Liquidity

6 Months Ended

Jun. 30, 2018

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Liquidity

2. LIQUIDITY

As of June 30, 2018, the Company had cash and cash equivalents of $10.1 million, net accounts receivable of $7.6 million, total current assets of $19.2 million and total current liabilities of $7.4 million. For the six months ended June 30, 2018, the Company had a net loss of $5.1 million and cash used in operating activities was $5.0 million.

The Company does not expect to generate positive cash flows from operations for the year ending December 31, 2018. The Company believes however, that it has sufficient cash balances to meet near term obligations and further intends to meet its capital needs by revenue growth, containing costs, entering into strategic alliances as well as exploring other options, including the possibility of raising additional debt or equity capital as necessary. There is, however, no assurance the Company will be successful in meeting its capital requirements prior to becoming cash flow positive.