Quarterly report pursuant to Section 13 or 15(d)

Prepaid Expenses, Accrued Expenses, Other Current Assets and Liabilities

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Prepaid Expenses, Accrued Expenses, Other Current Assets and Liabilities
6 Months Ended
Jun. 30, 2017
Prepaid Expenses, Accrued Expenses, Other Current Assets and Liabilities [Abstract]  
PREPAID EXPENSES, ACCRUED EXPENSES, OTHER CURRENT ASSETS AND LIABILITIES

NOTE 7 – PREPAID EXPENSES, ACCRUED EXPENSES, OTHER CURRENT ASSETS AND LIABILITIES

 

Prepaid Expenses and Other Current Assets

Prepaid expenses and other current assets consist of various payments that the Company has made in advance for goods or services to be received in the future. Prepaid expenses and other current assets at June 30, 2017 and December 31, 2016 consisted of the following:

 

(In thousand $)   June 30,
2017
    December 31,
2016
 
Prepaid insurance   $ 50     $ 27  
Prepaid inventory purchases     121       1  
Prepaid consulting     60       50  
Other     84       7  
Total prepaid expenses and other current assets   $ 315     $ 85  

  

Accrued Expenses and Other Current Liabilities

Accrued expenses and other current liabilities consist of estimated future payments that relate to the current and prior accounting periods. Management reviews these estimates regularly to determine their reasonableness. Accrued expenses and other current liabilities at June 30, 2017 and December 31, 2016 consisted of the following:

 

(In thousand $)   June 30,
2017
    December 31,
2016
 
Advertising and promotional expenses   $ 171     $ 171  
Professional fees     42       88  
Payroll related expenses     45       62  
Deferred rent     21       40  
Total accrued expenses and other current liabilities   $ 279     $ 361