Document and Entity Information
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9 Months Ended | |
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Sep. 30, 2012
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Nov. 01, 2012
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Document and Entity Information [Abstract] | ||
Entity Registrant Name | LIQUIDMETAL TECHNOLOGIES INC | |
Entity Central Index Key | 0001141240 | |
Current Fiscal Year End Date | --12-31 | |
Entity Well-known Seasoned Issuer | No | |
Entity Voluntary Filers | No | |
Entity Current Reporting Status | Yes | |
Entity Filer Category | Smaller Reporting Company | |
Entity Common Stock, Shares Outstanding | 216,202,196 | |
Document Fiscal Year Focus | 2012 | |
Document Fiscal Period Focus | Q3 | |
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Sep. 30, 2012 |
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If the value is true, then the document is an amendment to previously-filed/accepted document. No definition available.
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End date of current fiscal year in the format --MM-DD. No definition available.
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This is focus fiscal period of the document report. For a first quarter 2006 quarterly report, which may also provide financial information from prior periods, the first fiscal quarter should be given as the fiscal period focus. Values: FY, Q1, Q2, Q3, Q4, H1, H2, M9, T1, T2, T3, M8, CY. No definition available.
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This is focus fiscal year of the document report in CCYY format. For a 2006 annual report, which may also provide financial information from prior periods, fiscal 2006 should be given as the fiscal year focus. Example: 2006. No definition available.
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The end date of the period reflected on the cover page if a periodic report. For all other reports and registration statements containing historical data, it is the date up through which that historical data is presented. If there is no historical data in the report, use the filing date. The format of the date is CCYY-MM-DD. No definition available.
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The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word "Other". No definition available.
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A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Indicate number of shares or other units outstanding of each of registrant's classes of capital or common stock or other ownership interests, if and as stated on cover of related periodic report. Where multiple classes or units exist define each class/interest by adding class of stock items such as Common Class A [Member], Common Class B [Member] or Partnership Interest [Member] onto the Instrument [Domain] of the Entity Listings, Instrument. No definition available.
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- Definition
Indicate "Yes" or "No" whether registrants (1) have filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that registrants were required to file such reports), and (2) have been subject to such filing requirements for the past 90 days. This information should be based on the registrant's current or most recent filing containing the related disclosure. No definition available.
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Indicate whether the registrant is one of the following: (1) Large Accelerated Filer, (2) Accelerated Filer, (3) Non-accelerated Filer, (4) Smaller Reporting Company (Non-accelerated) or (5) Smaller Reporting Accelerated Filer. Definitions of these categories are stated in Rule 12b-2 of the Exchange Act. This information should be based on the registrant's current or most recent filing containing the related disclosure. No definition available.
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The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Indicate "Yes" or "No" if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. No definition available.
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- Definition
Indicate "Yes" or "No" if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Is used on Form Type: 10-K, 10-Q, 8-K, 20-F, 6-K, 10-K/A, 10-Q/A, 20-F/A, 6-K/A, N-CSR, N-Q, N-1A. No definition available.
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- Definition
Value of warrants outstanding. A warrant gives the holder the right to purchase shares of common stock in accordance with the terms of the instrument, usually upon payment of a specified amount. No definition available.
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- Definition
Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount due from customers or clients, within one year of the balance sheet date (or the normal operating cycle, whichever is longer), for goods or services (including trade receivables) that have been delivered or sold in the normal course of business, reduced to the estimated net realizable fair value by an allowance established by the entity of the amount it deems uncertain of collection. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Carrying value as of the balance sheet date of obligations incurred and payable, pertaining to costs that are statutory in nature, are incurred on contractual obligations, or accumulate over time and for which invoices have not yet been received or will not be rendered. Examples include taxes, interest, rent and utilities. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Excess of issue price over par or stated value of the entity's capital stock and amounts received from other transactions involving the entity's stock or stockholders. Includes adjustments to additional paid in capital. Some examples of such adjustments include recording the issuance of debt with a beneficial conversion feature and certain tax consequences of equity instruments awarded to employees. Use this element for the aggregate amount of additional paid-in capital associated with common and preferred stock. For additional paid-in capital associated with only common stock, use the element additional paid in capital, common stock. For additional paid-in capital associated with only preferred stock, use the element additional paid in capital, preferred stock. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Discloses amount of embedded regulatory liabilities within the plant accounts. This may result when the regulatory depreciable life is shorter than the depreciable life generally used for nonregulatory accounting. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold, or consumed within one year (or the normal operating cycle, if longer). Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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- Definition
Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Aggregate par or stated value of issued nonredeemable common stock (or common stock redeemable solely at the option of the issuer). This item includes treasury stock repurchased by the entity. Note: elements for number of nonredeemable common shares, par value and other disclosure concepts are in another section within stockholders' equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Including the current and noncurrent portions, carrying amount of debt identified as being convertible into another form of financial instrument (typically the entity's common stock) as of the balance sheet date, which originally required full repayment more than twelve months after issuance or greater than the normal operating cycle of the company. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The carrying amount of consideration received or receivable as of the balance sheet date on potential earnings that were not recognized as revenue in conformity with GAAP, and which are expected to be recognized as such within one year or the normal operating cycle, if longer, including sales, license fees, and royalties, but excluding interest income. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Carrying value as of the balance sheet date of dividends declared but unpaid on equity securities issued by the entity and outstanding. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Sum of the carrying amounts of all intangible assets, excluding goodwill, as of the balance sheet date, net of accumulated amortization and impairment charges. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Sum of the carrying amounts as of the balance sheet date of all liabilities that are recognized. Liabilities are probable future sacrifices of economic benefits arising from present obligations of an entity to transfer assets or provide services to other entities in the future. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Total of all Liabilities and Stockholders' Equity items (or Partners' Capital, as applicable), including the portion of equity attributable to noncontrolling interests, if any. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Total obligations incurred as part of normal operations that are expected to be paid during the following twelve months or within one business cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
An amount representing an agreement for an unconditional promise by the maker to pay the Entity (holder) a definite sum of money at a future date(s) within one year of the balance sheet date or the normal operating cycle, whichever is longer. Such amount may include accrued interest receivable in accordance with the terms of the debt. The debt also may contain provisions including a discount or premium, payable on demand, secured, or unsecured, interest bearing or noninterest bearing, among a myriad of other features and characteristics. This amount does not include amounts related to receivables held-for-sale. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Aggregate carrying amount, as of the balance sheet date, of noncurrent assets not separately disclosed in the balance sheet. Noncurrent assets are expected to be realized or consumed after one year (or the normal operating cycle, if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Aggregate carrying amount, as of the balance sheet date, of noncurrent obligations not separately disclosed in the balance sheet. Noncurrent liabilities are expected to be paid after one year (or the normal operating cycle, if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Aggregate par or stated value of issued nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer). This item includes treasury stock repurchased by the entity. Note: elements for number of nonredeemable preferred shares, par value and other disclosure concepts are in another section within stockholders' equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The total of the amounts paid in advance for capitalized costs that will be expensed with the passage of time or the occurrence of a triggering event, and will be charged against earnings within one year or the normal operating cycle, if longer, and the aggregate carrying amount of current assets, as of the balance sheet date, not separately presented elsewhere in the balance sheet. Current assets are expected to be realized or consumed within one year (or the normal operating cycle, if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount, net of accumulated depreciation, depletion and amortization, of long-lived physical assets used in the normal conduct of business and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, furniture and fixtures, and computer equipment. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The cumulative amount of the reporting entity's undistributed earnings or deficit. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Reflects the total carrying amount as of the balance sheet date of debt having initial terms less than one year or the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of stockholders' equity (deficit), net of receivables from officers, directors, owners, and affiliates of the entity, attributable to both the parent and noncontrolling interests. Amount excludes temporary equity. Alternate caption for the concept is permanent equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Value of outstanding derivative securities that permit the holder the right to purchase securities (usually equity) from the issuer at a specified price. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) (USD $)
In Thousands, except Share data, unless otherwise specified |
Sep. 30, 2012
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Dec. 31, 2011
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Current assets: | ||
Allowance for doubtful accounts | $ 0 | $ 0 |
Net of debt discount | $ 8,177 | |
Shareholders' deficit: | ||
Preferred stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Preferred stock, authorized (in shares) | 10,000,000 | 10,000,000 |
Preferred stock, issued (in shares) | 506,936 | 1,299,151 |
Preferred stock, outstanding (in shares) | 506,936 | 1,299,151 |
Common stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Common stock, authorized (in shares) | 400,000,000 | 400,000,000 |
Common stock, issued (in shares) | 196,962,069 | 134,467,554 |
Common stock, outstanding (in shares) | 196,962,069 | 134,467,554 |
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- Definition
A valuation allowance for trade and other receivables due to an Entity within one year (or the normal operating cycle, whichever is longer) that are expected to be uncollectible. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Face amount or stated value of common stock per share; generally not indicative of the fair market value per share. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The maximum number of common shares permitted to be issued by an entity's charter and bylaws. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Total number of common shares of an entity that have been sold or granted to shareholders (includes common shares that were issued, repurchased and remain in the treasury). These shares represent capital invested by the firm's shareholders and owners, and may be all or only a portion of the number of shares authorized. Shares issued include shares outstanding and shares held in the treasury. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Number of shares of common stock outstanding. Common stock represent the ownership interest in a corporation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The amount of debt discount (net of debt premium) that was originally recognized at the issuance of the instrument that has yet to be amortized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Face amount or stated value per share of nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer); generally not indicative of the fair market value per share. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The maximum number of nonredeemable preferred shares (or preferred stock redeemable solely at the option of the issuer) permitted to be issued by an entity's charter and bylaws. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Total number of nonredeemable preferred shares (or preferred stock redeemable solely at the option of the issuer) issued to shareholders (includes related preferred shares that were issued, repurchased, and remain in the treasury). May be all or portion of the number of preferred shares authorized. Excludes preferred shares that are classified as debt. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Aggregate share number for all nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer) held by stockholders. Does not include preferred shares that have been repurchased. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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- Definition
The net change in the difference between the fair value and the carrying value of warrants. No definition available.
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- Definition
This element represents the weighted average total number of shares issued throughout the period including the first (beginning balance outstanding) and last (ending balance outstanding) day of the period before considering any reductions (for instance, shares held in treasury) to arrive at the weighted average number of shares outstanding (both basic and diluted). Weighted average relates to the portion of time within a reporting period that common shares have been issued and outstanding to the total time in that period. Such concept is used in determining the weighted average number of shares outstanding for purposes of calculating earnings per share (basic and diluted). No definition available.
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- Definition
Amount of noncash expense included in interest expense to amortize debt discount and premium associated with the related debt instruments. Excludes amortization of financing costs. Alternate captions include noncash interest expense. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of noncash expense included in interest expense to issue debt and obtain financing associated with the related debt instruments. Alternate captions include noncash interest expense. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The change in equity [net assets] of a business enterprise during a period from transactions and other events and circumstances from non-owner sources which are attributable to the economic entity, including both controlling (parent) and noncontrolling interests. It includes all changes in equity during a period except those resulting from investments by owners and distributions to owners, including any and all transactions which are directly or indirectly attributable to that ownership interest in subsidiary equity which is not attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The aggregate costs related to goods produced and sold and services rendered by an entity during the reporting period. This excludes costs incurred during the reporting period related to financial services rendered and other revenue generating activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of gain (loss), after tax expense or benefit and not previously recognized, resulting from the sale of a business component. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The amount of net income or loss for the period per each share in instances when basic and diluted earnings per share are the same amount and reported as a single line item on the face of the financial statements. Basic earnings per share is the amount of net income or loss for the period per each share of common stock or unit outstanding during the reporting period. Diluted earnings per share includes the amount of net income or loss for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. No definition available.
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- Details
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- Definition
The net proceeds or assets obtained in excess of (less than) the net carrying amount of assets recorded, or assets distributed and liabilities assumed less than (in excess of) estimated litigation liability extinguished, in settlement of a litigation matter. Represents (for other than an insurance entity in its normal claims settlement process), the amount of income (expense) recognized in the period to settle pending or threatened litigation and insurance claims. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Aggregate revenue less cost of goods and services sold or operating expenses directly attributable to the revenue generation activity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
This element represents the income or loss from continuing operations attributable to the economic entity which may also be defined as revenue less expenses from ongoing operations, after income or loss from equity method investments, but before income taxes, extraordinary items, and noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
This element represents the income or loss from continuing operations attributable to the economic entity which may also be defined as revenue less expenses and taxes from ongoing operations before extraordinary items, and noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The amount of net income (loss) from continuing operations per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of income (loss) from a disposal group, net of income tax before extraordinary items allocable to noncontrolling interests. Includes, net of tax, income (loss) from operations during the phase-out period, gain (loss) on disposal, provision (or any reversals of earlier provisions) for loss on disposal, and adjustments of a prior period gain (loss) on disposal. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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- Definition
The amount of net income or loss derived from discontinued operations during the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The sum of the current income tax expense or benefit and the deferred income tax expense or benefit pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The cost of borrowed funds accounted for as interest that was charged against earnings during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Income derived from investments in debt securities and on cash and cash equivalents the earnings of which reflect the time value of money or transactions in which the payments are for the use or forbearance of money. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Revenue earned during the period relating to consideration received from another party for the right to use, but not own, certain of the entity's intangible assets. Licensing arrangements include, but are not limited to, rights to use a patent, copyright, technology, manufacturing process, software or trademark. Licensing fees are generally, but not always, fixed as to amount and not dependent upon the revenue generated by the licensing party. An entity may receive licensing fees for licenses that also generate royalty payments to the entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The aggregate costs incurred in the production of goods for sale. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The aggregate amount of income or expense from ancillary business-related activities (that is to say, excluding major activities considered part of the normal operations of the business). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Generally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Includes selling, general and administrative expense. No definition available.
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- Details
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- Definition
The net result for the period of deducting operating expenses from operating revenues. No definition available.
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- Definition
Amount after tax, before reclassification adjustments, resulting from the process of expressing in the reporting currency of the reporting entity those amounts that are denominated or measured in a different currency, and from transactions whose terms are denominated in a currency other than the entity's functional currency. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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- Definition
The aggregate costs incurred (1) in a planned search or critical investigation aimed at discovery of new knowledge with the hope that such knowledge will be useful in developing a new product or service, a new process or technique, or in bringing about a significant improvement to an existing product or process; or (2) to translate research findings or other knowledge into a plan or design for a new product or process or for a significant improvement to an existing product or process whether intended for sale or the entity's use, during the reporting period charged to research and development projects, including the costs of developing computer software up to the point in time of achieving technological feasibility, and costs allocated in accounting for a business combination to in-process projects deemed to have no alternative future use. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Aggregate revenue recognized during the period (derived from goods sold, services rendered, insurance premiums, or other activities that constitute an entity's earning process). For financial services companies, also includes investment and interest income, and sales and trading gains. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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- Definition
Total revenue from sale of goods and services rendered during the reporting period, in the normal course of business, reduced by sales returns and allowances, and sales discounts. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The aggregate total costs related to selling a firm's product and services, as well as all other general and administrative expenses. Direct selling expenses (for example, credit, warranty, and advertising) are expenses that can be directly linked to the sale of specific products. Indirect selling expenses are expenses that cannot be directly linked to the sale of specific products, for example telephone expenses, Internet, and postal charges. General and administrative expenses include salaries of non-sales personnel, rent, utilities, communication, etc. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The net change in the difference between the fair value and the carrying value, or in the comparative fair values, of derivative instruments, including options, swaps, futures, and forward contracts, held at each balance sheet date, that was included in earnings for the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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CONSOLIDATED STATEMENT OF SHAREHOLDERS' DEFICIT (Unaudited) (USD $)
In Thousands, except Share data, unless otherwise specified |
Preferred Stock [Member]
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Common Stock [Member]
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Warrants part of Additional Paid-In Capital [Member]
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Additional Paid-in Capital [Member]
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Accumulated Deficit [Member]
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Total
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Balance at Dec. 31, 2011 | $ 1 | $ 130 | $ 24,438 | $ 149,064 | $ (175,859) | $ (2,226) |
Balance (in shares) at Dec. 31, 2011 | 1,299,151 | 134,467,554 | ||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Conversion of preferred stock (in shares) | (792,215) | 25,669,752 | ||||
Conversion of preferred stock | (1) | 26 | (25) | |||
Common stock issuance (in shares) | 35,059,163 | |||||
Common stock issuance | 35 | 0 | 7,778 | 7,813 | ||
Warrant exercises (in shares) | 1,411,600 | |||||
Warrants exercised | 1 | (6,259) | 6,258 | 0 | ||
Stock options exercise (in shares) | 354,000 | |||||
Stock options exercise | 1 | 43 | 44 | |||
Stock-based compensation | 71 | 71 | ||||
Restricted stock issued to officer | 233 | 233 | ||||
Dividend distribution | 349 | 349 | ||||
Net loss | (11,040) | (11,040) | ||||
Balance at Sep. 30, 2012 | $ 0 | $ 193 | $ 18,179 | $ 163,771 | $ (186,899) | $ (4,756) |
Balance (in shares) at Sep. 30, 2012 | 506,936 | 196,962,069 |
X | ||||||||||
- Definition
Number of warrant exercised during the current period. No definition available.
