2015 Q4 Form 10-K Financial Statement
#000143774917005460 Filed on March 29, 2017
Income Statement
| Concept | 2015 Q4 | 2015 Q3 | 2014 Q4 |
|---|---|---|---|
| Revenue | $1.610M | $2.169M | $1.900M |
| YoY Change | -15.26% | 28.2% | -45.09% |
| Cost Of Revenue | $1.160M | $1.600M | $2.090M |
| YoY Change | -44.5% | 19.92% | -29.63% |
| Gross Profit | $450.0K | $569.1K | -$190.0K |
| YoY Change | -336.84% | 59.1% | -138.78% |
| Gross Profit Margin | 27.95% | 26.24% | -10.0% |
| Selling, General & Admin | $2.690M | $3.572M | $4.120M |
| YoY Change | -34.71% | -7.15% | 17.38% |
| % of Gross Profit | 597.78% | 627.6% | |
| Research & Development | $700.0K | $515.2K | $80.00K |
| YoY Change | 775.0% | -48.89% | -88.41% |
| % of Gross Profit | 155.56% | 90.52% | |
| Depreciation & Amortization | $210.0K | $180.0K | $130.0K |
| YoY Change | 61.54% | 350.0% | -38.1% |
| % of Gross Profit | 46.67% | 31.63% | |
| Operating Expenses | $3.390M | $27.83M | $4.230M |
| YoY Change | -19.86% | 473.18% | -1.86% |
| Operating Profit | -$2.940M | -$27.26M | -$4.420M |
| YoY Change | -33.48% | 506.12% | 15.71% |
| Interest Expense | $1.570M | -$967.0K | $7.410M |
| YoY Change | -78.81% | 18.15% | -786.11% |
| % of Operating Profit | |||
| Other Income/Expense, Net | -$37.63M | $13.43M | $0.00 |
| YoY Change | -4836.07% | ||
| Pretax Income | -$42.32M | -$13.82M | $2.860M |
| YoY Change | -1579.72% | 189.15% | -158.49% |
| Income Tax | -$100.0K | $4.921K | $10.00K |
| % Of Pretax Income | 0.35% | ||
| Net Earnings | -$42.22M | -$13.83M | $2.860M |
| YoY Change | -1576.22% | 188.97% | -158.37% |
| Net Earnings / Revenue | -2622.36% | -637.51% | 150.53% |
| Basic Earnings Per Share | |||
| Diluted Earnings Per Share | -$0.34 | -$0.11 | $0.02 |
| COMMON SHARES | |||
| Basic Shares Outstanding | 125.7M shares | 124.4M shares | |
| Diluted Shares Outstanding |
Balance Sheet
| Concept | 2015 Q4 | 2015 Q3 | 2014 Q4 |
|---|---|---|---|
| SHORT-TERM ASSETS | |||
| Cash & Short-Term Investments | $920.0K | $4.050M | $15.95M |
| YoY Change | -94.23% | -79.79% | 384.8% |
| Cash & Equivalents | $922.3K | $4.054M | $15.95M |
| Short-Term Investments | |||
| Other Short-Term Assets | $850.0K | $5.450M | $0.00 |
| YoY Change | 62.2% | -100.0% | |
| Inventory | $254.4K | $603.8K | $556.6K |
| Prepaid Expenses | |||
| Receivables | $1.010M | $2.230M | $609.2K |
| Other Receivables | $0.00 | $0.00 | $1.310M |
| Total Short-Term Assets | $3.049M | $12.34M | $21.88M |
| YoY Change | -86.06% | -52.04% | 119.79% |
| LONG-TERM ASSETS | |||
| Property, Plant & Equipment | $1.115M | $865.1K | $925.2K |
| YoY Change | 20.54% | 14.24% | 0.62% |
| Goodwill | $0.00 | $0.00 | |
| YoY Change | -100.0% | ||
| Intangibles | $2.513M | $5.904M | $28.75M |
| YoY Change | -91.26% | -14.87% | |
| Long-Term Investments | |||
| YoY Change | |||
| Other Assets | $396.2K | $43.80K | $4.020M |
| YoY Change | -90.14% | -98.85% | 737.56% |
| Total Long-Term Assets | $4.025M | $6.813M | $34.35M |
| YoY Change | -88.28% | -80.27% | -5.37% |
| TOTAL ASSETS | |||
| Total Short-Term Assets | $3.049M | $12.34M | $21.88M |
| Total Long-Term Assets | $4.025M | $6.813M | $34.35M |
| Total Assets | $7.074M | $19.15M | $56.22M |
| YoY Change | -87.42% | -68.22% | 21.56% |
| SHORT-TERM LIABILITIES | |||
| YoY Change | |||
| Accounts Payable | $1.067M | $2.510M | $1.878M |
| YoY Change | -43.19% | 49.99% | -43.98% |
| Accrued Expenses | $2.453M | $5.512M | $5.193M |
| YoY Change | -52.75% | 12.77% | 11.27% |
| Deferred Revenue | |||
| YoY Change | |||
| Short-Term Debt | $0.00 | $0.00 | $0.00 |
| YoY Change | |||
| Long-Term Debt Due | $35.00M | $710.0K | $0.00 |
| YoY Change | -100.0% | ||
| Total Short-Term Liabilities | $42.19M | $11.91M | $8.498M |
| YoY Change | 396.42% | 71.11% | -19.52% |
| LONG-TERM LIABILITIES | |||
| Long-Term Debt | $0.00 | $0.00 | $330.0K |
| YoY Change | -100.0% | -100.0% | -91.36% |
| Other Long-Term Liabilities | $307.1K | $472.0K | $546.9K |
| YoY Change | -43.85% | -53.95% | 49.04% |
| Total Long-Term Liabilities | $944.2K | $472.0K | $546.9K |
| YoY Change | 72.65% | -53.95% | 49.04% |
| TOTAL LIABILITIES | |||
| Total Short-Term Liabilities | $42.19M | $11.91M | $8.498M |
| Total Long-Term Liabilities | $944.2K | $472.0K | $546.9K |
| Total Liabilities | $43.13M | $13.12M | $40.26M |
| YoY Change | 7.14% | -72.37% | 107.08% |
| SHAREHOLDERS EQUITY | |||
| Retained Earnings | -$162.9M | -$120.7M | -$110.1M |
| YoY Change | 47.96% | 6.85% | 20.7% |
| Common Stock | $0.00 | $12.48K | $12.48K |
| YoY Change | -100.0% | 1.03% | 17.42% |
| Preferred Stock | |||
| YoY Change | |||
| Treasury Stock (at cost) | |||
| YoY Change | |||
| Treasury Stock Shares | |||
| Shareholders Equity | -$36.56M | $5.533M | $15.47M |
| YoY Change | |||
| Total Liabilities & Shareholders Equity | $7.074M | $19.15M | $56.22M |
| YoY Change | -87.42% | -68.22% | 21.56% |
Cashflow Statement
| Concept | 2015 Q4 | 2015 Q3 | 2014 Q4 |
|---|---|---|---|
| OPERATING ACTIVITIES | |||
| Net Income | -$42.22M | -$13.83M | $2.860M |
| YoY Change | -1576.22% | 188.97% | -158.37% |
| Depreciation, Depletion And Amortization | $210.0K | $180.0K | $130.0K |
| YoY Change | 61.54% | 350.0% | -38.1% |
| Cash From Operating Activities | -$2.740M | -$2.730M | -$3.810M |
| YoY Change | -28.08% | -43.48% | 15.11% |
| INVESTING ACTIVITIES | |||
| Capital Expenditures | -$430.0K | -$100.0K | -$270.0K |
| YoY Change | 59.26% | -23.08% | 80.0% |
| Acquisitions | |||
| YoY Change | |||
| Other Investing Activities | $40.00K | $0.00 | $0.00 |
| YoY Change | -100.0% | ||
| Cash From Investing Activities | -$390.0K | -$100.0K | -$270.0K |
| YoY Change | 44.44% | 150.0% | 80.0% |
| FINANCING ACTIVITIES | |||
| Cash Dividend Paid | |||
| YoY Change | |||
| Common Stock Issuance & Retirement, Net | |||
| YoY Change | |||
| Debt Paid & Issued, Net | |||
| YoY Change | |||
| Cash From Financing Activities | 0.000 | 0.000 | 0.000 |
| YoY Change | -100.0% | -100.0% | |
| NET CHANGE | |||
| Cash From Operating Activities | -2.740M | -2.730M | -3.810M |
| Cash From Investing Activities | -390.0K | -100.0K | -270.0K |
| Cash From Financing Activities | 0.000 | 0.000 | 0.000 |
| Net Change In Cash | -3.130M | -2.830M | -4.080M |
| YoY Change | -23.28% | -42.83% | 200.0% |
| FREE CASH FLOW | |||
| Cash From Operating Activities | -$2.740M | -$2.730M | -$3.810M |
| Capital Expenditures | -$430.0K | -$100.0K | -$270.0K |
| Free Cash Flow | -$2.310M | -$2.630M | -$3.540M |
| YoY Change | -34.75% | -44.04% | 12.03% |
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Concentration Risk Credit Risk
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|
<div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;"><div style="display: inline; text-decoration: underline;">Credit Concentration</div></div> <div style=" margin: 0pt; text-align: justify; font-family: Times New Roman, Times, serif; font-size: 10pt;">We generate accounts receivable from th<div style="display: inline; font-family: Times New Roman, Times, serif; font-size: 10pt;">e sale of our products. Specific customer receivables balances in excess of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">10%</div> of total receivables at <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">31,</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div> and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">31,</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2015</div> were as follows:</div></div> <div style=" margin: 0pt; text-align: justify; font-family: Times New Roman, Times, serif; font-size: 10pt;"> </div> <div> <table border="0" cellpadding="0" cellspacing="0" style="; text-indent: 0px; font-family: Times New Roman,Times,serif; font-size: 10pt; margin-right: 10%; margin-left: 10%;"> <tr style="vertical-align: bottom;"> <td style="font-family: Times New Roman,Times,serif; font-size: 10pt;"> </td> <td style="font-family: Times New Roman,Times,serif; font-size: 10pt;"> </td> <td colspan="2" style="text-align: center; font-family: Times New Roman,Times,serif; font-size: 10pt; margin-left: 0pt; border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1px; border-bottom-style: solid;"> <div style=" margin: 0pt; text-align: center; font-family: Times New Roman, Times, serif; font-size: 10pt;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Successor</div></div></div> </td> <td style="padding-bottom: 1px; font-family: Times New Roman,Times,serif; font-size: 10pt;"> </td> <td style="font-family: Times New Roman,Times,serif; font-size: 10pt;"> </td> <td colspan="2" style="text-align: center; font-family: Times New Roman,Times,serif; font-size: 10pt; margin-left: 0pt; border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1px; border-bottom-style: solid;"> <div style=" margin: 0pt; text-align: center; font-family: Times New Roman, Times, serif; font-size: 10pt;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Predecessor</div></div></div> </td> <td style="padding-bottom: 1px; font-family: Times New Roman,Times,serif; font-size: 10pt;"> </td> </tr> <tr style="vertical-align: bottom;"> <td style="font-family: Times New Roman,Times,serif; font-size: 10pt;"> </td> <td style="font-family: Times New Roman,Times,serif; font-size: 10pt;"> </td> <td colspan="2" style="text-align: center; font-family: Times New Roman,Times,serif; font-size: 10pt; margin-left: 0pt; border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1px; border-bottom-style: solid;"> <div style=" margin: 0pt; text-align: center; font-family: Times New Roman, Times, serif; font-size: 10pt;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">December 31, 2016</div></div></div> </td> <td style="padding-bottom: 1px; font-family: Times New Roman,Times,serif; font-size: 10pt;"> </td> <td style="font-family: Times New Roman,Times,serif; font-size: 10pt;"> </td> <td colspan="2" style="text-align: center; font-family: Times New Roman,Times,serif; font-size: 10pt; margin-left: 0pt; border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1px; border-bottom-style: solid;"> <div style=" margin: 0pt; text-align: center; font-family: Times New Roman, Times, serif; font-size: 10pt;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">December 31, 2015</div></div></div> </td> <td style="padding-bottom: 1px; font-family: Times New Roman,Times,serif; font-size: 10pt;"> </td> </tr> <tr style="vertical-align: bottom;"> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="width: 62%; font-family: Times New Roman,Times,serif; font-size: 10pt;"> <div style=" font-family: Times New Roman,Times,serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Customer A</div> </td> <td style="width: 1%; font-family: Times New Roman,Times,serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: Times New Roman,Times,serif; font-size: 10pt;"> </td> <td style="width: 16%; text-align: right; font-family: Times New Roman,Times,serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">58</div></td> <td nowrap="nowrap" style="width: 1%; font-family: Times New Roman,Times,serif; font-size: 10pt; margin-left: 0pt;"> <div style=" margin: 0pt; text-align: left; font-family: Times New Roman,Times,serif; font-size: 10pt;">%</div> </td> <td style="width: 1%; font-family: Times New Roman,Times,serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: Times New Roman,Times,serif; font-size: 10pt;"> </td> <td style="width: 16%; text-align: right; font-family: Times New Roman,Times,serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">47</div></td> <td nowrap="nowrap" style="width: 1%; font-family: Times New Roman,Times,serif; font-size: 10pt; margin-left: 0pt;"> <div style=" margin: 0pt; text-align: left; font-family: Times New Roman,Times,serif; font-size: 10pt;">%</div> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="font-family: Times New Roman,Times,serif; font-size: 10pt;"> <div style=" font-family: Times New Roman,Times,serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Customer B</div> </td> <td style="width: 1%; font-family: Times New Roman,Times,serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: Times New Roman,Times,serif; font-size: 10pt;"> </td> <td style="width: 16%; text-align: right; font-family: Times New Roman,Times,serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">10</div></td> <td nowrap="nowrap" style="width: 1%; font-family: Times New Roman,Times,serif; font-size: 10pt; margin-left: 0pt;"> <div style=" margin: 0pt; text-align: left; font-family: Times New Roman,Times,serif; font-size: 10pt;">%</div> </td> <td style="width: 1%; font-family: Times New Roman,Times,serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: Times New Roman,Times,serif; font-size: 10pt;"> </td> <td style="width: 16%; text-align: right; font-family: Times New Roman,Times,serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">21</div></td> <td nowrap="nowrap" style="width: 1%; font-family: Times New Roman,Times,serif; font-size: 10pt; margin-left: 0pt;"> <div style=" margin: 0pt; text-align: left; font-family: Times New Roman,Times,serif; font-size: 10pt;">%</div> </td> </tr> </table> </div> <div style=" margin: 0pt; text-align: justify; font-family: Times New Roman, Times, serif; font-size: 10pt;"> </div> <div style=" margin: 0pt; text-align: justify; font-family: Times New Roman, Times, serif; font-size: 10pt;">Revenue from significant customers exceeding <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">10%</div> of total revenues for the periods presented was as follows:</div> <div style=" margin: 0pt; text-align: justify; font-family: Times New Roman, Times, serif; font-size: 10pt;"> </div> <div> <table border="0" cellpadding="0" cellspacing="0" style="; text-indent: 0px; font-family: Times New Roman,Times,serif; font-size: 10pt; margin-right: 5%; margin-left: 5%;"> <tr style="vertical-align: bottom;"> <td style="font-family: Times New Roman,Times,serif; font-size: 10pt;"> </td> <td style="font-family: Times New Roman,Times,serif; font-size: 10pt;"> </td> <td colspan="2" style="text-align: center; font-family: Times New Roman,Times,serif; font-size: 10pt; margin-left: 0pt; border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1px; border-bottom-style: solid;"> <div style=" margin: 0pt; text-align: center; font-family: Times New Roman, Times, serif; font-size: 10pt;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Period from May 5, 2016 through December 31, 2016</div></div></div> </td> <td style="padding-bottom: 1px; font-family: Times New Roman,Times,serif; font-size: 10pt;"> </td> <td style="font-family: Times New Roman,Times,serif; font-size: 10pt;"> </td> <td colspan="2" style="text-align: center; font-family: Times New Roman,Times,serif; font-size: 10pt; margin-left: 0pt; border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1px; border-bottom-style: solid;"> <div style=" margin: 0pt; text-align: center; font-family: Times New Roman, Times, serif; font-size: 10pt;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Period from January 1, 2016 through May 4, 2016</div></div></div> </td> <td style="padding-bottom: 1px; font-family: Times New Roman,Times,serif; font-size: 10pt;"> </td> <td style="font-family: Times New Roman,Times,serif; font-size: 10pt;"> </td> <td colspan="2" style="text-align: center; font-family: Times New Roman,Times,serif; font-size: 10pt; margin-left: 0pt; border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1px; border-bottom-style: solid;"> <div style=" margin: 0pt; text-align: center; font-family: Times New Roman, Times, serif; font-size: 10pt;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Year ended December 31, 2015</div></div></div> </td> <td style="padding-bottom: 1px; font-family: Times New Roman,Times,serif; font-size: 10pt;"> </td> </tr> <tr style="vertical-align: bottom;"> <td style="font-family: Times New Roman,Times,serif; font-size: 10pt;"> </td> <td style="font-family: Times New Roman,Times,serif; font-size: 10pt;"> </td> <td colspan="2" style="text-align: center; font-family: Times New Roman,Times,serif; font-size: 10pt; margin-left: 0pt; border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1px; border-bottom-style: solid;"> <div style=" margin: 0pt; text-align: center; font-family: Times New Roman, Times, serif; font-size: 10pt;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Successor</div></div></div> </td> <td style="padding-bottom: 1px; font-family: Times New Roman,Times,serif; font-size: 10pt;"> </td> <td style="font-family: Times New Roman,Times,serif; font-size: 10pt;"> </td> <td colspan="2" style="text-align: center; font-family: Times New Roman,Times,serif; font-size: 10pt; margin-left: 0pt; border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1px; border-bottom-style: solid;"> <div style=" margin: 0pt; text-align: center; font-family: Times New Roman, Times, serif; font-size: 10pt;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Predecessor</div></div></div> </td> <td style="padding-bottom: 1px; font-family: Times New Roman,Times,serif; font-size: 10pt;"> </td> <td style="font-family: Times New Roman,Times,serif; font-size: 10pt;"> </td> <td colspan="2" style="text-align: center; font-family: Times New Roman,Times,serif; font-size: 10pt; margin-left: 0pt; border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1px; border-bottom-style: solid;"> <div style=" margin: 0pt; text-align: center; font-family: Times New Roman, Times, serif; font-size: 10pt;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Predecessor</div></div></div> </td> <td style="padding-bottom: 1px; font-family: Times New Roman,Times,serif; font-size: 10pt;"> </td> </tr> <tr style="vertical-align: bottom;"> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="width: 49%; font-family: Times New Roman,Times,serif; font-size: 10pt;"> <div style=" font-family: Times New Roman,Times,serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Customer B</div> </td> <td style="width: 1%; font-family: Times New Roman,Times,serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: Times New Roman,Times,serif; font-size: 10pt; margin-left: 0pt;">$</td> <td style="width: 14%; text-align: right; font-family: Times New Roman,Times,serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td nowrap="nowrap" style="width: 1%; font-family: Times New Roman,Times,serif; font-size: 10pt; margin-left: 0pt;"> </td> <td style="width: 1%; font-family: Times New Roman,Times,serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: Times New Roman,Times,serif; font-size: 10pt; margin-left: 0pt;">$</td> <td style="width: 14%; text-align: right; font-family: Times New Roman,Times,serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">78%</div></td> <td nowrap="nowrap" style="width: 1%; font-family: Times New Roman,Times,serif; font-size: 10pt; margin-left: 0pt;"> </td> <td style="width: 1%; font-family: Times New Roman,Times,serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: Times New Roman,Times,serif; font-size: 10pt; margin-left: 0pt;">$</td> <td style="width: 14%; text-align: right; font-family: Times New Roman,Times,serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">67%</div></td> <td nowrap="nowrap" style="width: 1%; font-family: Times New Roman,Times,serif; font-size: 10pt; margin-left: 0pt;"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="font-family: Times New Roman,Times,serif; font-size: 10pt;"> <div