Annual report pursuant to Section 13 and 15(d)

Nature of Business and Significant Accounting Policies (Tables)

v3.20.4
Nature of Business and Significant Accounting Policies (Tables)
12 Months Ended
Dec. 31, 2019
Accounting Policies [Abstract]  
Schedule of Other Current Assets

Other current assets consisted of the following as of December 31, 2019 and 2018:

 

    December 31, 2019     December 31, 2018  
Indemnification asset   $ -     $ 875  
Lab supply inventory     1,825       -  
Prepaid expenses     971       1,230  
Funds in escrow     888       -  
Other     167       65  
Total other current assets   $ 3,851     $ 2,170  

Schedule of Misstatements of Assets
    For the Year Ended December 31, 2014  
    As
Reported
    Asset
Amortization
    Asset
Impairment
    Other     As
Restated
 
Total Assets   $ 115,906     $ (695 )   $         -     $    -     $ 115,211  
                                         
Stockholders’ Equity     20,122       (695 )     -       -       19,427  
                                         
Net Loss   $ (16,073 )   $ (695 )   $ -     $ -     $ (16,768 )
                                         
Earnings Per Share*   $ (107.87 )   $ (4.66 )   $ -     $ -     $ (112.53 )

 

    For the Year Ended December 31, 2015  
    As
Reported
    Asset
Amortization
    Asset
Impairment
    Other     As
Restated
 
Total Assets   $ 67,712     $ (2,971 )   $       -     $     -     $ 64,741  
                                         
Stockholders’ Equity     13,038       (2,971 )     -       -       10,067  
                                         
Net Loss   $ (11,356 )   $ (2,276 )   $ -     $ -     $ (13,632 )
                                         
Earnings Per Share*   $ (73.26 )   $ (14.68 )   $ -     $ -     $ (87.95 )

 

    For the Year Ended December 31, 2016  
    As
Reported
    Asset
Amortization
    Asset
Impairment
    Other     As
Restated
 
Total Assets   $ 41,778     $ (5,010 )   $ (11,632 )   $    -     $ 25,136  
                                         
Stockholders’ Equity     6,531       (5,010 )     (11,632 )     -       (10,111 )
                                         
Net Loss   $ (8,332 )   $ (2,039 )   $ (11,632 )   $ -     $ (22,003 )
                                         
Earnings Per Share*   $ (45.78 )   $ (11.20 )   $ (63.91 )   $ -     $ (120.90 )

 

    For the Year Ended December 31, 2017  
    As
Reported
    Asset
Amortization
    Asset
Impairment
    Other     As
Restated
 
Total Assets   $ 53,598     $ (5,347 )   $ (11,632 )   $     -     $ 36,619  
                                         
Stockholders’ Equity     39,869       (5,347 )     (11,632 )     -       22,890  
                                         
Net Loss   $ (12,216 )   $ (337 )   $ -     $ -     $ (12,553 )
                                         
Earnings Per Share*   $ (7.75 )   $ (0.21 )   $ -     $ -     $ (7.96 )

 

* Adjusted for reverse stock splits since the filing of the original financial statements.

Schedule of Restatement of Previously Issued Consolidated Financial Statements

INTERPACE BIOSCIENCES, INC.

CONSOLIDATED BALANCE SHEET

(in thousands, except share and per share data) 

    December 31, 2019  
    As Previously Reported     Restatement Amount     Restatement Reference   As Restated  
                       
ASSETS                            
Current assets:                            
Cash and cash equivalents   $ 2,321     $ -         $ 2,321  
Accounts receivable, net     10,197       141     (c)     10,338  
Other current assets     3,851       -           3,851  
Total current assets     16,369       141           16,510  
Property and equipment, net     6,814       -           6,814  
Other intangible assets, net     33,501       (17,652 )   (a) (b)     15,849  
Goodwill     8,433       -           8,433  
Operating lease right of use assets     3,892       -           3,892  
Other long-term assets     42       -           42  
Total assets   $ 69,051     $ (17,511 )       $ 51,540  
                             
