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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Icad Inc | NASDAQ:ICAD | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-0.02 | -1.34% | 1.47 | 1.43 | 1.88 | 1.51 | 1.45 | 1.50 | 62,830 | 05:00:09 |
☒ |
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
|
☐ |
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
|
Delaware
|
02-0377419
|
|
(State or other jurisdiction of
incorporation or organization)
|
(I.R.S. Employer
Identification No.)
|
|
98 Spit Brook Road, Suite 100, Nashua, NH
|
03062
|
|
(Address of principal executive offices)
|
(Zip Code)
|
Title of each class
|
Trading
symbol(s)
|
Name of each exchange
on which registered
|
||
Common Stock, $0.01 par value
|
ICAD
|
The Nasdaq Stock Market LLC
|
Large Accelerated filer | ☐ | Accelerated filer | ☒ | |||
Non-accelerated filer
|
☐ | Smaller reporting company | ☒ | |||
Emerging growth company | ☐ |
Page | ||||||
PART I
|
||||||
Item 1
|
||||||
3 | ||||||
4 | ||||||
5 | ||||||
6 | ||||||
8 | ||||||
Item 2
|
35 | |||||
Item 3
|
51 | |||||
Item 4
|
51 | |||||
PART II
|
||||||
Item 1
|
52 | |||||
Item 1A
|
53 | |||||
Item 6
|
55 | |||||
56 |
June 30,
|
December 31,
|
|||||||
Assets
|
2020
|
2019
|
||||||
Current assets:
|
||||||||
Cash and cash equivalents
|
$ | 24,225 | $ | 15,313 | ||||
Trade accounts receivable, net of allowance for doubtful accounts of $255 in 2020 and $136 in 2019
|
6,658 | 9,819 | ||||||
Inventory, net
|
3,348 | 2,611 | ||||||
Prepaid expenses and other current assets
|
1,452 | 1,453 | ||||||
|
|
|
|
|||||
Total current assets
|
35,683 | 29,196 | ||||||
|
|
|
|
|||||
Property and equipment, net of accumulated depreciation of $6,652 in 2020 and $6,510 in 2019
|
590 | 551 | ||||||
Operating lease assets
|
2,131 | 2,406 | ||||||
Other assets
|
110 | 50 | ||||||
Intangible assets, net of accumulated amortization of $8,338 in 2020 and $8,186 in 2019
|
1,037 | 1,183 | ||||||
Goodwill
|
8,362 | 8,362 | ||||||
|
|
|
|
|||||
Total assets
|
$ | 47,913 | $ | 41,748 | ||||
|
|
|
|
|||||
Liabilities and Stockholders’ Equity
|
||||||||
Current liabilities:
|
||||||||
Accounts payable
|
$ | 1,421 | $ | 1,990 | ||||
Accrued and other expenses
|
5,085 | 6,590 | ||||||
Notes payable - current portion
|
— | 4,250 | ||||||
Lease payable - current portion
|
813 | 758 | ||||||
Deferred revenue
|
5,466 | 5,248 | ||||||
|
|
|
|
|||||
Total current liabilities
|
12,785 | 18,836 | ||||||
|
|
|
|
|||||
Lease payable, long-term portion
|
1,497 | 1,837 | ||||||
Notes payable, long-term portion
|
6,937 | 2,003 | ||||||
Convertible debentures payable to
non-related
parties, at fair value
|
— | 12,409 | ||||||
Convertible debentures payable to related parties, at fair value
|
— | 1,233 | ||||||
Deferred revenue, long-term portion
|
198 | 356 | ||||||
Deferred tax
|
4 | 3 | ||||||
|
|
|
|
|||||
Total liabilities
|
21,421 | 36,677 | ||||||
|
|
|
|
|||||
Commitments and Contingencies (Note 7)
|
||||||||
Stockholders’ equity:
|
||||||||
Preferred stock, $0.01 par value: authorized 1,000,000 shares; none issued.
|
— | — | ||||||
Common stock, $0.01 par value: authorized 30,000,000 shares; issued 23,060,272
as of June 30, 2020 and
19,546,151
as of December 31, 2019. Outstanding
22,874,441
as of June 30, 2020 and
19,360,320
as of December 31, 2019.
|
231 | 195 | ||||||
Additional
paid-in
capital
|
266,211 | 230,615 | ||||||
Accumulated deficit
|
(238,535 | ) | (224,324 | ) | ||||
Treasury stock at cost, 185,831 shares in 2020 and 2019
|
(1,415 | ) | (1,415 | ) | ||||
|
|
|
|
|||||
Total stockholders’ equity
|
26,492 | 5,071 | ||||||
|
|
|
|
|||||
Total liabilities and stockholders’ equity
|
$ | 47,913 | $ | 41,748 | ||||
|
|
|
|
Three Months Ended June 30,
|
Six Months Ended June 30,
|
|||||||||||||||
2020
|
2019
|
2020
|
2019
|
|||||||||||||
Revenue:
|
||||||||||||||||
Products
|
$ | 2,888 | $ | 4,353 | $ | 6,683 | $ | 8,175 | ||||||||
Service and supplies
|
2,679 | 2,976 | 5,435 | 5,927 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total revenue
|
5,567 | 7,329 | 12,118 | 14,102 | ||||||||||||
Cost of revenue:
|
||||||||||||||||
Products
|
537 | 645 | 1,554 | 1,325 | ||||||||||||
Service and supplies
|
575 | 858 | 1,502 | 1,575 | ||||||||||||
Amortization and depreciation
|
98 | 100 | 195 | 194 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total cost of revenue
|
