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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2023
Dec. 31, 2022
Current assets:    
Cash and cash equivalents $ 25,660 $ 18,592
Prepaid expenses and other current assets 2,050 1,960
Total current assets 27,710 20,552
Property and equipment, net 0 0
Other 490 733
Total assets 28,200 21,285
Current liabilities:    
Accounts payable 6,431 3,890
Accrued expenses 9,182 9,058
Accrued dividends payable 63 64
Total current liabilities 15,676 13,012
Convertible notes payable and accrued interest, net of discounts - related party (Note 5) 30,902 29,964
Derivative liabilities (Note 6) 1,004 573
Borrowing and accrued interest under convertible line of credit, net of debt discount - related party (Note 10) 40,839 9,864
Other liabilities 20 66
Total liabilities 88,441 53,479
Commitments and contingencies (Note 12)
Series C 6% super dividend redeemable convertible preferred stock; 1,000 shares authorized, 176 issued and outstanding at December 31, 2023 and 2022, redemption value: $8,177,000, liquidation value: $1,786,000 at December 31,2023 1,723 1,723
Stockholders' equity (deficit):    
Undesignated stock, $0.01 par value; 20,000,000 shares authorized at December 31, 2023 and 2022, 20,000,000 shares designated at December 31, 2023 and 2022, respectively 0 0
Series A 12% convertible preferred stock; 1,742,500 shares authorized, 1,235,000 and 1,260,000 issued and outstanding at December 31, 2023 and 2022, respectively, liquidation value $1,235,000 at December 31, 2023 500 510
Common stock, $0.001 par value; 150,000,000 shares authorized at December 31, 2023 and 2022, 61,852,914 and 59,426,005 issued and outstanding at December 31, 2023 and 2022, respectively 61 59
Additional paid-in capital 291,847 275,081
Accumulated deficit (354,372) (309,567)
Total stockholders' deficit (61,964) (33,917)
Total liabilities, redeemable convertible preferred stock and stockholders' deficit $ 28,200 $ 21,285