style=" font-family: Times New Roman,Times,serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Customer C</div> </td> <td style="width: 1%; font-family: Times New Roman,Times,serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: Times New Roman,Times,serif; font-size: 10pt;"> </td> <td style="width: 14%; text-align: right; font-family: Times New Roman,Times,serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td nowrap="nowrap" style="width: 1%; font-family: Times New Roman,Times,serif; font-size: 10pt; margin-left: 0pt;"> </td> <td style="width: 1%; font-family: Times New Roman,Times,serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: Times New Roman,Times,serif; font-size: 10pt;"> </td> <td style="width: 14%; text-align: right; font-family: Times New Roman,Times,serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td nowrap="nowrap" style="width: 1%; font-family: Times New Roman,Times,serif; font-size: 10pt; margin-left: 0pt;"> </td> <td style="width: 1%; font-family: Times New Roman,Times,serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: Times New Roman,Times,serif; font-size: 10pt;"> </td> <td style="width: 14%; text-align: right; font-family: Times New Roman,Times,serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">26%</div></td> <td nowrap="nowrap" style="width: 1%; font-family: Times New Roman,Times,serif; font-size: 10pt; margin-left: 0pt;"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: Times New Roman,Times,serif; font-size: 10pt;"> <div style=" font-family: Times New Roman,Times,serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Customer D</div> </td> <td style="width: 1%; font-family: Times New Roman,Times,serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: Times New Roman,Times,serif; font-size: 10pt;"> </td> <td style="width: 14%; text-align: right; font-family: Times New Roman,Times,serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">22%</div></td> <td nowrap="nowrap" style="width: 1%; font-family: Times New Roman,Times,serif; font-size: 10pt; margin-left: 0pt;"> </td> <td style="width: 1%; font-family: Times New Roman,Times,serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: Times New Roman,Times,serif; font-size: 10pt;"> </td> <td style="width: 14%; text-align: right; font-family: Times New Roman,Times,serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td nowrap="nowrap" style="width: 1%; font-family: Times New Roman,Times,serif; font-size: 10pt; margin-left: 0pt;"> </td> <td style="width: 1%; font-family: Times New Roman,Times,serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: Times New Roman,Times,serif; font-size: 10pt;"> </td> <td style="width: 14%; text-align: right; font-family: Times New Roman,Times,serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td nowrap="nowrap" style="width: 1%; font-family: Times New Roman,Times,serif; font-size: 10pt; margin-left: 0pt;"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="font-family: Times New Roman,Times,serif; font-size: 10pt;"> <div style=" font-family: Times New Roman,Times,serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Customer E</div> </td> <td style="width: 1%; font-family: Times New Roman,Times,serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: Times New Roman,Times,serif; font-size: 10pt;"> </td> <td style="width: 14%; text-align: right; font-family: Times New Roman,Times,serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">16%</div></td> <td nowrap="nowrap" style="width: 1%; font-family: Times New Roman,Times,serif; font-size: 10pt; margin-left: 0pt;"> </td> <td style="width: 1%; font-family: Times New Roman,Times,serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: Times New Roman,Times,serif; font-size: 10pt;"> </td> <td style="width: 14%; text-align: right; font-family: Times New Roman,Times,serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td nowrap="nowrap" style="width: 1%; font-family: Times New Roman,Times,serif; font-size: 10pt; margin-left: 0pt;"> </td> <td style="width: 1%; font-family: Times New Roman,Times,serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: Times New Roman,Times,serif; font-size: 10pt;"> </td> <td style="width: 14%; text-align: right; font-family: Times New Roman,Times,serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td nowrap="nowrap" style="width: 1%; font-family: Times New Roman,Times,serif; font-size: 10pt; margin-left: 0pt;"> </td> </tr> </table> </div> <div style=" margin: 0pt; text-align: justify; font-family: Times New Roman, Times, serif; font-size: 10pt;"> <div style="display: inline; font-family: Times New Roman, Times, serif; font-size: 10pt;"> </div></div> <div style=" margin: 0pt; text-align: justify; font-family: Times New Roman, Times, serif; font-size: 10pt;">Historically, we used single suppliers for several components of the Aurix™<div style="display: inline; font-family: Times New Roman, Times, serif; font-size: 10pt;"> product line. We outsource the manufacturing of various products to contract manufacturers. While we believe these manufacturers demonstrate competency, reliability and stability, there is no assurance that <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">one</div> or more of them will not experience an interruption or inability to provide us with the products needed to satisfy customer demand. Additionally, while most of the components of Aurix™ are generally readily available on the open market, a reagent, bovine thrombin, is available exclusively through Pfizer, with whom we have an established vendor relationship.</div></div></div></div></div></div> | |
| CY2016Q4 | us-gaap |
Convertible Debt Current
ConvertibleDebtCurrent
|
||
| CY2015Q4 | us-gaap |
Convertible Debt Fair Value Disclosures
ConvertibleDebtFairValueDisclosures
|
25400000 | |
| us-gaap |
Cost Of Goods Sold
CostOfGoodsSold
|
729050 | ||
| us-gaap |
Cost Of Revenue
CostOfRevenue
|
729050 | ||
| us-gaap |
Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
|
0 | ||
| us-gaap |
Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
|
0 | ||
| CY2016Q4 | us-gaap |
Customer Deposits Current
CustomerDepositsCurrent
|
72192 | |
| CY2015Q4 | us-gaap |
Customer Deposits Current
CustomerDepositsCurrent
|
611341 | |
| CY2016Q4 | us-gaap |
Debt Instrument Periodic Payment
DebtInstrumentPeriodicPayment
|
33333 | |
| CY2014Q4 | us-gaap |
Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
|
34800000 | |
| CY2016Q4 | us-gaap |
Debt Longterm And Shortterm Combined Amount
DebtLongtermAndShorttermCombinedAmount
|
0 | |
| us-gaap |
Debtor Reorganization Items Legal And Advisory Professional Fees
DebtorReorganizationItemsLegalAndAdvisoryProfessionalFees
|
324551 | ||
| us-gaap |
Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
|
-1989763 | ||
| us-gaap |
Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
|
|||
| CY2016Q4 | us-gaap |
Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
|
2374950 | |
| CY2016Q2 | us-gaap |
Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
|
114000 | |
| CY2016Q4 | us-gaap |
Deferred Revenue Current
DeferredRevenueCurrent
|
||
| CY2016Q4 | us-gaap |
Deferred Revenue Noncurrent
DeferredRevenueNoncurrent
|
||
| us-gaap |
Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
|
-236490 | ||
| CY2016Q4 | us-gaap |
Deferred Tax Assets Deferred Income
DeferredTaxAssetsDeferredIncome
|
||
| CY2016Q2 | us-gaap |
Deferred Tax Assets Deferred Income
DeferredTaxAssetsDeferredIncome
|
462000 | |
| CY2016Q4 | us-gaap |
Deferred Tax Assets Goodwill And Intangible Assets
DeferredTaxAssetsGoodwillAndIntangibleAssets
|
354831 | |
| CY2016Q2 | us-gaap |
Deferred Tax Assets Goodwill And Intangible Assets
DeferredTaxAssetsGoodwillAndIntangibleAssets
|
404000 | |
| CY2016Q4 | us-gaap |
Deferred Tax Assets Gross
DeferredTaxAssetsGross
|
4528326 | |
| CY2016Q2 | us-gaap |
Deferred Tax Assets Gross
DeferredTaxAssetsGross
|
11208000 | |
| CY2016Q4 | us-gaap |
Deferred Tax Assets Gross Noncurrent
DeferredTaxAssetsGrossNoncurrent
|
52866903 | |
| CY2016Q2 | us-gaap |
Deferred Tax Assets Gross Noncurrent
DeferredTaxAssetsGrossNoncurrent
|
72170000 | |
| CY2016Q4 | us-gaap |
Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
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50713527 | |
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Deferred Tax Assets Operating Loss Carryforwards
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61076000 | |
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224910 | |
| CY2016Q2 | us-gaap |
Deferred Tax Assets Other
DeferredTaxAssetsOther
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283000 | |
| CY2016Q4 | us-gaap |
Deferred Tax Assets Property Plant And Equipment
DeferredTaxAssetsPropertyPlantAndEquipment
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163755 | |
| CY2016Q2 | us-gaap |
Deferred Tax Assets Property Plant And Equipment
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207000 | |
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29379 | |
| CY2016Q2 | us-gaap |
Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Employee Benefits
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6238000 | |
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52866903 | |
| CY2016Q2 | us-gaap |
Deferred Tax Assets Valuation Allowance
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72170000 | |
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249000 | ||
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280000 | ||
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Depreciation And Amortization
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433000 | |
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836192 | ||
