Financials

v3.8.0.1
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2017
Dec. 31, 2016
Current assets:    
Cash $ 468 $ 1,866
Accounts receivable, net 56 8
Inventories, net 1,821 1,862
Prepaid expenses and other current assets 500 85
Total current assets 2,845 3,821
Deferred offering costs 125
Fixed assets, net 194 233
Intangible assets, net 1,711 1,907
Total assets 4,875 5,961
Current liabilities:    
Accounts payable 107 226
Accrued expenses and other current liabilities 368 361
Deferred revenue 10 56
Total current liabilities 485 643
Total liabilities 485 643
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 September 30, 2017 and December 31, 2016; 5,844,372 and 5,344,372 shares issued and outstanding at September 30, 2017 and December 31, 2016, respectively 6 5
Additional paid-in capital 35,146 33,099
Accumulated deficit (30,762) (27,786)
Total stockholders' equity 4,390 5,318
Total liabilities and stockholders' equity $ 4,875 $ 5,961
v3.8.0.1
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Statements of Operations [Abstract]        
Net revenues $ 160 $ 39 $ 369 $ 300
Cost of sales 65 30 244 292
Gross profit 95 9 125 8
Operating expenses        
Selling, marketing and advertising 90 97 557 778
Research & development 1 4 42 16
Personnel and benefits 269 281 932 1,071
Share-based compensation 39 38 121 264
General and administrative 382 391 1,206 1,233
Amortization of acquired intangibles 71 53 196 157
Bad debt     59  
Loss on asset impairment       44
Total operating expenses 852 864 3,113 3,563
Operating loss (757) (855) (2,988) (3,555)
Other income (expense)        
Other income 5   13  
Interest (expense) (1) (11) (1) (34)
Total other income (expense, net) 4 (11) 12 (34)
Net loss $ (753) $ (866) $ (2,976) $ (3,589)
Net loss per share attributable to common shareholders:        
Basic and diluted $ (0.13) $ (0.17) $ (0.52) $ (0.76)
Weighted average number of common shares outstanding:        
Basic and diluted 5,844 5,064 5,773 4,708
v3.8.0.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Cash Flows From Operating Activities:    
Net loss $ (2,976) $ (3,589)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 39 41
Amortization 196 157
Provision for inventory reserve (2) 94
Accretion of contract liability 8
Share-based compensation 121 264
Bad debt (59)
Impairment charge   44
Changes in operating assets and liabilities:    
Decrease in accounts receivable 11 405
Decrease (increase) in inventories 43 (480)
(Increase) decrease in prepaid expenses and other current assets (415) 461
Decrease in deferred revenue (46)
Decrease in accounts payable and accrued expenses (112) (436)
Net cash used in operating activities (3,200) (3,031)
Cash Flows From Financing Activities:    
Repayment of term note (100)
Deferred offering costs (125) (109)
Proceeds from registered direct offering of common stock, net of offering costs 1,927 5,250
Net cash provided by financing activities 1,802 5,041
Net (decrease) increase in cash (1,398) 2,010
Cash at beginning of period 1,866 879
Cash at end of period 468 2,889
Cash paid during the period for:    
Interest $ 2