Annual report pursuant to Section 13 and 15(d)

Restatement To Previously Issued Condensed Consolidated Financial Statements (Tables)

v3.8.0.1
Restatement To Previously Issued Condensed Consolidated Financial Statements (Tables)
12 Months Ended
Dec. 31, 2016
Notes to Financial Statements  
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