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X | ||||||||||
- Definition
Value of stock related to Restricted Stock Awards issued to officer(s) during the period, net of the stock value of such awards forfeited. No definition available.
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X | ||||||||||
- Definition
Value of stock issued as a result of the exercise of warrant. No definition available.
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X | ||||||||||
- Definition
This element represents the amount of recognized equity-based compensation during the period, that is, the amount recognized as expense in the income statement (or as asset if compensation is capitalized). Alternate captions include the words "stock-based compensation". Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Equity impact of aggregate cash, stock, and paid-in-kind dividends declared for common shareholders during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Details
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X | ||||||||||
- Definition
The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Number of shares issued and outstanding as of the balance sheet date. No definition available.
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X | ||||||||||
- Definition
Amount of stockholders' equity (deficit), net of receivables from officers, directors, owners, and affiliates of the entity, attributable to both the parent and noncontrolling interests. Amount excludes temporary equity. Alternate caption for the concept is permanent equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Number of shares issued during the period as a result of the conversion of convertible securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Number of new stock issued during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Number of share options (or share units) exercised during the current period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The gross value of stock issued during the period upon the conversion of convertible securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Equity impact of the value of new stock issued during the period. Includes shares issued in an initial public offering or a secondary public offering. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Value of stock issued as a result of the exercise of stock options. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Change during the reporting period due to the cashless exercise of warrants. No definition available.
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X | ||||||||||
- Definition
The net change in the difference between the fair value and the carrying value of warrants. No definition available.
|
X | ||||||||||
- Definition
Amount of income (loss) from a disposal group and discontinued operations, net of income tax before extraordinary items allocable to noncontrolling interests. Includes, net of tax, income (loss) from operations during the phase-out period, gain (loss) on disposal, provision (or any reversals of earlier provisions) for loss on disposal, and adjustments of a prior period gain (loss) on disposal. No definition available.
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X | ||||||||||
- Definition
Offering costs in relation to the issuance of common stock. No definition available.
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X | ||||||||||
- Details
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X | ||||||||||
- Definition
Amount of noncash expense included in interest expense to amortize debt discount and premium associated with the related debt instruments. Excludes amortization of financing costs. Alternate captions include noncash interest expense. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Amount of noncash expense included in interest expense to issue debt and obtain financing associated with the related debt instruments. Alternate captions include noncash interest expense. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Amount of increase (decrease) in cash and cash equivalents. Cash and cash equivalents are the amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
This element represents cash provided by or used in the financing activities of the entity's discontinued operations during the period. This element is only used by those entities that separately report cash flows attributable to discontinued operations. If using this element, it is an indication that the cash flows of the entity which are detailed in reconciling to cash provided by or used in financing activities reflect only cash flows attributable to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The value of the financial instrument(s) that the original debt is being converted into in a noncash (or part noncash) transaction. "Part noncash" refers to that portion of the transaction not resulting in cash receipts or cash payments in the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The aggregate expense recognized in the current period that allocates the cost of tangible assets, intangible assets, or depleting assets to periods that benefit from use of the assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The effect of exchange rate changes on cash balances held in foreign currencies. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
This element represents the income or loss from continuing operations attributable to the economic entity which may also be defined as revenue less expenses and taxes from ongoing operations before extraordinary items, and noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The increase (decrease) during the reporting period in the amounts payable to vendors for goods and services received and the amount of obligations and expenses incurred but not paid. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The increase (decrease) during the reporting period in amount due within one year (or one business cycle) from customers for the credit sale of goods and services. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The increase (decrease) during the reporting period, excluding the portion taken into income, in the liability reflecting revenue yet to be earned for which cash or other forms of consideration was received or recorded as a receivable. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The increase (decrease) during the reporting period in the aggregate value of all inventory held by the reporting entity, associated with underlying transactions that are classified as operating activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Details
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X | ||||||||||
- Definition
The increase (decrease) during the reporting period in other noncurrent operating assets not separately disclosed in the statement of cash flows. No definition available.
|
X | ||||||||||
- Definition
The increase (decrease) during the reporting period in other liabilities used in operating activities not separately disclosed in the statement of cash flows. May include changes in other current liabilities, other noncurrent liabilities, or a combination of other current and noncurrent liabilities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The increase (decrease) during the reporting period in the value of prepaid expenses and other assets not separately disclosed in the statement of cash flows, for example, deferred expenses, intangible assets, or income taxes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The aggregate costs incurred in the production of goods for sale. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The increase (decrease) in cash associated with the entity's continuing operating, investing, and financing activities. While for technical reasons this element has no balance attribute, the default assumption is a debit balance consistent with its label. No definition available.
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X | ||||||||||
- Definition
Increase (decrease) in cash associated with the entity's discontinued operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The net cash inflow or outflow from financing activity for the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Details
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X | ||||||||||
- Definition
Amount of net cash from (used in) the entity's financing activities, excluding cash flows derived by the entity from its discontinued operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The net cash inflow or outflow from investing activity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Details
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X | ||||||||||
- Definition
The net cash from (used in) all of the entity's operating activities, including those of discontinued operations, of the reporting entity. Operating activities generally involve producing and delivering goods and providing services. Operating activity cash flows include transactions, adjustments, and changes in value that are not defined as investing or financing activities. While for technical reasons this element has no balance attribute, the default assumption is a debit balance consistent with its label. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Details
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X | ||||||||||
- Definition
The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Interest paid other than in cash for example by issuing additional debt securities. As a noncash item, it is added to net income when calculating cash provided by or used in operations using the indirect method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The cash outflow paid to third parties in connection with debt origination, which will be amortized over the remaining maturity period of the associated long-term debt. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The cash outflow to acquire asset without physical form usually arising from contractual or other legal rights, excluding goodwill. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The cash outflow to acquire an agreement for an unconditional promise by the maker to pay the entity (holder) a definite sum of money at a future date. Such amount may include accrued interest receivable in accordance with the terms of the note. The note also may contain provisions including a discount or premium, payable on demand, secured, or unsecured, interest bearing or noninterest bearing, among myriad other features and characteristics. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The cash outflow associated with the acquisition of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale; includes cash outflows to pay for construction of self-constructed assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The cash inflow from the issuance of a long-term debt instrument which can be exchanged for a specified amount of another security, typically the entity's common stock, at the option of the issuer or the holder. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The cash inflow from the additional capital contribution to the entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The cash inflow from a borrowing having initial term of repayment within one year or the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The cash inflow associated with the amount received from holders exercising their stock options. This item inherently excludes any excess tax benefit, which the entity may have realized and reported separately. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The cash outflow for a borrowing having initial term of repayment within one year or the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The noncash expense that represents the cost of restricted stock or unit distributed to employees as compensation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The aggregate amount of noncash, equity-based employee remuneration. This may include the value of stock or unit options, amortization of restricted stock or units, and adjustment for officers' compensation. As noncash, this element is an add back when calculating net cash generated by operating activities using the indirect method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Details
|
X | ||||||||||
- Definition
The net change in the difference between the fair value and the carrying value, or in the comparative fair values, of derivative instruments, including options, swaps, futures, and forward contracts, held at each balance sheet date, that was included in earnings for the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Description of Business
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9 Months Ended |
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Sep. 30, 2012
|
|
Description of Business [Abstract] | |
Description of Business | 1. Description of Business Liquidmetal Technologies, Inc. (the "Company") is a materials technology company that develops and commercializes products made from amorphous alloys. The Company's family of alloys consists of a variety of bulk alloys and composites that utilizes the advantages offered by amorphous alloys technology. The Company designs, develops and sells products and components from bulk amorphous alloys to customers in various industries. The Company also partners with third-party manufacturers and licensees to develop and commercialize Liquidmetal alloy products. The Company believes that its proprietary bulk alloys are the only commercially viable bulk amorphous alloys currently available in the marketplace. Amorphous alloys are in general unique materials that are distinguished by their ability to retain a random atomic structure when they solidify, in contrast to the crystalline atomic structure that forms in other metals and alloys when they solidify. Liquidmetal alloys are proprietary amorphous alloys that possess a combination of performance, processing, and potential cost advantages that the Company believes will make them preferable to other materials in a variety of applications. The amorphous atomic structure of bulk alloys enables them to overcome certain performance limitations caused by inherent weaknesses in crystalline atomic structures, thus facilitating performance and processing characteristics superior in many ways to those of their crystalline counterparts. For example, in laboratory testing, zirconium-titanium Liquidmetal alloys are approximately 250% stronger than commonly used titanium alloys such as Ti-6Al-4V, but they also have some of the beneficial processing characteristics more commonly associated with plastics. The Company believes these advantages could result in Liquidmetal alloys supplanting high-performance alloys, such as titanium and stainless steel, and other incumbent materials in a wide variety of applications. Moreover, the Company believes these advantages could enable the introduction of entirely new products and applications that are not possible or commercially viable with other materials. The Company's revenues are derived from i) selling bulk Liquidmetal alloy products, which include non-consumer electronic devices, aerospace parts, medical products, and sports and leisure goods, ii) selling tooling and prototype parts such as demonstration parts and test samples for customers with products in development; and iii) product licensing and royalty revenue. The Company is currently converting from a research and development and prototyping business to a general production business of selling commercial parts, and in the future, we expect to have the largest portion of our revenues in the Liquidmetal alloy products category. |
X | ||||||||||
- Definition
The entire disclosure for the business description and basis of presentation concepts. Business description describes the nature and type of organization including but not limited to organizational structure as may be applicable to holding companies, parent and subsidiary relationships, business divisions, business units, business segments, affiliates and information about significant ownership of the reporting entity. Basis of presentation describes the underlying basis used to prepare the financial statements (for example, US Generally Accepted Accounting Principles, Other Comprehensive Basis of Accounting, IFRS). No definition available.
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X | ||||||||||
- Details
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Basis of Presentation and Accounting Policies
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9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Sep. 30, 2012
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Basis of Presentation and Accounting Policies [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Basis of Presentation and Accounting Policies | 2. Basis of Presentation and Recent Accounting Pronouncements The accompanying unaudited interim consolidated financial statements as of and for the three and nine months ended September 30, 2012 have been prepared in accordance with accounting principles generally accepted in the United States of America ("generally accepted accounting principles") for interim financial information and with the instructions to Form 10-Q. Accordingly, they do not include all of the information and notes required by generally accepted accounting principles for complete financial statements. In the opinion of management, all adjustments (consisting only of normal recurring accruals) considered necessary for a fair presentation have been included. All intercompany balances and transactions have been eliminated. Operating results for the three and nine months ended September 30, 2012 are not necessarily indicative of the results that may be expected for any future periods or the year ending December 31, 2012. The accompanying unaudited consolidated financial statements should be read in conjunction with the Company's 2011 Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 30, 2012. Revenue Recognition Revenue is recognized pursuant to applicable accounting standards including FASB ASC Topic 605 ("ASC 605"), Revenue Recognition. ASC 605 summarizes certain points of the SEC staff's views in applying generally accepted accounting principles to revenue recognition in financial statements and provides guidance on revenue recognition issues in the absence of authoritative literature addressing a specific arrangement or a specific industry. The Company's revenue recognition policy complies with the requirements of ASC 605. Revenue is recognized when (i) persuasive evidence of an arrangement exists, (ii) delivery has occurred, (iii) the sales price is fixed or determinable, (iv) collection is probable and (v) all obligations have been substantially performed pursuant to the terms of the arrangement. Revenues primarily consist of the sales and prototyping of Liquidmetal mold and bulk alloys as well as licensing and royalties for the use of the Liquidmetal brand and bulk Liquidmetal alloys. Revenue is deferred and included in liabilities when the Company receives cash in advance for goods not yet delivered or if the licensing term has not begun. License revenue arrangements in general provide for the grant of certain intellectual property rights for patented technologies owned or controlled by the Company. These rights typically include the grant of an exclusive or non-exclusive right to manufacture and/or sell products covered by patented technologies owned or controlled by the Company. The intellectual property rights granted may be perpetual in nature, extending until the expiration of the related patents, or can be granted for a defined period of time. Licensing revenues that are one time fees upon the granting of the license are recognized when (i) the license term begins in a manner consistent with the nature of the transaction and the earnings process, (ii) collectability is reasonably assured or upon receipt of an upfront fee, and (iii) all other revenue recognition criteria have been met. Pursuant to the terms of these agreements, the Company has no further obligation with respect to the grant of the license. Licensing revenues that are related to royalties are recognized as the royalties are earned over the related period. Fair Value Measurements The estimated fair values of amounts reported in the consolidated financial statements have been determined using available market information and valuation methodologies, as applicable. The fair value of cash and trade receivables approximate their carrying value due to their short maturities. The fair value of non-current assets and liabilities approximate their carrying value unless otherwise stated. The carry amounts reported for debt obligations approximate fair value due to the effective interest rate of these obligations reflecting the Company's current borrowing rate. Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Entities are required to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value based upon the following fair value hierarchy:
The Company has one Level 2 financial instrument, warrants that are recorded at fair value on a periodic basis. Warrants are evaluated under the hierarchy of FASB ASC Subtopic 480-10, FASB ASC Paragraph 815-25-1 and FASB ASC Subparagraph 815-10-15-74 addressing embedded derivatives. The fair value of such warrants is estimated using the Black-Scholes option pricing model. The foregoing warrants have certain anti-dilution and exercise price reset provisions which qualify the warrants to be classified as a liability under FASB ASC 815 (see note 9). The Company has one Level 3 financial instrument, an embedded derivative that is recorded at fair value on a periodic basis. The embedded derivative is evaluated under the hierarchy of FASB ASC Subtopic 480-10, FASB ASC Paragraph 815-25-1 and FASB ASC Subparagraph 815-10-15-74 addressing embedded derivative. The fair value of such embedded derivatives is estimated using the Monte Carlo simulation model. The foregoing embedded derivative has certain anti-dilution and exercise price reset provisions which qualify the embedded derivative to be classified as a liability under FASB ASC 815 (see notes 8). As of September 30, 2012, the following table represents the Company's fair value hierarchy for items that are required to be measured at fair value on a recurring basis:
Recent Accounting Pronouncements In June 2011, the FASB, issued guidance regarding the presentation of comprehensive income. The new guidance eliminates the option to report other comprehensive income and its components in the statement of changes in equity. Instead, an entity is required to present either a continuous statement of net income and other comprehensive income or two separate but consecutive statements. The updated guidance is effective on a retrospective basis for financial statements issued for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2011. The Company adopted the guidance beginning on January 1, 2012. In May 2011, the FASB issued additional guidance on fair value measurements that clarifies the application of existing guidance and disclosure requirements, changes certain fair value measurement principles and requires additional disclosures about fair value measurements. The updated guidance is effective on a prospective basis for financial statements issued for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2011. The Company adopted the guidance beginning on January 1, 2012. Other recent accounting pronouncements issued by the FASB (including its Emerging Issues Task Force), the AICPA and the SEC did not or are not believed by management to have a material impact on the Company's present or future consolidated financial statements. |
X | ||||||||||
- Details
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X | ||||||||||
- Definition
The entire disclosure for the basis of presentation and significant accounting policies concepts. Basis of presentation describes the underlying basis used to prepare the financial statements (for example, US Generally Accepted Accounting Principles, Other Comprehensive Basis of Accounting, IFRS). Accounting policies describe all significant accounting policies of the reporting entity. No definition available.
