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 ($)
 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Cash flows from operating activities:    
Net loss $ (6,078,000) $ (5,389,000)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 29,000 28,000
Stock-based compensation 147,000 0
Amortization of intangible asset 17,000 17,000
Amortization of debt discounts 1,389,000 0
Expense related to common stock issued in settlements 135,000 0
Change in fair value of warrant liability (24,000) (175,000)
Change in fair value of derivative liability 0 171,000
Expense for the issuance of consultant warrants and common stock 0 238,000
Gain on foreign currency translation from closure of subsidiary 48,000 0
Changes in operating assets and liabilities:    
Accounts receivable 39,000 94,000
Inventories (49,000) (699,000)
Prepaid expenses and other assets 359,000 (62,000)
Accounts payable (353,000) 486,000
Accrued liabilities (491,000) (86,000)
Accrued interest 0 0
Net cash used in operating activities (4,832,000) (5,377,000)
Cash flows from investing activities:    
Purchases of property and equipment (10,000) (25,000)
Net cash used in investing activities (10,000) (25,000)
Cash flows from financing activities:    
Proceeds from issuance of common stock, prefunded warrants and warrants, net of issuance costs 6,367,000 4,664,000
Proceeds from issuance of common stock, net of shelf offering costs 10,136,000 0
Proceeds from the issuance of preferred stock and common stock warrants, net of issuance costs 0 920,000
Proceeds from the exercise of prefunded warrants and common stock warrants 37,000 0
Proceeds from issuance of promissory notes 847,000 0
Proceeds from issuance of convertible notes payable, net of issuance costs 1,396,000 0
Repayment of convertible notes payable (2,151,000) 0
Taxes paid related to net share settlements of equity awards 0 (65,000)
Net cash provided by financing activities 16,632,000 5,519,000
Effect of exchange rate changes on cash and cash equivalents 0 (13,000)
Net increase in cash and cash equivalents 11,790,000 104,000
Cash and cash equivalents as of beginning of period 298,000 3,218,000
Cash and cash equivalents as of end of period 12,088,000 3,322,000
Supplemental disclosure of cash flow information:    
Cash paid for interest 351,000 0
Cash paid for income taxes 3,000 7,000
Noncash Investing and Financing Activities:    
Issuance of warrants in connection with convertible notes payable 630,000 0
Issuance of common stock in connection with convertible notes payable 4,000 0
Issuance of warrants in connection with common stock offerings 8,354,000 70,000
Issuance of common stock warrants in connection with preferred stock offering 0 243,000
Fair value of derivative liability in connection with issuance of convertible preferred stock 0 216,000
Deemed dividend from warrant repricing (134,000) 0
Warrant repricing 134,000 0
Convertible preferred stock dividend 40,000 16,000
Issuance costs for public offering of common stock in accounts payable 127,000 0
Issuance costs for shelf offering of common stock in accounts payable $ 178,000 $ 0