LIABILITIES AND STOCKHOLDERS’ EQUITY                      
Current liabilities:                            
Accounts payable   $ 4,812     $ (103 )   (c)   $ 4,709  
Accrued salary and bonus     2,341       -     (c)     2,341  
Other accrued expenses     9,379       97     (c)     9,476  
Current liabilities from discontinued operations     766       -           766  
Total current liabilities     17,298       (6 )         17,292  
Contingent consideration     2,391       -           2,391  
Operating lease liabilities, net of current portion     2,591       -           2,591  
Line of credit     3,000       -           3,000  
Other long-term liabilities     4,573       -           4,573  
Total liabilities     29,853       (6 )         29,847  
                             
Preferred stock, $.01 par value; 5,000,000 shares authorized, 270 shares issued and outstanding     26,172       -           26,172  
                             
Stockholders’ equity:                            
Common stock, $.01 par value; 100,000,000 shares authorized; 3,932,370 shares issued and 3,920,589 shares outstanding;     393       -           393  
Additional paid-in capital     182,514       -           182,514  
Accumulated deficit     (168,160 )     (17,505 )   (a) (b) (c)     (185,665 )
Treasury stock, at cost (11,781 shares)     (1,721 )     -           (1,721 )
Total stockholders’ equity     13,026       (17,505 )         (4,479 )
Total liabilities and stockholders’ equity   $ 42,879     $ (17,511 )       $ 25,368  
                             
Total liabilities, preferred stock and stockholders’ equity   $ 69,051     $ (17,511 )       $ 51,540  

 

INTERPACE BIOSCIENCES, INC.

CONSOLIDATED BALANCE SHEET

(in thousands, except share and per share data)

 

    December 31, 2018  
    As Previously Reported     Restatement Amount     Restatement Reference   As Restated  
                       
ASSETS                            
Current assets:                            
Cash and cash equivalents   $ 6,068     $ -         $ 6,068  
Accounts receivable, net     9,483       -           9,483  
Other current assets     2,170       -           2,170  
Total current assets     17,721       -           17,721  
Property and equipment, net     837       -           837  
Other intangible assets, net     29,853       (17,315 )   (a) (b)     12,538  
Other long-term assets     31       -           31  
Total assets   $ 48,442     $ (17,315 )       $ 31,127  
                             
LIABILITIES AND STOCKHOLDERS’ EQUITY                      
Current liabilities:                            
Accounts payable   $ 1,059     $ -         $ 1,059  
Accrued salary and bonus     1,424       120     (c)     1,544  
Other accrued expenses     5,091       57     (c)     5,148  
Current liabilities from discontinued operations     918       -           918  
Total current liabilities     8,492       177           8,669  
Contingent consideration     2,693       -           2,693  
Other long-term liabilities     4,319       -           4,319  
Total liabilities     15,504       177           15,681  
                             
Stockholders’ equity:                            
Common stock, $.01 par value; 100,000,000 shares authorized; 2,876,734 shares issued and 2,869,427 shares outstanding;     287       -           287  
Additional paid-in capital     175,820       -           175,820  
Accumulated deficit     (141,489 )     (17,492 )   (a) (b) (c)     (158,981 )
Treasury stock, at cost (7,307 shares)     (1,680 )     -           (1,680 )
Total stockholders’ equity     32,938       (17,492 )         15,446  
Total liabilities and stockholders’ equity   $ 48,442     $ (17,315 )       $ 31,127  

 

INTERPACE BIOSCIENCES, INC.

