Document And Entity Information
Document And Entity Information - USD ($) | 12 Months Ended | ||
Dec. 31, 2019 | Mar. 24, 2020 | Jun. 30, 2019 | |
Document Information [Line Items] | |||
Entity Registrant Name | NOVABAY PHARMACEUTICALS, INC. | ||
Entity Central Index Key | 0001389545 | ||
Trading Symbol | nby | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Filer Category | Non-accelerated Filer | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Emerging Growth Company | false | ||
Entity Small Business | true | ||
Entity Interactive Data Current | Yes | ||
Entity Common Stock, Shares Outstanding (in shares) | 28,010,564 | ||
Entity Public Float | $ 15,627,956 | ||
Entity Shell Company | false | ||
Document Type | 10-K | ||
Document Period End Date | Dec. 31, 2019 | ||
Document Fiscal Year Focus | 2019 | ||
Document Fiscal Period Focus | FY | ||
Amendment Flag | false | ||
Title of 12(b) Security | Common Stock, par value $0.01 per share |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
ASSETS | ||
Cash and cash equivalents | $ 6,937 | $ 3,183 |
Accounts receivable, net of allowance for doubtful accounts ($51 and $10 at December 31, 2019 and December 31, 2018, respectively) | 1,066 | 3,385 |
Inventory, net of allowance for excess and obsolete inventory and lower of cost or estimated net realizable value adjustments ($247 and $104 at December 31, 2019 and December 31, 2018, respectively) | 492 | 280 |
Prepaid expenses and other current assets | 886 | 1,760 |
Total current assets | 9,381 | 8,608 |
Operating lease right-of-use assets | 1,252 | |
Property and equipment, net | 110 | 201 |
Other assets | 477 | 552 |
TOTAL ASSETS | 11,220 | 9,361 |
LIABILITIES AND STOCKHOLDERS' EQUITY | ||
Accounts payable | 331 | 551 |
Accrued liabilities | 1,778 | 3,255 |
Deferred revenue | 41 | |
Operating lease liability | 930 | |
Notes payable, related party | 1,202 | |
Convertible note | 1,409 | |
Embedded derivative liability | 3 | |
Warrant liability | 34 | |
Total current liabilities | 5,687 | 3,847 |
Operating lease liabilities-non-current | 505 | |
Deferred rent | 184 | |
Warrant liability | 4,055 | 178 |
Other liabilities | 198 | |
Total liabilities | 10,247 | 4,407 |
Stockholders' equity: | ||
Preferred stock: 5,000 shares authorized; none outstanding at December 31, 2019 and December 31, 2018 | ||
Common stock, $0.01 par value; 50,000 shares authorized; 27,938 and 17,089 shares issued and outstanding at December 31, 2019 and December 31, 2018, respectively | 279 | 171 |
Additional paid-in capital | 125,718 | 119,764 |
Accumulated deficit | (125,024) | (114,981) |
Total stockholders' equity | 973 | 4,954 |
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $ 11,220 | $ 9,361 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parentheticals) - USD ($) shares in Thousands, $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Accounts receivable, allowance for doubtful accounts | $ 51 | $ 10 |
Inventory, allowance for excess and obsolete inventory and lower of cost or estimated net realizable value adjustments | $ 247 | $ 104 |
Preferred stock, shares authorized (in shares) | 5,000 | 5,000 |
Preferred stock, shares outstanding (in shares) | 0 | 0 |
Common stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Common stock, shares authorized (in shares) | 50,000 | 240,000 |
Common stock, shares issued (in shares) | 27,938 | 17,089 |
Common stock, shares outstanding (in shares) | 27,938 | 17,089 |
Consolidated Statements of Oper
Consolidated Statements of Operations and Comprehensive Loss - USD ($) shares in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Sales: | |||
Total sales, net | $ 6,599,000 | $ 12,508,000 | $ 18,230,000 |
Product cost of goods sold | 1,738,000 | 1,503,000 | 2,784,000 |
Gross profit | 4,861,000 | 11,005,000 | 15,446,000 |
Research and development | 184,000 | 259,000 | 410,000 |
Sales and marketing | 8,767,000 | 12,789,000 | 13,711,000 |
General and administrative | 5,310,000 | 5,828,000 | 8,636,000 |
Total operating expenses | 14,261,000 | 18,876,000 | 22,757,000 |
Operating loss | (9,400,000) | (7,871,000) | (7,311,000) |
Non-cash gain (loss) on changes in fair value of warrant liability | 749,000 | 1,311,000 | (101,000) |
Non-cash gain on changes in fair value of embedded derivative liability | 424,000 | ||
Other (expense) income, net | 1,425,000 | (19,000) | (12,000) |
Loss before provision for income taxes | (9,652,000) | (6,541,000) | (7,400,000) |
Provision for income taxes | (6,000) | (4,000) | (3,000) |
Net loss and comprehensive loss | (9,658,000) | (6,545,000) | (7,403,000) |
Less: Preferred deemed dividend | 800,000 | ||
Less: Retained earnings reduction related to warrants down round feature triggered | 29,000 | ||
Net loss attributable to common stockholders | $ (10,487,000) | $ (6,545,000) | $ (7,403,000) |
Net loss per share attributable to common stockholders (basic) (in dollars per share) | $ (0.48) | $ (0.39) | $ (0.48) |
Net loss per share attributable to common stockholders (diluted) (in dollars per share) | $ (0.48) | $ (0.46) | $ (0.48) |
Weighted-average shares of common stock outstanding used in computing net loss per share of common stock (basic) (in shares) | 21,641 | 16,921 | 15,324 |
Weighted-average shares of common stock outstanding used in computing net loss per share of common stock (diluted) (in shares) | 21,641 | 17,058 | 15,324 |
Product [Member] | |||
Sales: | |||
Total sales, net | $ 6,556,000 | $ 12,474,000 | $ 18,127,000 |
Product and Service, Other [Member] | |||
Sales: | |||
Total sales, net | $ 43,000 | $ 34,000 | $ 103,000 |
Consolidated Statements of Stoc
Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands | Nonemployees [Member]Preferred Stock [Member] | Nonemployees [Member]Common Stock [Member] | Nonemployees [Member]Additional Paid-in Capital [Member] | Nonemployees [Member]AOCI Attributable to Parent [Member] | Nonemployees [Member]Retained Earnings [Member] | Nonemployees [Member] | Employees and Directors [Member]Preferred Stock [Member] | Employees and Directors [Member]Common Stock [Member] | Employees and Directors [Member]Additional Paid-in Capital [Member] | Employees and Directors [Member]AOCI Attributable to Parent [Member] | Employees and Directors [Member]Retained Earnings [Member] | Employees and Directors [Member] | Employee [Member]Preferred Stock [Member] | Employee [Member]Common Stock [Member] | Employee [Member]Additional Paid-in Capital [Member] | Employee [Member]AOCI Attributable to Parent [Member] | Employee [Member]Retained Earnings [Member] | Employee [Member] | Conversion of Series A Preferred Stock to Common Stock [Member]Preferred Stock [Member] | Conversion of Series A Preferred Stock to Common Stock [Member]Common Stock [Member] | Conversion of Series A Preferred Stock to Common Stock [Member]Additional Paid-in Capital [Member] | Conversion of Series A Preferred Stock to Common Stock [Member]AOCI Attributable to Parent [Member] | Conversion of Series A Preferred Stock to Common Stock [Member]Retained Earnings [Member] | Conversion of Series A Preferred Stock to Common Stock [Member] | Series A Preferred Stock [Member]Preferred Stock [Member] | Series A Preferred Stock [Member]Common Stock [Member] | Series A Preferred Stock [Member]Additional Paid-in Capital [Member] | Series A Preferred Stock [Member]AOCI Attributable to Parent [Member] | Series A Preferred Stock [Member]Retained Earnings [Member] | Series A Preferred Stock [Member] | Preferred Stock [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | AOCI Attributable to Parent [Member] | Retained Earnings [Member] | Total |
Balance (in shares) at Dec. 31, 2016 | 15,269,000 | |||||||||||||||||||||||||||||||||||
Balance at Dec. 31, 2016 | $ 153 | $ 110,619 | $ (103,671) | $ 7,101 | ||||||||||||||||||||||||||||||||
Net loss | (7,403) | (7,403) | ||||||||||||||||||||||||||||||||||
Issuance of common stock in connection with exercise of warrants, net of offering costs (in shares) | 21,000 | |||||||||||||||||||||||||||||||||||
Issuance of common stock in connection with exercise of warrants, net of offering costs | 97 | $ 97 | ||||||||||||||||||||||||||||||||||
Issuance of stock for option exercises (in shares) | 68,000 | 68,000 | ||||||||||||||||||||||||||||||||||
Issuance of stock for option exercises | $ 1 | 184 | $ 185 | |||||||||||||||||||||||||||||||||
Issuance of stock to consultants for services (in shares) | 1,000 | |||||||||||||||||||||||||||||||||||
Issuance of stock to consultants for services | ||||||||||||||||||||||||||||||||||||
Vesting of restricted stock awards (in shares) | 26,000 | |||||||||||||||||||||||||||||||||||
Vesting of restricted stock awards | $ 106 | $ 106 | ||||||||||||||||||||||||||||||||||
Stock-based compensation expense related to employee and director stock options | 1,867 | 1,867 | ||||||||||||||||||||||||||||||||||
Stock-based compensation expense related to non-employee and director stock options | 137 | 137 | ||||||||||||||||||||||||||||||||||
Stock option modification | 504 | 504 | ||||||||||||||||||||||||||||||||||
Conversion of Series A Preferred Stock to common stock | ||||||||||||||||||||||||||||||||||||
Balance (in shares) at Dec. 31, 2017 | 15,385,000 | |||||||||||||||||||||||||||||||||||
Balance at Dec. 31, 2017 | $ 154 | 113,514 | (111,074) | 2,594 | ||||||||||||||||||||||||||||||||
Net loss | (6,545) | $ (6,545) | ||||||||||||||||||||||||||||||||||
Issuance of stock for option exercises (in shares) | 4,000 | 4,000 | ||||||||||||||||||||||||||||||||||
Issuance of stock for option exercises | 11 | $ 11 | ||||||||||||||||||||||||||||||||||
Stock-based compensation expense related to employee and director stock options | $ 594 | $ 594 | ||||||||||||||||||||||||||||||||||
Stock option modification | 77 | 77 | ||||||||||||||||||||||||||||||||||
Issuance of common stock in connection with offering (in shares) | 1,700,000 | |||||||||||||||||||||||||||||||||||
Issuance of common stock in connection with offering | $ 17 | 5,967 | 5,984 | |||||||||||||||||||||||||||||||||
Offering costs | (399) | (399) | ||||||||||||||||||||||||||||||||||
Cumulative retrospective adjustment related to adoption of ASC 606 | 2,638 | 2,638 | ||||||||||||||||||||||||||||||||||
Conversion of Series A Preferred Stock to common stock | ||||||||||||||||||||||||||||||||||||
Balance (in shares) at Dec. 31, 2018 | 17,089,000 | |||||||||||||||||||||||||||||||||||
Balance at Dec. 31, 2018 | $ 171 | 119,764 | (114,981) | 4,954 | ||||||||||||||||||||||||||||||||
Net loss | (9,658) | (9,658) | ||||||||||||||||||||||||||||||||||
Issuance of common stock in connection with exercise of warrants, net of offering costs (in shares) | 389,000 | |||||||||||||||||||||||||||||||||||
Issuance of common stock in connection with exercise of warrants, net of offering costs | $ 4 | 616 | $ 620 | |||||||||||||||||||||||||||||||||
Issuance of stock for option exercises (in shares) | 83,000 | 83,000 | ||||||||||||||||||||||||||||||||||
Issuance of stock for option exercises | 189 | $ 189 | ||||||||||||||||||||||||||||||||||
Vesting of restricted stock awards (in shares) | 36,000 | 6,000 | ||||||||||||||||||||||||||||||||||
Vesting of restricted stock awards | 20 | 20 | $ 10 | $ 10 | ||||||||||||||||||||||||||||||||
Stock-based compensation expense related to employee and director stock options | 37 | 37 | ||||||||||||||||||||||||||||||||||
Stock-based compensation expense related to non-employee and director stock options | $ 334 | $ 334 | ||||||||||||||||||||||||||||||||||
Stock option modification | 105 | 105 | ||||||||||||||||||||||||||||||||||
Issuance of common stock in connection with offering (in shares) | 7,467,000 | |||||||||||||||||||||||||||||||||||
Issuance of common stock in connection with offering | $ 75 | 3,427 | 3,502 | |||||||||||||||||||||||||||||||||
Reclassification of Warrant Liability to Equity – see Note 2 | 412 | (356) | 56 | |||||||||||||||||||||||||||||||||
Down round feature adjustment related to warrants | 29 | (29) | ||||||||||||||||||||||||||||||||||
Issuance of Series A Preferred Stock and common stock warrants, net of offering costs (in shares) | 2,700,000 | |||||||||||||||||||||||||||||||||||
Issuance of Series A Preferred Stock and common stock warrants, net of offering costs | $ 584 | |||||||||||||||||||||||||||||||||||
Conversion of Series A Preferred Stock to common stock (in shares) | (2,700,000) | |||||||||||||||||||||||||||||||||||
Conversion of Series A Preferred Stock to common stock | $ (584) | (584) | ||||||||||||||||||||||||||||||||||
Conversion of Series A Preferred Stock to common stock (in shares) | 2,700,000 | |||||||||||||||||||||||||||||||||||
Conversion of Series A Preferred Stock to common stock | $ 27 | $ 557 | 584 | |||||||||||||||||||||||||||||||||
Conversion of Series A Preferred Stock to common stock | $ 27 | $ 557 | $ 584 | |||||||||||||||||||||||||||||||||
Beneficial conversion feature upon issuance of Series A Preferred Stock | $ 800 | $ 800 | ||||||||||||||||||||||||||||||||||
Deemed dividend from beneficial conversion feature of Series A Preferred Stock | $ (800) | $ (800) | ||||||||||||||||||||||||||||||||||
Issuance of RSUs related to employee separation agreement (in shares) | 168,000 | |||||||||||||||||||||||||||||||||||
Issuance of RSUs related to employee separation agreement | $ 2 | 218 | 220 | |||||||||||||||||||||||||||||||||
Balance (in shares) at Dec. 31, 2019 | 27,938,000 | |||||||||||||||||||||||||||||||||||
Balance at Dec. 31, 2019 | $ 279 | $ 125,718 | $ (125,024) | $ 973 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Operating activities: | |||
Net loss | $ (9,658,000) | $ (6,545,000) | $ (7,403,000) |
Adjustments to reconcile net loss to net cash used in operating activities: | |||
Depreciation and amortization | 65,000 | 266,000 | 95,000 |
Impairment of property and equipment | 32,000 | ||
Loss on disposal of property and equipment | 3,000 | 1,000 | |
Impairment of operating lease right-of-use assets | 125,000 | ||
Stock option modification expense | 105,000 | 77,000 | 504,000 |
Non-cash (gain) loss on changes in fair value of warrant liability | (749,000) | (1,311,000) | 101,000 |
Non-cash gain on changes in fair value of embedded derivative liability | (424,000) | ||
Interest expense related to amortization of debt issuance and debt discount | 670,000 | ||
Interest expense related to amortization of debt issuance related to related party notes payable | 18,000 | ||
Issuance of warrants for services | 59,000 | ||
Changes in operating assets and liabilities: | |||
Accounts receivable | 2,319,000 | 774,000 | (1,509,000) |
Inventory | (212,000) | 198,000 | 369,000 |
Prepaid expenses and other current assets | 888,000 | (97,000) | 313,000 |
Operating lease right-of-use assets | 861,000 | ||
Other assets | 9,000 | 62,000 | (73,000) |
Accounts payable and accrued liabilities | (1,800,000) | 516,000 | (260,000) |
Operating lease liabilities | (1,066,000) | ||
Deferred rent | (69,000) | 27,000 | |
Deferred revenue | (41,000) | (34,000) | (472,000) |
Related party notes payable | 204,000 | ||
Long-term obligations | 42,000 | ||
Net cash used in operating activities | (7,929,000) | (5,568,000) | (6,270,000) |
Investing activities: | |||
Purchases of property and equipment | (19,000) | (44,000) | (244,000) |
Net cash used in investing activities | (19,000) | (44,000) | (244,000) |
Financing activities: | |||
Proceeds from preferred stock issuances, net | 2,598,000 | ||
Proceeds from common stock issuances, net | 6,698,000 | 5,585,000 | |
Proceeds from issuance of related party notes payable | 1,000,000 | ||
Proceeds from exercise of options, net | 189,000 | 11,000 | 185,000 |
Proceeds from stock options & RSUs sold to cover taxes | 4,000 | 1,000 | 26,000 |
Proceeds from exercise of warrants | 67,000 | 38,000 | |
Settlement of restricted stock for tax withholding | (48,000) | ||
Proceeds from convertible notes, net of discount | 2,000,000 | ||
Payment on the convertible note | (652,000) | ||
Debt issuance cost | (202,000) | ||
Net cash provided by financing activities | 11,702,000 | 5,597,000 | 201,000 |
Net increase (decrease) in cash, cash equivalents, and restricted cash | 3,754,000 | (15,000) | (6,313,000) |
Cash, cash equivalents and restricted cash, beginning of year | 3,658,000 | 3,673,000 | 9,986,000 |
Cash, cash equivalents and restricted cash, end of year | 7,412,000 | 3,658,000 | 3,673,000 |
Supplemental disclosure of cash flow information: | |||
Interest paid | 148,000 | ||
Income taxes paid | 14,000 | 14,000 | |
Cumulative effect of adoption of New ASU | 2,638,000 | ||
Addition of operating lease, right-of-use asset | 2,473,000 | ||
Stock issued to consultants for services, included in accounts payable and accrued liabilities | 1,000 | ||
Fixed asset purchases, included in accounts payable and accrued liabilities | 10,000 | (49,000) | (49,000) |
Warrant liability transferred to equity | 553,000 | 58,000 | |
Fair value of warrants issued in connection with financings | 5,269,000 | ||
Reclassification of EmeryStation lease security deposit from long term to short term | 65,000 | ||
Reclassification of EmeryStation sublease security deposit from long term to short term | 198,000 | ||
Conversion of Series A Preferred Stock to Common Stock [Member] | |||
Supplemental disclosure of cash flow information: | |||
Conversion of preferred stock to common stock | 584,000 | ||
Employees and Directors [Member] | Share-based Payment Arrangement, Option [Member] | |||
Adjustments to reconcile net loss to net cash used in operating activities: | |||
Stock-based compensation expense for options and stock issued | 334,000 | 594,000 | 1,867,000 |
Nonemployees [Member] | |||
Adjustments to reconcile net loss to net cash used in operating activities: | |||
Issuance of RSUs | 20,000 | 34,000 | |
Supplemental disclosure of cash flow information: | |||
Severance paid in RSU to non-employee | 69,000 | ||
Nonemployees [Member] | Share-based Payment Arrangement, Option [Member] | |||
Adjustments to reconcile net loss to net cash used in operating activities: | |||
Stock-based compensation expense for options and stock issued | 37,000 | 137,000 | |
Employee [Member] | |||
Adjustments to reconcile net loss to net cash used in operating activities: | |||
Issuance of RSUs | 10,000 | ||
Former Employee [Member] | |||
Adjustments to reconcile net loss to net cash used in operating activities: | |||
Issuance of RSUs | 220,000 | ||
Accounting Standards Update 2014-09 [Member] | |||
Supplemental disclosure of cash flow information: | |||
Cumulative effect of adoption of New ASU | 2,638,000 | ||
Accounting Standards Update 2017-11 [Member] | |||
Supplemental disclosure of cash flow information: | |||
Cumulative effect of adoption of New ASU | $ 56,000 |
Note 1 - Organization
Note 1 - Organization | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | NOTE 1. NovaBay Pharmaceuticals, Inc. (the “Company”) is a biopharmaceutical company focusing on commercializing and developing its non-antibiotic anti-infective products to address the unmet therapeutic needs of the global, topical anti-infective market with its two ® ® ® ® ® not The Company was incorporated under the laws of the State of California on January 19, 2000, no July 1, 2002, February 2007, June 2010, April 2016, four Effective December 18, 2015, 1 25 Liquidity Based primarily on the funds available at December 31, 2019, second 2020. 2020 2020 may 1 2 3 one 4 may 1 3 one one not may |
Note 2 - Summary of Significant
