v3.10.0.1
Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Sep. 30, 2018
Dec. 31, 2017
Current assets:    
Cash and cash equivalents $ 6,793 $ 539
Trade accounts receivable, net of allowance of $116 and $63, respectively 1,201 1,240
Prepaid expenses and other current assets 437 190
Inventories, net 817 775
Current assets held for sale 1,708 1,602
Total current assets 10,956 4,346
Property and equipment, net 150 284
Intangible assets, net 48
Goodwill 6,163
Other long-term assets 35 35
Long-term assets held for sale 959 1,162
Long-term intangible assets held for sale 2,249 2,651
Total assets 14,397 14,641
Current liabilities:    
Accounts payable 703 1,732
Accrued liabilities 687 2,682
Debt 605
Derivative liabilities, current portion 1,566 896
Current liabilities held for sale 2,500 2,356
Total current liabilities 5,456 8,271
Deferred rent 205 179
Other long-term liabilities 141 288
Derivative liabilities, net of current portion 505 461
Total liabilities 6,307 9,199
Commitments and contingencies
Stockholders' equity:    
Convertible preferred stock, $0.01 par value, 130,000,000 shares authorized; 4,402 shares issued and outstanding.
Common stock, $0.01 par value, 250,000,000 shares authorized, 21,041,962 and 3,028,065 shares issued and outstanding as of September 30, 2018 and December 31, 2017, respectively. 210 30
Additional paid-in capital 237,467 226,041
Accumulated deficit (229,587) (220,629)
Total stockholders' equity 8,090 5,442
Total liabilities and stockholders' equity $ 14,397 $ 14,641

Source

v3.10.0.1
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
Income Statement [Abstract]        
Product revenue
Costs of revenue
Gross profit
Operating expenses:        
Research and development 549 1,023 1,979 2,624
General and administrative 654 901 3,316 2,742
Sales and marketing 50 42 204
Goodwill impairment 6,162 6,162
Total operating expenses 7,365 1,974 11,499 5,570
Loss from operations (7,365) (1,974) (11,499) (5,570)
Other income (expenses):        
Interest expense (83) (270) (1,367) (1,008)
Loss on extinguishment of derivative liabilities (1,252)
Offering costs (682) (131)
Loss on extinguishment of debt (340)
Change in fair value of derivative liabilities 4,480 756 6,500 2,938
Other income (loss), net 1 1 6 (2)
Total other income, net 4,398 487 2,865 1,797
Net loss before income taxes (2,967) (1,487) (8,634) (3,773)
Provision for income taxes
Loss from continuing operations (2,967) (1,487) (8,634) (3,773)
Loss from discontinued operations (280) (582) (324) (511)
Net loss (3,247) (2,069) (8,958) (4,284)
Deemed dividend related to the beneficial conversion feature and accretion of a discount on Series B preferred stock (7,641) (14,975)
Net loss attributable to common stockholders $ (10,888) $ (2,069) $ (23,933) $ (4,284)
Net loss per share        
Basic and diluted - continuing operations $ (0.24) $ (0.49) $ (1.18) $ (1.29)
Basic and diluted - discontinued operations (0.02) (0.19) (0.04) (0.18)
Basic and diluted - deemed dividend and accretion of a discount on conversion of Series B preferred stock (0.61) (2.05)
Basic and diluted - attributable to common stockholders $ (0.87) $ (0.68) $ (3.28) $ (1.47)
Weighted average common shares outstanding:        
Basic and diluted 12,559,129 3,022,073 7,306,295 2,918,240

Source

v3.10.0.1
Condensed Consolidated Statements of Cash Flow (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Cash flow from operating activities    
Net loss $ (8,958) $ (4,284)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation expense 75
Amortization of intangible assets
Amortization of lease incentive for tenant improvements 25 15
Non-cash interest expense 956 675
Loss on extinguishment of debt 340
Stock based compensation 40 173
Change in fair value of derivative liabilities (6,500) (2,938)
Loss on disposal of equipment 54 2
Loss on extinguishment of derivative liabilities 1,252
Provision for inventory reserve 1,300
Offering costs 682 131
Loss on impairment of goodwill 6,162
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets (246) 63
Inventories (47) 34
Accounts payable and accrued liabilities (899) (323)
Net cash used in operating activities - continuing operations (7,746) (5,312)
Net cash (used in) operating activities - discontinued operations (207) 756
Net cash used in operating activities (7,953) (4,396)
Cash flows from investing activities    
Purchase of property and equipment (152) (917)
Purchase of intangible asset (50)
Proceeds from sale of property and equipment 8
Net cash used in investing activities (194) (917)
Cash flows from financing activities    
Proceeds from issuance of warrant derivative liabilities, net of issuance costs ($682) 7,577 679
Proceeds from issuance of preferred stock, net of issuance costs ($668) 6,749
Proceeds from issuance of common stock in connection with the exercise of warrants, net of issuance costs 1,652
Proceeds from the issuance of debt 705 2,500
Proceeds from the issuance of common stock 3,128
Issuance costs paid for debt (50)
Payments on debt (2,282) (5,043)
Net cash provided by financing activities 14,401 1,214
Net increase (decrease) in cash and cash equivalents 6,254 (4,099)
Cash and cash equivalents at beginning of period 539 6,915
Cash and cash equivalents at end of period 6,793 2,816
Noncash investing and financing activities    
Debt exchange 2,265
Payment of debt with common stock 1,453
Extinguishment of derivative liabilities through exercise of warrants 565
Warrants issued in association with debt 98
Debt discount from warrants issued with debt 189
Supplemental cash flow information    
Cash paid for interest $ 405 $ 333

Source