employee [Member] | Restricted Stock Units (RSUs) [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Vesting period | 1 year |
Share-Based Compensation (Sched
Share-Based Compensation (Schedule Of Share-Based Compensation Expense Included In Statements Of Operations) (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | |||
Total share-based expense | $ 1,199,334 | $ 4,528,232 | $ 6,931,438 |
Research And Development Expense [Member] | |||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | |||
Total share-based expense | 235,138 | 1,076,655 | 1,594,603 |
Sales And Marketing Expense [Member] | |||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | |||
Total share-based expense | 47,934 | 211,661 | 327,199 |
General And Administrative Expense [Member] | |||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | |||
Total share-based expense | $ 916,262 | $ 3,239,916 | $ 5,009,636 |
Share-Based Compensation (Summa
Share-Based Compensation (Summary Of RSU Activity) (Details) - $ / shares | 1 Months Ended | 12 Months Ended |
Nov. 30, 2013 | Dec. 31, 2015 | |
Restricted Stock Units (RSUs) [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Non-vested at beginning of year, Shares | 218,415 | |
Non-vested at end of year, Shares | 417 | |
Plan Based [Member] | Restricted Stock Award And Restricted Stock Unit [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Non-vested at beginning of year, Shares | 111,415 | |
Granted, Shares | 53,741 | |
Vested, Shares | (157,922) | |
Forfeited, Shares | (6,817) | |
Non-vested at end of year, Shares | 417 | |
Non-vested at beginning of year, Weighted-Average Grant-Date Fair Value | $ 25.40 | |
Granted, Weighted Average Grant Date Fair Value | 3.10 | |
Vested, Weighted Average Grant Date Fair Value | 17.60 | |
Forfeited, Weighted Average Grant Date Fair Value | 28.30 | |
Non-vested at end of year, Weighted-Average Grant-Date Fair Value | $ 31.30 | |
Non Plan [Member] | Restricted Stock Award And Restricted Stock Unit [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Granted, Shares | 75,000 | |
Non Plan [Member] | Restricted Stock Units (RSUs) [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Non-vested at beginning of year, Shares | 107,000 | |
Granted, Shares | 0 | |
Vested, Shares | (32,000) | |
Forfeited, Shares | (75,000) | |
Non-vested at end of year, Shares | 0 | |
Non-vested at beginning of year, Weighted-Average Grant-Date Fair Value | $ 31 | |
Granted, Weighted Average Grant Date Fair Value | 0 | |
Vested, Weighted Average Grant Date Fair Value | 12.40 | |
Forfeited, Weighted Average Grant Date Fair Value | 39 | |
Non-vested at end of year, Weighted-Average Grant-Date Fair Value | $ 0 |
Share-Based Compensation (Sum57
Share-Based Compensation (Summary Of Option Activity) (Details) | 12 Months Ended |
Dec. 31, 2015USD ($)$ / sharesshares | |
Plan Based [Member] | Stock Options [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Outstanding, Shares, Beginning of year | shares | 623,700 |
Granted, Shares | shares | 60,000 |
Exercised, Shares | shares | 0 |
Forfeited, Shares | shares | 0 |
Expired, Shares | shares | (31,916) |
Outstanding, Shares, End of year | shares | 651,784 |
Outstanding, Weighted Average Exercise Price, Beginning of year | $ / shares | $ 22.30 |
Granted, Weighted Average Exercise Price | $ / shares | 1.80 |
Exercised, Weighted Average Exercise Price | $ / shares | 0 |
Forfeited, Weighted Average Exercise Price | $ / shares | 0 |
Expired, Weighted Average Exercise Price | $ / shares | 73.30 |
