Annual report pursuant to Section 13 and 15(d)

QUARTERLY FINANCIAL STATEMENTS (UNAUDITED) (Details 1)

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QUARTERLY FINANCIAL STATEMENTS (UNAUDITED) (Details 1) - USD ($)
$ in Thousands
Dec. 31, 2019
Sep. 30, 2019
Dec. 31, 2018
Dec. 31, 2017
CURRENT ASSETS        
Cash and cash equivalents $ 1,769 $ 1,326 $ 3,905  
Accounts receivable, net 2,150 1,982 1,788  
Inventories, net 7,971 7,491 4,705  
Investment in marketable securities 27,929 27,643 49,343  
Marketable securities, pledged to creditor     238  
Prepaid expenses and other current assets 1,402 1,541 634  
Total current assets 41,221 39,983 60,613  
Property and equipment, net 151 163 152  
Equity method investment 13,325 13,407 13,569  
Right of use assets 4,474 4,118    
Other assets 285 427 406  
Total assets 59,456 58,098 75,278  
CURRENT LIABILITIES        
Accounts payable and accrued expenses 11,498 10,926 8,235  
Operating lease liabilities, current portion 991 844    
Other current liabilities 5,748 6,033 5,342  
Warrant derivative liabilities 38 91 8,939  
Notes payable, net of discount 3,749 3,886 6,212  
Notes payable to related parties 193 193 468  
Convertible debentures, net of discount 7,015 6,470    
Convertible notes payable, net of discount 2,995 2,928 11,253  
Total current liabilities 32,827 31,371 45,557  
Operating lease liabilities, less current portion 3,932 3,714    
Other long-term liabilities 33,750 34,556 36,222  
Convertible debentures, net of discount less current portion   706    
Total liabilities 70,509 70,347 96,986  
STOCKHOLDERS’ EQUITY (DEFICIT)        
Preferred stock — par value $0.001 per share, 15,000,000 shares authorized, no shares issued or outstanding  
Common stock — par value $0.001 per share, 250,000,000 shares authorized, 48,471,446 shares and 37,341,393 shares issued and outstanding at December 31, 2019 and at December 31, 2018, respectively 48 48 37  
Additional paid-in capital 215,207 212,619 149,682  
Accumulated other comprehensive income (loss) (79) (51) (69)  
Accumulated deficit (226,229) (224,865) (171,358)  
Total stockholders’ deficit (11,053) (12,249) (21,708) $ 18,288
Total liabilities and stockholders’ deficit $ 59,456 58,098 75,278  
Previously Reported [Member]        
CURRENT ASSETS        
Cash and cash equivalents   13,546 17,080  
Accounts receivable, net   1,900 1,351  
Inventories, net   7,491 4,705  
Investment in marketable securities   27,643 49,343  
Marketable securities, pledged to creditor     238  
Prepaid expenses and other current assets   1,194 743  
Total current assets   51,774 73,460  
Property and equipment, net   163 152  
Right of use assets   4,118    
Other assets   427 406  
Total assets   56,482 74,556  
CURRENT LIABILITIES        
Accounts payable and accrued expenses   10,706 9,122  
Operating lease liabilities, current portion   844    
Other current liabilities   5,676 5,181  
Notes payable, net of discount   3,886 6,394  
Notes payable to related parties   193 468  
Convertible debentures, net of discount   11,000    
Convertible notes payable, net of discount   2,928 11,253  
Total current liabilities   35,233 37,526  
Operating lease liabilities, less current portion   3,714    
Other long-term liabilities   34,585 36,222  
Convertible debentures, net of discount less current portion   1,200    
Total liabilities   74,732 90,450  
STOCKHOLDERS’ EQUITY (DEFICIT)        
Preferred stock — par value $0.001 per share, 15,000,000 shares authorized, no shares issued or outstanding    
Common stock — par value $0.001 per share, 250,000,000 shares authorized, 48,471,446 shares and 37,341,393 shares issued and outstanding at December 31, 2019 and at December 31, 2018, respectively   47 37  
Additional paid-in capital   199,395 140,903  
Accumulated other comprehensive income (loss)   (51) (69)  
Accumulated deficit   (216,916) (156,668)  
Total stockholders’ deficit   (17,525) (15,797)  
Noncontrolling interests   (725) (97)  
Total liabilities and stockholders’ deficit   56,482 74,556  
Adjustments [Member]        
CURRENT ASSETS        
Cash and cash equivalents   (12,220) [1] (13,175) [2]  
Accounts receivable, net   82 [3] 437 [4]  