CONSOLIDATED STATEMENT OF OPERATIONS

(in thousands, except for per share data)

 

    For The Year Ended December 31, 2019  
    As Previously Reported     Restatement Amount     Restatement Reference   As Restated  
                       
                       
Revenue, net   $ 24,079     $ 141     (c)   $ 24,220  
Cost of revenue     15,888       -           15,888  
Gross profit     8,191       141           8,332  
Operating expenses:                            
Sales and marketing     11,116       -           11,116  
Research and development     2,810       -           2,810  
General and administrative     14,546       (183 )   (c)     14,363  
Acquisition related expense     2,534       -           2,534  
Acquisition related amortization expense     3,652       337     (a)     3,989  
Change in fair value of contingent consideration     (44 )     -           (44 )
Total operating expenses     34,614       154           34,768  
                             
Operating loss     (26,423 )     (13 )         (26,436 )
Accretion expense     (440 )     -           (440 )
Other income (expense), net     196       -           196  
Loss from continuing operations before tax     (26,667 )     (13 )         (26,680 )
(Benefit) provision for income taxes     (28 )     -           (28 )
Loss from continuing operations     (26,639 )     (13 )         (26,652 )
                             
Income from discontinued operations, net of tax     (88 )     -           (88 )
                             
Net loss   $ (26,727 )   $ (13 )       $ (26,740 )
                             
Less dividends on preferred stock   $ (429 )   $ -         $ (429 )
                             
Net loss attributable to common stockholders   $ (27,156 )   $ (13 )       $ (27,169 )
                             
Basic and diluted (loss) income per share of common stock:                            
From continuing operations   $ (7.23 )   $ (0.00 )       $ (7.23 )
From discontinued operations     (0.02 )     -           (0.02 )
Net loss per basic and diluted share of common stock   $ (7.25 )   $ (0.00 )       $ (7.25 )

 

INTERPACE BIOSCIENCES, INC.

CONSOLIDATED STATEMENT OF OPERATIONS

(in thousands, except for per share data)

 

    For The Year Ended December 31, 2018  
    As Previously Reported     Restatement Amount     Restatement Reference   As Restated  
                       
                       
Revenue, net   $ 21,896     $ -         $ 21,896  
Cost of revenue     10,197       -           10,197  
Gross profit     11,699       -           11,699  
Operating expenses:                            
Sales and marketing     8,421       -           8,421  
Research and development     2,124       -           2,124  
General and administrative     8,499       177     (c)     8,676  
Acquisition related amortization expense     3,252       337     (a)     3,589  
Change in fair value of contingent consideration     1,522       -           1,522  
Total operating expenses     23,818       514           24,332  
                             
Operating loss     (12,119 )     (514 )         (12,633 )
Accretion expense     (331 )     -           (331 )
Other income (expense), net     263       -           263  
Loss from continuing operations before tax     (12,187 )     (514 )         (12,701 )
(Benefit) provision for income taxes     18       -           18  
Loss from continuing operations     (12,205 )     (514 )         (12,719 )
                             
Income from discontinued operations, net of tax     16       -           16  
                             
Net loss   $ (12,189 )   $ (514 )       $ (12,703 )
                             
Basic and diluted (loss) income per share of common stock:                            
From continuing operations   $ (4.33 )   $ (0.19 )       $ (4.52 )
From discontinued operations     -       -           -  
Net loss per basic and diluted share of common stock   $ (4.33 )   $ (0.19 )       $ (4.52 )

 

INTERPACE BIOSCIENCES, INC.

CONSOLIDATED STATEMENT OF STOCKHOLDERS’ EQUITY

(in thousands)

 

