Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

v3.23.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
 3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2023
Jun. 30, 2022
Cash flows from operating activities:      
Net loss $ (5,326,000) $ (6,247,000) $ (8,012,000)
Adjustments to reconcile net loss to net cash used in operating activities:      
Stock-based compensation   980,000 986,000
Depreciation and amortization 32,000 65,000 60,000
Amortization of debt discounts 18,000 738,000  
Change in fair value of warrant liabilities (246,000) (5,850,000)  
Loss on extinguishment of convertible note payable   837,000  
Changes in operating assets and liabilities:      
Accounts receivable   172,000 (37,000)
Inventories   1,595,000 (1,468,000)
Prepaid expenses and other assets   225,000 567,000
Other assets   47,000 48,000
Accounts payable   (1,105,000) (363,000)
Accrued liabilities   (544,000) (17,000)
Other liabilities   (39,000) (71,000)
Net cash used in operating activities   (9,126,000) (8,307,000)
Cash flows from investing activities:      
Purchases of property and equipment   (16,000) (27,000)
Net cash used in investing activities   (16,000) (27,000)
Cash flows from financing activities:      
Repayment of convertible note payable   (1,657,000)  
Repayment of finance lease   (13,000) (12,000)
Proceeds from issuance of common stock and prefunded warrants, net of issuance costs   7,995,000  
Proceeds from exercise of warrants 1,895,000 1,927,000 0
Net cash provided by (used in) financing activities   8,252,000 (12,000)
Net decrease in cash and cash equivalents   (890,000) (8,346,000)
Cash and cash equivalents as of beginning of period   2,897,000 13,108,000
Cash and cash equivalents as of end of period $ 2,007,000 2,007,000 4,762,000
Supplemental disclosure of cash flow information:      
Cash paid for interest   20,000 1,000
Cash paid for income taxes   2,000 $ 2,000
Noncash Investing and Financing Activities:      
Issuance of warrant liability in connection with February 2023 offering   5,600,000  
Cashless exercise of warrants   8,191,000  
Issuance of common stock in connection with convertible promissory note   708,000  
Record Right-of-Use Assets obtained in exchange for modified operating lease liabilities   554,000  
Deferred offering costs reclassed from prepaid expenses   $ 97,000