Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2022
Dec. 31, 2021
CURRENT ASSETS    
Cash and cash equivalents $ 2,021 $ 2,279
Accounts receivable, net 375 1,040
Inventories, net 2,379 4,392
Prepaid expenses and other current assets 1,514 1,380
Total current assets 6,289 9,091
Property and equipment, net 75 147
Equity method investment 18,828 17,616
Right of use assets 2,799 3,485
Investment in convertible bond 19,971 26,100
Other assets 263 295
Total assets 48,225 56,734
CURRENT LIABILITIES    
Accounts payable and accrued expenses 13,549 9,189
Operating lease liabilities, current portion 703 740
Conversion feature derivative, notes payable 3,248 7,507
Other current liabilities 12,917 4,404
Revolving line of credit from related party   400
Warrant derivative liabilities 70 1,503
Notes payable, current portion, net of discount 6,814 2,399
Notes payable to related parties 2,367 800
Convertible notes payable, net of discount 14,655 10,158
Total current liabilities 54,323 37,100
Operating lease liabilities, less current portion 2,553 3,261
Other long-term liabilities 21,714 33,173
Notes payable, less current portion 380 1,500
Notes payable to related parties, net 3,346  
Convertible notes payable   3,150
Total liabilities 82,316 78,184
STOCKHOLDERS’ DEFICIT    
Preferred stock, par value $0.001 per share, 15,000,000 shares authorized, none issued or outstanding
Common stock, par value $0.001 per share, 250,000,000 shares authorized, 49,583,501 and 49,311,864 shares issued and outstanding at December 31, 2022 and December 31, 2021, respectively 50 49
Additional paid-in capital 220,815 220,022
Accumulated other comprehensive loss (2,619) (255)
Accumulated deficit (252,337) (241,266)
Total stockholders' deficit (34,091) (21,450)
Total liabilities & stockholders' deficit $ 48,225 $ 56,734