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Deferred Tax Liabilities
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2374950 | |
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114000 | |
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Dilutive Securities
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0 | ||
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-0.58 | ||
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-0.58 | ||
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Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
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| CY2015 | us-gaap |
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0.002 | |
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Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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0.35 | ||
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Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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0.35 | ||
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0.35 | |
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Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
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-0.001 | ||
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Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
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0.037 | ||
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Effective Income Tax Rate Reconciliation Other Adjustments
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-0.004 | |
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Effective Income Tax Rate Reconciliation State And Local Income Taxes
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0.042 | ||
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0.042 | ||
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0.048 | |
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0.29 | |
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556592 | |
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3580000 | |
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852000 | |
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852000 | |
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852000 | |
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852000 | |
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852000 | |
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|
8397000 | |
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17887966 | |
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8397000 | |
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17528784 | |
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|
7052500 | |
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|
750 | |
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7052500 | |
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|
2079284 | |
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Fresh Start Adjustment Increase Decrease Goodwill
FreshStartAdjustmentIncreaseDecreaseGoodwill
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2079284 | |
| CY2016Q2 | us-gaap |
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17528784 | |
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|
3 | |
| CY2016Q2 | us-gaap |
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-359935 | |
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17528784 | |
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Gain Loss On Disposition Of Assets1
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General And Administrative Expense
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3292348 | ||
| CY2016Q2 | us-gaap |
Goodwill
Goodwill
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2100000 | |
| CY2015Q3 | us-gaap |
Goodwill
Goodwill
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0 | |
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0 | |
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-5695627 | ||
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Income Tax Expense Benefit
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2079284 | |
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Goodwill And Intangible Asset Impairment
GoodwillAndIntangibleAssetImpairment
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Goodwill
Goodwill
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Goodwill
Goodwill
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Goodwill Impairment Loss
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0 | |
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Goodwill Impairment Loss
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1100000 | |
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Goodwill Impairment Loss
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21573 | ||
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-261103 | ||
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40 | ||
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Incremental Common Shares Attributable To Conversion Of Debt Securities
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0 | ||
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8400000 | |
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7840408 | |
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Interest Income Expense Nonoperating Net
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-2219 | ||
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3629 | ||
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18123 | |
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115792 | |
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69954 | |
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59798 | |
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8397000 | |
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196500 | |
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Inventory Valuation Reserves
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8000 | |
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Inventory Valuation Reserves
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58000 | |
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Inventory Write Down
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7967 | ||
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Liabilities
Liabilities
|
1570726 | |
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14056753 | |
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Liabilities Current
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1447292 | |
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Liability For Uncertain Tax Positions Current
LiabilityForUncertainTaxPositionsCurrent
|
0 | |
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License And Maintenance Revenue
LicenseAndMaintenanceRevenue
|
140000 | ||
| CY2015 | us-gaap |
License And Maintenance Revenue
LicenseAndMaintenanceRevenue
|
400000 | |
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License And Services Revenue
LicenseAndServicesRevenue
|
3000000 | |
| us-gaap |
License Costs
LicenseCosts
|
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| us-gaap |
Licenses Revenue
LicensesRevenue
|
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| CY2016 | us-gaap |
Nature Of Operations
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|
<div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;"><div style="display: inline; font-weight: bold;">Note <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1</div> <div style="display: inline; font-family: Times New Roman, Times, serif; font-size: 10pt;">– Description of Business and Bankruptcy Proceedings</div></div></div> <div style=" margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;"> </div> <div style=" margin: 0pt 36pt 0pt 0pt; text-align: justify; font-family: Times New Roman, Times, serif; font-size: 10pt;"><div style="display: inline; text-decoration: underline;">Description of Business</div></div> <div style=" margin: 0pt; text-align: justify; font-family: Times New Roman, Times, serif; font-size: 10pt;">Nuo Therapeutics, Inc. (“<div style="display: inline; font-family: Times New Roman, Times, serif; font-size: 10pt;">Nuo Therapeutics,” the “Company,” “we,” “us,” or “our”) is a biomedical company marketing its product primarily within the U.S. We commercialize innovative cell-based technologies that harness the regenerative capacity of the human body to trigger natural healing. The use of autologous (from self) biological therapies for tissue repair and regeneration is part of a transformative clinical strategy designed to improve long term recovery in complex chronic conditions with significant unmet medical needs. </div><div style="display: inline; font-family: Times New Roman, Times, serif; font-size: 10pt;">Growth opportunities for the Aurix System in the United States in the near to intermediate term include the treatment of chronic wounds with Aurix in: (i) the Medicare population under a National Coverage Determination (“NCD”), when registry data is collected under the Coverage with Evidence Development (“CED”) program of the Centers for Medicare & Medicaid Services (“CMS”); and (ii) the Veterans Affairs (“VA”) healthcare system and other federal accounts settings. </div></div> <div style=" margin: 0pt; text-align: justify; font-family: Times New Roman, Times, serif; font-size: 10pt;"> </div> <div style=" margin: 0pt; text-align: justify; font-family: Times New Roman, Times, serif; font-size: 10pt;">As of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">31,</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016,</div> our commercial offering consists solely of <div style="display: inline; font-family: Times New Roman, Times, serif; font-size: 10pt;">the Aurix point of care technology for the safe and efficient separation of autologous blood to produce a platelet based therapy for the chronic wound care market. Prior to the Effective Date (as defined below), we had <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">two</div> distinct platelet rich plasma (“PRP”) devices: the Aurix System for wound care, and the Angel® concentrated Platelet Rich Plasma (“cPRP”) System for orthopedics markets. Prior to the Effective Date, Arthrex, Inc. (“Arthrex”) was our exclusive distributor for Angel. Pursuant to the Plan of Reorganization (as defined below), on <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> May</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5,</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016,</div> the Company assigned its rights, title and interest in and to its existing license agreement with Arthrex to the Deerfield Lenders (as defined below), as well as rights to collect royalty payments thereunder.