Financials

v3.20.1
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2020
Dec. 31, 2019
Current assets:    
Cash $ 678 $ 64
Accounts receivable, net 23 5
Inventories, net 1,570 1,666
Prepaid expenses 127 23
Total current assets 2,398 1,758
Operating lease right of use asset 178 192
Deferred offering costs 79 95
Fixed assets, net 92 97
Intangible assets, net 844 896
Total assets 3,591 3,038
Current liabilities:    
Accounts payable 130 277
Accrued expenses and other current liabilities 18 230
Operating lease liabilities - current portion 37 46
Related party promissory note payable and accrued interest 646 1,159
Total current liabilities 831 1,712
Long-term liabilities:    
Operating lease liabilities - net of current portion 146 146
Total liabilities 977 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; 11,030,100 and 9,176,908 shares issued and outstanding at March 31, 2020 and December 31, 2019, respectively 11 9
Additional paid-in capital 42,794 40,496
Accumulated deficit (40,191) (39,325)
Total stockholders' equity 2,614 1,180
Total liabilities and stockholders' equity $ 3,591 $ 3,038
v3.20.1
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Income Statement [Abstract]    
Net revenues $ 290 $ 149
Cost of revenues 158 61
Gross profit 132 88
Operating expenses:    
Selling, marketing and research 202 275
Personnel and benefits 468 420
General and administrative 315 356
Total operating expenses 985 1,051
Operating loss (853) (963)
Other expense, net (13) (12)
Net loss $ (866) $ (975)
Net loss per share attributable to common shareholders:    
Basic and diluted $ (0.09) $ (0.13)
Weighted average number of common shares outstanding:    
Basic and diluted 9,717,438 7,669,181
v3.20.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Cash Flows From Operating Activities:    
Net loss $ (866) $ (975)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:    
Depreciation 5 7
Amortization 52 72
Stock-based compensation 217 243
Changes in operating assets and liabilities:    
(Increase) decrease in accounts receivable (19) 59
Decrease (increase) in inventories 96 (10)
Increase in operating lease right of use asset 14 224
(Increase) decrease in prepaid expenses and other assets (88) 995
Decrease in operating lease liabilities (9) (231)
Increase in accrued interest expense 13
Decrease in accounts payable and accrued expenses (359) (280)
Net cash (used in) provided by operating activities (944) 104
Cash Flows From Financing Activities:    
Proceeds from registered direct offering of common stock 228 228
Proceeds from related party promissory note 300
Proceeds from issuance of common stock in private placement 1,030 1,850
Net cash provided by financing activities 1,558 2,078
Net increase in cash 614 2,182
Cash at beginning of period 64 15
Cash at end of period 678 2,197
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 $ 16