Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flow (Unaudited)

v3.8.0.1
Condensed Consolidated Statements of Cash Flow (Unaudited) - USD ($)
 3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Cash flow from operating activities    
Net loss $ (3,399,000) $ (512,000)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation expense 148,000 162,000
Amortization of intangible assets 134,000 134,000
Amortization of lease incentive for tenant improvements 15,000 5,000
Non-cash interest expense 410,000 224,000
Loss on extinguishment of debt 340,000
Stock based compensation 24,000 60,000
Change in fair value of derivative liabilities (811,000) (1,780,000)
Gain on disposal of equipment (2,000)
Loss on extinguishment of derivative liabilities 1,252,000
Provision for inventory reserve 150,000
Offering costs 131,000
Changes in operating assets and liabilities:    
Trade accounts receivable (331,000) (82,000)
Prepaid expenses and other current assets (191,000) 47,000
Inventories 15,000 90,000
Accounts payable and accrued liabilities 314,000 (462,000)
Net cash used in operating activities (2,082,000) (1,833,000)
Cash flows from investing activities    
Purchase of property and equipment (34,000) (292,000)
Purchase of intangible asset (50,000)
Proceeds from sale of property and equipment 3,000
Net cash used in investing activities (81,000) (292,000)
Cash flows from financing activities    
Proceeds from issuance of stock in connection with exercise of warrants, net of issuance costs 1,328,000
Proceeds from issuance of debt 705,000
Payments on debt (1,653,000)
Proceeds from issuance of common stock, net of issuance costs 3,128,000
Proceeds from issuance of warrant derivative liability 679,000
Net cash provided by financing activities 2,033,000 2,154,000
Net increase (decrease) in cash and cash equivalents (130,000) 29,000
Cash and cash equivalents at beginning of period 539,000 6,915,000
Cash and cash equivalents at end of period 409,000 6,944,000
Noncash investing and financing activities    
Debt exchange $ 2,265,000
Payment of debt with common stock 1,453
Warrants issued in association with debt $ 98,000
Supplemental cash flow information    
Cash paid for interest $ 72,000 $ 136,000