|
Significant Transactions
|
9 Months Ended |
---|---|
Sep. 30, 2012
|
|
Significant Transactions [Abstract] | |
Significant Transactions | 3. Significant Transactions July 2012 Private Placement On July 2, 2012, the Company entered into a private placement transaction (the "July 2012 Private Placement") for $12 million in principal amount of senior convertible notes due on September 1, 2013. The notes are convertible at any time at the option of the holders, into shares of the Company's common stock at a conversion price of $0.352 per share. In the event that the Company issues or sells shares of the Company's common stock for a price per share that is less than the conversion price then in effect, the conversion price then in effect will be decreased to such lower price, subject to customary exceptions. The notes bear interest at 8% per annum and are payable in twelve equal monthly installments of principal and interest beginning on October 1, 2012. Each monthly installment payment may be made in cash, shares of the Company's common stock, or a combination thereof. If paid in shares, such shares will be valued at the lower of (i) the then applicable conversion price or (ii) a price that is 87.5% of the arithmetic average of the ten (or in some cases fewer) lowest weighted average prices of the Company's common stock during the twenty trading day period ending two trading days before the payment date or the date on which the Company elects to pay in shares, whichever is lower (the "Measurement Period"). The Company's ability to make such payments with shares of the Company's common stock will be subject to certain conditions including (i) a minimum of $250 in average daily trading volume during the Measurement Period, (ii) a minimum of $150 in daily trading volume during each day during the Measurement Period, with certain exceptions, and (iii) the effectiveness of a resale registration statement with respect to the shares (see note 8). As a part of the July 2012 Private Placement, the Company issued warrants to purchase 18,750,000 shares of the Company's common stock at an exercise price of $0.384 per share, and such warrants will be first exercisable within six months of the issuance date thereof. In the event that the Company issues or sells shares of the Company's common stock at a price per share that is less than the exercise price then in effect, the exercise price of the warrants will be reduced based on a weighted-average formula. In addition, on the two year anniversary of the issuance date, the then applicable exercise price may be reset to equal the lesser of (i) the then current exercise price or (ii) 87.5% of the arithmetic average of the ten lowest weighted average prices of the common stock during the twenty trading day period ending two trading days immediately preceding the reset date. All of the warrants will expire on July 2, 2017 (see note 9). June 2012 Visser Precision Cast, LLC On June 1, 2012, the Company entered into a Master Transaction Agreement (the "Visser MTA Agreement") with Visser Precision Cast, LLC ("Visser") relating to a strategic transaction for manufacturing services and financing. Under the manufacturing/sublicense component of the Visser MTA Agreement, the Company has agreed to engage Visser as a perpetual, exclusive manufacturer of non-consumer electronic products and to not, directly or indirectly, conduct manufacturing operations, subcontract for the manufacture of products or components or grant a license to any other party to conduct manufacturing operations, except for certain limited exceptions. Further, the Company has agreed to sublicense to Visser, on a fully-paid up, royalty-free, irrevocable, perpetual, worldwide basis, all intellectual property rights held by the Company. In addition, Visser has a right of first refusal over any proposed transfer by the Company of its technology pursuant to any license, sublicense, sale or other transfer, other than a license to a machine or alloy vendor. Under the financing component of the Visser MTA Agreement, the Company issued and sold to Visser in a private placement transaction (i) 30,000,000 shares of common stock at a purchase price of $0.10 per share resulting in proceeds of $3,000, (ii) warrants to purchase 15,000,000 shares of common stock at an exercise price of $0.22 per share which expire on June 1, 2017 and (iii) a secured convertible promissory note (the "Promissory Note") in the aggregate principal amount of up to $2,000 which is convertible into shares of common stock at a conversion rate of $0.22 per share. The Promissory Note was issued pursuant to a $2,000 loan facility made available by Visser, but no borrowings will be made by the Company under this loan facility, as the deadline for making borrowings under the facility expires on November 15, 2012. All of the shares of common stock issued and issuable upon exercise or conversion of the warrants and the Promissory Note are subject to a lock-up period through December 31, 2016. The warrants under the Visser MTA Agreement contain certain anti-dilution and exercise price reset provisions which results in liability accounting under FASB ASC 815 (see note 9). In relation to the financing cost component to the Visser transaction, the Company performed a prorated allocation of the fair value of the warrants on the convertible promissory note and the common stock based on their relative fair values. The Company capitalized deferred financing costs in relation to the convertible promissory note totaling $1,355 and offset additional paid-in capital for $2,905 in relation to the warrant. The Company assessed the value of the deferred financing costs as of the quarter ended June 30, 2012 and determined that the value was impaired due to the limitations on the Company's ability to request for advances as discussed above. Therefore, the Company has expensed the deferred financing costs totaling $1,355 as of the quarter ended June 30, 2012. In connection with the Visser MTA Agreement, the Company performed a valuation analysis of the manufacturing service and financing components of the Visser MTA Agreement as part of the bundled contract. The Company has assessed and determined that the values of the manufacturing component and sublicense component were immaterial. Further, the Company's weighted average market stock price was approximately $0.31 per share at the time of share issuances to Visser. As the actual share purchase price related to the financing component of the Visser MTA Agreement was $0.10 per share, the $0.21 per share difference was treated as manufacturing contract costs and $6,300 was expensed as operating expenses during the second quarter ended June 30, 2012. Other Significant Transactions On January 31, 2012, the Company and Engel Austria Gmbh ("Engel") entered into a Supply and License Agreement for a five year term whereby Engel was granted a non-exclusive license to manufacture and sell injection molding machines to the Company's licensees. On November 16, 2011, the Company and Materion Brush Inc. ("Materion") entered into a Development Agreement to evaluate, analyze and develop amorphous alloy feedstock to be supplied in commercial quantities. Further, on June 17, 2012, the Company entered into a Sales Representation Agreement with Materion whereby Materion shall promote the sale of Liquidmetal's products for certain commissions. This agreement is for a two year initial term with annual, automatic renewals. On January 17, 2012, February 27, 2012, March 28, 2012 and April 25, 2012, the Company issued 8% unsecured, bridge promissory notes to Visser that were due upon demand in the amounts of $200, $200, $350 and $300, respectively. The aggregate principal amount of $1,050 and accrued interest under the bridge promissory notes were all paid off on June 1, 2012 by utilizing a portion of the proceeds received under the financing component of the Visser MTA Agreement. On December 20, 2011, the Company's former majority owned subsidiary, Liquidmetal Coatings, LLC ("LMC"), entered into a transaction pursuant to which LMC issued and sold additional membership interests to a related party and third-party investors for an aggregate purchase price of $3 million (the "LMC Investment"). The LMC Investment was entered into pursuant to a Membership Interest Purchase Agreement between the investors and LMC (the "Purchase Agreement"). The investors in the LMC Investment were Rockwall Holdings, Inc. ("Rockwall") and C3 Capital Partners, L.P. and C3 Capital Partners II, L.P. (the "C3 Entities"). The C3 Entities were minority investors in LMC prior to the transaction, and Rockwall is a company controlled by John Kang, a former Chief Executive Officer and Chairman of the Company. The transactions contemplated by the Purchase Agreement were deemed to be effective as of November 30, 2011. In connection with the LMC Investment, the Company and the C3 Entities agreed to terminate a letter agreement, dated July 30, 2010, under which the Company would have been obligated to contribute additional capital to LMC if requested by LMC. As a result of the LMC Investment and the termination of such letter agreement, the Company no longer has any contingent obligation to contribute additional capital to LMC and consequently, the Company's equity interest in LMC was reduced from approximately 72.86% to 0.67%. However, the Company did not sell any of its own membership interests in LMC in the transaction. As a result of the reduction in the Company's percentage interest in LMC, the Company no longer consolidates LMC's financial results with the Company's financial results and previous results of operations are reclassified as discontinued operations for financial reporting purposes. However, Ricardo Salas, the Company's Executive Vice President and Board member, continues to serve as a member of LMC's board of directors. In connection with the LMC Investment, the Company entered into a Second Amended and Restated Operating Agreement with LMC and other members of LMC, and the Company also entered into a Second Amended and Restated License and Technical Support Agreement with LMC terminating certain technology cross-licenses between LMC and the Company and continuing LMC's right to use the Liquidmetal trademark in connection with LMC's business. On December 1, 2011, the Company entered into a Share Purchase Agreement (the "Share Purchase Agreement") with LMTK Holdings, Inc. ("LMTK Holdings") to sell the Company's former Korean subsidiary and manufacturing facility, Liquidmetal Technologies Korea ("LMTK"), which was discontinued in November 2010. Under the Share Purchase Agreement, the Company sold all of LMTK's shares of common stock to LMTK Holdings for an aggregate purchase price of one hundred dollars. The previous results of operations of LMTK have been included as discontinued operations in the Company's consolidated financial statements, and as a result of the transaction, the Company no longer consolidates LMTK's financial results into the Company's consolidated financial statements. In June 2010, the Company created a wholly owned subsidiary, Advanced Metals Materials ("AMM"), in Weihei, China as a holding company for certain assets that were acquired in China. During the first quarter of 2011, AMM started production and manufacturing of certain bulk Liquidmetal alloys. On August 5, 2011, the Company sold all of the stock of AMM to Innovative Materials Group, which is majority owned by John Kang, a former Chief Executive Officer and Chairman of the Company, for $720, of which $200 was paid in the form of a promissory note due August 5, 2012, bearing an interest rate of 8% per annum. This promissory note is included in notes receivable in the Company's consolidated balance sheet. The Company believes that the balance of the promissory note is collected and is currently in discussions with Mr. Kang to provide an extension of the due date for additional consideration. The results of operations of AMM are included as discontinued operations in the Company's consolidated statements of operations and comprehensive loss (see note 13). On August 6, 2010, SAGA, SpA in Padova, Italy ("SAGA"), a specialist parts manufacturer, filed a litigation case against the Company claiming damages of $3.2 million for payment on an alleged loan and for alleged breach of contract in connection with the formation of joint venture called Liquidmetal SAGA Italy, Srl ("LSI"). On April 6, 2011 (the "Effective Date"), the Company entered into a Settlement and Equity Interest Purchase Agreement with SAGA pursuant to which (i) the joint venture between the Company and SAGA was terminated, (ii) the Company and SAGA both agreed to cause certain pending legal action against each other to be dismissed with prejudice, (iii) the Company paid SAGA $2.8 million in the form of 4,496,429 restricted shares ("Shares") of the Company's common stock in exchange for SAGA's equity interest in LSI, and (iv) the Liquidmetal technology license to LSI was terminated. The number of Shares issued to SAGA on the Effective Date was based on the 30 day trailing, volume weighted average price of the Company's stock as of the Effective Date. An additional provision of the SAGA Settlement and Equity Interest Purchase Agreement was the obligation of the Company to issue a promissory note to compensate for a decrease in the market price of the Company's common stock over a six month period from the Effective Date of the settlement. On October 10, 2011, the Company issued to SAGA a promissory note in the principal amount of $1,712 due October 10, 2012, bearing interest of 8% per annum, to account for the decrease in the market price of the Company's common stock. On July 11, 2012, the Company paid $1,743 to SAGA and paid off all amounts owed under the SAGA promissory note. On August 5, 2010, the Company entered into a license transaction with Apple Inc. ("Apple") pursuant to which (i) the Company contributed substantially all of its intellectual property assets to a newly organized special-purpose, wholly-owned subsidiary, called Crucible Intellectual Property, LLC ("CIP"), (ii) CIP granted to Apple a perpetual, worldwide, fully-paid, exclusive license to commercialize such intellectual property in the field of consumer electronic products, as defined in the license agreement, in exchange for a license fee, and (iii) CIP granted back to the Company a perpetual, worldwide, fully-paid, exclusive license to commercialize such intellectual property in all other fields of use. Additionally, in connection with the license transaction, Apple required the Company to complete a statement of work related to the exchange of Liquidmetal intellectual property information. The Company recognized a portion of the one-time license fee upon receipt of the initial payment and completion of the foregoing requirements under the license transaction. The remaining portion of the one-time license fee was recognized at the completion of the required statement of work. Under the agreements relating to the license transaction with Apple, the Company is obligated to contribute all intellectual property that it developed through February 2012 (and subsequently amended to extend through February 2014) to CIP. The Company is also obligated to maintain certain limited liability company formalities with respect to CIP at all times after the closing of the license transaction. |
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Significant Transactions No definition available.
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Liquidity and Going Concern Issues
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9 Months Ended |
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Sep. 30, 2012
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Liquidity and Going Concern Issues [Abstract] | |
Liquidity and Going Concern Issues | 4. Liquidity and Going Concern Issues For the nine months ended September 30, 2012, the Company's cash used in operating activities was $3,656, cash used in investing activities was $64, and cash provided by financing activities was $12,299. As of September 30, 2012, the Company had a cash balance of $8,701. On July 2, 2012, the Company entered into the July 2012 Private Placement transaction whereby the Company issued $12,000 of senior convertible notes that have a due date of September 1, 2013. Monthly installment payments under the notes began on October 1, 2012, and the installment payments may be made in cash, shares of the Company's common stock, or a combination thereof (see Note 3). As of the filing date of this report, the Company has issued 15,897,856 shares of common stock in full satisfaction of the October 1, 2012 and November 1, 2012 installment payments and issued 8,401,434 shares of common stock in anticipation of making the December 3, 2012 installment payment with stock. On October 10, 2011, the Company issued a promissory note to SAGA in the principal amount of $1,712 due October 10, 2012 in relation to a settlement agreement the Company signed with SAGA on April 6, 2011. On July 11, 2012, the Company paid $1,743 to SAGA and paid off all amounts owed under the SAGA promissory note (see Note 3). On June 1, 2012, the Company entered into the Visser MTA Agreement, whereby under the financing component of the agreement, the Company issued and sold to Visser 30,000,000 shares of common stock at a purchase price of $0.10 per share resulting in proceeds of $3,000 (see Note 3). The Company anticipates that its current capital resources will be sufficient to fund its operations through the end of 2013 as a result of the foregoing proceeds from the Visser MTA Agreement and the July 2012 Private Placement. However, if the Company chooses to or is required to pay back the notes issued in the July 2012 Private Placement in cash rather than in Company stock, the Company's current capital resources may not be sufficient to fund operations through the end of 2013. The Company has a relatively limited history of producing bulk amorphous alloy components and products on a mass-production scale. Furthermore, Visser's ability to produce the Company's products in desired quantities and at commercially reasonable prices is uncertain and is dependent on a variety of factors that are outside of its control, including the nature and design of the component, the customer's specifications, and required delivery timelines. Such factors may require that the Company raise additional funds to support its operations during 2013. If funding is insufficient at any time in the future, the Company may be required to alter or reduce the scope of its operations. |
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The entire disclosure regarding the entity's liquidity and going concern issues. No definition available.
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Prepaid Expenses and Other Current Assets
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9 Months Ended |
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Sep. 30, 2012
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Prepaid Expenses And Other Current Assets [Abstract] | |
Prepaid Expenses and Other Current Assets | 5. Prepaid Expenses and Other Current Assets On July 2, 2012, the Company entered into the July 2012 Private Placement (see note 3). In connection with this transaction, the Company capitalized legal and banking fees totaling $1,033 as deferred issuance costs. These deferred issuance costs will be amortized as debt discount amortization over the fourteen month term of the senior convertible notes under the transaction. Deferred issuance costs are included in prepaid expenses and other current assets in the Company's consolidated balance sheet and were $704 as of September 30, 2012, reflecting $329 of amortization expensed during the three months ended September 30, 2012. |
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The entire disclosure for prepaid expenses and other current assets. No definition available.