1,210 | 1,603 | 3,251 | 3,094 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Gross profit
|
4,357 | 5,726 | 8,867 | 11,008 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Operating expenses:
|
||||||||||||||||
Engineering and product development
|
1,878 | 2,139 | 4,089 | 4,266 | ||||||||||||
Marketing and sales
|
2,631 | 3,120 | 6,239 | 5,693 | ||||||||||||
General and administrative
|
2,110 | 1,858 | 4,642 | 3,404 | ||||||||||||
Amortization and depreciation
|
49 | 67 | 101 | 137 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total operating expenses
|
6,668 | 7,184 | 15,071 | 13,500 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Loss from operations
|
(2,311 | ) | (1,458 | ) | (6,204 | ) | (2,492 | ) | ||||||||
Interest expense
|
(115 | ) | (202 | ) | (245 | ) | (411 | ) | ||||||||
Other income
|
33 | 64 | 75 | 123 | ||||||||||||
Loss on extinguishment of debt
|
— | — | (341 | ) | — | |||||||||||
Loss on fair value of convertible debentures
|
— | (1,915 | ) | (7,464 | ) | (4,440 | ) | |||||||||
|
|
|
|
|
|
|
|
|||||||||
Other expense, net
|
(82 | ) | (2,053 | ) | (7,975 | ) | (4,728 | ) | ||||||||
Loss before income tax expense
|
(2,393 | ) | (3,511 | ) | (14,179 | ) | (7,220 | ) | ||||||||
|
|
|
|
|
|
|
|
|||||||||
Tax expense
|
(5 | ) | (19 | ) | (31 | ) | (27 | ) | ||||||||
|
|
|
|
|
|
|
|
|||||||||
Net loss and comprehensive loss
|
$ | (2,398 | ) | $ | (3,530 | ) | $ | (14,210 | ) | $ | (7,247 | ) | ||||
|
|
|
|
|
|
|
|
|||||||||
Net loss per share:
|
||||||||||||||||
Basic
|
$ | (0.11 | ) | $ | (0.20 | ) | $ | (0.67 | ) | $ | (0.42 | ) | ||||
|
|
|
|
|
|
|
|
|||||||||
Diluted
|
$ | (0.11 | ) | $ | (0.20 | ) | $ | (0.67 | ) | $ | (0.42 | ) | ||||
|
|
|
|
|
|
|
|
|||||||||
Weighted average number of shares used in computing loss per share:
|
||||||||||||||||
Basic
|
22,396 | 17,640 | 21,275 | 17,422 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Diluted
|
22,396 | 17,640 | 21,275 | 17,422 | ||||||||||||
|
|
|
|
|
|
|
|
For the Six Months ended
June 30,
|
||||||||
2020
|
2019
|
|||||||
(in thousands) | ||||||||
Cash flow from operating activities:
|
||||||||
Net loss
|
$ | (14,210 | ) | $ | (7,247 | ) | ||
Adjustments to reconcile net loss to net cash used for operating activities:
|
||||||||
Amortization
|
154 | 189 | ||||||
Depreciation
|
142 | 142 | ||||||
Bad debt provision
|
119 | 31 | ||||||
Stock-based compensation expense
|
2,077 | 516 | ||||||
Amortization of debt discount and debt costs
|
53
|
79 | ||||||
Loss on extinguishment of debt
|
341 | — | ||||||
Deferred tax expense
|
1 | — | ||||||
Change in fair value of convertible debentures
|
7,464 | 4,440 | ||||||
Changes in operating assets and liabilities:
|
||||||||
Accounts receivable
|
3,201 | (399 | ) | |||||
Inventory
|
(737 | ) | (671 | ) | ||||
Prepaid and other current assets
|
(19 | ) | 51 | |||||
Accounts payable
|
(569 | ) | 573 | |||||
Accrued expenses
|
(1,650 | ) | (184 | ) | ||||
Deferred revenue
|
60 | 76 | ||||||
|
|
|
|
|||||
Total adjustments
|
10,637 | 4,843 | ||||||
|
|
|
|
|||||
Net cash used for operating activities
|
(3,573 | ) | (2,404 | ) | ||||
|
|
|
|
|||||
Cash flow from investing activities:
|
||||||||
Additions to patents, technology and other
|
(6 | ) | (7 | ) | ||||
Additions to property and equipment
|
(180 | ) | (136 | ) | ||||
|
|
|
|
|||||
Net cash used for investing activities
|
(186 | ) | (143 | ) | ||||
|
|
|
|
|||||
Cash flow from financing activities:
|
||||||||
Stock option exercises
|
100 | 1,395 | ||||||
Taxes paid related to restricted stock issuance
|
— | (12 | ) | |||||
Principal payments of capital lease obligations
|
— | (6 | ) | |||||
Principal repayment of debt financing
|
(4,638 | ) | (800 | ) | ||||
Repayment of credit line
|
(2,000 | ) | — | |||||
Proceeds from debt financing
|
6,957 | — | ||||||
Debt issuance costs
|
(37 | ) | ||||||
Proceeds from issuance of common stock, net
|
12,289 | 9,352 | ||||||
|
|
|
|
|||||
Net cash provided by financing activities
|
12,671 | 9,929 | ||||||
|
|
|
|
|||||
Decrease in cash and equivalents
|
8,912 | 7,382 | ||||||
Cash and cash equivalents, beginning of period
|
15,313 | 12,185 | ||||||
|
|
|
|
|||||
Cash and cash equivalents, end of period
|
$ | 24,225 | $ | 19,567 | ||||
|
|
|
|
|||||
Supplemental disclosure of cash flow information:
|
||||||||
Interest paid
|
$ | 127 | $ | 335 | ||||
|
|
|
|
|||||
Taxes paid
|
$ | 31 | $ | 27 | ||||
|
|
|
|
|||||
Issuance of stock upon conversion of debentures
