Quarterly report pursuant to Section 13 or 15(d)

FAIR VALUE MEASUREMENTS (Tables)

v3.22.1
FAIR VALUE MEASUREMENTS (Tables)
 3 Months Ended
Mar. 31, 2022
Accounting Policies [Abstract]  
SCHEDULE OF OTHER CURRENT ASSETS

Other current assets consisted of the following as of March 31, 2022 and December 31, 2021:

 

    March 31, 2022     December 31, 2021  
    (unaudited)        
Lab supply inventory   $ 2,059     $ 1,786  
Prepaid expenses     610       800  
Other     108       108  
Total other current assets   $ 2,777     $ 2,694  
SCHEDULE OF BASIC AND DILUTED NET LOSS PER SHARE

 

    2022     2021  
    Three Months  
    Ended March 31,  
    2022     2021  
    (unaudited)  
Basic weighted average number of common shares     4,208       4,089  
Potential dilutive effect of stock-based awards     -       -  
Diluted weighted average number of common shares     4,208       4,089  
SCHEDULE OF ANTI-DILUTIVE SECURITIES EXCLUDED FROM COMPUTATION OF EARNINGS PER SHARE

 

    Three Months  
    Ended March 31,  
    2022     2021  
    (unaudited)  
Options     641       1,061  
Restricted stock units (RSUs)     319       395  
Warrants     1,339       1,405  
      2,299       2,861  
SCHEDULE OF IDENTIFIABLE INTANGIBLE ASSETS CARRYING VALUE

 

    (Years)     Amount     Amount  
         

As of March 31, 2022

    

As of December 31, 2021

  
    Life     Carrying     Carrying  
    (Years)     Amount     Amount  
          (unaudited)        
Asuragen acquisition:                  
Thyroid     9     $ 8,519     $ 8,519  
RedPath acquisition:                        
Pancreas test     7       16,141       16,141  
Barrett’s test     9       6,682       6,682  
BioPharma acquisition:                        
Trademarks     10       1,600       1,600  
Customer relationships     8       5,700       5,700  
                                               
CLIA Lab     2.3       609       609  
                         
Total           $ 39,251     $ 39,251  
                         
Accumulated Amortization             (32,500 )     (31,964 )
                         
Net Carrying Value           $ 6,751     $ 7,287  
SCHEDULE OF FUTURE ESTIMATED AMORTIZATION EXPENSE

 

2022     2023     2024     2025     2026  
                           
$ 1,607     $ 1,734     $ 873     $ 873     $ 873  
SCHEDULE OF GOODWILL CARRYING VALUE

The following table displays a roll forward of the carrying amount of goodwill from December 31, 2021 to March 31, 2022:

 

    Carrying  
    Amount  
Balance as of December 31, 2021   $ 8,433  
Adjustments     -  
Balance as of March 31, 2022   $ 8,433  
SCHEDULE OF FINANCIAL INSTRUMENT MEASURED ON RECURRING BASIS

 

    Amount     Value     Level 1     Level 2     Level 3  
    As of March 31, 2022     Fair Value Measurements  
    Carrying     Fair     As of March 31, 2022  
    Amount     Value     Level 1     Level 2     Level 3  
                (unaudited)              
Liabilities:                                        
Contingent consideration:                                        
Asuragen (1)   $ 1,833     $ 1,833     $ -     $ -     $ 1,833  
Other accrued expenses:                                        
Warrant liability (2)     8       8       -       -       8  
Note payable:                                        
BroadOak loan     7,835       7,835       -       -       7,835  
Fair value of liabilities    $ 9,676     $ 9,676     $ -     $ -     $ 9,676  

 

    Amount     Value     Level 1     Level 2     Level 3  
    As of December 31, 2021     Fair Value Measurements  
    Carrying     Fair     As of December 31, 2021  
    Amount     Value     Level 1     Level 2     Level 3  
Liabilities:                                        
Contingent consideration:                                        
Asuragen (1)   $ 1,871     $ 1,871     $ -     $ -     $ 1,871  
Other accrued expenses:                                        
Warrant liability (2)     71       71       -       -       71  
Note payable:                                        
BroadOak loan     7,942       7,942       -       -       7,942  
Fair value of liabilities    $ 9,884     $ 9,884     $ -     $ -     $ 9,884  

 

(1)(2) See Note 9, Accrued Expenses and Long-Term Liabilities
SCHEDULE OF FAIR VALUE, ASSETS MEASURED ON RECURRING BASIS, UNOBSERVABLE INPUT RECONCILIATION

A roll forward of the carrying value of the Contingent Consideration Liability, 2017 Underwriters’ Warrants and BroadOak Loan to March 31, 2022 is as follows:

 

                      Adjustment        
                Accretion/     to Fair Value/        
   

December 31,

2021

     Earned     Interest Accrued     Mark to Market     March 31, 2022  
    (unaudited)  
Asuragen   $ 1,871     $ (159 )   $ 121     $ -     $ 1,833  
                                         
Underwriters Warrants     71       -       -       (63 )     8  
                                         
BroadOak Loan     7,942       -       -       (107 )     7,835  
    $ 9,884     $ (159 )   $ 121     $ (170 )   $ 9,676