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Patents and Trademarks, net
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9 Months Ended |
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Sep. 30, 2012
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Patents and Trademarks, net [Abstract] | |
Patents and Trademarks, net | 6. Patents and Trademarks, net Patents and trademarks totaled $901 and $968 as of September 30, 2012 and December 31, 2011, respectively, and it primarily consists of purchased patent rights and internally developed patents. Purchased patent rights represent the exclusive right to commercialize the bulk amorphous alloy and other amorphous alloy technology acquired from California Institute of Technology ("Caltech"), through a license agreement with Caltech and other institutions. All fees and other amounts payable by the Company for these rights and licenses have been paid or accrued in full, and no further royalties, license fees or other amounts will be payable in the future under the license agreements. In addition to the purchased and licensed patents, the Company has internally developed patents. Internally developed patents include legal and registration costs incurred to obtain the respective patents. The Company currently holds various patents and numerous pending patent applications in the United States, as well as numerous foreign counterparts to these patents outside of the United States. Amortization expense for Patents and trademarks was $32 and $101 for the three and nine months ended September 30, 2012, respectively. Amortization expense for Patents and trademarks was $34 and $103 for the three and nine months ended September 30, 2011, respectively |
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The entire disclosure for all or part of the information related to intangible assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Short Term Debt
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9 Months Ended |
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Sep. 30, 2012
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Short Term Debt [Abstract] | |
Short Term Debt | 7. Short Term Debt On October 10, 2011, the Company issued to SAGA a promissory note in the principal amount of $1,712 due October 10, 2012 bearing interest of 8% per annum as part of a settlement agreement entered by the Company and SAGA on April 6, 2011. This settlement agreement related to a litigation case that was filed by SAGA against the Company in connection with an alleged loan and for an alleged breach of contract in connection with the formation of a joint venture (see note 3). The $1,712 principal amount of the note is included in Short Term Debt in the Company's consolidated balance sheet as of December 31, 2011. On July 11, 2012, the Company paid $1,743 to SAGA and paid off all amounts owed under the SAGA promissory note. Interest expense related to the promissory note for the three and nine months ended September 30, 2012 was $0 and $68, respectively. On January 17, 2012, February 27, 2012, March 28, 2012 and April 25, 2012, the Company issued 8% unsecured, bridge promissory notes to Visser that were due upon demand in the amount of $200, $200, $350 and $300, respectively. The aggregate principal amount of $1,050 and accrued interest under the bridge promissory notes were all paid off on June 1, 2012 by utilizing a portion of the proceeds received under the financing component of the Visser MTA Agreement (see note 3). Interest expense on the bridge promissory notes was $0 and $18 for the three and nine months ended September 30, 2012, respectively. |
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The entire disclosure for short-term debt. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Convertible Note and Embedded Conversion Feature Liability
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Convertible Note and Embedded Conversion Feature Liability | 8. Convertible Note and Embedded Conversion Feature Liability On July 2, 2012, the Company entered into the July 2012 Private Placement for $12,000 in principal amount of senior convertible notes due on September 1, 2013 (see note 3). The notes will be convertible at any time at the option of the holders, into shares of the Company's common stock at a conversion price of $0.352 per share. Pursuant to ASC 815-40, due to the anti-dilution provision of the convertible notes, the conversion feature of the convertible notes is not indexed to the Company's owned stock and should be bifurcated and recognized as a derivative liability in the consolidated balance sheets and measured at fair value. The notes bear interest at 8% per annum and are payable in twelve equal monthly installments of principal and interest beginning on October 1, 2012. The embedded conversion feature liability and warrants issued in connection with the senior convertible notes were valued utilizing the Monte Carlo simulation and Black Sholes pricing model at $8,865 and $5,053, respectively, totaling $13,918 as of July 2, 2012. $12,000 of this total was recorded as debt discount and the excess of the face value of the embedded conversion feature liability and warrants of $1,918 was booked to debt discount amortization on July 2, 2012. Pursuant to the terms of the senior convertible note, the Company opted to pay the first monthly installment payment due on October 1, 2012 with shares of the Company's common stock. On August 31, 2012, the Company issued 5,059,163 shares of common stock ("Pre-issuance") at a conversion price of $0.2451 in anticipation of making the October 1, 2012 installment payment of $1,240, consisting of $1,000 principal pay down and $240 of accrued interest. Interest expense on the convertible notes was $240 for the three and nine months ended September 30, 2012 and the Convertible Note (net of debt discount) was $2,823 as of September 30, 2012 as follows:
As of September 30, 2012, the Company re-valued the embedded derivatives under the senior convertible note with the Monte Carlo simulation model under the following assumptions; (i) expected life of 0.92 years, (ii) volatility of 149%, (iii) risk-free interest rate of 0.17%, and (iv) dividend rate of 0. As of September 30, 2012, the embedded derivative was valued at $6,080 and the variance of $2,785 was recorded as a change in value of embedded conversion feature liability for the three months and nine months ended September 30, 2012. The embedded derivatives are classified as embedded conversion feature liability in the consolidated balance sheet as follows:
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The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Warrant Liability
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Sep. 30, 2012
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Warrant Liability | 9. Warrant Liability Pursuant to FASB ASC 815, the Company is required to report the value of certain warrants as a liability at fair value and record the changes in the fair value of the warrant liabilities as a gain or loss in its statement of operations and comprehensive loss due to the price-based anti-dilution rights of warrants. As of December 31, 2011, 4,675,143 warrants were valued as liabilities under FASB ASC 815, and these warrants expired on January 3, 2012. The Company valued the 4,675,143 warrants using the Black-Scholes valuation model and recorded $0 in warrant liabilities as of December 31, 2011. During June 2012, the Company issued warrants to purchase a total of 15,000,000 shares to Visser under the Visser MTA Agreement (see note 3). These warrants have an exercise price of $0.22 per share and expire on June 1, 2017 and were originally valued at $4,260. The foregoing warrants have certain anti-dilution and exercise price reset provisions which qualify the warrants to be classified as a liability under FASB ASC 815. As of September 30, 2012, these warrants were valued at $2,400 under the Black Sholes valuation model utilizing the following assumptions; (i) expected life of 4.67 years, (ii) volatility of 151%, (iii) risk-free interest rate of 0.64%, and (iv) dividend rate of 0. The change in warrant valuation for these warrants for the three and nine months ended September 30, 2012 was a gain of $2,033 and $1,860, respectively. On July 2, 2012, the Company issued warrants to purchase a total of 18,750,000 shares related to the July 2012 Private Placement (see note 3). These warrants have an exercise price of $0.384 per share and expire on July 2, 2017 and were originally valued at $5,053. The foregoing warrants have certain anti-dilution and exercise price reset provisions which qualify the warrants to be classified as a liability under FASB ASC 815. As of September 30, 2012, these warrants were valued at $2,902 under the Black Sholes valuation model utilizing the following assumptions; (i) expected life of 4.75 years, (ii) volatility of 151%, (iii) risk-free interest rate of 0.64%, and (iv) dividend rate of 0. The change in warrant valuation for these warrants for both the three months and nine months ended September 30, 2012 was a gain of $2,151. The following table summarizes the change in the Company's warrant liability as of September 30, 2012:
The Company had warrants to purchase 63,529,557 and 44,707,976 shares outstanding as of September 30, 2012 and December 31, 2011, respectively. Of these warrants, warrants to purchase 33,750,000 and 4,675,143 shares were valued and classified as a liability under FASB ASC 815 (see note 12). |
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The entire disclosure for the fair valuation of outstanding warrants as of the report date calculated using the Black Scholes valuation method. No definition available.
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Other Long-term Liabilities
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9 Months Ended |
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Sep. 30, 2012
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Other Long-term Liabilities [Abstract] | |
Other Long-term Liabilities | 10. Other Long-term Liabilities Other Long-term Liabilities balance of $856 and $609 as of September 30, 2012 and December 31, 2011, respectively, consists of long term, aged payables to vendors, individuals, and other third parties that have been outstanding for more than 5 years. The Company is in the process of researching and resolving the balances for settlement and/or write-off. |
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The entire disclosure for other liabilities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Stock Compensation Plan
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9 Months Ended |
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Sep. 30, 2012
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Stock Compensation Plan [Abstract] | |
Stock Compensation Plan | 11. Stock Compensation Plan Under the Company's 2002 Equity Incentive Plan which provided for the grant of stock options to officers, employees, consultants and directors of the Company and its subsidiaries, the Company granted options to purchase the Company's common stock. All options granted under this plan had exercise prices that were equal to the fair market value on the date of grant. During the three and nine months ended September 30, 2012, the Company did not grant any options. Under this plan, the Company had grants of options to purchase 4,042,000 and 4,679,807 shares outstanding as of September 30, 2012 and December 31, 2011, respectively. On June 28, 2012, the Company adopted the 2012 Equity Incentive Plan, with the approval of the shareholders, which provided for the grant of stock options to officers, employees, consultants and directors of the Company and its subsidiaries. All options granted under this plan had exercise prices that were equal to the fair market value on the date of grant. During the three and nine months ended September 30, 2012, the Company granted options to purchase 310,000 shares and had awards covering 310,000 shares outstanding as of September 30, 2012. |
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The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Shareholders' Deficit
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9 Months Ended |
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Sep. 30, 2012
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Shareholders' Deficit [Abstract] | |
Shareholders' Deficit | 12. Shareholders' Deficit Common stock During the year ended December 31, 2011, the Company issued 4,496,429 shares of common stock to settle a lawsuit with SAGA, a former joint venture partner in Italy (see note 3). In June 2012, the Company issued 30,000,000 shares of common stock to Visser in connection with the Visser MTA Agreement (see note 3). On August 31, 2012, the Company issued 5,059,163 shares of common stock at a conversion price of $0.2451 in anticipation of making the $1,240 installment payment due on October 1, 2012 with Company's common stock, under the July 2012 Private Placement senior convertible note (see note 3 and 8). Preferred stock On May 1, 2009, pursuant to a Securities Purchase and Exchange Agreement, the Company issued 500,000 shares of convertible Series A-1 Preferred Stock with an original issue price of $5.00 per share and 2,625,000 shares Series A-2 Preferred Stock with an original issue price of $5.00 per share as part of a financing transaction. In connection with the Series A Preferred Stock issuance, the Company issued warrants to purchase 42,329,407 shares of the Company's common stock at an exercise price of $0.50 per share, which was subsequently adjusted to $0.49 per share due to an anti-dilution calculation. The warrants had an expiration date of January 3, 2012. In October 2009, the Company entered into an agreement with various investors to issue 180,000 shares of Series A-1 Preferred Stock with identical terms as the Series A-1 Preferred Stock issued on May 1, 2009. In connection with this issuance, the Company issued warrants to purchase up to 4,500,000 shares of common stock with an exercise price of $0.50 per share, which was subsequently adjusted to $0.49 per share due to an anti-dilution calculation. These warrants also had an expiration date of January 3, 2012. The Series A Preferred Stock formerly accrued cumulative dividends at an annual rate of 8%, which were payable semi-annually. On November 2, 2010, the Company filed an Amended and Restated Certificate of Designations, Preferences, and Rights (the "Amended Designation") for the Company's Series A Preferred Stock. The Amended Designation was approved by the requisite vote of the holders of the Company's Series A Preferred Stock and was filed with the Delaware Secretary of State in accordance with a Consent Agreement entered into between the Company and the holders of 2/3 of the Series A Preferred Stock (the "Consent Agreement"). The Amended Designation amended the terms of the Series A Preferred Stock by providing that (i) dividends ceased accruing thereon as of June 1, 2010, (ii) the liquidation preference and corresponding conversion value on the Series A Preferred Stock was increased from 1.0 to 1.08 of the sum of the issue price and accrued but unpaid dividends, (iii) the Series A Preferred Stock was now mandatorily convertible at any time at the option of the Company without condition, and (iv) the Series A Preferred Stock will no longer have any price-based anti-dilution rights. The Consent Agreement provided that, in exchange for voting in favor of the Amended Designation, the warrants held by the holders signing the Consent Agreement (to the extent such warrants were issued in connection with the original issuance of the Series A Preferred Stock) would be extended to an expiration date of July 2015 and the price-based anti-dilution rights on such warrants were removed. Additionally, the Company has the right at any time to redeem the Series A Preferred Stock in whole or in part upon not less than 30 days' notice at a redemption price equal to the liquidation preference plus any accrued and unpaid dividends. The Series A Preferred Stock and any accrued and unpaid dividends thereon is convertible, at the option of the holder of the Series A Preferred Stock, into common stock of the Company at a conversion price of $.10 per share in the case of the Series A-1 Preferred Stock and a conversion price of $.22 per share in the case of the Series A-2 Preferred Stock (in both cases subject to adjustments for any stock dividends, splits, combinations and similar events). As of September 30, 2012 and December 31, 2011, the Company had accrued dividends of $222 and $571, respectively. During the nine months ended September 30, 2012, the holders of the Company's Series A Preferred Stock converted 792,215 shares of preferred stock into 25,669,752 shares of the Company's common stock. The Company had 105,231 and 246,371 shares of the Series A-1 Preferred Stock outstanding at September 30, 2012 and December 31, 2011, respectively. The Company had 401,705 and 1,052,780 shares of the Series A-2 Preferred Stock outstanding at September 30, 2012 and December 31, 2011, respectively. Warrants The warrant holders who signed the Consent Agreement held warrants to purchase an aggregate of 40,032,833 shares of the Company's common stock (the "Consent Warrants"). As of November 2, 2010, the date of the Amended Designation, there were warrants to purchase 47,232,459 shares of the Company's common stock outstanding. The Consent Warrants were initially recorded as liabilities on the Company's consolidated financial statements in accordance with FASB ASC 815 due to their price-based anti-dilution rights. Upon the removal of the anti-dilution rights with the Consent Agreement, the Consent Warrants no longer met the criteria under FASB ASC 815 and were reclassified as equity as of the date of the Amended Designation. The Company reclassified $24,438 from warrant liabilities into equity on November 2, 2010, and this amount is reflected as Warrants in the consolidated statement of shareholders' deficit as of December 31, 2011. Warrants classified as equity was reduced to $18,179 as of September 30, 2012 as a result of the cashless exercise of warrants to purchase 10,253,276 shares of the Company's common stock in April 2012. As of September 30, 2012 and December 31, 2011, warrants to purchase 29,779,557 and 40,032,833 shares of the Company's common stock, respectively, were classified as equity. All of such warrants expire on July 15, 2015. |
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- Definition
The entire disclosure for shareholders' equity, comprised of portions attributable to the parent entity and noncontrolling interest, if any, including other comprehensive income (as applicable). Including, but not limited to: (1) balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings; (2) accumulated balance for each classification of other comprehensive income and total amount of comprehensive income; (3) amount and nature of changes in separate accounts, including the number of shares authorized and outstanding, number of shares issued upon exercise and conversion, and for other comprehensive income, the adjustments for reclassifications to net income; (4) rights and privileges of each class of stock authorized; (5) basis of treasury stock, if other than cost, and amounts paid and accounting treatment for treasury stock purchased significantly in excess of market; (6) dividends paid or payable per share and in the aggregate for each class of stock for each period presented; (7) dividend restrictions and accumulated preferred dividends in arrears (in aggregate and per share amount); (8) retained earnings appropriations or restrictions, such as dividend restrictions; (9) impact of change in accounting principle, initial adoption of new accounting principle and correction of an error in previously issued financial statements; (10) shares held in trust for Employee Stock Ownership Plan (ESOP); (11) deferred compensation related to issuance of capital stock; (12) note received for issuance of stock; (13) unamortized discount on shares; (14) description, terms, and number of warrants or rights outstanding; (15) shares under subscription and subscription receivables, effective date of new retained earnings after quasi-reorganization and deficit eliminated by quasi-reorganization and, for a period of at least ten years after the effective date, the point in time from which the new retained dates; and (16) retroactive effective of subsequent change in capital structure. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Discontinued Operations and Long-Lived Assets to be Disposed of
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9 Months Ended |
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Sep. 30, 2012
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Discontinued Operations and Long-Lived Assets to be Disposed of [Abstract] | |
