| 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. | | | December 31, 2017, | | | | | January 1, 2018 | | | Balance Sheet | | As Reported Under | | Adjustments Due | | As Adjusted | | | (in thousands) | | ASC 605 | | to ASC 606 | | Under ASC 606 | | | | | | | | | | | | | | | Liabilities | | | | | | | | | | | | 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. | | | March 31, 2018 | | | Balance Sheet | | Under | | Effect of | | As Reported | | | (in thousands) | | ASC 605 | | ASC 606 | | Under ASC 606 | | | Liabilities and Stockholders’ Equity | | | | | | | | | | | | Current liabilities | | | | | | | | | | | | Current portion of deferred revenue | | $ | 1,146 | | $ | (602) | | $ | 544 | | | Total current liabilities | | | 7,056 | | | (602) | | | 6,454 | | | Deferred revenue, net of current portion | | | 2,910 | | | (2,910) | | | - | | | Total liabilities | | | 9,966 | | | (3,512) | | | 6,454 | | | | | | | | | | | | | | | Stockholders’ Equity | | | | | | | | | | | | Accumulated deficit | | | (368,255) | | | (3,663) | | | (364,592) | | | Total stockholders’ equity | | $ | 165,536 | | $ | 3,663 | | $ | 169,199 | |
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| 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. | | | First Quarter Ended March 31, 2018 | | | STATEMENT OF OPERATIONS | | Under | | Effect of | | As Reported | | | (in thousands except per share amounts) | | ASC 605 | | ASC 606 | | Under ASC 606 | | | Revenues | | | | | | | | | | | | License revenues | | $ | 151 | | $ | (151) | | $ | - | | | Total revenues BS | | | 2,749 | | | (151) | | | 2,598 | | | | | | | | | | | | | | | Loss from operations | | $ | (8,465) | | $ | (151) | | $ | (8,616) | | | Net loss | | $ | (8,312) | | $ | (151) | | $ | (8,463) | | | | | | | | | | | | | | | Basic and diluted loss per common share | | $ | (0.18) | | $ | 0.00 | | $ | (0.18) | |
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