Note 2 - Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | NOTE 2. Basis of Presentation The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States ("U.S. GAAP") and are expressed in U.S. dollars. Use of Estimates The preparation of financial statements in accordance with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. These estimates include useful lives for property and equipment and related depreciation calculations, estimated amortization periods for payments received from product development and license agreements as they relate to revenue recognition, assumptions for valuing options and warrants, and income taxes. Actual results could differ from those estimates. Cash and Cash Equivalents The Company considers all highly-liquid instruments with a stated maturity of three December 31, 2019, December 31, 2018, two The following table provides a reconciliation of the cash, cash equivalents, and restricted cash reported in the consolidated balance sheets that sum to the total of the same reported in the consolidated statements of cash flows: December 31, December 31, 2019 2018 Cash and cash equivalents $ 6,937 $ 3,183 Restricted cash included in Other assets 475 475 Total cash, cash equivalents, and restricted cash in the statements of cash flows $ 7,412 $ 3,658 The restricted cash amount included in Other assets on the consolidated balance sheets represent amounts held as certificates of deposit for long-term financing and lease arrangements as contractually required by our financial institution and landlord. Concentrations of Credit Risk, Major Partners and Customers, and Suppliers Financial instruments that potentially subject us to significant concentrations of credit risk consist primarily of cash and cash equivalents. The Company maintains deposits of cash and cash equivalents with a highly-rated, major financial institution in the United States. Deposits in this bank may not During the year ended December 31, 2019, three December 31, 2018 2017, three As of December 31, 2019, December 31, 2018 December 31, 2017, 10% Year Ended December 31, Major distribution or collaboration partner 2019 2018 2017 Distributer A 16 % 23 % 22 % Distributer B 17 % 26 % 23 % Distributer C 15 % 25 % 21 % Collaborator D * % * % 10 % Avenova Direct via Amazon 15 % — % — % *Not 10% As of December 31, 2019 December 31, 2018, 10% Year Ended December 31, Major distribution or collaboration partner 2019 2018 Distributer A 28 % 32 % Distributer B 13 % 31 % Distributer C 19 % 23 % Avenova Direct via Amazon 20 % — % The Company relies on two not third third may not Fair Value of Financial Assets and Liabilities The Company’s financial instruments include cash and cash equivalents, accounts receivable, accounts payable and accrued liabilities, related party notes payable, a convertible note, and warrants. The fair value of cash and cash equivalents, accounts receivable, accounts payable and accrued liabilities, and related party notes payable is carried at cost, which management believes approximates fair value due to the short-term nature of these instruments. The Secured Convertible Promissory Note issued on March 26, 2019 ( The Company follows ASC 820, Fair Value Measurements and Disclosures three may Level 1 Level 2 Level 3 Categorization within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement. Allowance for Doubtful Accounts The Company charges bad debt expense and records an allowance for doubtful accounts when management believes it unlikely a specific invoice will be collected. Management identifies amounts due that are in dispute, and it believes are unlikely to be collected at the end of each reporting period. At December 31, 2019 December 31, 2018, $51 $10 120 Inventory Inventory is comprised of ( 1 2 3 December 31, 2019 2018, $247 $104 Inventory is stated at the lower of cost or estimated net realizable value determined by the first first Property and Equipment Property and equipment are stated at cost, less accumulated depreciation and amortization. Depreciation is calculated using the straight-line method over the estimated useful lives of the related assets of five seven three seven seven The costs of normal maintenance, repairs, and minor replacements are charged to operations when incurred. Impairment of Long-Lived Assets The Company accounts for long-lived assets and operating lease right-of-use assets in accordance with ASC 360, Property, Plant and Equipment may not first 2019, $125 December 31, 2019. 8, third 2019, $32 December 31, 2019. Leases In February 2016, 2016 02, Leases (Topic 842 January 1, 2019. not At the inception of an arrangement, the Company determines whether the arrangement is or contains a lease based on the unique facts and circumstances present. Operating lease liabilities and their corresponding right-of-use assets are recorded based on the present value of lease payments over the expected lease term. The interest rate implicit in lease contracts is typically not may The Company has elected to combine lease and non-lease components as a single component for all leases in which it is a lessee or a lessor. The lease expense is recognized over the expected term on a straight-line basis. Operating leases are recognized on the balance sheet as right-of-use assets, operating lease liabilities current and operating lease liabilities non-current. As a result, as of the effective date, the Company no Comprehensive Income (Loss) ASC 220, Comprehensive Income, Revenue Recognition The Company generates product revenue through product sales to its major distribution partners, a limited number of other distributors and via its webstore. Product supply is the only performance obligation contained in these arrangements, and the Company recognizes product revenue upon transfer of control to its major distribution partners at the amount of consideration that the Company expects to be entitled to, generally upon shipment to the distributor on a "sell-in" basis. Other revenue is primarily generated through commercial partner agreements with strategic partners for the development and commercialization of the Company's product candidates. The terms of the agreements typically include more than one In determining the appropriate amount of revenue to be recognized as it fulfills its obligations under its agreements, the Company performs the following steps: (i) identification of the promised goods or services in the contract; (ii) determination of whether the promised goods or services are performance obligations including whether they are distinct in the context of the contract; (iii) measurement of the transaction price, including the constraint on variable consideration; (iv) allocation of the transaction price to the performance obligations based on estimated selling prices; and (v) recognition of revenue when (or as) the Company satisfies each performance obligation. Performance Obligations A performance obligation is a promise in a contract to transfer a distinct good or service to the customer and is the unit of account in ASC Topic 606. ● Product supply ● Exclusive distribution rights in the product territory ● Regulatory submission and approval services ● Development services ● Sample supply ● Incremental discounts and product supply prepayments considered material rights to the customer The Company has optional additional items in contracts, which are considered marketing offers and are accounted for as separate contracts when the customer elects such options. Arrangements that include a promise for future commercial product supply and optional research and development services at the customer's or the Company's discretion are generally considered options. The Company assesses if these options provide a material right to the licensee and if so, such material rights are accounted for as separate performance obligations. Transaction Price The Company has both fixed and variable consideration. Under the Company's license arrangements, non-refundable upfront fees are considered fixed, while milestone payments are identified as variable consideration when determining the transaction price. Product supply selling prices are identified as variable consideration subject to the constraint on variable consideration for estimated discounts, rebates, chargebacks and product returns. Funding of research and development activities are considered variable payments until such costs are reimbursed, at which point they are considered fixed. The Company allocates the total transaction price to each performance obligation based on the relative estimated standalone selling prices of the promised goods or services for each performance obligation. For product supply under the Company's distribution arrangements, contract liabilities are recorded for invoiced amounts that are subject to significant reversal, including product revenue allowances for cash consideration paid to customers for services, discounts, rebate programs, chargebacks, and product returns. Because the Company does not not 30 one one At the inception of each arrangement that includes milestone payments, the Company evaluates whether the milestones are considered probable of being achieved and estimates the amount to be included in the transaction price using the most likely amount method. If it is probable that a significant revenue reversal would not not not For arrangements that include sales-based royalties and the license is deemed to be the predominant item to which the royalties relate, the Company recognizes revenue at the later of (a) when the related sales occur, or (b) when the performance obligation to which some or all of the royalty has been allocated has been satisfied (or partially satisfied). Allocation of Consideration As part of the accounting for arrangements that contain multiple performance obligations, the Company must develop assumptions that require judgment to determine the stand-alone selling price of each performance obligation identified in the contract. When a contract contains more than one Timing of Recognition Significant management judgment is required to determine the level of effort required under an arrangement and the period over which the Company expects to complete its performance obligations under the arrangement. If the Company cannot reasonably estimate when its performance obligations either are completed or become inconsequential, then revenue recognition is deferred until the Company can reasonably make such estimates. Revenue is then recognized over the remaining estimated period of performance using the cumulative catch-up method. Revenue is recognized for products at a point in time and for licenses of functional intellectual property at the point in time the customer can use and benefit from the license. For performance obligations that are services, revenue is recognized over time proportionate to the costs that the Company has incurred to perform the services using the cost-to-cost input method. The Company's intellectual property in the form of distribution rights are determined to be distinct from the other performance obligations identified in the arrangements and considered "right to use" licenses which the customer can benefit from at a point in time. The Company recognizes revenues from non-refundable, up-front fees allocated to the license when the license is transferred to the customer, and the customer can use and benefit from the license. Cost of Goods Sold Cost of goods sold includes third Research and Development Costs The Company charges research and development costs to expense as incurred. These costs include salaries and benefits for research and development personnel, costs associated with clinical trials managed by contract research organizations, and other costs associated with research, development and regulatory activities. Research and development costs may no may Patent Costs Patent costs, including legal expenses, are expensed in the period in which they are incurred. Patent expenses are included in general and administrative expenses in the consolidated statements of operations and comprehensive loss. Stock-Based Compensation The Company’s stock-based compensation includes grants of stock options and RSUs to employees, consultants and non-employee directors. The expense associated with these programs is recognized in the Company’s consolidated statements of stockholders’ equity based on their fair values as they are earned under the applicable vesting terms or the length of an offering period. For stock options granted, the fair value of the stock options is estimated using a Black-Scholes-Merton option pricing model. See Note 13, Income Taxes The Company accounts for income taxes under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. A valuation allowance is recognized if it is more likely than not not Common Stock Warrant Liabilities The Company accounts for the issuance of common stock purchase warrants issued in connection with its equity offerings in accordance with the provisions of ASC 815, Derivatives and Hedging On January 1, 2019, 2017 11, Earnings Per Share (Topic 260 480 815 2017 11 no no 2017 11, $56 $56 December 31, 2019. $356 January 1, 2019, $356 11, Net Loss per Share The Company computes net loss per share by presenting both basic and diluted earnings (loss) per share ("EPS"). Basic EPS is computed by dividing net loss available to common shareholders by the weighted average number of common shares outstanding during the period. Diluted EPS gives effect to all dilutive potential common shares outstanding during the period, including stock options and warrants, using the treasury stock method. In computing diluted EPS, the average stock price for the period is used to determine the number of shares assumed to be purchased from the exercise of stock options or warrants. Potentially dilutive common share equivalents are excluded from the diluted EPS computation in net loss periods because their effect would be anti-dilutive. During the year ended December 31, 2019, $ 0.48 The following table sets forth the calculation of basic EPS and diluted EPS (in thousands, except per share amounts): Year Ended December 31, Numerator 2019 2018 2017 Net loss $ (9,658 ) $ (6,545 ) $ (7,403 ) Less: Preferred deemed dividend 800 — — Less: Retained earnings reduction related to warrants down round feature triggered 29 — — Net loss attributable to common stockholders, basic (10,487 ) (6,545 ) (7,403 ) Less gain on changes in fair value of warrant liability — 1,311 — Net loss attributable to common stockholders, diluted $ (10,487 ) $ (7,856 ) $ (7,403 ) Denominator Weighted average shares outstanding, basic 21,641 16,921 15,324 Net loss per share, basic $ (0.48 ) $ (0.39 ) $ (0.48 ) Weighted average shares outstanding, basic 21,641 16,921 15,324 Effect of dilutive warrants — 137 — Weighted average shares outstanding, diluted 21,641 17,058 15,324 Net loss per share, diluted $ (0.48 ) $ (0.46 ) $ (0.48 ) The following outstanding stock options and stock warrants were excluded from the diluted EPS computation as their effect would have been anti-dilutive: Year Ended December 31, 2019 2018 2017 (in thousands) Stock options 2,183 3,374 2,960 Stock warrants 8,588 — 544 10,771 3,374 3,504 Recent Accounting Pronouncements SEC Disclosure Regulation Simplifications During the fourth 2018 first 2019, No. 33 10532, No. 33 10618, December 31, 2018 2017 10 Leases In February 2016, 2016 02, Leases (Topic 842 12 2016 02 first 2019. not 1 2 3 not The adoption of the new leases standard resulted in the following adjustments to the consolidated balance sheet as of January 1, 2019 ( Prepaid expenses and other current assets (a) $ (49 ) Operating lease right-of-use assets 2,239 Other assets (b) (2 ) Other accrued liabilities (c) (101 ) Operating lease liability 1,063 Deferred rent (184 ) Operating lease liability - non-current 1,410 (a) Represents current portion of prepaid fleet leasing costs reclassified to operating lease right-of-use assets. (b) Represents noncurrent portion of prepaid fleet leasing costs reclassified to operating lease right-of-use assets. (c) Represents current portion of deferred rent and lease incentive liability reclassified to operating lease liability. The adoption of the new leases standard did not January 1, 2019, In July 2017, 2017 11, Earnings Per Share (Topic 260 480 ), Derivatives and Hedging (Topic 815 ): I. Accounting for Certain Financial Instruments with Down Round Features and II. Replacement of the Indefinite Deferral for Mandatorily Redeemable Financial Instruments of Certain Nonpublic Entities and Certain Mandatorily Redeemable Noncontrolling Interests with a Scope Exception. 480, Distinguishing Liabilities from Equity 480” not 2017 11 December 15, 2018, 2017 11 January 1, 2019. 2017 11, March 31, 2019 January 1, 2019 ( 11, In June 2018, 2018 07, Compensation—Stock Compensation (Topic 718 2018 07 2018 07 January 1, 2019, $2 In August 2018, 2018 13, Fair Value Measurement (Topic 820 2018 13 January 1, 2020 not In June 2016, 2016 13, Financial Instruments—Credit Losses (Topic 326 2016 13 2016 13 January 1, 2020. January 1, 2023. In December 2019, 2019 12, Income Taxes (Topic 740 2019 12 first 2021 |
Note 3 - Fair Value Measurement
Note 3 - Fair Value Measurements | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | NOTE 3. The Company follows ASC 820, Fair Value Measurements and Disclosures The Company's cash equivalents and investments are classified within Level 1 2 1 2 As of December 31, 2019, July 2011, March 2015, October 2015, June 2019 August 2019, July 2011, October 2015 August 2019 March 2015 June 2019 3 11, As a result of the call option and the put feature within the Convertible Note, the Company recorded a derivative liability on its consolidated balance sheet with a corresponding debt discount which is netted against the face value of the Convertible Note. The fair value of embedded derivative liability is classified within Level 3 10, The following table presents the Company's assets and liabilities measured at fair value on a recurring basis as of December 31, 2019: Fair Value Measurements Using Balance at Quoted Prices in Significant Significant December 31, Active Markets Other Unobservable (in thousands) 2019 for Identical Observable Inputs Items Inputs (Level 3) (Level 1) (Level 2) Assets Restricted cash held as a certificate of deposit $ 324 $ 324 $ — $ — Deposit held as a certificate of deposit 151 151 — — Total assets $ 475 $ 475 $ — $ — Liabilities Warrant liability $ 4,089 $ — $ — $ 4,089 Embedded derivative liability 3 — — 3 Total liabilities $ 4,092 $ — $ — $ 4,092 The following table presents the Company's assets and liabilities measured at fair value on a recurring basis as of December 31, 2018: Fair Value Measurements Using Balance at Quoted Prices in Significant Significant December 31, Active Markets Other Unobservable (in thousands) 2018 for Identical Observable Inputs Items Inputs (Level 3) (Level 1) (Level 2) Assets Cash equivalents $ 103 $ 103 $ — $ — Restricted cash held as a certificate of deposit 324 324 — — Deposit held as a certificate of deposit 151 151 — — Total assets $ 578 $ 578 $ — $ — Liabilities Warrant liability $ 178 $ — $ — $ 178 Total liabilities $ 178 $ — $ — $ 178 Upon adoption of ASU 2017 11, January 1, 2019, 210,586 no $56 334,109 July 2011 October 2015 January 1, 2019, 158,400 second 2019 102,602 third 2019, 73,107 July 2011 October 2015 December 31, 2019. For the year ended December 31, 2019, July 2011 October 2015 $88 $465 $553 August 2019, 7,066,508 7,066,508 two $5.3 December 31, 2019, $1.2 11, The following is a reconciliation of the beginning and ending balances for the liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3 December 31, 2019: (in thousands) 2019 Fair value of warrant liability at January 1, 2019 $ 178 Fair value of warrant liability reclassified to equity-Adoption of ASU 2017-11 (56 ) Fair value of July 2011 and October 2015 warrants transferred to equity upon exercise (553 ) Issuance of Domestic, Foreign and Ladenburg warrants 5,269 Decrease in fair value of Domestic, Foreign and Ladenburg warrant liability during the year ended December 31, 2019 (1,214 ) Increase in fair value of July 2011 and October 2015 warrant liability during the year ended December 31, 2019 465 Derivative liability embedded in Convertible Note issued in March 2019 427 Decrease in fair value of embedded derivative liability during the year ended December 31, 2019 (424 ) Fair value of warrant liability and embedded derivative liability at December 31, 2019 $ 4,092 For the year ended December 31, 2018, $1.3 3 December 31, 2018: (in thousands) 2018 Fair value of warrant liability at January 1, 2018 $ 1,489 Decrease in fair value during the year ended December 31, 2018 (1,311 ) Fair value of warrant liability at December 31, 2018 $ 178 |
Note 4 - Prepaid Expenses and O
Note 4 - Prepaid Expenses and Other Current Assets | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Prepaid Expenses and Other Current Assets [Text Block] | NOTE 4. Prepaid expenses and other current assets consisted of the following: (in thousands) December 31, December 31, 2019 2018 Prepaid sales rebates $ 401 $ 925 Rent receivable — 108 Prepaid rent — 130 Prepaid employees’ benefits 8 113 Prepaid dues and subscription 82 130 Prepaid insurance 94 57 Prepaid patents 85 79 Prepaid security deposit for lease 65 — Retainer 46 — Other 105 218 Total prepaid expenses and other current assets $ 886 $ 1,760 |
Note 5 - Inventory
Note 5 - Inventory | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Inventory Disclosure [Text Block] | NOTE 5. Inventory consisted of the following: (in thousands) December 31, December 31, 2019 2018 Raw materials and supplies $ 185 $ 217 Finished goods 554 167 Less: Reserve for excess and obsolete inventory (247 ) (104 ) Total inventory, net $ 492 $ 280 |
Note 6 - Property and Equipment
Note 6 - Property and Equipment | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | NOTE 6. Property and equipment consisted of the following: (in thousands) December 31, December 31, 2019 2018 Office and laboratory equipment $ 20 $ 24 Furniture and fixtures 157 157 Computer equipment and software 349 385 Production equipment 65 65 Leasehold improvements 79 79 Total property and equipment, at cost 670 710 Less: accumulated depreciation and amortization (560 ) (509 ) Total property and equipment, net $ 110 $ 201 Depreciation and amortization expense was $65 $266 $95 December 31, 2019, 2018 2017, In the quarter ended September 30, 2019, $32 December 31, 2019. In the quarter ended December 31, 2019, $3 December 31, 2019. |
Note 7 - Accrued Liabilities
Note 7 - Accrued Liabilities | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Accounts Payable and Accrued Liabilities Disclosure [Text Block] | NOTE 7. Accrued liabilities consisted of the following: (in thousands) December 31, December 31, 2019 2018 Employee payroll and benefits $ 463 $ 708 Avenova contract liabilities 822 2,282 Deferred rent — 101 Sublease security deposit 198 — Accrued interest on Convertible Note 13 — Consulting service 109 — Related party consulting service 33 — Other 140 164 Total accrued liabilities $ 1,778 $ 3,255 |
Note 8 - Commitments and Contin
