Cash Flow

v3.24.1
Consolidated Statements of Cash Flows - USD ($)
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Cash flows from operating activities:    
Net loss $ (23,938,000) $ (15,431,000)
Reconciliation of net loss to net cash used in operating activities    
Depreciation and ROU asset amortization 1,091,000 882,000
Amortization of intellectual property 180,000 179,000
Warrant expense 181,000 0
Fair value of common stock issued for consulting services 12,000 19,000
Stock-based compensation 2,534,000 2,255,000
Fair value of common stock issued for director fees 96,000 21,000
Amortization of deferred financing costs 128,000 13,000
Gain on disposal of property, plant and equipment (23,000) (596,000)
Impairment of equipment 4,851,000 579,000
Impairment of LINICO investment 1,400,000  
Changes in operating assets and liabilities    
Accounts receivable (55,000) 120,000
Proceeds from sale and leasing of building 12,278,000 920,000
Inventory (651,000) (155,000)
Prepaid expenses and other current assets 82,000 93,000
Accounts payable 139,000 22,000
Accrued expenses 209,000 1,428,000
Other assets and liabilities (307,000) (497,000)
Net cash used in operating activities (3,193,000) (10,148,000)
Cash flows from investing activities:    
Purchases of property, plant and equipment (5,598,000) (4,771,000)
Proceeds from sale of equipment 70,000 1,760,000
Equipment deposits and other assets (4,285,000) 91,000
Investment in LINICO 0 (500,000)
Net cash used in investing activities (9,813,000) (3,420,000)
Cash flows from financing activities:    
Proceeds from issuance of common stock, net of transaction costs 22,947,000 0
Proceeds from employee stock purchase plan 14,000 108,000
Payments on note payable (6,000,000) 0
Proceeds from note payable, net 2,931,000 5,886,000
Cash paid for tax withholdings on RSUs vesting (1,092,000) 0
Debt issuance costs (140,000) 0
Proceeds from ATM, net 3,786,000 6,519,000
Net cash provided by financing activities 22,446,000 12,513,000
Net increase (decrease) in cash and cash equivalents 9,440,000 (1,055,000)
Cash and cash equivalents at beginning of period 7,082,000 8,137,000
Cash and cash equivalents at end of period 16,522,000 7,082,000
Supplemental disclosure of cash flow information:    
Cash paid for interest 480,000 84,000
Cash paid for income taxes 0 2,000
Supplemental disclosure of non-cash transactions    
Acquisitions of property, plant and equipment included in accounts payable 1,072,000 451,000
Acquisitions of property, plant and equipment included in accrued expenses 1,857,000 770,000
Increase in note receivable resulting from sale of investment 600,000 0
Increase in equity included in accrued expenses 608,000 0
Asset under Construction [Member]    
Reconciliation of net loss to net cash used in operating activities    
Impairment of equipment $ 3,451,000 $ 579,000

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