Document and Entity Information
Document and Entity Information - USD ($) | 12 Months Ended | ||
Dec. 31, 2017 | Mar. 31, 2018 | Jun. 30, 2017 | |
Document and Entity Information [Abstract] | |||
Entity Registrant Name | INTERCLOUD SYSTEMS, INC. | ||
Entity Central Index Key | 1,128,725 | ||
Trading Symbol | ICLD | ||
Amendment Flag | true | ||
Amendment Description | InterCloud Systems, Inc., a Delaware corporation (the "Company"), is filing this Form 10-K/A ("Form 10-K/A") to amend its Annual Report on Form 10-K for the year ended December 31, 2017, originally filed with the Securities and Exchange Commission (the "SEC") on April 17, 2018 ("Original Filing"), to restate its consolidated financial statements and related footnote disclosures for the year ended December 31, 2016. Amendment Background The Company received an SEC Comment Letter on October 23, 2018, and as a result of this letter, the Company: (1) Discovered that it inadvertently did not include a consent from its auditors related to the December 31, 2017 financial statements incorporated by reference into Form S-8 filed March 13, 2018. (2) Identified an error related to the weighted average shares outstanding, basic and diluted, for the year ended December 31, 2016. Impact on Financial Statements The error identified above had the following impact on the Company's consolidated financial statements and related footnote disclosures for the year ended December 31, 2016 included in the Original Filing: (1) The error related to the weighted average shares outstanding, basic and diluted, for the year ended December 31, 2016 resulted in an understatement of loss per share attributable to InterCloud Systems, Inc. common stockholders, basic and diluted, for the year ended December 31, 2016. The Company reported 1,049,866 weighted average shares outstanding, basic and diluted, for the year ended December 31, 2016. The correct weighted average shares outstanding, basic and diluted, for the year ended December 31, 2016 was 104,866. The correct net loss per share from continuing operations, net loss per share on discontinued operations, net of taxes, and net loss per share for the year ended December 31, 2016 are $198.45, $54.09, and $252.54, respectively. This has been corrected on the consolidated statement of operations for the year ended December 31, 2016 and in Item 6 - Selected Financial Data. (2) In Note 5, Acquisitions and Disposals of Subsidiaries, the Company discloses pro forma data which reflects the impact of sales that took place during the reported periods. This disclosure includes a pro forma loss per share attributable to InterCloud Systems, Inc. common stockholders, basic and diluted, which has been adjusted to $239.93 based on the correct weighted average shares outstanding, basic and diluted, for the year ended December 31, 2016. No other changes have been made to the Annual Report except as noted above. This Amendment to the Annual Report speaks as of the original filing date of the Annual Report, does not reflect events that may have occurred subsequent to the original filing date, and does not modify or update in any way disclosures made in the original Annual Report except that changes have been made to the cover page and Note 5 - Acquisitions and Disposals of Subsidiaries. In addition, in connection with the restatement, this Amendment reflects the revisions to Item 6 - Selected Financial Data. Otherwise, the Originally Filed Form 10-K is restated herein in its entirety and no other information in the Originally Filed Form 10-K is amended hereby. Disclosures and forward-looking information in this Amendment continue to speak as of the date of the Originally Filed Form 10-K, and do not reflect events occurring after the filing of the Originally Filed Form 10-K. Accordingly, this Amendment should be read in conjunction with our other filings made with the SEC after the filing of the Originally Filed Form 10-K, including any amendments to those filings. | ||
Document Type | 10-K/A | ||
Document Period End Date | Dec. 31, 2017 | ||
Document Fiscal Year Focus | 2,017 | ||
Document Fiscal Period Focus | FY | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Well-Known Seasoned Issuer | No | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Filer Category | Non-accelerated Filer | ||
Entity Small Business | true | ||
Entity Emerging Growth Company | true | ||
Entity Ex Transition Period | false | ||
Entity Shell Company | false | ||
Entity Public Float | $ 14,229,585 | ||
Entity Common Stock, Shares Outstanding | 16,211,816 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Current Assets: | ||
Cash | $ 681 | $ 1,781 |
Accounts receivable, net of allowances of $696 and $412 respectively | 6,234 | 9,856 |
Loans receivable, net of reserves of $924 and $891, respectively | 3,617 | 382 |
Other current assets | 2,724 | 1,633 |
Current assets of discontinued operations | 41 | 4,737 |
Total current assets | 13,297 | 18,389 |
Property and equipment, net | 44 | 346 |
Goodwill | 16,987 | |
Customer lists, net | 1,751 | 4,521 |
Tradenames, net | 908 | 3,178 |
Other intangible assets, net | 256 | |
Cost method investment | 340 | |
Other assets | 116 | 240 |
Non-current assets of discontinued operations | 10,652 | |
Total assets | 16,456 | 54,569 |
Current Liabilities: | ||
Accounts payable | 4,652 | 6,459 |
Accrued expenses | 8,008 | 9,660 |
Deferred revenue | 3,209 | 1,947 |
Income taxes payable | 15 | 53 |
Bank debt, current portion | 114 | 121 |
Notes payable, related parties | 75 | 9,531 |
Contingent consideration | 515 | |
Derivative financial instruments | 3,379 | 1,749 |
Term loans, current portion, net of debt discount | 11,013 | 21,147 |
Current liabilities of discontinued operations | 3,338 | 6,620 |
Total current liabilities | 33,803 | 57,802 |
Long-term Liabilities: | ||
Notes payable, related parties, net of current portion | 8,632 | |
Deferred income taxes | 239 | 1,002 |
Term loans, net of current portion, net of debt discount | 1,058 | 1,860 |
Derivative financial instruments | 16,651 | 1,316 |
Total long-term liabilities | 20,969 | 12,810 |
Total Liabilities | 54,772 | 70,612 |
Commitments and Contingencies (Note 15) | ||
Total temporary equity | 887 | |
Stockholders' Deficit: | ||
Common stock; $0.0001 par value; 1,000,000,000 and 500,000,000 shares authorized; 9,338,286 and 285,193 issued and 9,337,948 and 282,124 outstanding as of December 31, 2017 and 2016, respectively | 92 | 2 |
Common stock warrants, no par | 37 | 1,727 |
Treasury stock, at cost - 338 and 3,069 shares at December 31, 2017 and 2016, respectively | (2) | (1) |
Additional paid-in capital | 154,538 | 130,869 |
Accumulated deficit | (193,319) | (148,983) |
Total InterCloud Systems, Inc. stockholders' deficit | (38,654) | (16,386) |
Non-controlling interest | (549) | 343 |
Total stockholders' deficit | (39,203) | (16,043) |
Total liabilities and stockholders' deficit | 16,456 | 54,569 |
Series J Preferred Stock | ||
Stockholders' Deficit: | ||
Preferred Stock | ||
Series K Preferred Stock | ||
Long-term Liabilities: | ||
Total temporary equity | 735 | |
Series L Preferred Stock | ||
Long-term Liabilities: | ||
Total temporary equity | 152 | |
Series M Preferred Stock | ||
Long-term Liabilities: | ||
Total temporary equity | $ 3,021 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Accounts receivable, allowances | $ 696 | $ 412 |
Loans receivable, net of reserves | $ 924 | $ 891 |
Common stock, par value | $ 0.0001 | $ 0.0001 |
Common stock, shares authorized | 1,000,000,000 | 500,000,000 |
Common stock, shares issued | 9,338,286 | 285,193 |
Common stock, shares outstanding | 9,337,948 | 282,124 |
Treasury stock, shares | 338 | 3,069 |
Series J Preferred Stock | ||
Preferred stock, par value | $ 0.0001 | $ 0.0001 |
Preferred stock, shares authorized | 1,000 | 1,000 |
Preferred stock, shares issued | 1,000 | 0 |
Preferred stock, shares outstanding | 1,000 | 0 |
Series K Preferred Stock | ||
Preferred stock, par value | $ 0.0001 | $ 0.0001 |
Preferred stock, shares authorized | 3,000 | 3,000 |
Preferred stock, shares issued | 1,512 | 0 |
Preferred stock, shares outstanding | 1,512 | 0 |
Series L Preferred Stock | ||
Preferred stock, par value | $ 0.0001 | $ 0.0001 |
Preferred stock, shares authorized | 1,000 | 1,000 |
Preferred stock, shares issued | 227 | 0 |
Preferred stock, shares outstanding | 227 | 0 |
Series M Preferred Stock | ||
Preferred stock, par value | $ 0.0001 | $ 0.0001 |
Preferred stock, shares authorized | 500 | 500 |
Preferred stock, shares issued | 386 | 0 |
Preferred stock, shares outstanding | 386 | 0 |
Consolidated Statements of Oper
Consolidated Statements of Operations - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Statements of Operations [Abstract] | ||
Revenue | $ 34,520 | $ 59,110 |
Cost of revenue | 27,492 | 45,002 |
Gross profit | 7,028 | 14,108 |
Operating expenses: | ||
Depreciation and amortization | 559 | 1,326 |
Salaries and wages | 6,412 | 13,856 |
Selling, general and administrative | 6,966 | 11,443 |
Goodwill impairment charge | 7,992 | |
Intangible asset impairment charge | 1,522 | |
Total operating expenses | 23,451 | 26,625 |
Loss from operations | (16,423) | (12,517) |
Other income (expenses): | ||
Change in fair value of derivative instruments | 3,530 | 17,545 |
Change in fair value of Series M preferred stock | (6) | |
Interest expense | (7,050) | (13,754) |
Gain on conversion of debt | 416 | |
Gain (loss) on extinguishment of debt, net | (8,857) | (9,587) |
Loss on investment in equity method investee | (807) | |
Loss on disposal of subsidiary | (13,061) | (326) |
Other expense | (2,138) | (1,563) |
Total other expense | (27,582) | (8,076) |
Loss from continuing operations before income taxes | (44,005) | (20,593) |
(Benefit from) provision for income taxes | (672) | 207 |
Net loss from continuing operations | (43,333) | (20,800) |
Loss on discontinued operations, net of tax | (1,559) | (5,672) |
Net loss | (44,892) | (26,472) |
Net (loss) income attributable to non-controlling interest | (556) | 11 |
Net loss attributable to InterCloud Systems, Inc. common stockholders | $ (44,336) | $ (26,483) |
Loss per share attributable to InterCloud Systems, Inc. common stockholders, basic and diluted: | ||
Net loss from continuing operations | $ (14.04) | $ (198.45) |
Net loss on discontinued operations, net of taxes | (0.51) | (54.09) |
Net loss per share | $ (14.55) | $ (252.54) |
Weighted average common shares outstanding, basic and diluted | 3,046,643 | 104,866 |
Consolidated Statements of Stoc
Consolidated Statements of Stockholders' Deficit - USD ($) $ in Thousands | Total | Common Stock | Common Stock Warrants | Series J Preferred Stock | Treasury Stock | Additional Paid-in Capital | Accumulated Deficit | Non-Controlling Interest |
Balance at Jan. 01, 2016 | $ (4,200) | $ 3 | $ 259 | $ 117,706 | $ (122,500) | $ 332 | ||
Balance (Shares) at Jan. 01, 2016 | 72,582 | 477 | 1,072 | |||||
Issuance of shares pursuant to bridge financing agreement | 320 | 320 | ||||||
Issuance of shares pursuant to bridge financing agreement, Shares | 1,250 | |||||||
Issuance of common stock to employees and directors for services | ||||||||
Issuance of common stock to employees and directors for services, Shares | 5,111 | |||||||
Issuance of common stock to non-employees for services | 189 | 189 | ||||||
Issuance of common stock to non-employees for services, Shares | 1,387 | |||||||
Issuance of common stock to employee for incentive earned | 50 | 50 | ||||||
Issuance of common stock to employee for incentive earned, Shares | 347 | |||||||
Issuance of common stock pursuant to acquisition of assets of SDN Essentials, LLC | 1,040 | 1,040 | ||||||
Issuance of common stock pursuant to acquisition of assets of SDN Essentials, LLC, Shares | 2,625 | |||||||
Issuance of common stock pursuant to acquisition of assets of 8760 Enterprises | 135 | 135 | ||||||
Issuance of common stock pursuant to acquisition of assets of 8760 Enterprises, Shares | 2,250 | |||||||
Issuance of common stock pursuant to promissory notes | 3,083 | 3,083 | ||||||
Issuance of common stock pursuant to promissory notes, Shares | 78,326 | |||||||
Issuance of common stock pursuant to Forward Investments LLC promissory notes | 2,258 | 2,258 | ||||||
Issuance of common stock pursuant to Forward Investments LLC promissory notes, Shares | 61,628 | |||||||
Issuance of common stock pursuant to payment Senior secured convertible note, JGB (Cayman) Concord Ltd. | 1,304 | 1,304 | ||||||
Issuance of common stock pursuant to payment Senior secured convertible note, JGB (Cayman) Concord Ltd., Shares | 53,775 | |||||||
Issuance of common stock pursuant to Smithline convertible note | 371 | 371 | ||||||
Issuance of common stock pursuant to Smithline convertible note, Shares | 1,965 | |||||||
Issuance of common stock pursuant to loan covenants | 828 | 828 | ||||||
Issuance of common stock pursuant to loan covenants, Shares | 2,250 | |||||||
Issuance of common stock upon conversion of related party debt | 200 | 200 | ||||||
Issuance of common stock upon conversion of related party debt, Shares | 625 | |||||||
Purchase of treasury shares | (2) | $ (1) | $ (1) | |||||
Purchase of treasury shares, Shares | (1,997) | 1,997 | ||||||
Stock compensation expense | 3,385 | 3,385 | ||||||
Stock compensation expense, Shares | ||||||||
Reclassification of warrants issued pursuant to JGB Amendment Agreement | 972 | $ 972 | ||||||
Reclassification of warrants issued pursuant to JGB Amendment Agreement, Shares | 2,250 | |||||||
Reclassification of warrants issued pursuant to 8760 Acquisition | 36 | $ 36 | ||||||
Reclassification of warrants issued pursuant to 8760 Acquisition, Shares | 1,875 | |||||||
Issuance of warrants issued upon settlement of accounts payable | 460 | $ 460 | ||||||
Issuance of warrants issued upon settlement of accounts payable, Shares | 6,250 | |||||||
Net income (loss) | (26,472) | (26,483) | 11 | |||||
Balance at Dec. 31, 2016 | (16,043) | $ 2 | $ 1,727 | $ (1) | 130,869 | (148,983) | 343 | |
Balance (Shares) at Dec. 31, 2016 | 282,124 | 10,852 | 3,069 | |||||
Issuance of common stock pursuant to Forward Investments LLC promissory notes | 5,964 | $ 29 | 5,935 | |||||
Issuance of common stock pursuant to Forward Investments LLC promissory notes, Shares | 2,900,103 | |||||||
Issuance of shares pursuant to Dominion Convertible notes | 2,980 | $ 7 | 2,973 | |||||
Issuance of shares pursuant to Dominion Convertible notes, Shares | 711,629 | |||||||
Issuance of common stock pursuant to payment Senior secured convertible note, JGB (Cayman) Concord Ltd. | 2,332 | $ 4 | 2,328 | |||||
Issuance of common stock pursuant to payment Senior secured convertible note, JGB (Cayman) Concord Ltd., Shares | 320,879 | |||||||
Issuance of common stock pursuant to payment Senior secured convertible note, JGB (Cayman) Waltham Ltd. | 1,147 | $ 8 | 1,139 | |||||
Issuance of common stock pursuant to payment Senior secured convertible note, JGB (Cayman) Waltham Ltd., Shares | 767,892 | |||||||
Issuance of shares pursuant to MEF I (Magna) convertible note | 726 | $ 3 | 723 | |||||
Issuance of shares pursuant to MEF I (Magna) convertible note, Shares | 276,930 | |||||||
Issuance of common stock pursuant to Smithline convertible note | 726 | $ 1 | 725 | |||||
Issuance of common stock pursuant to Smithline convertible note, Shares | 133,736 | |||||||
Purchase of treasury shares | (2) | $ (1) | $ (1) | |||||
Purchase of treasury shares, Shares | (921) | 921 | ||||||
Cancellation of shares previously issued | (1) | $ (1) | ||||||
Cancellation of shares previously issued, Shares | (20,013) | |||||||
Loan forgiveness to related party | 182 | 182 | ||||||
Stock compensation expense | 1,172 | 1,172 | ||||||
Stock compensation expense, Shares | 14,250 | |||||||
Reclassification of warrants issued pursuant to JGB Amendment Agreement | (33) | $ (972) | 939 | |||||
Reclassification of warrants issued pursuant to JGB Amendment Agreement, Shares | (2,250) | |||||||
Reclassification of warrants issued pursuant to 8760 Acquisition | (3) | $ (36) | 33 | |||||
Reclassification of warrants issued pursuant to 8760 Acquisition, Shares | (1,875) | |||||||
Reclassification of warrants issued pursuant to bridge agreement (GPB) | $ (258) | 258 | ||||||
Stock split rounding adjustment, Shares | 2 | |||||||
Retirement of treasury shares | (3,652) | |||||||
Issuance of warrants to employees | 734 | $ 734 | ||||||
Issuance of warrants to employees, Shares | 382,300 | |||||||
Reclassification of warrants issued pursuant to settlement of AP (SRFF) | (75) | $ (460) | 385 | |||||
Reclassification of warrants issued pursuant to settlement of AP (SRFF), Shares | (6,250) | |||||||
Issuance of warrant to Elliott Cameron | 13 | $ 13 | ||||||
Issuance of warrant to Elliott Cameron, Shares | 25,000 | |||||||
Exercise of JGB February 2017 warrants | 1,000 | $ 3 | 997 | |||||
Exercise of JGB February 2017 warrants, Shares | 310,978 | |||||||
Issuance of shares pursuant to RDW Capital LLC convertible notes | 2,273 | $ 37 | 2,236 | |||||
Issuance of shares pursuant to RDW Capital LLC convertible notes, Shares | 3,640,359 | |||||||
Issuance of Series J preferred stock to related party debt holders | 4,918 | 4,918 | ||||||
Issuance of Series J preferred stock to related party debt holders, Shares | 1,000 | |||||||
Reclassification of warrants issued pursuant to JGB Amendment Agreement | 7 | $ 7 | ||||||
Reclassification of warrants issued pursuant to JGB Amendment Agreement, Shares | 2,250 | |||||||
Reclassification of warrants issued pursuant to settlement of AP (SRFF) | 16 | $ 16 | ||||||
Reclassification of warrants issued pursuant to settlement of AP (SRFF), Shares | 6,250 | |||||||
Cancellation of previously issued warrants to employees pursuant to issuance of Series M preferred stock | (734) | $ (734) | ||||||
Cancellation of previously issued warrants to employees pursuant to issuance of Series M preferred stock, Shares | (382,300) | |||||||
Forfeiture of RSUs | (1,274) | (1,274) | ||||||
Acquisition of interest in SDN Systems, LLC | (336) | (336) | ||||||
Net income (loss) | (44,892) | (44,336) | (556) | |||||
Balance at Dec. 31, 2017 | $ (39,203) | $ 92 | $ 37 | $ (2) | $ 154,538 | $ (193,319) | $ (549) | |
Balance (Shares) at Dec. 31, 2017 | 9,337,948 | 33,977 | 1,000 | 338 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Cash flows from operating activities: | ||
Net loss | $ (44,892) | $ (26,472) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Net (income) loss from discontinued operations | 1,559 | 5,672 |
Depreciation and amortization | 559 | 1,326 |
Provision for bad debts | 675 | 30 |
Amortization of debt discount and deferred debt issuance costs | 2,897 | 6,903 |
Stock compensation for services | 634 | 3,385 |
Issuance of shares to non-employees for services | 12 | 104 |
Loss on investment in equity method investee | 23 | |
Change in fair value of derivative instruments | (3,530) | (17,545) |
Change in fair value of Series M preferred stock | 6 | |
Deferred income taxes | (763) | (35) |
Gain (loss) on conversion of debt | (416) | |
Loss on extinguishment of debt | 8,857 | 9,587 |
Write off of investment in equity method investee | 777 | |
Reserve for loans to employees | 891 | |
Loss on disposal of subsidiary | 4,620 | (326) |
Goodwill impairment | 7,992 | |
Intangible asset impairment | 1,522 | |
Changes in operating assets and liabilities: | ||
Accounts receivable | 75 | 303 |
Other assets | 132 | 813 |
Deferred revenue | 769 | (33) |
Accounts payable and accrued expenses | 3,948 | 1,713 |
Income taxes payable | (38) | (599) |
Net cash used in operating activities of continuing operations | (14,966) | (13,899) |
Net cash provided by operating activities of discontinued operations | 13,208 | 2,870 |
Net cash used in operating activities | (1,758) | (11,029) |
Cash flows from investing activities: | ||
Purchases of equipment | (29) | (93) |
Disposal of vehicle | 1 | |
Issuance of notes receivable | 484 | (873) |
Cash proceeds from sale of Highwire | 4,000 | |
Cash proceeds from sale of SDNE | 1,134 | |
Net cash paid upon disposal of the AWS Entities | (105) | |
Net cash paid upon the disposal of Nottingham | (8) | |
Cash received for acquired assets | 112 | |
Net cash provided by (used in) investing activities of continuing operations | 5,477 | (854) |
Net cash provided by investing activities of discontinued operations | 21,852 | |
Net cash provided by investing activities | 5,477 | 20,998 |
Cash flows from financing activities: | ||
Proceeds from bank borrowing | 15 | |
Repayments of bank borrowings | (7) | (10) |
Proceeds from term loans | 680 | 495 |
Proceeds from related-party loans | 75 | |
Repayments of term loans | (1,475) | (15,083) |
Term loan-related payments from proceeds of sale of Highwire | (3,625) | |
Repayments of receivables purchase agreements | (481) | |
Cancellation of shares issued for interest | (1) | |
Proceeds from third-party borrowings | 1,474 | |
Repayments of third-party borrowings | (1,000) | |
Restricted cash applied to long term loans | (2,000) | |
Repurchase of common shares | 1 | |
Net cash used in financing activities | (4,819) | (16,123) |
Net decrease in cash | (1,100) | (6,154) |
Cash, beginning of year | 1,781 | 7,935 |
Cash, end of year | 681 | 1,781 |
Supplemental disclosures of cash flow information: | ||
Cash paid for interest | 232 | 3,012 |
Cash paid for income taxes | 86 | 115 |
Non-cash investing and financing activities: | ||
Issuance of shares pursuant to conversion of debt | 16,147 | 7,216 |
Addition to debt discount | 2,387 | 3,042 |
Issuance of shares of Series J preferred stock pursuant to conversion of related-party debt | 4,917 | |
Issuance of shares of Series K preferred stock pursuant to conversion of term loan debt | 735 | |
Issuance of shares of Series L preferred stock pursuant to conversion of term loan debt | 152 | |
Issuance of shares of Series M preferred stock pursuant to cancellation of warrants | 3,021 | |
Acqusition of interest in SDN Systems, LLC | 336 | |
Issuance of warrants pursuant to acquisition | 36 | |
Issuance of warrant pursuant to JGB Waltham and JGB Concord amendment | 972 | |
Issuance of shares pursuant to acquisitions | 1,174 | |
Issuance of shares in lieu of cash compensation | 189 | |
Issuance of warrants for settlement of accounts payable | 460 | |
Issuance of shares for payout of incentives earned | 50 | |
Issuance of shares pursuant to loan covenants | 828 | |
Issuance of shares pursuant to bridge financing agreement | $ 320 |
Description of Business
Description of Business | 12 Months Ended |
Dec. 31, 2017 | |
Description of Business [Abstract] | |
DESCRIPTION OF BUSINESS | 1. DESCRIPTION OF BUSINESS InterCloud Systems, Inc. (the “Company”) was incorporated on November 22, 1999 under the laws of the State of Delaware. The Company provides networking orchestration and automation for IOT (Internet of things), software-defined networking (“SDN”) and network function virtualization (“NFV”) environments to telecommunication service providers and corporate enterprise markets. On October 31, 2013, the Company’s common stock and warrants were listed on the NASDAQ Capital Market under the symbols "ICLD" and "ICLDW," respectively. As of October 6, 2016, the Company’s stock and warrants were delisted from the NASDAQ Capital Market and commenced trading on the OTCQB Venture Market. On February 13, 2018, our stock and warrants commenced trading on OTC Pink Current Information. The Company is comprised of the following operating units: ● T N S, Inc. ● Rives-Monteiro Engineering LLC and Rives-Monteiro Leasing, LLC. ● SDN Systems, LLC. ● ADEX Corporation. |
Going Concern Uncertainty, Fina
Going Concern Uncertainty, Financial Condition and Management's Plans | 12 Months Ended |
Dec. 31, 2017 | |
Going Concern Uncertainty, Financial Condition and Management's Plans [Abstract] | |
GOING CONCERN UNCERTAINTY, FINANCIAL CONDITION AND MANAGEMENT'S PLANS | 2. GOING CONCERN UNCERTAINTY, FINANCIAL CONDITION AND MANAGEMENT’S PLANS The Company’s management believes that there is substantial doubt about the Company’s ability to continue as a going concern. The Company’s management believes that its available cash balance as of the date of this filing will not be sufficient to fund its anticipated level of operations for at least the next 12 months. The Company’s ability to continue operations depends on its ability to sustain and grow revenue and results of operations as well as its ability to access capital markets when necessary to accomplish the Company’s strategic objectives. The Company’s management believes that the Company will continue to incur losses for the immediate future. For the year ended December 31, 2017, the Company generated gross profits from operations but was unable to achieve positive cash flow from operations. The Company’s management expects to finance future cash needs from the results of operations and, depending on the results of operations, the Company may need additional equity or debt financing until the Company can achieve profitability and positive cash flows from operating activities, if ever. During the years ended December 31, 2017 and 2016, the Company suffered recurring losses from operations, has violated loan covenants and has had events of default. At December 31, 2017 and 2016, the Company had a stockholders’ deficit of $39,203 and $16,043, respectively. At December 31, 2017, the Company had a working capital deficit of approximately $20,506, as compared to a working capital deficit of approximately $39,413 at December 31, 2016. The increase of $18,907 in the Company’s working capital from December 31, 2016 to December 31, 2017 was primarily the result of a decrease in outstanding balances of term loans and notes to related parties. On or prior to March 31, 2019, the Company has obligations relating to the payment of indebtedness on term loans and notes to related parties of $11,898 and $75, respectively. The Company anticipates meeting its cash obligations on indebtedness that is payable on or prior to March 31, 2019 from earnings from operations, the sale of certain operating assets or businesses and from the proceeds of additional indebtedness or equity raises. If the Company is not successful in obtaining additional financing when required, the Company expects that it will be able to renegotiate and extend certain of its notes payable as required to enable it to meet its remaining debt obligations as they become due, although there can be no assurance that the Company will be able to do so. The Company’s future capital requirements for its operations will depend on many factors, including the profitability of its businesses, the number and cash requirements of other acquisition candidates that the Company pursues, and the costs of operations. The Company’s management has taken several actions to ensure that it will have sufficient liquidity to meet its obligations, including the reduction of certain general and administrative expenses, consulting expenses and other professional services fees. Additionally, if the Company’s actual revenues are less than forecasted, the Company anticipates implementing headcount reductions to a level that more appropriately matches then-current revenue and expense levels. The Company is evaluating other measures to further improve its liquidity, including the sale of certain operating assets or businesses, the sale of equity or debt securities and entering into joint ventures with third parties. Lastly, the Company may elect to reduce certain related-party and third-party debt by converting such debt into common shares. The Company’s management believes that these actions will enable the Company to meet its liquidity requirements through March 31, 2019. There is no assurance that the Company will be successful in any capital-raising efforts that it may undertake to fund operations over the next 12 months. The Company plans to generate positive cash flow from its operating subsidiaries. However, to execute the Company’s business plan, service existing indebtedness and implement its business strategy, the Company anticipates that it will need to obtain additional financing from time to time and may choose to raise additional funds through public or private equity or debt financings, a bank line of credit, borrowings from affiliates or other arrangements. The Company cannot be sure that any additional funding, if needed, will be available on terms favorable to the Company or at all. Furthermore, any additional capital raised through the sale of equity or equity-linked securities may dilute the Company’s current stockholders’ ownership and could also result in a decrease in the market price of the Company’s common stock. The terms of any securities issued by the Company in future capital transactions may be more favorable to new investors and may include the issuance of warrants or other derivative securities, which may have a further dilutive effect. The Company also may be required to recognize non-cash expenses in connection with certain securities it issues, such as convertible notes and warrants, which may adversely impact the Company’s financial condition. Furthermore, any debt financing, if available, may subject the Company to restrictive covenants and significant interest costs. There can be no assurance that the Company will be able to raise additional capital, when needed, to continue operations in their current form. |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2017 | |
Summary of Significant Accounting Policies [Abstract] | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES PRINCIPLES OF CONSOLIDATION AND ACCOUNTING FOR INVESTMENTS IN AFFILIATE COMPANIES The accompanying consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States (“GAAP”). The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries, which include Tropical Communications, Inc. (“Tropical”) (since August 2011 – sold in April 2017 in connection with the sale of the AWS Entities), Rives-Monteiro Leasing, LLC (“RM Leasing”) (since December 2011), ADEX Corporation, ADEX Puerto Rico, LLC and Highwire (collectively, “ADEX” or “ADEX Entities”) (since September 2012 – Highwire was sold in January 2017 – refer to Note 5, Acquisitions and Disposals of Subsidiaries, for further detail, and the ADEX Entities were sold in February 2018 – refer to Note 22, Subsequent events, for further detail), TNS, Inc. (“TNS”) (since September 2012), AW Solutions, Inc. and AW Solutions Puerto Rico, LLC (collectively, the “AWS Entities”) (since April 2013 – the AWS Entities were sold in April 2017 – refer to Note 5, Acquisitions and Disposals of Subsidiaries, for further detail), SDN Essentials, LLC (“SDNE”) (since January 2016 – SDNE was sold in May 2017 – refer to Note 5, Acquisitions and Disposals of Subsidiaries, for further detail), and SDN Systems, LLC (“SDNS”) (since January 2017). The results of operations of the Company’s former subsidiaries, VaultLogix, LLC (“VaultLogix”) (since October 2014), PCS Holdings LLC (“Axim”) (since December 2014), Integration Partners – NY Corporation (“IPC) (since January 2014 – the assets were sold in November 2017), and RentVM Inc. (“RentVM”) (since February 2014 – discontinued in November 2017 in connection with the sale of the assets of the IPC subsidiary), have been included as discontinued operations on the accompanying financial statements. In February 2016, the Company consummated the sale of certain assets of VaultLogix, in April 2016, the Company consummated the sale of all assets of Axim, and in November 2017, the Company began the process of discontinuing the IPC business (refer to Note 21, Discontinued Operations, for further information). All significant intercompany accounts and transactions have been eliminated in consolidation. The Company consolidates all entities in which it has a controlling voting interest and a variable interest in a variable interest entity (“VIE”) in which the Company is deemed to be the primary beneficiary. The consolidated financial statements include the accounts of Rives-Montiero Engineering, LLC (“RM Engineering”) (since December 2011), in which the Company owns an interest of 49%. The Company has the ability to exercise its call option to acquire the remaining 51% of RM Engineering for a nominal amount and thus makes all significant decisions related to RM Engineering even though it absorbs only 49% of the losses. Additionally, substantially all of the entity’s activities either involve or are conducted on behalf of the entity by the 51% holder of RM Engineering. The consolidation of RM Engineering resulted in increases of $675 in assets and $260 in liabilities in the Company’s consolidated balance sheet and $2,199 in revenue and $397 in net loss in the consolidated statement of operations as of and for the year ended December 31, 2017. The consolidation of RM Engineering resulted in increases of $1,025 in assets and $213 in liabilities in the Company’s consolidated balance sheet and $3,080 in revenue and $1 in net income in the consolidated statement of operations as of and for the year ended December 31, 2016. On December 17, 2015, the Company acquired a 13.7% ownership interest in NGNWare, LLC (“NGNWare”) for $800. The Company did not hold a controlling financial interest but had the ability to exercise significant influence over the operating and financial policies of NGNWare. As such, the Company accounted for the investment in NGNWare under the equity method of accounting. The Company wrote off the investment as of December 31, 2016. As a result, the Company recorded a loss on investment in equity method investee of $777 on the consolidated statement of operations for the year ended December 31, 2016. The Company also wrote off the note receivable as it was deemed uncollectible. The Company recorded a loss of $507 on the consolidated statement of operations for the year ended December 31, 2016. In June 2016, the Company made a loan to SDN Systems, LLC (“SDNS”). The loan is convertible into a 90% ownership stake in SDNS. The Company is the primary source of capital for SDNS. The Company evaluated the investment in SDNS at both December 31, 2017 and 2016. At December 31, 2016, SDNS did not meet the criteria to be included as a VIE, but at December 31, 2017, the criteria for a VIE were met. As such, the operations of SDNS have been included in the Company’s consolidated statement of accounts. The consolidation of SDNS resulted in increases of $9 in assets and $92 in liabilities in the Company’s consolidated balance sheet and $354 in net loss in the consolidated statement of operations as of and for the year ended December 31, 2017. The consolidated financial statements reflect all adjustments, consisting of recurring accruals, which are, in the opinion of management, necessary for a fair presentation of such statements. These consolidated financial statements have been prepared in accordance with GAAP pursuant to the rules and regulations of the Securities and Exchange Commission. BASIS OF PRESENTATION The consolidated financial statements have been presented on a comparative basis. During the year ended December 31, 2017, the Company disposed of six subsidiaries. During the year ended December 31, 2016, the Company disposed of two subsidiaries. The results of certain of these subsidiaries are included within discontinued operations for the years ended December 31, 2017 and 2016. The Company retrospectively updated the consolidated financial statements as of and for the year ended December 31, 2016 to reflect this change. REVERSE STOCK SPLITS On July 7, 2017, the Company filed a Certificate of Amendment of its Certificate of Incorporation that effected a one-for-four reverse split of the Company’s issued and outstanding shares of common stock, par value $0.0001 per share, effective as of the open of trading on July 12, 2017. The Company’s stockholders, at the 2016 Annual Meeting of Stockholders, had previously authorized the Company’s Board of Directors to effect a reverse stock split within a range of ratios, including one-for-four, at any time within one year following such Annual Meeting, as determined by the board. On February 22, 2018, the Company filed a Certificate of Amendment of its Certificate of Incorporation that effected a one-for-one hundred reverse split of the Company’s issued and outstanding shares of common stock, par value $0.0001 per share, effective as of the open of trading on February 23, 2018. The Company’s stockholders, by written consent dated December 5, 2017, had previously authorized the Company’s Board of Directors to effect a reverse stock split within a range of ratios, including one-for-one hundred, at any time within one year following the date of such written consent, as determined by the board. All common share, warrant, stock option, and per share information in the consolidated financial statements gives retroactive effect to the one-for-four reverse stock split that was effected on July 12, 2017 and the one-for-one hundred reverse stock split that was effected on February 23, 2018. There was no change to the number of authorized shares of common stock of the Company as a result of the reverse stock split. The par value of the Company’s common stock was unchanged at $0.0001 per share post-split. USE OF ESTIMATES The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities as of the date of the financial statements and the reported amounts of revenue and expense during the reporting period. Changes in estimates and assumptions are reflected in reported results in the period in which they become known. Significant uses of estimates include the following: 1) valuation of derivative instruments, 2) allowance for doubtful accounts, 3) estimated useful lives of property, equipment and intangible assets, 4) valuation of contingent consideration, 5) revenue recognition, 6) estimates related to the recovery of deferred tax assets, 7) valuation of intangible assets, 8) goodwill impairment, 9) recoverability of indefinite lived intangible assets, 10) estimates in connection with the allocation of the purchase price allocations, 11) stock-based compensation valuation, and 12) inventory reserve. Actual results could differ from estimates. SEGMENT INFORMATION During 2016, the Company consummated the sale of certain assets of its former VaultLogix and Axim subsidiaries. These subsidiaries comprised the Company’s former cloud services segment. Additionally, during 2017, the Company sold the assets of its IPC subsidiary and returned its interest in Nottingham. These entities comprised the Company’s former managed services segment. As such, the Company concluded that it had two reportable segments as of December 31, 2017: applications and infrastructure and professional services. The Company’s reporting units have been aggregated into one of two operating segments due to their similar economic characteristics, products, or production and distribution methods. The first operating segment is applications and infrastructure, which is comprised of the components TNS, the AWS Entities (sold by the Company in April 2017), Tropical (sold by the Company in April 2017 in connection with the sale of the AWS Entities), and RM Engineering. The Company’s second operating segment is professional services, which consists of the ADEX entities (sold by the Company in February 2018) and SDNE (sold by the Company in May 2017). The operating segments mentioned above constitute reporting segments. Refer to Note 20, Segment Information, for a detailed discussion on the change in reporting segments. CASH AND CASH EQUIVALENTS Cash consists of checking accounts and money market accounts. The Company considers all highly-liquid investments purchased with a maturity of three months or less at the time of purchase to be cash. ACCOUNTS RECEIVABLE AND ALLOWANCE FOR DOUBTFUL ACCOUNTS Trade accounts receivable are recorded at the invoiced amount and do not bear interest. Management reviews a customer’s credit history before extending credit. The Company maintains an allowance for doubtful accounts for estimated losses resulting from the inability of its customers to make required payments. Estimates of uncollectible amounts are reviewed each period, and changes are recorded in the period in which they become known. Management analyzes the collectability of accounts receivable each period. This review considers the aging of account balances, historical bad debt experience, changes in customer creditworthiness, current economic trends, customer payment activity and other relevant factors. Should any of these factors change, the estimate made by management may also change. Allowance for doubtful accounts was $696 and $412 at December 31, 2017 and 2016, respectively. BUSINESS COMBINATIONS The Company accounts for its business combinations under the provisions of Accounting Standards Codification (“ASC”) Topic 805-10, Business Combinations The estimated fair value of net assets acquired, including the allocation of the fair value to identifiable assets and liabilities, was determined using Level 3 inputs in the fair value hierarchy. The estimated fair value of the intangible assets acquired was determined using the income approach to valuation based on the discounted cash flow method. Under this method, expected future cash flows of the business on a stand-alone basis are discounted back to a present value. The estimated fair value of identifiable intangible assets, consisting of customer relationships, the trade names and non-compete agreements acquired, also were determined using an income approach to valuation based on excess cash flow, relief of royalty and discounted cash flow methods. The discounted cash flow valuation method requires the use of assumptions, the most significant of which include: future revenue growth, future earnings before interest, taxes, depreciation and amortization, estimated synergies to be achieved by a market participant as a result of the business combination, marginal tax rate, terminal value growth rate, weighted average cost of capital and discount rate. The excess earnings method used to value customer relationships requires the use of assumptions, the most significant of which include: the remaining useful life, expected revenue, survivor curve, earnings before interest and tax margins, marginal tax rate, contributory asset charges, discount rate and tax amortization benefit. The most significant assumptions under the relief of royalty method used to value trade names include: estimated remaining useful life, expected revenue, royalty rate, tax rate, discount rate and tax amortization benefit. The discounted cash flow method used to value non-compete agreements includes assumptions such as: expected revenue, term of the non-compete agreements, probability and ability to compete, operating margin, tax rate and discount rate. Management has developed these assumptions based on historical knowledge of the business and projected financial information of the Company. These assumptions may vary based on future events, perceptions of different market participants and other factors outside the control of management, and such variations may be significant to estimated values. GOODWILL AND INDEFINTITE LIVED INTANGIBLE ASSETS Goodwill was generated through the acquisitions made by the Company. As the total consideration paid exceeded the value of the net assets acquired, the Company recorded goodwill for each of the completed acquisitions. At the date of acquisition, the Company performed a valuation to determine the value of the intangible assets, along with the allocation of assets and liabilities acquired. The goodwill is attributable to synergies and economies of scale provided to the Company by the acquired entity (refer to Note 5, Acquisitions and Disposals of Subsidiaries, for further detail). During the fourth quarter of 2015, the Company changed the date of its annual impairment test from December 31 to October 1. The change was made to more closely align the impairment testing date with the Company’s long-range planning and forecasting process. The Company believes the change in its annual impairment testing date did not delay, accelerate, or avoid an impairment charge. The Company has determined that this change in accounting principle is preferable under the circumstances and does not result in adjustments to the Company’s financial statements when applied retrospectively. The Company tests its goodwill and indefinite-lived intangible assets for impairment at least annually (as of October 1) and whenever events or circumstances change that indicate impairment may have occurred. A significant amount of judgment is involved in determining if an indicator of impairment has occurred. Such indicators may include, among others: a significant decline in the Company’s expected future cash flows; a sustained, significant decline in the Company’s stock price and market capitalization; a significant adverse change in legal factors or in the business climate of its segments; unanticipated competition; and slower growth rates. Any adverse change in these factors could have a significant impact on the recoverability of goodwill, the indefinite-lived intangible assets and the Company’s consolidated financial results. Goodwill has been assigned to the reporting unit to which the value relates. The Company aggregates its reporting units and tests its goodwill for impairment at the operating segment level. The Company tests goodwill by estimating the fair value of the reporting unit using a Discounted Cash Flow (“DCF”) model. The key assumptions used in the DCF model to determine the highest and best use of estimated future cash flows include revenue growth rates and profit margins based on internal forecasts, terminal value and an estimate of a market participant’s weighted-average cost of capital used to discount future cash flows to their present value. The Company tested the indefinite-lived intangible assets using a Relief From Royalty Method (“RFRM”) under the Income Approach in conjunction with a Market Approach Method. The key assumptions used in the RFRM model include revenue growth rates, the terminal value and the assumed discount rate. The Market Approach Method uses one or more methods that compare the Company to similar businesses, business ownership interest and securities that have been sold. Certain elements of the Market Approach Method are incorporated in the RFRM. While the Company uses available information to prepare estimates and to perform impairment evaluations, actual results could differ significantly from these estimates or related projections, resulting in impairment related to recorded goodwill balances. Additionally, adverse conditions in the economy and future volatility in the equity and credit markets could impact the valuation of the Company’s reporting units. The Company can provide no assurances that, if such conditions occur, they will not trigger impairments of goodwill and other intangible assets in future periods within all segments. With regard to other long-lived assets and intangible assets with indefinite-lives, the Company follows a similar impairment assessment. The Company will assess the quantitative factors to determine if an impairment test of the indefinite-lived intangible asset is necessary. If the quantitative assessment reveals that it is more likely than not that the asset is impaired, a calculation of the asset’s fair value is made. Fair value is calculated using many factors, which include the future discounted cash flows as well as the estimated fair value of the asset in an arm’s-length transaction. REVENUE RECOGNITION The Company’s revenues are generated from its two reportable segments: applications and infrastructure and professional services. The Company recognizes revenue on arrangements in accordance with ASC Topic 605-10, “ Revenue Recognition The applications and infrastructure segment is comprised of TNS, the AWS Entities (sold by the Company in April 2017), Tropical (sold by the Company in April 2017 in connection with the sale of the AWS Entities), and RM Engineering. Applications and infrastructure service revenue is derived from contracted services to provide technical engineering services along with contracting services to commercial and governmental customers. The contracts of TNS and RM Engineering provide that payment for the Company’s services may be based on either (i) direct labor hours at fixed hourly rates or (ii) fixed-price contracts. The services provided under the contracts are generally provided within one month. Occasionally, the services may be provided over a period of up to six months. The AWS Entities, which was sold by the Company in April 2017, and which included 8760 Enterprises from September 14, 2016 through December 31, 2016, generally recognized revenue using the percentage of completion method. Revenues and fees under the contracts of these entities were recognized utilizing the units-of-delivery method, which used measures such as task completion within an overall contract. The units-of-delivery approach is an output method used in situations where it is more representative of progress on a contract than an input method, such as the efforts-expended approach. Provisions for estimated losses on uncompleted contracts, if any, were made in the period in which such losses were determined. Changes in job performance conditions and final contract settlements could have resulted in revisions to costs and income, which were recognized in the period in which revisions were determined. The AWS Entities also generated revenue from service contracts with certain customers. These contracts were accounted for under the proportional performance method. Under this method, revenue was recognized in proportion to the value provided to the customer for each project as of each reporting date. The revenues of the Company’s professional services segment, which was comprised of its ADEX subsidiaries (sold by the Company in February 2018) and SDNE (sold by the Company in May 2017), were derived from contracted services to provide technical engineering and management solutions to large voice and data communications providers, as specified by their clients. The contracts provided that payments made for the Company’s services might have been based on either (i) direct labor hours at fixed hourly rates or (ii) fixed-price contracts. The services provided under these contracts were generally provided within one month. Occasionally, the services might have been provided over a period of up to four months. If it was anticipated that the services would span a period exceeding one month, depending on the contract terms, we provided either progress billing at least once a month or upon completion of the clients’ specifications. The aggregate amount of unbilled work-in-progress recognized as revenues was insignificant at December 31, 2017 and 2016. ADEX’s former Highwire division (“Highwire”), sold by the Company in February 2017, generated revenue through its telecommunications engineering group, which contracted with telecommunications infrastructure manufacturers to install the manufacturer’s products for end users. This division of ADEX recognized revenue using the proportional performance method. Under this method, revenue was recognized as projects within contracts were completed as of each reporting date. The Company’s applications and infrastructure segment sometimes requires customers to provide a deposit prior to beginning work on a project. When this occurs, the deposit is recorded as deferred revenue and is recognized in revenue when the work is complete. The Company’s former IPC subsidiary, which was included in the Company’s managed services segment and sold by the Company during November 2017, was a value-added reseller that generated revenues from the resale of voice, video and data networking hardware and software contracted services for design, implementation and maintenance services for voice, video, and data networking infrastructure. IPC’s customers were higher education organizations, governmental agencies and commercial customers. IPC also provided maintenance and support and professional services. For certain maintenance contracts, IPC assumed responsibility for fulfilling the support to customers and recognized the associated revenue either on a ratable basis over the life of the contract or, if a customer purchased a time and materials maintenance program, as maintenance was provided to the customer. Revenue for the sale of third-party maintenance contracts was recognized net of the related cost of revenue. In a maintenance contract, all services were provided by the Company’s third-party providers. As a result, the Company concluded that IPC was acting as an agent and IPC recognized revenue on a net basis at the date of sale with revenue being equal to the gross margin on the transaction. As IPC was under no obligation to perform additional services, revenue was recognized at the time of sale rather than over the life of the maintenance agreement. IPC also generated revenue through the sale of a subscription-based cloud services to its customers. Revenue related to these customers was deferred until the services were performed. This revenue was reported in the former managed services segment. For multiple-element arrangements, IPC recognized revenue in accordance with ASC Topic 605-25, Arrangements with Multiple Deliverables IPC revenue has been included in discontinued operations for the years ended December 31, 2017 and 2016. The Company’s former VaultLogix subsidiary, which was sold in February 2016, provided cloud-based on-line data backup services to its customers. Certain customers paid for their services before service began. Revenue for these customers was deferred until the services were performed. For all services, VaultLogix recognized revenue when services were provided, evidence of an arrangement existed, fees were fixed or determinable and collection was reasonably assured. LONG-LIVED ASSETS, INCLUDING DEFINITE-LIVED INTANGIBLE ASSETS Long-lived assets, other than goodwill and other indefinite-lived intangibles, are evaluated for impairment whenever events or changes in circumstances indicate that the carrying amount of the assets may not be recoverable through the estimated undiscounted future cash flows derived from such assets. Definite-lived intangible assets primarily consist of non-compete agreements and customer relationships. For long-lived assets used in operations, impairment losses are only recorded if the asset’s carrying amount is not recoverable through its undiscounted, probability-weighted future cash flows. The Company measures the impairment loss based on the difference between the carrying amount and the estimated fair value. When an impairment exists, the related assets are written down to fair value. PROPERTY AND EQUIPMENT Property and equipment are stated at cost and depreciated on a straight-line basis over their estimated useful lives. Useful lives are: 3-7 years for vehicles; 5-7 years for equipment; 16 years for developed software; and 3 years for computers and office equipment. Maintenance and repairs are expensed as incurred and major improvements are capitalized. When assets are sold or retired, the cost and related accumulated depreciation are removed from the accounts and the resulting gain or loss is included in other income. CONCENTRATIONS OF RISK Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of cash and trade receivables. The Company maintains its cash balances with high-credit-quality financial institutions. Deposits held with banks may exceed the amount of insurance provided on such deposits. These deposits may be withdrawn upon demand and therefore bear minimal risk. The Company limits the amount of credit exposure through diversification and management regularly monitors the composition of its investment portfolio. The Company provides credit to customers on an uncollateralized basis after evaluating client creditworthiness. For the year ended December 31, 2017, the Company’s largest customer was Uline. This customer accounted for 17% of consolidated revenues for the year ended December 31, 2017. In addition, amounts due from this customer represented 4% of trade accounts receivable as of December 31, 2017. The Company did not have a customer accounting for 10% or greater of consolidated revenues for the year ended December 31, 2016. The Company’s customers in its applications and infrastructure and professional services segments are located within the United States of America and Puerto Rico. Revenues generated within the United States of America accounted for approximately 98% and 98% of consolidated revenues for the years ended December 31, 2017 and 2016, respectively. Revenues generated from foreign sources accounted for approximately 2% and 2% of consolidated revenues for the years ended December 31, 2017 and 2016, respectively. COMMITMENTS AND CONTINGENCIES In the normal course of business, the Company is subject to various contingencies. The Company records a contingency in the consolidated financial statements when it is probable that a liability will be incurred and the amount of the loss is reasonably estimable, or otherwise disclosed, in accordance with ASC Topic 450, Contingencies Breach of Contract Action In July 2013, a complaint was filed against the Company in the Circuit Court of the 15th Judicial Circuit in and for Palm Beach County, Florida titled The Farkas Group, Inc., The Atlas Group of Companies, LLC and Michael D. Farkas v. InterCloud Systems, Inc. (Case No. 502013CA01133XXXMB) for breach of contract and unjust enrichment. In the complaint, the plaintiffs allege that the Company has breached contractual agreements between the Company and plaintiffs pertaining to certain indebtedness amounting to approximately $116 allegedly owed by the Company to the plaintiffs and the Company’s agreement to convert such indebtedness into shares of the Company’s common stock. The plaintiff alleges that they are entitled to receive in the aggregate 5,426 shares of the Company’s common stock or aggregate damages reflecting the trading value at the high price for the common stock. The Company has asserted as a defense that such indebtedness, together with any right to convert such indebtedness into shares of common stock, was cancelled pursuant to the terms of a Stock Purchase Agreement dated as of July 2, 2009 between the Company and the plaintiffs. The Farkas Group was a control person of the Company during the period that it was a public “shell” company and facilitated the transfer of control of the Company to its former chief executive officer, Gideon Taylor. This matter is presently set on the court’s non-jury trial docket. The Company intends to continue to vigorously defend this lawsuit. On May 15, 2017, a complaint was filed against the Company in the Supreme Court of the State of New York, County of New York titled Grant Thornton LLP v. InterCloud Systems, Inc InterCloud Systems, Inc. v. Grant Thornton LLP Securities and Exchange Commission Subpoenas On May 21, 2014, the Company received a subpoena from the SEC that stated that the staff of the SEC is conducting an investigation In the Matter of Galena Biopharma, Inc. File No. HO 12356 (now known as “In the Matter of Certain Stock Promotions”) and that the subpoena was issued to the Company as part of an investigation as to whether certain investor relations firms and their clients engaged in market manipulation. The subpoena and accompanying letter did not indicate whether the Company is, or is not, under investigation. Since May 2014, the Company provided testimony to the SEC and produced documents in response to that subpoena and several additional subpoenas received from the SEC in connection with that matter, including a subpoena issued on March 1, 2016 requesting information relating to a transaction involving the Company’s Series H preferred shares in December 2013. In connection with the SEC investigation, in May 2015, the Company received information from the SEC that it is continuing an investigation of the Company and certain of its current and former officers, consultants of the Company and others, of “possible violation[s]” of Section 17(a) of the Securities Act and Sections 9(a) and 10(b) of the Exchange Act and the rules of the SEC thereunder in the offer or sale of securities and certain other matters with respect to which the SEC claims it has information, including the possible market manipulation of the Company’s securities dating back to January 2013. Based upon the Company’s internal investigations, the Company does not believe either it or any of its current or former officers or directors engaged in any activities that violated applicable securities laws. The Company intends to continue to work with the staff of the SEC towards a resolution and to supplement its disclosure regarding the SEC’s investigation accordingly. On April 2, 2018, the Company received a notification from the SEC that they were closing the investigation and do not intend to recommend enforcement action against the Company. Other From time to time, the Company may become a party to litigation and subject to claims incident to the ordinary course of its business. Although the results of such litigation and claims in the ordinary course of business cannot be predicted with certainty, the Company believes that the final outcome of such matters will not have a material adverse effect on its business, results of operations or financial condition. Regardless of outcome, litigation can have an adverse impact on the Company because of defense costs, diversion of management resources an |
Loans Receivable
Loans Receivable | 12 Months Ended |
Dec. 31, 2017 | |
Loans Receivable [Abstract] | |
LOANS RECEIVABLE | 4. LOANS RECEIVABLE Loans receivable as of December 31, 2017 and 2016 consisted of the following: December 31, 2017 2016 Loans to employees, net of reserves of $924 and $891, respectively, due December 2018 $ 4 $ 37 Loan to third party, due December 2017 $ - $ 345 Fair value of convertible loan receivable from Spectrum Global Solutions, Inc., due April 2018 $ 3,613 $ - Loans receivable $ 3,617 $ 382 Loans to employees bear interest at rates between 2% and 3% per annum. As of December 31, 2017 and 2016, the value of the collateral was below the value of the outstanding loans to employees. As a result, the Company recorded a reserve of $924 and 891 on the balance of loans to employees as of December 31, 2017 and 2016, respectively. On April 25, 2017, the Company sold 80.1% of the assets associated with its AWS Entities subsidiaries (refer to Note 5, Disposals of Subsidiaries, for further detail). In connection with the sale, the Company received from the buyer a one-year convertible promissory note in the principal amount of $2,000. This note accrues interest at a rate of 8% per annum. The interest income associated with this loan receivable during the year ended December 31, 2017 amounted to $69. This note is convertible into shares of common stock of the buyer at a conversion price per share equal to 75% of the lowest VWAP during the fifteen (15) trading days immediately prior to the conversion date. The Company evaluated the convertible note’s settlement provisions and elected the fair value option afforded in ASC 825, Financial Instruments, to value this instrument. Under such election, the loan receivable is measured initially and subsequently at fair value, with any changes in the fair value of the instrument being recorded in the consolidated financial statements as a change in fair value of derivative instruments. The Company estimates the fair value of this instrument by first estimating the fair value of the straight debt portion, excluding the embedded conversion option, using a discounted cash flow model. The Company then estimates the fair value of the embedded conversion option using a Monte Carlo simulation. The sum of these two valuations is the fair value of the loan receivable. On April 25, 2017, the Company used the discounted cash flow method to value the straight debt portion of the convertible note and determined the fair value to be $1,057, and used a Monte Carlo simulation to value the settlement features of the convertible note and determined the fair value to be $1,174. The total fair value of $2,231 was recorded in the consolidated balance sheet. On December 22, 2017, the Company assigned $105 of the note receivable to RDW Capital LLC in exchange for cash of $100. On December 31, 2017, the Company used the discounted cash flow method to value the straight debt portion of the convertible note and determined the fair value to be $1,650, and used a Monte Carlo simulation to value the settlement features of the convertible note and determined the fair value to be $1,963. The total fair value of $3,613 was included in loans receivable on the consolidated balance sheet as of December 31, 2017. The Company recorded the change in fair value as a gain of $1,718 on the consolidated statement of operations for the year ended December 31, 2017. During March 2018, the Company assigned additional amounts of the notes receivable to RDW Capital LLC (refer to Note 22, Subsequent Events, for further detail). The fair value of the note receivable as of December 31, 2017 was calculated using the discounted cash flow method and a Monte Carlo simulation with the following factors, assumptions and methodologies: December 31, 2017 Principal amount and guaranteed interest $ 2,005 Conversion price per share * Conversion trigger price per share None Risk free rate 1.39 % Life of conversion feature (in years) 0.32 Volatility 272 % * The conversion price per share is equal to 75% of the lowest VWAP during the fifteen trading days immediately prior to the conversion date. |
Acquisitions and Disposals of S
Acquisitions and Disposals of Subsidiaries | 12 Months Ended |
Dec. 31, 2017 | |
Acquisitions And Disposals Of Subsidiaries [Abstract] | |
ACQUISITIONS AND DISPOSALS OF SUBSIDIARIES | 5. ACQUISITIONS AND DISPOSALS OF SUBSIDIARIES Disposal of the Highwire of ADEX On January 31, 2017, the Company sold the Highwire division of ADEX. This division accounted for approximately $365 and $10,993 in revenues for the years ended December 31, 2017 and 2016, respectively. Under the terms of the sale, the Company received $4,000 in total proceeds and an additional working capital adjustment of approximately $400 that was paid in October 2017. The Company used proceeds from the sale to make payments on term loans (refer to Note 11, Term Loans, for further detail). In connection with the sale, the Company completed an ASC 350-20 goodwill fair value assignment, which allocated $3,003 from the reporting unit to Highwire. Per ASC 350-20-40-7, when a portion of goodwill is allocated to a business to be disposed of, the goodwill remaining in the portion of the reporting unit to be retained shall be tested for impairment in accordance with paragraphs 350-20-35-3A through 35-19 using its adjusted carrying amount. As a result of the sale, the Company identified indicators of potential impairment of goodwill and intangible assets. Based on the Company’s analysis, the Company recorded goodwill impairment for ADEX and SDNE of $2,885 and $261, respectively, and intangible asset impairment for ADEX and SDNE of $637 and $160, respectively, in the consolidated statement of operations for the year ended December 31, 2017. As a result of the disposal of the Highwire division of ADEX, the Company recorded a gain on disposal of subsidiaries of $695 to the consolidated statement of operations for the year ended December 31, 2017. Disposal of the AWS Entities On April 25, 2017, the Company sold 80.1% of the assets associated with its AWS Entities subsidiaries. The AWS Entities accounted for approximately $3,235 and $11,742 in revenues for the years ended December 31, 2017 and 2016, respectively. The purchase price paid by buyer for the assets included the assumption of certain liabilities and contracts associated with the AWS Entities, the issuance to the Company of a one-year convertible promissory note in the principal amount of $2,000 (refer to Note 4, Loans Receivable, for further detail), and a potential earn-out after six months in an amount equal to the lesser of (i) three times EBITDA of the AWS Entities for the six-month period immediately following the closing and (ii) $1,500. In addition, the asset purchase agreement contains a working capital adjustment. The Company has not yet finalized the numbers for the working capital adjustment. The potential earn-out was settled on February 16, 2018 (refer to Note 22, Subsequent Events, for further detail). Based on the Company’s analysis in accordance with ASC 350-20-40-7, the Company recorded goodwill impairment for TNS and RM Engineering of $596 and $25, respectively, and intangible asset impairment for TNS and RM Engineering of $123 and $39, respectively, in the consolidated statement of operations for the year ended December 31, 2017, as a result of the sale of the AWS Entities. As a result of the disposal of the AWS Entities, the Company recorded a loss on disposal of subsidiaries of $5,900 to the consolidated statement of operations for the year ended December 31, 2017. Disposal of SDNE On May 15, 2017, the Company sold its SDNE subsidiary. SDNE accounted for approximately $1,671and $4,731 in revenues for the years ended December 31, 2017 and 2016. Under the terms of the sale, the Company was to receive $1,400 in cash and a working capital adjustment of $61 to be paid within 150 days of closing. The Company received cash proceeds of $1,411, with $50 being held in escrow as of December 31, 2017. Based on the Company’s analysis in accordance with ASC 350-20-40-7, the reporting units in the Company’s professional services segment were not impaired as a result of the SDNE sale. As a result of the disposal of SDNE, the Company recorded a gain on disposal of subsidiaries of $585 to the consolidated statement of operations for the year ended December 31, 2017. The Company completed the below pro forma data for the years ended December 31, 2017 and 2016 to reflect the impact of the sales described above on the Company’s financial results as though the transactions occurred at the beginning of the reported periods: For the year ended December 31, 2017 2016 Revenue $ 29,249 $ 31,644 Loss from continuing operations (30,259 ) (19,477 ) Net loss (31,818 ) (25,149 ) Net loss attributable to InterCloud Systems, Inc. common stockholders (31,262 ) (25,160 ) Loss per share attributable to InterCloud Systems, Inc. common stockholders, basic and diluted: (10.26 ) (239.93 ) |
Property and Equipment, Net
Property and Equipment, Net | 12 Months Ended |
Dec. 31, 2017 | |
Property and Equipment, Net [Abstract] | |
PROPERTY AND EQUIPMENT, NET | 6. PROPERTY AND EQUIPMENT, NET At December 31, 2017 and 2016, property and equipment consisted of the following: December 31, 2017 2016 Vehicles $ 646 $ 748 Computers and Office Equipment 93 422 Equipment 262 764 Software - 176 Total 1,001 2,110 Less accumulated depreciation (957 ) (1,764 ) Property and equipment, net $ 44 $ 346 Depreciation expense for the years ended December 31, 2017 and 2016 was $76 and $187, respectively. |
Goodwill and Intangible Assets
Goodwill and Intangible Assets | 12 Months Ended |
Dec. 31, 2017 | |
Goodwill and Intangible Assets [Abstract] | |
GOODWILL AND INTANGIBLE ASSETS | 7. GOODWILL AND INTANGIBLE ASSETS Goodwill The following table sets forth the changes in the Company's goodwill during the years ended December 31, 2017 and 2016 resulting from the above-described acquisitions by the Company of its operating segments. Applications and Infrastructure Professional Services Total Balance December 31, 2015 $ 6,906 $ 9,257 $ 16,163 Acquisitions 565 824 1,389 Disposals (565 ) - (565 ) Balance December 31, 2016 $ 6,906 $ 10,081 $ 16,987 Disposals (4,979 ) (4,016 ) (8,995 ) Impairment Charge (1,927 ) (6,065 ) (7,992 ) Balance December 31, 2017 $ - $ - $ - Intangible Assets The following table summarizes the Company’s intangible assets as of December 31, 2017 and 2016: December 31, 2017 Estimated Useful Life Beginning Net Book Value Additions Amortization Amortization Writeoff Impairment Charge Disposals Ending Net Book Value Accumulated Amortization Customer relationship and lists 7-10 yrs $ 4,521 $ - $ (456 ) $ 1,579 $ (69 ) $ (3,824 ) $ 1,751 $ (4,972 ) Non-compete agreements 2-3 yrs 248 - (27 ) 624 (160 ) (685 ) - (1,224 ) URL's Indefinite 8 - - - (5 ) (3 ) - - Trade names Indefinite 3,178 - - - (1,288 ) (982 ) 908 - Total intangible assets $ 7,955 $ - $ (483 ) $ 2,203 $ (1,522 ) $ (5,494 ) $ 2,659 $ (6,196 ) December 31, 2016 Estimated Useful Life Beginning Net Book Value Additions Amortization Amortization Writeoff Impairment Charge Disposals Ending Net Book Value Accumulated Amortization Customer relationship and lists 7-10 yrs $ 5,224 $ 145 $ (856 ) $ 8 $ - $ - $ 4,521 $ (6,095 ) Non-compete agreements 2-3 yrs 154 498 (287 ) 7 - (124 ) 248 (1,821 ) URL's Indefinite 8 - - - - - 8 - Trade names Indefinite 3,178 - - - - - 3,178 - Total intangible assets $ 8,564 $ 643 $ (1,143 ) $ 15 $ - $ (124 ) $ 7,955 $ (7,916 ) During 2016, the Company evaluated the results of its former IPC subsidiary, which was included in the former managed services segment. The Company determined that actual revenues were not meeting its forecasted revenues. As a result, the Company recorded goodwill impairment expense of $1,114 and intangible asset impairment expense of $3,459 in loss on discontinued operations for the year ending December 31, 2016. During the year ended December 31, 2016, the Company also evaluated the fair value of its reporting units that were not impaired and determined that the fair value of its professional services segment was in excess of carrying value by $5,742, or 34%, the fair value of its applications and infrastructure segment was in excess of its carrying value by $2,549 or 20%, and the fair value of its managed services segment was in excess of carrying value by $1,515 or 28%. The Company believes these fair value amounts were substantially in excess of carrying value as discussed in ASC 350-2035-4 through 35-19. During 2017, indicators of potential impairment of goodwill and intangible assets were identified by management in the professional services segment as a result of the sale of ADEX’s Highwire division. Per ASC 350-20-40-7, when a portion of goodwill is allocated to a business to be disposed of, the goodwill remaining in the portion of the reporting unit to be retained shall be tested for impairment in accordance with paragraphs 350-20-35-3A through 35-19 using its adjusted carrying amount. Based on the Company’s analysis, the Company recorded goodwill impairment for ADEX and SDNE of $2,885 and $261, respectively, and intangible asset impairment for ADEX and SDNE of $637 and $160, respectively, in the consolidated statement of operations for the year ended December 31, 2017. During 2017, indicators of potential impairment of goodwill and intangible assets were identified by management in the professional services segment as a result of the sale of SDNE. Per ASC 350-20-40-7, when a portion of goodwill is allocated to a business to be disposed of, the goodwill remaining in the portion of the reporting unit to be retained shall be tested for impairment in accordance with paragraphs 350-20-35-3A through 35-19 using its adjusted carrying amount. Based on the Company’s analysis, the reporting units in the Company’s professional services segment were not impaired as a result of the sale of SDNE. During 2017, indicators of potential impairment of goodwill and intangible assets were identified by management in the professional services segment as a result of the sale of the AWS Entities. Per ASC 350-20-40-7, when a portion of goodwill is allocated to a business to be disposed of, the goodwill remaining in the portion of the reporting unit to be retained shall be tested for impairment in accordance with paragraphs 350-20-35-3A through 35-19 using its adjusted carrying amount. Based on the Company’s analysis, the Company recorded goodwill impairment for TNS and RM Engineering of $596 and $25, respectively, and intangible asset impairment for TNS and RM Engineering of $123 and $39, respectively, in the consolidated statement of operations for year ended December 31, 2017. During 2017, the Company evaluated the results of the ADEX entities, which are included in the Company’s professional services segment, and recorded goodwill impairment expense of $2,919 and intangible asset impairment expense of $486 in the consolidated statement of operations for the year ending December 31, 2017. During 2017, the Company evaluated the results of TNS and RM Engineering, which are included in the Company’s applications and infrastructure segment, and recorded goodwill impairment expense of $1,253 and $53, respectively, and intangible asset impairment expense of $59 and $17, respectively, in the consolidated statement of operations for the year ending December 31, 2017. As a result of impairment charges recording during the year ended December 31, 2017, the Company did not have goodwill as of December 31, 2017. The Company uses the straight-line method to determine the amortization expense for its definite lived intangible assets. Amortization expense related to the purchased intangible assets was $483 and $1,140 for the years ended December 31, 2017 and 2016, respectively. The estimated future amortization expense for the next five years and thereafter is as follows: Year ending December 31, 2018 $ 420 2019 420 2020 420 2021 369 2022 122 Total $ 1,751 |