Outstanding, Weighted Average Exercise Price, End of year | $ / shares | $ 17.90 |
Outstanding, Weighted Average Remaining Contractual Term | 3 years 4 months 21 days |
Outstanding, Aggregate Intrinsic Value | $ | $ 31,500 |
Vested and expected to vest at end of year, shares | shares | 582,112 |
Vested and expected to vest at end of year, weighted average exercise price | $ / shares | $ 19.60 |
Vested and expected to vest at end of year, weighted average remaining contractual term | 3 years 11 days |
Vested and expected to vest at end of year, aggregate intrinsic value | $ | $ 0 |
Non Plan [Member] | Warrants Outstanding [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Outstanding, Shares, Beginning of year | shares | 145,920 |
Granted, Shares | shares | 565,217 |
Exercised, Shares | shares | 0 |
Forfeited, Shares | shares | 0 |
Expired, Shares | shares | (139,920) |
Outstanding, Shares, End of year | shares | 571,217 |
Outstanding, Weighted Average Exercise Price, Beginning of year | $ / shares | $ 6 |
Granted, Weighted Average Exercise Price | $ / shares | 25 |
Exercised, Weighted Average Exercise Price | $ / shares | 0 |
Forfeited, Weighted Average Exercise Price | $ / shares | 0 |
Expired, Weighted Average Exercise Price | $ / shares | 5.40 |
Outstanding, Weighted Average Exercise Price, End of year | $ / shares | $ 25 |
Outstanding, Weighted Average Remaining Contractual Term | 2 years 15 days |
Outstanding, Aggregate Intrinsic Value | $ | $ 0 |
Vested and expected to vest at end of year, shares | shares | 571,217 |
Vested and expected to vest at end of year, weighted average exercise price | $ / shares | $ 25 |
Vested and expected to vest at end of year, weighted average remaining contractual term | 2 years 15 days |
Vested and expected to vest at end of year, aggregate intrinsic value | $ | $ 0 |
Share-Based Compensation (Sum58
Share-Based Compensation (Summary Of Valuation Assumptions) (Details) - Plan Based [Member] - Stock Options [Member] | 12 Months Ended | |||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Expected option term | [1] | 5 years | 6 years | |
Expected volatility factor | 97.12% | 106.40% | ||
Risk-free interest rate | 1.66% | 1.90% | ||
Expected annual dividend yield | 0.00% | 0.00% | 0.00% | |
Minimum [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Expected option term | [1] | 5 years | ||
Expected volatility factor | [2] | 97.90% | ||
Risk-free interest rate | [3] | 0.80% | ||
Maximum [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Expected option term | [1] | 6 years | ||
Expected volatility factor | [2] | 103.70% | ||
Risk-free interest rate | [3] | 1.80% | ||
[1] | The expected term was generally determined based on historical activity for grants with similar terms and for similar groups of employees and represents the period of time that options are expected to be outstanding. For employee options, groups of employees with similar historical exercise behavior are considered separately for valuation purposes. For consultants, the expected term was determined based on the contractual life of the award. | |||
[2] | The stock volatility for each grant is measured using the weighted average of historical daily price changes of our common stock over the most recent period equal to the expected option life of the grant. | |||
[3] | The risk-free interest rate for periods equal to the expected term of the share option is based on the U.S. Treasury yield curve in effect at the measurement date. |
