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v3.22.2.2

Shareholders' Equity | 9 Months Ended
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Sep. 30, 2022
Shareholders' Equity |
Shareholders' Equity | 8. Shareholders' Equity
|  | Three months ended September 30, |  |  | Nine months ended September 30, |
|  | 2022 |  |  | 2021 |  |  | 2022 |  |  | 2021 |
Common stock and additional paid-in capital |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Balance, beginning of period |  | $ | 74,885 |  |  | $ | 63,450 |  |  | $ | 72,817 |  |  | $ | 63,378 |
Issuance of common stock and warrants, net |  |  | — |  |  |  | 9,288 |  |  |  | 2,000 |  |  |  | 9,288 |
Share-based compensation expense |  |  | 24 |  |  |  | 35 |  |  |  | 90 |  |  |  | 100 |
Proceeds from employee stock purchase plan |  |  | 1 |  |  |  | 5 |  |  |  | 3 |  |  |  | 12 |
Balance, end of period |  | $ | 74,910 |  |  | $ | 72,778 |  |  | $ | 74,910 |  |  | $ | 72,778 |
Accumulated other comprehensive loss |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Balance, beginning of period |  | $ | (266 | ) |  | $ | (213 | ) |  | $ | (241 | ) |  | $ | (186 | )
Unrealized loss on available-for-sale securities, net of tax |  |  | — |  |  |  | (8 | ) |  |  | (2 | ) |  |  | (13 | )
Foreign currency translation adjustment |  |  | (22 | ) |  |  | (4 | ) |  |  | (45 | ) |  |  | (26 | )
Balance, end of period |  | $ | (288 | ) |  | $ | (225 | ) |  | $ | (288 | ) |  | $ | (225 | )
Accumulated deficit |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Balance, beginning of period |  | $ | (23,296 | ) |  | $ | (16,619 | ) |  | $ | (21,072 | ) |  | $ | (13,378 | )
Net loss |  |  | (1,248 | ) |  |  | (2,169 | ) |  |  | (3,472 | ) |  |  | (5,410 | )
Balance, end of period |  | $ | (24,544 | ) |  | $ | (18,788 | ) |  | $ | (24,544 | ) |  | $ | (18,788 | )
Total shareholders' equity |  | $ | 50,078 |  |  | $ | 53,765 |  |  | $ | 50,078 |  |  | $ | 53,765 |
Issue of Common Stock and Warrants On September 13, 2020, the Company entered into a securities purchase agreement with certain purchasers named therein, pursuant to which the Company issued and sold in a registered direct offering 2,116,050 shares of the Company's common stock, par value $0.001 per share at an offering price of $2.4925 per share. The Company received gross proceeds of approximately $5,275 and net proceeds $4,764 after deducting placement agent fees and related offering expenses. In a concurring private placement, the Company also issued to the same purchasers warrants exercisable for an aggregate of 1,058,025 shares of common stock at an exercise price of $2.43 per share. Each warrant became immediately exercisable and will expire five years from the issuance date. On September 12, 2021, the Company entered into a securities purchase agreement with certain purchasers named therein, pursuant to which the Company issued 3,623,189 shares of the Company's common stock, par value $0.001 per share at an offering price of $2.76 per share. The Company received gross proceeds of approximately $10,000 and net proceeds of $9,288 after deducting placement agent fees and related offering expenses. In a concurring private placement the Company also issued to the same purchasers warrants exercisable for an aggregate of 3,623,189 shares of common stock at an exercise price of $2.76 per share. Each warrant became immediately exercisable and will expire on March 15, 2027. On January 4, 2022, the Company entered into a Securities Purchase Agreement with Edward D. Bagley, an affiliate of the Company, pursuant to which the Company agreed to issue and sell, in a private placement 1,538,461 shares (the “Shares”) of the Company’s common stock, par value $0.001 per share, at a purchase price of $1.30 per share of Common Stock. The consideration for the Shares is the cancellation and termination of Mr. Bagley’s outstanding bridge loan to the Company in the principal amount of $2,000 originally issued on July 2, 2021 and amended and restated on September 11, 2021. Mr. Bagley is an affiliate of the Company and the Company’s single largest stockholder.

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