Your Internet Defender, Inc

CIK:0001528557|SEC Filings

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Income Statement [Abstract]
Revenue	$ 4,575	$ 1,665	$ 7,611	$ 3,150
Cost of revenue	2,778	2,151	5,192	4,080
Gross profit (loss)	1,797	(486)	2,419	(930)
Operating expenses:
Research and development	3,719	2,000	6,595	4,135
Selling, general and administrative	8,373	6,874	15,520	14,329
Restructuring charge		349		349
Total operating expense	12,092	9,223	22,115	18,813
Operating loss	(10,295)	(9,709)	(19,696)	(19,743)
Other income (expense)
Interest expense	(556)	(383)	(967)	(452)
Interest income	192	66	333	91
Warrant revaluation		70		100
Other, net	(2)	47	(8)	45
Total other income (expense), net	(366)	(200)	(642)	(216)
Net loss	(10,661)	(9,909)	(20,338)	(19,959)
Accretion of beneficial conversion feature of Series A and Series A-1 preferred stock	(510)		(510)	(5,236)
Dividends on preferred stock	(751)	(753)	(1,498)	(878)
Net loss attributable to common stockholders	$ (11,922)	$ (10,662)	$ (22,346)	$ (26,073)
Net loss per share attributed to common stockholders--basic and diluted (in dollars per share)	$ (0.06)	$ (0.06)	$ (0.11)	$ (0.14)
Weighted-average common shares used in computing net loss per share attributable to common stockholders--basic and diluted (in shares)	207,121,077	188,833,877	201,935,302	188,802,720
Comprehensive loss	$ (10,661)	$ (9,909)	$ (20,338)	$ (19,959)

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Operating activities
Net loss	$ (20,338)	$ (19,959)
Adjustments to reconcile net loss to net cash flows used in operating activities:
Depreciation and amortization	398	331
Stock-based compensation expense	2,321	1,311
Accretion of interest expense	285	116
Write down of inventories		317
Warrant liability revaluation		(100)
Loss on disposal of property and equipment		59
Changes in operating assets and liabilities:
Accounts receivable	(218)	1,043
Prepaid expenses and other current assets	(488)	(229)
Inventories	569	(1,397)
Operating lease right-of use asset, deposits and other assets	(12)	4
Accounts payable, accrued expenses and other liabilities	1,068	(698)
Customer deposits		(93)
Deferred revenue	304	151
Net cash used in operating activities	(16,111)	(19,144)
Investing activities
Purchase of property and equipment	(254)	(338)
Net cash used in investing activities	(254)	(338)
Financing activities
Proceeds from issuance of common stock, net of issuance costs	21,130
Proceeds from issuance of long term debt and warrants, net of deferred financing costs and discounts	2,732	11,626
Proceeds from issuance of Series A preferred stock and warrants, net of issuance costs		24,671
Proceeds from exercise of stock options	620	65
Payments on finance lease liability	(27)	(23)
Net cash provided by financing activities	24,455	36,339
Net increase in cash and cash equivalents	8,090	16,857
Cash and cash equivalents at beginning of period	23,849	17,458
Cash and cash equivalents at end of period	31,939	34,315
Supplemental Disclosure of Cash Flow Information:
Accrued dividends on Series A preferred stock	626	618
Fair value of warrants issued with long-term debt	440	210
Interest paid	666	286
Financing costs included in accounts payable and accrued expenses	82
Issuance of Series A-1 preferred stock as dividends on Series A preferred stock	872	260
Transfer from inventories to property and equipment in the field	140	382
Fair value of warrants issued with Series A preferred stock		$ 4,162
Deferred offering costs in accounts payable and accrued expenses	$ 179

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Current Assets:
Cash and cash equivalents	$ 31,939	$ 23,849
Accounts receivable	4,817	4,599
Inventories	1,799	2,508
Prepaid expenses and other current assets	1,114	447
Total current assets	39,669	31,403
Property and equipment, net	1,798	1,779
Operating lease right-of-use assets	909
Deposits and other assets	312	343
Total assets	42,688	33,525
Current Liabilities:
Accounts payable	3,791	3,591
Accrued expenses	4,379	3,292
Deferred revenue	825	662
Current portion of long-term debt	3,539	1,011
Current portion of operating lease liabilites	601
Current portion of financial lease liability	60	56
Total current liabilities	13,195	8,612
Long-term Liabilities
Deferred revenue, net of current portion	426	285
Long-term debt, net of current portion	10,823	10,774
Long-term operating lease liabilities, net of current portion	391
Long-term finance lease liability, net of current portion	15	46
Other liabilities		62
Total long-term liabilities	11,655	11,167
Total liabilities	24,850	19,779
Preferred stock:
Total preferred stock	24,450	22,952
Stockholders' equity (deficit):
Preferred stock, $0.0001 par value; 10,000,000 shares authorized; 2,000,000 shares designated at June 30, 2019 and December 31, 2018	0	0
Common stock, $0.0001 par value; 350,000,000 shares authorized; 208,012,466 and 191,731,152 shares issued and outstanding at June 30, 2019 and December 31, 2018, respectively	21	19
Additional paid-in capital	229,095	206,165
Accumulated deficit	(235,728)	(215,390)
Total stockholders' equity (deficit)	(6,612)	(9,206)
Total liabilities, preferred stock and stockholders' equity (deficit)	42,688	33,525
Series A Preferred Stock [Member]
Preferred stock:
Total preferred stock	20,564	20,564
Series A-1 Preferred Stock [Member]
Preferred stock:
Total preferred stock	$ 3,886	$ 2,388