Financials

v3.10.0.1
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2018
Dec. 31, 2017
Current assets:    
Cash $ 459 $ 923
Accounts receivable, net 5 4
Inventories, net 1,741 1,779
Prepaid expenses and other current assets 108 163
Total current assets 2,313 2,869
Deferred offering costs 108 102
Fixed assets, net 157 184
Intangible assets, net 1,425 1,640
Total assets 4,003 4,795
Current liabilities:    
Accounts payable 169 176
Accrued expenses and other current liabilities 237 255
Promissory note payable and accrued interest 752
Total current liabilities 1,158 431
Total liabilities 1,158 431
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 September 30, 2018 and at December 31, 2017; 7,473,723 and 6,340,604 shares issued and outstanding at September 30, 2018 and December 31, 2017, respectively 7 6
Additional paid-in capital 37,840 36,202
Accumulated deficit (35,002) (31,844)
Total stockholders' equity 2,845 4,364
Total liabilities and stockholders' equity $ 4,003 $ 4,795
v3.10.0.1
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
Statements of Operations [Abstract]        
Net revenues $ 66 $ 160 $ 211 $ 369
Cost of sales 59 65 150 244
Gross profit 7 95 61 125
Operating expenses:        
Selling, marketing and research 128 91 756 599
Personnel and benefits 396 309 1,162 1,053
General and administrative 392 452 1,298 1,461
Total operating expenses 916 852 3,216 3,113
Operating loss (909) (757) (3,155) (2,988)
Other income 5   13
Interest expense (2) (1) (3) (1)
Net loss $ (911) $ (753) $ (3,158) $ (2,976)
Net loss per share attributable to common shareholders:        
Basic and diluted $ (0.12) $ (0.13) $ (0.45) $ (0.52)
Weighted average number of common shares outstanding:        
Basic and diluted 7,473,723 5,844,372 7,077,499 5,736,637
v3.10.0.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Cash Flows From Operating Activities:    
Net loss $ (3,158) $ (2,976)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 27 39
Amortization 215 196
Stock-based compensation 195 121
Deferred offering costs 96
Bad debt expense 59
Inventory reserve 25
Changes in operating assets and liabilities:    
(Increase) decrease in accounts receivable (1) (107)
Decrease in inventories, net 13 41
Decrease (increase) in prepaid expenses 55 (415)
Decrease in deferred revenue (46)
Decrease in accounts payable and accrued interest and other expenses (17) (112)
Net cash used in operating activities (2,550) (3,200)
Cash Flows From Financing Activities:    
Deferred offering costs from at-the-market transaction (108) (125)
Proceeds from promissory note payable 750
Proceeds from registered direct offering of common stock, net of costs 1,444 1,927
Net cash provided by financing activities 2,086 1,802
Net decrease in cash (464) (1,398)
Cash at beginning of period 923 1,866
Cash at end of period 459 468
Supplemental schedule of non-cash investing and financing activities:    
Recognition of deferred offering costs as a reduction of equity in connection with the at-the-market offering $ 6