Cash Flow

v3.21.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Cash flows from operating activities:    
Net loss $ (12,102,000) $ (8,410,000)
Reconciliation of net loss to net cash used in operating activities    
Depreciation 724,000 1,236,000
Amortization of intellectual property 90,000 90,000
Accretion of asset retirement obligation 0 24,000
Fair value of RSUs issued for consulting services 34,000 24,000
Stock-based compensation 1,299,000 1,510,000
Amortization of deferred financing costs 0 18,000
Inventory NRV adjustment 146,000 0
Loss on disposal of property and equipment 4,254,000 0
Forgiveness of PPP Loan (332,000) 0
Changes in operating assets and liabilities    
Accounts receivable (258,000) 244,000
Inventory 283,000 49,000
Prepaid expenses and other current assets 320,000 733,000
Accounts payable 222,000 (1,953,000)
Accrued expenses 680,000 (1,671,000)
Other assets and liabilities (300,000) (217,000)
Net cash used in operating activities (4,940,000) (8,323,000)
Cash flows from investing activities:    
Purchases of property and equipment (1,217,000) (2,239,000)
Proceeds from sale of equipment 275,000 0
Equipment deposits and other assets 43,000 (36,000)
Insurance proceeds 0 7,625,000
Investment in LiNiCo (232,000) 0
Net cash (used in) provided by investing activities (1,131,000) 5,350,000
Cash flows from financing activities:    
Proceeds from PPP Loan 0 332,000
Payments on notes payable 0 (158,000)
Lease of building 184,000 0
Proceeds from exercise of stock options 727,000 0
Proceeds from ATM, net 9,331,000 0
Net cash provided by financing activities 10,242,000 174,000
Net increase (decrease) in cash and cash equivalents 4,171,000 (2,799,000)
Cash and cash equivalents at beginning of period 6,533,000 7,575,000
Cash and cash equivalents at end of period 10,704,000 4,776,000
Supplemental disclosure of cash flows information    
Cash paid for income taxes 2,000 2,000
Cash paid for interest 0 308,000
Supplemental disclosure of non-cash transactions    
Change in accounts receivable resulting from insurance funds held in escrow 0 4,875,000
Change in property and equipment resulting from change in accounts payable 538,000 (994,000)
Change in property and equipment resulting from change in accrued expenses 0 (287,000)
Change in equity resulting from change in accrued expenses 0 24,000
Change in investing activity resulting from issuance of equity $ (1,268,000) $ 0

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