Prepaid expenses and other current assets   347 [1],[3] (109) [2],[4]  
Total current assets   (11,791) (12,847)  
Equity method investment   13,407 [1] 13,569 [2]  
Total assets   1,616 722  
CURRENT LIABILITIES        
Accounts payable and accrued expenses   220 [1] (887) [2]  
Other current liabilities   357 [3],[5] 161 [4]  
Warrant derivative liabilities   91 [5] 8,939 [4],[6]  
Notes payable, net of discount [6]     (182)  
Convertible debentures, net of discount [5]   (4,530)    
Total current liabilities   (3,862) 8,031  
Other long-term liabilities [5]   (29)    
Convertible debentures, net of discount less current portion [5]   (494)    
Total liabilities   (4,385) 6,536  
STOCKHOLDERS’ EQUITY (DEFICIT)        
Preferred stock — par value $0.001 per share, 15,000,000 shares authorized, no shares issued or outstanding    
Common stock — par value $0.001 per share, 250,000,000 shares authorized, 48,471,446 shares and 37,341,393 shares issued and outstanding at December 31, 2019 and at December 31, 2018, respectively   1    
Additional paid-in capital   13,224 [1],[5] 8,779 [4],[6],[7]  
Accumulated deficit   (7,949) (14,690)  
Total stockholders’ deficit   5,276 (5,911)  
Noncontrolling interests   725 97 [2]  
Total liabilities and stockholders’ deficit   $ 1,616 $ 722  
[1] EJ Holdings adjustments: The correction of this misstatement resulted in increases of $13.4 million in equity method investment, $220,000 in accounts payable and accrued expenses, and $725,000 in non-controlling interest, as well as decreases of $12.2 million in cash and cash equivalents and $241,000 in prepaid expenses and other current assets.
[2] EJ Holdings adjustments: The correction of this misstatement resulted in increases of $13.6 million in equity method investment, $58,000 in accounts payable and accrued expenses, and $97,000 in non-controlling interest and decreases of $13.2 million in cash and cash equivalent and $240,000 in prepaid expenses and other current assets.
[3] Corrections to other misstatements were as follows: (i) period adjustment and reclassification of variable consideration resulted in increases of $82,000 in accounts receivable and $22,000 in current liabilities; (ii) correction of financing of insurance premium resulting in an increase of $598,000 in prepaid expenses and other current liabilities; (iii) correction relating of debt modification resulting in an increase of $1.1 million in additional paid-in capital; (iv) correction relating to GPB warrant classification resulting in an increase of $91,000 in warrant derivative liabilities and a decrease of $776,000 in additional paid-in capital.
[4] Corrections of other misstatement were as follows: (i) period adjustment and reclassification of variable consideration resulted in an increase of $436,000 in accounts receivable and a decrease of $946,000 in accounts payable and accrued expense. It also resulted a decrease of $10,000 in income tax receivable and an increase of $24,000 in income tax payable; (ii) correction of financing of insurance premium resulted in an increase of $141,000 in each of prepaid expenses and current liabilities; (iii) correction of stock modification accounting resulted in an increase of $52,000 in additional paid-in capital; and (iv) correction of accounting treatment for conversion feature of senior secured convertible promissory note resulted in an increase of $172,000 in additional paid-in capital.
[5] Senior secured debentures adjustments: The correction of this misstatement resulted in decreases of $4.5 million in short-term convertible notes payable and $0.5 million in long-term convertible notes payable. Also, it resulted in a decrease of $5.6 million in additional paid-in capital, $263,000 million in short-term conversion feature liabilities and $29,000 in long-term conversion feature liabilities.
[6] Warrant adjustments: The correction of this misstatement resulted in an increase of $7.5 million in warrant derivative liabilities and decreases of $182,000 in short-term notes payable, $96,000 in long-term notes payable and $9.7 million in additional paid-in capital.
[7] Cashless warrants adjustments: The correction of this misstatement resulted in an increase of $18.3 million in additional paid-in capital.