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
Mar. 31, 2023
Dec. 31, 2022
Current Assets:    
Cash $ 787 $ 1,101
Marketable securities 5,016 5,508
Accounts receivable, net 380 222
Inventory 968 502
Prepaid expenses and other current assets 129 172
Total current assets 7,280 7,505
Goodwill 311 311
Intangibles, net 16 20
Property and equipment, net 1,282 721
Operating lease - right of use asset 2,022 1,737
Other assets 95 63
Total assets 11,006 10,357
Current Liabilities:    
Accounts payable 987 265
Accrued expenses and other current liabilities 112 130
Notes payable, current portion 15 15
Warrant liability 176 242
Operating lease liability, current portion 232 207
Total current liabilities 1,522 859
Operating lease liability, net of current portion 1,864 1,593
Notes payable, net of current portion 266 268
Total liabilities 3,652 2,720
Commitments and Contingencies (Note 15)
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; 5,614,028 and 5,577,916 shares issued and outstanding as of March 31, 2023 and December 31, 2022, respectively 6 6
Additional paid-in capital 19,213 19,189
Accumulated deficit (12,372) (11,558)
Total NexGel stockholders’ equity 6,847 7,637
Non-controlling interest in joint venture 507
Total stockholders’ equity 7,354 7,637
Total liabilities and stockholders’ equity $ 11,006 $ 10,357