v3.20.2
Condensed Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (10,000,000) $ (10,477,000)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 209,000 146,000
Stock-based compensation 2,204,000 1,860,000
Write-down of intangible asset 20,000 0
Amortization of debt discount 0 665,000
Changes in operating assets - (increase)/decrease:    
Inventory (266,000) 0
Prepaid expenses and other current assets (218,000) (188,000)
Changes in operating liabilities - increase/(decrease):    
Accounts payable (932,000) (820,000)
Accrued and other current liabilities 161,000 404,000
Non-convertible accrued interest - non-related and related party 0 11,000
Convertible accrued interest - related party 0 146,000
NET CASH USED IN OPERATING ACTIVITIES: (8,822,000) (8,253,000)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Payments for the purchase of property and equipment (446,000) (819,000)
Payments for intangibles (28,000) (4,000)
NET CASH USED IN INVESTING ACTIVITIES: (474,000) (823,000)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Payment of non-convertible notes payable and accrued interest - related party and non-related party 0 (1,005,000)
Proceeds from issuance of non-convertible notes payable - non-related party 0 300,000
Proceeds from issuance of common shares from IPO, net of costs 0 9,714,000
Proceeds from issuance of common shares from PIPE Offerings, net of costs 0 8,643,000
Proceeds from issuance of common shares from June 2020 Offering, net of costs 32,046,000 0
NET CASH PROVIDED BY FINANCING ACTIVITIES: 32,046,000 17,652,000
Net increase in cash, cash equivalents and restricted cash 22,750,000 8,576,000
Cash, cash equivalents and restricted cash, beginning of period 12,076,000 133,000
Cash, cash equivalents and restricted cash, end of period 34,826,000 8,709,000
Supplemental cash flow disclosures:    
Cash paid for interest 0 20,000
Non-cash investing and financing activities:    
Additions to property and equipment included in accounts payable 249,000 0
Accrued preferred dividends 0 160,000
Accrued direct issuance costs - offering 0 (277,000)
Capital contributions - debt forgiveness 0 434,000
Issuance of common stock for extinguishment of convertible note payable and accrued interest - related party and non-related party 0 11,833,000
Issuance of common stock for extinguishment of dividends payable 0 4,773,000
Debt discount on convertible notes and notes payable - issuance of warrants 0 146,000
Issuance of common stock for extinguishment of preferred stock A and preferred stock B $ 0 $ 3,000

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