Note 8 - Commitments and Contingencies | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | NOTE 8. Directors and Officers Indemnification As permitted under Delaware law and in accordance with its bylaws, the Company indemnifies its officers and directors for certain events or occurrences while the officer or director is or was serving at the Company’s request in such capacity. The term of the indemnification period is for the officer’s or director’s lifetime. The maximum amount of potential future indemnification is unlimited; however, the Company has a director and officer insurance policy that limits its exposure and may not December 31, 2019. In the normal course of business, the Company provides indemnification of varying scope under its agreements with other companies, typically its clinical research organizations, investigators, clinical sites, suppliers and others. Pursuant to these agreements, it generally indemnifies, holds harmless, and agrees to reimburse the indemnified parties for losses suffered or incurred by the indemnified parties in connection with the use or testing of its products or product candidates or with any U.S. patent or any copyright or other intellectual property infringement claims by any third not December 31, 2019. Legal Matters From time to time, the Company may July 29, 2019, $370,000 not December 31, 2019, no Leases The Company leases office space for its corporate headquarters, located in Emeryville, California. The initial lease term is through February 28, 2022. one five 5 October 31, 2020. no not In July 2016, September 8, 2016. October 21, 2020 no not In addition to the facility leases, the Company has leased 54 36 first 2017. first 2019, $125 December 31, 2019. fourth 2019, 15 December 31, 2019. Additionally, the Company had an operating lease for 2 August 2019. October 2019. October 2022. not In calculating the present value of the lease payments, the Company has elected to utilize its incremental borrowing rate based on the original lease term and not not not The components of lease costs, lease term and discount rate for the year ended December 31, 2019 Lease Costs Operating lease cost $ 1,130 Sublease income (632 ) Net lease cost $ 498 Other information Operational cash flow used for operating leases $ 1,285 Weighted-average remaining lease term (in years) 1.7 Weighted-average discount rate 12 % Operating lease expense was $505 $483 December 31, 2018 2017, 840. Future lease payments under non-cancelable leases as of December 31, 2019 2020 $ 1,047 2021 454 2022 88 Thereafter — Total future minimum lease payments 1,589 Less imputed interest (154 ) Total $ 1,435 Reported as: Operating lease liability $ 930 Operating lease liability- non-current 505 Total $ 1,435 Future lease payments to be received under non-cancelable leases as of December 31, 2019 2020 $ 577 2021 — 2022 — Thereafter — Total future minimum lease payments $ 577 |
Note 9 - Related Party Notes Pa
Note 9 - Related Party Notes Payable | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Related Party Notes Payable [Text Block] | NOTE 9. On February 27, 2019, $1.0 June 25, 2019 ( $300 $150 no July 1, 2020 ( June July 27, 2019). 2% one $100 $20 July 1, 2020. June 470, Debt no The interest expense recognized, including amortization of the issuance costs, was $222 December 31, 2019. The Promissory Note is presented as follows as of December 31, 2019: (in thousands) Principal amount $ 1,000 Unamortized debt issuance costs (2 ) Accrued interest 204 Total debt 1,202 Less: short-term 1,202 Long-term $ — |
Note 10 - Convertible Note
Note 10 - Convertible Note | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | NOTE 10. On March 26, 2019 ( $2.2 10% September 26, 2020, $2.0 $200 $15 $182 The Convertible Note provides the Lender with the right to convert, at any time, all or any part of the outstanding principal and accrued but unpaid interest into unregistered shares of the Company’s common stock at a conversion price of $1.65 September 26, 2019, $200 may $1.65 85% 20 may 115% The Company has reserved 3,200,000 Pursuant to a Security Agreement between the Company and the Lender, repayment of the Convertible Note is secured by all of the assets of the Company. The assets covered by the Security Agreement are currently first $1.0 The Convertible Note contains events of default upon the occurrence and during the continuance of which all obligations may 15%, The Company’s prepayment terms represent an embedded call option, the Lender’s share redemption terms represent an embedded put option and certain events of default represent embedded derivatives, each of which require bifurcation. A single derivative comprising all bifurcatable features was measured at fair value using a Monte Carlo simulation model. The key assumptions used to value the combined embedded derivative upon issuance at March 26, 2019 As of Assumption March 26, 2019 Stock price (latest bid price) $ 1.28 Equity volatility 93.8 % Risk-free interest rate 2.34 % Remaining term 1.5 The key assumptions used to value the combined embedded derivative as of December 31, 2019 As of Assumption December 31, 2019 Stock price $ 0.65 Equity volatility 192.6 % Risk-free interest rate 1.60 % Remaining term 0.74 The fair value of the combined embedded derivative was $3 December 31, 2019. December 31, 2019, $424 The aggregate $627 $197 December 31, 2019: (in thousands) Principal amount $ 1,563 Unamortized discount (117 ) Unamortized debt issuance costs (37 ) Total debt 1,409 Less: short-term 1,409 Long-term $ — The discount and debt issuance costs are being amortized to interest expense using the effective interest rate method over the term of the Convertible Note, assuming that the Convertible Note will be redeemed at the maximum $200 September 2019. December 31, 2019, 52.67%. $831 December 31, 2019. On August 8, 2019, “August 4,198,566 4,198,566 4,198,566 $1.00 August may $2.00. 12, August The Lender started redeeming $200 September 27, 2019. December 31, 2019, $800 $652 December 31, 2019, (in thousands) 2020 $ 1,563 2021 and thereafter — Total $ 1,563 |
Note 11 - Warrant Liability
Note 11 - Warrant Liability | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Other Liabilities Disclosure [Text Block] | NOTE 1 1 . WARRANT LIABILITY In July 2011, 139,520 $33.25 January 1, 2012 July 5, 2016. 480, Distinguishing Liabilities from Equity 480 January 5, 2012, $66.50 ten not fifteen one third In October 2015, March 3, 2015 ( "2015 twenty two March 3, 2016). October 2015 15 five 2015 "March 2015 June 29, 2011 ( "July 2011 March 2015 July 2011 $5.00 July 2011 March 6, 2020. July 2011 March 2015 $5.00 $5.00, In October 2015, 492,000 442,802 "October 2015 $5.00 "October 2015 60 October 2015 $5.00 $2.1 In February 2016, July 2011, March 2015 October 2015 $1.81 In May 2019, July 2011 March 2015 October 2015 $0.2061 The key assumptions used to value the July 2011 December 31, 2019 December 31, 2018 As of December 31, December 31, Assumption 2019 2018 Expected price volatility 115 % 77 % Expected term (in years) 0.18 1.18 Risk-free interest rate 1.52 % 2.60 % Dividend yield 0.00 % 0.00 % Weighted-average fair value of warrants $ 0.44 $ 0.29 In March 2015, $15.00 $16.25 not March 2015 July 2011 October 2015, March 2015 March 2015 October 27, 2015 $1.8 October 27, 2015 October 27, 2015. As described in Note 2, 2017 11, March 31, 2019 $56 $56 $356 January 1, 2019, $356 The key assumptions used to value the Short-Term Warrants as of December 31, 2018 As of December 31, Assumption 2018 Expected price volatility 77 % Expected term (in years) 1.18 Risk-free interest rate 2.60 % Dividend yield 0.00 % Weighted-average fair value of warrants $ 0.24 The key assumptions used to value the Long-Term Warrants as of December 31, 2018 As of December 31, Assumption 2018 Expected price volatility 77 % Expected term (in years) 1.18 Risk-free interest rate 2.60 % Dividend yield 0.00 % Weighted-average fair value of warrants $ 0.29 As noted above, the Company issued warrants in connection with the October 2015 October 2015 480, 480 October 27, 2015 $1.3 The key assumptions used to value the October 2015 December 31, 2019 December 31, 2018 As of December 31, December 31, Assumption 2019 2018 Expected price volatility 184 % 73 % Expected term (in years) 0.83 1.83 Risk-free interest rate 1.59 % 2.51 % Dividend yield 0.00 % 0.00 % Weighted-average fair value of warrants $ 0.49 $ 0.38 During the second 2017, 21,000 21,000 March 2015 $38 $58 $58 During the second 2019, 158,400 158,400 July 2011 October 2015 $33 $0.4 $0.4 During the third 2019, 102,602 102,602 October 2015 $21 $0.2 $0.2 In August 2019, 1 4,198,566 4,198,566 “2019 2 2,700,000 “2019 3 167,942 “2019 12, August 2019. The 2019 six February 13, 2025, $1.15. 2019 2019 480 2019 2019 August 13, 2019 $3.1 The key assumptions used to value the 2019 August 13, 2019 As of August 13, Assumption 2019 Expected price volatility 149.29 % Expected term (in years) 5.50 Risk-free interest rate 1.58 % Dividend yield 0.00 % Weighted-average fair value of warrants $ 0.75 The key assumptions used to value the 2019 December 31, 2019 As of December 31, Assumption 2019 Expected price volatility 154.10 % Expected term (in years) 5.13 Risk-free interest rate 1.70 % Dividend yield 0.00 % Weighted-average fair value of warrants $ 0.57 The 2019 August 8, 2024, $1.25. 2019 2019 480. 2019 August 13, 2019 $124 The key assumptions used to value the 2019 August 13, 2019 As of August 13, Assumption 2019 Expected price volatility 155.19 % Expected term (in years) 5.00 Risk-free interest rate 1.57 % Dividend yield 0.00 % Weighted-average fair value of warrants $ 0.74 The key assumptions used to value the 2019 December 31, 2019 As of December 31, Assumption 2019 Expected price volatility 159.94 % Expected term (in years) 4.61 Risk-free interest rate 1.69 % Dividend yield 0.00 % Weighted-average fair value of warrants $ 0.57 The 2019 October 9, 2019, February 13, 2025, $1.15. 2019 480. 2019 August 13, 2019 $2.0 The key assumptions used to value the 2019 August 13, 2019 As of August 13, Assumption 2019 Expected price volatility 149.29 % Expected term (in years) 5.50 Risk-free interest rate 1.58 % Dividend yield 0.00 % Weighted-average fair value of warrants $ 0.75 The key assumptions used to value the 2019 December 31, 2019 As of December 31, Assumption 2019 Expected price volatility 154.10 % Expected term (in years) 5.13 Risk-free interest rate 1.70 % Dividend yield 0.00 % Weighted-average fair value of warrants $ 0.57 The details of all outstanding warrant liability as of December 31, 2019 Warrant ( shares and dollars in thousands Shares Liability Warrant liability - current July 2011 Warrants 35 $ 15 October 2015 Warrants 38 19 73 $ 34 Warrant liability – non-current 2019 Domestic Warrants 4,199 $ 2,410 2019 Foreign Warrants 2,700 1,550 2019 Ladenburg Warrants 168 95 7,067 $ 4,055 |
Note 12 - Stockholders' Equity
Note 12 - Stockholders' Equity | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Stockholders' Equity Note Disclosure [Text Block] | NOTE 1 2 . STOCKHOLDERS' EQUITY Preferred Stock Under the Company’s amended articles of incorporation, the Company is authorized to issue up to 5,000,000 may December 31, 2019 December 31, 2018, no On August 8, 2019, 2,700,000 2,700,000 1:1, October 9, 2019, 2,700,000 2,700,000 The rights of the Series A Preferred Stock included the following: Conversion 2,700,000 1:1, October 9, 2019. not Anti-dilution Protection not Liquidation Preference Voting Rights no Dividend Rights not Redemption no not As the conversion trigger was dependent upon shareholder approval which is considered to be outside the control of the Company, the Series A Preferred Stock was considered to be contingently redeemable and as a result, was classified as mezzanine equity in the Company’s interim balance sheet as of September 30, 2019. October 2019, December 31, 2019. The Company applied the fair value allocation methodology for allocating the proceeds of $2.7 first $2.0 11, China Kington served as placement agent in exchange for a commission equal to six 6% $162 . $33 $93 $102 On October 9, 2019, 2,700,000 2,700,000 2,700,000 may 2,700,000 2019 713 $800 October 2019, December 31, 2019. Common Stock During the first 2018, 1,700,000 $0.01 $5.984 February 8, 2018. six 6% $359 $34 On March 29, 2019, $3.0 90% five March 29, 2019 3 April 1, 2019 April 12, 2019. 150,000 second 2019, 1,747,312 $0.01 $360 $122 September 5, 2019, $288 No $288 December 31, 2019 February 1, 2020. On June 26, 2019, 1,371,427 1,371,427 $2.4 three $1.0 $0.4 $1.0 six 6% $144,000. $27 On August 8, 2019, August 4,198,566 $1.00 August 4,198,566 4,198,566 $1.15. six 6% $252 2019 167,942 $1.25. $60 $312 August one six $2.00 10 may $2.00. 10, The Company applied the fair value allocation methodology for allocating the proceeds of $4.2 first $3.1 2019 11, In connection with the financing, the Company incurred issuance cost of $488 $233 $255 2019 $59 $65 Stock Warrants In February 2016, July 2011, March 2015, October 2015 $1.81 In May 2019, July 2011, March 2015, October 2015 $0.2061 As more fully described in Note 3, March 2015 2017 11. May 2019 $0.2061 $0.2061 1 March 2015 2 March 2015 820, Fair Value Measurements and Disclosures $29 July 2011 October 2015 During the second 2019, 158,400 158,400 October 2015 $33 11, During the second 2019, 133,167 133,167 March 2015 133,167 70,000 64,979 $13 In June 2019, 1,371,427 1,371,427 one 1 $0.87, $1.00 In July 2019, 102,602 102,602 October 2015 $21 11, In August 2019, 4,198,566 4,198,566 six February 13, 2025, $1.15. 167,942 167,942 August 8, 2024, $1.25. In August 2019, 2,700,000 2,700,000 February 13, 2025, $1.15. The following table summarizes information about the Company's warrants outstanding at December 31, 2019, 2018 2017, three Weighted- Warrants Average (in thousands) Exercise Price Outstanding at December 31, 2016 565 $ 1.81 Warrants granted - $ - Warrants exercised (21 ) $ 1.81 Warrants expired - $ - Outstanding at December 31, 2017 544 $ 1.81 Warrants granted - $ - Warrants exercised - $ - Warrants expired - $ - Outstanding at December 31, 2018 544 $ 1.81 Warrants granted 8,438 $ 1.11 Warrants exercised (394 ) $ 0.21 Warrants expired - $ - Outstanding at December 31, 2019 8,588 $ 1.09 |
Note 13 - Equity-based Compensa
Note 13 - Equity-based Compensation | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Share-based Payment Arrangement [Text Block] | NOTE 1 3 . EQUITY-BASED COMPENSATION Equity Compensation Plans In October 2007, 2007 “2007 2007 80,000 2007 For the years from 2009 2012, 2007 40,000 4% 40,000, 37,427, 37,207 2007 January 2012, 2011 2010, 2013, 40,000 2007 4% 32,646 59,157 2007 January 2014 2013, March 30, 2015, 82,461 2007 January 2016, 139,449 2007 2007 May 26, 2016, 2007 1,124,826 January 2017, 610,774 2007 2007 2007 2,318,486 March 15, 2017 ( 2007 Upon expiration of the 2007 2007 March 15, 2017 2007 may not 100% 10% not 110% 2007 no ten four In March 2017, 2017 “2017 June 2, 2017, 2017 not 2007 2017 2,318,486 first January 1, 2018 January 1, 2027 4% 4 2017 December 31, 2019, 1,789,174 2017 Under the terms of the 2017 may not 100% 10% not 110% not ten not five ten four 2007 2017 Stock Option Summary The following table summarizes information about the Company’s stock options and restricted stock outstanding at December 31, 2019, 2018 2017, three (in thousands, except years and per share data) Options Weighted- Average Exercise Price Weighted- Average Remaining Contractual Life (years) Aggregate Intrinsic Value Outstanding at December 31, 2016 1,489 $ 8.38 8.7 $ 702 Options granted 1,616 $ 3.03 Restricted stock units granted 49 $ — Options exercised (68 ) $ 2.72 Restricted stock units vested (39 ) $ — Options forfeited/cancelled (87 ) $ 22.08 Restricted stock units cancelled - $ — Outstanding at December 31, 2017 2,960 $ 5.16 8.6 $ 2,586 Options granted 1,118 $ 2.03 Restricted stock units granted 12 $ — Options exercised (4 ) $ 2.35 Restricted stock units vested - $ — Options forfeited/cancelled (701 ) $ 5.12 Restricted stock units cancelled (11 ) $ — Outstanding at December 31, 2018 3,374 $ 4.13 8.2 $ 8 Options granted 145 $ 0.37 Restricted stock units granted 204 $ — Options exercised (83 ) $ 2.30 Restricted stock units vested (209 ) $ — Options forfeited/cancelled (1,247 ) $ 4.01 Restricted stock units cancelled (1 ) $ — Outstanding at December 31, 2019 2,183 $ 4.03 6.6 $ 43 Vested and expected to vest at December 31, 2019 2,165 $ 4.05 6.5 $ 43 Vested at December 31, 2019 1,818 $ 4.44 6.2 $ — Exercisable at December 31, 2019 1,818 $ 4.44 6.2 $ — The aggregate intrinsic value is calculated as the difference between the exercise price of the underlying stock option awards and the closing market price of the Company’s common stock as quoted on the NYSE American as of December 31, 2019 83 December 31, 2019 $189 no December 31, 2019. 4 December 31, 2018 $11 no December 31, 2018. 68 December 31, 2017 $185 $116 December 31, 2017. As of December 31, 2019, $491 2.20 Stock Option Awards to Employees and Directors The Company grants options to purchase common stock to its employees and directors at prices equal to or greater than the market value of the stock on the dates the options are granted. The Company has estimated the value of stock option awards as of the date of grant by applying the Black-Scholes-Merton option pricing model using the single-option valuation approach. The application of this valuation model involves assumptions that are judgmental and subjective in nature. See Note 2, During the years ended December 31, 2019, 2018 2017, 145,000, 1,085,000, 1,529,000 The weighted-average assumptions used in determining the value of options are as follows: Year Ended December 31, Assumption 2019 2018 2017 Expected price volatility 112.41 % 89.30 % 87.78 % Expected term (in years) 6.14 5.98 6.90 Risk-free interest rate 1.99 % 2.80 % 2.12 % Dividend yield 0.00 % 0.00 % 0.00 % Weighted-average fair value of options granted during the period $ 0.31 $ 1.51 $ 2.34 Expected Price Volatility Expected Term Risk-Free Interest Rate Dividend Yield not Forfeitures are estimated at the time of grant and reduce compensation expense ratably over the vesting period. This estimate is adjusted periodically based on the extent to which actual forfeitures differ, or are expected to differ, from the previous estimate. As part of Mr. Mark Sieczarek’s separation agreement, in July 2019, 168 July 2019, July 2019. In addition, the Company granted restricted stock to employees totaling 12,000, 10,000 December 31, 2018 2017, For the years ended December 31, 2019, 2018 2017, $449 $671 $2,371 In July 2017, December 31, 2017. three three third 2017 December 31, 2017, third fourth 2017. $244 three September 30, 2017 $260 three December 31, 2017. In March 2018, March 21, 2018. three three $26 In April 2019, April 29, 2019. three three $14 $449 2019 In May 2019, May 1, 2019. three three $7 In July 2019, July 20, 2019. three three $60 In September 2019, September 11, 2019. three three $24 Stock-Based Awards to Non-Employee Consultants During the year ended December 31, 2019, not December 31, 2018 2017 33,000 86,000 Year Ended December 31, Assumption 2018 2017 Expected price volatility 85.03 % 87.41 % Expected term (in years) 10.0 10.0 Risk-free interest rate 2.94 % 2.27 % Dividend yield 0.00 % 0.00 % Weighted-average fair value of options granted during the period $ 1.99 $ 2.40 During the fourth December 31, 2019, two 36 The Company did not December 31, 2018. The Company granted 31 December 31, 2017, 8 December 31, 2017, For the years ended December 31, 2019, 2018 2017, $37 $0, $243 In November 2015, December 2016, 2016. December 31, 2015, December 2016. January 2017, Summary of Stock-Based Compensation Expense A summary of the stock-based compensation expense included in results of operations for the option and stock awards discussed above is as follows: Year Ended December 31, (in thousands) 2019 2018 2017 Research and development $ 42 $ 32 $ 113 Sales and marketing 93 141 152 General and administrative 351 498 2,277 Total stock-based compensation expense $ 486 $ 671 $ 2,542 Since the Company continues to operate at a net loss, it does not |
Note 14 - License, Collaboratio
Note 14 - License, Collaboration and Distribution Agreements | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
