Consolidated Statements of Cash Flows - USD ($)
|
12 Months Ended |
Dec. 31, 2015 |
Dec. 31, 2014 |
| Operating activities |
|
|
| Net loss |
$ (3,088,000)
|
$ (7,371,000)
|
| Adjustments to reconcile net loss to net cash used in operating activities: |
|
|
| Depreciation of property and equipment |
1,000
|
6,000
|
| Amortization of other assets |
211,000
|
210,000
|
| Non-cash stock-based compensation, including stock options and restricted stock |
489,000
|
$ 530,000
|
| Non-employee stock-based compensation |
68,000
|
|
| Change in fair value of warrant liability |
(2,099,000)
|
$ 4,277,000
|
| Warrant modification expense |
$ 1,761,000
|
|
| Inventory reserve |
|
$ 59,000
|
| Allowance for doubtful accounts |
$ 15,000
|
|
| Amortization of debt discount |
|
320,000
|
| Gain on foreign currency transactions |
$ (7,000)
|
(48,000)
|
| (Increase) decrease in operating assets: |
|
|
| Accounts receivable |
(302,000)
|
12,000
|
| Inventory |
(405,000)
|
(82,000)
|
| Prepaid expenses and other current assets |
(144,000)
|
21,000
|
| Increase (decrease) in operating liabilities: |
|
|
| Accounts payable |
(176,000)
|
(190,000)
|
| Accrued expenses |
(69,000)
|
(23,000)
|
| Deferred revenue |
(70,000)
|
(216,000)
|
| Net cash used in operating activities |
(3,815,000)
|
$ (2,495,000)
|
| Investing activities |
|
|
| Purchases of property and equipment |
(13,000)
|
|
| Net cash used in investing activities |
(13,000)
|
|
| Financing activities |
|
|
| Proceeds from issuance of common stock |
$ 1,340,000
|
$ 4,866,000
|
| Proceeds from issuance of senior secured notes |
|
1,572,000
|
| Proceeds from exercise of warrants |
$ 2,451,000
|
15,000
|
| Payment of senior secured notes |
|
(3,250,000)
|
| Net cash provided by financing activities |
$ 3,791,000
|
3,203,000
|
| Effect of exchange rates on cash |
1,000
|
(3,000)
|
| Net increase (decrease) in cash |
(36,000)
|
705,000
|
| Cash, beginning of year |
1,284,000
|
579,000
|
| Cash, end of year |
1,248,000
|
1,284,000
|
| Supplemental disclosure of cash flow information |
|
|
| Cash paid for interest expense |
43,000
|
188,000
|
| Cash paid for income taxes |
5,000
|
$ 6,000
|
| Supplemental disclosure of noncash financing activities |
|
|
| Deemed dividend as a result of warrant modification |
(73,000)
|
|
| Issuance of common stock as commitment fee |
163,000
|
|
| Extinguishment of warrant liability |
5,287,000
|
|
| Restricted stock issued to settle liability |
$ 36,000
|
|