Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets (Unaudited)

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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Jun. 30, 2024
Dec. 31, 2023
Current Assets:    
Cash $ 1,069 $ 2,700
Accounts receivable, net 605 633
Inventory 1,446 1,319
Prepaid expenses and other current assets 468 400
Total current assets 3,588 5,052
Goodwill 1,128 1,128
Intangibles, net 855 326
Property and equipment, net 2,368 1,499
Operating lease - right of use asset 1,742 1,855
Other assets 95 95
Total assets 9,776 9,955
Current Liabilities:    
Accounts payable 1,245 1,233
Accrued expenses and other current liabilities 284 398
Deferred revenue 179 20
Current portion of note payable 87 80
Warrant liability 176 146
Contingent consideration liability 370 439
Financing lease liability, current portion 55
Operating lease liabilities, current portion 237 233
Total current liabilities 2,633 2,549
Operating lease liabilities, net of current portion 1,632 1,727
Financing lease liability, net of current portion 339
Notes payable, net of current portion 645 513
Total liabilities 5,249 4,789
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; 6,324,266 and 5,741,838 shares issued and outstanding as of June 30, 2024 and December 31, 2023, respectively 6 6
Additional paid-in capital 20,614 19,406
Accumulated deficit (16,453) (14,715)
Total NexGel stockholders’ equity 4,167 4,697
Non-controlling interest in joint venture 360 469
Total stockholders’ equity 4,527 5,166
Total liabilities and stockholders’ equity $ 9,776 $ 9,955