Financials

v3.10.0.1
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2018
Dec. 31, 2017
Current Assets:    
Cash and cash equivalents $ 11,021 $ 2,181
Accounts receivable, net 442 99
Inventory, net 139 93
Prepaid expenses and other current assets 180 41
Current assets of discontinued operations 1,224 5,062
Total current assets 13,006 7,476
Improvements and equipment, net 367 522
Other assets 178 173
Assets of discontinued operations - noncurrent 0 24,769
Total assets 13,551 32,940
Current Liabilities:    
Accounts payable 509 684
Accrued expenses and other current liabilities 249 712
Warrant liability 164 130
Current liabilities of discontinued operations 2,300 15,443
Total current liabilities 3,222 16,969
Other long-term liabilities 55 59
Long term liabilities of discontinued operations 0 245
Total liabilities 3,277 17,273
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; 5,005,210 and 4,986,034 shares issued and outstanding as of June 30, 2018 and December 31, 2017, respectively 5 5
Additional paid-in capital 166,651 165,672
Accumulated deficit (156,382) (150,010)
Total stockholders’ equity 10,274 15,667
Total liabilities and stockholders’ equity $ 13,551 $ 32,940

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v3.10.0.1
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
Revenue, net of returns, allowances and discounts $ 864 $ 616 $ 1,408 $ 855
Cost of revenues 593 513 1,010 935
Gross profit/(loss) 271 103 398 (80)
Operating expenses        
Selling, general and administrative 1,275 1,407 3,146 2,536
Business development costs 201 0 201 635
Total operating expenses 1,476 1,407 3,347 3,171
Loss from operations (1,205) (1,304) (2,949) (3,251)
Other (expense) income        
Interest income 4 2 5 4
Change in fair value of warrant liability (15) 250 (34) 369
Loss on early extinguishment of debt, net (1,706) 0 (1,706) 0
Total other (expense) income (1,717) 252 (1,735) 373
Loss from continuing operations before tax (2,922) (1,052) (4,684) (2,878)
Income tax benefit (expense) 3 (3) 0 (6)
Loss from continuing operations (2,919) (1,055) (4,684) (2,884)
Discontinued operations:        
Loss from discontinued operations, net of tax of $0, for the three and six months ended June 30, 2018 and 2017 (3,864) (3,149) (7,207) (8,317)
Gain on sale of assets, net of tax of $0.5 million for the three and six months ended June 30, 2018 5,521 0 5,521 0
Income/(loss) from discontinued operations, net of tax 1,657 (3,149) (1,686) (8,317)
Net loss $ (1,262) $ (4,204) $ (6,370) $ (11,201)
Net loss per basic and diluted common share:        
Loss from continuing operations $ (0.66) $ (0.23) $ (1.07) $ (0.76)
Loss from discontinued operations (0.88) (0.70) (1.65) (2.19)
Gain on sale of assets 1.25 0 1.27 0
Total from discontinued operations 0.37 (0.70) (0.38) (2.19)
Net loss per basic and diluted common share $ (0.29) $ (0.93) $ (1.45) $ (2.95)
Weighted average shares used in computing net loss per basic and diluted common share 4,407,168 4,523,689 4,358,866 3,801,527

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v3.10.0.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Operating Activities    
Net loss $ (6,370) $ (11,201)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 1,714 2,761
Amortization of deferred lease incentive (16) (23)
Deferred income tax expense 0 6
Provision for doubtful accounts 497 75
Reserve for note receivable 0 350
Provision for excess and slow moving inventory (8) 12
Stock-based compensation expense 980 918
Deferred rent 2 3
Amortization of debt issuance and discount costs 254 425
Loss on early extinguishment of debt 1,706 0
Warrant modification expense 0 803
Change in fair value of warrant liability 34 (369)
Fair value adjustment of contingent consideration liability 0 35
Gain on sale of assets (5,521) 0
Changes in operating assets and liabilities:    
Accounts receivable 1,297 (887)
Inventory (159) (93)
Prepaid expenses and other assets 15 494
Accounts payable 525 56
Accrued expenses and other liabilities (2,408) (1,349)
Net Cash Used in Operating Activities (7,458) (7,984)
Investing Activities    
Proceeds from sale of assets 29,000 0
Purchase of improvements and equipment 89 (79)
Issuance of bridge loan 0 (350)
Release of escrow deposit 100 0
Net Cash Provided by (Used In) Investing Activities 29,189 (429)
Financing Activities    
Contingent purchase price payments 0 (675)
Net proceeds from bridge loan 1,712 0
Repayment of long-term debt (14,135) 0
Fees paid on early extinguishment of debt (466) 0
Net proceeds from issuance of common stock 0 5,865
Payment of withholding taxes related to stock-based employee compensation (2) (58)
Net Cash Provided by (Used In) Financing Activities (12,891) 5,132
Net Increease (Decrease) in Cash and Cash Equivalents 8,840 (3,281)
Cash and Cash Equivalents - Beginning of period 2,181 5,580
Cash and Cash Equivalents - End of period 11,021 2,299
Supplemental Disclosure of Cash Flows Information    
Interest 362 620
Non-cash investing and financing activities:    
2016 Accrued bonus awarded in equity 0 374
2015 Accrued bonus awarded in equity 0 0
Common stock issued for contingent purchase price payments $ 0 $ 1,175

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