Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.6.0.2
Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Cash flows from operating activities:    
Net loss $ (20,111,000) $ (12,426,000)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 111,000 77,000
Stock-based compensation 981,000 220,000
Restricted stock award granted to consultant 39,000
Fair value of warrants issued 162,000 251,000
Fair value of warrants issued to employees for bonuses 286,000
Non-cash interest expense 456,000 197,000
Changes in assets and liabilities:    
Accounts receivable (1,498,000) (587,000)
Inventory (1,237,000) (1,438,000)
Prepaid expenses and other current assets 162,000 (879,000)
Other noncurrent assets 2,000 18,000
Accounts payable 1,654,000 1,016,000
Accrued liabilities 1,192,000 1,070,000
Net cash used in operating activities (18,087,000) (12,195,000)
Cash flows from investing activities:    
Purchase of property and equipment (256,000) (109,000)
Net cash used in investing activities (256,000) (109,000)
Cash flows from financing activities:    
Proceeds from sale of common stock, net of issuance costs 13,886,000 16,433,000
Proceeds from note payable 9,910,000 2,500,000
Repayments of note payable (4,833,000) (167,000)
Proceeds from exercise of warrants 92,000 3,000
Proceeds from exercise of stock options 14,000  
Net cash provided by financing activities 19,069,000 18,769,000
Net increase in cash and cash equivalents 726,000 6,465,000
Cash and cash equivalents - beginning of period 7,360,000 895,000
Cash and cash equivalents - end of period 8,086,000 7,360,000
Supplemental disclosure:    
Cash paid for interest 803,000 196,000
Cash paid for income taxes 1,000 1,000
Supplemental disclosure of cash flow information as of end of period:    
Issuance of warrant in connection with note payable 350,000 10,000
Issuance of restricted stock awards to employees for performance bonuses 246,000
Net transfer of equipment from inventory to property and equipment $ 99,000 $ 20,000