Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2023
Dec. 31, 2022
Current Assets:    
Cash $ 2,700 $ 1,101
Marketable securities 5,508
Accounts receivable, net 633 222
Inventory 1,319 502
Prepaid expenses and other current assets 400 172
Total current assets 5,052 7,505
Goodwill 1,128 311
Intangibles, net 326 20
Property and equipment, net 1,499 721
Operating lease - right of use asset 1,855 1,737
Other assets 95 63
Total assets 9,955 10,357
Current Liabilities:    
Accounts payable 1,233 265
Accrued expenses and other current liabilities 398 130
Deferred revenue 20
Current portion of note payable 80 15
Warrant liability 146 242
Contingent consideration liability 439
Operating lease liability, current portion 233 207
Total current liabilities 2,549 859
Operating lease liability, net of current portion 1,727 1,593
Notes payable, net of current portion 513 268
Total liabilities 4,789 2,720
Commitments and Contingencies (Note 16)
STOCKHOLDERS’ EQUITY    
Preferred stock, par value $0.001 per share, 5,000,000 shares authorized, no shares issued and outstanding
Common stock, par value $0.001 per share, 25,000,000 shares authorized; 5,741,838 and 5,577,916 shares issued and outstanding as of December 31, 2023 and 2022, respectively 6 6
Additional paid-in capital 19,406 19,189
Accumulated deficit (14,715) (11,558)
Total NexGel stockholders’ equity 4,697 7,637
Non-controlling interest in joint venture 469
Total stockholders’ equity 5,166 7,637
Total liabilities and stockholders’ equity $ 9,955 $ 10,357