Financials

v3.4.0.3
Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Mar. 31, 2016
Dec. 31, 2015
Current assets:    
Cash and cash equivalents $ 100 $ 176
Related party convertible notes receivable at fair value 500
Prepaid expenses and other current assets 342 $ 567
Total current assets 942 743
Non-current assets:    
Property and equipment, net 95 115
Intangible assets 2,861 2,861
Goodwill 7,967 7,967
Total non-current assets 10,923 10,943
TOTAL ASSETS 11,865 11,686
Current liabilities:    
Accounts payable and accrued liabilities 7,620 7,723
Related party liabilities and accrued interest 258 257
Accrued interest 322 195
Notes payable (net of deferred financing cost of $0 and $3 as of March 31, 2016 and December 31, 2015, respectively) 600 997
Senior secured convertible notes payable (net of debt discount of $2,963 and $3,854, and deferred financing cost of $0 and $82 as of March 31, 2016 and December 31, 2015, respectively) 2,389 1,316
Derivative liability 4,165 5,098
Share-settled debt 476 521
Total current liabilities 15,830 16,107
Deferred tax liability 1,113 1,113
Total liabilities $ 16,943 $ 17,220
Temporary equity carrying amount
COMMITMENTS AND CONTINGENCIES
STOCKHOLDERS' EQUITY (DEFICIT):    
Convertible preferred stock
Common stock, $0.001 par value, 150,000,000 authorized; 57,640,958 and 21,177,353 shares issued and outstanding at March 31, 2016 and December 31, 2015, respectively $ 58 $ 21
Additional paid-in capital 78,985 74,767
Accumulated deficit (104,873) (92,241)
Total stockholders' equity (deficit) (25,829) (8,688)
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) AND TEMPORARY EQUITY $ 11,865 $ 11,686
Series A Preferred Stock    
STOCKHOLDERS' EQUITY (DEFICIT):    
Convertible preferred stock
Series B Preferred Stock    
STOCKHOLDERS' EQUITY (DEFICIT):    
Convertible preferred stock
Series C Preferred Stock    
STOCKHOLDERS' EQUITY (DEFICIT):    
Convertible preferred stock $ 1 $ 1
Series E Preferred Stock    
Current liabilities:    
Temporary equity carrying amount $ 10,774
STOCKHOLDERS' EQUITY (DEFICIT):    
Convertible preferred stock $ 8,764
Series H Preferred Stock    
Current liabilities:    
Temporary equity carrying amount $ 9,977 $ 3,154

Source

v3.4.0.3
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
Income Statement [Abstract]    
Net revenues:
Operating expenses:    
Research and development $ 1,357 $ 2,477
General and administrative 1,295 4,061
Total operating costs and expenses 2,652 6,538
Loss from operations (2,652) (6,538)
Other income (expense):    
Interest Expense (1,278) $ (42)
Change in fair value of warrants & derivatives liabilities 2,459
Change in fair value of share-settled debt 20
Loss on extinguishment of convertible debt (74)
Other expense (51)
Total other income (expense) 1,076 $ (42)
Net loss (1,576) (6,580)
Dividends declared on convertible preferred stock (749) $ (828)
Deemed dividends on convertible preferred stock (10,307)
Net loss applicable to common stockholders $ (12,632) $ (7,408)
Net loss per share applicable to common stockholders - basic and diluted $ (0.37) $ (1.02)
Weighted average shares used in computing basic and diluted loss per share 33,720,000 7,232,000

Source

v3.4.0.3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
Cash flows from operating activities    
Net loss $ (1,576) $ (6,580)
Adjustments to reconcile net loss to net cash used in operating activities    
Depreciation and amortization 20 $ 19
Amortization of debt discount 961
Amortization of deferred financing fees $ 85
Amortization of intangible assets $ 32
Non-cash financing expense $ 14
Loss on extinguishment of convertible debt $ 74
Change in fair value of warrants and derivative liability (2,459)
Change in fair value of share-settled debt (20)
Common stock issued for services 218 $ 106
Stock-based compensation expense 161 488
Changes in assets and liabilities:    
Prepaid expenses and other current assets 225 (62)
Accounts payable and accrued expenses (304) $ (1,851)
Related party liabilities and accrued interest 1
Accrued interest 127 $ 29
Net cash used in operating activities $ (2,487) (7,805)
Cash flows from investing activities    
Acquisition of DioGenix, Inc, net of non-cash portion $ (900)
Investment in convertible note receivable $ (500)
Acquisition other assets $ (1)
Net cash used in investing activities $ (500) (901)
Cash flows from financing activities    
Proceeds from senior secured convertible promissory notes 2,850
Repayment of notes payable $ (100) 0
Legal fees related to stock financing $ (91) (19)
Proceeds from issuance of common stock 2,820
Net cash provided by financing activities $ 2,911 8,601
Net increase in cash and cash equivalents (76) (105)
Cash and cash equivalents, beginning of the year 176 214
Cash and cash equivalents, end of period 100 $ 109
Supplemental schedule of non-cash investing and financing activities:    
Reclass Series E convertible preferred stock to temporary equity 8,764
Beneficial conversion feature of Series H convertible preferred stock 610
Deemed dividends related to immediate accretion of beneficial conversion feature of Series H convertible preferred stock 610
Fair Value of derivative liability common stock warrant issued with Series H convertible preferred stock 1,456
Series H preferred stock issued for note conversion 100
Debt discount associated with convertible promissory note - derivative liability 105
Reversal of unamortized debt discount related to debt conversion (35)
Common stock issued for accrued interest conversion 75
Common stock issued for share-settled debt and convertible promissory notes conversion 125
Reclass between notes payable and senior convertible notes $ 300
Common stock issued as fee for debt financing arrangement $ 102
Series E Convertible Preferred Stock [Member]    
Cash flows from financing activities    
Sale of preferred stock $ 230 $ 2,950
Repurchase of preferred stock (384)
Supplemental schedule of non-cash investing and financing activities:    
Common stock issued in conversion of preferred stock 1,205 $ 172
Deemed dividends on conversion of preferred stock to common stock 130
Deemed dividends on repurchase of preferred stock 27
Deemed dividends related to accretion of preferred stock redemption value 3,137
Series H Convertible Preferred Stock [Member]    
Cash flows from financing activities    
Sale of preferred stock 3,890
Repurchase of preferred stock (634)
Supplemental schedule of non-cash investing and financing activities:    
Common stock issued in conversion of preferred stock 1,354
Deemed dividends on conversion of preferred stock to common stock 923
Deemed dividends on repurchase of preferred stock 48
Deemed dividends related to accretion of preferred stock redemption value $ 5,095
Series D preferred stock dividend [Member]    
Supplemental schedule of non-cash investing and financing activities:    
Common stock issued in conversion of preferred stock $ 9
Stock issued for preferred quarterly dividend 35
Series preferred stock dividend accrued 15
Series E preferred stock dividend [Member]    
Supplemental schedule of non-cash investing and financing activities:    
Stock issued for preferred quarterly dividend $ 325 237
Series preferred stock dividend accrued 601 $ 192
Series H preferred stock dividend [Member]    
Supplemental schedule of non-cash investing and financing activities:    
Stock issued for preferred quarterly dividend 148
Series preferred stock dividend accrued $ 148

Source