Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Cash flows from operating activities:
Net loss	$ (11,902,000)	$ (9,365,000)
Reconciliation of net loss to net cash used in operating activities
Depreciation and ROU asset amortization	575,000	455,000
Amortization of intellectual property	90,000	90,000
Fair value of common stock issued for director fees	0	64,000
Fair value of common stock issued for consulting services	0	12,000
Stock-based compensation	1,525,000	1,286,000
Amortization of deferred financing costs	20,000	112,000
Gain on disposal of property, plant and equipment	0	(23,000)
Inventory net realizable value adjustment	240,000	0
Write off of debt issuance costs	563,000	0
Changes in operating assets and liabilities
Proceeds from leasing of building	0	12,278,000
Accounts receivable	67,000	(90,000)
Inventory	(219,000)	(353,000)
Prepaid expenses and other current assets	6,000	80,000
Accounts payable	(29,000)	49,000
Accrued expenses	1,092,000	1,024,000
Other assets and liabilities	(30,000)	(147,000)
Net cash provided by (used in) operating activities	(8,002,000)	5,472,000
Cash flows from investing activities:
Purchases of property, plant and equipment	(6,440,000)	(5,503,000)
Proceeds from sale of equipment	0	67,000
Proceeds from note receivable	200,000	0
Equipment deposits	(3,522,000)	(75,000)
Net cash used in investing activities	(9,762,000)	(5,511,000)
Cash flows from financing activities:
Proceeds from issuance of common stock and warrants, net of transaction costs	7,306,000	0
Proceeds from employee stock purchase plan	35,000	14,000
Payments on note payable	0	(6,000,000)
Principal payments on finance leases	(35,000)	0
Proceeds from note payable, net	0	2,932,000
Cash paid for tax withholdings on RSUs vesting	(360,000)	(577,000)
Debt issuance costs	(413,000)	0
Proceeds from ATM, net	2,542,000	2,784,000
Net cash provided by (used in) financing activities	9,075,000	(847,000)
Net decrease in cash and cash equivalents	(8,689,000)	(886,000)
Cash and cash equivalents at beginning of period	16,522,000	7,082,000
Cash and cash equivalents at end of period	7,833,000	6,196,000
Supplemental disclosure of cash flows information
Cash paid for income taxes	3,000	0
Cash paid for interest	166,000	309,000
Supplemental disclosure of non-cash transactions
Acquisitions of property, plant and equipment included in accounts payable	945,000	349,000
Acquisitions of property, plant and equipment included in accrued expenses	646,000	210,000
Equity included in accrued expenses	$ 0	$ 608,000