Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.19.1
Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Cash flows from operating activities:    
Net loss $ (49,981,000) $ (36,959,000)
Adjustments to reconcile net loss to net cash used in operating activities:    
Provision for (recovery from) doubtful accounts 179,000 (221,000)
Depreciation and amortization 786,000 449,000
Stock-based compensation 3,035,000 1,872,000
Fair value of common stock issued 256,000 260,000
Non-cash interest expense 1,580,000 1,049,000
Loss from minority interest in limited liability company 657,000
Changes in assets and liabilities:    
Accounts receivable 330,000 (3,901,000)
Inventory (1,986,000) (67,000)
Prepaid expenses and other current assets 183,000 (1,675,000)
Other noncurrent assets 31,000 (66,000)
Accounts payable (805,000) 1,713,000
Accrued and other liabilities 2,143,000 2,419,000
Other noncurrent liabilities 502,000 274,000
Net cash used in operating activities (43,090,000) (34,853,000)
Cash flows from investing activities:    
Purchase of property and equipment (2,142,000) (905,000)
Investment in limited liability company (2,500,000)
Net cash used in investing activities (2,142,000) (3,405,000)
Cash flows from financing activities:    
Proceeds from sale of common stock, net of issuance costs 53,792,000 31,565,000
Proceeds from note payable 29,210,000
Repayments of note payable (10,000,000)
Proceeds from issuance of common shares from employee stock purchase plan 233,000 76,000
Proceeds from exercise of stock options 31,000
Proceeds from exercise of warrant 20,000
Net cash provided by financing activities 54,025,000 50,902,000
Net increase in cash and cash equivalents 8,793,000 12,644,000
Cash and cash equivalents - beginning of period 20,730,000 8,086,000
Cash and cash equivalents - end of period 29,523,000 20,730,000
Supplemental disclosure:    
Cash paid for interest 2,673,000 2,066,000
Cash paid for income taxes 2,000
Supplemental disclosure of cash flow information as of end of period:    
Issuance of warrants in connection with note payable 940,000
Issuance of note payable in settlement of accrued interest 1,256,000 495,000
Net transfer of equipment between inventory and property and equipment $ 257,000 $ 364,000