Cash Flow

v3.25.1
Consolidated Statements of Cash Flows - USD ($)
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Cash flows from operating activities:    
Net loss $ (24,555,000) $ (23,938,000)
Reconciliation of net loss to net cash used in operating activities    
Depreciation and ROU asset amortization 1,139,000 1,091,000
Amortization of intellectual property 135,000 180,000
Warrant expense 0 181,000
Fair value of common stock issued for consulting services 150,000 12,000
Fair value of common stock issued for director fees 37,000 96,000
Stock-based compensation 2,737,000 2,534,000
Amortization of deferred financing costs 73,000 128,000
Loss (gain) on disposal of property, plant and equipment 440,000 (23,000)
Impairment of equipment deposits 2,640,000 4,851,000
Impairment of LINICO investment 0 1,400,000
Inventory NRV adjustment 283,000 0
Write off of debt issuance costs 563,000 0
Accrued interest expense 10,000 0
Change in fair value of warrant liability 507,000 (0)
Changes in operating assets and liabilities    
Proceeds from sale and leasing of building 0 12,278,000
Accounts receivable 67,000 (55,000)
Inventory 396,000 (651,000)
Prepaid expenses and other current assets (33,000) 82,000
Accounts payable (21,000) 139,000
Accrued expenses 1,930,000 209,000
Other assets and liabilities (130,000) (307,000)
Net cash used in operating activities (13,632,000) (3,193,000)
Cash flows from investing activities:    
Purchases of property, plant and equipment (7,921,000) (5,598,000)
Proceeds from sale of equipment 22,000 70,000
Proceeds from note receivable 500,000 0
Equipment deposits (4,237,000) (4,285,000)
Net cash used in investing activities (11,636,000) (9,813,000)
Cash flows from financing activities:    
Proceeds from issuance of common stock, net of transaction costs 7,306,000 22,947,000
Proceeds from employee stock purchase plan 54,000 14,000
Payments on note payable 0 (6,000,000)
Principal payments on finance leases (72,000) 0
Cash paid for tax withholdings on RSUs vesting (552,000) (1,092,000)
Cash paid for reverse split fractional shares (1,000) 0
Debt issuance costs (424,000) (140,000)
Proceeds from ATM, net 5,014,000 3,786,000
Net cash provided by financing activities 12,825,000 22,446,000
Net increase (decrease) in cash and cash equivalents (12,443,000) 9,440,000
Cash and cash equivalents at beginning of period 16,522,000 7,082,000
Cash and cash equivalents at end of period 4,079,000 16,522,000
Supplemental disclosure of cash flow information:    
Cash paid for interest 333,000 480,000
Cash paid for income taxes 3,000 0
Supplemental disclosure of non-cash transactions    
Acquisitions of property, plant and equipment included in accounts payable 485,000 1,072,000
Acquisitions of property, plant and equipment included in accrued expenses 0 1,857,000
Increase in note receivable resulting from sale of investment 0 600,000
Increase in equity included in accrued expenses 0 608,000
Related Party [Member]    
Cash flows from financing activities:    
Proceeds from note payable, net 1,500,000 0
Nonrelated Party [Member]    
Cash flows from financing activities:    
Proceeds from note payable, net 0 2,931,000
Asset under Construction [Member]    
Reconciliation of net loss to net cash used in operating activities    
Impairment of equipment deposits $ 2,640,000 $ 3,451,000

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