Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Cash flows from operating activities:    
Net loss $ (8,751,000) $ (9,068,000)
Adjustments to reconcile net loss to net cash used in operating activities:    
Warrant inducement expense 1,146,000 0
Gain on forgiveness of Paycheck Protection Program loan (859,000) 0
Stock-based compensation 938,000 809,000
Depreciation and amortization 59,000 46,000
Expense for issuance of common stock for services 34,000 0
Amortization of intangible asset 0 25,000
Amortization of debt discounts 0 1,389,000
Expense related to common stock issued in settlements 0 135,000
Change in fair value of warrant liability 0 (24,000)
Gain on foreign currency translation from closure of subsidiary 0 (48,000)
Changes in operating assets and liabilities:    
Accounts receivable (120,000) (138,000)
Inventories (1,246,000) 90,000
Prepaid expenses and other assets (572,000) 66,000
Accounts payable 153,000 (643,000)
Accrued liabilities 644,000 (234,000)
Net cash used in operating activities (8,574,000) (7,499,000)
Cash flows from investing activities:    
Purchases of property and equipment (86,000) (15,000)
Net cash used in investing activities (86,000) (15,000)
Cash flows from financing activities:    
Proceeds from issuance of common stock upon warrant exercises, net of issuance costs 8,303,000 0
Repayment of capital lease (17,000) 0
Proceeds from issuance of common stock in registered direct offering, net of issuance costs 9,026,000 0
Proceeds from issuance of common stock, prefunded warrants and warrants, net of issuance costs 0 6,240,000
Proceeds from issuance of common stock, net of shelf offering costs 0 9,951,000
Proceeds from the exercise of prefunded warrants and common stock warrants 0 37,000
Proceeds from issuance of promissory notes 0 847,000
Proceeds from issuance of convertible notes payable, net of issuance costs 0 1,396,000
Repayment of convertible notes payable 0 (2,151,000)
Net cash provided by financing activities 17,312,000 16,320,000
Net increase in cash and cash equivalents 8,652,000 8,806,000
Cash and cash equivalents as of beginning of period 7,415,000 298,000
Cash and cash equivalents as of end of period 16,067,000 9,104,000
Supplemental disclosure of cash flow information:    
Cash paid for interest 3,000 352,000
Cash paid for income taxes 2,000 3,000
Noncash Investing and Financing Activities:    
Exchange of convertible preferred stock for common stock 1,640,000 0
Deemed dividend on exchange of convertible preferred stock for common stock (1,192,000) 0
Issuance of warrants in connection with exchange of preferred stock 570,000 0
Convertible preferred stock dividend 34,000 60,000
Issuance of warrants in connection with convertible notes payable 0 630,000
Issuance of common stock in connection with convertible notes payable 0 4,000
Issuance of warrants in connection with common stock offerings 0 8,354,000
Deemed dividend from warrant repricing 0 (134,000)
Issuance costs for shelf offering of common stock in accounts payable 0 35,000
Warrant repricing 0 134,000
Property and equipment purchased through capital lease $ 0 $ 72,000