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
Jun. 30, 2017
Dec. 31, 2016
Current assets:    
Cash and cash equivalents $ 12,465 $ 25,742 [1]
Trade and other receivables, net 10,631 566 [1]
Prepaid expenses and other current assets 334 852 [1]
Total current assets 23,430 27,160 [1]
Property and equipment, net 234 1,036 [1]
Other assets 481 481 [1]
Total assets 24,145 28,677 [1]
Current liabilities:    
Accounts payable 3,512 5,689 [1]
Accrued and other liabilities 2,062 4,215 [1]
Accrued restructuring costs 1,020 3,594 [1]
Deferred revenue – current 1,425 899 [1]
Interest bearing obligations – current 13,539 17,855 [1]
Accrued interest on interest bearing obligations – current 125 254 [1]
Total current liabilities 21,683 32,506 [1]
Deferred revenue – non-current 17,255 18,000 [1]
Interest bearing obligations – non-current 14,322 25,312 [1]
Other liabilities – non-current [1]   69
Total liabilities 53,260 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 June 30, 2017 and December 31, 2016, respectively [1]
Common stock, $0.0075 par value, 277,333,332 shares authorized, 7,593,230 and 6,114,145 shares issued and outstanding at June 30, 2017 and December 31, 2016, respectively 57 46 [1]
Additional paid-in capital 1,174,912 1,146,357 [1]
Accumulated deficit (1,204,084) (1,193,613) [1]
Total stockholders’ deficit (29,115) (47,210) [1]
Total liabilities and stockholders’ deficit $ 24,145 $ 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.