|
21,164 | — | ||||||
|
|
|
|
|||||
Right-of-use
|
$ | 69 | $ | 907 | ||||
|
|
|
|
Common Stock
|
Additional
|
|||||||||||||||||||||||
Number of
Shares Issued |
Par Value
|
Paid-in
Capital |
Accumulated
Deficit |
Treasury
Stock |
Stockholders’
Equity |
|||||||||||||||||||
Balance December 31, 2019
|
$ | 19,546,151 | 196 | $ | 230,615 | $ | (224,325 | ) | $ | (1,415 | ) | $ | 5,071 | |||||||||||
Issuance of common stock relative to vesting of restricted stock
|
68,724 | — | (131 | ) | (131 | ) | ||||||||||||||||||
Issuance of common stock pursuant to stock option plans
|
44,966 | 1 | 231 | 232 | ||||||||||||||||||||
Stock Issuance
Net
|
1,580,965 | 16 | 12,273 | — | — | 12,289 | ||||||||||||||||||
Issuance of stock upon conversion of Debentures
|
1,819,466 | 18 | 21,146 | — | — | 21,164 | ||||||||||||||||||
Stock-based compensation
|
2,077 | 2,077 | ||||||||||||||||||||||
Net loss
|
(14,210 | ) | (14,210 | ) | ||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Balance at June 30, 2020
|
$
|
23,060,272 | $ | 231 | $ | 266,211 | $ | (238,535 | ) | $ | (1,415 | ) | $ | 26,492 | ||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
Common Stock
|
Additional
|
|||||||||||||||||||||||
Number of
Shares Issued |
Par Value
|
Paid-in
Capital |
Accumulated
Deficit |
Treasury
Stock |
Stockholders’
Equity |
|||||||||||||||||||
Balance at March 31, 2020
|
21,425,916 | $ | 215 | $ | 252,420 | $ | (236,137 | ) | $ | (1,415 | )$ | $ | 15,083 | |||||||||||
Issuance of common stock relative to vesting of restricted stock
|
45,224 | — | (131 | ) | (131 | ) | ||||||||||||||||||
Issuance of common stock pursuant to stock option plans
|
8,167 | — | 36 | 36 | ||||||||||||||||||||
Stock Issuance
Net
|
1,580,965 | 16 | 12,273 | 12,289 | ||||||||||||||||||||
Stock-based compensation
|
1,613 | 1,613 | ||||||||||||||||||||||
Net loss
|
(2,398 | ) | (2,398 | ) | ||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Balance at June 30, 2020
|
23,060,272 | $ | 231 | $ | 266,211 | $ | (238,535 | ) | $ | (1,415 | ) | $ | 26,492 | |||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
Common Stock
|
Additional
|
|||||||||||||||||||||||
Number of
Shares Issued
|
Par Value
|
Paid-in
Capital
|
Accumulated
Deficit
|
Treasury
Stock
|
Stockholders’
Equity
|
|||||||||||||||||||
Balance at December 31, 2018
|
|
17,066,510
|
|
$
|
171
|
|
$
|
218,914
|
|
$
|
(210,774
|
)
|
$
|
(1,415
|
)
|
$
|
6,896
|
|
||||||
Issuance of common stock relative to vesting of restricted stock shares forfeited for tax obligations
|
|
71,122
|
|
|
1
|
|
|
(14
|
)
|
|
—
|
|
|
—
|
|
|
(13
|
)
|
||||||
Issuance of common stock pursuant to stock option plans
|
|
428,313
|
|
|
4
|
|
|
1,391
|
|
|
—
|
|
|
—
|
|
|
1,395
|
|
||||||
Stock Issuance Net
|
|
1,881,818
|
|
|
18
|
|
|
9,334
|
|
|
9,352
|
|
||||||||||||
Stock-based compensation
|
|
—
|
|
|
—
|
|
|
516
|
|
|
—
|
|
|
—
|
|
|
516
|
|
||||||
Net loss
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(7,247
|
)
|
—
|
|
(7,247
|
)
|
||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Balance at June 30, 2019
|
|
19,447,763
|
|
$
|
194
|
|
$
|
230,141
|
|
$
|
(218,021
|
)
|
$
|
(1,415
|
)
|
$
|
10,899
|
|
||||||
|
|
|
|
|
|
|
|
|
|
|
|
Common Stock
|
Additional
|
|||||||||||||||||||||||
Number of
Shares Issued
|
Par Value
|
Paid-in
Capital
|
Accumulated
Deficit
|
Treasury
Stock
|
Stockholders’
Equity
|
|||||||||||||||||||
Balance at March 31, 2019
|
|
17,500,265
|
|
$
|
175
|
|
$
|
220,296
|
|
$
|
(214,491
|
)
|
$
|
(1,415
|
)
|
$
|
4,565
|
|
||||||
Issuance of common stock relative to vesting of restricted stock shares forfeited for tax obligations
|
|
4,788
|
|
|
—
|
|
|
(13
|
)
|
|
—
|
|
|
—
|
|
|
(13
|
)
|
||||||
Issuance of common stock pursuant to stock option plans
|
|
60,892
|
|
|
1
|
|
|
220
|
|
|
—
|
|
|
—
|
|
|
221
|
|
||||||
Stock Issuance Net
|
|
1,881,818
|
|
|
18
|
|
|
9,334
|
|
|
9,352
|
|
||||||||||||
Stock-based compensation
|
|
—
|
|
|
—
|
|
|
304
|
|
|
—
|
|
|
—
|
|
|
304
|
|
||||||
Net loss
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(3,530
|
)
|
|
—
|
|
|
(3,530
|
)
|
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Balance at June 30, 2019
|
|
19,447,763
|
|
194
|
|
$
|
230,141
|
|
$
|
(218,021
|
)
|
$
|
(1,415
|
)
|
$
|
10,899
|
|
|||||||
|
|
|
|
|
|
|
|
|
|
|
|
Three months ended June 30, 2020
|
||||||||||||
Reportable Segments
|
||||||||||||
Detection
|
Therapy
|
