Annual report pursuant to Section 13 and 15(d)

Summary of Significant Accounting Policies (Tables)

v3.20.1
Summary of Significant Accounting Policies (Tables)
 12 Months Ended
Dec. 31, 2019
Accounting Policies [Abstract]  
Summary of Components of Marketable Securities

The following is a summary of the components of our marketable securities and the underlying fair value input level tier hierarchy (see long-lived assets below) (in thousands):

 

    As of December 31, 2019  
    Amortized     Unrealized     Fair  
    Cost     Losses     Value  
U.S treasuries   $ 125     $ -     $ 125  
Corporate bonds     803       (2 )     801  
    $ 928     $ (2 )   $ 926  

 

    As of December 31, 2018  
    Amortized     Unrealized     Fair  
    Cost     Losses     Value  
U.S treasuries   $ 2,401     $ (3 )   $ 2,398  
Corporate bonds     4,310       (21 )     4,289  
    $ 6,711     $ (24 )   $ 6,687  

Schedule of Components of Inventory

The components of inventory are as follows (in thousands):

 

    December 31,     December 31,  
    2019     2018  
Raw materials   $ 1,024     $ 1,374  
Work in process     299       371  
Finished goods     136       158  
    $ 1,459     $ 1,903  

Schedule of Fair Value of Financial Instruments

We account for our marketable securities at fair value pursuant to Accounting Standards Codification, or ASC, 820-10, with the net unrealized gains or losses reported as a component of accumulated other comprehensive income or loss.

 

    As of December 31, 2019  
    Level 1     Level 2     Level 3     Total  
Marketable debt securities                                
U.S. government obligations   $ -     $ 125     $ -     $ 125  
Corporate obligations     -       801       -       801  
    $ -     $ 926     $ -     $ 926  

 

    As of December 31, 2018  
    Level 1     Level 2     Level 3     Total  
Marketable debt securities                                
U.S. government obligations   $ -     $ 2,398     $ -     $ 2,398  
Corporate obligations     -       4,289       -       4,289  
    $ -     $ 6,687     $ -     $ 6,687  

Schedule of Deferred Revenue

The following table disaggregates the Company’s deferred revenue by recognition period (in thousands):

 

Recognition Period   Deferred Revenue  
0-12 Months   $ 104  
13-24 Months     49  
Over 24 Months     61  
Total   $ 214  

Schedule of Disaggregation by Revenue

The following table disaggregates the Company’s revenue by revenue source for Fiscal 2019 and 2018 (in thousands):

 

    For the Years Ended  
Revenue by Customer Type   December 31, 2019     December 31, 2018  
Contract manufacturing   $ 8,974     $ 12,633  
Retail and others     902       493  
Total revenue   $ 9,876     $ 13,126