Maturity analysis of lease liabilities |
At March 31, 2019, the Company's lease liabilities will mature as follows: | | | | | Year ended December 31, | Undiscounted Cash Flows | 2019 (April to December) | $ | 948 |
| 2020 | 1,080 |
| 2021 | 939 |
| 2022 | 969 |
| 2023 | 998 |
| Thereafter | 3,082 |
| Total undiscounted future lease payments | 8,016 |
| Discount | (1,749 | ) | Total lease liabilities | $ | 6,267 |
| Short-term lease liabilities | $ | 869 |
| Long-term lease liabilities | $ | 5,398 |
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Impact of Topic 842 adoption on reported results |
Adoption of the new lease standard impacted the Company's 2018 reported financial statements as follows: | | | | | | | | | | | | | | Three Months Ended March 31, 2018 | | As Reported | | New Lease Standard Adjustment | | As Adjusted | Condensed Consolidated Statements of Income: | | | | | | Revenue | $ | 60 |
| | $ | — |
| | $ | 60 |
| Expenses | 2,367 |
| | 10 |
| | 2,377 |
| Other Income (expense) | 17 |
| | 8 |
| | 25 |
| Net loss | (2,290 | ) | | (2 | ) | | (2,292 | ) | Basic and diluted net loss per share | (0.24 | ) | | — |
| | (0.24 | ) |
| | | | | | | | | | | | | | Year Ended December 31, 2018 | | As Reported | | New Lease Standard Adjustment | | As Adjusted | Condensed Consolidated Statements of Income: | | | | | | Revenue | $ | 556 |
| | $ | — |
| | $ | 556 |
| Expenses | 9,830 |
| | 45 |
| | 9,875 |
| Other Income (expense) | 104 |
| | 30 |
| | 134 |
| Net loss | (9,170 | ) | | (15 | ) | | (9,185 | ) | Basic and diluted net loss per share | (0.92 | ) | | — |
| | (0.92 | ) |
| | | | | | | | | | | | | | March 31, 2018 | | As Reported | | New Lease Standard Adjustment | | As Adjusted | Condensed Consolidated Balance Sheet: | | | | | | Current assets: | $ | 12,094 |
| | $ | — |
| | $ | 12,094 |
| Restricted cash | 317 |
| | — |
| | 317 |
| Property and equipment, net | 1,526 |
| | — |
| | 1,526 |
| Right-of-use assets | — |
| | 5,294 |
| | 5,294 |
| Other assets | 103 |
| | — |
| | 103 |
| Total assets | $ | 14,040 |
| | $ | 5,294 |
| | $ | 19,334 |
| | | | | | | Liabilities and Stockholders' Equity: | | | | | | Accounts payable | $ | 80 |
| | $ | — |
| | $ | 80 |
| Accrued expenses | 1,352 |
| | (564 | ) | | 788 |
| Short-term lease liabilities | — |
| | 684 |
| | 684 |
| Lease incentive obligation, net of current portion | 973 |
| | (973 | ) | | — |
| Long-term lease liabilities | — |
| | 6,149 |
| | 6,149 |
| Stockholders' equity | 11,635 |
| | (2 | ) | | 11,633 |
| Total liabilities and stockholders' equity | $ | 14,040 |
| | $ | 5,294 |
| | $ | 19,334 |
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| | | | | | | | | | | | | | December 31, 2018 | | As Reported | | New Lease Standard Adjustment | | As Adjusted | Condensed Consolidated Balance Sheet: | | | | | | Current assets: | $ | 6,377 |
| | $ | — |
| | $ | 6,377 |
| Restricted cash | 332 |
| | — |
| | 332 |
| Property and equipment, net | 1,385 |
| | — |
| | 1,385 |
| Right-of-use assets | — |
| | 4,766 |
| | 4,766 |
| Other assets | 100 |
| | — |
| | 100 |
| Total assets | $ | 8,194 |
| | $ | 4,766 |
| | $ | 12,960 |
| | | | | | | Liabilities and Stockholders' Equity: | | | | | | Accounts payable | $ | 117 |
| | $ | — |
| | $ | 117 |
| Accrued expenses | 1,429 |
| | (749 | ) | | 680 |
| Short-term lease liabilities | — |
| | 844 |
| | 844 |
| Lease incentive obligation, net of current portion | 935 |
| | (935 | ) | | — |
| Long-term lease liabilities | — |
| | 5,621 |
| | 5,621 |
| Stockholders' equity | 5,713 |
| | (15 | ) | | 5,698 |
| Total liabilities and stockholders' equity | $ | 8,194 |
| | $ | 4,766 |
| | $ | 12,960 |
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