Full Press Release Details
ACTUAL AND AS ADJUSTED
| June 30, 2019 as reported | Adjustments as a result of August financing | June 30, 2019 including August financing | ||||||||||
| (Unaudited) | (Unaudited) | (Unaudited) | ||||||||||
| Assets | ||||||||||||
| Current assets: | ||||||||||||
| Cash and cash equivalents | $ | 8,471,914 | $ | 23,130,000 | (1) | $ | 31,601,914 | |||||
| Accounts receivable, net of allowance of $502,251 | 4,997,148 | 4,997,148 | ||||||||||
| Inventories, net | 1,560,116 | 1,560,116 | ||||||||||
| Prepaid expenses and other current assets | 514,408 | 514,408 | ||||||||||
| Total current assets | 15,543,586 | 23,130,000 | 38,673,586 | |||||||||
| Property and equipment, net | 297,494 | 297,494 | ||||||||||
| Operating lease right-of-use assets | 5,245,842 | 5,245,842 | ||||||||||
| Other assets | 168,153 | 168,153 | ||||||||||
| Total assets | $ | 21,255,075 | $ | 23,130,000 | $ | 44,385,075 | ||||||
| Liabilities and stockholders' equity (deficit) | ||||||||||||
| Current liabilities: | ||||||||||||
| Accounts payable | $ | 1,642,049 | $ | 1,642,049 | ||||||||
| Accrued liabilities | 2,376,058 | 2,376,058 | ||||||||||
| Deferred revenue | 6,537,988 | 6,537,988 | ||||||||||
| Current portion of operating lease liabilities | 2,223,023 | 2,223,023 | ||||||||||
| Total current liabilities | 12,779,118 | - | 12,779,118 | |||||||||
| Long-term deferred revenue | 508,772 | 508,772 | ||||||||||
| Operating lease liabilities | 3,048,650 | 3,048,650 | ||||||||||
| Other liabilities | 260,947 | 260,947 | ||||||||||
| Total liabilities | 16,597,487 | - | 16,597,487 | |||||||||
| Convertible preferred stock (10,000,000 shares authorized): | ||||||||||||
| Convertible preferred stock, par value $0.001; Series A, 23,855 shares outstanding | 5,948,953 | 5,948,953 | ||||||||||
| Stockholders' equity (deficit): | ||||||||||||
| Common stock, par value $0.001; 300,000,000 shares authorized, 59,383,038 issued at 6/30/19 as reported and 65,968,038 issued at 6/30/19 as adjusted | 59,383 | 6,585 | (2) | 65,968 | ||||||||
| Convertible preferred stock, par value $0.001; Series B, 0 shares outstanding at 6/30/19 as reported, 5,610,121 shares outstanding at 6/30/19 as adjusted | - | 5,610 | (3) | 5,610 | ||||||||
| Additional paid-in capital | 479,127,279 | 23,117,805 | (1) | 502,245,084 | ||||||||
| Treasury stock, 4,015 shares | (205,999 | ) | (205,999 | ) | ||||||||
| Accumulated deficit | (480,272,028 | ) | (480,272,028 | ) | ||||||||
| Total stockholders' equity (deficit) | (1,291,365 | ) | 23,130,000 | 21,838,635 | ||||||||
| Total liabilities and stockholders' equity (deficit) | $ | 21,255,075 | $ | 23,130,000 | $ | 44,385,075 |
Effect of sale of (i) 6,585,000 shares of the Company's common stock and (ii) 5,610,121 shares of the Company's Series
B Convertible Preferred Stock, in each case at a price of $2.05 per share (the "Private Placement"), net of expenses.
Effect of issuance of 6,585,000 shares of the Company's common stock in the Private Placement.
Effect of issuance of 5,610,121 shares of the Company's Series B Convertible Preferred Stock in the Private Placement.