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, 2023
Dec. 31, 2022
Cash flow from operating activities    
Net loss $ (8,259) $ (12,039)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation expense 907 335
Amortization of right of use asset 745 623
Amortization of intangible assets 5 5
Stock based compensation 291 369
Change in fair value of derivative liabilities (5,610) 1,091
Loss (gain) on disposal of equipment (17) 1
Credit loss expense (recoveries) 63 (7)
Changes in operating assets and liabilities:    
Account and other receivables (420) (26)
Prepaid expenses and other assets (264) 13
Inventories (485) (140)
Accounts payable and accrued liabilities (12) 226
Other liabilities (370) (128)
Payments on operating lease liability (689) (586)
Net cash used in operating activities (14,115) (10,263)
Cash flows from investing activities    
Purchase of property and equipment (530) (1,405)
Proceeds from the sale of property and equipment 29 1
Cash acquired in acquisition (see Note 2) 303
Net cash used in investing activities (501) (1,101)
Cash flows from financing activities    
Proceeds from issuance of warrant derivative liabilities 6,650
Proceeds from issuance of preferred stock recorded as derivative liabilities, net 3,842
Proceeds from issuance of common stock and prefunded warrants, net of cash fees 5,177
Proceeds from issuance of preferred stock, net 3
Redemption of preferred stock Series E (2)
Principal payment on debt (114) (509)
Net cash provided by financing activities 11,711 3,336
Net decrease in cash and cash equivalents (2,905) (8,028)
Cash and cash equivalents at beginning of year 6,245 14,273
Cash and cash equivalents at end of year 3,340 6,245
Noncash investing and financing activities    
Reduction of derivative liability upon exercise of warrants 5,753
Right of use asset for amended lease liability – increase 2,504
Right-of-use assets and assumption of operating lease liability 114 27
Issuance of common stock for the cashless exercise of warrants 15
Issuance of prefunded warrants 2
Right of use asset for amended lease liability – decrease (89)
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 $ 21 $ 1