Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash flows from operating activities:    
Net loss $ (8,012,000) $ (6,690,000)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation 986,000 589,000
Depreciation and amortization 60,000 39,000
Warrant inducement expense 0 1,146,000
Expense for issuance of common stock for services 0 34,000
Changes in operating assets and liabilities:    
Accounts receivable (37,000) (331,000)
Inventories (1,468,000) (855,000)
Prepaid expenses and other assets 567,000 (517,000)
Other assets (48,000) 0
Accounts payable (363,000) (1,000)
Accrued liabilities (17,000) 1,258,000
Other liabilities (71,000) 0
Net cash used in operating activities (8,307,000) (5,328,000)
Cash flows from investing activities:    
Purchases of property and equipment (27,000) (36,000)
Net cash used in investing activities (27,000) (36,000)
Cash flows from financing activities:    
Repayment of capital lease (12,000) (12,000)
Proceeds from issuance of common stock upon warrant exercises, net of issuance costs 0 8,254,000
Net cash (used in) provided by financing activities (12,000) 8,242,000
Net (decrease) increase in cash and cash equivalents (8,346,000) 2,878,000
Cash and cash equivalents as of beginning of period 13,108,000 7,415,000
Cash and cash equivalents as of end of period 4,762,000 10,293,000
Supplemental disclosure of cash flow information:    
Cash paid for interest 1,000 2,000
Cash paid for income taxes 2,000 2,000
Noncash Investing and Financing Activities:    
Exchange of convertible preferred stock for common stock 0 1,640,000
Deemed dividend on exchange of convertible preferred stock for common stock 0 (1,192,000)
Issuance of warrants in connection with exchange of preferred stock 0 570,000
Convertible preferred stock dividend $ 0 $ 34,000