Document And Entity Information
Document And Entity Information - USD ($) | 12 Months Ended | ||
Dec. 31, 2021 | Mar. 29, 2022 | Jun. 30, 2021 | |
Document Information Line Items | |||
Entity Registrant Name | SENESTECH, INC. | ||
Trading Symbol | SNES | ||
Document Type | 10-K | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Common Stock, Shares Outstanding | 12,212,283 | ||
Entity Public Float | $ 19,477,004 | ||
Amendment Flag | false | ||
Entity Central Index Key | 0001680378 | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No | ||
Entity Filer Category | Non-accelerated Filer | ||
Entity Well-known Seasoned Issuer | No | ||
Document Period End Date | Dec. 31, 2021 | ||
Document Fiscal Year Focus | 2021 | ||
Document Fiscal Period Focus | FY | ||
Entity Small Business | true | ||
Entity Emerging Growth Company | false | ||
Entity Shell Company | false | ||
ICFR Auditor Attestation Flag | false | ||
Document Annual Report | true | ||
Document Transition Report | false | ||
Entity File Number | 001-37941 | ||
Entity Incorporation, State or Country Code | DE | ||
Entity Tax Identification Number | 20-2079805 | ||
Entity Address, Address Line One | 23460 N | ||
Entity Address, Address Line Two | 19th Avenue | ||
Entity Address, Address Line Three | Suite 110 | ||
Entity Address, City or Town | Phoenix | ||
Entity Address, State or Province | AZ | ||
Entity Address, Postal Zip Code | 85027 | ||
City Area Code | (928) | ||
Local Phone Number | 779-4143 | ||
Title of 12(b) Security | Common Stock, $0.001 par value | ||
Security Exchange Name | NASDAQ | ||
Entity Interactive Data Current | Yes | ||
Auditor Firm ID | 2738 | ||
Auditor Name | M&K CPAS, PLLC | ||
Auditor Location | Houston, TX |
Balance Sheets
Balance Sheets - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Current assets: | ||
Cash | $ 9,326 | $ 3,643 |
Accounts receivable trade, net | 77 | 25 |
Prepaid expenses | 230 | 178 |
Inventory | 1,001 | 945 |
Deposits | 22 | 28 |
Total current assets | 10,656 | 4,819 |
Right to use asset-operating leases | 511 | 665 |
Property and equipment, net | 334 | 538 |
Total assets | 11,501 | 6,022 |
Current liabilities: | ||
Short-term debt | 32 | 98 |
Accounts payable | 333 | 404 |
Accrued expenses | 578 | 292 |
Total current liabilities | 943 | 794 |
Long-term debt, net | 673 | |
Operating lease liability | 523 | 671 |
Total liabilities | 1,466 | 2,138 |
Commitments and contingencies (See note 13) | ||
Stockholders’ equity: | ||
Common stock, $0.001 par value, 100,000,000 shares authorized, 12,207,283 and 5,099,512 shares issued and outstanding at December 31, 2021 and December 31, 2020, respectively | 12 | 5 |
Additional paid-in capital | 122,531 | 108,119 |
Accumulated deficit | (112,508) | (104,240) |
Total stockholders’ equity | 10,035 | 3,884 |
Total liabilities and stockholders’ equity | $ 11,501 | $ 6,022 |
Balance Sheets (Parentheticals)
Balance Sheets (Parentheticals) - $ / shares | Dec. 31, 2021 | Dec. 31, 2020 |
Statement of Financial Position [Abstract] | ||
Common stock, par value (in Dollars per share) | $ 0.001 | $ 0.001 |
Common stock, shares authorized | 100,000,000 | 100,000,000 |
Common stock, shares issued | 12,207,283 | 5,099,512 |
Common stock, shares outstanding | 12,207,283 | 5,099,512 |
Statements of Operations and Co
Statements of Operations and Comprehensive Loss - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Revenue: | ||
Grant revenue | $ 24 | $ 24 |
Sales | 576 | 258 |
Total revenue | 600 | 282 |
Cost of sales | 356 | 281 |
Gross profit | 244 | 1 |
Operating expenses: | ||
Research and development | 1,954 | 1,494 |
Selling, general and administrative | 7,224 | 6,440 |
Total operating expenses | 9,178 | 7,934 |
Net operating loss | (8,934) | (7,933) |
Other income (expense): | ||
Interest income | 4 | 3 |
Interest expense | (11) | (28) |
Payroll Protection Program loan forgiveness | 673 | |
Other income | 21 | |
Total other income | 666 | (4) |
Net loss and comprehensive loss | (8,268) | (7,937) |
Deemed dividend-warrant price protection-revaluation adjustment | 436 | |
Net loss attributable to common shareholders | $ (8,268) | $ (8,373) |
Weighted average common shares outstanding - basic and fully diluted (in Shares) | 11,191,814 | 3,006,475 |
Net loss per common share - basic and fully diluted (in Dollars per share) | $ (0.74) | $ (2.78) |
Statements of Changes in Stockh
Statements of Changes in Stockholders’ Equity (Deficit) - USD ($) $ in Thousands | Common Stock | Additional Paid-In Capital | Accumulated Deficit | Total |
Balance at Dec. 31, 2019 | $ 1 | $ 98,433 | $ (95,867) | $ 2,567 |
Balance (in Shares) at Dec. 31, 2019 | 1,414,671 | |||
Stock based compensation | 645 | 645 | ||
Issuance of common stock, sold for cash, net | $ 2 | 5,739 | 5,741 | |
Issuance of common stock, sold for cash, net (in Shares) | 1,928,180 | |||
Issuance of common stock upon exercise of warrants | $ 2 | 2,628 | 2,630 | |
Issuance of common stock upon exercise of warrants (in Shares) | 1,700,680 | |||
Issuance of common stock upon cashless exercise of warrants | 238 | 238 | ||
Issuance of common stock upon cashless exercise of warrants (in Shares) | 51,414 | |||
Issuance costs of common stock for services | ||||
Issuance costs of common stock for services (in Shares) | 4,543 | |||
Issuance of common stock for fractional shares-20-1 reverse split | ||||
Issuance of common stock for fractional shares-20-1 reverse split (in Shares) | 24 | |||
Warrant antidilution price protection adjustment | 436 | 436 | ||
Net loss | (8,373) | (8,373) | ||
Balance at Dec. 31, 2020 | $ 5 | 108,119 | (104,240) | 3,884 |
Balance (in Shares) at Dec. 31, 2020 | 5,099,512 | |||
Stock based compensation | 765 | 765 | ||
Shares forfeited for payment of employee withholding taxes related to share based awards | (17) | (17) | ||
Issuance of common stock, sold for cash, net | $ 6 | 12,415 | 12,421 | |
Issuance of common stock, sold for cash, net (in Shares) | 6,163,854 | |||
Issuance of common stock upon exercise of warrants | $ 1 | 1,249 | 1,250 | |
Issuance of common stock upon exercise of warrants (in Shares) | 922,966 | |||
Issuance costs of common stock for services | ||||
Issuance costs of common stock for services (in Shares) | 20,951 | |||
Net loss | (8,268) | (8,268) | ||
Balance at Dec. 31, 2021 | $ 12 | $ 122,531 | $ (112,508) | $ 10,035 |
Balance (in Shares) at Dec. 31, 2021 | 12,207,283 |
Statements of Cash Flows
Statements of Cash Flows - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
CASH FLOWS FROM OPERATING ACTIVITIES | ||
Net loss | $ (8,268) | $ (7,937) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Depreciation and amortization | 303 | 288 |
Stock-based compensation | 765 | 645 |
Paycheck Protection Program loan forgiveness | (646) | |
Gain on sale of equipment | (21) | |
(Increase) decrease in current assets: | ||
Accounts receivable - trade | (52) | 1 |
Accounts receivable - other | 123 | |
Other assets | 12 | 11 |
Prepaid expenses | (52) | 79 |
Inventory | (56) | 235 |
Deposits | (8) | |
Increase (decrease) in current liabilities: | ||
Accounts payable | (71) | 139 |
Accrued expenses | 286 | (663) |
Net cash used in operating activities | (7,779) | (7,108) |
CASH FLOWS FROM INVESTING ACTIVITIES | ||
Cash received on sale of property and equipment | 1 | 47 |
Purchase of property and equipment | (100) | (114) |
Net cash provided by (used in) investing activities | (99) | (67) |
CASH FLOWS FROM FINANCING ACTIVITIES | ||
Proceeds from the issuance of common stock, net | 12,421 | 5,741 |
Proceeds from the issuance of notes payable | 646 | |
Repayments of notes payable | (39) | (73) |
Repayments of finance lease obligations | (54) | (62) |
Proceeds from the exercise of warrants | 1,250 | 2,630 |
Payment of employee withholding taxes related to share based awards | (17) | |
Net cash provided by financing activities | 13,561 | 8,882 |
NET CHANGE IN CASH | 5,683 | 1,707 |
CASH AT BEGINNING OF PERIOD | 3,643 | 1,936 |
CASH AT END OF PERIOD | 9,326 | 3,643 |
SUPPLEMENTAL INFORMATION: | ||
Interest paid | 11 | 28 |
Income taxes paid | ||
NON-CASH INVESTING AND FINANCING ACTIVITIES: | ||
Forgiveness of accrual in warrant exercise | 238 | |
Deemed dividend | $ 436 |
Organization and Description of
Organization and Description of Business | 12 Months Ended |
Dec. 31, 2021 | |
Accounting Policies [Abstract] | |
Organization and Description of Business | 1. Organization and Description of Business SenesTech, Inc. (referred to in this report as “SenesTech,” the “Company,” “we” or “us”) was formed in July 2004 and incorporated in the state of Nevada. The Company subsequently reincorporated in the state of Delaware in November 2015. Our corporate headquarters is in Phoenix, Arizona. We have developed and are commercializing a global, proprietary technology for managing animal pest populations, initially rat populations, through fertility control. Although there are myriad tools available to control rat populations, most rely on some form of lethal method to achieve effectiveness. Each of these solutions is inherently limited by rat species’ resilience and survival mechanisms as well as their extraordinary rate of reproduction. ContraPest ® Rats have plagued humanity throughout history. They pose significant threats to the health and food security of many communities. In addition, rodents cause significant product loss and damage through consumption and contamination. Rats also cause significant damage to critical infrastructure by burrowing beneath foundations and gnawing on electrical wiring, insulation, fire proofing systems, electronics and equipment. The most prevalent solution to rat infestations is the use of increasingly powerful rodenticides. Although these solutions provide short term results, there are growing concerns about secondary exposure and bioaccumulation of rodenticides in the environment, as well as concerns about rodenticides that have no antidotes. The pest management industry and Pest Management Professionals (“PMPs”) are being asked for new solutions that are both effective and less toxic. Our goal is to provide customers with not only a solution to combat their most difficult rat problems, but also offer a non-lethal option to serve customers that are looking to decrease or remove the amount of rodenticide used in their pest control programs. ContraPest is a liquid bait containing the active ingredients 4-vinylcyclohexene diepoxide (“VCD”) and triptolide. ContraPest limits reproduction of male and female rats beginning with the first breeding cycle following consumption. ContraPest is being marketed for use in controlling Norway and roof rat populations. SenesTech began the registration process with the United States Environmental Protection Agency (the “EPA”) for ContraPest on August 23, 2015. On August 2, 2016, the EPA granted an unconditional registration for ContraPest as a Restricted Use Product (“RUP”), due to the need for applicator expertise for deployment. On October 18, 2018, the EPA approved the removal of the RUP designation. We believe ContraPest is the first and only non-lethal, fertility control product approved by the EPA for the management of rodent populations. In addition to the EPA registration of ContraPest in the United States, we must obtain registration from the various state regulatory agencies prior to selling in each state. To date, we have received registration for ContraPest in all 50 states and the District of Columbia, 48 of which have approved the removal of the Restricted Use designation. In addition to product registration, the EPA also approves all labeling (the container label, instructional inserts, and the Safety Data Sheet (SDS)) of ContraPest. Generally, states accept the EPA approved label as is. ContraPest’s labeling was submitted to states at initial registration and is resubmitted during state scheduled reregistration or for any significant labeling change requiring EPA approval. We expect to continue to pursue regulatory approvals and amendments to the existing U.S. registration for ContraPest to broaden the marketability and use of ContraPest, and if ContraPest begins to generate sufficient revenue, regulatory approvals for additional jurisdictions beyond the United States. In certain cases, our EPA and state registrations require completion of additional testing and certifications even though we have received approval for the product or its labelling. We continue to seek to comply with these requirements. The Company also continues to research and develop enhancements to ContraPest that align with our target verticals and other potential fertility control options for additional species. Reverse Stock Split On February 4, 2020, we amended our amended and restated certificate of incorporation to effect a 1-for-20 reverse split of our issued and outstanding shares of our common stock. The accompanying condensed financial statements and notes thereto give retrospective effect to the reverse stock split for all periods presented. All issued and outstanding common stock, options and warrants exercisable for common stock, restricted stock units, preferred stock conversions to common stock and per share amounts contained in our condensed financial statements have been retrospectively adjusted. Going Concern Although our audited financial statements for the years ended December 31, 2021 and December 31, 2020 were prepared under the assumption that we would continue our operations as a going concern, the report of our independent registered public accounting firm that accompanies our financial statements for the years ended December 31, 2021 and December 31, 2020 contains a going concern qualification in which such firm expressed substantial doubt about our ability to continue as a going concern, based on the financial statements at that time. Specifically, as noted above, we have incurred operating losses since our inception, and we expect to continue to incur significant expenses and operating losses for the foreseeable future. These prior losses and expected future losses have had, and will continue to have, an adverse effect on our financial condition. If we encounter continued issues or delays in the commercialization of ContraPest, our prior losses and expected future losses could have an adverse effect on our financial condition and negatively impact our ability to fund continued operations, obtain additional financing in the future and continue as a going concern. There are no assurances that such financing, if necessary, will be available to us at all or will be available in sufficient amounts or on reasonable terms. Our financial statements do not include any adjustments that may result from the outcome of this uncertainty. If we are unable to generate additional funds in the future through additional financings, sales of our products, licensing fees, royalty payments or from other sources or transactions, we will exhaust our resources and will be unable to continue operations. Need for Additional Capital Since our inception, we have sustained significant operating losses in the course of our research and development and commercialization activities and expect such losses to continue for the near future. We have generated limited revenue to date from product sales, research grants and licensing fees received under our former license agreement with Neogen. We have primarily funded our operations to date through the sale of equity securities, including convertible preferred stock, common stock and warrants to purchase common stock. See Note 9 Common Stock Warrants and Common Stock Warrant Liability for a description of our public equity sales. We have also raised capital through debt financing, consisting primarily of convertible notes and government loan programs, and, to a lesser extent, payments received in connection with product sales, research grants and licensing fees. Through December 31, 2021, we had received net proceeds of $84.3 million from our sales of common stock, preferred stock and warrant exercises and issuance of convertible and other promissory notes, an aggregate of $1.7 million from licensing fees and an aggregate of $1.5 million in net product sales. At December 31, 2021, we had an accumulated deficit of $112.5 million and cash and cash equivalents of $9.3 million. As discussed in Note 8 - Borrowings on April 15, 2020, we received cash proceeds of $645,700 from the Paycheck Protection Program (“PPP”) of the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”). We used the proceeds from the PPP loan to retain employees, maintain payroll and make lease, interest and utility payments. This loan was fully forgiven, under terms of the PPP, on June 14, 2021. Our ultimate success depends upon the outcome of a combination of factors, including the following: (i) successful commercialization of ContraPest and maintaining and obtaining regulatory approval of our products and product candidates; (ii) market acceptance, commercial viability and profitability of ContraPest and other products; (iii) the ability to market our products and establish an effective sales force and marketing infrastructure to generate significant revenue; (iv) the success of our research and development; (v) the ability to retain and attract key personnel to develop, operate and grow our business; and (vi) our ability to meet our working capital needs. Based upon our current operating plan, we expect that cash and cash equivalents at December 31, 2021, in combination with anticipated revenue and any additional sales of our equity securities, will be sufficient to fund our current operations for at least the next 12 months. We have evaluated and will continue to evaluate our operating expenses and will concentrate our resources toward the successful commercialization of ContraPest in the United States. However, if anticipated revenue targets and margin targets are not achieved or expenses are more than we have budgeted, we may need to raise additional financing before that time. If we need more financing, including within the next 12 months, and we are unable to raise necessary capital through the sale of our securities, we may be required to take other measures that could impair our ability to be successful and operate as a going concern. In any event, we may require additional capital in order to fund our operating losses and research and development activities before we become profitable and may opportunistically raise capital. We may never achieve profitability or generate positive cash flows, and unless and until we do, we will continue to need to raise capital through equity or debt financing. If such equity or debt financing is not available at adequate levels or on acceptable terms, we may need to delay, limit or terminate commercialization and development efforts or discontinue operations. Major Customer We did not have any customers that accounted for 10% or more of sales for the year ended December 31, 2021. We did have one major customer that accounted for approximately $44, or 15% of sales, for the year ended December 31, 2020. We expect to maintain the relationships with these customers. |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2021 | |
Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | 2. Summary of Significant Accounting Policies Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts and classification of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements and reported amounts of revenues and expenses during the reporting period. The significant estimates in our financial statements include the valuation of preferred stock, if issued, common stock and related warrants, and other stock-based awards. Actual results could differ from such estimates. Reclassifications Certain prior year amounts have been reclassified to conform to the current year presentation. These reclassifications had no impact on net earnings, financial position or cash flows. Cash and Cash Equivalents We consider money market fund investments to be cash equivalents. We had cash equivalents in the form of money market fund investment of $8,800 and $1,500 at December 31, 2021 and December 31, 2020, respectively, included in cash as reported. Accounts Receivable-Trade Accounts receivable-trade consist primarily of receivables from customers. We provide an allowance for doubtful trade receivables equal to the estimated uncollectible amounts. That estimate is based on historical collection experience, current economic and market conditions and a review of the current status of each customer’s trade accounts receivable. We did not have any allowance for doubtful trade receivables at December 31, 2021 or at December 31, 2020. Inventories Inventories are stated at the lower of cost or market value, using the first-in, first-out convention. Inventories consist of raw materials, work in progress and finished goods. Raw materials are stocked to reduce the risk of impact on manufacturing for potential supply interruptions due to the COVID-19 pandemic or long lead times on certain ingredients. Reserves for obsolete inventory consist of reserves primarily related to obsolete product containers and delivery systems. Components of inventory are: December 31, 2021 2020 Raw materials $ 937 $ 950 Work in progress 5 24 Finished goods 88 94 Total inventory 1,030 1,068 Less: Reserve for obsolete (29 ) (123 ) Total net inventory $ 1,001 $ 945 Prepaid Expenses Prepaid expenses consist primarily of payments made for director and officer insurance, marketing services, rent, legal and inventory purchase deposits and seminar/trade show fees to be expensed in the current year. Property and Equipment Property and equipment are stated at cost less accumulated depreciation. Equipment held under finance leases are stated at the present value of minimum lease payments less accumulated amortization. Depreciation on property and equipment is computed using the straight-line method over the estimated useful lives of the respective assets. The cost of leasehold improvements is amortized over the life of the improvement or the term of the lease, whichever is shorter. Equipment held under finance leases are amortized over the shorter of the lease term or estimated useful life of the asset. The Company incurs maintenance costs on its major equipment. Repair and maintenance costs are expensed as incurred. Impairment of Long-Lived Assets Long-lived assets, such as property and equipment, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. If circumstances require long-lived assets or asset groups to be tested for possible impairment, the Company compares the undiscounted cash flows expected to be generated from the use of the asset or asset group to its carrying amount. If the carrying amount of the long-lived asset or asset group is not recoverable on an undiscounted cash flow basis, an impairment charge is recognized to the extent that the carrying amount exceeds its fair value. Fair value is determined through various valuation techniques, such as discounted cash flow models and the use of third- party independent appraisals. We have not recorded an impairment of long-lived assets since our inception. Revenue Recognition Effective January 1, 2018, we adopted Accounting Standards Codification (“ASC”) 606 — Revenue from Contracts with Customers . We recognize revenue when product is shipped at a fixed selling price on payment terms of 30 to 120 days from invoicing. We recognize other revenue earned from pilot studies, consulting and implementation services upon the performance of specific services under the respective service contract. We derive revenue primarily from commercial sales of products, net of discounts and promotions, as well as consulting and implementation services provided in conjunction with our product deployments. Research and Development Research and development costs are expensed as incurred. Research and development expenses primarily consist of salaries and benefits for research and development employees, stock-based compensation, consulting fees, lab supplies, costs incurred related to conducting scientific trials and field studies, regulatory compliance costs, as well as manufacturing costs associated with process improvement and other research. Research and development expenses include an allocation of facilities related costs, including depreciation of equipment. Stock-based Compensation Stock-based awards, consisting of stock options and restricted stock units expected to be settled in shares of our common stock, are recorded as equity awards. The grant date fair value of these awards is measured using the Black-Scholes option pricing model for stock options and grant date market value for restricted stock units. We expense the grant date fair value of our stock-based awards on a straight-line basis over their respective vesting periods. The stock-based compensation expense recorded for the 12 months ended December 31, 2021 and 2020, is as follows: Years Ended 2021 2020 Research and development $ 3 $ 9 General and administrative 762 636 Total stock-based compensation expense $ 765 $ 645 See Note 11 – Stock-Based Compensation for additional discussion on stock-based compensation. Income Taxes We account for income taxes under the asset and liability method, which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements. Under this method, deferred tax assets and liabilities are determined based on the differences between the financial statements and tax bases of assets and liabilities and net operating loss carryforwards using enacted tax rates in effect for the year in which the differences are expected to reverse. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in the period that includes the enactment date. We record net deferred tax assets to the extent we believe these assets will more likely than not be realized. These deferred tax assets are subject to periodic assessments as to recoverability and if it is determined that it is more likely than not that the benefits will not be realized, valuation allowances are recorded which would increase the provision for income taxes. In making such determination, we consider all available positive and negative evidence, including future reversals of existing taxable temporary differences, projected future taxable income, tax planning strategies and recent financial operations. We currently maintain a full valuation allowance against its deferred tax assets. We apply a more-likely-than-not recognition threshold for all tax uncertainties. Only those benefits that have a greater than fifty percent likelihood of being sustained upon examination by the taxing authorities are recognized. Based on our evaluation, we have concluded there are no significant uncertain tax positions requiring recognition in our financial statements. We recognize interest and/or penalties related to uncertain tax positions in income tax expense. There are no uncertain tax positions as of December 31, 2021 or December 31, 2020 and as such, no interest or penalties were recorded in income tax expense. Comprehensive Loss Net loss and comprehensive loss were the same for all periods presented; therefore, a separate statement of comprehensive loss is not included in the accompanying financial statements. Loss Per Share Attributable to Common Stockholders Basic loss per share attributable to common stockholders is calculated by dividing the net loss attributable to common stockholders by the weighted average number of common shares outstanding during the period. Diluted loss per share attributable to common stockholders is computed by dividing the loss attributable to common stockholders by the weighted average number of common shares and potentially dilutive securities outstanding for the period determined using the treasury stock and if-converted methods. For purposes of the computation of diluted loss per share attributable to common stockholders, common stock purchase warrants, restricted stock units and common stock options are considered to be potentially dilutive securities but have been excluded from the calculation of diluted loss per share attributable to common stockholders because their effect would be anti-dilutive given the net loss reported for the years ended December 31, 2021 and 2020. Therefore, basic and diluted loss per share attributable to common stockholders was the same for all periods presented. The following table sets forth the outstanding potentially dilutive securities that have been excluded in the calculation of diluted loss per share attributable to common stockholders (in common stock equivalent shares): December 31, 2021 2020 Common stock purchase warrants 4,531,447 2,582,697 Restricted stock unit 667 32,072 Common stock options 1,087,820 496,471 Total 5,619,934 3,111,240 Accounting Standards Issued but Not Yet Adopted There have been no new accounting pronouncements not yet effective or adopted in the current year that we believe have a significant impact, or potential significant impact, to our condensed consolidated financial statements. |
Fair Value Measurements
Fair Value Measurements | 12 Months Ended |
Dec. 31, 2021 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurements | 3. Fair Value Measurements We issued common stock warrants to purchase shares of common stock in June of 2015 (see Note 9 - Common Stock Warrants and Common Stock Warrant Liability) that expired in June of 2020. These warrants contained a cash settlement provision that resulted in a common stock warrant liability that was revalued at the end of each reporting period. We valued these warrant derivatives at fair value. The accounting guidance for fair value, among other things, establishes a consistent framework for measuring fair value and expands disclosure for each major asset and liability category measured at fair value on either a recurring or nonrecurring basis. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (an exit price) in an orderly transaction between market participants at the reporting date. The framework for measuring fair value consists of a three-level valuation hierarchy that prioritizes the inputs to valuation techniques used to measure fair value based upon whether such inputs are observable or unobservable. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect market assumptions made by the reporting entity. The three-level hierarchy for the inputs to valuation techniques is briefly summarized as follows: Level 1 Inputs are unadjusted, quoted prices in active markets for identical assets or liabilities at the measurement date; Level 2— Inputs are observable, unadjusted quoted prices in active markets for similar assets or liabilities, unadjusted quoted prices for identical or similar assets or liabilities in markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the related assets or liabilities; and Level 3— Unobservable inputs that are significant to the measurement of the fair value of the assets or liabilities that are supported by little or no market data. An asset’s or liability’s fair value measurement level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement. Valuation techniques used need to maximize the use of observable inputs and minimize the use of unobservable inputs. Assets and liabilities measured at fair value are based on one or more of the following three valuation techniques: A. Market approach: Prices and other relevant information generated by market transactions involving identical or comparable assets or liabilities. B. Cost approach: Amount that would be required to replace the service capacity of an asset (replacement cost). C. Income approach: Techniques to convert future amounts to a single present amount based upon market expectations, including present value techniques, option-pricing and excess earnings models. Our common stock warrant liabilities were classified as Level 3 because there was limited activity or less transparency around the inputs to valuation. Financial Instruments Not Carried at Fair Value The carrying amounts of our financial instruments, including accounts payable and accrued liabilities, approximate fair value due to their short maturities. The estimated fair value of the long-term debt, not recorded at fair value, are recorded at cost or amortized cost, which was deemed to estimate fair value. |
Credit Risk
Credit Risk | 12 Months Ended |
Dec. 31, 2021 | |
Risks and Uncertainties [Abstract] | |
Credit Risk | 4. Credit Risk We are potentially subject to concentrations of credit risk in our accounts receivable. Credit risk with respect to receivables is limited due to the number of companies comprising our customer base. However, we did identify a potentially uncollectable account at December 31, 2019 and maintained a reserve for this receivable balance of $123. At December 31, 2020, the account was deemed uncollectable and offset against the reserve. At December 31, 2021, we did have two customers that accounted for 33% of total receivables. We deemed these accounts fully collectable. We did not have any potentially uncollectable accounts at December 31, 2021 and therefore, did not record a reserve for uncollectable accounts at December 31, 2021. We do not require collateral or other securities to support its accounts receivable. |
Prepaid Expenses
Prepaid Expenses | 12 Months Ended |
Dec. 31, 2021 | |
Prepaid Expenses Disclosure [Abstract] | |
Prepaid expenses | 5. Prepaid expenses Prepaid expenses consisted of the following: December 31, 2021 2020 Director, officer and other insurance $ 109 $ 18 Marketing programs and conferences 66 106 Patents 41 - Legal retainer - 25 Professional service retainer - 8 Rent - 18 Engineering, software licenses and other 14 3 Total prepaid expenses $ 230 $ 178 |
Property and Equipment
Property and Equipment | 12 Months Ended |
Dec. 31, 2021 | |
Property, Plant and Equipment [Abstract] | |
Property and Equipment | 6. Property and Equipment Property and equipment, net consisted of the following: December 31, Useful Life 2021 2020 Research and development equipment 5 years $ 1,425 $ 1,397 Office and computer equipment 3 years 762 733 Autos 5 years 54 54 Furniture and fixtures 7 years 41 41 Leasehold improvements * 112 283 Construction in progress 45 115 2,439 2,623 Less accumulated depreciation and amortization 2,105 2,085 Total property and equipment $ 334 $ 538 * Shorter of lease term or estimated useful life (1) For the years ended December 31, 2021 and December 31, 2020, we received net proceeds of $1 and $47 in the sale of research and development equipment and office and computer equipment, respectively, resulting in gains on the sale of these assets of $0 and $21 for the years ended December 31, 2021 and December 31, 2020, respectively. Depreciation and amortization expense was approximately $303 and $288 for the years ended December 31, 2021 and 2020, respectively. |
Accrued Expenses
Accrued Expenses | 12 Months Ended |
Dec. 31, 2021 | |
Payables and Accruals [Abstract] | |
Accrued Expenses | 7. Accrued Expenses Accrued expenses consisted of the following: December 31, 2021 2020 Compensation, severance and related benefits $ 524 $ 218 Legal services 17 - Product warranty 18 - Personal property and franchise tax 5 57 Other 14 17 Total accrued expenses $ 578 $ 292 |
Borrowings
Borrowings | 12 Months Ended |
Dec. 31, 2021 | |
Borrowings [Abstract] | |
Borrowings | 8. Borrowings A summary of our borrowings, including finance lease obligations, was as follows: At December 31, 2021 2020 Short-term debt: Current portion of long-term debt $ 32 $ 98 Total short-term debt $ 32 $ 98 Long-term debt: Finance lease obligations $ - $ 79 Other unsecured promissory notes - 692 Total - 771 Less: current portion of long-term debt 32 98 Total long-term debt $ - $ 673 Finance Lease Obligations Finance lease obligations at December 31, 2021 was for manufacturing equipment leased through ENGS Commercial Finance Co. This finance lease expires on April 18, 2022 and carries an interest rate of 11.4%. Other Promissory Notes Also included in the table above is a note payable to Fidelity Capital for the financing of a computing fixed asset. This note expires on July 1, 2022 and carries interest rate of 13.3%. On June 18, 2021, we received notification from BMO Harris Bank National Association as the lender in a promissory note pursuant to the PPP under the CARES Act, that a loan to us under this program in the amount of $645,700 was forgiven in full under the terms of the program. The forgiveness of this note and related interest was recorded as other income on the Statements of Operations and Comprehensive Loss for the year ended December 31, 2021. |
Common Stock Warrants and Commo
Common Stock Warrants and Common Stock Warrant Liability | 12 Months Ended |
Dec. 31, 2021 | |
Warrants Note Disclosure [Abstract] | |
