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Effects of Adopting ASU Topic 606 | 12 Months Ended
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Dec. 31, 2018
Effects of Adopting ASU Topic 606 [Abstract] |
Effects of Adopting ASU Topic 606 | Note 15 – Effects of Adopting ASU Topic 606 - (in thousands except share and per share amounts) As described in Note 2 – Summary of Significant Accounting Policies, we account for revenue in accordance with Accounting Standards Update (“ASU”) No.2014-09, Revenue from Contracts with Customers, which we adopted on January 1, 2018 using the modified-retrospective method. The effect of the changes made to the Company’s January 1, 2018 balance sheet as a result of the adoption of Topic 606 were as follows:
BALANCE SHEET HIGHLIGHTS |  | Reported As of December 31, 2017 |  |  | Effects of Adopting Topic 606 |  |  | As of January 1, 2018 |
Current liabilities: |  |  |  |  |  |  |  |  |
Deferred revenue, current portion |  | $ | 1,500 |  |  | $ | (1,500 | ) |  | $ | — |
Total current liabilities |  | $ | 4,482 |  |  | $ | (1,500 | ) |  | $ | 2,982 |
Deferred revenue, non-current portion |  | $ | 1,000 |  |  | $ | (1,000 | ) |  | $ | — |
Total Liabilities |  | $ | 5,622 |  |  | $ | (2,500 | ) |  | $ | 3,122 |
Accumulated deficit |  | $ | (175,516 | ) |  | $ | 2,500 |  |  | $ | (173,016 | )
Total Stockholder’s Equity |  | $ | 1,553 |  |  | $ | 2,500 |  |  | $ | 4,053 |
The impacts of adoption of Topic 606 on the consolidated balance sheet and statement of operations were as follows:
|  | Year Ended December 31, 2018 |
BALANCE SHEET HIGHLIGHTS |  | Pre-Topic 606 |  |  | Effects of Adopting Topic 606 |  |  | (as reported) |
Current liabilities: |  |  |  |  |  |  |  |  |  |  |  |
Deferred revenue, current portion |  | $ | 1,000 |  |  | $ | (1,000 | ) |  | $ | — |
Total current liabilities |  | $ | 2,863 |  |  | $ | (1,000 | ) |  | $ | 1,863 |
Total liabilities |  | $ | 2,863 |  |  | $ | (1,000 | ) |  | $ | 1,863 |
Accumulated deficit |  |  | (199,422 | ) |  |  | 1,000 |  |  |  | (198,422 | )
Total stockholders’ equity |  | $ | 8,888 |  |  | $ | 1,000 |  |  | $ | 9,888 |
|  | Year Ended December 31, 2018 |
INCOME STATEMENT HIGHLIGHTS |  | Pre-Topic 606 |  |  | Effects of Adopting Topic 606 |  |  | (as reported) |
Revenue |  | $ | 1,563 |  |  | $ | (1,500 | ) |  | $ | 63 |
Loss from operations |  |  | (23,957 | ) |  |  | (1,500 | ) |  |  | (25,457 | )
Loss before taxes |  |  | (23,903 | ) |  |  | (1,500 | ) |  |  | (25,403 | )
Net loss |  | $ | (23,906 | ) |  | $ | (1,500 | ) |  | $ | (25,406 | )
Basic and diluted loss per share |  | $ | (0.38 | ) |  | $ | (0.02 | ) |  | $ | (0.40 | )
Weighted average shares outstanding basic and diluted |  |  | 62,985,763 |  |  |  | 62,985,763 |  |  |  | 62,985,763 |
The adoption of Topic 606 had no impact on net cash used in operating activities.

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- Definition The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -URI http://asc.fasb.org/topic&trid=49130388 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -URI http://asc.fasb.org/topic&trid=2122369 + Details
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