Annual report pursuant to Section 13 and 15(d)

Statements of Cash Flows

v3.20.4
Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (14,541) $ (13,752)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 292 217
Stock-based compensation 3,201 2,488
Write-down of intangible assets and equipment 291 0
Amortization of debt discount 0 665
Changes in operating assets – (Increase)/Decrease:    
Inventory (353) 0
Prepaid expenses and other current assets (45) (86)
Changes in operating liabilities – Increase/(Decrease):    
Accounts payable (625) (370)
Accrued liabilities 283 76
Accrued interest – non-related party 0 11
Accrued interest – related party 0 146
NET CASH USED IN OPERATING ACTIVITIES: (11,497) (10,605)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Payments for the purchase of property and equipment (834) (830)
Payments for acquisition of intangibles (34) (13)
NET CASH USED IN INVESTING ACTIVITIES: (868) (843)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Payment of non-convertible notes payable and accrued interest - related party and non- related party 0 (1,005)
Proceeds from the issuance of non-convertible notes payable - non-related party 0 300
Proceeds from issuance of common shares, net of costs 32,046 24,096
NET CASH PROVIDED BY FINANCING ACTIVITIES: 32,046 23,391
Net increase in cash, cash equivalents and restricted cash 19,681 11,943
Cash, cash equivalents and restricted cash, beginning of period 12,076 133
Cash, cash equivalents and restricted cash, end of period 31,757 12,076
Supplemental cash flow disclosures:    
Cash paid for interest 0 20
Non-cash investing and financing activities:    
Accrued direct issuance costs – offering 0 (277)
Additions to property and equipment included in accounts payable 295 0
Capital contributions – debt forgiveness 0 434
Accrued preferred dividends 0 160
Debt discount on convertible notes and notes payable – issuance of warrants 0 146
Issuance of common stock for extinguishment of convertible note payable - related party and non-related party 0 11,833
Issuance of common stock for extinguishment of dividends payable 0 4,773
Issuance of common stock for extinguishment of preferred stock A and preferred stock B $ 0 $ 3