    As Previously Reported               As Restated  
    For The Year Ended               For The Year Ended  
    December 31, 2019     Restatement Amount     Restatement Reference   December 31, 2019  
    Shares     Amount               Shares     Amount  
Common stock:                                            
Balance at January 1     2,877     $ 287     $ -           2,877     $ 287  
Common stock issued     9       1       -           9       1  
Common stock issued through offerings     933       94       -           933       94  
Balance at March 31     3,819       382       -           3,819       382  
Common stock issued     10       1       -           10       1  
Balance at June 30     3,829       383       -           3,829       383  
Common stock issued     -       -       -           -       -  
Common stock issued through offerings     -       -       -           -       -  
Balance at September 30     3,829       383       -           3,829       383  
Common stock issued     5       -       -           5       -  
Common stock issued through market sales     98       10       -           98       10  
Balance at December 31     3,932       393       -           3,932       393  
Treasury stock:                                            
Balance at January 1     7       (1,680 )     -           7       (1,680 )
Treasury stock purchased     3       (32 )     -           3       (32 )
Balance at March 31     10       (1,712 )     -           10       (1,712 )
Treasury stock purchased     -       -       -           -       -  
Balance at June 30     10       (1,712 )     -           10       (1,712 )
Treasury stock purchased     -       -       -           -       -  
Balance at September 30     10       (1,712 )     -           10       (1,712 )
Treasury stock purchased     2       (9 )     -           2       (9 )
Balance at December 31     12       (1,721 )     -           12       (1,721 )
Additional paid-in capital:                                            
Balance at January 1             175,820       -                   175,820  
Common stock issued through offerings, net of expenses             5,868       -                   5,868  
Stock-based compensation expense             266       -                   266  
Balance at March 31             181,954       -                   181,954  
Common stock issued             72       -                   72  
Stock-based compensation expense             205       -                   205  
Balance at June 30             182,231       -                   182,231  
Common stock issued through offerings, net of expenses             -       -                   -  
Dividends accrued             (75 )     -                   (75 )
Stock-based compensation expense             205       -                   205  
Balance at September 30             182,361       -                   182,361  
Common stock issued through market sales, net of expenses             218       -                   218  
Common stock issued             -       -                   -  
Dividends accrued             (354 )     -                   (354 )
Stock-based compensation expense             289       -                   289  
Balance at December 31             182,514       -                   182,514  
Accumulated deficit:                                            
Balance at January 1             (141,489 )     (17,492 )   (a) (b) (c)             (158,981 )
Net loss             (3,419 )     93     (a) (c)             (3,326 )
Adoption of ASC 606             -       -                   -  
Adoption of ASC 842             55       -                   55  
Balance at March 31             (144,853 )     (17,399 )                 (162,252 )
Net loss             (5,220 )     (84 )    (a)             (5,304 )
Balance at June 30             (150,073 )     (17,483 )                 (167,556 )
Net loss             (7,362 )     (84 )    (a)             (7,446 )
Balance at September 30             (157,435 )     (17,567 )                 (175,002 )
Net loss             (10,725 )     62     (a) (c)             (10,663 )
Balance at December 31             (168,160 )     (17,505 )                 (185,665 )
                                             
Total stockholders’ equity           $ 13,026     $ (17,505 )               $ (4,479 )

 

INTERPACE BIOSCIENCES, INC.

CONSOLIDATED STATEMENT OF STOCKHOLDERS’ EQUITY

(in thousands)

 

    As Previously Reported               As Restated  
    For The Year Ended               For The Year Ended  
    December 31, 2018     Restatement Amount     Restatement Reference   December 31, 2018  
    Shares     Amount               Shares     Amount  
Common stock:                                            
Balance at January 1     2,790     $ 278     $ -           2,790     $ 278  
Common stock issued     4       1       -           4       1  
Common stock issued through offerings     -       -       -           -       -  
Balance at March 31     2,794       279       -           2,794       279  
Common stock issued     33       3       -           33       3  
Balance at June 30     2,827       282       -           2,827       282  
Common stock issued     10       1       -           10       1  
Common stock issued through offerings     -       -       -           -       -  
Balance at September 30     2,837       283       -           2,837       283  
Common stock issued     40       4       -           40       4  
Common stock issued through market sales     -       -       -           -       -  
Balance at December 31     2,877       287       -           2,877       287  
Treasury stock:                                            
Balance at January 1     6       (1,671 )     -           6       (1,671 )
Treasury stock purchased     1       (9 )     -           1       (9 )
Balance at March 31     7       (1,680 )     -           7       (1,680 )
Treasury stock purchased     -       -       -           -       -  
Balance at June 30     7       (1,680 )     -           7       (1,680 )
Treasury stock purchased     -       -       -           -       -  
Balance at September 30     7       (1,680 )     -           7       (1,680 )
Treasury stock purchased     -       -       -           -       -  
Balance at December 31     7       (1,680 )     -           7       (1,680 )
Additional paid-in capital:                                            
Balance at January 1             173,062       -                   173,062  
Common stock issued through offerings, net of expenses             -       -                   -  
Stock-based compensation expense             597       -                   597  
Balance at March 31             173,659       -                   173,659  
Common stock issued             282       -                   282  
Stock-based compensation expense             419       -                   419  
Balance at June 30             174,360       -                   174,360  
Common stock issued             144       -                   144  
Dividends accrued             -       -                   -  
Stock-based compensation expense             374       -                   374  
Balance at September 30             174,878       -                   174,878  
Common stock issued through market sales, net of expenses             -       -                   -  
Common stock issued             598       -                   598  
Dividends accrued             -       -                   -  
Stock-based compensation expense             344       -                   344  
Balance at December 31             175,820       -                   175,820  
Accumulated deficit:                                            
Balance at January 1             (131,800 )     (16,978 )   (a) (b) (c)             (148,778 )
Net loss             (3,193 )     (84 )    (a)             (3,277 )
Adoption of ASC 606             2,500       -                   2,500  
Adoption of ASC 842             -       -                   -  
Balance at March 31             (132,493 )     (17,062 )                 (149,555 )
Net loss             (1,917 )     (84 )    (a)             (2,001 )
Balance at June 30             (134,410 )     (17,146 )                 (151,556 )
Net loss             (3,042 )     (84 )    (a)             (3,126 )
Balance at September 30             (137,452 )     (17,230 )                 (154,682 )
Net loss             (4,037 )     (262 )   (a) (c)             (4,299 )
Balance at December 31             (141,489 )     (17,492 )                 (158,981 )
                                             
