Financials

v3.8.0.1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2017
Dec. 31, 2016
Current assets:    
Cash and cash equivalents $ 923 $ 1,866
Accounts receivable, net 4 8
Inventories, net 1,779 1,862
Prepaid expenses and other current assets 163 85
Total current assets 2,869 3,821
Deferred offering costs 102
Fixed assets, net 184 233
Intangible assets, net 1,640 1,907
Total assets 4,795 5,961
Current liabilities:    
Accounts payable 176 226
Accrued expenses and other current liabilities 255 361
Deferred revenue 56
Total current liabilities 431 643
Total liabilities 431 643
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 December 31, 2017 and 2016; 6,340,604 and 5,344,372 shares issued and outstanding at December 31, 2017 and 2016, respectively 6 5
Additional paid-in capital 36,202 33,099
Accumulated deficit (31,844) (27,786)
Total stockholders' equity 4,364 5,318
Total liabilities and stockholders' equity $ 4,795 $ 5,961
v3.8.0.1
Consolidated Statements of Operations - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Statements of Operations [Abstract]    
Net revenues $ 526 $ 327
Cost of sales 308 319
Gross profit 218 8
Operating expenses    
Sales and marketing 822 846
Personnel and benefits 1,450 1,853
General and administrative 2,014 1,616
Total operating expenses 4,286 4,315
Operating loss (4,068) (4,307)
Other income (expense):    
Other income 12 1
Interest expense (2) (35)
Total other income (expense) 10 (34)
Loss before income taxes (4,058) (4,341)
Income tax provision
Net loss $ (4,058) $ (4,341)
Net loss per share attributable to common shareholders:    
Basic and diluted $ (0.69) $ (0.90)
Weighted average number of common shares outstanding:    
Basic and diluted 5,875 4,806
v3.8.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Cash Flows From Operating Activities:    
Net loss $ (4,058) $ (4,341)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 51 54
Amortization 267 210
Change in contract liability (117)
Provision for inventory reserve 2 107
Bad debt expense 59
Share-based compensation 160 392
Impairment charge 44
Changes in operating assets and liabilities:    
(Increase) decrease in accounts receivable (55) 398
Decrease (increase) in inventories 81 (501)
(Increase) decrease in prepaid expenses and other current assets (78) 437
Decrease in deferred revenue (56)
Decrease in accounts payable and accrued expenses (156) (356)
Net cash used in operating activities (3,783) (3,673)
Cash Flows From Investing Activities:    
Purchase of capitalized software (380)
Purchases of fixed assets (2) (1)
Net cash used in investing activities (2) (381)
Cash Flows From Financing Activities:    
Proceeds from issuance of common stock, net 2,944 5,141
Deferred offering costs (102)
Repayments of term note (100)
Net cash provided by financing activities 2,842 5,041
Net (decrease) increase in cash (943) 987
Cash at beginning of year 1,866 879
Cash at end of year 923 1,866
Cash paid during the year for:    
Interest 2 34
Income taxes
Supplemental schedule of non-cash investing and financing activities:    
Issuance of common stock upon conversion of convertible note $ 621