Accrued Expenses
Accrued Expenses | 12 Months Ended |
Dec. 31, 2017 | |
Accrued Expenses [Abstract] | |
ACCRUED EXPENSES | 8. ACCRUED EXPENSES As of December 31, 2017 and 2016, accrued expenses consisted of the following: December 31, 2017 2016 Accrued interest $ 2,639 $ 7,170 Accrued expenses 2,602 1,774 Accrued compensation 2,767 716 $ 8,008 $ 9,660 |
Fair Value Measurements
Fair Value Measurements | 12 Months Ended |
Dec. 31, 2017 | |
Fair Value Measurements [Abstract] | |
FAIR VALUE MEASUREMENTS | 9. FAIR VALUE MEASUREMENTS Certain assets and liabilities of the Company are required to be recorded at fair value either on a recurring or non-recurring basis. Fair value is determined based on the price that would be received for an asset or paid to transfer a liability in an orderly transaction based on market participants. The following section describes the valuation methodologies that the Company used to measure, for disclosure purposes, its financial instruments at fair value. Debt The fair value of the Company’s debt, which approximated the carrying value of the Company’s debt, as of December 31, 2017 and December 31, 2016 was estimated at $12,034 and $43,729, respectively. Factors that the Company considered when estimating the fair value of its debt included market conditions, liquidity levels in the private placement market, variability in pricing from multiple lenders and term of debt. The level of the debt would be considered as Level 2. Contingent Consideration The fair value of the Company’s contingent consideration payable was based on the Company’s evaluation as to the probability and amount of any earn-out that could have ultimately been payable. The Company utilizes a third-party valuation firm to assist in the calculation of the contingent consideration at the acquisition date. The Company evaluates the forecast of the acquired entity and the probability of earn-out provisions being achieved when it evaluates the contingent consideration recorded at initial acquisition date and at each subsequent reporting period. The fair value of contingent consideration is measured at each reporting period and adjusted as necessary. The Company evaluates the terms in contingent consideration arrangements provided to former owners of acquired companies who become employees of the Company to determine if such amounts are part of the purchase price of the acquired entity or compensation. As part of the sale of SDNE during May 2017, the contingent consideration was forgiven. The Company no longer had any contingent consideration to include on its consolidated balance sheet as of December 31, 2017. Additional Disclosures Regarding Fair Value Measurements The carrying value of cash, accounts receivable and accounts payable approximate their fair value due to the short-term maturity of those items. Fair Value of Derivatives The Company utilizes a binomial lattice pricing model to determine the fair value of its derivative instruments. Derivative Warrant Liabilities and Convertible Features The fair value of the derivative liabilities is classified as Level 3 within the Company’s fair value hierarchy. Please refer to Footnote 12, Derivative Instruments, for a further discussion of the measurement of fair value of the derivatives and their underlying assumptions. The fair value of the Company’s financial instruments carried at fair value at December 31, 2017 and 2016 were as follows: Fair Value Measurements at Reporting Date Using Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs December 31, 2017 Liabilities: Current derivative features related to convertible debentures $ - $ - $ 3,145 Current derivative features related to warrant derivatives - - 234 Long-term derivative features related to convertible debentures - - 661 Long-term derivative features related to preferred stock - - 15,990 Fair value of Series M preferred stock - - 3,021 Total liabilities at fair value $ - $ - $ 23,051 December 31, 2016 Liabilities: Current derivative features related to convertible debentures $ - $ - $ 1,749 Contingent consideration - - 515 Long-term derivative features related to convertible debentures - - 1,316 Total liabilities at fair value $ - $ - $ 3,580 The following table provides a summary of changes in fair value of the Company’s Level 3 financial instruments for the years ended December 31, 2017 and 2016. Amount Balance as of January 1, 2016 $ 17,538 Change in fair value of derivative features related to convertible debentures (19,660 ) Change in fair value of warrant derivative 130 Fair value of contingent consideration 515 Fair value of derivative features related to JGB (Cayman) Concord Ltd. term loan 1,350 Adjustment of derivative liability upon extinguishment of debt 4,778 Fair value of make whole provision 280 Adjustment of derivative liability upon conversion of debt (41 ) Adjustment of derivative liability upon modification of debt (1,552 ) Fair value of derivative features related to Dominion term loan 242 Balance December 31, 2016 3,580 Change in fair value of derivative features related to convertible debentures (3,139 ) Change in fair value of warrant derivative 952 Reclassification of equity warrants to derivative 110 Fair value of JGB warrant derivative 65 Adjustment of derivative liability upon extinguishment of debt 2,241 Adjustment of make-whole provision upon payment (815 ) Fair value of derivative features related to MEF I, L.P. 250 Fair value of derivative features related to Dominion term loan 38 Fair value of derivative features related to RDW term loan 39 Cancellation of 8760 warrants (2 ) Settlement of contingent consideration (515 ) Reclassification of derivative warrants to equity (45 ) Adjustment upon exercise of JGB derivative warrant (1,000 ) Fair value of derivative features related to RDW term loan (July) 126 Fair value of derivative features related to RDW term loan (Sept) 122 Fair value of derivative features related to extinguishment RDW term loan (Hannibal ext) 911 Fair value of derivative features related to RDW term loan (Jadevaia) 374 Fair value of derivative features related to RDW term loan (London Bay exchange) 282 Fair value of derivative features related to London Bay term loan 600 Fair value of derivative features related to Westview term loan 282 Fair value of derivative features related to Series K preferred stock 15,748 Fair value of derivative features related to Series L preferred stock 1,664 Change in fair value of preferred stock derivatives (1,422 ) Fair value of Series M preferred stock 3,015 Change in fair value of Series M preferred stock 6 Adjustment of derivative liability upon conversion of debt (416 ) Balance December 31, 2017 $ 23,051 Treasury Stock The Company records treasury stock at the cost to acquire it and includes treasury stock as a component of stockholders’ deficit. |
Bank Debt
Bank Debt | 12 Months Ended |
Dec. 31, 2017 | |
Bank Debt / Term Loans [Abstract] | |
BANK DEBT | 10. BANK DEBT As of December 31, 2017 and 2016, bank debt consisted of the following: December 31, 2017 2016 Two lines of credit, monthly principal and interest, ranging from $0 to $1, average interest of 14.2%, guaranteed personally by principal shareholders of acquired companies, maturing July 2018 $ 103 $ 121 Equipment finance agreement, monthly principal of $1, maturing February 2020 11 - 114 121 Less: Current portion of bank debt (114 ) (121 ) Long-term portion of bank debt $ - $ - The interest expense associated with the bank debt during the years ended December 31, 2017 and 2016 amounted to $16 and $10, respectively. The weighted average interest rate on bank debt during the years ended December 31, 2017 and 2016 was 14.2% and 8.4%, respectively. There are no financial covenants associated with the bank debt. |
Term Loans
Term Loans | 12 Months Ended |
Dec. 31, 2017 | |
Bank Debt / Term Loans [Abstract] | |
TERM LOANS | 11. TERM LOANS At December 31, 2017 and 2016, term loans consisted of the following: December 31, 2017 2016 Former owners of RM Leasing, unsecured, non-interest bearing, due on demand $ 2 $ 2 Promissory note with company under common ownership by former owner of Tropical, 9.75% interest, monthly payments of interest only of $1, unsecured and personally guaranteed by officer, matured in November 2016 - 106 London Bay - VL Holding Company, LLC convertible promissory note, unsecured, 0% and 8.8% interest, respectively, maturing in October 2018 1,403 7,408 WV VL Holding Corp convertible promissory note, unsecured, 0% and 8.8% interest, respectively, maturing in October 2018 2,005 7,003 8% convertible promissory note, Tim Hannibal, unsecured, matured in October 2017 - 1,215 12% senior convertible note, unsecured, Dominion Capital, matured in January 2017, net of debt discount of $29 - 1,170 12% convertible note, Richard Smithline, unsecured, matured in January 2017, net of debt discount of $0 and $2, respectively - 360 Senior secured convertible debenture, JGB (Cayman) Waltham Ltd., bearing interest of 4.67%, maturing in May 2019, net of debt discount of $0 and $3,136, respectively 3,091 1,900 Senior secured convertible note, JGB (Cayman) Concord Ltd., bearing interest at 4.67%, maturing in May 2019, net of debt discount of $0 and $1,668, respectively 11 2,080 Senior secured note, JGB (Cayman) Waltham Ltd., bearing interest at 4.67%, maturing in May 2019, net of debt discount of $0 and $234, respectively 294 358 6% senior convertible term promissory note, unsecured, Dominion Capital, matured on January 31, 2018, net of debt discount of $1 69 - 12% senior convertible note, unsecured, Dominion Capital, matured in November 2017, net of debt discount of $0 and $65, respectively 75 475 Receivables Purchase Agreement with Dominion Capital, net of debt discount of $44 - 430 Promissory note issued to Trinity Hall, 3% interest, unsecured, matured in January 2018 500 500 9.9% convertible promissory note, RDW Capital LLC. July 14, 2017 Note, maturing on July 14, 2018, net of debt discount of $74 81 - 9.9% convertible promissory note, RDW Capital LLC. September 27, 2017 Note, maturing on September 27, 2018, net of debt discount of $91 64 - 9.9% convertible promissory note, RDW Capital LLC. October 12, 2017 Note, maturing on October 12, 2018 480 - 9.9% convertible promissory note, RDW Capital LLC. December 8, 2017 Note, maturing on December 8, 2018 133 - Promissory notes issued to Forward Investments, LLC, between 2% and 10% interest, matured on July 1, 2016, unsecured 1,421 - Promissory notes issued to Forward Investments, LLC, 3% interest, matured on January 1, 2018, unsecured 1,752 - Promissory notes issued to Forward Investments, LLC, 6.5% interest, matured on July 1, 2016, unsecured 390 - Promissory note to Tim Hannibal, 8% interest, matured on January 9, 2018, unsecured 300 - 12,071 23,007 Less: Current portion of term loans (11,013 ) (21,147 ) Long-term portion term loans, net of debt discount $ 1,058 $ 1,860 Future annual principal payments are as follows: Year ending December 31, 2018 $ 11,179 2019 1,058 Total principal payments $ 12,237 Future annual amortization of debt discounts is as follows: Year ending December 31, 2018 $ 166 Thereafter - Total debt discount amortization $ 166 The interest expense, including amortization of debt discounts, associated with the term loans payable in the years ended December 31, 2017 and 2016 amounted to $6,365 and $10,182, respectively. With the exception of the notes outstanding to RM Leasing, all term loans are subordinate to the JGB (Cayman) Waltham Ltd. and JGB (Cayman) Concord Ltd. notes. Revolving Line of Credit On July 3, 2014, the Company obtained an unsecured $3,000 interim revolving line of credit from the Mark Munro 1996 Charitable Remainder UniTrust to provide working capital as well as cash to make the Company’s upcoming amortization payments pursuant to the Company’s Convertible Debentures. The line bore interest at the rate of 1.5% per month on funds drawn and expired on March 31, 2016. As of March 31, 2016, there was no amount outstanding under the related party revolving line of credit. Term Loan - White Oak Global Advisors, LLC On October 9, 2014, the Company’s former wholly-owned subsidiary, VaultLogix, entered into a loan and security agreement with the lenders party thereto, White Oak Global Advisors, LLC, as Administrative Agent, Data Protection Services, LLC (“DPS”), U.S. Data Security Acquisition, LLC (“USDSA”) and U.S. Data Security Corporation (“USDSC”) as guarantors, pursuant to which, VaultLogix received a term loan in an aggregate principal amount of $13,261. Interest on the term loan accrued at a rate per annum equal to the sum of (a) the greater of (i) the LIBOR Index Rate (as defined), as adjusted as of each Libor Index Adjustment Date (as defined) and (ii) 1.00% per annum; plus (b) 1100 basis points per annum. The LIBOR Index Rate was 1.0896 as of December 31, 2015; however, this did not exceed the 12% stated rate as defined in item (ii) above. The proceeds of the term loan were used to finance the Company’s acquisition of VaultLogix, DPS and USDSA, to repay certain outstanding indebtedness (including all indebtedness owed by VaultLogix to Hercules Technology II, L.P.) and to pay fees, costs and expenses. In connection with the term loan, the Company entered into (i) a continuing guaranty in favor of the administrative agent, (ii) a pledge agreement, and (iii) a security agreement, pursuant to which the obligations of the Company in respect of the term loan were secured by a security interest in substantially all of the assets of VaultLogix, subject to certain customary exceptions. Principal of $11,304 remained outstanding as of December 31, 2015. On February 17, 2016, the Company entered into a securities exchange agreement whereby the Company and VaultLogix exchanged the White Oak Global Advisors term loan and assigned the term loan to JGB (Cayman) Concord Ltd. Refer to the JGB (Cayman) Concord Ltd. Senior Secured Convertible Note section of this note for further explanation. As a result of this assignment, the Company and VaultLogix’s obligations to White Oak Global Advisors, LLC was satisfied as of December 31, 2016. The Company recorded an $843 loss on extinguishment of debt in the consolidated statement of operations for the year ended December 31, 2016. Term Loan – 8% Convertible Promissory Notes Effective as of October 9, 2014, the Company consummated the acquisition of all of the outstanding membership interests of VaultLogix and its affiliated entities for an aggregate purchase price of $36,796. The purchase price for the acquisition was payable to the sellers as follows: (i) $16,385 in cash, (ii) 2,522 shares of the Company’s common stock and (iii) $15,626 in unsecured convertible promissory notes. The closing payments were subject to customary working capital adjustments. The promissory notes accrued interest at a rate of 8% per annum, and all principal and interest accrued under the promissory notes was payable on October 9, 2017. The promissory notes were convertible into shares of the Company’s common stock at a conversion price equal to $2,548.00 per share. On July 18, 2017, the holder of the promissory note in the principal amount of $1,215 assigned the full outstanding amount of the note to a third party, RDW Capital, LLC (“RDW”) (refer to the “Assignment of Tim Hannibal Note - RDW July 18, 2017 2.5% Convertible Promissory Note” section of this note for further detail). The promissory note were subsequently cancelled when exchanged for new promissory notes of the Company. During November 2017, the holders of the promissory notes in the principal amounts of $7,408 and $7,003, respectively, converted $5,405 and $4,998 of principal, respectively, into shares of the Company’s Series K preferred stock (refer to Note 18, Temporary Equity, for further detail). As a result of this conversion, the original notes were amended, with new principal amounts of $2,003 and $2,005, respectively (refer to the “London Bay – VL Holding Company LLC November 17, 2017 Amendment” and “WV VL Holding Corp November 17, 2017 Amendment” sections of this note for further detail). London Bay – VL Holding Company LLC November 17, 2017 Amendment On November 17, 2017, the Company amended a convertible promissory note originally issued to London Bay – VL Holding Company LLC on October 9, 2014. The amendment extended the maturity date to October 9, 2018. The amended note is in the principal amount of $2,003 and does not accrue interest. The note is convertible at 95% of the average of the three lowest prices during the 5 days preceding conversion (refer to Note 12, Derivative Instruments, for further detail on the derivative features associated with the amended note). On December 8, 2017, the holder of the amended note assigned $600 of principal to RDW Capital LLC (refer to the “RDW December 8, 2017 9.9% Convertible Promissory Note” section of this note for further detail). During the year ended December 31, 2017, the investor who holds the amended note did not convert any principal or accrued interest into shares of the company’s common stock. WV VL Holding Corp November 17, 2017 Amendment On November 17, 2017, the Company amended a convertible promissory note originally issued to WV VL Holding Corp on October 9, 2014. The amendment extended the maturity date to October 9, 2018. The amended note is in the principal amount of $2,005 and does not accrue interest. The note is convertible at 95% of the average of the three lowest prices during the 5 days preceding conversion (refer to Note 12, Derivative Instruments, for further detail on the derivative features associated with the amended note). During the year ended December 31, 2017, the investor who holds the amended note did not convert any principal or accrued interest into shares of the company’s common stock. Term Loan – Dominion Capital LLC 12% Promissory Note The Company entered into a securities purchase agreement with an investor whereby the Company issued to the investor a demand promissory note, dated November 17, 2014, in the original principal amount of $1,000, with interest accruing at the rate of 12% per annum. The note matured on the earlier of: (x) November 10, 2015 or (y) upon demand by the investor, which such demand could be made any time 150 days following the issuance of the note upon 30 days’ written notice to the Company; provided, that $60 of interest was guaranteed by the Company regardless of when the note was repaid. The Company could have redeemed the note at any time prior to the maturity date for an amount equal to (i) 100% of the outstanding principal amount, plus (ii) a redemption premium equal to an additional 10% of the outstanding principal amount, plus (iii) any accrued and unpaid interest on the note. The redemption premium could be paid in cash or common stock at the option of the Company. The holder demanded repayment of the demand promissory note by May 16, 2015 and such note was converted on May 14, 2015 into 871 shares of the Company’s common stock. The Company recorded the conversion as a loss on conversion of debt of $264 on the consolidated statement of operations during the year ended December 31, 2015. On May 14, 2015, the Company entered into a securities purchase agreement with the investor whereby the Company issued a term promissory note in the original principal amount of $1,000, with interest accruing at the rate of 12% per annum. The note matured at the earlier of: (x) May 14, 2016 or (y) upon demand by the investor, which such demand could have been made any time after 170 days following the issuance of the note upon 10 days’ written notice to the Company; provided, that $60 of interest was guaranteed by the Company regardless of when the note was repaid. The Company could have redeemed the note at any time prior to the maturity date for an amount equal to (i) 100% of the outstanding principal amount, plus (ii) a redemption premium equal to an additional 10% of the outstanding principal amount, plus (iii) any accrued and unpaid interest on the note. The redemption premium was payable in cash or common stock at the option of the Company. If common stock of the Company was used to pay the redemption premium, then such shares had to be delivered by the third business day following the maturity date, or date of demand, as applicable, at a mutually agreed upon conversion price by both parties. On August 6, 2015, the Company amended the May 14, 2015 term promissory note to increase the principal amount of the note to $1,060 and modify the terms of the promissory note to allow for the investor to convert the note into shares of the Company’s common stock. The term promissory note is convertible into shares of the Company’s common stock at the election of the investor at a conversion price equal to $800.00 per share, subject to certain adjustments. During March 2016, the Company paid $151 in cash related to the principal amount of note outstanding related to the 12% promissory note. During the year ended December 31, 2016, the investor who holds the 12% promissory note converted $606 of principal into shares of the Company’s common stock. Refer to Note 16, Stockholders’ Deficit, for further information. As a result of these conversions, the Company recorded a gain on conversion of debt of $238 in the consolidated statement of operations for the year ended December 31, 2016. Term Loan – Dominion Capital LLC August 6, 2015 Senior Convertible Note On August 6, 2015, the Company entered into a senior convertible note agreement with the investor whereby the Company issued a promissory note in the original principal amount of $2,105, with interest accruing at the rate of 12% per annum, which matured on January 6, 2017. At the election of the investor, the note was convertible into shares of the Company’s common stock at a conversion price equal to $800.00 per share, subject to adjustment as set forth in the agreement. The investor may have elected to have the Company redeem the senior convertible note upon the occurrence of certain events, including the Company’s completion of a $10,000 underwritten offering of the Company’s common stock. Refer to Note 12, Derivative Instruments, for further detail on the derivative features associated with the August 6, 2015 convertible note. During April 2016, the Company paid $117 in cash related to the principal amount of the outstanding note related to the August 6, 2015 senior convertible note. During the year ended December 31, 2016, the investor who held the August 6, 2015 senior convertible note converted $1,053 of principal and accrued interest into shares of the Company’s common stock. Refer to Note 16, Stockholders’ Deficit, for further information. As a result of these conversions, the Company recorded a gain on conversion of debt of $197 in the consolidated statement of operations for the year ended December 31, 2016. The August 6, 2015 senior convertible note matured on January 6, 2017 and was due on demand. During the year ended December 31, 2017, the investor who held the August 6, 2015 senior convertible note converted the remaining principal outstanding of $1,199 into shares of the Company’s common stock (refer to Note 16, Stockholders’ Deficit, for further information). As a result of these conversions, the Company recorded a loss on extinguishment of debt of $832 for the year ended December 31, 2017. During the year ended December 31, 2016, the investor who held the August 6, 2015 senior convertible note converted $1,053 of principal and accrued interest into shares of the Company’s common stock (refer to Note 16, Stockholders’ Deficit, for further information). As a result of these conversions, the Company recorded a gain on conversion of debt of $197 in the consolidated statement of operations for the year ended December 31, 2016. Term Loan – Dominion Capital LLC November 12, 2015 Senior Convertible Note On November 12, 2015, the Company entered into a securities purchase agreement with an investor whereby the Company issued a senior convertible note, for cash proceeds of $500, in the original principal amount of $525. The note had a term of one year, bore interest at the rate of 12% per annum and, at the election of the investor, the note was convertible into shares of the Company’s common stock at a conversion price equal to $700.00 per share, subject to adjustment as set forth in the note. The note amortized in twelve bi-weekly installments beginning on the six month anniversary of the note’s issuance. Amortization payments were made, at the Company’s option, either in (i) cash, in which case the Company would also have to issue to the investor a number of shares of the Company’s common stock equal to 5% of such amortization payment or (ii) subject to the Company satisfying certain equity conditions, shares of the Company’s common stock, pursuant to the amortization conversion rate, which was equal to the lower of (x) $700.00 and (y) a 25% discount to lowest volume weighted average price of the Company’s common stock in the prior three trading days. During the year ended December 31, 2016, the investor who held the November 12, 2015 senior convertible note converted $590 of principal and accrued interest into shares of the Company’s common stock. Refer to Note 16, Stockholders’ Deficit, for further information. On November 12, 2015, the Company entered into an exchange agreement with the investor whereby the Company exchanged a portion of the senior secured note originally issued by the Company to GPB Life Science Holdings, LLC on December 3, 2014 and subsequently assigned to the investor, for new senior convertible notes, in three tranches of $500 for a total principal amount of $1,500. The notes had a term of one year, bore interest at the rate of 12% per annum, and were convertible into shares of the Company’s common stock at a conversion price equal to $500.00 per share, subject to adjustment as set forth in the notes. Starting on the first week anniversary of the issuance of the new senior convertible notes and continuing thereafter, the investor, on a bi-weekly basis, redeemed one-sixth of the face amount of the senior convertible notes and guaranteed interest. The redemptions were made, at the Company’s option, either in (i) cash, in which case the Company would also have to issue to the investor a number of shares of the Company’s common stock equal to 5% of such redemption payment or (ii) subject to the Company satisfying certain equity conditions, shares of the Company’s common stock, pursuant to the redemption conversion rate, which was equal to the lower of (x) $500.00 and (y) a 25% discount to lowest volume weighted average price of the Company’s common stock in the prior three trading days. The Company issued the three tranches of new senior convertible notes on the following dates: ● $500 issued on November 13, 2015 which matured on January 28, 2016 (“Tranche 1”), ● $500 issued on November 27, 2015 which matured on February 19, 2016 (“Tranche 2”) and ● $500 issued on December 11, 2015 which matured on March 4, 2016 (“Tranche 3”). The investor who held the promissory note tranches issued on November 13, 2015, November 27, 2015, and December 11, 2015 converted the debt into shares of the Company’s common stock. Below is a summary of the transactions: Tranche 1: ● During November 2015, the investor converted $83 principal amount of debt into 167 shares of the Company’s common stock. ● During December 2015, the investor converted $167 principal amount of debt into 334 shares of the Company’s common stock. ● During January 2016, the investor converted $167 principal amount of debt into 334 shares of the Company’s common stock. ● On February 3, 2016, the investor converted the remaining $83 principal amount of debt into 167 shares of the Company’s common stock. Tranche 1 of the promissory note debt was fully amortized as of this date. Tranche 2: ● During December 2015, the investor converted $166 principal amount of debt into 334 shares of the Company’s common stock. ● During January 2016, the investor converted $167 principal amount of debt into 334 shares of the Company’s common stock. ● During February 2016, the investor converted $167 principal amount of debt into 334 shares of the Company’s common stock. Tranche 2 of the promissory note debt was fully amortized as of February 22, 2016. Tranche 3: ● During January 2016, the investor converted $250 principal amount of debt into 501 shares of the Company’s common stock. ● During February 2016, the investor converted $167 principal amount of debt into 334 shares of the Company’s common stock. ● On March 2, 2016, the investor converted the remaining $83 principal amount into 167 shares of the Company’s common stock. Term Loan – Dominion Capital LLC September 15, 2016 Promissory Note and November 4, 2016 Exchange Agreement On September 15, 2016, the Company received cash proceeds of $500, from the sale of a term promissory note. The term promissory note originally had a maturity date of November 4, 2016 and can be paid in either cash or common stock at the option of the lender. If common stock of the Company is used to make such payment, then the shares shall be delivered by the third business day following the maturity date and shall equal the total amount including principal and interest, at a conversion price mutually agreed to by both parties at conversion. Interest at a rate of 12% per annum, is to be accrued until the maturity day. The Company will pay a minimum of guaranteed interest of $30 and lender legal fees of $5 out of proceeds of the note. The note may be redeemed at any time prior to maturity at an amount equal to 110% of the outstanding principal amount plus any accrued and unpaid interest on the note. The redemption premium (10%) can be paid in cash or common stock at the option of the Company. If the Company’s common stock is used to make such payment, then such shares shall be delivered by the third business day following the maturity date, or date of demand, as applicable, at a mutually agreed upon conversion price by both parties. On November 4, 2016, the Company entered into an exchange agreement with the holder of the September 15, 2016 term promissory note. The principal amount was increased by $40 to $540, which included a debt discount of $101, and the note became convertible into shares of the Company’s common stock. The maturity date of the note was extended from November 4, 2016 to November 4, 2017. Interest at a rate of 12% per annum is to be accrued until the maturity day. The new note has monthly amortization payments of $86 beginning on May 4, 2017 and ending on the maturity date. These monthly amortization payments can be offset by monthly conversions. The note is convertible at the lower of (i) $4.00, or (ii) 75% of the lowest VWAP day for the 15 days prior to the conversion date. In accordance with ASC Topic 470-50, the Company recorded a loss on extinguishment of $146 in the consolidated statement of operations for the year ended December 31, 2016. Refer to Note 12, Derivative Instruments, for further detail on the derivative features associated with the November 4, 2016 convertible note. During the year ended December 31, 2017, the holder of the November 4, 2016 promissory note converted $465 of principal into shares of the Company’s common stock (refer to Note 16, Stockholders’ Deficit, for further information). As a result of these conversions, the Company recorded a loss on extinguishment of debt of $351 in the consolidated statement of operations for the year ended December 31, 2017. During the year ended December 31, 2016, the holder of the November 4, 2016 promissory note did not convert any principal or accrued interest into shares of the Company’s common stock. The note matured on November 4, 2017 and is now due on demand. Dominion Capital LLC Receivables Purchase Agreement – November 18, 2016 On November 18, 2016, the Company entered into a receivables purchase agreement whereby the Company sold approximately $1,000 of receivables in exchange for $950. The principal amount of the loan was $1,000, which included a debt discount of $50. The proceeds were used to make amortization payments to the Company’s senior lender and for general working capital purchases. During November and December 2016, the Company received and remitted $1,000 of the receivables sold in payment of the loan. Dominion Capital LLC Receivables Purchase Agreement – December 30, 2016 On December 30, 2016, the Company entered into a receivables purchase agreement whereby the Company sold approximately $474 of receivables in exchange for $430. The principal amount of the loan is $474, which includes a debt discount of $44. During the year ended December 31, 2016, the Company did not remit any receivables for this loan. During the year ended December 31, 2017, the Company received and remitted $474 of the receivables sold. Term Loan - Dominion Capital LLC January 31, 2017 Senior Convertible Promissory Note On January 31, 2017, the Company entered into a senior convertible promissory note with Dominion Capital, LLC in the original principal amount of $70, with interest accruing at the rate of 6% per annum, which matures on January 31, 2018. The note is convertible at 70% of the lowest VWAP in the 15 trading days prior to the conversion date. Refer to Note 12, Derivative Instruments, for further detail on the derivative features associated with the January 31, 2017 convertible note. During the year ended December 31, 2017, the holder of the January 31, 2017 promissory note did not convert any principal or accrued interest into shares of the Company’s common stock. Richard Smithline Senior Convertible Note On August 6, 2015, the Company issued to Richard Smithline a senior convertible note in the principal amount of $526, with interest accruing at the rate of 12% per annum, which matured on January 11, 2017. The note is convertible into shares of the Company’s common stock at a conversion price equal to the lesser of $125.00 or 75% of the average daily VWAP for the five (5) trading days prior to the conversion date. Refer to Note 12, Derivative Instruments, for further detail on the derivative features associated with the Richard Smithline Senior Convertible Note. Pursuant to the Smithline senior convertible note, the Company was required to meet current public information requirements under Rule 144 of the Securities Act of 1933, which it had failed to do prior to June 30, 2016. Thus, on July 20, 2016, the Company agreed to add $55 to the principal amount of the Smithline senior convertible note as of July 1, 2016 and the investor waived its right to call an event of default under the note with respect to the Company’s failure to meet the public information requirement for the period ending June 30, 2016. On September 1, 2016, the Company agreed to add $97 to the principal amount of the Smithline senior convertible note as of the date of its last monthly amortization to compensate the investor for certain damages relating to noncompliance with certain provisions of the senior convertible note. In accordance with ASC Topic 470-50, the Company recorded a loss on extinguishment of debt of $167 during the year ended December 31, 2016. The Smithline senior convertible note matured on January 11, 2017 and is now due on demand. During the year ended December 31, 2017, the investor who holds the Smithline senior convertible note converted the remaining principal outstanding of $363 into shares of the Company’s common stock (refer to Note 16, Stockholders’ Deficit, for further information). As a result of these conversions, the Company recorded a loss on extinguishment of debt of $328 in the consolidated statement of operations for the year ended December 31, 2017. During the year ended December 31, 2016, the investor who holds the Smithline senior convertible note converted $372 of principal and accrued interest into shares of the Company’s common stock (refer to Note 16, Stockholders’ Deficit, for further information). Principal of $363 remained outstanding as of December 31, 2016. JGB (Cayman) Waltham Ltd. Senior Secured Convertible Debenture On December 29, 2015, the Company entered into a securities purchase agreement with JGB (Cayman) Waltham Ltd. (“JGB Waltham”) whereby the Company issued to JGB Waltham, for gross proceeds of $7,500, a $500 original issue discount senior secured convertible debenture in the principal amount of $7,500. The debenture had a maturity date of June 30, 2017, bore interest at 10% per annum, and was convertible into shares of the Company’s common stock at a conversion price equal to $532.00 per share, subject to adjustment as set forth in the debenture. The Company was required to pay interest to JGB Waltham on the aggregate unconverted and then outstanding principal amount of the debenture in arrears each calendar month and on the maturity date in cash, or, at the Company’s option and subject to the Company satisfying certain equity conditions, in shares of the Company’s common stock. In addition, December 29, 2016 was an interest payment date on which the Company was to pay to JGB Waltham a fixed amount, as additional interest under the debenture an amount equal to $350 in cash, shares of the Company’s common stock or a combination thereof. Commencing on February 29, 2016, JGB Waltham had the right, at its option, to require the Company to redeem up to $350 of the outstanding principal amount of the debenture per calendar month, which redemption could have been made in cash or, at the Company’s option and subject to satisfying certain equity conditions, in shares of the Company’s common stock. The debenture was guaranteed by the Company and certain of its subsidiaries and was secured by all assets of the Company. The total cash received by the Company as a result of this agreement was $3,730. On May 17, 2016, the Company entered into a Forbearance and Amendment Agreement (the “Debenture Forbearance Agreement”) with JGB Waltham pursuant to which JGB Waltham agreed to forbear action with respect to certain existing defaults in accordance with the terms of the Debenture Forbearance Agreement. The defaults, which were not monetary in nature, related to the Company’s inability to timely file its Annual Report on Form 10-K for the fiscal year ended December 31, 2015. In connection with the execution of the Debenture Forbearance Agreement, the Company issued to JGB Waltham an amended and restated senior secured convertible debenture (the “Amended and Restated Debenture”), which amended the original 10% senior secured convertible debenture issued to JGB Waltham on December 29, 2015 by: (i) reducing the conversion price at which the original debenture converts into shares of the Company’s common stock; and (ii) eliminating the provisions that provided for (A) the issuance of common stock at a discount to the market price of the common stock and (B) certain anti-dilution protections. The Amended and Restated Debenture was issued in the principal amount of $7,500, has a maturity date of May 31, 2019, bears interest at 0.67% per annum, and is convertible into shares of the Company’s common stock at a fixed conversion price equal to $320.00 per share, subject to equitable adjustments as set forth in the Amended and Restated Debenture. The Company shall pay interest to JGB Waltham on the aggregate unconverted and then outstanding principal amount of the Amended and Restated Debenture, payable monthly in arrears as of the last trading day of each calendar month and on May 31, 2019, in cash. In addition, the Company shall pay JGB Waltham an additional amount equal to 7.5% of the outstanding principal amount on the Amended and Restated Debenture on each of May 31, 2018 and May 31, 2019, subject to certain exceptions set forth in the Amended and Restated Debenture. JGB Waltham has the right, at its option, to require the Company to redeem up to $169 of the outstanding principal amount of the Amended and Restated Debenture plus the then-accrued and unpaid interest thereon each calendar month, in cash. The Amended and Restated Debenture contains standard events of default. In connection with the execution of the Debenture Forbearance Agreement, the Company issued to JGB Waltham a senior secured note (the “2.7 Note”), dated May 17, 2016, in the principal amount of $2,745 that matures on May 31, 2019, bears interest at 0.67% per annum and contains standard events of |
Derivative Instruments
Derivative Instruments | 12 Months Ended |
Dec. 31, 2017 | |
Derivative Instruments [Abstract] | |
DERIVATIVE INSTRUMENTS | 12. DERIVATIVE INSTRUMENTS The Company evaluates and accounts for derivatives conversion options embedded in its convertible and freestanding instruments in accordance with ASC Topic 815, Accounting for Derivative Instruments and Hedging Activities MidMarket Warrants The Company issued warrants to lenders under the MidMarket Loan Agreement in 2012. These warrants were outstanding at December 31, 2017 and 2016. The terms of the warrants issued in September 2012 originally provided, among other things, that the number of shares of common stock issuable upon exercise of such warrants amounted to 11.5% of the Company’s fully-diluted outstanding common stock and common stock equivalents, whether the common stock equivalents were fully vested and exercisable or not, and that the initial exercise price of such warrants was $2,000.00 per share of common stock, subject to adjustment. Pursuant to an amendment to the loan agreement, on March 22, 2013, the number of shares for which the warrants are exercisable was fixed at 586 shares. On September 17, 2012, when the warrants were issued, the Company recorded a derivative liability in the amount of $194. The amount was recorded as a debt discount and was being amortized over the original life of the related loans. The amount of the derivative liability was computed by using the Black-Scholes option pricing model, which is not materially different from a binomial lattice valuation methodology, to determine the value of the warrants issued. In accordance with ASC Topic 480, the warrants are classified as liabilities because there is a put feature that requires the Company to repurchase any shares of common stock issued upon exercise of the warrants. The derivative liability associated with this debt is revalued each reporting period and the increase or decrease is recorded to the consolidated statement of operations under the caption “change in fair value of derivative instruments.” At each reporting date, the Company performs an analysis of the fair value of the warrants using the binomial lattice pricing model and adjusts the fair value accordingly. On September 17, 2016, the fourth anniversary date of the warrants, the Company failed to meet the minimum adjusted earnings before interest, taxes, depreciation and amortization provisions set forth within the original warrant agreement. As such, the expiration date of the warrants was extended to September 17, 2018. On December 31, 2017 and 2016, the Company used a binomial pricing model to determine the fair value of the warrants on those dates and determined the fair value was $0. The Company recorded the change in the fair value of the derivative liability as a gain on fair value of derivative liability on the consolidated statement of operations for the year ended December 31, 2016 of $21. The fair value of the warrant derivative liability as of December 31, 2017 and 2016 was calculated using a binomial lattice pricing model with the following factors, assumptions and methodologies: Year Ended December 31, 2017 2016 Fair value of Company’s common stock $ 0.27 $ 12.00 Volatility (closing prices of 3-4 comparable public companies, including the Company’s historical volatility) 215 % 120 % Exercise price per share $ 1,600.00 - $2,000.00 $ 1,600.00 - $2,000.00 Estimated life 0.7 years 1.7 years Risk free interest rate (based on 1-year treasury rate) 1.65 % 0.12 % Forward Investments, LLC Convertible Feature On February 4, 2014 and March 28, 2014, Forward Investments, LLC made convertible loans to the Company for working capital purposes in the amounts of $1,800 and $1,200, respectively. Such loans are evidenced by convertible promissory notes that bear interest at the rate of 2% and 10% per annum, were to mature on June 30, 2015 and originally were convertible into shares of the Company’s common stock at an initial conversion price of $2,544.00 per share. The fair value of the embedded conversion feature at the date of issuance was $8,860. The Company recorded a debt discount of $6,475 and a loss on debt discount of $2,385. The debt discount is being amortized over the life of the loans. The Company used a Monte Carlo simulation on the date of issuance to determine the fair value of the embedded conversion feature. On October 22, 2014, the two convertible promissory notes were modified to reduce the initial conversion price of $2,544.00 to $1,572.00. As a result, the Company used a Monte Carlo simulation to determine the fair value on the date of modification. The Company recorded the change in the fair value of the derivative liability as a loss on fair value of derivative instruments of $310. On March 4, 2015, the Company and Forward Investments, LLC restructured the two promissory notes in order to extend the maturity dates thereof, reduce the seniority and reduce the interest rate accruing thereon (refer to Note 19, Related Parties, for further detail). The Company accounted for this restructuring of the promissory notes as a debt modification under ASC Topic 470-50. As part of the modification, the Company analyzed the embedded conversion feature and recorded a loss on fair value of derivative instruments of $2,600 on the consolidated statement of operations. In conjunction with the issuance of the 6.5% and 3% convertible notes issued on March 4, 2015, the Company recorded an additional derivative liability as a debt discount in the amount of $260 and $1,970, respectively, on the date of the issuance of the notes. The debt discounts are being amortized over the life of the loans. The Company used a Monte Carlo simulation on the date of issuance to determine the fair value of the embedded conversion features. On August 3, 2015, the Company and Forward Investments, LLC agreed to reset the conversion price of the convertible notes to $632.00 per share of the Company’s common stock. As a result, the Company used a Monte Carlo simulation to determine the fair value of the conversion features on the date of the agreement. On the date of the transaction, the fair value of the Forward Investments convertible notes conversion feature did not change and as such, no change in fair value of derivative instruments was recorded on the consolidated statement of operations. On October 26, 2015, the ratchet-down feature within the original agreement was triggered and the conversion price of the convertible notes was reset to $500.00 per share of the Company’s common stock. Prior to the triggering of the ratchet-down feature, the Company revalued the derivative and recorded a gain on fair value of derivative liabilities of $120 on the consolidated statement of operations. The Company then reduced the existing derivative liability related to the reset provision and recorded the change of $2,310 in the derivative liability value as a loss on change in fair value of derivative instruments on the consolidated statement of operations. On December 29, 2015, the ratchet-down feature within the original agreement was triggered and the conversion price of the convertible notes was reset to $312.00 per share of the Company’s common stock. Prior to the triggering of the ratchet-down feature, the Company revalued the derivative and recorded a gain on fair value of derivative liabilities of $3,380 on the consolidated statement of operations. The Company then reduced the existing derivative liability related to the reset provision and recorded the change of $4,140 in the derivative liability value as a loss on change in fair value of derivative instruments on the consolidated statement of operations. On December 31, 2017 and 2016, the fair value of the conversion feature of the Forward Investments, LLC convertible notes was $348 and $791, respectively, which is included in derivative financial instruments on the consolidated balance sheets. The Company recorded the change in the fair value of the derivative liability on the consolidated statement of operations for the years ended December 31, 2017 and 2016 as a gain of $443 and $12,743, respectively. The fair value of the Forward Investments, LLC convertible notes derivative at the measurement date was calculated using the Monte Carlo simulation with the following factors, assumptions and methodologies: December 31, 2017 December 31, 2016 Principal and interest amount $ 1,810 $ 582 $ 1,270 $ 2,438 $ 3,210 $ 390 $ 1,025 $ 4,373 Conversion price per share * * * * $ 312.00 $ 312.00 $ 312.00 $ 312.00 Risk free rate 2.00 % 2.00 % 1.39 % 1.39 % 1.93 % 1.93 % 0.51 % 0.85 % Life of conversion feature (in years) 4.0 4.0 0.3 0.0 5.0 5.0 0.3 1.0 Volatility 142 % 142 % 195 % 195 % 100 % 100 % 135 % 120 % * The conversion price per share is equal to the lesser of $7.80 or 95% of VWAP on the conversion date. Dominion Capital LLC August 6, 2015 Demand Promissory Note – Senior Convertible Note Embedded Features On August 6, 2015, the Company entered into a senior convertible note agreement with an investor whereby the Company issued a promissory note in the original principal amount of $2,105, with interest accruing at the rate of 12% per annum, which matured on January 6, 2017. The Company evaluated the senior convertible note’s settlement provisions and determined that the voluntary conversion feature and fundamental transaction clauses met the criteria to be classified as embedded derivatives as set forth in ASC 815, Derivatives and Hedging Distinguishing Liabilities from Equity On December 31, 2016, the Company used a Monte Carlo simulation to value the settlement features of the senior convertible note and determined the fair value to be $176. As a result of the conversion of the outstanding principal balance during 2017 (refer to Note 11, Term Loans, for further detail), the fair value of the corresponding derivative liability was $0 as of December 31, 2017. The Company recorded a gain on fair value of derivative instruments of $176 on the consolidated statement of operations for the year ended December 31, 2017. The Company recorded a gain of $163 on the consolidated statement of operations for the year ended December 31, 2016. The fair value of the demand promissory note derivative at the measurement date was calculated using the Monte Carlo simulation with the following factors, assumptions and methodologies: December 31, Principal amount $ 1,198 Conversion price per share $ 500.00 Conversion trigger price per share None Risk free rate 0.44 % Life of conversion feature (in years) 0.10 Volatility 135 % November 12, 2015 Demand Promissory Note – Senior Convertible Note Embedded Features On November 12, 2015, the Company entered into a securities purchase agreement with an investor whereby the Company issued a senior convertible note, for cash proceeds of $500, in the original principal amount of $525. The Company evaluated the senior convertible note’s settlement provisions and determined that the voluntary conversion feature and fundamental transaction clauses met the criteria to be classified as embedded derivatives as set forth in ASC 815, Derivatives and Hedging Distinguishing Liabilities from Equity As a result of the conversion of the outstanding principal balance (see Note 11, Term Loans, for further detail), the fair value of the corresponding derivative liability was $0 as of December 31, 2016. The Company recorded a gain of $155 on the consolidated statement of operations for the year ended December 31, 2016. November 12, 2015 Exchange Agreement Tranches – Senior Convertible Note Embedded Features On November 12, 2015, the Company entered into an exchange agreement with an investor whereby the Company exchanged a portion of the senior secured note originally issued by the Company to GPB Life Science Holdings, LLC on December 3, 2014 and subsequently assigned to the investor, for new senior convertible notes issued in three tranches of $500 for a total principal amount of $1,500. The notes had a term of one year, bore interest at 12% per annum, and were convertible into shares of the Company’s common stock at a conversion price equal to $1.25 per share, subject to adjustment as set forth in the notes. On November 13, 2015, the Company issued to the investor the first tranche of senior secured notes in the principal amount of $500. The Company evaluated the senior convertible note’s settlement provisions and determined that the voluntary conversion feature and fundamental transaction clauses met the criteria to be classified as embedded derivatives as set forth in ASC 815, Derivatives and Hedging Distinguishing Liabilities from Equity On November 27, 2015, the Company issued to the investor the second tranche of senior secured notes in the principal amount of $500. The Company evaluated the senior convertible note’s settlement provisions and determined that the voluntary conversion feature and fundamental transaction clauses met the criteria to be classified as embedded derivatives as set forth in ASC 815, Derivatives and Hedging Distinguishing Liabilities from Equity On December 11, 2015, the Company issued to the investor the third tranche of senior secured notes in the principal amount of $500. The Company evaluated the senior convertible note’s settlement provisions and determined that the voluntary conversion feature and fundamental transaction clauses met the criteria to be classified as embedded derivatives as set forth in ASC 815, Derivatives and Hedging Distinguishing Liabilities from Equity On December 31, 2015, the Company used a Monte Carlo simulation to value the settlement features of the three tranches of senior convertible notes and determined the fair value to be $57 related to tranche one, $78 related to tranche two, and $118 related to tranche three. The Company recorded gains on fair value of derivative instruments of $107 related to tranche one and $127 related to tranche two, and a loss on fair value of derivative instruments of $9 related to tranche three on the consolidated statement of operations for the year ended December 31, 2015. During the year ended December 31, 2016, the three tranches of senior convertible notes were converted into shares of the Company’s common stock (see Note 11, Term Loans, for further detail). The Company recorded the change in fair value of the derivative liability as a gain of $253 in the consolidated statement of operations for the year ended December 31, 2016. Dominion Capital LLC November 4, 2016 Exchange Agreement – Senior Convertible Debt Features On November 4, 2016, the Company entered into an exchange agreement with the holder of the September 15, 2016 term promissory note. The principal amount was increased by $40, and the note became convertible into shares of the Company’s common stock. The note is convertible at the lower of (i) $40.00, or (ii) 75% of the lowest VWAP day for the 15 days prior to the conversion date (for additional detail refer to Note 11, Term Loans). The Company evaluated the senior convertible note’s settlement provisions and determined that the voluntary conversion feature and fundamental transaction clauses met the criteria to be classified as embedded derivatives as set forth in ASC 815, Derivatives and Hedging and ASC 480, Distinguishing Liabilities from Equity. On November 4, 2016, the Company used a Monte Carlo simulation to value the settlement features. The Company ascribed a value of $242 related to the conversion feature and recorded this item on the consolidated balance sheets as a derivative liability. On December 31, 2017 and 2016, the Company used a Monte Carlo simulation to value the settlement features of the senior convertible note and determined the fair value to be $59 and $78, respectively. The Company recorded the change in the fair value of the derivative liability on the consolidated statement of operations for the years ended December 31, 2017 and 2016 as a gain of $19 and $164, respectively. The fair value of the senior convertible note derivative at the measurement date was calculated using the Monte Carlo simulation with the following factors, assumptions and methodologies: December 31, December 31, Principal amount and guaranteed interest $ 75 $ 605 Conversion price per share * $ 40.00 Conversion trigger price per share None None Risk free rate 1.39 % 0.76 % Life of conversion feature (in years) 0.25 0.80 Volatility 195 % 120 % * The conversion price per share is equal to the lesser of $10.00 or 75% of average daily VWAP for the fifteen trading days prior to the conversion date. Dominion Capital LLC January 31, 2017 – Senior Convertible Debt Features On January 31, 2017, the Company entered into a senior convertible promissory note with Dominion Capital, LLC in the original principal amount of $70, with interest accruing at the rate of 6% per annum, which matured on January 31, 2018. The note is convertible at the lower of (i) $40.00 or (ii) 75% of the lowest VWAP in the 15 trading days prior to the conversion date (for additional detail refer to Note 11, Term Loans). The Company evaluated the senior convertible note’s settlement provisions and determined that the voluntary conversion feature and fundamental transaction clauses met the criteria to be classified as embedded derivatives as set forth in ASC 815, Derivatives and Hedging and ASC 480, Distinguishing Liabilities from Equity. On January 31, 2017, the Company used a Monte Carlo simulation to value the settlement features. The Company ascribed a value of $38 related to the conversion feature and recorded this item on the consolidated balance sheets as a derivative liability. On December 31, 2017, the Company used a Monte Carlo simulation to value the settlement features of the senior convertible note and determined the fair value to be $81. The Company recorded a loss of $43 on the consolidated statement of operations for the year ended December 31, 2017. The fair value of the senior convertible note derivative at the measurement date was calculated using the Monte Carlo simulation with the following factors, assumptions and methodologies: December 31, Principal amount and guaranteed interest $ 74 Conversion price per share * Conversion trigger price per share None Risk free rate 1.28 % Life of conversion feature (in years) 0.08 Volatility 310 % * The conversion price per share is equal to 70% of average daily VWAP for the fifteen trading days prior to the conversion date. Smithline Senior Convertible Note Embedded Features On August 6, 2015, the Company issued to Smithline a senior convertible note in the principal amount of $526, with interest accruing at the rate of 12% per annum, which matures on January 11, 2017. The Company evaluated the senior convertible note’s settlement provisions and determined that the voluntary conversion feature and fundamental transaction clauses met the criteria to be classified as embedded derivatives as set forth in ASC 815, Derivatives and Hedging Distinguishing Liabilities from Equity On July 20, 2016 and September 1, 2016, principal of $55 and $97, respectively, was added to the Smithline senior convertible note (refer to Note 11, Term Loans, for additional detail). The Smithline senior convertible note matured on January 11, 2017 and was due on demand. During the year ended December 31, 2017, Smithline converted the outstanding principal balance into shares of the Company’s common stock (refer to Note 11, Term Loans, for further detail). On December 31, 2016, the Company used a Monte Carlo simulation to value the settlement features of the senior convertible notes and determined the fair value to be $0. The Company recorded the change in the fair value of the derivative liability for the year December 31, 2016 as a gain in the consolidated statements of operations of $85. JGB (Cayman) Waltham Ltd. Senior Secured Convertible Debenture Features On December 29, 2015, the Company entered into a securities purchase agreement with JGB Waltham whereby the Company issued to JGB Waltham, for gross proceeds of $7,500, a 10% original issue discount senior secured convertible debenture in the aggregate principal amount of $7,500. The Company evaluated the senior convertible note’s settlement provisions and determined that the voluntary conversion feature and fundamental transaction clauses met the criteria to be classified as embedded derivatives as set forth in ASC 815, Derivatives and Hedging Distinguishing Liabilities from Equity On May 17, 2016, the Company entered into the Debenture Forbearance Agreement with JGB Waltham pursuant to which JGB Waltham agreed to forbear action with respect to certain existing defaults in accordance with the terms of the Debenture Forbearance Agreement (Refer to Note 11, Term Loans, for further details). The Company evaluated the Debenture Forbearance Agreement and accounted for the transaction as a debt extinguishment in accordance with ASC Topic 470-50. In accordance with ASC Topic 470-50, the Company used a Monte Carlo simulation to revalue the settlement features associated with the Debenture Forbearance Agreement. The Company recorded the change in the settlement features as a loss to change in fair value of derivative instruments of $1,154 to its consolidated statement of operations on May 17, 2016. On May 23, 2016, the Company entered into the Amended Agreement with JGB Concord, JGB Waltham, VaultLogix, and the Guarantors. The Company accounted for this Amended Agreement in accordance with ASC Topic 470-50. In accordance with ASC Topic 470-50, the Company accounted for the Amended Agreement as a debt modification and utilized a Monte Carlo simulation to determine the fair value of the settlement features. The Company recorded a loss on the fair value of the settlement features to change in fair value of derivative instruments of $41 on the consolidated statement of operations as of May 23, 2016. On June 23, 2016, the Company entered into an amended agreement with JGB Concord and JGB Waltham (refer to Note 11, Term Loans, for further detail). The Company accounted for the amended agreement as a debt extinguishment in accordance with ASC Topic 470-50. In accordance with ASC Topic 470-50, the Company used a Monte Carlo simulation to revalue the settlement features associated with the Amended Agreement. The Company recorded the change in the settlement features as a loss to change in fair value of derivative instruments of $486 to its consolidated statement of operations on June 23, 2016. On September 1, 2016, the Company entered into an amended agreement with JGB Concord and JGB Waltham (refer to Note 11, Term Loans, for further detail). The Company accounted for the amended agreement in regards to the December Debenture as a debt modification in accordance with ASC Topic 470-50. In accordance with ASC Topic 470-50, the Company used a Monte Carlo simulation to revalue the settlement features associated with the Amended Agreement. The Company recorded the change in the settlement features as a gain to change in fair value of derivative instruments of $1,552 to its consolidated statement of operations on September 1, 2016. On February 28, 2017, the Company entered into a consent agreement with JGB Concord and JGB Waltham (refer to Note 11, Term Loans, for further detail). The Company accounted for the amended agreement in regards to the JGB Waltham debenture as a debt extinguishment in accordance with ASC Topic 470-50. In accordance with ASC Topic 470-50, the Company used a Monte Carlo simulation to revalue the settlement features associated with the agreement. The Company recorded the change in the settlement features as a loss to change in fair value of derivative instruments of $1,752 to its consolidated statement of operations for the year ended December 31, 2017. On March 9, 2017, JGB (Cayman) Waltham entered into an Assignment and Assumption agreement with MEF I, LP (refer to Note 11, Term Loans, for further detail). The Company accounted for the assumption agreement in regards to the JGB Waltham debenture as a debt extinguishment in accordance with ASC Topic 470-50. In accordance with ASC Topic 470-50, the Company used a Monte Carlo simulation to revalue the settlement features associated with the agreement. The Company recorded the change in the settlement features as a loss to change in fair value of derivative instruments of $349 to its consolidated statement of operations for the year ended December 31, 2017. On December 31, 2017 and 2016, the Company used a Monte Carlo simulation to value the settlement features of the senior convertible notes issued to JGB Waltham and determined the fair value to be $1,827 and $533, respectively. The Company recorded the change in the fair value of the derivative liability for the years ended December 31, 2017 and 2016 as a gain of $814 and $3,173, respectively, which includes all extinguishment and conversion accounting for the periods in accordance with ASC Topic 470-50. These changes were recorded in the consolidated statements of operations. The fair value of the JGB (Cayman) Waltham Ltd. derivative at the measurement date was calculated using the Monte Carlo simulation with the following factors, assumptions and methodologies: December 31, December 31, Principal amount $ 3,091 $ 5,034 Conversion price per share * $ 80.00 Conversion trigger price per share None $ 800.00 Risk free rate 1.76 % 1.31 % Life of conversion feature (in years) 1.41 2.41 Volatility 201 % 100 % * The conversion price per share is equal to the lesser of $4.00 or 80% of VWAP on the conversion date. JGB (Cayman) Waltham Ltd. 2.7 Note Convertible Debenture Features On September 1, 2016, the Company entered into an amended agreement with JGB Concord and JGB Waltham (refer to Note 11, Term Loans, for further detail). The Company accounted for the amended agreement in regards to the 2.7 Note as a debt extinguishment in accordance with ASC Topic 470-50. In accordance with ASC Topic 470-50, the Company used a Monte Carlo simulation to revalue the settlement features associated with the Amended Agreement and determined that the fair value of the features was $1,200 as of September 1, 2016 and recorded these items on the consolidated balance sheets as a derivative liability. The debt discounts are being amortized over the life of the loan. On February 28, 2017, the Company entered into a consent agreement with JGB Concord and JGB Waltham (refer to Note 11, Term Loans, for further detail). The Company accounted for the amended agreement in regards to the JGB Waltham 2.7 Note as a debt extinguishment in accordance with ASC Topic 470-50. In accordance with ASC Topic 470-50, the Company used a Monte Carlo simulation to revalue the settlement features associated with the agreement. The Company recorded the change in the settlement features as a loss to change in fair value of derivative instruments of $141 to its consolidated statement of operations for the year ended December 31, 2017. On December 31, 2017 and 2016, the Company used a Monte Carlo simulation to value the settlement feature of the 2.7 Note and determined the fair value to be $120 and $119, respectively. The Company recorded the change in the fair value of the derivative liability as a gain of $140 and $1,081 for the years ended December 31, 2017 and 2016, respectively, which includes all extinguishment accounting for the periods in accordance with ASC Topic 470-50. These changes were recorded in the consolidated statement of operations. The fair value of the JGB Waltham derivative at the measurement date was calculated using the Monte Carlo simulation with the following factors, assumptions and methodologies: December 31, December 31, Principal amount $ 294 $ 593 Conversion price per share * $ 80.00 Conversion trigger price per share None $ 800.00 Risk free rate 1.39 % 0.62 % Life of conversion feature (in years) 0.00 0.58 Volatility 195 % 130 % * The conversion price per share is equal to the lesser of $4.00 or 80% of VWAP on the conversion date. JGB (Cayman) Concord Ltd. Senior Secured Convertible Note On February 17, 2016, the Company entered into a securities exchange agreement by and among the Company, VaultLogix, and JGB Concord, whereby the Company exchanged the White Oak Global Advisors, LLC promissory note and subsequently assigned to the lender party a new 8.25% senior secured convertible note dated February 18, 2016 in the aggregate principal amount of $11,601 (refer to Note 11, Term Loans, for further details). The Company evaluated the senior secured convertible note’s settlement provisions and determined that the conversion feature and fundamental transaction clauses met the criteria to be classified as embedded derivatives as set forth in ASC 815, Derivatives and Hedging Distinguishing Liabilities from Equity On May 17, 2016, the Company entered into the Note Forbearance Agreement with JGB Concord pursuant to which JGB Concord agreed to forbear action with respect to certain existing defaults in accordance with the terms of the Note Forbearance Agreement (Refer to Note 11, Term Loans, for further details). The Company evaluated the Note Forbearance Agreement and accounted for the transaction as a debt extinguishment in accordance with ASC Topic 470-50. In accordance with ASC Topic 470-50, the Company used a Monte Carlo simulation to revalue the settlement features associated with the Note Forbearance Agreement. The Company recorded the change in the settlement features as a loss to change in fair value of derivative instruments of $2,196 to its consolidated statement of operations on May 17, 2016. On May 23, 2016, the Company entered into the Amended Agreement with JGB Concord, JGB Waltham, VaultLogix, and the Guarantors. The Company accounted for this Amended Agreement in accordance with ASC Topic 470-50. In accordance with ASC Topic 470-50, the Company accounted for the Amended Agreement as a debt modification and utilized a Monte Carlo simulation to determine the fair value of the settlement features. The Company recorded a loss on the fair value of the settlement features to change in fair value of derivative instruments of $79 on the consolidated statement of operations as of May 23, 2016. On June 23, 2016, the Company entered into an amended agreement with JGB Concord and JGB Waltham (refer to Note 11, Term Loans, for further detail). The Company accounted for the amended agreement as a debt extinguishment in accordance with ASC Topic 470-50. In accordance with ASC Topic 470-50, the Company used a Monte Carlo simulation to revalue the settlement features associated with the Amended Agreement to determine the fair value. The Company recorded the change in the settlement features as a loss to change in fair value of derivative instruments of $924 to its consolidated statement of operations on June 23, 2016. As part of the June 23, 2016 amended agreement with JGB Concord, the Company issued 2,250 shares of the Company’s common stock on June 23, 2016 to JGB Concord (Refer to Note 11, Stockholders’ Deficit, for further detail), and agreed to a make-whole provision whereby the Company would pay JGB Concord in cash the difference between $376.00 per share of the Company’s common stock and the average volume weighted average price per share of the Company’s common stock sixty days after shares of the Company’s common stock were freely tradable. The Company accounted for the make-whole provision within the June 23, 2016 amendment agreement as a derivative liability and utilized a binomial lattice model to ascribe a value of $280, which was recorded as a derivative liability on the Company’s consolidated balance sheet and as a loss on extinguishment of debt on the Company’s consolidated statement of operations on June 23, 2016. On September 1, 2016, the Company entered into an amended agreement with JGB Concord and JGB Waltham (refer to Note 11, Term Loans, for further detail). The Company accounted for the amended agreement as a debt extinguishment in accordance with ASC Topic 470-50. In accordance with ASC Topic 470-50, the Company used a Monte Carlo simulation to revalue the settlement features associated with the Amended Agreement. The Company recorded the change in the settlement features as a gain to change in fair value of derivative instruments of $1,308 to its consolidated statement of operations on September 1, 2016. On February 28, 2017, the Company entered into a consent agreement with JGB Concord and JGB Waltham (refer to Note 11, Term Loans, for further detail). The Company accounted for the amended agreement in regards to the JGB Concord Debenture as a debt extinguishment in accordance with ASC Topic 470-50. In accordance with ASC Topic 470-50, the Company used a Monte Carlo simulation to |
