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 flow from operating activities    
Net loss $ (12,039) $ (9,309)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation expense 335 185
Amortization of right of use asset 623 460
Amortization of intangible assets 5 5
Non-cash interest income (88)
Non-cash interest expense 25
Stock based compensation 369 309
Change in fair value of derivative liabilities 1,091 (696)
Loss (gain) on disposal of equipment 1 (144)
Non-cash other income – forgiveness of loans (391)
Changes in operating assets and liabilities:    
Bad debt expense (7)
Account and other receivables (26) (61)
Prepaid expenses and other assets 13 (149)
Inventories (140) (110)
Accounts payable and accrued liabilities 226 264
Other liabilities (128) (26)
Payments on operating lease liability (586) (401)
Net cash used in operating activities (10,263) (10,127)
Cash flows from investing activities    
Purchase of property and equipment (1,405) (3,744)
Proceeds from note receivable, net of imputed interest 1,944
Proceeds from the sale of property and equipment 1 144
Cash acquired in acquisition (see Note 2) 303
Net cash used in investing activities (1,101) (1,656)
Cash flows from financing activities    
Proceeds from issuance of preferred stock recorded as derivative liabilities, net 3,842
Proceeds from issuance of preferred stock, net 3
Proceeds from issuance of common stock in connection with exercise of warrants 196
Principal payment on debt (509)
Proceeds from issuance of debt 509
Net cash provided by financing activities 3,336 705
Net decrease in cash and cash equivalents (8,028) (11,078)
Cash and cash equivalents at beginning of year 14,273 25,351
Cash and cash equivalents at end of year 6,245 14,273
Noncash investing and financing activities    
Right-of-use assets and assumption of operating lease liability 27 918
Extinguishment of derivative liabilities through exercise of warrants 195
Acquisition of subsidiary through assumption of debt (see Note 2) 22
Conversion of preferred stock to common stock 3
Supplemental cash flow information    
Cash paid for interest $ 1