Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)

v3.22.2.2
CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
Sep. 30, 2022
Dec. 31, 2021
CURRENT ASSETS    
Cash and cash equivalents $ 1,179,000 $ 2,279,000
Accounts receivable, net 1,491,000 1,040,000
Inventories, net 2,739,000 4,392,000
Prepaid expenses and other current assets 973,000 1,380,000
Total current assets 6,382,000 9,091,000
Property and equipment, net 79,000 147,000
Equity method investment 16,594,000 17,616,000
Right of use assets 2,944,000 3,485,000
Investment in convertible bond 15,943,000 26,100,000
Other assets 259,000 295,000
Total assets 42,201,000 56,734,000
CURRENT LIABILITIES    
Accounts payable and accrued expenses 11,134,000 9,189,000
Operating lease liabilities, current portion 653,000 740,000
Conversion feature derivative, notes payable 4,272,000 7,507,000
Other current liabilities 2,270,000 4,404,000
Revolving line of credit from related party 400,000 400,000
Warrant derivative liabilities 33,000 1,503,000
Notes payable, current portion, net of discount 5,635,000 2,399,000
Notes payable to related parties 2,780,000 800,000
Convertible notes payable, net of discount 14,346,000 10,158,000
Total current liabilities 41,523,000 37,100,000
Operating lease liabilities, less current portion 2,764,000 3,261,000
Other long-term liabilities 32,122,000 33,173,000
Notes payable, less current portion   1,500,000
Notes payable to related parties, net 3,381,000  
Convertible notes payable   3,150,000
Total liabilities 79,790,000 78,184,000
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, 49,558,501 and 49,311,864 shares issued and outstanding at September 30, 2022 and December 31, 2021, respectively 50,000 49,000
Additional paid-in capital 220,803,000 220,022,000
Accumulated other comprehensive loss (5,905,000) (255,000)
Accumulated deficit (252,537,000) (241,266,000)
Total stockholders’ deficit (37,589,000) (21,450,000)
Total liabilities & stockholders’ deficit $ 42,201,000 $ 56,734,000