Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.22.4
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Cash flows from operating activities:    
Net loss $ (15,431) $ (18,193)
Reconciliation of net loss to net cash used in operating activities    
Depreciation 882 1,140
Amortization of intellectual property 179 180
Fair value of common stock issued for consulting services 19 225
Stock-based compensation 2,255 2,201
Fair value of common stock issued for director fees 21 0
Amortization of deferred financing costs 13 0
Inventory NRV adjustment 0 146
Loss (gain) on disposal of property and equipment (596) 5,665
Forgiveness of PPP loan 0 (332)
Impairment of equipment 579 545
Lease of building 920 553
Changes in operating assets and liabilities    
Accounts receivable 120 (237)
Inventory (155) 822
Prepaid expenses and other current assets 93 345
Accounts payable 22 8
Accrued liabilities 1,428 378
Other assets and liabilities (497) (508)
Net cash used in operating activities (10,148) (7,062)
Cash flows from investing activities:    
Purchases of property and equipment (4,771) (2,350)
Proceeds from sale of equipment 1,760 275
Equipment deposits and other assets 91 79
Investment in LINICO (500) (232)
Net cash used in investing activities (3,420) (2,228)
Cash flows from financing activities:    
Proceeds from note payable 5,886 0
Proceeds from exercise of stock options 0 728
Proceeds from ATM, net 6,519 10,166
Proceeds from employee stock purchase plan 108 0
Net cash provided by financing activities 12,513 10,894
Net increase (decrease) in cash and cash equivalents (1,055) 1,604
Cash and cash equivalents at beginning of period 8,137 6,533
Cash and cash equivalents at end of period 7,082 8,137
Supplemental disclosure of cash flow information:    
Cash paid for interest, net of amounts capitalized 21 84
Cash paid for income taxes 2 2
Non-cash financing activities    
Fair value of common stock issued to consultants 91 19
Change in property and equipment resulting from change in accounts payable 875 (368)
Change in property and equipment resulting from change in accrued expenses 0 (55)
Change in investing activity resulting from issuance of equity $ (1,268) $ 0