License, Collaboration, and Distribution Agreements [Text Block] | NOTE 14. Transactions under the Company's major distribution agreements are recognized upon transfer of control to its major distribution partners at the amount of consideration that the Company expects to be entitled to. The Company records contract liabilities for the invoiced amounts that are estimated to be subject to significant reversal, including product revenue allowances for cash consideration paid to customers for services, discounts, rebate programs, chargebacks, and product returns. Milestone payments are included in the estimated transaction price when they are considered probable of being achieved. For license and collaboration revenue, the transaction price under license and collaboration arrangements, including upfront fees and milestone payments, are allocated differently to each performance obligation and may The following table presents changes in the Company's contract assets and liabilities for the year ended December 31, 2019: Balance at Beginning of the Period Additions Deductions Balance at the end of the Period (in thousands) Contract liabilities: deferred revenue $ 41 $ - $ (41 ) $ - Contract liabilities: accrued liabilities 1,432 5,708 (6,706 ) 434 Total $ 1,473 $ 5,708 $ (6,747 ) $ 434 For the years ended December 31, 2019 2018, Year Ended December 31, 2019 2018 Revenue recognized in the period from: Amounts included in contract liabilities at the beginning of the year: Performance obligations satisfied $ 1,473 $ 1,453 New activities during the year: Performance obligations satisfied 5,126 11,055 $ 6,599 $ 12,508 License, Collaboration and Distribution Agreements In January 2012, $312,500. $312,500 January 2013, first December 31, 2014, $625,000 In September 2012, two 1 2 one one Pursuant to the terms of the Distribution Agreement, China Pioneer has the right to distribute NeutroPhase, upon a marketing approval from a Regulatory Authority, in certain territories in Asia (other than China). Upon execution of the Distribution Agreement, the Company received an upfront payment, which was recorded as deferred revenue. China Pioneer is also obligated to make certain additional payments to the Company upon receipt of the marketing approval. The Distribution Agreement further provides that China Pioneer is entitled to a cumulative purchase discount not $500,000 Pursuant to the Purchase Agreement, the Company also received $2.5 one one two 1 800,000 September 2012; 2 1,200,000 October 2012, $1.25 $3.5 $2.5 $1.0 $600,000 In December 2013, 11 On February 7, 2012, $750,000. In April 2013, 422 $250,000. On June 1, 2013, $200,000. Revenue has been recognized under these agreements as follows: Year Ended December 31, (in thousands) 2019 2018 2017 Amortization of upfront technology and access fees $ 41 $ 34 $ 103 Product revenue 209 169 1,956 Total revenue recognized $ 250 $ 203 $ 2,059 At December 31, 2018, $41 December 31, 2019, $41 not December 31, 2019. Avenova Distribution Agreements and Specialty Pharmacies In November 2014, January 2015, April 2015, Since the start of 2019 4 14, one one December 31, 2019, 2018 2017, 21%, 1% 0% During the years ended December 31, 2019, 2018 2017, $4.6 $11.0 $13.6 Under the Avenova product distribution arrangements, the Company had a contract liability balance of $0.4 $1.4 December 31, 2019 December 31, 2018, December 31, 2019 December 31, 2018 $0.4 $0.9 4, Avenova Direct In an effort to improve patient access, Avenova Direct was launched on June 1, 2019 20mL December 31, 2019, $1.0 |
Note 15 - Employee Benefit Plan
Note 15 - Employee Benefit Plan | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Pension and Other Postretirement Benefits Disclosure [Text Block] | NOTE 15 . EMPLOYEE BENEFIT PLAN We have a 401 not December 31, 2019 2018, $9 $14 |
Note 16 - Income Taxes
Note 16 - Income Taxes | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | NOTE 16 . INCOME TAXES Loss before provision for income taxes consisted of the following: Year Ending December 31, (in thousands) 2019 2018 2017 United States $ (9,652 ) $ (6,541 ) $ (7,400 ) International — — — $ (9,652 ) $ (6,541 ) $ (7,400 ) The federal and state income tax provision is summarized as follows (in thousands): Year Ending December (in thousands) 2019 2018 2017 Current Federal $ — $ — $ — State 6 4 3 Other — — — Total current tax expense 6 4 3 Deferred Federal — — — State — — — Other — — — Total deferred tax expense — — — Income tax provision $ 6 $ 4 $ 3 Deferred income taxes reflect the net tax effects of (a) temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes, and (b) operating losses and tax credit carryforwards. The tax effects of significant items comprising the Company's deferred taxes as of December 31, 2019 2018 December 31 (in thousands) 2019 2018 Deferred tax assets: Net operating losses $ 29,427 $ 26,790 Accruals 222 446 Deferred revenue — 10 Stock options 1,191 1,425 Other deferred tax assets 765 716 Property and equipment 6 9 Lease liability 301 — Total deferred tax assets 31,912 29,396 Deferred tax liabilities: Lease asset (301 ) — Total deferred tax liabilities (301 ) — Valuation allowance (31,611 ) (29,396 ) Net deferred taxes $ — $ — ASC 740 not." not $2.2 2019, $0.9 2018, $10.1 2017. Net operating loss and tax credit carryforwards as of December 31, 2019, Expiration Amount Years Net operating losses, federal (Post December 31, 2017) $ 16,151 Do Not Expire Net operating losses, federal (Pre January 1, 2018) $ 94,886 Beginning in 2024 Net operating losses, state $ 90,455 Beginning in 2028 Tax credits, federal $ 1,316 Beginning in 2026 Tax credits, state $ 325 Indefinite Under Section 382 1986, 50% three may A reconciliation of the beginning and ending balances of the unrecognized tax benefits during the below years are as follows (in thousands): Year ended December 31, (in thousands) 2019 2018 Unrecognized benefit - beginning of period $ 974 $ 931 Gross decreases - prior period tax positions — 43 Unrecognized benefit - end of period $ 974 $ 974 The entire amount of the unrecognized tax benefits would not not 12 not 2004 2019 2006 2019 not The effective tax rate of the Company's provision (benefit) for income taxes differs from the federal statutory rate as follows: Year Ending December 31, 2019 2018 2017 Statutory Rate 21.0 % 21.0 % 34.0 % State Tax 3.1 % (0.3 %) 0.2 % Stock Based Compensation Expense (3.7 %) (4.3 %) (2.1 %) Change in Valuation Allowance (23.0 %) (13.0 %) 141.7 % Other (0.3 %) (0.5 %) 0.7 % Warrant/equity expenses 1.7 % 4.2 % (0.5 %) Impact of 162m 1.1 % 1.3 % (4.6 %) Tax Reform - Tax Rate Change 0.0 % 0.0 % (169.5 %) Impact of ASC 606 0.0 % (8.5 %) 0.0 % Total (0.1 %) (0.1 %) (0.1 %) |
Note 17 - Related Party Transac
Note 17 - Related Party Transactions | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | NOTE 17 . RELATED PARTY TRANSACTIONS Related Party Financing See Note 9, February 27, 2019, June 25, 2019 12, June 2019 August 2019. Related Party Revenue The Company recognized related party revenues from product sales and license and collaboration fees of $250 $77 $27 December 31, 2019, 2018 2017, $176 $426 $102 December 31, 2019, 2018 2017, $0 $39 December 31, 2019 December 31, 2018, 14, second Related Party Expenses The Company recognized related party commission expense of $326 $359 $0 December 31, 2019, 2018 2017, $20 $144 $162 second third 2019, first second three June 26, 2019. third three August 8, 2019. December 31, 2019, $18 12, A fee of $50 first 2019 March 11, 2019. $83 December 31, 2019. $50 March 2020 9, The fees paid to China Kington during the year ended December 31, 2018 12, |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2019 | |
Accounting Policies [Abstract] | |
Basis of Accounting, Policy [Policy Text Block] | Basis of Presentation The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States ("U.S. GAAP") and are expressed in U.S. dollars. |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates The preparation of financial statements in accordance with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. These estimates include useful lives for property and equipment and related depreciation calculations, estimated amortization periods for payments received from product development and license agreements as they relate to revenue recognition, assumptions for valuing options and warrants, and income taxes. Actual results could differ from those estimates. |
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash and Cash Equivalents The Company considers all highly-liquid instruments with a stated maturity of three December 31, 2019, December 31, 2018, two The following table provides a reconciliation of the cash, cash equivalents, and restricted cash reported in the consolidated balance sheets that sum to the total of the same reported in the consolidated statements of cash flows: December 31, December 31, 2019 2018 Cash and cash equivalents $ 6,937 $ 3,183 Restricted cash included in Other assets 475 475 Total cash, cash equivalents, and restricted cash in the statements of cash flows $ 7,412 $ 3,658 The restricted cash amount included in Other assets on the consolidated balance sheets represent amounts held as certificates of deposit for long-term financing and lease arrangements as contractually required by our financial institution and landlord. |
Concentration Risk, Credit Risk, Policy [Policy Text Block] | Concentrations of Credit Risk, Major Partners and Customers, and Suppliers Financial instruments that potentially subject us to significant concentrations of credit risk consist primarily of cash and cash equivalents. The Company maintains deposits of cash and cash equivalents with a highly-rated, major financial institution in the United States. Deposits in this bank may not During the year ended December 31, 2019, three December 31, 2018 2017, three As of December 31, 2019, December 31, 2018 December 31, 2017, 10% Year Ended December 31, Major distribution or collaboration partner 2019 2018 2017 Distributer A 16 % 23 % 22 % Distributer B 17 % 26 % 23 % Distributer C 15 % 25 % 21 % Collaborator D * % * % 10 % Avenova Direct via Amazon 15 % — % — % *Not 10% As of December 31, 2019 December 31, 2018, 10% Year Ended December 31, Major distribution or collaboration partner 2019 2018 Distributer A 28 % 32 % Distributer B 13 % 31 % Distributer C 19 % 23 % Avenova Direct via Amazon 20 % — % The Company relies on two not third third may not |
Fair Value of Financial Instruments, Policy [Policy Text Block] | Fair Value of Financial Assets and Liabilities The Company’s financial instruments include cash and cash equivalents, accounts receivable, accounts payable and accrued liabilities, related party notes payable, a convertible note, and warrants. The fair value of cash and cash equivalents, accounts receivable, accounts payable and accrued liabilities, and related party notes payable is carried at cost, which management believes approximates fair value due to the short-term nature of these instruments. The Secured Convertible Promissory Note issued on March 26, 2019 ( The Company follows ASC 820, Fair Value Measurements and Disclosures three may Level 1 Level 2 Level 3 Categorization within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement. |
Receivables, Trade and Other Accounts Receivable, Allowance for Doubtful Accounts, Policy [Policy Text Block] | Allowance for Doubtful Accounts The Company charges bad debt expense and records an allowance for doubtful accounts when management believes it unlikely a specific invoice will be collected. Management identifies amounts due that are in dispute, and it believes are unlikely to be collected at the end of each reporting period. At December 31, 2019 December 31, 2018, $51 $10 120 |
Inventory, Policy [Policy Text Block] | Inventory Inventory is comprised of ( 1 2 3 December 31, 2019 2018, $247 $104 Inventory is stated at the lower of cost or estimated net realizable value determined by the first first |
Property, Plant and Equipment, Policy [Policy Text Block] | Property and Equipment Property and equipment are stated at cost, less accumulated depreciation and amortization. Depreciation is calculated using the straight-line method over the estimated useful lives of the related assets of five seven three seven seven The costs of normal maintenance, repairs, and minor replacements are charged to operations when incurred. |
Impairment or Disposal of Long-Lived Assets, Including Intangible Assets, Policy [Policy Text Block] | Impairment of Long-Lived Assets The Company accounts for long-lived assets and operating lease right-of-use assets in accordance with ASC 360, Property, Plant and Equipment may not first 2019, $125 December 31, 2019. 8, third 2019, $32 December 31, 2019. |
Lessee, Leases [Policy Text Block] | Leases In February 2016, 2016 02, Leases (Topic 842 January 1, 2019. not At the inception of an arrangement, the Company determines whether the arrangement is or contains a lease based on the unique facts and circumstances present. Operating lease liabilities and their corresponding right-of-use assets are recorded based on the present value of lease payments over the expected lease term. The interest rate implicit in lease contracts is typically not may The Company has elected to combine lease and non-lease components as a single component for all leases in which it is a lessee or a lessor. The lease expense is recognized over the expected term on a straight-line basis. Operating leases are recognized on the balance sheet as right-of-use assets, operating lease liabilities current and operating lease liabilities non-current. As a result, as of the effective date, the Company no |
Comprehensive Income, Policy [Policy Text Block] | Comprehensive Income (Loss) ASC 220, Comprehensive Income, |
Revenue from Contract with Customer [Policy Text Block] | Revenue Recognition The Company generates product revenue through product sales to its major distribution partners, a limited number of other distributors and via its webstore. Product supply is the only performance obligation contained in these arrangements, and the Company recognizes product revenue upon transfer of control to its major distribution partners at the amount of consideration that the Company expects to be entitled to, generally upon shipment to the distributor on a "sell-in" basis. Other revenue is primarily generated through commercial partner agreements with strategic partners for the development and commercialization of the Company's product candidates. The terms of the agreements typically include more than one In determining the appropriate amount of revenue to be recognized as it fulfills its obligations under its agreements, the Company performs the following steps: (i) identification of the promised goods or services in the contract; (ii) determination of whether the promised goods or services are performance obligations including whether they are distinct in the context of the contract; (iii) measurement of the transaction price, including the constraint on variable consideration; (iv) allocation of the transaction price to the performance obligations based on estimated selling prices; and (v) recognition of revenue when (or as) the Company satisfies each performance obligation. Performance Obligations A performance obligation is a promise in a contract to transfer a distinct good or service to the customer and is the unit of account in ASC Topic 606. ● Product supply ● Exclusive distribution rights in the product territory ● Regulatory submission and approval services ● Development services ● Sample supply ● Incremental discounts and product supply prepayments considered material rights to the customer The Company has optional additional items in contracts, which are considered marketing offers and are accounted for as separate contracts when the customer elects such options. Arrangements that include a promise for future commercial product supply and optional research and development services at the customer's or the Company's discretion are generally considered options. The Company assesses if these options provide a material right to the licensee and if so, such material rights are accounted for as separate performance obligations. Transaction Price The Company has both fixed and variable consideration. Under the Company's license arrangements, non-refundable upfront fees are considered fixed, while milestone payments are identified as variable consideration when determining the transaction price. Product supply selling prices are identified as variable consideration subject to the constraint on variable consideration for estimated discounts, rebates, chargebacks and product returns. Funding of research and development activities are considered variable payments until such costs are reimbursed, at which point they are considered fixed. The Company allocates the total transaction price to each performance obligation based on the relative estimated standalone selling prices of the promised goods or services for each performance obligation. For product supply under the Company's distribution arrangements, contract liabilities are recorded for invoiced amounts that are subject to significant reversal, including product revenue allowances for cash consideration paid to customers for services, discounts, rebate programs, chargebacks, and product returns. Because the Company does not not 30 one one At the inception of each arrangement that includes milestone payments, the Company evaluates whether the milestones are considered probable of being achieved and estimates the amount to be included in the transaction price using the most likely amount method. If it is probable that a significant revenue reversal would not not not For arrangements that include sales-based royalties and the license is deemed to be the predominant item to which the royalties relate, the Company recognizes revenue at the later of (a) when the related sales occur, or (b) when the performance obligation to which some or all of the royalty has been allocated has been satisfied (or partially satisfied). Allocation of Consideration As part of the accounting for arrangements that contain multiple performance obligations, the Company must develop assumptions that require judgment to determine the stand-alone selling price of each performance obligation identified in the contract. When a contract contains more than one Timing of Recognition Significant management judgment is required to determine the level of effort required under an arrangement and the period over which the Company expects to complete its performance obligations under the arrangement. If the Company cannot reasonably estimate when its performance obligations either are completed or become inconsequential, then revenue recognition is deferred until the Company can reasonably make such estimates. Revenue is then recognized over the remaining estimated period of performance using the cumulative catch-up method. Revenue is recognized for products at a point in time and for licenses of functional intellectual property at the point in time the customer can use and benefit from the license. For performance obligations that are services, revenue is recognized over time proportionate to the costs that the Company has incurred to perform the services using the cost-to-cost input method. The Company's intellectual property in the form of distribution rights are determined to be distinct from the other performance obligations identified in the arrangements and considered "right to use" licenses which the customer can benefit from at a point in time. The Company recognizes revenues from non-refundable, up-front fees allocated to the license when the license is transferred to the customer, and the customer can use and benefit from the license. |
Cost of Goods Sold, Policy [Policy Text Block] | Cost of Goods Sold Cost of goods sold includes third |
Research and Development Expense, Policy [Policy Text Block] | Research and Development Costs The Company charges research and development costs to expense as incurred. These costs include salaries and benefits for research and development personnel, costs associated with clinical trials managed by contract research organizations, and other costs associated with research, development and regulatory activities. Research and development costs may no may |
Patent Costs Policy [Policy Text Block] | Patent Costs Patent costs, including legal expenses, are expensed in the period in which they are incurred. Patent expenses are included in general and administrative expenses in the consolidated statements of operations and comprehensive loss. |
Share-based Payment Arrangement [Policy Text Block] | Stock-Based Compensation The Company’s stock-based compensation includes grants of stock options and RSUs to employees, consultants and non-employee directors. The expense associated with these programs is recognized in the Company’s consolidated statements of stockholders’ equity based on their fair values as they are earned under the applicable vesting terms or the length of an offering period. For stock options granted, the fair value of the stock options is estimated using a Black-Scholes-Merton option pricing model. See Note 13, |
Income Tax, Policy [Policy Text Block] | Income Taxes The Company accounts for income taxes under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. A valuation allowance is recognized if it is more likely than not not |
Warrant Liabilities [Policy Text Block] | Common Stock Warrant Liabilities The Company accounts for the issuance of common stock purchase warrants issued in connection with its equity offerings in accordance with the provisions of ASC 815, Derivatives and Hedging On January 1, 2019, 2017 11, Earnings Per Share (Topic 260 480 815 2017 11 no no 2017 11, $56 $56 December 31, 2019. $356 January 1, 2019, $356 11, |
Earnings Per Share, Policy [Policy Text Block] | Net Loss per Share The Company computes net loss per share by presenting both basic and diluted earnings (loss) per share ("EPS"). Basic EPS is computed by dividing net loss available to common shareholders by the weighted average number of common shares outstanding during the period. Diluted EPS gives effect to all dilutive potential common shares outstanding during the period, including stock options and warrants, using the treasury stock method. In computing diluted EPS, the average stock price for the period is used to determine the number of shares assumed to be purchased from the exercise of stock options or warrants. Potentially dilutive common share equivalents are excluded from the diluted EPS computation in net loss periods because their effect would be anti-dilutive. During the year ended December 31, 2019, $ 0.48 The following table sets forth the calculation of basic EPS and diluted EPS (in thousands, except per share amounts): Year Ended December 31, Numerator 2019 2018 2017 Net loss $ (9,658 ) $ (6,545 ) $ (7,403 ) Less: Preferred deemed dividend 800 — — Less: Retained earnings reduction related to warrants down round feature triggered 29 — — Net loss attributable to common stockholders, basic (10,487 ) (6,545 ) (7,403 ) Less gain on changes in fair value of warrant liability — 1,311 — Net loss attributable to common stockholders, diluted $ (10,487 ) $ (7,856 ) $ (7,403 ) Denominator Weighted average shares outstanding, basic 21,641 16,921 15,324 Net loss per share, basic $ (0.48 ) $ (0.39 ) $ (0.48 ) Weighted average shares outstanding, basic 21,641 16,921 15,324 Effect of dilutive warrants — 137 — Weighted average shares outstanding, diluted 21,641 17,058 15,324 Net loss per share, diluted $ (0.48 ) $ (0.46 ) $ (0.48 ) The following outstanding stock options and stock warrants were excluded from the diluted EPS computation as their effect would have been anti-dilutive: Year Ended December 31, 2019 2018 2017 (in thousands) Stock options 2,183 3,374 2,960 Stock warrants 8,588 — 544 10,771 3,374 3,504 |