Share-Based Compensation (Sum59
Share-Based Compensation (Summary Of Options And Warrants By Exercise Price Range) (Details) - Warrants And Options [Member] | 12 Months Ended |
Dec. 31, 2015$ / sharesshares | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Options and Warrants Outstanding | shares | 1,223,001 |
Options and Warrants Outstanding, Wtd. Avg. Exercise Price | $ 21.20 |
Options and Warrants Outstanding, Wtd. Avg. Remaining Contractual Life | 2 years 9 months 4 days |
Options and Warrants Exercisable | shares | 1,153,329 |
Options exercise price | $ 22.20 |
Options and Warrants Exercisable, Wtd. Avg. Remaining Contractual Life | 2 years 6 months 15 days |
$1.80 - $5.80 [Member] | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Excercise price minimum | $ 1.80 |
Exercise price maximum | $ 5.80 |
Options and Warrants Outstanding | shares | 70,079 |
Options and Warrants Outstanding, Wtd. Avg. Exercise Price | $ 2.40 |
Options and Warrants Outstanding, Wtd. Avg. Remaining Contractual Life | 6 years 15 days |
Options and Warrants Exercisable | shares | 10,079 |
Options exercise price | $ 5.80 |
Options and Warrants Exercisable, Wtd. Avg. Remaining Contractual Life | 1 year 7 days |
$6.10 - $10.30 [Member] | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Excercise price minimum | $ 6.10 |
Exercise price maximum | $ 10.30 |
Options and Warrants Outstanding | shares | 228,605 |
Options and Warrants Outstanding, Wtd. Avg. Exercise Price | $ 8.90 |
Options and Warrants Outstanding, Wtd. Avg. Remaining Contractual Life | 2 years 8 months 23 days |
Options and Warrants Exercisable | shares | 228,605 |
Options exercise price | $ 8.90 |
Options and Warrants Exercisable, Wtd. Avg. Remaining Contractual Life | 2 years 8 months 23 days |
$11.80 - $20.10 [Member] | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Excercise price minimum | $ 11.80 |
Exercise price maximum | $ 20.10 |
Options and Warrants Outstanding | shares | 244,581 |
Options and Warrants Outstanding, Wtd. Avg. Exercise Price | $ 14.80 |
Options and Warrants Outstanding, Wtd. Avg. Remaining Contractual Life | 2 years 6 months 15 days |
Options and Warrants Exercisable | shares | 237,081 |
Options exercise price | $ 14.80 |
Options and Warrants Exercisable, Wtd. Avg. Remaining Contractual Life | 2 years 6 months 4 days |
$22.60 - $35.00 [Member] | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Excercise price minimum | $ 22.60 |
Exercise price maximum | $ 35 |
Options and Warrants Outstanding | shares | 665,058 |
Options and Warrants Outstanding, Wtd. Avg. Exercise Price | $ 29.30 |
Options and Warrants Outstanding, Wtd. Avg. Remaining Contractual Life | 2 years 5 months 23 days |
Options and Warrants Exercisable | shares | 663,511 |
Options exercise price | $ 29.30 |
Options and Warrants Exercisable, Wtd. Avg. Remaining Contractual Life | 2 years 5 months 23 days |
$36.40 - $45.10 [Member] | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Excercise price minimum | $ 36.40 |
Exercise price maximum | $ 45.10 |
Options and Warrants Outstanding | shares | 14,678 |
Options and Warrants Outstanding, Wtd. Avg. Exercise Price | $ 42.70 |
Options and Warrants Outstanding, Wtd. Avg. Remaining Contractual Life | 3 years 11 months 9 days |
Options and Warrants Exercisable | shares | 14,053 |
Options exercise price | $ 42.80 |
Options and Warrants Exercisable, Wtd. Avg. Remaining Contractual Life | 3 years 10 months 28 days |
