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 ($)
 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Cash flows from operating activities:    
Net loss $ (12,358,000) $ (12,661,000)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation 1,498,000 1,512,000
Depreciation and amortization 82,000 91,000
Amortization of debt discounts 779,000 156,000
Change in fair value of warrant liabilities (6,134,000) (274,000)
Loss on extinguishment of convertible note payable 837,000  
Changes in operating assets and liabilities:    
Accounts receivable (160,000) (23,000)
Inventories 3,901,000 (2,504,000)
Prepaid expenses and other assets (149,000) 53,000
Other assets 67,000 79,000
Accounts payable (84,000) 1,074,000
Accrued liabilities (319,000) (288,000)
Other liabilities (61,000) (111,000)
Net cash used in operating activities (12,101,000) (12,896,000)
Cash flows from investing activities:    
Purchases of property and equipment (50,000) (36,000)
Net cash used in investing activities (50,000) (36,000)
Cash flows from financing activities:    
Repayment of convertible note payable, net of issuance costs (1,657,000) 2,483,000
Repayment of finance lease (15,000) (15,000)
Proceeds from issuance of common stock and prefunded warrants, net of issuance costs 7,995,000  
Proceeds from exercise of warrants 2,545,000 0
Proceeds from issuance of short-term loan, net of issuance costs 598,000  
Net cash provided by financing activities 9,466,000 2,468,000
Net decrease in cash and cash equivalents (2,685,000) (10,464,000)
Cash and cash equivalents as of beginning of period 2,897,000 13,108,000
Cash and cash equivalents as of end of period 212,000 2,644,000
Supplemental disclosure of cash flow information:    
Cash paid for interest 24,000 17,000
Cash paid for income taxes 2,000 2,000
Noncash Investing and Financing Activities:    
Cashless exercise of warrants 8,191,000  
Issuance of warrants in connection with February 2023 offering 5,601,000  
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  
Accrual of legal fees for the short-term loan 10,000  
Issuance of warrants in connection with convertible notes payable 0 1,076,000
Derivative liability recorded in connection with issuance of convertible notes payable $ 0 $ 286,000