| Schedule of Restatement |
The impact of this change as of and
for the three and nine months periods ended September 30, 2016 is as follows (in thousands, except share and per share data):
| |
|
Three months ended September 30, 2016 |
|
| |
|
As Previously Reported |
|
|
Restatement #1 - Accretion of a Discount |
|
|
As Restated After Restatement #1 |
|
|
Restatement #2 - Warrant Liability |
|
|
As Restated After Restatement #1 and #2 |
|
| Total other expense, net |
|
$ |
(1,131 |
) |
|
$ |
- |
|
|
$ |
(1,131 |
) |
|
$ |
(849 |
) |
|
$ |
(1,980 |
) |
| Total net loss/comprehensive loss |
|
|
(4,338 |
) |
|
|
- |
|
|
|
(4,338 |
) |
|
|
(849 |
) |
|
|
(5,187 |
) |
| Deemed dividend related to beneficial conversion feature and accretion of a discount a Series A Preferred Stock |
|
|
(2,499 |
) |
|
|
(3,779 |
) |
|
|
(6,278 |
) |
|
|
- |
|
|
|
(6,278 |
) |
| Net loss attributable to common stockholders |
|
$ |
(6,837 |
) |
|
$ |
(3,779 |
) |
|
$ |
(10,616 |
) |
|
$ |
(849 |
) |
|
$ |
(11,465 |
) |
| Net loss per share attributable to common stockholders: Basic and diluted |
|
$ |
(3.56 |
) |
|
$ |
(1.97 |
) |
|
$ |
(5.53 |
) |
|
$ |
(0.44 |
) |
|
$ |
(5.97 |
) |
| Weighted average common shares outstanding: Basic and diluted |
|
|
1,920,745 |
|
|
|
- |
|
|
|
1,920,745 |
|
|
|
- |
|
|
|
1,920,745 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Common stock, $0.01 par value |
|
$ |
22 |
|
|
$ |
- |
|
|
$ |
22 |
|
|
|
|
|
|
$ |
22 |
|
| Additional paid-in capital |
|
|
226,630 |
|
|
|
- |
|
|
|
226,630 |
|
|
|
(4,973 |
) |
|
|
221,657 |
|
| Accumulated deficit |
|
|
(209,327 |
) |
|
|
- |
|
|
|
(209,327 |
) |
|
|
(849 |
) |
|
|
(210,176 |
) |
| Total stockholders' equity |
|
$ |
17,325 |
|
|
$ |
- |
|
|
$ |
17,325 |
|
|
$ |
(5,822 |
) |
|
$ |
11,503 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Derivative liabilities, current portion |
|
$ |
- |
|
|
$ |
- |
|
|
$ |
- |
|
|
$ |
5,822 |
|
|
$ |
5,822 |
|
| |
|
Nine months ended September 30, 2016 |
|
| |
|
As Previously Reported |
|
|
Restatement #1 - Accretion of a Discount |
|
|
As Restated After Restatement #1 |
|
|
Restatement #2 - Warrant Liability |
|
|
As Restated After Restatement #1 and #2 |
|
| Total other expense, net |
|
$ |
(4,598 |
) |
|
|
|
|
|
$ |
(4,598 |
) |
|
$ |
(849 |
) |
|
$ |
(5,447 |
) |
| Total net loss/comprehensive loss |
|
|
(12,790 |
) |
|
|
|
|
|
|
(12,790 |
) |
|
|
(849 |
) |
|
|
(13,639 |
) |
| Deemed dividend related to beneficial conversion feature and accretion of a discount a Series A Preferred Stock |
|
|
(2,499 |
) |
|
|
(3,779 |
) |
|
|
(6,278 |
) |
|
|
- |
|
|
|
(6,278 |
) |
| Net loss attributable to common stockholders |
|
$ |
(15,289 |
) |
|
$ |
(3,779 |
) |
|
$ |
(19,068 |
) |
|
$ |
(849 |
) |
|
$ |
(19,917 |
) |
| Net loss per share attributable to common stockholders: Basic and diluted |
|
$ |
(11.68 |
) |
|
$ |
(2.88 |
) |
|
$ |
(14.56 |
) |
|
$ |
(0.65 |
) |
|
$ |
(15.21 |
) |
| Weighted average common shares outstanding: Basic and diluted |
|
|
1,309,286 |
|
|
|
|
|
|
|
1,309,286 |
|
|
|
|
|
|
|
1,309,286 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Common stock, $0.01 par value |
|
$ |
22 |
|
|
$ |
- |
|
|
$ |
22 |
|
|
|
|
|
|
$ |
22 |
|
| Additional paid-in capital |
|
|
226,630 |
|
|
|
- |
|
|
|
226,630 |
|
|
|
(4,973 |
) |
|
|
221,657 |
|
| Accumulated deficit |
|
|
(209,327 |
) |
|
|
- |
|
|
|
(209,327 |
) |
|
|
(849 |
) |
|
|
(210,176 |
) |
| Total stockholders' equity |
|
$ |
17,325 |
|
|
$ |
- |
|
|
$ |
17,325 |
|
|
$ |
(5,822 |
) |
|
$ |
11,503 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Derivative liabilities, current portion |
|
$ |
- |
|
|
$ |
- |
|
|
$ |
- |
|
|
$ |
5,822 |
|
|
$ |
5,822 |
|
The impact of this change as of and
for the year ended December 31, 2016 is as follows (in thousands, except share and per share data):
| |
|
Year ended December 31, 2016 |
|
| |
|
As Previously Reported |
|
|
Restatement #2 - Warrant Liability |
|
|
As Restated After Restatement #1 and #2 |
|
| Total other expense, net |
|
$ |
(5,063 |
) |
|
$ |
1,835 |
|
|
$ |
(3,228 |
) |
| Total net loss/comprehensive loss |
|
|
(16,598 |
) |
|
|
1,835 |
|
|
|
(14,763 |
) |
| Deemed dividend related to beneficial conversion feature and accretion of a discount a Series A Preferred Stock |
|
|
(6,278 |
) |
|
|
- |
|
|
|
(6,278 |
) |
| Net loss attributable to common stockholders |
|
$ |
(22,876 |
) |
|
$ |
1,835 |
|
|
$ |
(21,041 |
) |
| Net loss per share attributable to common stockholders: Basic and diluted |
|
$ |
(14.82 |
) |
|
$ |
1.19 |
|
|
$ |
(13.63 |
) |
| Weighted average common shares outstanding: Basic and diluted |
|
|
1,543,735 |
|
|
|
- |
|
|
|
1,543,735 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Common stock, $0.01 par value |
|
$ |
22 |
|
|
|
|
|
|
$ |
22 |
|
| Additional paid-in capital |
|
|
227,486 |
|
|
|
(4,973 |
) |
|
|
222,513 |
|
| Accumulated deficit |
|
|
(213,135 |
) |
|
|
1,835 |
|
|
|
(211,300 |
) |
| Total stockholders' equity |
|
$ |
14,373 |
|
|
$ |
(3,138 |
) |
|
$ |
11,235 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Derivative liabilities, current portion |
|
$ |
- |
|
|
$ |
3,137 |
|
|
$ |
3,137 |
|
|