Total
|
||||||||||
Major Goods/Service Lines
|
||||||||||||
Products
|
$ | 2,702 | $ | 575 | $ | 3,277 | ||||||
Service contracts
|
1,403 | 385 | 1,788 | |||||||||
Supply and source usage agreements
|
— | 490 | 490 | |||||||||
Other
|
12 | — | 12 | |||||||||
|
|
|
|
|
|
|||||||
$ | 4,117 | $ | 1,450 | $ | 5,567 | |||||||
|
|
|
|
|
|
|||||||
Timing of Revenue Recognition
|
||||||||||||
Goods transferred at a point in time
|
$ | 2,714 | $ | 605 | $ | 3,319 | ||||||
Services transferred over time
|
1,403 | 845 | 2,248 | |||||||||
|
|
|
|
|
|
|||||||
$ | 4,117 | $ | 1,450 | $ | 5,567 | |||||||
|
|
|
|
|
|
|||||||
Sales Channels
|
||||||||||||
Direct sales force
|
$ | 2,709 | $ | 805 | $ | 3,514 | ||||||
OEM partners
|
1,408 | — | 1,408 | |||||||||
Channel partners
|
— | 645 | 645 | |||||||||
|
|
|
|
|
|
|||||||
$ | 4,117 | $ | 1,450 | $ | 5,567 | |||||||
|
|
|
|
|
|
Six months ended June 30, 2020
|
||||||||||||
Reportable Segments
|
||||||||||||
Detection
|
Therapy
|
Total
|
||||||||||
Major Goods/Service Lines
|
||||||||||||
Products
|
$ | 5,802 | $ | 1,921 | $ | 7,723 | ||||||
Service contracts
|
2,750 | 732 | 3,482 | |||||||||
Supply and source usage agreements
|
— | 861 | 861 | |||||||||
Professional services
|
— | 11 | 11 | |||||||||
Other
|
41 | — | 41 | |||||||||
|
|
|
|
|
|
|||||||
$ | 8,593 | $ | 3,525 | $ | 12,118 | |||||||
|
|
|
|
|
|
|||||||
Timing of Revenue Recognition
|
||||||||||||
Goods transferred at a point in time
|
$ | 5,843 | $ | 1,988 | $ | 7,831 | ||||||
Services transferred over time
|
2,750 | 1,537 | 4,287 | |||||||||
|
|
|
|
|
|
|||||||
$ | 8,593 | $ | 3,525 | $ | 12,118 | |||||||
|
|
|
|
|
|
|||||||
Sales Channels
|
||||||||||||
Direct sales force
|
$ | 4,881 | $ | 2,274 | $ | 7,155 | ||||||
OEM partners
|
3,712 | — | 3,712 | |||||||||
Channel partners
|
— | 1,251 | 1,251 | |||||||||
|
|
|
|
|
|
|||||||
$ | 8,593 | $ | 3,525 | $ | 12,118 |
|
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
Three months ended June 30,
|
||||||||||||
Reportable Segments
|
||||||||||||
Detection
|
Therapy
|
Total
|
||||||||||
Major Goods/Service Lines
|
||||||||||||
Products
|
$ | 3,808 | $ | 1,050 | $ | 4,858 | ||||||
Service contracts
|
1,354 | 475 | 1,829 | |||||||||
Supply and source usage agreements
|
— | 526 | 526 | |||||||||
Professional services
|
— | 8 | 8 | |||||||||
Other
|
47 | 61 | 108 | |||||||||
|
|
|
|
|
|
|||||||
$ | 5,209 | $ | 2,120 | $ | 7,329 | |||||||
|
|
|
|
|
|
|||||||
Timing of Revenue Recognition
|
||||||||||||
Goods transferred at a point in time
|
$ | 3,808 | $ | 1,144 | $ | 4,952 | ||||||
Services transferred over time
|
1,401 | 976 | 2,377 | |||||||||
|
|
|
|
|
|
|||||||
$ | 5,209 | $ | 2,120 | $ | 7,329 | |||||||
|
|
|
|
|
|
|||||||
Sales Channels
|
||||||||||||
Direct sales force
|
$ | 2,863 | $ | 1,701 | $ | 4,564 | ||||||
OEM partners
|
2,346 | — | 2,346 | |||||||||
Channel partners
|
— | 419 | 419 | |||||||||
|
|
|
|
|
|
|||||||
$ | 5,209 | $ | 2,120 | $ | 7,329 | |||||||
|
|
|
|
|
|
Six months ended June 30, 2019
|
||||||||||||
Reportable Segments
|
||||||||||||
Detection
|
Therapy
|
Total
|
||||||||||
Major Goods/Service Lines
|
||||||||||||
Products
|
$ | 6,598 | $ | 2,569 | $ | 9,167 | ||||||
Service contracts
|
2,676 | 991 | 3,667 | |||||||||
Supply and source usage agreements
|
— | 1,063 | 1,063 | |||||||||
Professional services
|
— | 41 | 41 | |||||||||
Other
|
103 | 61 | 164 | |||||||||
|
|
|
|
|
|
|||||||
$
|
9,377 |
$
|
4,725 |
$
|
14,102 | |||||||
|
|
|
|
|
|
|||||||
Timing of Revenue Recognition
|
||||||||||||
Goods transferred at a point in time
|
$ | 6,598 | $ | 2,776 | $ | 9,374 | ||||||
Services transferred over time
|
2,779 | 1,949 | 4,728 | |||||||||
|
|
|
|
|
|
|||||||
$
|
9,377 |
$
|
4,725 |
$
|
14,102 | |||||||
|
|
|
|
|
|
|||||||
Sales Channels
|
||||||||||||
Direct sales force
|
$ | 4,974 | $ | 3,513 | $ | 8,487 | ||||||
OEM partners
|
4,403 | — | 4,403 | |||||||||
Channel partners
|
— | 1,212 | 1,212 | |||||||||
|
|
|
|
|
|
|||||||
$
|
9,377 |
$
|
4,725 |
$
|
14,102 | |||||||
|
|
|
|
|
|
Balance at
June 30, 2020 |
||||
Receivables, which are included in ‘Trade accounts receivable’
|
$ | 6,658 | ||
Contract assets, which are included in “Prepaid and other current assets”
|
21 | |||
Contract liabilities, which are included in “Deferred revenue”
|
5,664 |
Contract liabilities
|
June 30, 2020
|
December 31, 2019
|
||||||
Short term
|
$ | 5,466 | $ | 5,248 | ||||
