Cash Flow

v3.21.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Cash flows from operating activities:    
Net loss $ (4,086) $ (4,427)
Reconciliation of net loss to net cash used in operating activities    
Depreciation 454 612
Amortization of intellectual property 45 45
Accretion of asset retirement obligation 0 12
Fair value of RSUs issued for consulting services 34 24
Stock-based compensation 679 956
Amortization of deferred financing costs 0 9
Forgiveness of PPP Loan (131) 0
Changes in operating assets and liabilities    
Accounts receivable 32 244
Inventory 0 48
Prepaid expenses and other current assets 61 558
Accounts payable 447 (740)
Accrued expenses 457 (1,522)
Other assets and liabilities (148) (81)
Net cash used in operating activities (2,156) (4,262)
Cash flows from investing activities:    
Purchases of property and equipment (469) (1,563)
Equipment deposits and other assets (158) (36)
Insurance proceeds 0 4,748
Investment in LiNiCo (232) 0
Net cash (used in) provided by investing activities (859) 3,149
Cash flows from financing activities:    
Payments on notes payable 0 (76)
Stock option exercise 724 0
Proceeds from ATM 7,485 0
Net cash provided by (used in) financing activities 8,209 (76)
Net increase (decrease) in cash and cash equivalents 5,194 (1,189)
Cash and cash equivalents at beginning of period 6,533 7,575
Cash and cash equivalents at end of period 11,727 6,386
Supplemental disclosure of cash flows information    
Cash paid for income taxes 2 0
Cash paid for interest 0 161
Supplemental disclosure of non-cash transactions    
Change in accounts receivable resulting from insurance funds held in escrow 0 2,750
Change in property and equipment resulting from change in accounts payable 303 (973)
Change in property and equipment resulting from change in accrued expenses 0 (189)
Change in equity resulting from change in accrued expenses 0 24
Change in investing activity resulting from issuance of equity $ (1,268) $ 0

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