Financials

v3.10.0.1
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2018
Dec. 31, 2017
Current assets:    
Cash $ 508 $ 923
Accounts receivable, net 2 4
Inventories, net 1,767 1,779
Prepaid expenses and other current assets 112 163
Total current assets 2,389 2,869
Deferred offering costs 94 102
Fixed assets, net 164 184
Intangible assets, net 1,496 1,640
Total assets 4,143 4,795
Current liabilities:    
Accounts payable 249 176
Accrued expenses and other current liabilities 168 255
Total current liabilities 417 431
Total liabilities 417 431
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 June 30, 2018 and at December 31, 2017; 7,473,723 and 6,340,604 shares issued and outstanding at June 30, 2018 and December 31, 2017, respectively 7 6
Additional paid-in capital 37,810 36,202
Accumulated deficit (34,091) (31,844)
Total stockholders' equity 3,726 4,364
Total liabilities and stockholders' equity $ 4,143 $ 4,795
v3.10.0.1
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
Statements of Operations [Abstract]        
Net revenues $ 88 $ 59 $ 145 $ 209
Cost of sales 62 44 93 179
Gross profit 26 15 52 30
Operating expenses:        
Selling, marketing and research 235 208 629 508
Personnel and benefits 348 411 765 744
General and administrative 477 505 904 1,009
Total operating expenses 1,060 1,124 2,298 2,261
Operating loss (1,034) (1,109) (2,246) (2,231)
Other income (expense), net 3 (1) 8
Loss before income taxes (1,034) (1,106) (2,247) (2,223)
Net loss $ (1,034) $ (1,106) $ (2,247) $ (2,223)
Net loss per share attributable to common shareholders:        
Basic and diluted $ (0.14) $ (0.19) $ (0.33) $ (0.39)
Weighted average number of common shares outstanding:        
Basic and diluted 7,249,782 5,844,372 6,877,186 5,736,637
v3.10.0.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Cash Flows From Operating Activities:    
Net loss $ (2,247) $ (2,223)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 20 26
Amortization 144 124
Stock-based compensation 165 82
Deferred offering costs 96
Bad debt recovery (59)
Changes in operating assets and liabilities:    
Decrease in accounts receivable 2 59
Decrease in inventories, net 12 7
Decrease (increase) in prepaid expenses 51 (230)
Decrease in deferred revenue (36)
Decrease in accounts payable and accrued expenses (13) (273)
Net cash used in operating activities (1,770) (2,523)
Cash Flows From Financing Activities:    
Deferred offering costs from at-the-market transaction (49) (125)
Deferred offering costs from private placement (45)  
Proceeds from registered direct offering of common stock, net of costs 1,449 1,926
Net cash provided by financing activities 1,355 1,801
Net decrease in cash (415) (722)
Cash at beginning of period 923 1,866
Cash at end of period 508 1,144
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