Income Taxes
Income Taxes | 12 Months Ended |
Dec. 31, 2017 | |
Income Taxes [Abstract] | |
INCOME TAXES | 13. INCOME TAXES The Company’s pre-tax loss for the years ended December 31, 2017 and 2016 consisted of the following: Years Ended December 31, 2017 2016 Domestic $ (35,923 ) $ (20,678 ) Foreign (8,082 ) 85 Pre-tax Loss $ (44,005 ) $ (20,593 ) The provision for (benefit from) income taxes for the years ended December 31, 2017 and 2016 was as follows: Years Ended December 31, 2017 2016 Federal $ - $ - State 102 81 Foreign 10 13 Total current $ 112 $ 94 Deferred: Federal $ (690 ) $ 100 State (94 ) 13 Total deferred (784 ) 113 Total provision for (benefit from) income taxes $ (672 ) $ 207 The Company’s income taxes were calculated on the basis of $277 of foreign net income. The Company’s effective tax rate for the years ended December 31, 2017 and 2016 differed from the U.S. federal statutory rate as follows: Years Ended December 31, 2017 2016 % % Federal tax benefit at statutory rate (34.0 ) (34.0 ) Permanent differences 47.6 120.4 State tax benefit, net of Federal benefits (14.6 ) (4.4 ) Other 4.1 2.2 Effect of foreign income taxed in rates other than the U.S. Federal statutory rate 1.5 0.1 Net change in valuation allowance (7.1 ) (83.4 ) Foreign tax credits - (0.1 ) Benefit (2.5 ) 0.8 The Company has not provided for United States federal income and foreign withholding taxes on any undistributed earnings from non-United States operations because such earnings are intended to be reinvested indefinitely outside of the United States. If these earnings were distributed, foreign tax credits may become available under current law to reduce or eliminate the resulting United States income tax liability. As of December 31, 2017, there was $1,196 in cumulative foreign earnings upon which United States income taxes had not been provided. The tax effects of temporary differences and carryforwards that gave rise to significant portions of the deferred tax assets and liabilities were as follows: Years Ended December 31, 2017 2016 Net operating loss carry forwards $ 19,396 $ 6,582 Depreciation 163 151 Accruals and reserves 1,401 721 Capital loss carry forwards 74 74 Credits 3 3 Stock-based compensation 3,882 3,297 Total assets 24,919 10,828 Convertible debt (1,264 ) (1,264 ) Intangible assets (239 ) (2,116 ) Total liabilities (1,503 ) (3,380 ) Less: Valuation allowance (23,655 ) (8,450 ) Net deferred tax liabilities $ (239 ) $ (1,002 ) As of December 31, 2017 and 2016, the Company had federal net operating loss carryforwards (“NOL’s”) of approximately $24,242 and $11,428, respectively, and state NOL’s of approximately $48,241 and $35,534, respectively, that will be available to reduce future taxable income, if any. These NOL’s begin to expire in 2025. In addition, as of December 31, 2017 and 2016, the Company had federal tax credit carryforwards of $3 and $3, respectively, available to reduce future taxes. These credits begin to expire in 2022. As of December 31, 2017, the Company also had a foreign net operating loss carryforward of $120, which will expire in 2025. On December 22, 2017, the U.S. government enacted comprehensive tax legislation commonly referred to as the Tax Cut and Jobs Act (the “Tax Act”). The Tax Act establishes new tax laws that affect 2018 and future years, including a reduction in the U.S. federal corporate income tax rate to 21%, effective January 1, 2018. For certain deferred tax assets and deferred tax liabilities, we have recorded a provisional decrease of $96, with a corresponding adjustment to valuation allowance of $96 as of December 31, 2017. Sections 382 and 383 of the Internal Revenue Code of 1986, as amended, provide for annual limitations on the utilization of net operating loss, capital loss and credit carryforwards if the Company were to undergo an ownership change, as defined in Section 382 of the Code. In general, an ownership change occurs whenever the percentage of the shares of a corporation owned, directly or indirectly, by 5-percent shareholders, as defined in Section 382 of the Code, increases by more than 50 percentage points over the lowest percentage of the shares of such corporation owned, directly or indirectly, by such 5-percent shareholders at any time over the preceding three years. In the event such ownership change occurs, the annual limitation may result in the expiration of net operating losses capital losses and credits prior to full utilization. Following its Initial Public Offering (IPO), the Company conducted an analysis of whether an ownership change had occurred. The Company takes these limitations into account in determining its available NOL’s. The Company has not completed a study to assess whether another ownership change has occurred or whether there have been multiple ownership changes since the Company’s IPO. However, in 2016, as a result of the issuance of common shares upon debt conversions, the Company believes an ownership change under Sec. 382 may have occurred. As a result of this ownership change certain of the Company’s net operating loss, capital loss and credit carryforwards will expire prior to full utilization. The Company has reduced its carryforwards by those amounts in the disclosures herein. The Company performs an analysis each year to determine whether the expected future income will more likely than not be sufficient to realize the deferred tax assets. The Company's recent operating results and projections of future income weighed heavily in the Company's overall assessment. Prior to 2012, there were no provisions (or benefits) for income taxes because the Company had sustained cumulative losses since the commencement of operations. The Company’s continuing practice is to recognize interest and/or penalties related to income tax matters as a component of income tax expense. As of December 31, 2017 and 2016, there was no accrued interest and penalties related to uncertain tax positions. The Company is subject to U.S. federal income taxes and to income taxes in various states in the United States. Tax regulations within each jurisdiction are subject to the interpretation of the related tax laws and regulations and require significant judgment to apply. Due to the Company's net operating loss carryforwards all years remain open to examination by the major domestic taxing jurisdictions to which the Company is subject. In addition, all of the net operating loss and credit carryforwards that may be used in future years are still subject to adjustment. The Internal Revenue Service (IRS) has completed its examination of the Company’s 2013 Corporation Income tax Return. The Company has agreed to certain adjustments proposed by the IRS and is appealing others. Separately, the IRS has questioned the Company’s classification of certain individuals as independent contractors rather than employees. The Company estimates its potential liability to be $165 but the liability, if any, upon final disposition of these matters is uncertain. |
Concentrations of Credit Risk
Concentrations of Credit Risk | 12 Months Ended |
Dec. 31, 2017 | |
Concentrations of Credit Risk [Abstract] | |
CONCENTRATIONS OF CREDIT RISK | 14. CONCENTRATIONS OF CREDIT RISK Financial instruments that potentially subject the Company to concentration of credit risk consist of cash in financial institutions. The Company maintains deposits in federally-insured financial institutions. Cash held with financial institutions may exceed the amount of insurance provided on such deposits; however, management believes the Company is not exposed to significant credit risk due to the financial position of the financial institutions in which those deposits are held. The Company grants credit under normal payment terms, generally without collateral, to its customers. These customers primarily consist of telephone companies, cable television multiple system operators and electric and gas utilities. With respect to a portion of the services provided to these customers, the Company has certain statutory lien rights that may in certain circumstances enhance the Company’s collection efforts. Adverse changes in overall business and economic factors may impact the Company’s customers and increase credit risks. These risks may be heightened as a result of the current economic developments and market volatility. In the past, some of the Company’s customers have experienced significant financial difficulties and likewise, some may experience financial difficulties in the future. These difficulties expose the Company to increased risks related to the collectability of amounts due for services performed. The Company believes that none of its significant customers were experiencing financial difficulties that would impact the collectability of the Company’s trade accounts receivable as of December 31, 2017 and 2016. For the year ended December 31, 2017, the Company had three customers accounting for 10% or greater of consolidated revenues. The Company did not have a customer accounting for 10% or greater of consolidated revenues for the year ended December 31, 2016. As of, and for the year ended, December 31, 2017, concentrations of significant customers within the applications and infrastructure and professional services segments were as follows: 2017 Accounts Receivable Revenues Uline 4 % 17 % Ericsson, Inc 16 % 11 % AT&T Inc. 11 % 11 % Geographic Concentration Risk Substantially all of the Company’s customers are located within the United States and Puerto Rico. |
Commitments and Contingencies
Commitments and Contingencies | 12 Months Ended |
Dec. 31, 2017 | |
Commitments and Contingencies [Abstract] | |
COMMITMENTS AND CONTINGENCIES | 15. COMMITMENTS AND CONTINGENCIES The Company leases certain of its properties under leases that expire on various dates through 2020. Some of these agreements include escalation clauses and provide for renewal options ranging from one to five years. Rent expense incurred under the Company’s operating leases amounted to $441 and $692 during the years ended December 31, 2017 and 2016, respectively. The future minimum obligation during each year through 2020 under the leases with non-cancelable terms in excess of one year is as follows: Years Ending December 31, Future Minimum Lease Payments 2018 $ 95 2019 97 2020 57 Total $ 249 |
Stockholders' Deficit
Stockholders' Deficit | 12 Months Ended |
Dec. 31, 2017 | |
Stockholders' Deficit/Preferred Stock [Abstract] | |
STOCKHOLDERS' DEFICIT | 16. STOCKHOLDERS’ DEFICIT Preferred Stock: Designation of Series J Preferred Stock On July 20, 2017, the Board of Directors designated 1,000 shares of the Company’s authorized preferred stock, with a par value of $0.0001 per share, as Series J preferred stock. The Series J preferred stock has a stated value of $4,916 per share, is not redeemable and, except as otherwise required by law, shall be voted together with the Company’s common stock and any other series of preferred stock then outstanding, and not as a separate class, at any meeting of the stockholders of the Company upon any matter upon which the holders of common stock have the right to vote, except that the aggregate voting power of the Series J preferred stock shall be equal to 51% of the total voting power of the Company. The holders of Series J preferred stock also have a liquidation preference in the amount of $4,916 per share that is senior to the distributions, if any, to be paid to the holders of common stock. Exchange of related party debt for preferred stock On July 25, 2017, Mark Munro, CEO, and Mark Durfee, Board Member, exchanged their outstanding related party debt for the Company’s Series J preferred stock with special voting rights. Mark Munro converted principal and interest of $1,709 and $195, respectively. Mark Durfee converted principal and interest of $2,550 and $464, respectively. As a result of the exchange, Mark Munro and Mark Durfee received 387 and 613 shares, respectively, of the Company’s Series J preferred stock (Refer to Note 13, Related Parties, for further detail). The fair value of the Series J Preferred Stock on date of issuance was $1,753. The difference between the fair value of the preferred stock and the debt converted was included in additional paid in capital. Common Stock: Public Offering On November 5, 2013, the Company completed an offering of its common stock in which the Company sold 3,125 shares of common stock at a price of $1,600.00 per share. In connection with the offering, 1,563 warrants to purchase 1,563 shares of common stock were also sold at $4.00 per warrant. The net proceeds to the Company from the offering after underwriting discounts and expenses was $4,550. Of the 1,563 warrants sold, 278 were exercised as of December 31, 2017. Basis for determining fair value of shares issued The Company determines the value at which to record common stock issued in connection with acquisitions, debt conversions and settlements, loan modifications and employee and non-employee compensation arrangements, using the market price of the common stock on the date of issuance. Issuance of shares of common stock to non-employees for services During February 2016, the Company issued 453 shares of its common stock to consultants in exchange for consulting services relating to corporate matters. The shares were valued at fair value at $208.00 per share and were immediately vested. The Company recorded $9 to salaries and wages expense as $85 was accrued as of December 31, 2015. During March 2016, the Company issued 228 shares of its common stock to consultants in exchange for consulting services relating to corporate matters. The shares were valued at fair value at $272.00 per share and were immediately vested. The Company recorded $62 to salaries and wages expense. During July 2016, the Company issued 706 shares of common stock to consultants in exchange for consulting services relating to corporate matters. Of the shares issued, 143 were immediately vested and valued at fair value of $232.00. The Company recorded $33 to salaries and wages expense. The remaining 563 shares vest on varying schedules through December 31, 2018. During January 2017, the Company issued 1,250 shares of its common stock to an investor relations firm for services provided to the Company. The shares were valued at fair value at $10.00 per share and were immediately vested. The Company recorded $12 to salaries and wages expense on the consolidated statement of operations for the year ended December 31, 2017. Issuance of shares of common stock to employees for services During January 2017, the Company issued 13,000 shares of its common stock to employees and directors for services performed. The shares were valued at fair value of $7.00 per share and vest on varying schedules through January 26, 2020. The Company recorded $1 to salaries and wages expense on the consolidated statement of operations for the year ended December 31, 2017. Issuance of shares pursuant to acquisition of assets of SDN Essentials, LLC In January 2016, the Company issued 2,500 shares of common stock valued at $400.00 per share in connection with the acquisition of assets of SDNE. In addition to the shares, the Company paid $50 in cash and an earn out provision of $515, subject to SDNE meeting certain revenue targets. During July 2016, the Company issued a pool of 125 shares of the Company’s common stock, which was allocated among employees of SDNE. Issuance of shares pursuant to Dominion Capital LLC promissory notes In January 2016, the Company issued an aggregate of 1,167 shares of common stock to a third-party lender in satisfaction of notes payable aggregating $583. The shares were issued at $500.00 per share, per the terms of the notes payable. In February 2016, the Company issued an aggregate of 1,623 shares of common stock to a third-party lender in satisfaction of notes payable and accrued interest aggregating $590. The shares were issued at $500.00 per share, per the terms of the notes payable. In March 2016, the Company issued an aggregate of 1,007 shares of common stock to a third-party lender in satisfaction of notes payable aggregating $289. The shares were issued at $500.00 per share, per the terms of the notes payable. In June 2016, the Company issued an aggregate of 712 shares of common stock to a third-party lender in satisfaction of notes payable and accrued interest aggregating $156. The shares were issued at $220.00 per share, per the terms of the notes payable. In July 2016, the Company issued an aggregate of 1472 shares of common stock to a third-party lender in satisfaction of notes payable and accrued interest aggregating $283. The shares were issued at average fair value of $184.00 per share, per the terms of the agreements. In August 2016, the Company issued an aggregate of 1,509 shares of common stock to a third-party lender in satisfaction of notes payable and accrued interest aggregating $207. The shares were issued at average fair value of $140.00 per share, per the terms of the agreements. In September 2016, the Company issued an aggregate of 5,162 shares of common stock to a third-party lender in satisfaction of notes payable and accrued interest aggregating $287. The shares were issued at average fair value of $60.00 per share, per the terms of the agreements. In October 2016, the Company issued an aggregate of 7,756 shares of common stock to a third-party lender in satisfaction of notes payable and accrued interest aggregating $196. The shares were issued at average fair value of $24.00 per share, per the terms of the agreements. In November 2016, the Company issued an aggregate of 16,670 shares of common stock to a third-party lender in satisfaction of notes payable and accrued interest aggregating $224. The shares were issued at average fair value of $12.00 per share, per the terms of the agreements. In December 2016, the Company issued an aggregate of 41,241 shares of common stock to a third-party lender in satisfaction of notes payable and accrued interest aggregating $268. The shares were issued at average fair value of $8.00 per share, per the terms of the agreements. Issuance of shares pursuant to Dominion Capital LLC August 6, 2015 promissory note During January 2017, the Company issued an aggregate of 56,276 shares of common stock to Dominion Capital LLC upon the conversion of $333 of principal and accrued interest of a note outstanding. The shares were issued at $600.00 per share, per the terms of the notes payable. During February 2017, the Company issued an aggregate of 67,502 shares of common stock to Dominion Capital LLC upon the conversion of $357 of principal and accrued interest of a note outstanding. The shares were issued at $5.00 per share, per the terms of the notes payable. During March 2017, the Company issued an aggregate of 133,323 shares of common stock to Dominion Capital LLC upon the conversion of $528 of principal and accrued interest of a note outstanding. The shares were issued at $4.00 per share, per the terms of the notes payable. Issuance of shares pursuant to Dominion Capital LLC November 4, 2016 promissory note During July 2017, the Company issued an aggregate of 178,119 shares of common stock to Dominion Capital LLC upon the conversion of $509 of principal and accrued interest of a note outstanding. The shares were issued at an average of $3.00 per share, per the terms of the notes payable. During October 2017, the Company issued an aggregate of 63,691 shares of common stock to Dominion Capital LLC upon the conversion of $20 of principal and accrued interest of a note outstanding. The shares were issued at an average of $0.31 per share, per the terms of the notes payable. During November 2017, the Company issued an aggregate of 212,718 shares of common stock to Dominion Capital LLC upon the conversion of $57 of principal and accrued interest of a note outstanding. The shares were issued at an average of $0.27 per share, per the terms of the notes payable. Issuance of shares pursuant to Smithline senior convertible promissory note In February 2016, the Company issued an aggregate of 499 shares of common stock to a third-party lender in satisfaction of notes payable and accrued interest aggregating $75. The shares were issued at $152.00 per share, per the terms of the note payable. In March 2016, the Company issued an aggregate of 265 shares of common stock to a third-party lender in satisfaction of notes payable aggregating $49. The shares were issued at $184.00 per share, per the terms of the note payable. In April 2016, the Company issued an aggregate of 185 shares of common stock to a third-party lender in satisfaction of notes payable and accrued interest aggregating $48. The shares were issued at $260.00 per share, per the terms of the note payable. In May 2016, the Company issued an aggregate of 222 shares of common stock to a third-party lender in satisfaction of notes payable and accrued interest aggregating $48. The shares were issued at $216.00 per share, per the terms of the note payable. In June 2016, the Company issued an aggregate of 171 shares of common stock to a third-party lender in satisfaction of notes payable and accrued interest aggregating $47. The shares were issued at $276.00 per share, per the terms of the note payable. In July 2016, the Company issued an aggregate of 246 shares of common stock to a third-party lender in satisfaction of notes payable and accrued interest aggregating $47. The shares were issued at $192.00 per share, per the terms of the note payable. In August 2016, the Company issued an aggregate of 377 shares of common stock to a third-party lender in satisfaction of notes payable and accrued interest aggregating $57. The shares were issued at $152.00 per share, per the terms of the note payable. During February 2017, the Company issued 4,577 shares of its common stock to Smithline upon the conversion of $23 of principal of a note outstanding. The shares were issued at $5.00 per share, per the terms of the note payable. During March 2017, the Company issued 53,952 shares of its common stock to Smithline upon the conversion of $223 of principal of a note outstanding. The shares were issued at $4.00 per share, per the terms of the note payable. During August 2017, the Company issued 49,415 shares of its common stock to Smithline upon the conversion of $117 of principal amount and $18 of accrued interest of a note outstanding. The shares were issued at an average of $2.70 per share, per the terms of the note payable. During October 2017, the Company issued 25,792 shares of its common stock to Smithline upon the conversion of $19 of principal amount and $1 of accrued interest of a note outstanding. The shares were issued at an average of $0.75 per share, per the terms of the note payable. Issuance of shares pursuant to Bridge Financing Provision In January 2016, the Company issued an aggregate of 1,250 shares of common stock to a third-party lender in satisfaction of notes payable aggregating $320. The shares were valued at fair value at $256.00 per share. Issuance of shares pursuant to acquisition of assets of 8760 Enterprises, Inc. In September 2016, the Company issued 2,250 shares of common stock valued at $60.00 per share in connection with the acquisition of assets of 8760 Enterprises. In addition to the shares, the Company issued a warrant to purchase 1,875 shares of common stock, at an exercise price of $800.00 per share, with a term of four years. The Company determined that the fair value of the warrants was $36, which is included in common stock warrants within the stockholders’ deficit section on the condensed consolidated balance sheet as of September 30, 2016. In addition to the shares, the Company recorded contingent common stock of $16 along with contingent consideration of $334, subject to 8760 Enterprises meeting certain targets. Issuance of shares to JGB Concord and JGB Waltham In June 2016, the Company issued 2,250 shares of common stock valued at $368.00 per share as a concession for restructuring certain debt agreements. The Company recorded these shares as a loss on fair value of debt extinguishment of $828 on the consolidated statement of operations for the year ended December 31, 2016. In September 2016, the Company issued an aggregate of 11,483 shares of common stock to JGB Concord and JGB Waltham in satisfaction of notes payable and accrued interest aggregating $586. The shares were issued at average fair value of $52.00 per share, per the terms of the agreements. In October 2016, the Company issued an aggregate of 9,014 shares of common stock to JGB Concord and JGB Waltham in satisfaction of notes payable and accrued interest aggregating $226. The shares were issued at average fair value of $24.00 per share, per the terms of the agreements. In November 2016, the Company issued an aggregate of 18,878 shares of common stock to JGB Concord and JGB Waltham in satisfaction of notes payable and accrued interest aggregating $301. The shares were issued at average fair value of $16.00 per share, per the terms of the agreements. In December 2016, the Company issued an aggregate of 14,400 shares of common stock to JGB Concord and JGB Waltham in satisfaction of notes payable and accrued interest aggregating $191. The shares were issued at average fair value of $12.00 per share, per the terms of the agreements. Issuance of shares pursuant to JGB Concord senior secured convertible debenture During January 2017, the Company issued 42,863 shares of common stock to JGB Concord pursuant to conversion of $290 principal amount and $1 of accrued interest related to the outstanding February 2016 senior secured convertible debenture. The shares were issued at $7.00 per share, per the terms of the note payable. During February 2017, the Company issued 7,797 shares of common stock to JGB Concord pursuant to conversion of $45 principal amount and $1 of accrued interest related to the outstanding February 2016 senior secured convertible debenture. The shares were issued at $6.00 per share, per the terms of the note payable. During March 2017, the Company issued 163,663 shares of common stock to JGB Concord pursuant to conversion of $615 principal amount and $1 of accrued interest related to the outstanding February 2016 senior secured convertible debenture. The shares were issued at $4.00 per share, per the terms of the note payable. During July 2017, the Company issued 106,556 shares of common stock to JGB Concord pursuant to conversion of $100 principal amount related to the outstanding February 2016 senior secured convertible debenture. The shares were issued at an average of $0.50 per share, per the terms of the note payable. Issuance of shares pursuant to JGB Waltham senior secured convertible debenture During July 2017, the Company issued 373,438 shares of common stock to JGB Waltham pursuant to conversion of $350 principal amount and $1 of accrued interest related to the outstanding February 2016 senior secured convertible debenture. The shares were issued at an average of $0.90 per share, per the terms of the note payable. During August 2017, the Company issued 106,425 shares of common stock to JGB Waltham pursuant to conversion of $100 principal amount related to the outstanding February 2016 senior secured convertible debenture. The shares were issued at an average of $0.90 per share, per the terms of the note payable. During November 2017, the Company issued 63,282 shares of common stock to JGB Waltham pursuant to conversion of $20 principal amount related to the outstanding February 2016 senior secured convertible debenture. The shares were issued at an average of $0.32 per share, per the terms of the note payable. During December 2017, the Company issued 224,747 shares of common stock to JGB Waltham pursuant to conversion of $40 principal amount related to the outstanding February 2016 senior secured convertible debenture. The shares were issued at an average of $0.18 per share, per the terms of the note payable. Issuance of shares pursuant to Forward Investments, LLC promissory notes In July 2016, the Company issued an aggregate of 1,984 shares of common stock to a related-party lender in satisfaction of notes payable aggregating $446. The shares were issued at average fair value of $220.00 per share, per the terms of the agreements. In August 2016, the Company issued an aggregate of 2,318 shares of common stock to a related-party lender in satisfaction of notes payable aggregating $396. The shares were issued at average fair value of $176.00 per share, per the terms of the agreements. In September 2016, the Company issued an aggregate of 9,911 shares of common stock to a related-party lender in satisfaction of notes payable aggregating $620. The shares were issued at average fair value of $60.00 per share, per the terms of the agreements. In October 2016, the Company issued an aggregate of 5,633 shares of common stock to a related-party lender in satisfaction of notes payable aggregating $156. The shares were issued at average fair value of $28.00 per share, per the terms of the agreements. In November 2016, the Company issued an aggregate of 9,973 shares of common stock to a related-party lender in satisfaction of notes payable aggregating $182. The shares were issued at average fair value of $20.00 per share, per the terms of the agreements. In December 2016, the Company issued an aggregate of 31,809 shares of common stock to a related-party lender in satisfaction of notes payable aggregating $439. The shares were issued at average fair value of $12.00 per share, per the terms of the agreements. During January 2017, the Company issued 78,490 shares of its common stock to Forward Investments, LLC upon conversion of $582 principal amount of promissory notes outstanding. The shares were issued at $7.00 per share, per the terms of the notes payable. During February 2017, the Company issued 118,814 shares of its common stock to Forward Investments, LLC upon conversion of $867 principal amount of promissory notes outstanding. The shares were issued at $7.00 per share, per the terms of the notes payable. During March 2017, the Company issued 207,599 shares of its common stock to Forward Investments, LLC upon conversion of $1,365 principal amount of promissory notes outstanding. The shares were issued at $7.00 per share, per the terms of the notes payable. During July 2017, the Company issued 446,412 shares of its common stock to Forward Investments, LLC upon conversion of $1,172 principal amount of promissory notes outstanding. The shares were issued at an average of $2.60 per share, per the terms of the notes payable. During August 2017, the Company issued 601,354 shares of its common stock to Forward Investments, LLC upon conversion of $790 principal amount of promissory notes outstanding. The shares were issued at an average of $1.30 per share, per the terms of the notes payable. During October 2017, the Company issued 529,959 shares of its common stock to Forward Investments, LLC upon conversion of $331 principal amount of promissory notes outstanding. The shares were issued at an average of $0.62 per share, per the terms of the notes payable. During November 2017, the Company issued 917,475 shares of its common stock to Forward Investments, LLC upon conversion of $327 principal amount of promissory notes outstanding. The shares were issued at an average of $0.36 per share, per the terms of the notes payable. Issuance of shares to related parties During July 2016, the Company issued an aggregate of 625 shares of common stock to related party lenders in satisfaction of notes payables aggregating to $200. The shares were valued at fair value at $320.00 per share, per the terms of the notes payables. Issuance of shares pursuant to MEF I, L.P. convertible promissory note During March 2017, the Company issued 5,000 shares of its common stock to MEF I, L.P. upon the conversion of $18 principal amount and $1 of accrued interest of a note outstanding. The shares were issued at $4.00 per share, per the terms of the note payable. During July 2017, the Company issued 206,145 shares of its common stock to MEF I, L.P. upon the conversion of $441 principal amount and $20 of accrued interest of a note outstanding. The shares were issued at an average of $2.20 per share, per the terms of the note payable. During August 2017, the Company issued 65,785 shares of its common stock to MEF I, L.P. upon the conversion of $91 principal amount and $4 of accrued interest of a note outstanding. The shares were issued at an average of $1.50 per share, per the terms of the note payable. Issuance of shares pursuant to RDW April 3, 2017 convertible promissory note During July 2017, the Company issued 17,452 shares of its common stock to RDW upon the conversion of $100 principal amount of a note outstanding. The shares were issued at an average of $5.70 per share, per the terms of the note payable. Issuance of shares pursuant to RDW July 18, 2017 convertible promissory note During July 2017, the Company issued 125,471 shares of its common stock to RDW upon the conversion of $253 principal amount of a note outstanding. The shares were issued at an average of $2.00 per share, per the terms of the note payable. During August 2017, the Company issued 297,933 shares of its common stock to RDW upon the conversion of $355 principal amount of a note outstanding. The shares were issued at an average of $1.20 per share, per the terms of the note payable. During September 2017, the Company issued 123,457 shares of its common stock to RDW upon the conversion of $100 principal amount of a note outstanding. The shares were issued at $0.80 per share, per the terms of the note payable. During October 2017, the Company issued 129,840 shares of its common stock to RDW upon the conversion of $103 principal amount of a note outstanding. The shares were issued at $0.79 per share, per the terms of the note payable. During November 2017, the Company issued 1,285,559 shares of its common stock to RDW upon the conversion of $354 principal amount of a note outstanding. The shares were issued at $0.28 per share, per the terms of the note payable. During December 2017, the Company issued 255,141 shares of its common stock to RDW upon the conversion of $51 principal amount of a note outstanding. The shares were issued at $0.20 per share, per the terms of the note payable. Issuance of shares pursuant to RDW October 12, 2017 convertible promissory note During October 2017, the Company issued 289,322 shares of its common stock to RDW upon the conversion of $133 principal amount of a note outstanding. The shares were issued at an average of $0.46 per share, per the terms of the note payable. During November 2017, the Company issued 334,671 shares of its common stock to RDW upon the conversion of $133 principal amount of a note outstanding. The shares were issued at an average of $0.40 per share, per the terms of the note payable. Issuance of shares pursuant to RDW December 8, 2017 convertible promissory note During December 2017, the Company issued 781,513 shares of its common stock to RDW upon the conversion of $120 principal amount of a note outstanding. The shares were issued at an average of $0.15 per share, per the terms of the note payable. Issuance of shares pursuant to JGB Waltham warrant exercises During August 2017, the Company issued 62,261 shares of its common stock to JGB Waltham upon the cashless exercise of $250 of an outstanding warrant. The shares were issued at an exercise price of $0.90 per share. During September 2017, the Company issued 76,165 shares of its common stock to JGB Waltham upon the cashless exercise of $250 of an outstanding warrant. The shares were issued at an exercise price of $0.90 per share. During October 2017, the Company issued 172,552 shares of its common stock to JGB Waltham upon the cashless exercise of $500 of an outstanding warrant. The shares were issued at an exercise price of $0.66 per share. Issuance of shares due to rounding differences resulting from reverse stock split During July 2017, the Company issued 126 additional shares based on rounding differences resulting from the one-for-four reverse stock split which was effective as of the open of trading on July 12, 2017. Purchase of treasury shares During March 2016, the Company repurchased 5 shares from the Ian Gist Cancer Research Fund. The shares were valued at fair value at $216.00 per share. During March 2016, the Company repurchased 354 shares at par value of $0.0001 per share from twenty employees who terminated employment. During June 2016, the Company repurchased 138 shares at par value of $0.0001 per share from twelve employees who terminated employment. During November 2016, the Company repurchased 250 shares at par value of $.0001 per share from a third party who terminated their consulting agreement. During December 2016, the Company repurchased 1,250 shares at par value of $.0001 per share from an employee who terminated employment. During January 2017, the Company repurchased 817 shares of its common stock at par value of $0.0001 per share from employees who terminated employment. During April 2017, the Company repurchased 104 shares of its common stock at par value of $0.0001 per share from employees who terminated employment. Cancellation of shares During March 2017, 16,944 shares of the Company’s common stock issued to Dominion Capital LLC during 2016 were cancelled. During September 2017, 3,069 shares of the Company’s common stock issued to former employees were cancelled. |
Stock-Based Compensation
Stock-Based Compensation | 12 Months Ended |
Dec. 31, 2017 | |
Stock-Based Compensation [Abstract] | |
STOCK-BASED COMPENSATION | 17. STOCK-BASED COMPENSATION The Company adopted formal stock option plans in 2012 and 2015. The Company issued options prior to the adoption of this plan, but the amount was not material. Historically, the Company has awarded stock grants to certain of its employees and consultants that did not contain any performance or service conditions. Compensation expense included in the Company’s consolidated statement of operations includes the fair value of the awards at the time of issuance. When common stock was issued, it was valued at the trading price on the date of issuance and was expensed as it was issued. During the year ended December 31, 2016, the Company granted an aggregate of 5,141 shares under the 2015 performance incentive plan, of which 669 shares were subject to a 3-year vesting term, 2,448 shares were subject to 6-month vesting, 250 shares were scheduled to vest on January 1, 2017, 1,032 shares were scheduled to vest on June 30, 2017, 188 shares were scheduled to vest on December 31, 2017, and 554 shares had no vesting terms. During the year ended December 31, 2017, the Company granted an aggregate of 1,250 shares under the 2015 performance incentive plan, all of which were subject to a 3-year vesting term. 2012 Performance Incentive Plan, Employee Stock Purchase Plan, and 2015 Performance Incentive Plan On November 16, 2012, the Company adopted its 2012 Equity Incentive Plan (the "Equity Incentive Plan") and its Employee Stock Purchase Plan (the "Stock Purchase Plan"). Both plans were established to attract, motivate, retain and reward selected employees and other eligible persons. For the Equity Incentive Plan, employees, officers, directors and consultants who provide services to the Company or one of the Company’s subsidiaries may be selected to receive awards. A total of 5,813 shares of the Company’s common stock was authorized for issuance with respect to awards granted under the Equity Incentive Plan. On January 1, 2015, pursuant to the terms of the Equity Incentive Plan, an additional 1,250 shares of the Company’s common stock were made available for issuance under the Equity Incentive Plan. From the inception of the Equity Incentive Plan through the year ended December 31, 2017, an aggregate of 7,213 shares were granted under the Equity Incentive Plan, and 373 shares authorized under the Equity Incentive Plan remain available for award purposes. In connection with the Company’s adoption of the Company’s 2015 Performance Incentive Plan, which is discussed below, the Company agreed that no additional grants of awards will be made under the Equity Incentive Plan. The Stock Purchase Plan is designed to allow the Company’s eligible employees and the eligible employees of the Company’s participating subsidiaries to purchase shares of the Company’s common stock, at semi-annual intervals, with their accumulated payroll deductions. A total of 1,250 shares of the Company’s common stock was initially available for issuance under the Stock Purchase Plan. The share limit will automatically increase on the first trading day in January of each year (commencing with January 2014) by an amount equal to lesser of (i) 1% of the total number of outstanding shares of the Company’s common stock on the last trading day in December in the prior year, (ii) 1,250 shares, or (iii) such lesser number as determined by the Company’s board of directors. As of December 31, 2017 and 2016, no shares had been purchased under the Stock Purchase Plan and, at December 31, 2017, 2,190 shares were authorized for issuance under the Stock Purchase Plan. On June 26, 2015, the Company adopted, and on September 21, 2015, the Company’s stockholders approved, the Company’s 2015 Performance Incentive Plan (the “Performance Incentive Plan”). The plan was established to provide a means through the grant of awards to attract, motivate, retain, and reward selected employees and other eligible persons. For the Performance Incentive Plan, employees, officers, directors and consultants who provide services to the Company or one of the Company’s subsidiaries may be selected to receive awards. A total of 710,791 shares of the Company’s common stock is authorized for issuance with respect to awards granted under the Performance Incentive Plan. In addition, the share reserve under the Performance Incentive Plan will be increased to include shares subject to outstanding awards under the Equity Incentive Plan that are forfeited, cancelled or otherwise settled under the Equity Incentive Plan without the issuance of shares of common stock. The number of authorized shares under the Performance Incentive Plan will automatically increase on the first trading day in January of each year (commencing with January 2016) by an amount equal to lesser of (i) 7.5% of the total number of outstanding shares of the Company’s common stock on the last trading day in December in the prior year, and (ii) such lesser number as determined by the Company’s board of directors. Any shares subject to awards that are not paid, delivered or exercised before they expire or are canceled or terminated, or fail to vest, as well as shares used to pay the purchase or exercise price of awards or related tax withholding obligations, will become available for other award grants under the Performance Incentive Plan. During the year ended December 31, 2017, the Company repurchased 3,115 shares previously granted. During the years ended December 31, 2017 and 2016, 13,000 and 6,390 shares, respectively, were granted under the Performance Incentive Plan, and at December 31, 2017 and 2016, 14,906 and 3,634 shares, respectively, authorized under the Performance Incentive Plan remained available for award purposes. Restricted Stock The following table summarizes the Company’s restricted stock unit activity for the years ended December 31, 2017 and 2016. Weighted Average Number of Grant Date Shares Fair Value Outstanding at December 31, 2015 5,058 $ 1,400.00 Granted 5,835 $ 236.00 Vested (1,681 ) $ 1,664.00 Forfeited/Cancelled (1,991 ) $ 460.00 Exercised - $ - Outstanding at December 31, 2016 7,221 $ 657.14 Granted 13,000 $ 6.91 Vested (250 ) $ 231.00 Forfeited/Cancelled (3,115 ) $ 619.21 Exercised - Outstanding at December 31, 2017 16,856 $ 169.00 For the years ended December 31, 2017 and 2016, the Company incurred $13 and $85, respectively, in stock compensation expense from the issuance of common stock to employees and consultants. The Company recorded an additional $1,160 and $3,384 in stock compensation expense on shares subject to vesting terms in previous periods during the years ended December 31, 2017 and 2016, respectively. Issuance of shares of common stock to employees, directors, and officers During July 2016, the Company issued an aggregate of 5,111 shares of its common stock to various employees and officers for services rendered. The shares were valued between $232.00 and $272.00 per share. The Company recorded the expense to salaries and wages expense. During January 2017, the Company issued 13,000 shares of its common stock to employees and directors for services performed. The shares were valued at fair value of $7.00 per share and vest on varying schedules through January 26, 2020. The Company recorded the expense to salaries and wages expense. Issuance of shares of common stock to employees for incentive earned During March 2016, the Company issued an aggregate of 184 shares to an employee in settlement of incentives earned. The shares were valued at $272.00 per share. The Company had accrued for $50 of the expense in 2015. During July 2016, the Company issued an aggregate of 163 shares to two employees in settlement of incentives earned subject to a six-month vesting schedule. The Company recorded the expense to salaries and wages expense. The following table summarizes the amount of stock compensation expense to be recognized for vesting shares. Years Ending December 31, Future Stock Compensation Expense 2018 $ 102 2019 30 2020 1 Total $ 133 Options The following table summarizes the Company’s stock option activity and related information for the years ended December 31, 2017 and 2016. Weighted Average Shares Underlying Options Exercise Price Remaining Contractual Term Aggregate Intrinsic Value Outstanding at January 1, 2016 438 $ 1,488.00 6.29 $ 476 Granted - $ - - $ - Forfeited and expired - $ - - $ - Exercised - $ - - $ - Outstanding at December 31, 2016 438 $ 1,488.00 5.29 $ 646 Exercisable at December 31, 2016 417 $ 1,488.00 5.29 $ 615 Granted - $ - - $ - Forfeited and expired (21 ) $ 1,488.00 - $ - Exercised - $ - - $ - Outstanding at December 31, 2017 417 $ 1,488.00 4.29 $ 620 Exercisable at December 31, 2017 417 $ 1,488.00 4.29 $ 620 The aggregate intrinsic value for outstanding options is calculated as the difference between the exercise price of the underlying awards and the quoted price of the Company’s common stock as of December 31, 2017 and 2016 of $0.27 and $12.00, respectively. |
Preferred Stock
Preferred Stock | 12 Months Ended |
Dec. 31, 2017 | |
Stockholders' Deficit/Preferred Stock [Abstract] | |
PREFERRED STOCK | 18. PREFERRED STOCK Designation of Series J Preferred Stock On July 20, 2017, the Board of Directors designated 1,000 shares of the Company’s authorized preferred stock, with a par value of $0.0001 per share, as Series J preferred stock. The Series J preferred stock has a stated value of $4,916 per share, is not redeemable and, except as otherwise required by law, shall be voted together with the Company’s common stock and any other series of preferred stock then outstanding, and not as a separate class, at any meeting of the stockholders of the Company upon any matter upon which the holders of common stock have the right to vote, except that the aggregate voting power of the Series J preferred stock shall be equal to 51% of the total voting power of the Company. The holders of Series J preferred stock also have a liquidation preference in the amount of $4,916 per share that is senior to the distributions, if any, to be paid to the holders of common stock. Designation of Series K Preferred Stock On November 10, 2017, the Board of Directors designated 3,000 shares of the Company’s authorized preferred stock, with a par value of $0.0001 per share, as Series K preferred stock. The Series K preferred stock has a stated value of $10,000 per share. The Series K preferred stock is convertible into common stock of the Company at the lower of $3.00 or 95% of the weighted average trading price for the five days prior to conversion. The Series K preferred stock has a liquidation preference equal to $10,000 per share. There are no dividends on the Series K preferred stock. 1,512 shares of the Series K preferred stock were issued and outstanding as of December 31, 2017. Designation of Series L Preferred Stock On October 12, 2017, the Board of Directors designated 1,000 shares of the Company’s authorized preferred stock, with a par value of $0.0001 per share, as Series L preferred stock. The Series L preferred stock has a stated value of $10,000 per share. The Series L preferred stock is convertible into common stock of the Company at 105% of the weighted average trading price for the five days prior to conversion. The Series L preferred stock has a liquidation preference equal to $10,000 per share. There are no dividends on the Series L preferred stock. 227 shares of the Series L preferred stock were issued and outstanding as of December 31, 2017. Designation of Series M Preferred Stock On December 1, 2017, the Board of Directors designated 500 shares of the Company’s authorized preferred stock, with a par value of $0.0001 per share, as Series M preferred stock. The Series M preferred stock has a stated value of $10,000 per share. The Series M preferred stock is convertible into common stock of the Company at 105% of the weighted average trading price for the five days prior to conversion. The Series M preferred stock has a liquidation preference equal to $10,000 per share. There are no dividends on the Series M preferred stock. 386 shares of the Series M preferred stock were issued and outstanding as of December 31, 2017. Exchange of related party debt for preferred stock On July 25, 2017, Mark Munro, CEO, and Mark Durfee, Board Member, exchanged their outstanding related party debt for the Company’s Series J preferred stock with special voting rights. Mark Munro converted principal and interest of $1,709 and $195, respectively. Mark Durfee converted principal and interest of $2,550 and $464, respectively. As a result of the exchange, Mark Munro and Mark Durfee received 387 and 613 shares, respectively, of the Company’s Series J preferred stock (Refer to Note 13, Related Parties, for further detail). The fair value of the Series J Preferred Stock on date of issuance was $1,753. The difference between the fair value of the preferred stock and the debt converted was included in additional paid in capital. Exchange of term loan Debt and Employee Warrants for Preferred Stock On October 12, 2017, a note holder agreed to exchange $5,430 held in promissory notes into 227 shares of the Company’s Series L preferred stock. On November 10, 2017, two note holders converted $15,128 of principal and accrued interest into 1,512 shares of the Company’s Series K preferred stock On December 1, 2017, two employees exchanged warrants to purchase 382,300 shares of the Company’s common stock for 386 shares of the Company’s Series M preferred stock. Temporary Equity The Company evaluated and concluded that it’s Series K and L Preferred Stock did not meet the criteria in ASC 480-10 and thus were not considered liabilities. The Company evaluated and concluded that the embedded conversion feature in Preferred Series K and L and determined that the embedded conversion feature needs to be bifurcated (refer to Note 12, Derivative Instruments, for further information regarding the embedded conversions features of the Series K and L preferred stock). In accordance with ASR 268 these equity securities are required to be classified outside of permanent equity since they are redeemable for cash. These shares are not currently redeemable and are not probable of being redeemed and thus have been recorded based on their fair value at the time of issuance. If redemption becomes probable, or the shares will become redeemable, they will be recorded to redemption value. A summary of the transactions related to the Company’s Series K, and L preferred stock classified as temporary equity during the year ended December 31, 2017 is as follows: Series K Preferred Stock Series L Preferred Stock Shares Dollar Amount Shares Dollar Amount Issuance of shares in settlement of debt obligations 1,512 $ 735 - $ - Issuance of shares in settlement of debt obligations - - 227 152 Total 1,512 $ 735 227 $ 152 |
Related Parties
Related Parties | 12 Months Ended |
Dec. 31, 2017 | |
Related Parties [Abstract] | |
RELATED PARTIES | 19. RELATED PARTIES At December 31, 2017 and 2016, the Company had outstanding the following notes payable to related parties: December 31, 2017 2016 Promissory note issued to CamaPlan FBO Mark Munro IRA, 3% interest, matured on January 1, 2018, unsecured, net of debt discount of $38 $ - $ 658 Promissory note issued to 1112 Third Avenue Corp, 3% interest, matured on January 1, 2018, unsecured, net of debt discount of $36 - 339 Promissory note issued to Mark Munro, 3% interest, matured on January 1, 2018, unsecured, net of debt discount of $62 - 575 Promissory note issued to Pascack Road, LLC, 3% interest, matured on January 1, 2018, unsecured, net of debt discount of $152 - 2,398 Promissory notes issued to Forward Investments, LLC, between 2% and 10% interest, matured on July 1, 2016, unsecured - 4,235 Promissory notes issued to Forward Investments, LLC, 3% interest, matured on January 1, 2018, unsecured, net of debt discount of $860 - 3,513 Promissory notes issued to Forward Investments, LLC, 6.5% interest, matured on July 1, 2016, unsecured - 390 Former owner of IPC, unsecured, 8% interest, matured on May 30, 2016 - 5,755 Former owner of IPC, unsecured, 15% interest - 75 Former owner of Nottingham, unsecured, 8% interest, matured on May 30, 2016 225 Promissory note issued to Pascack Road, LLC, unsecured, due on demand 75 - 75 18,163 Less: current portion of debt (75 ) (9,531 ) Long-term portion of notes payable, related parties $ - $ 8,632 Future maturities of related party debt are as follows: Year ending December 31, 2018 $ 75 Total principal payments $ 75 The interest expense, including amortization of debt discounts, associated with the related-party notes payable in the years ended December 31, 2017 and 2016 amounted to $220 and $3,515, respectively. All notes payable to related parties are subordinate to the JGB (Cayman) Waltham Ltd. and JGB (Cayman) Concord Ltd. term loan notes. Related Party Promissory Notes to Mark Munro, CamaPlan FBO Mark Munro IRA, 1112 Third Avenue Corp, and Pascack Road, LLC On July 25, 2017, Mark Munro, CEO, and Mark Durfee, Board Member, exchanged their outstanding related party debt for the Company’s Series J preferred stock with special voting rights. Mark Munro converted principal and interest of $1,709 and $195, respectively. Mark Durfee converted principal and interest of $2,550 and $464, respectively. As a result of the exchange, Mark Munro and Mark Durfee received 387 and 613 shares, respectively, of the Company’s Series J preferred stock (Refer to Note 16, Stockholders’ Deficit, for further detail). Convertible Promissory Note to Scott Davis, Former Owner of Nottingham On July 1, 2014, the Company issued an unsecured $250 convertible promissory note to Scott Davis, who was a related party. The note bore interest at the rate of 8% per annum, originally matured on January 1, 2015 and was convertible into shares of the Company’s common stock at an initial conversion price of $2,636.00. The Company evaluated the convertible feature and determined that the value was de minimis and as such, the Company did not bifurcate the convertible feature. On March 25, 2015, the Company and Mr. Davis agreed to a modification of the convertible promissory note. The term of the note was extended to May 30, 2016, the initial conversion price was amended to $888.00 per share of the Company’s common stock and, in consideration for this modification, the Company issued to Mr. Davis 56 shares of common stock with a fair value of $864.00 per share. On May 31, 2015, Mr. Davis converted $25 of principal amount of the note into 29 shares of common stock, with a fair value of $1,412.00 per share and the Company recorded a loss on debt conversion of $13 on the consolidated statement of operations. On May 30, 2016, the note matured and was due on demand. On April 3, 2017, Scott Davis assigned the full outstanding principal amount of the note to a third party (refer to Note 11, Term Loans, for additional detail). Related Party Promissory Note to Pascack Road, LLC On December 28, 2017, Pascack Road, LLC advanced $75 to the Company in return for a promissory note. The note did not accrue interest and was due on demand. Subsequent to December 31, 2017, the note was converted into an accounts receivable loan (refer to Note 22, Subsequent Events, for further detail). Payments to Owners of NGNWare The Company was a minority owner of 13.7% of NGNWare, LLC from December 17, 2015 to December 31, 2016, when the Company wrote off the note from NGNWare as it was deemed uncollectible. During the year ended December 31, 2016, the Company paid the owners of 86.3% of NGNWare a salary of $6 and paid health insurance premiums on their behalf of $16. The owners of NGNWare could not procure health insurance on their own, so the Company added them to its health insurance plan. The amounts paid for salary and health insurance were included in the amount the Company invested in NGNWare. Loans to Employees During the year ended December 31, 2016, the Company issued loans to employees totaling $928. As of December 31, 2017, the Company had outstanding loans to four employees with total principal of $928. These loans are collateralized by shares of the Company’s common stock held by the employees. As of December 31, 2017 and 2016, the value of the collateral was below the principal value. As a result, the Company recorded a reserve for the balance of $924 and $891 on the consolidated balance sheet as of December 31, 2017 and 2016, respectively (refer to Note 4, Loans Receivable, for further detail). |
Segment Information
Segment Information | 12 Months Ended |
Dec. 31, 2017 | |
Segment Information [Abstract] | |
SEGMENT INFORMATION | 20. SEGMENT INFORMATION The Company has acquired three material companies since January 1, 2014. With each acquisition, the Company evaluated the newly-acquired company’s sources of revenues and costs of revenues. Due to continued expansion, the Company evaluated its recent acquisitions and their impact upon the existing segment structure. As of December 31, 2014, the Company operated within four operating segments that were aggregated into three reportable segments. During the year ended December 31, 2015, the Company determined that its activities within the cloud services operating segment were of a material nature to the Company as a whole and had different margins than the other components of the managed services segment. As such, the Company determined that the cloud services and managed services segments should be presented separately within the consolidated financial statements. During the year ended December 31, 2016, the Company sold VaultLogix and Axim, which had constituted a majority of the Company’s cloud services segment. During the year ended December 31, 2017, the Company sold the assets of its IPC subsidiary and returned its interest in Nottingham. These entities had constituted the Company’s managed services segment. As of December 31, 2017, the Company determined that it has two reportable segments: applications and infrastructure and professional services. The results of VaultLogix and Axim, the former cloud services segment, and IPC and Nottingham, the former managed services segment, are included in discontinued operations on the consolidated statement of operations for the years ended December 31, 2017 and 2016. The Company identified its operating segments based on the services provided by its various operations and the financial information used by its chief operating decision maker to make decisions regarding the allocation of resources to and the financial performance of the operating segments. The reporting segments represent an aggregation of individual operating segments with similar economic characteristics. The applications and infrastructure operating segment is an aggregation of the component operations of TNS, the AWS Entities (sold by the Company in April 2017), Tropical (sold by the Company in April 2017 in connection with the sale of the AWS entities), RM Leasing, and RM Engineering. The professional services operating segment is an aggregation of the operations of the ADEX Entities (sold by the Company in February 2018) and SDNE (sold by the Company in May 2017). The managed services operating segment is primarily comprised of the operations of IPC and RentVM. In addition to the operating segments, the Company has determined that certain costs related to the general operations of the Company cannot be reasonably allocated to each individual segment. These costs are not part of the factors that the chief operating decision maker uses to calculate gross margin. As such, the Company has chosen to present those costs within a general “Corporate” line item for presentation purposes. The Company’s former VaultLogix and Axim subsidiaries, which were included in the Company’s former cloud services segment, and the IPC subsidiary and Nottingham, which were included in the Company’s former managed services segment, were reclassified as “discontinued operations” to conform to classifications used in the current period related to the sale of VaultLogix, VaultLogix’s subsidiaries, Axim, and IPC and the return of the Company’s interest in Nottingham. The segment information as of and for the year ended December 31, 2016 has been retrospectively updated to reflect this change. Segment information relating to the Company's results of continuing operations was as follows: Year Ended December 31, 2017 2016 Revenue by Segment Applications and infrastructure $ 12,009 $ 22,173 Professional services 22,511 36,937 Total $ 34,520 $ 59,110 Gross Profit by Segment Applications and infrastructure $ 3,411 $ 3,633 Professional services 3,617 10,475 Total $ 7,028 $ 14,108 Operating Income (Loss) by Segment Applications and infrastructure $ (1,697 ) $ (1,755 ) Professional services (7,971 ) 1,991 Corporate (6,755 ) (12,753 ) Total $ (16,423 ) $ (12,517 ) Interest Expense by Segment Applications and infrastructure $ 18 $ 21 Professional services - - Corporate 7,032 13,733 Total $ 7,050 $ 13,754 Total Assets by Segment Applications and infrastructure $ 3,807 $ 16,177 Professional services 7,244 21,334 Corporate 5,364 1,669 Assets of discontinued operations 41 15,389 Total $ 16,456 $ 54,569 Goodwill by Segment Applications and infrastructure $ - $ 6,906 Professional services - 10,081 Total $ - $ 16,987 Depreciation and Amortization Expense by Segment Applications and infrastructure $ 271 $ 789 Professional services 268 516 Corporate 20 21 Total $ 559 $ 1,326 Year Ended December 31, 2017 Domestic Foreign Total Revenues by Segment by Geographic Region Applications and infrastructure $ 11,415 $ 594 $ 12,009 Professional services 22,281 230 22,511 Total $ 33,696 $ 824 $ 34,520 Year Ended December 31, 2016 Domestic Foreign Total Revenues by Segment by Geographic Region Applications and infrastructure $ 21,254 $ 919 $ 22,173 Professional services 36,582 355 36,937 Total $ 57,836 $ 1,274 $ 59,110 Year Ended December 31, 2017 Domestic Foreign Total Gross Profit by Segment by Geographic Region Applications and infrastructure $ 3,114 $ 297 $ 3,411 Professional services 3,565 52 3,617 Total $ 6,679 $ 349 $ 7,028 Year Ended December 31, 2016 Domestic Foreign Total Gross Profit by Segment by Geographic Region Applications and infrastructure $ 3,428 $ 205 $ 3,633 Professional services 10,418 57 10,475 Total $ 13,846 $ 262 $ 14,108 Year Ended December 31, 2017 Domestic Foreign Total Operating Income (Loss) by Segment by Geographic Region Applications and infrastructure $ (1,948 ) $ 251 $ (1,697 ) Professional services (8,024 ) 53 (7,971 ) Corporate (6,755 ) - (6,755 ) Total $ (16,727 ) $ 304 $ (16,423 ) Year Ended December 31, 2016 Domestic Foreign Total Operating Income (Loss) by Segment by Geographic Region Applications and infrastructure $ (1,854 ) $ 99 $ (1,755 ) Professional services 1,944 47 1,991 Corporate (12,753 ) - (12,753 ) Total $ (12,663 ) $ 146 $ (12,517 ) For the year ended December 31, 2016, revenues from the largest customer of the applications and infrastructure and professional services segments were $5,718 and $3,731, respectively, which represented 17% and 11%, respectively, of the Company’s consolidated revenue. For the year ended December 31, 2016, revenues from the largest customer of the applications and infrastructure and professional services segments were $5,761 and $4,929, respectively, which represented 7% and 6%, respectively, of the Company’s consolidated revenue. |
Discontinued Operations
Discontinued Operations | 12 Months Ended |
Dec. 31, 2017 | |
Discontinued Operations [Abstract] | |
DISCONTINUED OPERATIONS | 21. DISCONTINUED OPERATIONS On February 17, 2016, the Company consummated the sale of certain assets of its former wholly-owned subsidiary, VaultLogix, and its subsidiaries, pursuant to the terms of an asset purchase agreement, dated as of February 17, 2016 among the Company, VaultLogix and its subsidiaries and KeepItSafe, Inc., a Delaware corporation. The cash purchase price paid to the Company for the assets was $24,000, which was paid to the Company as follows: (i) $22,000 paid in cash on the closing date and (ii) $2,000 deposited in an escrow account to secure the performance of the obligations of the Company and VaultLogix, including any potential indemnification claims, under the asset purchase agreement, to be released on February 17, 2017. The closing payments were subject to customary working capital adjustments. On November 4, 2016, the Company, VaultLogix and its subsidiaries and KeepItSafe, Inc, executed a settlement agreement, whereby for certain consideration, the Company received $150 of the escrow and KeepitSafe Inc. received $1,850. The settlement agreement released all claims among the parties and eliminated any obligations subsequent to that date. The results of operations of VaultLogix and its subsidiaries have been included within the line-item labelled net loss on discontinued operations, net of tax within the consolidated statement of operations for the year ended December 31, 2016. The Company recorded a gain on the disposal of these assets of $2,637 for the year ended December 31, 2016. On April 29, 2016, the Company consummated the disposal of certain assets of its former wholly-owned subsidiary, Axim, for the following future consideration: in the event that the purchaser of Axim undertakes a sale or disposition of assets related to Axim, the purchaser of Axim shall pay to the Company an amount equal to the lesser of (i) 50% of the gross proceeds of such sale or disposition or (ii) $1,500. The results of operations of Axim have been included within the line-item labelled net loss on discontinued operations, net of tax within the consolidated statement of operations for the year ended December 31, 2016. The Company recorded a loss on the disposal of these assets of $1,063 for the year ended December 31, 2016. Effective April 1, 2017, the Company returned its interest in Nottingham, a former VIE of the Company. The assets and liabilities of Nottingham have been included within the consolidated balance sheets as current assets and long term assets and current liabilities of discontinued operations as of December 31, 2016. The results of operations of Nottingham have been included within the line-item labelled net loss on discontinued operations, net of tax within the consolidated statement of operations for the years ended December 31, 2017 and 2016. The Company recorded a loss on the disposal of $464 for the year ended December 31, 2017. On November 6, 2017, the Company consummated the disposal of certain assets and liabilities of its former wholly-owned subsidiary, IPC. The assets and liabilities of IPC have been included within the consolidated balance sheets as current assets and long term assets of discontinued operations and current liabilities of discontinued operations as of December 31, 2016. The results of operations of IPC have been included within the line-item labelled net loss on discontinued operations, net of tax within the consolidated statement of operations for the years ended December 31, 2017 and 2016. The Company recorded a loss on disposal of these assets of $8,026 for the year ended December 31, 2017. The following table shows the major classes of the Company’s discontinued operations as of December 31, 2017 and 2016. December 31, 2017 2016 Current assets: Cash $ - $ 9 Accounts receivable, net of allowances 41 4,096 Inventory - 165 Other current assets - 467 Current assets of discontinued operations $ 41 $ 4,737 Long-term Assets: Property and equipment, net $ - $ 187 Goodwill - 6,381 Intangible assets, net - 4,068 Other assets - 16 Long-term assets of discontinued operations $ - $ 10,652 Current liabilities: Accrued trade payables $ 3,011 $ 4,447 Accrued expenses 328 1,062 Deferred revenue 1,111 Current liabilities of discontinued operations $ 3,339 $ 6,620 For the year ended 2017 2016 Revenues $ 7,409 $ 20,267 Cost of revenue 5,461 13,467 Gross profit 1,948 6,800 Operating expenses: Depreciation and amortization 512 1,226 Salaries and wages 1,574 5,049 Selling, general and administrative 1,375 2,767 Goodwill impairment charge - 1,114 Intangible asset impairment charge - 3,459 Total operating expenses 3,461 13,615 Pre-tax loss from operations (1,513 ) (6,815 ) Other income (expenses): Interest expense (6 ) (273 ) Other expense - (158 ) Gain (loss) on disposal of subsidiary (40 ) 1,574 Total other income (expense) (46 ) 1,143 Pre-tax loss on discontinued operations (1,559 ) (5,672 ) (Benefit from) provision for income taxes - - Loss on discontinued operations, net of tax $ (1,559 ) $ (5,672 ) |
Subsequent Events
Subsequent Events | 12 Months Ended |
Dec. 31, 2017 | |
Subsequent Events [Abstract] | |
