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, 2024
Mar. 31, 2023
Cash Flows From Operating Activities    
Net loss $ (886) $ (293)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation expense 256 154
Amortization of right of use asset 163 183
Amortization of intangible assets 1 1
Stock based compensation 50 86
Change in fair value of derivative liabilities (2,838) (3,898)
Bad debt expense 37 (3)
Changes in operating assets and liabilities:    
Trade accounts receivable 165 (137)
Prepaid expenses and other current assets 286 (457)
Inventories 45 110
Accounts payable and accrued liabilities 128 (103)
Other liabilities (337)
Payments on operating lease liability (140) (177)
Net cash used in operating activities (2,733) (4,871)
Cash Flows From Investing Activities    
Purchase of property and equipment (174) (236)
Proceeds from sale of property and equipment 1
Net cash used in investing activities (173) (236)
Cash Flows From Financing Activities    
Proceeds from issuance of warrant derivative liabilities 3,366 6,650
Proceeds from issuance of common stock and prefunded warrants, net of cash fees 2,003 4,840
Proceeds from issuance of common stock in connection with exercise of warrants 1
Payment on debt (42)
Redemption of Preferred Stock Series E (2)
Net cash provided by financing activities 5,328 11,488
Net increase in cash and cash equivalents 2,422 6,381
Cash and cash equivalents at beginning of period 3,340 6,245
Cash and cash equivalents at end of period 5,762 12,626
Noncash Investing and Financing Activities    
Increase in Property, Plant, and Equipment from an Accrual 319
Debt Issued for Prepaid Insurance 229
Agent Warrant Offering Cost Allocated to Equity 13
Right of use asset for amended lease liability – increase 4
Right of use asset for lease liability 114
Reduction of derivative liability upon exercise of warrants 5,502
Par value of common stock upon cashless exercise of warrants 13
Par value of common stock upon exercise of prefunded warrants 2
Supplemental Cash Flow Information    
Cash paid for interest $ 2 $ 2