</div></div> <div style=" margin: 0pt; text-align: justify; font-family: Times New Roman, Times, serif; font-size: 10pt;"> </div> <div style=" margin: 0pt; text-align: justify; font-family: Times New Roman, Times, serif; font-size: 10pt;"><div style="display: inline; text-decoration: underline;">Bankruptcy Proceedings</div></div> <div style=" margin: 0pt; text-align: justify; font-family: Times New Roman, Times, serif; font-size: 10pt;">On <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> January</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">26,</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016,</div> the Company file<div style="display: inline; font-family: Times New Roman, Times, serif; font-size: 10pt;">d a voluntary petition in the United States Bankruptcy Court for the District of Delaware (the “Bankruptcy Court”) seeking relief under Chapter <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">11</div> of Title <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">11</div> of the United States Code (the “Bankruptcy Code”), which is administered under the caption “In re: Nuo Therapeutics, Inc.”, Case No. <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">16</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">10192</div> (MFW) (the “Chapter <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">11</div> Case”).</div></div> <div style=" margin: 0pt; text-align: justify; font-family: Times New Roman, Times, serif; font-size: 10pt;"> </div> <div style=" margin: 0pt; text-align: justify; font-family: Times New Roman, Times, serif; font-size: 10pt;">On <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> April</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">25,</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div> (the “<div style="display: inline; font-family: Times New Roman, Times, serif; font-size: 10pt;">Confirmation Date”), the Bankruptcy Court entered an Order Granting Final Approval of Disclosure Statement and Confirming Debtor’s Plan of Reorganization (the “Confirmation Order”), which confirmed the Modified First Amended Plan of Reorganization of the Debtor under Chapter <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">11</div> of the Bankruptcy Code (as confirmed, the “Plan,” or “Plan of Reorganization”).</div></div> <div style=" margin: 0pt; text-align: justify; font-family: Times New Roman, Times, serif; font-size: 10pt;"> </div> <div style=" margin: 0pt; text-align: justify; font-family: Times New Roman, Times, serif; font-size: 10pt;">Scenario A contemplated by the Plan of Reorganiza<div style="display: inline; font-family: Times New Roman, Times, serif; font-size: 10pt;">tion became effective on <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> May</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5,</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div> (the “Effective Date”). Pursuant to the Plan, as of the Effective Date: (i) all equity interests of the Company, including but not limited to all shares of the Company’s common stock, <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$0.0001</div> par value per share (including its redeemable common stock) (the “Old Common Stock”), warrants, and options that were issuable or issued and outstanding immediately prior to the Effective Date, were cancelled; (ii) the Company’s certificate of incorporation that was in effect immediately prior to the Effective Date was amended and restated in its entirety; (iii) the Company’s by-laws that were in effect immediately prior to the Effective Date were amended and restated in their entirety; and (iv) the Company issued New Common Stock, Warrants and Series A Preferred Stock (all as defined below).</div></div> <div style=" margin: 0pt; text-align: justify; font-family: Times New Roman, Times, serif; font-size: 10pt;"> </div> <div style=" margin: 0pt; text-align: justify; font-family: Times New Roman, Times, serif; font-size: 10pt;">Upon emergence from bankruptcy on the Effective Date, the Company applied fresh start accounting, resulting in the Company becoming a new entity for financial reporting purposes (see Note <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2</div> <div style="display: inline; font-family: Times New Roman, Times, serif; font-size: 10pt;">– <div style="display: inline; font-style: italic;">Fresh Start Accounting</div>). As a result of the application of fresh start accounting, the Company reflected the disposition of its pre-petition debt and changes in its equity structure effected under the Confirmation Order in its balance sheet as of the Effective Date. Accordingly, all financial statements prior to <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> May</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5,</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div> are referred to as those of the "Predecessor Company", as they reflect the periods prior to application of fresh start accounting. The balance sheet as of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">31,</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016,</div> and the financial statements for periods subsequent to <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> May</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016,</div> are referred to as those of the "Successor Company." Under fresh start accounting, the Company's assets and liabilities were adjusted to their fair values, and a reorganization value for the entity was determined by the Company based upon the estimated fair value of the enterprise before considering values allocated to debt to be settled in the reorganization. The fresh start adjustments are material and affect the Company’s results of operations from and after <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> May</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5,</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016.</div> As a result of the application of fresh start accounting and the effects of the implementation of the Plan of Reorganization, the financial statements on or after <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> May</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5,</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div> are not comparable to the financial statements prior to that date.</div></div> <div style=" margin: 0pt; text-align: justify; font-family: Times New Roman, Times, serif; font-size: 10pt;"> </div> <div style=" margin: 0pt; text-align: justify; font-family: Times New Roman, Times, serif; font-size: 10pt;"><div style="display: inline; text-decoration: underline;">Common Stock</div></div> <div style=" margin: 0pt; text-align: justify; font-family: Times New Roman, Times, serif; font-size: 10pt;"><div style="display: inline; font-style: italic;">R<div style="display: inline; font-family: Times New Roman, Times, serif; font-size: 10pt;">ecapitalization</div></div></div> <div style=" margin: 0pt; text-align: justify; font-family: Times New Roman, Times, serif; font-size: 10pt;">In accordance with the Plan of Reorganization, as of the Effective Date, the Company issued <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">7,500,000</div> shares (the “<div style="display: inline; font-family: Times New Roman, Times, serif; font-size: 10pt;">Recapitalization Shares”) of new common stock, par value <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$0.0001</div> per share (the “New Common Stock”), to certain accredited investors (the “Recapitalization Investors”) for gross cash proceeds of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$7,300,000</div> and net cash to the Company of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$7,052,500</div> (the “Recapitalization Financing”). <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">200,000</div> of the <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">7,500,000</div> shares of New Common Stock were issued in partial payment of an advisory fee. The net cash amount excludes the effect of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$100,000</div> in offering expenses paid from the proceeds of the DIP Financing (as defined below in Note <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">10</div> - <div style="display: inline; font-style: italic;">Debt</div>), which was converted into Series A Preferred Stock as of the Effective Date, as described below under <div style="display: inline; font-style: italic;">“Series A Preferred Stock</div>.” As part