Common Stock Warrants and Common Stock Warrant Liability | 9. Common Stock Warrants and Common Stock Warrant Liability The table below summarizes common stock warrant activity for the years ended December 31, 2021and December 31, 2020, by warrant type.l Issue Date Warrant Type Term Exercise Balance Issued Exercised Expired Balance Issued Exercised Expired Balance 2016 and prior Various Various-2020/2021 Various 17,059 - (9,375 ) (7,684 ) - - - - - November 21, 2017 Common Stock Offering Warrants November 21, 2022 $ 1.3659 (1) 143,501 - - - 143,501 - (21,787 ) - 121,714 November 21, 2017 Dealer Manager Warrants November 21, 2022 $ 30.00 47,250 - (47,250 ) - - - - - - June 20, 2018 Warrant Reissue December 20, 2023 $ 36.40 56,696 - - - 56,696 - - - 56,696 August 13, 2018 Rights Offering Warrants July 25, 2023 $ 23.00 202,943 - - - 202,943 - (499 ) - 202,444 August 13, 2018 Dealer Manager Warrants August 13, 2023 $ 34.50 13,393 - - - 13,393 - - - 13,393 July 16, 2019 Dealer Manager Warrants July 11, 2024 $ 33.75 8,334 - - - 8,334 - - - 8,334 January 28, 2020 Registered Direct Offering July 28, 2025 $ 9.00 - 177,500 - - 177,500 - - - 177,500 January 28, 2020 Dealer Manager Warrants July 28, 2025 $ 10.00 - 13,315 - - 13,315 - - - 13,315 March 6, 2020 Registered Direct Offering September 8, 2025 $ 2.88 - 176,372 (176,372 ) - - - - - - March 6, 2020 Dealer Manager Warrants March 4, 2025 $ 3.76 - 13,228 - - 13,228 - - - 13,228 April 21, 2020 Dealer Manager Warrants April 21, 2025 $ 3.97 - 118,073 - - 118,073 - - - 118,073 April 24, 2020 Registered Direct Offering April 24, 2025 $ 3.05 - 1,574,308 (1,524,308 ) - 50,000 - - - 50,000 October 26, 2020 Private Warrant Inducement April 27, 2026 $ 1.73 - 1,700,680 1,700,680 - (700,680 ) - 1,000,000 October 26, 2020 Dealer Manager Warrants April 27, 2026 $ 2.16 - 85,034 85,034 - - - 85,034 February 2, 2021 Private Placement Agreement August 2, 2026 $ 2.216 - - - - - 2,194,427 - - 2,194,427 February 2, 2021 Dealer Manager Warrants August 2, 2026 $ 2.848 - - - - - 329,164 - - 329,164 March 23, 2021 Dealer Manager Warrants March 23, 2026 $ 2.50 - - - - - 148,125 - - 148,125 489,176 2,582,697 4,531,447 (1) The initial exercise price of these warrants was $30.00 per share. Pursuant to antidilution price adjustment protection contained within these warrants, the initial exercise price of these warrants was adjusted downward to $29.40 on July 24, 2018, the record date of the Right’s Offering and downward to $19.00 per share on August 13, 2018. These warrants were further adjusted downward from $19.00 to $7.13 and to $2.1122 on January 28, 2020 and March 4, 2020, respectively, in connection with separate Registered Direct Offerings. These warrants were further adjusted downward from $2.1122 to $1.3659 on October 26, 2020 in connection with a Registered Direct Offering. These warrants are subject to further adjustment pursuant to antidilution price adjustment protection. As of December 31, 2021, we had 4,531,447 shares of common stock issuable upon exercise of outstanding common stock warrants, at a weighted-average exercise price of $4.00 per share. On November 21, 2017, we issued a total of 232,875 detachable common stock warrants issued with the second public offering of 293,000 shares of our common stock at $20.00 per share. The common stock warrant is exercisable until five years from the date of grant. Our common stock and detachable warrants exist independently as separate securities. As such, we estimated the fair value of the common stock warrants, exercisable at $30.00 per share, to be $661 using a lattice model based on the following significant inputs: common stock price of $20.00; comparable company volatility of 73.8%; remaining term 5 years; dividend yield of 0% and risk-free interest rate of 1.87. The initial exercise price of these warrants was $30.00 per share, which adjusted downward to $29.40 on July 24, 2018, the record date of the Right’s Offering, and downward to $19.00 per share on August 13, 2018, the date of the Rights Offering, pursuant to antidilution price adjustment protection contained within these warrants. The exercise price of the warrants was adjusted downward to $7.13 on January 28, 2020 in connection with a private placement of common stock. Per guidance of ASC 260, we recorded a deemed dividend of $285 on the 143,501 unexercised warrants that contained this antidilution price adjustment protection provision and was calculated as the difference between the fair value of the warrants immediately prior to downward exercise price adjustment and immediately after the adjustment using a Black Scholes model based on the following significant inputs: On January 28, 2020, common stock price of $7.90; comparable company volatility of 73.8%; remaining term 2.82 years; dividend yield of 0% and risk-free interest rate of 1.45%. The exercise price of the warrants was adjusted downward to $2.1122 on March 4, 2020 in connection with a private placement of common stock. Per guidance of ASC 260, we recorded a deemed dividend of $129 on the 143,501 unexercised warrants that contained this antidilution price adjustment protection provision and was calculated as the difference between the fair value of the warrants immediately prior to downward exercise price adjustment and immediately after the adjustment using a Black Scholes model based on the following significant inputs: On March 4, 2020, common stock price of $2.88; comparable company volatility of 74.5%; remaining term 2.71 years; dividend yield of 0% and risk-free interest rate of 0.68%. The exercise price of the warrants was adjusted downward to $1.3659 on October 26, 2020 in connection with an inducement offering of common stock. Per guidance of ASC 260, we recorded a deemed dividend of $22 on the 143,501 unexercised warrants that contained this antidilution price adjustment protection provision and was calculated as the difference between the fair value of the warrants immediately prior to downward exercise price adjustment and immediately after the adjustment using a Black Scholes model based on the following significant inputs: On October 26, 2020, common stock price of $1.47; comparable company volatility of 96.5%; remaining term 2.08 years; dividend yield of 0% and risk-free interest rate of 0.18%. On June 20, 2018, we entered into an agreement with a holder of 56,696 of the November 2017 warrants to exercise its original warrant representing 56,696 shares of common stock for cash at the $30.00 exercise price for gross proceeds of $1.7 million, and we issued to holder a new warrant to purchase 56,696 shares of common stock at an exercise price of $36.40 per share. The new warrant did not contain the antidilution price adjustment protection that was contained within the exercised warrants. In June 2018, we recorded stock compensation expense of $1,700 representing the fair value of the of 56,696 inducement warrants issued. We estimated the fair value of the common stock warrants, exercisable at $36.40 per share, to be $1,700 using a Black Scholes model based on the following significant inputs: common stock price of $42.20; comparable company volatility of 72.6%; remaining term 5 years; dividend yield of 0% and risk-free interest rate of 2.8%. Also, in June 2018, an additional 17,088 of the November 8, 2017 warrants that were in the money at the time of exercise, were exercised for gross proceeds of $513. On August 13, 2018, in connection with a Rights Offering of 267,853 shares of our common stock, we issued 267,853 warrants to purchase shares of our common stock at an exercise price of $23.00 per share. We estimated the fair value of the common stock warrants, exercisable at $23.00 per share, to be $3,600 using a Monte Carlo model based on the following significant inputs: common stock price of $18.80; comparable company volatility of 159.0%; remaining term 5 years; dividend yield of 0% and risk-free interest rate of 2.77%. In connection with the closing of the Rights Offering, we issued a warrant to purchase 13,393 shares of common stock to Maxim Partners LLC, an affiliate of the dealer-manager of the Rights Offering. We estimated the fair value of the common stock warrants, exercisable at $34.50 per share, to be $169 using a using a Monte Carlo model based on the following significant inputs: common stock price of $18.80; comparable company volatility of 159.0%; remaining term 5 years; dividend yield of 0% and risk-free interest rate of 2.77%. Common Stock Warrant Issued to Underwriter of Common Stock Offering In July 2019, we issued to H.C. Wainwright & Co., as placement agent, a warrant to purchase 8,334 shares of common stock at an exercise price of $33.75 per share as consideration for providing services in connection with a common stock offering in July 2019. The warrant was fully vested and exercisable on the date of issuance. The common stock warrant is exercisable until five years from the date of grant. We estimated the fair value of the common stock warrants, exercisable at $33.75 per share, to be $127 using a lattice model based on the following significant inputs: common stock price of $26.80; comparable company volatility of 133.3%; remaining term 5 years; dividend yield of 0% and risk-free interest rate of 2.07%. Common Stock Warrants Issued in January and March 2020 Private Placements In January and March 2020, in separate private placements concurrent with registered direct offerings (collectively, the “2020 Registered Direct Offerings”) of shares of our common stock, we also issued warrants to purchase an aggregate of up to 353,872 shares of common stock to certain institutional and accredited investors that participated in the 2020 Registered Direct Offerings (the “2020 Warrants”). The warrants were issued in reliance on the exemption from registration provided by Section 4(a)(2) of the Securities Act and Rule 506(b) of Regulation D promulgated thereunder. Terms used but not otherwise defined herein will have the meanings given them in the warrants, attached as Exhibit 4.1 to our Current Report on Form 8-K filed with the Securities and Exchange Commission (the “SEC”) on January 28, 2020 and our Current Report on Form 8-K filed with the SEC on March 6, 2020. The warrants issued in January 2020 to purchase 177,500 shares of common stock have an exercise price of $9.00 per share, are exercisable after July 28, 2020 and will expire July 28, 2025. We estimated the fair value of the common stock warrants, exercisable at $9.00 per share, to be $813 using a Black Scholes model based on the following significant inputs: common stock price of $7.90; comparable company volatility of 73.8%; remaining term 5 years; dividend yield of 0% and risk-free interest rate of 1.53%. The warrants issued in March 2020 to purchase 176,372 shares of common stock have an exercise price of $2.88 per share, are immediately exercisable and will expire September 8, 2025. We estimated the fair value of the common stock warrants, exercisable at $2.88 per share, to be $242 using a Black Scholes model based on the following significant inputs: common stock price of $2.35; comparable company volatility of 74.8%; remaining term 5.5 years; dividend yield of 0% and risk-free interest rate of 0.39%. For so long as the 2020 Warrants remain outstanding, the exercise price and number of shares of common stock issuable upon exercise of the warrants are subject to adjustment as follows: (a) upon payment of a stock dividend or other distribution on a class or series of shares common stock, not including shares issued under this warrant; (b) upon subdivision (by stock spilt, stock dividend, recapitalization, or otherwise) or combination (by reverse stock split or otherwise) of shares of common stock; or (c) upon the issuance of any shares of capital stock by reclassification of shares of the common stock. In the event that we declare or make any dividend or other distribution of our assets to holders of our common stock, each 2020 Warrant holder will be entitled to participate in such distribution to the same extent that such holder would have participated therein if the holder had held the number of shares of common stock acquirable upon exercise of the 2020 Warrant. In the event of a Fundamental Transaction, as described in the 2020 Warrants and generally including the sale, transfer or other disposition of all or substantially all of our properties or assets; our consolidation or merger with or into another person or reorganization; a recapitalization, reorganization or reclassification in which our common stock is converted into other securities, cash or property; or any acquisition of our outstanding common stock that results in any person or group becoming the beneficial owner of 50% of the voting power represented by our outstanding common stock, then the holders of the 2020 Warrants will be entitled to receive upon exercise of such warrants the kind and amount of securities, cash, assets or other property that the holders would have received had they exercised the 2020 Warrants immediately prior to such Fundamental Transaction. Subject to certain limitations, in the event of a Fundamental Transaction the 2020 Warrant holder may at its option require us or any Successor Entity to purchase such warrant from the holder by paying to the holder an amount of cash equal to the Black Scholes Value of the remaining unexercised portion of the 2020 Warrant on the date of the consummation of the Fundamental Transaction. Any time that we grant, issue, or sell any securities pro rata to all of the record holders of our common stock (the “2020 Purchase Right”), each holder of 2020 Warrants will be entitled to acquire the aggregate amount of securities that the holder could have acquired if the holder had held the number of shares of common stock acquirable upon exercise of the applicable 2020 Warrant. However, to the extent that an exercise of a 2020 Purchase Right would exceed the Beneficial Ownership Limitation (defined below), then to such extent the 2020 Purchase Right will be held in abeyance until such time, if ever, that complete exercise of the 2020 Purchase Right would not exceed the Beneficial Ownership Limitation. After the Initial Exercisability Date, the 2020 Warrants will be exercisable, at the option of each holder, in whole or in part, by delivering to us a duly executed exercise notice accompanied by payment in full for the number of shares of our common stock purchased upon such exercise. If, at the time a holder exercises the 2020 Warrant (but not sooner than six months following the date of such warrant), a registration statement registering the issuance of the shares of common stock underlying the 2020 Warrants under the Securities Act is not then effective or available, nor is any current prospectus thereto available, and an exemption from registration under the Securities Act is not available for the issuance of such shares, then in lieu of making the cash payment otherwise contemplated to be made to us upon such exercise in payment of the aggregate exercise price, the holder may elect instead to receive upon such exercise (either in whole or in part) the number of shares of common stock determined according to a formula set forth in the 2020 Warrant. Limitations on Exercise Except as otherwise provided in the 2020 Warrants or by virtue of such holder’s ownership of shares of our common stock, the holders of the 2020 Warrants do not have the rights or privileges of holders of our common stock, including any voting rights, unless and until they exercise such warrants. Common Stock Warrants Issued in April 2020 Public Offering On April 24, 2020, in connection with a previously announced public offering of 145,586 Class A Units and 1,428,722 Class B Units, we issued warrants to purchase 1,574,308 shares of common stock to the participants in the public offering and have an exercise price of $3.05 per share (the “April 2020 Warrants”). These warrants are immediately exercisable and will expire April 24, 2025. The Common Stock, Pre-Funded Warrants and Warrants sold in this Public Offering were offered and sold pursuant to a registration statement on Form S-1 (File No. 333-236302) initially filed with the SEC on February 7, 2020, as amended (“Registration Statement”), which was declared effective by the SEC on February 14, 2020. The Post-Effective Amendment No. 2 to the Registration Statement was declared effective by the SEC on April 21, 2020. We estimated the fair value of the common stock warrants, exercisable at $3.05 per share, to be $2,402 using a Black Scholes model based on the following significant inputs: common stock price of $2.40; comparable company volatility of 87.9%; remaining term 5 years; dividend yield of 0% and risk-free interest rate of 0.18%. Common Stock Warrants Issued to Placement Agent in 2020 Registered Direct Offerings and Private Placement In connection with the separate private placements concurrent with registered direct offerings of shares of our common stock in January and March 2020, we issued to H.C. Wainwright & Co., LLC, as placement agent, a warrant to purchase 13,228 shares of common stock and a warrant to purchase 13,313 shares of common stock. The warrants were issued in reliance on the exemption from registration provided by Section 4(a)(2) of the Securities Act and Rule 506(b) of Regulation D promulgated thereunder. These warrants have substantially similar terms as the 2020 Warrants described above, except that the placement agent warrant issued in January 2020 has an exercise price of $10.00 per share, and the placement agent warrant issued in March 2020 has an exercise price of $3.7563 per share. We estimated the fair value of the common stock warrants issued in January, with an exercise price of $10.00 per share, to be $58 using a Black Scholes model based on the following significant inputs: common stock price of $7.90; comparable company volatility of 73.8%; remaining term 5 years; dividend yield of 0% and risk-free interest rate of 1.53%. We estimated the fair value of the common stock warrants issued in March, with an exercise price of $3.7563 per share, to be $17 using a Black Scholes model based on the following significant inputs: common stock price of $2.35; comparable company volatility of 74.8%; remaining term 5.5 years; dividend yield of 0% and risk-free interest rate of 0.39%. In connection with the public offering of 145,586 Class A Units and 1,428,722 Class B Units on April 24, 2020, we issued to H.C. Wainwright & Co., LLC, as placement agent, warrants to purchase 118,073 shares of common stock. The warrants were issued in reliance on the exemption from registration provided by Section 4(a)(2) of the Securities Act and Rule 506(b) of Regulation D promulgated thereunder. These warrants have substantially similar terms as the April 2020 Warrants described above, except that the placement agent warrant issued has an exercise price of $3.97 per share. We estimated the fair value of the common stock warrants issued in April, with an exercise price of $3.97 per share, to be $167 using a Black Scholes model based on the following significant inputs: common stock price of $2.40; comparable company volatility of 87.9%; remaining term 5.5 years; dividend yield of 0% and risk-free interest rate of 0.18%. Common Stock Warrants Issued in October 2020 Private Warrant Inducement In October 2020, in connection with an inducement agreement with an existing accredited investor to exercise 1,700,680 outstanding warrants to purchase an equal number of shares of our common stock, we issued new unregistered warrants to purchase up to an aggregate of 1,700,680 shares of common stock at an exercise price of $1.725 per share. The warrants issued were immediately exercisable with an exercise period of five and one-half years from the date of issuance. The Original Warrants were issued on March 6, 2020 and on April 24, 2020. Pursuant to the Letter Agreement, the per share exercise price of the Original Warrants were reduced from $2.88 and $3.05, respectively, to $1.725. We estimated the fair value of the common stock warrants, exercisable at $1.725 per share, to be $1,806 using a Black Scholes model based on the following significant inputs: common stock price of $1.47; comparable company volatility of 96.5%; remaining term 5.5 years; dividend yield of 0% and risk-free interest rate of 0.18%. Common Stock Warrants Issued to Placement Agent in October 2020 Inducement Offering In connection with the private warrant inducement in October 2020 of 1,700,680 shares of our common warrants, we issued to H.C. Wainwright & Co., LLC, as placement agent, warrants to purchase 85,034 shares of common stock. These warrants have substantially similar terms as the 2020 Warrants described above, except that the placement agent warrant issued in October 2020 has an exercise price of $2.156 per share. We estimated the fair value of these common stock warrants, with an exercise price of $2.156 per share, to be $86 using a Black Scholes model based on the following significant inputs: common stock price of $1.47; comparable company volatility of 96.5%; remaining term 5.5 years; dividend yield of 0% and risk-free interest rate of 0.18%. Common Stock Warrants Issued in February 2021 Private Placement Agreement In February 2021, in connection with a private placement agreement with certain institutional and accredited investors, we issued common stock warrants to purchase up to an aggregate of 2,194,427 shares of common stock at an exercise