Quarterly report [Sections 13 or 15(d)]

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)

v3.25.3
CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
$ in Thousands
Sep. 30, 2025
Dec. 31, 2024
CURRENT ASSETS    
Cash and cash equivalents $ 293 $ 1,389
Accounts receivable, net 2,619 2,623
Inventories, net 1,213 1,635
Prepaid expenses and other current assets 661 1,120
Total current assets 4,786 6,767
Property and equipment, net 128 46
Right of use assets 799 1,530
Investment in convertible bond 14,876 15,037
Other assets 167 222
Total assets 20,756 23,602
CURRENT LIABILITIES    
Accounts payable and accrued expenses 21,759 16,926
Operating lease liabilities, current portion 348 2,423
Conversion feature derivative, notes payable   162
Other current liabilities 14,475 16,557
Warrant derivative liabilities 11 8
Convertible notes payable, net of discount 16,804 17,014
Total current liabilities 64,169 63,555
Operating lease liabilities, less current portion 1,498 815
Other long-term liabilities 12,313 13,465
Total liabilities 80,244 80,081
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, 63,865,571 shares issued and outstanding at September 30, 2025 and December 31, 2024 64 64
Additional paid-in capital 225,914 225,896
Net loan receivable from EJ Holdings (16,869) (16,869)
Accumulated other comprehensive loss (481) (2,995)
Accumulated deficit (268,116) (262,575)
Total stockholders’ deficit (59,488) (56,479)
Total liabilities and stockholders' deficit 20,756 23,602
Nonrelated Party [Member]    
CURRENT LIABILITIES    
Notes payable, current portion, net of discount 7,640 7,093
Related Party [Member]    
CURRENT LIABILITIES    
Notes payable, current portion, net of discount 3,132 3,372
Notes payable, less current portion, net of discount $ 2,264 $ 2,246