Financials

v3.19.3
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2019
Dec. 31, 2018
Current assets:    
Cash $ 396 $ 15
Accounts receivable, net 44 78
Other current asset 1,124
Inventories, net 1,625 1,676
Prepaid expenses 98 10
Total current assets 2,163 2,903
Operating lease right of use asset 203  
Deferred offering costs 95 108
Other assets 50
Fixed assets, net 129 149
Intangible assets, net 983 1,245
Total assets 3,573 4,455
Current liabilities:    
Accounts payable 145 236
Accrued expenses and other current liabilities 43 383
Deferred revenue 20
Operating lease liabilities - current portion 46
Related party promissory note payable and accrued interest 794 1,015
Total current liabilities 1,048 1,634
Long-term liabilities:    
Operating lease liabilities - net of current portion 160
Total liabilities 1,208 1,634
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, 2019 and December 31, 2018; 9,176,908 and 7,481,723 shares issued and outstanding at September 30, 2019 and December 31, 2018, respectively 9 8
Additional paid-in capital 40,494 37,880
Accumulated deficit (38,138) (35,067)
Total stockholders' equity 2,365 2,821
Total liabilities and stockholders' equity $ 3,573 $ 4,455
v3.19.3
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Income Statement [Abstract]        
Net revenues $ 350 $ 66 $ 653 $ 211
Cost of sales 174 59 316 150
Gross profit 176 7 337 61
Operating expenses:        
Selling, marketing and research 339 128 951 756
Personnel and benefits 406 396 1,226 1,162
General and administrative 342 392 1,200 1,298
Total operating expenses 1,087 916 3,377 3,216
Operating loss (911) (909) (3,040) (3,155)
Interest expense (10) (2) (31) (3)
Loss before income taxes (921) (911) (3,071) (3,158)
Net loss $ (921) $ (911) $ (3,071) $ (3,158)
Net loss per share attributable to common shareholders:        
Basic and diluted $ (0.10) $ (0.12) $ (0.35) $ (0.45)
Weighted average number of common shares outstanding:        
Basic and diluted 9,173,851 7,473,723 8,675,666 7,077,499
v3.19.3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Cash Flows From Operating Activities:    
Net loss $ (3,071) $ (3,158)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 20 27
Amortization 262 215
Stock-based compensation 93 195
Deferred offering costs 96
Inventory reserve 25
Changes in operating assets and liabilities:    
Decrease (increase) in accounts receivable 34 (1)
Decrease in other current asset 1,124
Decrease in inventories 51 13
(Increase) decrease in prepaid expenses (88) 55
Decrease in other asset bond deposit 50
Increase in deferred revenue 20
Increase in accrued interest on promissory note payable 29
Decrease in accounts payable and accrued expenses (428) (17)
Net cash used in operating activities (1,904) (2,550)
Cash Flows From Financing Activities:    
Proceeds from registered direct offering of common stock, net 438
Proceeds from related promissory note payable 750
Deferred offering costs from at-the-market transaction (3) (108)
Deferred offering costs from private placement (45)
Net proceeds from issuance of common stock in private placement 1,850 1,489
Net cash provided by financing activities 2,285 2,086
Net increase (decrease) in cash 381 (464)
Cash at beginning of period 15 923
Cash at end of period 396 459
Cash paid during the year for    
Interest
Income taxes
Operating leases 57
Supplemental schedule of non-cash investing and financing activities:    
Conversion of related party promissory note into shares of common stock 250
Reclassification of deferred offering costs to additional paid in capital $ 16 $ 6