price of $2.216 per share. The warrants were exercisable immediately and have an exercise period of five and one-half years from the date of issuance. The warrant holder may not exercise any portion of such holder’s warrants to the extent that the holder, together with its affiliates, would beneficially own more than 4.99% (or, at the election of the holder, 9.99%) of our outstanding shares of common stock immediately after exercise, except that upon at least 61 days’ prior notice from the holder to us, the holder may increase the beneficial ownership limitation to up to 9.99% of the number of shares of common stock outstanding immediately after giving effect to the exercise. We estimated the fair value of the common stock warrants, exercisable at $2.216 per share, to be $3,052 using a Black Scholes model based on the following significant inputs: common stock price of $1.93; comparable company volatility of 95.6%; remaining term 5.5 years; dividend yield of 0% and risk-free interest rate of 0.18%. Common Stock Warrants Issued to Placement Agent in February 2021 Private Placement Agreement In connection with the private placement in February 2021, we issued to H.C. Wainwright & Co., LLC, as placement agent, warrants to purchase up to 329,164 shares of common stock with an exercise price of $2.8481 per share. The warrants are exercisable immediately and have an exercise period of five and one-half years from the date of issuance. We estimated the fair value of these common stock warrants, with an exercise price of $2.8481 per share, to be $435 using a Black Scholes model based on the following significant inputs: common stock price of $1.93; comparable company volatility of 95.6%; remaining term 5.5 years; dividend yield of 0% and risk-free interest rate of 0.18%. Common Stock Warrants Issued to Placement Agent in March 2021 Registered Direct Offering On March 23, 2021, we consummated a registered direct offering with certain institutional investors and issued an aggregate of 1,975,000 shares of our common stock, par value $0.001 per share at a purchase price of $2.00 per share for gross proceeds to us of approximately $3.95 million, before deducting fees payable to the placement agent and other estimated offering expenses payable by us. The 1,975,000 shares of common stock sold in the offering were offered and sold pursuant to a prospectus, dated August 24, 2018, and a prospectus supplement, dated March 22, 2021, in connection with a takedown from our shelf registration statement on Form S-3 (File No. 333-225712). In connection with the registered direct offering in March 2021, we issued to H.C. Wainwright & Co., LLC, as the placement agent, warrants to purchase up to 148,125 shares of common stock. The placement agent warrants will be exercisable commencing six months following the date of issuance, expire five years following the date of sale and have an exercise price per share of $2.50 per share. The placement agent warrants, and the shares of common stock issuable upon exercise thereof, will be issued in reliance on the exemption from registration provided in Section 4(a)(2) under the Securities Act of 1933, as amended, and Regulation D promulgated thereunder. We estimated the fair value of these common stock warrants, with an exercise price of $2.50 per share, to be $181 using a Black Scholes model based on the following significant inputs: common stock price of $1.76; comparable company volatility of 100.8%; remaining term 5 years; dividend yield of 0% and risk-free interest rate of 0.31%. Deemed Dividend Adjustment-Warrant Modified Terms Revaluation On March 3, 2020, we issued an aggregate of 51,414 common shares in a cashless exercise of 56,625 warrants issued in December 2016 and November 2017. Consideration for the exercise of these warrants was the full settlement of an outstanding litigation reserve of $238. On October 26, 2020, in connection with the private warrant inducement with an existing accredited investor to exercise 1,700,680 outstanding warrants (“Original Warrants”), we agreed to modify the terms of the original warrants that were originally issued on March 6, 2020 and on April 24, 2020. Pursuant to the agreement, the per share exercise price of the original warrants were reduced from $2.88 and $3.05, respectively, to $1.725. Per recent proposed guidance of ASC 260, we determined that this was an exchange of the existing 1,700,680 warrants that were affected and the difference between the fair value of the warrants immediately prior to modification of terms and immediately after the adjustment was a cost of raising capital and was recorded as a reduction of equity. The difference between the fair value of the warrants immediately prior to modification of terms and immediately after the adjustment was calculated as $237, using a Black Scholes model based on the following significant inputs: On October 26, 2020: common stock price of $1.47; comparable company volatility of 96.5%; remaining term 4.5-4.8 years; dividend yield of 0% and risk-free interest rate of 0.18. |
Stockholders_ Deficit
Stockholders’ Deficit | 12 Months Ended |
Dec. 31, 2021 | |
Stockholders' Equity Note [Abstract] | |
Stockholders’ Deficit | 10. Stockholders’ Deficit Capital Stock We organized under the laws of the state of Nevada on July 27, 2004 and subsequently reincorporated under the laws of the state of Delaware on November 10, 2015. In connection with the reincorporation, as approved by the stockholders, we changed our authorized capital stock to consist of (i) 100 million shares of common stock, $0.001 par value, and (ii) 2 million shares of preferred stock, $0.001 par value, designated as Series A convertible preferred stock. In December 2015, we amended our Certificate of Incorporation to change our authorized capital stock to provide for 15 million authorized shares of preferred stock of which 7,515,000 was designated as Series B convertible preferred stock, par value $.001 per share. Prior to November 10, 2015, our authorized capital stock consisted of 100 million shares of common stock, $.001 par value, and 10 million shares of preferred stock, $.001 par value. Common Stock We had 12,207,283 and 5,099,512 shares of common stock issued and outstanding as of December 31, 2021 and December 31, 2020, respectively. During the year ended December 31, 2021, we issued 7,107,771 shares of common stock as follows: ● an aggregate of 4,188,854 shares in connection with a private placement offering and exercise of pre-funded warrants issued in connection with the offering, generating net proceeds to us in February 2021 of approximately $8,898, as further described below; ● an aggregate of 1,975,000 shares in connection with a registered direct offering generating net proceeds to us in March 2021 of approximately $3,523, as further described below; ● an aggregate of 922,966 shares in connection with the exercise of common stock warrants in March, June, July and October, 2021, generating net proceeds to us of approximately $1,250, as further described below; and ● an aggregate of 20,951 shares for service as a result of the vesting of restricted stock units. Public Offerings and Registered Direct Offerings On February 2, 2021, we consummated a private placement with certain institutional and accredited investors and issued an aggregate of 3,968,854 shares of our common stock, par value $0.001 per share at a purchase price of $2.2785 per share, pre-funded warrants to purchase up to an aggregate of 420,000 shares of common stock at a purchase price of $2.2775 per pre-funded warrant and associated warrants to purchase up to an aggregate of 2,194,427 shares of common stock, for gross proceeds of approximately $10.0 million, prior to deducting placement agent fees and offering expenses. At March 29, 2021, all 420,000 pre-funded shares had been distributed. In connection with the offering, we issued the placement agent warrants to purchase up to 329,164 shares of common stock with an exercise price of $2.8481 per share. On March 23, 2021, we consummated a registered direct offering with certain institutional investors and issued an aggregate of 1,975,000 shares of our common stock, par value $0.001 per share at a purchase price of $2.00 per share for gross proceeds to us of approximately $3.95 million, pursuant to a prospectus, dated August 24, 2018, and a prospectus supplement, dated March 22, 2021, in connection with a takedown from our shelf registration statement on Form S-3 (File No. 333-225712). In connection with the offering, we issued the placement agent warrants to purchase up to 148,125 shares of common stock at an exercise price per share of $2.50 per share. On March 19, 2021, June 22, 2021, July 15, 2021 and October 7, 2021, we issued an aggregate of 700, 680, 499, 5,616 and 16,171 shares of commons stock for the exercise of certain warrants, respectively. The net proceeds to us for these exercises was $1,250. |
Stock-Based Compensation
Stock-Based Compensation | 12 Months Ended |
Dec. 31, 2021 | |
Share-based Payment Arrangement [Abstract] | |
Stock-Based Compensation | 11. Stock-Based Compensation On June 12, 2018, our stockholders approved the 2018 Equity Incentive Plan (the “2018 Plan”) to replace our 2015 Equity Incentive Plan (the “2015 Plan”). On July 8, 2020, our stockholders approved an amendment to the 2018 Plan to increase the number of shares of common stock available for issuance under the 2018 Plan by 800,000 shares from 50,000 to 850,000. In addition, up to 122,279 shares of our common stock previously reserved for issuance under the 2015 Plan are available for issuance under the 2018 Plan to the extent such shares were available for issuance under the 2015 Plan as of June 12, 2018 or thereafter cease to be subject to awards outstanding under the 2015 Plan, such as by expiration, cancellation, or forfeiture of such awards. On June 24, 2021, our stockholders approved an amendment to the 2018 Plan to increase the number of shares of common stock available for issuance under the 2018 Plan by 3,000,000 shares. Stock options are generally issued with a per share exercise price equal to no less than fair market value of our common stock at the date of grant. Options granted under the 2018 Plan generally vest immediately, or ratably over a two- to 36-month period coinciding with their respective service periods. Options under the 2018 Plan generally have a term of five years. Certain stock option awards provide for accelerated vesting upon a change in control. As of December 31, 2021, we had 2,838,100 shares of common stock available for issuance under the 2018 Plan. Stock Options We measure the fair value of stock options with service-based vesting criteria to employees, directors and consultants on the date of grant using the Black-Scholes option pricing model. The Black-Scholes valuation model requires us to make certain estimates and assumptions, including assumptions related to the expected price volatility of our stock, the period during which the options will be outstanding, the rate of return on risk-free investments, and the expected dividend yield for our stock. The weighted-average assumptions used in the Black-Scholes option-pricing model used to calculate the fair value of options granted during the year ended December 31, 2021 were as follows: Employee Expected volatility 95.8 % Expected dividend yield - Expected term (in years) 3.01 Risk-free interest rate 0.46 % The weighted average grant date fair value of options granted during the year ended December 31, 2021 was $0.97 per share, as per the table below. The weighted-average assumptions used in the Black-Scholes option-pricing model used to calculate the fair value of options granted during the year ended December 31, 2020, were as follows: Employee Expected volatility 92.1 % Expected dividend yield - Expected term (in years) 3.5 Risk-free interest rate 0.17 % Due to our limited operating history and lack of company-specific historical or implied volatility, the expected volatility assumption was determined based on historical volatilities from traded options of biotech companies of comparable size and stability, whose share prices are publicly available. The expected term of options granted to employees is calculated based on the mid-point between the vesting date and the end of the contractual term according to the simplified method as described in SEC Staff Accounting Bulletin 110 because we do not have sufficient historical exercise data to provide a reasonable basis upon which to estimate the expected term due to the limited period of time our awards have been outstanding. For non-employee options, the expected term of options granted is the contractual term of the options. The risk-free interest rate is determined by reference to the implied yields of U.S. Treasury securities with a remaining term equal to the expected term assumed at the time of grant. The expected dividend assumption is based on our history and expectation of dividend payouts. We have not paid and do not intend to pay dividends. The table summarizes the stock option activity for the periods indicated as follows: Number of Weighted Weighted Aggregate Outstanding at December 31, 2019 136,489 $ 27.85 3.9 $ - Granted 370,397 $ 1.37 4.9 $ - Exercised - $ - - $ - Forfeited (10,415 ) $ - - $ - Expired - $ - - $ - Outstanding at December 31, 2020 496,471 $ 8.63 3.9 $ - Granted 598,649 $ 0.97 4.6 $ - Exercised - $ - - $ - Forfeited (3,300 ) $ - - $ - Expired (4,000 ) $ - - $ - Outstanding at December 31, 2021 1,087,820 $ 4.08 3.9 $ - Exercisable at December 31, 2021 649,153 $ 5.38 1.8 $ - (1) The aggregate intrinsic value on the table was calculated based on the difference between the estimated fair value of our stock and the exercise price of the underlying option. The estimated stock values used in the calculation was $0.98 and $1.73 per share for each of the years ended December 31, 2021 and 2020, respectively. The weighted average grant date fair value of options granted to employees for the year ended December 31, 2021 was $0.97 per share. At December 31, 2021, the total compensation cost related to non-vested options not yet recognized was $581, which will be recognized over a weighted average period of 27 months, assuming the grantees complete their service period required for vesting. Restricted Stock Units The following table summarizes restricted stock unit activity for the years ended December 31, 2021 and 2020: Number of Weighted Average Outstanding as of December 31, 2019 5,877 $ 30.28 Granted 30,738 (1) $ 1.97 Vested (4,543 ) $ 1.42 Forfeited - $ - Outstanding as of December 31, 2020 32,072 $ 4.13 Granted - $ - Vested (31,405 ) $ 4.22 Forfeited - $ - Outstanding as of December 31, 2021 667 $ 1.80 (1) 30,738 restricted stock units were granted on July 23, 2020 with a weighted average grant date fair value of $1.97. The stock-based compensation expense was recorded as follows: Years Ended 2021 2020 Research and development $ 3 $ 9 General and administrative 762 636 Total stock-based compensation expense $ 765 $ 645 The allocation between research and development and general and administrative expense was based on the department and services performed by the employee or non-employee. |
Income Taxes
Income Taxes | 12 Months Ended |
Dec. 31, 2021 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | 12. Income Taxes The components of the pretax loss from operations for the years ended December 31, 2021 and 2020 are as follows (in thousands): Years Ended 2021 2020 U.S. Domestic $ (8,268 ) $ (8,373 ) Foreign - - Pretax loss from operations $ (8,268 ) $ (8,373 ) The provision for income taxes from continuing operations for the years ended December 31, 2021 and 2020 are as follows: Years Ended 2021 2020 Current $ $ Federal - - State - - Foreign - - Total current - - Deferred Federal - - State - - Foreign - - Total deferred - - Total income tax expense (benefit) $ - $ - Tax Rate Reconciliation A reconciliation of income taxes to the amount computed by applying the statutory federal income tax rate to the net loss is summarized as follows : Years Ended 2021 2020 Income tax benefit at statutory rates $ (1,736 ) $ (1,758 ) State income tax, net of federal benefit (329 ) (309 ) Permanent items - 1 Stock-based compensation 118 84 PPP loan forgiveness (137 ) - Change in rate - - Stock compensation DTA adjustment - - Change in valuation allowance 1,976 1,982 RTP and other 109 - Income tax expense (benefit) $ - $ - Significant components of our deferred tax assets as of December 31, 2021 and 2020 are shown below. A valuation allowance has been recognized to offset the net deferred tax assets as realization of such deferred tax assets have not met the more likely than not threshold. December 31, 2021 2020 Deferred tax assets: ASC 842 leases $ 130 $ 167 Federal and state net operating loss carryovers 19,448 17,548 Stock-Based Compensation 333 289 Compensation accruals and other 139 84 Depreciation - 17 Total deferred tax assets 20,050 18,105 Valuation allowance for deferred tax assets (19,916 ) (17,940 ) Deferred tax assets, net of valuation allowance 134 165 Deferred tax liabilities: Depreciation (7 ) - ASC 842 assets (127 ) (165 Total deferred tax liabilities (134 ) (165 ) $ - $ - At December 31, 2021, we had federal and state net operating loss carryforwards of approximately $77.2 million and $63.7 million, respectively, not considering the IRC Section 382 annual limitation discussed below. The federal loss carryforwards begin to expire in 2029, unless previously utilized. In addition, we had approximately $32.7 million of the total $77.2 million of net operating losses that do not expire, as these losses were generated after the law change introduced as part of the Tax Cuts and Jobs Act. The state net operating losses expire if not utilized by 2041. Additionally, the utilization of the net operating loss carryforwards could be subject to an annual limitation under Section 382 and 383 of the Internal Revenue Code of 1986, and similar state tax provisions due to ownership change limitations that have occurred previously or that could occur in the future. These ownership changes limit the amount of net operating loss carryforwards and other deferred tax assets that can be utilized to offset future taxable income and tax, respectively. In general, an ownership change, as defined by Section 382 and 383, results from transactions increasing ownership of certain stockholders or public groups in the stock of the corporation by more than 50 percentage points over a three-year period. We have not conducted an analysis of an ownership change under section 382. To the extent that a study is completed and an ownership change is deemed to occur, our net operating losses could be limited. The following table summarizes the activity related to our gross unrecognized tax benefits at the beginning and end of the years ended December 31, 2021 and 2020 (in thousands): Years Ended 2021 2020 Gross unrecognized tax benefits at the beginning of the year $ - $ - Increases related to current year positions - - Increases related to prior year positions - - Decreases related to prior year positions - - Expiration of unrecognized tax benefits - - Gross unrecognized tax benefits at the end of the year $ - $ - None of the unrecognized tax benefits would affect our annual effective tax rate. We do not expect a significant change in unrecognized tax benefits over the next 12 months. We file income tax returns in the United States and Arizona with general statutes of limitations of three and four years, respectively. Due to net operating losses incurred, our tax returns from inception to date are subject to examination by taxing authorities. Our policy is to recognize interest expense and penalties related to income tax matters as a component of income tax expense. As of December 31, 2021, we had no interest or penalties accrued for uncertain tax positions. |
