Financials

v3.19.1
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2019
Dec. 31, 2018
Current assets:    
Cash $ 2,197 $ 15
Accounts receivable, net 19 78
Other current asset 1,124
Inventories, net 1,686 1,676
Prepaid expenses 153 10
Total current assets 4,055 2,903
Other asset 50 50
Deferred offering costs 92 108
Operating lease right of use asset 224
Fixed assets, net 142 149
Intangible assets, net 1,173 1,245
Total assets 5,736 4,455
Current liabilities:    
Accounts payable 211 236
Accrued expenses and other current liabilities 118 383
Operating lease liabilities - current portion 46
Related party promissory note payable and accrued interest 775 1,015
Total current liabilities 1,150 1,634
Long-term liabilities:    
Operating lease liabilities - net of current portion 185
Total liabilities 1,335 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 March 31, 2019 and December 31, 2018; 9,170,658 and 7,481,723 shares issued and outstanding at March 31, 2019 and December 31, 2018, respectively 9 8
Additional paid-in capital 40,434 37,880
Accumulated deficit (36,042) (35,067)
Total stockholders' equity 4,401 2,821
Total liabilities and stockholders' equity $ 5,736 $ 4,455
v3.19.1
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Income Statement [Abstract]    
Net revenues $ 149 $ 57
Cost of sales 61 31
Gross profit 88 26
Operating expenses:    
Selling, marketing and research 275 394
Personnel and benefits 420 417
General and administrative 356 427
Total operating expenses 1,051 1,238
Operating loss (963) (1,212)
Other (expense) income, net (12) (1)
Net loss $ (975) $ (1,213)
Net loss per share attributable to common shareholders:    
Basic and diluted $ (0.13) $ (0.19)
Weighted average number of common shares outstanding:    
Basic and diluted 7,669,181 6,504,590
v3.19.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Cash Flows From Operating Activities:    
Net loss $ (975) $ (1,213)
Adjustments to reconcile net loss to net cash from operating activities:    
Depreciation 7 11
Amortization 72 72
Stock-based compensation 243 123
Changes in operating assets and liabilities:    
Decrease in accounts receivable 59 3
Increase in inventories (10) (3)
Increase in operating lease right of use asset 224
Decrease (increase) in prepaid expenses and other assets 995 2
Increase in operating lease liabilities (231)
Increase (decrease) in accounts payable and accrued expenses (280) 16
Net cash provided by (used in) operating activities 104 (989)
Cash Flows From Financing Activities:    
Proceeds from registered direct offering of common stock, net 228 296
Net proceeds from issuance of common stock in private placement 1,850
Net cash provided by financing activities 2,078 296
Net increase (decrease) in cash 2,182 (693)
Cash at beginning of period 15  
Cash at end of period 2,197 230
Supplemental schedule of non-cash investing and financing activities:    
Conversion of related party promissory note payable into shares of common stock 250
Reclassification of deferred offering costs to additional paid in capital $ 16 $ 6