Quarterly report [Sections 13 or 15(d)]

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.26.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Cash flows from operating activities:    
Net loss $ 3,954,000 $ 8,315,000
Reconciliation of net loss to net cash used in operating activities    
Depreciation and ROU asset amortization 261,000 280,000
Amortization of intellectual property 15,000 18,000
Stock-based compensation 450,000 701,000
Change in fair value of warrant liability (47,000) (491,000)
Amortization of deferred financing costs 0 243,000
Impairment and loss on disposal of property, plant and equipment 0 5,247,000
Non-cash interest (income) expense (60,000) 74,000
Non-cash note receivable contribution (31,000) 0
Provision for credit losses 437,000 0
Changes in operating assets and liabilities    
Accounts receivable 0 (128,000)
Inventory 0 6,000
Prepaid expenses and other current assets (31,000) (43,000)
Accounts payable 292,000 (136,000)
Accrued expenses (1,113,000) (650,000)
Other assets and liabilities (63,000) 441,000
Net cash used in operating activities (3,844,000) (2,753,000)
Cash flows from investing activities:    
Payments for note receivable - LION ENERGY (2,000,000) 0
Purchases of property, plant and equipment 0 (289,000)
Proceeds from note receivable - LINICO 0 100,000
Proceeds from refund of equipment deposit 0 (186,000)
Net cash used in investing activities (2,000,000) (375,000)
Cash flows from financing activities:    
Proceeds from employee stock purchase plan 621,000 0
Principal payments on notes payable 0 (500,000)
Principal payments on finance leases (10,000) 0
Cash paid cash in lieu of fractional shares reverse split 0 (10,000)
Cash paid for tax withholdings on RSUs vesting (56,000) (66,000)
Net cash provided by financing activities 1,850,000 638,000
Net decrease in cash and cash equivalents (3,994,000) (2,490,000)
Cash and cash equivalents at beginning of period 10,810,000 4,079,000
Cash and cash equivalents at end of period 6,816,000 1,589,000
Supplemental disclosure of cash flows information    
Cash paid for income taxes 2,000 0
Cash paid for interest 8,000 86,000
Supplemental disclosure of non-cash transactions    
Acquisitions of property, plant and equipment included in accounts payable 0 181,000
ATM [Member]    
Cash flows from financing activities:    
Proceeds from ATM, net $ 1,295,000 $ 1,214,000