FAIR VALUE MEASUREMENTS (Tables)
 9 Months Ended
Sep. 30, 2016
Fair Value Disclosures [Abstract]  
Quantitative inputs
If we added or subtracted five percentage points with regard to our estimate of expected volatility, or if our stock price increased or decreased by five percent, our estimates of fair value would change approximately as follows (in thousands):
Change in volatility
Increase
 
Decrease
CBG Financing Warrants
$
450

 
$
400

VDC Financing Warrant
450

 
500

CBG Acquisition Warrants
1,000

 
900

VDC Acquisition Warrants
450

 
1,000

 
 
 
 
Change in stock price
 
 
 
CBG Financing Warrants
$
350

 
$
300

VDC Financing Warrant
250

 
250

CBG Acquisition Warrants
800

 
700

VDC Acquisition Warrants
500

 
450

The following table presents the quantitative inputs, which we classify in Level 3 of the fair value hierarchy, used in estimating the fair value of the warrants:
 
September 30, 2016
 
December 31, 2015
Warrants issued in February 2012
 
 
 
 
 
Annual dividend rate
—
%
 
 
 
—
%
Expected volatility
45.00
%
 
 
 
55.00
%
Risk-free interest rate
0.56
%
 
 
 
0.92
%
Expected remaining term (years)
0.91

 
 
 
1.66

 
 
 
 
 
 
 
September 30, 2016
 
December 31, 2015
 
VDC
 
CBG
 
VDC
Financing Warrants
 
 
 
 
 
Annual dividend rate
—
%
 
—
%
 
—
%
Expected volatility
50.00
%
 
50.00
%
 
55.00
%
Risk-free interest rate
1.01
%
 
1.07
%
 
1.70
%
Expected remaining term (years)
3.98

 
4.01

 
4.73

Acquisition Warrants
 
 
 
 
 
Annual dividend rate
—
%
 
—
%
 
—
%
Expected volatility
50.00
%
 
50.00
%
 
55.00
%
Risk-free interest rate
1.01
%
 
1.50
%
 
1.76
%
Expected remaining term (years)
3.98

 
7.00

 
4.74
Reconciliation of liabilities of warrants
The following table presents the reconciliation of the beginning and ending balances of the liabilities associated with the Acquisition Warrants, the Financing Warrants and the warrants issued in February 2012 that remain outstanding (in thousands):
 
Nine Months Ended September 30,
 
Year Ended December 31,
 
2016
 
2015
Balance at beginning of period
$
19,195

 
$
512

New warrant issuances
11,625

 
13,252

Increase (decrease) in fair value
(2,691
)
 
5,431

Balance at end of period
$
28,129

 
$
19,195

 
 
 
 
Reconciliation of earnout payments
The following table presents the change during the nine months ended September 30, 2016 in the balance of the liability associated with the Earnout Payments (in thousands):
Balance at beginning of period
$
2,700

Change in fair value of contingent consideration
100

Balance at end of period
$
2,800