NEXGEL, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Description of Business, the Spin-off and Basis of Presentation (Tables)

Description of Business, the Spin-off and Basis of Presentation (Tables)

6 Months Ended

Jun. 30, 2020

Description of Business, the Spin-off and Basis of Presentation

Schedule of net liabilities assumed pursuant to Spin-Off and in exchange

Pursuant to the Spin-Off and in exchange for the 5,005,211 shares of common stock, AquaMed assumed the following net liabilities from Parent as of June 21, 2019 ($ in thousands):


Assets:
Cash	$	186
Accounts receivable, net		72
Inventory, net		140
Prepaid expenses and other current assets		101
Property and equipment, net		155
Operating lease - right of use asset		976
Other assets		178
Total assets		1,808

Liabilities:
Accounts payable		(496)
Accrued expenses and other current liabilities		(395)
Operating lease liability - current		(207)
Long-term operating lease liability		(769)
Total liabilities		(1,867)

Net liabilities assumed in Spin-Off on June 21, 2019	$	(59)