Cash Flow

v3.22.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash flows from operating activities:    
Net loss $ (4,410,000) $ (4,086,000)
Reconciliation of net loss to net cash used in operating activities    
Depreciation 365,000 454,000
Amortization of intellectual property 45,000 45,000
Fair value of RSUs issued for consulting services 0 34,000
Stock-based compensation 605,000 679,000
Loss on disposal of property and equipment 150,000 0
Forgiveness of PPP Loan 0 (131,000)
Changes in operating assets and liabilities    
Accounts receivable 72,000 32,000
Inventory 78,000 0
Prepaid expenses and other current assets (71,000) 61,000
Accounts payable 87,000 447,000
Accrued expenses (221,000) 457,000
Other assets and liabilities (289,000) (148,000)
Net cash used in operating activities (3,589,000) (2,156,000)
Cash flows from investing activities:    
Purchases of property and equipment (258,000) (469,000)
Proceeds from sale of equipment 1,145,000 0
Equipment deposits and other assets 30,000 (158,000)
Investment in LINICO (500,000) (232,000)
Net cash (used in) provided by investing activities 417,000 (859,000)
Cash flows from financing activities:    
Lease of building 185,000 0
Stock option exercise 0 724,000
Proceeds from ATM, net 3,890,000 7,485,000
Net cash provided by financing activities 4,075,000 8,209,000
Net increase in cash and cash equivalents 903,000 5,194,000
Cash and cash equivalents at beginning of period 8,137,000 6,533,000
Cash and cash equivalents at end of period 9,040,000 11,727,000
Supplemental disclosure of cash flows information    
Cash paid for income taxes 2,000 2,000
Cash paid for interest 3,000 0
Supplemental disclosure of non-cash transactions    
Change in property and equipment resulting from change in accounts payable (253,000) 303,000
Change in investing activity resulting from issuance of equity $ 0 $ (1,268,000)

Source