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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 15,120 $ 25,660
Prepaid expenses and other current assets 2,132 2,050
Total current assets 17,252 27,710
Property and equipment, net 0 0
Other 243 490
Total assets 17,495 28,200
Current liabilities:    
Accounts payable 5,656 6,431
Accrued expenses 8,204 9,182
Current portion of convertible notes payable and accrued interest, net of debt discounts - related party (Note 5) 21,117 0
Current portion of derivative liabilities (Note 6) 369 0
Accrued dividends payable 63 63
Total current liabilities 35,409 15,676
Convertible notes payable and accrued interest, net of debt discounts - related party (Note 5) 10,733 30,902
Derivative liabilities (Note 6) 47 1,004
Borrowing and accrued interest under convertible line of credit, net of debt discount - related party (Note 10) 74,376 40,839
Other liabilities 0 20
Total liabilities 120,565 88,441
Commitments and contingencies (Note 12)
Series C 6% super dividend redeemable convertible preferred stock; 1,000 shares authorized, 176 issued and outstanding at December 31, 2024 and 2023, redemption value: $8,018,000, liquidation value: $1,760,000 at December 31, 2024 1,723 1,723
Stockholders' equity (deficit):    
Undesignated stock, $0.01 par value; 20,000,000 shares authorized at December 31, 2024 and 2023, 20,000,000 shares designated at December 31, 2024 and 2023, respectively 0 0
Series A 12% convertible preferred stock; 1,742,500 shares authorized, 1,235,000 and 1,235,000 issued and outstanding at December 31, 2024 and 2023, respectively, liquidation value $1,235,000 at December 31, 2024 500 500
Common stock, $0.001 par value; 150,000,000 shares authorized at December 31, 2024 and 2023, 63,157,235 and 61,852,914 issued and outstanding at December 31, 2024 and 2023, respectively 62 61
Additional paid-in capital 296,217 291,847
Retained deficit (401,572) (354,372)
Total stockholders' deficit (104,793) (61,964)
Total liabilities, redeemable convertible preferred stock and stockholders' deficit $ 17,495 $ 28,200