Financials

v3.19.2
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2019
Dec. 31, 2018
Current assets:    
Cash $ 1,158 $ 15
Accounts receivable, net 16 78
Other current asset 1,124
Inventories, net 1,677 1,676
Prepaid expenses 147 10
Total current assets 2,998 2,903
Operating lease right of use asset 213
Deferred offering costs 92 108
Other asset 50
Fixed assets, net 136 149
Intangible assets, net 1,080 1,245
Total assets 4,519 4,455
Current liabilities:    
Accounts payable 126 236
Accrued expenses and other current liabilities 136 383
Operating lease liabilities - current portion 46
Related party promissory note payable and accrued interest 785 1,015
Total current liabilities 1,093 1,634
Long-term liabilities:    
Operating lease liabilities - net of current portion 172
Total liabilities 1,265 1,634
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 June 30, 2019 and December 31, 2018; 9,170,658 and 7,481,723 shares issued and outstanding at June 30, 2019 and December 31, 2018, respectively 9 8
Additional paid-in capital 40,462 37,880
Accumulated deficit (37,217) (35,067)
Total stockholders' equity 3,254 2,821
Total liabilities and stockholders' equity $ 4,519 $ 4,455
v3.19.2
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Income Statement [Abstract]        
Net revenues $ 154 $ 88 $ 303 $ 145
Cost of sales 81 62 142 93
Gross profit 73 26 161 52
Operating expenses:        
Selling, marketing and research 337 235 612 629
Personnel and benefits 470 348 890 765
General and administrative 432 477 788 904
Total operating expenses 1,239 1,060 2,290 2,298
Operating loss (1,166) (1,034) (2,129) (2,246)
Other expense (9) (21) (1)
Loss before income taxes (1,175) (1,034) (2,150) (2,247)
Net loss $ (1,175) $ (1,034) $ (2,150) $ (2,247)
Net loss per share attributable to common shareholders:        
Basic and diluted $ (0.13) $ (0.14) $ (0.23) $ (0.33)
Weighted average number of common shares outstanding:        
Basic and diluted 9,170,658 7,249,782 9,170,658 6,877,186
v3.19.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Cash Flows From Operating Activities:    
Net loss $ (2,150) $ (2,247)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 13 20
Amortization 165 144
Stock-based compensation 71 165
Deferred offering costs 96
Changes in operating assets and liabilities:    
Decrease in accounts receivable 62 2
Decrease in other current asset 1,124
(Increase) decrease in inventories (1) 12
(Increase) decrease in prepaid expenses (137) 51
Increase in other assets 50
Increase in accrued interest on promissory note payable 20
Decrease in accounts payable and accrued expenses (352) (13)
Net cash used in operating activities (1,135) (1,770)
Cash Flows From Financing Activities:    
Proceeds from registered direct offering of common stock, net 428
Deferred offering costs from at-the-market transaction (49)
Deferred offering costs from private placement (45)
Net proceeds from issuance of common stock in private placement 1,850 1,449
Net cash provided by financing activities 2,278 1,355
Net increase (decrease) in cash 1,143 (415)
Cash at beginning of period 15 923
Cash at end of period 1,158 508
Supplemental information related to leases:    
Cash paid on operating leases 38
Supplemental schedule of non-cash investing and financing activities:    
Conversion of related party promissory note into shares of common stock 250
Reclassification of deferred offering costs to additional paid in capital $ 16 $ 6