Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
 3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Cash flows from operating activities:    
Net loss $ (921,000) $ (3,904,000)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation 499,000 480,000
Depreciation and amortization 33,000 29,000
Amortization of debt discounts 719,000  
Change in fair value of warrant liability (5,604,000)  
Changes in operating assets and liabilities:    
Accounts receivable 47,000 (29,000)
Inventories 1,323,000 (1,447,000)
Prepaid expenses and other assets (271,000) 105,000
Other assets 22,000  
Accounts payable 137,000 551,000
Accrued liabilities (563,000) 196,000
Other liabilities (39,000) (15,000)
Net cash used in operating activities (4,618,000) (4,034,000)
Cash flows from investing activities:    
Purchases of property and equipment (14,000) (7,000)
Net cash used in investing activities (14,000) (7,000)
Cash flows from financing activities:    
Repayment of finance lease (6,000) (6,000)
Proceeds from issuance of common stock, prefunded warrants and warrants, net of issuance costs 6,968,000  
Proceeds from exercise of warrants 32,000  
Net cash provided by financing activities 6,994,000 (6,000)
Net increase (decrease) in cash and cash equivalents 2,362,000 (4,047,000)
Cash and cash equivalents as of beginning of period 2,897,000 13,108,000
Cash and cash equivalents as of end of period 5,259,000 9,061,000
Supplemental disclosure of cash flow information:    
Cash paid for interest 2,000 $ 1,000
Cash paid for income taxes 0  
Noncash Investing and Financing Activities:    
Issuance of warrant liability in connection with February 2023 offering 5,600,000  
Cashless exercise of warrants 8,170,000  
Issuance of common stock in connection with convertible promissory note 708,000  
Deferred offering costs reclassed from prepaid expenses $ (97,000)