Discontinued Operations and Long-Lived Assets to be Disposed of | 13. Discontinued Operations and Long-Lived Assets to be Disposed of LMC On December 20, 2011, the Company's former majority owned subsidiary, Liquidmetal Coatings, LLC ("LMC"), entered into a transaction pursuant to which LMC issued and sold additional membership interests to a related party and to third-party investors for an aggregate purchase price of $3,000 (the "LMC Investment"). The LMC Investment was entered into pursuant to a Membership Interest Purchase Agreement between the investors and LMC (the "Purchase Agreement"). The investors in the LMC Investment were Rockwall Holdings, Inc. ("Rockwall") and C3 Capital Partners, L.P. and C3 Capital Partners II, L.P. (the "C3 Entities"). The C3 Entities were minority investors in LMC prior to the transaction, and Rockwall is a company controlled by John Kang, a former Chief Executive Officer and Chairman of the Company. The transactions contemplated by the Purchase Agreement were deemed to be effective as of November 30, 2011. In connection with the LMC Investment, the Company and C3 Entities agreed to terminate a letter agreement, dated July 30, 2010, under which the Company would have been obligated to contribute additional capital to LMC if requested by LMC. As a result of the LMC Investment and the termination of such letter agreement, the Company no longer has any contingent obligation to contribute additional capital to LMC and consequently the Company's equity interest in LMC was reduced from approximately 72.86% to 0.67%. However, the Company did not sell any of its own membership interests in LMC in the transaction. As a result of the reduction in the Company's percentage interest in LMC, the Company no longer consolidates LMC's financial results with the Company's financial results, and LMC's financial results are included as discontinued operations for financial reporting purposes. However, Ricardo Salas, the Company's Executive Vice President and Board Member, will continue to serve as a member of LMC's board of directors. AMM In June 2010, the Company created a wholly owned subsidiary, Advanced Metals Materials ("AMM"), in Weihei China as a holding company for certain assets that were acquired in China. During the first quarter of 2011, AMM started production and manufacturing of certain bulk Liquidmetal alloys. On August 5, 2011, the Company sold all of the stock of AMM to Innovative Materials Group, which is majority owned by John Kang, a former Chief Executive Officer and Chairman of the Company, for $720, of which $200 was paid in the form of a promissory note due August 5, 2012, bearing an interest rate of 8% per annum. This promissory note is presented as a related party notes receivable in the Company's consolidated balance sheet at September 30, 2012 and December 31, 2011. The Company believes that the balance of the promissory note is collected and is currently in discussions with Mr. Kang to provide an extension of the due date for additional consideration. The results of operations of AMM are included as discontinued operations for financial reporting purposes through August 5, 2011. LMTK In 2003, the Company set up a manufacturing plant in South Korea, Liquidmetal Technologies Korea ("LMTK"), to handle its bulk Liquidmetal alloys business which included manufacturing and selling components made out of bulk alloys. During 2010 and prior years, LMTK experienced net losses and due to the uncertainty surrounding its future cash flows the Company re-evaluated its investment for recoverability. As a result, in November 2010, the Company decided to discontinue LMTK's operations. On December 1, 2011, the Company entered into a Share Purchase Agreement (the "Share Purchase Agreement") with LMTK Holdings, Inc. ("LMTK Holdings") to sell LMTK. Under the Share Purchase Agreement, the Company sold all of LMTK's shares of common stock to LMTK Holdings for an aggregate purchase price of one hundred dollars. The results of operations of LMTK have been included as discontinued operations in the Company's consolidated statements of operations and comprehensive loss through December 1, 2011. Loss, net of tax, from the disposal of the foregoing entities was $331 for the three and nine month periods ended September 30, 2011, respectively. Loss from operations of discontinued operations for the foregoing entities was $96 and $637 for the three and nine months ended September 30, 2011, respectively. |
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- Definition
The entire disclosure for the facts and circumstances leading to the completed or expected disposal, manner and timing of disposal, the gain (loss) recognized in the income statement and the income statement caption that includes that gain (loss), amounts of revenues and pretax profit or loss reported in discontinued operations, the segment in which the disposal group was reported, and the classification (whether sold or classified as held for sale) and carrying value of the assets and liabilities comprising the disposal group. Includes all disposal groups, including those classified as components of the entity (discontinued operations). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Loss Per Common Share
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9 Months Ended |
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Sep. 30, 2012
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Loss Per Common Share [Abstract] | |
Loss Per Common Share | 14. Loss Per Common Share Basic earnings per share ("EPS") is computed by dividing earnings (loss) attributable to common shareholders by the weighted average number of common shares outstanding for the periods. Diluted EPS reflects the potential dilution of securities that could share in the earnings. Options to purchase 4,352,000 shares of common stock at prices ranging from $0.09 to $15.00 per share were outstanding at September 30, 2012, but were not included in the computation of diluted EPS for the same period as the inclusion would have been antidilutive. Warrants to purchase 63,529,557 shares of common stock with prices ranging from $0.22 to $0.49 per share outstanding at September 30, 2012 were not included in the computation of diluted EPS for the same period as the inclusion would have been antidilutive. 16,896,073 shares of common stock issuable upon conversion of the Company's convertible preferred stock with conversion prices ranging from $0.10 and $0.22 per share outstanding at September 30, 2012 were not included in the computation of diluted EPS for the same period because the inclusion would have been antidilutive. Shares issuable upon conversion or installment payments with common stock under the July 2012 Private Placement, senior convertible note were not included in the computation of diluted EPS for the same period because the inclusion would have been antidilutive (see note 8). Options to purchase 6,545,963 shares of common stock at prices ranging from $.09 to $15.00 per share were outstanding at September 30, 2011, but were not included in the computation of diluted EPS for the same period as the inclusion would have been antidilutive. Warrants to purchase 44,707,976 shares of common stock with prices ranging from $0.48 to $0.59 per share outstanding at September 30, 2011 were not included in the computation of diluted EPS for the same period as the inclusion would have been antidilutive. 59,446,42 shares of common stock issuable upon conversion of the Company's convertible preferred stock with conversion prices ranging from $0.10 and $0.22 per share outstanding at September 30, 2011 were not included in the computation of diluted EPS for the same period because the inclusion would have been antidilutive. |
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- Definition
The entire disclosure for earnings per share. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Commitments and Contingencies
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9 Months Ended |
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Sep. 30, 2012
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Commitments and Contingencies [Abstract] | |
Commitments and Contingencies | 15. Commitments and Contingencies The Company leases its office and warehouse facility under a lease agreement that expires on April 30, 2016. Rent payments are subject to escalations through the end of the lease term. Rent expense was $46 and $144 for the three and nine months ended September 30, 2012, respectively. Rent expense was $49 and $174 for the three and nine months ended September 30, 2011, respectively. |
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- Definition
The entire disclosure for commitments and contingencies. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Related Party Transactions
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9 Months Ended |
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Sep. 30, 2012
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Related Party Transactions [Abstract] | |
Related Party Transactions | 16. Related Party Transactions On August 1, 2010, the Company entered into an agreement with John Kang, a former Chief Executive Officer and Chairman of the Company, to provide consulting services. The Company terminated this agreement as of July 31, 2011. The Company incurred $82 and $210 for his services during the three and nine months ended September 30, 2011, respectively. On October 14, 2010, the Company signed an agreement with Innovative Materials Group, LLC ("IMG"), a California limited liability company, which is majority owned by Mr. Kang. Under the agreement, the Company received a deposit of $520 from IMG to purchase on behalf of IMG, machinery and equipment located in China. The transaction was based on the potential negotiation and completion of a non-exclusive license agreement with IMG under which the machinery and equipment would be transferred to IMG either directly or through the transfer of ownership of the Company's Chinese subsidiary, Advanced Metals Materials ("AMM"), that owns the equipment. On August 5, 2011, the Company signed a Stock Purchase Agreement (the "Stock Purchase Agreement") with IMG to sell all of the stock of AMM for $720 (the "Purchase Price"). IMG applied the payment of the Purchase Price the $520 deposit previously paid to the Company and the $200 balance of the Purchase Price was paid in the form of a Promissory Note due August 5, 2012, bearing an interest rate of 8% per annum. The $200 note receivable is presented as a related party notes receivable in the Company's consolidated balance sheet at September 30, 2012 and December 31, 2011. Interest shall accrue and be paid at maturity along with the principal balance. The Company believes that the balance of the promissory note is collected and is currently in discussions with Mr. Kang to provide an extension of the due date for additional consideration. In conjunction with the Stock Purchase Agreement, the Company also entered into a License Agreement (the "License Agreement") with IMG to license certain patents and technical information for the limited purpose of manufacturing certain licensed products with the Company's existing first generation, die cast machines, as defined by the License Agreement (the "Licensed Products"). The License Agreement grants a non-exclusive license to certain product categories listed in the License Agreement, as well as an exclusive license to specific types of consumer eyewear products. The License Agreement obligates IMG to pay the Company a running royalty based on its sales of Licensed Products, and the license will expire on August 5, 2021. The Company recognized $7 and $26 in royalty revenues from IMG during the three and nine months ended September 30, 2012, respectively. On December 20, 2011, Rockwall Holdings, Inc., a company controlled by Mr. Kang, entered into a transaction as one of the primary investors in Liquidmetal Coatings, LLC ("LMC"), our former subsidiary (see note 3). During the three and nine months ended September 30, 2012, the Company incurred $0 and $2 in legal fees, respectively, to defend Mr. Kang, as the former Representative Director of our Korean subsidiary, against allegations relating to the Company's Korean subsidiary's involvement in customs reporting violations in South Korea that allegedly occurred in 2007 and 2008. There were no such expenses for the three and nine months ended September 30, 2011. The Company has agreed to reimburse Mr. Kang's legal fees incurred on this issue through December 31, 2012. In October 2009, Thomas Steipp, the Company's President and Chief Executive Officer, Ricardo Salas, the Company's Executive Vice President and Director, Tony Chung, the Company's Chief Financial Officer, and Mr. Kang acquired a total of 100,000 shares of the Company's Series A-1 Preferred Stock and warrants to purchase 2,500,000 shares of the Company's common stock for an aggregate cash price of $495. The Series A-1 Preferred Stock is convertible into the Company's common stock at a conversion price of $0.10 per common share. Furthermore, the warrants can be exercised for shares of the Company's common stock at an exercise price of $0.49 per share and will expire on July 31, 2015. In April 2011, Mr. Steipp converted his 20,000 shares of Series A-1 Preferred Stock into a total of 1,130,688 shares of the Company's common stock, including dividends received in the form of common stock. In July 2011, Mr. Salas and Mr. Kang converted 50,000 and 19,000 shares of Series A-1 Preferred Stock, respectively, into a total of 2,826,720 and 1,074,154 shares of the Company's common stock, respectively, including dividends received in the form of common stock. On February 1, 2012, Mr. Chung converted his 10,000 shares of Series A-1 Preferred Stock into a total of 565,344 shares of the Company's common stock, including dividends received in the form of common stock. In May 2009, the Company completed a transaction in which (i) the holders of the Company's 8% Convertible Subordinated Notes exchanged such notes for a combination of new 8% Senior Secured Convertible Notes and shares of a new series of convertible preferred stock designated as "Series A-2 Preferred Stock," together with warrants thereon, and (ii) certain investors purchased, for an aggregate purchase price of $2,500, shares of a new series of convertible preferred stock designated as "Series A-1 Preferred Stock" (See note 12). The lead investors in this transaction were Carlyle Liquid, LLC and Carlyle Liquid Holdings, LLC (the "Carlyle Entities"), which were organized by Abdi Mahamedi, the Company's Chairman. Mr. Mahamedi became a greater-than-5% beneficial owner of the Company by reason of the May 2009 transaction and remained as such as of September 30, 2012. The Company has an exclusive license agreement with LLPG, Inc. ("LLPG"), a corporation owned principally by Jack Chitayat, former director of the Company who ceased to be director in 2005. Under the terms of the agreement, LLPG has the right to commercialize Liquidmetal alloys, particularly precious-metal based compositions, in jewelry and high-end luxury product markets. The Company, in turn, will receive royalty payments over the life of the contract on all Liquidmetal products produced and sold by LLPG. The exclusive license agreement with LLPG expires on December 31, 2021. There were no revenues recognized from product sales and licensing fees from LLPG during 2012 and 2011. As of September 30, 2012, Mr. Chitayat is a greater-than-5% beneficial owner of the Company. On August 3, 2010, Tom Steipp received 6,000,000 restricted shares of the Company's stock as part of his employment agreement with the Company. These shares shall vest annually in 20% increments on each anniversary date of the employment agreement. On July 27, 2011, the employment agreement was amended to defer the first anniversary vesting date from August 3, 2011 to December 15, 2011. On July 31, 2012, the employment agreement was amended to defer the second anniversary vesting date from August 3, 2012 to December 15, 2012. On December 31, 2011, the Company accrued $27 of pro-rated fees for Robert Biehl's services as a Director and Audit Committee Chairman prior to his resignation on August 3, 2011 and also accrued $18 of fees earned by Mr. Biehl in connection with leadership consulting services performed for our executive management during 2011. The balances were paid off in June 2012. On June 1, 2012, the Company entered into a Master Transaction Agreement with Visser Precision Cast, LLC relating to a strategic transaction for manufacturing services and financing (see note 3). As of September 30, 2012, Visser is a greater-than-5% beneficial owner of the Company. |
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- Definition
The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Basis of Presentation and Accounting Policies (Policies)
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9 Months Ended | ||||||
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Sep. 30, 2012
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Basis of Presentation and Accounting Policies [Abstract] | |||||||
Revenue Recognition | Revenue Recognition Revenue is recognized pursuant to applicable accounting standards including FASB ASC Topic 605 ("ASC 605"), Revenue Recognition. ASC 605 summarizes certain points of the SEC staff's views in applying generally accepted accounting principles to revenue recognition in financial statements and provides guidance on revenue recognition issues in the absence of authoritative literature addressing a specific arrangement or a specific industry. The Company's revenue recognition policy complies with the requirements of ASC 605. Revenue is recognized when (i) persuasive evidence of an arrangement exists, (ii) delivery has occurred, (iii) the sales price is fixed or determinable, (iv) collection is probable and (v) all obligations have been substantially performed pursuant to the terms of the arrangement. Revenues primarily consist of the sales and prototyping of Liquidmetal mold and bulk alloys as well as licensing and royalties for the use of the Liquidmetal brand and bulk Liquidmetal alloys. Revenue is deferred and included in liabilities when the Company receives cash in advance for goods not yet delivered or if the licensing term has not begun. License revenue arrangements in general provide for the grant of certain intellectual property rights for patented technologies owned or controlled by the Company. These rights typically include the grant of an exclusive or non-exclusive right to manufacture and/or sell products covered by patented technologies owned or controlled by the Company. The intellectual property rights granted may be perpetual in nature, extending until the expiration of the related patents, or can be granted for a defined period of time. Licensing revenues that are one time fees upon the granting of the license are recognized when (i) the license term begins in a manner consistent with the nature of the transaction and the earnings process, (ii) collectability is reasonably assured or upon receipt of an upfront fee, and (iii) all other revenue recognition criteria have been met. Pursuant to the terms of these agreements, the Company has no further obligation with respect to the grant of the license. Licensing revenues that are related to royalties are recognized as the royalties are earned over the related period. |
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Fair Value of Financial Instruments | Fair Value Measurements The estimated fair values of amounts reported in the consolidated financial statements have been determined using available market information and valuation methodologies, as applicable. The fair value of cash and trade receivables approximate their carrying value due to their short maturities. The fair value of non-current assets and liabilities approximate their carrying value unless otherwise stated. The carry amounts reported for debt obligations approximate fair value due to the effective interest rate of these obligations reflecting the Company's current borrowing rate. Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Entities are required to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value based upon the following fair value hierarchy:
The Company has one Level 2 financial instrument, warrants that are recorded at fair value on a periodic basis. Warrants are evaluated under the hierarchy of FASB ASC Subtopic 480-10, FASB ASC Paragraph 815-25-1 and FASB ASC Subparagraph 815-10-15-74 addressing embedded derivatives. The fair value of such warrants is estimated using the Black-Scholes option pricing model. The foregoing warrants have certain anti-dilution and exercise price reset provisions which qualify the warrants to be classified as a liability under FASB ASC 815 (see note 9). The Company has one Level 3 financial instrument, an embedded derivative that is recorded at fair value on a periodic basis. The embedded derivative is evaluated under the hierarchy of FASB ASC Subtopic 480-10, FASB ASC Paragraph 815-25-1 and FASB ASC Subparagraph 815-10-15-74 addressing embedded derivatives. The fair value of such embedded derivative is estimated using the Monte Carlo simulation model. The foregoing embedded derivative has certain anti-dilution and exercise price reset provisions which qualify the embedded derivative to be classified as a liability under FASB ASC 815 (see notes 8). |
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- Definition
Disclosure of accounting policy for determining the fair value of financial instruments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Disclosure of accounting policy for revenue recognition. If the entity has different policies for different types of revenue transactions, the policy for each material type of transaction is generally disclosed. If a sales transaction has multiple element arrangements (for example, delivery of multiple products, services or the rights to use assets) the disclosure may indicate the accounting policy for each unit of accounting as well as how units of accounting are determined and valued. The disclosure may encompass important judgment as to appropriateness of principles related to recognition of revenue. The disclosure also may indicate the entity's treatment of any unearned or deferred revenue that arises from the transaction. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Basis of Presentation and Accounting Policies (Tables)
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9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Sep. 30, 2012
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Basis of Presentation and Accounting Policies [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Company's fair value hierarchy for items that are required to be measured at fair value on a recurring basis | As of September 30, 2012, the following table represents the Company's fair value hierarchy for items that are required to be measured at fair value on a recurring basis:
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Tabular disclosure of liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). Where the quoted price in an active market for the identical liability is not available, the Level 1 input is the quoted price of an identical liability when traded as an asset. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Convertible Note and Embedded Conversion Feature Liability (Tables)
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9 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Sep. 30, 2012
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Convertible Note, net of debt discount | Interest expense on the convertible notes was $240 for the three and nine months ended September 30, 2012 and the Convertible Note (net of debt discount) was $2,823 as of September 30, 2012 as follows:
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Embedded derivatives classified as embedded conversion feature liability | As of September 30, 2012, the Company re-valued the embedded derivatives under the senior convertible note with the Monte Carlo simulation model under the following assumptions; (i) expected life of 0.92 years, (ii) volatility of 149%, (iii) risk-free interest rate of 0.17%, and (iv) dividend rate of 0. As of September 30, 2012, the embedded derivative was valued at $6,080 and the variance of $2,785 was recorded as a change in value of embedded conversion feature liability for the three months and nine months ended September 30, 2012. The embedded derivatives are classified as embedded conversion feature liability in the consolidated balance sheet as follows:
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- Definition
The tabular disclosure for embedded derivatives and on what basis an embedded derivative was deemed to be separable or inseparable from the host instrument. No definition available.
