Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Cash flow from operating activities    
Net loss $ (7,029) $ (4,797)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation expense 78 102
Amortization of right of use asset 415 363
Amortization of intangible assets 5 5
Non-cash interest income (299) (443)
Stock based compensation 45 2
Change in fair value of derivative liabilities (2,111) (1,303)
Offering costs 325
Bad debt expense (3)
Changes in operating assets and liabilities:    
Account and other receivables 94 131
Prepaid expenses and other current assets (91) 19
Inventories 153 37
Accounts payable and accrued liabilities (350) 216
Payments on operating lease liability (347) (764)
Net cash used in operating activities (9,112) (6,435)
Cash flows from investing activities    
Purchase of property and equipment (360) (147)
Proceeds from note receivable, net of imputed interest 2,111 1,528
Net cash provided by investing activities 1,751 1,381
Cash flows from financing activities    
Proceeds from issuance of warrant derivative liabilities 6,328
Proceeds from issuance of common stock, net of fees 19,995 1,451
Proceeds from issuance of preferred stock, net of fees 3,112
Proceeds from issuance of common stock in connection with exercise of warrants 1,111 103
Capital raise costs (157)
Principal payment on debt (27) (3)
Proceeds from issuance of debt 406
Net cash provided by financing activities 30,925 1,394
Net increase (decrease) in cash and cash equivalents 23,564 (3,660)
Cash and cash equivalents at beginning of year 1,787 5,447
Cash and cash equivalents at end of year 25,351 1,787
Noncash investing and financing activities    
Extinguishment of derivative liabilities through exercise of warrants 3,199 44
Change in par value due to conversion of preferred stock to common stock 65 11
Issuance of Common Stock for the Cashless Exercise of Warrants 35
Right-of-Use Assets and assumption of operating lease liability 2,704
Issuance of debt for equipment 21
Supplemental cash flow information    
Cash paid for interest $ 2 $ 4