v3.21.2
CONDENSED STATEMENTS OF CASH FLOWS - USD ($)
3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Dec. 31, 2020
Operating Activities          
Net loss     $ (2,671,000) $ (1,583,000)  
Adjustments to reconcile net loss to net cash used in operating activities:          
Depreciation and amortization     206,000 70,000  
Share-based compensation     229,000 187,000  
Change in fair value of warrant liability $ (2,000) $ 1,000 (10,000) 1,000  
Amortization of deferred financing costs     1,058,000 0  
Loss on debt extinguishment     25,000 0  
Change in ROU asset and operating lease liability     16,000 0  
Forgiveness of debt     (147,000) 0  
Beneficial conversion feature in excess of face value     52,000 0  
Changes in operating assets and liabilities:          
Accounts receivable     (121,000) (16,000)  
Inventory     (28,000) (23,000)  
Prepaid expenses and other assets     39,000 8,000  
Accounts payable     (145,000) (88,000)  
Accrued expenses and other liabilities     (21,000) 66,000  
Deferred revenue     (38,000) 0  
Net Cash Used in Operating Activities     (1,556,000) (1,378,000)  
Investing Activities          
Capital expenditures     (390,000) (152,000)  
Net Cash Used in Investing Activities     (390,000) (152,000)  
Financing Activities          
Issuance of common stock, net of issuance costs     285,000 1,015,000  
Proceeds from notes payable     15,000 411,000  
Proceeds from notes payable (PPP)     127,000 0  
Proceeds from convertible notes     2,957,000 0  
Payment of Financing Costs     (115,000) 0  
Principal payment on convertible notes     (100,000) 0  
Net Cash Provided by Financing Activities     3,169,000 1,426,000  
Net Increase in Cash     1,223,000 (104,000)  
Cash - Beginning of period     32,000 261,000 $ 261,000
Cash - End of period $ 1,255,000 $ 157,000 1,255,000 157,000 $ 32,000
Cash paid during the year for:          
Interest     0 0  
Taxes     0 0  
Supplemental Non-cash Investing and Financing activities          
Fair value of beneficial conversion and warrant features of Convertible Notes Payable     2,587,000 0  
Original issue discounts recognized on Convertible Notes Payable     653,000 0  
Warrants issued for debt and equity financing costs     203,000 0  
Operating lease, ROU assets and liabilities     2,050,000 0  
Common Shares issued for acquisition     0 375,000  
Inventory acquired from acquisition     0 21,000  
Accounts payable assumed from acquisition     $ 0 $ 13,000  

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