Commitments and Contingencies
Commitments and Contingencies | 12 Months Ended |
Dec. 31, 2021 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | 13. Commitments and Contingencies Legal Proceedings In July 2020, Kennan E. Kaedar, our former corporate general counsel (the “Plaintiff”), commenced an action against us in the Superior Court of the State of California, for the County of San Diego. The complaint alleges, among other things, that we breached the Plaintiff’s employment contract with us, as well as the implied covenant of good faith and fair dealing, by refusing to issue him the balance of stock options he claims we owe him. In September 2021, the Plaintiff also named the following individuals as defendants: Loretta Mayer, Cheryl Dyer, Thomas C. Chesterman, Kim Wolin, Grover Wickersham, Marc Dumont, Bob Ramsey, Matthew Szot, Julia Williams, and Bill Baker. The Plaintiff alleges that such individuals agreed to knowingly and wrongfully withhold the stock options owed to him and are knowingly in receipt of stolen property. The Plaintiff seeks compensatory damages in excess of $500,000, treble damages and reasonable attorneys’ fees. We do not believe the claims described above have merit and intend to aggressively defend against these accusations. We do not believe that this litigation is likely to have a material effect on our operations. In addition to the matter described above, we may be subject to other legal proceedings and claims arising from contracts or other matters from time to time in the ordinary course of business. Management is not aware of any other pending or threatened litigation where the ultimate disposition or resolution could have a material adverse effect on our financial position, results of operations or liquidity. Lease Commitments We are obligated under finance leases for certain research and computer equipment that expire on various dates through July 2023. At December 31, 2021, the gross amount of office and computer equipment, and research equipment and the related accumulated amortization recorded under the finance leases was $478 and $442, respectively. In February 2012, we entered into an operating lease for our then corporate headquarters in Flagstaff, Arizona. The lease was originally due to expire in January 2015. In December 2013, we amended our lease to expand into the remaining area in the building and extended the term to December 31, 2019. In February 2014, we further amended the lease to expand into an adjacent building. The lease required escalating rental payments over the lease term. Minimum rental payments under the operating lease were recognized on a straight-line basis over the term of the lease and accordingly, we recorded the difference between the cash rent payments and the recognition of rent expense as a deferred rent liability. The lease was guaranteed by the former President of our Company. In December 2019, we extended the current lease for only our manufacturing facilities are located in Flagstaff, Arizona, occupying a total of 7,632 square feet of space. The lease for our manufacturing facilities expired in December 2020. On November 16, 2016, we leased an additional 1,954 square feet of research and development space, also in Flagstaff, Arizona. This lease expired on November 15, 2018 but was extended for an additional 24 months, through November 2020. A subsequent amendment to the lease allows for us to cancel the lease at any time through the lease term with 30 days notice. We provided a 30-day cancellation notice effective February 2020. On December 1, 2019, we entered into a lease for our corporate headquarters in Phoenix, Arizona where we lease and occupy approximately 5,529 square feet of office space. This lease expires in November 2024. On August 1, 2020, we entered into a lease for our manufacturing and research facility in Phoenix, Arizona where we occupy approximately 5,105 square feet of manufacturing and warehouse space. This lease expires on November 30, 2024. We believe that our existing facilities are adequate and meet our current needs for business, manufacturing and research. Rent expense was $222 and $286 for the years ended December 31, 2021 and 2020, respectively. The future minimum lease payments under non-cancellable operating lease and future minimum finance lease payments as of December 31, 2021 are follows: Finance Operating Years Ending December 31, 2022 $ 28 $ 194 2023 - 198 2024 - 186 Total minimum lease payments $ 28 $ 578 Finance Less: amounts representing interest (11.43%) $ (1 ) Present value of minimum lease payments 27 Less: current installments under finance lease obligations (27 ) Total long-term portion $ - |
Related Party Transactions
Related Party Transactions | 12 Months Ended |
Dec. 31, 2021 | |
Related Party Transactions [Abstract] | |
Related Party Transactions | 14. Related Party Transactions Related party transactions are conducted in the normal course of business and, unless otherwise noted, are measured at the exchange amount, which is the amount of consideration established and agreed to by the related parties. In connection with consulting agreements in place, during each of the years ended December 31, 2021 and December 30, 2020, $50,400 of cash payments were made to the Kito Impact Foundation of which Dr. Bechtel, the Chair of our board, serves as chief executive officer. |
Subsequent Events
Subsequent Events | 12 Months Ended |
Dec. 31, 2021 | |
Subsequent Events [Abstract] | |
Subsequent Events | 15. Subsequent Events COVID-19 The travel and other restrictions that began in March 2020 in response to the COVID-19 global pandemic have resulted in a significant slowdown in our field studies and sales efforts. We were able to resume some projects during 2020 and into 2021, however, we still have delays on certain projects that might remain on hold until certain government restrictions are lifted. These delays have impacted our results of operations and could impact our results in future quarters. In addition, stay at home orders and other social distancing initiatives continue to limit our ability to communicate with current and potential commercial customers. Further, new stay at home orders and other social distancing initiatives may be reimplemented at any time. The COVID-19 pandemic is also placing a significant budgetary burden on federal, state and local governments, which may impede or delay their ability to purchase our products. Nasdaq On March 2, 2022, we received a letter from the listing qualifications staff (the “Staff”) of The Nasdaq Stock Market (“Nasdaq”) providing notification that the bid price for our common stock had closed below $1.00 per share for the previous 30 consecutive business days and our common stock no longer meets the minimum bid price requirement for continued listing under Nasdaq Listing Rule 5550(a)(2). In accordance with Nasdaq Listing Rule 5810(c)(3)(A), we have an initial period of 180 calendar days, or until August 29, 2022, to regain compliance. To regain compliance, the closing bid price of our common stock must be $1.00 per share or more for a minimum of 10 consecutive business days at any time before August 29, 2022. If we do not regain compliance with Rule 5550(a)(2) by August 29, 2022, we may be eligible for an additional 180 calendar day compliance period. To qualify, we would need to meet the continued listing requirement for market value of publicly held shares and all other initial listing standards for the Nasdaq Capital Market, with the exception of the minimum bid price requirement, and would need to provide written notice of our intention to cure the deficiency during the second compliance period, by effecting a reverse stock split, if necessary. However, if it appears to the Staff that we will not be able to cure the deficiency, or if we are otherwise not eligible, Nasdaq would notify us that our securities would be subject to delisting. In the event of such notification, we may appeal the Staff’s determination to delist our securities, but there can be no assurance the Staff would grant our request for continued listing. The Nasdaq notification has no immediate effect on the listing of our common stock on the Nasdaq Capital Market. We intend to actively monitor the bid price of our common stock and our minimum market value of listed securities and will consider options available to us to achieve compliance with the Nasdaq listing rules. There can be no assurance that we will be able to regain compliance with the minimum bid price requirement or will otherwise be in compliance with the other listing standards for the Nasdaq Capital Market. Settlement of Restricted Stock Units On March 1, 2022, the Company issued 5,000 shares of common stock in the settlement of restricted stock units that were issued and vested during the period. Other Subsequent Events We have evaluated subsequent events from the balance sheet date through March 29, 2022, the date at which the financial statements were issued, and determined that there were no other items that require adjustment to or disclosure in the financial statements. |
Accounting Policies, by Policy
Accounting Policies, by Policy (Policies) | 12 Months Ended |
Dec. 31, 2021 | |
Accounting Policies [Abstract] | |
Use of Estimates | Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts and classification of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements and reported amounts of revenues and expenses during the reporting period. The significant estimates in our financial statements include the valuation of preferred stock, if issued, common stock and related warrants, and other stock-based awards. Actual results could differ from such estimates. |
Reclassifications | Reclassifications Certain prior year amounts have been reclassified to conform to the current year presentation. These reclassifications had no impact on net earnings, financial position or cash flows. |
Cash and Cash Equivalents | Cash and Cash Equivalents We consider money market fund investments to be cash equivalents. We had cash equivalents in the form of money market fund investment of $8,800 and $1,500 at December 31, 2021 and December 31, 2020, respectively, included in cash as reported. |
Accounts Receivable-Trade | Accounts Receivable-Trade Accounts receivable-trade consist primarily of receivables from customers. We provide an allowance for doubtful trade receivables equal to the estimated uncollectible amounts. That estimate is based on historical collection experience, current economic and market conditions and a review of the current status of each customer’s trade accounts receivable. We did not have any allowance for doubtful trade receivables at December 31, 2021 or at December 31, 2020. |
Inventories | Inventories Inventories are stated at the lower of cost or market value, using the first-in, first-out convention. Inventories consist of raw materials, work in progress and finished goods. Raw materials are stocked to reduce the risk of impact on manufacturing for potential supply interruptions due to the COVID-19 pandemic or long lead times on certain ingredients. Reserves for obsolete inventory consist of reserves primarily related to obsolete product containers and delivery systems. Components of inventory are: December 31, 2021 2020 Raw materials $ 937 $ 950 Work in progress 5 24 Finished goods 88 94 Total inventory 1,030 1,068 Less: Reserve for obsolete (29 ) (123 ) Total net inventory $ 1,001 $ 945 |
Prepaid Expenses | Prepaid Expenses Prepaid expenses consist primarily of payments made for director and officer insurance, marketing services, rent, legal and inventory purchase deposits and seminar/trade show fees to be expensed in the current year. |
Property and Equipment | Property and Equipment Property and equipment are stated at cost less accumulated depreciation. Equipment held under finance leases are stated at the present value of minimum lease payments less accumulated amortization. Depreciation on property and equipment is computed using the straight-line method over the estimated useful lives of the respective assets. The cost of leasehold improvements is amortized over the life of the improvement or the term of the lease, whichever is shorter. Equipment held under finance leases are amortized over the shorter of the lease term or estimated useful life of the asset. The Company incurs maintenance costs on its major equipment. Repair and maintenance costs are expensed as incurred. |
Impairment of Long-Lived Assets | Impairment of Long-Lived Assets Long-lived assets, such as property and equipment, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. If circumstances require long-lived assets or asset groups to be tested for possible impairment, the Company compares the undiscounted cash flows expected to be generated from the use of the asset or asset group to its carrying amount. If the carrying amount of the long-lived asset or asset group is not recoverable on an undiscounted cash flow basis, an impairment charge is recognized to the extent that the carrying amount exceeds its fair value. Fair value is determined through various valuation techniques, such as discounted cash flow models and the use of third- party independent appraisals. We have not recorded an impairment of long-lived assets since our inception. |
Revenue Recognition | Revenue Recognition Effective January 1, 2018, we adopted Accounting Standards Codification (“ASC”) 606 — Revenue from Contracts with Customers . We recognize revenue when product is shipped at a fixed selling price on payment terms of 30 to 120 days from invoicing. We recognize other revenue earned from pilot studies, consulting and implementation services upon the performance of specific services under the respective service contract. We derive revenue primarily from commercial sales of products, net of discounts and promotions, as well as consulting and implementation services provided in conjunction with our product deployments. |
Research and Development | Research and Development Research and development costs are expensed as incurred. Research and development expenses primarily consist of salaries and benefits for research and development employees, stock-based compensation, consulting fees, lab supplies, costs incurred related to conducting scientific trials and field studies, regulatory compliance costs, as well as manufacturing costs associated with process improvement and other research. Research and development expenses include an allocation of facilities related costs, including depreciation of equipment. |
Stock-based Compensation | Stock-based Compensation Stock-based awards, consisting of stock options and restricted stock units expected to be settled in shares of our common stock, are recorded as equity awards. The grant date fair value of these awards is measured using the Black-Scholes option pricing model for stock options and grant date market value for restricted stock units. We expense the grant date fair value of our stock-based awards on a straight-line basis over their respective vesting periods. The stock-based compensation expense recorded for the 12 months ended December 31, 2021 and 2020, is as follows: Years Ended 2021 2020 Research and development $ 3 $ 9 General and administrative 762 636 Total stock-based compensation expense $ 765 $ 645 See Note 11 – Stock-Based Compensation for additional discussion on stock-based compensation. |
Income Taxes | Income Taxes We account for income taxes under the asset and liability method, which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements. Under this method, deferred tax assets and liabilities are determined based on the differences between the financial statements and tax bases of assets and liabilities and net operating loss carryforwards using enacted tax rates in effect for the year in which the differences are expected to reverse. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in the period that includes the enactment date. We record net deferred tax assets to the extent we believe these assets will more likely than not be realized. These deferred tax assets are subject to periodic assessments as to recoverability and if it is determined that it is more likely than not that the benefits will not be realized, valuation allowances are recorded which would increase the provision for income taxes. In making such determination, we consider all available positive and negative evidence, including future reversals of existing taxable temporary differences, projected future taxable income, tax planning strategies and recent financial operations. We currently maintain a full valuation allowance against its deferred tax assets. We apply a more-likely-than-not recognition threshold for all tax uncertainties. Only those benefits that have a greater than fifty percent likelihood of being sustained upon examination by the taxing authorities are recognized. Based on our evaluation, we have concluded there are no significant uncertain tax positions requiring recognition in our financial statements. We recognize interest and/or penalties related to uncertain tax positions in income tax expense. There are no uncertain tax positions as of December 31, 2021 or December 31, 2020 and as such, no interest or penalties were recorded in income tax expense. |
Comprehensive Loss | Comprehensive Loss Net loss and comprehensive loss were the same for all periods presented; therefore, a separate statement of comprehensive loss is not included in the accompanying financial statements. |
Loss Per Share Attributable to Common Stockholders | Loss Per Share Attributable to Common Stockholders Basic loss per share attributable to common stockholders is calculated by dividing the net loss attributable to common stockholders by the weighted average number of common shares outstanding during the period. Diluted loss per share attributable to common stockholders is computed by dividing the loss attributable to common stockholders by the weighted average number of common shares and potentially dilutive securities outstanding for the period determined using the treasury stock and if-converted methods. For purposes of the computation of diluted loss per share attributable to common stockholders, common stock purchase warrants, restricted stock units and common stock options are considered to be potentially dilutive securities but have been excluded from the calculation of diluted loss per share attributable to common stockholders because their effect would be anti-dilutive given the net loss reported for the years ended December 31, 2021 and 2020. Therefore, basic and diluted loss per share attributable to common stockholders was the same for all periods presented. The following table sets forth the outstanding potentially dilutive securities that have been excluded in the calculation of diluted loss per share attributable to common stockholders (in common stock equivalent shares): December 31, 2021 2020 Common stock purchase warrants 4,531,447 2,582,697 Restricted stock unit 667 32,072 Common stock options 1,087,820 496,471 Total 5,619,934 3,111,240 |
