Quarterly report [Sections 13 or 15(d)]

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)

v3.26.1
CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
CURRENT ASSETS    
Cash and cash equivalents $ 1,072 $ 2,127
Accounts receivable, net 2,048 2,804
Inventories, net 1,909 1,555
Prepaid expenses and other current assets 966 1,260
Total current assets 5,995 7,746
Property and equipment, net 98 113
Right of use assets 736 766
Investment in convertible bond 11,664 12,604
Other assets 203 207
Total assets 18,696 21,436
CURRENT LIABILITIES    
Accounts payable and accrued expenses 24,487 22,615
Operating lease liabilities, current portion 349 348
Conversion feature derivative, notes payable 235 0
Other current liabilities 17,443 17,565
Warrant derivative liabilities 15 13
Convertible notes payable, net of discount 17,356 17,380
Total current liabilities 70,537 69,072
Operating lease liabilities, less current portion 1,324 1,409
Other long-term liabilities 12,418 12,292
Total liabilities 86,556 85,044
Commitments and contingent liabilities (Note 11)
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, 70,188,263 shares issued and outstanding at March 31, 2026 2026 and December 31, 2025, respectively 70 70
Additional paid-in capital 225,988 225,987
Net loan receivable from EJ Holdings (16,869) (16,869)
Accumulated other comprehensive loss (3,647) (2,729)
Accumulated deficit (273,402) (270,067)
Total stockholders’ deficit (67,860) (63,608)
Total liabilities and stockholders' deficit 18,696 21,436
Nonrelated Party [Member]    
CURRENT LIABILITIES    
Notes payable to related parties 7,529 8,019
Related Party [Member]    
CURRENT LIABILITIES    
Notes payable to related parties 3,123 3,132
Notes payable to related parties, net of discount $ 2,277 $ 2,271