Financials

v3.20.1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2019
Dec. 31, 2018
Current assets:    
Cash $ 64 $ 15
Accounts receivable, net 5 78
Other current asset 1,124
Inventories, net 1,666 1,676
Prepaid expenses 23 10
Total current assets 1,758 2,903
Operating lease right of use asset 192
Other asset 50
Deferred offering costs 95 108
Fixed assets, net 97 149
Intangible assets, net 896 1,245
Total assets 3,038 4,455
Current liabilities:    
Accounts payable 277 236
Accrued expenses and other current liabilities 230 383
Operating lease liabilities - current portion 46
Related party promissory note payable and accrued interest 1,159 1,015
Total current liabilities 1,712 1,634
Long-term liabilities:    
Operating lease liabilities - net of current portion 146
Total liabilities 1,858 1,634
Stockholders' equity:    
Preferred stock, $.001 par value; 500,000 shares authorized; no shares issued and outstanding
Common stock, $.001 par value; 15,000,000 shares authorized; 9,176,908 and 7,481,723 shares issued and outstanding at December 31, 2019 and 2018, respectively 9 8
Additional paid-in capital 40,496 37,880
Accumulated deficit (39,325) (35,067)
Total stockholders' equity 1,180 2,821
Total liabilities and stockholders' equity $ 3,038 $ 4,455
v3.20.1
Consolidated Statements of Operations - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Income Statement [Abstract]    
Net revenues $ 1,032 $ 360
Cost of revenues 397 248
Gross profit 635 112
Operating expenses:    
Selling, marketing and research 1,276 894
Personnel and benefits 1,897 1,718
General and administrative 1,680 1,829
Total operating expenses 4,853 4,441
Operating loss (4,218) (4,329)
Other expense:    
Other expense (2)
Interest expense (40) (16)
Total other expense (40) (18)
Loss before income taxes (4,258) (4,347)
Income tax benefit 1,124
Net loss $ (4,258) $ (3,223)
Net loss per share attributable to common shareholders:    
Basic and diluted $ (0.46) $ (0.45)
Weighted average number of common shares outstanding:    
Basic and diluted 8,803,581 7,139,312
v3.20.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Cash Flows From Operating Activities:    
Net loss $ (4,258) $ (3,223)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 52 35
Amortization 349 395
Bad debt expense 83
Non-cash lease expense 44
Share-based compensation 306 235
Deferred offering costs 13 97
Provision for inventory reserve (114) 25
Changes in operating assets and liabilities:    
Increase in accounts receivable (10) (74)
Decrease (increase) in other asset 1,124 (1,124)
Decrease in inventories 124 78
(Increase) decrease in prepaid expenses (13) 103
Decrease in other asset 50
Increase in accrued interest on promissory note payable 39
Decrease in operating lease liability (53)  
(Decrease) increase in accounts payable and accrued expenses (103) 203
Net cash used in operating activities (2,367) (3,250)
Cash Flows From Financing Activities:    
Net proceeds from issuance of common stock in private placement 1,850 978
Net proceeds from registered direct offering of common stock 211 472
Advances from related party 250
Payments to related party (250)
Deferred offering costs from at-the-market transaction (108)
Proceeds from related party promissory note payable 355 1,000
Net cash provided by financing activities 2,416 2,342
Net increase (decrease) in cash 49 (908)
Cash at beginning of year 15 923
Cash at end of year 64 15
Interest 1
Income taxes
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 $ 6