EDIETS COM INC

CIK:0001094058|SEC Filings

Discontinued Operations (Tables)

9 Months Ended

Sep. 30, 2012

Income Statement [Member]

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Summary of revenue and income, assets and liabilities from discontinued operations


	Three months ended September 30,				Nine months ended September 30,
	2012		2011		2012		2011
Revenue	$	57	$	223	$	408	$	938
Income from discontinued operations before gain on sale, net of tax		13		38		36		362
Gain on sale of assets, net of tax		346		—		346		—

Balance Sheets [Member]

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Summary of revenue and income, assets and liabilities from discontinued operations


	September 30, 2012		December 31, 2011
Accounts receivable, net	$	—	$	119
Prepaid expenses and other current assets		—		1

Current assets held for sale	$	—	$	120

Accounts payable	$	—	$	8
Accrued liabilities		—		16
Deferred revenue		—		60

Current liabilities held for sale	$	—	$	84

Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $) In Thousands, unless otherwise specified	9 Months Ended
	Sep. 30, 2012	Sep. 30, 2011
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (2,503)	$ (2,737)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation	207	513
Amortization of intangibles and other assets	8	10
Provision for (recovery of) bad debt	25	(10)
Stock-based compensation	386	1,136
Non-cash severance charges		67
Lease termination costs	725
Gain on sale of Nutrio assets	(346)
Changes in operating assets and liabilities
Accounts receivable	51	344
Inventory, prepaid expenses and other assets	56	145
Restricted cash	(110)	(80)
Accounts payable and accrued liabilities	594	(629)
Deferred revenue	(237)	(682)
Net cash (used in) provided by operating activities	(1,144)	(1,922)
CASH FLOWS FROM INVESTING ACTIVITIES:
Proceeds received from sale of Nutrio assets	232
Purchases of property and office equipment	(6)	(23)
Net cash used in investing activities	226	(23)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from issuance of common stock under private placement		1,572
Proceeds from issuance of common stock- private placement		1,962
Common stock issuance costs		(305)
Proceeds from notes payable - related party	500
Repayment of capital lease obligations	(2)	(15)
Net cash used in financing activities	498	3,214
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS	(420)	1,269
Cash and cash equivalents, beginning of period	603	468
Cash and cash equivalents, end of period	183	1,737
SUPPLEMENTAL CASH FLOW INFORMATION
Cash paid for interest		$ 2

Condensed Consolidated Balance Sheets (Unaudited) (USD $) In Thousands, unless otherwise specified	Sep. 30, 2012	Dec. 31, 2011
CURRENT ASSETS:
Cash and cash equivalents	$ 183	$ 603
Restricted cash - current	544
Accounts receivable, net	24	26
Inventory	56	70
Prepaid expenses and other current assets	295	344
Current assets held for sale		120
Total current assets	1,102	1,163
Restricted cash - non-current	450	884
Property and office equipment, net	164	598
Intangible assets, net	2	4
Other assets	49	47
Total assets	1,767	2,696
CURRENT LIABILITIES:
Accounts payable	2,252	1,473
Accrued liabilities	373	924
Current portion of capital lease obligations	6	23
Promissory notes - current	148
Deferred revenue	203	538
Related party debt - current	1,500	1,000
Other current liabilities	544
Current liabilities held for sale		84
Total current liabilities	5,026	4,042
Promissory notes - non-current	204
Commitments and contingencies
STOCKHOLDERS' DEFICIT:
Common stock	14	14
Additional paid-in capital	106,796	106,410
Accumulated deficit	(110,283)	(107,780)
Accumulated other comprehensive income	10	10
Total stockholders' deficit	(3,463)	(1,346)
Total liabilities and stockholders' deficit	$ 1,767	$ 2,696