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- Definition
Tabular disclosure of information pertaining to short-term and long-debt instruments or arrangements, including but not limited to identification of terms, features, collateral requirements and other information necessary to a fair presentation. No definition available.
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Warrant Liability (Tables)
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Sep. 30, 2012
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Change in the Company's warrant liability | The following table summarizes the change in the Company's warrant liability as of September 30, 2012:
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- Definition
Tabular disclosure of warrants or rights issued. Warrants and rights outstanding are derivative securities that give the holder the right to purchase securities (usually equity) from the issuer at a specific price within a certain time frame. Warrants are often included in a new debt issue to entice investors by a higher return potential. The main difference between warrants and call options is that warrants are issued and guaranteed by the company, whereas options are exchange instruments and are not issued by the company. Also, the lifetime of a warrant is often measured in years, while the lifetime of a typical option is measured in months. Disclose the title of issue of securities called for by warrants and rights outstanding, the aggregate amount of securities called for by warrants and rights outstanding, the date from which the warrants or rights are exercisable, and the price at which the warrant or right is exercisable. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Description of Business (Details)
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9 Months Ended |
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Sep. 30, 2012
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Description of Business [Abstract] | |
Percentages of stronger than zirconium-titanium Liquidmetal alloys (in hundredths) | 250.00% |
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- Definition
Represents percentages of stronger than zirconium-titanium Liquidmetal alloys. No definition available.
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Basis of Presentation and Accounting Policies (Details) (Recurring [Member], USD $)
In Thousands, unless otherwise specified |
Sep. 30, 2012
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Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract] | |
Embedded conversion feature liability | $ 0 |
Warrant liabilities | 0 |
Level 1 [Member]
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Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract] | |
Embedded conversion feature liability | 0 |
Warrant liabilities | 0 |
Level 2 [Member]
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Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract] | |
Embedded conversion feature liability | 0 |
Warrant liabilities | 5,302 |
Level 3 [Member]
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Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract] | |
Embedded conversion feature liability | 6,080 |
Warrant liabilities | $ 0 |
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- Definition
Fair value as of the balance sheet date of the embedded derivative or group of embedded derivatives classified as a liability. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Portion of the balance sheet assertion valued at fair value by the entity whether such amount is presented as a separate caption or as a parenthetical disclosure. Additionally, this element may be used in connection with the fair value disclosures required in the footnote disclosures to the financial statements. The element may be used in both the balance sheet and disclosure in the same submission. This item represents warrants not settleable in cash classified as equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Significant Transactions (Details) (USD $)
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3 Months Ended | 9 Months Ended | 9 Months Ended | 9 Months Ended | 9 Months Ended | 0 Months Ended | 1 Months Ended | 9 Months Ended | 12 Months Ended | 3 Months Ended | 9 Months Ended | ||||||||||||||||||||||
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Sep. 30, 2012
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Sep. 30, 2011
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Sep. 30, 2012
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Sep. 30, 2011
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Jul. 02, 2012
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Dec. 31, 2011
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Sep. 30, 2012
AMM [Member]
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Sep. 30, 2012
Liquidmetal Coatings, LLC [Member]
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Sep. 30, 2012
Liquidmetal Coatings, LLC [Member]
Before Contract Termination [Member]
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Sep. 30, 2012
Liquidmetal Coatings, LLC [Member]
After Contract Termination [Member]
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Apr. 06, 2011
SAGA, SpA [Member]
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Sep. 30, 2012
Convertible Notes Payable [Member]
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Aug. 31, 2012
Convertible Notes Payable [Member]
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Jul. 02, 2012
Convertible Notes Payable [Member]
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Sep. 30, 2012
Unsecured bridge promissory note [Member]
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Apr. 25, 2012
Unsecured bridge promissory note [Member]
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Mar. 28, 2012
Unsecured bridge promissory note [Member]
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Feb. 27, 2012
Unsecured bridge promissory note [Member]
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Jan. 17, 2012
Unsecured bridge promissory note [Member]
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Sep. 30, 2012
Promissory Note from Innovative Materials Group [Member]
AMM [Member]
|
Oct. 10, 2012
SAGA Promissory Note [Member]
|
Jul. 11, 2012
SAGA Promissory Note [Member]
|
Oct. 31, 2011
SAGA Promissory Note [Member]
|
Sep. 30, 2012
SAGA Promissory Note [Member]
|
Oct. 10, 2011
SAGA Promissory Note [Member]
|
Dec. 31, 2010
SAGA Promissory Note [Member]
SAGA, SpA [Member]
|
Sep. 30, 2012
Private Placement [Member]
Convertible Notes Payable [Member]
|
Sep. 30, 2012
Private Placement [Member]
Convertible Notes Payable [Member]
|
Sep. 30, 2012
Private Placement [Member]
Convertible Notes Payable [Member]
Warrants part of Additional Paid-In Capital [Member]
|
Sep. 30, 2012
Visser MTA Agreement [Member]
|
Sep. 30, 2012
Visser MTA Agreement [Member]
Warrants part of Additional Paid-In Capital [Member]
|
Sep. 30, 2012
Visser MTA Agreement [Member]
Secured Convertible Promissory [Member]
|
Jun. 30, 2012
Visser MTA Agreement [Member]
Secured Convertible Promissory [Member]
|
|
Debt Instrument [Line Items] | |||||||||||||||||||||||||||||||||
Note issuance date | Jul. 02, 2012 | ||||||||||||||||||||||||||||||||
Notes principal amount | $ 12,000,000 | $ 1,050,000 | $ 300,000 | $ 350,000 | $ 200,000 | $ 200,000 | $ 1,712,000 | $ 1,712,000 | $ 12,000,000 | $ 12,000,000 | $ 2,000,000 | ||||||||||||||||||||||
Notes maturity date | Aug. 05, 2012 | Oct. 10, 2012 | Oct. 10, 2012 | Sep. 01, 2013 | |||||||||||||||||||||||||||||
Note payment terms | The notes bear interest at 8% per annum and are payable in twelve equal monthly installments of principal and interest beginning on October 1, 2012. Each monthly installment payment may be made in cash, shares of the Company's common stock, or a combination thereof. If paid in shares, such shares will be valued at the lower of (i) the then applicable conversion price or (ii) a price that is 87.5% of the arithmetic average of the ten (or in some cases fewer) lowest weighted average prices of the Company's common stock during the twenty trading day period ending two trading days before the payment date or the date on which the Company elects to pay in shares, whichever is lower (the "Measurement Period"). The Company's ability to make such payments with shares of the Company's common stock will be subject to certain conditions including (i) a minimum of $250 in average daily trading volume during the Measurement Period, (ii) a minimum of $150 in daily trading volume during each day during the Measurement Period, with certain exceptions, and (iii) the effectiveness of a resale registration statement with respect to the shares | ||||||||||||||||||||||||||||||||
Note convertible conversion price (in dollars per share) | $ 0.2451 | $ 0.352 | $ 0.352 | $ 0.22 | |||||||||||||||||||||||||||||
Interest rate on notes, stated percentage (in hundredths) | 8.00% | 8.00% | 8.00% | 8.00% | 8.00% | ||||||||||||||||||||||||||||
Notes arithmetic average percentage (in hundredths) | 87.50% | 87.50% | |||||||||||||||||||||||||||||||
Note date of first required payment | Oct. 01, 2012 | Oct. 01, 2012 | |||||||||||||||||||||||||||||||
Minimum average daily trading volume during measurement period | 250,000 | 250,000 | |||||||||||||||||||||||||||||||
Minimum average daily trading volume during measurement period including exception | 150,000 | 150,000 | |||||||||||||||||||||||||||||||
Common stock, issued (in shares) | 196,962,069 | 196,962,069 | 134,467,554 | 18,750,000 | 30,000,000 | 15,000,000 | |||||||||||||||||||||||||||
Warrants exercise price (in dollars per share) | $ 0.384 | $ 0.22 | |||||||||||||||||||||||||||||||
Arithmetic average of lowest weighted average prices of common stock (in hundredths) | 87.50% | ||||||||||||||||||||||||||||||||
Trading days | 20 days | ||||||||||||||||||||||||||||||||
Trading day preceding reset date | 2 days | ||||||||||||||||||||||||||||||||
Warrants expiration Date | Jul. 02, 2017 | Jun. 01, 2017 | |||||||||||||||||||||||||||||||
Common stock per share (in dollars per share) | $ 0.10 | ||||||||||||||||||||||||||||||||
Proceeds from issuance of common stocks | 3,000,000 | 1,000 | 720,000 | 200,000 | 3,000,000 | ||||||||||||||||||||||||||||
Issue price (in dollars per share) | $ 0.31 | ||||||||||||||||||||||||||||||||
Manufacturing contract costs (in dollars per share) | $ 0.21 | ||||||||||||||||||||||||||||||||
Operating Expenses | 1,589,000 | 2,277,000 | 10,254,000 | 5,338,000 | 6,300,000 | ||||||||||||||||||||||||||||
Deferred finance costs | 704,000 | 704,000 | 1,033,000 | 1,355,000 | |||||||||||||||||||||||||||||
Stock issuance costs | 2,905,000 | ||||||||||||||||||||||||||||||||
Aggregate purchase price | 3,000,000 | ||||||||||||||||||||||||||||||||
Equity method investment, ownership percentage (in hundredths) | 72.86% | 0.67% | |||||||||||||||||||||||||||||||
Repayments of promissory note | 2,762,000 | 0 | 1,743,000 | 1,743,000 | |||||||||||||||||||||||||||||
Allegation description | SAGA, SpA in Padova, Italy ("SAGA"), a specialist parts manufacturer, filed a litigation case against the Company claiming damages of $3.2 million for payment on an alleged loan and for alleged breach of contract in connection with the formation of joint venture called Liquidmetal SAGA Italy, Srl ("LSI"). | ||||||||||||||||||||||||||||||||
Consideration paid to SAGA | $ 2,800,000 | ||||||||||||||||||||||||||||||||
Restricted Shares Issued For Legal Settlement (in shares) | 4,496,429 | ||||||||||||||||||||||||||||||||
Trailing day | 30 days |
X | ||||||||||
- Definition
Exercise price of the warrants. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Expiration date of warrants held. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Refers to arithmetic average of the ten lowest weighted average prices of the common stock. No definition available.
|
X | ||||||||||
- Definition
Refers to manufacturing contract costs No definition available.
|
X | ||||||||||
- Definition
Refers to minimum average daily trading volume during the Measurement Period. No definition available.
|
X | ||||||||||
- Definition
Refers to Minimum average daily trading volume during the measurement period including Exception. No definition available.
|
X | ||||||||||
- Definition
Number of shares of stock issued as of the balance sheet date, including shares that had been issued and were previously outstanding but which are now held in the treasury. No definition available.
|
X | ||||||||||
- Definition
Refers to senior convertible notes arithmetic Average percentage. No definition available.
|
X | ||||||||||
- Definition
The cash outflow for cost incurred directly with the issuance of an equity security. No definition available.
|
X | ||||||||||
- Definition
Refers to trading day preceding reset date. No definition available.
|
X | ||||||||||
- Definition
Refers to Trading days. No definition available.
|
X | ||||||||||
- Definition
Refers to number of trailing day. No definition available.
|
X | ||||||||||
- Definition
Total number of common shares of an entity that have been sold or granted to shareholders (includes common shares that were issued, repurchased and remain in the treasury). These shares represent capital invested by the firm's shareholders and owners, and may be all or only a portion of the number of shares authorized. Shares issued include shares outstanding and shares held in the treasury. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The price per share of the conversion feature embedded in the debt instrument. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Date the debt agreement requires the first payment to be made, in CCYY-MM-DD format. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The stated principal amount of the debt instrument at time of issuance, which may vary from the carrying amount because of unamortized premium or discount. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Interest rate stated in the contractual debt agreement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Date the debt instrument was issued, in CCYY-MM-DD format. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Date when the debt instrument is scheduled to be fully repaid, in CCYY-MM-DD format. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Description of the payment terms of the debt instrument (for example, whether periodic payments include principal and frequency of payments) and discussion about any contingencies associated with the payment. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
For an unclassified balance sheet, the carrying amount (net of accumulated amortization) as of the balance sheet date of capitalized costs associated with the issuance of debt instruments (for example, legal, accounting, underwriting, printing, and registration costs) that will be charged against earnings over the life of the debt instruments to which such costs pertain. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The percentage of ownership of common stock or equity participation in the investee accounted for under the equity method of accounting. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Presents an assertion of a fact by a plaintiff in a pleading or complaint, which the plaintiff claims it will prove upon presentation of evidence at the proceeding. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of consideration the entity has agreed to pay to settle a legal matter. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Generally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Includes selling, general and administrative expense. No definition available.
|
X | ||||||||||
- Definition
The cash inflow from the additional capital contribution to the entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Purchases during the period (excluding transactions that are eliminated in consolidated or combined financial statements) with related party. No definition available.
|
X | ||||||||||
- Definition
The cash outflow for a borrowing having initial term of repayment within one year or the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Per share amount received by subsidiary or equity investee for each share of common stock issued or sold in the stock transaction. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Price of a single share of a number of saleable stocks of a company. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Liquidity and Going Concern Issues (Details) (USD $)
In Thousands, except Share data, unless otherwise specified |
9 Months Ended | 0 Months Ended | 0 Months Ended | 9 Months Ended | |||||||
---|---|---|---|---|---|---|---|---|---|---|---|
Sep. 30, 2012
|
Sep. 30, 2011
|
Dec. 31, 2011
|
Dec. 31, 2010
|
Nov. 14, 2012
Senior convertible notes [Member]
|
Aug. 31, 2012
Senior convertible notes [Member]
|
Jul. 02, 2012
Senior convertible notes [Member]
|
Jul. 11, 2012
SAGA Promissory Note [Member]
|
Sep. 30, 2012
SAGA Promissory Note [Member]
|
Oct. 10, 2011
SAGA Promissory Note [Member]
|
Jun. 01, 2012
Visser [Member]
|
|
Liquidity [Line Items] | |||||||||||
Cash used in operations | $ 3,656 | $ 3,045 | |||||||||
Cash used in investing activities | 64 | 239 | |||||||||
Cash provided by financing activities | 12,299 | (46) | |||||||||
Cash | 8,701 | 1,699 | 122 | 5,072 | |||||||
Promissory note principle amount | 12,000 | 1,712 | |||||||||
Common stock issued in full satisfaction of installment payments of convertible notes (in shares) | 15,897,856 | 5,059,163 | |||||||||
Common stock issued in anticipation of making installment payments of convertible notes (in shares) | 8,401,434 | ||||||||||
Maturity date of promissory note | Oct. 10, 2012 | ||||||||||
Repayments of promissory note | 2,762 | 0 | 1,743 | ||||||||
Common stock, issued (in shares) | 196,962,069 | 134,467,554 | 30,000,000 | ||||||||
Share price (in dollars per share) | $ 0.10 | ||||||||||
Proceeds from issuance of Common Stock | $ 193 | $ 130 | $ 3,000 |
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Number of additional shares issued during the period as a result of the conversion of convertible securities. No definition available.
