XML 39 R2.htm IDEA: XBRL DOCUMENT v2.4.0.8
Condensed Consolidated Balance Sheets (Current Period Unaudited) (USD $)
In Thousands, unless otherwise specified
Jun. 30, 2014
Dec. 31, 2013
ASSETS    
Cash $ 110 $ 13
Restricted cash 47 882
Accounts receivable 20  
Inventory 26 21
Other receivable   171
Other current assets 48 96
Total current assets 251 1,183
Property and equipment, net 5 4
Other assets 69 14
Intangible assets, net 6,721 7,018
Total assets 7,046 8,219
LIABILITIES AND STOCKHOLDERS’ DEFICIT    
Notes payable, net of discounts (including $216 and $60 to related parties, respectively) 1,250 467
Subordinated convertible debt with an embedded convertible option, at fair value 2,137  
Liabilities for conversion option of the convertible notes 125 3,124
Accounts payable 1,057 854
Accrued expenses (including $2,386 and $1,764 to related parties, respectively) 3,580 2,718
Due to former related party under shared services agreement 217 211
Total current liabilities 8,366 7,374
Commitments and contingencies (Notes 11 and 12)      
Subordinated convertible debt with an embedded convertible option, at fair value   4,925
Warrant liabilities at fair value 1,962 6,114
Contingent consideration – estimated royalty obligations 3,840 3,940
Total liabilities 14,168 22,353
Stockholders’ deficit:    
Preferred Stock ($10 par value; shares authorized 5,000; 0 shares issued and outstanding)     
Common shares ($0.01 par value; shares authorized 50,000; shares issued and outstanding, 41,480 and 9,459, respectively, including 29,097 shares issuable at June 30, 2014) 415 95
Additional paid-in-capital 13,220 5,595
Accumulated deficit during the development stage (20,757) (19,824)
Total stockholders’ deficit (7,122) (14,134)
Total liabilities and stockholders’ deficit $ 7,046 $ 8,219