Stock Authorization And Issua60
Stock Authorization And Issuance (Narrative) (Details) - USD ($) | Feb. 25, 2016 | Jan. 25, 2016 | Jan. 16, 2016 | Jan. 12, 2016 | Dec. 23, 2015 | Jan. 15, 2015 | Mar. 13, 2014 | Aug. 06, 2013 | Mar. 26, 2013 | Jan. 31, 2015 | Dec. 31, 2015 | Nov. 17, 2005 | |
Stock Authorization And Issuance [Line Items] | |||||||||||||
Preferred Stock, Shares authorized | 15,000,000 | ||||||||||||
Preferred Stock, Shares outstanding | 0 | ||||||||||||
Exercise price per warrant | [1] | $ 25 | |||||||||||
Proceeds from warrants exercised | [2] | $ 2,040,000 | $ 1,300,000 | $ 11,900,000 | $ 13,000,000 | $ 14,300,000 | |||||||
Issuance of stock to securities for legal services | 25,000 | ||||||||||||
Issuance of stocks for legal services | $ 250,000 | ||||||||||||
Registration default, maximum penalty amount | $ 619,000 | ||||||||||||
Common Stock Warrant [Member] | |||||||||||||
Stock Authorization And Issuance [Line Items] | |||||||||||||
Warrants expiration period | 3 years | ||||||||||||
Series E Preferred Stock [Member] | |||||||||||||
Stock Authorization And Issuance [Line Items] | |||||||||||||
Preferred Stock, Shares authorized | 100,000 | ||||||||||||
Subsequent Event [Member] | |||||||||||||
Stock Authorization And Issuance [Line Items] | |||||||||||||
Sale of common stock, number of shares | 454,546 | ||||||||||||
Sale of stock price per share | $ 2.20 | ||||||||||||
Proceeds from issurance of common stock in private placement | $ 1,000,000 | ||||||||||||
Percentage of aggregate purchase price paid of amount due to investor for each thirty day period of registration default | 1.00% | ||||||||||||
Registration default, maximum aggregate purchase price | 30.00% | ||||||||||||
Registration default, maximum penalty, percentage of aggregate purchase price | 10.00% | ||||||||||||
Warrants expiration period | 5 years | ||||||||||||
Subsequent Event [Member] | ParkerVision vs. Apple, LG, Samsung And Qualcomm [Member] | |||||||||||||
Stock Authorization And Issuance [Line Items] | |||||||||||||
Exercise price per warrant | $ 3.50 | ||||||||||||
Issuance of stocks for legal services | $ 250,000 | ||||||||||||
[1] | We sold 3 warrants to 1624, each for the purchase of up to 188,406 shares of our common stock at exercise prices of $15.00, $25.00 and $35.00, respectively. The warrants expire three years from the date of issuance. | ||||||||||||
[2] | After deduction of applicable underwriters' discounts, placement agent fees, and other offering costs. |
Stock Authorization And Issua61
Stock Authorization And Issuance (Summary Of Equity Offerings) (Details) | Dec. 23, 2015USD ($)$ / shares | Jan. 15, 2015USD ($)item$ / sharesshares | Mar. 13, 2014USD ($)$ / shares | Aug. 06, 2013USD ($)$ / shares | Mar. 26, 2013USD ($)$ / shares | Dec. 31, 2015USD ($) | Dec. 31, 2014USD ($) | Dec. 31, 2013USD ($) | |
Equity Offerings [Line Items] | |||||||||
Number of common shares/units sold | $ | $ 1,086,000 | $ 267,000 | $ 368,000 | $ 472,000 | $ 3,390,623 | $ 11,946,365 | $ 27,327,975 | ||
Price per share/unit | $ 1.90 | $ 45 | $ 38 | $ 32.50 | |||||
Number of warrants issued | shares | 565,000 | ||||||||
Exercise price per warrant | [1] | $ 25 | |||||||
Net proceeds | $ | [2] | $ 2,040,000 | $ 1,300,000 | $ 11,900,000 | $ 13,000,000 | $ 14,300,000 | |||
Percentage of outstanding common stock on an after-issued basis | [3] | 9.90% | 2.80% | 4.00% | 5.40% | ||||
Warrants recorded at fair value | $ | $ 1,300,000 | $ 355,778 | |||||||
Director [Member] | |||||||||
