Cash Flow

v3.20.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Cash flows from operating activities:    
Net loss $ (44,795) $ (40,254)
Reconciliation of net loss to net cash used in operating activities    
Depreciation 3,899 3,213
Amortization of intellectual property 182 190
Accretion of asset retirement obligation 46 44
Fair value of warrant modification, net 0 402
Fair value of common stock issued for consulting services 4,925 423
Stock-based compensation 4,206 1,201
Warrant expense 5,780 0
Amortization of debt discount 0 2,006
Amortization of deferred financing costs 56 83
Non-cash convertible note interest expense 2,556 690
Non-cash interest expense 95 0
Lease liability, net of deferred rent write-off 0 (493)
Amortization of lease liability 0 (80)
Impairment of acquired intellectual property 90 0
Loss on sale of equipment 149 869
Inventory adjustment 0 179
Changes in operating assets and liabilities    
Accounts receivable 481 157
Inventory (492) 295
Prepaid expenses and other current assets (612) 400
Accounts payable 823 472
Accrued expenses (2,031) 4,009
Deferred rent (35) (124)
Other assets and liabilities (500) 0
Net cash used in operating activities (25,177) (26,318)
Cash flows from investing activities:    
Purchases of property and equipment (12,802) (3,693)
Other assets 0 (236)
Equipment deposits and other assets (272) 0
Insurance proceeds 2,500 0
Net cash used in investing activities (10,574) (3,929)
Cash flows from financing activities:    
Proceeds from issuance of common stock, net of transaction costs 29,380 28,753
Payments on notes payable (295) (277)
Payments on capital leases 0 (130)
Payments on convertible note (6,651) 0
Net cash provided by financing activities 22,434 28,346
Net decrease in cash, cash equivalents and restricted cash (13,317) (1,901)
Cash, cash equivalents and restricted cash at beginning of period 20,892 22,793
Cash, cash equivalents and restricted cash at end of period 7,575 20,892
Supplemental disclosure of cash flow information:    
Cash paid for interest, net of amounts capitalized 697 668
Cash paid for income taxes 2 2
Non-cash financing activities    
Capital lease 0 38
Fair value of common stock issued to consultants 4,925 423
Total non-cash financing activities 4,925 461
Supplemental disclosure of non-cash transactions    
Change in property and equipment resulting from change in accounts payable (1,921) 180
Change in property and equipment resulting from change in accrued expenses (928) (14)
Change in equity resulting from change in accrued expenses 1,300 600
Change in property and equipment resulting from fire damaged assets written off (19,946) 0
Change in insurance proceeds receivable resulting from fire $ 17,446 $ 0

Source