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, 2017
Dec. 31, 2016
Current assets:    
Cash and cash equivalents $ 20,045 $ 25,742 [1]
Trade and other receivables, net 1,343 566 [1]
Prepaid expenses and other current assets 264 852 [1]
Total current assets 21,652 27,160 [1]
Property and equipment, net 396 1,036 [1]
Other assets 481 481 [1]
Total assets 22,529 28,677 [1]
Current liabilities:    
Accounts payable 4,176 5,689 [1]
Accrued and other liabilities 2,173 4,215 [1]
Accrued restructuring costs 1,793 3,594 [1]
Deferred revenue – current 1,381 899 [1]
Interest bearing obligations – current 12,544 17,855 [1]
Accrued interest on interest bearing obligations – current 178 254 [1]
Total current liabilities 22,245 32,506 [1]
Deferred revenue – non-current 17,408 18,000 [1]
Interest bearing obligations – non-current 14,085 25,312 [1]
Other liabilities – non-current [1]   69
Total liabilities 53,738 75,887 [1]
Commitments and Contingencies (Note 10) [1]
Stockholders’ deficit:    
Preferred stock, $0.05 par value, 1,000,000 shares authorized, 5,003 and 0 shares issued and outstanding as of March 31, 2017 and December 31, 2016, respectively [1]
Common stock, $0.0075 par value, 277,333,332 shares authorized, 7,585,629 and 6,114,145 shares issued and outstanding at March 31, 2017 and December 31, 2016, respectively 57 46 [1]
Additional paid-in capital 1,173,104 1,146,357 [1]
Accumulated deficit (1,204,370) (1,193,613) [1]
Total stockholders’ deficit (31,209) (47,210) [1]
Total liabilities and stockholders’ deficit $ 22,529 $ 28,677 [1]
[1] The condensed consolidated balance sheet as of December 31, 2016 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, 2016.