Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.22.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Operating Activities    
Net loss $ (2,871) $ (1,529)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 57 56
Changes in ROU asset and operating lease liability 19 6
Share-based compensation 134 185
Changes in fair value of warrant liability 101 (8)
Amortization of deferred financing costs 1,086 528
Loss on extinguishment of debt 150 24
Forgiveness of debt (148)
Beneficial conversion feature in excess of face value 51
Changes in operating assets and liabilities:    
Accounts receivable (91) (146)
Inventory (90) 7
Prepaid expenses and other assets (286) 61
Accounts payable 268 (67)
Accrued expenses and other liabilities 28 (15)
Deferred revenue (38)
Net Cash Used in Operating Activities (1,495) (1,033)
Investing Activities    
Investment in marketable securities (5,371)
Capital expenditures (31) (267)
Net Cash Used in Investing Activities (5,402) (267)
Financing Activities    
Issuance of common stock, net of issuance costs 285
Proceeds from notes payable 15
Principle payment of notes payable (2,033) (15)
Proceeds from notes payable (PPP) 128
Proceeds from convertible notes 1,337
Principal payment on convertible notes (100)
Net Cash Provided by (Used In) Financing Activities (2,033) 1,650
Net Increase (Decrease) in Cash and Cash Equivalents (8,930) 350
Cash and Cash Equivalents – Beginning of period 13,350 32
Cash and Cash Equivalents – End of period 4,420 382
Cash paid during the year for:    
Interest
Taxes
Supplemental Non-cash Investing and Financing activities    
Fair value of beneficial conversion and warrant features of Convertible Notes Payable 1,276
Original issue discounts recognized on Convertible Notes Payable 343
Warrants issued for debt and equity financing costs $ 130