|
X | ||||||||||
- Definition
Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Total number of common shares of an entity that have been sold or granted to shareholders (includes common shares that were issued, repurchased and remain in the treasury). These shares represent capital invested by the firm's shareholders and owners, and may be all or only a portion of the number of shares authorized. Shares issued include shares outstanding and shares held in the treasury. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Aggregate par or stated value of issued nonredeemable common stock (or common stock redeemable solely at the option of the issuer). This item includes treasury stock repurchased by the entity. Note: elements for number of nonredeemable common shares, par value and other disclosure concepts are in another section within stockholders' equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The stated principal amount of the debt instrument at time of issuance, which may vary from the carrying amount because of unamortized premium or discount. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Date when the debt instrument is scheduled to be fully repaid, in CCYY-MM-DD format. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The net cash inflow or outflow from financing activity for the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The net cash inflow or outflow from investing activity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The net cash from (used in) all of the entity's operating activities, including those of discontinued operations, of the reporting entity. Operating activities generally involve producing and delivering goods and providing services. Operating activity cash flows include transactions, adjustments, and changes in value that are not defined as investing or financing activities. While for technical reasons this element has no balance attribute, the default assumption is a debit balance consistent with its label. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The cash outflow for a borrowing having initial term of repayment within one year or the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Price of a single share of a number of saleable stocks of a company. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Number of shares issued during the period as a result of the conversion of convertible securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Prepaid Expenses and Other Current Assets (Details) (USD $)
In Thousands, unless otherwise specified |
3 Months Ended | 9 Months Ended | |
---|---|---|---|
Sep. 30, 2012
|
Sep. 30, 2012
|
Jul. 02, 2012
|
|
Prepaid Expenses And Other Current Assets [Abstract] | |||
Deferred issuance costs | $ 704 | $ 704 | $ 1,033 |
Deferred issuance costs amortization period | 14 months | ||
Debt discount amortization | $ 329 |
X | ||||||||||
- Definition
Represents period for amortization of deferred issuance costs. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
The amount of amortization of deferred charges applied against earnings during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
For an unclassified balance sheet, the carrying amount (net of accumulated amortization) as of the balance sheet date of capitalized costs associated with the issuance of debt instruments (for example, legal, accounting, underwriting, printing, and registration costs) that will be charged against earnings over the life of the debt instruments to which such costs pertain. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Patents and Trademarks, net (Details) (USD $)
In Thousands, unless otherwise specified |
3 Months Ended | 9 Months Ended | |||
---|---|---|---|---|---|
Sep. 30, 2012
|
Sep. 30, 2011
|
Sep. 30, 2012
|
Sep. 30, 2011
|
Dec. 31, 2011
|
|
Patents and Trademarks, net [Abstract] | |||||
Patents and trademarks | $ 901 | $ 901 | $ 968 | ||
Amortization expense of patents and trademarks | $ 32 | $ 34 | $ 101 | $ 103 |
X | ||||||||||
- Definition
The aggregate expense charged against earnings to allocate the cost of intangible assets (nonphysical assets not used in production) in a systematic and rational manner to the periods expected to benefit from such assets. As a noncash expense, this element is added back to net income when calculating cash provided by or used in operations using the indirect method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Sum of the carrying amounts of all intangible assets, excluding goodwill, as of the balance sheet date, net of accumulated amortization and impairment charges. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
Short Term Debt (Details) (USD $)
In Thousands, unless otherwise specified |
3 Months Ended | 9 Months Ended | 0 Months Ended | 1 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | ||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Sep. 30, 2012
|
Sep. 30, 2011
|
Sep. 30, 2012
|
Sep. 30, 2011
|
Oct. 10, 2012
SAGA Promissory Note [Member]
|
Jul. 11, 2012
SAGA Promissory Note [Member]
|
Oct. 31, 2011
SAGA Promissory Note [Member]
|
Sep. 30, 2012
SAGA Promissory Note [Member]
|
Sep. 30, 2012
SAGA Promissory Note [Member]
|
Oct. 10, 2011
SAGA Promissory Note [Member]
|
Sep. 30, 2012
Unsecured Bridge Promissory Note [Member]
|
Sep. 30, 2012
Unsecured Bridge Promissory Note [Member]
|
Apr. 25, 2012
Unsecured Bridge Promissory Note [Member]
|
Mar. 28, 2012
Unsecured Bridge Promissory Note [Member]
|
Feb. 27, 2012
Unsecured Bridge Promissory Note [Member]
|
Jan. 17, 2012
Unsecured Bridge Promissory Note [Member]
|
|
Short-term Debt [Line Items] | ||||||||||||||||
Promissory note principle amount | $ 1,712 | $ 1,712 | $ 1,050 | $ 1,050 | $ 300 | $ 350 | $ 200 | $ 200 | ||||||||
Maturity date | Oct. 10, 2012 | Oct. 10, 2012 | ||||||||||||||
Interest rate (in hundredths) | 8.00% | 8.00% | 8.00% | 8.00% | ||||||||||||
Repayments of promissory note | 2,762 | 0 | 1,743 | 1,743 | ||||||||||||
Interest expense | $ 240 | $ 17 | $ 258 | $ 48 | $ 0 | $ 68 | $ 0 | $ 18 |
X | ||||||||||
- Definition
The stated principal amount of the debt instrument at time of issuance, which may vary from the carrying amount because of unamortized premium or discount. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Interest rate stated in the contractual debt agreement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Date when the debt instrument is scheduled to be fully repaid, in CCYY-MM-DD format. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The cost of borrowed funds accounted for as interest that was charged against earnings during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The cash outflow for a borrowing having initial term of repayment within one year or the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Amount of noncash expense included in interest expense to amortize debt discount and premium associated with the related debt instruments. Excludes amortization of financing costs. Alternate captions include noncash interest expense. No definition available.
|
X | ||||||||||
- Definition
The net change in the face value of the embedded conversion feature liability and warrants, charged to earnings. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Represents gross pre issuance amount of debt instruments. No definition available.
|
X | ||||||||||
- Definition
The amount of debt discount on pre issuance of debt instruments. No definition available.
|
X | ||||||||||
- Definition
Represents pre issuance amount of debt instruments net of amortization. No definition available.
|
X | ||||||||||
- Definition
Represents debt discount on additional borrowings debt instruments. No definition available.
|
X | ||||||||||
- Definition
Increase of additional borrowings on existing and new debt instruments net of discount. No definition available.
|
X | ||||||||||
- Definition
Represents number of monthly installments for repayment of principal and interest of debt. No definition available.
|
X | ||||||||||
- Definition
Value of outstanding derivative securities that permit the holder the right to purchase securities (usually equity) from the issuer at a specified price and the embedded derivative instrument that was separated from its host contract and accounted for as a derivative. No definition available.
|
X | ||||||||||
- Definition
Represents original valuation of additions to embedded derivatives. No definition available.
|
X | ||||||||||
- Definition
Amount of noncash expense included in interest expense to amortize debt discount and premium associated with the related debt instruments. Excludes amortization of financing costs. Alternate captions include noncash interest expense. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Discloses amount of embedded regulatory liabilities within the plant accounts. This may result when the regulatory depreciable life is shorter than the depreciable life generally used for nonregulatory accounting. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Including the current and noncurrent portions, carrying amount of debt identified as being convertible into another form of financial instrument (typically the entity's common stock) as of the balance sheet date, which originally required full repayment more than twelve months after issuance or greater than the normal operating cycle of the company. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Including current and noncurrent portions, aggregate carrying amount of long-term borrowings as of the balance sheet date before deducting unamortized discount or premiums (if any). May include notes payable, bonds payable, commercial loans, mortgage loans, convertible debt, subordinated debt and other types of debt, which had initial maturities beyond one year or beyond the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The price per share of the conversion feature embedded in the debt instrument. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Date the debt agreement requires the first payment to be made, in CCYY-MM-DD format. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The stated principal amount of the debt instrument at time of issuance, which may vary from the carrying amount because of unamortized premium or discount. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Increase of additional borrowings on existing and new debt instruments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Interest rate stated in the contractual debt agreement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Date when the debt instrument is scheduled to be fully repaid, in CCYY-MM-DD format. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of the required periodic payments including both interest and principal payments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of the required periodic payments applied to interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of the required periodic payments applied to principal. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The amount of debt discount that was originally recognized at the issuance of the instrument that has yet to be amortized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Expected dividends to be paid to holders of the underlying shares or financial instruments (expressed as a percentage of the share or instrument's price). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Period the instrument, asset or liability is expected to be outstanding, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Measure of dispersion, in percentage terms (for instance, the standard deviation or variance), for a given stock price. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Risk-free interest rate assumption used in valuing an instrument. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Represents the portion of interest incurred in the period on debt arrangements that was charged against earnings. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Number of shares issued during the period as a result of the conversion of convertible securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The net change in the difference between the fair value and the carrying value, or in the comparative fair values, of derivative instruments, including options, swaps, futures, and forward contracts, held at each balance sheet date, that was included in earnings for the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Value of outstanding derivative securities that permit the holder the right to purchase securities (usually equity) from the issuer at a specified price. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Warrant Liability (Details) (USD $)
|
9 Months Ended | 9 Months Ended | 3 Months Ended | 6 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | |||||
---|---|---|---|---|---|---|---|---|---|---|---|---|
Sep. 30, 2012
|
Dec. 31, 2011
|
Sep. 30, 2012
Warrant [Member]
|
Dec. 31, 2011
Warrant [Member]
|
Sep. 30, 2012
Warrants valued as liability [Member]
|
Dec. 31, 2011
Warrants valued as liability [Member]
|
Sep. 30, 2012
Visser MTA Agreement [Member]
|
Jun. 30, 2012
Visser MTA Agreement [Member]
|
Sep. 30, 2012
Visser MTA Agreement [Member]
|
Sep. 30, 2012
Private Placement [Member]
|
Sep. 30, 2012
Private Placement [Member]
|
Feb. 27, 2012
Private Placement [Member]
|
|
Class of Warrant or Right [Line Items] | ||||||||||||
Warrants outstanding (in shares) | 4,675,143 | 15,000,000 | ||||||||||
Warrant liabilities | $ 5,302,000 | $ 2,400,000 | $ 2,400,000 | $ 2,902,000 | $ 2,902,000 | $ 5,053,000 | ||||||
Warrants exercise price (in dollars per share) | $ 0.22 | $ 0.384 | ||||||||||
Fair value of warrants outstanding under the following assumptions | ||||||||||||
Expected life in years (in years) | 4 years 8 months 1 day | 4 years 9 months | ||||||||||
Volatility (in hundredths) | 151.00% | 151.00% | ||||||||||
Risk-free interest rate (in hundredths) | 0.64% | 0.64% | ||||||||||
Dividend rate (in hundredths) | 0.00% | 0.00% | ||||||||||
Warrants issued | 196,962,069 | 134,467,554 | 18,750,000 | |||||||||
Company's warrant liability [Abstract] | ||||||||||||
Beginning Balance - January 1, 2012 | 0 | 0 | 0 | 0 | 5,053,000 | |||||||
Original valuation - June & July 2012 | 9,312,000 | 4,260,000 | 5,053,000 | |||||||||
Change in value of warrant liability, gain | (4,010,000) | 4,675,143 | 2,033,000 | (1,860,000) | 2,151,000 | (2,151,000) | ||||||
Ending Balance - Setember 30, 2012 | $ 5,302,000 | $ 2,400,000 | $ 2,400,000 | $ 2,902,000 | $ 2,902,000 | $ 5,053,000 | ||||||
Warrants to purchase the shares (in shares) | 63,529,557 | 44,707,976 | 33,750,000 | 4,675,143 |
X | ||||||||||
- Definition
Exercise price of the warrants. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
The net change in the difference between the fair value and the carrying value of warrants. No definition available.
|
X | ||||||||||
- Definition
Refers to Original valuation - June & July 2012. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
The specified number of securities that each class of warrants or rights outstanding give the holder the right but not the obligation to purchase from the issuer at a specific price, on or before a certain date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Aggregate amount of each class of warrants or rights outstanding. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Total number of common shares of an entity that have been sold or granted to shareholders (includes common shares that were issued, repurchased and remain in the treasury). These shares represent capital invested by the firm's shareholders and owners, and may be all or only a portion of the number of shares authorized. Shares issued include shares outstanding and shares held in the treasury. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Expected dividends to be paid to holders of the underlying shares or financial instruments (expressed as a percentage of the share or instrument's price). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Period the instrument, asset or liability is expected to be outstanding, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Measure of dispersion, in percentage terms (for instance, the standard deviation or variance), for a given stock price. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Risk-free interest rate assumption used in valuing an instrument. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Value of outstanding derivative securities that permit the holder the right to purchase securities (usually equity) from the issuer at a specified price. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Other Long-term Liabilities (Details) (USD $)
In Thousands, unless otherwise specified |
Sep. 30, 2012
|
Dec. 31, 2011
|
---|---|---|
Other Long-term Liabilities [Abstract] | ||
Other long-term liabilities | $ 856 | $ 609 |
Period for outstanding liability | 5 years |
X | ||||||||||
- Definition
Refers to period for outstanding liability. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Aggregate carrying amount, as of the balance sheet date, of noncurrent obligations not separately disclosed in the balance sheet. Noncurrent liabilities are expected to be paid after one year (or the normal operating cycle, if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Stock Compensation Plan (Details)
|
9 Months Ended | 12 Months Ended | 3 Months Ended | 9 Months Ended |
---|---|---|---|---|
Sep. 30, 2012
2002 Equity Incentive Plan [Member]
|
Dec. 31, 2011
2002 Equity Incentive Plan [Member]
|
Sep. 30, 2012
2012 Equity Incentive Plan [Member]
|
Sep. 30, 2012
2012 Equity Incentive Plan [Member]
|
|
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Stock options grants outstanding (in shares) | 4,042,000 | 4,679,807 | 310,000 | 310,000 |
Shares purchased | 310,000 | 310,000 |
X | ||||||||||
- Definition
Refers to shares purchased under stock compensation plan. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Gross number of share options (or share units) granted during the period. No definition available.
