Quarterly report pursuant to Section 13 or 15(d)

REVENUE RECOGNITION (Tables)

v3.10.0.1
REVENUE RECOGNITION (Tables)
9 Months Ended
Sep. 30, 2018
Revenue from Contract with Customer [Abstract]  
Schedule of New Accounting Pronouncements and Changes in Accounting Principles
The cumulative effect of the changes made to our condensed consolidated balance sheet as of January 1, 2018 for the adoption of the new standard was as follows:
BALANCE SHEET
Balance at December 31, 2017
Adjustments Due to ASC 606
Balance at 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

Retained Earnings
$
(67,812,000
)
$
64,000

$
(67,748,000
)

The following table summarizes the impact of the adoption on our Condensed Consolidated Balance Sheet and Condensed Consolidated Statement of Comprehensive Loss as of and for the periods ended September 30, 2018:
 
September 30, 2018
 
As Reported
Balances Without Adoption of ASC 606
Effect of Change Increase/(Decrease)
BALANCE SHEET
 
 
 
ASSETS
 
 
 
Prepaid expenses and other current assets
$
397,000

$
394,000

$
3,000

LIABILITIES AND STOCKHOLDERS' EQUITY
 
 
 
Deferred revenue, current
$
187,000

$
160,000

$
27,000

Accumulated deficit
$
(85,691,000
)
$
(85,667,000
)
$
(24,000
)



 
Three Months Ended September 30, 2018
 
As Reported
Activity Without Adoption of ASC 606
Effect of Change Increase/(Decrease)
STATEMENT OF COMPREHENSIVE LOSS
 
 
 
Revenue
$
115,000

$
155,000

$
(40,000
)
Net loss
$
(6,275,000
)
$
(6,235,000
)
$
40,000



 
Nine Months Ended September 30, 2018
 
As Reported
Activity Without Adoption of ASC 606
Effect of Change Increase/(Decrease)
STATEMENT OF COMPREHENSIVE LOSS
 
 
 
Revenue
$
396,000

$
484,000

$
(88,000
)
Net loss
$
(17,943,000
)
$
(17,855,000
)
$
88,000

Disaggregation of Revenue
Summary of changes in contract assets and liabilities for the period from January 1, 2018 to September 30, 2018:

Contract asset
 
Contract asset, 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
3,000

Contract asset, September 30, 2018
$
3,000

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

Recognition of revenue included in beginning of year contract liability
(92,000
)
Contract liability, net of revenue recognized on contracts during the period
132,000

Foreign currency translation
1,000

Contract liability, September 30, 2018
$
187,000

Revenue from External Customers by Geographic Areas
The following table presents our disaggregated revenue by region and source:

 
Three Months Ended September 30,
 
Nine Months Ended September 30,
 
2017
 
2018
 
2017
 
2018
Revenue by geographic region:
 
 
 
 
 
 
 
United States
$
89,000

 
$
96,000

 
$
415,000

 
$
338,000

Switzerland
17,000

 
19,000

 
67,000

 
58,000

Total revenue
$
106,000

 
$
115,000

 
$
482,000

 
$
396,000

 
 
 
 
 
 
 
 
Revenue by source:
 
 
 
 
 
 
 
Design services
$
99,000

 
$
85,000

 
$
465,000

 
$
276,000

Royalties
7,000

 
30,000

 
17,000

 
120,000

Total revenue
$
106,000

 
$
115,000

 
$
482,000

 
$
396,000