Long term
|
198 | 356 | ||||||
|
|
|
|
|||||
Total
|
$ | 5,664 | $ | 5,604 | ||||
|
|
|
|
Six Months Ended
|
||||
June 30, 2020
|
||||
Balance at beginning of period
|
$ | 5,604 | ||
Deferral of revenue
|
5,078 | |||
Recognition of deferred revenue
|
(5,018 | ) | ||
|
|
|||
Balance at end of period
|
$ | 5,664 | ||
|
|
Three Months Ended
June 30, |
Six Months Ended
June 30, |
|||||||||||||||
2020
|
2019
|
2020
|
2019
|
|||||||||||||
Net loss
|
$
|
(2,398
|
)
|
$
|
(3,530
|
)
|
$
|
(14,210
|
)
|
$
|
(7,247
|
)
|
||||
|
|
|
|
|
|
|
|
|||||||||
Shares used in the calculation of basic and diluted net loss per share
|
22,396 | 17,640 | 21,275 | 17,422 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Diluted shares used in the calculation of net loss per share
|
22,396 | 17,640 | 21,275 | 17,422 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Net loss per share - basic and diluted
|
$ | (0.11 | ) | $ | (0.20 | ) | $ | (0.67 | ) | $ | (0.42 | ) |
Period Ended
|
||||||||
June 30,
|
||||||||
2020
|
2019
|
|||||||
Stock options
|
2,006,221 | 1,519,713 | ||||||
Restricted stock
|
70,992 | 262,732 | ||||||
Convertible Debentures
|
— | 1,742,500 | ||||||
|
|
|
|
|||||
Total
|
2,077,213 | 3,524,945 | ||||||
|
|
|
|
As of June 30,
2020
|
As of December 31,
2019
|
|||||||
Raw materials
|
$ | 1,734 | $ | 1,572 | ||||
Work in process
|
159 | 39 | ||||||
Finished Goods
|
1,675 | 1,469 | ||||||
|
|
|
|
|||||
Inventory Gross
|
3,568 | 3,080 | ||||||
Inventory Reserve
|
(220 | ) | (469 | ) | ||||
|
|
|
|
|||||
Inventory Net
|
$ | 3,348 | $ | 2,611 | ||||
|
|
|
|
(a)
|
Loan and Security Agreement – Western Alliance Bank
|
(b)
|
Loan and Security Agreement – Silicon Valley Bank
|
(c)
|
Convertible Debentures
|
Input
|
December 31, 2019
|
February 21, 2019
|
||||||
Company’s stock price
|
$ | 7.77 | $ | 11.64 | ||||
Conversion price
|
4.00 | 4.00 | ||||||
Remaining term (years)
|
1.97 | 0.00 | ||||||
Equity volatility
|
49.00 | % | N/A | |||||
Risk free rate
|
1.57 | % | N/A | |||||
1
Probabilty of default event
|
0.45 | % | N/A | |||||
1
Utilization of Forced Conversion (if available)
|
100.00 | % | 100.00 | % | ||||
1
Exercise of Default Redemption (if available)
|
100.00 | % | N/A | |||||
1
Effective discount rate
|
18.52 | % | N/A |
1
|
Represents a Level 3 unobservable input, as defined in Note 8 - Fair Value Measurements, below.
|
Convertible Debentures
|
December 31, 2019
|
February 21, 2020
|
||||||
Fair value, in accordance with fair value option
|
$ | 13,642 | $ | 21,164 | ||||
|
|
|
|
|||||
Principal value outstanding
|
$ | 6,970 | $ | 6,970 | ||||
|
|
|
|
(d)
|
Principal and Interest Payments Related to Financing Arrangements
|
Fiscal Year
|
Amount Due
|
|||
2020
|
$ | 188 | ||
2021
|
1,238 | |||
2022
|
2,875 | |||
2023
|
2,735 | |||
2024
|
1,004 | |||
|
|
|||
Total
|
$ | 8,040 | ||
|
|
Three Months Ended
June 30,
|
Six Months Ended
June 30,
|
|||||||||||||||
2020
|
2019
|
2020
|
2019
|
|||||||||||||
Cash interest expense
|
$ | 95 | $ | 75 | $ | 138 | $ | 157 | ||||||||
Interest on convertible debentures
|
— | 87 | 49 | 174 | ||||||||||||
Accrual of notes payable final payment
|
8 | 32 | 39 | 64 | ||||||||||||
Amortization of debt costs
|
12 | 7 | 19 | 14 | ||||||||||||
Interest expense capital lease
|
— | 1 | — | 2 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total interest expense
|
$ | 115 | $ | 202 | $ | 245 | $ | 411 | ||||||||
|
|
|
|
|
|
|
|
Lease Cost
|
Classification
|
Three Months Ended
June 30, 2020 |
||||
Operating lease cost
|
Operating expenses | $ | 224 | |||
Capital
lease costs
|
||||||
Amortization of leased assets
|
Amortization and depreciation | 4 | ||||
Interest on lease liabilities
|
Interest expense | — | ||||
|
|
|||||
Total
|
$ | 228 | ||||
|
|
Three Months Ended
June 30, 2020 |
||||
Cash paid for operating cash flows from operating leases
|
$ | 236 | ||
Cash paid for operating cash flows from
capital
leases
|
— | |||
Cash paid for financing cash flows from
capital
leases
|
4 |
As of June 30, 2020
|
||||
Weighted-average remaining lease term of operating leases (in
|
2.70 | |||
Weighted-average remaining lease term of
capital
leases (in years)
|
1.00 | |||
Weighted-average discount rate for operating leases
|
5.6 | % | ||
Weighted-average discount rate for
capital
leases
|
11.0 | % |
As of June 30, 2020:
|
|
Operating
Leases |
Finance Leases
|
Total
|
||||||||
2020
|
$
|
457 | 4 | 461 | ||||||||
