Quarterly report pursuant to Section 13 or 15(d)

Fair Value Measurements (Tables)

v3.7.0.1
Fair Value Measurements (Tables)
 3 Months Ended
Jun. 30, 2017
Fair Value Measurements  
Schedule of assets and liabilities measured at fair value on a recurring basis

 

The table below presents our assets and liabilities that are measured at fair value on a recurring basis at June 30, 2017 and are categorized using the fair value hierarchy (in thousands):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fair Value Measurements at June 30, 2017

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Quoted Prices in

 

Significant Other

 

Significant

 

 

 

 

 

 

Active Markets for

 

Observable

 

Unobservable

 

 

 

 

 

 

Identical Assets

 

Inputs

 

Inputs

 

 

 

Total

 

(Level 1)

 

(Level 2)

 

(Level 3)

 

Restricted cash

    

$

5,000

    

$

5,000

    

$

 —

    

$

 —

 

 

The table below presents our assets and liabilities that are measured at fair value on a recurring basis during the fiscal year ended March 31, 2017 and are categorized using the fair value hierarchy (in thousands):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fair Value Measurements at March 31, 2017

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Quoted Prices in

 

Significant Other

 

Significant

 

 

 

 

 

 

Active Markets for

 

Observable

 

Unobservable

 

 

 

 

 

 

Identical Assets

 

Inputs

 

Inputs

 

 

    

Total

    

(Level 1)

    

(Level 2)

    

(Level 3)

 

Cash equivalents

    

$

7,520

    

$

7,520

    

$

 —

    

$

 —

 

Restricted cash

    

$

5,514

    

$

5,514

    

$

 —

    

$

 —

 

 

Schedule of carrying values and estimated fair values of obligations under the revolving credit facility

The carrying values and estimated fair values of these obligations are as follows (in thousands):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

As of

 

As of

 

 

 

June 30, 2017

 

March 31, 2017

 

 

 

Carrying

 

Estimated

 

Carrying

 

Estimated

 

 

    

Value

    

Fair Value

    

Value

    

Fair Value

 

Obligations under the credit facility

    

$

9,484

  

$

9,484

   

$
11,533

 

$

11,533

 

 

Reconciliation of warrant liability, additional paid-in capital, accumulated deficit and change in fair value of warrant liability on the consolidated balance sheets and consolidated statement of operations

 

 

 

 

 

 

 

 

 

 

 

 

 

Consolidated Balance Sheets

 

 

    

Warrant Liability

    

Additional Paid-in Capital

 

Accumulated deficit

 

Balance, March 31, 2017 (Prior to adoption of ASU 2017-11)

 

$

2,917

 

$

870,457

 

$

(850,876)

 

Reclassified warrant liability

 

$

(4,240)

 

$

4,240

 

$

 —

 

Reclassified unrealized gain on warrant liability

 

$

1,323

 

$

 —

 

$

(1,323)

 

Balance, March 31, 2017 (After adoption of ASU 2017-11)

    

$

 —

    

$

874,697

 

$

(852,199)