Financials

v3.19.1
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2019
Dec. 31, 2018
Current Assets:    
Cash and cash equivalents $ 7,731 $ 8,880
Accounts receivable, net of allowance of $1 and $1 at March 31, 2019 and December 31, 2018, respectively 50 34
Inventory 110 101
Prepaid expenses and other current assets 183 226
Current assets of discontinued operations 0 60
Total current assets 8,074 9,301
Improvements and equipment, net 166 200
Operating lease - right of use asset 1,001 0
Other assets 178 178
Assets of discontinued operations - noncurrent 703 0
Total assets 10,122 9,679
Current Liabilities:    
Accounts payable 395 564
Accrued expenses and other current liabilities 265 385
Warrant liability 291 156
Current liabilities of discontinued operations 24 271
Total current liabilities 975 1,376
Operating lease liability - right of use 1,001 0
Other long-term liabilities 0 51
Long term liabilities of discontinued operations 760 0
Total liabilities 2,736 1,427
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; 5,005,211 and 5,005,211 shares issued and outstanding as of March 31, 2019 and December 31, 2018, respectively 5 5
Additional paid-in capital 166,674 166,674
Accumulated deficit (159,293) (158,427)
Total stockholders' equity 7,386 8,252
Total liabilities and stockholders' equity $ 10,122 $ 9,679

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v3.19.1
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Revenue, net of returns, allowances and discounts $ 129 $ 544
Cost of revenues 237 417
Gross (loss)/profit (108) 127
Operating expenses    
Selling, general and administrative 605 1,872
Business development costs 270 0
Total operating expenses 875 1,872
Loss from operations (983) (1,745)
Other (expense) income    
Interest income 12 1
Change in fair value of warrant liability (135) (19)
Total other expense (123) (18)
Loss from continuing operations before tax (1,106) (1,763)
Income tax expense 0 (3)
Loss from continuing operations (1,106) (1,766)
Discontinued operations:    
Income/(Loss) from discontinued operations, net of tax of $0 for the three months ended March 31, 2019 and 2018, respectively 240 (3,344)
Profit/(Loss) from discontinued operations, net of tax 240 (3,344)
Net loss $ (866) $ (5,110)
Net loss per basic and diluted common share:    
Loss from continuing operations $ (0.22) $ (0.41)
Discontinued operations:    
Loss from discontinued operations, net of tax of $0 and $0.7 million for the three months ended March 31, 2019 and 2018, respectively 0.05 (0.78)
Total from discontinued operations 0.05 (0.78)
Net loss per basic and diluted common share $ (0.17) $ (1.19)
Weighted average shares used in computing net loss per basic and diluted common share 4,984,923 4,302,608

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v3.19.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Operating Activities    
Net loss $ (866) $ (5,110)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 34 1,312
Amortization of deferred lease incentive 0 (11)
Deferred income tax expense 0 3
(Recovery)/Provision for doubtful accounts (170) 155
Stock-based compensation expense 0 (80)
Deferred rent 0 (1)
Amortization of debt issuance and discount costs 0 190
Change in fair value of warrant liability 135 19
Changes in operating assets and liabilities:    
Accounts receivable 214 (941)
Inventory (9) (104)
Prepaid expenses and other assets 43 24
Accounts payable (416) 1,234
Accrued expenses and other liabilities (120) 855
Operating leases 6 0
Net Cash Used in Operating Activities (1,149) (2,455)
Investing Activities    
Release of escrow deposit 0 100
Net Cash Provided by Investing Activities 0 100
Financing Activities    
Net proceeds from bridge loan 0 1,712
Payment of withholding taxes related to stock-based employee compensation 0 (2)
Net Cash Provided by Financing Activities 0 1,710
Net (Decrease) in Cash and Cash Equivalents (1,149) (645)
Cash and Cash Equivalents - Beginning of period 8,880 2,181
Cash and Cash Equivalents - End of period 7,731 1,536
Supplemental Disclosure of Cash Flows Information    
Cash paid during the period for: Interest $ 0 $ 362

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