v3.7.0.1
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2017
Dec. 31, 2016
Current Assets:    
Cash and cash equivalents $ 2,350 $ 5,580
Accounts receivable, net 2,861 2,760
Inventory, net 2,631 2,702
Prepaid expenses and other current assets 451 735
Total current assets 8,293 11,777
Improvements and equipment, net 1,956 2,092
Intangible assets, net 27,290 28,498
Goodwill, net 11,959 11,959
Other assets 229 173
Total assets 49,727 54,499
Current Liabilities:    
Accounts payable 2,311 2,612
Accrued expenses and other current liabilities 4,672 5,286
Contingent consideration, current 0 675
Senior secured term loan, net 11,745 11,541
Warrant liability 672 20
Total current liabilities 19,400 20,134
Contingent consideration, long-term 500 1,141
Deferred tax liability 752 749
Other long-term liabilities 338 385
Total liabilities 20,990 22,409
Commitments and Contingencies
Stockholders’ Equity    
Preferred Stock, par value $0.001 per share, 1,000,000 shares authorized, no shares issued and outstanding 0 0
Common Stock, par value $0.001 per share, 95,000,000 shares authorized; 36,122,025 and 29,669,036 shares issued and outstanding as of March 31, 2017 and December 31, 2016, respectively 36 30
Additional paid-in capital 160,002 156,363
Accumulated deficit (131,301) (124,303)
Total stockholders' equity 28,737 32,090
Total liabilities and stockholders’ equity $ 49,727 $ 54,499

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v3.7.0.1
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Revenue, net of returns, allowances and discounts $ 4,594 $ 3,957
Cost of revenues 1,660 1,590
Gross profit 2,934 2,367
Operating expenses    
Selling, general and administrative 7,740 9,740
Royalties 185 217
Research and product development 111 199
Acquisition-related 635 0
Change in fair value of contingent consideration liability 35 362
Total operating expenses 8,706 10,518
Loss from operations (5,772) (8,151)
Other (expense) income    
Interest expense (573) (619)
Interest income 2 8
Change in fair value of warrant liability 118 737
Warrant modification expense (770) 0
Total other (expense) income (1,223) 126
Loss from continuing operations before tax (6,995) (8,025)
Income tax expense (3) (3)
Loss from continuing operations (6,998) (8,028)
Discontinued operations:    
Income from discontinued operations, net of tax of $0 for the three months ended March 31, 2017 and 2016 0 346
Net loss $ (6,998) $ (7,682)
Net loss per basic and diluted common share:    
Loss from continuing operations $ (0.23) $ (0.29)
Income from discontinued operations 0 0.01
Income from discontinued operations    
Net loss per basic and diluted common share $ (0.23) $ (0.28)
Weighted average shares used in computing basic and diluted net loss per common share 30,713,415 27,293,087

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v3.7.0.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Operating Activities    
Net loss $ (6,998) $ (7,682)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 1,382 1,037
Amortization of deferred lease incentive (11) (8)
Deferred income tax expense 3 3
Provision for (recovery of) doubtful accounts 7 (80)
Reserve for note receivable 350 0
Provision for excess and slow moving inventory 23 0
Stock-based compensation expense 491 1,706
Deferred rent 2 0
Amortization of debt issuance and discount costs 204 198
Warrant modification expense 770 0
Change in fair value of warrant liability (118) (737)
Fair value adjustment of contingent consideration liability 35 362
Changes in operating assets and liabilities:    
Accounts receivable (108) 91
Inventory 48 (398)
Prepaid expenses and other assets 227 (129)
Accounts payable (301) (285)
Accrued expenses and other current liabilities (652) (224)
Net Cash Used in Operating Activities (4,646) (6,146)
Investing Activities    
Purchase of improvements and equipment (39) (362)
Issuance of note (350) 0
Net Cash Used in Investing Activities (389) (362)
Financing Activities    
Contingent purchase price payments (675) (2,573)
Net proceeds from issuance of common stock 2,534 0
Payment of withholding taxes related to stock-based employee compensation (54) 0
Net Cash Provided by (Used in) Financing Activities 1,805 (2,573)
Net Decrease in Cash and Cash Equivalents (3,230) (9,081)
Cash and Cash Equivalents - Beginning of period 5,580 26,080
Cash and Cash Equivalents - End of period 2,350 16,999
Supplemental Disclosure of Cash Flows Information    
Interest 370 421
Non-cash investing and financing activities:    
2015 Accrued bonus awarded in equity 0 474
Common stock issued for contingent purchase price payments $ 675 $ 2,574

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