Cash Flow

v3.23.3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Cash flows from operating activities:    
Net loss $ (13,912) $ (11,461)
Reconciliation of net loss to net cash used in operating activities    
Depreciation and ROU asset amortization 770 736
Amortization of intellectual property 135 135
Fair value of common stock issued for director fees 96 0
Fair value of common stock issued for consulting services 12 12
Stock-based compensation 1,880 1,737
Warrant expense 181 0
Amortization of deferred financing costs 119 0
Gain on disposal of property, plant and equipment (23) (595)
Changes in operating assets and liabilities    
Proceeds from leasing of building 12,278 636
Accounts receivable (64) 131
Inventory (612) 95
Prepaid expenses and other current assets 91 (19)
Accounts payable 322 (35)
Accrued expenses 1,181 383
Other assets and liabilities (232) (427)
Net cash provided by (used in) operating activities 2,222 (8,672)
Cash flows from investing activities:    
Purchases of property, plant and equipment (6,142) (2,290)
Proceeds from sale of equipment 70 1,432
Equipment deposits and other assets (222) (322)
Investment in LINICO 0 (500)
Net cash used in investing activities (6,294) (1,680)
Cash flows from financing activities:    
Proceeds from issuance of common stock, net of transaction costs 22,947 0
Proceeds from employee stock purchase plan 14 0
Payments on note payable (6,000) 0
Proceeds from note payable, net 2,931 5,886
Cash paid for tax withholdings on RSUs vesting (1,092) 0
Proceeds from ATM, net 3,788 5,622
Net cash provided by financing activities 22,588 11,508
Net decrease in cash and cash equivalents 18,516 1,156
Cash and cash equivalents at beginning of period 7,082 8,137
Cash and cash equivalents at end of period 25,598 9,293
Supplemental disclosure of cash flows information    
Cash paid for income taxes 0 2
Cash paid for interest 399 7
Supplemental disclosure of non-cash transactions    
Acquisitions of property, plant and equipment included in accounts payable 39 (218)
Acquisitions of property, plant and equipment included in accrued expenses 674 (136)
Increase in equity included in accrued expenses $ 608 $ 0

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