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RESTATEMENT (Tables)
9 Months Ended
Sep. 30, 2018
Accounting Changes and Error Corrections [Abstract]  
Summary of Restatements
Consolidated Balance Sheet as of September 30, 2018:
(In thousands)
As Originally Reported
 
Adjustments
 
As Restated
ASSETS
 
 
 
 
 
Current assets:
 
 
 
 
 
   Cash and cash equivalents
$
40,663

 
$
—

 
$
40,663

   Short term investments
55,480

 
—

 
55,480

   Trade accounts receivable, net
4,080

 
59

 
4,139

   Inventories, net
6,037

 
—

 
6,037

   Prepaid expenses and other current assets
627

 
—

 
627

     Total current assets
106,887

 
59

 
106,946

Property and equipment, net
5,842

 
—

 
5,842

Purchased technology and license rights, net
32

 
—

 
32

Goodwill
185

 
—

 
185

Deposits
46

 
—

 
46

Other assets
122

 
—

 
122

     Total assets
$
113,114

 
$
59

 
$
113,173

 
 
 
 
 
 
LIABILITIES AND STOCKHOLDERS’ EQUITY
 
 
 
 
 
Current liabilities:
 
 
 
 
 
   Accounts payable
$
2,348

 
$
—

 
$
2,348

   Accrued severance and related
95

 
—

 
95

   Accrued payroll
163

 
—

 
163

   Accrued expenses and other current liabilities
19,066

 
764

 
19,830

     Total current liabilities
21,672

 
764

 
22,436

Related party note payable
140

 
—

 
140

   Total liabilities
21,812

 
764

 
22,576

STOCKHOLDERS' EQUITY
 
 
 
 
 
Common stock, $0.001 par value; 75,000,000 shares authorized; 33,763,019 issued and 33,620,444 outstanding
33

 
—

 
33

Additional paid-in capital
51,798

 
—

 
51,798

Retained earnings
39,471

 
(705
)
 
38,766

   Total stockholders’ equity
91,302

 
(705
)
 
90,597

     Total liabilities and stockholders’ equity
$
113,114

 
$
59

 
$
113,173




Consolidated Statement of Operations for the three months ended September 30, 2018:
(In thousands)
As Originally Reported
 
Adjustments
 
As Restated
Sales
$
3,672

 
$
—

 
$
3,672

Cost of sales
1,151

 
—

 
1,151

Gross profit
2,521

 
—

 
2,521

Other costs and expenses:
 
 
 
 
 
Research and development
613

 
—

 
613

Professional services
628

 
—

 
628

Salaries and related costs
2,119

 
51

 
2,170

Selling, general and administrative
1,957

 
(59
)
 
1,898

Total other costs and expenses
5,317

 
(8
)
 
5,309

Loss from operations
(2,796
)
 
8

 
(2,788
)
Interest income (expense), net
105

 
—

 
105

Other losses
(155
)
 
(713
)
 
(868
)
Total other losses, net
(50
)
 
(713
)
 
(763
)
Loss from continuing operations before income taxes
(2,846
)
 
(705
)
 
(3,551
)
Income tax benefit
(2,408
)
 
—

 
(2,408
)
Net loss from continuing operations
(438
)
 
(705
)
 
(1,143
)
Income from discontinued operations, net of tax
540

 
—

 
540

Gain on sale of the Core Business, net of tax
69,072

 
—

 
69,072

Total income from discontinued operations, net of tax
69,612

 
—

 
69,612

Net income (loss)
$
69,174

 
$
(705
)
 
$
68,469

 
 
 
 
 
 
Loss per share from continuing operations
 
 
 
 
 
Basic and Diluted
$
(0.01
)
 
$
(0.02
)
 
$
(0.03
)
 
 
 
 
 
 
Income per share from discontinued operations
 
 
 
 
 
Basic
2.09

 
—

 
2.09

Diluted
1.99

 
—

 
1.99

 
 
 
 
 
 
Income (loss) per share from all operations
 
 
 
 
 
Basic
2.08

 
(0.02
)
 
2.06

Diluted
1.98

 
(0.02
)
 
1.96

 
 
 
 
 
 
Weighted average number of shares outstanding basic
33,275

 
33,275

 
33,275

Weighted average number of shares outstanding diluted
34,934

 
34,934

 
34,934




Consolidated Statement of Operations for the nine months ended September 30, 2018:
(In thousands)
As Originally Reported
 
Adjustments
 
As Restated
Sales
$
10,760

 
$
—

 
$
10,760

Cost of sales
3,490

 
—

 
3,490

Gross profit
7,270

 
—

 
7,270

Other costs and expenses:
 
 
 
 
 
Research and development
1,890

 
—

 
1,890

Professional services
1,815

 
—

 
1,815

Salaries and related costs
5,734

 
51

 
5,785

Selling, general and administrative
6,280

 
(59
)
 
6,221

Total other costs and expenses
15,719

 
(8
)
 
15,711

Loss from operations
(8,449
)
 
8

 
(8,441
)
Interest income (expense), net
33

 
—

 
33

Other losses
(155
)
 
(713
)
 
(868
)
Change in fair value of derivative liabilities
20

 
—

 
20

Total other losses, net
(102
)
 
(713
)
 
(815
)
Loss from continuing operations before income taxes
(8,551
)
 
(705
)
 
(9,256
)
Income tax benefit
(2,384
)
 
—

 
(2,384
)
Net loss from continuing operations
(6,167
)
 
(705
)
 
(6,872
)
Income from discontinued operations, net of tax
5,062

 
—

 
5,062

Gain on sale of the Core Business, net of tax
69,072

 
—

 
69,072

Total income from discontinued operations, net of tax
74,134

 
—

 
74,134

Net income (loss)
$
67,967

 
$
(705
)
 
$
67,262

 
 
 
 
 
 
Loss per share from continuing operations
 
 
 
 
 
Basic and Diluted
$
(0.19
)
 
$
(0.02
)
 
$
(0.21
)
 
 
 
 
 
 
Income per share from discontinued operations
 
 
 
 
 
Basic
2.25

 
—

 
2.25

Diluted
2.19

 
—

 
2.19

 
 
 
 
 
 
Income (loss) per share from all operations
 
 
 
 
 
Basic
2.06

 
(0.02
)
 
2.04

Diluted
2.00

 
(0.02
)
 
1.98

 
 
 
 
 
 
Weighted average number of shares outstanding basic
33,014

 
33,014

 
33,014

Weighted average number of shares outstanding diluted
33,952

 
33,952

 
33,952