Total stockholders’ equity           $ 32,938     $ (17,492 )               $ 15,446  

 

INTERPACE BIOSCIENCES, INC.

CONSOLIDATED STATEMENT OF CASH FLOWS

(in thousands)

 

    For The Year Ended December 31, 2019  
    As Previously Reported     Restatement Amount     Restatement Reference   As Restated  
                       
Cash Flows From Operating Activities                            
Net loss   $ (26,727 )   $ (13 )   (a) (c)   $ (26,740 )
Adjustments to reconcile net loss to net cash used in operating activities:                            
Depreciation and amortization     4,187       337      (a)     4,524  
Interest accretion     440       -           440  
Bad debt expense     499       -           499  
Reversal of DOJ accrual     -       -           -  
Mark to market on warrants     (279 )     -           (279 )
Stock-based compensation     1,535       -           1,535  
Deferred income taxes     18       -           18  
Change in estimate on collectability of accounts receivable     3,479       -           3,479  
Change in fair value of contingent consideration     (44 )                 (44 )
Other gains and expenses, net     18       -           18  
Other changes in operating assets and liabilities:                            
Increase in accounts receivable     (961 )     (141 )   (c)     (1,102 )
Decrease (increase) in other current assets     129       -           129  
Increase in other long-term assets     (11 )     -           (11 )
(Decrease) increase in accounts payable     (835 )     (103 )   (c)     (938 )
Increase in accrued salaries and bonus     482       (120 )         362  
Decrease in accrued liabilities     (1,341 )     40     (c)     (1,301 )
Increase (decrease) in long-term liabilities     454       -           454  
Net cash used in operating activities     (18,957 )     -           (18,957 )
                             
Cash Flows From Investing Activity                            
Acquisition of Biopharma, net of cash acquired     (13,829 )     -           (13,829 )
Purchase of property and equipment     (131 )     -           (131 )
Sale of property and equipment     13       -           13  
Net cash used in investing activity     (13,947 )     -           (13,947 )
                             
Cash Flows From Financing Activities                            
Issuance of common stock, net of expenses     6,478       -           6,478  
Issuance of preferred stock, net of expenses     25,744       -           25,744  
Payment of CGIX note and related interest     (6,024 )     -           (6,024 )
Borrowings on Line of Credit     3,000       -           3,000  
Cash paid for repurchase of restricted shares     (41 )     -           (41 )
Net cash provided by (used in) financing activities     29,157       -           29,157  
                             
Net decrease in cash and cash equivalents     (3,747 )     -           (3,747 )
Cash and cash equivalents – beginning of year     6,068       -           6,068  
Cash and cash equivalents – end of year   $ 2,321     $ -         $ 2,321  

 

INTERPACE BIOSCIENCES, INC.

