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RESTATEMENT (Tables) | 9 Months Ended
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Sep. 30, 2018
Accounting Changes and Error Corrections [Abstract] |
Summary of Restatements | Consolidated Balance Sheet as of September 30, 2018:
(In thousands) | As Originally Reported |  | Adjustments |  | As Restated
ASSETS |  |  |  |  |
Current assets: |  |  |  |  |
Cash and cash equivalents | $ | 40,663 |  |  | $ | — |  |  | $ | 40,663 |
Short term investments | 55,480 |  |  | — |  |  | 55,480 |
Trade accounts receivable, net | 4,080 |  |  | 59 |  |  | 4,139 |
Inventories, net | 6,037 |  |  | — |  |  | 6,037 |
Prepaid expenses and other current assets | 627 |  |  | — |  |  | 627 |
Total current assets | 106,887 |  |  | 59 |  |  | 106,946 |
Property and equipment, net | 5,842 |  |  | — |  |  | 5,842 |
Purchased technology and license rights, net | 32 |  |  | — |  |  | 32 |
Goodwill | 185 |  |  | — |  |  | 185 |
Deposits | 46 |  |  | — |  |  | 46 |
Other assets | 122 |  |  | — |  |  | 122 |
Total assets | $ | 113,114 |  |  | $ | 59 |  |  | $ | 113,173 |
LIABILITIES AND STOCKHOLDERS’ EQUITY |  |  |  |  |
Current liabilities: |  |  |  |  |
Accounts payable | $ | 2,348 |  |  | $ | — |  |  | $ | 2,348 |
Accrued severance and related | 95 |  |  | — |  |  | 95 |
Accrued payroll | 163 |  |  | — |  |  | 163 |
Accrued expenses and other current liabilities | 19,066 |  |  | 764 |  |  | 19,830 |
Total current liabilities | 21,672 |  |  | 764 |  |  | 22,436 |
Related party note payable | 140 |  |  | — |  |  | 140 |
Total liabilities | 21,812 |  |  | 764 |  |  | 22,576 |
STOCKHOLDERS' EQUITY |  |  |  |  |
Common stock, $0.001 par value; 75,000,000 shares authorized; 33,763,019 issued and 33,620,444 outstanding | 33 |  |  | — |  |  | 33 |
Additional paid-in capital | 51,798 |  |  | — |  |  | 51,798 |
Retained earnings | 39,471 |  |  | (705 | ) |  | 38,766 |
Total stockholders’ equity | 91,302 |  |  | (705 | ) |  | 90,597 |
Total liabilities and stockholders’ equity | $ | 113,114 |  |  | $ | 59 |  |  | $ | 113,173 |
Consolidated Statement of Operations for the three months ended September 30, 2018:
(In thousands) | As Originally Reported |  | Adjustments |  | As Restated
Sales | $ | 3,672 |  |  | $ | — |  |  | $ | 3,672 |
Cost of sales | 1,151 |  |  | — |  |  | 1,151 |
Gross profit | 2,521 |  |  | — |  |  | 2,521 |
Other costs and expenses: |  |  |  |  |
Research and development | 613 |  |  | — |  |  | 613 |
Professional services | 628 |  |  | — |  |  | 628 |
Salaries and related costs | 2,119 |  |  | 51 |  |  | 2,170 |
Selling, general and administrative | 1,957 |  |  | (59 | ) |  | 1,898 |
Total other costs and expenses | 5,317 |  |  | (8 | ) |  | 5,309 |
Loss from operations | (2,796 | ) |  | 8 |  |  | (2,788 | )
Interest income (expense), net | 105 |  |  | — |  |  | 105 |
Other losses | (155 | ) |  | (713 | ) |  | (868 | )
Total other losses, net | (50 | ) |  | (713 | ) |  | (763 | )
Loss from continuing operations before income taxes | (2,846 | ) |  | (705 | ) |  | (3,551 | )
Income tax benefit | (2,408 | ) |  | — |  |  | (2,408 | )
Net loss from continuing operations | (438 | ) |  | (705 | ) |  | (1,143 | )
Income from discontinued operations, net of tax | 540 |  |  | — |  |  | 540 |
Gain on sale of the Core Business, net of tax | 69,072 |  |  | — |  |  | 69,072 |
Total income from discontinued operations, net of tax | 69,612 |  |  | — |  |  | 69,612 |
Net income (loss) | $ | 69,174 |  |  | $ | (705 | ) |  | $ | 68,469 |
Loss per share from continuing operations |  |  |  |  |
Basic and Diluted | $ | (0.01 | ) |  | $ | (0.02 | ) |  | $ | (0.03 | )
