Cash Flow

v3.22.2.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Cash flows from operating activities:    
Net loss $ (11,461,000) $ (13,488,000)
Reconciliation of net loss to net cash used in operating activities    
Depreciation 736,000 926,000
Amortization of intellectual property 135,000 135,000
Fair value of RSUs issued for consulting services 12,000 114,000
Stock-based compensation 1,737,000 1,698,000
Inventory NRV adjustment 0 146,000
Loss (gain) on disposal of property and equipment (595,000) 5,665,000
Forgiveness of PPP Loan 0 (332,000)
Changes in operating assets and liabilities    
Accounts receivable 131,000 (218,000)
Inventory 95,000 612,000
Prepaid expenses and other current assets (19,000) 392,000
Accounts payable (35,000) 304,000
Accrued expenses 383,000 750,000
Other assets and liabilities (427,000) (457,000)
Net cash used in operating activities (9,308,000) (3,753,000)
Cash flows from investing activities:    
Purchases of property and equipment (2,290,000) (1,672,000)
Proceeds from sale of equipment 1,432,000 275,000
Equipment deposits and other assets (322,000) 123,000
Investment in LINICO (500,000) (232,000)
Net cash used in investing activities (1,680,000) (1,506,000)
Cash flows from financing activities:    
Proceeds from notes payable 5,886,000 0
Proceeds from leasing of building 636,000 368,000
Proceeds from exercise of stock options 0 727,000
Proceeds from ATM, net 5,622,000 9,331,000
Net cash provided by financing activities 12,144,000 10,426,000
Net increase (decrease) in cash and cash equivalents 1,156,000 5,167,000
Cash and cash equivalents at beginning of period 8,137,000 6,533,000
Cash and cash equivalents at end of period 9,293,000 11,700,000
Supplemental disclosure of cash flows information    
Cash paid for income taxes 2,000 2,000
Cash paid for interest 7,000 0
Supplemental disclosure of non-cash transactions    
Change in property and equipment resulting from change in accounts payable (218,000) 793,000
Change in property and equipment resulting from change in accrued expenses (136,000) 0
Change in investing activity resulting from issuance of equity $ 0 $ (1,268,000)

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