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Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2019

Schedule of fair value measurements by level

The following tables summarize fair value measurements by level at December 31, 2019 and 2018, respectively, for assets and liabilities measured at fair value on a recurring basis (in thousands):


	Balance at December 31, 2019
	Level I		Level II		Level III		Total
Letter of credit¹	$	408	$	—	$	—	$	408
Total assets	$	408	$	—	$	—	$	408

Warrant liabilities	$	—	$	—	$	691	$	691
Total liabilities	$	—	$	—	$	691	$	691

¹$408,000 is included in restricted cash, long-term, on our balance sheet as of December 31, 2019.


	Balance at December 31, 2018
	Level I		Level II		Level III		Total
Letter of credit²	$	479	$	—	$	—	$	479
Total assets	$	479	$	—	$	—	$	479

Warrant liabilities	$	—	$	—	$	86	$	86
Total liabilities	$	—	$	—	$	86	$	86

²$71,000 is included in cash and restricted cash and $408,000 is included in restricted cash, long-term, on our balance sheet as of December 31, 2018.

Schedule of fair value measurements using significant Level III inputs

The fair value measurements using significant Level III inputs, and changes therein, for the years ended December 31, 2019 and 2018 are as follows:


	Level III Warrant Liabilities
Balance as of December 31, 2017	$	30
Issuance of warrants	—
Change in fair value	56
Balance as of December 31, 2018	$	86
ASU Adoption APIC Reclassification	(86)
Issuance of warrants	631
Change in fair value	60
Balance as of December 31, 2019	$	691

Schedule of VIEs

The Company's consolidated balance sheets include the following assets and liabilities from its VIE's (in thousands):


	December 31, 2019		December 31, 2018
Cash and cash equivalents	$	379	$	45
Accounts receivable	564		94
Prepaid and other current assets	26		29
Total assets	$	969	$	168

Accounts payable	$	9	$	7
Accrued liabilities	100		14
Deferred revenue	73		—
Intercompany payable	685		147
Total liabilities	$	867	$	168

Schedule of warranty liability assumptions

The assumptions used in the Black-Scholes option-pricing model are determined as follows:


	December 31, 2019		December 31, 2018
Volatility	98.04	%	102.90	%
Risk-free interest rate	1.81	%	2.63	%
Weighted average expected life (in years)	6.25		1.29
Dividend yield	0	%	0	%

The assumptions used in the Black-Scholes option-pricing model are determined as follows:


	December 31, 2019
Volatility	98.01	%
Risk-free interest rate	1.58	%
Expected life (in years)	7
Dividend yield	0	%

- Definition

Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide.

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