Annual report pursuant to Section 13 and 15(d)

Summary of Significant Accounting Policies (Tables)

v3.19.1
Summary of Significant Accounting Policies (Tables)
 12 Months Ended
Dec. 31, 2018
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, 2018  
    Amortized     Unrealized     Market  
    Cost     Losses     Value  
U.S treasuries   $ 2,401     $ (3 )   $ 2,398  
Corporate bonds     4,310       (21 )     4,289  
    $ 6,711     $ (24 )   $ 6,687  

 

    As of December 31, 2017  
    Amortized     Unrealized     Market  
    Cost     Losses     Value  
U.S treasuries   $ 1,744     $ -     $ 1,744  
Corporate bonds     17,099       (78 )     17,021  
    $ 18,843     $ (78 )   $ 18,765  

Components of Inventory

    December 31,     December 31,  
    2018     2017  
Raw materials   $ 1,374     $ 1,269  
Work in process     371       245  
Finished goods     158       17  
    $ 1,903     $ 1,531  

Schedule of Fair Value of Financial Instruments

Cash and cash equivalents, marketable securities, accounts receivable, assets held for sale, accounts payable, and accrued expenses are reflected in the consolidated financial statements at carrying value which approximates fair value. 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, 2018  
    Level 1     Level 2     Level 3     Total  
Marketable securities                                
U.S. government obligations   $ -     $ 2,398     $ -     $ 2,398  
Corporate obligations     -       4,289       -       4,289  
    $ -     $ 6,687     $ -     $ 6,687  

 

    As of December 31, 2017  
    Level 1     Level 2     Level 3     Total  
Marketable securities                                
U.S. government obligations   $ -     $ 1,744     $ -     $ 1,744  
Corporate obligations     -       17,021       -       17,021  
    $ -     $ 18,765     $ -     $ 18,765  

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   $ 184  
13-24 Months     22  
Total   $ 206  

Schedule of Disaggregates by Revenue

The following table disaggregates the Company’s revenue by revenue source for Fiscal 2018 and 2017 (in thousands):

 

    For the Years Ended  
Revenue by Customer Type   December 31, 2018     December 31, 2017  
Contract manufacturing   $ 12,633     $ 9,666  
Retail and others     493       201  
Total revenue   $ 13,126     $ 9,867