v3.20.1
Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Cash flows from operating activities:    
Net loss $ (42,526,000) $ (49,981,000)
Adjustments to reconcile net loss to net cash used in operating activities:    
Provision for doubtful accounts and write off of accounts receivable 1,028,000 179,000
Depreciation and amortization 1,177,000 786,000
Stock-based compensation 2,400,000 3,035,000
Fair value of common shares issued 256,000
Non-cash interest expense 1,577,000 1,580,000
Amortization of operating lease right-of-use assets and accretion of operating lease liabilities 5,000
Loss on debt restructuring 6,705,000
Loss from minority interest in limited liability company 627,000 657,000
Loss on disposal of property and equipment 108,000
Changes in assets and liabilities:    
Accounts receivable 3,103,000 330,000
Inventory (1,070,000) (1,986,000)
Prepaid expenses and other current assets 111,000 183,000
Other noncurrent assets 40,000 31,000
Accounts payable (2,386,000) (805,000)
Accrued and other liabilities (1,536,000) 2,143,000
Other noncurrent liabilities (599,000) 502,000
Net cash used in operating activities (31,236,000) (43,090,000)
Cash flows from investing activities:    
Purchase of property and equipment (1,087,000) (2,142,000)
Net cash used in investing activities (1,087,000) (2,142,000)
Cash flows from financing activities:    
Proceeds from equity financings, net of issuance costs 16,274,000 53,792,000
Proceeds from issuance of common shares from employee stock purchase plan 56,000 233,000
Transaction costs in connection with note payable (216,000)
Reverse stock split - cancellation and payout of fractional shares (6,000)
Net cash provided by financing activities 16,108,000 54,025,000
Net increase (decrease) in cash and cash equivalents (16,215,000) 8,793,000
Cash and cash equivalents - beginning of period 29,523,000 20,730,000
Cash and cash equivalents - end of period 13,308,000 29,523,000
Supplemental disclosure:    
Cash paid for interest 2,508,000 2,673,000
Cash paid for income taxes 2,000
Supplemental disclosure of cash flow information as of end of period:    
Issuance of Series B convertible preferred stock and common stock warrants in connection with debt conversion 35,529,000
Issuance of note payable in settlement of accrued interest 1,226,000 1,256,000
Issuance of Series B convertible preferred stock in settlement of dividends 378,000
Net transfer of equipment between inventory and property and equipment 207,000 257,000
Operating cash outflows from operating leases 295,000
Right-of-use assets obtained in exchange for operating lease liabilities (upon adoption of ASC 842) $ 629,000

Source