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Financials

v3.19.2
Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Jun. 30, 2019
Dec. 31, 2018
CURRENT ASSETS    
Cash and cash equivalents $ 667 $ 161
Accounts receivable 691 777
Other current assets 536 553
Current assets of discontinued operations 24,660 23,421
Total current assets 26,554 24,912
FIXED ASSETS, net of accumulated depreciation 634 497
OTHER ASSETS    
Operating lease right-of-use assets 153  
Restricted cash 350 350
Patents and other intangible assets, net of accumulated amortization 3,126 3,349
Investment in joint venture 92 92
Goodwill 5,963 5,963
Other 243 243
Total other assets 9,927 9,997
Total Assets 37,115 35,406
CURRENT LIABILITIES    
Accounts payable and accrued expenses 2,777 3,100
Obligations under operating leases, current portion 207  
Obligations under finance leases, current portion 36  
Obligations under finance leases, current portion   20
Deferred revenue 1,622 1,215
Convertible note, net 3,101 2,481
Advance from NovellusDx, Ltd., net 1,500 535
Other derivatives 0 86
Current liabilities of discontinued operations 22,665 20,742
Total current liabilities 31,908 28,179
Obligations under finance leases, less current portion 140  
Obligations under finance leases, less current portion   23
Obligations under operating leases, less current portion 78  
Deferred rent payable and other 0 154
Warrant liability 49 248
Total Liabilities 32,175 28,604
COMMITMENTS AND CONTINGENCIES
STOCKHOLDERS’ EQUITY    
Preferred stock, authorized 9,764 shares, $0.0001 par value, none issued 0 0
Common stock, authorized 100,000 shares, $0.0001 par value, 57,816 and 27,726 shares issued and outstanding at June 30, 2019 and December 31, 2018, respectively 6 3
Additional paid-in capital 171,021 164,455
Accumulated other comprehensive income 19 60
Accumulated deficit (166,106) (157,716)
Total Stockholders’ Equity 4,940 6,802
Total Liabilities and Stockholders’ Equity $ 37,115 $ 35,406
v3.19.2
Condensed Consolidated Statements of Operations and Other Comprehensive Loss (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Income Statement [Abstract]        
Revenue $ 1,525 $ 1,281 $ 3,347 $ 2,708
Cost of revenues 725 875 1,719 1,633
Gross profit 800 406 1,628 1,075
Operating expenses:        
Research and development 7 16 15 31
General and administrative 1,266 1,464 3,173 3,384
Sales and marketing 322 386 514 612
Total operating expenses 1,595 1,866 3,702 4,027
Loss from continuing operations (795) (1,460) (2,074) (2,952)
Other income (expense):        
Interest expense (514) (2) (1,129) (5)
Interest income 0 0 2 21
Change in fair value of acquisition note payable 7 64 7 81
Change in fair value of other derivatives 55 0 86 0
Change in fair value of warrant liability 206 2,154 199 2,846
Other expense (11) (23) (11) (23)
Total other income (expense) (257) 2,193 (846) 2,920
Income (loss) before income taxes (1,052) 733 (2,920) (32)
Income tax benefit (512) 0 (512) 0
Income (loss) from continuing operations (540) 733 (2,408) (32)
Loss from discontinuing operations (3,233) (4,366) (5,982) (8,057)
Net loss (3,773) (3,633) (8,390) (8,089)
Foreign currency translation gain (loss) 35 85 (41) 65
Comprehensive loss $ (3,738) $ (3,548) $ (8,431) $ (8,024)
Basic and diluted net income (loss) per share from continuing operations (usd per share) $ (0.01) $ 0.03 $ (0.05) $ 0.00
Basic and diluted net loss per share from discontinuing operations (usd per share) (0.06) (0.16) (0.11) (0.30)
Basic and diluted net loss per share (usd per share) $ (0.07) $ (0.13) $ (0.16) $ (0.30)
Basic and diluted weighted-average shares outstanding (in shares) 57,164 27,049 53,049 27,049
v3.19.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
CASH FLOWS FROM OPERATING ACTIVITIES    
Net loss $ (8,390) $ (8,089)
Loss from discontinuing operations 5,982 8,057
Income (loss) from continuing operations (2,408) (32)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 29 77
Amortization 223 258
Stock-based compensation 260 542
Change in fair value of warrant liability, acquisition note payable and other derivatives (292) (2,927)
Amortization of discount of debt and debt issuance costs 470 0
Interest added to Convertible Note 268 0
Modification of 2017 Debt warrants 0 83
Loss in equity-method investment 0 3
Loss on extinguishment of debt 256 0
Changes in:    
Accounts receivable 85 (43)
Other current assets (61) 65
Operating lease right-of-use assets 85  
Other non-current assets 0 6
Accounts payable, accrued expenses and deferred revenue 306 201
Obligations under operating leases (107)  
Deferred rent payable and other 0 (23)
Net cash used in operating activities, continuing operations (886) (1,790)
Net cash used in operating activities, discontinuing operations (3,974) (6,311)
Net cash used in operating activities (4,860) (8,101)
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchase of fixed assets (21) (4)
Net cash used in investing activities, continuing operations (21) (4)
Net cash provided by (used in) investing activities, discontinuing operations (34) 963
Net cash provided by (used in) investing activities (55) 959
CASH FLOWS FROM FINANCING ACTIVITIES    
Principal payments on obligations under finance leases (12)  
Principal payments on obligations under finance leases   (27)
Proceeds from offerings of common stock, net of certain offering costs 5,412 0
Net cash provided by (used in) financing activities, continuing operations 5,400 (27)
Net cash provided by (used in) financing activities, discontinuing operations 62 (832)
Net cash provided by (used in) financing activities 5,462 (859)
Effect of foreign exchange rates on cash and cash equivalents and restricted cash (41) 61
Net increase (decrease) in cash and cash equivalents and restricted cash 506 (7,940)
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH    
Beginning 511 9,891
Ending 1,017 1,951
SUPPLEMENTAL CASH FLOW DISCLOSURE    
Cash paid for interest 694 638
SUPPLEMENTAL DISCLOSURE OF NONCASH INVESTING AND FINANCING ACTIVITIES    
Fixed assets acquired through capital lease arrangement 145 0
Conversion of debt and accrued interest into common stock 350 0
Increase in fair value of embedded conversion option 547  
Fair value of warrants reclassified from liabilities to equity $ 0 $ 423

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