Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2021
Dec. 31, 2020
CURRENT ASSETS    
Cash and cash equivalents $ 2,279 $ 2,487
Accounts receivable, net 1,040 198
Inventories, net 4,392 7,087
Prepaid expenses and other current assets 1,380 1,485
Total current assets 9,091 11,257
Property and equipment, net 147 120
Equity method investment 17,616 15,925
Right of use assets 3,485 4,072
Investment in convertible bond 26,100 27,866
Other assets 295 296
Total assets 56,734 59,536
CURRENT LIABILITIES    
Accounts payable and accrued expenses 9,189 7,460
Operating lease liabilities, current portion 740 1,143
Conversion feature derivative, notes payable 7,507 7
Other current liabilities 4,404 2,699
Revolving line of credit from related party 400 800
Warrant derivative liabilities 1,503 1,071
Notes payable, current portion 2,399 4,588
Notes payable to related parties 800 134
Convertible debentures, net of discount   5,480
Convertible notes payable, net of discount 10,158  
Total current liabilities 37,100 23,382
Operating lease liabilities, less current portion 3,261 3,470
Other long-term liabilities 33,173 34,470
Notes payable, less current portion 1,500 222
Convertible notes payable, net of discount 3,150 3,150
Total liabilities 78,184 64,694
STOCKHOLDERS’ DEFICIT    
Preferred stock — par value $0.001 per share, 15,000,000 shares authorized, none issued and outstanding
Common stock — par value $0.001 per share, 250,000,000 shares authorized, shares 49,311,864 and 48,987,189 shares issued and outstanding at December 31, 2021 and December 31, 2020, respectively 49 49
Additional paid-in capital 220,022 218,728
Accumulated other comprehensive income (loss) (255) 1,144
Accumulated deficit (241,266) (225,079)
Total stockholders’ deficit (21,450) (5,158)
Total liabilities & stockholders’ deficit $ 56,734 $ 59,536