Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.24.3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Operating Activities    
Net loss $ (2,431,000) $ (2,059,000)
Adjustments to reconcile net loss to net cash used in operating activities:    
Income (loss) attributable to non-controlling interest in joint venture (208,000) 58,000
Depreciation and amortization 328,000 103,000
Changes in ROU asset and operating lease liability 31,000 33,000
Share-based compensation and restricted stock vesting 271,000 120,000
Gain on investment in marketable securities (62,000) 168,000
Changes in fair value of warrant liability (37,000) (96,000)
Changes in operating assets and liabilities:    
Accounts receivable (261,000) (936,000)
Inventory (459,000) (588,000)
Prepaid expenses and other assets (479,000) (227,000)
Accounts payable 272,000 808,000
Accrued expenses and other current liabilities (132,000) (67,000)
Deferred revenue 159,000 34,000
Net Cash Used in Operating Activities (3,008,000) (2,649,000)
Investing Activities    
Proceeds from sales of marketable securities 62,000 5,340,000
Capital expenditures (374,000) (611,000)
Net cash paid for Asset acquisition (400,000)
Net Cash (Used in) Provided by Investing Activities (712,000) 4,729,000
Financing Activities    
Proceeds from margin line of credit 345,000 89,000
Proceeds from Rights offering 1,950,000
Investment by joint venture partner 37,000  
Principal payment on financing lease liability (36,000)
Change in contingent consideration liability (164,000)
Principal payments of notes payable (53,000) (4,000)
Net Cash Provided by Financing Activities 2,079,000 85,000
Net Decrease in Cash (1,641,000) 2,165,000
Cash – Beginning of period 2,700,000 1,101,000
Cash – End of period 1,059,000 3,266,000
Cash paid during the year for:    
Interest 65,000 7,000
Taxes
Supplemental Non-cash Investing and Financing activities    
Shares issued in conjunction with asset acquisition 200,000
Property and equipment financed under notes payable 165,000
Property and equipment financed under financing leases 416,000
Property and equipment contributed as capital investment to JV 500,000
ROU asset and operating lease liabilities recognized upon consolidation of JV $ 334,000