of the Recapitalization Financing, the Company also issued warrants to purchase <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6,180,000</div> shares of New Common Stock to certain of the Recapitalization Investors (the “Warrants”). The Warrants terminate on<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> May</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5,</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2021</div></div><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">,</div> and are exercisable at any time on or after <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> </div><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">November</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5,</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div></div><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"></div> at exercise prices ranging from <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$0.50</div> per share to <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$1.00</div> per share. The number of shares of New Common Stock underlying a Warrant and its exercise price are subject to customary adjustments upon subdivisions, combinations, payment of stock dividends, reclassifications, reorganizations and consolidations. </div></div> <div style=" margin: 0pt; text-align: justify; font-family: Times New Roman, Times, serif; font-size: 10pt;"> </div><div style=" margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;"></div> <div style=" margin: 0pt; text-align: justify; font-family: Times New Roman, Times, serif; font-size: 10pt;">A significant majority of the Recapitali<div style="display: inline; font-family: Times New Roman, Times, serif; font-size: 10pt;">zation Investors executed backstop commitments to purchase up to <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">12,800,000</div> additional shares of New Common Stock for an aggregate purchase price of up to <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$3,000,000</div> (collectively, the “Backstop Commitment”). The Company cannot call the Backstop Commitment prior to <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> </div><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">June</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">30,</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2017.</div></div><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"></div></div></div> <div style=" margin: 0pt; text-align: justify; font-family: Times New Roman, Times, serif; font-size: 10pt;"> </div> <div style=" margin: 0pt; text-align: justify; font-family: Times New Roman, Times, serif; font-size: 10pt;">With respect to each Recapitalization Investor who executed a Backstop Commitment, the commitment terminates on the earlier of: (i) the date on which the Company receives net proceeds (after deducting all costs, expenses and commi<div style="display: inline; font-family: Times New Roman, Times, serif; font-size: 10pt;">ssions) from the sale of New Common Stock in the aggregate amount of the Backstop Commitment; (ii) the date that all shares of Series A Preferred Stock (as defined below) have been redeemed by the Company; or (iii) the date that all shares of Series A Preferred Stock are no longer owned by entities affiliated with Deerfield Mgmt, L.P., Deerfield Management Company, L.P., Deerfield Special Situations Fund, L.P., and Deerfield Private Design Fund II, L.P. (the “Deerfield Lenders” or “Deerfield”). We refer to this date as the “Termination Date.” Under the terms of the Backstop Commitment, the Company is obligated to pay to the committed Recapitalization Investors a commitment fee of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$250,000</div> in the aggregate</div> <div style="display: inline; font-family: Times New Roman, Times, serif; font-size: 10pt;">upon the Termination Date</div><div style="display: inline; font-family: Times New Roman, Times, serif; font-size: 10pt;">.</div></div> <div style=" margin: 0pt; text-align: justify; font-family: Times New Roman, Times, serif; font-size: 10pt;"> </div> <div style=" margin: 0pt; text-align: justify; font-family: Times New Roman, Times, serif; font-size: 10pt;">As of the Effective <div style="display: inline; font-family: Times New Roman, Times, serif; font-size: 10pt;">Date, the Company entered into a registration rights agreement (the “Registration Rights Agreement”) with the Recapitalization Investors. The Registration Rights Agreement provides certain resale registration rights to the Recapitalization Investors with respect to securities received in the Recapitalization Financing. Pursuant to the Registration Rights Agreement, the Company filed a registration statement, which was declared effective on <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> January</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">11,</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2017,</div> covering the resale of all shares of New Common Stock issued to the Recapitalization Investors on the Effective Date.</div></div> <div style=" margin: 0pt; text-align: justify; font-family: Times New Roman, Times, serif; font-size: 10pt;"> </div> <div style=" margin: 0pt; text-align: justify; font-family: Times New Roman, Times, serif; font-size: 10pt;"><div style="display: inline; font-style: italic;">Issuance of New Common Stock to Holders of Old Common Stock</div></div> <div style=" margin: 0pt; text-align: justify; font-family: Times New Roman, Times, serif; font-size: 10pt;">As of the Effective Date, the Company committed to the issuance of up to <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,000,000</div> shares of New Common Stock and subsequently issue<div style="display: inline; font-family: Times New Roman, Times, serif; font-size: 10pt;">d <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,264,612</div> shares of New Common Stock (the “Exchange Shares”) to record holders of the Old Common Stock as of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> March</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">28,</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016,</div> who executed and timely delivered the required release documents no later than <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> July</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5,</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016,</div> in accordance with the Confirmation Order and the Plan. The holders of Old Common Stock who executed and timely delivered the required release documents are referred to as the “Releasing Holders.”</div></div> <div style=" margin: 0pt; text-align: justify; text-indent: 36pt; font-family: Times New Roman, Times, serif; font-size: 10pt;"> </div> <div style=" margin: 0pt; text-align: justify; font-family: Times New Roman, Times, serif; font-size: 10pt;">The <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,264,612</div> Exchange Shares were issued as of the Effective Date to Releasing Holders who as<div style="display: inline; font-family: Times New Roman, Times, serif; font-size: 10pt;">serted ownership of a number of shares of Old Common Stock that matched the Company’s records or could otherwise be confirmed at a rate of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">one</div> share of New Common Stock for every <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">41.8934</div> shares of Old Common Stock held by such holders as of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> March</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">28,</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016.</div> In accordance with the Plan, if the calculation would otherwise have resulted in the issuance to any Releasing Holder of a number of shares of New Common Stock that is not a whole number, then the number of shares actually issued to such Releasing Holder was determined by rounding down to the nearest number.</div></div> <div style=" margin: 0pt; text-align: justify; text-indent: 36pt; font-family: Times New Roman, Times, serif; font-size: 10pt;"> </div> <div style=" margin: 0pt; text-align: justify; font-family: Times New Roman, Times, serif; font-size: 10pt;"><div style="display: inline; font-style: italic;">Issuance of Shares in Exchange for Administrative Claims</div></div> <div style=" margin: 0pt; text-align: justify; font-family: Times New Roman, Times, serif; font-size: 10pt;">On <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> June</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">20,</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016,</div> the Company issued <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">162,500</div> shares of New Common Stock (the “<div style="display: inline; font-family: Times New Roman, Times, serif; font-size: 10pt;">Administrative Claim Shares”) pursuant to the Order Granting Application of the Ad Hoc Equity Committee Pursuant to <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">11</div> U.S.C. §§ <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">503(b)(3)(D)</div> and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">503(b)(4)</div> for Allowance of Fees and Expenses Incurred in Making a Substantial Contribution, entered by the Bankruptcy Court on <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> June</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">20,</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016.