Accounting Standards Issued but Not Yet Adopted | Accounting Standards Issued but Not Yet Adopted There have been no new accounting pronouncements not yet effective or adopted in the current year that we believe have a significant impact, or potential significant impact, to our condensed consolidated financial statements. |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Accounting Policies [Abstract] | |
Schedule components of inventory | December 31, 2021 2020 Raw materials $ 937 $ 950 Work in progress 5 24 Finished goods 88 94 Total inventory 1,030 1,068 Less: Reserve for obsolete (29 ) (123 ) Total net inventory $ 1,001 $ 945 |
Schedule of stock-based compensation expense | Years Ended 2021 2020 Research and development $ 3 $ 9 General and administrative 762 636 Total stock-based compensation expense $ 765 $ 645 |
Schedule of calculation of diluted loss per share attributable to common stockholders | December 31, 2021 2020 Common stock purchase warrants 4,531,447 2,582,697 Restricted stock unit 667 32,072 Common stock options 1,087,820 496,471 Total 5,619,934 3,111,240 |
Prepaid Expenses (Tables)
Prepaid Expenses (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Prepaid Expenses Disclosure [Abstract] | |
Schedule of prepaid expenses | December 31, 2021 2020 Director, officer and other insurance $ 109 $ 18 Marketing programs and conferences 66 106 Patents 41 - Legal retainer - 25 Professional service retainer - 8 Rent - 18 Engineering, software licenses and other 14 3 Total prepaid expenses $ 230 $ 178 |
Property and Equipment (Tables)
Property and Equipment (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Property, Plant and Equipment [Abstract] | |
Schedule of property and equipment | December 31, Useful Life 2021 2020 Research and development equipment 5 years $ 1,425 $ 1,397 Office and computer equipment 3 years 762 733 Autos 5 years 54 54 Furniture and fixtures 7 years 41 41 Leasehold improvements * 112 283 Construction in progress 45 115 2,439 2,623 Less accumulated depreciation and amortization 2,105 2,085 Total property and equipment $ 334 $ 538 * Shorter of lease term or estimated useful life |
Accrued Expenses (Tables)
Accrued Expenses (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Payables and Accruals [Abstract] | |
Schedule of accrued expenses | December 31, 2021 2020 Compensation, severance and related benefits $ 524 $ 218 Legal services 17 - Product warranty 18 - Personal property and franchise tax 5 57 Other 14 17 Total accrued expenses $ 578 $ 292 |
Borrowings (Tables)
Borrowings (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Borrowings [Abstract] | |
Schedule of finance lease obligations | At December 31, 2021 2020 Short-term debt: Current portion of long-term debt $ 32 $ 98 Total short-term debt $ 32 $ 98 Long-term debt: Finance lease obligations $ - $ 79 Other unsecured promissory notes - 692 Total - 771 Less: current portion of long-term debt 32 98 Total long-term debt $ - $ 673 |
Common Stock Warrants and Com_2
Common Stock Warrants and Common Stock Warrant Liability (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Warrants Note Disclosure [Abstract] | |
Schedule of common stock warrant activity | Issue Date Warrant Type Term Exercise Balance Issued Exercised Expired Balance Issued Exercised Expired Balance 2016 and prior Various Various-2020/2021 Various 17,059 - (9,375 ) (7,684 ) - - - - - November 21, 2017 Common Stock Offering Warrants November 21, 2022 $ 1.3659 (1) 143,501 - - - 143,501 - (21,787 ) - 121,714 November 21, 2017 Dealer Manager Warrants November 21, 2022 $ 30.00 47,250 - (47,250 ) - - - - - - June 20, 2018 Warrant Reissue December 20, 2023 $ 36.40 56,696 - - - 56,696 - - - 56,696 August 13, 2018 Rights Offering Warrants July 25, 2023 $ 23.00 202,943 - - - 202,943 - (499 ) - 202,444 August 13, 2018 Dealer Manager Warrants August 13, 2023 $ 34.50 13,393 - - - 13,393 - - - 13,393 July 16, 2019 Dealer Manager Warrants July 11, 2024 $ 33.75 8,334 - - - 8,334 - - - 8,334 January 28, 2020 Registered Direct Offering July 28, 2025 $ 9.00 - 177,500 - - 177,500 - - - 177,500 January 28, 2020 Dealer Manager Warrants July 28, 2025 $ 10.00 - 13,315 - - 13,315 - - - 13,315 March 6, 2020 Registered Direct Offering September 8, 2025 $ 2.88 - 176,372 (176,372 ) - - - - - - March 6, 2020 Dealer Manager Warrants March 4, 2025 $ 3.76 - 13,228 - - 13,228 - - - 13,228 April 21, 2020 Dealer Manager Warrants April 21, 2025 $ 3.97 - 118,073 - - 118,073 - - - 118,073 April 24, 2020 Registered Direct Offering April 24, 2025 $ 3.05 - 1,574,308 (1,524,308 ) - 50,000 - - - 50,000 October 26, 2020 Private Warrant Inducement April 27, 2026 $ 1.73 - 1,700,680 1,700,680 - (700,680 ) - 1,000,000 October 26, 2020 Dealer Manager Warrants April 27, 2026 $ 2.16 - 85,034 85,034 - - - 85,034 February 2, 2021 Private Placement Agreement August 2, 2026 $ 2.216 - - - - - 2,194,427 - - 2,194,427 February 2, 2021 Dealer Manager Warrants August 2, 2026 $ 2.848 - - - - - 329,164 - - 329,164 March 23, 2021 Dealer Manager Warrants March 23, 2026 $ 2.50 - - - - - 148,125 - - 148,125 489,176 2,582,697 4,531,447 |
Stock-Based Compensation (Table
Stock-Based Compensation (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Share-based Payment Arrangement [Abstract] | |
Schedule of fair value of options granted | Employee Expected volatility 95.8 % Expected dividend yield - Expected term (in years) 3.01 Risk-free interest rate 0.46 % Employee Expected volatility 92.1 % Expected dividend yield - Expected term (in years) 3.5 Risk-free interest rate 0.17 % |
Schedule of stock option activity | Number of Weighted Weighted Aggregate Outstanding at December 31, 2019 136,489 $ 27.85 3.9 $ - Granted 370,397 $ 1.37 4.9 $ - Exercised - $ - - $ - Forfeited (10,415 ) $ - - $ - Expired - $ - - $ - Outstanding at December 31, 2020 496,471 $ 8.63 3.9 $ - Granted 598,649 $ 0.97 4.6 $ - Exercised - $ - - $ - Forfeited (3,300 ) $ - - $ - Expired (4,000 ) $ - - $ - Outstanding at December 31, 2021 1,087,820 $ 4.08 3.9 $ - Exercisable at December 31, 2021 649,153 $ 5.38 1.8 $ - (1) The aggregate intrinsic value on the table was calculated based on the difference between the estimated fair value of our stock and the exercise price of the underlying option. The estimated stock values used in the calculation was $0.98 and $1.73 per share for each of the years ended December 31, 2021 and 2020, respectively. |
Schedule of summarizes restricted stock unit activity | Number of Weighted Average Outstanding as of December 31, 2019 5,877 $ 30.28 Granted 30,738 (1) $ 1.97 Vested (4,543 ) $ 1.42 Forfeited - $ - Outstanding as of December 31, 2020 32,072 $ 4.13 Granted - $ - Vested (31,405 ) $ 4.22 Forfeited - $ - Outstanding as of December 31, 2021 667 $ 1.80 (1) 30,738 restricted stock units were granted on July 23, 2020 with a weighted average grant date fair value of $1.97. |
Schedule of stock-based compensation expense | Years Ended 2021 2020 Research and development $ 3 $ 9 General and administrative 762 636 Total stock-based compensation expense $ 765 $ 645 |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Income Tax Disclosure [Abstract] | |
Schedule of pretax loss from operations | Years Ended 2021 2020 U.S. Domestic $ (8,268 ) $ (8,373 ) Foreign - - Pretax loss from operations $ (8,268 ) $ (8,373 ) |
Schedule of reconciliation on income taxes | Years Ended 2021 2020 Current $ $ Federal - - State - - Foreign - - Total current - - Deferred Federal - - State - - Foreign - - Total deferred - - Total income tax expense (benefit) $ - $ - |
Schedule of reconciliation on income taxes | Years Ended 2021 2020 Income tax benefit at statutory rates $ (1,736 ) $ (1,758 ) State income tax, net of federal benefit (329 ) (309 ) Permanent items - 1 Stock-based compensation 118 84 PPP loan forgiveness (137 ) - Change in rate - - Stock compensation DTA adjustment - - Change in valuation allowance 1,976 1,982 RTP and other 109 - Income tax expense (benefit) $ - $ - |
Schedule of deferred tax assets | December 31, 2021 2020 Deferred tax assets: ASC 842 leases $ 130 $ 167 Federal and state net operating loss carryovers 19,448 17,548 Stock-Based Compensation 333 289 Compensation accruals and other 139 84 Depreciation - 17 Total deferred tax assets 20,050 18,105 Valuation allowance for deferred tax assets (19,916 ) (17,940 ) Deferred tax assets, net of valuation allowance 134 165 Deferred tax liabilities: Depreciation (7 ) - ASC 842 assets (127 ) (165 Total deferred tax liabilities (134 ) (165 ) $ - $ - |
Schedule of unrecognized tax benefits | Years Ended 2021 2020 Gross unrecognized tax benefits at the beginning of the year $ - $ - Increases related to current year positions - - Increases related to prior year positions - - Decreases related to prior year positions - - Expiration of unrecognized tax benefits - - Gross unrecognized tax benefits at the end of the year $ - $ - |
Commitments and Contingencies (
Commitments and Contingencies (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Commitments and Contingencies Disclosure [Abstract] | |
Schedule of future minimum lease payments under non-cancellable operating lease and future minimum capital lease payments | Finance Operating Years Ending December 31, 2022 $ 28 $ 194 2023 - 198 2024 - 186 Total minimum lease payments $ 28 $ 578 Finance Less: amounts representing interest (11.43%) $ (1 ) Present value of minimum lease payments 27 Less: current installments under finance lease obligations (27 ) Total long-term portion $ - |
Organization and Description _2
Organization and Description of Business (Details) - USD ($) $ in Thousands | 1 Months Ended | 12 Months Ended | |
Apr. 15, 2021 | Dec. 31, 2021 | Dec. 31, 2020 | |
Organization and Description of Business (Details) [Line Items] | |||
Net proceeds received | $ 84,300 | ||
Proceeds from licensing fees | 1,700 | ||
Proceeds from product sales | 1,500 | ||
Accumulated deficit | 112,500 | ||
Cash and cash equivalents | $ 9,300 | ||
Customer percentage | 10.00% | ||
Number of customer | 1 | ||
Sales | $ 600 | $ 282 | |
Sales [Member] | |||
Organization and Description of Business (Details) [Line Items] | |||
Sales | $ 44 | ||
Sales percentage | 15.00% | ||
Paycheck Protection Program [Member] | |||
Organization and Description of Business (Details) [Line Items] | |||
Cash proceeds received from paycheck protection program | $ 645,700 |
Summary of Significant Accoun_3
Summary of Significant Accounting Policies (Details) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Accounting Policies [Abstract] | ||
Money market fund | $ 8,800 | $ 1,500 |
Summary of Significant Accoun_4
Summary of Significant Accounting Policies (Details) - Schedule components of inventory - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Schedule components of inventory [Abstract] | ||
Raw materials | $ 937 | $ 950 |
Work in progress | 5 | 24 |
Finished goods | 88 | 94 |
Total inventory | 1,030 | 1,068 |
Less: | ||
Reserve for obsolete | (29) | (123) |
Total net inventory | $ 1,001 | $ 945 |
Summary of Significant Accoun_5
Summary of Significant Accounting Policies (Details) - Schedule of stock-based compensation expense - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items] | ||
Total stock-based compensation expense | $ 765 | $ 645 |
Research and development [Member] | ||
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items] | ||
Total stock-based compensation expense | 3 | 9 |
General and administrative [Member] | ||
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items] | ||
Total stock-based compensation expense | $ 762 | $ 636 |
Summary of Significant Accoun_6
Summary of Significant Accounting Policies (Details) - Schedule of calculation of diluted loss per share attributable to common stockholders - shares | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Total | 5,619,934 | 3,111,240 |
Common stock purchase warrants [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Total | 4,531,447 | 2,582,697 |
Restricted stock unit [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Total | 667 | 32,072 |
Common stock options [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Total | 1,087,820 | 496,471 |
Credit Risk (Details)
Credit Risk (Details) $ in Thousands | 12 Months Ended |
Dec. 31, 2021USD ($) | |
Credit Risk (Details) [Line Items] | |
Credit risk receivable (in Dollars) | $ 123 |
Number of customer | 1 |
Receivable [Member] | |
Credit Risk (Details) [Line Items] | |
Number of customer | 2 |
Concentration risk percentage | 33.00% |
Prepaid Expenses (Details) - Sc
Prepaid Expenses (Details) - Schedule of prepaid expenses - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Schedule of prepaid expenses [Abstract] | ||
Director, officer and other insurance | $ 109 | $ 18 |
Marketing programs and conferences | 66 | 106 |
Patents | 41 | |
Legal retainer | 25 | |
Professional service retainer | 8 | |
Rent | 18 | |
Engineering, software licenses and other | 14 | 3 |
Total prepaid expenses | $ 230 | $ 178 |
Property and Equipment (Details
Property and Equipment (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Property, Plant and Equipment [Abstract] | ||
Net proceeds | $ 1 | $ 47 |
Sale of assets | 0 | 21 |
Depreciation and amortization expense | $ 303 | $ 288 |
Property and Equipment (Detai_2
Property and Equipment (Details) - Schedule of property and equipment - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | ||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment, gross | $ 2,439 | $ 2,623 | |
Less accumulated depreciation and amortization | 2,105 | 2,085 | |
Total property and equipment | $ 334 | 538 | |
Research and development equipment [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment, useful life | 5 years | ||
Property, plant and equipment, gross | $ 1,425 | 1,397 | |
Office and computer equipment [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment, useful life | 3 years | ||
Property, plant and equipment, gross | $ 762 | 733 | |
Autos [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment, useful life | 5 years | ||
Property, plant and equipment, gross | $ 54 | 54 | |
Furniture and fixtures [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment, useful life | 7 years | ||
Property, plant and equipment, gross | $ 41 | 41 | |
Leasehold improvements [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment, useful life | [1] | ||
Property, plant and equipment, gross | $ 112 | 283 | |
Construction in Progress [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment, gross | $ 45 | $ 115 | |
[1] | Shorter of lease term or estimated useful life |
Accrued Expenses (Details) - Sc
Accrued Expenses (Details) - Schedule of accrued expenses - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Schedule of accrued expenses [Abstract] | ||
Compensation, severance and related benefits | $ 524 | $ 218 |
Legal services | 17 | |
Product warranty | 18 | |
Personal property and franchise tax | 5 | 57 |
Other | 14 | 17 |
Total accrued expenses | $ 578 | $ 292 |
Borrowings (Details)
Borrowings (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Jun. 18, 2021 | |
Borrowings (Details) [Line Items] | ||
Interest rate | 11.43% | |
Principal amount | $ 645,700 | |
Finance Lease Obligations [Member] | ||
Borrowings (Details) [Line Items] | ||
Expire date | Apr. 18, 2022 | |
Interest rate | 11.40% | |
Other Promissory Notes [Member] | ||
Borrowings (Details) [Line Items] | ||
Expire date | Jul. 1, 2022 | |
Interest rate | 13.30% |
Borrowings (Details) - Schedule
Borrowings (Details) - Schedule of finance lease obligations - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Short-term debt: | ||
Current portion of long-term debt | $ 32 | $ 98 |
Total short-term debt | 32 | 98 |
Long-term debt: | ||
Finance lease obligations | 79 | |
Other unsecured promissory notes | 692 | |
Total | 771 | |
Less: current portion of long-term debt | 32 | 98 |
Total long-term debt | $ 673 |
Common Stock Warrants and Com_3
Common Stock Warrants and Common Stock Warrant Liability (Details) - USD ($) $ / shares in Units, $ in Thousands | Oct. 26, 2020 | Mar. 04, 2020 | Mar. 03, 2020 | Jan. 28, 2020 | Aug. 13, 2018 | Jul. 24, 2018 | Nov. 21, 2017 | Mar. 23, 2021 | Feb. 28, 2021 | Oct. 31, 2020 | Oct. 26, 2020 | Apr. 24, 2020 | Mar. 31, 2020 | Jan. 31, 2020 | Jan. 28, 2020 | Jul. 31, 2019 | Jun. 30, 2018 | Jun. 20, 2018 | Dec. 31, 2021 | Dec. 31, 2020 | Mar. 06, 2020 |
Common Stock Warrants and Common Stock Warrant Liability (Details) [Line Items] | |||||||||||||||||||||
Expected volatility rate | 95.80% | 92.10% | |||||||||||||||||||
Expected term | 3 years 3 days | 3 years 6 months | |||||||||||||||||||
Expected dividend rate | |||||||||||||||||||||
Risk free interest rate | 0.46% | 0.17% | |||||||||||||||||||
Deemed dividend (in Dollars) | $ 285 | ||||||||||||||||||||
Unexercised warrants (in Shares) | 143,501 | ||||||||||||||||||||
Share price | $ 0.98 | $ 1.73 | |||||||||||||||||||
Stock compensation expense (in Dollars) | $ 765 | $ 645 | |||||||||||||||||||
Common stock, par value | $ 0.001 | $ 0.001 | |||||||||||||||||||
Common stock sold (in Shares) | 4,188,854 | ||||||||||||||||||||
Warrant activity [Member] | |||||||||||||||||||||
Common Stock Warrants and Common Stock Warrant Liability (Details) [Line Items] | |||||||||||||||||||||
Exercise price | $ 2.1122 | $ 19 | $ 29.4 | $ 30 | |||||||||||||||||
Adjusted exercise price | $ 2.1122 | $ 19 | |||||||||||||||||||
Downward exercise price | 1.3659 | 7.13 | |||||||||||||||||||
Outstanding Warrants [Member] | |||||||||||||||||||||
Common Stock Warrants and Common Stock Warrant Liability (Details) [Line Items] | |||||||||||||||||||||
Exercise price | $ 30 | ||||||||||||||||||||
Downward exercise price | $ 29.4 | ||||||||||||||||||||
Common stock offering warrants issued, value (in Shares) | 4,531,447 | ||||||||||||||||||||
Weighted-average exercise price | $ 4 | ||||||||||||||||||||
Common Stock Offering Warrants Issued [Member] | |||||||||||||||||||||
Common Stock Warrants and Common Stock Warrant Liability (Details) [Line Items] | |||||||||||||||||||||
Exercise price | 19 | $ 30 | $ 36.4 | $ 36.4 | |||||||||||||||||
Common stock offering warrants issued, value (in Shares) | 232,875 | ||||||||||||||||||||
Number of warrant purchased (in Shares) | 56,696 | 56,696 | |||||||||||||||||||
Common stock per share | $ 20 | $ 42.2 | |||||||||||||||||||
Warrant term | 5 years | ||||||||||||||||||||
Fair value of common stock warrant (in Dollars) | $ 661 | ||||||||||||||||||||
Per share price | $ 20 | ||||||||||||||||||||
Expected volatility rate | 73.80% | 73.80% | 72.60% | ||||||||||||||||||
Expected term | 5 years | 2 years 9 months 25 days | 5 years | ||||||||||||||||||
Expected dividend rate | 0.00% | 0.00% | 0.00% | ||||||||||||||||||
Risk free interest rate | 1.87% | 1.45% | 2.80% | ||||||||||||||||||
Share price | 7.9 | $ 7.9 | |||||||||||||||||||
Stock compensation expense (in Dollars) | $ 1,700 | ||||||||||||||||||||
Fair value adjustment of warrants (in Dollars) | $ 1,700 | ||||||||||||||||||||
Common Stock Warrant Issued to Underwriter of Common Stock Offering [Member] | |||||||||||||||||||||
Common Stock Warrants and Common Stock Warrant Liability (Details) [Line Items] | |||||||||||||||||||||
Exercise price | $ 7.13 | $ 7.13 | |||||||||||||||||||
Common stock per share | $ 2.156 | ||||||||||||||||||||