CONSOLIDATED STATEMENT OF CASH FLOWS

(in thousands)

 

    For The Year Ended December 31, 2018  
    As Previously Reported     Restatement Amount     Restatement Reference   As Restated  
                       
Cash Flows From Operating Activities                            
Net loss   $ (12,189 )   $ (514 )   (a) (c)   $ (12,703 )
Adjustments to reconcile net loss to net cash used in operating activities:                            
Depreciation and amortization     3,464       337      (a)     3,801  
Interest accretion     331       -           331  
Reversal of DOJ accrual     (350 )     -           (350 )
Mark to market on warrants     112       -           112  
Stock-based compensation     2,270       -           2,270  
Change in fair value of contingent consideration     1,522                   1,522  
Other changes in operating assets and liabilities:                            
Increase in accounts receivable     (3,546 )     -           (3,546 )
Increase in other current assets     (501 )     -           (501 )
Increase in accounts payable     668       -           668  
Increase in accrued salaries and bonus     30       120     (c)     150  
Decrease in accrued liabilities     (402 )     57     (c)     (345 )
Increase (decrease) in long-term liabilities     (82 )     -           (82 )
Net cash used in operating activities     (8,673 )     -           (8,673 )
                             
Cash Flows From Investing Activity                            
Purchase of property and equipment     (449 )     -           (449 )
Net cash used in investing activity     (449 )     -           (449 )
                             
Cash Flows From Financing Activities                            
Cash paid for repurchase of restricted shares     (9 )     -           (9 )
Net cash provided by (used in) financing activities     (9 )     -           (9 )
                             
Net decrease in cash and cash equivalents     (9,131 )     -           (9,131 )
Cash and cash equivalents – beginning of year     15,199       -           15,199  
Cash and cash equivalents – end of year   $ 6,068     $ -         $ 6,068  
Schedule of Materially Impacted by the Restatement

The following tables represent the first, second, and third quarters for 2014-2017 that were materially impacted by the restatement as shown below.

 

    September 30, 2014  
    As Reported     Asset
Amortization
    Asset
Impairment
    Other     As Restated  
Total Assets   $ 62,227     $ (118 )   $                 -     $              -     $ 62,109  
                                         
Stockholders’ Equity     25,424       (118 )     -       -       25,306  

 

    Three Months Ended September 30, 2014  
                               
Net Loss   $ (4,336 )   $ (118 )   $ -     $ -     $ (4,454 )
                                         
Earnings Per Share*   $ (29.10 )   $ (0.79 )   $ -     $ -     $ (29.89 )

 

    March 31, 2015  
    As Reported     Asset
Amortization
    Asset
Impairment
    Other     As Restated  
Total Assets   $ 112,612     $ (1,441 )   $                 -     $              -     $ 111,171  
                                         
Stockholders’ Equity     16,624       (1,441 )     -       -       15,183  

 

    Three Months Ended March 31, 2015  
                               
Net Loss   $ (3,868 )   $ (746 )   $ -     $ -     $ (4,614 )
                                         
Earnings Per Share*   $ (25.79 )   $ (4.97 )   $ -     $ -     $ (30.76 )

 

    June 30, 2015  
    As Reported     Asset
Amortization
    Asset
Impairment
    Other     As Restated  
Total Assets   $ 107,573     $ (1,951 )   $                 -     $              -     $ 105,622  
                                         
Stockholders’ Equity     10,298       (1,951 )     -       -       8,347  

 

    Three Months Ended June 30, 2015  
                               
Net Loss   $ (6,978 )   $ (510 )   $ -     $ -     $ (7,488 )
                                         
Earnings Per Share*   $ (45.91 )   $ (3.36 )   $ -     $ -     $ (49.26 )

 

    September 30, 2015  
    As Reported     Asset
Amortization
    Asset
Impairment
    Other     As Restated  
Total Assets   $ 99,287     $ (2,461 )   $                  -     $                 -     $ 96,826  
                                         
