Annual report [Section 13 and 15(d), not S-K Item 405]

CONSOLIDATED STATEMENTS OF CASH FLOW

v3.26.1
CONSOLIDATED STATEMENTS OF CASH FLOW - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
OPERATING ACTIVITIES    
Net loss $ (958) $ (2,394)
Adjustments to reconcile net loss to net cash flows used in operating activities:    
Depreciation and amortization 192 334
Stock-based compensation 497 258
Amortization of debt discount 513 209
Amortization of right of use assets 238 122
Gain in fair value of contingent consideration liabilities 0 (188)
Gain on debt extinguishment (38) 0
Benefit from reversal of accrued payroll tax (Note 12) (522) 0
Deferred taxes 3 (15)
Other 138 355
Change in operating assets and liabilities:    
Accounts receivable, net 124 (84)
Inventory 827 803
Prepaid expenses and other 166 342
Accounts payable and accrued expenses (1,342) (467)
Operating lease liability (245) (136)
Net cash flows used in operating activities (407) (861)
INVESTING ACTIVITIES    
Purchases of property and equipment (109) (18)
Acquisition of business, net of cash acquired 0 (10)
Net cash flows used in investing activities (109) (28)
FINANCING ACTIVITIES    
Proceeds from note payable 1,650 900
Debt issuance costs related to note payable (90) (5)
Repayment of note payable (1,050) (622)
Repayment of unsecured debt (173) (241)
Net cash flows provided by financing activities 337 32
Effect of exchange rate changes on cash 3 (6)
Net decrease in cash (176) (863)
Cash, beginning of year 454 1,317
Cash, end of year 278 454
Supplemental cash flow disclosures:    
Interest paid 6 8
Supplemental disclosure of non-cash transactions:    
Purchase of insurance through issuance of note payable (Note 8) 160 177
Right of use asset financed by lease liabilities 486 49
Debt issuance cost for note payable (550) (284)
Services paid with common stock 60 182
Fair value of assets acquired, excluding cash 0 414
Liabilities assumed 0 (73)
Goodwill on acquisition 0 640
Common stock consideration 0 (871)
Contingent consideration 0 (100)
Cash paid for acquisition $ 0 $ 10