New Accounting Pronouncements, Policy [Policy Text Block] | Recent Accounting Pronouncements SEC Disclosure Regulation Simplifications During the fourth 2018 first 2019, No. 33 10532, No. 33 10618, December 31, 2018 2017 10 Leases In February 2016, 2016 02, Leases (Topic 842 12 2016 02 first 2019. not 1 2 3 not The adoption of the new leases standard resulted in the following adjustments to the consolidated balance sheet as of January 1, 2019 ( Prepaid expenses and other current assets (a) $ (49 ) Operating lease right-of-use assets 2,239 Other assets (b) (2 ) Other accrued liabilities (c) (101 ) Operating lease liability 1,063 Deferred rent (184 ) Operating lease liability - non-current 1,410 (a) Represents current portion of prepaid fleet leasing costs reclassified to operating lease right-of-use assets. (b) Represents noncurrent portion of prepaid fleet leasing costs reclassified to operating lease right-of-use assets. (c) Represents current portion of deferred rent and lease incentive liability reclassified to operating lease liability. The adoption of the new leases standard did not January 1, 2019, In July 2017, 2017 11, Earnings Per Share (Topic 260 480 ), Derivatives and Hedging (Topic 815 ): I. Accounting for Certain Financial Instruments with Down Round Features and II. Replacement of the Indefinite Deferral for Mandatorily Redeemable Financial Instruments of Certain Nonpublic Entities and Certain Mandatorily Redeemable Noncontrolling Interests with a Scope Exception. 480, Distinguishing Liabilities from Equity 480” not 2017 11 December 15, 2018, 2017 11 January 1, 2019. 2017 11, March 31, 2019 January 1, 2019 ( 11, In June 2018, 2018 07, Compensation—Stock Compensation (Topic 718 2018 07 2018 07 January 1, 2019, $2 In August 2018, 2018 13, Fair Value Measurement (Topic 820 2018 13 January 1, 2020 not In June 2016, 2016 13, Financial Instruments—Credit Losses (Topic 326 2016 13 2016 13 January 1, 2020. January 1, 2023. In December 2019, 2019 12, Income Taxes (Topic 740 2019 12 first 2021 |
Note 2 - Summary of Significa_2
Note 2 - Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Schedule of Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents [Table Text Block] | December 31, December 31, 2019 2018 Cash and cash equivalents $ 6,937 $ 3,183 Restricted cash included in Other assets 475 475 Total cash, cash equivalents, and restricted cash in the statements of cash flows $ 7,412 $ 3,658 |
Schedules of Concentration of Risk, by Risk Factor [Table Text Block] | Year Ended December 31, Major distribution or collaboration partner 2019 2018 2017 Distributer A 16 % 23 % 22 % Distributer B 17 % 26 % 23 % Distributer C 15 % 25 % 21 % Collaborator D * % * % 10 % Avenova Direct via Amazon 15 % — % — % Year Ended December 31, Major distribution or collaboration partner 2019 2018 Distributer A 28 % 32 % Distributer B 13 % 31 % Distributer C 19 % 23 % Avenova Direct via Amazon 20 % — % |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Year Ended December 31, Numerator 2019 2018 2017 Net loss $ (9,658 ) $ (6,545 ) $ (7,403 ) Less: Preferred deemed dividend 800 — — Less: Retained earnings reduction related to warrants down round feature triggered 29 — — Net loss attributable to common stockholders, basic (10,487 ) (6,545 ) (7,403 ) Less gain on changes in fair value of warrant liability — 1,311 — Net loss attributable to common stockholders, diluted $ (10,487 ) $ (7,856 ) $ (7,403 ) Denominator Weighted average shares outstanding, basic 21,641 16,921 15,324 Net loss per share, basic $ (0.48 ) $ (0.39 ) $ (0.48 ) Weighted average shares outstanding, basic 21,641 16,921 15,324 Effect of dilutive warrants — 137 — Weighted average shares outstanding, diluted 21,641 17,058 15,324 Net loss per share, diluted $ (0.48 ) $ (0.46 ) $ (0.48 ) |
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block] | Year Ended December 31, 2019 2018 2017 (in thousands) Stock options 2,183 3,374 2,960 Stock warrants 8,588 — 544 10,771 3,374 3,504 |
Schedule of New Accounting Pronouncements and Changes in Accounting Principles [Table Text Block] | Prepaid expenses and other current assets (a) $ (49 ) Operating lease right-of-use assets 2,239 Other assets (b) (2 ) Other accrued liabilities (c) (101 ) Operating lease liability 1,063 Deferred rent (184 ) Operating lease liability - non-current 1,410 |
Note 3 - Fair Value Measureme_2
Note 3 - Fair Value Measurements (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Fair Value, Assets Measured on Recurring Basis [Table Text Block] | Fair Value Measurements Using Balance at Quoted Prices in Significant Significant December 31, Active Markets Other Unobservable (in thousands) 2019 for Identical Observable Inputs Items Inputs (Level 3) (Level 1) (Level 2) Assets Restricted cash held as a certificate of deposit $ 324 $ 324 $ — $ — Deposit held as a certificate of deposit 151 151 — — Total assets $ 475 $ 475 $ — $ — Liabilities Warrant liability $ 4,089 $ — $ — $ 4,089 Embedded derivative liability 3 — — 3 Total liabilities $ 4,092 $ — $ — $ 4,092 Fair Value Measurements Using Balance at Quoted Prices in Significant Significant December 31, Active Markets Other Unobservable (in thousands) 2018 for Identical Observable Inputs Items Inputs (Level 3) (Level 1) (Level 2) Assets Cash equivalents $ 103 $ 103 $ — $ — Restricted cash held as a certificate of deposit 324 324 — — Deposit held as a certificate of deposit 151 151 — — Total assets $ 578 $ 578 $ — $ — Liabilities Warrant liability $ 178 $ — $ — $ 178 Total liabilities $ 178 $ — $ — $ 178 |
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] | (in thousands) 2019 Fair value of warrant liability at January 1, 2019 $ 178 Fair value of warrant liability reclassified to equity-Adoption of ASU 2017-11 (56 ) Fair value of July 2011 and October 2015 warrants transferred to equity upon exercise (553 ) Issuance of Domestic, Foreign and Ladenburg warrants 5,269 Decrease in fair value of Domestic, Foreign and Ladenburg warrant liability during the year ended December 31, 2019 (1,214 ) Increase in fair value of July 2011 and October 2015 warrant liability during the year ended December 31, 2019 465 Derivative liability embedded in Convertible Note issued in March 2019 427 Decrease in fair value of embedded derivative liability during the year ended December 31, 2019 (424 ) Fair value of warrant liability and embedded derivative liability at December 31, 2019 $ 4,092 (in thousands) 2018 Fair value of warrant liability at January 1, 2018 $ 1,489 Decrease in fair value during the year ended December 31, 2018 (1,311 ) Fair value of warrant liability at December 31, 2018 $ 178 |
Note 4 - Prepaid Expenses and_2
Note 4 - Prepaid Expenses and Other Current Assets (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Table Text Block] | (in thousands) December 31, December 31, 2019 2018 Prepaid sales rebates $ 401 $ 925 Rent receivable — 108 Prepaid rent — 130 Prepaid employees’ benefits 8 113 Prepaid dues and subscription 82 130 Prepaid insurance 94 57 Prepaid patents 85 79 Prepaid security deposit for lease 65 — Retainer 46 — Other 105 218 Total prepaid expenses and other current assets $ 886 $ 1,760 |
Note 5 - Inventory (Tables)
Note 5 - Inventory (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Schedule of Inventory, Current [Table Text Block] | (in thousands) December 31, December 31, 2019 2018 Raw materials and supplies $ 185 $ 217 Finished goods 554 167 Less: Reserve for excess and obsolete inventory (247 ) (104 ) Total inventory, net $ 492 $ 280 |
Note 6 - Property and Equipme_2
Note 6 - Property and Equipment (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | (in thousands) December 31, December 31, 2019 2018 Office and laboratory equipment $ 20 $ 24 Furniture and fixtures 157 157 Computer equipment and software 349 385 Production equipment 65 65 Leasehold improvements 79 79 Total property and equipment, at cost 670 710 Less: accumulated depreciation and amortization (560 ) (509 ) Total property and equipment, net $ 110 $ 201 |
Note 7 - Accrued Liabilities (T
Note 7 - Accrued Liabilities (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Schedule of Accrued Liabilities [Table Text Block] | (in thousands) December 31, December 31, 2019 2018 Employee payroll and benefits $ 463 $ 708 Avenova contract liabilities 822 2,282 Deferred rent — 101 Sublease security deposit 198 — Accrued interest on Convertible Note 13 — Consulting service 109 — Related party consulting service 33 — Other 140 164 Total accrued liabilities $ 1,778 $ 3,255 |
Note 8 - Commitments and Cont_2
Note 8 - Commitments and Contingencies (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Lease, Cost [Table Text Block] | Lease Costs Operating lease cost $ 1,130 Sublease income (632 ) Net lease cost $ 498 Other information Operational cash flow used for operating leases $ 1,285 Weighted-average remaining lease term (in years) 1.7 Weighted-average discount rate 12 % |
Lessee, Operating Lease, Liability, Maturity [Table Text Block] | 2020 $ 1,047 2021 454 2022 88 Thereafter — Total future minimum lease payments 1,589 Less imputed interest (154 ) Total $ 1,435 Reported as: Operating lease liability $ 930 Operating lease liability- non-current 505 Total $ 1,435 |
Lessor, Operating Lease, Payments to be Received, Maturity [Table Text Block] | 2020 $ 577 2021 — 2022 — Thereafter — Total future minimum lease payments $ 577 |
Note 9 - Related Party Notes _2
Note 9 - Related Party Notes Payable (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Schedule of Related Party Transactions [Table Text Block] | (in thousands) Principal amount $ 1,000 Unamortized debt issuance costs (2 ) Accrued interest 204 Total debt 1,202 Less: short-term 1,202 Long-term $ — |
Note 10 - Convertible Note (Tab
Note 10 - Convertible Note (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Fair Value Measurement Inputs and Valuation Techniques [Table Text Block] | As of Assumption March 26, 2019 Stock price (latest bid price) $ 1.28 Equity volatility 93.8 % Risk-free interest rate 2.34 % Remaining term 1.5 As of Assumption December 31, 2019 Stock price $ 0.65 Equity volatility 192.6 % Risk-free interest rate 1.60 % Remaining term 0.74 |
Convertible Debt [Table Text Block] | (in thousands) Principal amount $ 1,563 Unamortized discount (117 ) Unamortized debt issuance costs (37 ) Total debt 1,409 Less: short-term 1,409 Long-term $ — |
Schedule of Maturities of Long-term Debt [Table Text Block] | (in thousands) 2020 $ 1,563 2021 and thereafter — Total $ 1,563 |
Note 11 - Warrant Liability (Ta
Note 11 - Warrant Liability (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Schedule of Derivative Instruments [Table Text Block] | As of December 31, December 31, Assumption 2019 2018 Expected price volatility 115 % 77 % Expected term (in years) 0.18 1.18 Risk-free interest rate 1.52 % 2.60 % Dividend yield 0.00 % 0.00 % Weighted-average fair value of warrants $ 0.44 $ 0.29 As of December 31, Assumption 2018 Expected price volatility 77 % Expected term (in years) 1.18 Risk-free interest rate 2.60 % Dividend yield 0.00 % Weighted-average fair value of warrants $ 0.24 As of December 31, Assumption 2018 Expected price volatility 77 % Expected term (in years) 1.18 Risk-free interest rate 2.60 % Dividend yield 0.00 % Weighted-average fair value of warrants $ 0.29 As of December 31, December 31, Assumption 2019 2018 Expected price volatility 184 % 73 % Expected term (in years) 0.83 1.83 Risk-free interest rate 1.59 % 2.51 % Dividend yield 0.00 % 0.00 % Weighted-average fair value of warrants $ 0.49 $ 0.38 As of August 13, Assumption 2019 Expected price volatility 149.29 % Expected term (in years) 5.50 Risk-free interest rate 1.58 % Dividend yield 0.00 % Weighted-average fair value of warrants $ 0.75 As of December 31, Assumption 2019 Expected price volatility 154.10 % Expected term (in years) 5.13 Risk-free interest rate 1.70 % Dividend yield 0.00 % Weighted-average fair value of warrants $ 0.57 As of August 13, Assumption 2019 Expected price volatility 155.19 % Expected term (in years) 5.00 Risk-free interest rate 1.57 % Dividend yield 0.00 % Weighted-average fair value of warrants $ 0.74 As of December 31, Assumption 2019 Expected price volatility 159.94 % Expected term (in years) 4.61 Risk-free interest rate 1.69 % Dividend yield 0.00 % Weighted-average fair value of warrants $ 0.57 As of August 13, Assumption 2019 Expected price volatility 149.29 % Expected term (in years) 5.50 Risk-free interest rate 1.58 % Dividend yield 0.00 % Weighted-average fair value of warrants $ 0.75 As of December 31, Assumption 2019 Expected price volatility 154.10 % Expected term (in years) 5.13 Risk-free interest rate 1.70 % Dividend yield 0.00 % Weighted-average fair value of warrants $ 0.57 |
Class of Warrant or Right [Table Text Block] | Warrant ( shares and dollars in thousands Shares Liability Warrant liability - current July 2011 Warrants 35 $ 15 October 2015 Warrants 38 19 73 $ 34 Warrant liability – non-current 2019 Domestic Warrants 4,199 $ 2,410 2019 Foreign Warrants 2,700 1,550 2019 Ladenburg Warrants 168 95 7,067 $ 4,055 |
Note 12 - Stockholders' Equity
Note 12 - Stockholders' Equity (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block] | Weighted- Warrants Average (in thousands) Exercise Price Outstanding at December 31, 2016 565 $ 1.81 Warrants granted - $ - Warrants exercised (21 ) $ 1.81 Warrants expired - $ - Outstanding at December 31, 2017 544 $ 1.81 Warrants granted - $ - Warrants exercised - $ - Warrants expired - $ - Outstanding at December 31, 2018 544 $ 1.81 Warrants granted 8,438 $ 1.11 Warrants exercised (394 ) $ 0.21 Warrants expired - $ - Outstanding at December 31, 2019 8,588 $ 1.09 |
Note 13 - Equity-based Compen_2
Note 13 - Equity-based Compensation (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Share-based Payment Arrangement, Option, Activity [Table Text Block] | (in thousands, except years and per share data) Options Weighted- Average Exercise Price Weighted- Average Remaining Contractual Life (years) Aggregate Intrinsic Value Outstanding at December 31, 2016 1,489 $ 8.38 8.7 $ 702 Options granted 1,616 $ 3.03 Restricted stock units granted 49 $ — Options exercised (68 ) $ 2.72 Restricted stock units vested (39 ) $ — Options forfeited/cancelled (87 ) $ 22.08 Restricted stock units cancelled - $ — Outstanding at December 31, 2017 2,960 $ 5.16 8.6 $ 2,586 Options granted 1,118 $ 2.03 Restricted stock units granted 12 $ — Options exercised (4 ) $ 2.35 Restricted stock units vested - $ — Options forfeited/cancelled (701 ) $ 5.12 Restricted stock units cancelled (11 ) $ — Outstanding at December 31, 2018 3,374 $ 4.13 8.2 $ 8 Options granted 145 $ 0.37 Restricted stock units granted 204 $ — Options exercised (83 ) $ 2.30 Restricted stock units vested (209 ) $ — Options forfeited/cancelled (1,247 ) $ 4.01 Restricted stock units cancelled (1 ) $ — Outstanding at December 31, 2019 2,183 $ 4.03 6.6 $ 43 Vested and expected to vest at December 31, 2019 2,165 $ 4.05 6.5 $ 43 Vested at December 31, 2019 1,818 $ 4.44 6.2 $ — Exercisable at December 31, 2019 1,818 $ 4.44 6.2 $ — |
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Table Text Block] | Year Ended December 31, (in thousands) 2019 2018 2017 Research and development $ 42 $ 32 $ 113 Sales and marketing 93 141 152 General and administrative 351 498 2,277 Total stock-based compensation expense $ 486 $ 671 $ 2,542 |
Nonemployees [Member] | |
Notes Tables | |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | Year Ended December 31, Assumption 2018 2017 Expected price volatility 85.03 % 87.41 % Expected term (in years) 10.0 10.0 Risk-free interest rate 2.94 % 2.27 % Dividend yield 0.00 % 0.00 % Weighted-average fair value of options granted during the period $ 1.99 $ 2.40 |
Employees and Directors [Member] | |
Notes Tables | |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | Year Ended December 31, Assumption 2019 2018 2017 Expected price volatility 112.41 % 89.30 % 87.78 % Expected term (in years) 6.14 5.98 6.90 Risk-free interest rate 1.99 % 2.80 % 2.12 % Dividend yield 0.00 % 0.00 % 0.00 % Weighted-average fair value of options granted during the period $ 0.31 $ 1.51 $ 2.34 |
Note 14 - License, Collaborat_2
Note 14 - License, Collaboration and Distribution Agreements (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Contract with Customer, Asset and Liability [Table Text Block] | Balance at Beginning of the Period Additions Deductions Balance at the end of the Period (in thousands) Contract liabilities: deferred revenue $ 41 $ - $ (41 ) $ - Contract liabilities: accrued liabilities 1,432 5,708 (6,706 ) 434 Total $ 1,473 $ 5,708 $ (6,747 ) $ 434 |
Disaggregation of Revenue [Table Text Block] | Year Ended December 31, 2019 2018 Revenue recognized in the period from: Amounts included in contract liabilities at the beginning of the year: Performance obligations satisfied $ 1,473 $ 1,453 New activities during the year: Performance obligations satisfied 5,126 11,055 $ 6,599 $ 12,508 |
Schedule of Revenue Recognized [Table Text Block] | Year Ended December 31, (in thousands) 2019 2018 2017 Amortization of upfront technology and access fees $ 41 $ 34 $ 103 Product revenue 209 169 1,956 Total revenue recognized $ 250 $ 203 $ 2,059 |
Note 16 - Income Taxes (Tables)
Note 16 - Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block] | Year Ending December 31, (in thousands) 2019 2018 2017 United States $ (9,652 ) $ (6,541 ) $ (7,400 ) International — — — $ (9,652 ) $ (6,541 ) $ (7,400 ) |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | Year Ending December (in thousands) 2019 2018 2017 Current Federal $ — $ — $ — State 6 4 3 Other — — — Total current tax expense 6 4 3 Deferred Federal — — — State — — — Other — — — Total deferred tax expense — — — Income tax provision $ 6 $ 4 $ 3 |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | December 31 (in thousands) 2019 2018 Deferred tax assets: Net operating losses $ 29,427 $ 26,790 Accruals 222 446 Deferred revenue — 10 Stock options 1,191 1,425 Other deferred tax assets 765 716 Property and equipment 6 9 Lease liability 301 — Total deferred tax assets 31,912 29,396 Deferred tax liabilities: Lease asset (301 ) — Total deferred tax liabilities (301 ) — Valuation allowance (31,611 ) (29,396 ) Net deferred taxes $ — $ — |
Summary of Operating Loss Carryforwards and Tax Credit Carryforwards [Table Text Block] | Expiration Amount Years Net operating losses, federal (Post December 31, 2017) $ 16,151 Do Not Expire Net operating losses, federal (Pre January 1, 2018) $ 94,886 Beginning in 2024 Net operating losses, state $ 90,455 Beginning in 2028 Tax credits, federal $ 1,316 Beginning in 2026 Tax credits, state $ 325 Indefinite |
Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block] | Year ended December 31, (in thousands) 2019 2018 Unrecognized benefit - beginning of period $ 974 $ 931 Gross decreases - prior period tax positions — 43 Unrecognized benefit - end of period $ 974 $ 974 |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | Year Ending December 31, 2019 2018 2017 Statutory Rate 21.0 % 21.0 % 34.0 % State Tax 3.1 % (0.3 %) 0.2 % Stock Based Compensation Expense (3.7 %) (4.3 %) (2.1 %) Change in Valuation Allowance (23.0 %) (13.0 %) 141.7 % Other (0.3 %) (0.5 %) 0.7 % Warrant/equity expenses 1.7 % 4.2 % (0.5 %) Impact of 162m 1.1 % 1.3 % (4.6 %) Tax Reform - Tax Rate Change 0.0 % 0.0 % (169.5 %) Impact of ASC 606 0.0 % (8.5 %) 0.0 % Total (0.1 %) (0.1 %) (0.1 %) |
Note 1 - Organization (Details
Note 1 - Organization (Details Textual) | Dec. 18, 2015 | Dec. 31, 2019 |
Number of Operating Segments | 4 | |
Reverse Stock Split [Member] | ||
Stockholders' Equity Note, Stock Split, Conversion Ratio | 25 |
Note 2 - Summary of Significa_3
Note 2 - Summary of Significant Accounting Policies (Details Textual) $ / shares in Units, $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||||
Sep. 30, 2019USD ($) | Mar. 31, 2019USD ($) | Sep. 30, 2019USD ($) | Dec. 31, 2019USD ($)$ / shares | Dec. 31, 2018USD ($)$ / shares | Dec. 31, 2017USD ($)$ / shares | Jan. 01, 2019USD ($) | |
Number of Major Distributors | 3 | ||||||
Accounts Receivable, Allowance for Credit Loss, Ending Balance | $ 51 | $ 10 | |||||
Allowance for Doubtful Accounts, Past Due Period Threshold | 120 days | ||||||
Inventory Valuation Reserves, Ending Balance | $ 247 | 104 | |||||
Operating Lease, Impairment Loss | $ 125 | $ 125 | |||||
Payment for Product Supply Period | 30 days | ||||||
Additional Paid in Capital, Ending Balance | $ 125,718 | $ 119,764 | |||||
Earnings Per Share, Basic, Total | $ / shares | $ (0.48) | $ (0.39) | $ (0.48) | ||||
