Annual report pursuant to Section 13 and 15(d) 12-31-2018

Consolidated Statements of Operations

v3.19.1
Consolidated Statements of Operations - USD ($)
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Income Statement [Abstract]    
Product revenue $ 95,000
Costs of revenue 56,000
Gross profit 39,000
Operating expenses:    
Research and development 2,991,000 3,506,000
General and administrative 3,866,000 3,654,000
Sales and marketing 135,000 325,000
Goodwill impairment 6,163,000
Total operating expenses 13,155,000 7,485,000
Loss from operations (13,116,000) (7,485,000)
Other income (expenses):    
Interest expense (1,388,000) (1,263,000)
Offering costs (131,000)
Change in fair value of derivative liabilities 7,005,000 3,118,000
Loss on extinguishment of debt (339,000)
Loss on extinguishment of derivative liabilities (1,252,000)
Other income 83,000
Total other income (expense), net 3,427,000 1,724,000
Net loss before income taxes (9,689,000) (5,761,000)
Provision for income taxes
Loss from continuing operations (9,689,000) (5,761,000)
Loss from discontinued operations (324,000) (3,568,000)
Gain from disposal of discontinued operations 1,361,000
Net loss (8,652,000) (9,329,000)
Deemed dividend related to beneficial conversion feature and accretion of discount on convertible Series A preferred stock (13,900,000)
Net loss attributable to common stockholders $ (22,552) $ (9,329)
Net loss per share - basic and diluted    
Basic - continuing operations $ (0.88) $ (1.93)
Basic - discontinued operations (0.03) (1.20)
Basic - gain from sale of discontinued operations 0.12
Basic - deemed dividend and accretion of a discount on conversion of Series B preferred stock (1.27)
Basic - attributable to common stockholders (2.06) (3.13)
Diluted - continuing operations (1.44)
Diluted - discontinued operations (0.03)
Diluted - gain from sale of discontinued operations 0.12
Diluted - deemed dividend and accretion of a discount on conversion of Series B preferred stock (1.21)
Diluted - attributable to common stockholders $ (2.56)
Weighted average common shares outstanding:    
Basic 10,938,047 2,978,904
Diluted 11,515,638