2021
|
920 | — | 920 | |||||||||
2022
|
899 | — | 899 | |||||||||
2023
|
211 | — | 211 | |||||||||
2024
|
5 | — | 5 | |||||||||
|
|
|
|
|
|
|||||||
Total lease payments
|
2,492 | 4 | 2,496 | |||||||||
Less: imputed interest
|
(186 | ) | — | (186 | ) | |||||||
|
|
|
|
|
|
|||||||
Total lease liabilities
|
2,306 | 4 | 2,310 | |||||||||
Less: current portion of lease liabilities
|
(809 | ) | (4 | ) | (813 | ) | ||||||
|
|
|
|
|
|
|||||||
Long-term lease liabilities
|
$ | 1,497 | $ | — | $ | 1,497 | ||||||
|
|
|
|
|
|
Three Months Ended
|
Six Months Ended
|
|||||||
June 30,
|
June 30,
|
|||||||
2020
|
2019
|
2020
|
2019
|
|||||
Average risk-free interest rate
|
0.26% | 1.97% | 0.79% | 2.23% | ||||
Expected dividend yield
|
None | None | None | None | ||||
Expected life
|
3.5 years | 3.5 years | 3.5 years | 3.5 years | ||||
Expected volatility
|
64.0% to 65.7% | 51.9% to 54.2% | 50.2 to 65.7% | 51.9% to 54.2% | ||||
Weighted average exercise price
|
$10.76 | $5.81 | $10.11 | $4.78 | ||||
Weighted average fair value
|
$4.96 | $2.35 | $4.34 | $1.93 |
Three Months Ended
|
Six Months Ended
|
|||||||||||||||
June 30,
|
June 30,
|
|||||||||||||||
2020
|
2019
|
2020
|
2019
|
|||||||||||||
Cost of revenue
|
$ | 24 | $ | 1 | $ | 24 | $ | 2 | ||||||||
Engineering and product development
|
288 | 32 | 343 | 119 | ||||||||||||
Marketing and sales
|
490 | 57 | 548 | 116 | ||||||||||||
General and administrative
|
811 | 214 | 1,162 | 279 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
$ | 1,613 | $ | 304 | $ | 2,077 | $ | 516 | |||||||||
|
|
|
|
|
|
|
|
Remaining expense
|
$ | 1,442 | ||
Weighted average term
|
1.0 |
As of
|
||||||||
June 30,
|
||||||||
Aggregate intrinsic value
|
2020
|
2019
|
||||||
Stock options
|
$ | 8,992 | $ | 2,273 | ||||
Restricted stock
|
709 | 1,674 |
|
•
|
|
Level 1 - Quoted prices in active markets for identical assets or liabilities.
|
|
•
|
|
Level 2 - Inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities.
|
|
•
|
|
Level 3 - Unobservable inputs that are supported by little or no market activity and that are significant to the fair value.
|
Convertible Debenture | ||||
Balance, December 31,
|
$ | 13,642 | ||
Fair value
adjustments
|
7,522 | |||
Conversion
|
|
|
(21,164
|
)
|
|
|
|||
Balance, June 30, 2020
|
$ | — | ||
|
|
• |
significant underperformance relative to historical or projected future operating results;
|
• |
significant changes in the manner or use of the assets or the strategy for the Company’s overall business;
|
• |
significant negative industry or economic trends;
|
• |
significant decline in the Company’s stock price for a sustained period; and
|
• |
a decline in the Company’s market capitalization below net book value.
|
Consolidated
reporting unit |
Detection | Therapy | Total | |||||||||||||
Accumulated Goodwill
|
47,937 | $ | — | $ | — | 47,937 | ||||||||||
Accumulated impairment
|
(26,828 | ) | — | — | (26,828 | ) | ||||||||||
Fair value allocation
|
(21,109 | ) | 7,663 | 13,446 | — | |||||||||||
Acquisition of DermEbx and Radion
|
— | — | 6,154 | 6,154 | ||||||||||||
Acquisition measurement period adjustments
|
— | — | 116 | 116 | ||||||||||||
Acquisition of VuComp
|
— | 1,093 | — | 1,093 | ||||||||||||
Sale of MRI assets
|
— | (394 | ) | (394 | ) | |||||||||||
Impairment
|
— | — | (19,716 | ) | (19,716 | ) | ||||||||||
|
|
|
|
|
|
|
|
|||||||||
Prior to December 31, 201
9
|
— | 8,362 | — | 8,362 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Balance at June 30, 2020
|
$ | — | $ | 8,362 | $ | — | $ | 8,362 | ||||||||
|
|
|
|
|
|
|
|
|
•
|
|
A significant decrease in the market price of a long-lived asset (asset group);
|
|
•
|
|
A significant adverse change in the extent or manner in which a long-lived asset (asset group) is being used or in its physical condition;
|
|
•
|
|
A significant adverse change in legal factors or in the business climate that could affect the value of a long-lived asset (asset group), including an adverse action or assessment by a regulator;
|
|
•
|
|
An accumulation of costs significantly in excess of the amount originally expected for the acquisition or construction of a long-lived asset (asset group);
|
|
•
|
|
A current period operating, or cash flow loss combined with a history of operating or cash flow losses or a projection or forecast that demonstrates continuing losses associated with the use of a long-lived asset (asset group).