SUBSEQUENT EVENTS | 22. SUBSEQUENT EVENTS 1112 Third Avenue Corp Receivables Purchase Agreement – January 3, 2018 On January 3, 2018, the Company entered into a receivables purchase agreement whereby the Company sold $275 of receivables to 1112 Third Avenue Corp in exchange for $275 in cash. The sale was unconditional, irrevocable, and without recourse to the Company. Pascack Road, LLC Receivables Purchase Agreement – January 3, 2018 On January 3, 2018, the Company entered into a receivables purchase agreement whereby the Company sold $275 of receivables to Pascack Road, LLC in exchange for $200 in cash and the conversion of a $75 promissory note outstanding as of December 31, 2017. The sale was unconditional, irrevocable, and without recourse to the Company. OTC Pink Current Information Effective February 13, 2018, the Company’s common stock and warrants commenced trading on OTC Pink Current Information. Prior to February 13, 2018, the Company’s common stock and warrants were trading on the OTCQB Venture Market. Sale of 19.9% of AWS in Exchange for Warrant On February 14, 2018, the Company sold its remaining 19.9% share of AWS to Spectrum Global Solutions, Inc. (“Spectrum”) in exchange for a warrant to purchase shares equal to 4% of the outstanding shares of Spectrum on the date the exercise notice is delivered, at an exercise price of $0.0001 per share. The warrant expires on February 14, 2021. Settlement of Earn-out From the Sale of the AWS Entities On February 16, 2018, the Company settled the potential earn-out with the buyer of the AWS Entities, Spectrum. The Company received from Spectrum a convertible promissory note in the principal amount of $794. The convertible promissory note accrues interest at a rate of 1% per annum and is due on August 16, 2019. The note is convertible into shares of common stock of the buyer at a conversion price per share equal to 80% of the lowest VWAP over the five (5) trading days immediately prior to, but not including, the conversion date. Reverse Stock Split On February 22, 2018, the Company filed a Certificate of Amendment of its Certificate of Incorporation that effected a one-for-one hundred reverse split of the Company’s issued and outstanding shares of common stock, par value $0.0001 per share, effective as of the open of trading on February 23, 2018. The Company’s stockholders, by written consent dated December 5, 2017, had previously authorized the Company’s Board of Directors to effect a reverse stock split within a range of ratios, including one-for-one hundred, at any time within one year following the date of such written consent, as determined by the board. Pryor Cashman LLP Warrant On February 23, 2018, the Company issued a warrant to purchase up to 5,000,000 shares of its common stock to Pryor Cashman LLP. The warrant expirers on May 23, 2019 and is exercisable at a per share price of the lower of (i) $0.075 and (ii) 25% of the closing price of the Company’s common stock on the trading day immediately preceding the date of exercise. Sale of ADEX On February 27, 2018, the Company sold the ADEX Entities for $3,000 in cash plus a one-year convertible promissory note in the aggregate principal amount of $2,000. $2,500 in cash was received at closing, with $500 to be retained by the buyer for 90 days, of which $250 has been received. $1,000 of the $2,500 in cash received at closing was applied to the repayment of our indebtedness to JGB Concord, with an additional $900 in cash placed in an escrow account controlled by JGB Concord, to be released to the Company if certain conditions are met. The convertible promissory note accrues interest at a rate of 6% per annum and is due on March 27, 2019. The note is convertible into shares of common stock of the buyer at a conversion price per share equal to 75% of the lowest VWAP during the fifteen (15) trading days immediately prior to the conversion date. The conversion price has a floor of $0.005 per share. SCS, LLC 12% Convertible Promissory Note On February 27, 2018, the Company issued a convertible promissory note to SCS, LLC. The note has a principal amount of $150, accrues interest at the rate of 12% per annum, and is due on February 27, 2019. The note is convertible into shares of the Company’s common stock at a conversion price per share equal to 80% of the average of the three (3) lowest VWAPs over the five (5) trading days prior to the conversion date. Mantra Convertible Note Assignments to RDW Capital LLC On March 2, 2018, the Company assigned $105 of the note receivable to RDW Capital LLC in exchange for cash of $100. On March 9, 2018, the Company assigned $105 of the note receivable to RDW Capital LLC in exchange for cash of $100. Form S-8 Registration Statement On March 13, 2018, the Company filed a Form S-8 registration statement with the SEC. The registration statement registered an aggregate of 5,096,103 shares of the Company’s common stock, par value $0.0001 per share, that have been or may be issued and sold from time to time under letter agreements that the Company has entered into with each of Dealy Silberstein & Braverman, LLP, Sichenzia Ross Ference Kesner LLP, Pryor Cashman LLP and Kevin Clune CPA relating to the issuance of shares of the Company’s common stock to each of the foregoing consultants in satisfaction of fees owed to each of the foregoing consultants for services rendered to the Company. Shares issued to Pryor Cashman LLP On March 15, 2018, the Company issued 100,000 shares of its common stock to Pryor Cashman LLP in connection with the Company’s Form S-8 Registration Statement filed with the SEC on March 13, 2018. The shares were issued with a cost basis of $0.16 per share. Shares issued to Dealy Silberstein & Braverman, LLP On March 20, 2018, the Company issued 200,000 shares of its common stock to Dealy Silberstein & Braverman LLP in connection with the Company’s Form S-8 Registration Statement filed with the SEC on March 13, 2018. The shares were issued with a cost basis of $0.15 per share. Shares issued to Sichenzia Ross Ference Kesner LLP On March 20, 2018, the Company issued 681,818 shares of its common stock to Sichenzia Ross Ference Kesner LLP in connection with the Company’s Form S-8 Registration Statement filed with the SEC on March 13, 2018. The shares were issued with a cost basis of $0.15 per share. Dominion November 4, 2016 Exchange Agreement Conversions During March 2017, the Company issued an aggregate of 317,932 shares of its common stock to Dominion Capital LLC upon the conversion of $30 of principal and accrued interest of a note outstanding. Dominion January 31, 2017 Promissory Note Conversions During March 2017, the Company issued an aggregate of 498.474 shares of its common stock to Dominion Capital LLC upon the conversion of $78 of principal and accrued interest of a note outstanding. JGB Waltham Promissory Note Conversions During January 2017, the Company issued an aggregate of 154,489 shares of its common stock to JGB Waltham upon the conversion of $78 of principal and accrued interest of a note outstanding. During February 2017, the Company issued an aggregate of 298.470 shares of its common stock to JGB Waltham upon the conversion of $78 of principal and accrued interest of a note outstanding. During March 2017, the Company issued an aggregate of 1,619,132 shares of its common stock to JGB Waltham upon the conversion of $78 of principal and accrued interest of a note outstanding. RDW July 14, 2017 Promissory Note Conversions During February 2017, the Company issued an aggregate of 428,572 shares of its common stock to RDW upon the conversion of $55 of principal of a note outstanding. During March 2017, the Company issued an aggregate of 1,063,829 shares of its common stock to RDW upon the conversion of $100 of principal of a note outstanding. RDW December 8, 2017 Promissory Note Conversions During January 2017, the Company issued an aggregate of 321,429 shares of its common stock to RDW upon the conversion of $45 of principal of a note outstanding. During February 2017, the Company issued an aggregate of 1,189,723 shares of its common stock to RDW upon the conversion of $105 of principal of a note outstanding. |
Restatement of Previously Issue
Restatement of Previously Issued Financial Statements | 12 Months Ended |
Dec. 31, 2017 | |
Restatement of Previously Issued Financial Statements [Abstract] | |
RESTATEMENT OF PREVIOUSLY ISSUED FINANCIAL STATEMENTS | 23. RESTATEMENT OF PREVIOUSLY ISSUED FINANCIAL STATEMENTS The Company received an SEC Comment Letter on October 23, 2018, and as a result of this letter, the Company: (1) Discovered that it inadvertently did not include a consent from its auditors related to the December 31, 2017 financial statements incorporated by reference into Form S-8 filed March 13, 2018. (2) Identified an error related to the weighted average shares outstanding, basic and diluted, for the year ended December 31, 2016. The error identified above had the following impact on the Company’s consolidated financial statements and related footnote disclosures for the year ended December 31, 2016 included in the Original Filing: (1) The error related to the weighted average shares outstanding, basic and diluted, for the year ended December 31, 2016 resulted in an understatement of loss per share attributable to InterCloud Systems, Inc. common stockholders, basic and diluted, for the year ended December 31, 2016. The Company reported 1,049,866 weighted average shares outstanding, basic and diluted, for the year ended December 31, 2016. The correct weighted average shares outstanding, basic and diluted, for the year ended December 31, 2016 was 104,866. The correct net loss per share from continuing operations, net loss per share on discontinued operations, net of taxes, and net loss per share for the year ended December 31, 2016 are $198.45, $54.09, and $252.54, respectively. This has been corrected on the consolidated statement of operations for the year ended December 31, 2016 and in Item 6 – Selected Financial Data. (2) In Note 5, Acquisitions and Disposals of Subsidiaries, the Company discloses pro forma data which reflects the impact of sales that took place during the reported periods. This disclosure includes a pro forma loss per share attributable to InterCloud Systems, Inc. common stockholders, basic and diluted, which has been adjusted to $239.93 based on the correct weighted average shares outstanding, basic and diluted, for the year ended December 31, 2016. The following table sets forth the effects (in thousands, except share data) of the matters identified upon receiving the SEC Comment Letter with respect to the Company’s consolidated financial statements for the year ended December 31, 2017 on affected items within the Company’s previously reported consolidated statement of operations for the year ended December 31, 2016: For the year ended December 31, 2016 As Reported As Restated Basic income (loss) per share attributable to InterCloud Systems, Inc. common stockholders: Net income from continuing operations $ (19.82 ) $ (198.45 ) Net gain (loss) on discontinued operations, net of taxes $ (5.40 ) $ (54.09 ) Net income per share $ (25.23 ) $ (252.54 ) Weighted average common shares outstanding, basic and diluted 1,049,866 104,866 |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2017 | |
Summary of Significant Accounting Policies [Abstract] | |
PRINCIPLES OF CONSOLIDATION AND ACCOUNTING FOR INVESTMENTS IN AFFILIATE COMPANIES | PRINCIPLES OF CONSOLIDATION AND ACCOUNTING FOR INVESTMENTS IN AFFILIATE COMPANIES The accompanying consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States (“GAAP”). The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries, which include Tropical Communications, Inc. (“Tropical”) (since August 2011 – sold in April 2017 in connection with the sale of the AWS Entities), Rives-Monteiro Leasing, LLC (“RM Leasing”) (since December 2011), ADEX Corporation, ADEX Puerto Rico, LLC and Highwire (collectively, “ADEX” or “ADEX Entities”) (since September 2012 – Highwire was sold in January 2017 – refer to Note 5, Acquisitions and Disposals of Subsidiaries, for further detail, and the ADEX Entities were sold in February 2018 – refer to Note 22, Subsequent events, for further detail), TNS, Inc. (“TNS”) (since September 2012), AW Solutions, Inc. and AW Solutions Puerto Rico, LLC (collectively, the “AWS Entities”) (since April 2013 – the AWS Entities were sold in April 2017 – refer to Note 5, Acquisitions and Disposals of Subsidiaries, for further detail), SDN Essentials, LLC (“SDNE”) (since January 2016 – SDNE was sold in May 2017 – refer to Note 5, Acquisitions and Disposals of Subsidiaries, for further detail), and SDN Systems, LLC (“SDNS”) (since January 2017). The results of operations of the Company’s former subsidiaries, VaultLogix, LLC (“VaultLogix”) (since October 2014), PCS Holdings LLC (“Axim”) (since December 2014), Integration Partners – NY Corporation (“IPC) (since January 2014 – the assets were sold in November 2017), and RentVM Inc. (“RentVM”) (since February 2014 – discontinued in November 2017 in connection with the sale of the assets of the IPC subsidiary), have been included as discontinued operations on the accompanying financial statements. In February 2016, the Company consummated the sale of certain assets of VaultLogix, in April 2016, the Company consummated the sale of all assets of Axim, and in November 2017, the Company began the process of discontinuing the IPC business (refer to Note 21, Discontinued Operations, for further information). All significant intercompany accounts and transactions have been eliminated in consolidation. The Company consolidates all entities in which it has a controlling voting interest and a variable interest in a variable interest entity (“VIE”) in which the Company is deemed to be the primary beneficiary. The consolidated financial statements include the accounts of Rives-Montiero Engineering, LLC (“RM Engineering”) (since December 2011), in which the Company owns an interest of 49%. The Company has the ability to exercise its call option to acquire the remaining 51% of RM Engineering for a nominal amount and thus makes all significant decisions related to RM Engineering even though it absorbs only 49% of the losses. Additionally, substantially all of the entity’s activities either involve or are conducted on behalf of the entity by the 51% holder of RM Engineering. The consolidation of RM Engineering resulted in increases of $675 in assets and $260 in liabilities in the Company’s consolidated balance sheet and $2,199 in revenue and $397 in net loss in the consolidated statement of operations as of and for the year ended December 31, 2017. The consolidation of RM Engineering resulted in increases of $1,025 in assets and $213 in liabilities in the Company’s consolidated balance sheet and $3,080 in revenue and $1 in net income in the consolidated statement of operations as of and for the year ended December 31, 2016. On December 17, 2015, the Company acquired a 13.7% ownership interest in NGNWare, LLC (“NGNWare”) for $800. The Company did not hold a controlling financial interest but had the ability to exercise significant influence over the operating and financial policies of NGNWare. As such, the Company accounted for the investment in NGNWare under the equity method of accounting. The Company wrote off the investment as of December 31, 2016. As a result, the Company recorded a loss on investment in equity method investee of $777 on the consolidated statement of operations for the year ended December 31, 2016. The Company also wrote off the note receivable as it was deemed uncollectible. The Company recorded a loss of $507 on the consolidated statement of operations for the year ended December 31, 2016. In June 2016, the Company made a loan to SDN Systems, LLC (“SDNS”). The loan is convertible into a 90% ownership stake in SDNS. The Company is the primary source of capital for SDNS. The Company evaluated the investment in SDNS at both December 31, 2017 and 2016. At December 31, 2016, SDNS did not meet the criteria to be included as a VIE, but at December 31, 2017, the criteria for a VIE were met. As such, the operations of SDNS have been included in the Company’s consolidated statement of accounts. The consolidation of SDNS resulted in increases of $9 in assets and $92 in liabilities in the Company’s consolidated balance sheet and $354 in net loss in the consolidated statement of operations as of and for the year ended December 31, 2017. The consolidated financial statements reflect all adjustments, consisting of recurring accruals, which are, in the opinion of management, necessary for a fair presentation of such statements. These consolidated financial statements have been prepared in accordance with GAAP pursuant to the rules and regulations of the Securities and Exchange Commission. |
BASIS OF PRESENTATION | BASIS OF PRESENTATION The consolidated financial statements have been presented on a comparative basis. During the year ended December 31, 2017, the Company disposed of six subsidiaries. During the year ended December 31, 2016, the Company disposed of two subsidiaries. The results of certain of these subsidiaries are included within discontinued operations for the years ended December 31, 2017 and 2016. The Company retrospectively updated the consolidated financial statements as of and for the year ended December 31, 2016 to reflect this change. |
REVERSE STOCK SPLITS | REVERSE STOCK SPLITS On July 7, 2017, the Company filed a Certificate of Amendment of its Certificate of Incorporation that effected a one-for-four reverse split of the Company’s issued and outstanding shares of common stock, par value $0.0001 per share, effective as of the open of trading on July 12, 2017. The Company’s stockholders, at the 2016 Annual Meeting of Stockholders, had previously authorized the Company’s Board of Directors to effect a reverse stock split within a range of ratios, including one-for-four, at any time within one year following such Annual Meeting, as determined by the board. On February 22, 2018, the Company filed a Certificate of Amendment of its Certificate of Incorporation that effected a one-for-one hundred reverse split of the Company’s issued and outstanding shares of common stock, par value $0.0001 per share, effective as of the open of trading on February 23, 2018. The Company’s stockholders, by written consent dated December 5, 2017, had previously authorized the Company’s Board of Directors to effect a reverse stock split within a range of ratios, including one-for-one hundred, at any time within one year following the date of such written consent, as determined by the board. All common share, warrant, stock option, and per share information in the consolidated financial statements gives retroactive effect to the one-for-four reverse stock split that was effected on July 12, 2017 and the one-for-one hundred reverse stock split that was effected on February 23, 2018. There was no change to the number of authorized shares of common stock of the Company as a result of the reverse stock split. The par value of the Company’s common stock was unchanged at $0.0001 per share post-split. |
USE OF ESTIMATES | USE OF ESTIMATES The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities as of the date of the financial statements and the reported amounts of revenue and expense during the reporting period. Changes in estimates and assumptions are reflected in reported results in the period in which they become known. Significant uses of estimates include the following: 1) valuation of derivative instruments, 2) allowance for doubtful accounts, 3) estimated useful lives of property, equipment and intangible assets, 4) valuation of contingent consideration, 5) revenue recognition, 6) estimates related to the recovery of deferred tax assets, 7) valuation of intangible assets, 8) goodwill impairment, 9) recoverability of indefinite lived intangible assets, 10) estimates in connection with the allocation of the purchase price allocations, 11) stock-based compensation valuation, and 12) inventory reserve. Actual results could differ from estimates. |
SEGMENT INFORMATION | SEGMENT INFORMATION During 2016, the Company consummated the sale of certain assets of its former VaultLogix and Axim subsidiaries. These subsidiaries comprised the Company’s former cloud services segment. Additionally, during 2017, the Company sold the assets of its IPC subsidiary and returned its interest in Nottingham. These entities comprised the Company’s former managed services segment. As such, the Company concluded that it had two reportable segments as of December 31, 2017: applications and infrastructure and professional services. The Company’s reporting units have been aggregated into one of two operating segments due to their similar economic characteristics, products, or production and distribution methods. The first operating segment is applications and infrastructure, which is comprised of the components TNS, the AWS Entities (sold by the Company in April 2017), Tropical (sold by the Company in April 2017 in connection with the sale of the AWS Entities), and RM Engineering. The Company’s second operating segment is professional services, which consists of the ADEX entities (sold by the Company in February 2018) and SDNE (sold by the Company in May 2017). The operating segments mentioned above constitute reporting segments. Refer to Note 20, Segment Information, for a detailed discussion on the change in reporting segments. |
CASH AND CASH EQUIVALENTS | CASH AND CASH EQUIVALENTS Cash consists of checking accounts and money market accounts. The Company considers all highly-liquid investments purchased with a maturity of three months or less at the time of purchase to be cash. |
ACCOUNTS RECEIVABLE AND ALLOWANCE FOR DOUBTFUL ACCOUNTS | ACCOUNTS RECEIVABLE AND ALLOWANCE FOR DOUBTFUL ACCOUNTS Trade accounts receivable are recorded at the invoiced amount and do not bear interest. Management reviews a customer’s credit history before extending credit. The Company maintains an allowance for doubtful accounts for estimated losses resulting from the inability of its customers to make required payments. Estimates of uncollectible amounts are reviewed each period, and changes are recorded in the period in which they become known. Management analyzes the collectability of accounts receivable each period. This review considers the aging of account balances, historical bad debt experience, changes in customer creditworthiness, current economic trends, customer payment activity and other relevant factors. Should any of these factors change, the estimate made by management may also change. Allowance for doubtful accounts was $696 and $412 at December 31, 2017 and 2016, respectively. |
BUSINESS COMBINATIONS | BUSINESS COMBINATIONS The Company accounts for its business combinations under the provisions of Accounting Standards Codification (“ASC”) Topic 805-10, Business Combinations The estimated fair value of net assets acquired, including the allocation of the fair value to identifiable assets and liabilities, was determined using Level 3 inputs in the fair value hierarchy. The estimated fair value of the intangible assets acquired was determined using the income approach to valuation based on the discounted cash flow method. Under this method, expected future cash flows of the business on a stand-alone basis are discounted back to a present value. The estimated fair value of identifiable intangible assets, consisting of customer relationships, the trade names and non-compete agreements acquired, also were determined using an income approach to valuation based on excess cash flow, relief of royalty and discounted cash flow methods. The discounted cash flow valuation method requires the use of assumptions, the most significant of which include: future revenue growth, future earnings before interest, taxes, depreciation and amortization, estimated synergies to be achieved by a market participant as a result of the business combination, marginal tax rate, terminal value growth rate, weighted average cost of capital and discount rate. The excess earnings method used to value customer relationships requires the use of assumptions, the most significant of which include: the remaining useful life, expected revenue, survivor curve, earnings before interest and tax margins, marginal tax rate, contributory asset charges, discount rate and tax amortization benefit. The most significant assumptions under the relief of royalty method used to value trade names include: estimated remaining useful life, expected revenue, royalty rate, tax rate, discount rate and tax amortization benefit. The discounted cash flow method used to value non-compete agreements includes assumptions such as: expected revenue, term of the non-compete agreements, probability and ability to compete, operating margin, tax rate and discount rate. Management has developed these assumptions based on historical knowledge of the business and projected financial information of the Company. These assumptions may vary based on future events, perceptions of different market participants and other factors outside the control of management, and such variations may be significant to estimated values. |
GOODWILL AND INDEFINTITE LIVED INTANGIBLE ASSETS | GOODWILL AND INDEFINTITE LIVED INTANGIBLE ASSETS Goodwill was generated through the acquisitions made by the Company. As the total consideration paid exceeded the value of the net assets acquired, the Company recorded goodwill for each of the completed acquisitions. At the date of acquisition, the Company performed a valuation to determine the value of the intangible assets, along with the allocation of assets and liabilities acquired. The goodwill is attributable to synergies and economies of scale provided to the Company by the acquired entity (refer to Note 5, Acquisitions and Disposals of Subsidiaries, for further detail). During the fourth quarter of 2015, the Company changed the date of its annual impairment test from December 31 to October 1. The change was made to more closely align the impairment testing date with the Company’s long-range planning and forecasting process. The Company believes the change in its annual impairment testing date did not delay, accelerate, or avoid an impairment charge. The Company has determined that this change in accounting principle is preferable under the circumstances and does not result in adjustments to the Company’s financial statements when applied retrospectively. The Company tests its goodwill and indefinite-lived intangible assets for impairment at least annually (as of October 1) and whenever events or circumstances change that indicate impairment may have occurred. A significant amount of judgment is involved in determining if an indicator of impairment has occurred. Such indicators may include, among others: a significant decline in the Company’s expected future cash flows; a sustained, significant decline in the Company’s stock price and market capitalization; a significant adverse change in legal factors or in the business climate of its segments; unanticipated competition; and slower growth rates. Any adverse change in these factors could have a significant impact on the recoverability of goodwill, the indefinite-lived intangible assets and the Company’s consolidated financial results. Goodwill has been assigned to the reporting unit to which the value relates. The Company aggregates its reporting units and tests its goodwill for impairment at the operating segment level. The Company tests goodwill by estimating the fair value of the reporting unit using a Discounted Cash Flow (“DCF”) model. The key assumptions used in the DCF model to determine the highest and best use of estimated future cash flows include revenue growth rates and profit margins based on internal forecasts, terminal value and an estimate of a market participant’s weighted-average cost of capital used to discount future cash flows to their present value. The Company tested the indefinite-lived intangible assets using a Relief From Royalty Method (“RFRM”) under the Income Approach in conjunction with a Market Approach Method. The key assumptions used in the RFRM model include revenue growth rates, the terminal value and the assumed discount rate. The Market Approach Method uses one or more methods that compare the Company to similar businesses, business ownership interest and securities that have been sold. Certain elements of the Market Approach Method are incorporated in the RFRM. While the Company uses available information to prepare estimates and to perform impairment evaluations, actual results could differ significantly from these estimates or related projections, resulting in impairment related to recorded goodwill balances. Additionally, adverse conditions in the economy and future volatility in the equity and credit markets could impact the valuation of the Company’s reporting units. The Company can provide no assurances that, if such conditions occur, they will not trigger impairments of goodwill and other intangible assets in future periods within all segments. With regard to other long-lived assets and intangible assets with indefinite-lives, the Company follows a similar impairment assessment. The Company will assess the quantitative factors to determine if an impairment test of the indefinite-lived intangible asset is necessary. If the quantitative assessment reveals that it is more likely than not that the asset is impaired, a calculation of the asset’s fair value is made. Fair value is calculated using many factors, which include the future discounted cash flows as well as the estimated fair value of the asset in an arm’s-length transaction. |
REVENUE RECOGNITION | REVENUE RECOGNITION The Company’s revenues are generated from its two reportable segments: applications and infrastructure and professional services. The Company recognizes revenue on arrangements in accordance with ASC Topic 605-10, “ Revenue Recognition The applications and infrastructure segment is comprised of TNS, the AWS Entities (sold by the Company in April 2017), Tropical (sold by the Company in April 2017 in connection with the sale of the AWS Entities), and RM Engineering. Applications and infrastructure service revenue is derived from contracted services to provide technical engineering services along with contracting services to commercial and governmental customers. The contracts of TNS and RM Engineering provide that payment for the Company’s services may be based on either (i) direct labor hours at fixed hourly rates or (ii) fixed-price contracts. The services provided under the contracts are generally provided within one month. Occasionally, the services may be provided over a period of up to six months. The AWS Entities, which was sold by the Company in April 2017, and which included 8760 Enterprises from September 14, 2016 through December 31, 2016, generally recognized revenue using the percentage of completion method. Revenues and fees under the contracts of these entities were recognized utilizing the units-of-delivery method, which used measures such as task completion within an overall contract. The units-of-delivery approach is an output method used in situations where it is more representative of progress on a contract than an input method, such as the efforts-expended approach. Provisions for estimated losses on uncompleted contracts, if any, were made in the period in which such losses were determined. Changes in job performance conditions and final contract settlements could have resulted in revisions to costs and income, which were recognized in the period in which revisions were determined. The AWS Entities also generated revenue from service contracts with certain customers. These contracts were accounted for under the proportional performance method. Under this method, revenue was recognized in proportion to the value provided to the customer for each project as of each reporting date. The revenues of the Company’s professional services segment, which was comprised of its ADEX subsidiaries (sold by the Company in February 2018) and SDNE (sold by the Company in May 2017), were derived from contracted services to provide technical engineering and management solutions to large voice and data communications providers, as specified by their clients. The contracts provided that payments made for the Company’s services might have been based on either (i) direct labor hours at fixed hourly rates or (ii) fixed-price contracts. The services provided under these contracts were generally provided within one month. Occasionally, the services might have been provided over a period of up to four months. If it was anticipated that the services would span a period exceeding one month, depending on the contract terms, we provided either progress billing at least once a month or upon completion of the clients’ specifications. The aggregate amount of unbilled work-in-progress recognized as revenues was insignificant at December 31, 2017 and 2016. ADEX’s former Highwire division (“Highwire”), sold by the Company in February 2017, generated revenue through its telecommunications engineering group, which contracted with telecommunications infrastructure manufacturers to install the manufacturer’s products for end users. This division of ADEX recognized revenue using the proportional performance method. Under this method, revenue was recognized as projects within contracts were completed as of each reporting date. The Company’s applications and infrastructure segment sometimes requires customers to provide a deposit prior to beginning work on a project. When this occurs, the deposit is recorded as deferred revenue and is recognized in revenue when the work is complete. The Company’s former IPC subsidiary, which was included in the Company’s managed services segment and sold by the Company during November 2017, was a value-added reseller that generated revenues from the resale of voice, video and data networking hardware and software contracted services for design, implementation and maintenance services for voice, video, and data networking infrastructure. IPC’s customers were higher education organizations, governmental agencies and commercial customers. IPC also provided maintenance and support and professional services. For certain maintenance contracts, IPC assumed responsibility for fulfilling the support to customers and recognized the associated revenue either on a ratable basis over the life of the contract or, if a customer purchased a time and materials maintenance program, as maintenance was provided to the customer. Revenue for the sale of third-party maintenance contracts was recognized net of the related cost of revenue. In a maintenance contract, all services were provided by the Company’s third-party providers. As a result, the Company concluded that IPC was acting as an agent and IPC recognized revenue on a net basis at the date of sale with revenue being equal to the gross margin on the transaction. As IPC was under no obligation to perform additional services, revenue was recognized at the time of sale rather than over the life of the maintenance agreement. IPC also generated revenue through the sale of a subscription-based cloud services to its customers. Revenue related to these customers was deferred until the services were performed. This revenue was reported in the former managed services segment. For multiple-element arrangements, IPC recognized revenue in accordance with ASC Topic 605-25, Arrangements with Multiple Deliverables IPC revenue has been included in discontinued operations for the years ended December 31, 2017 and 2016. The Company’s former VaultLogix subsidiary, which was sold in February 2016, provided cloud-based on-line data backup services to its customers. Certain customers paid for their services before service began. Revenue for these customers was deferred until the services were performed. For all services, VaultLogix recognized revenue when services were provided, evidence of an arrangement existed, fees were fixed or determinable and collection was reasonably assured. |
LONG-LIVED ASSETS, INCLUDING DEFINITE-LIVED INTANGIBLE ASSETS | LONG-LIVED ASSETS, INCLUDING DEFINITE-LIVED INTANGIBLE ASSETS Long-lived assets, other than goodwill and other indefinite-lived intangibles, are evaluated for impairment whenever events or changes in circumstances indicate that the carrying amount of the assets may not be recoverable through the estimated undiscounted future cash flows derived from such assets. Definite-lived intangible assets primarily consist of non-compete agreements and customer relationships. For long-lived assets used in operations, impairment losses are only recorded if the asset's carrying amount is not recoverable through its undiscounted, probability-weighted future cash flows. The Company measures the impairment loss based on the difference between the carrying amount and the estimated fair value. When an impairment exists, the related assets are written down to fair value. |
PROPERTY AND EQUIPMENT | PROPERTY AND EQUIPMENT Property and equipment are stated at cost and depreciated on a straight-line basis over their estimated useful lives. Useful lives are: 3-7 years for vehicles; 5-7 years for equipment; 16 years for developed software; and 3 years for computers and office equipment. Maintenance and repairs are expensed as incurred and major improvements are capitalized. When assets are sold or retired, the cost and related accumulated depreciation are removed from the accounts and the resulting gain or loss is included in other income. |
CONCENTRATIONS OF RISK | CONCENTRATIONS OF RISK Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of cash and trade receivables. The Company maintains its cash balances with high-credit-quality financial institutions. Deposits held with banks may exceed the amount of insurance provided on such deposits. These deposits may be withdrawn upon demand and therefore bear minimal risk. The Company limits the amount of credit exposure through diversification and management regularly monitors the composition of its investment portfolio. The Company provides credit to customers on an uncollateralized basis after evaluating client creditworthiness. For the year ended December 31, 2017, the Company’s largest customer was Uline. This customer accounted for 17% of consolidated revenues for the year ended December 31, 2017. In addition, amounts due from this customer represented 4% of trade accounts receivable as of December 31, 2017. The Company did not have a customer accounting for 10% or greater of consolidated revenues for the year ended December 31, 2016. The Company’s customers in its applications and infrastructure and professional services segments are located within the United States of America and Puerto Rico. Revenues generated within the United States of America accounted for approximately 98% and 98% of consolidated revenues for the years ended December 31, 2017 and 2016, respectively. Revenues generated from foreign sources accounted for approximately 2% and 2% of consolidated revenues for the years ended December 31, 2017 and 2016, respectively. |
COMMITMENTS AND CONTINGENCIES | COMMITMENTS AND CONTINGENCIES In the normal course of business, the Company is subject to various contingencies. The Company records a contingency in the consolidated financial statements when it is probable that a liability will be incurred and the amount of the loss is reasonably estimable, or otherwise disclosed, in accordance with ASC Topic 450, Contingencies Breach of Contract Action In July 2013, a complaint was filed against the Company in the Circuit Court of the 15th Judicial Circuit in and for Palm Beach County, Florida titled The Farkas Group, Inc., The Atlas Group of Companies, LLC and Michael D. Farkas v. InterCloud Systems, Inc. (Case No. 502013CA01133XXXMB) for breach of contract and unjust enrichment. In the complaint, the plaintiffs allege that the Company has breached contractual agreements between the Company and plaintiffs pertaining to certain indebtedness amounting to approximately $116 allegedly owed by the Company to the plaintiffs and the Company’s agreement to convert such indebtedness into shares of the Company’s common stock. The plaintiff alleges that they are entitled to receive in the aggregate 5,426 shares of the Company’s common stock or aggregate damages reflecting the trading value at the high price for the common stock. The Company has asserted as a defense that such indebtedness, together with any right to convert such indebtedness into shares of common stock, was cancelled pursuant to the terms of a Stock Purchase Agreement dated as of July 2, 2009 between the Company and the plaintiffs. The Farkas Group was a control person of the Company during the period that it was a public “shell” company and facilitated the transfer of control of the Company to its former chief executive officer, Gideon Taylor. This matter is presently set on the court’s non-jury trial docket. The Company intends to continue to vigorously defend this lawsuit. On May 15, 2017, a complaint was filed against the Company in the Supreme Court of the State of New York, County of New York titled Grant Thornton LLP v. InterCloud Systems, Inc InterCloud Systems, Inc. v. Grant Thornton LLP Securities and Exchange Commission Subpoenas On May 21, 2014, the Company received a subpoena from the SEC that stated that the staff of the SEC is conducting an investigation In the Matter of Galena Biopharma, Inc. File No. HO 12356 (now known as “In the Matter of Certain Stock Promotions”) and that the subpoena was issued to the Company as part of an investigation as to whether certain investor relations firms and their clients engaged in market manipulation. The subpoena and accompanying letter did not indicate whether the Company is, or is not, under investigation. Since May 2014, the Company provided testimony to the SEC and produced documents in response to that subpoena and several additional subpoenas received from the SEC in connection with that matter, including a subpoena issued on March 1, 2016 requesting information relating to a transaction involving the Company’s Series H preferred shares in December 2013. In connection with the SEC investigation, in May 2015, the Company received information from the SEC that it is continuing an investigation of the Company and certain of its current and former officers, consultants of the Company and others, of “possible violation[s]” of Section 17(a) of the Securities Act and Sections 9(a) and 10(b) of the Exchange Act and the rules of the SEC thereunder in the offer or sale of securities and certain other matters with respect to which the SEC claims it has information, including the possible market manipulation of the Company’s securities dating back to January 2013. Based upon the Company’s internal investigations, the Company does not believe either it or any of its current or former officers or directors engaged in any activities that violated applicable securities laws. The Company intends to continue to work with the staff of the SEC towards a resolution and to supplement its disclosure regarding the SEC’s investigation accordingly. On April 2, 2018, the Company received a notification from the SEC that they were closing the investigation and do not intend to recommend enforcement action against the Company. Other From time to time, the Company may become a party to litigation and subject to claims incident to the ordinary course of its business. Although the results of such litigation and claims in the ordinary course of business cannot be predicted with certainty, the Company believes that the final outcome of such matters will not have a material adverse effect on its business, results of operations or financial condition. Regardless of outcome, litigation can have an adverse impact on the Company because of defense costs, diversion of management resources and other factors. As of December 31, 2017, no accruals for loss contingencies have been recorded as the outcomes of these cases are neither probable nor reasonably estimable. The Company has obligations contingent on the performance of its subsidiaries. These contingent obligations, payable to the former owners of the subsidiaries, are based on metrics that contain escalation clauses. The Company believes that the amounts recorded within the liabilities section of the consolidated balance sheets are indicative of fair value and are also considered the most likely payout of these obligations. If conditions were to change, these liabilities could potentially impact the Company’s results of operations, financial condition and future cash flows. |
DISTINGUISHMENT OF LIABILITIES FROM EQUITY | DISTINGUISHMENT OF LIABILITIES FROM EQUITY The Company relies on the guidance provided by ASC Topic 480, Distinguishing Liabilities from Equity Once the Company determines that a financial instrument should not be classified as a liability, the Company determines whether the financial instrument should be presented between the liability section and the equity section of the balance sheet (“temporary equity”). The Company will determine temporary equity classification if the redemption of the financial instrument is outside the control of the Company (i.e. at the option of the holder). Otherwise, the Company accounts for the financial instrument as permanent equity. Initial Measurement The Company records its financial instruments classified as liability, temporary equity or permanent equity at issuance at the fair value, or cash received. Subsequent Measurement - Financial instruments classified as liabilities The Company records the fair value of its financial instruments classified as liabilities at each subsequent measurement date. The changes in fair value of its financial instruments classified as liabilities are recorded as other expense/income. The Monte Carlo simulation is used to determine the fair value of derivatives for instruments with embedded conversion features. Derivative Liabilities The Company accounts for derivative instruments in accordance with ASC Topic 815, Derivatives and Hedging |
INCOME TAXES | INCOME TAXES The Company accounts for income taxes under the asset and liability method. This approach requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of temporary differences between the carrying amounts and the tax bases of assets and liabilities and are measured using the enacted tax rates and laws that will be in effect when the differences are expected to reverse. Valuation allowances are established to reduce deferred tax assets when management estimates, based on available objective evidence, that it is more likely than not that the benefit will not be realized for the deferred tax assets. The Company, and its subsidiaries, conduct business, and file income, franchise or net worth tax returns, in thirty nine (39) states and the Commonwealth of Puerto Rico. The Company determines its filing obligations in a jurisdiction in accordance with existing statutory and case law. Significant management judgment is required in determining the provision for income taxes, and in particular, any valuation allowance recorded against the Company’s deferred tax assets. Deferred tax assets are regularly reviewed for recoverability. The Company currently has significant deferred tax assets resulting from net operating loss carryforwards and deductible temporary differences, which should reduce taxable income in future periods. The realization of these assets is dependent on generating future taxable income. The Company follows the guidance set forth within ASC Topic 740, Income Taxes |
STOCK-BASED COMPENSATION | STOCK-BASED COMPENSATION The Company accounts for stock-based compensation in accordance with ASC Topic 718, Compensation-Stock Compensation The Company applies ASC 505-50, Equity Based Payments to Non-Employees |
NET LOSS PER SHARE | NET LOSS PER SHARE The Company follows ASC Topic 260, Earnings Per Share In the accompanying financial statements, basic income (loss) per share is computed by dividing net income (loss) by the weighted average number of shares of common stock outstanding during the period. Diluted income (loss) per share is computed in a manner similar to the basic income (loss) per share, except the weighted-average number of shares outstanding is increased to include all common shares, including those with the potential to be issued by virtue of warrants, options, convertible debt and other such convertible instruments. Diluted loss per share contemplates a complete conversion to common shares of all convertible instruments only if they are dilutive in nature with regards to earnings per share. Diluted Earnings per Share (“Diluted EPS”) gives effect to all dilutive potential common shares outstanding during the period. The computation of Diluted EPS does not assume conversion, exercise or contingent exercise of securities that would have an anti-dilutive effect on losses. As a result, if there is a loss from continuing operations, Diluted EPS is computed in the same manner as Basic EPS. As of December 31, 2017, the Company’s common stock equivalents included 80,569,943 shares that could be converted based on certain convertible preferred stock, 13,742,977 shares that could be converted based on outstanding debt, 33,339 shares related to outstanding warrants, and 417 shares related to outstanding options that were not included in the calculation of earnings per share for the period then ended. As of December 31, 2016, the Company’s common stock equivalents included 166,262 shares that could be converted based on outstanding debt, 22,085 shares related to outstanding warrants, and 438 shares related to outstanding options that were not included in the calculation of earnings per share for the period then ended. Such financial instruments may become dilutive and would then need to be included in future calculations of Diluted EPS. Potential common shares includable in the computation of fully-diluted per share results are not presented for the years ended December 31, 2017 and 2016 in the consolidated financial statements as their effect would be anti-dilutive. |
FAIR VALUE OF FINANCIAL INSTRUMENTS | FAIR VALUE OF FINANCIAL INSTRUMENTS ASC Topic 820 Fair Value Measurements and Disclosures ASC Topic 820 defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. ASC Topic 820 establishes a fair value hierarchy that distinguishes between (1) market participant assumptions developed based on market data obtained from independent sources (observable inputs) and (2) an entity's own assumptions about market participant assumptions developed based on the best information available in the circumstances (unobservable inputs). The fair value hierarchy consists of three broad levels, which gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). The three levels of the fair value hierarchy under ASC Topic 820 are described as follows: ● Level 1 — Unadjusted quoted prices in active markets for identical assets or liabilities that are accessible at the measurement date. ● Level 2 — Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly. Level 2 inputs include quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities in markets that are not active; inputs other than quoted prices that are observable for the asset or liability; and inputs that are derived principally from or corroborated by observable market data by correlation or other means. ● Level 3 — Inputs that are unobservable for the asset or liability. |
TREASURY STOCK | TREASURY STOCK The Company records treasury stock at the cost to acquire it and includes treasury stock as a component of stockholders’ deficit. |
RECENT ACCOUNTING PRONOUNCEMENTS | RECENT ACCOUNTING PRONOUNCEMENTS On May 28, 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (“Topic 606”), to update the financial reporting requirements for revenue recognition. Topic 606 outlines a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and supersedes most current revenue recognition guidance, including industry-specific guidance. The guidance is based on the principle that an entity should recognize revenue to depict the transfer of goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The guidance also requires additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments and assets recognized from costs incurred to fulfill a contract. This guidance became effective for the Company beginning on January 1, 2018, and entities have the option of using either a full retrospective or a modified retrospective approach for the adoption of the new standard. The adopted this standard using the modified retrospective approach on January 1, 2018. In preparation for adoption of the standard, the Company evaluated each of the five steps in Topic 606, which are as follows: 1) Identify the contract with the customer; 2) Identify the performance obligations in the contract; 3) Determine the transaction price; 4) Allocate the transaction price to the performance obligations; and 5) Recognize revenue when (or as) performance obligations are satisfied. The Company does not expect reported revenue to be affected materially in any period due to the adoption of ASC Topic 606 because: (1) the Company expects to identify similar performance obligations under Topic 606 as compared with deliverables and separate units of account previously identified; (2) the Company has determined the transaction price to be consistent; and (3) the Company records revenue at the same point in time, upon delivery of services, under both ASC Topic 605 and Topic 606, as applicable under the terms of the contract with the customer. Additionally, the Company does not expect the accounting for fulfillment costs or costs incurred to obtain a contract to be affected materially in any period due to the adoption of Topic 606. There are also certain considerations related to accounting policies, business processes and internal control over financial reporting that are associated with implementing Topic 606. The Company has evaluated its policies, processes, and control framework for revenue recognition, and identified and implemented the changes needed in response to the new guidance. Lastly, disclosure requirements under the new guidance in Topic 606 have been significantly expanded in comparison to the disclosure requirements under the current guidance, including disclosures related to disaggregation of revenue into appropriate categories, performance obligations, the judgments made in revenue recognition determinations, adjustments to revenue which relate to activities from previous quarters or years, any significant reversals of revenue, and costs to obtain or fulfill contracts. In November 2015, the FASB issued ASU No. 2015-17, Income Taxes (Topic 740) – Balance Sheet Classification of Deferred Taxes In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) In March 2016, the FASB issued ASU No. 2016-06, Derivatives and Hedging (Topic 815): Contingent Put and Call Options in Debt Instruments In March 2016, the FASB issued ASU No. 2016-07, Investments – Equity Method and Joint Ventures (Topic 323): Simplifying the Transition to the Equity Method of Accounting In March 2016, the FASB issued ASU 2016-09, Compensation—Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting In May 2016, the FASB issued ASU 2016-11, Revenue Recognition (Topic 605) and Derivatives and Hedging (Topic 815): Rescission of SEC Guidance Because of Accounting Standards Updates 2014-09 and 2014-16 Pursuant to Staff Announcements at the March 3, 2016 EITF Meeting In August 2016, the FASB issued Accounting Standards Update (“ASU”) 2016-15, Statement of Cash Flows (Topic 230) Classification of Certain Cash Receipts and Cash Payments In October 2016, the FASB issued ASU No. 2016-17, Consolidation: Interests Held through Related Parties That Are Under Common Control In January 2017, the FASB issued ASU 2017-01, Business Combinations (Topic 805) Clarifying the Definition of a Business In January 2017, the FASB issued ASU No. 2017-04, Intangibles-Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment In May 2017, the FASB issued ASU no. 2017-09, Compensation—Stock Compensation (Topic 718): Scope of Modification Accounting In July 2017, the FASB issued ASU 2017-11, Earnings Per Share (Topic 260), Distinguishing Liabilities from Equity (Topic 480) and Derivatives and Hedging (Topic 815): I. Accounting for Certain Financial Instruments with Down Round Features; II. Replacement of the Indefinite Deferral for Mandatorily Redeemable Financial Instruments of Certain Nonpublic Entities and Certain Mandatorily Redeemable Noncontrolling Interests with a Scope Exception. |
Loans Receivable (Tables)
Loans Receivable (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Loans Receivable [Abstract] | |
Schedule of loans receivable | December 31, 2017 2016 Loans to employees, net of reserves of $924 and $891, respectively, due December 2018 $ 4 $ 37 Loan to third party, due December 2017 $ - $ 345 Fair value of convertible loan receivable from Spectrum Global Solutions, Inc., due April 2018 $ 3,613 $ - Loans receivable $ 3,617 $ 382 |
Schedule of fair value derivative asset factors, assumptions and methodologies | December 31, 2017 Principal amount and guaranteed interest $ 2,005 Conversion price per share * Conversion trigger price per share None Risk free rate 1.39 % Life of conversion feature (in years) 0.32 Volatility 272 % * The conversion price per share is equal to 75% of the lowest VWAP during the fifteen trading days immediately prior to the conversion date. |
Acquisitions and Disposals of_2
Acquisitions and Disposals of Subsidiaries (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Acquisitions And Disposals Of Subsidiaries [Abstract] | |
Schedule of pro forma data | For the year ended December 31, 2017 2016 Revenue $ 29,249 $ 31,644 Loss from continuing operations (30,259 ) (19,477 ) Net loss (31,818 ) (25,149 ) Net loss attributable to InterCloud Systems, Inc. common stockholders (31,262 ) (25,160 ) Loss per share attributable to InterCloud Systems, Inc. common stockholders, basic and diluted: (10.26 ) (239.93 ) |
Property and Equipment, Net (Ta
Property and Equipment, Net (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Property and Equipment, Net [Abstract] | |
Schedule of property and equipment | December 31, 2017 2016 Vehicles $ 646 $ 748 Computers and Office Equipment 93 422 Equipment 262 764 Software - 176 Total 1,001 2,110 Less accumulated depreciation (957 ) (1,764 ) Property and equipment, net $ 44 $ 346 |
Goodwill and Intangible Assets
Goodwill and Intangible Assets (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Goodwill and Intangible Assets [Abstract] | |
Summary of goodwill | Applications and Infrastructure Professional Services Total Balance December 31, 2015 $ 6,906 $ 9,257 $ 16,163 Acquisitions 565 824 1,389 Disposals (565 ) - (565 ) Balance December 31, 2016 $ 6,906 $ 10,081 $ 16,987 Disposals (4,979 ) (4,016 ) (8,995 ) Impairment Charge (1,927 ) (6,065 ) (7,992 ) Balance December 31, 2017 $ - $ - $ - |
Summary of intangible assets | December 31, 2017 Estimated Useful Life Beginning Net Book Value Additions Amortization Amortization Writeoff Impairment Charge Disposals Ending Net Book Value Accumulated Amortization Customer relationship and lists 7-10 yrs $ 4,521 $ - $ (456 ) $ 1,579 $ (69 ) $ (3,824 ) $ 1,751 $ (4,972 ) Non-compete agreements 2-3 yrs 248 - (27 ) 624 (160 ) (685 ) - (1,224 ) URL's Indefinite 8 - - - (5 ) (3 ) - - Trade names Indefinite 3,178 - - - (1,288 ) (982 ) 908 - Total intangible assets $ 7,955 $ - $ (483 ) $ 2,203 $ (1,522 ) $ (5,494 ) $ 2,659 $ (6,196 ) December 31, 2016 Estimated Useful Life Beginning Net Book Value Additions Amortization Amortization Writeoff Impairment Charge Disposals Ending Net Book Value Accumulated Amortization Customer relationship and lists 7-10 yrs $ 5,224 $ 145 $ (856 ) $ 8 $ - $ - $ 4,521 $ (6,095 ) Non-compete agreements 2-3 yrs 154 498 (287 ) 7 - (124 ) 248 (1,821 ) URL's Indefinite 8 - - - - - 8 - Trade names Indefinite 3,178 - - - - - 3,178 - Total intangible assets $ 8,564 $ 643 $ (1,143 ) $ 15 $ - $ (124 ) $ 7,955 $ (7,916 ) |
Summary of estimated future amortization expense | Year ending December 31, 2018 $ 420 2019 420 2020 420 2021 369 2022 122 Total $ 1,751 |
Accrued Expenses (Tables)
Accrued Expenses (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Accrued Expenses [Abstract] | |
Summary of accrued expenses | \ December 31, 2017 2016 Accrued interest $ 2,639 $ 7,170 Accrued expenses 2,602 1,774 Accrued compensation 2,767 716 $ 8,008 $ 9,660 |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Fair Value Measurements [Abstract] | |
Schedule of fair value hierarchy | Fair Value Measurements at Reporting Date Using Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs December 31, 2017 Liabilities: Current derivative features related to convertible debentures $ - $ - $ 3,145 Current derivative features related to warrant derivatives - - 234 Long-term derivative features related to convertible debentures - - 661 Long-term derivative features related to preferred stock - - 15,990 Fair value of Series M preferred stock - - 3,021 Total liabilities at fair value $ - $ - $ 23,051 December 31, 2016 Liabilities: Current derivative features related to convertible debentures $ - $ - $ 1,749 Contingent consideration - - 515 Long-term derivative features related to convertible debentures - - 1,316 Total liabilities at fair value $ - $ - $ 3,580 |
Summary of changes in fair value Level 3 financial instruments | Amount Balance as of January 1, 2016 $ 17,538 Change in fair value of derivative features related to convertible debentures (19,660 ) Change in fair value of warrant derivative 130 Fair value of contingent consideration 515 Fair value of derivative features related to JGB (Cayman) Concord Ltd. term loan 1,350 Adjustment of derivative liability upon extinguishment of debt 4,778 Fair value of make whole provision 280 Adjustment of derivative liability upon conversion of debt (41 ) Adjustment of derivative liability upon modification of debt (1,552 ) Fair value of derivative features related to Dominion term loan 242 Balance December 31, 2016 3,580 Change in fair value of derivative features related to convertible debentures (3,139 ) Change in fair value of warrant derivative 952 Reclassification of equity warrants to derivative 110 Fair value of JGB warrant derivative 65 Adjustment of derivative liability upon extinguishment of debt 2,241 Adjustment of make-whole provision upon payment (815 ) Fair value of derivative features related to MEF I, L.P. 250 Fair value of derivative features related to Dominion term loan 38 Fair value of derivative features related to RDW term loan 39 Cancellation of 8760 warrants (2 ) Settlement of contingent consideration (515 ) Reclassification of derivative warrants to equity (45 ) Adjustment upon exercise of JGB derivative warrant (1,000 ) Fair value of derivative features related to RDW term loan (July) 126 Fair value of derivative features related to RDW term loan (Sept) 122 Fair value of derivative features related to extinguishment RDW term loan (Hannibal ext) 911 Fair value of derivative features related to RDW term loan (Jadevaia) 374 Fair value of derivative features related to RDW term loan (London Bay exchange) 282 Fair value of derivative features related to London Bay term loan 600 Fair value of derivative features related to Westview term loan 282 Fair value of derivative features related to Series K preferred stock 15,748 Fair value of derivative features related to Series L preferred stock 1,664 Change in fair value of preferred stock derivatives (1,422 ) Fair value of Series M preferred stock 3,015 Change in fair value of Series M preferred stock 6 Adjustment of derivative liability upon conversion of debt (416 ) Balance December 31, 2017 $ 23,051 |
Bank Debt (Tables)
Bank Debt (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Bank Debt / Term Loans [Abstract] | |
Schedule of bank debt | December 31, 2017 2016 Two lines of credit, monthly principal and interest, ranging from $0 to $1, average interest of 14.2%, guaranteed personally by principal shareholders of acquired companies, maturing July 2018 $ 103 $ 121 Equipment finance agreement, monthly principal of $1, maturing February 2020 11 - 114 121 Less: Current portion of bank debt (114 ) (121 ) Long-term portion of bank debt $ - $ - |
Term Loans (Tables)
Term Loans (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Bank Debt / Term Loans [Abstract] | |
Schedule of long term debt | December 31, 2017 2016 Former owners of RM Leasing, unsecured, non-interest bearing, due on demand $ 2 $ 2 Promissory note with company under common ownership by former owner of Tropical, 9.75% interest, monthly payments of interest only of $1, unsecured and personally guaranteed by officer, matured in November 2016 - 106 London Bay - VL Holding Company, LLC convertible promissory note, unsecured, 0% and 8.8% interest, respectively, maturing in October 2018 1,403 7,408 WV VL Holding Corp convertible promissory note, unsecured, 0% and 8.8% interest, respectively, maturing in October 2018 2,005 7,003 8% convertible promissory note, Tim Hannibal, unsecured, matured in October 2017 - 1,215 12% senior convertible note, unsecured, Dominion Capital, matured in January 2017, net of debt discount of $29 - 1,170 12% convertible note, Richard Smithline, unsecured, matured in January 2017, net of debt discount of $0 and $2, respectively - 360 Senior secured convertible debenture, JGB (Cayman) Waltham Ltd., bearing interest of 4.67%, maturing in May 2019, net of debt discount of $0 and $3,136, respectively 3,091 1,900 Senior secured convertible note, JGB (Cayman) Concord Ltd., bearing interest at 4.67%, maturing in May 2019, net of debt discount of $0 and $1,668, respectively 11 2,080 Senior secured note, JGB (Cayman) Waltham Ltd., bearing interest at 4.67%, maturing in May 2019, net of debt discount of $0 and $234, respectively 294 358 6% senior convertible term promissory note, unsecured, Dominion Capital, matured on January 31, 2018, net of debt discount of $1 69 - 12% senior convertible note, unsecured, Dominion Capital, matured in November 2017, net of debt discount of $0 and $65, respectively 75 475 Receivables Purchase Agreement with Dominion Capital, net of debt discount of $44 - 430 Promissory note issued to Trinity Hall, 3% interest, unsecured, matured in January 2018 500 500 9.9% convertible promissory note, RDW Capital LLC. July 14, 2017 Note, maturing on July 14, 2018, net of debt discount of $74 81 - 9.9% convertible promissory note, RDW Capital LLC. September 27, 2017 Note, maturing on September 27, 2018, net of debt discount of $91 64 - 9.9% convertible promissory note, RDW Capital LLC. October 12, 2017 Note, maturing on October 12, 2018 480 - 9.9% convertible promissory note, RDW Capital LLC. December 8, 2017 Note, maturing on December 8, 2018 133 - Promissory notes issued to Forward Investments, LLC, between 2% and 10% interest, matured on July 1, 2016, unsecured 1,421 - Promissory notes issued to Forward Investments, LLC, 3% interest, matured on January 1, 2018, unsecured 1,752 - Promissory notes issued to Forward Investments, LLC, 6.5% interest, matured on July 1, 2016, unsecured 390 - Promissory note to Tim Hannibal, 8% interest, matured on January 9, 2018, unsecured 300 - 12,071 23,007 Less: Current portion of term loans (11,013 ) (21,147 ) Long-term portion term loans, net of debt discount $ 1,058 $ 1,860 |
Schedule of future annual principal payments of term loan | Year ending December 31, 2018 $ 11,179 2019 1,058 Total principal payments $ 12,237 |
Schedule of future annual amortization of debt discounts | Year ending December 31, 2018 $ 166 Thereafter - Total debt discount amortization $ 166 |
Derivative Instruments (Tables)
Derivative Instruments (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
MidMarket Warrants [Member] | |
Derivative [Line Items] | |
Summary of assumptions and methodologies for calculation using a binomial lattice pricing model | Year Ended December 31, 2017 2016 Fair value of Company’s common stock $ 0.27 $ 12.00 Volatility (closing prices of 3-4 comparable public companies, including the Company’s historical volatility) 215 % 120 % Exercise price per share $ 1,600.00 - $2,000.00 $ 1,600.00 - $2,000.00 Estimated life 0.7 years 1.7 years Risk free interest rate (based on 1-year treasury rate) 1.65 % 0.12 % |
Forward Investments, LLC Convertible Feature [Member] | |
Derivative [Line Items] | |
Summary of fair value of derivative measurement using the Monte Carlo simulation with assumptions and methodologies | December 31, 2017 December 31, 2016 Principal and interest amount $ 1,810 $ 582 $ 1,270 $ 2,438 $ 3,210 $ 390 $ 1,025 $ 4,373 Conversion price per share * * * * $ 312.00 $ 312.00 $ 312.00 $ 312.00 Risk free rate 2.00 % 2.00 % 1.39 % 1.39 % 1.93 % 1.93 % 0.51 % 0.85 % Life of conversion feature (in years) 4.0 4.0 0.3 0.0 5.0 5.0 0.3 1.0 Volatility 142 % 142 % 195 % 195 % 100 % 100 % 135 % 120 % * The conversion price per share is equal to the lesser of $7.80 or 95% of VWAP on the conversion date. |
Dominion Capital LLC [Member] | |
Derivative [Line Items] | |
Summary of fair value of derivative measurement using the Monte Carlo simulation with assumptions and methodologies | December 31, Principal amount $ 1,198 Conversion price per share $ 500.00 Conversion trigger price per share None Risk free rate 0.44 % Life of conversion feature (in years) 0.10 Volatility 135 % |
Dominion Capital LLC One [Member] | |
Derivative [Line Items] | |
Summary of fair value of derivative measurement using the Monte Carlo simulation with assumptions and methodologies | December 31, December 31, Principal amount and guaranteed interest $ 75 $ 605 Conversion price per share * $ 40.00 Conversion trigger price per share None None Risk free rate 1.39 % 0.76 % Life of conversion feature (in years) 0.25 0.80 Volatility 195 % 120 % * The conversion price per share is equal to the lesser of $10.00 or 75% of average daily VWAP for the fifteen trading days prior to the conversion date. |
Dominion Capital LLC TWo [Member] | |
Derivative [Line Items] | |
Summary of fair value of derivative measurement using the Monte Carlo simulation with assumptions and methodologies | December 31, Principal amount and guaranteed interest $ 74 Conversion price per share * Conversion trigger price per share None Risk free rate 1.28 % Life of conversion feature (in years) 0.08 Volatility 310 % * The conversion price per share is equal to 70% of average daily VWAP for the fifteen trading days prior to the conversion date. |
JGB (Cayman) Waltham Ltd. [Member] | |
Derivative [Line Items] | |
Summary of fair value of derivative measurement using the Monte Carlo simulation with assumptions and methodologies | December 31, December 31, Principal amount $ 3,091 $ 5,034 Conversion price per share * $ 80.00 Conversion trigger price per share None $ 800.00 Risk free rate 1.76 % 1.31 % Life of conversion feature (in years) 1.41 2.41 Volatility 201 % 100 % * The conversion price per share is equal to the lesser of $4.00 or 80% of VWAP on the conversion date. |
JGB (Cayman) Waltham Ltd One [Member] | |
Derivative [Line Items] | |
Summary of fair value of derivative measurement using the Monte Carlo simulation with assumptions and methodologies | December 31, December 31, Principal amount $ 294 $ 593 Conversion price per share * $ 80.00 Conversion trigger price per share None $ 800.00 Risk free rate 1.39 % 0.62 % Life of conversion feature (in years) 0.00 0.58 Volatility 195 % 130 % * The conversion price per share is equal to the lesser of $4.00 or 80% of VWAP on the conversion date. |
JGB (Cayman) Concord Ltd. [Member] | |
Derivative [Line Items] | |
Summary of fair value of derivative measurement using the Monte Carlo simulation with assumptions and methodologies | December 31, December 31, Principal amount $ 11 $ 3,749 Conversion price per share * $ 80.00 Conversion trigger price per share None $ 800.00 Risk free rate 1.76 % 1.31 % Life of conversion feature (in years) 1.41 2.41 Volatility 201 % 100 % * The conversion price per share is equal to the lesser of $4.00 or 80% of VWAP on the conversion date. |
JGB Concord One [Member] | |
Derivative [Line Items] | |
Summary of fair value of derivative measurement using the Monte Carlo simulation with assumptions and methodologies | December 31, Fair value of Company's common stock $ 12.00 Volatility 120 % Exercise price 376.00 Estimated life 0.15 Risk free interest rate (based on 1-year treasury rate) 0.48 % |
SRFF Warrant and Derivative [Member] | |
Derivative [Line Items] | |
Summary of assumptions and methodologies for calculation using a binomial lattice pricing model | December 31, December 31, Fair value of Company's common stock $ 0.27 $ 12.00 Volatility 201 % 120 % Exercise price 0.400 0.400 Estimated life 0.25 0.25 Risk free interest rate (based on 1-year treasury rate) 1.39 % 0.57 % |
Reclassification of Equity Warrants [Member] | |
Derivative [Line Items] | |
Summary of assumptions and methodologies for calculation using a binomial lattice pricing model | GPB Warrant-1 GPB Warrant-2 GPB Warrant-3 JGB Exchange Warrants July 12, July 12, July 12, July 12, July 12, Fair value of Company's common stock $ 4.00 $ 4.00 $ 4.00 $ 4.00 $ 4.00 Volatility 141 % 141 % 141 % 210 % 210 % Exercise price 700.00 700.00 700.00 4.00 40.00 Estimated life 1.39 1.45 1.84 0.47 0.47 Risk free interest rate (based on 1-year treasury rate) 1.28 % 1.28 % 1.28 % 1.13 % 1.13 % |
RDW Convertible Promissory Note [Member] | |
Derivative [Line Items] | |
Summary of fair value of derivative measurement using the Monte Carlo simulation with assumptions and methodologies | December 31, Principal amount and guaranteed interest $ 162 Conversion price per share * Conversion trigger price per share None Risk free rate 1.53 % Life of conversion feature (in years) 0.53 Volatility 198 % * The conversion price per share is equal to the lesser of $4.00 or 75% of the average of the lowest 5 prices during the 7 days preceding the conversion date. |
RDW Convertible Promissory Note One [Member] | |
Derivative [Line Items] | |
Summary of fair value of derivative measurement using the Monte Carlo simulation with assumptions and methodologies | December 31, Principal amount and guaranteed interest $ 159 Conversion price per share * Conversion trigger price per share None Risk free rate 1.53 % Life of conversion feature (in years) 0.74 Volatility 187 % * The conversion price per share is equal to the lesser of $4.00 or 75% of the average of the lowest 5 prices during the 20 days preceding the conversion date. |
RDW October 12, 2017 9.9% Convertible Promissory Note [Member] | |
Derivative [Line Items] | |
Summary of fair value of derivative measurement using the Monte Carlo simulation with assumptions and methodologies | December 31, 2017 Principal amount and guaranteed interest $ 140 Conversion price per share * Conversion trigger price per share None Risk free rate 1.73 % Life of conversion feature (in years) 0.78 Volatility 191 % * The conversion price per share is equal to the lesser of $4.00 or 75% of the lowest VWAP over the twenty trading days prior to the date of conversion |
RDW December 8, 2017 9.9% Convertible Promissory Note [Member] | |
Derivative [Line Items] | |
Summary of fair value of derivative measurement using the Monte Carlo simulation with assumptions and methodologies | December 31, 2017 Principal amount and guaranteed interest $ 484 Conversion price per share * Conversion trigger price per share None Risk free rate 1.76 % Life of conversion feature (in years) 0.94 Volatility 225 % * The conversion price per share is equal to the lesser of $4.00 or 65% of the lowest VWAP over the twenty trading days prior to the date of conversion |
London Bay – VL Holding Company LLC November 17, 2017 Amendment [Member] | |
Derivative [Line Items] | |
Summary of fair value of derivative measurement using the Monte Carlo simulation with assumptions and methodologies | December 31, 2017 Principal amount and guaranteed interest $ 1,426 Conversion price per share * Conversion trigger price per share None Risk free rate 1.76 % Life of conversion feature (in years) 0.77 Volatility 204 % * The conversion price per share is equal to 95% of the average of the three lowest prices during the 5 days preceding conversion |
WV VL Holding Corp November 17, 2017 Amendment [Member] | |
Derivative [Line Items] | |
Summary of fair value of derivative measurement using the Monte Carlo simulation with assumptions and methodologies | December 31, 2017 Principal amount and guaranteed interest $ 2,028 Conversion price per share * Conversion trigger price per share None Risk free rate 1.76 % Life of conversion feature (in years) 0.77 Volatility 204 % * The conversion price per share is equal to 95% of the average of the three lowest prices during the 5 days preceding conversion |
Series K, L, and M Preferred Stock Embedded Conversion Features [Member] | |
Derivative [Line Items] | |
Summary of fair value of derivative measurement using the Monte Carlo simulation with assumptions and methodologies | Series K Preferred Stock Series L Preferred Stock Series M Preferred Stock December 31, 2017 December 31, 2017 December 31, 2017 Fair value of Company's common stock $ 0.27 $ 0.27 $ 0.27 Volatility 160 % 160 % 159 % Exercise price 3.00 3.00 3.00 Estimated life 4.86 4.78 4.92 Risk free interest rate (based on 1-year treasury rate) 2.20 % 2.20 % 2.26 % |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Income Taxes [Abstract] | |
Schedule of pre-tax loss | Years Ended December 31, 2017 2016 Domestic $ (35,923 ) $ (20,678 ) Foreign (8,082 ) 85 Pre-tax Loss $ (44,005 ) $ (20,593 ) |
Summary of provision for benefit from income taxes | Years Ended December 31, 2017 2016 Federal $ - $ - State 102 81 Foreign 10 13 Total current $ 112 $ 94 Deferred: Federal $ (690 ) $ 100 State (94 ) 13 Total deferred (784 ) 113 Total provision for (benefit from) income taxes $ (672 ) $ 207 |
