Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2023
Dec. 31, 2022
CURRENT ASSETS    
Cash and cash equivalents $ 2,547 $ 2,021
Accounts receivable, net 5,524 375
Inventories, net 1,711 2,379
Prepaid expenses and other current assets 1,727 1,514
Total current assets 11,509 6,289
Property and equipment, net 59 75
Equity method investment   18,828
Right of use assets 2,337 2,799
Investment in convertible bond 20,978 19,971
Other assets 296 263
Total assets 35,179 48,225
CURRENT LIABILITIES    
Accounts payable and accrued expenses 17,725 13,549
Operating lease liabilities, current portion 865 703
Conversion feature derivative, notes payable 451 3,248
Other current liabilities 14,681 12,917
Warrant derivative liabilities 65 70
Convertible notes payable, net of discount 16,383 14,655
Total current liabilities 61,507 54,323
Operating lease liabilities, less current portion 1,839 2,553
Other long-term liabilities 17,363 21,714
Total liabilities 82,935 82,316
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, 61,845,963 and 49,583,501 shares issued and outstanding at December 31, 2023 and December 31, 2022, respectively 62 50
Additional paid-in capital 225,333 220,815
Net loan receivable from EJ Holdings (16,869)  
Accumulated other comprehensive loss (160) (2,619)
Accumulated deficit (256,122) (252,337)
Total stockholders' deficit (47,756) (34,091)
Total liabilities and stockholders' deficit 35,179 48,225
Nonrelated Party [Member]    
CURRENT LIABILITIES    
Notes payable, current portion, net of discount 8,215 6,814
Notes payable, less current portion, net of discount   380
Related Party [Member]    
CURRENT LIABILITIES    
Notes payable, current portion, net of discount 3,122 2,367
Notes payable, less current portion, net of discount $ 2,226 $ 3,346