Income per share from discontinued operations |  |  |  |  |
Basic | 2.09 |  |  | — |  |  | 2.09 |
Diluted | 1.99 |  |  | — |  |  | 1.99 |
Income (loss) per share from all operations |  |  |  |  |
Basic | 2.08 |  |  | (0.02 | ) |  | 2.06 |
Diluted | 1.98 |  |  | (0.02 | ) |  | 1.96 |
Weighted average number of shares outstanding basic | 33,275 |  |  | 33,275 |  |  | 33,275 |
Weighted average number of shares outstanding diluted | 34,934 |  |  | 34,934 |  |  | 34,934 |
Consolidated Statement of Operations for the nine months ended September 30, 2018:
(In thousands) | As Originally Reported |  | Adjustments |  | As Restated
Sales | $ | 10,760 |  |  | $ | — |  |  | $ | 10,760 |
Cost of sales | 3,490 |  |  | — |  |  | 3,490 |
Gross profit | 7,270 |  |  | — |  |  | 7,270 |
Other costs and expenses: |  |  |  |  |
Research and development | 1,890 |  |  | — |  |  | 1,890 |
Professional services | 1,815 |  |  | — |  |  | 1,815 |
Salaries and related costs | 5,734 |  |  | 51 |  |  | 5,785 |
Selling, general and administrative | 6,280 |  |  | (59 | ) |  | 6,221 |
Total other costs and expenses | 15,719 |  |  | (8 | ) |  | 15,711 |
Loss from operations | (8,449 | ) |  | 8 |  |  | (8,441 | )
Interest income (expense), net | 33 |  |  | — |  |  | 33 |
Other losses | (155 | ) |  | (713 | ) |  | (868 | )
Change in fair value of derivative liabilities | 20 |  |  | — |  |  | 20 |
Total other losses, net | (102 | ) |  | (713 | ) |  | (815 | )
Loss from continuing operations before income taxes | (8,551 | ) |  | (705 | ) |  | (9,256 | )
Income tax benefit | (2,384 | ) |  | — |  |  | (2,384 | )
Net loss from continuing operations | (6,167 | ) |  | (705 | ) |  | (6,872 | )
Income from discontinued operations, net of tax | 5,062 |  |  | — |  |  | 5,062 |
Gain on sale of the Core Business, net of tax | 69,072 |  |  | — |  |  | 69,072 |
Total income from discontinued operations, net of tax | 74,134 |  |  | — |  |  | 74,134 |
Net income (loss) | $ | 67,967 |  |  | $ | (705 | ) |  | $ | 67,262 |
Loss per share from continuing operations |  |  |  |  |
Basic and Diluted | $ | (0.19 | ) |  | $ | (0.02 | ) |  | $ | (0.21 | )
Income per share from discontinued operations |  |  |  |  |
Basic | 2.25 |  |  | — |  |  | 2.25 |
Diluted | 2.19 |  |  | — |  |  | 2.19 |
Income (loss) per share from all operations |  |  |  |  |
Basic | 2.06 |  |  | (0.02 | ) |  | 2.04 |
Diluted | 2.00 |  |  | (0.02 | ) |  | 1.98 |
Weighted average number of shares outstanding basic | 33,014 |  |  | 33,014 |  |  | 33,014 |
Weighted average number of shares outstanding diluted | 33,952 |  |  | 33,952 |  |  | 33,952 |

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- Definition Tabular disclosure of prior period adjustments to previously issued financial statements including (1) the effect of the correction on each financial statement line item and any per-share amounts affected for each prior period presented (2) the cumulative effect of the change on retained earnings or other appropriate components of equity or net assets in the statement of financial position, as of the beginning of the earliest period presented, and (3) the effect of the prior period adjustments (both gross and net of applicable income tax) on the net income of each prior period presented in the entity's annual report for the year in which the adjustments are made. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22663-107794 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22644-107794 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22658-107794 + Details
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