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
 3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (4,386) $ (4,811)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 117 124
Amortization of debt issuance costs 62 59
Gain on change in estimated fair value of contingent royalty obligation (220) (29)
Share based compensation 222 521
Impairment of inventory 165 159
Issuance of common stock for board of directors’ compensation 57
Amortization on operating lease right-of-use asset 73 79
Changes in operating assets and liabilities:    
Accounts receivable 7 91
Inventory 22 (376)
Prepaid expenses and other current assets (312) (378)
Accounts payable and accrued expenses (472) (658)
Operating lease liabilities - current and non-current (74) (82)
Other current and non-current liabilities (6) (2)
Net cash used in operating activities (4,802) (5,246)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of fixed assets (39) (1)
Net cash used in investing activities (39) (1)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from issuance of common shares 121 3,116
Repayment of debt (655)
Equity financing fees (19) (94)
Net cash (used in) provided by financing activities (553) 3,022
NET DECREASE IN CASH AND CASH EQUIVALENTS (5,394) (2,225)
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 14,042 22,563
CASH AND CASH EQUIVALENTS AT END OF PERIOD 8,648 20,338
CASH PAID FOR:    
Interest 246 244
SUPPLEMENTAL DISCLOSURE OF NON-CASH FINANCING ACTIVITIES:    
Common stock issued for prepaid board of directors’ compensation 178
Reclassification of prepaid expenses to fixed assets 4
Reclassification of inventory to fixed assets 14 12
Purchase of fixed assets in accounts payable and accrued expenses 45
Financing fees included in accounts payable and accrued expenses 17
Right-of-use asset obtained in exchange for lease obligation 35 35
Prepaid expenses resulting from right-of-use asset obtained $ 3