CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands |
6 Months Ended |
Jun. 30, 2016 |
Jun. 30, 2015 |
| Cash flows from operating activities |
|
|
| Net loss |
$ (3,121)
|
$ (4,277)
|
| Adjustments to reconcile net loss to net cash used in operating activities: |
|
|
| Stock-based compensation |
179
|
54
|
| Amortization of deferred debt issuance costs and debt discount |
691
|
463
|
| Amortization of trademark |
65
|
0
|
| Debt conversion expense |
0
|
898
|
| Accrued interest on debt converted to equity |
0
|
12
|
| Provision for doubtful accounts |
119
|
107
|
| Changes in operating assets and liabilities: |
|
|
| Accounts receivable |
(513)
|
2,998
|
| Inventories |
(396)
|
(1,202)
|
| Prepaid expenses and other |
87
|
(180)
|
| Other assets |
0
|
8
|
| Accounts payable |
445
|
1,453
|
| Accrued expenses |
317
|
(466)
|
| Customer deposits |
(25)
|
0
|
| Due to related party |
0
|
(28)
|
| Net cash used in operating activities |
(2,152)
|
(160)
|
| Cash flows from financing activities |
|
|
| Proceeds from issuance of preferred stock, net |
2,393
|
0
|
| Private placement offering |
0
|
3,116
|
| Private placement issuance costs |
0
|
(479)
|
| Short-term loan - related party, net |
24
|
(151)
|
| Prepaid IPO costs |
(613)
|
0
|
| Proceeds from issuance of bridge financing |
406
|
0
|
| Proceeds from issuance of convertible debt and warrants |
0
|
1,645
|
| Proceeds from credit facility |
581
|
4,330
|
| Payments on credit facility |
(474)
|
(7,868)
|
| Payments on trademark note payable |
(75)
|
|
| Deferred financing costs |
(57)
|
(424)
|
| Net cash provided by financing activities |
2,185
|
169
|
| Net increase in cash |
33
|
9
|
| Cash, beginning of the period |
119
|
97
|
| Cash, end of the period |
152
|
106
|
| Cash paid during the period for: |
|
|
| Interest |
29
|
142
|
| Non-cash investing and financing activities: |
|
|
| Deferred IPO costs |
356
|
91
|
| Exchange of debt for equity |
$ 0
|
$ 2,272
|