Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.20.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Cash flows from operating activities:    
Net loss $ (6,310,000) $ (10,029,000)
Adjustments to reconcile net loss to net cash used in operating activities:    
Provision for doubtful accounts 74,000 111,000
Depreciation and amortization 323,000 311,000
Stock-based compensation 710,000 496,000
Non-cash interest expense 127,000 399,000
Amortization of operating lease right-of-use assets and accretion of operating lease liabilities 5,000 10,000
Loss from minority interest in limited liability company 182,000 125,000
Changes in assets and liabilities:    
Accounts receivable 220,000 815,000
Inventory 313,000 206,000
Prepaid expenses and other current assets 243,000 (559,000)
Other noncurrent assets 417,000 17,000
Accounts payable 654,000 (1,310,000)
Accrued and other liabilities (2,654,000) (2,202,000)
Other noncurrent liabilities (40,000) 52,000
Net cash used in operating activities (5,736,000) (11,558,000)
Cash flows from investing activities:    
Purchase of property and equipment (161,000) (179,000)
Net cash used in investing activities (161,000) (179,000)
Cash flows from financing activities:    
Transaction costs in connection with November 2019 Offering (30,000)
Proceeds from exercise of Series A and B common warrants 1,661,000
Proceeds from issuance of common shares from employee stock purchase plan 35,000
Net cash provided by financing activities 1,631,000 35,000
Net decrease in cash and cash equivalents (4,266,000) (11,702,000)
Cash and cash equivalents - beginning of period 13,308,000 [1] 29,523,000
Cash and cash equivalents - end of period 9,042,000 17,821,000
Supplemental disclosure:    
Cash paid for interest 675,000
Cash paid for income taxes
Supplemental disclosure of cash flow information as of end of period:    
Issuance of Series B convertible preferred stock in settlement of dividends 989,000
Issuance of note payable in settlement of accrued interest 126,000 318,000
Net transfer of equipment between inventory and property and equipment 89,000 46,000
Operating cash outflows from operating leases 75,000 73,000
Right-of-use assets obtained in exchange for operating lease liabilities (upon adoption of ASC 842) $ 629,000
[1] The condensed consolidated balance sheet as of December 31, 2019 has been derived from the audited consolidated financial statements as of that date.