Financials

v3.10.0.1
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Sep. 30, 2018
Dec. 31, 2017
Current Assets:    
Cash and cash equivalents $ 11,095 $ 2,181
Accounts receivable, net 172 99
Inventory, net 183 93
Prepaid expenses and other current assets 341 41
Current assets of discontinued operations 445 5,062
Total current assets 12,236 7,476
Improvements and equipment, net 279 522
Other assets 178 173
Assets of discontinued operations - noncurrent 0 24,769
Total assets 12,693 32,940
Current Liabilities:    
Accounts payable 305 684
Accrued expenses and other current liabilities 256 712
Warrant liability 186 130
Current liabilities of discontinued operations 2,351 15,443
Total current liabilities 3,098 16,969
Other long-term liabilities 53 59
Long term liabilities of discontinued operations 0 245
Total liabilities 3,151 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 September 30, 2018 and December 31, 2017, respectively 5 5
Additional paid-in capital 166,674 165,672
Accumulated deficit (157,137) (150,010)
Total stockholders' equity 9,542 15,667
Total liabilities and stockholders' equity $ 12,693 $ 32,940

Source

v3.10.0.1
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
Revenue, net of returns, allowances and discounts $ 348 $ 499 $ 1,756 $ 1,354
Cost of revenues 361 400 1,371 1,335
Gross profit/(loss) (13) 99 385 19
Operating expenses        
Selling, general and administrative 745 1,522 3,892 4,057
Business development costs 212 0 413 635
Total operating expenses 957 1,522 4,305 4,692
Loss from operations (970) (1,423) (3,920) (4,673)
Other (expense) income        
Interest income 8 1 12 5
Change in fair value of warrant liability (22) 35 (56) 404
Loss on early extinguishment of debt, net 0 (182) (1,706) (182)
Total other (expense) income (14) (146) (1,750) 227
Loss from continuing operations before tax (984) (1,569) (5,670) (4,446)
Income tax expense 0 (3) 0 (9)
Loss from continuing operations (984) (1,572) (5,670) (4,455)
Discontinued operations:        
Gain/(loss) from discontinued operations, net of tax of $0, for the three and nine months ended September 30, 2018 and 2017 204 (2,828) (7,003) (11,145)
Gain on sale of assets, net of tax of ($0.026) million and $0.5 million for the three and nine months ended September 30, 2018, respectively 26 1,700 5,546 1,700
Income/(loss) from discontinued operations, net of tax 230 (1,128) (1,457) (9,445)
Net loss $ (754) $ (2,700) $ (7,127) $ (13,900)
Net loss per basic and diluted common share:        
Loss from continuing operations $ (0.20) $ (0.33) $ (1.16) $ (1.08)
Income/(loss) from discontinued operations 0.04 (0.59) (1.43) (2.70)
Gain on sale of assets 0.01 0.36 1.13 0.41
Total from discontinued operations 0.05 (0.23) (0.30) (2.29)
Net loss per basic and diluted common share $ (0.15) $ (0.56) $ (1.46) $ (3.37)
Weighted average shares used in computing net loss per basic and diluted common share 4,984,923 4,753,789 4,902,657 4,125,653

Source

v3.10.0.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Operating Activities    
Net loss $ (7,127) $ (13,900)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 1,802 4,111
Amortization of deferred lease incentive (19) (34)
Deferred income tax expense 0 9
Provision for doubtful accounts 177 169
Reserve for note receivable 0 350
Provision for excess and slow moving inventory (8) 12
Stock-based compensation expense 1,004 1,604
Deferred rent 2 2
Amortization of debt issuance and discount costs 254 631
Loss on early extinguishment of debt 1,706 182
Warrant modification expense 0 803
Change in fair value of warrant liability 56 (404)
Fair value adjustment of contingent consideration liability 0 35
Gain on sale of assets (5,546) (1,700)
Changes in operating assets and liabilities:    
Accounts receivable 2,465 (499)
Inventory (202) 414
Prepaid expenses and other assets (146) 439
Accounts payable 498 (1,023)
Accrued expenses and other liabilities (2,500) (1,000)
Net Cash Used in Operating Activities (7,584) (9,799)
Investing Activities    
Proceeds from sale of assets 29,000 3,412
Purchase of improvements and equipment 89 (126)
Issuance of bridge loan 0 (350)
Release of escrow deposit 300 0
Net Cash Provided by Investing Activities 29,389 2,936
Financing Activities    
Contingent purchase price payments 0 (675)
Net proceeds from bridge loan 1,712 0
Repayment of long-term debt (14,135) (1,618)
Fees paid on early extinguishment of debt (466) (32)
Net proceeds from issuance of common stock 0 5,865
Payment of withholding taxes related to stock-based employee compensation (2) (151)
Net Cash (Used In) Provided by Financing Activities (12,891) 3,389
Net Increase (Decrease) in Cash and Cash Equivalents 8,914 (3,474)
Cash and Cash Equivalents - Beginning of period 2,181 5,580
Cash and Cash Equivalents - End of period 11,095 2,106
Supplemental Disclosure of Cash Flows Information    
Interest 362 1,008
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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