Earnings Per Share, Diluted, Total | $ / shares | $ (0.48) | $ (0.46) | $ (0.48) | ||||
Accounting Standards Update 2017-11 [Member] | |||||||
Additional Paid in Capital, Ending Balance | 56 | $ 56 | $ 356 | ||||
Warrants and Rights Outstanding | $ (56) | $ (56) | (56) | ||||
Accounting Standards Update 2017-11 [Member] | Retained Earnings [Member] | |||||||
Cumulative Effect of New Accounting Principle in Period of Adoption | $ (356) | ||||||
Accounting Standards Update 2018-07 [Member] | |||||||
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification | $ 2 | ||||||
Equipment [Member] | Minimum [Member] | |||||||
Property, Plant and Equipment, Useful Life | 5 years | ||||||
Equipment [Member] | Maximum [Member] | |||||||
Property, Plant and Equipment, Useful Life | 7 years | ||||||
Computer Equipment and Software [Member] | |||||||
Property, Plant and Equipment, Useful Life | 3 years | ||||||
Furniture and Fixtures [Member] | |||||||
Property, Plant and Equipment, Useful Life | 7 years | ||||||
Leasehold Improvements [Member] | Maximum [Member] | |||||||
Property, Plant and Equipment, Useful Life | 7 years | ||||||
Software and Software Development Costs [Member] | |||||||
Impairment of Long-Lived Assets Held-for-use | $ 32 |
Note 2 - Summary of Significa_4
Note 2 - Summary of Significant Accounting Policies - Components of Cash, Cash Equivalents, and Restricted Cash (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Cash and cash equivalents | $ 6,937 | $ 3,183 | ||
Restricted cash included in Other assets | 475 | 475 | ||
Total cash, cash equivalents, and restricted cash in the statements of cash flows | $ 7,412 | $ 3,658 | $ 3,673 | $ 9,986 |
Note 2 - Summary of Significa_5
Note 2 - Summary of Significant Accounting Policies - Revenues and Accounts Receivable From Major Distribution Partners and Customers (Details) - Customer Concentration Risk [Member] | 12 Months Ended | ||||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |||
Revenue from Contract with Customer Benchmark [Member] | Distributor A [Member] | |||||
Distribution or collaboration partners | 16.00% | 23.00% | 22.00% | ||
Revenue from Contract with Customer Benchmark [Member] | Distributor B [Member] | |||||
Distribution or collaboration partners | 17.00% | 26.00% | 23.00% | ||
Revenue from Contract with Customer Benchmark [Member] | Distributor C [Member] | |||||
Distribution or collaboration partners | 15.00% | 25.00% | 21.00% | ||
Revenue from Contract with Customer Benchmark [Member] | Distributor D [Member] | |||||
Distribution or collaboration partners | [1] | [1] | 10.00% | ||
Revenue from Contract with Customer Benchmark [Member] | Avenova Direct [Member] | |||||
Distribution or collaboration partners | 15.00% | ||||
Accounts Receivable [Member] | Distributor A [Member] | |||||
Distribution or collaboration partners | 28.00% | 32.00% | |||
Accounts Receivable [Member] | Distributor B [Member] | |||||
Distribution or collaboration partners | 13.00% | 31.00% | |||
Accounts Receivable [Member] | Distributor C [Member] | |||||
Distribution or collaboration partners | 19.00% | 23.00% | |||
Accounts Receivable [Member] | Avenova Direct [Member] | |||||
Distribution or collaboration partners | 20.00% | ||||
[1] | Not greater than 10% |
Note 2 - Summary of Significa_6
Note 2 - Summary of Significant Accounting Policies - Calculation of Basic and Diluted EPS (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Net loss | $ (9,658) | $ (6,545) | $ (7,403) |
Less: Preferred deemed dividend | (800) | ||
Warrant, Down Round Feature, (Increase) Decrease in Equity, Amount | 29 | ||
Net loss attributable to common stockholders | (10,487) | (6,545) | (7,403) |
Less gain on changes in fair value of warrant liability | (1,311) | ||
Net loss attributable to common stockholders, diluted | $ (10,487) | $ (7,856) | $ (7,403) |
Weighted average shares outstanding, basic (in shares) | 21,641 | 16,921 | 15,324 |
Net loss per share, basic (in dollars per share) | $ (0.48) | $ (0.39) | $ (0.48) |
Effect of dilutive warrants (in shares) | 137 | ||
Weighted average shares outstanding, diluted (in shares) | 21,641 | 17,058 | 15,324 |
Net loss per share, diluted (in dollars per share) | $ (0.48) | $ (0.46) | $ (0.48) |
Note 2 - Summary of Significa_7
Note 2 - Summary of Significant Accounting Policies - Outstanding Stock Options and Stock Warrants Excluded From the Diluted Net Loss Per Share Computation (Details) - shares shares in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Anti-dilutive securities (in shares) | 10,771 | 3,374 | 3,504 |
Share-based Payment Arrangement, Option [Member] | |||
Anti-dilutive securities (in shares) | 2,183 | 3,374 | 2,960 |
Warrant [Member] | |||
Anti-dilutive securities (in shares) | 8,588 | 544 |
Note 2 - Summary of Significa_8
Note 2 - Summary of Significant Accounting Policies - Impact of New Standard on Consolidated Balance Sheet (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Jan. 01, 2019 | Dec. 31, 2018 | |
Prepaid expenses and other current assets (a) | $ 886 | $ 1,760 | ||
Operating lease right-of-use assets | 1,252 | |||
Other assets (b) | 477 | 552 | ||
Other accrued liabilities (c) | 140 | 164 | ||
Operating lease liability | 930 | |||
Deferred rent | 184 | |||
Operating lease liability - non-current | $ 505 | |||
Accounting Standards Update 2016-02 [Member] | ||||
Prepaid expenses and other current assets (a) | [1] | $ (49) | ||
Operating lease right-of-use assets | 2,239 | |||
Other assets (b) | [2] | (2) | ||
Other accrued liabilities (c) | [3] | (101) | ||
Operating lease liability | 1,063 | |||
Deferred rent | (184) | |||
Operating lease liability - non-current | $ 1,410 | |||
[1] | Represents current portion of prepaid fleet leasing costs reclassified to Operating lease right-of-use assets. | |||
[2] | Represents noncurrent portion of prepaid fleet leasing costs reclassified to Operating lease right-of-use assets. | |||
[3] | Represents current portion of deferred rent and lease incentive liability reclassified to Operating lease liability. |
Note 3 - Fair Value Measureme_3
Note 3 - Fair Value Measurements (Details Textual) - USD ($) $ in Thousands | 1 Months Ended | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||||||
Aug. 31, 2019 | Jul. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Sep. 30, 2019 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Mar. 31, 2019 | Jan. 01, 2019 | Dec. 31, 2016 | |
Class of Warrant or Right, Outstanding | 8,588,000 | 544,000 | 544,000 | 565,000 | |||||||
Class of Warrant or Right, Exercised During Period | 394,000 | 21,000 | |||||||||
Fair Value Adjustment of Warrants | $ (749) | $ (1,311) | $ 101 | ||||||||
Reclassification of Warrant Liability to Equity | $ 56 | ||||||||||
Class of Warrant or Right, Issued During Period | 8,438,000 | ||||||||||
July 2011 and October 2015 Warrants [Member] | |||||||||||
Warrants and Rights Outstanding | $ 200 | $ 400 | $ 200 | ||||||||
Class of Warrant or Right, Outstanding | 73,107 | 334,109 | |||||||||
Class of Warrant or Right, Exercised During Period | 102,602 | 102,602 | 158,400 | ||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 102,602 | 102,602 | 158,400 | 102,602 | |||||||
Warrants Reclassified Upon Adoption of ASU 2017-11 [Member] | |||||||||||
Warrants and Rights Outstanding, Change in Fair Value | $ (88) | ||||||||||
Fair Value Adjustment of Warrants | (465) | ||||||||||
Reclassification of Warrant Liability to Equity | $ 553 | ||||||||||
The August 2019 Warrants [Member] | |||||||||||
Warrants and Rights Outstanding | $ 5,300 | ||||||||||
Fair Value Adjustment of Warrants | (1,200) | ||||||||||
Class of Warrant or Right, Issued During Period | 7,066,508 | ||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 7,066,508 | ||||||||||
Accounting Standards Update 2017-11 [Member] | |||||||||||
Warrants and Rights, Reclassified to Equity | 210,586 | ||||||||||
Warrants and Rights Outstanding | $ (56) | $ (56) | $ (56) |
Note 3 - Fair Value Measureme_4
Note 3 - Fair Value Measurements - Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - USD ($) | Dec. 31, 2019 | Dec. 31, 2018 |
Embedded derivative liability | $ 3,000 | |
Fair Value, Recurring [Member] | ||
Restricted cash held as a certificate of deposit | 324,000 | $ 324,000 |
Deposit held as a certificate of deposit | 151,000 | 151,000 |
Total assets | 475,000 | 578,000 |
Warrant liability | 4,089,000 | 178,000 |
Embedded derivative liability | 3,000 | |
Total liabilities | 4,092,000 | 178,000 |
Cash equivalents | 103,000 | |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Restricted cash held as a certificate of deposit | 324,000 | 324,000 |
Deposit held as a certificate of deposit | 151,000 | 151,000 |
Total assets | 475,000 | 578,000 |
Warrant liability | ||
Embedded derivative liability | ||
Total liabilities | ||
Cash equivalents | 103,000 | |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Restricted cash held as a certificate of deposit | ||
Deposit held as a certificate of deposit | ||
Total assets | ||
Warrant liability | ||
Embedded derivative liability | ||
Total liabilities | ||
Cash equivalents | ||
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Restricted cash held as a certificate of deposit | ||
Deposit held as a certificate of deposit | ||
Total assets | ||
Warrant liability | 4,089,000 | 178,000 |
Embedded derivative liability | 3,000 | |
Total liabilities | $ 4,092,000 | 178,000 |
Cash equivalents |
Note 3 - Fair Value Measureme_5
Note 3 - Fair Value Measurements - Fair Value of Warrant Liability (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Warrant Liability [Member] | ||
Balance | $ 178 | $ 1,489 |
Fair value of warrant liability reclassified to equity-Adoption of ASU 2017-11 | (56) | |
Increase (decrease) in fair value of liability during the year ended December 31, 2019 | 1,311 | |
Balance | 178 | |
Decrease in fair value during the year ended December 31, 2018 | $ (1,311) | |
Warrant Liability [Member] | July 2011 and October 2015 Warrants [Member] | ||
Fair value of warrant liability reclassified to equity-Adoption of ASU 2017-11 | (553) | |
Increase (decrease) in fair value of liability during the year ended December 31, 2019 | 465 | |
Decrease in fair value during the year ended December 31, 2018 | (465) | |
Warrant Liability [Member] | Domestic, Foreign, and Ladenburg Warrants [Member] | ||
Issuance of liability | 5,269 | |
Increase (decrease) in fair value of liability during the year ended December 31, 2019 | (1,214) | |
Decrease in fair value during the year ended December 31, 2018 | 1,214 | |
Embedded Derivative Liability [Member] | ||
Issuance of liability | 427 | |
Increase (decrease) in fair value of liability during the year ended December 31, 2019 | (424) | |
Decrease in fair value during the year ended December 31, 2018 | 424 | |
Warrant Liability and Embedded Derivative Liability [Member] | ||
Balance | $ 4,092 |
Note 4 - Prepaid Expenses and_3
Note 4 - Prepaid Expenses and Other Current Assets - Summary of Prepaid Expenses and Other Current Assets (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Prepaid sales rebates | $ 401 | $ 925 |
Rent receivable | 108 | |
Prepaid rent | 130 | |
Prepaid employees’ benefits | 8 | 113 |
Prepaid dues and subscription | 82 | 130 |
Prepaid insurance | 94 | 57 |
Prepaid patents | 85 | 79 |
Prepaid security deposit for lease | 65 | |
Retainer | 46 | |
Other | 105 | 218 |
Total prepaid expenses and other current assets | $ 886 | $ 1,760 |
Note 5 - Inventory - Summary of
Note 5 - Inventory - Summary of Inventory (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Raw materials and supplies | $ 185 | $ 217 |
Finished goods | 554 | 167 |
Less: Reserve for excess and obsolete inventory | (247) | (104) |
Total inventory, net | $ 492 | $ 280 |
Note 6 - Property and Equipme_3
Note 6 - Property and Equipment (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||
Dec. 31, 2019 | Sep. 30, 2019 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Depreciation, Depletion and Amortization, Total | $ 65 | $ 266 | $ 95 | ||
Gain (Loss) on Disposition of Property Plant Equipment, Excluding Oil and Gas Property and Timber Property | $ (3) | $ (1) | |||
General and Administrative Expense [Member] | |||||
Gain (Loss) on Disposition of Property Plant Equipment, Excluding Oil and Gas Property and Timber Property | $ 3 | ||||
Software and Software Development Costs [Member] | |||||
Impairment of Long-Lived Assets Held-for-use | $ 32 |
Note 6 - Property and Equipme_4
Note 6 - Property and Equipment - Summary of Property and Equipment (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Property and equipment, at cost | $ 670 | $ 710 |
Less: accumulated depreciation and amortization | (560) | (509) |
Total property and equipment, net | 110 | 201 |
Equipment [Member] | ||
Property and equipment, at cost | 20 | 24 |
Furniture and Fixtures [Member] | ||
Property and equipment, at cost | 157 | 157 |
Computer Equipment and Software [Member] | ||
Property and equipment, at cost | 349 | 385 |
Production Equipment [Member] | ||
Property and equipment, at cost | 65 | 65 |
Leasehold Improvements [Member] | ||
Property and equipment, at cost | $ 79 | $ 79 |
Note 7 - Accrued Liabilities -
Note 7 - Accrued Liabilities - Summary of Accrued Liabilities (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Employee payroll and benefits | $ 463 | $ 708 |
Avenova contract liabilities | 822 | 2,282 |
Deferred rent | 101 | |
Sublease security deposit | 198 | |
Accrued interest on Convertible Note | 13 | |
Consulting service | 109 | |
Related party consulting service | 33 | |
Other accrued liabilities (c) | 140 | 164 |
Total accrued liabilities | $ 1,778 | $ 3,255 |
Note 8 - Commitments and Cont_3
Note 8 - Commitments and Contingencies (Details Textual) | Jul. 29, 2019USD ($) | Mar. 31, 2019USD ($) | Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) |
Number of Vehicles Leased | 15 | ||||
Operating Lease, Impairment Loss | $ 125,000 | $ 125,000 | |||
Operating Leases, Rent Expense, Net, Total | $ 505,000 | $ 483,000 | |||
Selling and Marketing Expense [Member] | |||||
Operating Lease, Impairment Loss | $ 125,000 | ||||
Master Fleet Lease Agreement [Member] | |||||
Number of Vehicles Leased | 54 | ||||
Lessee, Operating Lease, Term of Contract | 3 years | ||||
KBSIII Towers [Member] | |||||
Lessee, Operating Lease, Renewal Term | 5 years | ||||
Chief Executive Officer [Member] | |||||
Severance Costs | $ 370,000 |
Note 8 - Commitments and Cont_4
Note 8 - Commitments and Contingencies - Lease Expense (Details) $ in Thousands | 12 Months Ended |
Dec. 31, 2019USD ($) | |
Operating lease cost | $ 1,130 |
Sublease income | (632) |
Net lease cost | 498 |
Operational cash flow used for operating leases | $ 1,285 |
Weighted-average remaining lease term (in years) (Year) | 1 year 255 days |
Weighted-average discount rate | 12.00% |
Note 8 - Commitments and Cont_5
Note 8 - Commitments and Contingencies - Schedule of Future Lease Payments (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
2020 | $ 1,047 | |
2021 | 454 | |
2022 | 88 | |
Thereafter | ||
Total future minimum lease payments | 1,589 | |
Less imputed interest | (154) | |
Total | 1,435 | |
Operating lease liability | 930 | |
Operating lease liability - non-current | 505 | |
Total | $ 1,435 |
Note 8 - Commitments and Cont_6
Note 8 - Commitments and Contingencies - Schedule of Future Lease Payments to Be Received (Details) $ in Thousands | Dec. 31, 2019USD ($) |
2020 | $ 577 |
2021 | |
2022 | |
Thereafter | |
Total future minimum lease payments | $ 577 |
Note 9 - Related Party Notes _3
Note 9 - Related Party Notes Payable (Details Textual) - USD ($) | Jun. 25, 2019 | Feb. 27, 2019 | Dec. 31, 2019 |
Pioneer Hong Kong [Member] | Promissory Note [Member] | |||
Debt Instrument, Face Amount | $ 1,000,000 | ||
Debt Instrument, Periodic Payment, Interest | $ 300,000 | 150,000 | |
Debt Issuance Costs, Net, Total | $ 20,000 | ||
Gains (Losses) on Restructuring of Debt | $ 0 | ||
Interest Expense, Total | $ 222 | ||
China Kington [Member] | |||
Brokering Fee, Percent | 2.00% | ||
Consulting Agreement, Term | 1 year | ||
Director Bob Wu [Member] | |||
Consulting Agreement, Amount | $ 100,000 |
Note 9 - Related Party Notes _4
Note 9 - Related Party Notes Payable - Schedule of related Party Debt (Details) - USD ($) | Dec. 31, 2019 | Dec. 31, 2018 |
Less: short-term | $ 1,202,000 | |
Pioneer Hong Kong [Member] | Secured Convertible Promissory Note [member] | ||
Debt Instrument, Face Amount | 1,000,000 | |
Unamortized debt issuance costs | (2,000) | |
Accrued interest | 204 | |
Total debt | 1,202,000 | |
Less: short-term | 1,202,000 | |
Long-term |
Note 10 - Convertible Note (Det
Note 10 - Convertible Note (Details Textual) - USD ($) | Aug. 08, 2019 | Mar. 26, 2019 | Dec. 31, 2019 | Sep. 30, 2019 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Aug. 31, 2019 | Oct. 27, 2015 |
Proceeds from Convertible Debt | $ 2,000,000 | ||||||||
Embedded Derivative, Fair Value of Embedded Derivative Liability | $ 3,000 | 3,000 | |||||||
Derivative, Gain (Loss) on Derivative, Net, Total | 424,000 | ||||||||
Stock Issued During Period, Shares, New Issues | 4,198,566 | 4,198,566 | |||||||
Shares Issued, Price Per Share | $ 1 | $ 5 | |||||||
Repayments of Convertible Debt | 652,000 | ||||||||
Warrant Exercisable for Common Stock [Member] | |||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 4,198,566 | ||||||||
The 2019 Domestic Warrants [Member] | |||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 4,198,566 | 4,198,566 | |||||||
Common Stock, Closing Price | $ 2 | ||||||||
Iliad Research and Trading, L.P. [Member] | |||||||||
Payments for Redeeming of Convertible Note, Per Month | 200,000 | ||||||||
Repayments of Convertible Debt | 800,000 | ||||||||
Repayments of Convertible Debt, Against Outstanding Balance | 652,000 | ||||||||
Iliad Research and Trading, L.P. [Member] | Secured Convertible Promissory Note [member] | |||||||||
Debt Instrument, Face Amount | $ 2,200,000 | $ 1,563,000 | $ 1,563,000 | ||||||
Debt Instrument, Interest Rate, Stated Percentage | 10.00% | ||||||||
Proceeds from Convertible Debt | $ 2,000,000 | ||||||||
Debt Instrument, Original Issue Discount | 200,000 | ||||||||
Debt Instrument, Fee Amount | 15,000 | ||||||||
Deferred Finance Costs Excluding Transaction Fees | $ 182,000 | ||||||||
Debt Instrument, Convertible, Conversion Price | $ 1.65 | ||||||||
Debt Instrument, Convertible, Redeemed Amount Per Month | $ 200,000 | $ 200,000 | |||||||
Debt Instrument, Convertible, Market Price, Percentage of Lowest Closing Bid Price | 85.00% | ||||||||
Debt Instrument, Redemption Price, Percentage | 115.00% | ||||||||
Common Stock, Capital Shares Reserved for Future Issuance | 3,200,000 | ||||||||
Debt Instrument, Collateral Amount | $ 1,000,000 | ||||||||
Debt Instrument, Convertible, Increase in Outstanding Balance, Percentage | 15.00% | ||||||||
Debt Instrument, Unamortized Discount, Including Original Issue Discount, Total | $ 627,000 | ||||||||
Debt Issuance Cost, Gross, Noncurrent | $ 197,000 | ||||||||
Debt Instrument, Interest Rate During Period | 52.67% | ||||||||
Interest Expense, Debt, Total | $ 831 |
Note 10 - Convertible Note - Ke
Note 10 - Convertible Note - Key Assumptions Used to Value the Combined Embedded Derivative (Details) | Dec. 31, 2019yr | Mar. 26, 2019yr |
Measurement Input, Share Price [Member] | ||
Derivative Liability, Measurement Input | 0.0065 | 0.0128 |
Measurement Input, Price Volatility [Member] | ||
Derivative Liability, Measurement Input | 1.926 | 0.938 |
Measurement Input, Risk Free Interest Rate [Member] | ||
Derivative Liability, Measurement Input | 0.016 | 0.0234 |
Measurement Input, Expected Term [Member] | ||
Derivative Liability, Measurement Input | 0.74 | 1.5 |
Note 10 - Convertible Note - Sc
Note 10 - Convertible Note - Schedule of Convertible Note (Details) - Secured Convertible Promissory Note [member] - Iliad Research and Trading, L.P. [Member] - USD ($) | Dec. 31, 2019 | Mar. 26, 2019 |
Debt Instrument, Face Amount | $ 1,563,000 | $ 2,200,000 |
Unamortized discount | (117,000) | |
Unamortized debt issuance costs | (37,000) | |
Long-term | 1,409,000 | |
Less: short-term | 1,409,000 | |
Long-term |
Note 10 - Convertible Note - _2
Note 10 - Convertible Note - Schedule of Maturity of Convertible Note (Details) - Iliad Research and Trading, L.P. [Member] - Secured Convertible Promissory Note [member] $ in Thousands | Dec. 31, 2019USD ($) |
2020 | $ 1,563 |
2021 and thereafter | |
Total | $ 1,563 |
Note 11 - Warrant Liability (De
Note 11 - Warrant Liability (Details Textual) - USD ($) | Aug. 08, 2019 | Oct. 27, 2015 | Oct. 22, 2015 | Mar. 03, 2015 | Jul. 31, 2019 | Oct. 31, 2015 | Jul. 31, 2011 | Sep. 30, 2019 | Jun. 30, 2019 | Jun. 30, 2017 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Oct. 09, 2019 | Aug. 31, 2019 | Aug. 13, 2019 | May 31, 2019 | Mar. 31, 2019 | Jan. 01, 2019 | Dec. 31, 2016 | Feb. 29, 2016 | Mar. 31, 2015 | Jan. 05, 2012 |
Noncash or Part Noncash Acquisition, Noncash Financial or Equity Instrument Consideration, Warrants Issued | 139,520 | ||||||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 33.25 | $ 1.09 | $ 1.81 | $ 1.81 | $ 1.81 | ||||||||||||||||||
Minimum Common Stock Closing Bid Price Per Share | $ 66.50 | ||||||||||||||||||||||
Stock Issued During Period, Shares, New Issues | 4,198,566 | 4,198,566 | |||||||||||||||||||||
Shares Issued, Price Per Share | $ 1 | $ 5 | |||||||||||||||||||||
Additional Paid in Capital, Ending Balance | $ 125,718,000 | $ 119,764,000 | |||||||||||||||||||||
