Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.22.2.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (14,915) $ (14,215)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 381 318
Amortization of debt issuance costs 195 32
Loss on change in estimated fair value of contingent royalty obligation 29 152
Share based compensation 1,423 2,777
Issuance of common stock for board of directors’ compensation 177 174
Issuance of common stock for consultants 53
Loss on extinguishment of debt 237
Impairment of inventory 159 186
Impairment of fixed assets 46
Amortization on operating lease right-of-use asset 253 152
Changes in operating assets and liabilities:    
Accounts receivable (52) (146)
Inventory (843) 48
Prepaid expenses and other current assets (167) (97)
Accounts payable and accrued expenses 79 38
Operating lease liabilities - current and non-current (255) (163)
Other current liabilities 61 (51)
Net cash used in operating activities (13,429) (10,505)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of fixed assets (215) (425)
Net cash used in investing activities (215) (425)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from issuance of common shares 4,544 1,900
Fractional shares paid in cash pursuant to reverse stock split (11)
Proceeds from exercise and purchase of warrants 11,959
Borrowings under convertible note and long-term debt 9,000
Repayment of term debt (8,220)
Payment of debt issuance costs (437)
Equity financing fees (158) (439)
Net cash provided by financing activities 4,375 13,763
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS (9,269) 2,833
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 22,563 20,819
CASH AND CASH EQUIVALENTS AT END OF PERIOD 13,294 23,652
SUPPLEMENTAL CASH FLOW INFORMATION:    
Interest 779 443
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES:    
Common stock issued to settle accrued expenses for board of directors’ compensation 56
Common stock issued for prepaid board of directors’ compensation 58 61
Reclassification of inventory to fixed assets 163 56
Reclassification of prepaid expenses to fixed assets 4 75
Purchase of fixed assets in accounts payable and accrued expenses 12 22
Financing costs included in accounts payable and accrued expenses 13
Warrants issued related to convertible note and long-term debt recorded as debt discount 165
Accrued end of loan payment recorded as debt discount 88
Operating lease liabilities arising from obtaining right-of-use assets $ 3 $ 135