|
Three Months Ended
June 30, |
Six Months Ended
June 30, |
|||||||||||||||
2020 | 2019 | 2020 | 2019 | |||||||||||||
Segment revenues:
|
||||||||||||||||
Detection
|
$ | 4,117 | $ | 5,209 | $ | 8,593 | $ | 9,377 | ||||||||
Therapy
|
1,450 | 2,120 | 3,525 | 4,725 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total Revenue
|
$ | 5,567 | $ | 7,329 | $ | 12,118 | $ | 14,102 | ||||||||
|
|
|
|
|
|
|
|
|||||||||
Segment gross profit:
|
||||||||||||||||
Detection
|
$ | 3,533 | $ | 4,356 | $ | 7,000 | $ | 7,823 | ||||||||
Therapy
|
824 | 1,370 | 1,867 | $ | 3,185 | |||||||||||
|
|
|
|
|
|
|
|
|||||||||
Segment gross profit
|
$ | 4,357 | $ | 5,726 | $ | 8,867 | $ | 11,008 | ||||||||
|
|
|
|
|
|
|
|
|||||||||
Segment operating income (loss):
|
||||||||||||||||
Detection
|
$ | 201 | $ | 673 | $ | (145 | ) | $ | 975 | |||||||
Therapy
|
(432 | ) | (264 | ) | (1,438 | ) | $ | (43 | ) | |||||||
|
|
|
|
|
|
|
|
|||||||||
Segment operating income (loss)
|
$ | (231 | ) | $ | 409 | $ | (1,583 | ) | $ | 932 | ||||||
|
|
|
|
|
|
|
|
|||||||||
General, administrative, depreciation and amortization expense
|
$ | (2,080 | ) | $ | (1,867 | ) | $ | (4,621 | ) | $ | (3,424 | ) | ||||
Interest expense
|
(115 | ) | (202 | ) | (245 | ) | (411 | ) | ||||||||
Other income
|
33 | 64 | 75 | 123 | ||||||||||||
Loss on extinguishment of debt
|
— | — | (341 | ) | — | |||||||||||
Fair value of convertible debentures
|
— | (1,915 | ) | (7,464 | ) | (4,440 | ) | |||||||||
|
|
|
|
|
|
|
|
|||||||||
Loss before income tax
|
$ | (2,393 | ) | $ | (3,511 | ) | $ | (14,179 | ) | $ | (7,220 | ) | ||||
|
|
|
|
|
|
|
|
Item 2.
|
Management’s Discussion and Analysis of Financial Condition and Results of Operations
|
Three months ended June 30,
|
||||||||||||||||
2020
|
2019
|
$ Change
|
% Change
|
|||||||||||||
Detection revenue
|
||||||||||||||||
Product revenue
|
$ | 2,702 | $ | 3,808 | $ | (1,106 | ) | (29.0 | )% | |||||||
Service revenue
|
1,415 | 1,401 | 14 | 1.0 | % | |||||||||||
|
|
|
|
|
|
|
|
|||||||||
Subtotal
|
4,117 | 5,209 | (1,092 | ) | (21.0 | )% | ||||||||||
|
|
|
|
|
|
|
|
|||||||||
Therapy revenue
|
||||||||||||||||
Product revenue
|
186 | 545 | (359 | ) | (65.9 | )% | ||||||||||
Service revenue
|
1,264 | 1,575 | (311 | ) | (19.7 | )% | ||||||||||
|
|
|
|
|
|
|
|
|||||||||
Subtotal
|
1,450 | 2,120 | (670 | ) | (31.6 | )% | ||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total revenue
|
$ | 5,567 | $ | 7,329 | $ | (1,762 | ) | (24.0 | )% | |||||||
|
|
|
|
|
|
|
|
Six months ended June 30,
|
||||||||||||||||
2020
|
2019
|
$ Change
|
% Change
|
|||||||||||||
Detection revenue
|
||||||||||||||||
Product revenue
|
$ | 5,802 | $ | 6,598 | $ | (796 | ) | (12.1 | )% | |||||||
Service revenue
|
2,791 | 2,779 | 12 | 0.4 | % | |||||||||||
|
|
|
|
|
|
|
|
|||||||||
Subtotal
|
8,593 | 9,377 | (784 | ) | (8.4 | )% | ||||||||||
|
|
|
|
|
|
|
|
|||||||||
Therapy revenue
|
||||||||||||||||
Product revenue
|
881 | 1,577 | (696 | ) | (44.1 | )% | ||||||||||
Service revenue
|
2,644 | 3,148 | (504 | ) | (16.0 | )% | ||||||||||
|
|
|
|
|
|
|
|
|||||||||
Subtotal
|
3,525 | 4,725 | (1,200 | ) | (25.4 | )% | ||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total revenue
|
$ | 12,118 | $ | 14,102 | $ | (1,984 | ) | (14.1 | )% | |||||||
|
|
|
|
|
|
|
|
Three months ended June 30,
|
||||||||||||||||
2020
|
2019
|
$ Change
|
% Change
|
|||||||||||||
Products
|
$ | 537 | $ | 645 | $ | (108 | ) | (16.7 | )% | |||||||
Service and supplies
|
575 | 858 | (283 | ) | (33.0 | )% | ||||||||||
Amortization and depreciation
|
98 | 100 | (2 | ) | (2.0 | )% | ||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total cost of revenue
|
$ | 1,210 | $ | 1,603 | $ | (393 | ) | (24.5 | )% | |||||||
|
|
|
|
|
|
|
|
|||||||||
Gross profit
|
$ | 4,357 | $ | 5,726 | $ | (1,369 | ) | (23.9 | )% | |||||||
|
|
|
|
|
|
|
|
|||||||||
Three months ended June 30,
|
||||||||||||||||
2020
|
2019
|
$ Change
|
% Change
|
|||||||||||||
Detection gross profit
|
$ | 3,533 | $ | 4,356 | $ | (823 | ) | (18.9 | %) | |||||||
Therapy gross profit
|
824 | 1,370 | (546 | ) | (39.9 | %) | ||||||||||
|
|
|
|
|
|
|
|
|||||||||
Gross profit
|
$ | 4,357 | $ | 5,726 | $ | (1,369 | ) | (23.9 | )% | |||||||
|
|
|
|
|
|
|
|
Six months ended June 30,
|
||||||||||||||||
2020
|
2019
|
$ Change
|
% Change
|
|||||||||||||
Products
|
$ | 1,554 | $ | 1,325 | $ | 229 | 17.3 | % | ||||||||
Service and supplies
|
1,502 | 1,575 | (73 | ) | (4.6 | )% | ||||||||||
Amortization and depreciation
|
195 | 194 | 1 | 0.5 | % | |||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total cost of revenue
|
$ | 3,251 | $ | 3,094 | $ | 157 | 5.1 | % | ||||||||
|
|
|
|
|
|
|
|
|||||||||
Gross profit
|
