| Balance Sheet Due to the Adoption of ASC 606 |
The table below presents the cumulative effect of the changes made to the consolidated January 1, 2018 balance sheet due to the adoption of ASC 606.
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|
|
December 31, 2017,
As Reported Under
ASC 605 |
|
|
Adjustments Due
to ASC 606 |
|
|
January 1, 2018
As Adjusted
Under ASC 606 |
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| |
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|
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|
|
|
| Current liabilities |
|
|
|
|
|
|
|
|
|
|
|
|
| Current portion of deferred revenue |
|
$ |
3,214 |
|
|
$ |
(602 |
) |
|
$ |
2,612 |
|
| Total current liabilities |
|
|
3,214 |
|
|
|
(602 |
) |
|
|
2,612 |
|
| Deferred revenue, net of current portion |
|
|
3,061 |
|
|
|
(3,061 |
) |
|
|
- |
|
| Total liabilities |
|
|
8,668 |
|
|
|
(3,663 |
) |
|
|
5,005 |
|
Stockholders’ Equity |
|
|
|
|
|
|
|
|
|
|
|
|
| Accumulated deficit |
|
|
(359,792 |
) |
|
|
3,663 |
|
|
|
(356,129 |
) |
| Total equity |
|
$ |
170,098 |
|
|
$ |
- |
|
|
$ |
170,098 |
|
The table below presents the impact of the adoption of ASC 606 on our balance sheet.
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|
Liabilities and Stockholders’ Equity |
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|
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|
|
|
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| Current liabilities |
|
|
|
|
|
|
|
|
|
|
|
|
| Current portion of deferred revenue |
|
$ |
602 |
|
|
$ |
(602 |
) |
|
$ |
- |
|
| Total current liabilities |
|
|
6,385 |
|
|
|
(602 |
) |
|
|
5,783 |
|
| Deferred revenue, net of current portion |
|
|
2,760 |
|
|
|
(2,760 |
) |
|
|
- |
|
| Total liabilities |
|
|
9,145 |
|
|
|
(3,362 |
) |
|
|
5,783 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
Stockholders’ Equity |
|
|
|
|
|
|
|
|
|
|
|
|
| Accumulated deficit |
|
|
(379,254 |
) |
|
|
3,662 |
|
|
|
(375,829 |
) |
| Total stockholders’ equity |
|
$ |
164,256 |
|
|
$ |
(3,662 |
) |
|
$ |
160,914 |
|
|
| Adoption of ASC 606 on Our Statement of Operations |
The table below presents the impact of the adoption of ASC 606 on our statement of operations.
| |
|
Second Quarter Ended June 30, 2018 |
|
(in thousands except per share amounts) |
|
|
|
|
|
|
|
|
|
|
|
|
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|
|
|
|
|
|
|
|
|
| License revenues |
|
$ |
150 |
|
|
$ |
(150 |
) |
|
$ |
- |
|
| Total revenues |
|
|
969 |
|
|
|
(150 |
) |
|
|
819 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Loss from operations |
|
$ |
(11,864 |
) |
|
$ |
(150 |
) |
|
$ |
(12,014 |
) |
| Net loss |
|
$ |
(11,550 |
) |
|
$ |
(150 |
) |
|
$ |
(11,700 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Basic and diluted loss per common share |
|
$ |
(0.25 |
) |
|
$ |
0.00 |
|
|
$ |
(0.25 |
) |
| |
|
Six Months Ended June 30, 2018 |
|
(in thousands except per share amounts) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| License revenues |
|
$ |
301 |
|
|
$ |
(301 |
) |
|
$ |
- |
|
| Total revenues |
|
|
3,718 |
|
|
|
(301 |
) |
|
|
3,417 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Loss from operations |
|
$ |
(20,329 |
) |
|
$ |
(301 |
) |
|
$ |
(20,630 |
) |
| Net loss |
|
$ |
(19,862 |
) |
|
$ |
(301 |
) |
|
$ |
(20,163 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Basic and diluted loss per common share |
|
$ |
(0.42 |
) |
|
$ |
(0.01 |
) |
|
$ |
(0.43 |
) |
|