Expected volatility rate | 74.50% | 96.50% | |||||||||||||||||||
Expected term | 2 years 8 months 15 days | 2 years 29 days | |||||||||||||||||||
Expected dividend rate | 0.00% | 0.00% | |||||||||||||||||||
Risk free interest rate | 0.68% | 0.18% | |||||||||||||||||||
Deemed dividend (in Dollars) | $ 129 | $ 22 | |||||||||||||||||||
Share price | $ 1.47 | $ 2.88 | $ 1.47 | ||||||||||||||||||
Warrants exercise price | $ 2.1122 | $ 1.3659 | |||||||||||||||||||
Unexercised warrants (in Shares) | 143,501 | 143,501 | |||||||||||||||||||
November 2017 warrants [Member] | |||||||||||||||||||||
Common Stock Warrants and Common Stock Warrant Liability (Details) [Line Items] | |||||||||||||||||||||
Common stock offering warrants issued, value (in Shares) | 56,696 | ||||||||||||||||||||
Number of warrant purchased (in Shares) | 56,696 | ||||||||||||||||||||
Common stock per share | $ 30 | ||||||||||||||||||||
Gross proceeds (in Dollars) | $ 1,700 | ||||||||||||||||||||
New Warrants November 8, 2017 [Member] | |||||||||||||||||||||
Common Stock Warrants and Common Stock Warrant Liability (Details) [Line Items] | |||||||||||||||||||||
Number of warrant purchased (in Shares) | 17,088 | ||||||||||||||||||||
Gross proceeds (in Dollars) | $ 513 | ||||||||||||||||||||
Common Stock Warrants Issued to Placement Agent in 2020 Registered Direct Offerings and Private Placement [Member] | |||||||||||||||||||||
Common Stock Warrants and Common Stock Warrant Liability (Details) [Line Items] | |||||||||||||||||||||
Exercise price | $ 23 | $ 34.5 | |||||||||||||||||||
Common stock offering warrants issued, value (in Shares) | 267,853 | 13,393 | |||||||||||||||||||
Common stock per share | $ 18.8 | $ 18.8 | |||||||||||||||||||
Fair value of common stock warrant (in Dollars) | $ 3,600 | $ 169 | |||||||||||||||||||
Expected volatility rate | 159.00% | 159.00% | |||||||||||||||||||
Expected term | 5 years | 5 years | |||||||||||||||||||
Expected dividend rate | 0.00% | 0.00% | |||||||||||||||||||
Risk free interest rate | 2.77% | 2.77% | |||||||||||||||||||
Share price | $ 23 | ||||||||||||||||||||
Purchase of warrants shares (in Shares) | 267,853 | ||||||||||||||||||||
Common Stock Warrants Issued to Placement Agent in 2020 Registered Direct Offerings and Private Placement [Member] | H.C. Wainwright & Co., LLC [Member] | |||||||||||||||||||||
Common Stock Warrants and Common Stock Warrant Liability (Details) [Line Items] | |||||||||||||||||||||
Exercise price | $ 33.75 | ||||||||||||||||||||
Number of warrant purchased (in Shares) | 8,334 | ||||||||||||||||||||
Common stock per share | $ 33.75 | ||||||||||||||||||||
Fair value of common stock warrant (in Dollars) | $ 127 | ||||||||||||||||||||
Expected volatility rate | 133.30% | ||||||||||||||||||||
Expected term | 5 years | ||||||||||||||||||||
Expected dividend rate | 0.00% | ||||||||||||||||||||
Risk free interest rate | 2.07% | ||||||||||||||||||||
Share price | $ 26.8 | ||||||||||||||||||||
Common Stock Warrants Issued in January and March 2020 Private Placements [Member] | |||||||||||||||||||||
Common Stock Warrants and Common Stock Warrant Liability (Details) [Line Items] | |||||||||||||||||||||
Exercise price | $ 2.88 | $ 9 | |||||||||||||||||||
Common stock offering warrants issued, value (in Shares) | 353,872 | ||||||||||||||||||||
Number of warrant purchased (in Shares) | 176,372 | 177,500 | |||||||||||||||||||
Expected volatility rate | 74.80% | 73.80% | |||||||||||||||||||
Expected term | 5 years 6 months | 5 years | |||||||||||||||||||
Expected dividend rate | 0.00% | 0.00% | |||||||||||||||||||
Risk free interest rate | 0.39% | 1.53% | |||||||||||||||||||
Common stock warrants, exercisable | $ 2.88 | $ 9 | |||||||||||||||||||
Common stock warrants, exercisable amount (in Dollars) | $ 242 | $ 813 | |||||||||||||||||||
Common stock price | $ 2.35 | $ 7.9 | |||||||||||||||||||
Ownership percentage | 50.00% | ||||||||||||||||||||
Common Stock Warrants Issued in April 2020 Public Offering [Member] | |||||||||||||||||||||
Common Stock Warrants and Common Stock Warrant Liability (Details) [Line Items] | |||||||||||||||||||||
Exercise price | $ 3.05 | ||||||||||||||||||||
Number of warrant purchased (in Shares) | 1,574,308 | ||||||||||||||||||||
Expected volatility rate | 87.90% | ||||||||||||||||||||
Expected term | 5 years | ||||||||||||||||||||
Expected dividend rate | 0.00% | ||||||||||||||||||||
Risk free interest rate | 0.18% | ||||||||||||||||||||
Common stock warrants, exercisable | $ 3,050 | ||||||||||||||||||||
Common stock warrants, exercisable amount (in Dollars) | $ 2,402 | ||||||||||||||||||||
Common stock price | $ 2.4 | ||||||||||||||||||||
Warrant expire date | Apr. 24, 2025 | ||||||||||||||||||||
Common Stock Warrants Issued to Placement Agent in 2020 Registered Direct Offerings and Private Placement [Member] | |||||||||||||||||||||
Common Stock Warrants and Common Stock Warrant Liability (Details) [Line Items] | |||||||||||||||||||||
Exercise price | $ 3.97 | $ 2.35 | $ 7.9 | 2.4 | |||||||||||||||||
Common stock offering warrants issued, value (in Shares) | 13,313 | 13,228 | |||||||||||||||||||
Common stock per share | $ 3.7563 | $ 10 | $ 3.97 | ||||||||||||||||||
Expected volatility rate | 74.80% | 73.80% | 87.90% | ||||||||||||||||||
Expected term | 5 years 6 months | 5 years | 5 years 6 months | ||||||||||||||||||
Expected dividend rate | 0.00% | 0.00% | 0.00% | ||||||||||||||||||
Risk free interest rate | 0.39% | 1.53% | 0.18% | ||||||||||||||||||
Common stock warrants, exercisable | $ 10 | ||||||||||||||||||||
Common stock warrants, exercisable amount (in Dollars) | $ 17 | $ 58 | $ 167 | ||||||||||||||||||
Exercise outstanding warrants (in Shares) | 1,700,680 | ||||||||||||||||||||
Common Stock Warrants Issued to Placement Agent in 2020 Registered Direct Offerings and Private Placement [Member] | H.C. Wainwright & Co., LLC [Member] | |||||||||||||||||||||
Common Stock Warrants and Common Stock Warrant Liability (Details) [Line Items] | |||||||||||||||||||||
Number of warrant purchased (in Shares) | 118,073 | ||||||||||||||||||||
Common Stock Warrants Issued to Placement Agent in October 2020 Inducement Offering [Member] | |||||||||||||||||||||
Common Stock Warrants and Common Stock Warrant Liability (Details) [Line Items] | |||||||||||||||||||||
Exercise price | $ 1.725 | $ 1.725 | |||||||||||||||||||
Adjusted exercise price | 3.05 | ||||||||||||||||||||
Downward exercise price | $ 2.88 | ||||||||||||||||||||
Warrant term | 5 years | ||||||||||||||||||||
Expected volatility rate | 96.50% | ||||||||||||||||||||
Expected term | 5 years 6 months | ||||||||||||||||||||
Expected dividend rate | 0.00% | ||||||||||||||||||||
Risk free interest rate | 0.18% | ||||||||||||||||||||
Share price | $ 1.47 | ||||||||||||||||||||
Purchase of warrants shares (in Shares) | 1,700,680 | ||||||||||||||||||||
Common stock warrants, exercisable | $ 1.725 | ||||||||||||||||||||
Common stock warrants, exercisable amount (in Dollars) | $ 1,806 | ||||||||||||||||||||
Common Stock Warrants Issued to Placement Agent in October 2020 Inducement Offering [Member] | H.C. Wainwright & Co., LLC [Member] | |||||||||||||||||||||
Common Stock Warrants and Common Stock Warrant Liability (Details) [Line Items] | |||||||||||||||||||||
Purchase of warrants shares (in Shares) | 85,034 | ||||||||||||||||||||
Common Stock Warrants Issued to Placement Agent in October 2020 Inducement Offering [Member] | |||||||||||||||||||||
Common Stock Warrants and Common Stock Warrant Liability (Details) [Line Items] | |||||||||||||||||||||
Common stock per share | $ 1.47 | ||||||||||||||||||||
Fair value of common stock warrant (in Dollars) | $ 86 | ||||||||||||||||||||
Expected volatility rate | 96.50% | ||||||||||||||||||||
Expected term | 5 years 6 months | ||||||||||||||||||||
Expected dividend rate | 0.00% | ||||||||||||||||||||
Risk free interest rate | 0.18% | ||||||||||||||||||||
Fair value adjustment of warrants (in Dollars) | $ 237 | ||||||||||||||||||||
Purchase of warrants shares (in Shares) | 1,700,680 | ||||||||||||||||||||
Common Stock Warrants Issued to Placement Agent in October 2020 Inducement Offering [Member] | H.C. Wainwright & Co., LLC [Member] | |||||||||||||||||||||
Common Stock Warrants and Common Stock Warrant Liability (Details) [Line Items] | |||||||||||||||||||||
Exercise price | $ 2.156 | ||||||||||||||||||||
Common Stock Warrants Issued in February 2021 Private Placement Agreement [Member] | |||||||||||||||||||||
Common Stock Warrants and Common Stock Warrant Liability (Details) [Line Items] | |||||||||||||||||||||
Exercise price | $ 2.216 | $ 2.216 | |||||||||||||||||||
Common stock per share | $ 1.93 | ||||||||||||||||||||
Expected volatility rate | 95.60% | ||||||||||||||||||||
Expected term | 5 years 6 months | ||||||||||||||||||||
Expected dividend rate | 0.00% | ||||||||||||||||||||
Risk free interest rate | 0.18% | ||||||||||||||||||||
Fair value adjustment of warrants (in Dollars) | $ 3,052 | ||||||||||||||||||||
Purchase of warrants shares (in Shares) | 2,194,427 | ||||||||||||||||||||
Common Stock Warrants Issued in February 2021 Private Placement Agreement [Member] | H.C. Wainwright & Co., LLC [Member] | |||||||||||||||||||||
Common Stock Warrants and Common Stock Warrant Liability (Details) [Line Items] | |||||||||||||||||||||
Exercise price | $ 2.8481 | ||||||||||||||||||||
Common Stock Warrants Issued to Placement Agent in February 2021 Private Placement Agreement [Member] | |||||||||||||||||||||
Common Stock Warrants and Common Stock Warrant Liability (Details) [Line Items] | |||||||||||||||||||||
Exercise price | $ 2.8481 | ||||||||||||||||||||
Common stock per share | $ 1.93 | ||||||||||||||||||||
Expected volatility rate | 95.60% | ||||||||||||||||||||
Expected term | 5 years 6 months | ||||||||||||||||||||
Expected dividend rate | 0.00% | ||||||||||||||||||||
Risk free interest rate | 0.18% | ||||||||||||||||||||
Fair value adjustment of warrants (in Dollars) | $ 435 | ||||||||||||||||||||
Common Stock Warrants Issued to Placement Agent in February 2021 Private Placement Agreement [Member] | H.C. Wainwright & Co., LLC [Member] | |||||||||||||||||||||
Common Stock Warrants and Common Stock Warrant Liability (Details) [Line Items] | |||||||||||||||||||||
Purchase of warrants shares (in Shares) | 329,164 | ||||||||||||||||||||
Common Stock Warrants Issued to Placement Agent in March 2021 Registered Direct Offering [Member] | |||||||||||||||||||||
Common Stock Warrants and Common Stock Warrant Liability (Details) [Line Items] | |||||||||||||||||||||
Exercise price | $ 2.5 | ||||||||||||||||||||
Common stock offering warrants issued, value (in Shares) | 1,975,000 | ||||||||||||||||||||
Warrant term | 5 years | ||||||||||||||||||||
Per share price | $ 2.5 | ||||||||||||||||||||
Expected volatility rate | 100.80% | ||||||||||||||||||||
Expected term | 5 years | ||||||||||||||||||||
Expected dividend rate | 0.00% | ||||||||||||||||||||
Risk free interest rate | 0.31% | ||||||||||||||||||||
Share price | $ 2 | $ 1.76 | |||||||||||||||||||
Stock compensation expense (in Dollars) | $ 181 | ||||||||||||||||||||
Purchase of warrants shares (in Shares) | 148,125 | ||||||||||||||||||||
Common stock, par value | $ 0.001 | ||||||||||||||||||||
Deducting fees payable (in Dollars) | $ 3,950 | ||||||||||||||||||||
Common stock sold (in Shares) | 1,975,000 | ||||||||||||||||||||
Deemed Dividend Adjustment-Warrant Modified Terms Revaluation [Member] | |||||||||||||||||||||
Common Stock Warrants and Common Stock Warrant Liability (Details) [Line Items] | |||||||||||||||||||||
Exercise price | $ 1.725 | ||||||||||||||||||||
Common stock offering warrants issued, value (in Shares) | 56,625 | ||||||||||||||||||||
Common stock per share | $ 1.47 | ||||||||||||||||||||
Expected volatility rate | 96.50% | ||||||||||||||||||||
Expected dividend rate | 0.00% | ||||||||||||||||||||
Risk free interest rate | 0.18% | ||||||||||||||||||||
Exercise outstanding warrants (in Shares) | 1,700,680 | ||||||||||||||||||||
Aggregate issued common shares (in Shares) | 51,414 | ||||||||||||||||||||
Outstanding litigation reserve (in Dollars) | $ 238 | ||||||||||||||||||||
Deemed Dividend Adjustment-Warrant Modified Terms Revaluation [Member] | Minimum [Member] | |||||||||||||||||||||
Common Stock Warrants and Common Stock Warrant Liability (Details) [Line Items] | |||||||||||||||||||||
Exercise price | $ 2.88 | ||||||||||||||||||||
Expected term | 4 years 6 months | ||||||||||||||||||||
Deemed Dividend Adjustment-Warrant Modified Terms Revaluation [Member] | Maximum [Member] | |||||||||||||||||||||
Common Stock Warrants and Common Stock Warrant Liability (Details) [Line Items] | |||||||||||||||||||||
Exercise price | $ 3.05 | ||||||||||||||||||||
Expected term | 8 years | ||||||||||||||||||||
Public Offering [Member] | |||||||||||||||||||||
Common Stock Warrants and Common Stock Warrant Liability (Details) [Line Items] | |||||||||||||||||||||
Number of warrant purchased (in Shares) | 293,000 | ||||||||||||||||||||
Common Class A [Member] | Common Stock Warrants Issued in April 2020 Public Offering [Member] | |||||||||||||||||||||
Common Stock Warrants and Common Stock Warrant Liability (Details) [Line Items] | |||||||||||||||||||||
Common stock offering warrants issued, value (in Shares) | 145,586 | ||||||||||||||||||||
Common Class A [Member] | Common Stock Warrants Issued to Placement Agent in 2020 Registered Direct Offerings and Private Placement [Member] | |||||||||||||||||||||
Common Stock Warrants and Common Stock Warrant Liability (Details) [Line Items] | |||||||||||||||||||||
Common stock offering warrants issued, value (in Shares) | 145,586 | ||||||||||||||||||||
Common Class B [Member] | Common Stock Warrants Issued in April 2020 Public Offering [Member] | |||||||||||||||||||||
Common Stock Warrants and Common Stock Warrant Liability (Details) [Line Items] | |||||||||||||||||||||
Common stock offering warrants issued, value (in Shares) | 1,428,722 | ||||||||||||||||||||
Common Class B [Member] | Common Stock Warrants Issued to Placement Agent in 2020 Registered Direct Offerings and Private Placement [Member] | |||||||||||||||||||||
Common Stock Warrants and Common Stock Warrant Liability (Details) [Line Items] | |||||||||||||||||||||
Common stock offering warrants issued, value (in Shares) | 1,428,722 |
Common Stock Warrants and Com_4
Common Stock Warrants and Common Stock Warrant Liability (Details) - Schedule of common stock warrant activity - shares | 12 Months Ended | |||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | ||
Class of Warrant or Right [Line Items] | ||||
Outstanding at beginning | 2,582,697 | 489,176 | ||
Outstanding at ending | 4,531,447 | |||
Various [Member] | ||||
Class of Warrant or Right [Line Items] | ||||
Warrant Type | Various | |||
Term Date | Various-2020/2021 | |||
Exercise Price | Various | |||
Outstanding at beginning | 17,059 | |||
Issued | ||||
Exercised | (9,375) | |||
Expired | (7,684) | |||
Outstanding at ending | ||||
Common Stock Offering Warrants [Member] | ||||
Class of Warrant or Right [Line Items] | ||||
Warrant Type | Common Stock Offering Warrants | |||
Term Date | November 21, 2022 | |||
Exercise Price | [1] | $1.3659 | ||
Outstanding at beginning | 143,501 | 143,501 | ||
Issued | ||||
Exercised | (21,787) | |||
Expired | ||||
Outstanding at ending | 121,714 | |||
Dealer Manager Warrants [Member] | ||||
Class of Warrant or Right [Line Items] | ||||
Warrant Type | Dealer Manager Warrants | |||
Term Date | November 21, 2022 | |||
Exercise Price | $30.00 | |||
Outstanding at beginning | 47,250 | |||
Issued | ||||
Exercised | (47,250) | |||
Expired | ||||
Outstanding at ending | ||||
Warrant Reissue [Member] | ||||
Class of Warrant or Right [Line Items] | ||||
Warrant Type | Warrant Reissue | |||
Term Date | December 20, 2023 | |||
Exercise Price | $36.40 | |||
Outstanding at beginning | 56,696 | 56,696 | ||
Issued | ||||
Exercised | ||||
Expired | ||||
Outstanding at ending | 56,696 | |||
Rights Offering Warrants [Member] | ||||
Class of Warrant or Right [Line Items] | ||||
Warrant Type | Rights Offering Warrants | |||
Term Date | July 25, 2023 | |||
Exercise Price | $23.00 | |||
Outstanding at beginning | 202,943 | 202,943 | ||
Issued | ||||
Exercised | (499) | |||
Expired | ||||
Outstanding at ending | 202,444 | |||
Dealer Manager Warrants [Member] | ||||
Class of Warrant or Right [Line Items] | ||||
Warrant Type | Dealer Manager Warrants | |||
Term Date | August 13, 2023 | |||
Exercise Price | $34.50 | |||
Outstanding at beginning | 13,393 | 13,393 | ||
Issued | ||||
Exercised | ||||
Expired | ||||
Outstanding at ending | 13,393 | |||
Dealer Manager Warrants [Member] | ||||
Class of Warrant or Right [Line Items] | ||||
Warrant Type | Dealer Manager Warrants | |||
Term Date | July 11, 2024 | |||
Exercise Price | $33.75 | |||
Outstanding at beginning | 8,334 | 8,334 | ||
Issued | ||||
Exercised | ||||
Expired | ||||
Outstanding at ending | 8,334 | |||
Registered Direct Offering [Member] | ||||
Class of Warrant or Right [Line Items] | ||||
Warrant Type | Registered Direct Offering | |||
Term Date | July 28, 2025 | |||
Exercise Price | $9.00 | |||
Outstanding at beginning | 177,500 | |||
Issued | 177,500 | |||
Exercised | ||||
Expired | ||||
Outstanding at ending | 177,500 | |||
Dealer Manager Warrants [Member] | ||||
Class of Warrant or Right [Line Items] | ||||
Warrant Type | Dealer Manager Warrants | |||
Term Date | July 28, 2025 | |||
Exercise Price | $10.00 | |||
Outstanding at beginning | 13,315 | |||
Issued | 13,315 | |||
Exercised | ||||
Expired | ||||
Outstanding at ending | 13,315 | |||
Registered Direct Offering [Member] | ||||
Class of Warrant or Right [Line Items] | ||||
Warrant Type | Registered Direct Offering | |||
Term Date | September 8, 2025 | |||
Exercise Price | $2.88 | |||
Outstanding at beginning | ||||
Issued | 176,372 | |||
Exercised | (176,372) | |||
Expired | ||||
Outstanding at ending | ||||
Dealer Manager Warrants [Member] | ||||
Class of Warrant or Right [Line Items] | ||||
Warrant Type | Dealer Manager Warrants | |||
Term Date | March 4, 2025 | |||
Exercise Price | $3.76 | |||
Outstanding at beginning | 13,228 | |||
Issued | 13,228 | |||
Exercised | ||||
Expired | ||||
Outstanding at ending | 13,228 | |||
Dealer Manager Warrants [Member] | ||||
Class of Warrant or Right [Line Items] | ||||
Warrant Type | Dealer Manager Warrants | |||
Term Date | April 21, 2025 | |||
Exercise Price | $3.97 | |||
Outstanding at beginning | 118,073 | |||
Issued | 118,073 | |||
Exercised | ||||
Expired | ||||
Outstanding at ending | 118,073 | |||
Registered Direct Offering [Member[ | ||||
Class of Warrant or Right [Line Items] | ||||
Warrant Type | Registered Direct Offering | |||
Term Date | April 24, 2025 | |||
Exercise Price | $3.05 | |||
Outstanding at beginning | 50,000 | |||
Issued | 1,574,308 | |||
Exercised | (1,524,308) | |||
Expired | ||||
Outstanding at ending | 50,000 | |||
Private Warrant Inducement [Member] | ||||
Class of Warrant or Right [Line Items] | ||||
Warrant Type | Private Warrant Inducement | |||
Term Date | April 27, 2026 | |||
Exercise Price | $1.73 | |||
Outstanding at beginning | 1,700,680 | |||
Issued | 1,700,680 | |||
Exercised | (700,680) | |||
Expired | ||||
Outstanding at ending | 1,000,000 | |||
Dealer Manager Warrants [Member] | ||||
Class of Warrant or Right [Line Items] | ||||
Warrant Type | Dealer Manager Warrants | |||
Term Date | April 27, 2026 | |||