Equity Offerings [Line Items] | |||||||||
Number of common shares/units sold | $ | $ 21,000 | ||||||||
Price per share/unit | $ 2.40 | ||||||||
Net proceeds | $ | [2] | $ 50,000 | |||||||
Percentage of outstanding common stock on an after-issued basis | [3] | 0.20% | |||||||
Common Stock Warrant [Member] | |||||||||
Equity Offerings [Line Items] | |||||||||
Number of warrants sold | item | 3 | ||||||||
Shares converted per warrant | shares | 188,406 | ||||||||
Warrants expiration period | 3 years | ||||||||
Common Stock Warrant [Member] | Warrant 1 [Member] | |||||||||
Equity Offerings [Line Items] | |||||||||
Exercise price per warrant | $ 15 | ||||||||
Common Stock Warrant [Member] | Warrant 2 [Member] | |||||||||
Equity Offerings [Line Items] | |||||||||
Exercise price per warrant | 25 | ||||||||
Common Stock Warrant [Member] | Warrant 3 [Member] | |||||||||
Equity Offerings [Line Items] | |||||||||
Exercise price per warrant | $ 35 | ||||||||
[1] | We sold 3 warrants to 1624, each for the purchase of up to 188,406 shares of our common stock at exercise prices of $15.00, $25.00 and $35.00, respectively. The warrants expire three years from the date of issuance. | ||||||||
[2] | After deduction of applicable underwriters' discounts, placement agent fees, and other offering costs. | ||||||||
[3] | Calculated on an after-issued basis. |
Shareholder Protection Rights62
Shareholder Protection Rights Agreement (Details) | Mar. 30, 2016$ / shares | Dec. 31, 2015$ / shares |
Acquisition of outstanding shares | 15.00% | |
Exercise Price | $ 14.50 | |
Redemption price | $ 0.01 | |
Subsequent Event [Member] | ||
Exercise Price | $ 14.50 | |
Post reserve split ratio | 0.1 |
Commitments And Contingencies63
Commitments And Contingencies (Narrative) (Details) | Dec. 15, 2015item | Aug. 27, 2015claimitem | Aug. 21, 2014item | May. 01, 2014item | Jan. 31, 2016item | Jan. 31, 2015claim | Jun. 30, 2014item | Oct. 31, 2013USD ($)claimitem | Dec. 31, 2015USD ($) | Dec. 31, 2014USD ($)claim | Dec. 31, 2013USD ($) |
Commitments and Contingencies [Line Items] | |||||||||||
Rent expense | $ | $ 545,334 | $ 523,454 | $ 476,782 | ||||||||
Lake Mary Florida [Member] | |||||||||||
Commitments and Contingencies [Line Items] | |||||||||||
Minimum rental payment | $ | 18,500 | ||||||||||
Jacksonville Florida [Member] | |||||||||||
Commitments and Contingencies [Line Items] | |||||||||||
Minimum rental payment | $ | 26,000 | ||||||||||
ParkerVision vs. Qualcomm, Inc. [Member] | |||||||||||
Commitments and Contingencies [Line Items] | |||||||||||
Patents infringement, amount awarded | $ | $ 172,700,000 | ||||||||||
ParkerVision vs. Qualcomm, HTC, and Samsung [Member] | |||||||||||
Commitments and Contingencies [Line Items] | |||||||||||
Number of patents found infringed upon | 4 | 7 | |||||||||
RPX and Farmwald vs. ParkerVision [Member] | |||||||||||
Commitments and Contingencies [Line Items] | |||||||||||
Gain contingency, number of claims | claim | 1 | ||||||||||
Number of patents subject to Inter Partes review | 3 | ||||||||||
Number of claims to institute trial | claim | 9 | ||||||||||
Qualcomm Inc And Qualcomm Atheros, Inc vs ParkerVision [Member] | |||||||||||
Commitments and Contingencies [Line Items] | |||||||||||
Additional number of patent subject to Inter Parter review | 1 | ||||||||||
Number of petitions | claim | 10 | ||||||||||
ParkerVision vs. Apple, LG, Samsung And Qualcomm [Member] | |||||||||||
Commitments and Contingencies [Line Items] | |||||||||||
