Cash Flow

v3.23.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Cash flows from operating activities:    
Net loss $ (4,606,000) $ (4,410,000)
Reconciliation of net loss to net cash used in operating activities    
Depreciation and ROU asset amortization 141,000 365,000
Amortization of intellectual property 45,000 45,000
Fair value of common stock issued for director fees 32,000 0
Fair value of common stock issued for consulting services 12,000 0
Stock-based compensation 687,000 605,000
Amortization of deferred financing costs 16,000 0
Loss (gain) on disposal of property, plant and equipment (20,000) 150,000
Proceeds from leasing of building 283,000 185,000
Changes in operating assets and liabilities    
Accounts receivable 12,000 72,000
Inventory (23,000) 78,000
Prepaid expenses and other current assets (23,000) (71,000)
Accounts payable 107,000 87,000
Accrued expenses 547,000 (221,000)
Other assets and liabilities (73,000) (289,000)
Net cash used in operating activities (2,863,000) (3,404,000)
Cash flows from investing activities:    
Purchases of property, plant and equipment (5,255,000) (258,000)
Proceeds from sale of equipment 67,000 1,145,000
Equipment deposits and other assets (34,000) 30,000
Investment in LINICO 0 (500,000)
Net cash provided by (used in) investing activities (5,222,000) 417,000
Cash flows from financing activities:    
Proceeds from employee stock purchase plan 14,000 0
Proceeds from notes payable, net 2,932,000 0
Cash paid for tax withholdings on RSUs vesting (577,000) 0
Proceeds from ATM, net 1,989,000 3,890,000
Net cash provided by financing activities 4,358,000 3,890,000
Net increase (decrease) in cash and cash equivalents (3,727,000) 903,000
Cash and cash equivalents at beginning of period 7,082,000 8,137,000
Cash and cash equivalents at end of period 3,355,000 9,040,000
Supplemental disclosure of cash flows information    
Cash paid for income taxes 0 2,000
Cash paid for interest 155,000 3,000
Supplemental disclosure of non-cash transactions    
Change in property, plant and equipment resulting from change in accounts payable 412,000 (253,000)
Change in property, plant and equipment resulting from change in accrued expenses 210,000 0
Change in equity resulting from change in accrued expenses $ 608,000 $ 0

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