</div> The Administrative Claim Shares were issued to holders of administrative claims under sections <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">503(b)(3)(D)</div> and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">503(b)(4)</div> of the Bankruptcy Code. Of the <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">162,500</div> shares, <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">100,000</div> shares were issued to outside counsel to the Ad Hoc Equity Committee of the Company’s equity holders as compensation of all remaining allowed fees for legal services provided by such counsel. The remaining <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">62,500</div> were issued to designees of the Ad Hoc Equity Committee who had granted loans in an aggregate amount of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$62,500</div> to the Ad Hoc Equity Committee in <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2015</div> as repayment of such loans.</div></div> <div style=" margin: 0pt; text-align: justify; font-family: Times New Roman, Times, serif; font-size: 10pt;"><div style="display: inline; font-style: italic;"> </div></div> <div style=" margin: 0pt; text-align: justify; font-family: Times New Roman, Times, serif; font-size: 10pt;"><div style="display: inline; text-decoration: underline;">Series A Preferred Stock</div></div> <div style=" margin: 0pt; text-align: justify; font-family: Times New Roman, Times, serif; font-size: 10pt;">On the Effective Date, the Company filed a Certificate of Designations of Series A Preferred Stock (the “<div style="display: inline; font-family: Times New Roman, Times, serif; font-size: 10pt;">Certificate of Designations”) with the Delaware Secretary of State, designating <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">29,038</div> shares of the Company’s undesignated preferred stock, par value <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$0.0001</div> per share, as Series A Preferred Stock (the “Series A Preferred Stock”). On the Effective Date, the Company issued <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">29,038</div> shares of Series A Preferred Stock to Deerfield in accordance with the Plan pursuant to the exemption from the registration requirements of the Securities Act provided by Section <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1145</div> of the Bankruptcy Code. The Deerfield Lenders did not receive any shares of New Common Stock or other equity interests in the Company.</div></div> <div style=" margin: 0pt; text-align: justify; font-family: Times New Roman, Times, serif; font-size: 10pt;"> <div style="display: inline; font-family: Times New Roman, Times, serif; font-size: 10pt;"> </div></div> <div style=" margin: 0pt; text-align: justify; font-family: Times New Roman, Times, serif; font-size: 10pt;">The Series A P<div style="display: inline; font-family: Times New Roman, Times, serif; font-size: 10pt;">referred Stock has no stated maturity date, is not convertible or redeemable, and carries a liquidation preference of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$29,038,000,</div> which is required to be paid to holders of such Series A Preferred Stock before any payments are made with respect to shares of New Common Stock (and other capital stock that is not issued on parity or senior to the Series A Preferred Stock) upon a liquidation or change in control transaction. For so long as Series A Preferred Stock is outstanding, the holders of Series A Preferred Stock have the right to nominate and elect <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">one</div> member of the board of directors of the Company (the “Board of Directors”) and to have such director serve on a standing committee of the Board of Directors established to exercise powers of the Board of Directors in respect of decisions or actions relating to the Backstop Commitment. The holders of the Series A Preferred Stock nominated and elected <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">one</div> member of the Board of Directors to serve as the designee of the holders of Series A Preferred Stock. The Series A Preferred Stock has voting rights, voting with the New Common Stock as a single class, with each share of Series A Preferred Stock having the right to <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">five</div> votes, which currently represents approximately <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">one</div> percent <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1%)</div> of the voting rights of the capital stock of the Company. The holders of Series A Preferred Stock have the right to approve certain transactions and incurrences of debt. The Certificate of Designations limits the Company’s ability to pay dividends on or purchase shares of its capital stock.</div></div> <div style=" margin: 0pt; text-align: justify; font-family: Times New Roman, Times, serif; font-size: 10pt;"> </div><div style=" margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;"></div> <div style=" margin: 0pt; text-align: justify; font-family: Times New Roman, Times, serif; font-size: 10pt;"><div style="display: inline; text-decoration: underline;">Assignment and Assumption Agreement; Transition Services Agreement</div></div> <div style=" margin: 0pt; text-align: justify; font-family: Times New Roman, Times, serif; font-size: 10pt;">Pursuant to the Plan, on <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> May</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5,</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016,</div> the Company entered into an Assignment and Assumption Agreement with Deerfield SS, LLC (the “<div style="display: inline; font-family: Times New Roman, Times, serif; font-size: 10pt;">Assignee”), the designee of the Deerfield Lenders, to assign to the Assignee the Company’s rights, title and interest in and to its existing license agreement with Arthrex, and to transfer and assign to the Assignee associated intellectual property owned by the Company and licensed thereunder, as well as rights to collect royalty payments thereunder. The assignment and transfer was effected in exchange for a reduction of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$15,000,000</div> in the amount of the allowed claim of the Deerfield Lenders pursuant to the Plan. As a result of the assignment and transfer, the Aurix System currently represents the Company’s only commercial product offering.</div></div> <div style=" margin: 0pt; text-align: justify; font-family: Times New Roman, Times, serif; font-size: 10pt;"> </div> <div style=" margin: 0pt; text-align: justify; font-family: Times New Roman, Times, serif; font-size: 10pt;">On the Effective Date, the Company and the Assignee entered into a Transition Services Agreement in which the Company agreed to continue to service its license<div style="display: inline; font-family: Times New Roman, Times, serif; font-size: 10pt;"> agreement with Arthrex for a transition period.</div></div> <div style=" margin: 0pt; text-align: justify; font-family: Times New Roman, Times, serif; font-size: 10pt;"> </div> <div style=" margin: 0pt; text-align: justify; font-family: Times New Roman, Times, serif; font-size: 10pt;"><div style="display: inline; text-decoration: underline;">Termination of Deerfield Facility Agreement and DIP Credit<div style="display: inline; font-family: Times New Roman, Times, serif; font-size: 10pt;"> Agreement</div></div></div> <div style=" margin: 0pt; text-align: justify; font-family: Times New Roman, Times, serif; font-size: 10pt;">On the Effective Date, the obligations of the Company under the Deerfield Facility Agreement, and under the DIP Credit Agreement (as defined below in Note <div style="display: inline; font-family: Times New Roman, Times, serif; font-size: 10pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">10</div> - <div style="display: inline; font-style: italic;">Debt</div>), were cancelled in accordance with the Plan of Reorganization, and the Company ceased to have any obligations thereunder.</div></div></div> | |
| us-gaap |
Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
|
|||
| us-gaap |
Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
|
99960 | ||
| us-gaap |
Net Income Loss
NetIncomeLoss
|
-5695627 | ||
| us-gaap |
Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
|
-5695027 | ||
| us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
-237665 | ||
| CY2016 | us-gaap |
Number Of Operating Segments
NumberOfOperatingSegments
|
1 | |
| CY2016 | us-gaap |
Number Of Reporting Units
NumberOfReportingUnits
|
1 | |
| us-gaap |
Operating Expenses
OperatingExpenses
|
5201357 | ||
| us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-5457962 | ||
| CY2016Q4 | us-gaap |
Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
|
1026000 | |
| CY2016Q4 | us-gaap |
Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
|
463000 | |
| CY2016Q4 | us-gaap |
Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
|
122000 | |
| CY2016Q4 | us-gaap |
Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
|
441000 | |
| us-gaap |
Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
|
87000 | ||
| us-gaap |
Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
|
180000 | ||
| CY2015 | us-gaap |
Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
|
224000 | |
| CY2016Q4 | us-gaap |
Operating Loss Carryforwards
OperatingLossCarryforwards
|
163200000 | |
| CY2016Q4 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
124484 | |
| CY2015Q4 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
518734 | |
| CY2016Q4 | us-gaap |
Other Assets Noncurrent
OtherAssetsNoncurrent
|
278730 | |
| us-gaap |
Other Income
OtherIncome
|
50000 | ||
| CY2016Q4 | us-gaap |
Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
|