Class of Warrant or Right, Exercised During Period | 394,000 | 21,000 | |||||||||||||||||||||
Proceeds from Warrant Exercises | $ 67,000 | $ 38,000 | |||||||||||||||||||||
Embedded Derivative, No Longer Bifurcated, Amount Reclassified to Stockholders' Equity | 553,000 | $ 58,000 | |||||||||||||||||||||
Accounting Standards Update 2017-11 [Member] | |||||||||||||||||||||||
Warrants and Rights Outstanding | (56,000) | $ (56,000) | $ (56,000) | ||||||||||||||||||||
Additional Paid in Capital, Ending Balance | 56,000 | $ 56,000 | 356,000 | ||||||||||||||||||||
Accounting Standards Update 2017-11 [Member] | Retained Earnings [Member] | |||||||||||||||||||||||
Cumulative Effect of New Accounting Principle in Period of Adoption | $ (356,000) | ||||||||||||||||||||||
Underwriting Agreement [Member] | |||||||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 5 | ||||||||||||||||||||||
Warrants and Rights Outstanding, Term | 5 years | ||||||||||||||||||||||
Stock Issued During Period, Shares, New Issues | 492,000 | ||||||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 442,802 | ||||||||||||||||||||||
Proceeds from Issuance of Stock and Warrants | $ 2,100,000 | ||||||||||||||||||||||
Warrants and Rights Outstanding | 1,300,000 | ||||||||||||||||||||||
March 2015 Short-term and Long-term Warrants [Member] | |||||||||||||||||||||||
Length of Notice for warrant Holders | 20 days | 2 days | |||||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 133,167 | 21,000 | |||||||||||||||||||||
Class of Warrant or Right, Exercised During Period | 133,167 | 21,000 | |||||||||||||||||||||
Proceeds from Warrant Exercises | $ 13,000 | $ 38,000 | |||||||||||||||||||||
Warrant Liabilities, Fair Value Disclosure | 58,000 | ||||||||||||||||||||||
Fair Market Value of Warrants Transferred to Equity Upon Exercise | $ 58,000 | ||||||||||||||||||||||
Short-term Warrants [Member] | |||||||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 15 | ||||||||||||||||||||||
Short-term Warrants [Member] | Private Placement [Member] | |||||||||||||||||||||||
Warrants and Rights Outstanding, Term | 1 year 90 days | ||||||||||||||||||||||
Long-term Warrants [Member] | |||||||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 16.25 | ||||||||||||||||||||||
Long-term Warrants [Member] | Private Placement [Member] | |||||||||||||||||||||||
Warrants and Rights Outstanding, Term | 5 years | ||||||||||||||||||||||
The 2011 and March 2015 Warrants [Member] | |||||||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 5 | ||||||||||||||||||||||
Class of Warrant or Right Price Protection Provision Exchangeable Securities Exercise Price Trigger | $ 5 | ||||||||||||||||||||||
Warrants and Rights Outstanding | $ 1,800,000 | ||||||||||||||||||||||
July 2011, March 2015, and October 2015 Warrants [Member] | |||||||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 0.2061 | $ 1.81 | |||||||||||||||||||||
July 2011 and October 2015 Warrants [Member] | |||||||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 102,602 | 102,602 | 158,400 | ||||||||||||||||||||
Warrants and Rights Outstanding | $ 200,000 | $ 400,000 | |||||||||||||||||||||
Class of Warrant or Right, Exercised During Period | 102,602 | 102,602 | 158,400 | ||||||||||||||||||||
Proceeds from Warrant Exercises | $ 21,000 | $ 21,000 | $ 33,000 | ||||||||||||||||||||
Embedded Derivative, No Longer Bifurcated, Amount Reclassified to Stockholders' Equity | $ 200,000 | $ 400,000 | |||||||||||||||||||||
The 2019 Domestic Warrants [Member] | |||||||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 1.15 | $ 1.15 | $ 1.15 | ||||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 4,198,566 | 4,198,566 | |||||||||||||||||||||
Warrants and Rights Outstanding | $ 3,100,000 | 2,410,000 | $ 3,100,000 | ||||||||||||||||||||
Additional Paid in Capital, Ending Balance | $ (255,000) | ||||||||||||||||||||||
The 2019 Foreign Warrants [Member] | |||||||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 1.15 | $ 1.15 | |||||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 2,700,000 | 2,700,000 | 2,700,000 | ||||||||||||||||||||
Warrants and Rights Outstanding | $ 2,000,000 | 1,550,000 | $ 2,000,000 | ||||||||||||||||||||
The 2019 Ladenburg Warrants [Member] | |||||||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 1.25 | $ 1.25 | $ 1.25 | ||||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 167,942 | ||||||||||||||||||||||
Warrants and Rights Outstanding | $ 95,000 | $ 124,000 |
Note 11 - Warrant Liability - T
Note 11 - Warrant Liability - The Key Assumptions Used to Value the Warrants (Details) | Dec. 31, 2019 | Aug. 13, 2019 | Dec. 31, 2018 |
Measurement Input, Price Volatility [Member] | The 2011 Warrants [Member] | |||
Warrants assumptions | 1.15 | 0.77 | |
Measurement Input, Price Volatility [Member] | The 2019 Ladenburg Warrants [Member] | |||
Warrants assumptions | 1.5994 | 1.5519 | |
Measurement Input, Price Volatility [Member] | October 2015 Warrants [Member] | |||
Warrants assumptions | 1.84 | 0.73 | |
Measurement Input, Price Volatility [Member] | The 2019 Domestic Warrants [Member] | |||
Warrants assumptions | 1.541 | 1.4929 | |
Measurement Input, Price Volatility [Member] | Short-term Warrants [Member] | |||
Warrants assumptions | 0.77 | ||
Measurement Input, Price Volatility [Member] | Long-term Warrants [Member] | |||
Warrants assumptions | 0.77 | ||
Measurement Input, Price Volatility [Member] | The 2019 Foreign Warrants [Member] | |||
Warrants assumptions | 1.541 | 1.4929 | |
Measurement Input, Expected Term [Member] | The 2011 Warrants [Member] | |||
Warrants assumptions | 0.18 | 1.18 | |
Measurement Input, Expected Term [Member] | The 2019 Ladenburg Warrants [Member] | |||
Warrants assumptions | 4.61 | 5 | |
Measurement Input, Expected Term [Member] | October 2015 Warrants [Member] | |||
Warrants assumptions | 0.83 | 1.83 | |
Measurement Input, Expected Term [Member] | The 2019 Domestic Warrants [Member] | |||
Warrants assumptions | 5.13 | 5.5 | |
Measurement Input, Expected Term [Member] | Short-term Warrants [Member] | |||
Warrants assumptions | 1.18 | ||
Measurement Input, Expected Term [Member] | Long-term Warrants [Member] | |||
Warrants assumptions | 1.18 | ||
Measurement Input, Expected Term [Member] | The 2019 Foreign Warrants [Member] | |||
Warrants assumptions | 5.13 | 5.5 | |
Measurement Input, Risk Free Interest Rate [Member] | The 2011 Warrants [Member] | |||
Warrants assumptions | 0.0152 | 0.026 | |
Measurement Input, Risk Free Interest Rate [Member] | The 2019 Ladenburg Warrants [Member] | |||
Warrants assumptions | 0.0169 | 0.0157 | |
Measurement Input, Risk Free Interest Rate [Member] | October 2015 Warrants [Member] | |||
Warrants assumptions | 0.0159 | 0.0251 | |
Measurement Input, Risk Free Interest Rate [Member] | The 2019 Domestic Warrants [Member] | |||
Warrants assumptions | 0.017 | 0.0158 | |
Measurement Input, Risk Free Interest Rate [Member] | Short-term Warrants [Member] | |||
Warrants assumptions | 0.026 | ||
Measurement Input, Risk Free Interest Rate [Member] | Long-term Warrants [Member] | |||
Warrants assumptions | 0.026 | ||
Measurement Input, Risk Free Interest Rate [Member] | The 2019 Foreign Warrants [Member] | |||
Warrants assumptions | 0.017 | 0.0158 | |
Measurement Input, Expected Dividend Rate [Member] | The 2011 Warrants [Member] | |||
Warrants assumptions | 0 | 0 | |
Measurement Input, Expected Dividend Rate [Member] | The 2019 Ladenburg Warrants [Member] | |||
Warrants assumptions | 0 | 0 | |
Measurement Input, Expected Dividend Rate [Member] | October 2015 Warrants [Member] | |||
Warrants assumptions | 0 | 0 | |
Measurement Input, Expected Dividend Rate [Member] | The 2019 Domestic Warrants [Member] | |||
Warrants assumptions | 0 | 0 | |
Measurement Input, Expected Dividend Rate [Member] | Short-term Warrants [Member] | |||
Warrants assumptions | 0 | ||
Measurement Input, Expected Dividend Rate [Member] | Long-term Warrants [Member] | |||
Warrants assumptions | 0 | ||
Measurement Input, Expected Dividend Rate [Member] | The 2019 Foreign Warrants [Member] | |||
Warrants assumptions | 0 | 0 | |
Measurement Input, Share Price [Member] | The 2011 Warrants [Member] | |||
Warrants assumptions | 0.0044 | 0.0029 | |
Measurement Input, Share Price [Member] | The 2019 Ladenburg Warrants [Member] | |||
Warrants assumptions | 0.0057 | 0.0074 | |
Measurement Input, Share Price [Member] | October 2015 Warrants [Member] | |||
Warrants assumptions | 0.0049 | 0.0038 | |
Measurement Input, Share Price [Member] | The 2019 Domestic Warrants [Member] | |||
Warrants assumptions | 0.0057 | 0.0075 | |
Measurement Input, Share Price [Member] | Short-term Warrants [Member] | |||
Warrants assumptions | 0.0024 | ||
Measurement Input, Share Price [Member] | Long-term Warrants [Member] | |||
Warrants assumptions | 0.0029 | ||
Measurement Input, Share Price [Member] | The 2019 Foreign Warrants [Member] | |||
Warrants assumptions | 0.0057 | 0.0075 |
Note 11 - Warrant Liability - O
Note 11 - Warrant Liability - Outstanding Warrant Liability (Details) - USD ($) shares in Thousands | Dec. 31, 2019 | Aug. 13, 2019 | Aug. 08, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Shares (in shares) | 8,588 | 544 | 544 | 565 | ||
The 2011 Warrants [Member] | ||||||
Shares (in shares) | 35 | |||||
Warrant liability | $ 15,000 | |||||
October 2015 Warrants [Member] | ||||||
Shares (in shares) | 38 | |||||
Warrant liability | $ 19,000 | |||||
Warrant Liability, Current [Member] | ||||||
Shares (in shares) | 73 | |||||
Warrant liability | $ 34,000 | |||||
The 2019 Domestic Warrants [Member] | ||||||
Shares (in shares) | 4,199 | |||||
Warrant liability | $ 2,410,000 | $ 3,100,000 | $ 3,100,000 | |||
The 2019 Foreign Warrants [Member] | ||||||
Shares (in shares) | 2,700 | |||||
Warrant liability | $ 1,550,000 | 2,000,000 | $ 2,000,000 | |||
The 2019 Ladenburg Warrants [Member] | ||||||
Shares (in shares) | 168 | |||||
Warrant liability | $ 95,000 | $ 124,000 | ||||
Warrant Liability, Noncurrent [Member] | ||||||
Shares (in shares) | 7,067 | |||||
Warrant liability | $ 4,055,000 |
Note 12 - Stockholders' Equit_2
Note 12 - Stockholders' Equity (Details Textual) - USD ($) | Oct. 09, 2019 | Sep. 05, 2019 | Aug. 08, 2019 | Jun. 26, 2019 | Mar. 29, 2019 | Aug. 31, 2019 | Jul. 31, 2019 | Jun. 30, 2019 | May 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2018 | Jun. 30, 2017 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Aug. 13, 2019 | Dec. 31, 2016 | Feb. 29, 2016 | Oct. 27, 2015 | Jul. 31, 2011 |
Preferred Stock, Shares Authorized | 5,000,000 | 5,000,000 | |||||||||||||||||||
Preferred Stock, Shares Outstanding, Ending Balance | 0 | 0 | |||||||||||||||||||
Stock Issued During Period, Shares, New Issues | 4,198,566 | 4,198,566 | |||||||||||||||||||
Payments of Stock Issuance Costs | $ 488,000 | ||||||||||||||||||||
Adjustments to Additional Paid in Capital, Stock Issued, Issuance Costs | $ 399,000 | ||||||||||||||||||||
Common Stock, Par or Stated Value Per Share | $ 0.01 | $ 0.01 | |||||||||||||||||||
Stock Issued During Period, Value, New Issues | $ 3,502,000 | $ 5,984,000 | |||||||||||||||||||
Common Stock, Shares Authorized | 50,000,000 | 240,000,000 | |||||||||||||||||||
Proceeds from Issuance of Common Stock | $ 4,200,000 | $ 6,698,000 | $ 5,585,000 | ||||||||||||||||||
Shares Issued, Price Per Share | $ 1 | $ 5 | |||||||||||||||||||
Class of Warrant or Right, Issued During Period | 8,438,000 | ||||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 1.09 | $ 1.81 | $ 1.81 | $ 1.81 | $ 33.25 | ||||||||||||||||
Additional Paid in Capital, Ending Balance | $ 125,718,000 | $ 119,764,000 | |||||||||||||||||||
Warrant, Down Round Feature, (Increase) Decrease in Equity, Amount | $ 29,000 | ||||||||||||||||||||
Class of Warrant or Right, Exercised During Period | 394,000 | 21,000 | |||||||||||||||||||
Proceeds from Warrant Exercises | $ 67,000 | $ 38,000 | |||||||||||||||||||
Triton Funds LP [Member] | |||||||||||||||||||||
Common Stock, Shares Authorized | 3,000,000 | ||||||||||||||||||||
Purchase Price, Percentage of Lowest Trading Price of Common Stock for Five Days Prior to Closing | 90.00% | ||||||||||||||||||||
Triton Funds LLC [Member] | |||||||||||||||||||||
Stock Issued During Period, Shares, New Issues | 150,000 | 1,747,312 | |||||||||||||||||||
Payments of Stock Issuance Costs | $ 122,000 | ||||||||||||||||||||
Common Stock, Par or Stated Value Per Share | $ 0.01 | $ 0.01 | |||||||||||||||||||
Stock Issued During Period, Value, New Issues | $ 360,000 | ||||||||||||||||||||
Proceeds from Issuance of Common Stock | $ 288,000 | ||||||||||||||||||||
Ladenburg Thalmann and Co. Inc. [Member] | |||||||||||||||||||||
Private Placement, Commission Percentage | 6.00% | ||||||||||||||||||||
Payments of Stock Issuance Costs | $ 252,000 | ||||||||||||||||||||
Payments of Stock Issuance Costs, Reimbursement of Expenses | 60,000 | ||||||||||||||||||||
Payments of Stock Issuance Costs, Other | 312,000 | ||||||||||||||||||||
Private Placement [Member] | |||||||||||||||||||||
Payments of Stock Issuance Costs | 33,000 | $ 27,000 | |||||||||||||||||||
Payments of Stock Issuance Costs Allocated to Warrants | $ 93,000 | ||||||||||||||||||||
Private Placement [Member] | China Kington Asset Management Co. Ltd. [Member] | |||||||||||||||||||||
Private Placement, Commission Percentage | 6.00% | 6.00% | |||||||||||||||||||
Payments of Stock Issuance Costs | $ 162,000 | $ 359,000 | |||||||||||||||||||
Private Placement [Member] | OP Financial Investments Limited [Member] | |||||||||||||||||||||
Stock Issued During Period, Shares, New Issues | 1,700,000 | ||||||||||||||||||||
Common Stock, Par or Stated Value Per Share | $ 0.01 | ||||||||||||||||||||
Stock Issued During Period, Value, New Issues | $ 5,984,000 | ||||||||||||||||||||
Private Placement [Member] | NYSE American [Member] | |||||||||||||||||||||
Payments of Stock Issuance Costs | $ 34,000 | ||||||||||||||||||||
Private Placement [Member] | Three Accredited Investors [Member] | |||||||||||||||||||||
Stock Issued During Period, Shares, New Issues | 1,371,427 | ||||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 1,371,427 | ||||||||||||||||||||
Issuance of Stock and Warrants During the Period, Value | $ 2,400,000 | ||||||||||||||||||||
Private Placement [Member] | Xiao Rui Liu [Member] | |||||||||||||||||||||
Issuance of Stock and Warrants During the Period, Value | 1,000,000 | ||||||||||||||||||||
Private Placement [Member] | Hai Dong Pang [Member] | |||||||||||||||||||||
Issuance of Stock and Warrants During the Period, Value | 400,000 | ||||||||||||||||||||
Private Placement [Member] | Ping Huang [Member] | |||||||||||||||||||||
Issuance of Stock and Warrants During the Period, Value | $ 1,000,000 | ||||||||||||||||||||
Private Placement [Member] | China Kington [Member] | |||||||||||||||||||||
Private Placement, Commission Percentage | 6.00% | ||||||||||||||||||||
Payments of Stock Issuance Costs | $ 144,000 | ||||||||||||||||||||
Conversion of Series A Preferred Stock to Common Stock [Member] | |||||||||||||||||||||
Conversion of Stock, Shares Issued | 2,700,000 | ||||||||||||||||||||
Convertible Preferred Stock, Shares Issued upon Conversion | 1 | ||||||||||||||||||||
Conversion of Stock, Shares Converted | 2,700,000 | ||||||||||||||||||||
The 2019 Foreign Warrants [Member] | |||||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 2,700,000 | 2,700,000 | 2,700,000 | ||||||||||||||||||
Warrants and Rights Outstanding | $ 2,000,000 | 1,550,000 | $ 2,000,000 | ||||||||||||||||||
Class of Warrant or Right, Issued During Period | 2,700,000 | ||||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 1.15 | $ 1.15 | |||||||||||||||||||
The 2019 Domestic Warrants [Member] | |||||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 4,198,566 | 4,198,566 | |||||||||||||||||||
Warrants and Rights Outstanding | $ 3,100,000 | 2,410,000 | $ 3,100,000 | ||||||||||||||||||
Payments of Stock Issuance Costs Allocated to Warrants | $ 233,000 | ||||||||||||||||||||
Class of Warrant or Right, Issued During Period | 4,198,566 | 4,198,566 | |||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 1.15 | $ 1.15 | $ 1.15 | ||||||||||||||||||
Common Stock, Closing Price | $ 2 | ||||||||||||||||||||
Additional Paid in Capital, Ending Balance | $ (255,000) | ||||||||||||||||||||
The 2019 Ladenburg Warrants [Member] | |||||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 167,942 | ||||||||||||||||||||
Warrants and Rights Outstanding | 95,000 | $ 124,000 | |||||||||||||||||||
Payments of Stock Issuance Costs Allocated to Warrants | 59,000 | ||||||||||||||||||||
Adjustments to Additional Paid in Capital, Stock Issued, Issuance Costs | $ 65,000 | ||||||||||||||||||||
Class of Warrant or Right, Issued During Period | 167,942 | ||||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 1.25 | $ 1.25 | $ 1.25 | ||||||||||||||||||
The 2019 Ladenburg Warrants [Member] | Ladenburg Thalmann and Co. Inc. [Member] | |||||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 167,942 | ||||||||||||||||||||
July 2011, March 2015, and October 2015 Warrants [Member] | |||||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 0.2061 | $ 1.81 | |||||||||||||||||||
March 2015 Short-term and Long-term Warrants [Member] | |||||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 133,167 | 133,167 | 21,000 | ||||||||||||||||||
Warrant, Down Round Feature, (Increase) Decrease in Equity, Amount | $ 29,000 | ||||||||||||||||||||
Class of Warrant or Right, Exercised During Period | 133,167 | 21,000 | |||||||||||||||||||
Proceeds from Warrant Exercises | $ 13,000 | $ 38,000 | |||||||||||||||||||
Class of Warrant or Right, Exercised During Period, Cashless Exercise | 70,000 | ||||||||||||||||||||
Stock Issued In Connection with Exercise of Warrants, Shares | 64,979 | ||||||||||||||||||||
July 2011 and October 2015 Warrants [Member] | |||||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 102,602 | 158,400 | 102,602 | 158,400 | |||||||||||||||||
Warrants and Rights Outstanding | $ 400,000 | $ 200,000 | $ 400,000 | ||||||||||||||||||
Class of Warrant or Right, Exercised During Period | 102,602 | 102,602 | 158,400 | ||||||||||||||||||
Proceeds from Warrant Exercises | $ 21,000 | $ 21,000 | $ 33,000 | ||||||||||||||||||
The June 2019 Warrants [Member] | |||||||||||||||||||||
Class of Warrant or Right Call Feature Minimum Stock Price | $ 1 | $ 1 | |||||||||||||||||||
The June 2019 Warrants [Member] | Private Placement [Member] | |||||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 1,371,427 | 1,371,427 | |||||||||||||||||||
Class of Warrant or Right, Issued During Period | 1,371,427 | ||||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 0.87 | $ 0.87 | |||||||||||||||||||
Warrants and Rights Outstanding, Term | 1 year | 1 year | |||||||||||||||||||
Series A Preferred Stock [Member] | |||||||||||||||||||||
Stock Issued During Period, Shares, New Issues | 2,700,000 | ||||||||||||||||||||
Proceeds from Issuance of Preferred Stock and Preference Stock | $ 2,700,000 | ||||||||||||||||||||
Adjustments to Additional Paid in Capital, Beneficial Conversion Feature Upon Issuance of Stock | $ 800,000 | $ 800,000 | |||||||||||||||||||
Series A Preferred Stock [Member] | Private Placement [Member] | |||||||||||||||||||||
Adjustments to Additional Paid in Capital, Stock Issued, Issuance Costs | $ 102,000 |
Note 12 - Stockholders' Equit_3
Note 12 - Stockholders' Equity - Outstanding Warrants (Details) - $ / shares shares in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Outstanding warrants (in shares) | 544 | 544 | 565 |
Outstanding warrants, weighted-average exercise price (in dollars per share) | $ 1.81 | $ 1.81 | $ 1.81 |
Warrants granted (in shares) | 8,438 | ||
Warrants granted, weighted average exercise price (in dollars per share) | $ 1.11 | ||
Warrants exercised (in shares) | (394) | (21) | |
Warrants exercised, weighted average exercise price (in dollars per share) | $ 0.21 | $ 1.81 | |
Warrants expired (in shares) | |||
Warrants expired, weighted average exercise price (in dollars per share) | |||
Warrants exercised (in shares) | 394 | 21 | |
Warrants expired (in shares) | |||
Outstanding warrants (in shares) | 8,588 | 544 | 544 |
Outstanding warrants, weighted-average exercise price (in dollars per share) | $ 1.09 | $ 1.81 | $ 1.81 |
Note 13 - Equity-based Compen_3
Note 13 - Equity-based Compensation (Details Textual) - USD ($) $ in Thousands | Sep. 12, 2019 | Sep. 11, 2019 | Jul. 20, 2019 | Jul. 19, 2019 | May 01, 2019 | Apr. 30, 2019 | Apr. 29, 2019 | Apr. 28, 2019 | Mar. 31, 2018 | Mar. 31, 2018 | May 26, 2016 | Mar. 30, 2015 | Sep. 30, 2019 | Jul. 31, 2019 | Mar. 30, 2018 | Jul. 30, 2017 | Jan. 31, 2017 | Jan. 31, 2016 | Jan. 31, 2014 | Jan. 31, 2013 | Jan. 31, 2012 | Jan. 31, 2011 | Jan. 31, 2010 | Dec. 31, 2019 | Dec. 31, 2017 | Sep. 30, 2017 | Dec. 31, 2017 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2013 | Dec. 31, 2012 | Oct. 31, 2007 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period | 83,000 | 4,000 | 68,000 | ||||||||||||||||||||||||||||||
Proceeds from Stock Options Exercised | $ 189 | $ 11 | $ 185 | ||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value | $ 0 | $ 0 | $ 116 | ||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 145,000 | 1,118,000 | 1,616,000 | ||||||||||||||||||||||||||||||
Payments of Dividends, Total | $ 0 | ||||||||||||||||||||||||||||||||
Share-based Payment Arrangement, Expense | $ 486 | $ 671 | $ 2,542 | ||||||||||||||||||||||||||||||
Employees and Directors [Member] | |||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 145,000 | 1,085,000 | 1,529,000 | ||||||||||||||||||||||||||||||
