Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v3.19.1
Consolidated Balance Sheets - USD ($)
Dec. 31, 2018
Dec. 31, 2017
CURRENT ASSETS    
Cash and cash equivalents $ 4,394,000 $ 19,524,000
Investments held-to-maturity 16,863,000 0
Accounts receivable 165,000 50,000
Prepaid expenses and other current assets 364,000 536,000
Restricted cash 0 100,000
TOTAL CURRENT ASSETS 21,786,000 20,210,000
PROPERTY AND EQUIPMENT    
Property and equipment 3,784,000 3,212,000
Less: Accumulated depreciation and amortization (1,797,000) (1,858,000)
PROPERTY AND EQUIPMENT, NET 1,987,000 1,354,000
NONCURRENT ASSETS    
Intangible assets, net 1,374,000 1,353,000
Restricted cash 211,000 0
Goodwill 817,000 824,000
Other assets 69,000 19,000
TOTAL NONCURRENT ASSETS 2,471,000 2,196,000
TOTAL ASSETS 26,244,000 23,760,000
CURRENT LIABILITIES    
Accounts payable 695,000 708,000
Accrued expenses 464,000 314,000
Accrued salaries and payroll related expenses 1,835,000 1,936,000
Deferred revenue 271,000 143,000
TOTAL CURRENT LIABILITIES 3,265,000 3,101,000
LONG-TERM LIABILITIES    
Deferred rent 81,000 10,000
Deferred income taxes 0 1,000
TOTAL LIABILITIES 3,346,000 3,112,000
Commitments and contingencies (Note 10)
STOCKHOLDERS’ EQUITY    
Common stock, $0.001 par value, 47,000,000 authorized and 19,511,276 outstanding as of December 31, 2017 and 27,391,290 outstanding as of December 31, 2018 27,000 20,000
Preferred stock, $0.001 par value, 3,000,000 shares authorized and none outstanding as of December 31, 2017 and December 31, 2018 0 0
Additional paid-in capital 115,450,000 88,447,000
Accumulated other comprehensive loss (15,000) (7,000)
Accumulated deficit (92,564,000) (67,812,000)
TOTAL STOCKHOLDERS’ EQUITY 22,898,000 20,648,000
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 26,244,000 $ 23,760,000