Number of patents found infringed upon | 4 | ||||||||||
Equipment [Member] | |||||||||||
Commitments and Contingencies [Line Items] | |||||||||||
Rent expense | $ | $ 62,853 | $ 191,527 | $ 235,370 | ||||||||
Qualcomm Inc [Member] | |||||||||||
Commitments and Contingencies [Line Items] | |||||||||||
Gain contingency, number of claims | claim | 11 | ||||||||||
Number of patents found infringed upon | 4 | ||||||||||
Subsequent Event [Member] | ParkerVision vs. Qualcomm, HTC, and Samsung [Member] | |||||||||||
Commitments and Contingencies [Line Items] | |||||||||||
Number of patents found not infringed upon | 6 |
Commitments And Contingencies64
Commitments And Contingencies (Schedule Of Future Minimum Lease Payments For Capital Leases) (Details) | Dec. 31, 2015USD ($) |
Commitments And Contingencies [Abstract] | |
Operating leases 2016 | $ 587,500 |
Operating leases 2017 | 428,400 |
Operating leases 2018 | 14,200 |
Operating Leases Total | 1,030,100 |
Capital Leases 2016 | 53,800 |
Capital Leases 2017 | 300 |
Capital Leases 2018 | 0 |
Capital Leases, Total | $ 54,100 |
Related Party Transactions (Det
Related Party Transactions (Details) - USD ($) | Dec. 23, 2015 | Mar. 13, 2014 | Aug. 06, 2013 | Mar. 26, 2013 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | Feb. 29, 2016 | Feb. 19, 2016 | Jan. 25, 2016 |
Related Party Transaction [Line Items] | ||||||||||
Amount paid for patent-related legal services | $ 428,000 | $ 1,705,000 | $ 587,000 | |||||||
Sale of common stock, number of shares | $ 1,086,000 | $ 267,000 | $ 368,000 | $ 472,000 | 3,390,623 | $ 11,946,365 | $ 27,327,975 | |||
Price per share/unit | $ 1.90 | $ 45 | $ 38 | $ 32.50 | ||||||
Additional fees | $ 1,164,000 | |||||||||
Sale of common stock, number of shares | 11,015,180 | 9,718,343 | ||||||||
Subsequent Event [Member] | ||||||||||
Related Party Transaction [Line Items] | ||||||||||
Accounts payable | $ 339,000 | |||||||||
Notes payable | $ 825,000 | |||||||||
Sale of stock price per share | $ 2.20 | |||||||||
Papken Der Torossian [Member] | ||||||||||
Related Party Transaction [Line Items] | ||||||||||
Sale of common stock, number of shares | 20,833 | |||||||||
Sale of stock price per share | $ 2.40 | |||||||||
Wellington Management Group, LLP [Member] | ||||||||||
Related Party Transaction [Line Items] | ||||||||||
Percentage of ownership of outstanding stock | 5.00% | |||||||||
Sale of common stock, number of shares | 214,850 | |||||||||
Sale of stock price per share | $ 1.90 |
Fair Value Measurements (Schedu
Fair Value Measurements (Schedule Of Assets Measured At Fair Value On A Recurring Basis) (Details) - Municipal Bond Mutual Funds [Member] - USD ($) | Dec. 31, 2015 | Dec. 31, 2014 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value on a recurring basis | $ 1,789,947 | $ 10,985,000 |
Quoted Prices In Active Markets (Level 1) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value on a recurring basis | 1,789,947 | 10,985,000 |
Significant Other Observable Inputs (Level 2) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value on a recurring basis | 0 | 0 |
Significant Unobservable Inputs (Level 3) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value on a recurring basis | $ 0 | $ 0 |
Subsequent Events (Details)
Subsequent Events (Details) | Mar. 30, 2016 | Feb. 25, 2016USD ($)$ / shares | Jan. 31, 2015USD ($) | Mar. 31, 2016USD ($) | Mar. 29, 2016shares | Mar. 28, 2016shares | Feb. 19, 2016USD ($) | Dec. 31, 2015$ / sharesshares | Jan. 15, 2015$ / shares | Dec. 31, 2014$ / sharesshares | |