Share-based Payment Arrangement, Expense | $ 449 | $ 671 | $ 2,371 | ||||||||||||||||||||||||||||||
Nonemployees [Member] | |||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 0 | ||||||||||||||||||||||||||||||||
Share-based Payment Arrangement, Expense | $ 37 | $ 0 | $ 243 | ||||||||||||||||||||||||||||||
Share-based Payment Arrangement, Option [Member] | Mr. Mark Sieczkarek [Member] | |||||||||||||||||||||||||||||||||
Share-based Payment Arrangement, Expense | $ 60 | ||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Exercisable Period | 3 years | 90 days | |||||||||||||||||||||||||||||||
Share-based Payment Arrangement, Option [Member] | Chief Financial Officer [Member] | |||||||||||||||||||||||||||||||||
Share-based Payment Arrangement, Expense | $ 260 | $ 244 | |||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Exercisable Period | 90 days | 3 years | |||||||||||||||||||||||||||||||
Share-based Payment Arrangement, Option [Member] | Mr. Henry Liu [Member] | |||||||||||||||||||||||||||||||||
Share-based Payment Arrangement, Expense | $ 26 | ||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Exercisable Period | 90 days | 3 years | |||||||||||||||||||||||||||||||
Share-based Payment Arrangement, Option [Member] | Mr. Liu [Member] | |||||||||||||||||||||||||||||||||
Share-based Payment Arrangement, Expense | $ 14 | ||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Exercisable Period | 3 years | 90 days | |||||||||||||||||||||||||||||||
Share-based Payment Arrangement, Option [Member] | Mr. Yanbin Liu [Member] | |||||||||||||||||||||||||||||||||
Share-based Payment Arrangement, Expense | $ 7 | ||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Exercisable Period | 3 years | 90 days | |||||||||||||||||||||||||||||||
Share-based Payment Arrangement, Option [Member] | Mr. Todd Zavodnick [Member] | |||||||||||||||||||||||||||||||||
Share-based Payment Arrangement, Expense | $ 24 | ||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Exercisable Period | 3 years | 90 days | |||||||||||||||||||||||||||||||
Share-based Payment Arrangement, Option [Member] | Nonemployees [Member] | |||||||||||||||||||||||||||||||||
Share-based Goods and Nonemployee Services Transaction, Quantity of Securities Issued | 33,000 | 86,000 | |||||||||||||||||||||||||||||||
Employee Stock Options and RSUs [Member] | |||||||||||||||||||||||||||||||||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total | $ 491 | $ 491 | |||||||||||||||||||||||||||||||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition | 2 years 73 days | ||||||||||||||||||||||||||||||||
Fully Vested Registered Stock [Member] | Mr. Mark Sieczkarek [Member] | |||||||||||||||||||||||||||||||||
Share-based Goods and Nonemployee Services Transaction, Quantity of Securities Issued | 168,000 | ||||||||||||||||||||||||||||||||
Fully Vested Registered Stock [Member] | Nonemployees [Member] | |||||||||||||||||||||||||||||||||
Share-based Goods and Nonemployee Services Transaction, Quantity of Securities Issued | 31,000 | ||||||||||||||||||||||||||||||||
Fully Vested Registered Stock [Member] | Ms. Moon and Ms. Xiao [Member] | |||||||||||||||||||||||||||||||||
Share-based Goods and Nonemployee Services Transaction, Quantity of Securities Issued | 36,000 | ||||||||||||||||||||||||||||||||
Restricted Stock [Member] | |||||||||||||||||||||||||||||||||
Share-based Goods and Nonemployee Services Transaction, Quantity of Securities Issued | 0 | ||||||||||||||||||||||||||||||||
Restricted Stock [Member] | Employee [Member] | |||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 12,000 | 10,000 | |||||||||||||||||||||||||||||||
Restricted Stock [Member] | Nonemployees [Member] | |||||||||||||||||||||||||||||||||
Share-based Goods and Nonemployee Services Transaction, Quantity of Securities Issued | 8,000 | ||||||||||||||||||||||||||||||||
The 2007 Omnibus Incentive Plan [Member] | |||||||||||||||||||||||||||||||||
Common Stock, Capital Shares Reserved for Future Issuance | 80,000 | ||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Maximum Annual Increase in Shares Authorized | 40,000 | ||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Annual Increase in Shares Authorized, Percentage of Outstanding Common Stock | 4.00% | 4.00% | |||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Additional Shares Authorized | 1,124,826 | 82,461 | 32,646 | 59,157 | 40,000 | 37,427 | 37,207 | ||||||||||||||||||||||||||
Increase (Decrease) in Number of Shares Available for Grant | 610,774 | 139,449 | |||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 2,318,486 | ||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Purchase Price of Common Stock, Percentage of Stock Owned by Shareholder, Minimum | 10.00% | ||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 4 years | ||||||||||||||||||||||||||||||||
The 2007 Omnibus Incentive Plan [Member] | Minimum [Member] | |||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Purchase Price of Common Stock, Percent | 100.00% | ||||||||||||||||||||||||||||||||
The 2007 Omnibus Incentive Plan [Member] | Minimum [Member] | Shareholder of More Than 10% [Member] | |||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Purchase Price of Common Stock, Percent | 110.00% | ||||||||||||||||||||||||||||||||
The 2007 Omnibus Incentive Plan [Member] | Maximum [Member] | Incentive Stock Options (ISOs) [Member] | |||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | 10 years | ||||||||||||||||||||||||||||||||
The 2017 Omnibus Incentive Plan [Member] | |||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Annual Increase in Shares Authorized, Percentage of Outstanding Common Stock | 4.00% | 4.00% | |||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 2,318,486 | 2,318,486 | |||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 1,789,174 | 1,789,174 | |||||||||||||||||||||||||||||||
The 2017 Omnibus Incentive Plan [Member] | Incentive Stock Options (ISOs) [Member] | |||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Purchase Price of Common Stock, Percentage of Stock Owned by Shareholder, Minimum | 10.00% | ||||||||||||||||||||||||||||||||
The 2017 Omnibus Incentive Plan [Member] | Share-based Payment Arrangement, Option [Member] | |||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 4 years | ||||||||||||||||||||||||||||||||
The 2017 Omnibus Incentive Plan [Member] | Minimum [Member] | |||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Purchase Price of Common Stock, Percent | 100.00% | ||||||||||||||||||||||||||||||||
The 2017 Omnibus Incentive Plan [Member] | Minimum [Member] | Shareholder of More Than 10% [Member] | Incentive Stock Options (ISOs) [Member] | |||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Purchase Price of Common Stock, Percent | 110.00% | ||||||||||||||||||||||||||||||||
The 2017 Omnibus Incentive Plan [Member] | Maximum [Member] | |||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | 10 years | ||||||||||||||||||||||||||||||||
The 2017 Omnibus Incentive Plan [Member] | Maximum [Member] | Shareholder of More Than 10% [Member] | Incentive Stock Options (ISOs) [Member] | |||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | 5 years |
Note 13 - Equity-based Compen_4
Note 13 - Equity-based Compensation - Stock Options Outstanding (Details) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Outstanding awards (in shares) | 3,374,000 | 2,960,000 | 1,489,000 | |
Outstanding, weighted-average exercise price (in dollars per share) | $ 4.13 | $ 5.16 | $ 8.38 | |
Outstanding, weighted-average remaining contractual life (Year) | 6 years 219 days | 8 years 73 days | 8 years 219 days | 8 years 255 days |
Outstanding, aggregate intrinsic value | $ 43 | $ 8 | $ 2,586 | $ 702 |
Options granted (in shares) | 145,000 | 1,118,000 | 1,616,000 | |
Options granted, weighted-average exercise price (in dollars per share) | $ 0.37 | $ 2.03 | $ 3.03 | |
Options exercised (in shares) | (83,000) | (4,000) | (68,000) | |
Options exercised, weighted-average exercise price (in dollars per share) | $ 2.30 | $ 2.35 | $ 2.72 | |
Options forfeited/cancelled (in shares) | (1,247,000) | (701,000) | (87,000) | |
Options forfeited/cancelled, weighted-average exercise price (in dollars per share) | $ 4.01 | $ 5.12 | $ 22.08 | |
Outstanding awards (in shares) | 2,183,000 | 3,374,000 | 2,960,000 | 1,489,000 |
Outstanding, weighted-average exercise price (in dollars per share) | $ 4.03 | $ 4.13 | $ 5.16 | $ 8.38 |
Vested and expected to vest (in shares) | 2,165,000 | |||
Vested and expected to vest, weighted-average exercise price (in dollars per share) | $ 4.05 | |||
Vested and expected to vest, weighted-average remaining contractual life (Year) | 6 years 182 days | |||
Vested and expected to vest, aggregate intrinsic value | $ 43 | |||
Vested (in shares) | 1,818,000 | |||
Vested, weighted-average exercise price (in dollars per share) | $ 4.44 | |||
Vested, weighted-average remaining contractual life (Year) | 6 years 73 days | |||
Exercisable (in shares) | 1,818,000 | |||
Exercisable, weighted-average exercise price (in dollars per share) | $ 4.44 | |||
Exercisable, weighted-average remaining contractual life (Year) | 6 years 73 days | |||
Restricted Stock Units (RSUs) [Member] | ||||
Restricted stock units granted (in shares) | 204,000 | 12,000 | 49,000 | |
Restricted stock units granted, weighted-average exercise price (in dollars per share) | ||||
Options exercised (in shares) | (4,000) | |||
Restricted stock units vested (in shares) | (209,000) | (39,000) | ||
Restricted stock units vested, weighted-average exercise price (in dollars per share) | ||||
Restricted stock units cancelled (in shares) | (1,000) | (11,000) |
Note 13 - Equity-based Compen_5
Note 13 - Equity-based Compensation - Weighted-average Assumptions Used in Determining the Value of Options Granted to Employees and Directors (Details) - Employees and Directors [Member] - $ / shares | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Expected price volatility | 112.41% | 89.30% | 87.78% |
Expected term (Year) | 6 years 51 days | 5 years 357 days | 6 years 328 days |
Risk-free interest rate | 1.99% | 2.80% | 2.12% |
Dividend yield | 0.00% | 0.00% | 0.00% |
Weighted-average fair value of options granted during the period (in dollars per share) | $ 0.31 | $ 1.51 | $ 2.34 |
Note 13 - Equity-based Compen_6
Note 13 - Equity-based Compensation - Weighted-average Assumptions Used in Determining the Value of Options Granted to Non-employees (Details) - Nonemployees [Member] - $ / shares | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Expected price volatility | 85.03% | 87.41% |
Expected term (Year) | 10 years | 10 years |
Risk-free interest rate | 2.94% | 2.27% |
Dividend yield | 0.00% | 0.00% |
Weighted-average fair value of options granted during the period (in dollars per share) | $ 1.99 | $ 2.40 |
Note 13 - Equity-based Compen_7
Note 13 - Equity-based Compensation - Summary of Stock-based Compensation Expense Included in Results of Operations (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Stock-based compensation expense | $ 486 | $ 671 | $ 2,542 |
Research and Development Expense [Member] | |||
Stock-based compensation expense | 42 | 32 | 113 |
Selling and Marketing Expense [Member] | |||
Stock-based compensation expense | 93 | 141 | 152 |
General and Administrative Expense [Member] | |||
Stock-based compensation expense | $ 351 | $ 498 | $ 2,277 |
Note 14 - License, Collaborat_3
Note 14 - License, Collaboration and Distribution Agreements (Details Textual) - USD ($) | Jun. 01, 2013 | Feb. 07, 2012 | Apr. 30, 2013 | Jan. 31, 2013 | Oct. 31, 2012 | Sep. 30, 2012 | Jan. 31, 2012 | Oct. 31, 2012 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2014 |
Contract with Customer, Liability, Total | $ 41,000 | |||||||||||
Revenue from Contract with Customer, Including Assessed Tax | $ 6,599,000 | $ 12,508,000 | $ 18,230,000 | |||||||||
Partner Pharmacies [Member] | Revenue Benchmark [Member] | Customer Concentration Risk [Member] | ||||||||||||
Concentration Risk, Percentage | 21.00% | 1.00% | 0.00% | |||||||||
Reallocated from Deferred Revenue [Member] | ||||||||||||
Stockholders' Equity, Period Increase (Decrease), Total | $ 600,000 | |||||||||||
Avenova Product [Member] | ||||||||||||
Revenue from Contract with Customer, Including Assessed Tax | $ 1,000,000 | |||||||||||
China Pioneer [Member] | ||||||||||||
Proceeds from Issuance or Sale of Equity, Total | $ 2,500,000 | |||||||||||
Unit Purchase Agreement Shares Per Unit | 1 | |||||||||||
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right | 1 | |||||||||||
Excess Fair Value Over Proceeds Received From Purchase | $ 1,000,000 | |||||||||||
China Pioneer [Member] | Tranche One [Member] | ||||||||||||
Purchase Agreement Units | 800,000 | |||||||||||
China Pioneer [Member] | Tranche Two [Member] | ||||||||||||
Purchase Agreement Units | 1,200,000 | |||||||||||
Purchase Agreement Unit Price Per Share | $ 1.25 | |||||||||||
Purchase Unit Agreement Total Units Fair Value | $ 3,500,000 | |||||||||||
China Pioneer [Member] | Neutrophase [Member] | ||||||||||||
Proceeds from Collaborators | $ 312,500 | $ 312,500 | $ 625,000 | |||||||||
Maximum Possible Sales Discounts | $ 500,000 | |||||||||||
Integrated Healing Technologies, LLC [Member] | Neutrophase [Member] | ||||||||||||
Proceeds from Collaborators | $ 750,000 | |||||||||||
Virbac [Member] | Auriclosene (NVC-422) [Member] | ||||||||||||
Proceeds from Collaborators | $ 250,000 | |||||||||||
Principal Business Enterprise, Inc. [Member] | Neutrophase [Member] | ||||||||||||
Proceeds from Collaborators | $ 200,000 | |||||||||||
China Pioneer and Principal Business Enterprise Inc. [Member] | Samples and Future Products [Member] | ||||||||||||
Contract with Customer, Liability, Revenue Recognized | $ 41,000 | |||||||||||
McKesson Corporation [Member] | Avenova Product [Member] | ||||||||||||
Contract with Customer, Liability, Revenue Recognized | 4,600,000 | 11,000,000 | $ 13,600,000 | |||||||||
McKesson Corporation [Member] | Avenova Product [Member] | Accounts Payable and Accrued Liabilities [Member] | ||||||||||||
Contract with Customer, Liability, Total | 400,000 | 1,400,000 | ||||||||||
McKesson Corporation [Member] | Avenova Product [Member] | Prepaid Expenses and Other Current Assets [Member] | ||||||||||||
Contract with Customer, Rebate Liability, Current | $ 400,000 | $ 900,000 |
Note 14 - License, Collaborat_4
Note 14 - License, Collaboration and Distribution Agreements - Changes in Assets and Liabilities (Details) $ in Thousands | 12 Months Ended |
Dec. 31, 2019USD ($) | |
Contract Liabilities: Deferred Revenue, Balance at beginning of the period | $ 41 |
Contract Liabilities: Deferred Revenue, additions | |
Contract Liabilities: Deferred Revenue, deductions | (41) |
Contract Liabilities: Deferred Revenue, Balance at the end of the period | |
Contract Liabilities: Accrued Liabilities,Balance at beginning of the period | 1,432 |
Contract Liabilities: Accrued Liabilities, additions | 5,708 |
Contract Liabilities: Accrued Liabilities, deductions | (6,706) |
Contract Liabilities: Accrued Liabilities, Balance at the end of the period | 434 |
Contract Liabilities, Balance at beginning of the period | 1,473 |
Contract Liabilities, additions | 5,708 |
Contract Liabilities, deductions | (6,747) |
Contract Liabilities, Balance at the end of the period | $ 434 |
Note 14 - License, Collaborat_5
Note 14 - License, Collaboration and Distribution Agreements - Total Revenues (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Total sales, net | $ 6,599 | $ 12,508 | $ 18,230 |
Transferred over Time [Member] | |||
Total sales, net | 1,473 | 1,453 | |
Transferred at Point in Time [Member] | |||
Total sales, net | $ 5,126 | $ 11,055 |
Note 14 - License, Collaborat_6
Note 14 - License, Collaboration and Distribution Agreements - Revenue Recognized (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Total sales, net | $ 6,599 | $ 12,508 | $ 18,230 |
License Collaboration and Distribution Agreements [Member] | |||
Total sales, net | 250 | 203 | 2,059 |
Technology Service [Member] | License Collaboration and Distribution Agreements [Member] | |||
Total sales, net | 41 | 34 | 103 |
Product [Member] | |||
Total sales, net | 6,556 | 12,474 | 18,127 |
Product [Member] | License Collaboration and Distribution Agreements [Member] | |||
Total sales, net | $ 209 | $ 169 | $ 1,956 |
Note 15 - Employee Benefit Pl_2
Note 15 - Employee Benefit Plan (Details Textual) - USD ($) | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
The 401(k) Plan [Member] | ||
Defined Contribution Plan, Employer Discretionary Contribution Amount | $ 9 | $ 14,000 |
Note 16 - Income Taxes (Details
Note 16 - Income Taxes (Details Textual) - USD ($) $ in Millions | 12 Months Ended | 36 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2019 | |
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount | $ 2.2 | $ 0.9 | $ 10.1 |
Domestic Tax Authority [Member] | |||
Open Tax Year | 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 | ||
State and Local Jurisdiction [Member] | |||
Open Tax Year | 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 |
Note 16 - Income Taxes - Loss B
Note 16 - Income Taxes - Loss Before Provision for Income Taxes (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
United States | $ (9,652) | $ (6,541) | $ (7,400) |
International | |||
Loss before provision for income taxes | $ (9,652) | $ (6,541) | $ (7,400) |
Note 16 - Income Taxes - Federa
Note 16 - Income Taxes - Federal and State Income Tax Provisions (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Current | |||
Federal | |||
State | 6 | 4 | 3 |
Total current tax expense | 6 | 4 | 3 |
Deferred | |||
Federal | |||
State | |||
Other | |||
Total deferred tax expense | |||
Income tax provision | $ 6 | $ 4 | $ 3 |
Note 16 - Income Taxes - Summar
Note 16 - Income Taxes - Summary of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Deferred tax assets: | ||
Net operating losses | $ 29,427 | $ 26,790 |
Accruals | 222 | 446 |
Deferred revenue | 10 | |
Stock options | 1,191 | 1,425 |
Other deferred tax assets | 765 | 716 |
Property and equipment | 6 | 9 |
Lease liability | 301 | |
Total deferred tax assets | 31,912 | 29,396 |
Lease asset | (301) | |
Total deferred tax liabilities | (301) | |
Valuation allowance | (31,611) | (29,396) |
Net deferred taxes |
Note 16 - Income Taxes - Summ_2
Note 16 - Income Taxes - Summary of Net operating Loss and Tax Credit Carryforwards (Details) $ in Thousands | Dec. 31, 2019USD ($) |
Domestic Tax Authority [Member] | Internal Revenue Service (IRS) [Member] | Not Subject to Expiration [Member] | |
Net operating losses | $ 16,151 |
Domestic Tax Authority [Member] | Internal Revenue Service (IRS) [Member] | Expiration Years 2024 - 2037 [Member] | |
Net operating losses | 94,886 |
Domestic Tax Authority [Member] | Internal Revenue Service (IRS) [Member] | Expiration Years 2026 - 2035 [Member] | |
Tax credits | 1,316 |
State and Local Jurisdiction [Member] | Not Subject to Expiration [Member] | |
Tax credits | 325 |
State and Local Jurisdiction [Member] | Expiration Years 2028 - 2037 [Member] | |
Net operating losses | $ 90,455 |
Note 16 - Income Taxes - Unreco
Note 16 - Income Taxes - Unrecognized Tax Benefit (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Unrecognized benefit - beginning of period | $ 974 | $ 931 |
Gross decreases - prior period tax positions | 43 | |
Unrecognized benefit - end of period | $ 974 | $ 974 |
Note 16 - Income Taxes - Effect
Note 16 - Income Taxes - Effective Income Tax Rate Reconciliation (Details) | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Statutory Rate | 21.00% | 21.00% | 34.00% |
State Tax | 3.10% | (0.30%) | 0.20% |
Stock Based Compensation Expense | (3.70%) | (4.30%) | (2.10%) |
Change in Valuation Allowance | (23.00%) | (13.00%) | 141.70% |
Other | (0.30%) | (0.50%) | 0.70% |
Warrant/equity expenses | 1.70% | 4.20% | (0.50%) |
Impact of 162m | 1.10% | 1.30% | (4.60%) |
Tax Reform - Tax Rate Change | 0.00% | 0.00% | (169.50%) |
Impact of ASC 606 | 0.00% | (8.50%) | 0.00% |
Total | (0.10%) | (0.10%) | (0.10%) |
Note 17 - Related Party Trans_2
Note 17 - Related Party Transactions (Details Textual) - USD ($) | 1 Months Ended | 3 Months Ended | 12 Months Ended | |||
Feb. 29, 2020 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Accounts Receivable, Related Parties | $ 0 | $ 39,000 | ||||
Related Party Transaction, Expenses from Transactions with Related Party | 326,000 | 359,000 | $ 0 | |||
Interest Expense, Related Party | 18,000 | |||||
Amortization of Consulting Fees [Member] | ||||||
Related Party Transaction, Expenses from Transactions with Related Party | 83,000 | |||||
China Pioneer [Member] | ||||||
Revenue from Related Parties | 250,000 | 77,000 | 27,000 | |||
China Pioneer [Member] | Selling and Marketing Expense [Member] | ||||||
Related Party Costs | $ 176,000 | $ 426,000 | $ 102,000 | |||
China Kington [Member] | Broker Fee for Issuance of Promissory Note [Member] | ||||||
Related Party Transaction, Expenses from Transactions with Related Party | $ 144 | $ 20,000 | ||||
Director Bob Wu [Member] | Consulting Fee Pursuant to Consulting Agreement [Member] | ||||||
Related Party Transaction, Expenses from Transactions with Related Party | $ 50,000 | |||||
Director Bob Wu [Member] | Consulting Fee Pursuant to Consulting Agreement [Member] | Forecast [Member] | ||||||
Related Party Transaction, Expenses from Transactions with Related Party | $ 50,000 |