Cash Flow

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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash flows from operating activities:    
Net loss $ (5,752) $ (4,606)
Reconciliation of net loss to net cash used in operating activities    
Depreciation and ROU asset amortization 280 141
Amortization of intellectual property 45 45
Fair value of common stock issued for director fees 0 32
Fair value of common stock issued for consulting services 0 12
Stock-based compensation 774 687
Amortization of deferred financing costs 11 16
Gain on disposal of property, plant and equipment 0 (20)
Non-cash interest expense 24 0
Changes in operating assets and liabilities    
Proceeds from leasing of building 0 283
Accounts receivable 67 12
Inventory (111) (23)
Prepaid expenses and other current assets (115) (23)
Accounts payable 111 107
Accrued expenses 399 547
Other assets and liabilities 16 (73)
Net cash used in operating activities (4,251) (2,863)
Cash flows from investing activities:    
Purchases of property, plant and equipment (2,737) (5,255)
Proceeds from sale of equipment 0 67
Equipment deposits (2,992) (34)
Proceeds from note receivable 150 0
Net cash used in investing activities (5,579) (5,222)
Cash flows from financing activities:    
Proceeds from employee stock purchase plan 0 14
Proceeds from note payable, net 0 2,932
Cash paid for tax withholdings on RSUs vesting (360) (577)
Debt issuance costs (164) 0
Proceeds from ATM, net 2,126 1,989
Net cash provided by financing activities 1,602 4,358
Net decrease in cash and cash equivalents (8,228) (3,727)
Cash and cash equivalents at beginning of period 16,522 7,082
Cash and cash equivalents at end of period 8,294 3,355
Supplemental disclosure of cash flows information    
Cash paid for interest 82 155
Supplemental disclosure of non-cash transactions    
Acquisitions of property, plant and equipment included in accounts payable 1,121 412
Acquisitions of property, plant and equipment included in accrued expenses 1,638 210
Equity included in accrued expenses $ 0 $ 608

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