Financials

v3.20.2
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2020
Dec. 31, 2019
Current assets:    
Cash $ 1,334 $ 64
Accounts receivable, net 33 5
Inventories, net 1,474 1,666
Prepaid expenses 187 23
Total current assets 3,028 1,758
Operating lease right of use asset 165 192
Deferred offering costs 95
Fixed assets, net 88 97
Intangible assets, net 791 896
Total assets 4,072 3,038
Current liabilities:    
Accounts payable 108 277
Accrued expenses and other current liabilities 3 230
Operating lease liabilities - current portion 37 46
Related party promissory note payable and accrued interest 654 1,159
Total current liabilities 802 1,712
Long-term liabilities:    
Note Payable PPP loan 310
Operating lease liabilities - net of current portion 132 146
Total liabilities 1,244 1,858
Commitments and contingencies (Note 11)  
Stockholders' equity:    
Preferred stock, $0.001 par value; 500,000 shares authorized; no shares issued and outstanding
Common stock, $0.001 par value; 15,000,000 shares authorized; 11,846,795 and 9,176,908 shares issued and outstanding at June 30, 2020 and December 31, 2019, respectively 12 9
Additional paid-in capital 43,778 40,496
Accumulated deficit (40,962) (39,325)
Total stockholders' equity 2,828 1,180
Total liabilities and stockholders' equity $ 4,072 $ 3,038
v3.20.2
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Income Statement [Abstract]        
Net revenues $ 329 $ 154 $ 619 $ 303
Cost of revenues 172 81 330 142
Gross profit 157 73 289 161
Operating expenses:        
Selling, marketing and research 227 337 429 612
Personnel and benefits 365 470 833 890
General and administrative 329 432 644 788
Total operating expenses 921 1,239 1,906 2,290
Operating loss (764) (1,166) (1,617) (2,129)
Other expense, net (7) (9) (20) (21)
Net loss $ (771) $ (1,175) $ (1,637) $ (2,150)
Net loss per share attributable to common shareholders:        
Basic and diluted $ (0.07) $ (0.13) $ (0.15) $ (0.23)
Weighted average number of common shares outstanding:        
Basic and diluted 11,404,497 9,170,658 10,562,389 9,170,658
v3.20.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Cash Flows From Operating Activities:    
Net loss $ (1,637) $ (2,150)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 9 13
Amortization 105 165
Stock-based compensation 227 71
Non-cash lease expense 27
Changes in operating assets and liabilities:    
(Increase) decrease in accounts receivable (28) 62
Decrease in other current asset 1,124
Decrease (increase) in inventories 192 (1)
Increase in prepaid expenses and other assets (164) (87)
Decrease in operating lease liabilities (23)
Increase in accrued interest expense 20 20
Decrease in accounts payable and accrued expenses (396) (352)
Net cash used in operating activities (1,668) (1,135)
Cash Flows From Financing Activities:    
Proceeds from registered direct offering of common stock 1,298 428
Proceeds from related party promissory note 300
Proceeds from note payable PPP loan 310  
Proceeds from issuance of common stock in private placement 1,030 1,850
Net cash provided by financing activities 2,938 2,278
Net increase in cash 1,270 1,143
Cash at beginning of period 64 15
Cash at end of period 1,334 1,158
Supplemental schedule of non-cash investing and financing activities:    
Conversion of related party promissory note payable into shares of common stock 825 250
Reclassification of deferred offering costs to additional paid in capital $ 95 $ 16