Summary of effective tax rate differed from the U.S. federal statutory rate | Years Ended December 31, 2017 2016 % % Federal tax benefit at statutory rate (34.0 ) (34.0 ) Permanent differences 47.6 120.4 State tax benefit, net of Federal benefits (14.6 ) (4.4 ) Other 4.1 2.2 Effect of foreign income taxed in rates other than the U.S. Federal statutory rate 1.5 0.1 Net change in valuation allowance (7.1 ) (83.4 ) Foreign tax credits - (0.1 ) Benefit (2.5 ) 0.8 |
Summary of deferred tax assets and liabilities | Years Ended December 31, 2017 2016 Net operating loss carry forwards $ 19,396 $ 6,582 Depreciation 163 151 Accruals and reserves 1,401 721 Capital loss carry forwards 74 74 Credits 3 3 Stock-based compensation 3,882 3,297 Total assets 24,919 10,828 Convertible debt (1,264 ) (1,264 ) Intangible assets (239 ) (2,116 ) Total liabilities (1,503 ) (3,380 ) Less: Valuation allowance (23,655 ) (8,450 ) Net deferred tax liabilities $ (239 ) $ (1,002 ) |
Concentrations of Credit Risk (
Concentrations of Credit Risk (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Concentrations of Credit Risk [Abstract] | |
Summary of concentrations of significant customers | 2017 Accounts Receivable Revenues Uline 4 % 17 % Ericsson, Inc 16 % 11 % AT&T Inc. 11 % 11 % |
Commitments and Contingencies (
Commitments and Contingencies (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Commitments and Contingencies [Abstract] | |
Summary of future minimum obligation | Years Ending December 31, Future Minimum Lease Payments 2018 $ 95 2019 97 2020 57 Total $ 249 |
Stock-Based Compensation (Table
Stock-Based Compensation (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Stock-Based Compensation [Abstract] | |
Schedule of RSU activity | Weighted Average Number of Grant Date Shares Fair Value Outstanding at December 31, 2015 5,058 $ 1,400.00 Granted 5,835 $ 236.00 Vested (1,681 ) $ 1,664.00 Forfeited/Cancelled (1,991 ) $ 460.00 Exercised - $ - Outstanding at December 31, 2016 7,221 $ 657.14 Granted 13,000 $ 6.91 Vested (250 ) $ 231.00 Forfeited/Cancelled (3,115 ) $ 619.21 Exercised - Outstanding at December 31, 2017 16,856 $ 169.00 |
Schedule of stock compensation expense to be recognized for vesting shares | Years Ending December 31, Future Stock Compensation Expense 2018 $ 102 2019 30 2020 1 Total $ 133 |
Summary of stock option activity | Weighted Average Shares Underlying Options Exercise Price Remaining Contractual Term Aggregate Intrinsic Value Outstanding at January 1, 2016 438 $ 1,488.00 6.29 $ 476 Granted - $ - - $ - Forfeited and expired - $ - - $ - Exercised - $ - - $ - Outstanding at December 31, 2016 438 $ 1,488.00 5.29 $ 646 Exercisable at December 31, 2016 417 $ 1,488.00 5.29 $ 615 Granted - $ - - $ - Forfeited and expired (21 ) $ 1,488.00 - $ - Exercised - $ - - $ - Outstanding at December 31, 2017 417 $ 1,488.00 4.29 $ 620 Exercisable at December 31, 2017 417 $ 1,488.00 4.29 $ 620 |
Preferred Stock (Tables)
Preferred Stock (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Stockholders' Deficit/Preferred Stock [Abstract] | |
Schedule of transactions related to temporary equity | Series K Preferred Stock Series L Preferred Stock Shares Dollar Amount Shares Dollar Amount Issuance of shares in settlement of debt obligations 1,512 $ 735 - $ - Issuance of shares in settlement of debt obligations - - 227 152 Total 1,512 $ 735 227 $ 152 |
Related Parties (Tables)
Related Parties (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Related Parties [Abstract] | |
Schedule of outstanding notes payable to related parties | December 31, 2017 2016 Promissory note issued to CamaPlan FBO Mark Munro IRA, 3% interest, matured on January 1, 2018, unsecured, net of debt discount of $38 $ - $ 658 Promissory note issued to 1112 Third Avenue Corp, 3% interest, matured on January 1, 2018, unsecured, net of debt discount of $36 - 339 Promissory note issued to Mark Munro, 3% interest, matured on January 1, 2018, unsecured, net of debt discount of $62 - 575 Promissory note issued to Pascack Road, LLC, 3% interest, matured on January 1, 2018, unsecured, net of debt discount of $152 - 2,398 Promissory notes issued to Forward Investments, LLC, between 2% and 10% interest, matured on July 1, 2016, unsecured - 4,235 Promissory notes issued to Forward Investments, LLC, 3% interest, matured on January 1, 2018, unsecured, net of debt discount of $860 - 3,513 Promissory notes issued to Forward Investments, LLC, 6.5% interest, matured on July 1, 2016, unsecured - 390 Former owner of IPC, unsecured, 8% interest, matured on May 30, 2016 - 5,755 Former owner of IPC, unsecured, 15% interest - 75 Former owner of Nottingham, unsecured, 8% interest, matured on May 30, 2016 225 Promissory note issued to Pascack Road, LLC, unsecured, due on demand 75 - 75 18,163 Less: current portion of debt (75 ) (9,531 ) Long-term portion of notes payable, related parties $ - $ 8,632 |
Schedule of future maturities related party debt | Year ending December 31, 2018 $ 75 Total principal payments $ 75 |
Segment Information (Tables)
Segment Information (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Segment Information [Abstract] | |
Schedule of segment information | Year Ended December 31, 2017 2016 Revenue by Segment Applications and infrastructure $ 12,009 $ 22,173 Professional services 22,511 36,937 Total $ 34,520 $ 59,110 Gross Profit by Segment Applications and infrastructure $ 3,411 $ 3,633 Professional services 3,617 10,475 Total $ 7,028 $ 14,108 Operating Income (Loss) by Segment Applications and infrastructure $ (1,697 ) $ (1,755 ) Professional services (7,971 ) 1,991 Corporate (6,755 ) (12,753 ) Total $ (16,423 ) $ (12,517 ) Interest Expense by Segment Applications and infrastructure $ 18 $ 21 Professional services - - Corporate 7,032 13,733 Total $ 7,050 $ 13,754 Total Assets by Segment Applications and infrastructure $ 3,807 $ 16,177 Professional services 7,244 21,334 Corporate 5,364 1,669 Assets of discontinued operations 41 15,389 Total $ 16,456 $ 54,569 Goodwill by Segment Applications and infrastructure $ - $ 6,906 Professional services - 10,081 Total $ - $ 16,987 Depreciation and Amortization Expense by Segment Applications and infrastructure $ 271 $ 789 Professional services 268 516 Corporate 20 21 Total $ 559 $ 1,326 Year Ended December 31, 2017 Domestic Foreign Total Revenues by Segment by Geographic Region Applications and infrastructure $ 11,415 $ 594 $ 12,009 Professional services 22,281 230 22,511 Total $ 33,696 $ 824 $ 34,520 Year Ended December 31, 2016 Domestic Foreign Total Revenues by Segment by Geographic Region Applications and infrastructure $ 21,254 $ 919 $ 22,173 Professional services 36,582 355 36,937 Total $ 57,836 $ 1,274 $ 59,110 Year Ended December 31, 2017 Domestic Foreign Total Gross Profit by Segment by Geographic Region Applications and infrastructure $ 3,114 $ 297 $ 3,411 Professional services 3,565 52 3,617 Total $ 6,679 $ 349 $ 7,028 Year Ended December 31, 2016 Domestic Foreign Total Gross Profit by Segment by Geographic Region Applications and infrastructure $ 3,428 $ 205 $ 3,633 Professional services 10,418 57 10,475 Total $ 13,846 $ 262 $ 14,108 Year Ended December 31, 2017 Domestic Foreign Total Operating Income (Loss) by Segment by Geographic Region Applications and infrastructure $ (1,948 ) $ 251 $ (1,697 ) Professional services (8,024 ) 53 (7,971 ) Corporate (6,755 ) - (6,755 ) Total $ (16,727 ) $ 304 $ (16,423 ) Year Ended December 31, 2016 Domestic Foreign Total Operating Income (Loss) by Segment by Geographic Region Applications and infrastructure $ (1,854 ) $ 99 $ (1,755 ) Professional services 1,944 47 1,991 Corporate (12,753 ) - (12,753 ) Total $ (12,663 ) $ 146 $ (12,517 ) |
Discontinued Operations (Tables
Discontinued Operations (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Discontinued Operations [Abstract] | |
Schedule of assets held for sale | December 31, 2017 2016 Current assets: Cash $ - $ 9 Accounts receivable, net of allowances 41 4,096 Inventory - 165 Other current assets - 467 Current assets of discontinued operations $ 41 $ 4,737 Long-term Assets: Property and equipment, net $ - $ 187 Goodwill - 6,381 Intangible assets, net - 4,068 Other assets - 16 Long-term assets of discontinued operations $ - $ 10,652 Current liabilities: Accrued trade payables $ 3,011 $ 4,447 Accrued expenses 328 1,062 Deferred revenue 1,111 Current liabilities of discontinued operations $ 3,339 $ 6,620 For the year ended 2017 2016 Revenues $ 7,409 $ 20,267 Cost of revenue 5,461 13,467 Gross profit 1,948 6,800 Operating expenses: Depreciation and amortization 512 1,226 Salaries and wages 1,574 5,049 Selling, general and administrative 1,375 2,767 Goodwill impairment charge - 1,114 Intangible asset impairment charge - 3,459 Total operating expenses 3,461 13,615 Pre-tax loss from operations (1,513 ) (6,815 ) Other income (expenses): Interest expense (6 ) (273 ) Other expense - (158 ) Gain (loss) on disposal of subsidiary (40 ) 1,574 Total other income (expense) (46 ) 1,143 Pre-tax loss on discontinued operations (1,559 ) (5,672 ) (Benefit from) provision for income taxes - - Loss on discontinued operations, net of tax $ (1,559 ) $ (5,672 ) |
Restatement of Previously Iss_2
Restatement of Previously Issued Financial Statements (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Restatement of Previously Issued Financial Statements [Abstract] | |
Schedule of previously reported consolidated statement of operations | For the year ended December 31, 2016 As Reported As Restated Basic income (loss) per share attributable to InterCloud Systems, Inc. common stockholders: Net income from continuing operations $ (19.82 ) $ (198.45 ) Net gain (loss) on discontinued operations, net of taxes $ (5.40 ) $ (54.09 ) Net income per share $ (25.23 ) $ (252.54 ) Weighted average common shares outstanding, basic and diluted 1,049,866 104,866 |
Going Concern Uncertainty, Fi_2
Going Concern Uncertainty, Financial Condition and Management's Plans (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Jan. 01, 2016 | |
Going Concern Uncertainty, Financial Condition and Management's Plans (Textual) | |||
Stockholders deficit | $ (39,203) | $ (16,043) | $ (4,200) |
Working capital deficit | 20,506 | $ 39,413 | |
Increase of working capital deficit | 18,907 | ||
Term loans | 11,898 | ||
Notes payable, related parties | $ 75 |
Summary of Significant Accoun_3
Summary of Significant Accounting Policies (Details) $ / shares in Units, $ in Thousands | May 15, 2017USD ($) | Aug. 25, 2017 | Jun. 30, 2016 | Jul. 31, 2013shares | Dec. 31, 2017USD ($)Segment$ / sharesshares | Dec. 31, 2016USD ($)$ / sharesshares | Mar. 13, 2018$ / shares | Feb. 22, 2018$ / sharesshares | Jul. 07, 2017$ / sharesshares | Apr. 03, 2017USD ($) | Dec. 31, 2015USD ($) | Dec. 17, 2015 |
Summary of Significant Accounting Policies (Textual) | ||||||||||||
Number of reportable segments | Segment | 2 | |||||||||||
Accounts receivable, allowances | $ 696 | $ 412 | ||||||||||
Goodwill impairment charges | 7,992 | |||||||||||
Intangible asset impairment | 1,522 | |||||||||||
Working capital deficit | 20,506 | 39,413 | ||||||||||
Term loans | 11,898 | |||||||||||
Cost method investment | 340 | |||||||||||
Write-off of note receivable | 507 | |||||||||||
Loss on investment in equity method investee | $ 777 | |||||||||||
Interest rate of note | 8.00% | |||||||||||
Share Price | $ / shares | $ 0.0001 | |||||||||||
Common stock value | $ 92 | $ 2 | ||||||||||
Common stock share issued | shares | 9,338,286 | 285,193 | ||||||||||
Principal and interest amount | $ 430 | $ 100 | ||||||||||
Common stock, par value | $ / shares | $ 0.0001 | $ 0.0001 | ||||||||||
Common stock, shares outstanding | shares | 9,337,948 | 282,124 | ||||||||||
Common stock equivalents, shares | shares | 80,569,943 | 166,262 | ||||||||||
Convertible preferred stock, shares | shares | 13,742,977 | |||||||||||
Outstanding debt | shares | 33,339 | 22,085 | ||||||||||
Options outstanding | shares | 417 | 438 | ||||||||||
Subsequent Events [Member] | ||||||||||||
Summary of Significant Accounting Policies (Textual) | ||||||||||||
Common stock, par value | $ / shares | $ 0.0001 | |||||||||||
Certificate of Amendment [Member] | ||||||||||||
Summary of Significant Accounting Policies (Textual) | ||||||||||||
Common stock, par value | $ / shares | $ 0.0001 | |||||||||||
Common stock, shares outstanding | shares | 0.0001 | |||||||||||
Certificate of Amendment [Member] | Subsequent Events [Member] | ||||||||||||
Summary of Significant Accounting Policies (Textual) | ||||||||||||
Common stock, par value | $ / shares | $ 0.0001 | |||||||||||
Common stock, shares outstanding | shares | 0.0001 | |||||||||||
Convertible Debt [Member] | ||||||||||||
Summary of Significant Accounting Policies (Textual) | ||||||||||||
Term loans | $ 4,058 | |||||||||||
NGNWare LLC [Member] | ||||||||||||
Summary of Significant Accounting Policies (Textual) | ||||||||||||
Equity interest percentage | 13.70% | |||||||||||
Plaintiff Alleges [Member] | ||||||||||||
Summary of Significant Accounting Policies (Textual) | ||||||||||||
Breached contractual agreements | In the complaint, the plaintiffs allege that the Company has breached contractual agreements between the Company and plaintiffs pertaining to certain indebtedness amounting to approximately $116 allegedly owed by the Company to the plaintiffs and the Company's agreement to convert such indebtedness into shares of the Company's common stock. | |||||||||||
Common stock share issued | shares | 5,426 | |||||||||||
Stock purchase agreement date | Jul. 2, 2009 | |||||||||||
Legal fees | $ 769 | |||||||||||
ADEX [Member] | Professional Services Segment [Member] | ||||||||||||
Summary of Significant Accounting Policies (Textual) | ||||||||||||
Goodwill impairment charges | $ 1,916 | |||||||||||
Intangible asset impairment | 364 | |||||||||||
SDNE [Member] | ||||||||||||
Summary of Significant Accounting Policies (Textual) | ||||||||||||
Concentration risk percentage | 90.00% | |||||||||||
Increases in assets | 9 | |||||||||||
Increases in liabilities | 92 | |||||||||||
TNS [Member] | Infrastructure Segment [Member] | ||||||||||||
Summary of Significant Accounting Policies (Textual) | ||||||||||||
Intangible asset impairment | $ 44 | |||||||||||
Sales Revenue, Goods, Net [Member] | ||||||||||||
Summary of Significant Accounting Policies (Textual) | ||||||||||||
Concentration risk percentage | 10.00% | |||||||||||
Sales Revenue, Goods, Net [Member] | PUERTO RICO | ||||||||||||
Summary of Significant Accounting Policies (Textual) | ||||||||||||
Concentration risk percentage | 2.00% | 2.00% | ||||||||||
Sales Revenue, Goods, Net [Member] | UNITED STATES | ||||||||||||
Summary of Significant Accounting Policies (Textual) | ||||||||||||
Concentration risk percentage | 98.00% | 98.00% | ||||||||||
Vehicles [Member] | ||||||||||||
Summary of Significant Accounting Policies (Textual) | ||||||||||||
Property and equipment estimated useful lives | 3 to 7 years | |||||||||||
Equipment [Member] | ||||||||||||
Summary of Significant Accounting Policies (Textual) | ||||||||||||
Property and equipment estimated useful lives | 5 to 7 years | |||||||||||
Developed software [Member] | ||||||||||||
Summary of Significant Accounting Policies (Textual) | ||||||||||||
Property and equipment estimated useful lives | 16 years | |||||||||||
Computers and office equipment [Member] | ||||||||||||
Summary of Significant Accounting Policies (Textual) | ||||||||||||
Property and equipment estimated useful lives | 3 years | |||||||||||
RM Engineering [Member] | ||||||||||||
Summary of Significant Accounting Policies (Textual) | ||||||||||||
Increase in asset due to consolidation of subsidiary | $ 675 | $ 1,025 | ||||||||||
Increase in liabilities due to consolidation of subsidiary | 260 | 213 | ||||||||||
Increase in net revenue due to consolidation of subsidiary | 2,199 | 3,080 | ||||||||||
Increase in net income (loss) due to consolidation of subsidiary | $ 397 | $ 1 | ||||||||||
Investment in affiliate description | The Company has the ability to exercise its call option to acquire the remaining 51% of RM Engineering for a nominal amount and thus makes all significant decisions related to RM Engineering even though it absorbs only 49% of the losses. Additionally, substantially all of the entity's activities either involve or are conducted on behalf of the entity by the 51% holder of RM Engineering. |
Loans Receivable (Details)
Loans Receivable (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | $ 3,617 | $ 382 |
Loans to employees, net of reserves due December 2018 [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | 4 | 37 |
Loan to third party, due December 2017 [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | 345 | |
Fair value of convertible loan receivable from Spectrum Global Solutions, Inc., due April 2018 [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | $ 3,613 |
Loans Receivable (Details 1)
Loans Receivable (Details 1) $ in Thousands | 1 Months Ended | 12 Months Ended | |
Aug. 25, 2017USD ($) | Dec. 31, 2017USD ($)$ / shares | ||
Loans and Leases Receivable Disclosure [Line Items] | |||
Principal amount and guaranteed interest | $ | $ 2,000 | ||
Monte Carlo [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Principal amount and guaranteed interest | $ | $ 2,005 | ||
Conversion price per share | $ / shares | [1] | ||
Conversion trigger price per share | $ / shares | |||
Risk free rate | 1.39 | ||
Life of conversion feature (in years) | 0.32 | ||
Volatility | 272.00% | ||
[1] | The conversion price per share is equal to 75% of the lowest VWAP during the fifteen trading days immediately prior to the conversion date. |
Loans Receivable (Details Textu
Loans Receivable (Details Textual) - USD ($) $ in Thousands | 1 Months Ended | 12 Months Ended | ||
Aug. 25, 2017 | Dec. 31, 2017 | Dec. 22, 2017 | Dec. 31, 2016 | |
Loans Receivable (Textual) | ||||
Notes bear interest rates, description | Notes bear interest at rates between 2% and 3% per annum. | |||
AWS entities subsidiaries percentage | 80.10% | |||
Principal amount | $ 2,000 | |||
Accrues interest rate percentage | 8.00% | |||
Interest income loan receivable | $ 69 | |||
Conversion price, description | This note is convertible into shares of common stock of the buyer at a conversion price per share equal to 75% of the lowest VWAP during the fifteen (15) trading days immediately prior to the conversion date. | |||
Convertible note and determined the fair value | $ 1,057 | 1,650 | ||
Note receivable | $ 105 | |||
Exchange for cash | $ 100 | |||
Monte Carlo [Member] | ||||
Loans Receivable (Textual) | ||||
Principal amount | 2,005 | |||
Convertible note and determined the fair value | 1,174 | 1,963 | ||
Fair value of loans receivable | $ 2,231 | 3,613 | ||
Loans to employees, net of reserves due December 2018 [Member] | ||||
Loans Receivable (Textual) | ||||
Loans reserve | $ 924 | $ 891 |
Acquisitions and Disposals of_3
Acquisitions and Disposals of Subsidiaries (Details) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Acquisitions And Disposals Of Subsidiaries [Abstract] | ||
Revenue | $ 29,249 | $ 31,644 |
Loss from continuing operations | (30,259) | (19,477) |
Net loss | (31,818) | (25,149) |
Net loss attributable to InterCloud Systems, Inc. common stockholders | $ (31,262) | $ (25,160) |
Loss per share attributable to InterCloud Systems, Inc. common stockholders, basic and diluted: | $ (10.26) | $ (239.93) |
Acquisitions and Disposals of_4
Acquisitions and Disposals of Subsidiaries (Details Textual) - USD ($) $ in Thousands | May 15, 2017 | Apr. 25, 2017 | Jan. 31, 2017 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 22, 2017 |
Business Acquisition [Line Items] | ||||||
Revenues | $ 34,520 | $ 59,110 | ||||
Goodwill impairment | 7,992 | |||||
Gain (loss )on disposal of subsidiaries | (13,061) | (326) | ||||
Cash | $ 100 | |||||
ADEX [Member] | ||||||
Business Acquisition [Line Items] | ||||||
Revenues | 365 | 10,993 | ||||
Sale of stock received | $ 4,000 | |||||
Additional working capital | 400 | |||||
Fair value of goodwill | $ 3,003 | |||||
Intangible asset impairment | 637 | |||||
Gain (loss )on disposal of subsidiaries | 695 | |||||
AWS Entities [Member] | ||||||
Business Acquisition [Line Items] | ||||||
Revenues | 3,235 | 11,742 | ||||
Sale of asset, percentage | 80.10% | |||||
Convertible promissory note, principal amount | $ 2,000 | |||||
Loans and leases receivable, description | (i) three times EBITDA of the AWS Entities for the six-month period immediately following the closing and (ii) $1,500. In addition, the asset purchase agreement contains a working capital adjustment. | |||||
SDNE [Member] | ||||||
Business Acquisition [Line Items] | ||||||
Revenues | 1,671 | $ 4,731 | ||||
Sale of stock received | $ 1,400 | |||||
Additional working capital | $ 61 | |||||
Intangible asset impairment | 160 | |||||
Gain (loss )on disposal of subsidiaries | 585 | |||||
Cash | 1,411 | |||||
Escrow | 50 | |||||
TNS [Member] | ||||||
Business Acquisition [Line Items] | ||||||
Intangible asset impairment | 39 | |||||
RM Engineering [Member] | ||||||
Business Acquisition [Line Items] | ||||||
Intangible asset impairment | 123 | |||||
Gain (loss )on disposal of subsidiaries | $ 5,900 |
Property and Equipment, Net (De
Property and Equipment, Net (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Components of property and equipment | ||
Total | $ 1,001 | $ 2,110 |
Less accumulated depreciation | (957) | (1,764) |
Property and equipment, net | 44 | 346 |
Vehicles [Member] | ||
Components of property and equipment | ||
Total | 646 | 748 |
Computers and Office Equipment [Member] | ||
Components of property and equipment | ||
Total | 93 | 422 |
Equipment [Member] | ||
Components of property and equipment | ||
Total | 262 | 764 |
Software [Member] | ||
Components of property and equipment | ||
Total | $ 176 |
Property and Equipment, Net (_2
Property and Equipment, Net (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Property and Equipment, Net (Textual) | ||
Depreciation expense | $ 76 | $ 187 |
Goodwill and Intangible Asset_2
Goodwill and Intangible Assets (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Summary of goodwill | ||
Beginning Balance | $ 16,987 | $ 16,163 |
Acquisitions | 1,389 | |
Disposals | (8,995) | (565) |
Impairment Charge | (7,992) | |
Ending Balance | 16,987 | |
Applications and Infrastructure [Member] | ||
Summary of goodwill | ||
Beginning Balance | 6,906 | 6,906 |
Acquisitions | 565 | |
Disposals | (4,979) | (565) |
Impairment Charge | (1,927) | |
Ending Balance | 6,906 | |
Professional Services [Member] | ||
Summary of goodwill | ||
Beginning Balance | 10,081 | 9,257 |
Acquisitions | 824 | |
Disposals | (4,016) | |
Impairment Charge | (6,065) | |
Ending Balance | $ 10,081 |
Goodwill and Intangible Asset_3
Goodwill and Intangible Assets (Details 1) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Finite-Lived Intangible Assets, Net [Abstract] | ||
Estimated Useful Life | 16 years | |
Estimated Useful Life | Indefinite | |
Beginning Net Book Value | $ 7,955 | $ 8,564 |
Additions | 643 | |
Amortization | (483) | (1,143) |
Amortization Writeoff | 2,203 | 15 |
Impairment Charge | (1,522) | |
Disposals | (5,494) | 124 |
Ending Net Book Value | 2,659 | 7,955 |
Accumulated Amortization | (6,196) | (7,916) |
Minimum [Member] | ||
Finite-Lived Intangible Assets, Net [Abstract] | ||
Beginning Net Book Value | 5,224 | |
Customer relationship and lists [Member] | ||
Finite-Lived Intangible Assets, Net [Abstract] | ||
Beginning Net Book Value | 4,521 | 5,224 |
Additions | 145 | |
Amortization | (456) | (856) |
Amortization Writeoff | 1,579 | 8 |
Impairment Charge | (69) | |
Disposals | (3,824) | |
Ending Net Book Value | 1,751 | 4,521 |
Accumulated Amortization | $ (4,972) | $ 6,095 |
Customer relationship and lists [Member] | Minimum [Member] | ||
Finite-Lived Intangible Assets, Net [Abstract] | ||
Estimated Useful Life | 7 years | 7 years |
Customer relationship and lists [Member] | Maximum [Member] | ||
Finite-Lived Intangible Assets, Net [Abstract] | ||
Estimated Useful Life | 10 years | 10 years |
Non-compete agreements [Member] | ||
Finite-Lived Intangible Assets, Net [Abstract] | ||
Beginning Net Book Value | $ 248 | $ 154 |
Additions | 498 | |
Amortization | (27) | (287) |
Amortization Writeoff | 624 | 7 |
Impairment Charge | (160) | |
Disposals | (685) | (124) |
Ending Net Book Value | 248 | |
Accumulated Amortization | $ 1,821 | |
Non-compete agreements [Member] | Minimum [Member] | ||
Finite-Lived Intangible Assets, Net [Abstract] | ||
Estimated Useful Life | 2 years | 2 years |
Non-compete agreements [Member] | Maximum [Member] | ||
Finite-Lived Intangible Assets, Net [Abstract] | ||
Estimated Useful Life | 3 years | 3 years |
URL's [Member] | ||
Finite-Lived Intangible Assets, Net [Abstract] | ||
Estimated Useful Life | Indefinite | Indefinite |
Beginning Net Book Value | $ 8 | $ 8 |
Additions | ||
Amortization | ||
Amortization Writeoff | ||
Impairment Charge | (5) | |
Disposals | (3) | |
Ending Net Book Value | 8 | |
Accumulated Amortization | ||
Trade names [Member] | ||
Finite-Lived Intangible Assets, Net [Abstract] | ||
Estimated Useful Life | Indefinite | Indefinite |
Beginning Net Book Value | $ 3,178 | $ 3,178 |
Additions | ||
Amortization | ||
Amortization Writeoff | ||
Impairment Charge | (1,288) | |
Disposals | (982) | |
Ending Net Book Value | 908 | 3,178 |
Accumulated Amortization | $ (1,224) |
Goodwill and Intangible Asset_4
Goodwill and Intangible Assets (Details 2) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 | Jan. 01, 2016 |
Summary of estimated future amortization expense | |||
2,018 | $ 420 | ||
2,019 | 420 | ||
2,020 | 420 | ||
2,021 | 369 | ||
2,022 | 122 | ||
Total | $ 2,659 | $ 7,955 | $ 8,564 |
Goodwill and Intangible Asset_5
Goodwill and Intangible Assets (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Goodwill and Intangible Assets (Textual) | |||
Intangible asset impairment | $ 1,522 | ||
Goodwill impairment charges | 7,992 | ||
Amortization expense of intangible assets | 483 | 1,140 | |
Professional services impairment loss | 5,742 | ||
Former cloud services [Member] | |||
Goodwill and Intangible Assets (Textual) | |||
Intangible asset impairment | $ 34 | ||
Goodwill impairment charges | $ 2,005 | ||
ADEX [Member] | |||
Goodwill and Intangible Assets (Textual) | |||
Intangible asset impairment | 637 | ||
Goodwill impairment charges | 2,885 | ||
SDNE [Member] | |||
Goodwill and Intangible Assets (Textual) | |||
Intangible asset impairment | 160 | ||
Goodwill impairment charges | 261 | ||
Ipc Subsidiary [Member] | |||
Goodwill and Intangible Assets (Textual) | |||
Intangible asset impairment | 3,459 | ||
Goodwill impairment charges | $ 1,114 | ||
Professional Services Segment [Member] | |||
Goodwill and Intangible Assets (Textual) | |||
Percentage of fair value excess of carrying value | 34.00% | ||
Fair value in excess of carrying amount | $ 5,742 | ||
Professional Services Segment [Member] | ADEX [Member] | |||
Goodwill and Intangible Assets (Textual) | |||
Intangible asset impairment | 486 | ||
Goodwill impairment charges | 2,919 | ||
Infrastructure Segment [Member] | |||
Goodwill and Intangible Assets (Textual) | |||
Percentage of fair value excess of carrying value | 20.00% | ||
Fair value in excess of carrying amount | $ 2,549 | ||
Infrastructure Segment [Member] | TNS [Member] | |||
Goodwill and Intangible Assets (Textual) | |||
Intangible asset impairment | $ 44 | ||
Managed Services Segment [Member] | |||
Goodwill and Intangible Assets (Textual) | |||
Percentage of fair value excess of carrying value | 28.00% | ||
Fair value in excess of carrying amount | $ 1,515 |
Accrued Expenses (Details)
Accrued Expenses (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Summary of accrued expenses | ||
Accrued interest | $ 2,639 | $ 7,170 |
Accrued expenses | 2,602 | 1,774 |
Accrued compensation | 2,767 | 716 |
Total accrued expenses | $ 8,008 | $ 9,660 |
Fair Value Measurements (Detail
Fair Value Measurements (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Liabilities: | ||
Long-term warrant derivatives | $ 16,651 | $ 1,316 |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Fair Value, Measurements, Recurring [Member] | ||
Liabilities: | ||
Current derivative features related to convertible debentures | ||
Current derivative features related to warrant derivatives | ||
Long-term derivative features related to convertible debentures | ||
Long-term derivative features related to preferred stock | ||
Total liabilities at fair value | ||
Significant Other Observable Inputs (Level 2) [Member] | Fair Value, Measurements, Recurring [Member] | ||
Liabilities: | ||
Current derivative features related to convertible debentures | ||
Current derivative features related to warrant derivatives | ||
Long-term derivative features related to convertible debentures | ||
Long-term derivative features related to preferred stock | ||
Total liabilities at fair value | ||
Significant Unobservable Inputs (Level 3) [Member] | Fair Value, Measurements, Recurring [Member] | ||
Liabilities: | ||
Current derivative features related to convertible debentures | 3,145 | 1,749 |
Current derivative features related to warrant derivatives | 234 | |
Long-term derivative features related to convertible debentures | 661 | 1,316 |
Long-term derivative features related to preferred stock | 15,990 | |
Fair value of Series M preferred stock | 3,021 | |
Contingent consideration | 515 | |
Total liabilities at fair value | $ 23,051 | $ 3,580 |
Fair Value Measurements (Deta_2
Fair Value Measurements (Details 1) - Level 3 financial instruments [Member] - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Summary of changes in fair value of our Level 3 financial instruments | ||
Beginning Balance | $ 3,580 | $ 17,538 |
Change in fair value of derivative features related to convertible debentures | (4,555) | (19,660) |
Change in fair value of warrant derivative | 952 | 130 |
Reclassification of equity warrants to derivative | 110 | |
Fair value of JGB warrant derivative | 65 | |
Adjustment of derivative liability upon extinguishment of debt | 2,241 | 4,778 |
Fair value of contingent consideration | 515 | |
Fair value of derivative features related to JGB (Cayman) Concord Ltd. term loan | 1,350 | |
Fair value of make whole provision | 280 | |
Adjustment of derivative liability upon conversion of debt | (41) | |
Adjustment of derivative liability upon modification of debt | (1,552) | |
Fair value of derivative features related to Dominion term loan | 38 | 242 |
Adjustment of make-whole provision upon payment | (815) | |
Fair value of derivative features related to MEF I, L.P. | 250 | |
Fair value of derivative features related to RDW term loan | 39 | |
Cancellation of 8760 warrants | (2) | |
Settlement of contingent consideration | 515 | |
Reclassification of derivative warrants to equity | (45) | |
Adjustment upon exercise of JGB derivative warrant | (1,000) | |
Fair value of derivative features related to RDW term loan (July) | 126 | |
Fair value of derivative features related to RDW term loan (Sept) | 122 | |
Fair value of derivative features related to extinguishment RDW term loan (Hannibal ext) | 911 | |
Fair value of derivative features related to RDW term loan (Jadevaia) | 374 | |
Fair value of derivative features related to RDW term loan (London Bay exchange) | 282 | |
Fair value of derivative features related to London Bay term loan | 600 | |
Fair value of derivative features related to Westview term loan | 282 | |
Fair value of derivative features related to Series K preferred stock | 15,748 | |
Fair value of derivative features related to Series L preferred stock | 1,664 | |
Change in fair value of preferred stock derivatives | (1,422) | |
Fair value of Series M preferred stock | 3,015 | |
Change in fair value of Series M preferred stock | 6 | |
Adjustment of derivative liability upon conversion of debt | (416) | |
Ending Balance | $ 23,051 | $ 3,580 |
Fair Value Measurements (Deta_3
Fair Value Measurements (Details Textual) - USD ($) | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Fair Value Measurements [Abstract] | ||
Debt fair value estimated | $ 13,044 | $ 43,729,000 |
Number of warrants cancelled | 8,760 |
Bank Debt (Details)
Bank Debt (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Components of bank debt | ||
Bank debt | $ 2 | $ 2 |
Less: Current portion of bank debt | 114 | 121 |
Long-term portion term loans, net of debt discount | 1,058 | 1,860 |
Two lines of credit, monthly principal and interest, ranging from $0 to $1, average interest of 14.2%, guaranteed personally by principal shareholders of acquired companies, maturing July 2018 [Member] | ||
Components of bank debt | ||
Bank debt | 103 | 121 |
Equipment finance agreement, monthly principal of $1, maturing February 2020 [Member] | ||
Components of bank debt | ||
Bank debt | $ 11 |
Bank Debt (Details Textual)
Bank Debt (Details Textual) $ in Thousands | 12 Months Ended | |
Dec. 31, 2017USD ($)Number | Dec. 31, 2016USD ($) | |
Bank Debt (Textual) | ||
Number of lines of credit | Number | 2 | |
Weighted average interest rate on bank debt | 14.20% | 8.40% |
Interest expense associated with bank debt | $ 16 | $ 10 |
Two lines of credit, monthly principal and interest, ranging from $0 to $1, average interest of 14.2%, guaranteed personally by principal shareholders of acquired companies, maturing July 2018 [Member] | ||
Bank Debt (Textual) | ||
Interest rate | 14.20% | |
Maturity period of debt | July 2,018 | |
Two lines of credit, monthly principal and interest, ranging from $0 to $1, average interest of 14.2%, guaranteed personally by principal shareholders of acquired companies, maturing July 2018 [Member] | Minimum [Member] | ||
Bank Debt (Textual) | ||
Notes payable monthly principle and interest | $ 0 | |
Two lines of credit, monthly principal and interest, ranging from $0 to $1, average interest of 14.2%, guaranteed personally by principal shareholders of acquired companies, maturing July 2018 [Member] | Maximum [Member] | ||
Bank Debt (Textual) | ||
Notes payable monthly principle and interest | 1 | |
Equipment finance agreement, monthly principal of $1, maturing February 2020 [Member] | ||
Bank Debt (Textual) | ||
Notes payable monthly principle and interest | $ 1 | |
Maturity period of debt | February 2,020 |
Term Loans (Details)
Term Loans (Details) - USD ($) | Dec. 31, 2017 | Dec. 31, 2016 |
Long-Term Debt, By Current and Noncurrent [Abstract] | ||
Net payments | $ 12,071,000 | $ 2,000 |
Less: Current portion of bank debt | (114,000) | (121,000) |
Long-term portion term loans, net of debt discount | 1,058,000 | 1,860,000 |
Former owners of RM Leasing, unsecured, non-interest bearing, due on demand [Member] | ||
Long-Term Debt, By Current and Noncurrent [Abstract] | ||
Net payments | 2,000 | 2,000 |
Promissory note with company under common ownership by former owner of Tropical, 9.75% interest, monthly payments of interest only of $1, unsecured and personally guaranteed by officer, matured in November 2016 [Member] | ||
Long-Term Debt, By Current and Noncurrent [Abstract] | ||
Net payments | 106,000 | |
London Bay - VL Holding Company, LLC convertible promissory note, unsecured, 0% and 8.8% interest, respectively, maturing in October 2018 [Member] | ||
Long-Term Debt, By Current and Noncurrent [Abstract] | ||
Net payments | 1,403 | 7,408,000 |
WV VL Holding Corp convertible promissory note, unsecured, 0% and 8.8% interest, respectively, maturing in October 2018 [Member] | ||
Long-Term Debt, By Current and Noncurrent [Abstract] | ||
Net payments | 2,005 | 7,003,000 |
8% convertible promissory note, Tim Hannibal, unsecured, maturing October 2017 [Member] | ||
Long-Term Debt, By Current and Noncurrent [Abstract] | ||
Net payments | 1,215,000 | |
12% senior convertible note, unsecured, Dominion Capital, matured in January 2017, net of debt discount of $29 [Member] | ||
Long-Term Debt, By Current and Noncurrent [Abstract] | ||
Net payments | 1,170,000 | |
12% convertible note, Richard Smithline, unsecured, matured in January 2017, net of debt discount of $0 and $2, respectively [Member] | ||
Long-Term Debt, By Current and Noncurrent [Abstract] | ||
Net payments | 360,000 | |
Senior secured convertible debenture, JGB (Cayman) Waltham Ltd., bearing interest of 4.67%, maturing in May 2019, net of debt discount of $0 and $3,136, respectively [Member] | ||
Long-Term Debt, By Current and Noncurrent [Abstract] | ||
Net payments | 3,091,000 | 1,900,000 |
Senior secured convertible note, JGB (Cayman) Concord Ltd., bearing interest at 4.67%, maturing in May 2019, net of debt discount of $0 and $1,668, respectively [Member] | ||
Long-Term Debt, By Current and Noncurrent [Abstract] | ||
Net payments | 11,000 | 2,080,000 |
Senior secured note, JGB (Cayman) Waltham Ltd., bearing interest at 4.67%, maturing in May 2019, net of debt discount of $0 and $234, respectively [Member] | ||
Long-Term Debt, By Current and Noncurrent [Abstract] | ||
Net payments | 294,000 | 358,000 |
6% senior convertible term promissory note, unsecured, Dominion Capital. maturing January 31, 2018, net of debt discount of $1 [Member] | ||
Long-Term Debt, By Current and Noncurrent [Abstract] | ||
Net payments | 69,000 | |
12% senior convertible note, unsecured, Dominion Capital, maturing in November 2017, net of debt discount of $0 and $65, respectively [Member] | ||
Long-Term Debt, By Current and Noncurrent [Abstract] | ||
Net payments | 75,000 | 475,000 |
Receivables Purchase Agreement with Dominion Capital, net of debt discount of $44 [Member] | ||
Long-Term Debt, By Current and Noncurrent [Abstract] | ||
Net payments | 430,000 | |
Promissory note issued to Trinity Hall, 3% interest, unsecured, maturing in January 2018 [Member] | ||
Long-Term Debt, By Current and Noncurrent [Abstract] | ||
Net payments | 500,000 | 500,000 |
9.9% convertible promissory note, RDW Capital LLC. July 14, 2017 Note, maturing on July 14, 2018, net of debt discount of $74 [Member] | ||
Long-Term Debt, By Current and Noncurrent [Abstract] | ||
Net payments | 81,000 | |
9.9% convertible promissory note, RDW Capital LLC. September 27, 2017 Note, maturing on September 27, 2018, net of debt discount of $91 [Member] | ||
Long-Term Debt, By Current and Noncurrent [Abstract] | ||
Net payments | 64,000 | |
9.9% convertible promissory note, RDW Capital LLC. October 12, 2017 Note, maturing on October 12, 2018 [Member] | ||
Long-Term Debt, By Current and Noncurrent [Abstract] | ||
Net payments | 480 | |
9.9% convertible promissory note, RDW Capital LLC. December 8, 2017 Note, maturing on December 8, 2018, [Member] | ||
Long-Term Debt, By Current and Noncurrent [Abstract] | ||
Net payments | 133 | |
Promissory notes issued to Forward Investments, LLC, between 2% and 10% interest, matured on July 1, 2016, unsecured [Member] | ||
Long-Term Debt, By Current and Noncurrent [Abstract] | ||
Net payments | 1,421,000 | |
Promissory notes issued to Forward Investments, LLC, 3% interest, maturing on January 1, 2018, unsecured [Member] | ||
Long-Term Debt, By Current and Noncurrent [Abstract] | ||
Net payments | 1,752,000 | |
Promissory notes issued to Forward Investments, LLC, 6.5% interest, matured on July 1, 2016, unsecured [Member] | ||
Long-Term Debt, By Current and Noncurrent [Abstract] | ||
Net payments | 390,000 | |
Promissory notes issued to Forward Investments, LLC, 6.5% interest, matured on July 1, 2016, unsecured [Member] | ||
Long-Term Debt, By Current and Noncurrent [Abstract] | ||
Net payments | $ 300,000 |
Term Loans (Details 1)
Term Loans (Details 1) - Term Loans [Member] $ in Thousands | Dec. 31, 2015USD ($) |
Schedule of future maturities of debt | |
2,018 | $ 11,179 |
2,019 | 1,058 |
Total principal payments | $ 12,237 |
Term Loans (Details 2)
Term Loans (Details 2) - Term Loans [Member] $ in Thousands | Dec. 31, 2016USD ($) |
Debt Instrument [Line Items] | |
2,018 | $ 166 |
Thereafter | |
Total debt discount amortization | $ 166 |
Term Loans (Parenthetical) (Det
Term Loans (Parenthetical) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Apr. 03, 2017 | |
Debt Instrument [Line Items] | |||
Common ownership percentage | 9.75% | ||
Interest | $ 7,050 | $ 13,754 | |
Maturity date | Oct. 31, 2017 | ||
Debt discount | 2,897 | $ 6,903 | |
Promissory note interest rate | 8.00% | 75.00% | |
Promissory note with company under common ownership by former owner of Tropical, 9.75% interest, monthly payments of interest only of $1, unsecured and personally guaranteed by officer, matured in November 2016 [Member] | |||
Debt Instrument [Line Items] | |||
Interest | $ 1 | ||
Maturity date | Nov. 30, 2016 | ||
Promissory note interest rate | 9.75% | ||
London Bay - VL Holding Company, LLC convertible promissory note, unsecured, 0% and 8.8% interest, respectively, maturing in October 2018 [Member] | |||
Debt Instrument [Line Items] | |||
Maturity date | Oct. 31, 2018 | ||
Promissory note interest rate | 0.00% | 8.80% | |
WV VL Holding Corp convertible promissory note, unsecured, 0% and 8.8% interest, respectively, maturing in October 2018 [Member] | |||
Debt Instrument [Line Items] | |||
Maturity date | Oct. 31, 2018 | ||
Promissory note interest rate | 0.00% | 8.80% | |
8% convertible promissory note, Tim Hannibal, unsecured, maturing October 2017 [Member] | |||
Debt Instrument [Line Items] | |||
Maturity date | Oct. 31, 2017 | ||
Promissory note interest rate | 8.00% | ||
12% senior convertible note, unsecured, Dominion Capital, matured in January 2017, net of debt discount of $29 [Member] | |||
Debt Instrument [Line Items] | |||
Maturity date | Jan. 31, 2017 | ||
Debt discount | $ 29 | ||
Promissory note interest rate | 12.00% | ||
12% convertible note, Richard Smithline, unsecured, matured in January 2017, net of debt discount of $0 and $2, respectively [Member] | |||
Debt Instrument [Line Items] | |||
Maturity date | Jan. 31, 2017 | Jan. 31, 2017 | |
Debt discount | $ 0 | $ 2 | |
Promissory note interest rate | 12.00% | 12.00% | |
Senior secured convertible debenture, JGB (Cayman) Waltham Ltd., bearing interest of 4.67%, maturing in May 2019, net of debt discount of $0 and $3,136, respectively [Member] | |||
Debt Instrument [Line Items] | |||
Maturity date | May 31, 2019 | May 31, 2019 | |
Debt discount | $ 0 | $ 3,136 | |
Promissory note interest rate | 4.67% | 4.67% | |
Senior secured convertible note, JGB (Cayman) Concord Ltd., bearing interest at 4.67%, maturing in May 2019, net of debt discount of $0 and $1,668, respectively [Member] | |||
Debt Instrument [Line Items] | |||
Maturity date | May 31, 2018 | May 31, 2019 | |
Debt discount | $ 0 | $ 1,668 | |
Promissory note interest rate | 4.67% | 4.67% | |
Senior secured note, JGB (Cayman) Waltham Ltd., bearing interest at 4.67%, maturing in May 2019, net of debt discount of $0 and $234, respectively [Member] | |||
Debt Instrument [Line Items] | |||
Maturity date | May 31, 2018 | May 31, 2018 | |
Debt discount | $ 0 | $ 234 | |
Promissory note interest rate | 4.67% | 4.67% | |
6% senior convertible term promissory note, unsecured, Dominion Capital. maturing January 31, 2018, net of debt discount of $1 [Member] | |||
Debt Instrument [Line Items] | |||
Maturity date | Jan. 31, 2018 | ||
Debt discount | $ 1 | ||
Promissory note interest rate | 6.00% | ||
12% senior convertible note, unsecured, Dominion Capital, maturing in November 2017, net of debt discount of $0 and $65, respectively [Member] | |||
Debt Instrument [Line Items] | |||
Maturity date | Nov. 27, 2017 | Nov. 27, 2017 | |
Debt discount | $ 65 | $ 0 | |
Promissory note interest rate | 12.00% | 12.00% | |
Receivables Purchase Agreement with Dominion Capital, net of debt discount of $44 [Member] | |||
Debt Instrument [Line Items] | |||
Debt discount | $ 44 | ||
Promissory note issued to Trinity Hall, 3% interest, unsecured, maturing in January 2018 [Member] | |||
Debt Instrument [Line Items] | |||
Maturity date | Jan. 31, 2018 | ||
Promissory note interest rate | 3.00% | ||
9.9% convertible promissory note, RDW Capital LLC. July 14, 2017 Note, maturing on July 14, 2018, net of debt discount of $74 [Member] | |||
Debt Instrument [Line Items] | |||
Maturity date | Jul. 14, 2018 | ||
Debt discount | $ 74 | ||
Promissory note interest rate | 9.90% | ||
9.9% convertible promissory note, RDW Capital LLC. September 27, 2017 Note, maturing on September 27, 2018, net of debt discount of $91 [Member] | |||
Debt Instrument [Line Items] | |||
Maturity date | Sep. 27, 2018 | ||
Debt discount | $ 91 | ||
Promissory note interest rate | 9.90% | ||
9.9% convertible promissory note, RDW Capital LLC. October 12, 2017 Note, maturing on October 12, 2018 [Member] | |||
Debt Instrument [Line Items] | |||
Debt discount | $ 246 | ||
9.9% convertible promissory note, RDW Capital LLC. December 8, 2017 Note, maturing on December 8, 2018, [Member] | |||
Debt Instrument [Line Items] | |||
Debt discount | $ 537 | ||
Promissory notes issued to Forward Investments, LLC, between 2% and 10% interest, matured on July 1, 2016, unsecured [Member] | |||
Debt Instrument [Line Items] | |||
Maturity date | Jul. 1, 2016 | ||
Promissory notes issued to Forward Investments, LLC, 3% interest, maturing on January 1, 2018, unsecured [Member] | |||
Debt Instrument [Line Items] | |||
Maturity date | Jan. 1, 2018 | ||
Promissory note interest rate | 3.00% | ||
Promissory notes issued to Forward Investments, LLC, 6.5% interest, matured on July 1, 2016, unsecured [Member] | |||
Debt Instrument [Line Items] | |||
Maturity date | Jul. 1, 2016 | ||
Promissory note interest rate | 6.50% |
Term Loans (Details Textual)
Term Loans (Details Textual) - USD ($) $ / shares in Units, $ in Thousands | Oct. 09, 2014 | Jul. 03, 2014 | Dec. 31, 2017 | Dec. 31, 2016 | Apr. 03, 2017 | Dec. 31, 2015 |
Term Loan (Textual) | ||||||
Loans payable | $ 6,365 | $ 10,812 | ||||
Maturity date of debt | Oct. 31, 2017 | |||||
Principal amount of debt outstanding | $ 11,304 | |||||
Gain (loss) on extinguishment of debt, net | $ (8,857) | $ (9,587) | ||||
Original principal amount of debt instrument | 430 | $ 100 | ||||
Vault Logix Llc [Member] | ||||||
Term Loan (Textual) | ||||||
Line of credit, Interest | 12.00% | |||||
Interest rate, Description | (i) The LIBOR Index Rate (as defined), as adjusted as of each Libor Index Adjustment Date (as defined) and (ii) 1.00% per annum; plus (b) 1100 basis points per annum. The LIBOR Index Rate was 1.0896 as of December 31, 2015; however, this did not exceed the 12% stated rate as defined in item (ii) above. | |||||
Gain (loss) on extinguishment of debt, net | $ 843 | |||||
Original principal amount of debt instrument | $ 13,261 | |||||
Term Loans [Member] | ||||||
Term Loan (Textual) | ||||||
Maturity date of debt | Feb. 28, 2019 | |||||
8% Convertible Promissory Notes [Member] | Vault Logix Llc [Member] | ||||||
Term Loan (Textual) | ||||||
Maturity date of debt | Oct. 9, 2017 | |||||
Aggregate purchase price of acquisition | $ 36,796 | |||||
Purchase price cash consideration | $ 16,385 | |||||
Common shares issued for acquisition | 253 | |||||
Unsecured convertible promissory notes | $ 15,626 | |||||
Initial conversion price | $ 6.37 | |||||
Revolving Credit Facility [Member] | Promissory Notes to the Mark Munro 1996 Charitable Remainder UniTrust [Member] | ||||||
Term Loan (Textual) | ||||||
Outstanding amount under the related party revolving line of credit | $ 3,000 | |||||
Line of credit, Interest | 1.50% | |||||
Maturity date of debt | Mar. 31, 2016 |
Term Loans (Details Textual 1)
Term Loans (Details Textual 1) - USD ($) $ / shares in Units, $ in Thousands | Mar. 09, 2017 | Sep. 01, 2016 | Mar. 02, 2016 | Feb. 03, 2016 | Dec. 11, 2015 | Nov. 13, 2015 | Nov. 12, 2015 | Aug. 06, 2015 | May 31, 2015 | May 15, 2015 | May 15, 2015 | May 14, 2015 | Mar. 02, 2015 | Oct. 09, 2014 | Mar. 12, 2014 | Nov. 05, 2013 | Feb. 28, 2017 | Jan. 31, 2017 | Dec. 31, 2016 | Jun. 23, 2016 | May 23, 2016 | May 17, 2016 | Feb. 29, 2016 | Feb. 18, 2016 | Jan. 31, 2016 | Dec. 29, 2015 | Nov. 30, 2015 | Nov. 27, 2015 | Jun. 30, 2015 | May 30, 2015 | Dec. 03, 2014 | Apr. 15, 2014 | Aug. 31, 2013 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | Jul. 18, 2017 | Apr. 03, 2017 | Aug. 06, 2016 | Jul. 20, 2016 | Mar. 31, 2016 | Feb. 17, 2016 | Jul. 31, 2012 | Sep. 30, 2011 |
Term Loan (Textual) | |||||||||||||||||||||||||||||||||||||||||||||
Maturity date of debt | Oct. 31, 2017 | ||||||||||||||||||||||||||||||||||||||||||||
Principal and interest amount | $ 430 | $ 430 | $ 100 | ||||||||||||||||||||||||||||||||||||||||||
Derivative Liabilities | $ 39 | $ 0 | 39 | ||||||||||||||||||||||||||||||||||||||||||
Principal amount of debt outstanding | $ 11,304 | ||||||||||||||||||||||||||||||||||||||||||||
Issuance of shares pursuant to convertible debentures, shares | 133,334 | ||||||||||||||||||||||||||||||||||||||||||||
Debt discount | $ 2,897 | $ 6,903 | |||||||||||||||||||||||||||||||||||||||||||
Note converted into common stock | 13,742,977 | ||||||||||||||||||||||||||||||||||||||||||||
Debt Instrument description of maturity date | A term of one year | On May 7, 2014, the Company issued a promissory note to the Mark Munro 1996 Charitable Remainder UniTrust in the principal amount of $300 that bears interest at the rate of 18% per annum and matures on March 31, 2016. | |||||||||||||||||||||||||||||||||||||||||||
Loss on conversion of debt | $ 25 | $ 30 | $ 25 | ||||||||||||||||||||||||||||||||||||||||||
Fair value of price per share | $ 0.0001 | $ 0.0001 | |||||||||||||||||||||||||||||||||||||||||||
Gain (loss) on extinguishment of debt, net | $ (8,857) | $ (9,587) | |||||||||||||||||||||||||||||||||||||||||||
Debt conversion original debt interest rate of debt | 8.00% | 8.00% | |||||||||||||||||||||||||||||||||||||||||||
Paid interest | 232 | 3,012 | |||||||||||||||||||||||||||||||||||||||||||
Conversion to common stock | $ 16,147 | $ 7,216 | |||||||||||||||||||||||||||||||||||||||||||
Debt Instrument Tranche One [Member] | |||||||||||||||||||||||||||||||||||||||||||||
Term Loan (Textual) | |||||||||||||||||||||||||||||||||||||||||||||
Principal amount of debt outstanding | $ 83 | ||||||||||||||||||||||||||||||||||||||||||||
Note converted into common stock | 167 | 334 | 334 | 167 | |||||||||||||||||||||||||||||||||||||||||
Conversion to common stock | $ 167 | $ 167 | $ 83 | ||||||||||||||||||||||||||||||||||||||||||
Debt Instrument Tranche Two [Member] | |||||||||||||||||||||||||||||||||||||||||||||
Term Loan (Textual) | |||||||||||||||||||||||||||||||||||||||||||||
Note converted into common stock | 334 | 334 | 334 | ||||||||||||||||||||||||||||||||||||||||||
Conversion to common stock | $ 167 | $ 167 | $ 166 | ||||||||||||||||||||||||||||||||||||||||||
Debt Instrument Tranche Three [Member] | |||||||||||||||||||||||||||||||||||||||||||||
Term Loan (Textual) | |||||||||||||||||||||||||||||||||||||||||||||
Principal amount of debt outstanding | $ 83 | ||||||||||||||||||||||||||||||||||||||||||||
Note converted into common stock | 167 | 334 | 501 | ||||||||||||||||||||||||||||||||||||||||||
Conversion to common stock | $ 167 | $ 250 | |||||||||||||||||||||||||||||||||||||||||||
Secured Debt [Member] | |||||||||||||||||||||||||||||||||||||||||||||
Term Loan (Textual) | |||||||||||||||||||||||||||||||||||||||||||||
Principal and interest amount | $ 500 | ||||||||||||||||||||||||||||||||||||||||||||
Exchange Agreement [Member] | |||||||||||||||||||||||||||||||||||||||||||||
Term Loan (Textual) | |||||||||||||||||||||||||||||||||||||||||||||
Initial conversion price | $ 10.50 | ||||||||||||||||||||||||||||||||||||||||||||
Maturity date of debt | Nov. 30, 2017 | ||||||||||||||||||||||||||||||||||||||||||||
Principal amount of debt outstanding | $ 12,025 | ||||||||||||||||||||||||||||||||||||||||||||
Note converted into common stock | 1,180,361 | ||||||||||||||||||||||||||||||||||||||||||||
Term of warrants | 3 years | ||||||||||||||||||||||||||||||||||||||||||||
Exercise price of warrants | $ 7.25 | ||||||||||||||||||||||||||||||||||||||||||||
Securities Investment [Member] | |||||||||||||||||||||||||||||||||||||||||||||
Term Loan (Textual) | |||||||||||||||||||||||||||||||||||||||||||||
Interest rate | 12.00% | ||||||||||||||||||||||||||||||||||||||||||||
Cash | $ 500 | ||||||||||||||||||||||||||||||||||||||||||||
Initial conversion price | $ 700 | ||||||||||||||||||||||||||||||||||||||||||||
Principal and interest amount | $ 525 | $ 2,300 | $ 2,300 | ||||||||||||||||||||||||||||||||||||||||||
Upon conversion, the beneficial conversion feature | 139 | ||||||||||||||||||||||||||||||||||||||||||||
Debt Instrument description of maturity date | (i) cash, in which case the Company would also have to issue to the investor a number of shares of the Company's common stock equal to 5% of such amortization payment or (ii) subject to the Company satisfying certain equity conditions, shares of the Company's common stock, pursuant to the amortization conversion rate, which was equal to the lower of (x) $700.00 and (y) a 25% discount to lowest volume weighted average price of the Company's common stock in the prior three trading days. | ||||||||||||||||||||||||||||||||||||||||||||
Loss on conversion of debt | 197 | ||||||||||||||||||||||||||||||||||||||||||||
Extinguishment of debt | 2,300 | ||||||||||||||||||||||||||||||||||||||||||||
Reduced accrued interest | 199 | ||||||||||||||||||||||||||||||||||||||||||||
Legal fees | 25 | ||||||||||||||||||||||||||||||||||||||||||||
Paid interest | 419 | ||||||||||||||||||||||||||||||||||||||||||||
Conversion to common stock | 590 | ||||||||||||||||||||||||||||||||||||||||||||
12% Convertible Debentures [Member] | |||||||||||||||||||||||||||||||||||||||||||||
Term Loan (Textual) | |||||||||||||||||||||||||||||||||||||||||||||
Principal and interest amount | $ 1,215 | ||||||||||||||||||||||||||||||||||||||||||||
Purchase agreement with ICG [Member] | |||||||||||||||||||||||||||||||||||||||||||||
Term Loan (Textual) | |||||||||||||||||||||||||||||||||||||||||||||
Debt instrument maturity term | Note matured on the thirtieth trading day following the earlier of the closing of any capital raise by the Company of at least $3,000 or October 26, 2013. | ||||||||||||||||||||||||||||||||||||||||||||
Capital raise | $ 3,000 | ||||||||||||||||||||||||||||||||||||||||||||
Bridge Financing Agreement [Member] | |||||||||||||||||||||||||||||||||||||||||||||
Term Loan (Textual) | |||||||||||||||||||||||||||||||||||||||||||||
Interest rate | 12.00% | ||||||||||||||||||||||||||||||||||||||||||||
Principal and interest amount | $ 6,000 | $ 6,000 | |||||||||||||||||||||||||||||||||||||||||||
Fair value of price per share | $ 256 | ||||||||||||||||||||||||||||||||||||||||||||
Gain (loss) on extinguishment of debt, net | 847 | ||||||||||||||||||||||||||||||||||||||||||||
Term of warrants | 180 days | ||||||||||||||||||||||||||||||||||||||||||||
Exercise price of warrants | $ 5 | ||||||||||||||||||||||||||||||||||||||||||||
Extinguishment of debt | $ 6,020 | ||||||||||||||||||||||||||||||||||||||||||||
Common stock shares issued under execise of warrants | 250,000 | 150,000 | |||||||||||||||||||||||||||||||||||||||||||
Vault Logix Llc [Member] | |||||||||||||||||||||||||||||||||||||||||||||
Term Loan (Textual) | |||||||||||||||||||||||||||||||||||||||||||||
Principal and interest amount | $ 13,261 | ||||||||||||||||||||||||||||||||||||||||||||
Gain (loss) on extinguishment of debt, net | 843 | ||||||||||||||||||||||||||||||||||||||||||||
GPB Life Science Holdings, LLC [Member] | |||||||||||||||||||||||||||||||||||||||||||||
Term Loan (Textual) | |||||||||||||||||||||||||||||||||||||||||||||
Interest rate | 4.00% | ||||||||||||||||||||||||||||||||||||||||||||
Description of debt conversion | (i) the Company used $2,300 of the JGB (Cayman) Waltham Ltd. senior secured convertible debentures (as described later within this footnote) to reduce the total amount owed by the Company to GPB Life Science Holdings, LLC to $1,500, (ii) if the closing price per share of the Company's common stock 90 days after December 29, 2015 is less than the remaining balance conversion price, as adjusted, then the Company shall issue to GPB Life Science Holdings, LLC additional unregistered shares of the Company's common stock in an aggregate amount equal to the amount set forth in the conversion agreement, (iii) GPB Life Science Holdings, LLC and the Company will convert the remaining balance of $1,500 into shares of the Company's common stock at a conversion price per share equal to 75% multiplied by the lower of (x) the average volume weighted average price per share of the Company's common stock for the five prior trading days and (y) the one day volume weighted price for a share of the Company's common stock on December 29, 2015, (iv) GPB Life Science Holdings, LLC will reduce the exercise price of those certain outstanding warrants originally issued by the Company on May 14, 2015 to $1.75, and (v) GPB Life Science Holdings, LLC will release all of its remaining security interest in the Company. | ||||||||||||||||||||||||||||||||||||||||||||
Proceeds from senior secured convertible debenture | 2,300 | ||||||||||||||||||||||||||||||||||||||||||||
GPB Life Science Holdings, LLC [Member] | Exchange Agreement [Member] | |||||||||||||||||||||||||||||||||||||||||||||
Term Loan (Textual) | |||||||||||||||||||||||||||||||||||||||||||||
Interest rate | 12.00% | ||||||||||||||||||||||||||||||||||||||||||||
Initial conversion price | $ 500 | ||||||||||||||||||||||||||||||||||||||||||||
Principal and interest amount | $ 500 | ||||||||||||||||||||||||||||||||||||||||||||
Debt Instrument description of maturity date | (i) cash, in which case the Company would also have to issue to the investor a number of shares of the Company's common stock equal to 5% of such redemption payment or (ii) subject to the Company satisfying certain equity conditions, shares of the Company's common stock, pursuant to the redemption conversion rate, which was equal to the lower of (x) $500.00 and (y) a 25% discount to lowest volume weighted average price of the Company's common stock in the prior three trading days. | ||||||||||||||||||||||||||||||||||||||||||||
Principal amount of convertible notes | $ 1,500 | ||||||||||||||||||||||||||||||||||||||||||||
GPB Life Science Holdings, LLC [Member] | Bridge Financing Agreement [Member] | |||||||||||||||||||||||||||||||||||||||||||||
Term Loan (Textual) | |||||||||||||||||||||||||||||||||||||||||||||
Common shares issued for acquisition | 1,600,000 | ||||||||||||||||||||||||||||||||||||||||||||
Placement agent fee | $ 209 | ||||||||||||||||||||||||||||||||||||||||||||
Gain (loss) on extinguishment of debt, net | $ 74 | ||||||||||||||||||||||||||||||||||||||||||||
Warrants to purchase common stock | 250,000 | ||||||||||||||||||||||||||||||||||||||||||||
Shares of comon stock settlement | 500,000 | ||||||||||||||||||||||||||||||||||||||||||||
JGB (Cayman) Waltham Ltd. [Member] | |||||||||||||||||||||||||||||||||||||||||||||
Term Loan (Textual) | |||||||||||||||||||||||||||||||||||||||||||||
Aggregate purchase price | $ 3,529 | ||||||||||||||||||||||||||||||||||||||||||||
Interest rate | 0.67% | 10.00% | 0.67% | ||||||||||||||||||||||||||||||||||||||||||
Debt conversion price description | The Company shall pay JGB Waltham an additional amount equal to 7.5% of the outstanding principal amount on the Amended and Restated Debenture on each of May 31, 2018 and May 31, 2019, subject to certain exceptions set forth in the Amended and Restated Debenture. | ||||||||||||||||||||||||||||||||||||||||||||
Initial conversion price | $ 532 | $ 320 | |||||||||||||||||||||||||||||||||||||||||||
Agreement, description | On March 9, 2017, JGB Waltham, the Company, and a third-party investor effectuated a two-part exchange with respect to a portion of the Amended and Restated Debenture in which JGB Waltham assigned a portion of its interest in the Amended and Restated Debenture (the "Assigned Debt") to MEF I, L.P. pursuant to an Assignment and Assumption Agreement, dated as of March 9, 2017. Simultaneously therewith, the Company, entered into an Exchange Agreement, dated as of March 9, 2017 (the "Exchange Agreement"), pursuant to which the Company issued to MEF I, L.P. a 4.67% Convertible Promissory Note, dated as of March 9, 2017, in the principal amount of $550 (the "Exchange Note") (refer to MEF I, L.P. section below for additional details). | ||||||||||||||||||||||||||||||||||||||||||||
Maturity date of debt | Jun. 30, 2017 | May 31, 2019 | |||||||||||||||||||||||||||||||||||||||||||
Principal and interest amount | 536 | $ 2,745 | $ 6,100 | $ 493 | 536 | ||||||||||||||||||||||||||||||||||||||||
Principal amount of debt outstanding | $ 350 | 169 | |||||||||||||||||||||||||||||||||||||||||||
Convertible notes payable current | 1,457 | ||||||||||||||||||||||||||||||||||||||||||||
Extinguishment of debt | 389 | ||||||||||||||||||||||||||||||||||||||||||||
Principal amount of convertible notes | 7,500 | ||||||||||||||||||||||||||||||||||||||||||||
Proceeds from senior secured convertible debenture | $ 7,500 | ||||||||||||||||||||||||||||||||||||||||||||
Debt conversion original debt interest rate of debt | 10.00% | ||||||||||||||||||||||||||||||||||||||||||||
Paid interest | $ 24 | 224 | 24 | ||||||||||||||||||||||||||||||||||||||||||
JGB (Cayman) Waltham Ltd. [Member] | Secured Debt [Member] | |||||||||||||||||||||||||||||||||||||||||||||
Term Loan (Textual) | |||||||||||||||||||||||||||||||||||||||||||||
Interest rate | 4.67% | ||||||||||||||||||||||||||||||||||||||||||||
Agreement, description | (i) provide that the Company may prepay such debenture upon prior notice at a 10% premium, (ii) modify the conversion price at which such debenture converts into common stock from a fixed price of $320.00 to the lowest of (a) $81.72 per share, (b) 80% of the average VWAPs (as defined in the Amended and Restated Debenture) for each of the five consecutive trading days immediately prior to the applicable conversion, and (c) 85% of the VWAP (as defined in the Amended and Restated Debenture) for the trading day immediately preceding the applicable conversion (the "Conversion Price"), and (iii) eliminate three additional 7.5% payments due to JGB Waltham in 2017, 2018 and 2019, as per such debenture. | ||||||||||||||||||||||||||||||||||||||||||||
Principal and interest amount | $ 6,100 | ||||||||||||||||||||||||||||||||||||||||||||
Gain (loss) on extinguishment of debt, net | $ 274 | ||||||||||||||||||||||||||||||||||||||||||||
Extinguishment of debt | 483 | ||||||||||||||||||||||||||||||||||||||||||||
Principal amount of convertible notes | $ 4,094 | ||||||||||||||||||||||||||||||||||||||||||||
Conversion to common stock | $ 384 | ||||||||||||||||||||||||||||||||||||||||||||
Dominion Capital LLC [Member] | |||||||||||||||||||||||||||||||||||||||||||||
Term Loan (Textual) | |||||||||||||||||||||||||||||||||||||||||||||
Interest rate | 12.00% | 12.00% | 12.00% | 12.00% | |||||||||||||||||||||||||||||||||||||||||
Principal and interest amount | $ 1,000 | ||||||||||||||||||||||||||||||||||||||||||||
Principal amount of debt outstanding | $ 1,060 | $ 151 | |||||||||||||||||||||||||||||||||||||||||||
Issuance of shares pursuant to convertible debentures, shares | 871 | ||||||||||||||||||||||||||||||||||||||||||||
Loss on conversion of debt | $ 264 | $ 238 | |||||||||||||||||||||||||||||||||||||||||||
Fair value of price per share | $ 800 | ||||||||||||||||||||||||||||||||||||||||||||
Principal amount of convertible notes | $ 606 | $ 606 | |||||||||||||||||||||||||||||||||||||||||||
Dominion Capital LLC August 6, 2015 Senior Convertible Note [Member] | |||||||||||||||||||||||||||||||||||||||||||||
Term Loan (Textual) | |||||||||||||||||||||||||||||||||||||||||||||
Gain (loss) on extinguishment of debt, net | 197 | ||||||||||||||||||||||||||||||||||||||||||||
Extinguishment of debt | 832 | ||||||||||||||||||||||||||||||||||||||||||||
Conversion to common stock | 1,053 | ||||||||||||||||||||||||||||||||||||||||||||
Converted the remaining principal outstanding | $ 1,199 | ||||||||||||||||||||||||||||||||||||||||||||
Dominion Capital LLC January 31, 2017 Senior Convertible Promissory Note [Member] | |||||||||||||||||||||||||||||||||||||||||||||
Term Loan (Textual) | |||||||||||||||||||||||||||||||||||||||||||||
Interest rate | 6.00% | ||||||||||||||||||||||||||||||||||||||||||||
Debt conversion price description | The note is convertible at 70% of the lowest VWAP in the 15 trading days prior to the conversion date. Refer to Note 12, Derivative Instruments, for further detail on the derivative features associated with the January 31, 2017 convertible note. | ||||||||||||||||||||||||||||||||||||||||||||
Principal and interest amount | $ 70 | ||||||||||||||||||||||||||||||||||||||||||||
Convertible promissory note [Member] | |||||||||||||||||||||||||||||||||||||||||||||
Term Loan (Textual) | |||||||||||||||||||||||||||||||||||||||||||||
Interest rate | 8.00% | ||||||||||||||||||||||||||||||||||||||||||||
Convertible promissory note [Member] | Vault Logix Llc [Member] | |||||||||||||||||||||||||||||||||||||||||||||
Term Loan (Textual) | |||||||||||||||||||||||||||||||||||||||||||||
Aggregate purchase price | $ 36,796 | ||||||||||||||||||||||||||||||||||||||||||||
Interest rate | 8.00% | ||||||||||||||||||||||||||||||||||||||||||||
Cash | $ 16,385 | ||||||||||||||||||||||||||||||||||||||||||||
Common shares issued for acquisition | 1,008,690 | ||||||||||||||||||||||||||||||||||||||||||||
Unsecured convertible promissory notes | $ 15,627 | ||||||||||||||||||||||||||||||||||||||||||||
Initial conversion price | $ 6.37 | ||||||||||||||||||||||||||||||||||||||||||||
Maturity date of debt | Oct. 9, 2017 | ||||||||||||||||||||||||||||||||||||||||||||
Promissory Note [Member] | |||||||||||||||||||||||||||||||||||||||||||||
Term Loan (Textual) | |||||||||||||||||||||||||||||||||||||||||||||
Interest rate | 12.00% | ||||||||||||||||||||||||||||||||||||||||||||
Unsecured convertible promissory notes | $ 2,105 | ||||||||||||||||||||||||||||||||||||||||||||
Initial conversion price | $ 800 | ||||||||||||||||||||||||||||||||||||||||||||
Maturity date of debt | Jul. 6, 2017 | ||||||||||||||||||||||||||||||||||||||||||||
Principal and interest amount | $ 2,105 | ||||||||||||||||||||||||||||||||||||||||||||
Underwritting offering cost | $ 10,000 | ||||||||||||||||||||||||||||||||||||||||||||
Convertible promissory note three [Member] | |||||||||||||||||||||||||||||||||||||||||||||
Term Loan (Textual) | |||||||||||||||||||||||||||||||||||||||||||||
Maturity date of debt | Oct. 31, 2017 | ||||||||||||||||||||||||||||||||||||||||||||
Principal and interest amount | $ 210 | ||||||||||||||||||||||||||||||||||||||||||||
Issuance of shares pursuant to convertible debentures, shares | 384,164 | ||||||||||||||||||||||||||||||||||||||||||||
Gain (loss) on extinguishment of debt, net | $ 264 | ||||||||||||||||||||||||||||||||||||||||||||
Convertible Note Agreement [Member] | |||||||||||||||||||||||||||||||||||||||||||||
Term Loan (Textual) | |||||||||||||||||||||||||||||||||||||||||||||
Interest rate | 12.00% | 12.00% | |||||||||||||||||||||||||||||||||||||||||||
Debt conversion price description | The lesser of $125.00 or 75% of the average daily VWAP for the five (5) trading days prior to the conversion date. | ||||||||||||||||||||||||||||||||||||||||||||
Initial conversion price | $ 2 | ||||||||||||||||||||||||||||||||||||||||||||
Maturity date of debt | Jan. 11, 2017 | ||||||||||||||||||||||||||||||||||||||||||||
Principal and interest amount | $ 526 | $ 526 | |||||||||||||||||||||||||||||||||||||||||||
Principal amount of debt outstanding | $ 526 | ||||||||||||||||||||||||||||||||||||||||||||
Conversion to common stock | $ 1,053 | ||||||||||||||||||||||||||||||||||||||||||||
Convertible Note Agreement [Member] | JGB (Cayman) Waltham Ltd. [Member] | |||||||||||||||||||||||||||||||||||||||||||||
Term Loan (Textual) | |||||||||||||||||||||||||||||||||||||||||||||
Agreement, description | On February 28, 2017, the Company entered into a consent agreement with JGB Waltham and JGB Concord in order to, among other things, (i) obtain the consent of JGB Waltham and JGB Concord to the Highwire Asset Purchase Agreement ("APA"); (ii) amend the conversion price of the JGB Waltham Debenture, JGB Waltham 2.7 Note, and the JGB Concord Debenture to the lower of (a) $16.00 per share and (b) 80% of the lowest daily VWAP (as defined in the Debenture) for the 30 consecutive trading days immediately prior to the applicable conversion; (iii) apply $3,625 of the purchase price received in connection with the APA to payments to JGB Waltham and JGB Concord in respect of the convertible note, as more particularly set forth in the consent. | On May 23, 2016, the Company entered into an amended agreement with JGB Concord, JGB Waltham, White Oak Global Advisors, LLC, VaultLogix, and the Guarantors thereto (the "Amended Agreement") pursuant to which (i) JGB Concord permitted the Company to withdraw $172 from the Blocked Account (as defined in the original debenture), and (ii) JGB Concord permitted the Company to withdraw $328 from the Deposit Account (as defined in the original note) and, in exchange for the foregoing, (i) VaultLogix guaranteed the obligations of, and provide security for, the Amended and Restated Debenture and the 2.7 Note, (ii) the Company's subsidiaries guaranteed all indebtedness due to JGB Concord under the Amended and Restated Note and 5.2 Note, and (iii) the Company and its subsidiaries pledged their assets as security for all obligations owed to JGB Concord under the Amended and Restated Note and the 5.2 Note in accordance with the terms of an Additional Debtor Joinder, dated May 23, 2016 | |||||||||||||||||||||||||||||||||||||||||||
Senior Convertible Notes [Member] | |||||||||||||||||||||||||||||||||||||||||||||
Term Loan (Textual) | |||||||||||||||||||||||||||||||||||||||||||||
Maturity date of debt | Mar. 4, 2006 | Jan. 26, 2016 | Feb. 19, 2016 | ||||||||||||||||||||||||||||||||||||||||||
Principal amount of debt outstanding | 363 | 363 | |||||||||||||||||||||||||||||||||||||||||||
Gain (loss) on extinguishment of debt, net | 167 | ||||||||||||||||||||||||||||||||||||||||||||
Convertible notes payable current | $ 97 | $ 97 | |||||||||||||||||||||||||||||||||||||||||||
Senior notes | $ 1,500 | $ 55 | |||||||||||||||||||||||||||||||||||||||||||
Principal amount of convertible notes | $ 500 | $ 500 | $ 500 | ||||||||||||||||||||||||||||||||||||||||||
Senior Convertible Notes [Member] | JGB (Cayman) Waltham Ltd. [Member] | |||||||||||||||||||||||||||||||||||||||||||||
Term Loan (Textual) | |||||||||||||||||||||||||||||||||||||||||||||
Aggregate purchase price | $ 6,711 | ||||||||||||||||||||||||||||||||||||||||||||
Interest rate | 0.67% | 0.67% | 8.25% | 0.67% | 8.25% | ||||||||||||||||||||||||||||||||||||||||
Debt conversion price description | (a) $2.00 per share, (b) 80% of the average of the volume weighted average prices for each of the five consecutive trading days immediately prior to the applicable conversion date, and (c) 85% of the volume weighted average price for the trading day immediately preceding the applicable conversion date, subject to adjustment as set forth in the note. | ||||||||||||||||||||||||||||||||||||||||||||
Initial conversion price | $ 0.80 | $ 0.80 | |||||||||||||||||||||||||||||||||||||||||||
Maturity date of debt | May 31, 2019 | May 31, 2019 | Feb. 18, 2019 | ||||||||||||||||||||||||||||||||||||||||||
Principal and interest amount | $ 11,601 | $ 5,220 | $ 11,601 | $ 11,601 | $ 11,601 | ||||||||||||||||||||||||||||||||||||||||
Principal amount of debt outstanding | $ 322 | $ 322 | |||||||||||||||||||||||||||||||||||||||||||
Gain (loss) on extinguishment of debt, net | $ 2,772 |
Term Loans (Details Textual 2)
Term Loans (Details Textual 2) - USD ($) $ / shares in Units, $ in Thousands | Mar. 09, 2017 | Nov. 18, 2016 | Nov. 04, 2016 | Sep. 15, 2016 | Sep. 01, 2016 | Jan. 22, 2016 | Dec. 11, 2015 | Nov. 13, 2015 | Nov. 12, 2015 | Sep. 17, 2015 | Aug. 06, 2015 | May 15, 2015 | Mar. 02, 2015 | Oct. 09, 2014 | Dec. 31, 2017 | Aug. 25, 2017 | Feb. 28, 2017 | Dec. 31, 2016 | Nov. 30, 2016 | Jun. 23, 2016 | May 23, 2016 | May 17, 2016 | Feb. 29, 2016 | Feb. 18, 2016 | Jan. 31, 2016 | Dec. 29, 2015 | Nov. 30, 2015 | Nov. 27, 2015 | Oct. 31, 2015 | Mar. 31, 2015 | Jan. 31, 2015 | Apr. 15, 2014 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | Apr. 03, 2017 | Aug. 06, 2016 | Jul. 20, 2016 | Feb. 17, 2016 | Dec. 03, 2014 | Mar. 12, 2014 |
Term Loans (Textual) | ||||||||||||||||||||||||||||||||||||||||||
Maturity date of notes | Oct. 31, 2017 | |||||||||||||||||||||||||||||||||||||||||
Principal and interest amount | $ 430 | $ 430 | $ 100 | |||||||||||||||||||||||||||||||||||||||
Maturity date, description | A term of one year | On May 7, 2014, the Company issued a promissory note to the Mark Munro 1996 Charitable Remainder UniTrust in the principal amount of $300 that bears interest at the rate of 18% per annum and matures on March 31, 2016. | ||||||||||||||||||||||||||||||||||||||||
Monthly amortization payments | $ (483) | (1,143) | ||||||||||||||||||||||||||||||||||||||||
Cash receivables | $ 3,617 | 382 | 3,617 | 382 | ||||||||||||||||||||||||||||||||||||||
Exchange amount | 16,147 | 7,216 | ||||||||||||||||||||||||||||||||||||||||
Amount of debt discount | 485 | |||||||||||||||||||||||||||||||||||||||||
Principal amount of debt outstanding | $ 11,304 | |||||||||||||||||||||||||||||||||||||||||
Derivative Liabilities | 0 | 39 | 0 | 39 | ||||||||||||||||||||||||||||||||||||||
(Loss) on extinguishment of debt | (8,857) | (9,587) | ||||||||||||||||||||||||||||||||||||||||
Common stock issued | 94,905 | 192,096 | 300,000 | 1,961 | ||||||||||||||||||||||||||||||||||||||
Paid interest | 232 | 3,012 | ||||||||||||||||||||||||||||||||||||||||
Additional interest of debenture amount | $ 1,058 | 1,860 | 1,058 | 1,860 | ||||||||||||||||||||||||||||||||||||||
Percentage of senior secured convertible debenture | 8.00% | 8.00% | ||||||||||||||||||||||||||||||||||||||||
Warrant expiration date | Dec. 31, 2017 | Sep. 17, 2017 | ||||||||||||||||||||||||||||||||||||||||
Restricted cash applied to long term loans | (2,000) | |||||||||||||||||||||||||||||||||||||||||
Terms of conversion feature of debt | This note is convertible into shares of common stock of the buyer at a conversion price per share equal to 75% of the lowest VWAP during the fifteen (15) trading days immediately prior to the conversion date. | |||||||||||||||||||||||||||||||||||||||||
Warrant [Member] | ||||||||||||||||||||||||||||||||||||||||||
Term Loans (Textual) | ||||||||||||||||||||||||||||||||||||||||||
Common stock issued | 94,905 | |||||||||||||||||||||||||||||||||||||||||
