Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets (Current Period Unaudited)

v2.4.0.8
Consolidated Balance Sheets (Current Period Unaudited) (USD $)
In Thousands, unless otherwise specified
Jun. 30, 2014
Dec. 31, 2013
Current assets:    
Cash and cash equivalents $ 29,622 $ 14,550
Accounts receivable 109 134
Inventories, net 4,321 1,828
Other current assets 754 658
Total current assets 34,806 17,170
Property and equipment, net 305 265
Goodwill 1,764 1,764
Restricted cash 340 328
Other assets 323 300
Total assets 37,538 19,827
Current liabilities:    
Accounts payable 4,641 3,058
Income taxes payable 111 25
Accrued distributor commissions 5,224 3,962
Other accrued expenses 5,599 3,146
Deferred revenue 3,171 2,569
Deferred tax liability 108 108
Other current liabilities 1,030 882
Total current liabilities 19,884 13,750
Commitments and contingencies 0 0
Stockholders’ equity:    
Preferred stock, $0.001 par value; 5,000,000 shares authorized; 1,761,900 shares designated Series A convertible preferred stock, 123,693 and 91,693 shares issued and outstanding at December 31, 2013 and June 30, 2014, respectively, aggregate liquidation value of $183 82 111
Common stock, $0.001 par value; 50,000,000 shares authorized; 11,332,771 and 12,113,392 shares issued and outstanding at December 31, 2013 and June 30, 2014, respectively 12 11
Additional paid-in capital 83,284 80,655
Accumulated deficit (65,658) (74,619)
Accumulated other comprehensive loss:    
Foreign currency translation adjustments (66) (81)
Total stockholders’ equity 17,654 6,077
Total liabilities and stockholders’ equity $ 37,538 $ 19,827