|
Shareholders' Deficit (Details) (USD $)
|
9 Months Ended | 9 Months Ended | 9 Months Ended | 9 Months Ended | |||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Sep. 30, 2012
|
Dec. 31, 2011
|
Nov. 02, 2010
|
Oct. 31, 2009
|
Sep. 30, 2012
Convertible series A1 Preferred Stock [Member]
|
Dec. 31, 2011
Convertible series A1 Preferred Stock [Member]
|
Dec. 31, 2009
Convertible series A1 Preferred Stock [Member]
|
Oct. 31, 2009
Convertible series A1 Preferred Stock [Member]
|
May 01, 2009
Convertible series A1 Preferred Stock [Member]
|
Sep. 30, 2012
Convertible series A2 Preferred Stock [Member]
|
Dec. 31, 2011
Convertible series A2 Preferred Stock [Member]
|
May 01, 2009
Convertible series A2 Preferred Stock [Member]
|
Sep. 30, 2012
Series A Preferred Stock [Member]
|
Dec. 31, 2011
Series A Preferred Stock [Member]
|
May 01, 2009
Series A Preferred Stock [Member]
|
Sep. 30, 2012
Common Stock [Member]
|
Sep. 30, 2012
Warrant [Member]
|
Dec. 31, 2011
Warrant [Member]
|
Nov. 02, 2010
Warrant [Member]
|
Dec. 31, 2011
SAGA [Member]
Common Stock [Member]
|
Sep. 30, 2012
Visser MTA Agreement [Member]
Common Stock [Member]
|
Sep. 30, 2012
July 2012 Private Placement senior convertible note [Member]
|
Aug. 31, 2012
July 2012 Private Placement senior convertible note [Member]
|
|
Class of Stock [Line Items] | |||||||||||||||||||||||
Common stock, issued (in shares) | 196,962,069 | 134,467,554 | 4,496,429 | 30,000,000 | 5,059,163 | ||||||||||||||||||
Common stock at a conversion price (in dollars per share) | $ 0.2451 | ||||||||||||||||||||||
Installment payment | $ 1,240,000 | ||||||||||||||||||||||
Preferred stock, issued (in shares) | 506,936 | 1,299,151 | 180,000 | 500,000 | 2,625,000 | ||||||||||||||||||
Issue price (in dollars per share) | $ 5.00 | $ 5.00 | |||||||||||||||||||||
Number of securities called by warrants issued (in shares) | 4,500,000 | 42,329,407 | 47,232,459 | ||||||||||||||||||||
Exercise price of securities called by warrants issued (in dollars per share) | $ 0.50 | $ 0.50 | |||||||||||||||||||||
Adjusted exercise price of securities called by warrants issued (in dollars per share) | $ 0.49 | $ 0.49 | |||||||||||||||||||||
Preferred stock accrued cumulative dividends, annual rate (in hundredths) | 8.00% | ||||||||||||||||||||||
Convertible preferred stock conversion price (in dollars per share) | $ 1.0 | $ 0.10 | $ 0.10 | $ 0.22 | |||||||||||||||||||
Convertible preferred stock, increased conversion price (in dollars per share) | $ 1.08 | ||||||||||||||||||||||
Accrued dividends | 222,000 | 571,000 | 222,000 | 571,000 | |||||||||||||||||||
Number of preferred stock shares converted (in shares) | 792,215 | ||||||||||||||||||||||
Number of common stock shares issued upon conversion of preferred stock (in shares) | 25,669,752 | ||||||||||||||||||||||
Preferred stock, outstanding (in shares) | 506,936 | 1,299,151 | 105,231 | 246,371 | 401,705 | 1,052,780 | |||||||||||||||||
Number of warrants held by the holders | 40,032,833 | ||||||||||||||||||||||
Company reclassified from warrant liabilities | 24,438 | ||||||||||||||||||||||
Warrants classified as equity | $ 18,179 | ||||||||||||||||||||||
Warrants that were Exercised | 10,253,276 | ||||||||||||||||||||||
Warrants to purchase shares | 29,779,557 | 40,032,833 |
X | ||||||||||
- Definition
The subsequently adjusted exercise price of each class of warrants or rights outstanding. No definition available.
|
X | ||||||||||
- Definition
Company reclassified from warrant liabilities. No definition available.
|
X | ||||||||||
- Definition
The price per share of the conversion feature embedded in the convertible preferred stock. No definition available.
|
X | ||||||||||
- Definition
The increased price per share of the conversion feature embedded in the Convertible preferred stock. No definition available.
|
X | ||||||||||
- Definition
Warrants classified equity was reduced. No definition available.
|
X | ||||||||||
- Definition
Warrants that were Exercised on a cashless basis. No definition available.
|
X | ||||||||||
- Definition
Warrants to purchase shares of Company's Common Stock. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
The exercise price of each class of warrants or rights outstanding. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The specified number of securities that each class of warrants or rights outstanding give the holder the right but not the obligation to purchase from the issuer at a specific price, on or before a certain date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The number of warrants or rights which entitle the entity to receive future services in exchange for the unvested, forfeitable warrants or rights. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Total number of common shares of an entity that have been sold or granted to shareholders (includes common shares that were issued, repurchased and remain in the treasury). These shares represent capital invested by the firm's shareholders and owners, and may be all or only a portion of the number of shares authorized. Shares issued include shares outstanding and shares held in the treasury. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The number of shares converted in a noncash (or part noncash) transaction. Noncash is defined as transactions during a period that do not result in cash receipts or cash payments in the period. "Part noncash" refers to that portion of the transaction not resulting in cash receipts or cash payments in the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Number of shares issued for each share of convertible preferred stock that is converted. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The price per share of the conversion feature embedded in the debt instrument. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of the required periodic payments including both interest and principal payments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Carrying value as of the balance sheet date of dividends declared but unpaid on equity securities issued by the entity and outstanding. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The percentage rate used to calculate dividend payments on preferred stock. No definition available.
|
X | ||||||||||
- Definition
Total number of nonredeemable preferred shares (or preferred stock redeemable solely at the option of the issuer) issued to shareholders (includes related preferred shares that were issued, repurchased, and remain in the treasury). May be all or portion of the number of preferred shares authorized. Excludes preferred shares that are classified as debt. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Aggregate share number for all nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer) held by stockholders. Does not include preferred shares that have been repurchased. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Price of a single share of a number of saleable stocks of a company. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Discontinued Operations and Long-Lived Assets to be Disposed of (Details) (USD $)
In Thousands, unless otherwise specified |
3 Months Ended | 9 Months Ended | 1 Months Ended | 9 Months Ended | ||||||
---|---|---|---|---|---|---|---|---|---|---|
Sep. 30, 2011
|
Sep. 30, 2011
|
Sep. 30, 2012
|
Dec. 31, 2011
|
Aug. 31, 2011
Advanced Metals Materials [Member]
|
Sep. 30, 2012
Advanced Metals Materials [Member]
|
Aug. 05, 2011
Advanced Metals Materials [Member]
|
Dec. 01, 2011
Liquidmetal Technologies Korea [Member]
|
Sep. 30, 2012
Liquidmetal Coatings LLC [Member]
|
Dec. 31, 2011
Liquidmetal Coatings LLC [Member]
|
|
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||||||||||
Aggregate purchase price of investors | $ 100 | $ 3,000 | ||||||||
Equity method investment, ownership percentage (in hundredths) | 72.86% | |||||||||
Reduction equity method investment ownership percentage (in hundredths) | 0.67% | |||||||||
Consideration received on sale of stock | 720 | |||||||||
Promissory note receivable | 200 | 200 | 200 | |||||||
Maturity date of promissory note | Aug. 05, 2012 | |||||||||
Interest rate on promissory note receivable (in hundredths) | 8.00% | |||||||||
Loss, net of tax, from the disposal of the foregoing entities | 331 | 331 | ||||||||
Loss from operations of discontinued operations, net of taxes | $ 96 | $ 637 |
X | ||||||||||
- Definition
Represents aggregate purchase price of investors. No definition available.
|
X | ||||||||||
- Definition
The effective interest rate during the reporting period. No definition available.
|
X | ||||||||||
- Definition
The reduction percentage of ownership of common stock or equity participation in the investee accounted for under the equity method of accounting. No definition available.
|
X | ||||||||||
- Definition
Date when the debt instrument is scheduled to be fully repaid, in CCYY-MM-DD format. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
After tax income (loss) from operations of a business component (exclusive of any gain (loss) on disposal, or provision therefore) during the reporting period, until its disposal. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The percentage of ownership of common stock or equity participation in the investee accounted for under the equity method of accounting. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The aggregate amount of write-downs for impairments recognized during the period for long-lived assets held for abandonment, exchange or sale. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
An amount representing an agreement for an unconditional promise by the maker to pay the Entity (holder) a definite sum of money at a future date(s) within one year of the balance sheet date or the normal operating cycle, whichever is longer. Such amount may include accrued interest receivable in accordance with the terms of the debt. The debt also may contain provisions including a discount or premium, payable on demand, secured, or unsecured, interest bearing or noninterest bearing, among a myriad of other features and characteristics. This amount does not include amounts related to receivables held-for-sale. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of consideration received by subsidiary or equity investee in exchange for shares of stock issued or sold. Includes amount of cash received, fair value of noncash assets received, and fair value of liabilities assumed by the investor. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Represents convertible preferred stock price per individual share. No definition available.
|
X | ||||||||||
- Definition
Securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) or earnings per unit (EPU) in the future that were not included in the computation of diluted EPS or EPU because to do so would increase EPS or EPU amounts or decrease loss per share or unit amounts for the period presented. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Additional shares included in the calculation of diluted EPS as a result of the potentially dilutive effect of convertible preferred stock using the if-converted method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Per share amount received by subsidiary or equity investee for each share of common stock issued or sold in the stock transaction. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Commitments and Contingencies (Details) (USD $)
In Thousands, unless otherwise specified |
3 Months Ended | 9 Months Ended | ||
---|---|---|---|---|
Sep. 30, 2012
|
Sep. 30, 2011
|
Sep. 30, 2012
|
Sep. 30, 2011
|
|
Commitments and Contingencies [Abstract] | ||||
Rent expense | $ 46 | $ 49 | $ 144 | $ 174 |
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Rental expense for the reporting period incurred under operating leases, including minimum and any contingent rent expense, net of related sublease income. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Related Party Transactions (Details) (USD $)
In Thousands, except Share data, unless otherwise specified |
9 Months Ended | 12 Months Ended | 3 Months Ended | 9 Months Ended | 12 Months Ended | 1 Months Ended | 3 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | 1 Months Ended | 9 Months Ended | ||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Sep. 30, 2012
|
Dec. 31, 2011
|
Oct. 31, 2009
|
Dec. 31, 2009
Subordinated Notes [Member]
|
Dec. 31, 2009
New Senior Secured Convertible Notes [Member]
|
Dec. 31, 2009
Convertible series A1 Preferred Stock [Member]
|
Sep. 30, 2012
Convertible series A1 Preferred Stock [Member]
|
Oct. 31, 2009
Convertible series A1 Preferred Stock [Member]
|
Sep. 30, 2012
Former Chairman [Member]
|
Sep. 30, 2011
Former Chairman [Member]
|
Sep. 30, 2012
Former Chairman [Member]
|
Sep. 30, 2011
Former Chairman [Member]
|
Dec. 31, 2011
Former Chairman [Member]
|
Dec. 31, 2009
Former Chairman [Member]
Convertible series A1 Preferred Stock [Member]
|
Aug. 31, 2011
Innovative Materials Group [Member]
|
Sep. 30, 2012
Innovative Materials Group [Member]
|
Sep. 30, 2012
Innovative Materials Group [Member]
|
Aug. 05, 2011
Innovative Materials Group [Member]
|
Oct. 14, 2010
Innovative Materials Group [Member]
|
Dec. 31, 2009
Management [Member]
|
Dec. 31, 2011
Management [Member]
|
Sep. 30, 2012
President and Chief Executive Officer [Member]
|
Aug. 03, 2010
President and Chief Executive Officer [Member]
|
Dec. 31, 2009
President and Chief Executive Officer [Member]
Convertible series A1 Preferred Stock [Member]
|
Dec. 31, 2009
Vice President and Director [Member]
Convertible series A1 Preferred Stock [Member]
|
Dec. 31, 2009
Carlyle Entities [Member]
Convertible series A1 Preferred Stock [Member]
|
Dec. 31, 2009
Chairman of Carlyle Entities- Mr. Mahamedi [Member]
|
Sep. 30, 2012
LLPG Inc - Mr Chitayat [Member]
|
Feb. 29, 2012
Chief Financial Officer [Member]
Convertible series A1 Preferred Stock [Member]
|
Sep. 30, 2012
Visser Precision Cast LLC [Member]
|
|
Related Party Transaction [Line Items] | ||||||||||||||||||||||||||||||
Amount paid for consulting services | $ 82 | $ 210 | ||||||||||||||||||||||||||||
Deposit received to purchase machinery and equipment | 520 | |||||||||||||||||||||||||||||
Consideration received on sale of stock | 720 | |||||||||||||||||||||||||||||
Promissory note receivable | 200 | 200 | 200 | |||||||||||||||||||||||||||
Maturity date of promissory note | Aug. 05, 2012 | |||||||||||||||||||||||||||||
Interest rate on promissory note receivable (in hundredths) | 8.00% | |||||||||||||||||||||||||||||
Royalty revenue | 7 | 26 | ||||||||||||||||||||||||||||
Legal fees | 0 | 0 | 2 | 0 | ||||||||||||||||||||||||||
Shares issued (in shares) | 100,000 | |||||||||||||||||||||||||||||
Number of securities called by warrants issued (in shares) | 4,500,000 | 2,500,000 | ||||||||||||||||||||||||||||
Proceeds from issuance of preferred stock and warrants | 495 | |||||||||||||||||||||||||||||
Convertible preferred stock conversion price (in dollars per share) | $ 1.0 | $ 0.10 | $ 0.10 | |||||||||||||||||||||||||||
Exercise price of securities called by warrants issued (in dollars per share) | $ 0.50 | $ 0.49 | ||||||||||||||||||||||||||||
Convertible preferred stock number of shares converted (in shares) | 19,000 | 20,000 | 50,000 | 10,000 | ||||||||||||||||||||||||||
Common stock issued on conversion of convertible securities (in shares) | 1,074,154 | 1,130,688 | 2,826,720 | 565,344 | ||||||||||||||||||||||||||
Interest rate on notes, stated percentage (in hundredths) | 8.00% | 8.00% | ||||||||||||||||||||||||||||
Preferred stock issued to investors | 7,813 | 2,500 | ||||||||||||||||||||||||||||
Percentage of beneficial ownership held in the entity | greater-than-5% | greater-than-5% | greater-than-5% | |||||||||||||||||||||||||||
Restricted shares of the Company's stock (in shares) | 6,000,000 | |||||||||||||||||||||||||||||
Shares vested annually (in hundredths) | 20.00% | |||||||||||||||||||||||||||||
Accrued additional legal fees | $ 27 | $ 18 |
X | ||||||||||
- Definition
The price per share of the conversion feature embedded in the convertible preferred stock. No definition available.
|
X | ||||||||||
- Definition
The effective interest rate during the reporting period. No definition available.
|
X | ||||||||||
- Definition
This element represents the percentage of beneficial ownership held by the chairman in the entity. No definition available.
|
X | ||||||||||
- Definition
Proceeds from issuance of capital stock which provides for a specific dividend and which takes precedence over common stockholders in the event of liquidation and issuance of rights to purchase common shares at predetermined price (usually issued together with corporate debt). No definition available.
|
X | ||||||||||
- Definition
The period of time before shares are owned unconditionally by an employee in an employee stock option plan. No definition available.
|
X | ||||||||||
- Definition
Carrying value as of the balance sheet date of obligations incurred through that date and payable for professional fees, such as for legal and accounting services received. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The exercise price of each class of warrants or rights outstanding. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The specified number of securities that each class of warrants or rights outstanding give the holder the right but not the obligation to purchase from the issuer at a specific price, on or before a certain date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The number of shares converted in a noncash (or part noncash) transaction. Noncash is defined as transactions during a period that do not result in cash receipts or cash payments in the period. "Part noncash" refers to that portion of the transaction not resulting in cash receipts or cash payments in the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The number of new shares issued in the conversion of stock in a noncash (or part noncash) transaction. Noncash is defined as transactions during a period that do not result in cash receipts or cash payments in the period. "Part noncash" refers to that portion of the transaction not resulting in cash receipts or cash payments in the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Interest rate stated in the contractual debt agreement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Date when the debt instrument is scheduled to be fully repaid, in CCYY-MM-DD format. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The amount of expense provided in the period for legal costs incurred on or before the balance sheet date pertaining to resolved, pending or threatened litigation, including arbitration and mediation proceedings. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
An amount representing an agreement for an unconditional promise by the maker to pay the Entity (holder) a definite sum of money at a future date(s) within one year of the balance sheet date or the normal operating cycle, whichever is longer. Such amount may include accrued interest receivable in accordance with the terms of the debt. The debt also may contain provisions including a discount or premium, payable on demand, secured, or unsecured, interest bearing or noninterest bearing, among a myriad of other features and characteristics. This amount does not include amounts related to receivables held-for-sale. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of deposits held by the entity for a related party (entity, shareholder, employee). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of transactions with related party during the financial reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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- Definition
Revenue earned during the period from the leasing or otherwise lending to a third party the entity's rights or title to certain property. Royalty revenue is derived from a percentage or stated amount of sales proceeds or revenue generated by the third party using the entity's property. Examples of property from which royalties may be derived include patents and oil and mineral rights. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of consideration received by subsidiary or equity investee in exchange for shares of stock issued or sold. Includes amount of cash received, fair value of noncash assets received, and fair value of liabilities assumed by the investor. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Number of new stock issued during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Equity impact of the value of new stock issued during the period. Includes shares issued in an initial public offering or a secondary public offering. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Number of shares of restricted stock determined by relating the portion of time within a reporting period that restricted shares have been outstanding to the total time in that period. Restricted shares are subject to sales, contractual, regulatory or other restrictions that prevent or inhibit the holder from freely disposing of them before the restriction ends. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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