Exercise Price | $2.16 | |||
Outstanding at beginning | 85,034 | |||
Issued | 85,034 | |||
Exercised | ||||
Expired | ||||
Outstanding at ending | 85,034 | |||
Private Placement Agreement [Member] | ||||
Class of Warrant or Right [Line Items] | ||||
Warrant Type | Private Placement Agreement | |||
Term Date | August 2, 2026 | |||
Exercise Price | $2.216 | |||
Outstanding at beginning | ||||
Issued | 2,194,427 | |||
Exercised | ||||
Expired | ||||
Outstanding at ending | 2,194,427 | |||
Dealer Manager Warrants [Member] | ||||
Class of Warrant or Right [Line Items] | ||||
Warrant Type | Dealer Manager Warrants | |||
Term Date | August 2, 2026 | |||
Exercise Price | $2.848 | |||
Outstanding at beginning | ||||
Issued | 329,164 | |||
Exercised | ||||
Expired | ||||
Outstanding at ending | 329,164 | |||
Dealer Manager Warrants [Member] | ||||
Class of Warrant or Right [Line Items] | ||||
Warrant Type | Dealer Manager Warrants | |||
Term Date | March 23, 2026 | |||
Exercise Price | $2.50 | |||
Outstanding at beginning | ||||
Issued | 148,125 | |||
Exercised | ||||
Expired | ||||
Outstanding at ending | 148,125 | |||
[1] | The initial exercise price of these warrants was $30.00 per share. Pursuant to antidilution price adjustment protection contained within these warrants, the initial exercise price of these warrants was adjusted downward to $29.40 on July 24, 2018, the record date of the Right’s Offering and downward to $19.00 per share on August 13, 2018. These warrants were further adjusted downward from $19.00 to $7.13 and to $2.1122 on January 28, 2020 and March 4, 2020, respectively, in connection with separate Registered Direct Offerings. These warrants were further adjusted downward from $2.1122 to $1.3659 on October 26, 2020 in connection with a Registered Direct Offering. These warrants are subject to further adjustment pursuant to antidilution price adjustment protection. |
Stockholders_ Deficit (Details)
Stockholders’ Deficit (Details) - USD ($) $ / shares in Units, $ in Thousands | Feb. 02, 2021 | Oct. 31, 2021 | Jul. 31, 2021 | Jun. 30, 2021 | Mar. 31, 2021 | Mar. 29, 2021 | Mar. 23, 2021 | Feb. 28, 2021 | Sep. 30, 2021 | Dec. 31, 2021 | Dec. 31, 2020 | Nov. 10, 2015 |
Stockholders’ Deficit (Details) [Line Items] | ||||||||||||
Capital stock, description | (i) 100 million shares of common stock, $0.001 par value, and (ii) 2 million shares of preferred stock, $0.001 par value, designated as Series A convertible preferred stock. In December 2015, we amended our Certificate of Incorporation to change our authorized capital stock to provide for 15 million authorized shares of preferred stock of which 7,515,000 was designated as Series B convertible preferred stock, par value $.001 per share. | |||||||||||
Common stock, shares authorized | 100,000,000 | 100,000,000 | ||||||||||
Common stock, shares issued | 12,207,283 | 5,099,512 | ||||||||||
Common stock, share outstanding | 12,207,283 | 5,099,512 | ||||||||||
Aggregate of shares, private placement offering | 4,188,854 | |||||||||||
Net proceeds (in Dollars) | $ 3,523 | |||||||||||
Aggregate of shares, direct offering | 1,975,000 | |||||||||||
Aggregate of shares, exercise of common stock warrants | 922,966 | 922,966 | 922,966 | 922,966 | ||||||||
Generating net proceeds (in Dollars) | $ 1,250 | $ 1,250 | $ 1,250 | $ 1,250 | ||||||||
Aggregate of shares,, restricted stock units | 20,951 | |||||||||||
Common stock, par value (in Dollars per share) | $ 0.001 | $ 0.001 | ||||||||||
Registered direct offering, description | On March 23, 2021, we consummated a registered direct offering with certain institutional investors and issued an aggregate of 1,975,000 shares of our common stock, par value $0.001 per share at a purchase price of $2.00 per share for gross proceeds to us of approximately $3.95 million, pursuant to a prospectus, dated August 24, 2018, and a prospectus supplement, dated March 22, 2021, in connection with a takedown from our shelf registration statement on Form S-3 (File No. 333-225712). | |||||||||||
Aggregate of shares, description | On March 19, 2021, June 22, 2021, July 15, 2021 and October 7, 2021, we issued an aggregate of 700, 680, 499, 5,616 and 16,171 shares of commons stock for the exercise of certain warrants, respectively. The net proceeds to us for these exercises was $1,250. | |||||||||||
Placement Agent Warrants [Member] | ||||||||||||
Stockholders’ Deficit (Details) [Line Items] | ||||||||||||
Purchase of aggregate shares | 148,125 | |||||||||||
Exercise price per share (in Dollars per share) | $ 2.5 | |||||||||||
Common Stock [Member] | ||||||||||||
Stockholders’ Deficit (Details) [Line Items] | ||||||||||||
Common stock, shares authorized | 100,000,000 | |||||||||||
Common stock, shares issued | 12,207,283 | |||||||||||
Common stock, share outstanding | 5,099,512 | |||||||||||
Shares issued | 7,107,771 | |||||||||||
Preferred Stock [Member] | ||||||||||||
Stockholders’ Deficit (Details) [Line Items] | ||||||||||||
Preferred stock, shares authorized | 10,000,000 | |||||||||||
Private Placement [Member] | ||||||||||||
Stockholders’ Deficit (Details) [Line Items] | ||||||||||||
Net proceeds (in Dollars) | $ 8,898 | |||||||||||
Aggregate shares | 3,968,854 | |||||||||||
Common stock, par value (in Dollars per share) | $ 0.001 | |||||||||||
Purchase price per share (in Dollars per share) | $ 2.2785 | |||||||||||
Aggregate shares of common stock | 420,000 | |||||||||||
Purchase price of pre-funded warrants (in Dollars per share) | $ 2,277.5000 | |||||||||||
Purchase of aggregate shares | 2,194,427 | |||||||||||
Gross proceeds (in Dollars) | $ 10,000 | |||||||||||
Pre-funded shares, description | At March 29, 2021, all 420,000 pre-funded shares had been distributed. In connection with the offering, we issued the placement agent warrants to purchase up to 329,164 shares of common stock with an exercise price of $2.8481 per share. |
Stock-Based Compensation (Detai
Stock-Based Compensation (Details) - USD ($) $ / shares in Units, $ in Thousands | Jul. 08, 2021 | Dec. 31, 2021 | Jun. 24, 2021 | Dec. 31, 2020 | Jun. 12, 2018 |
Stock-Based Compensation (Details) [Line Items] | |||||
Stockholders approved, description | On July 8, 2020, our stockholders approved an amendment to the 2018 Plan to increase the number of shares of common stock available for issuance under the 2018 Plan by 800,000 shares from 50,000 to 850,000. | ||||
Common stock previously reserved for issuance (in Shares) | 122,279 | ||||
Common stock available for issuance (in Shares) | 3,000,000 | ||||
Stock options, term | 5 years | ||||
Grant date fair value price | $ 0.97 | ||||
Share price | 0.98 | $ 1.73 | |||
Grant fair value | $ 0.97 | ||||
Equity Incentive Plan 2018 [Member] | |||||
Stock-Based Compensation (Details) [Line Items] | |||||
Common stock available for issuance (in Shares) | 2,838,100 | ||||
Restricted Stock Units [Member] | |||||
Stock-Based Compensation (Details) [Line Items] | |||||
Total compensation cost (in Dollars) | $ 581 |
Stock-Based Compensation (Det_2
Stock-Based Compensation (Details) - Schedule of fair value of options granted | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Schedule of fair value of options granted [Abstract] | ||
Expected volatility | 95.80% | 92.10% |
Expected dividend yield | ||
Expected term (in years) | 3 years 3 days | 3 years 6 months |
Risk-free interest rate | 0.46% | 0.17% |
Stock-Based Compensation (Det_3
Stock-Based Compensation (Details) - Schedule of stock option activity - $ / shares | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | ||
Schedule of stock option activity [Abstract] | |||
Number of Options, Outstanding at Beginning Balance (in Shares) | 496,471 | 136,489 | |
Weighted Average Exercise Price Per Share, Outstanding at Beginning Balance | $ 8.63 | $ 27.85 | |
Weighted Average Remaining Contractual Term (years), Outstanding at Beginning Balance | 3 years 10 months 24 days | 3 years 10 months 24 days | |
Aggregate Intrinsic Value, Outstanding at Beginning Balance | [1] | ||
Number of Options, Granted (in Shares) | 598,649 | 370,397 | |
Weighted Average Exercise Price Per Share, Granted | $ 0.97 | $ 1.37 | |
Weighted Average Remaining Contractual Term (years), Granted | 4 years 7 months 6 days | 4 years 10 months 24 days | |
Aggregate Intrinsic Value, Granted | [1] | ||
Number of Options, Exercised (in Shares) | |||
Weighted Average Exercise Price Per Share, Exercised | |||
Weighted Average Remaining Contractual Term (years),Exercised | |||
Aggregate Intrinsic Value, Exercised | [1] | ||
Number of Options, Forfeited (in Shares) | (3,300) | (10,415) | |
Weighted Average Exercise Price Per Share, Forfeited | |||
Weighted Average Remaining Contractual Term (years), Forfeited | |||
Aggregate Intrinsic Value, Forfeited | [1] | ||
Number of Options, Expired (in Shares) | (4,000) | ||
Weighted Average Exercise Price Per Share, Expired | |||
Weighted Average Remaining Contractual Term (years), Expired | [1] | ||
Aggregate Intrinsic Value, Exercised, Expired | [1] | ||
Number of Options, Outstanding at Ending Balance (in Shares) | 1,087,820 | 496,471 | |
Weighted Average Exercise Price Per Share, Outstanding at Ending Balance | $ 4.08 | $ 8.63 | |
Weighted Average Remaining Contractual Term (years), Outstanding at Ending Balance | 3 years 10 months 24 days | 3 years 10 months 24 days | |
Aggregate Intrinsic Value, Outstanding at Ending Balance | [1] | ||
Number of Options, Exercisable at Ending Balance (in Shares) | 649,153 | ||
Weighted Average Exercise Price Per Share, Exercisable at Ending Balance | $ 5.38 | ||
Weighted Average Remaining Contractual Term (years), Exercisable at Ending Balance | 1 year 9 months 18 days | ||
Aggregate Intrinsic Value, Outstanding, Exercisable at Ending Balance | [1] | ||
[1] | The aggregate intrinsic value on the table was calculated based on the difference between the estimated fair value of our stock and the exercise price of the underlying option. The estimated stock values used in the calculation was $0.98 and $1.73 per share for each of the years ended December 31, 2021 and 2020, respectively. |
Stock-Based Compensation (Det_4
Stock-Based Compensation (Details) - Schedule of summarizes restricted stock unit activity - $ / shares | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | ||
Stock-Based Compensation (Details) - Schedule of summarizes restricted stock unit activity [Line Items] | |||
Weighted Average Grant-Date Fair Value Per Unit, Outstanding beginning (in Dollars per share) | $ 4.13 | $ 30.28 | |
Weighted Average Grant-Date Fair Value Per Unit, Granted (in Dollars per share) | 1.97 | ||
Weighted Average Grant-Date Fair Value Per Unit, Vested (in Dollars per share) | 4.22 | 1.42 | |
Weighted Average Grant-Date Fair Value Per Unit, Forfeited (in Dollars per share) | |||
Weighted Average Grant-Date Fair Value Per Unit, Outstanding ending balance (in Dollars per share) | $ 1.8 | $ 4.13 | |
Restricted Stock [Member] | |||
Stock-Based Compensation (Details) - Schedule of summarizes restricted stock unit activity [Line Items] | |||
Number of Units, Outstanding beginning balance | 5,877 | ||
Number of Units, Granted | 30,738 | [1] | |
Number of Units, Vested | (31,405) | (4,543) | |
Number of Units, Forfeited | |||
Number of Units, Outstanding ending balance | 667 | 32,072 | |
[1] | 30,738 restricted stock units were granted on July 23, 2020 with a weighted average grant date fair value of $1.97. |
Stock-Based Compensation (Det_5
Stock-Based Compensation (Details) - Schedule of stock-based compensation expense - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Stock-Based Compensation (Details) - Schedule of stock-based compensation expense [Line Items] | ||
Total stock-based compensation expense | $ 765 | $ 645 |
Research and Development Expense [Member] | ||
Stock-Based Compensation (Details) - Schedule of stock-based compensation expense [Line Items] | ||
Total stock-based compensation expense | 3 | 9 |
General and Administrative Expense [Member] | ||
Stock-Based Compensation (Details) - Schedule of stock-based compensation expense [Line Items] | ||
Total stock-based compensation expense | $ 762 | $ 636 |
Income Taxes (Details)
Income Taxes (Details) $ in Millions | 12 Months Ended |
Dec. 31, 2021USD ($) | |
Income Tax Disclosure [Abstract] | |
Operating loss carryforwards, federal | $ 77.2 |
Operating loss carryforwards, state | $ 63.7 |
Description for expire of federal loss carryforwards | The federal loss carryforwards begin to expire in 2029 |
Net operating losses that do not expire | $ 32.7 |
Net operating losses | $ 77.2 |
Description of ownership | In general, an ownership change, as defined by Section 382 and 383, results from transactions increasing ownership of certain stockholders or public groups in the stock of the corporation by more than 50 percentage points over a three-year period. |
Description of income tax returns limitations | We file income tax returns in the United States and Arizona with general statutes of limitations of three and four years, respectively. |
Income Taxes (Details) - Schedu
Income Taxes (Details) - Schedule of pretax loss from operations - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Income Taxes (Details) - Schedule of pretax loss from operations [Line Items] | ||
Pretax loss from operations | $ (8,268) | $ (8,373) |
U.S. Domestic [Member] | ||
Income Taxes (Details) - Schedule of pretax loss from operations [Line Items] | ||
Pretax loss from operations | (8,268) | (8,373) |
Foreign [Member] | ||
Income Taxes (Details) - Schedule of pretax loss from operations [Line Items] | ||
Pretax loss from operations |
Income Taxes (Details) - Sche_2
Income Taxes (Details) - Schedule of provision for income taxes from continuing operations - USD ($) | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Current | ||
Federal | ||
State | ||
Foreign | ||
Total current | ||
Deferred | ||
Federal | ||
State | ||
Foreign | ||
Total deferred | ||
Total income tax expense (benefit) |
Income Taxes (Details) - Sche_3
Income Taxes (Details) - Schedule of reconciliation on income taxes - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Schedule of reconciliation on income taxes [Abstract] | ||
Income tax benefit at statutory rates | $ (1,736) | $ (1,758) |
State income tax, net of federal benefit | (329) | (309) |
Permanent items | 1 | |
Stock-based compensation | 118 | 84 |
PPP loan forgiveness | (137) | |
Change in rate | ||
Stock compensation DTA adjustment | ||
Change in valuation allowance | 1,976 | 1,982 |
RTP and other | 109 | |
Income tax expense (benefit) |
Income Taxes (Details) - Sche_4
Income Taxes (Details) - Schedule of deferred tax assets - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Deferred tax assets: | ||
ASC 842 leases | $ 130 | $ 167 |
Federal and state net operating loss carryovers | 19,448 | 17,548 |
Stock-Based Compensation | 333 | 289 |
Compensation accruals and other | 139 | 84 |
Depreciation | 17 | |
Total deferred tax assets | 20,050 | 18,105 |
Valuation allowance for deferred tax assets | (19,916) | (17,940) |
Deferred tax assets, net of valuation allowance | 134 | 165 |
Deferred tax liabilities: | ||
Depreciation | (7) | |
ASC 842 assets | (127) | 165 |
Total deferred tax liabilities | (134) | (165) |
Net deferred tax asset Liability |
Income Taxes (Details) - Sche_5
Income Taxes (Details) - Schedule of unrecognized tax benefits - USD ($) | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Schedule of unrecognized tax benefits [Abstract] | ||
Gross unrecognized tax benefits at the beginning of the year | ||
Increases related to current year positions | ||
Increases related to prior year positions | ||
Decreases related to prior year positions | ||
Expiration of unrecognized tax benefits | ||
Gross unrecognized tax benefits at the end of the year |
Commitments and Contingencies_2
Commitments and Contingencies (Details) $ in Thousands | 1 Months Ended | 12 Months Ended | ||||
Aug. 01, 2020 | Dec. 01, 2019 | Nov. 16, 2016ft² | Dec. 31, 2021USD ($) | Dec. 31, 2020USD ($) | Dec. 31, 2019ft² | |
Commitments and Contingencies (Details) [Line Items] | ||||||
Damage fees | $ 500,000 | |||||
Research equipment | 478 | |||||
Accumulated amortization expenses | 442 | |||||
Area square feet (in Square Feet) | ft² | 7,632 | |||||
Lease commitments extended, description | we entered into a lease for our manufacturing and research facility in Phoenix, Arizona where we occupy approximately 5,105 square feet of manufacturing and warehouse space. This lease expires on November 30, 2024. | we entered into a lease for our corporate headquarters in Phoenix, Arizona where we lease and occupy approximately 5,529 square feet of office space. This lease expires in November 2024. | ||||
Rent expense | $ 222 | $ 286 | ||||
Research and Development Equipment [Member] | ||||||
Commitments and Contingencies (Details) [Line Items] | ||||||
Area square feet (in Square Feet) | ft² | 1,954 | |||||
Lease commitments extended, description | This lease expired on November 15, 2018 but was extended for an additional 24 months, through November 2020. |
Commitments and Contingencies_3
Commitments and Contingencies (Details) - Schedule of future minimum lease payments under non-cancellable operating lease and future minimum capital lease payments $ in Thousands | Dec. 31, 2021USD ($) |
Schedule of future minimum lease payments under non-cancellable operating lease and future minimum capital lease payments [Abstract] | |
2022 Finance leases | $ 28 |
2022 Operating leases | 194 |
2023 Finance leases | |
2023 Operating leases | 198 |
2024 Finance leases | |
2024 Operating leases | 186 |
Total minimum lease payments of Finance leases | 28 |
Total minimum lease payments of Operating leases | 578 |
Less: amounts representing interest (11.43%) | (1) |
Present value of minimum lease payments | 27 |
Less: current installments under finance lease obligations | (27) |
Total long-term portion |
Commitments and Contingencies_4
Commitments and Contingencies (Details) - Schedule of future minimum lease payments under non-cancellable operating lease and future minimum capital lease payments (Parentheticals) | Dec. 31, 2021 |
Schedule of future minimum lease payments under non-cancellable operating lease and future minimum capital lease payments [Abstract] | |
Amounts representing interest | 11.43% |
Related Party Transactions (Det
Related Party Transactions (Details) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Related Party Transactions [Abstract] | ||
Cash payments | $ 50,400 | $ 50,400 |
Subsequent Events (Details)
Subsequent Events (Details) - Subsequent Event [Member] - shares | Mar. 02, 2022 | Mar. 01, 2022 |
Subsequent Events (Details) [Line Items] | ||
Subsequent event, description | we received a letter from the listing qualifications staff (the “Staff”) of The Nasdaq Stock Market (“Nasdaq”) providing notification that the bid price for our common stock had closed below $1.00 per share for the previous 30 consecutive business days and our common stock no longer meets the minimum bid price requirement for continued listing under Nasdaq Listing Rule 5550(a)(2). In accordance with Nasdaq Listing Rule 5810(c)(3)(A), we have an initial period of 180 calendar days, or until August 29, 2022, to regain compliance. To regain compliance, the closing bid price of our common stock must be $1.00 per share or more for a minimum of 10 consecutive business days at any time before August 29, 2022. | |
Shares issued | 5,000 |