XML 16 R6.htm IDEA: XBRL DOCUMENT v3.10.0.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Cash flows from operating activities    
Net loss $ (9,351) $ (7,668)
Adjustments to reconcile net loss to net cash used by operating activities:    
Depreciation and amortization 34 54
Amortization of debt issuance costs and beneficial conversion feature 168 152
Reduction in accrued expense from the expiration of statute of limitations 0 (75)
Stock-based compensation 1,014 823
Warrants issued in lieu of cash as compensation for services 9 0
Change in fair value of derivative liabilities 186 0
Provision for losses on accounts receivable 0 15
Gain from sale of trademark 0 (50)
Change in assets and liabilities    
Accounts receivable (46) 55
Inventory 64 (77)
Other assets (343) (71)
Accounts payable 99 (26)
Deferred revenue 473 348
Accrued expense 502 291
Pension obligation 27 89
Total adjustments 2,187 1,528
Net cash used in operating activities (7,164) (6,140)
Cash flows from investing activities    
Purchase of property and equipment (27) (1)
Proceeds received from sale of trademark 0 50
Net cash provided by (used in) in investing activities (27) 49
Cash flows from financing activities    
Proceeds from exercised stock options 149 227
Proceeds from issuance of Series A preferred stock, net of issuance costs 0 10,937
Proceeds from issuance of Series C preferred stock, net of issuance costs 8,789 0
Proceeds from lines of credit, net 0 3,350
Dividends paid 25 25
Net cash provided by financing activities 8,913 14,489
Effect of exchange rate changes on cash 19 (118)
Net increase (decrease) in cash 1,741 8,280
Cash at beginning of period 7,317 1,586
Cash at end of period 9,058 9,866
Supplemental disclosure of cash flow information:    
Cash paid for interest 0 0
Cash paid for income taxes 0 0
Summary of non-cash investing and financing activities:    
Beneficial conversion feature of convertible related party lines of credit 30 292
Stock dividends on Series A Convertible Preferred Stock 2,346 1,575
Stock dividends on Series C convertible redeemable preferred stock 53 0
Preferred Stock Exchange 0 1,245
Exchange of related-party indebtedness for Series A Preferred Stock 6,802 0
Conversion of Convertible Preferred Stock into Common Stock 4 0
Accretion of discount on Series C Preferred Stock 11 0
Recognition of derivative liabilities on preferred stock issuance $ 833 $ 0