Fair value of JGB warrant derivative | $ 972 | |||||||||||||||||||||||||||||||||||||||||
Common Stock [Member] | ||||||||||||||||||||||||||||||||||||||||||
Term Loans (Textual) | ||||||||||||||||||||||||||||||||||||||||||
Initial conversion price | $ 2 | |||||||||||||||||||||||||||||||||||||||||
Common stock issued | 3,500,000 | |||||||||||||||||||||||||||||||||||||||||
Warrant expiration date | Dec. 31, 2017 | |||||||||||||||||||||||||||||||||||||||||
Common stock exercise price | $ 4 | |||||||||||||||||||||||||||||||||||||||||
Secured Debt [Member] | ||||||||||||||||||||||||||||||||||||||||||
Term Loans (Textual) | ||||||||||||||||||||||||||||||||||||||||||
Principal and interest amount | $ 500 | |||||||||||||||||||||||||||||||||||||||||
Smithline Senior Convertible Note [Member] | ||||||||||||||||||||||||||||||||||||||||||
Term Loans (Textual) | ||||||||||||||||||||||||||||||||||||||||||
Exchange amount | 363 | |||||||||||||||||||||||||||||||||||||||||
Extinguishment of debt | $ 328 | |||||||||||||||||||||||||||||||||||||||||
Converted principal amount outstanding to company's common stock | 372 | |||||||||||||||||||||||||||||||||||||||||
Securities Investment [Member] | ||||||||||||||||||||||||||||||||||||||||||
Term Loans (Textual) | ||||||||||||||||||||||||||||||||||||||||||
Interest rate | 12.00% | |||||||||||||||||||||||||||||||||||||||||
Legal fees | 25 | |||||||||||||||||||||||||||||||||||||||||
Principal and interest amount | $ 525 | 2,300 | 2,300 | |||||||||||||||||||||||||||||||||||||||
Maturity date, description | (i) cash, in which case the Company would also have to issue to the investor a number of shares of the Company's common stock equal to 5% of such amortization payment or (ii) subject to the Company satisfying certain equity conditions, shares of the Company's common stock, pursuant to the amortization conversion rate, which was equal to the lower of (x) $700.00 and (y) a 25% discount to lowest volume weighted average price of the Company's common stock in the prior three trading days. | |||||||||||||||||||||||||||||||||||||||||
Exchange amount | 590 | |||||||||||||||||||||||||||||||||||||||||
Extinguishment of debt | 2,300 | |||||||||||||||||||||||||||||||||||||||||
Initial conversion price | $ 700 | |||||||||||||||||||||||||||||||||||||||||
Upon conversion, the beneficial conversion feature | 139 | |||||||||||||||||||||||||||||||||||||||||
Reduced accrued interest | 199 | |||||||||||||||||||||||||||||||||||||||||
Paid interest | $ 419 | |||||||||||||||||||||||||||||||||||||||||
Exchange Agreement [Member] | ||||||||||||||||||||||||||||||||||||||||||
Term Loans (Textual) | ||||||||||||||||||||||||||||||||||||||||||
Maturity date of notes | Nov. 30, 2017 | |||||||||||||||||||||||||||||||||||||||||
Principal amount of debt outstanding | $ 12,025 | |||||||||||||||||||||||||||||||||||||||||
Initial conversion price | $ 10.50 | |||||||||||||||||||||||||||||||||||||||||
Term of warrants | 3 years | |||||||||||||||||||||||||||||||||||||||||
Exercise price of warrants | $ 7.25 | |||||||||||||||||||||||||||||||||||||||||
Bridge Financing Agreement [Member] | ||||||||||||||||||||||||||||||||||||||||||
Term Loans (Textual) | ||||||||||||||||||||||||||||||||||||||||||
Interest rate | 12.00% | |||||||||||||||||||||||||||||||||||||||||
Principal and interest amount | $ 6,000 | |||||||||||||||||||||||||||||||||||||||||
Extinguishment of debt | 6,020 | |||||||||||||||||||||||||||||||||||||||||
Term of warrants | 180 days | |||||||||||||||||||||||||||||||||||||||||
Exercise price of warrants | $ 5 | |||||||||||||||||||||||||||||||||||||||||
(Loss) on extinguishment of debt | $ 847 | |||||||||||||||||||||||||||||||||||||||||
Common stock issued | 500,000 | 1,600,000 | 1,250 | |||||||||||||||||||||||||||||||||||||||
GPB Life Science Holdings, LLC [Member] | ||||||||||||||||||||||||||||||||||||||||||
Term Loans (Textual) | ||||||||||||||||||||||||||||||||||||||||||
Interest rate | 4.00% | |||||||||||||||||||||||||||||||||||||||||
Proceeds from senior secured convertible debenture | $ 2,300 | |||||||||||||||||||||||||||||||||||||||||
GPB Life Science Holdings, LLC [Member] | Exchange Agreement [Member] | ||||||||||||||||||||||||||||||||||||||||||
Term Loans (Textual) | ||||||||||||||||||||||||||||||||||||||||||
Interest rate | 12.00% | |||||||||||||||||||||||||||||||||||||||||
Principal and interest amount | $ 500 | |||||||||||||||||||||||||||||||||||||||||
Maturity date, description | (i) cash, in which case the Company would also have to issue to the investor a number of shares of the Company's common stock equal to 5% of such redemption payment or (ii) subject to the Company satisfying certain equity conditions, shares of the Company's common stock, pursuant to the redemption conversion rate, which was equal to the lower of (x) $500.00 and (y) a 25% discount to lowest volume weighted average price of the Company's common stock in the prior three trading days. | |||||||||||||||||||||||||||||||||||||||||
Initial conversion price | $ 500 | |||||||||||||||||||||||||||||||||||||||||
Principal amount of convertible notes | $ 1,500 | |||||||||||||||||||||||||||||||||||||||||
GPB Life Science Holdings, LLC [Member] | Bridge Financing Agreement [Member] | ||||||||||||||||||||||||||||||||||||||||||
Term Loans (Textual) | ||||||||||||||||||||||||||||||||||||||||||
(Loss) on extinguishment of debt | $ 74 | |||||||||||||||||||||||||||||||||||||||||
Vault Logix Llc [Member] | ||||||||||||||||||||||||||||||||||||||||||
Term Loans (Textual) | ||||||||||||||||||||||||||||||||||||||||||
Principal and interest amount | $ 13,261 | |||||||||||||||||||||||||||||||||||||||||
(Loss) on extinguishment of debt | $ 843 | |||||||||||||||||||||||||||||||||||||||||
Jgb (Cayman) Waltham Ltd [Member] | ||||||||||||||||||||||||||||||||||||||||||
Term Loans (Textual) | ||||||||||||||||||||||||||||||||||||||||||
Maturity date of notes | Jun. 30, 2017 | May 31, 2019 | ||||||||||||||||||||||||||||||||||||||||
Interest rate | 0.67% | 0.67% | 10.00% | 0.67% | ||||||||||||||||||||||||||||||||||||||
Principal and interest amount | $ 493 | 536 | $ 2,745 | $ 6,100 | $ 493 | 536 | ||||||||||||||||||||||||||||||||||||
Cash receivables | 3,730 | |||||||||||||||||||||||||||||||||||||||||
Amount of debt discount | 500 | |||||||||||||||||||||||||||||||||||||||||
Principal amount of debt outstanding | $ 169 | $ 350 | 169 | |||||||||||||||||||||||||||||||||||||||
Proceeds from senior secured convertible debenture | $ 7,500 | |||||||||||||||||||||||||||||||||||||||||
Extinguishment of debt | $ 389 | |||||||||||||||||||||||||||||||||||||||||
Initial conversion price | $ 320 | $ 532 | $ 320 | |||||||||||||||||||||||||||||||||||||||
Aggregate purchase price | 3,529 | |||||||||||||||||||||||||||||||||||||||||
Agreement, description | On March 9, 2017, JGB Waltham, the Company, and a third-party investor effectuated a two-part exchange with respect to a portion of the Amended and Restated Debenture in which JGB Waltham assigned a portion of its interest in the Amended and Restated Debenture (the "Assigned Debt") to MEF I, L.P. pursuant to an Assignment and Assumption Agreement, dated as of March 9, 2017. Simultaneously therewith, the Company, entered into an Exchange Agreement, dated as of March 9, 2017 (the "Exchange Agreement"), pursuant to which the Company issued to MEF I, L.P. a 4.67% Convertible Promissory Note, dated as of March 9, 2017, in the principal amount of $550 (the "Exchange Note") (refer to MEF I, L.P. section below for additional details). | |||||||||||||||||||||||||||||||||||||||||
Debt conversion price description | The Company shall pay JGB Waltham an additional amount equal to 7.5% of the outstanding principal amount on the Amended and Restated Debenture on each of May 31, 2018 and May 31, 2019, subject to certain exceptions set forth in the Amended and Restated Debenture. | |||||||||||||||||||||||||||||||||||||||||
Principal amount of convertible notes | $ 7,500 | |||||||||||||||||||||||||||||||||||||||||
Paid interest | 24 | $ 224 | 24 | |||||||||||||||||||||||||||||||||||||||
Convertible notes payable current | $ 1,457 | |||||||||||||||||||||||||||||||||||||||||
Additional interest of debenture amount | $ 350 | |||||||||||||||||||||||||||||||||||||||||
Percentage of senior secured convertible debenture | 10.00% | |||||||||||||||||||||||||||||||||||||||||
Terms of conversion feature of debt | During the year ended December 31, 2017, JGB Waltham converted $511 of principal and accrued interest into shares of the Company's common stock (refer to Note 16, Stockholders' Deficit, for further information). As a result of these conversions, the Company recorded a loss on extinguishment of debt of $636 in the consolidated statement of operations for the year ended December 31, 2017. During the year ended December 31, 2016, JGB Waltham converted $384 of principal and accrued interest into shares of the Company's common stock (refer to Note 16, Stockholders' Deficit, for further information).Principal of $3,091 and $5,034 related to the JGB Waltham December Debenture remained outstanding as of December 31, 2017 and 2016, respectively. Principal of $294 and $592 related to the JGB Waltham 2.7 Note remained outstanding as of December 31, 2017 and 2016, respectively. | |||||||||||||||||||||||||||||||||||||||||
Consent agreement description | (i) obtain the consent of JGB Waltham and JGB Concord to the Highwire Asset Purchase Agreement ("APA"); (ii) amend the conversion price of the JGB Waltham Debenture, JGB Waltham 2.7 Note, and the JGB Concord Debenture to the lower of (a) $16.00 per share and (b) 80% of the lowest daily VWAP (as defined in the Debenture) for the thirty consecutive trading days immediately prior to the applicable conversion; (iii) apply $3,625 of the purchase price received in connection with the APA to payments to JGB Waltham and JGB Concord in respect of the convertible note, as more particularly set forth in the consent. | |||||||||||||||||||||||||||||||||||||||||
Jgb (Cayman) Waltham Ltd [Member] | Secured Debt [Member] | ||||||||||||||||||||||||||||||||||||||||||
Term Loans (Textual) | ||||||||||||||||||||||||||||||||||||||||||
Interest rate | 4.67% | |||||||||||||||||||||||||||||||||||||||||
Principal and interest amount | $ 6,100 | |||||||||||||||||||||||||||||||||||||||||
Note convertible, description | (i) JGB Waltham and JGB Concord released to the Company an aggregate of $1,500 from the Deposit Account (as defined in the original note). Upon the release of the funds (i) the JGB Waltham senior secured convertible debenture (the "December Debenture") was amended to increase the Applicable Interest Rate (as defined in the original note) by 3.0% to take effect on July 1, 2016; (ii) the December Debenture was amended to increase the annual rate of interest by 3.0% to take effect on July 1, 2016; (iii) the JGB Concord senior secured convertible note (the "February Convertible Note") was amended to increase the Applicable Interest Rate (as defined in the original February Convertible Note) by 3.0%, to take effect on July 1, 2016; and (iv) the February Note was amended to increase the annual rate of interest by 3.0%, to take effect on July 1, 2016. After giving effect to the foregoing annual rate of interest on each December Debenture and February Convertible Note as of July 1, 2016, was 4.67%. As additional consideration for the release of the funds, the Company issued 2,250 shares of the Company's common stock on June 23, 2016 to JGB Concord, and agreed to a make-whole provision whereby the Company will pay JGB Concord in cash the difference between $376.00 per share of the Company's common stock and the average volume weighted average price of the Company's common stock sixty days after the shares of the Company's common stock are freely tradable. Refer to Note 9, Derivative Instruments, for further detail on the Company's accounting for the JGB Concord make-whole provision. | |||||||||||||||||||||||||||||||||||||||||
Exchange amount | 384 | |||||||||||||||||||||||||||||||||||||||||
Extinguishment of debt | $ 483 | |||||||||||||||||||||||||||||||||||||||||
Agreement, description | (i) provide that the Company may prepay such debenture upon prior notice at a 10% premium, (ii) modify the conversion price at which such debenture converts into common stock from a fixed price of $320.00 to the lowest of (a) $81.72 per share, (b) 80% of the average VWAPs (as defined in the Amended and Restated Debenture) for each of the five consecutive trading days immediately prior to the applicable conversion, and (c) 85% of the VWAP (as defined in the Amended and Restated Debenture) for the trading day immediately preceding the applicable conversion (the "Conversion Price"), and (iii) eliminate three additional 7.5% payments due to JGB Waltham in 2017, 2018 and 2019, as per such debenture. | |||||||||||||||||||||||||||||||||||||||||
(Loss) on extinguishment of debt | $ 274 | |||||||||||||||||||||||||||||||||||||||||
Common stock issued | 2,250 | |||||||||||||||||||||||||||||||||||||||||
Principal amount of convertible notes | $ 4,094 | |||||||||||||||||||||||||||||||||||||||||
2.7 note [Member] | ||||||||||||||||||||||||||||||||||||||||||
Term Loans (Textual) | ||||||||||||||||||||||||||||||||||||||||||
Principal and interest amount | $ 298 | 2,000 | $ 298 | 2,000 | ||||||||||||||||||||||||||||||||||||||
Extinguishment of debt | 35 | |||||||||||||||||||||||||||||||||||||||||
Paid interest | 20 | 25 | 20 | |||||||||||||||||||||||||||||||||||||||
12% Convertible Term Promissory Note [Member] | ||||||||||||||||||||||||||||||||||||||||||
Term Loans (Textual) | ||||||||||||||||||||||||||||||||||||||||||
Cash proceeds | $ 500 | |||||||||||||||||||||||||||||||||||||||||
Maturity date of notes | Nov. 4, 2016 | |||||||||||||||||||||||||||||||||||||||||
Interest rate | 12.00% | |||||||||||||||||||||||||||||||||||||||||
Guaranteed interest | $ 12 | $ 30 | ||||||||||||||||||||||||||||||||||||||||
Legal fees | $ 5 | |||||||||||||||||||||||||||||||||||||||||
Description of redemption of the notes | The note may be redeemed at any time prior to maturity at an amount equal to 110% of the outstanding principal amount plus any accrued and unpaid interest on the note. The redemption premium (10%) can be paid in cash or common stock at the option of the Company. If the Company's common stock is used to make such payment, then such shares shall be delivered by the third business day following the maturity date, or date of demand, as applicable, at a mutually agreed upon conversion price by both parties. | |||||||||||||||||||||||||||||||||||||||||
Principal and interest amount | $ 1,000 | 474 | 474 | |||||||||||||||||||||||||||||||||||||||
Maturity date, description | The maturity date of the note was extended from November 4, 2016 to November 4, 2017. | |||||||||||||||||||||||||||||||||||||||||
Monthly amortization payments | $ 86 | |||||||||||||||||||||||||||||||||||||||||
Note convertible, description | The note is convertible at the lower of (i) $4.00, or (ii) 75% of the lowest VWAP day for the 15 days prior to the conversion date. | |||||||||||||||||||||||||||||||||||||||||
Cash receivables | 1,000 | 474 | 474 | 474 | 474 | |||||||||||||||||||||||||||||||||||||
Exchange amount | 950 | 430 | ||||||||||||||||||||||||||||||||||||||||
Amount of debt discount | $ 50 | $ 101 | 44 | 44 | ||||||||||||||||||||||||||||||||||||||
Payment of receivables loan | 1,000 | $ 1,000 | ||||||||||||||||||||||||||||||||||||||||
Extinguishment of debt | 351 | |||||||||||||||||||||||||||||||||||||||||
(Loss) on extinguishment of debt | 146 | |||||||||||||||||||||||||||||||||||||||||
Principal amount of convertible notes | $ 465 | $ 465 | ||||||||||||||||||||||||||||||||||||||||
12% Convertible Term Promissory Note [Member] | Maximum [Member] | ||||||||||||||||||||||||||||||||||||||||||
Term Loans (Textual) | ||||||||||||||||||||||||||||||||||||||||||
Principal and interest amount | 540 | |||||||||||||||||||||||||||||||||||||||||
12% Convertible Term Promissory Note [Member] | Minimum [Member] | ||||||||||||||||||||||||||||||||||||||||||
Term Loans (Textual) | ||||||||||||||||||||||||||||||||||||||||||
Principal and interest amount | $ 40 | |||||||||||||||||||||||||||||||||||||||||
Senior Convertible Notes [Member] | ||||||||||||||||||||||||||||||||||||||||||
Term Loans (Textual) | ||||||||||||||||||||||||||||||||||||||||||
Maturity date of notes | Mar. 4, 2006 | Jan. 26, 2016 | Feb. 19, 2016 | |||||||||||||||||||||||||||||||||||||||
Principal amount of debt outstanding | 363 | 363 | ||||||||||||||||||||||||||||||||||||||||
(Loss) on extinguishment of debt | 167 | |||||||||||||||||||||||||||||||||||||||||
Principal amount of convertible notes | $ 500 | $ 500 | $ 500 | |||||||||||||||||||||||||||||||||||||||
Senior notes | $ 1,500 | $ 55 | ||||||||||||||||||||||||||||||||||||||||
Convertible notes payable current | $ 97 | $ 97 | ||||||||||||||||||||||||||||||||||||||||
Senior Convertible Notes [Member] | Jgb (Cayman) Waltham Ltd [Member] | ||||||||||||||||||||||||||||||||||||||||||
Term Loans (Textual) | ||||||||||||||||||||||||||||||||||||||||||
Maturity date of notes | May 31, 2019 | May 31, 2019 | Feb. 18, 2019 | |||||||||||||||||||||||||||||||||||||||
Interest rate | 0.67% | 0.67% | 8.25% | 0.67% | 8.25% | |||||||||||||||||||||||||||||||||||||
Principal and interest amount | $ 11,601 | $ 5,220 | $ 11,601 | $ 11,601 | $ 11,601 | |||||||||||||||||||||||||||||||||||||
Principal amount of debt outstanding | $ 322 | $ 322 | ||||||||||||||||||||||||||||||||||||||||
Initial conversion price | $ 0.80 | $ 0.80 | ||||||||||||||||||||||||||||||||||||||||
Aggregate purchase price | 6,711 | |||||||||||||||||||||||||||||||||||||||||
(Loss) on extinguishment of debt | $ 2,772 | |||||||||||||||||||||||||||||||||||||||||
Debt conversion price description | (a) $2.00 per share, (b) 80% of the average of the volume weighted average prices for each of the five consecutive trading days immediately prior to the applicable conversion date, and (c) 85% of the volume weighted average price for the trading day immediately preceding the applicable conversion date, subject to adjustment as set forth in the note. | |||||||||||||||||||||||||||||||||||||||||
Convertible Note Agreement [Member] | ||||||||||||||||||||||||||||||||||||||||||
Term Loans (Textual) | ||||||||||||||||||||||||||||||||||||||||||
Maturity date of notes | Jan. 11, 2017 | |||||||||||||||||||||||||||||||||||||||||
Interest rate | 12.00% | 12.00% | ||||||||||||||||||||||||||||||||||||||||
Principal and interest amount | $ 526 | $ 526 | ||||||||||||||||||||||||||||||||||||||||
Exchange amount | $ 1,053 | |||||||||||||||||||||||||||||||||||||||||
Principal amount of debt outstanding | $ 526 | |||||||||||||||||||||||||||||||||||||||||
Initial conversion price | $ 2 | |||||||||||||||||||||||||||||||||||||||||
Debt conversion price description | The lesser of $125.00 or 75% of the average daily VWAP for the five (5) trading days prior to the conversion date. | |||||||||||||||||||||||||||||||||||||||||
Convertible Note Agreement [Member] | Jgb (Cayman) Waltham Ltd [Member] | ||||||||||||||||||||||||||||||||||||||||||
Term Loans (Textual) | ||||||||||||||||||||||||||||||||||||||||||
Agreement, description | On February 28, 2017, the Company entered into a consent agreement with JGB Waltham and JGB Concord in order to, among other things, (i) obtain the consent of JGB Waltham and JGB Concord to the Highwire Asset Purchase Agreement ("APA"); (ii) amend the conversion price of the JGB Waltham Debenture, JGB Waltham 2.7 Note, and the JGB Concord Debenture to the lower of (a) $16.00 per share and (b) 80% of the lowest daily VWAP (as defined in the Debenture) for the 30 consecutive trading days immediately prior to the applicable conversion; (iii) apply $3,625 of the purchase price received in connection with the APA to payments to JGB Waltham and JGB Concord in respect of the convertible note, as more particularly set forth in the consent. | On May 23, 2016, the Company entered into an amended agreement with JGB Concord, JGB Waltham, White Oak Global Advisors, LLC, VaultLogix, and the Guarantors thereto (the "Amended Agreement") pursuant to which (i) JGB Concord permitted the Company to withdraw $172 from the Blocked Account (as defined in the original debenture), and (ii) JGB Concord permitted the Company to withdraw $328 from the Deposit Account (as defined in the original note) and, in exchange for the foregoing, (i) VaultLogix guaranteed the obligations of, and provide security for, the Amended and Restated Debenture and the 2.7 Note, (ii) the Company's subsidiaries guaranteed all indebtedness due to JGB Concord under the Amended and Restated Note and 5.2 Note, and (iii) the Company and its subsidiaries pledged their assets as security for all obligations owed to JGB Concord under the Amended and Restated Note and the 5.2 Note in accordance with the terms of an Additional Debtor Joinder, dated May 23, 2016 | ||||||||||||||||||||||||||||||||||||||||
Convertible Note Agreement [Member] | Jgb (Cayman) Waltham Ltd [Member] | Maximum [Member] | ||||||||||||||||||||||||||||||||||||||||||
Term Loans (Textual) | ||||||||||||||||||||||||||||||||||||||||||
Interest rate | 1.67% | |||||||||||||||||||||||||||||||||||||||||
Convertible Note Agreement [Member] | Jgb (Cayman) Waltham Ltd [Member] | Minimum [Member] | ||||||||||||||||||||||||||||||||||||||||||
Term Loans (Textual) | ||||||||||||||||||||||||||||||||||||||||||
Interest rate | 0.67% |
Term Loans (Details Textual 3)
Term Loans (Details Textual 3) - USD ($) | Dec. 08, 2017 | Oct. 12, 2017 | Sep. 27, 2017 | Jul. 18, 2017 | Jul. 14, 2017 | Apr. 03, 2017 | Mar. 09, 2017 | Dec. 30, 2016 | Sep. 01, 2016 | May 19, 2015 | Mar. 04, 2015 | Dec. 31, 2016 | Nov. 30, 2016 | Oct. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Jun. 23, 2016 | May 23, 2016 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | Nov. 09, 2017 | Oct. 09, 2014 | Aug. 31, 2011 |
Term Loans (Textual) | ||||||||||||||||||||||||||
Principal and interest amount | $ 100,000 | $ 430,000 | $ 430,000 | |||||||||||||||||||||||
Common stock, shares issued | 13,742,977 | |||||||||||||||||||||||||
Fair value of convertible note | 43,729,000 | $ 13,044 | 43,729,000 | |||||||||||||||||||||||
Gain (loss) on extinguishment of debt, net | (8,857,000) | $ (9,587,000) | ||||||||||||||||||||||||
Maturity date of debt | Oct. 31, 2017 | |||||||||||||||||||||||||
Issuance of shares pursuant to conversion of debt | 16,147,000 | $ 7,216,000 | ||||||||||||||||||||||||
Interest Paid | 232,000 | 3,012,000 | ||||||||||||||||||||||||
Principal amount | 2,000 | 12,071,000 | 2,000 | |||||||||||||||||||||||
Second amended and restated convertible note [Member] | ||||||||||||||||||||||||||
Term Loans (Textual) | ||||||||||||||||||||||||||
Agreement, description | (i) increase the interest rate payable thereon from 0.67% to 4.67%, (ii) provide that the Company may prepay the Amended and Restated Convertible Note upon prior notice at a 10% premium, (iii) provide that the Holder Affiliate may convert its interest in the Amended and Restated Convertible Note into shares of Common Stock at the applicable Conversion Price, and (iv) eliminate three additional 7.5% payments due to the Holder Affiliate in 2017, 2018, and 2019, as per the Convertible Note. | |||||||||||||||||||||||||
Principal and interest amount | 0 | 0 | ||||||||||||||||||||||||
Debt instrument interest rate premium | 10.00% | |||||||||||||||||||||||||
Debt instrument conversion price ratio | 7.5 | |||||||||||||||||||||||||
Gain (loss) on extinguishment of debt, net | $ 1,187,000 | |||||||||||||||||||||||||
MEF I, L.P. Exchange Note [Member] | ||||||||||||||||||||||||||
Term Loans (Textual) | ||||||||||||||||||||||||||
Agreement, description | On March 9, 2017, JGB Waltham, the Company, and a third-party investor effectuated a two-part exchange with respect to a portion of the Amended and Restated Debenture in which JGB Waltham assigned a portion of its interest in the Amended and Restated Debenture (the "Assigned Debt") to MEF I, L.P. pursuant to an Assignment and Assumption Agreement, dated as of March 9, 2017. Simultaneously therewith, the Company entered into an Exchange Agreement, dated as of March 9, 2017 (the "Exchange Agreement"), pursuant to which the Company issued to MEF I, L.P. a 4.67% convertible promissory note, dated as of March 9, 2017, in the aggregate principal amount of $550 (the "Exchange Note"). The Exchange Note is convertible at the lower of (i) $16.00 or (ii) 80% of the lowest VWAP in the 30 trading days prior to the conversion date (refer to Note 12, Derivative Instruments, for further detail on the derivative features associated with the Exchange Note). | |||||||||||||||||||||||||
Principal and interest amount | 0 | |||||||||||||||||||||||||
Gain (loss) on extinguishment of debt, net | 150,000 | |||||||||||||||||||||||||
Interest Paid | 575,000 | |||||||||||||||||||||||||
RDW April 3, 2017 2.5 % Convertible Promissory Note [Member] | ||||||||||||||||||||||||||
Term Loans (Textual) | ||||||||||||||||||||||||||
Note convertible, description | On April 3, 2017, Scott Davis, a former officer of the Company assigned $100 of his promissory note in the original principal amount of $250, reduced to $225 based on a $25 conversion into common stock, to RDW. As consideration for the assignment, RDW paid Scott Davis $40. The note was convertible at a price of $888.00 and was due on demand. As of April 3, 2017, the outstanding amount of principal and accrued interest for the note was $225 and $57, respectively. Subsequent to the assignment of $100 principal amount of the note to RDW, the remainder of the note was forgiven. The original note was included within notes payable, related parties on the consolidated balance sheets. Per ASC 470-50-40-2, debt extinguishment transactions between related parties are in essence a capital contribution from a related party. As a result, rather than recording a gain or loss on extinguishment of debt, the Company recorded $182 to additional paid-in capital on the consolidated balance sheet. | |||||||||||||||||||||||||
Principal and interest amount | $ 100,000 | |||||||||||||||||||||||||
Interest rate | 2.50% | |||||||||||||||||||||||||
Initial conversion price | $ 75 | |||||||||||||||||||||||||
Gain (loss) on extinguishment of debt, net | $ 34,000 | |||||||||||||||||||||||||
Maturity date of debt | Apr. 3, 2018 | |||||||||||||||||||||||||
RDW July 14, 2017 9.9% Convertible Promissory Note [Member] | ||||||||||||||||||||||||||
Term Loans (Textual) | ||||||||||||||||||||||||||
Note convertible, description | <font style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;">On July 14, 2017, the Company issued a convertible promissory note to RDW in the principal amount of $155, which accrues interest at the rate of 9.9% per annum, and matures on July 14, 2018. The note is convertible at the lower of (i) $4.00 or (ii) 75% of the lowest five VWAPS over the seven trading days prior to the date of conversion (refer to Note 12, Derivative Instruments, for further detail on the derivative features associated with the RDW July 14, 2017 9.9% convertible note). <font style="font-family: 'times new roman', times, serif; font-size: 10pt;"><font style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;">During the year ended December 31, 2017, the investor who holds the 9.9% promissory note did not convert any principal or accrued interest into shares of the Company’s common stock.</font></font></font></p></div>" id="sjs-F34"><div><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0pt 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; orphans: 2; widows: 2; font-stretch: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial;"><font style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;">On July 14, 2017, the Company issued a convertible promissory note to RDW in the principal amount of $155, which accrues interest at the rate of 9.9% per annum, and matures on July 14, 2018. The note is convertible at the lower of (i) $4.00 or (ii) 75% of the lowest five VWAPS over the seven trading days prior to the date of conversion (refer to Note 12, Derivative Instruments, for further detail on the derivative features associated with the RDW July 14, 2017 9.9% convertible note). <font style="font-family: 'times new roman', times, serif; font-size: 10pt;"><font style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;">During the year ended December 31, 2017, the investor who holds the 9.9% promissory note did not convert any principal or accrued interest into shares of the Company’s common stock.</font></font></font></p></div> | |||||||||||||||||||||||||
Assignment of Tim Hannibal Note - RDW July 18, 2017 2.5% Convertible Promissory Note [Member] | ||||||||||||||||||||||||||
Term Loans (Textual) | ||||||||||||||||||||||||||
Note convertible, description | On July 18, 2017, Tim Hannibal assigned 100% of his 8% convertible promissory note in the original principal amount of $1,215, due October 9, 2017, to RDW. This note was convertible into the Company's common stock at a price of $2,548.00 per share. RDW then exchanged this original note for a new 2.5% convertible promissory note in the principal amount of $1,215 that matures on July 18, 2018. The conversion price of such note is equal to the lower of (i) $4.00 or (ii) 75% of the lowest five VWAPS over the seven trading days prior to the date of conversion (refer to Note 12, Derivative Instruments, for further detail on the derivative features associated with the RDW July 18, 2017 2.5% convertible note). In addition, Tim Hannibal forgave all outstanding interest relating to the original note. The Company recorded a loss on extinguishment of debt of $297 on the consolidated statement of operations for the year ended December 31, 2017. | |||||||||||||||||||||||||
Interest rate | 2.50% | |||||||||||||||||||||||||
Gain (loss) on extinguishment of debt, net | $ 286,000 | |||||||||||||||||||||||||
Issuance of shares pursuant to conversion of debt | 1,215,000 | |||||||||||||||||||||||||
RDW September 27, 2017 9.9% Convertible Promissory Note [Member] | ||||||||||||||||||||||||||
Term Loans (Textual) | ||||||||||||||||||||||||||
Note convertible, description | <font style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;">On September 27, 2017, the Company issued a convertible promissory note to RDW in the principal amount of $155, that bears interest at the rate of 9.9% per annum, and matures on September 27, 2018. The note is convertible at the lower of (i) $4.00 or (ii) 75% of the lowest five VWAPS over the twenty trading days prior to the date of conversion (refer to Note 12, Derivative Instruments, for further detail on the derivative features associated with the RDW September 27, 2017 9.9% convertible note). <font style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;">During the year ended December 31, 2017, the investor who holds the 9.9% promissory note did not convert any principal or accrued interest into shares of the Company’s common stock.</font></font></p></div>" id="sjs-D43"><div><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0pt 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; orphans: 2; widows: 2; font-stretch: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial;"><font style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;">On September 27, 2017, the Company issued a convertible promissory note to RDW in the principal amount of $155, that bears interest at the rate of 9.9% per annum, and matures on September 27, 2018. The note is convertible at the lower of (i) $4.00 or (ii) 75% of the lowest five VWAPS over the twenty trading days prior to the date of conversion (refer to Note 12, Derivative Instruments, for further detail on the derivative features associated with the RDW September 27, 2017 9.9% convertible note). <font style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;">During the year ended December 31, 2017, the investor who holds the 9.9% promissory note did not convert any principal or accrued interest into shares of the Company’s common stock.</font></font></p></div> | |||||||||||||||||||||||||
Restructuring of Forward Investments, LLC Promissory Notes and Working Capital Loan [Member] | ||||||||||||||||||||||||||
Term Loans (Textual) | ||||||||||||||||||||||||||
Note convertible, description | <font style="font: 10pt/normal 'times new roman', times, serif; font-size-adjust: none; font-stretch: normal;">On March 4, 2015, the Company restructured the terms of certain promissory notes issued by it to a related party investor, Forward Investments, LLC, in order to extend the maturity dates thereof, reduce the seniority and reduce the interest rate accruing thereon. The following notes were restructured as follows:</font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0pt 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; orphans: 2; widows: 2; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial;"><font style="font: 10pt/normal 'times new roman', times, serif; font-size-adjust: none; font-stretch: normal;"> </font></p><table style="font: 10pt/normal 'times new roman', times, serif; width: 1567px; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; orphans: 2; widows: 2; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial;" cellspacing="0" cellpadding="0"><tr style="font: 10pt/normal 'times new roman', times, serif; vertical-align: top; font-size-adjust: none; font-stretch: normal;"><td style="font: 10pt/normal 'times new roman', times, serif; width: 48px; font-size-adjust: none; font-stretch: normal;"><font style="font: 10pt/normal 'times new roman', times, serif; font-size-adjust: none; font-stretch: normal;"> </font></td><td style="font: 10pt/normal 'times new roman', times, serif; width: 0.25in; font-size-adjust: none; font-stretch: normal;"><font style="font: 10pt/normal 'times new roman', times, serif; font-size-adjust: none; font-stretch: normal;">●</font></td><td style="font: 10pt/normal 'times new roman', times, serif; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font: 10pt/normal 'times new roman', times, serif; font-size-adjust: none; font-stretch: normal;">notes issued to Forward Investments, LLC in the aggregate principal amount of $3,650 that bear interest at the rate of 10% per annum, had the maturity date extended from June 30, 2015 to July 1, 2016. These notes matured on July 1, 2016;</font></td></tr></table><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0pt 0px; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; orphans: 2; widows: 2; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial;"><font style="font: 10pt/normal 'times new roman', times, serif; font-size-adjust: none; font-stretch: normal;"> </font></p><table style="font: 10pt/normal 'times new roman', times, serif; width: 1567px; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; orphans: 2; widows: 2; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial;" cellspacing="0" cellpadding="0"><tr style="font: 10pt/normal 'times new roman', times, serif; vertical-align: top; font-size-adjust: none; font-stretch: normal;"><td style="font: 10pt/normal 'times new roman', times, serif; width: 48px; font-size-adjust: none; font-stretch: normal;"><font style="font: 10pt/normal 'times new roman', times, serif; font-size-adjust: none; font-stretch: normal;"> </font></td><td style="font: 10pt/normal 'times new roman', times, serif; width: 0.25in; font-size-adjust: none; font-stretch: normal;"><font style="font: 10pt/normal 'times new roman', times, serif; font-size-adjust: none; font-stretch: normal;">●</font></td><td style="font: 10pt/normal 'times new roman', times, serif; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font: 10pt/normal 'times new roman', times, serif; font-size-adjust: none; font-stretch: normal;">notes issued to Forward Investments, LLC in the principal amount of $2,825 that bear interest at the rate of 2% per annum, had the maturity date extended from June 30, 2015 to July 1, 2016. These notes matured on July 1, 2016; and</font></td></tr><tr style="font: 10pt/normal 'times new roman', times, serif; vertical-align: top; font-size-adjust: none; font-stretch: normal;"><td style="font: 10pt/normal 'times new roman', times, serif; font-size-adjust: none; font-stretch: normal;"><font style="font: 10pt/normal 'times new roman', times, serif; font-size-adjust: none; font-stretch: normal;"> </font></td><td style="font: 10pt/normal 'times new roman', times, serif; font-size-adjust: none; font-stretch: normal;"><font style="font: 10pt/normal 'times new roman', times, serif; font-size-adjust: none; font-stretch: normal;"> </font></td><td style="font: 10pt/normal 'times new roman', times, serif; font-size-adjust: none; font-stretch: normal;"><font style="font: 10pt/normal 'times new roman', times, serif; font-size-adjust: none; font-stretch: normal;"> </font></td></tr><tr style="font: 10pt/normal 'times new roman', times, serif; vertical-align: top; font-size-adjust: none; font-stretch: normal;"><td style="font: 10pt/normal 'times new roman', times, serif; font-size-adjust: none; font-stretch: normal;"><font style="font: 10pt/normal 'times new roman', times, serif; font-size-adjust: none; font-stretch: normal;"> </font></td><td style="font: 10pt/normal 'times new roman', times, serif; font-size-adjust: none; font-stretch: normal;"><font style="font: 10pt/normal 'times new roman', times, serif; font-size-adjust: none; font-stretch: normal;">●</font></td><td style="font: 10pt/normal 'times new roman', times, serif; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font: 10pt/normal 'times new roman', times, serif; font-size-adjust: none; font-stretch: normal;">notes issued to Forward Investments, LLC in the aggregate principal amount of $2,645 were converted from senior notes to junior notes, had the interest rate reduced from 18% to 3% per annum, had the maturity date extended by approximately three years to January 1, 2018, and originally were convertible at a conversion price of $2,544.00 per share until the Convertible Debentures were repaid in full and thereafter $940.00 per share, subject to further adjustment as set forth
therein.</font></td></tr></table></div>" id="sjs-L46"><div><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0pt 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; orphans: 2; widows: 2; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial;"><font style="font: 10pt/normal 'times new roman', times, serif; font-size-adjust: none; font-stretch: normal;">On March 4, 2015, the Company restructured the terms of certain promissory notes issued by it to a related party investor, Forward Investments, LLC, in order to extend the maturity dates thereof, reduce the seniority and reduce the interest rate accruing thereon. The following notes were restructured as follows:</font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0pt 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; orphans: 2; widows: 2; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial;"><font style="font: 10pt/normal 'times new roman', times, serif; font-size-adjust: none; font-stretch: normal;"> </font></p><table style="font: 10pt/normal 'times new roman', times, serif; width: 1567px; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; orphans: 2; widows: 2; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial;" cellspacing="0" cellpadding="0"><tr style="font: 10pt/normal 'times new roman', times, serif; vertical-align: top; font-size-adjust: none; font-stretch: normal;"><td style="font: 10pt/normal 'times new roman', times, serif; width: 48px; font-size-adjust: none; font-stretch: normal;"><font style="font: 10pt/normal 'times new roman', times, serif; font-size-adjust: none; font-stretch: normal;"> </font></td><td style="font: 10pt/normal 'times new roman', times, serif; width: 0.25in; font-size-adjust: none; font-stretch: normal;"><font style="font: 10pt/normal 'times new roman', times, serif; font-size-adjust: none; font-stretch: normal;">●</font></td><td style="font: 10pt/normal 'times new roman', times, serif; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font: 10pt/normal 'times new roman', times, serif; font-size-adjust: none; font-stretch: normal;">notes issued to Forward Investments, LLC in the aggregate principal amount of $3,650 that bear interest at the rate of 10% per annum, had the maturity date extended from June 30, 2015 to July 1, 2016. These notes matured on July 1, 2016;</font></td></tr></table><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0pt 0px; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; orphans: 2; widows: 2; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial;"><font style="font: 10pt/normal 'times new roman', times, serif; font-size-adjust: none; font-stretch: normal;"> </font></p><table style="font: 10pt/normal 'times new roman', times, serif; width: 1567px; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; orphans: 2; widows: 2; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial;" cellspacing="0" cellpadding="0"><tr style="font: 10pt/normal 'times new roman', times, serif; vertical-align: top; font-size-adjust: none; font-stretch: normal;"><td style="font: 10pt/normal 'times new roman', times, serif; width: 48px; font-size-adjust: none; font-stretch: normal;"><font style="font: 10pt/normal 'times new roman', times, serif; font-size-adjust: none; font-stretch: normal;"> </font></td><td style="font: 10pt/normal 'times new roman', times, serif; width: 0.25in; font-size-adjust: none; font-stretch: normal;"><font style="font: 10pt/normal 'times new roman', times, serif; font-size-adjust: none; font-stretch: normal;">●</font></td><td style="font: 10pt/normal 'times new roman', times, serif; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font: 10pt/normal 'times new roman', times, serif; font-size-adjust: none; font-stretch: normal;">notes issued to Forward Investments, LLC in the principal amount of $2,825 that bear interest at the rate of 2% per annum, had the maturity date extended from June 30, 2015 to July 1, 2016. These notes matured on July 1, 2016; and</font></td></tr><tr style="font: 10pt/normal 'times new roman', times, serif; vertical-align: top; font-size-adjust: none; font-stretch: normal;"><td style="font: 10pt/normal 'times new roman', times, serif; font-size-adjust: none; font-stretch: normal;"><font style="font: 10pt/normal 'times new roman', times, serif; font-size-adjust: none; font-stretch: normal;"> </font></td><td style="font: 10pt/normal 'times new roman', times, serif; font-size-adjust: none; font-stretch: normal;"><font style="font: 10pt/normal 'times new roman', times, serif; font-size-adjust: none; font-stretch: normal;"> </font></td><td style="font: 10pt/normal 'times new roman', times, serif; font-size-adjust: none; font-stretch: normal;"><font style="font: 10pt/normal 'times new roman', times, serif; font-size-adjust: none; font-stretch: normal;"> </font></td></tr><tr style="font: 10pt/normal 'times new roman', times, serif; vertical-align: top; font-size-adjust: none; font-stretch: normal;"><td style="font: 10pt/normal 'times new roman', times, serif; font-size-adjust: none; font-stretch: normal;"><font style="font: 10pt/normal 'times new roman', times, serif; font-size-adjust: none; font-stretch: normal;"> </font></td><td style="font: 10pt/normal 'times new roman', times, serif; font-size-adjust: none; font-stretch: normal;"><font style="font: 10pt/normal 'times new roman', times, serif; font-size-adjust: none; font-stretch: normal;">●</font></td><td style="font: 10pt/normal 'times new roman', times, serif; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font: 10pt/normal 'times new roman', times, serif; font-size-adjust: none; font-stretch: normal;">notes issued to Forward Investments, LLC in the aggregate principal amount of $2,645 were converted from senior notes to junior notes, had the interest rate reduced from 18% to 3% per annum, had the maturity date extended by approximately three years to January 1, 2018, and originally were convertible at a conversion price of $2,544.00 per share until the Convertible Debentures were repaid in full and thereafter $940.00 per share, subject to further adjustment as set forth therein.</font></td></tr></table></div> | |||||||||||||||||||||||||
Agreement, description | <div>In connection with such restructuring, Forward Investments, LLC agreed to lend to the Company an amount substantially similar to the accrued interest the Company owed to Forward Investments, LLC on the restructured notes. In consideration for such restructuring and additional payments made by Forward Investments, LLC to the Company, the Company issued to Forward Investments, LLC an additional convertible note in the original principal amount of $1,730 with an interest rate of 3% per annum, which matured on January 1, 2018, and an initial conversion price of $2,544.00 per share until the Convertible Debentures were repaid in full and thereafter $940.00 per share, subject to further adjustment as set forth therein, and provided Forward Investments, LLC the option to lend the Company an additional $8,000 in the form of convertible notes similar to the existing convertible notes of the Company issued to Forward Investments, LLC. The convertible note was issued to Forward Investments, LLC as an incentive to restructure the above-mentioned notes and resulted in the Company recording a loss on modification of debt of $1,508 on the unaudited condensed consolidated statement of operations as of March 31, 2015.</div> | |||||||||||||||||||||||||
Principal and interest amount | $ 5,435 | |||||||||||||||||||||||||
Interest rate | 6.50% | |||||||||||||||||||||||||
Common stock, shares issued | 2,900,103 | |||||||||||||||||||||||||
Gain (loss) on extinguishment of debt, net | $ 530 | |||||||||||||||||||||||||
Issuance of shares pursuant to conversion of debt | 390,000 | |||||||||||||||||||||||||
Convertible Promissory Note to Frank Jadevaia, Former Owner of IPC [Member] | ||||||||||||||||||||||||||
Term Loans (Textual) | ||||||||||||||||||||||||||
Note convertible, description | <div>On January 1, 2014, the Company acquired all of the outstanding capital stock of IPC. As part of the purchase price for the acquisition, the Company issued a convertible promissory note to Frank Jadevaia, then President of the Company, in the original principal amount of $6,255. The convertible promissory note accrued interest at the rate of 8% per annum, and all principal and interest accruing thereunder was originally due and payable on December 31, 2014. At the election of Mr. Jadevaia, the convertible promissory note was convertible into shares of the Company’s common stock at a conversion price of $6,796.00 per share (subject to equitable adjustments for stock dividends, stock splits, recapitalizations and other similar events). The Company could have elected to force the conversion of the convertible promissory note if the Company’s common stock was trading at a price greater than or equal to $6,796.00 for ten consecutive trading days. This note was subordinated until the Senior Secured Convertible Notes issued to the JGB entities are paid in full.</div> | |||||||||||||||||||||||||
Principal and interest amount | $ 5,430,000 | $ 500,000 | ||||||||||||||||||||||||
Initial conversion price | $ 1,352 | |||||||||||||||||||||||||
Maturity date of debt | May 30, 2016 | May 30, 2016 | ||||||||||||||||||||||||
Issuance of shares pursuant to conversion of debt | $ 400,000 | |||||||||||||||||||||||||
Issuance of shares of common stock | 581 | 25,000 | ||||||||||||||||||||||||
RDW October 12, 2017 9.9% Convertible Promissory Note [Member] | ||||||||||||||||||||||||||
Term Loans (Textual) | ||||||||||||||||||||||||||
Note convertible, description | On October 12, 2017, Frank Jadevaia, former owner of IPC, assigned $400 of his outstanding promissory notes to RDW. The new note is in the principal amount of $400, bears interest at the rate of 9.9% per annum, and matures on September 27, 2018. The note is convertible at the lower of (i) $4.00 or (ii) 75% of the lowest VWAP over the twenty trading days prior to the date of conversion (refer to Note 12, Derivative Instruments, for further detail on the derivative features associated with the RDW October 12. 2017 9.9% convertible note).During the year ended December 31, 2017, the investor who holds the October 12, 2017 9.9% promissory note converted $267 of principal into shares of the Company's common stock (refer to Note 16, Stockholders' Deficit, for further information). As a result of these conversions, the Company recorded a loss on extinguishment of debt of $114 to the consolidated statement of operations for the year ended December 31, 2017. | |||||||||||||||||||||||||
Promissory Note to Former Owner of Tropical [Member] | ||||||||||||||||||||||||||
Term Loans (Textual) | ||||||||||||||||||||||||||
Principal and interest amount | $ 106,000 | |||||||||||||||||||||||||
Gain (loss) on extinguishment of debt, net | 131,000 | |||||||||||||||||||||||||
Interest Paid | $ 25,000 | |||||||||||||||||||||||||
RDW December 8, 2017 9.9% Convertible Promissory Note [Member] | ||||||||||||||||||||||||||
Term Loans (Textual) | ||||||||||||||||||||||||||
Note convertible, description | On December 8, 2017, London Bay VL Holding Company LLC assigned $600 of an outstanding promissory note to RDW. The new note is in the principal amount of $600, bears interest at the rate of 9.9% per annum, and matures on December 8, 2018. The note is convertible at the lower of (i) $4.00 or (ii) 65% of the lowest VWAP over the twenty trading days prior to the date of conversion (refer to Note 12, Derivative Instruments, for further detail on the derivative features associated with the RDW December 8. 2017 9.9% convertible note).During the year ended December 31, 2017, the investor who holds the December 8, 2017 9.9% promissory note converted $120 of principal into shares of the Company's common stock (refer to Note 16, Stockholders' Deficit, for further information). As a result of these conversions, the Company recorded a loss on extinguishment of debt of $203 to the consolidated statement of operations for the year ended December 31, 2017. | |||||||||||||||||||||||||
Principal and interest amount | $ 600,000 | |||||||||||||||||||||||||
London Bay - VL Holding Company LLC October 9, 2017 Convertible Promissory Note [Member] | ||||||||||||||||||||||||||
Term Loans (Textual) | ||||||||||||||||||||||||||
Principal and interest amount | $ 600,000 | $ 2,003,000 | ||||||||||||||||||||||||
WV VL Holding Corp October 9, 2017 Convertible Promissory Note [Member] | ||||||||||||||||||||||||||
Term Loans (Textual) | ||||||||||||||||||||||||||
Principal and interest amount | $ 300,000 | |||||||||||||||||||||||||
Interest rate | 8.00% | |||||||||||||||||||||||||
London Bay - VL Holding Company, LLC convertible promissory note, unsecured, 0% and 8.8% interest, respectively, maturing in October 2018 [Member] | ||||||||||||||||||||||||||
Term Loans (Textual) | ||||||||||||||||||||||||||
Agreement, description | On November 17, 2017, the Company amended a convertible promissory note originally issued to London Bay VL Holding Company LLC on October 9, 2014. The amendment extended the maturity date to October 9, 2018. The amended note is in the principal amount of $2,003 and does not accrue interest. The note is convertible at 95% of the average of the three lowest prices during the 5 days preceding conversion (refer to Note 12, Derivative Instruments, for further detail on the derivative features associated with the amended note).On December 8, 2017, the holder of the amended note assigned $600 of principal to RDW Capital LLC (refer to the "RDW December 8, 2017 9.9% Convertible Promissory Note" section of this note for further detail).During the year ended December 31, 2017, the investor who holds the amended note did not convert any principal or accrued interest into shares of the company's common stock. | |||||||||||||||||||||||||
Issuance of shares of common stock | 5,405 | |||||||||||||||||||||||||
Principal amount | 7,408,000 | $ 1,403,000 | 7,408,000 | |||||||||||||||||||||||
WV VL Holding Corp convertible promissory note, unsecured, 0% and 8.8% interest, respectively, maturing in October 2018 [Member] | ||||||||||||||||||||||||||
Term Loans (Textual) | ||||||||||||||||||||||||||
Agreement, description | On November 17, 2017, the Company amended a convertible promissory note originally issued to WV VL Holding Corp on October 9, 2014. The amendment extended the maturity date to October 9, 2018. The amended note is in the principal amount of $2,005 and does not accrue interest. The note is convertible at 95% of the average of the three lowest prices during the 5 days preceding conversion (refer to Note 12, Derivative Instruments, for further detail on the derivative features associated with the amended note).During the year ended December 31, 2017, the investor who holds the amended note did not convert any principal or accrued interest into shares of the company's common stock. | |||||||||||||||||||||||||
Issuance of shares of common stock | 4,998 | |||||||||||||||||||||||||
Principal amount | 7,003,000 | $ 2,005,000 | 7,003,000 | |||||||||||||||||||||||
JGB Concord [Member] | ||||||||||||||||||||||||||
Term Loans (Textual) | ||||||||||||||||||||||||||
Principal and interest amount | $ 3,748,000 | 11,000 | 3,748,000 | |||||||||||||||||||||||
Gain (loss) on extinguishment of debt, net | $ 1,187,000 | |||||||||||||||||||||||||
Cash received | $ 391,000 | |||||||||||||||||||||||||
Issuance of shares pursuant to conversion of debt | $ 921,000 | |||||||||||||||||||||||||
JGB Concord [Member] | Amended agreement [Member] | ||||||||||||||||||||||||||
Term Loans (Textual) | ||||||||||||||||||||||||||
Agreement, description | (i) JGB Concord permitted the Company to withdraw $172 from the Blocked Account (as defined in the original debenture), and (ii) JGB Concord permitted the Company to withdraw $328 from the Deposit Account (as defined in the original note). | |||||||||||||||||||||||||
Withdrawal from blocked account | $ 172,000 | |||||||||||||||||||||||||
Withdrawal from deposit account | $ 328,000 | |||||||||||||||||||||||||
JGB Concord and JGB Waltham [Member] | ||||||||||||||||||||||||||
Term Loans (Textual) | ||||||||||||||||||||||||||
Agreement, description | (i) JGB Waltham and JGB Concord released to the Company an aggregate of $1,500 from the Deposit Account (as defined in the original note). Upon the release of the funds (i) the JGB Waltham senior secured convertible debenture (the "December Debenture") was amended to increase the Applicable Interest Rate (as defined in the original note) by 3.0% to take effect on July 1, 2016; (ii) the December Debenture was amended to increase the annual rate of interest by 3.0% to take effect on July 1, 2016; (iii) the JGB Concord senior secured convertible note (the "February Convertible Note") was amended to increase the Applicable Interest Rate (as defined in the original February Convertible Note) by 3.0%, to take effect on July 1, 2016; and (iv) the February Note was amended to increase the annual rate of interest by 3.0%, to take effect on July 1, 2016. | |||||||||||||||||||||||||
Withdrawal from deposit account | $ 1,500,000 | |||||||||||||||||||||||||
Principal and interest amount | $ 11,601,000 | |||||||||||||||||||||||||
Interest rate | 4.67% | |||||||||||||||||||||||||
Common stock, shares issued | 2,250 | |||||||||||||||||||||||||
Initial conversion price | $ 0.94 | |||||||||||||||||||||||||
Fair value of convertible note | $ 7,786,000 | |||||||||||||||||||||||||
Gain (loss) on extinguishment of debt, net | $ 1,150,000 | $ 1,279,000 | ||||||||||||||||||||||||
Issuance of shares of common stock | 14,400 | 18,878 | 9,014 | 11,483 | 2,250 | |||||||||||||||||||||
VaultLogix [Member] | Amended agreement [Member] | ||||||||||||||||||||||||||
Term Loans (Textual) | ||||||||||||||||||||||||||
Agreement, description | (i) VaultLogix guaranteed the obligations of, and provide security for, the Amended and Restated Debenture and the 2.7 Note, (ii) the Company's subsidiaries guaranteed all indebtedness due to JGB Concord under the Amended and Restated Note and 5.2 Note, and (iii) the Company and its subsidiaries pledged their assets as security for all obligations owed to JGB Concord under the Amended and Restated Note and the 5.2 Note in accordance with the terms of an Additional Debtor Joinder, dated May 23, 2016, pursuant to which the Company and each additional party thereto agreed to be bound by the terms of that certain Security Agreement, dated as of February 18, 2016, made by VaultLogix in favor of the secured party thereto (the "February Security Agreement"). | |||||||||||||||||||||||||
Minimum [Member] | Second amended and restated convertible note [Member] | ||||||||||||||||||||||||||
Term Loans (Textual) | ||||||||||||||||||||||||||
Interest rate | 0.67% | 0.67% | ||||||||||||||||||||||||
Maximum [Member] | Second amended and restated convertible note [Member] | ||||||||||||||||||||||||||
Term Loans (Textual) | ||||||||||||||||||||||||||
Interest rate | 4.67% | 1.67% | ||||||||||||||||||||||||
Trinity Hall Promissory Note [Member] | ||||||||||||||||||||||||||
Term Loans (Textual) | ||||||||||||||||||||||||||
Principal and interest amount | $ 500,000 | |||||||||||||||||||||||||
Interest rate | 3.00% | |||||||||||||||||||||||||
Maturity date of debt | Jan. 1, 2018 |
Derivative Instruments (Details
Derivative Instruments (Details) | Jul. 12, 2017$ / shares | Dec. 31, 2017$ / shares | Dec. 31, 2016 | Dec. 30, 2016$ / shares |
GPB Warrant-1 [Member] | ||||
Fair value of Company's common stock | $ 4 | |||
Volatility (closing prices of 3-4 comparable public companies, including the Company's historical volatility) | 141.00% | |||
Exercise price per share | $ 700 | |||
Estimated life | 1 year 4 months 20 days | |||
Risk free interest rate (based on 1-year treasury rate) | 1.28 | |||
GPB Warrant-2 [Member] | ||||
Fair value of Company's common stock | $ 4 | |||
Volatility (closing prices of 3-4 comparable public companies, including the Company's historical volatility) | 141.00% | |||
Exercise price per share | $ 700 | |||
Estimated life | 1 year 5 months 12 days | |||
Risk free interest rate (based on 1-year treasury rate) | 1.28 | |||
GPB Warrant-3 [Member] | ||||
Fair value of Company's common stock | $ 4 | |||
Volatility (closing prices of 3-4 comparable public companies, including the Company's historical volatility) | 141.00% | |||
Exercise price per share | $ 700 | |||
Estimated life | 1 year 10 months 3 days | |||
Risk free interest rate (based on 1-year treasury rate) | 1.28 | |||
Series K Preferred Stock [Member] | ||||
Fair value of Company's common stock | $ 0.27 | |||
Volatility (closing prices of 3-4 comparable public companies, including the Company's historical volatility) | 160.00% | |||
Exercise price per share | $ 3 | |||
Estimated life | 4 years 10 months 10 days | |||
Risk free interest rate (based on 1-year treasury rate) | 2.20 | |||
Series L Preferred Stock [Member] | ||||
Fair value of Company's common stock | $ 0.27 | |||
Volatility (closing prices of 3-4 comparable public companies, including the Company's historical volatility) | 160.00% | |||
Exercise price per share | $ 3 | |||
Estimated life | 4 years 9 months 11 days | |||
Risk free interest rate (based on 1-year treasury rate) | 2.20 | |||
Series M Preferred Stock [Member] | ||||
Fair value of Company's common stock | $ 0.27 | |||
Volatility (closing prices of 3-4 comparable public companies, including the Company's historical volatility) | 159.00% | |||
Exercise price per share | $ 3 | |||
Estimated life | 4 years 11 months 12 days | |||
Risk free interest rate (based on 1-year treasury rate) | 2.26 | |||
MidMarket Warrants [Member] | ||||
Fair value of Company's common stock | $ 0.27 | $ 12 | ||
Volatility (closing prices of 3-4 comparable public companies, including the Company's historical volatility) | 215.00% | 120.00% | ||
Estimated life | 8 months 12 days | 1 year 8 months 12 days | ||
Risk free interest rate (based on 1-year treasury rate) | 1.65 | 0.12 | ||
MidMarket Warrants [Member] | Maximum [Member] | ||||
Exercise price per share | $ 500 | 500 | ||
MidMarket Warrants [Member] | Minimum [Member] | ||||
Exercise price per share | 400 | 400 | ||
JGB Concord Make [Member] | ||||
Fair value of Company's common stock | 12 | |||
Volatility (closing prices of 3-4 comparable public companies, including the Company's historical volatility) | 120.00% | |||
Exercise price per share | 376 | |||
Estimated life | 1 month 24 days | |||
Risk free interest rate (based on 1-year treasury rate) | 0.48 | |||
SRFF Warrant and Derivative [Member] | ||||
Fair value of Company's common stock | $ 0.27 | 12 | ||
Volatility (closing prices of 3-4 comparable public companies, including the Company's historical volatility) | 201.00% | 120.00% | ||
Exercise price per share | $ 0.400 | $ 0.400 | ||
Estimated life | 2 months 30 days | 2 months 30 days | ||
Risk free interest rate (based on 1-year treasury rate) | 1.39 | 0.57 | ||
JGB (Cayman) Concord Ltd. [Member] | ||||
Volatility (closing prices of 3-4 comparable public companies, including the Company's historical volatility) | 201.00% | 100.00% | ||
Risk free interest rate (based on 1-year treasury rate) | 1.76 | 1.31 | ||
JGB (Cayman) Waltham Ltd. [Member] | ||||
Volatility (closing prices of 3-4 comparable public companies, including the Company's historical volatility) | 201.00% | 100.00% | ||
Risk free interest rate (based on 1-year treasury rate) | 1.76 | 1.31 | ||
JGB Exchange Warrants [Member] | ||||
Fair value of Company's common stock | $ 4 | |||
Volatility (closing prices of 3-4 comparable public companies, including the Company's historical volatility) | 210.00% | |||
Exercise price per share | $ 4 | |||
Estimated life | 5 months 20 days | |||
Risk free interest rate (based on 1-year treasury rate) | 1.13 | |||
JGB Exchange Warrants One [Member] | ||||
Fair value of Company's common stock | $ 4 | |||
Volatility (closing prices of 3-4 comparable public companies, including the Company's historical volatility) | 210.00% | |||
Exercise price per share | $ 4 | |||
Estimated life | 5 months 20 days | |||
Risk free interest rate (based on 1-year treasury rate) | 1.13 |
Derivative Instruments (Detai_2
Derivative Instruments (Details 1) $ / shares in Units, $ in Thousands | 12 Months Ended | |||||
Dec. 31, 2017USD ($)$ / shares | Dec. 31, 2016USD ($)$ / shares | Apr. 03, 2017USD ($) | Dec. 30, 2016USD ($)$ / shares | |||
Derivative [Line Items] | ||||||
Principal and interest amount | $ | $ 430 | $ 100 | ||||
Forward Investments, LLC Convertible Feature [Member] | Factor One [Member] | ||||||
Derivative [Line Items] | ||||||
Principal and interest amount | $ | $ 1,810 | $ 3,210 | ||||
Conversion price per share | $ 312 | |||||
Risk free rate | 2 | 1.93 | ||||
Life of conversion feature (in years) | 4 years | 5 years | ||||
Volatility | 142.00% | 100.00% | ||||
Forward Investments, LLC Convertible Feature [Member] | Factor Two [Member] | ||||||
Derivative [Line Items] | ||||||
Principal and interest amount | $ | $ 582 | $ 390 | ||||
Conversion price per share | $ 312 | |||||
Risk free rate | 2 | 1.93 | ||||
Life of conversion feature (in years) | 4 years | 5 years | ||||
Volatility | 142.00% | 100.00% | ||||
Forward Investments, LLC Convertible Feature [Member] | Factor Three [Member] | ||||||
Derivative [Line Items] | ||||||
Principal and interest amount | $ | $ 1,270 | $ 1,025 | ||||
Conversion price per share | $ 312 | |||||
Risk free rate | 1.39 | 0.51 | ||||
Life of conversion feature (in years) | 3 months 19 days | 3 months 19 days | ||||
Volatility | 195.00% | 135.00% | ||||
Forward Investments, LLC Convertible Feature [Member] | Factor Four [Member] | ||||||
Derivative [Line Items] | ||||||
Principal and interest amount | $ | $ 2,438 | $ 4,373 | ||||
Conversion price per share | $ 312 | |||||
Risk free rate | 1.39 | 0.85 | ||||
Life of conversion feature (in years) | 0 years | 1 year | ||||
Volatility | 195.00% | 120.00% | ||||
Dominion Capital LLC August 6, 2015 Demand Promissory Note [Member] | ||||||
Derivative [Line Items] | ||||||
Principal and interest amount | $ | $ 1,198 | |||||
Conversion price per share | $ 500 | |||||
Conversion trigger price per share | ||||||
Risk free rate | 0.44 | |||||
Life of conversion feature (in years) | 1 month 6 days | |||||
Volatility | 135.00% | |||||
Dominion Capital LLC November 4, 2016 Exchange Agreement [Member] | ||||||
Derivative [Line Items] | ||||||
Principal and interest amount | $ | $ 79 | $ 605 | ||||
Conversion price per share | [1] | $ 40 | ||||
Conversion trigger price per share | ||||||
Risk free rate | 1.39 | 0.76 | ||||
Life of conversion feature (in years) | 2 months 30 days | 9 months 18 days | ||||
Volatility | 195.00% | 120.00% | ||||
Dominion Capital LLC January 31, 2017 - Senior Convertible Debt Features [Member] | ||||||
Derivative [Line Items] | ||||||
Principal and interest amount | $ | $ 80 | |||||
Conversion price per share | [2] | |||||
Conversion trigger price per share | ||||||
Risk free rate | 1.28 | |||||
Life of conversion feature (in years) | 29 days | |||||
Volatility | 310.00% | |||||
JGB (Cayman) Waltham Ltd. [Member] | ||||||
Derivative [Line Items] | ||||||
Principal and interest amount | $ | $ 3,091 | $ 5,034 | ||||
Conversion price per share | [3] | $ 80 | ||||
Conversion trigger price per share | $ 800 | |||||
Risk free rate | 1.76 | 1.31 | ||||
Life of conversion feature (in years) | 1 year 4 months 28 days | 2 years 4 months 28 days | ||||
Volatility | 201.00% | 100.00% | ||||
JGB (Cayman) Waltham Ltd One [Member] | ||||||
Derivative [Line Items] | ||||||
Principal and interest amount | $ | $ 294 | $ 593 | ||||
Conversion price per share | [3] | $ 80 | ||||
Conversion trigger price per share | $ 800 | |||||
Risk free rate | 1.39 | 0.62 | ||||
Life of conversion feature (in years) | 0 years | 6 months 29 days | ||||
Volatility | 195.00% | 130.00% | ||||
JGB (Cayman) Concord Ltd. [Member] | ||||||
Derivative [Line Items] | ||||||
Principal and interest amount | $ | $ 11 | $ 3,749 | ||||
Conversion price per share | $ 80 | |||||
Conversion trigger price per share | $ 800 | |||||
Risk free rate | 1.76 | 1.31 | ||||
Life of conversion feature (in years) | 1 year 4 months 28 days | 2 years 4 months 28 days | ||||
Volatility | 201.00% | 100.00% | ||||
RDW July 14, 2017 9.9% Convertible Promissory Note [Member] | ||||||
Derivative [Line Items] | ||||||
Principal and interest amount | $ | $ 162 | |||||
Conversion price per share | ||||||
Conversion trigger price per share | ||||||
Risk free rate | 1.53 | |||||
Life of conversion feature (in years) | 6 months 10 days | |||||
Volatility | 198.00% | |||||
RDW September 27, 2017 9.9% Convertible Promissory Note [Member] | ||||||
Derivative [Line Items] | ||||||
Principal and interest amount | $ | $ 159 | |||||
Conversion price per share | ||||||
Conversion trigger price per share | ||||||
Risk free rate | 1.53 | |||||
Life of conversion feature (in years) | 8 months 26 days | |||||
Volatility | 187.00% | |||||
RDW October 12, 2017 9.9% Convertible Promissory Note [Member] | ||||||
Derivative [Line Items] | ||||||
Principal and interest amount | $ | $ 140 | |||||
Conversion price per share | [4] | |||||
Conversion trigger price per share | ||||||
Risk free rate | 1.73 | |||||
Life of conversion feature (in years) | 9 months 11 days | |||||
Volatility | 191.00% | |||||
RDW December 8, 2017 9.9% Convertible Promissory Note [Member] | ||||||
Derivative [Line Items] | ||||||
Principal and interest amount | $ | $ 484 | |||||
Conversion price per share | [5] | |||||
Conversion trigger price per share | ||||||
Risk free rate | 1.76 | |||||
Life of conversion feature (in years) | 11 months 8 days | |||||
Volatility | 225.00% | |||||
London Bay - VL Holding Company LLC October 9, 2017 Convertible Promissory Note [Member] | ||||||
Derivative [Line Items] | ||||||
Principal and interest amount | $ | $ 1,426 | |||||
Conversion price per share | [6] | |||||
Conversion trigger price per share | ||||||
Risk free rate | 1.76 | |||||
Life of conversion feature (in years) | 9 months 7 days | |||||
Volatility | 204.00% | |||||
WV VL Holding Corp October 9, 2017 Convertible Promissory Note [Member] | ||||||
Derivative [Line Items] | ||||||
Principal and interest amount | $ | $ 2,028 | |||||
Conversion price per share | [6] | |||||
Conversion trigger price per share | ||||||
Risk free rate | 1.76 | |||||
Life of conversion feature (in years) | 9 months 7 days | |||||
Volatility | 204.00% | |||||
[1] | The conversion price per share is equal to the lesser of $10.00 or 75% of average daily VWAP for the fifteen trading days prior to the conversion date. | |||||
[2] | The conversion price per share is equal to 70% of average daily VWAP for the fifteen trading days prior to the conversion date. | |||||
[3] | The conversion price per share is equal to the lesser of $4.00 or 80% of VWAP on the conversion date. | |||||
[4] | The conversion price per share is equal to the lesser of $4.00 or 75% of the lowest VWAP over the twenty trading days prior to the date of conversion | |||||
[5] | The conversion price per share is equal to the lesser of $4.00 or 65% of the lowest VWAP over the twenty trading days prior to the date of conversion | |||||
[6] | The conversion price per share is equal to 95% of the average of the three lowest prices during the 5 days preceding conversion |
Derivative Instruments (Detai_3
Derivative Instruments (Details Textual) - USD ($) | Dec. 08, 2017 | Nov. 10, 2017 | Oct. 12, 2017 | Oct. 09, 2017 | Sep. 27, 2017 | Jul. 18, 2017 | Jul. 14, 2017 | Apr. 03, 2017 | Mar. 09, 2017 | Nov. 04, 2016 | Sep. 08, 2016 | Sep. 01, 2016 | Dec. 11, 2015 | Nov. 13, 2015 | Nov. 12, 2015 | Sep. 17, 2015 | Aug. 06, 2015 | May 15, 2015 | Mar. 04, 2015 | Dec. 01, 2014 | Feb. 04, 2014 | Oct. 30, 2013 | Dec. 31, 2017 | Nov. 30, 2017 | Oct. 31, 2017 | Sep. 30, 2017 | Aug. 31, 2017 | Aug. 25, 2017 | Jul. 31, 2017 | Mar. 31, 2017 | Feb. 28, 2017 | Jan. 31, 2017 | Jan. 31, 2017 | Dec. 31, 2016 | Nov. 30, 2016 | Oct. 31, 2016 | Sep. 30, 2016 | Aug. 31, 2016 | Jul. 31, 2016 | Jun. 23, 2016 | May 23, 2016 | May 17, 2016 | Feb. 18, 2016 | Feb. 17, 2016 | Dec. 29, 2015 | Nov. 30, 2015 | Nov. 27, 2015 | Oct. 31, 2015 | Oct. 26, 2015 | Mar. 31, 2015 | Jan. 31, 2015 | Oct. 22, 2014 | Mar. 28, 2014 | Mar. 22, 2013 | Sep. 30, 2012 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | Aug. 03, 2015 | May 14, 2015 | Jul. 01, 2014 | Apr. 30, 2014 | Apr. 15, 2014 | Jan. 31, 2013 | Sep. 17, 2012 | |
Derivative Liability (Textual) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair value of warrant | $ 74,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Derivative Liabilities | $ 0 | $ 39,000 | $ 0 | $ 39,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Derivative financial instruments | 16,651,000 | $ 1,316,000 | 16,651,000 | $ 1,316,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrant derivatives fair value on date of issuance / Warrant derivatives fair value and fair value of conversion feature on date of issuance | $ 10,003,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Description of volatility rate | Closing prices of 3-4 comparable public companies, including the Company's historical volatility | Closing prices of 3-4 comparable public companies, including the Company's historical volatility | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair value of derivative liability | $ 0 | 0 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of warrants issued to purchase common stock | 1 | 2.53 | 1 | 625,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Change in fair value of derivative liability recorded as net gain | $ 1,916,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair value of the warrants | $ 75,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Gain on fair value of derivative | $ 369,000 | 41,000 | $ 342,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued to the sellers | 94,905 | 192,096 | 300,000 | 1,961 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants issued to purchase common stock | 6,250 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Exercise price | $ 12 | $ 12 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Expense by Segment | $ 7,050,000 | $ 13,754,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Promissory note interest rate | 75.00% | 8.00% | 8.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity date of notes | Oct. 31, 2017 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Terms of conversion feature of debt | This note is convertible into shares of common stock of the buyer at a conversion price per share equal to 75% of the lowest VWAP during the fifteen (15) trading days immediately prior to the conversion date. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants issued upon issuance of convertible promissory notes | 13,742,977 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt discount | $ 2,897,000 | $ 6,903,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Additional paid-in capital | $ 154,538,000 | $ 130,869,000 | 154,538,000 | 130,869,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Principal and interest amount | $ 100,000 | 430,000 | 430,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair value of convertible note | 13,044 | $ 43,729,000 | 13,044 | 43,729,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Gain on debt extinguishment | (8,857,000) | (9,587,000) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value of Common Stock | 1,650,000 | $ 1,057,000 | 1,650,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrant expiration date | Dec. 31, 2017 | Sep. 17, 2017 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loss on exchange of shares | 2,331,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Gain on modification of warrants | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
12% Convertible Debentures [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Derivative Liability (Textual) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Expense by Segment | 421,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share price of notes payable | $ 6.36 | $ 3.74 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