Stockholders’ Equity     5,861       (2,461 )     -       -       3,400  

 

    Three Months Ended September 30, 2015  
                                         
Net Loss   $ (4,895 )   $ (510 )   $ -     $ -     $ (5,405 )
                                         
Earnings Per Share*   $ (31.18 )   $ (3.25 )   $ -     $ -     $ (34.43 )

 

    March 31, 2016  
    As Reported     Asset
Amortization
    Asset
Impairment
    Other     As Restated  
Total Assets   $ 56,775     $ (3,480 )   $                 -     $              -     $ 53,295  
                                         
Stockholders’ Equity     8,306       (3,480 )     -       -       4,826  

 

    Three Months Ended March 31, 2016  
                                         
Net Loss   $ (4,786 )   $ (510 )   $ -     $ -     $ (5,296 )
                                         
Earnings Per Share*   $ (26.89 )   $ (2.87 )   $ -     $ -     $ (29.75 )

 

    June 30, 2016  
    As Reported     Asset
Amortization
    Asset
Impairment
    Other     As Restated  
Total Assets   $ 53,510     $ (3,990 )   $                  -     $              -     $ 49,520  
                                         
Stockholders’ Equity     5,993       (3,990 )     -       -       2,003  

 

    Three Months Ended June 30, 2016
                                         
Net Loss   $ (2,334 )   $ (510 )   $ -     $ -     $ (2,844 )
                                         
Earnings Per Share*   $ (12.82 )   $ (2.80 )   $ -     $ -     $ (15.63 )

 

    September 30, 2016  
    As Reported     Asset
Amortization
    Asset
Impairment
    Other     As Restated  
Total Assets   $ 45,964     $ (4,500 )   $                -     $                -     $ 41,464  
                                         
Stockholders’ Equity     (1,479 )     (4,500 )     -       -       (5,979 )

 

    Three Months Ended September 30, 2016  
                                         
Net Loss   $ (7,493 )   $ (510 )   $ -     $ -     $ (8,003 )
                                         
Earnings Per Share*   $ (41.17 )   $ (2.80 )   $ -     $ -     $ (43.97 )

 

    March 31, 2017  
    As Reported     Asset
Amortization
    Asset
Impairment
    Other     As Restated  
Total Assets   $ 46,975     $ (5,094 )   $ (11,632 )   $ -     $ 30,249  
                                         
Stockholders’ Equity     24,569       (5,094 )     (11,632 )     -       7,843  

 

    Three Months Ended March 31, 2017  
                                         
Net Income (Loss)   $ 2,414     $ (84 )   $ -     $ -     $ 2,330  
                                         
Earnings Per Share*   $ 5.51     $ (0.19 )   $ -     $ -     $ 5.32  

 

    June 30, 2017  
    As Reported     Asset
Amortization
    Asset
Impairment
    Other     As Restated  
Total Assets   $ 53,744     $ (5,178 )   $ (11,632 )   $              -     $ 36,934  
                                         
Stockholders’ Equity     36,342       (5,178 )     (11,632 )     -       19,532  

 

    Three Months Ended June 30, 2017  
                                         
Net Loss   $ (6,306 )   $ (84 )   $ -     $ -     $ (6,390 )
                                         
Earnings Per Share*   $ (6.53 )   $ (0.09 )   $ -     $ -     $ (6.61 )

 

    September 30, 2017  
    As Reported     Asset
Amortization
    Asset
Impairment
    Other     As Restated  
Total Assets   $ 50,391     $ (5,262 )   $ (11,632 )   $              -     $ 33,497  
                                         
Stockholders’ Equity     36,378       (5,262 )     (11,632 )     -       19,484  

 

    Three Months Ended September 30, 2017  
                                         
Net Loss   $ (3,316 )   $ (84 )   $ -     $ -     $ (3,400 )
                                         
Earnings Per Share*   $ (1.51 )   $ (0.04 )   $ -     $ -     $ (1.54 )

 

* Adjusted for reverse stock splits since the filing of the original financial statements.