Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.21.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Cash flows from operating activities:    
Net loss $ (15,699,000) $ (17,160,000)
Adjustments to reconcile net loss to net cash used in operating activities:    
Provision for doubtful accounts 104,000 335,000
Depreciation and amortization 884,000 965,000
Stock-based compensation 2,765,000 2,009,000
Non-cash interest expense 446,000 394,000
Amortization of operating lease right-of-use assets and accretion of operating lease liabilities 15,000 3,000
Loss from minority interest in limited liability company 188,000 323,000
Loss on disposal of property and equipment 40,000 14,000
Modification of warrants 373,000 1,838,000
Forgiveness of Paycheck Protection Program loan (1,358,000) 0
Changes in assets and liabilities:    
Accounts receivable 152,000 549,000
Inventory 1,423,000 233,000
Prepaid expenses and other current assets 213,000 683,000
Other noncurrent assets (3,000) 444,000
Accounts payable 411,000 (913,000)
Accrued and other liabilities 71,000 (2,918,000)
Other noncurrent liabilities 324,000 265,000
Net cash used in operating activities (9,651,000) (12,936,000)
Cash flows from investing activities:    
Purchase of property and equipment (162,000) (403,000)
Net cash used in investing activities (162,000) (403,000)
Cash flows from financing activities:    
Proceeds from January 2021 Offering, net of issuance costs 25,122,000 0
Proceeds from exercise of common warrants 179,000 8,407,000
Transaction costs in connection with 2020 Warrant Offering 0 (333,000)
Proceeds from purchase of common shares under Purchase Agreement with LPC 704,000 341,000
Proceeds from Paycheck Protection Program loan 0 1,343,000
Proceeds from issuance of common shares from employee stock purchase plan 21,000 0
Net cash provided by financing activities 25,955,000 9,231,000
Net increase (decrease) in cash and cash equivalents 16,142,000 (4,108,000)
Cash and cash equivalents - beginning of period 6,523,000 13,308,000
Cash and cash equivalents - end of period 22,665,000 9,200,000
Supplemental disclosure:    
Cash paid for interest 0 0
Cash paid for income taxes 0 0
Supplemental disclosure of cash flow information as of end of period:    
Forgiveness of Paycheck Protection Program loan 1,358,000 0
Issuance of Series B convertible preferred stock in settlement of dividends 3,460,000 3,057,000
Issuance of note payable in settlement of accrued interest 443,000 392,000
Net transfer of equipment between inventory and property and equipment (319,000) 37,000
Operating cash outflows from operating leases 195,000 226,000
Purchase Agreement with LPC [Member]    
Cash flows from financing activities:    
Transaction costs (71,000) (494,000)
November 2019 Offering [Member]    
Cash flows from financing activities:    
Transaction costs $ 0 $ (33,000)