Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (7,383) $ (9,951)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 230 253
Amortization of debt issuance costs 123 125
Gain (loss) on change in estimated fair value of contingent royalty obligation (156) 63
Share based compensation 271 982
Impairment of inventory 195 159
Impairment of fixed assets 36
Issuance of common stock for board of directors’ compensation 118
Amortization on operating lease right-of-use asset 121 175
Changes in operating assets and liabilities:    
Accounts receivable (47) 28
Inventory (33) (764)
Prepaid expenses and other current assets 44 (407)
Accounts payable and accrued expenses (604) (459)
Operating lease liabilities – current and non-current (125) (177)
Other current and non-current liabilities (9) 8
Net cash used in operating activities (7,373) (9,811)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of fixed assets (88) (49)
Net cash used in investing activities (88) (49)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Gross proceeds from private placement offering 3,537
Repayment of debt (1,325)
Proceeds from issuance of common shares pursuant to at-the-market issuance registered offering 121 3,165
Equity financing fees (393) (111)
Net cash provided by financing activities 1,940 3,054
NET DECREASE IN CASH AND CASH EQUIVALENTS (5,521) (6,806)
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 14,042 22,563
CASH AND CASH EQUIVALENTS AT END OF PERIOD 8,521 15,757
CASH PAID FOR:    
Interest 476 511
SUPPLEMENTAL DISCLOSURE OF NON-CASH FINANCING ACTIVITIES:    
Common stock issued to settle accrued expenses for board of directors’ compensation
Common stock issued for prepaid board of directors’ compensation 117
Reclassification of prepaid expenses to fixed assets 4
Reclassification of inventory to fixed assets 14 62
Purchase of fixed assets in accounts payable and accrued expenses 12 75
Financing fees included in accounts payable and accrued expenses 93 5
Non-cash issuance costs from private placement 264
Right-of-use asset obtained in exchange for lease obligation 35 34
Prepaid expenses resulting from right-of-use asset obtained $ 3