August 6, 2015 Demand Promissory Note - Senior Convertible Note Embedded [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Derivative Liability (Textual) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrant derivatives fair value on date of issuance / Warrant derivatives fair value and fair value of conversion feature on date of issuance | 176,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Gain on fair value of derivative | $ 163,000 | 185,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amount for working capital | 167,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair value of embedded conversion feature | $ 524,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Promissory note interest rate | 12.00% | 12.00% | 12.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity date of notes | Jan. 6, 2017 | Jan. 31, 2017 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
November 12, 2015 Demand Promissory Note - Senior Convertible Note Embedded [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Derivative Liability (Textual) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Derivative Liabilities | $ 0 | $ 0 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Gain on fair value of derivative | $ 155,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair value of embedded conversion feature | $ 149,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity date of notes | Jan. 31, 2017 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Principal and interest amount | 525,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cash proceeds | 500,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
November 12, 2015 Exchange Agreement Tranches - Senior Convertible Note Embedded [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Derivative Liability (Textual) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amount for working capital | $ 500,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair value of embedded conversion feature | $ 109,000 | $ 164,000 | $ 205,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Promissory note interest rate | 12.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity date of notes | Nov. 30, 2017 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share price of notes payable | $ 1.25 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Principal and interest amount | 500,000 | $ 1,500,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Term of debt | 1 year | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
November 12, 2015 Exchange Agreement Tranches - Senior Convertible Note Embedded [Member] | Tranche One [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Derivative Liability (Textual) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Gain on fair value of derivative | 107,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amount for working capital | 57,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair value of embedded conversion feature | 164,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Principal and interest amount | $ 500,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
November 12, 2015 Exchange Agreement Tranches - Senior Convertible Note Embedded [Member] | Tranche Two [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Derivative Liability (Textual) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Gain on fair value of derivative | 127,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amount for working capital | 78,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair value of embedded conversion feature | 205,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Principal and interest amount | $ 500,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
November 12, 2015 Exchange Agreement Tranches - Senior Convertible Note Embedded [Member] | Tranche Three [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Derivative Liability (Textual) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Gain on fair value of derivative | $ 253,000 | 9,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amount for working capital | 118,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair value of embedded conversion feature | 109,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Principal and interest amount | $ 500,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Dominion Capital November 4, 2016 Exchange Agreement - Senior Convertible Debt Features [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Derivative Liability (Textual) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Derivative Liabilities | $ 242,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity date of notes | Nov. 30, 2017 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Description of debt | The principal amount was increased by $40, and the note became convertible into shares of the Company's common stock. The note is convertible at the lower of (i) $0.10, or (ii) 75% of the lowest VWAP day for the 15 days prior to the conversion date. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Dominion Capital January 31, 2017 - Senior Convertible Debt [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Derivative Liability (Textual) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Promissory note interest rate | 6.00% | 6.00% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity date of notes | Jan. 31, 2018 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Description of debt | (i) $40.00 or (ii) 75% of the lowest VWAP in the 15 trading days prior to the conversion date (for additional detail refer to Note 11, Term Loans). The Company evaluated the senior convertible note's settlement provisions and determined that the voluntary conversion feature and fundamental transaction clauses met the criteria to be classified as embedded derivatives as set forth in ASC 815, Derivatives and Hedging and ASC 480, Distinguishing Liabilities from Equity. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Principal and interest amount | $ 70,000 | $ 70,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2.5% Convertible Promissory Note [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Derivative Liability (Textual) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair value of derivative liability | 0 | 0 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Gain on fair value of derivative | 1,088,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants issued to purchase common stock | 25 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Equity interest percentage | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Promissory note interest rate | 2.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Decrease in conversion price | $ 888 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Principal and interest amount | $ 250,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
9.9% Convertible Promissory Note [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Derivative Liability (Textual) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Gain on fair value of derivative | 32,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair value of embedded conversion feature | $ 126,000 | 94,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Promissory note interest rate | 9.90% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity date of notes | Jul. 14, 2018 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Description of debt | of (i) $4.00 or (ii) 75% of the average of the lowest five VWAPS over the seven trading days prior to the date of conversion. The Company evaluated the convertible note's settlement provisions and determined that the voluntary conversion feature and fundamental transaction clauses met the criteria to be classified as embedded derivatives as set forth in ASC 815, Derivatives and Hedging and ASC 480, Distinguishing Liabilities from Equity. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Principal and interest amount | $ 155,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2.5% Convertible Promissory Note [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Derivative Liability (Textual) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Equity interest percentage | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Promissory note interest rate | 8.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Description of debt | (i) $4.00 or (ii) 75% of the average of the lowest five VWAPS over the seven trading days prior to the date of conversion. The Company evaluated the convertible note's settlement provisions and determined that the voluntary conversion feature and fundamental transaction clauses met the criteria to be classified as embedded derivatives as set forth in ASC 815, Derivatives and Hedging and ASC 480, Distinguishing Liabilities from Equity. On July 18, 2017, the Company used a Monte Carlo simulation to value the settlement features. The Company ascribed a value of $911 related to the conversion feature and recorded this item on the consolidated balance sheets as a derivative liability. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Principal and interest amount | $ 1,215,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock price per share | $ 2,548 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
9.9% Convertible Promissory Note [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Derivative Liability (Textual) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair value of derivative liability | 14,000 | 14,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair value of embedded conversion feature | $ 122,000 | 108,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Promissory note interest rate | 9.90% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity date of notes | Sep. 27, 2018 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Description of debt | (i) $4.00 or (ii) 75% of the average of the lowest five VWAPS over the twenty trading days prior to the date of conversion. The Company evaluated the convertible note's settlement provisions and determined that the voluntary conversion feature and fundamental transaction clauses met the criteria to be classified as embedded derivatives as set forth in ASC 815, Derivatives and Hedging and ASC 480, Distinguishing Liabilities from Equity. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Principal and interest amount | $ 155,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
RDW October 12, 2017 9.9% Convertible Promissory Note [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Derivative Liability (Textual) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Terms of conversion feature of debt | (i) $4.00 or (ii) 75% of the lowest VWAP over the twenty trading days prior to the date of conversion. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Principal and interest amount | $ 400,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest rate | 9.90% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair value of convertible note | 121,000 | 121,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
RDW December 8, 2017 9.9% Convertible Promissory Note [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Derivative Liability (Textual) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Change in fair value of derivative liability recorded as net gain | 17,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Description of debt | London Bay VL Holding Company LLC assigned $600 of an outstanding promissory note to RDW. The new note is in the principal amount of $600, bears interest at the rate of 9.9% per annum, and matures on December 8, 2018. The note is convertible at the lower of (i) $4.00 or (ii) 65% of the lowest VWAP over the twenty trading days prior to the date of conversion. The Company evaluated the convertible note's settlement provisions and determined that the voluntary conversion feature and fundamental transaction clauses met the criteria to be classified as embedded derivatives as set forth in ASC 815, Derivatives and Hedging and ASC 480, Distinguishing Liabilities from Equity. On December 8, 2017, the Company used a Monte Carlo simulation to value the settlement features. The Company ascribed a value of $600 related to the conversion feature and recorded this item on the consolidated balance sheets as a derivative liability. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair value of convertible note | $ 617,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
November 17, 2017 Convertible Promissory Note [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Derivative Liability (Textual) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Description of debt | The Company issued a convertible promissory note to London Bay VL Holding Company LLC in the principal amount of $2,003, which does not bear interest, and matures on October 9, 2018. The note is convertible at 95% of the average of the three lowest prices during the 5 days preceding conversion. The Company evaluated the convertible note's settlement provisions and determined that the voluntary conversion feature and fundamental transaction clauses met the criteria to be classified as embedded derivatives as set forth in ASC 815, Derivatives and Hedging and ASC 480, Distinguishing Liabilities from Equity. On October 9, 2017, the Company used a Monte Carlo simulation to value the settlement features. The Company ascribed a value of $282 related to the conversion feature and recorded this item on the consolidathe Company amended a convertible promissory note originally issued to London Bay VL Holding Company LLC on October 9, 2014. The amendment extended the maturity date to October 9, 2018. The amended note is in the principal amount of $2,003 and does not accrue interest. The note is convertible at 95% of the average of the three lowest prices during the 5 days preceding conversion. The Company evaluated the convertible note's settlement provisions and determined that the voluntary conversion feature and fundamental transaction clauses met the criteria to be classified as embedded derivatives as set forth in ASC 815, Derivatives and Hedging and ASC 480, Distinguishing Liabilities from Equity. On November 17, 2017, the Company used a Monte Carlo simulation to value the settlement features. The Company ascribed a value of $282 related to the conversion feature and recorded this item on the consolidated balance sheets as a derivative liability.ted balance sheets as a derivative liability. On December 31, 2017, the Company used a Monte Carlo simulation to value the settlement features of the convertible note and determined the fair value to be $190. The Company recorded a gain on fair value of derivative instruments of $92 for the year ended December 31, 2017 on the consolidated statement of operations. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
WV VL Holding Corp November 17, 2017 Convertible Promissory Note [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Derivative Liability (Textual) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Description of debt | The Company amended a convertible promissory note originally issued to WV VL Holding Corp on October 9, 2014. The amendment extended the maturity date to October 9, 2018. The amended note is in the principal amount of $2,005 and does not accrue interest. The note is convertible at 95% of the average of the three lowest prices during the 5 days preceding conversion. The Company evaluated the convertible note's settlement provisions and determined that the voluntary conversion feature and fundamental transaction clauses met the criteria to be classified as embedded derivatives as set forth in ASC 815, Derivatives and Hedging and ASC 480, Distinguishing Liabilities from Equity. On November 17, 2017, the Company used a Monte Carlo simulation to value the settlement features. The Company ascribed a value of $282 related to the conversion feature and recorded this item on the consolidated balance sheets as a derivative liability. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
August 6, 2015 Demand Promissory Note [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Derivative Liability (Textual) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair value of derivative liability | $ 0 | 163,000 | $ 0 | $ 163,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of warrants issued to purchase common stock | 176 | 176 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Gain on fair value of derivative | $ 176,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Promissory note interest rate | 12.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity date of notes | Jul. 6, 2017 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share price of notes payable | $ 800 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Principal and interest amount | $ 2,105,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest rate | 12.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Midmarket Warrants [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Derivative Liability (Textual) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Increased percentage of common stock issuable upon warrant exercises | 11.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Exercise price of warrants | $ 2,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of shares for warrants exercisable | 586 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Derivative Liabilities | $ 194,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Gain on fair value of derivative | 211,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
31 Group Promissory Note Warrants [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Derivative Liability (Textual) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Agreement commencing date | Jul. 1, 2014 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
31 Group, LLC October Warrants [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Derivative Liability (Textual) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Agreement commencing date | Oct. 8, 2014 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
31 Group, LLC April 2015 Warrants [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Derivative Liability (Textual) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair value of warrant | 2,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair value of derivative liability | $ 15,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Exercise price | $ 5 | $ 5 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair value of embedded derivative liability | $ 11,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Bridge Financing Agreement Warrants [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Derivative Liability (Textual) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Derivative Liabilities | $ 421,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Bridge Financing Agreement Warrants [Member] | Minimum [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Derivative Liability (Textual) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Exercise price | $ 3.75 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Bridge Financing Agreement Warrants [Member] | Maximum [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Derivative Liability (Textual) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Exercise price | 5 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Bridge Financing Agreement Warrants 1 [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Derivative Liability (Textual) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair value of derivative liability | $ 31,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Change in fair value of derivative liability recorded as net gain | $ 44,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Gain on debt extinguishment | 31,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Smithline Senior Convertible Note Embedded Features [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Derivative Liability (Textual) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair value of derivative liability | 0 | 0 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Gain on fair value of derivative | 85,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair value of embedded conversion feature | $ 131,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Promissory note interest rate | 12.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity date of notes | Jan. 11, 2017 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
ICG [Member] | Warrants [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Derivative Liability (Textual) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of warrants issued to purchase common stock | 2 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Equity interest percentage | 50.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Gross proceeds from issuance of warrants | $ 3,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
JGB (Cayman) Waltham Ltd. [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Derivative Liability (Textual) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Agreement commencing date | Sep. 1, 2016 | Jun. 23, 2016 | May 23, 2016 | May 17, 2016 | Dec. 29, 2015 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Exercise price of warrants | $ 16 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair value of warrant | $ 2,015,000 | 533,000 | 2,015,000 | 533,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Derivative Liabilities | $ 1,200,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Derivative financial instruments | 349,000 | 349,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Description of volatility rate | a) $16.00 and (b) 80% of the lowest VWAP of our common stock for the prior 30 days thereafter. On February 28, 2017, the Company used a binomial lattice calculation to value the warrants. The Company ascribed a value of $65 related to the warrants and recorded this item on the consolidated balance sheets as a derivative liability. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair value of derivative liability | 163,000 | 119,000 | 163,000 | 119,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Change in fair value of derivative liability recorded as net gain | 3,173,000 | 69,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair value of the warrants | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Gain on fair value of derivative | 44,000 | 1,081,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loss on fair value of derivative | $ 1,552,000 | $ 1,482,000 | $ 486,000 | $ 41,000 | $ 1,154,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued to the sellers | 224,747 | 63,282 | 106,425 | 373,438 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Gross proceeds from issuance of warrants | $ 7,500,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair value of embedded conversion feature | $ 1,479,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Promissory note interest rate | 10.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity date of notes | Nov. 28, 2018 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Principal and interest amount | $ 1,000,000 | $ 7,500,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issuance of shares of common stock | 172,552 | 76,165 | 62,261 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
JGB (Cayman) Waltham Ltd. [Member] | Warrants [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Derivative Liability (Textual) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair value of warrant | $ 258,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Change in fair value of derivative liability recorded as net gain | 26,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share price of notes payable | $ 1.75 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Monte Carlo [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Derivative Liability (Textual) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Derivative Liabilities | $ 250,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair value of derivative liability | $ 63,000 | $ 78,000 | 63,000 | 78,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Change in fair value of derivative liability recorded as net gain | 15,000 | 164,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loss on fair value of derivative | $ 20,000 | 87,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share price of notes payable | [1] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Description of debt | (i) $16.00 or (ii) 80% of the lowest VWAP in the 30 trading days prior to the conversion date. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value of Common Stock | $ 1,963,000 | $ 1,174,000 | $ 1,963,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Forward Investments Llc [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Derivative Liability (Textual) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Derivative Liabilities | $ 3,380,000 | $ 310,000 | 3,780,000 | $ 8,370,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of warrants issued to purchase common stock | 1,875 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Change in fair value of derivative liability recorded as net gain | $ 2,600,000 | $ 4,140,000 | $ 2,310,000 | 406,000 | 12,743,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amount for working capital | $ 1,800,000 | $ 1,200,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair value of embedded conversion feature | $ 8,860,000 | $ 8,860,000 | 7,640,000 | 348,000 | 791,000 | $ 8,410,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair value of embedded derivative liability | $ 120,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Promissory note interest rate | 2.00% | 10.00% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity date of notes | Jun. 30, 2015 | Jun. 30, 2015 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share price of notes payable | $ 1,572 | $ 632 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loss on debt discount | $ 2,385,000 | $ 2,385,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Decrease in conversion price | $ 312 | $ 500 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Terms of conversion feature of debt | On October 22, 2014, the two convertible loan agreements were modified to reduce the initial conversion price of $6.36 to $3.93. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt discount | $ 6,475,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issuance of shares of common stock | 917,475 | 529,959 | 601,354 | 446,412 | 207,599 | 118,814 | 78,490 | 31,809 | 9,973 | 5,633 | 9,911 | 2,318 | 1,984 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Forward Investments Llc [Member] | 6.5% convertible notes [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Derivative Liability (Textual) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Additional debt discount | 260,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Forward Investments Llc [Member] | 3% convertible notes [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Derivative Liability (Textual) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Additional debt discount | $ 1,970,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
GPB Life Science Holdings LLC [Member] | Warrants [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Derivative Liability (Textual) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Exercise price of warrants | $ 3.75 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of shares of common stock issuable upon exercise of warrants | 200,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Description of debt | <font style="font: 10pt/normal 'times new roman', times, serif; font-size-adjust: none; font-stretch: normal;">The Company determined the fair value of these warrants as of March 31, 2017 to be as follows:</font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0pt 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; orphans: 2; widows: 2; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial;"><font style="font: 10pt/normal 'times new roman', times, serif; font-size-adjust: none; font-stretch: normal;"> </font></p><table style="font: 10pt/normal 'times new roman', times, serif; width: 1567px; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; orphans: 2; widows: 2; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial;" cellspacing="0" cellpadding="0"><tr style="font: 10pt/normal 'times new roman', times, serif; vertical-align: top; font-size-adjust: none; font-stretch: normal;"><td style="font: 10pt/normal 'times new roman', times, serif; width: 48px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font: 10pt/normal 'times new roman', times, serif; font-size-adjust: none; font-stretch: normal;"> </font></td><td style="font: 10pt/normal 'times new roman', times, serif; width: 28px; font-size-adjust: none; font-stretch: normal;"><font style="font: 10pt/normal 'times new roman', times, serif; font-size-adjust: none; font-stretch: normal;">●</font></td><td style="font: 10pt/normal 'times new roman', times, serif; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font: 10pt/normal 'times new roman', times, serif; font-size-adjust: none; font-stretch: normal;">De minimis for GPB Warrant-1, GPB Warrant-2, and GPB Warrant-3;</font></td></tr><tr style="font: 10pt/normal 'times new roman', times, serif; vertical-align: top; font-size-adjust: none; font-stretch: normal;"><td style="font: 10pt/normal 'times new roman', times, serif; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font: 10pt/normal 'times new roman', times, serif; font-size-adjust: none; font-stretch: normal;"> </font></td><td style="font: 10pt/normal 'times new roman', times, serif; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font: 10pt/normal 'times new roman', times, serif; font-size-adjust: none; font-stretch: normal;"> </font></td><td style="font: 10pt/normal 'times new roman', times, serif; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font: 10pt/normal 'times new roman', times, serif; font-size-adjust: none; font-stretch: normal;"> </font></td></tr><tr style="font: 10pt/normal 'times new roman', times, serif; vertical-align: top; font-size-adjust: none; font-stretch: normal;"><td style="font: 10pt/normal 'times new roman', times, serif; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font: 10pt/normal 'times new roman', times, serif; font-size-adjust: none; font-stretch: normal;"> </font></td><td style="font: 10pt/normal 'times new roman', times, serif; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font: 10pt/normal 'times new roman', times, serif; font-size-adjust: none; font-stretch: normal;">●</font></td><td style="font: 10pt/normal 'times new roman', times, serif; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font: 10pt/normal 'times new roman', times, serif; font-size-adjust: none; font-stretch: normal;">$2 for the 8760 Enterprises, Inc. warrant; and</font></td></tr><tr style="font: 10pt/normal 'times new roman', times, serif; vertical-align: top; font-size-adjust: none; font-stretch: normal;"><td style="font: 10pt/normal 'times new roman', times, serif; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font: 10pt/normal 'times new roman', times, serif; font-size-adjust: none; font-stretch: normal;"> </font></td><td style="font: 10pt/normal 'times new roman', times, serif; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font: 10pt/normal 'times new roman', times, serif; font-size-adjust: none; font-stretch: normal;"> </font></td><td style="font: 10pt/normal 'times new roman', times, serif; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font: 10pt/normal 'times new roman', times, serif; font-size-adjust: none; font-stretch: normal;"> </font></td></tr><tr style="font: 10pt/normal 'times new roman', times, serif; vertical-align: top; font-size-adjust: none; font-stretch: normal;"><td style="font: 10pt/normal 'times new roman', times, serif; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font: 10pt/normal 'times new roman', times, serif; font-size-adjust: none; font-stretch: normal;"> </font></td><td style="font: 10pt/normal 'times new roman', times, serif; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font: 10pt/normal 'times new roman', times, serif; font-size-adjust: none; font-stretch: normal;">●</font></td><td style="font: 10pt/normal 'times new roman', times, serif; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font: 10pt/normal 'times new roman', times, serif; font-size-adjust: none; font-stretch: normal;">$33 for the JGB warrant.</font></td></tr></table><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0pt 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; orphans: 2; widows: 2; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial;"><font style="font: 10pt/normal 'times new roman', times, serif; font-size-adjust: none; font-stretch: normal;"> </font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0pt 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; orphans: 2; widows: 2; font-size-adjust: none; font-stretch: normal;
-webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial;"><font style="font: 10pt/normal 'times new roman', times, serif; font-size-adjust: none; font-stretch: normal;">On June 27, 2017, the 8760 Enterprises, Inc. warrant was cancelled. The Company used a binomial lattice pricing model to value the settlement features of this equity warrant as of June 27, 2017 and determined the fair value to be $0. The Company recorded the change in fair value in the consolidated statement of operations as a gain of $2.</font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0pt 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; orphans: 2; widows: 2; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial;"><font style="font: 10pt/normal 'times new roman', times, serif; font-size-adjust: none; font-stretch: normal;"> </font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0pt 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; orphans: 2; widows: 2; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial;"><font style="font: 10pt/normal 'times new roman', times, serif; font-size-adjust: none; font-stretch: normal;">On July 12, 2017, as a result of the one-for-four reverse split of the Company’s common stock, the Company had sufficient authorized shares for the existing equity warrants to qualify as equity. The Company reclassified these warrants to equity at their fair value as of July 12, 2017.</font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0pt 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; orphans: 2; widows: 2; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial;"><font style="font: 10pt/normal 'times new roman', times, serif; font-size-adjust: none; font-stretch: normal;"> </font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0pt 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; orphans: 2; widows: 2; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial;"><font style="font: 10pt/normal 'times new roman', times, serif; font-size-adjust: none; font-stretch: normal;">The Company determined the fair value of these warrants as of July 12, 2017 to be as follows:</font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0pt 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; orphans: 2; widows: 2; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial;"><font style="font: 10pt/normal 'times new roman', times, serif; font-size-adjust: none; font-stretch: normal;"> </font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0pt 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; orphans: 2; widows: 2; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial;"><font style="font: 10pt/normal 'times new roman', times, serif; font-size-adjust: none; font-stretch: normal;">On June 30, 2017, the Company used a binomial lattice pricing model to value the settlement features of the remaining equity warrants and determined the fair value to be as follows:</font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0pt 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; orphans: 2; widows: 2; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial;"><font style="font: 10pt/normal 'times new roman', times, serif; font-size-adjust: none; font-stretch: normal;"> </font></p><table style="font: 10pt/normal 'times new roman', times, serif; width: 1567px; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; orphans: 2; widows: 2; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial;" cellspacing="0" cellpadding="0"><tr style="font: 10pt/normal 'times new roman', times, serif; vertical-align: top; font-size-adjust: none; font-stretch: normal;"><td style="font: 10pt/normal 'times new roman', times, serif; width: 48px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font: 10pt/normal 'times new roman', times, serif; font-size-adjust: none; font-stretch: normal;"> </font></td><td style="font: 10pt/normal 'times new roman', times, serif; width: 28px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font: 10pt/normal 'times new roman', times, serif; font-size-adjust: none; font-stretch: normal;">●</font></td><td style="font: 10pt/normal 'times new roman', times, serif; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font: 10pt/normal 'times new roman', times, serif; font-size-adjust: none; font-stretch: normal;">De minimis for GPB Warrant-1, GPB Warrant-2, and GPB Warrant-3;</font></td></tr><tr style="font: 10pt/normal 'times new roman', times, serif; vertical-align: top; font-size-adjust: none; font-stretch: normal;"><td style="font: 10pt/normal 'times new roman', times, serif; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font: 10pt/normal 'times new roman', times, serif; font-size-adjust: none; font-stretch: normal;"> </font></td><td style="font: 10pt/normal 'times new roman', times, serif; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font: 10pt/normal 'times new roman', times, serif; font-size-adjust: none; font-stretch: normal;"> </font></td><td style="font: 10pt/normal 'times new roman', times, serif; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font: 10pt/normal 'times new roman', times, serif; font-size-adjust: none; font-stretch: normal;"> </font></td></tr><tr style="font:
10pt/normal 'times new roman', times, serif; vertical-align: top; font-size-adjust: none; font-stretch: normal;"><td style="font: 10pt/normal 'times new roman', times, serif; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font: 10pt/normal 'times new roman', times, serif; font-size-adjust: none; font-stretch: normal;"> </font></td><td style="font: 10pt/normal 'times new roman', times, serif; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font: 10pt/normal 'times new roman', times, serif; font-size-adjust: none; font-stretch: normal;">●</font></td><td style="font: 10pt/normal 'times new roman', times, serif; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font: 10pt/normal 'times new roman', times, serif; font-size-adjust: none; font-stretch: normal;">$7 for the JGB warrant.</font></td></tr></table><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0pt 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; orphans: 2; widows: 2; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial;"><font style="font: 10pt/normal 'times new roman', times, serif; font-size-adjust: none; font-stretch: normal;"> </font></p></div>" id="sjs-AF252"><div><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0pt 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; orphans: 2; widows: 2; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial;"><font style="font: 10pt/normal 'times new roman', times, serif; font-size-adjust: none; font-stretch: normal;">The Company determined the fair value of these warrants as of March 31, 2017 to be as follows:</font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0pt 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; orphans: 2; widows: 2; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial;"><font style="font: 10pt/normal 'times new roman', times, serif; font-size-adjust: none; font-stretch: normal;"> </font></p><table style="font: 10pt/normal 'times new roman', times, serif; width: 1567px; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; orphans: 2; widows: 2; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial;" cellspacing="0" cellpadding="0"><tr style="font: 10pt/normal 'times new roman', times, serif; vertical-align: top; font-size-adjust: none; font-stretch: normal;"><td style="font: 10pt/normal 'times new roman', times, serif; width: 48px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font: 10pt/normal 'times new roman', times, serif; font-size-adjust: none; font-stretch: normal;"> </font></td><td style="font: 10pt/normal 'times new roman', times, serif; width: 28px; font-size-adjust: none; font-stretch: normal;"><font style="font: 10pt/normal 'times new roman', times, serif; font-size-adjust: none; font-stretch: normal;">●</font></td><td style="font: 10pt/normal 'times new roman', times, serif; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font: 10pt/normal 'times new roman', times, serif; font-size-adjust: none; font-stretch: normal;">De minimis for GPB Warrant-1, GPB Warrant-2, and GPB Warrant-3;</font></td></tr><tr style="font: 10pt/normal 'times new roman', times, serif; vertical-align: top; font-size-adjust: none; font-stretch: normal;"><td style="font: 10pt/normal 'times new roman', times, serif; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font: 10pt/normal 'times new roman', times, serif; font-size-adjust: none; font-stretch: normal;"> </font></td><td style="font: 10pt/normal 'times new roman', times, serif; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font: 10pt/normal 'times new roman', times, serif; font-size-adjust: none; font-stretch: normal;"> </font></td><td style="font: 10pt/normal 'times new roman', times, serif; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font: 10pt/normal 'times new roman', times, serif; font-size-adjust: none; font-stretch: normal;"> </font></td></tr><tr style="font: 10pt/normal 'times new roman', times, serif; vertical-align: top; font-size-adjust: none; font-stretch: normal;"><td style="font: 10pt/normal 'times new roman', times, serif; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font: 10pt/normal 'times new roman', times, serif; font-size-adjust: none; font-stretch: normal;"> </font></td><td style="font: 10pt/normal 'times new roman', times, serif; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font: 10pt/normal 'times new roman', times, serif; font-size-adjust: none; font-stretch: normal;">●</font></td><td style="font: 10pt/normal 'times new roman', times, serif; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font: 10pt/normal 'times new roman', times, serif; font-size-adjust: none; font-stretch: normal;">$2 for the 8760 Enterprises, Inc. warrant; and</font></td></tr><tr style="font: 10pt/normal 'times new roman', times, serif; vertical-align: top; font-size-adjust: none; font-stretch: normal;"><td style="font: 10pt/normal 'times new roman', times, serif; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font: 10pt/normal 'times new roman', times, serif; font-size-adjust: none; font-stretch: normal;"> </font></td><td style="font: 10pt/normal 'times new roman', times, serif; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font: 10pt/normal 'times new roman', times, serif; font-size-adjust: none; font-stretch: normal;"> </font></td><td style="font: 10pt/normal 'times new roman', times, serif; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font: 10pt/normal 'times new roman', times, serif; font-size-adjust: none; font-stretch: normal;"> </font></td></tr><tr style="font: 10pt/normal 'times new roman', times, serif; vertical-align: top; font-size-adjust: none; font-stretch: normal;"><td style="font: 10pt/normal 'times new roman', times, serif; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font: 10pt/normal 'times new roman', times, serif; font-size-adjust: none; font-stretch: normal;"> </font></td><td style="font: 10pt/normal 'times new roman', times, serif; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font: 10pt/normal 'times new roman', times, serif; font-size-adjust: none; font-stretch: normal;">●</font></td><td style="font: 10pt/normal 'times new roman', times, serif; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font: 10pt/normal 'times new roman', times, serif; font-size-adjust: none; font-stretch: normal;">$33 for the JGB warrant.</font></td></tr></table><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0pt 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; orphans: 2; widows: 2; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial;"><font style="font: 10pt/normal 'times new roman', times, serif; font-size-adjust: none; font-stretch: normal;"> </font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0pt 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; orphans: 2; widows: 2; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial;"><font style="font: 10pt/normal 'times new roman', times, serif; font-size-adjust: none; font-stretch: normal;">On June 27, 2017, the 8760 Enterprises, Inc. warrant was cancelled. The Company used a binomial lattice pricing model to value the settlement features of this equity warrant as of June 27, 2017 and determined the fair value to be $0. The Company recorded the change in fair value in the consolidated statement of operations as a gain of $2.</font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0pt 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; orphans: 2; widows: 2; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial;"><font style="font: 10pt/normal 'times new roman', times, serif; font-size-adjust: none; font-stretch: normal;"> </font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0pt 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; orphans: 2; widows: 2; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial;"><font style="font: 10pt/normal 'times new roman', times, serif; font-size-adjust: none; font-stretch: normal;">On July 12, 2017, as a result of the one-for-four reverse split of the Company’s common stock, the Company had sufficient authorized shares for the existing equity warrants to qualify as equity. The Company reclassified these warrants to equity at their fair value as of July 12, 2017.</font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0pt 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; orphans: 2; widows: 2; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial;"><font style="font: 10pt/normal 'times new roman', times, serif; font-size-adjust: none; font-stretch: normal;"> </font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0pt 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; orphans: 2; widows: 2; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial;"><font style="font: 10pt/normal 'times new roman', times, serif; font-size-adjust: none; font-stretch: normal;">The Company determined the fair value of these warrants as of July 12, 2017 to be as follows:</font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0pt 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; orphans: 2; widows: 2; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial;"><font style="font: 10pt/normal 'times new roman', times, serif; font-size-adjust: none; font-stretch: normal;"> </font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0pt 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; orphans: 2; widows: 2; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial;"><font style="font: 10pt/normal 'times new roman', times, serif; font-size-adjust: none; font-stretch: normal;">On June 30, 2017, the Company used a binomial lattice pricing model to value the settlement features of the remaining equity warrants and determined the fair value to be as follows:</font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0pt 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; orphans: 2; widows: 2; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial;"><font style="font: 10pt/normal 'times new roman', times, serif; font-size-adjust: none; font-stretch: normal;"> </font></p><table style="font: 10pt/normal 'times new roman', times, serif; width: 1567px; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; orphans: 2; widows: 2; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial;" cellspacing="0" cellpadding="0"><tr style="font: 10pt/normal 'times new roman', times, serif; vertical-align: top; font-size-adjust: none; font-stretch: normal;"><td style="font: 10pt/normal 'times new roman', times, serif; width: 48px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font: 10pt/normal 'times new roman', times, serif; font-size-adjust: none; font-stretch: normal;"> </font></td><td style="font: 10pt/normal 'times new roman', times, serif; width: 28px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font: 10pt/normal 'times new roman', times, serif; font-size-adjust: none; font-stretch: normal;">●</font></td><td style="font: 10pt/normal 'times new roman', times, serif; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font: 10pt/normal 'times new roman', times, serif; font-size-adjust: none; font-stretch: normal;">De minimis for GPB Warrant-1, GPB Warrant-2, and GPB Warrant-3;</font></td></tr><tr style="font: 10pt/normal 'times new roman', times, serif; vertical-align: top; font-size-adjust: none; font-stretch: normal;"><td style="font: 10pt/normal 'times new roman', times, serif; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font: 10pt/normal 'times new roman', times, serif; font-size-adjust: none; font-stretch: normal;"> </font></td><td style="font: 10pt/normal 'times new roman', times, serif; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font: 10pt/normal 'times new roman', times, serif; font-size-adjust: none; font-stretch: normal;"> </font></td><td style="font: 10pt/normal 'times new roman', times, serif; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font: 10pt/normal 'times new roman', times, serif; font-size-adjust: none; font-stretch: normal;"> </font></td></tr><tr style="font: 10pt/normal 'times new roman', times, serif; vertical-align: top; font-size-adjust: none; font-stretch: normal;"><td style="font: 10pt/normal 'times new roman', times, serif; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font: 10pt/normal 'times new roman', times, serif; font-size-adjust: none; font-stretch: normal;"> </font></td><td style="font: 10pt/normal 'times new roman', times, serif; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font: 10pt/normal 'times new roman', times, serif; font-size-adjust: none; font-stretch: normal;">●</font></td><td style="font: 10pt/normal 'times new roman', times, serif; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font: 10pt/normal 'times new roman', times, serif; font-size-adjust: none; font-stretch: normal;">$7 for the JGB warrant.</font></td></tr></table><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0pt 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; orphans: 2; widows: 2; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial;"><font style="font: 10pt/normal 'times new roman', times, serif; font-size-adjust: none; font-stretch: normal;"> </font></p></div> | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net Settlement Of Accounts Payable [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Derivative Liability (Textual) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Exercise price of warrants | $ 0.001 | $ 0.55 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of shares for warrants exercisable | 425,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of shares of common stock issuable upon exercise of warrants | 425,000 | 80,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair value of warrant | $ 460,000 | 460,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Derivative financial instruments | $ 743,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrant derivatives fair value on date of issuance / Warrant derivatives fair value and fair value of conversion feature on date of issuance | $ 743,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair value of derivative liability | $ 30,000 | 234,000 | $ 152,000 | 234,000 | 152,000 | $ 674,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of warrants issued to purchase common stock | 6,250 | 287,001 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loss on fair value of derivative | 84,000 | 152,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants issued to purchase common stock | 300,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants exercisable period | 1 year | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accounts Payable | $ 452,000 | $ 1,417,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
JGB (Cayman) Concord Ltd. Senior Secured Convertible Note [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Derivative Liability (Textual) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Agreement commencing date | Sep. 1, 2016 | Jun. 23, 2016 | May 23, 2016 | May 17, 2016 | Feb. 18, 2016 | Feb. 17, 2016 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Derivative Liabilities | $ 280,000 | $ 1,350,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Derivative financial instruments | 1,752,000 | 1,752,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Change in fair value of derivative liability recorded as net gain | $ 814,000 | 819,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Gain on fair value of derivative | 390,000 | 397,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loss on fair value of derivative | $ 1,308,000 | $ 924,000 | $ 79,000 | $ 2,196,000 | 539,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock issued pursuant to purchase agreement | 2,250 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair value of embedded conversion feature | 7,000 | $ 397,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Promissory note interest rate | 8.25% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Principal and interest amount | $ 11,601,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock price per share | $ 376 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Series E Preferred Stock [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Derivative Liability (Textual) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock price per share | $ 1,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Series K Preferred Stock [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Derivative Liability (Textual) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Derivative Liabilities | 15,748,000 | 15,748,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Gain on fair value of derivative | 1,501,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair value of embedded conversion feature | 15,748,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value of Common Stock | 14,247,000 | 14,247,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issuance of shares of common stock | 1,512 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Percentage of lower price | 3.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Weighted average trading price | $ 95 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Series L Preferred Stock | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Derivative Liability (Textual) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Derivative Liabilities | 1,664,000 | 1,664,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loss on fair value of derivative | 79,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair value of embedded conversion feature | 1,664,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value of Common Stock | 1,743,000 | 1,743,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issuance of shares of common stock | 227 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Percentage of lower price | 105.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Series M Preferred Stock [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Derivative Liability (Textual) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Derivative Liabilities | 3,015,000 | 3,015,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair value of derivative liability | 6,000 | 6,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loss on fair value of derivative | 6,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest rate | 105.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value of Common Stock | $ 3,021,000 | $ 3,021,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issuance of shares of common stock | 386 | 386 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Percentage of lower price | 105.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[1] | The conversion price per share is equal to 75% of the lowest VWAP during the fifteen trading days immediately prior to the conversion date. |
Income Taxes (Details)
Income Taxes (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Summary of pre-tax loss | ||
Domestic | $ (35,923) | $ (20,678) |
Foreign | (8,082) | 85 |
Pre-tax Loss | $ (44,005) | $ (20,593) |
Income Taxes (Details 1)
Income Taxes (Details 1) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Summary of provision for benefit from income taxes | ||
Federal | ||
State | 102 | 81 |
Foreign | 10 | 13 |
Total current | 112 | 94 |
Deferred: | ||
Federal | (690) | 100 |
State | (94) | 13 |
Total deferred | (784) | 113 |
Total provision for (benefit from) income taxes | $ (672) | $ 207 |
Income Taxes (Details 2)
Income Taxes (Details 2) | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Summary of effective tax rate differed from the U.S. federal statutory rate | ||
Federal tax benefit at statutory rate | (34.00%) | (34.00%) |
Permanent differences | 47.60% | 120.40% |
State tax benefit, net of Federal benefits | (14.60%) | (4.40%) |
Other | 4.10% | 2.20% |
Effect of foreign income taxed in rates other than the U.S. Federal statutory rate | 1.50% | 0.10% |
Net change in valuation allowance | (7.10%) | (83.40%) |
Foreign tax credits | (0.10%) | |
Benefit | (2.50%) | 0.80% |
Income Taxes (Details 3)
Income Taxes (Details 3) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Summary of deferred tax assets and liabilities | ||
Net operating loss carry forwards | $ 19,396 | $ 6,582 |
Depreciation | 163 | 151 |
Accruals and reserves | 1,401 | 721 |
Capital loss carry forwards | 74 | 74 |
Credits | 3 | 3 |
Stock-based compensation | 3,882 | 3,297 |
Total assets | 24,919 | 10,828 |
Convertible Debt | (1,264) | (1,264) |
Intangible assets | (239) | (2,116) |
Total liabilities | (1,503) | (3,380) |
Less: Valuation allowance | (23,655) | (8,450) |
Net deferred tax liabilities | $ (239) | $ (1,002) |
Income Taxes (Details Textual)
Income Taxes (Details Textual) - USD ($) $ in Thousands | Dec. 22, 2017 | Dec. 31, 2017 | Dec. 31, 2016 |
Income Taxes (Textual) | |||
Expiration date for tax operating loss carryforwards | Dec. 31, 2025 | ||
Federal tax credit carryforwards | $ 3 | $ 3 | |
Expiration date description for federal credits | These credits begin to expire in 2022. | ||
Description of ownership percentage changes | In general, an ownership change occurs whenever the percentage of the shares of a corporation owned, directly or indirectly, by 5-percent shareholders, as defined in Section 382 of the Code, increases by more than 50 percentage points over the lowest percentage of the shares of such corporation owned, directly or indirectly, by such 5-percent shareholders at any time over the preceding three years. | ||
Federal net operating loss carryforwards | $ 24,242 | 11,428 | |
State net operating loss carryforwards | 48,241 | 35,534 | |
Net tax benefit | 672 | (207) | |
Foreign net income | 277 | ||
Cumulative foreign earnings | 1,196 | ||
Potential liability | 165 | ||
Foreign net operating loss carryforward | 120 | ||
Valuation allowance | $ 23,655 | $ 8,450 | |
U.S. government [Member] | |||
Income Taxes (Textual) | |||
Deferred tax assets and deferred tax liabilities | $ 96 | ||
Valuation allowance | $ 96 | ||
Corporate income tax rate, percentage | 21.00% |
Concentrations of Credit Risk_2
Concentrations of Credit Risk (Details) | 12 Months Ended |
Dec. 31, 2017 | |
Revenues [Member] | |
Summary of concentrations of significant customers | |
Concentration risk percentage | 10.00% |
Uline [Member] | Accounts Receivable [Member] | Customer Concentration Risk [Member] | |
Summary of concentrations of significant customers | |
Concentration risk percentage | 4.00% |
Uline [Member] | Revenues [Member] | Customer Concentration Risk [Member] | |
Summary of concentrations of significant customers | |
Concentration risk percentage | 17.00% |
Ericsson Inc [Member] | Accounts Receivable [Member] | Customer Concentration Risk [Member] | |
Summary of concentrations of significant customers | |
Concentration risk percentage | 16.00% |
Ericsson Inc [Member] | Revenues [Member] | Customer Concentration Risk [Member] | |
Summary of concentrations of significant customers | |
Concentration risk percentage | 11.00% |
At And T Inc [Member] | Accounts Receivable [Member] | Customer Concentration Risk [Member] | |
Summary of concentrations of significant customers | |
Concentration risk percentage | 11.00% |
At And T Inc [Member] | Revenues [Member] | Customer Concentration Risk [Member] | |
Summary of concentrations of significant customers | |
Concentration risk percentage | 11.00% |
Concentrations of Credit Risk_3
Concentrations of Credit Risk (Details Textual) - Revenues [Member] | 12 Months Ended |
Dec. 31, 2017customer | |
Concentration Risk [Line Items] | |
Concentration risk percentage | 10.00% |
Number of customers | 3 |
Commitments and Contingencies_2
Commitments and Contingencies (Details) $ in Thousands | Dec. 31, 2017USD ($) |
Summary of future minimum lease obligation | |
2,018 | $ 95 |
2,019 | 97 |
2,020 | 57 |
Total | $ 249 |
Commitments and Contingencies_3
Commitments and Contingencies (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Commitments and Contingencies (Textual) | ||
Lease rental expenses | $ 441 | $ 692 |
Lease expiration period | Various dates through 2020. | |
Period of renewal option of agreements | One to five years |
Stockholders' Deficit (Details)
Stockholders' Deficit (Details) | Nov. 10, 2017USD ($)$ / sharesshares | Oct. 12, 2017USD ($)$ / sharesshares | Sep. 01, 2016USD ($)shares | Jan. 22, 2016shares | May 31, 2015USD ($)shares | May 15, 2015USD ($)shares | May 14, 2015USD ($)$ / sharesshares | Feb. 27, 2015USD ($)shares | Mar. 19, 2014shares | Feb. 03, 2014shares | Nov. 05, 2013USD ($)$ / sharesshares | Jan. 14, 2010shares | Feb. 22, 2018 | Dec. 31, 2017USD ($)$ / sharesshares | Nov. 30, 2017USD ($)$ / sharesshares | Oct. 31, 2017USD ($)$ / sharesshares | Sep. 30, 2017USD ($)$ / sharesshares | Aug. 31, 2017USD ($)$ / sharesshares | Jul. 31, 2017USD ($)$ / sharesshares | Jul. 25, 2017USD ($)shares | Mar. 31, 2017USD ($)$ / sharesshares | Feb. 28, 2017USD ($)$ / sharesshares | Jan. 31, 2017USD ($)$ / sharesshares | Dec. 31, 2016USD ($)$ / sharesshares | Nov. 30, 2016USD ($)$ / sharesshares | Oct. 31, 2016USD ($)$ / sharesshares | Sep. 30, 2016USD ($)$ / sharesshares | Aug. 31, 2016USD ($)$ / sharesshares | Jul. 31, 2016USD ($)$ / sharesshares | Jun. 30, 2016USD ($)Employees$ / sharesshares | Jun. 23, 2016USD ($)$ / shares | May 31, 2016USD ($)$ / sharesshares | Apr. 30, 2016USD ($)$ / sharesshares | Mar. 31, 2016USD ($)Employees$ / sharesshares | Feb. 29, 2016USD ($)$ / sharesshares | Jan. 31, 2016USD ($)$ / sharesshares | Dec. 29, 2015USD ($) | Nov. 30, 2015$ / sharesshares | Oct. 31, 2015USD ($)$ / sharesshares | Aug. 31, 2015USD ($)$ / sharesshares | Jul. 30, 2015USD ($)$ / sharesshares | Jun. 30, 2015USD ($)$ / sharesshares | May 30, 2015USD ($)$ / sharesshares | Apr. 30, 2015USD ($)$ / sharesshares | Mar. 31, 2015$ / sharesshares | Jan. 31, 2015USD ($)$ / sharesshares | Jul. 31, 2014USD ($)$ / sharesshares | Apr. 30, 2014$ / sharesshares | Feb. 28, 2014$ / sharesshares | Jan. 31, 2014USD ($)$ / sharesshares | Apr. 30, 2013USD ($) | Jun. 30, 2015USD ($)$ / shares | Sep. 30, 2016USD ($)$ / sharesshares | Dec. 31, 2017USD ($)$ / sharesshares | Dec. 31, 2016USD ($)$ / sharesshares | Dec. 31, 2014USD ($)$ / sharesshares | Feb. 27, 2018USD ($) | Jul. 20, 2017$ / sharesshares | Jul. 12, 2017$ / shares | Apr. 30, 2017$ / shares | Apr. 03, 2017USD ($) | Dec. 31, 2015shares | Aug. 06, 2015$ / shares | Aug. 03, 2015$ / shares | Mar. 25, 2015USD ($) | Mar. 04, 2015$ / shares | Mar. 03, 2015USD ($) | Feb. 28, 2015$ / shares | Nov. 30, 2014$ / shares | Oct. 22, 2014$ / shares | Aug. 31, 2014USD ($)$ / shares | Mar. 31, 2014$ / shares | Dec. 31, 2013USD ($)$ / shares |
Stockholders' Deficit (Textual) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of warrants issued to purchase common stock | shares | 1 | 2.53 | 1 | 625,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of warrants exercised | shares | 111,095 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issuance of shares to non-employees for services | shares | 13,000 | 5,111 | 184 | 7,500 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Salaries and wages | $ 6,412,000 | $ 13,856,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair value of price per share | $ / shares | $ 0.0001 | $ 0.0001 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issuance of shares pursuant to convertible debentures, shares | shares | 133,334 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair value of shares | $ 1,302,000 | $ 416,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loss on conversion of debt | $ 25,000 | $ 30,000 | $ 25,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issuances of shares from conversion of notes payable | $ 1,000,000 | $ 167,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issuance of shares pursuant to acquisition, Shares | shares | 11,500,000 | 400,000 | 50,000,000 | 91,241 | 400,000 | 50,861 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issuance of shares pursuant to business combinations, price per share | $ / shares | $ 5.99 | $ 13.20 | $ 16 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock issued for acquisition | $ 814,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Aggregate shares of common stock | shares | 94,905 | 192,096 | 300,000 | 1,961 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loss on extinguishment of debt | (8,857,000) | (9,587,000) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Restructuring of notes payable | $ 292,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair value of common stock | $ 92,000 | $ 2,000 | 92,000 | $ 2,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issuance of shares pursuant to smithline convertible note, shares | shares | 133,334 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issuance of shares pursuant to bridge financing provision, share | shares | 13,000 | 5,111 | 184 | 7,500 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Repurchased shares from Ian Gist Cancer Research Fund, shares | shares | 817 | 1,250 | 250 | 138 | 354 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Treasury shares par value | $ / shares | $ 0.0001 | $ 0.0001 | $ 0.0001 | $ 0.0001 | $ 0.0001 | $ 0.0001 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Related party principal amount | $ 430,000 | $ 430,000 | $ 100,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Related party, converted Interest | 220,000 | $ 3,515,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reverse stock split, description | The Company issued 126 additional shares based on rounding differences resulting from the one-for-four reverse stock split which was effective as of the open of trading on July 12, 2017. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of employees | Employees | 12 | 20 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Sdn Essential Llc [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stockholders' Deficit (Textual) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issuance of shares pursuant to acquisition, Shares | shares | 2,500 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issuance of shares pursuant to business combinations, price per share | $ / shares | $ 400 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock issued for acquisition | $ 50,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Provision for meeting revenue targets | $ 515,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Aggregate shares of common stock | shares | 125 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Restructuring of debt [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stockholders' Deficit (Textual) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair value of price per share | $ / shares | $ 2.92 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Aggregate shares of common stock | shares | 100,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Restructuring of notes payable | $ 292,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Designation Series J Preferred Stock [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stockholders' Deficit (Textual) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Preferred stock stated value | $ / shares | $ 4,916 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Percentage of total voting power | 51.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Liquidation preference amount in per share | $ / shares | $ 4,916 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Preferred stock, shares authorized | shares | 1,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Preferred stock, par value | $ / shares | $ 0.0001 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Preferred Stock, issued value | $ 1,753,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Designation Series K Preferred Stock [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stockholders' Deficit (Textual) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | $ 15,128,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issuance of common stock pursuant to acquisition of assets | $ 1,512,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Preferred stock stated value | $ / shares | $ 0.0001 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Liquidation preference amount in per share | $ / shares | $ 10,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Preferred stock, shares authorized | shares | 3,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Preferred stock, par value | $ / shares | $ 10,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Preferred Stock, issued value | $ 1,512,000 | $ 1,512,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Preferred stock, shares issued | shares | 1,512 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Percentage of lower price | 95.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Weighted average trading price | $ / shares | $ 3 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Designation Series L Preferred Stock [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stockholders' Deficit (Textual) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issuance of common stock pursuant to acquisition of assets | $ 5,430,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Preferred stock stated value | $ / shares | $ 0.0001 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Liquidation preference amount in per share | $ / shares | $ 10,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Preferred stock, shares authorized | shares | 1,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Preferred stock, par value | $ / shares | $ 10,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Preferred stock, shares issued | shares | 227 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Percentage of lower price | 105.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Designation Series M Preferred Stock [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stockholders' Deficit (Textual) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of warrants issued to purchase common stock | shares | 382,300 | 382,300 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Preferred stock stated value | $ / shares | $ 0.0001 | $ 0.0001 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Liquidation preference amount in per share | $ / shares | $ 10,000 | $ 10,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Preferred stock, shares authorized | shares | 500 | 500 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Preferred stock, par value | $ / shares | $ 10,000 | $ 10,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Preferred stock, shares issued | shares | 386 | 386 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Weighted average trading price | $ / shares | $ 105 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Employees [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stockholders' Deficit (Textual) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair value of price per share | $ / shares | $ 11.52 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Aggregate shares of common stock | shares | 128,205 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Former Owner [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stockholders' Deficit (Textual) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Sale of Stock, Price Per Share | $ / shares | $ 3.83 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Aggregate shares of common stock | shares | 79,853 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair value of common stock | $ 306,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Mark Munro [Member] | Designation Series J Preferred Stock [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stockholders' Deficit (Textual) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Preferred stock, shares issued | shares | 387 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Related party principal amount | $ 1,709,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Related party, converted Interest | $ 195,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Mark Durfee [Member] | Designation Series J Preferred Stock [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stockholders' Deficit (Textual) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Preferred stock, shares issued | shares | 613 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Related party principal amount | $ 2,550,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Related party, converted Interest | $ 464,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Board of Directors [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stockholders' Deficit (Textual) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Preferred stock, shares authorized | shares | 500 | 500 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accounts Payable [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stockholders' Deficit (Textual) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair value of price per share | $ / shares | $ 7 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cancellation of share in the form of treasury stock | shares | 300,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Public Offering [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stockholders' Deficit (Textual) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Sale of common stock | $ 3,125 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Sale of Stock, Price Per Share | $ / shares | $ 1,600 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of warrants issued to purchase common stock | shares | 1,563 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Exercise price of warrants | $ / shares | $ 4 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of warrants sold | shares | 1,563 | 1,563,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of warrants exercised | shares | 278 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Underwriting discounts and expenses | $ 4,550,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Private Placement [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stockholders' Deficit (Textual) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock issued in private placement | $ 50,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock issued in private placement, shares | shares | 25,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Bridge Financing Agreement [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stockholders' Deficit (Textual) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair value of price per share | $ / shares | $ 256 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Aggregating payment of accrued interest | $ 320,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Aggregate shares of common stock | shares | 500,000 | 1,600,000 | 1,250 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loss on extinguishment of debt | $ 847,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair value of debt extinguishment | 6,020,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Related party principal amount | $ 6,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Convertible Notes Payable [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stockholders' Deficit (Textual) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issuance of shares pursuant to convertible debentures, shares | shares | 1,262,803 | 348,164 | 1,262,803 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Conversion price per share | $ / shares | $ 3.74 | $ 6.36 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair value of shares | $ 2,289,000 | $ 1,302,000 | $ 2,289,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loss on conversion of debt | 264,000 | $ 30,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issuances of shares from conversion of notes payable | 1,000,000 | 1,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | $ 68,000 | $ 68,000 | $ 68,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share price of notes payable | $ / shares | $ 3.74 | $ 6.36 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issuance of shares pursuant to smithline convertible note, shares | shares | 1,262,803 | 348,164 | 1,262,803 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Smithline Senior Convertible Note [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stockholders' Deficit (Textual) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issuance of shares pursuant to convertible debentures, shares | shares | 150,521 | 98,386 | 68,254 | 88,532 | 73,996 | 105,835 | 199,573 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Conversion price per share | $ / shares | $ 0.38 | $ 0.48 | $ 0.69 | $ 0.54 | $ 0.65 | $ 0.46 | $ 0.38 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issuances of shares from conversion of notes payable | $ 57,000,000 | $ 47,000,000 | $ 47,000,000 | $ 48,000,000 | $ 48,000,000 | $ 49,000,000 | $ 75,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share price of notes payable | $ / shares | $ 0.38 | $ 0.48 | $ 0.69 | $ 0.54 | $ 0.65 | $ 0.46 | $ 0.38 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issuance of shares pursuant to smithline convertible note, shares | shares | 150,521 | 98,386 | 68,254 | 88,532 | 73,996 | 105,835 | 199,573 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Bridge Financing Provision [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stockholders' Deficit (Textual) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issuance of shares to non-employees for services | shares | 500,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair value of price per share | $ / shares | $ 0.64 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issuance of shares pursuant to bridge financing provision, share | shares | 500,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issuance of shares pursuant to bridge financing provision | $ 320,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsequent Event [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stockholders' Deficit (Textual) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reverse stock split, description | Issued and outstanding shares of common stock, par value $0.0001 per share, effective as of the open of trading on February 23, 2018. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsequent Event [Member] | Convertible Notes Payable [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stockholders' Deficit (Textual) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Related party principal amount | $ 150,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Minimum [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stockholders' Deficit (Textual) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Exercise price of warrants | $ / shares | $ 1.42 | $ 1.54 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loss on conversion of debt | $ 1,850 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Minimum [Member] | Private Placement [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stockholders' Deficit (Textual) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Sale of Stock, Price Per Share | $ / shares | $ 2.01 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maximum [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stockholders' Deficit (Textual) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Exercise price of warrants | $ / shares | 1.63 | $ 1.81 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loss on conversion of debt | $ 4,150 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maximum [Member] | Private Placement [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stockholders' Deficit (Textual) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Sale of Stock, Price Per Share | $ / shares | $ 1.94 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Non Employees Services [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stockholders' Deficit (Textual) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issuance of shares to non-employees for services | shares | 706 | 228 | 453 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Salaries and wages | $ 33,000 | $ 62,000 | $ 9,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair value of price per share | $ / shares | $ 232 | $ 272 | $ 208 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of shares immediately vested | shares | 143 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issuance of shares pursuant to bridge financing provision, share | shares | 706 | 228 | 453 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Related Party Debt [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stockholders' Deficit (Textual) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issuance of shares pursuant to convertible debentures, shares | shares | 1,250 | 42,553 | 219,820 | 8,306 | 243,443 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Conversion price per share | $ / shares | $ 2.23 | $ 2.55 | $ 3.38 | $ 2.55 | $ 2.76 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair value of shares | $ 117,000 | $ 490,000 | $ 21,000 | $ 823,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loss on conversion of debt | 17,000 | 35,000 | 4,000 | 283,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issuances of shares from conversion of notes payable | $ 100,000 | $ 450,000 | $ 25,000 | $ 540,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share price of notes payable | $ / shares | $ 2.23 | $ 2.55 | $ 3.38 | 2.55 | $ 2.76 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issuance of shares pursuant to smithline convertible note, shares | shares | 1,250 | 42,553 | 219,820 | 8,306 | 243,443 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
