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
Sep. 30, 2023
Dec. 31, 2022
Current Assets:    
Cash $ 3,266 $ 1,101
Marketable securities 5,508
Accounts receivable, net 1,158 222
Inventory 1,090 502
Prepaid expenses and other current assets 367 172
Total current assets 5,881 7,505
Goodwill 311 311
Intangibles, net 12 20
Property and equipment, net 1,737 721
Operating lease - right of use asset 1,911 1,737
Other assets 95 63
Total assets 9,947 10,357
Current Liabilities:    
Accounts payable 1,073 265
Accrued expenses and other current liabilities 152 130
Deferred revenue 34
Current portion of note payable 5 15
Warrant liability 146 242
Operating lease liability, current portion 233 207
Total current liabilities 1,643 859
Operating lease liability, net of current portion 1,774 1,593
Notes payable, net of current portion 274 268
Total liabilities 3,691 2,720
Commitments and Contingencies (Note 15)
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; 5,717,629 and 5,577,916 shares issued and outstanding as of September 30, 2023 and December 31, 2022, respectively 6 6
Additional paid-in capital 19,309 19,189
Accumulated deficit (13,617) (11,558)
Total NexGel stockholders’ equity 5,698 7,637
Non-controlling interest in joint venture 558
Total stockholders’ equity 6,256 7,637
Total liabilities and stockholders’ equity $ 9,947 $ 10,357