Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.23.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (18,597) $ (19,033)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 510 439
Amortization of debt issuance costs 330 95
(Gain) loss on change in estimated fair value of contingent royalty obligation (548) 143
Share-based compensation 1,809 3,472
Issuance of common stock for board of directors’ compensation 235 235
Issuance of common stock for consultants 53
Loss on extinguishment of debt 237
Impairment of inventory 598 443
Impairment of fixed assets 46
Amortization on operating lease right of use asset 327 262
Changes in operating assets and liabilities:    
Accounts receivable 50 (74)
Inventory (1,302) (274)
Prepaid expenses and other current assets 12 (413)
Accounts payable and accrued expenses (650) 303
Operating lease liability (330) (260)
Other current and non-current liabilities 43 (50)
Net cash used in operating activities (17,467) (14,422)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of fixed assets (224) (470)
Net cash used in investing activities (224) (470)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from issuance of common shares 10,252 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 12,000
Repayment of debt (703) (8,220)
Payment of debt issuance costs (563)
Equity financing fees (368) (440)
Net cash provided by financing activities 9,170 16,636
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS (8,521) 1,744
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 22,563 20,819
CASH AND CASH EQUIVALENTS AT END OF PERIOD 14,042 22,563
CASH PAID FOR:    
Interest 977 640
SUPPLEMENTAL DISCLOSURE OF NON-CASH FINANCING AND INVESTING ACTIVITIES:    
Common stock issued to settle accrued expenses for board of directors’ compensation 56
Reclassification of inventory to fixed assets 201 140
Reclassification of prepaid expenses to fixed assets 4 75
Purchase of fixed assets in accounts payable and accrued expenses 24 4
Warrants issued related to convertible note and long-term debt recorded as debt discount 165
Accrued end of loan payment recorded as debt discount 140
Operating lease liabilities arising from obtaining right-of-use assets 66 184
Prepayment of lease obligation $ 17