123434 | |
| us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
89105 | ||
| us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
|||
| CY2016Q2 | us-gaap |
Postconfirmation Additional Paid In Capital
PostconfirmationAdditionalPaidInCapital
|
17887966 | |
| CY2016Q2 | us-gaap |
Postconfirmation Assets
PostconfirmationAssets
|
24049746 | |
| CY2016Q2 | us-gaap |
Postconfirmation Cash And Cash Equivalents
PostconfirmationCashAndCashEquivalents
|
10358209 | |
| CY2016Q2 | us-gaap |
Postconfirmation Common Stock
PostconfirmationCommonStock
|
750 | |
| CY2016Q2 | us-gaap |
Postconfirmation Current Assets
PostconfirmationCurrentAssets
|
12352005 | |
| CY2016Q2 | us-gaap |
Postconfirmation Goodwill
PostconfirmationGoodwill
|
2079284 | |
| CY2016Q2 | us-gaap |
Postconfirmation Inventories
PostconfirmationInventories
|
56348 | |
| CY2016Q2 | us-gaap |
Preconfirmation Receivables Net
PreconfirmationReceivablesNet
|
1288445 | |
| CY2016Q2 | us-gaap |
Preconfirmation Restricted Cash And Cash Equivalents Current
PreconfirmationRestrictedCashAndCashEquivalentsCurrent
|
53463 | |
| CY2016Q2 | us-gaap |
Preconfirmation Preferred Stock
PreconfirmationPreferredStock
|
0 | |
| CY2016Q2 | us-gaap |
Preconfirmation Prepaid And Other Current Assets
PreconfirmationPrepaidAndOtherCurrentAssets
|
611593 | |
| CY2016Q2 | us-gaap |
Preconfirmation Property And Equipment Net
PreconfirmationPropertyAndEquipmentNet
|
865716 | |
| CY2016Q4 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
1000000 | |
| CY2016Q2 | us-gaap |
Postconfirmation Liabilities
PostconfirmationLiabilities
|
6161027 | |
| CY2016Q2 | us-gaap |
Postconfirmation Liabilities And Stockholders Equity
PostconfirmationLiabilitiesAndStockholdersEquity
|
24049746 | |
| CY2016Q2 | us-gaap |
Postconfirmation Liabilities Subject To Compromise
PostconfirmationLiabilitiesSubjectToCompromise
|
0 | |
| CY2016Q2 | us-gaap |
Postconfirmation Preferred Stock
PostconfirmationPreferredStock
|
3 | |
| CY2016Q2 | us-gaap |
Postconfirmation Prepaid And Other Current Assets
PostconfirmationPrepaidAndOtherCurrentAssets
|
595540 | |
| CY2016Q2 | us-gaap |
Postconfirmation Property And Equipment Net
PostconfirmationPropertyAndEquipmentNet
|
865716 | |
| CY2016Q2 | us-gaap |
Postconfirmation Receivables Net
PostconfirmationReceivablesNet
|
1288445 | |
| CY2016Q2 | us-gaap |
Postconfirmation Restricted Cash And Cash Equivalents Current
PostconfirmationRestrictedCashAndCashEquivalentsCurrent
|
53463 | |
| CY2016Q2 | us-gaap |
Postconfirmation Retained Earnings Deficit
PostconfirmationRetainedEarningsDeficit
|
0 | |
| CY2016Q2 | us-gaap |
Postconfirmation Stockholders Equity
PostconfirmationStockholdersEquity
|
17888719 | |
| CY2016Q2 | us-gaap |
Preconfirmation Additional Paid In Capital
PreconfirmationAdditionalPaidInCapital
|
126011808 | |
| CY2016Q2 | us-gaap |
Preconfirmation Amortizable Intangible Assets Net
PreconfirmationAmortizableIntangibleAssetsNet
|
2406457 | |
| CY2016Q2 | us-gaap |
Preconfirmation Assets
PreconfirmationAssets
|
8943472 | |
| CY2016Q2 | us-gaap |
Preconfirmation Cash And Cash Equivalents
PreconfirmationCashAndCashEquivalents
|
3305709 | |
| CY2016Q2 | us-gaap |
Preconfirmation Common Stock
PreconfirmationCommonStock
|
12477 | |
| CY2016Q2 | us-gaap |
Preconfirmation Current Assets
PreconfirmationCurrentAssets
|
5315558 | |
| CY2016Q2 | us-gaap |
Preconfirmation Goodwill
PreconfirmationGoodwill
|
0 | |
| CY2016Q2 | us-gaap |
Preconfirmation Inventories
PreconfirmationInventories
|
56348 | |
| CY2016Q2 | us-gaap |
Preconfirmation Liabilities
PreconfirmationLiabilities
|
51900824 | |
| CY2016Q2 | us-gaap |
Preconfirmation Liabilities And Stockholders Equity
PreconfirmationLiabilitiesAndStockholdersEquity
|
8943472 | |
| CY2016Q2 | us-gaap |
Preconfirmation Liabilities Subject To Compromise
PreconfirmationLiabilitiesSubjectToCompromise
|
39089877 | |
| CY2016Q2 | us-gaap |
Preconfirmation Retained Earnings Deficit
PreconfirmationRetainedEarningsDeficit
|
-169874587 | |
| CY2016Q2 | us-gaap |
Preconfirmation Stockholders Equity
PreconfirmationStockholdersEquity
|
-43457352 | |
| CY2016Q4 | us-gaap |
Preferred Stock Liquidation Preference Value
PreferredStockLiquidationPreferenceValue
|
29038000 | |
| CY2016Q4 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.0001 | |
| CY2016Q4 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
29038 | |
| CY2016Q4 | us-gaap |
Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
|
29038 | |
| CY2016Q4 | us-gaap |
Preferred Stock Value
PreferredStockValue
|
3 | |
| CY2016Q4 | us-gaap |
Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
|
334437 | |
| us-gaap |
Proceeds From Other Short Term Debt
ProceedsFromOtherShortTermDebt
|
|||
| us-gaap |
Proceeds From Sale Of Other Property Plant And Equipment
ProceedsFromSaleOfOtherPropertyPlantAndEquipment
|
100000 | ||
| CY2016Q4 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
765717 | |
| CY2015Q4 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
2201846 | |
| CY2016Q4 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
486116 | |
| CY2015Q4 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
1115214 | |
| us-gaap |
Reorganization Items
ReorganizationItems
|
324551 | ||
| CY2016Q2 | us-gaap |
Reorganization Value
ReorganizationValue
|
24050000 | |
| CY2016Q4 | us-gaap |
Reorganization Value Present Value Of Discounted Cash Flows Of Emerging Entity
ReorganizationValuePresentValueOfDiscountedCashFlowsOfEmergingEntity
|
1507863 | |
| CY2016Q4 | us-gaap |
Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
|
201200 | |
| us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
1015871 | ||
| CY2016Q4 | us-gaap |
Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
|
53503 | |
| CY2015Q4 | us-gaap |
Restructuring Reserve Current
RestructuringReserveCurrent
|
300000 | |
| CY2016Q4 | us-gaap |
Restructuring Reserve Current
RestructuringReserveCurrent
|
0 | |
| CY2016Q4 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-5695627 | |
| us-gaap |
Revenues
Revenues
|
472445 | ||
| us-gaap |
Royalty Revenue
RoyaltyRevenue
|
106050 | ||
| us-gaap |
Sales Revenue Goods Net
SalesRevenueGoodsNet
|
366395 | ||
| us-gaap |
Stock Issued1
StockIssued1
|
217936 | ||
| us-gaap |
Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
|
217936 | ||
| CY2016Q2 | us-gaap |
Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
|
9600000 | |
| CY2016Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
12486027 | |
| us-gaap |
Selling And Marketing Expense
SellingAndMarketingExpense
|
893138 | ||
| us-gaap |
Share Based Compensation
ShareBasedCompensation
|
74999 | ||
| CY2016 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
|
0.83 | |
| CY2015 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum
|
1.17 | |
| CY2015 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum
|
0.93 | |
| CY2016 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
|
0.02 | |
| CY2015 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
|
0.017 | |
| CY2016 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
|
0.018 | |
| CY2015 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
|
0.014 | |
| CY2016Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
|
331665 | |
| CY2016Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
|
1 | |
| CY2016Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
|
1265000 | |
| CY2016Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
|
1 | |
| CY2016 | us-gaap |
Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Upper Range Limit
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeUpperRangeLimit
|
1 | |
| CY2015 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
|
P6Y109D | |
| CY2016 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
|
P9Y186D | |
| CY2016Q2 | us-gaap |
Stockholders Equity
StockholdersEquity
|
17888719 | |
| CY2016Q4 | us-gaap |
Tax Credit Carryforward Amount
TaxCreditCarryforwardAmount
|
3484799 | |
| CY2016Q2 | us-gaap |
Tax Credit Carryforward Amount
TaxCreditCarryforwardAmount
|
3339000 | |
| CY2014Q1 | us-gaap |
Time Deposits At Carrying Value
TimeDepositsAtCarryingValue
|
53000 | |
| CY2016 | us-gaap |
Use Of Estimates
UseOfEstimates
|
<div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" margin: 0pt 36pt 0pt 0pt; text-align: justify; font-family: Times New Roman, Times, serif; font-size: 10pt;"><div style="display: inline; text-decoration: underline;">Use of Estimates</div></div> <div style=" margin: 0pt; text-align: justify; font-family: Times New Roman, Times, serif; font-size: 10pt;">The preparation of financial statements in conformity with U.S. GAAP requires us to make estimates and assumptions that affect the reported amounts of assets and l<div style="display: inline; font-family: Times New Roman, Times, serif; font-size: 10pt;">iabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amount of revenues and expenses during the reporting period. In the accompanying consolidated financial statements, estimates are used for, but not limited to, the application of fresh start accounting, stock-based compensation, allowance for inventory obsolescence, allowance for doubtful accounts, valuation of derivative liabilities, contingent liabilities, fair value and depreciable lives of long-lived assets (including property and equipment, intangible assets and goodwill), deferred taxes and associated valuation allowance and the classification of our long-term debt. Actual results could differ from those estimates.</div></div></div></div></div></div> | |
| us-gaap |
Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
|
-2226253 | ||
| us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
9895966 | ||
| us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
9895966 |
