Cash Flow

v3.24.3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash flows from operating activities:    
Net loss $ (17,112,000) $ (13,912,000)
Reconciliation of net loss to net cash used in operating activities    
Depreciation and ROU asset amortization 867,000 770,000
Amortization of intellectual property 117,000 135,000
Fair value of common stock issued for director fees 23,000 96,000
Fair value of common stock issued for consulting services 150,000 12,000
Stock-based compensation 2,163,000 1,880,000
Warrant expense 0 181,000
Amortization of deferred financing costs 29,000 119,000
Loss (gain) on disposal of property, plant and equipment 448,000 (23,000)
Inventory net realizable value adjustment 268,000 0
Write off of debt issuance costs 563,000 0
Changes in operating assets and liabilities    
Proceeds from leasing of building 0 12,278,000
Accounts receivable (419,000) (64,000)
Inventory 330,000 (612,000)
Prepaid expenses and other current assets 33,000 91,000
Accounts payable (43,000) 322,000
Accrued expenses 1,030,000 1,181,000
Other assets and liabilities (84,000) (232,000)
Net cash provided by (used in) operating activities (11,637,000) 2,222,000
Cash flows from investing activities:    
Purchases of property, plant and equipment (7,452,000) (6,142,000)
Proceeds from sale of equipment 15,000 70,000
Proceeds from note receivable 350,000 0
Equipment deposits (3,975,000) (222,000)
Net cash used in investing activities (11,062,000) (6,294,000)
Cash flows from financing activities:    
Proceeds from issuance of common stock and warrants, net of transaction costs 7,306,000 22,947,000
Proceeds from employee stock purchase plan 35,000 14,000
Payments on note payable 0 (6,000,000)
Principal payments on finance leases (58,000) 0
Proceeds from note payable, net 0 2,931,000
Cash paid for tax withholdings on RSUs vesting (552,000) (1,092,000)
Debt issuance costs (424,000) 0
Proceeds from ATM, net 2,820,000 3,788,000
Net cash provided by financing activities 9,127,000 22,588,000
Net decrease in cash and cash equivalents (13,572,000) 18,516,000
Cash and cash equivalents at beginning of period 16,522,000 7,082,000
Cash and cash equivalents at end of period 2,950,000 25,598,000
Supplemental disclosure of cash flows information    
Cash paid for income taxes 3,000 0
Cash paid for interest 249,000 399,000
Supplemental disclosure of non-cash transactions    
Acquisitions of property, plant and equipment included in accounts payable 758,000 39,000
Acquisitions of property, plant and equipment included in accrued expenses 646,000 674,000
Equity included in accrued expenses $ 0 $ 608,000

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