Interpace Biosciences®, Inc. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Nature of Business and Significant Accounting Policies (Tables)

Nature of Business and Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2019

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.