Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)

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CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
$ in Thousands
Jun. 30, 2024
Dec. 31, 2023
CURRENT ASSETS    
Cash and cash equivalents $ 1,525 $ 2,547
Accounts receivable, net 4,598 5,524
Inventories, net 1,628 1,711
Prepaid expenses and other current assets 1,261 1,727
Total current assets 9,012 11,509
Property and equipment, net 54 59
Right of use assets 1,903 2,337
Investment in convertible bond 14,662 20,978
Other assets 308 296
Total assets 25,939 35,179
CURRENT LIABILITIES    
Accounts payable and accrued expenses 18,920 17,725
Operating lease liabilities, current portion 903 865
Conversion feature derivative, notes payable 2,800 451
Other current liabilities 14,353 14,681
Warrant derivative liabilities 69 65
Convertible notes payable, net of discount 16,329 16,383
Total current liabilities 64,025 61,507
Operating lease liabilities, less current portion 1,322 1,839
Other long-term liabilities 15,370 17,363
Total liabilities 82,953 82,935
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, 63,865,571 and 61,845,963 shares issued and outstanding at June 30, 2024 and December 31, 2023, respectively 64 62
Additional paid-in capital 225,839 225,333
Net loan receivable from EJ Holdings (16,869) (16,869)
Accumulated other comprehensive loss (3,394) (160)
Accumulated deficit (262,654) (256,122)
Total stockholders’ deficit (57,014) (47,756)
Total liabilities & stockholders’ deficit 25,939 35,179
Nonrelated Party [Member]    
CURRENT LIABILITIES    
Notes payable, current portion, net of discount 7,879 8,215
Related Party [Member]    
CURRENT LIABILITIES    
Notes payable, current portion, net of discount 2,772 3,122
Notes payable, less current portion, net of discount $ 2,236 $ 2,226