Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited)

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CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) - USD ($)
$ in Thousands
Mar. 31, 2018
Dec. 31, 2017
Current assets:    
Cash and cash equivalents $ 41,968 $ 43,471 [1]
Trade and other receivables 436 397 [1]
Prepaid expenses and other current assets 273 327 [1]
Total current assets 42,677 44,195 [1]
Property and equipment, net 75 83 [1]
Other assets 559 657 [1]
Total assets 43,311 44,935 [1]
Current liabilities:    
Accounts payable 1,420 1,679 [1]
Accrued and other liabilities 1,338 2,675 [1]
Income taxes payable 1,666 1,637 [1]
Unearned revenue recognized under units-of-revenue method – current 658 615 [1]
Contract liabilities 798 798 [1]
Accrued interest on long-term debt – current [1]   18
Total current liabilities 5,880 7,422 [1]
Unearned revenue recognized under units-of-revenue method – non-current 17,019 17,123 [1]
Long-term debt 14,572 14,572 [1]
Other liabilities – non-current 203 32 [1]
Total liabilities 37,674 39,149 [1]
Commitments and Contingencies (Note 10) [1]
Stockholders’ equity:    
Convertible preferred stock, $0.05 par value, 1,000,000 shares authorized, 5,003 shares issued and outstanding at March 31, 2018 and December 31, 2017 [1]
Common stock, $0.0075 par value, 277,333,332 shares authorized, 8,332,118 and 8,249,158 shares issued and outstanding at March 31, 2018 and December 31, 2017, respectively 62 62 [1]
Additional paid-in capital 1,188,440 1,184,783 [1]
Accumulated deficit (1,182,865) (1,179,059) [1]
Total stockholders’ equity 5,637 5,786 [1]
Total liabilities and stockholders’ equity $ 43,311 $ 44,935 [1]
[1] The condensed consolidated balance sheet as of December 31, 2017 has been derived from the audited consolidated financial statements as of that date included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2017.