$ | 8,867 | $ | 11,008 | $ | (2,141 | ) | (19.4 | )% | |||||||
|
|
|
|
|
|
|
|
|||||||||
Six months ended June 30,
|
||||||||||||||||
2020
|
2019
|
$ Change
|
% Change
|
|||||||||||||
Detection gross profit
|
$ | 7,000 | $ | 7,823 | $ | (823 | ) | (10.5 | %) | |||||||
Therapy gross profit
|
1,867 | 3,185 | (1,318 | ) | (41.4 | %) | ||||||||||
|
|
|
|
|
|
|
|
|||||||||
Gross profit
|
8,867 | 11,008 | (2,141 | ) | (19.4 | %) | ||||||||||
|
|
|
|
|
|
|
|
Three months ended June 30,
|
||||||||||||||||
2020 | 2019 | Change | Change % | |||||||||||||
Operating expenses:
|
||||||||||||||||
Engineering and product development
|
$ | 1,878 | $ | 2,139 | $ | (261 | ) | (12.2 | )% | |||||||
Marketing and sales
|
2,631 | 3,120 | (489 | ) | (15.7 | )% | ||||||||||
General and administrative
|
2,110 | 1,858 | 252 | 13.6 | % | |||||||||||
Amortization and depreciation
|
49 | 67 | (18 | ) | (26.9 | )% | ||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total operating expenses
|
$ | 6,668 | $ | 7,184 | $ | (516 | ) | (7.2 | )% | |||||||
|
|
|
|
|
|
|
|
Six months ended June 30,
|
||||||||||||||||
2020 | 2019 | Change | Change % | |||||||||||||
Operating expenses:
|
||||||||||||||||
Engineering and product development
|
$ | 4,089 | $ | 4,266 | $ | (177 | ) | (4.1 | )% | |||||||
Marketing and sales
|
6,239 | 5,693 | 546 | 9.6 | % | |||||||||||
General and administrative
|
4,642 | 3,404 | 1,238 | 36.4 | % | |||||||||||
Amortization and depreciation
|
101 | 137 | (36 | ) | (26.3 | )% | ||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total operating expenses
|
$ | 15,071 | $ | 13,500 | $ | 1,571 | 11.6 | % | ||||||||
|
|
|
|
|
|
|
|
Three months ended June 30,
|
||||||||||||||||
2020 | 2019 | Change | Change % | |||||||||||||
Interest expense
|
$ | (115 | ) | $ | (202 | ) | $ | 87 | (43.1 | )% | ||||||
Other income
|
33 | 64 | (31 | ) | (48.4 | )% | ||||||||||
Loss on fair value of debentures
|
— | (1,915 | ) | 1,915 | (100.0 | )% | ||||||||||
|
|
|
|
|
|
|
|
|||||||||
$ | (82 | ) | $ | (2,053 | ) | $ | 1,971 | (96.0 | )% | |||||||
|
|
|
|
|
|
|
|
|||||||||
Tax benefit (expense)
|
(5 | ) | (19 | ) | 14 | (73.7 | )% |
Six months ended June 30,
|
||||||||||||||||
2020 | 2019 | Change | Change % | |||||||||||||
Interest expense
|
$ | (245 | ) | $ | (411 | ) | $ | 166 | (40.4 | )% | ||||||
Other income
|
75 | 123 | (48 | ) | (39.0 | )% | ||||||||||
Loss on fair value of debentures
|
(7,464 | ) | (4,440 | ) | (3,024 | ) | 68.1 | % | ||||||||
|
|
|
|
|
|
|
|
|||||||||
$ | (7,634 | ) | $ | (4,728 | ) | $ | (2,906 | ) | 61.5 | % | ||||||
|
|
|
|
|
|
|
|
|||||||||
Tax expense
|
$ | (31 | ) | $ | (27 | ) | $ | (4 | ) | 14.8 | % |
For the six-months ended June 30,
|
||||||||
2020
|
2019
|
|||||||
(in thousands) | ||||||||
Net cash used for operating activities
|
$ | (3,573 | ) | $ | (2,404 | ) | ||
Net cash used for investing activities
|
(186 | ) | (143 | ) | ||||
Net cash provided by financing activities
|
12,671 | 9,929 | ||||||
|
|
|
|
|||||
Decrease in cash and equivalents
|
$ | 8,912 | $ | 7,382 | ||||
|
|
|
|
Total
|
Less than 1
year |
1-3
years
|
3-5
years
|
5+ years
|
||||||||||||||||
Operating Lease Obligations
|
$ | 2,496,532 | $ | 922,858 | $ | 1,564,314 | $ | 9,360 | $ | — | ||||||||||
Finance Lease Obligations
|
4,683 | 4,683 | — | — | — | |||||||||||||||
Settlement Obligations
|
463,262 | 463,262 | — | — | — | |||||||||||||||
Notes Payable
|
8,039,336 | 372,604 | 5,312,740 | 2,353,992 | — | |||||||||||||||
Other Commitments
|
4,456,329 | 4,456,329 | — | — | — | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Total Contractual Obligations
|
$ | 15,460,143 | $ | 6,219,737 | $ | 6,877,054 | $ | 2,363,352 | $ | — | ||||||||||
|
|
|
|
|
|
|
|
|
|
Item 3.
|
Quantitative and Qualitative Disclosures about Market Risk
|
Item
4.
|
Controls and Procedures
|
Item 1.
|
Legal Proceedings
|
Item 1A.
|
Risk Factors:
|
Item
6.
|
Exhibits
|
* |
Filed herewith
|
** |
Furnished herewith
|
† |
Portions of this exhibit, marked by brackets, have been omitted pursuant to Item 601(b)(10)(iv) of Regulation
S-K
under the Securities Act of 1933, as amended, because they are both (i) not material and (ii) would likely cause competitive harm to the registrant if publicly disclosed.
|
iCAD, Inc.
|
||||||
(Registrant) | ||||||
Date
: August 7, 2020
|
By: |
/s/ Michael Klein
|
||||
Name: | Michael Klein | |||||
Title: | Chief Executive Officer | |||||
(Principal Executive Officer) | ||||||
Date
: August 7, 2020
|
By: |
/s/ R. Scott Areglado
|
||||
Name: | R. Scott Areglado | |||||
Title: | Chief Financial Officer | |||||
(Principal Financial Officer) |
1 Year Icad Chart |
1 Month Icad Chart |
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