v3.8.0.1
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2017
Dec. 31, 2016
Current Assets:    
Cash and cash equivalents $ 2,181 $ 5,580
Accounts receivable, net 3,243 2,453
Inventory, net 1,551 2,152
Prepaid expenses and other current assets 185 735
Current assets of discontinued operations 317 857
Total current assets 7,477 11,777
Improvements and equipment, net 1,563 2,092
Intangible assets, net 22,069 26,605
Goodwill, net 1,659 11,959
Other assets 173 173
Assets of discontinued operations - noncurrent 0 1,893
Total assets 32,941 54,499
Current Liabilities:    
Accounts payable 1,641 2,614
Accrued expenses and other current liabilities 4,270 5,224
Contingent consideration, current 0 675
Senior secured term loan, net 10,929 11,541
Warrant liability 130 20
Current liabilities of discontinued operations 0 60
Total current liabilities 16,970 20,134
Contingent consideration, long-term 0 1,141
Deferred tax liability 0 749
Other long-term liabilities 304 385
Total liabilities 17,274 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; 4,986,034 and 2,966,904 shares issued and outstanding as of December 31, 2017 and December 31, 2016, respectively 5 3
Additional paid-in capital 165,672 156,390
Accumulated deficit (150,010) (124,303)
Total stockholders' equity 15,667 32,090
Total liabilities and stockholders' equity $ 32,941 $ 54,499

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v3.8.0.1
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Revenue, net of returns, allowances and discounts $ 19,565 $ 16,294
Cost of revenues 6,763 6,051
Gross profit 12,802 10,243
Operating expenses    
Selling, general and administrative 28,090 35,325
Royalties 820 1,093
Research and product development 121 859
Milestone expense to licensor 0 1,000
Acquisition-related (365) 2,959
Change in fair value of contingent consideration liability 35 (10,065)
Impairment charges 10,300 10,895
Total operating expenses 39,001 42,066
Loss from operations (26,199) (31,823)
Other (expense) income    
Interest expense (2,282) (2,541)
Change in fair value of warrant liability 692 841
Warrant modification expense (803) 0
Loss on early extinguishment of debt, net (214) (373)
Other income 206 142
Total other expense (2,401) (1,931)
Loss from continuing operations before tax (28,600) (33,754)
Income tax benefit 743 715
Loss from continuing operations (27,857) (33,039)
Discontinued operations:    
Income from discontinued operations, net of tax of $0 for the years ended December 31, 2017 and 2016 454 1,485
Gain on sale of assets, net of tax of $0 for the years ended December 31, 2017 and 2016 1,696 3,311
Income from discontinued operations, net of tax 2,150 4,796
Net loss $ (25,707) $ (28,243)
Net loss per basic and diluted common share:    
Loss from continuing operations $ (6.49) $ (11.81)
Income from discontinued operations 0.11 0.53
Gain on sale of assets 0.4 1.18
Total from discontinued operations 0.51 1.71
Income from discontinued operations    
Net loss per basic and diluted common share $ (5.98) $ (10.10)
Weighted average shares used in computing net loss per basic and diluted common share 4,291,600 2,796,563

Source

v3.8.0.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Operating Activities    
Net loss $ (25,707) $ (28,243)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 5,415 4,162
Amortization of deferred lease incentive (45) (42)
Lease incentive 0 267
Impairment charges 10,300 10,895
Deferred income tax expense (743) (715)
Provision for doubtful accounts 122 38
Reserve for note receivable (650) 1,020
Provision for excess and slow moving inventory 68 (58)
Stock-based compensation expense 2,020 4,863
Deferred rent 2 84
Accrued interest receivable 0 (19)
Amortization of debt issuance and discount costs 824 841
Loss on early extinguishment of debt 182 321
Warrant modification expense 803 0
Change in fair value of warrant liability (692) (841)
Fair value adjustment of contingent consideration liability 35 (10,065)
Gain on sale of assets (1,696) (3,311)
Changes in operating assets and liabilities:    
Accounts receivable (621) (281)
Inventory 792 (112)
Prepaid expenses and other assets 550 207
Accounts payable (1,004) (26)
Accrued expenses and other current liabilities (627) 2,680
Net Cash Used in Operating Activities (10,672) (18,335)
Investing Activities    
Proceeds from sale of assets 3,411 4,103
Purchase of improvements and equipment (179) (893)
Issuance of bridge loan (350) (1,000)
Proceeds from bridge loan 1,000 0
Net Cash Provided by Investing Activities 3,882 2,210
Financing Activities    
Contingent purchase price payments (675) (2,573)
Repayment of long-term debt (1,618) (1,748)
Loss on early extinguishment of debt (32) (52)
Net proceeds from issuance of common stock 5,849 0
Payment of withholding taxes related to stock-based employee compensation (133) (2)
Net Cash Provided by (Used in) Financing Activities 3,391 (4,375)
Net Decrease in Cash and Cash Equivalents (3,399) (20,500)
Cash and Cash Equivalents - Beginning of year 5,580 26,080
Cash and Cash Equivalents - End of year 2,181 5,580
Supplemental Disclosure of Cash Flows Information    
Interest 1,008 1,599
Non-cash investing and financing activities:    
2016 Accrued bonus awarded in equity 374 0
2015 Accrued bonus awarded in equity 0 474
Common stock issued for contingent purchase price payments $ 1,175 $ 2,573

Source