v3.6.0.2
Consolidated Balance Sheets - USD ($)
Dec. 31, 2016
Dec. 31, 2015
Current assets:    
Cash and cash equivalents $ 8,086,000 $ 7,360,000
Accounts receivable 2,091,000 593,000
Inventory 2,687,000 1,549,000
Prepaid expenses and other current assets 1,066,000 1,228,000
Total current assets 13,930,000 10,730,000
Property and equipment, net 483,000 239,000
Other assets 136,000 138,000
Total assets 14,549,000 11,107,000
Current liabilities:    
Accounts payable 3,086,000 1,432,000
Accrued liabilities 2,186,000 1,293,000
Note payable, current portion 1,867,000 4,446,000
Total current liabilities 7,139,000 7,171,000
Note payable, noncurrent portion 7,762,000 0
Other noncurrent liabilities 53,000 0
Total liabilities 14,954,000 7,171,000
Commitments and contingences (Note 7)
Stockholders’ equity (deficit):    
Additional paid-in capital 68,216,000  
Accumulated deficit (68,622,000) (48,511,000)
Total stockholders’ equity (deficit) (405,000) 3,936,000
Total liabilities and stockholders’ equity (deficit) 14,549,000 11,107,000
Preferred Stock with Par Value [Member]    
Stockholders’ equity (deficit):    
Preferred stock, $0.0001 par value; 10,000,000 shares authorized as of December 31, 2016; no shares issued 0  
Preferred Stock, No Par Value [Member]    
Stockholders’ equity (deficit):    
Preferred stock, $0.0001 par value; 10,000,000 shares authorized as of December 31, 2016; no shares issued 0  
Common Stock with Par Value [Member]    
Stockholders’ equity (deficit):    
Common stock, $0.0001 par value; 75,000,000 shares authorized as of December 31, 2016; 10,661,201 shares issued and outstanding as of December 31, 2016 $ 1,000  
Common Stock with No Par Value [Member]    
Stockholders’ equity (deficit):    
Common stock, $0.0001 par value; 75,000,000 shares authorized as of December 31, 2016; 10,661,201 shares issued and outstanding as of December 31, 2016   $ 52,447,000
v3.6.0.2
Consolidated Statements of Operations - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Revenue $ 7,141 $ 1,447
Cost of revenue 4,612 985
Gross profit 2,529 462
Operating expenses:    
Research and development 8,365 4,988
Selling, general and administrative 12,868 7,464
Total operating expenses 21,233 12,452
Loss from operations (18,704) (11,990)
Interest expense, net (1,370) (415)
Other expense, net (37) (21)
Comprehensive and net loss $ (20,111) $ (12,426)
Net loss per share:    
Basic and diluted (in dollars per share) $ (2.18) $ (2.47)
Weighted average shares used in computing net loss per common share    
Basic and diluted (in shares) 9,222,348 5,023,080
v3.6.0.2
Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Cash flows from operating activities:    
Net loss $ (20,111,000) $ (12,426,000)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 111,000 77,000
Stock-based compensation 981,000 220,000
Restricted stock award granted to consultant 39,000
Fair value of warrants issued 162,000 251,000
Fair value of warrants issued to employees for bonuses 286,000
Non-cash interest expense 456,000 197,000
Changes in assets and liabilities:    
Accounts receivable (1,498,000) (587,000)
Inventory (1,237,000) (1,438,000)
Prepaid expenses and other current assets 162,000 (879,000)
Other noncurrent assets 2,000 18,000
Accounts payable 1,654,000 1,016,000
Accrued liabilities 1,192,000 1,070,000
Net cash used in operating activities (18,087,000) (12,195,000)
Cash flows from investing activities:    
Purchase of property and equipment (256,000) (109,000)
Net cash used in investing activities (256,000) (109,000)
Cash flows from financing activities:    
Proceeds from sale of common stock, net of issuance costs 13,886,000 16,433,000
Proceeds from note payable 9,910,000 2,500,000
Repayments of note payable (4,833,000) (167,000)
Proceeds from exercise of warrants 92,000 3,000
Proceeds from exercise of stock options 14,000  
Net cash provided by financing activities 19,069,000 18,769,000
Net increase in cash and cash equivalents 726,000 6,465,000
Cash and cash equivalents - beginning of period 7,360,000 895,000
Cash and cash equivalents - end of period 8,086,000 7,360,000
Supplemental disclosure:    
Cash paid for interest 803,000 196,000
Cash paid for income taxes 1,000 1,000
Supplemental disclosure of cash flow information as of end of period:    
Issuance of warrant in connection with note payable 350,000 10,000
Issuance of restricted stock awards to employees for performance bonuses 246,000
Net transfer of equipment from inventory to property and equipment $ 99,000 $ 20,000