GPB Life Science Holdings, LLC [Member] | Minimum [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stockholders' Deficit (Textual) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Conversion price per share | $ / shares | 1.42 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share price of notes payable | $ / shares | 1.42 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
GPB Life Science Holdings, LLC [Member] | Maximum [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stockholders' Deficit (Textual) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Conversion price per share | $ / shares | 1.60 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share price of notes payable | $ / shares | $ 1.60 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Limited Liability Company [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stockholders' Deficit (Textual) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issuance of shares pursuant to acquisition, Shares | shares | 50,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issuance of shares pursuant to business combinations, price per share | $ / shares | $ 1 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Third Party Lender Five [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stockholders' Deficit (Textual) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total fair value | $ 731,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Third Party Lender [Member] | Extinguishment of debt [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stockholders' Deficit (Textual) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | $ 2,450 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Aggregate shares of common stock | shares | 13,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Third Party Lender [Member] | Convertible Notes Payable [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stockholders' Deficit (Textual) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair value of price per share | $ / shares | $ 6.22 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issuance of shares pursuant to convertible debentures, shares | shares | 44,025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issuances of shares from conversion of notes payable | $ 274,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | $ 17,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issuance of shares pursuant to smithline convertible note, shares | shares | 44,025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
VaultLogix [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stockholders' Deficit (Textual) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issuance of shares pursuant to acquisition, Shares | shares | 1,008,690 | 443,524 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issuance of shares pursuant to business combinations, price per share | $ / shares | $ 3.99 | $ 3.36 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
VaultLogix [Member] | Former Owner [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stockholders' Deficit (Textual) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Sale of Stock, Price Per Share | $ / shares | $ 2.92 | $ 2.92 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Aggregate shares of common stock | shares | 223,031 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair value of common stock | $ 651,000 | $ 651,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Aw Solutions [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stockholders' Deficit (Textual) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair value of price per share | $ / shares | $ 3.15 | $ 5.19 | $ 18.36 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issuances of shares from conversion of notes payable | $ 2,108,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issuance of shares pursuant to acquisition, Shares | shares | 234,159 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issuance of shares pursuant to business combinations, price per share | $ / shares | $ 2.92 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loss on extinguishment of debt | $ 79,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total fair value | $ 2,624,000 | $ 2,801,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Aw Solutions [Member] | Former Owner [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stockholders' Deficit (Textual) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Sale of Stock, Price Per Share | $ / shares | $ 1.98 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Aggregate shares of common stock | shares | 252,525 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair value of common stock | $ 500,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Dominion Capital Llc Promissory Notes [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stockholders' Deficit (Textual) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair value of price per share | $ / shares | $ 0.27 | $ 0.31 | $ 3 | $ 4 | $ 5 | $ 600 | $ 8 | $ 12 | $ 24 | $ 60 | $ 140 | $ 184 | $ 220 | $ 500 | $ 500 | $ 500 | $ 60 | $ 8 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Aggregating payment of accrued interest | $ 57,000 | $ 20,000 | $ 509,000 | $ 528,000 | $ 357,000 | $ 333,000 | $ 268,000 | $ 224,000 | $ 196,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Aggregate shares of common stock | shares | 212,718 | 63,691 | 178,119 | 133,323 | 67,502 | 56,276 | 41,241 | 16,670 | 7,756 | 5,162 | 1,509 | 1,472 | 712 | 1,007 | 1,623 | 1,167 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Aggregate common stock value | $ 267,000 | $ 224,000 | $ 196,000 | $ 287,000 | $ 207,000 | $ 283,000 | $ 156,000 | $ 289,000 | $ 590,000 | $ 583,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cancellation of shares | shares | 3,069 | 16,944 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Jgb Concord And Jgb Waltham [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stockholders' Deficit (Textual) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair value of price per share | $ / shares | $ 12 | $ 16 | $ 24 | $ 52 | $ 368 | $ 52 | $ 12 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Conversion price per share | $ / shares | $ 0.94 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loss on extinguishment of debt | $ 1,150,000 | $ 1,279,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share price of notes payable | $ / shares | $ 0.94 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issuance of shares of common stock | shares | 14,400 | 18,878 | 9,014 | 11,483 | 2,250 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair value of debt extinguishment | $ 828,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Notes payable and accrued interest | $ 191,000 | $ 301,000 | $ 226,000 | $ 586,000 | $ 586,000 | $ 191,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Related party principal amount | $ 11,601,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Related parties [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stockholders' Deficit (Textual) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair value of price per share | $ / shares | $ 320 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issuance of shares of common stock | shares | 625 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Notes payable | $ 200,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Forward Investments Llc [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stockholders' Deficit (Textual) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of warrants issued to purchase common stock | shares | 1,875 | 1,875 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair value of price per share | $ / shares | $ 0.36 | $ 0.62 | $ 1.30 | $ 2.60 | $ 7 | $ 7 | $ 7 | $ 12 | $ 20 | $ 28 | $ 60 | $ 176 | $ 220 | $ 60 | $ 12 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Conversion price per share | $ / shares | $ 632 | $ 1,572 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share price of notes payable | $ / shares | $ 632 | $ 1,572 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issuance of shares of common stock | shares | 917,475 | 529,959 | 601,354 | 446,412 | 207,599 | 118,814 | 78,490 | 31,809 | 9,973 | 5,633 | 9,911 | 2,318 | 1,984 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Notes payable | $ 331,000 | $ 790,000 | $ 1,172,000 | $ 1,365,000 | $ 867,000 | $ 582,000 | $ 439,000 | $ 182,000 | $ 156,000 | $ 620,000 | $ 396,000 | $ 446,000 | $ 620,000 | $ 439,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Ian Gist Cancer Research Fund [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stockholders' Deficit (Textual) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair value of price per share | $ / shares | $ 216 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Repurchased shares from Ian Gist Cancer Research Fund, shares | shares | 5 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Treasury shares par value | $ / shares | $ 0.0001 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Smithline Senior Convertible Promissory Note [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stockholders' Deficit (Textual) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair value of price per share | $ / shares | $ 0.75 | $ 2.70 | $ 4 | $ 5 | $ 152 | $ 192 | $ 276 | $ 216 | $ 260 | $ 184 | $ 152 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | $ 1,000 | $ 18,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Aggregating payment of accrued interest | $ 19,000 | $ 117,000 | $ 223,000 | $ 23,000 | $ 57,000 | $ 47,000 | $ 47,000 | $ 48,000 | $ 48,000 | $ 49,000 | $ 75,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Aggregate shares of common stock | shares | 25,792 | 49,415 | 53,952 | 4,577 | 377 | 246 | 171 | 222 | 185 | 265 | 499 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
JGB (Cayman) Concord Ltd. [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stockholders' Deficit (Textual) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair value of price per share | $ / shares | $ 0.50 | $ 4 | $ 6 | $ 7 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | $ 1,000 | $ 1,000 | $ 1,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Aggregating payment of accrued interest | $ 100,000 | 615,000 | 45,000 | 290,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loss on extinguishment of debt | $ 1,187,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Aggregate common stock value | $ 106,556,000 | $ 163,663,000 | 7,797,000 | $ 42,863,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Related party principal amount | $ 11,000 | $ 3,748,000 | $ 11,000 | $ 3,748,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
JGB (Cayman) Waltham Ltd. [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stockholders' Deficit (Textual) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Exercise price of warrants | $ / shares | $ 0.66 | $ 0.90 | $ 0.90 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair value of price per share | $ / shares | $ 0.18 | $ 0.32 | $ 0.90 | $ 0.90 | $ 0.18 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | $ 1,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Aggregating payment of accrued interest | $ 40,000 | $ 20,000 | $ 100,000 | $ 350,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Aggregate shares of common stock | shares | 224,747 | 63,282 | 106,425 | 373,438 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issuance of warrants | $ 7,500,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issuance of shares of common stock | shares | 172,552 | 76,165 | 62,261 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Related party principal amount | $ 1,000,000 | $ 7,500,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Outstanding warrant | $ 500,000 | $ 250,000 | $ 250,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
RDW Convertible Promissory Note [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stockholders' Deficit (Textual) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair value of price per share | $ / shares | $ 1.50 | $ 2.20 | $ 4 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | $ 4,000 | $ 20,000 | $ 1,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issuance of shares of common stock | shares | 65,785 | 206,145 | 5,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Notes payable | $ 91,000 | $ 441,000 | $ 18,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
RDW Convertible Promissory Note One [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stockholders' Deficit (Textual) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair value of price per share | $ / shares | $ 5.70 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issuance of shares of common stock | shares | 17,452 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Notes payable | $ 100,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Rdw Convertible Promissory Note Two [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stockholders' Deficit (Textual) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair value of price per share | $ / shares | $ 0.20 | $ 0.28 | $ 0.79 | $ 0.80 | $ 1.20 | $ 2 | $ 0.20 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issuance of shares of common stock | shares | 255,141 | 1,285,559 | 129,840 | 123,457 | 297,933 | 125,471 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Notes payable | $ 51,000 | $ 354,000 | $ 103,000 | $ 100,000 | $ 355,000 | $ 253,000 | $ 51,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Rdw Convertible Promissory Note Three [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stockholders' Deficit (Textual) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair value of price per share | $ / shares | $ 0.15 | $ 0.15 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issuance of shares of common stock | shares | 781,513 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Notes payable | $ 120,000 | $ 120,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrant [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stockholders' Deficit (Textual) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair value of price per share | $ / shares | $ 16.90 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Aggregate shares of common stock | shares | 94,905 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total fair value | $ 324,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Exercise price of warrants | $ / shares | $ 700 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common Stock [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stockholders' Deficit (Textual) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair value of price per share | $ / shares | $ 2.53 | $ 5.99 | $ 7.95 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Conversion price per share | $ / shares | $ 2 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Aggregate issuance of shares for payment of related party interest, shares | shares | 144,508 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Aggregating payment of accrued interest | $ 343,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Aggregate shares of common stock | shares | 3,500,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share price of notes payable | $ / shares | $ 2 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cancellation of shares | shares | (20,013) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Enterprises Inc [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stockholders' Deficit (Textual) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair value of price per share | $ / shares | $ 0.15 | $ 0.15 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Repurchased shares from Ian Gist Cancer Research Fund, shares | shares | 750,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issuance of shares pursuant to acquisition of assets of SDNE Essentials, LLC, shares | shares | 8,760 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issuance of common stock to employees, shares | shares | 900,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issuance of warrants | $ 36,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Exercise price of warrants | $ / shares | $ 2 | $ 2 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Contingent consideration | $ 334,000,000 | $ 334,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Contingent common stock value | $ 16,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Acquisition Term, years | 4 years |
Stock-Based Compensation (Detai
Stock-Based Compensation (Details) - Restricted Stock Units (RSUs) [Member] - $ / shares | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Number of Shares | ||
Number of Shares, Beginning Balance | 7,221 | 5,058 |
Number of Shares, Granted | 13,000 | 5,835 |
Number of Shares, Vested | (250) | (1,681) |
Number of Shares, Forfeited/Cancelled | (3,115) | (1,991) |
Number of Shares, Exercised | ||
Number of Shares, Ending Balance | 16,856 | 7,221 |
Weighted Average Grant Date Fair Value | ||
Weighted Average Grant Date Fair Value, Beginning Balance | $ 657.14 | $ 1,400 |
Weighted Average Grant Date Fair Value, Granted | 6.91 | 236 |
Weighted Average Grant Date Fair Value, Vested | 231 | 1,664 |
Weighted Average Grant Date Fair Value, Forfeited/Cancelled | 619.21 | 460 |
Weighted Average Grant Date Fair Value, Exercised | ||
Weighted Average Grant Date Fair Value, Ending Balance | $ 169 | $ 657.14 |
Stock-Based Compensation (Det_2
Stock-Based Compensation (Details 1) $ in Thousands | Dec. 31, 2017USD ($) |
Stock-Based Compensation [Abstract] | |
2,018 | $ 102 |
2,019 | 30 |
2,020 | 1 |
Total | $ 133 |
Stock-Based Compensation (Det_3
Stock-Based Compensation (Details 2) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Schedule of stock option activity | |||
Beginning Balance, Shares Underlying Options | 438 | ||
Ending Balance, Shares Underlying Options | 417 | 438 | |
Weighted Average Exercise Price, Exercisable | $ 12 | ||
Stock Option [Member] | |||
Schedule of stock option activity | |||
Beginning Balance, Shares Underlying Options | 438 | 438 | 175,000 |
Granted, Shares Underlying Options | |||
Forfeited and expired, Shares Underlying Options | (21) | ||
Exercised, Shares Underlying Options | |||
Ending Balance, Shares Underlying Options | 417 | 438 | 175,000 |
Exercisable, Shares Underlying Options | 417 | 417 | |
Weighted Average Exercise Price, Beginning Balance | $ 1,488 | $ 1,488 | $ 3.72 |
Weighted average exercise price, Granted | |||
Weighted Average Exercise Price, Forfeited and expired | 1,488 | ||
Weighted Average Exercise Price, Exercised | |||
Weighted Average Exercise Price, Ending Balance | 1,488 | 1,488 | $ 3.72 |
Weighted Average Exercise Price, Exercisable | $ 1,488 | $ 1,488 | |
Weighted Average Remaining Contractual Term (in years), Beginning Balance | 5 years 3 months 15 days | 6 years 3 months 15 days | |
Weighted Average Remaining Contractual Term (in years), Ending Balance | 4 years 3 months 15 days | 5 years 3 months 15 days | |
Weighted Average Remaining Contractual Term (in years), Exercisable | 4 years 3 months 15 days | 5 years 3 months 15 days | |
Beginning Balance, Aggregate Intrinsic Value | $ 646 | $ 476 | $ 140 |
Exercisable, Aggregate Intrinsic Value | 620 | 615 | |
Ending Balance, Aggregate Intrinsic Value | $ 620 | $ 646 | $ 476 |
Stock-Based Compensation (Det_4
Stock-Based Compensation (Details Textual) - USD ($) $ / shares in Units, $ in Thousands | 1 Months Ended | 3 Months Ended | 12 Months Ended | ||||||||||
Jan. 31, 2017 | Jul. 31, 2016 | Mar. 31, 2016 | Feb. 28, 2014 | Mar. 31, 2015 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Jun. 30, 2015 | Jun. 26, 2015 | Feb. 28, 2015 | Dec. 31, 2014 | Nov. 16, 2012 | |
Stock Based Compensation (Textual) | |||||||||||||
Additional compensation expense | $ 1,160 | $ 3,384 | |||||||||||
Issuance of shares to employees for services | 13,000 | 5,111 | 184 | 7,500 | |||||||||
Price per share | $ 7 | $ 272 | |||||||||||
Salaries and wages expense | $ 163 | ||||||||||||
Stock compensation expense | $ 13 | $ 85 | |||||||||||
Accrued expense | $ 50 | $ 86 | |||||||||||
Stock compensation expense | $ 70 | ||||||||||||
Aggregate intrinsic value for outstanding options | $ 0.27 | $ 12 | |||||||||||
Stock based compensation description | During the year ended December 31, 2016, the Company granted an aggregate of 5,141 shares under the 2015 performance incentive plan, of which 669 shares were subject to a 3-year vesting term, 2,448 shares were subject to 6-month vesting, 250 shares were scheduled to vest on January 1, 2017, 1,032 shares were scheduled to vest on June 30, 2017, 188 shares were scheduled to vest on December 31, 2017, and 554 shares had no vesting terms. During the year ended December 31, 2017, the Company granted an aggregate of 1,250 shares under the 2015 performance incentive plan, all of which were subject to a 3-year vesting term. | ||||||||||||
Maximum [Member] | |||||||||||||
Stock Based Compensation (Textual) | |||||||||||||
Price per share | $ 272 | $ 2.92 | |||||||||||
Minimum [Member] | |||||||||||||
Stock Based Compensation (Textual) | |||||||||||||
Price per share | $ 232 | $ 1.98 | $ 2.53 | ||||||||||
Stock Option [Member] | |||||||||||||
Stock Based Compensation (Textual) | |||||||||||||
Options granted | |||||||||||||
2012 Equity Incentive Plan [Member] | |||||||||||||
Stock Based Compensation (Textual) | |||||||||||||
Additional shares of common stock | 1,250 | ||||||||||||
Options granted | 7,213 | ||||||||||||
Number of shares authorized for issuance for compensation | shares | 373 | 5,813 | |||||||||||
2015 Performance Incentive Plan [Member] | |||||||||||||
Stock Based Compensation (Textual) | |||||||||||||
Options granted | 710,791 | 6,390 | |||||||||||
Shares authorized | 14,906 | 3,634 | |||||||||||
Number of shares authorized for issuance for compensation | shares | 31,831 | ||||||||||||
Shares limit percentage of number of outstanding shares | 7.50% | ||||||||||||
Repurchased shares | 3,115 | 3,115 | |||||||||||
2016 Performance Incentive Plan [Member] | |||||||||||||
Stock Based Compensation (Textual) | |||||||||||||
Options granted | 13,000 | ||||||||||||
Employee Stock Purchase Plan [Member] | |||||||||||||
Stock Based Compensation (Textual) | |||||||||||||
Stock based compensation description | The share limit will automatically increase on the first trading day in January of each year (commencing with January 2014) by an amount equal to lesser of (i) 1% of the total number of outstanding shares of the Company's common stock on the last trading day in December in the prior year, (ii) 1,250 shares, or (iii) such lesser number as determined by the Company's board of directors. As of December 31, 2017 and 2016, no shares had been purchased under the Stock Purchase Plan and, at December 31, 2017, 2,190 shares were authorized for issuance under the Stock Purchase Plan. |
Preferred Stock (Details)
Preferred Stock (Details) $ in Thousands | Dec. 31, 2017USD ($)shares |
Series K Preferred Stock [Member] | |
Temporary Equity [Line Items] | |
Temporary equity, dollar amount | $ | $ 735 |
Temporary equity, Shares | shares | 1,512 |
Series L Preferred Stock | |
Temporary Equity [Line Items] | |
Temporary equity, dollar amount | $ | $ 152 |
Temporary equity, Shares | shares | 227 |
Issurance of shares in settlement of debt obligations [Member] | Series K Preferred Stock [Member] | |
Temporary Equity [Line Items] | |
Temporary equity, dollar amount | $ | $ 735 |
Temporary equity, Shares | shares | 1,512 |
Issurance of shares in settlement of debt obligations [Member] | Series L Preferred Stock | |
Temporary Equity [Line Items] | |
Temporary equity, dollar amount | $ | $ 152 |
Temporary equity, Shares | shares | 227 |
Issurance of shares in settlement of debt obligations [Member] | Series K Preferred Stock [Member] | |
Temporary Equity [Line Items] | |
Temporary equity, dollar amount | $ | |
Temporary equity, Shares | shares | |
Issurance of shares in settlement of debt obligations [Member] | Series L Preferred Stock | |
Temporary Equity [Line Items] | |
Temporary equity, dollar amount | $ | |
Temporary equity, Shares | shares |
Preferred Stock (Details Textua
Preferred Stock (Details Textual) - USD ($) $ / shares in Units, $ in Thousands | Nov. 10, 2017 | Oct. 12, 2017 | Dec. 31, 2017 | Jul. 25, 2017 | Dec. 31, 2017 | Dec. 31, 2016 | Jul. 20, 2017 | Apr. 03, 2017 | Dec. 31, 2015 | Jan. 31, 2015 |
Temporary Equity [Line Items] | ||||||||||
Number of warrants issued to purchase common stock | 1 | 625,000 | 2.53 | |||||||
Related party principal amount | $ 430 | $ 100 | ||||||||
Related party, converted Interest | $ 220 | $ 3,515 | ||||||||
Designation Series K Preferred Stock [Member] | ||||||||||
Temporary Equity [Line Items] | ||||||||||
Preferred stock, shares authorized | 3,000 | |||||||||
Preferred stock stated value | $ 0.0001 | |||||||||
Liquidation preference amount in per share | 10,000 | |||||||||
Preferred stock, par value | $ 10,000 | |||||||||
Preferred stock, shares issued | 1,512 | |||||||||
Issuance of common stock pursuant to acquisition of assets | $ 1,512 | |||||||||
Percentage of lower price | 95.00% | |||||||||
Weighted average trading price | $ 3 | |||||||||
Preferred stock, shares outstanding | 1,512 | |||||||||
Accrued interest | $ 15,128 | |||||||||
Preferred Stock, issued value | $ 1,512 | $ 1,512 | ||||||||
Designation Series J Preferred Stock [Member] | ||||||||||
Temporary Equity [Line Items] | ||||||||||
Preferred stock, shares authorized | 1,000 | |||||||||
Preferred stock stated value | $ 4,916 | |||||||||
Liquidation preference amount in per share | 4,916 | |||||||||
Preferred stock, par value | $ 0.0001 | |||||||||
Percentage of total voting power | 51.00% | |||||||||
Preferred Stock, issued value | $ 1,753 | |||||||||
Designation Series L Preferred Stock [Member] | ||||||||||
Temporary Equity [Line Items] | ||||||||||
Preferred stock, shares authorized | 1,000 | |||||||||
Preferred stock stated value | $ 0.0001 | |||||||||
Liquidation preference amount in per share | 10,000 | |||||||||
Preferred stock, par value | $ 10,000 | |||||||||
Preferred stock, shares issued | 227 | |||||||||
Issuance of common stock pursuant to acquisition of assets | $ 5,430 | |||||||||
Percentage of lower price | 105.00% | |||||||||
Preferred stock, shares outstanding | 227 | |||||||||
Designation Series M Preferred Stock [Member] | ||||||||||
Temporary Equity [Line Items] | ||||||||||
Preferred stock, shares authorized | 500 | 500 | ||||||||
Preferred stock stated value | $ 0.0001 | $ 0.0001 | ||||||||
Number of warrants issued to purchase common stock | 382,300 | 382,300 | ||||||||
Liquidation preference amount in per share | $ 10,000 | $ 10,000 | ||||||||
Preferred stock, par value | $ 10,000 | $ 10,000 | ||||||||
Preferred stock, shares issued | 386 | 386 | ||||||||
Weighted average trading price | $ 105 | |||||||||
Preferred stock, shares outstanding | 386 | 386 | ||||||||
Mark Munro [Member] | Designation Series J Preferred Stock [Member] | ||||||||||
Temporary Equity [Line Items] | ||||||||||
Preferred stock, shares issued | 387 | |||||||||
Related party principal amount | $ 1,709 | |||||||||
Related party, converted Interest | $ 195 | |||||||||
Mark Durfee [Member] | Designation Series J Preferred Stock [Member] | ||||||||||
Temporary Equity [Line Items] | ||||||||||
Preferred stock, shares issued | 613 | |||||||||
Related party principal amount | $ 2,550 | |||||||||
Related party, converted Interest | $ 464 |
Related Parties (Details)
Related Parties (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Components of loans from related parties | ||
Loans from related parties | $ 75 | $ 18,163 |
Less: current portion of debt | (75) | (9,531) |
Long term portion of notes payable, related parties | 8,632 | |
CamaPlan FBO Mark Munro IRA [Member] | ||
Components of loans from related parties | ||
Loans from related parties | 658 | |
1112 Third Avenue Corp [Member] | ||
Components of loans from related parties | ||
Loans from related parties | 339 | |
Mark munro one [Member] | ||
Components of loans from related parties | ||
Loans from related parties | 575 | |
Pascack Road LLC [Member] | ||
Components of loans from related parties | ||
Loans from related parties | 2,398 | |
Forward Investment LLC unsecured [Member] | ||
Components of loans from related parties | ||
Loans from related parties | 4,235 | |
Forward Investments LLC one unsecured [Member] | ||
Components of loans from related parties | ||
Loans from related parties | 3,513 | |
Forward Investments LLC two unsecured [Member] | ||
Components of loans from related parties | ||
Loans from related parties | 390 | |
Former owner of IPC unsecured [Member] | ||
Components of loans from related parties | ||
Loans from related parties | 5,755 | |
Former owner of IPC unsecured one [Member] | ||
Components of loans from related parties | ||
Loans from related parties | 75 | |
Former owner of Nottingham unsecured [Member] | ||
Components of loans from related parties | ||
Loans from related parties | 225 | |
Pascack Road Llc unsecured [Member] | ||
Components of loans from related parties | ||
Loans from related parties | $ 75 |
Related Parties (Details 1)
Related Parties (Details 1) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Related Party Transaction [Line Items] | ||
Total principal payments | $ 114 | $ 121 |
Related Party Debt [Member] | ||
Related Party Transaction [Line Items] | ||
2,018 | 75 | |
Total principal payments | $ 75 |
Related Parties (Details Textua
Related Parties (Details Textual) - USD ($) $ / shares in Units, $ in Thousands | May 31, 2015 | May 19, 2015 | Mar. 04, 2015 | Feb. 10, 2015 | Jul. 01, 2014 | Feb. 04, 2014 | Jan. 01, 2014 | Jul. 25, 2017 | Mar. 25, 2015 | Feb. 25, 2015 | Mar. 28, 2014 | Jan. 31, 2013 | Dec. 31, 2016 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2012 | Dec. 28, 2017 | Apr. 03, 2017 |
Related Parties (Textual) | ||||||||||||||||||||
Original principal amount of debt instrument | $ 430 | $ 430 | $ 100 | |||||||||||||||||
Maturity date of notes | Oct. 31, 2017 | |||||||||||||||||||
Loans from related parties | 18,163 | $ 75 | $ 18,163 | |||||||||||||||||
Interest expense associated with related-party notes | $ 220 | $ 3,515 | ||||||||||||||||||
Amount of debt discount | $ 485 | |||||||||||||||||||
Converted shares | 80,569,943 | 166,262 | ||||||||||||||||||
Gain (loss) on extinguishment of debt, net | $ (8,857) | $ (9,587) | ||||||||||||||||||
Additional convertible notes | $ 1,264 | 1,264 | $ 1,264 | |||||||||||||||||
Change in fair value of derivative liability recorded as net gain (loss) | 1,916 | |||||||||||||||||||
Ownership percentage by NGNWare | 9.75% | 9.75% | ||||||||||||||||||
Loans to employees [Member] | ||||||||||||||||||||
Related Parties (Textual) | ||||||||||||||||||||
Original principal amount of debt instrument | $ 928 | $ 928 | ||||||||||||||||||
Loans from related parties | 928 | 928 | 928 | |||||||||||||||||
Reserve of loans to employees | $ 891 | $ 891 | $ 924 | |||||||||||||||||
Mark Munro, Chief Executive Officer [Member] | ||||||||||||||||||||
Related Parties (Textual) | ||||||||||||||||||||
Original principal amount of debt instrument | $ 1,709 | |||||||||||||||||||
Interest expense associated with related-party notes | $ 2,550 | |||||||||||||||||||
Issuance of shares of common stock | 387 | |||||||||||||||||||
Mark Durfee, Director [Member] | ||||||||||||||||||||
Related Parties (Textual) | ||||||||||||||||||||
Original principal amount of debt instrument | $ 2,550 | |||||||||||||||||||
Interest expense associated with related-party notes | $ 464 | |||||||||||||||||||
Issuance of shares of common stock | 613 | |||||||||||||||||||
Mark Munro 1996 Charitable Trust [Member] | ||||||||||||||||||||
Related Parties (Textual) | ||||||||||||||||||||
Interest rate | 3.00% | |||||||||||||||||||
Maturity date of notes | Jan. 1, 2018 | |||||||||||||||||||
Payments to Owners of NGNWare [Member] | ||||||||||||||||||||
Related Parties (Textual) | ||||||||||||||||||||
Equity interest percentage in subsidiary | 86.30% | 86.30% | 86.30% | |||||||||||||||||
Ownership percentage by NGNWare | 13.70% | 13.70% | 13.70% | |||||||||||||||||
Salary padi to health insuance permiums | $ 6 | $ 14 | ||||||||||||||||||
Health insurance recoveries | $ 16 | 5 | ||||||||||||||||||
Series E Preferred Stock Financing [Member] | ||||||||||||||||||||
Related Parties (Textual) | ||||||||||||||||||||
Sale of stock to accredited investors | 2,725 | |||||||||||||||||||
Sale of Stock, Price Per Share | $ 1,000 | |||||||||||||||||||
Sale of stock to accredited investors value | $ 2,725 | |||||||||||||||||||
Series E Preferred Stock Financing [Member] | Charles K. Miller, Director [Member] | ||||||||||||||||||||
Related Parties (Textual) | ||||||||||||||||||||
Sale of stock to accredited investors | 25 | 25 | ||||||||||||||||||
Sale of stock to accredited investors value | $ 25 | $ 25 | ||||||||||||||||||
Promissory note 1 [Member] | Mark Munro 1996 Charitable Trust [Member] | ||||||||||||||||||||
Related Parties (Textual) | ||||||||||||||||||||
Original principal amount of debt instrument | $ 100 | |||||||||||||||||||
Issuance of shares of common stock | 42,553 | |||||||||||||||||||
Promissory note 1 [Member] | Mark Munro 1996 Charitable Trust [Member] | Minimum [Member] | ||||||||||||||||||||
Related Parties (Textual) | ||||||||||||||||||||
Interest rate | 3.00% | |||||||||||||||||||
Maturity date of notes | Mar. 31, 2016 | |||||||||||||||||||
Promissory note 1 [Member] | Mark Munro 1996 Charitable Trust [Member] | Maximum [Member] | ||||||||||||||||||||
Related Parties (Textual) | ||||||||||||||||||||
Interest rate | 18.00% | |||||||||||||||||||
Maturity date of notes | Jan. 1, 2017 | |||||||||||||||||||
Promissory note 2 [Member] | ||||||||||||||||||||
Related Parties (Textual) | ||||||||||||||||||||
Maturity date of notes | May 31, 2016 | |||||||||||||||||||
Amount of debt discount | $ 9 | |||||||||||||||||||
Promissory note 2 [Member] | Mark Munro 1996 Charitable Trust [Member] | ||||||||||||||||||||
Related Parties (Textual) | ||||||||||||||||||||
Original principal amount of debt instrument | $ 175 | |||||||||||||||||||
Promissory note 2 [Member] | Mark Munro 1996 Charitable Trust [Member] | Minimum [Member] | ||||||||||||||||||||
Related Parties (Textual) | ||||||||||||||||||||
Interest rate | 3.00% | |||||||||||||||||||
Maturity date of notes | Mar. 31, 2016 | |||||||||||||||||||
Promissory note 2 [Member] | Mark Munro 1996 Charitable Trust [Member] | Maximum [Member] | ||||||||||||||||||||
Related Parties (Textual) | ||||||||||||||||||||
Interest rate | 12.00% | |||||||||||||||||||
Maturity date of notes | Jan. 1, 2018 | |||||||||||||||||||
CamaPlan FBO Mark Munro IRA [Member] | ||||||||||||||||||||
Related Parties (Textual) | ||||||||||||||||||||
Interest rate | 3.00% | 3.00% | 3.00% | |||||||||||||||||
Maturity date of notes | Jan. 1, 2018 | Jan. 1, 2018 | ||||||||||||||||||
Amount of debt discount | 38 | |||||||||||||||||||
Monthly interest rate on promissory note | 12.00% | |||||||||||||||||||
CamaPlan FBO Mark Munro IRA [Member] | Promissory Note 25 [Member] | ||||||||||||||||||||
Related Parties (Textual) | ||||||||||||||||||||
Original principal amount of debt instrument | $ 200 | |||||||||||||||||||
Maturity date of notes | Jan. 1, 2018 | |||||||||||||||||||
Issuance of shares of common stock | 41,600 | |||||||||||||||||||
1112 Third Avenue Corp [Member] | ||||||||||||||||||||
Related Parties (Textual) | ||||||||||||||||||||
Interest rate | 3.00% | 3.00% | 3.00% | |||||||||||||||||
Maturity date of notes | Jan. 1, 2018 | Jan. 1, 2018 | ||||||||||||||||||
Amount of debt discount | 36 | |||||||||||||||||||
Monthly interest rate on promissory note | 12.00% | |||||||||||||||||||
1112 Third Avenue Corp [Member] | Promissory Note 22 [Member] | ||||||||||||||||||||
Related Parties (Textual) | ||||||||||||||||||||
Issuance of shares of common stock | 50,000 | |||||||||||||||||||
Pascack Road LLC [Member] | ||||||||||||||||||||
Related Parties (Textual) | ||||||||||||||||||||
Interest rate | 3.00% | 3.00% | ||||||||||||||||||
Loans from related parties | $ 75 | |||||||||||||||||||
Amount of debt discount | 152 | |||||||||||||||||||
Pascack Road LLC [Member] | Minimum [Member] | ||||||||||||||||||||
Related Parties (Textual) | ||||||||||||||||||||
Monthly interest rate on promissory note | 12.00% | |||||||||||||||||||
Pascack Road LLC [Member] | Maximum [Member] | ||||||||||||||||||||
Related Parties (Textual) | ||||||||||||||||||||
Monthly interest rate on promissory note | 18.00% | |||||||||||||||||||
Pascack Road LLC [Member] | Promissory Note 27 [Member] | ||||||||||||||||||||
Related Parties (Textual) | ||||||||||||||||||||
Original principal amount of debt instrument | $ 1,075 | |||||||||||||||||||
Maturity date of notes | Jan. 1, 2018 | |||||||||||||||||||
Issuance of shares of common stock | 223,600 | |||||||||||||||||||
Pascack Road LLC [Member] | Promissory Note 27 [Member] | Minimum [Member] | ||||||||||||||||||||
Related Parties (Textual) | ||||||||||||||||||||
Interest rate | 3.00% | |||||||||||||||||||
Maturity date of notes | Mar. 31, 2016 | |||||||||||||||||||
Pascack Road LLC [Member] | Promissory Note 27 [Member] | Maximum [Member] | ||||||||||||||||||||
Related Parties (Textual) | ||||||||||||||||||||
Interest rate | 18.00% | |||||||||||||||||||
Maturity date of notes | Jan. 1, 2018 | |||||||||||||||||||
Owner Of Ipc Unsecured [Member] | ||||||||||||||||||||
Related Parties (Textual) | ||||||||||||||||||||
Interest rate | 8.00% | |||||||||||||||||||
Maturity date of notes | May 30, 2016 | May 30, 2016 | ||||||||||||||||||
Monthly interest rate on promissory note | 8.00% | |||||||||||||||||||
June 2013, unsecured [Member] | ||||||||||||||||||||
Related Parties (Textual) | ||||||||||||||||||||
Maturity date of notes | Jun. 30, 2013 | |||||||||||||||||||
Monthly interest rate on promissory note | 30.00% | |||||||||||||||||||
Mark Munro [Member] | ||||||||||||||||||||
Related Parties (Textual) | ||||||||||||||||||||
Interest rate | 3.00% | 3.00% | 3.00% | |||||||||||||||||
Maturity date of notes | Jan. 1, 2018 | Jan. 1, 2018 | ||||||||||||||||||
Monthly interest payment on promissory note | $ 195 | |||||||||||||||||||
Converted principal amount | $ 1,709 | |||||||||||||||||||
Mark Munro [Member] | Minimum [Member] | ||||||||||||||||||||
Related Parties (Textual) | ||||||||||||||||||||
Monthly interest rate on promissory note | 12.00% | |||||||||||||||||||
Mark Munro [Member] | Maximum [Member] | ||||||||||||||||||||
Related Parties (Textual) | ||||||||||||||||||||
Monthly interest rate on promissory note | 18.00% | |||||||||||||||||||
Mark Munro [Member] | Promissory Note 19 [Member] | Minimum [Member] | ||||||||||||||||||||
Related Parties (Textual) | ||||||||||||||||||||
Interest rate | 3.00% | |||||||||||||||||||
Maturity date of notes | Mar. 31, 2016 | |||||||||||||||||||
Mark Munro [Member] | Promissory Note 19 [Member] | Maximum [Member] | ||||||||||||||||||||
Related Parties (Textual) | ||||||||||||||||||||
Maturity date of notes | Jan. 1, 2018 | |||||||||||||||||||
Mark Munro [Member] | Promissory Note 24 [Member] | Maximum [Member] | ||||||||||||||||||||
Related Parties (Textual) | ||||||||||||||||||||
Maturity date of notes | Jan. 1, 2018 | |||||||||||||||||||
Forward Investment LLC unsecured [Member] | ||||||||||||||||||||
Related Parties (Textual) | ||||||||||||||||||||
Interest rate | 10.00% | 10.00% | ||||||||||||||||||
Maturity date of notes | Jun. 30, 2015 | Jun. 30, 2015 | ||||||||||||||||||
Initial conversion price | $ 6.36 | $ 6.36 | ||||||||||||||||||
Loans to company for working capital | $ 1,800 | $ 1,200 | ||||||||||||||||||
Amount of debt discount | $ 8,860 | |||||||||||||||||||
Forward Investment LLC unsecured [Member] | Minimum [Member] | ||||||||||||||||||||
Related Parties (Textual) | ||||||||||||||||||||
Interest rate | 2.00% | 2.00% | ||||||||||||||||||
Monthly interest rate on promissory note | 2.00% | |||||||||||||||||||
Forward Investment LLC unsecured [Member] | Maximum [Member] | ||||||||||||||||||||
Related Parties (Textual) | ||||||||||||||||||||
Interest rate | 10.00% | 10.00% | ||||||||||||||||||
Monthly interest rate on promissory note | 10.00% | |||||||||||||||||||
Forward Investment LLC unsecured [Member] | Promissory note 1 [Member] | ||||||||||||||||||||
Related Parties (Textual) | ||||||||||||||||||||
Original principal amount of debt instrument | $ 3,650 | |||||||||||||||||||
Interest rate | 10.00% | |||||||||||||||||||
Maturity date of notes | Jul. 1, 2016 | |||||||||||||||||||
Converted principal amount | $ 19 | |||||||||||||||||||
Forward Investment LLC unsecured [Member] | Promissory note 1 [Member] | Minimum [Member] | ||||||||||||||||||||
Related Parties (Textual) | ||||||||||||||||||||
Maturity date of notes | Jun. 30, 2015 | |||||||||||||||||||
Forward Investment LLC unsecured [Member] | Promissory note 1 [Member] | Maximum [Member] | ||||||||||||||||||||
Related Parties (Textual) | ||||||||||||||||||||
Maturity date of notes | Jul. 1, 2016 | |||||||||||||||||||
Forward Investment LLC unsecured [Member] | Promissory note 2 [Member] | ||||||||||||||||||||
Related Parties (Textual) | ||||||||||||||||||||
Original principal amount of debt instrument | $ 2,825 | |||||||||||||||||||
Interest rate | 2.00% | |||||||||||||||||||
Maturity date of notes | Jul. 1, 2016 | Jun. 30, 2015 | ||||||||||||||||||
Forward Investment LLC unsecured [Member] | Promissory note 2 [Member] | Minimum [Member] | ||||||||||||||||||||
Related Parties (Textual) | ||||||||||||||||||||
Maturity date of notes | Jun. 30, 2015 | |||||||||||||||||||
Forward Investment LLC unsecured [Member] | Promissory note 2 [Member] | Maximum [Member] | ||||||||||||||||||||
Related Parties (Textual) | ||||||||||||||||||||
Maturity date of notes | Jul. 1, 2016 | |||||||||||||||||||
Forward Investment LLC unsecured [Member] | Promissory note 3 [Member] | ||||||||||||||||||||
Related Parties (Textual) | ||||||||||||||||||||
Original principal amount of debt instrument | $ 2,645 | |||||||||||||||||||
Maturity date of notes | Jan. 1, 2018 | |||||||||||||||||||
Initial conversion price | $ 6.36 | |||||||||||||||||||
Sale of Stock, Price Per Share | $ 2.35 | |||||||||||||||||||
Forward Investment LLC unsecured [Member] | Promissory note 3 [Member] | Minimum [Member] | ||||||||||||||||||||
Related Parties (Textual) | ||||||||||||||||||||
Interest rate | 3.00% | |||||||||||||||||||
Forward Investment LLC unsecured [Member] | Promissory note 3 [Member] | Maximum [Member] | ||||||||||||||||||||
Related Parties (Textual) | ||||||||||||||||||||
Interest rate | 18.00% | |||||||||||||||||||
Forward Investment LLC unsecured [Member] | Promissory note 4 [Member] | ||||||||||||||||||||
Related Parties (Textual) | ||||||||||||||||||||
Original principal amount of debt instrument | $ 1,730 | |||||||||||||||||||
Interest rate | 3.00% | |||||||||||||||||||
Maturity date of notes | Jan. 1, 2018 | |||||||||||||||||||
Sale of Stock, Price Per Share | $ 2.35 | |||||||||||||||||||
Loss on debt modification | $ 1,508 | |||||||||||||||||||
Additional convertible notes | $ 8,000 | |||||||||||||||||||
Forward Investments LLC one unsecured [Member] | ||||||||||||||||||||
Related Parties (Textual) | ||||||||||||||||||||
Interest rate | 3.00% | 3.00% | 3.00% | |||||||||||||||||
Maturity date of notes | Jan. 1, 2018 | Jan. 1, 2018 | ||||||||||||||||||
Amount of debt discount | 860 | |||||||||||||||||||
Monthly interest rate on promissory note | 18.00% | |||||||||||||||||||
Forward Investments LLC one unsecured [Member] | Promissory note 5 [Member] | ||||||||||||||||||||
Related Parties (Textual) | ||||||||||||||||||||
Interest rate | 6.50% | |||||||||||||||||||
Maturity date of notes | Jan. 1, 2016 | |||||||||||||||||||
Percentage of outstanding shares of common stock sold | 10.00% | |||||||||||||||||||
Forward Investments LLC one unsecured [Member] | Promissory note 5 [Member] | Minimum [Member] | ||||||||||||||||||||
Related Parties (Textual) | ||||||||||||||||||||
Percentage of outstanding shares of common stock sold | 2.00% | |||||||||||||||||||
Forward Investments LLC one unsecured [Member] | Promissory note 5 [Member] | Maximum [Member] | ||||||||||||||||||||
Related Parties (Textual) | ||||||||||||||||||||
Percentage of outstanding shares of common stock sold | 10.00% | |||||||||||||||||||
Forward Investments LLC two unsecured [Member] | ||||||||||||||||||||
Related Parties (Textual) | ||||||||||||||||||||
Interest rate | 6.50% | 6.50% | 6.50% | |||||||||||||||||
Maturity date of notes | Jul. 1, 2016 | Jul. 1, 2016 | ||||||||||||||||||
Debt discount | 5.00% | |||||||||||||||||||
Former owner of IPC unsecured one [Member] | ||||||||||||||||||||
Related Parties (Textual) | ||||||||||||||||||||
Interest rate | 15.00% | 15.00% | 15.00% | |||||||||||||||||
Monthly interest rate on promissory note | 15.00% | |||||||||||||||||||
Former owner of Nottingham unsecured [Member] | ||||||||||||||||||||
Related Parties (Textual) | ||||||||||||||||||||
Interest rate | 8.00% | 8.00% | 8.00% | |||||||||||||||||
Maturity date of notes | May 30, 2016 | May 30, 2016 | ||||||||||||||||||
Scott Davis [Member] | ||||||||||||||||||||
Related Parties (Textual) | ||||||||||||||||||||
Interest rate | 8.00% | |||||||||||||||||||
Maturity date of notes | Jan. 1, 2015 | May 30, 2016 | ||||||||||||||||||
Initial conversion price | $ 1,412 | $ 2,636 | $ 888 | |||||||||||||||||
Sale of stock to accredited investors | 56 | |||||||||||||||||||
Sale of Stock, Price Per Share | $ 864 | |||||||||||||||||||
Monthly interest rate on promissory note | 8.00% | |||||||||||||||||||
Converted principal amount | $ 25 | |||||||||||||||||||
Unsecured convertible promissory notes | $ 250 | |||||||||||||||||||
Converted shares | 29 | |||||||||||||||||||
Loss on debt modification | $ 13 | |||||||||||||||||||
Frank Jadevaia [Member] | ||||||||||||||||||||
Related Parties (Textual) | ||||||||||||||||||||
Original principal amount of debt instrument | $ 500 | $ 6,255 | ||||||||||||||||||
Interest rate | 8.00% | |||||||||||||||||||
Maturity date of notes | May 30, 2016 | |||||||||||||||||||
Sale of Stock, Price Per Share | $ 3.38 | |||||||||||||||||||
Converted principal amount | $ 500 | |||||||||||||||||||
Issuance of shares of common stock | 232,182 | 100,000 | ||||||||||||||||||
Mark munro one [Member] | ||||||||||||||||||||
Related Parties (Textual) | ||||||||||||||||||||
Interest rate | 3.00% | 3.00% | 3.00% | |||||||||||||||||
Maturity date of notes | Jan. 1, 2018 | Jan. 1, 2018 | ||||||||||||||||||
Amount of debt discount | $ 62 |
Segment Information (Details)
Segment Information (Details) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Jan. 01, 2016 | |
Segment Reporting Information [Line Items] | ||||
Revenue by Segment | $ 34,520 | $ 59,110 | ||
Gross Profit by Segment | 7,028 | 14,108 | ||
Operating Income (Loss) by Segment | (16,423) | (12,517) | ||
Interest Expense by Segment | 7,050 | 13,754 | ||
Total Assets by Segment | 16,456 | 54,569 | ||
Goodwill by Segment | 16,987 | $ 16,163 | ||
Depreciation and Amortization Expense by Segment | 559 | 1,326 | ||
Assets of discontinued operations [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Total Assets by Segment | 41 | 15,389 | ||
Applications and infrastructure [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Revenue by Segment | 12,009 | 22,173 | ||
Gross Profit by Segment | 3,411 | 3,633 | ||
Operating Income (Loss) by Segment | (1,697) | (1,755) | ||
Interest Expense by Segment | 18 | 21 | ||
Total Assets by Segment | 3,807 | 16,177 | ||
Goodwill by Segment | 6,906 | |||
Depreciation and Amortization Expense by Segment | 271 | 789 | ||
Professional services [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Revenue by Segment | 22,511 | 36,937 | ||
Gross Profit by Segment | 3,617 | 10,475 | ||
Operating Income (Loss) by Segment | (7,971) | 1,991 | ||
Interest Expense by Segment | ||||
Total Assets by Segment | 7,244 | 21,334 | ||
Goodwill by Segment | 1,003 | 10,081 | ||
Depreciation and Amortization Expense by Segment | 268 | 516 | ||
Corporate [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Operating Income (Loss) by Segment | (6,755) | (12,753) | ||
Interest Expense by Segment | 7,032 | 13,733 | ||
Total Assets by Segment | 5,364 | 1,669 | ||
Depreciation and Amortization Expense by Segment | 20 | 21 | $ 16 | |
Domestic [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Revenue by Segment | 33,696 | 57,836 | ||
Gross Profit by Segment | 6,679 | 13,846 | ||
Operating Income (Loss) by Segment | (16,727) | (12,663) | ||
Domestic [Member] | Applications and infrastructure [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Revenue by Segment | 11,415 | 21,254 | ||
Gross Profit by Segment | 3,114 | 3,428 | ||
Operating Income (Loss) by Segment | (1,948) | (1,854) | ||
Domestic [Member] | Professional services [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Revenue by Segment | 22,281 | 36,582 | ||
Gross Profit by Segment | 3,565 | 10,418 | ||
Operating Income (Loss) by Segment | (8,024) | 1,944 | ||
Domestic [Member] | Corporate [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Operating Income (Loss) by Segment | (6,755) | (12,953) | ||
Foreign [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Revenue by Segment | 824 | 1,274 | ||
Gross Profit by Segment | 349 | 262 | ||
Operating Income (Loss) by Segment | 304 | 146 | ||
Foreign [Member] | Applications and infrastructure [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Revenue by Segment | 594 | 919 | ||
Gross Profit by Segment | 297 | 205 | ||
Operating Income (Loss) by Segment | 251 | 99 | ||
Foreign [Member] | Professional services [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Revenue by Segment | 230 | 355 | ||
Gross Profit by Segment | 52 | 57 | ||
Operating Income (Loss) by Segment | 53 | 47 | ||
Foreign [Member] | Corporate [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Operating Income (Loss) by Segment |
Segment Information (Details Te
Segment Information (Details Textual) $ in Thousands | 12 Months Ended | |
Dec. 31, 2017Segment | Dec. 31, 2016USD ($) | |
Segment Information (Textual) | ||
Number of reportable segments | Segment | 2 | |
Applications and infrastructure [Member] | ||
Segment Information (Textual) | ||
Revenues by segment by geographic region | $ 5,761 | |
Concentration risk percentage | 7.00% | |
Professional services [Member] | ||
Segment Information (Textual) | ||
Revenues by segment by geographic region | $ 4,929 | |
Concentration risk percentage | 6.00% | |
Applications and infrastructure one [Member] | ||
Segment Information (Textual) | ||
Revenues by segment by geographic region | $ 5,718 | |
Concentration risk percentage | 11.00% | |
Professional services one [Member] | ||
Segment Information (Textual) | ||
Revenues by segment by geographic region | $ 3,731 | |
Concentration risk percentage | 17.00% |
Discontinued Operations (Detail
Discontinued Operations (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Current assets: | ||
Cash | $ 9 | |
Accounts receivable, net of allowances | 41 | 4,096 |
Inventory | 165 | |
Other current assets | 467 | |
Current assets of discontinued operations | 41 | 4,737 |
Long-term Assets: | ||
Property and equipment, net | 187 | |
Goodwill | 6,381 | |
Intangible assets, net | 4,068 | |
Other assets | 16 | |
Long-term assets of discontinued operations | 10,652 | |
Current liabilities: | ||
Accrued trade payables | 3,011 | 4,447 |
Accrued expenses | 328 | 1,062 |
Deferred revenue | 1,111 | |
Current liabilities of discontinued operations | $ 3,338 | $ 6,620 |
Discontinued Operations (Deta_2
Discontinued Operations (Details 1) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Discontinued Operations [Abstract] | ||
Revenues | $ 7,409 | $ 20,267 |
Cost of revenue | 5,461 | 13,467 |
Gross profit | 1,948 | 6,800 |
Operating expenses: | ||
Depreciation and amortization | 512 | 1,226 |
Salaries and wages | 1,574 | 5,049 |
Selling, general and administrative | 1,375 | 2,767 |
Goodwill impairment charge | 1,114 | |
Intangible asset impairment charge | 3,459 | |
Total operating expenses | 3,461 | 13,615 |
Pre-tax loss from operations | (1,513) | (6,815) |
Other income (expenses): | ||
Interest expense | (6) | (273) |
Other expense | (158) | |
Gain (loss) on disposal of subsidiary | (1,559) | (5,672) |
Total other (income) expense | (46) | 1,143 |
Pre-tax loss on discontinued operations | (1,559) | (5,672) |
(Benefit from) provision for income taxes | ||
Loss on discontinued operations, net of tax | $ (1,559) | $ (5,672) |
Discontinued Operations (Deta_3
Discontinued Operations (Details Textual) - USD ($) $ in Thousands | Nov. 04, 2016 | Apr. 29, 2016 | Feb. 17, 2016 | Dec. 31, 2017 | Dec. 31, 2016 |
Discontinued Operations (Textual) | |||||
Gain (loss) on disposal of assets | $ (1,559) | $ (5,672) | |||
Percentage of gross proceeds of sale or disposition | 50.00% | ||||
Gross proceeds of sale or disposition | $ 1,500 | ||||
Vault Logix Subsidiaries [Member] | |||||
Discontinued Operations (Textual) | |||||
Gain (loss) on disposal of assets | 2,637 | ||||
Axim [Member] | |||||
Discontinued Operations (Textual) | |||||
Gain (loss) on disposal of assets | $ 1,063 | ||||
Nottingham [Member] | |||||
Discontinued Operations (Textual) | |||||
Gain (loss) on disposal of assets | 464 | ||||
IPC [Member] | |||||
Discontinued Operations (Textual) | |||||
Gain (loss) on disposal of assets | $ 8,026 | ||||
Asset Purchase Agreement [Member] | |||||
Discontinued Operations (Textual) | |||||
Disposal group, including discontinued operation, cash | $ 24,000 | ||||
Disposal group, including discontinued operation, description | The cash purchase price paid to the Company for the assets was $24,000, which was paid to the Company as follows: (i) $22,000 paid in cash on the closing date and (ii) $2,000 deposited in an escrow account to secure the performance of the obligations of the Company and VaultLogix, including any potential indemnification claims, under the asset purchase agreement, to be released on February 17, 2017. | ||||
Payments for purchase of assets | $ 22,000 | ||||
Escrow deposits related to sale of assets | $ 2,000 | ||||
Settlement Agreement [Member] | Vault Logix Subsidiaries [Member] | |||||
Discontinued Operations (Textual) | |||||
Escrow deposits related to sale of assets | $ 150 | ||||
Settlement Agreement [Member] | Keepitsafe Inc [Member] | |||||
Discontinued Operations (Textual) | |||||
Escrow deposits related to sale of assets | $ 1,850 |
Subsequent Events (Details)
Subsequent Events (Details) - USD ($) $ / shares in Units, $ in Thousands | Mar. 20, 2018 | Mar. 15, 2018 | Mar. 09, 2018 | Mar. 02, 2018 | Jan. 03, 2018 | May 31, 2015 | May 14, 2015 | Feb. 27, 2018 | Feb. 23, 2018 | Feb. 22, 2018 | Feb. 16, 2018 | Feb. 14, 2018 | Jul. 31, 2017 | Mar. 31, 2017 | Feb. 28, 2017 | Jan. 31, 2017 | Jan. 31, 2016 | Nov. 30, 2015 | Oct. 31, 2015 | Apr. 30, 2015 | Mar. 31, 2015 | Jan. 31, 2015 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Mar. 13, 2018 | Apr. 03, 2017 | Mar. 31, 2016 | Mar. 04, 2015 |
Subsequent Events (Textual) | |||||||||||||||||||||||||||||
Reverse stock split, description | The Company issued 126 additional shares based on rounding differences resulting from the one-for-four reverse stock split which was effective as of the open of trading on July 12, 2017. | ||||||||||||||||||||||||||||
Principal amount | $ 430 | $ 100 | |||||||||||||||||||||||||||
Maturity date of debt | Oct. 31, 2017 | ||||||||||||||||||||||||||||
Common stock, par value | $ 0.0001 | $ 0.0001 | |||||||||||||||||||||||||||
Common stock issued | 94,905 | 192,096 | 300,000 | 1,961 | |||||||||||||||||||||||||
Price per share | $ 7 | $ 272 | |||||||||||||||||||||||||||
Issuance of common stock upon conversion of debt, Shares | 133,334 | ||||||||||||||||||||||||||||
Principal and accrued interest of note outstanding | $ 1,000 | $ 167 | |||||||||||||||||||||||||||
Principal of note outstanding | $ 16,147 | $ 7,216 | |||||||||||||||||||||||||||
Rdw Capital Llc [Member] | |||||||||||||||||||||||||||||
Subsequent Events (Textual) | |||||||||||||||||||||||||||||
Issuance of common stock upon conversion of debt, Shares | 1,189,723 | ||||||||||||||||||||||||||||
Principal of note outstanding | $ 105 | ||||||||||||||||||||||||||||
Subsequent Event [Member] | |||||||||||||||||||||||||||||
Subsequent Events (Textual) | |||||||||||||||||||||||||||||
Sale of stock received | $ 275 | ||||||||||||||||||||||||||||
Warrant to purchase shares, description | The Company sold its remaining 19.9% share of AWS to Spectrum Global Solutions, Inc. ("Spectrum") in exchange for a warrant to purchase shares equal to 4% of the outstanding shares of Spectrum on the date the exercise notice is delivered, at an exercise price of $0.0001 per share. | ||||||||||||||||||||||||||||
Warrant expiration date | Feb. 14, 2021 | ||||||||||||||||||||||||||||
Reverse stock split, description | Issued and outstanding shares of common stock, par value $0.0001 per share, effective as of the open of trading on February 23, 2018. | ||||||||||||||||||||||||||||
Registered an aggregate of shares of common stock | 5,096,103 | ||||||||||||||||||||||||||||
Common stock, par value | $ 0.0001 | ||||||||||||||||||||||||||||
Subsequent Event [Member] | AWS Entities [Member] | |||||||||||||||||||||||||||||
Subsequent Events (Textual) | |||||||||||||||||||||||||||||
Principal amount | $ 794 | ||||||||||||||||||||||||||||
Note accrues interest rate | 1.00% | ||||||||||||||||||||||||||||
Maturity date of debt | Aug. 16, 2019 | ||||||||||||||||||||||||||||
Description of debt | The note is convertible into shares of common stock of the buyer at a conversion price per share equal to 80% of the lowest VWAP over the five (5) trading days immediately prior to, but not including, the conversion date. | ||||||||||||||||||||||||||||
Subsequent Event [Member] | Pryor Cashman Llp [Member] | |||||||||||||||||||||||||||||
Subsequent Events (Textual) | |||||||||||||||||||||||||||||
Warrant to purchase shares, description | 25% of the closing price of the Company's common stock on the trading day immediately preceding the date of exercise. | ||||||||||||||||||||||||||||
Warrant expiration date | May 23, 2018 | ||||||||||||||||||||||||||||
Warrant to purchase shares of common stock | 5,000,000 | ||||||||||||||||||||||||||||
Exercise price of warrants | $ 0.075 | ||||||||||||||||||||||||||||
Common stock issued | 100,000 | ||||||||||||||||||||||||||||
Price per share | $ 0.16 | ||||||||||||||||||||||||||||
Subsequent Event [Member] | Adex Entities [Member] | |||||||||||||||||||||||||||||
Subsequent Events (Textual) | |||||||||||||||||||||||||||||
Sale of stock received | $ 3,000 | ||||||||||||||||||||||||||||
Principal amount | $ 2,000 | ||||||||||||||||||||||||||||
Note accrues interest rate | 6.00% | ||||||||||||||||||||||||||||
Maturity date of debt | Mar. 27, 2019 | ||||||||||||||||||||||||||||
Description of debt | $2,500 in cash was received at closing, with $500 to be retained by the buyer for 90 days, of which $250 has been received. $1,000 of the $2,500 in cash received at closing was applied to the repayment of our indebtedness to JGB Concord, with an additional $900 in cash placed in an escrow account controlled by JGB Concord, to be released to the Company if certain conditions are met. | ||||||||||||||||||||||||||||
Conversion price per share | $ 0.005 | ||||||||||||||||||||||||||||
Description of debt conversion | The note is convertible into shares of common stock of the buyer at a conversion price per share equal to 75% of the lowest VWAP during the fifteen (15) trading days immediately prior to the conversion date. | ||||||||||||||||||||||||||||
Subsequent Event [Member] | Dealy Silberstein [Member] | |||||||||||||||||||||||||||||
Subsequent Events (Textual) | |||||||||||||||||||||||||||||
Common stock issued | 200,000 | ||||||||||||||||||||||||||||
Price per share | $ 0.15 | ||||||||||||||||||||||||||||
Subsequent Event [Member] | Braverman, Llp [Member] | |||||||||||||||||||||||||||||
Subsequent Events (Textual) | |||||||||||||||||||||||||||||
Common stock issued | 200,000 | ||||||||||||||||||||||||||||
Price per share | $ 0.15 | ||||||||||||||||||||||||||||
Subsequent Event [Member] | Sichenzia Ross Ference Kesner Llp [Member] | |||||||||||||||||||||||||||||
Subsequent Events (Textual) | |||||||||||||||||||||||||||||
Common stock issued | 681,818 | ||||||||||||||||||||||||||||
Price per share | $ 0.15 | ||||||||||||||||||||||||||||
12% Convertible Promissory Note [Member] | |||||||||||||||||||||||||||||
Subsequent Events (Textual) | |||||||||||||||||||||||||||||
Conversion price per share | $ 3.74 | $ 6.36 | |||||||||||||||||||||||||||
Issuance of common stock upon conversion of debt, Shares | 1,262,803 | 348,164 | 1,262,803 | ||||||||||||||||||||||||||
Principal and accrued interest of note outstanding | $ 1,000 | $ 1,000 | |||||||||||||||||||||||||||
12% Convertible Promissory Note [Member] | Subsequent Event [Member] | |||||||||||||||||||||||||||||
Subsequent Events (Textual) | |||||||||||||||||||||||||||||
Principal amount | $ 150 | ||||||||||||||||||||||||||||
Note accrues interest rate | 12.00% | ||||||||||||||||||||||||||||
Maturity date of debt | Feb. 27, 2019 | ||||||||||||||||||||||||||||
Description of debt conversion | The note is convertible into shares of the Company's common stock at a conversion price per share equal to 80% of the average of the three (3) lowest VWAPs over the five (5) trading days prior to the conversion date. | ||||||||||||||||||||||||||||
Promissory Note Conversions [Member] | Rdw Capital Llc [Member] | |||||||||||||||||||||||||||||
Subsequent Events (Textual) | |||||||||||||||||||||||||||||
Issuance of common stock upon conversion of debt, Shares | 1,063,829 | 428,572 | 321,429 | ||||||||||||||||||||||||||
Principal of note outstanding | $ 100 | $ 55 | $ 45 | ||||||||||||||||||||||||||
Promissory Note Conversions [Member] | Dominion Capital Llc [Member] | |||||||||||||||||||||||||||||
Subsequent Events (Textual) | |||||||||||||||||||||||||||||
Issuance of common stock upon conversion of debt, Shares | 498.474 | ||||||||||||||||||||||||||||
Principal and accrued interest of note outstanding | $ 78 | ||||||||||||||||||||||||||||
Promissory Note Conversions [Member] | Jgb Waltham [Member] | |||||||||||||||||||||||||||||
Subsequent Events (Textual) | |||||||||||||||||||||||||||||
Issuance of common stock upon conversion of debt, Shares | 1,619,132 | 298.470 | 154,489 | ||||||||||||||||||||||||||
Principal and accrued interest of note outstanding | $ 78 | $ 78 | $ 78 | ||||||||||||||||||||||||||
Third Avenue Corp Receivables Purchase Agreement [Member] | Subsequent Event [Member] | |||||||||||||||||||||||||||||
Subsequent Events (Textual) | |||||||||||||||||||||||||||||
Sale of stock received | 275 | ||||||||||||||||||||||||||||
Pascack Road, Llc Receivables Purchase Agreement [Member] | |||||||||||||||||||||||||||||
Subsequent Events (Textual) | |||||||||||||||||||||||||||||
Promissory note outstanding | $ 75 | ||||||||||||||||||||||||||||
Pascack Road, Llc Receivables Purchase Agreement [Member] | Subsequent Event [Member] | |||||||||||||||||||||||||||||
Subsequent Events (Textual) | |||||||||||||||||||||||||||||
Sale of stock received | $ 200 | ||||||||||||||||||||||||||||
Mantra Convertible Note Assignments [Member] | Subsequent Event [Member] | Rdw Capital Llc [Member] | |||||||||||||||||||||||||||||
Subsequent Events (Textual) | |||||||||||||||||||||||||||||
Note receivable | $ 105 | $ 105 | |||||||||||||||||||||||||||
Note receivable exchange for cash | $ 100 | $ 100 | |||||||||||||||||||||||||||
Exchange Agreement Conversions [Member] | Dominion Capital Llc [Member] | |||||||||||||||||||||||||||||
Subsequent Events (Textual) | |||||||||||||||||||||||||||||
Issuance of common stock upon conversion of debt, Shares | 317,932 | ||||||||||||||||||||||||||||
Principal and accrued interest of note outstanding | $ 30 |
Restatement of Previously Iss_3
Restatement of Previously Issued Financial Statements (Details) - $ / shares | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Basic income (loss) per share attributable to InterCloud Systems, Inc. common stockholders: | ||
Net income from continuing operations | $ (14.04) | $ (198.45) |
Net gain (loss) on discontinued operations, net of taxes | (0.51) | (54.09) |
Net income per share | $ (14.55) | $ (252.54) |
Weighted average common shares outstanding, basic and diluted | 3,046,643 | 104,866 |
As Reported [Member] | ||
Basic income (loss) per share attributable to InterCloud Systems, Inc. common stockholders: | ||
Net income from continuing operations | $ (19.82) | |
Net gain (loss) on discontinued operations, net of taxes | (5.40) | |
Net income per share | $ (25.23) | |
Weighted average common shares outstanding, basic and diluted | 1,049,866 |
Restatement of Previously Iss_4
Restatement of Previously Issued Financial Statements (Details Textual) - $ / shares | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Restatement of Previously Issued Financial Statements (Textual) | ||
Weighted average common shares outstanding, basic and diluted | 3,046,643 | 104,866 |
Net income (loss) on discontinued operations, net of taxes | $ (0.51) | $ (54.09) |
Net income from continuing operations | (14.04) | (198.45) |
Net loss per share | (14.55) | (252.54) |
Loss per share attributable to InterCloud Systems, Inc. common stockholders, basic and diluted: | $ (10.26) | $ (239.93) |
Previously Reported [Member] | ||
Restatement of Previously Issued Financial Statements (Textual) | ||
Weighted average common shares outstanding, basic and diluted | 1,049,866 | |
Net income (loss) on discontinued operations, net of taxes | $ (5.40) | |
Net income from continuing operations | (19.82) | |
Net loss per share | $ (25.23) |