Subsequent Event [Line Items] | |||||||||||
Common stock, par value | $ / shares | $ 0.01 | $ 0.01 | |||||||||
Issuance of stocks for legal services | $ 250,000 | ||||||||||
Exercise price per warrant | $ / shares | [1] | $ 25 | |||||||||
Common stock, shares authorized | shares | 15,000,000 | 15,000,000 | |||||||||
Subsequent Event [Member] | |||||||||||
Subsequent Event [Line Items] | |||||||||||
Notes payable | $ 825,000 | ||||||||||
Interest rate | 8.00% | ||||||||||
Post reserve split ratio | 0.1 | ||||||||||
Common stock, shares authorized | shares | 15,000,000 | 150,000,000 | |||||||||
ParkerVision vs. Apple, LG, Samsung And Qualcomm [Member] | Subsequent Event [Member] | |||||||||||
Subsequent Event [Line Items] | |||||||||||
Litigation funds | $ 10,000,000 | $ 11,000,000 | |||||||||
Additional funds | $ 1,000,000 | ||||||||||
Percentage of proceeds payment | 100.00% | ||||||||||
Maximum additional funds related to patent enforcement actions | $ 2,000,000 | ||||||||||
Issuance of stocks for legal services | $ 250,000 | ||||||||||
Exercise price per warrant | $ / shares | $ 3.50 | ||||||||||
[1] | We sold 3 warrants to 1624, each for the purchase of up to 188,406 shares of our common stock at exercise prices of $15.00, $25.00 and $35.00, respectively. The warrants expire three years from the date of issuance. |
Quarterly Financial Data (Detai
Quarterly Financial Data (Details) - USD ($) | 3 Months Ended | 12 Months Ended | ||||||||||||
Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | ||||
Quarterly Financial Data [Abstract] | ||||||||||||||
Technology Services Revenue | $ 6,000 | $ 5,000 | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | $ 10,780 | $ 0 | $ 0 | |||
Gross margin | (1,000) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | (1,439) | 0 | 0 | |||
Net loss | $ (3,321,000) | $ (3,136,000) | $ (4,842,000) | $ (5,776,000) | $ (5,547,000) | $ (6,409,000) | $ (5,841,000) | $ (5,772,000) | $ (17,075,007) | $ (23,568,955) | $ (27,872,293) | |||
Basic and diluted net loss per common share | $ (0.33) | $ (0.32) | $ (0.50) | $ (0.59) | $ (0.57) | $ (0.66) | $ (0.61) | $ (0.61) | $ (1.74) | [1] | $ (2.45) | [1] | $ (3.13) | [1] |
[1] | Adjusted to reflect the impact of the 1:10 reverse stock split that became effective on March 30, 2016. |
Schedule II - Valuation And Q69
Schedule II - Valuation And Qualifying Accounts (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Valuation and Qualifying Accounts [Abstract] | |||
Balance at beginning of year | $ 115,675,493 | $ 107,949,839 | $ 98,006,927 |
Provision | 6,482,062 | 8,870,098 | 10,648,966 |
Write offs | (5,652) | (1,144,444) | (706,054) |
Balance at end of year | $ 122,151,903 | $ 115,675,493 | $ 107,949,839 |
Uncategorized Items - prkr-2015
Label | Element | Value | |
Scenario Adjustment [Member] | |||
Adjustments to Additional Paid in Capital, Stock Split | us-gaap_AdjustmentsToAdditionalPaidInCapitalStockSplit | $ 0 | |
Additional Paid In Capital [Member] | Scenario Adjustment [Member] | |||
Adjustments to Additional Paid in Capital, Stock Split | us-gaap_AdjustmentsToAdditionalPaidInCapitalStockSplit | 746,132 | [1] |
Common Stock [Member] | Scenario Adjustment [Member] | |||
Adjustments to Additional Paid in Capital, Stock Split | us-gaap_AdjustmentsToAdditionalPaidInCapitalStockSplit | $ (746,132) | [1] |
[1] | Adjusted to reflect the impact of the 1:10 reverse stock split that became effective on March 30, 2016. |