Annual report pursuant to Section 13 and 15(d)

REVENUE RECOGNITION (Tables)

v3.19.1
REVENUE RECOGNITION (Tables)
12 Months Ended
Dec. 31, 2018
Revenue from Contract with Customer [Abstract]  
Schedule of New Accounting Pronouncements and Changes in Accounting Principles
The following table summarizes the impact of the adoption on our Consolidated Balance Sheet and Consolidated Statement of Comprehensive Loss as of and for the year ended December 31, 2018:
BALANCE SHEET
As of December 31, 2018
As Reported
Balances Without Adoption of ASC 606
Effect of Change Increase/(Decrease)
ASSETS
 
 
 
Prepaid expenses and other current assets
$
364,000

$
364,000

$

LIABILITIES AND STOCKHOLDERS' EQUITY
 
 
 
Deferred revenue, current
$
271,000

$
264,000

$
7,000

Accumulated deficit
$
(92,564,000
)
$
(92,557,000
)
$
(7,000
)

STATEMENT OF COMPREHENSIVE LOSS
Year Ended December 31, 2018
As Reported
Activity Without Adoption of ASC 606
Effect of Change Increase/(Decrease)
Revenue
$
524,000

$
595,000

$
(71,000
)
Net loss
$
(24,816,000
)
$
(24,745,000
)
$
71,000


The cumulative effect of the changes made to our consolidated balance sheet as of January 1, 2018 for the adoption of the new standard was as follows:
BALANCE SHEET
Balance as of December 31, 2017
Adjustments Due to ASC 606
Balance as of January 1, 2018
ASSETS
 
 
 
Prepaid expenses and other current assets
$
536,000

$
67,000

$
603,000

LIABILITIES AND STOCKHOLDERS' EQUITY
 
 
 
Deferred revenue, current
$
143,000

$
3,000

$
146,000

Accumulated deficit
$
(67,812,000
)
$
64,000

$
(67,748,000
)
Contract with Customer, Asset and Liability
Summary of changes in contract assets and liabilities for the period from January 1, 2018 to December 31, 2018:

Contract assets
 
Contract assets, January 1, 2018
$
67,000

Contract assets at beginning of year transferred to accounts receivable
(43,000
)
Reversal of contract assets due to changes in transaction price
(24,000
)
Contract assets recorded on contracts during the period
36,000

Contract assets, December 31, 2018
$
36,000

 
 
Contract liabilities
 
Contract liabilities, January 1, 2018
$
146,000

Recognition of revenue included in beginning of year contract liabilities
(138,000
)
Contract liabilities, net of revenue recognized on contracts during the period
263,000

Contract liabilities, December 31, 2018
$
271,000

Disaggregation of Revenue
The following table presents our disaggregated revenue by geographic region and source:

 
 
Year Ended December 31,
 
 
2017
 
2018
Revenue by geographic region:
 
 
 
 
United States
 
$
574,000

 
$
447,000

Switzerland
 
79,000

 
77,000

Total revenue
 
$
653,000

 
$
524,000

 
 
 
 
 
Revenue by source:
 
 
 
 
Design services
 
$
613,000

 
$
365,000

Royalties
 
40,000

 
159,000

Total revenue
 
$
653,000

 
$
524,000