Financials

v3.7.0.1
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2017
Dec. 31, 2016
Current assets:    
Cash $ 2,239 $ 1,866
Accounts receivable, net 65 8
Inventories, net 1,865 1,862
Prepaid expenses and other current assets 266 85
Total current assets 4,435 3,821
Deferred offering costs 125
Fixed assets, net 220 233
Total intangible assets, net 1,854 1,907
Total assets 6,634 5,961
Current liabilities:    
Accounts payable 272 226
Accrued expenses and other current liabilities 194 417
Total current liabilities 466 643
Total liabilities 466 643
Commitments and contingencies
Stockholders' equity:    
Preferred stock, $.001 par value; 500,000 shares authorized; no shares issued and outstanding
Common stock, $.001 par value; 12,000,000 shares authorized at March 31, 2017 and at December 31, 2016; 5,844,372 and 5,344,372 shares issued and outstanding at March 31, 2017 and December 31, 2016, respectively 6 5
Additional paid-in capital 35,065 33,099
Accumulated deficit (28,903) (27,786)
Total stockholders' equity 6,168 5,318
Total liabilities and stockholders' equity $ 6,634 $ 5,961
v3.7.0.1
Condensed Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Statements of Operations [Abstract]    
Net revenues $ 150 $ 195
Cost of sales (excludes amortization of acquired intangibles) 135 213
Gross profit (loss) 15 (18)
Operating expenses    
Selling, marketing and research 300 161
Personnel and benefits 292 391
Share-based compensation 41 97
General and administrative 451 446
Amortization of acquired intangibles 53 52
Loss on asset impairment 44
Total operating expenses 1,137 1,191
Operating loss (1,122) (1,209)
Other income (expense)    
Other income 5
Interest expense (11)
Total other income (expense) 5 (11)
Loss before income taxes (1,117) (1,220)
Income tax provision
Net loss $ (1,117) $ (1,220)
Net loss per share attributable to common shareholders:    
Basic and diluted $ (0.2) $ (0.31)
Weighted average number of common shares outstanding:    
Basic and diluted 5,627,705 3,997,806
v3.7.0.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Cash Flows From Operating Activities:    
Net loss $ (1,117) $ (1,220)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 13 14
Amortization 53 52
Provision for inventory reserve 36
Accretion of contract liability 2
Stock-based compensation 41 97
Impairment charge 44
Changes in operating assets and liabilities:    
(Increase) decrease in accounts receivable (57) 361
(Increase) decrease in inventories (3) 40
(Increase) decrease in prepaid expenses (181) 163
Decrease in deferred revenue (56)
Decrease in accounts payable and accrued expenses (121) (292)
Net cash used in operating activities (1,428) (703)
Cash Flows From Financing Activities:    
Repayment of term note (100)
Deferred offering costs from at the market transaction (125)
Proceeds from registered direct offering of common stock, net of offering costs 1,926 5,141
Net cash provided by financing activities 1,801 5,041
Net increase in cash 373 4,338
Cash at beginning of period 1,866 879
Cash at end of period $ 2,239 $ 5,217