v3.20.4
CONSOLIDATED STATEMENTS OF CASH FLOW - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
OPERATING ACTIVITIES    
Net loss $ (22,284) $ (16,610)
Adjustments to reconcile net loss to net cash flows used in operating activities:    
Depreciation and amortization 872 716
Common stock issued for commitment fee 100 0
Stock-based compensation 3,881 5,589
Stock-based compensation associated with founders employment settlements (Note 11) 0 9,531
Derecognition of tax receivable for founder RSU settlement (Note 11) 6,229 0
Loss on disposal of fixed assets 191 0
Bad debt expense 133 236
Non-cash lease expense 598 817
Deferred taxes (264) (644)
Other 134 0
Change in operating assets and liabilities:    
Accounts receivable 918 927
Inventory 1,703 (1,421)
Prepaid expenses and other current assets 2,959 (3,016)
Accounts payable and accrued expenses (2,470) 1,648
Net cash used in operating activities (7,300) (2,227)
INVESTING ACTIVITIES    
Purchase of equipment (1,057) (1,147)
Net cash used in investing activities (1,057) (1,147)
FINANCING ACTIVITIES    
Proceeds from debt 2,906 0
Repayment of unsecured debt 0 (474)
Proceeds from issuance of common stock 193 0
Proceeds from exercise of stock options 175 521
Net cash provided by financing activities 3,274 47
Net decrease in cash, cash equivalents and restricted cash (5,083) (3,327)
Cash, cash equivalents and restricted cash, beginning of year 9,608 12,935
Cash, cash equivalents and restricted cash, end of year 4,525 9,608
Supplemental cash flow disclosures:    
Interest paid 0 9
Income taxes paid 20 99
Supplemental disclosure of non-cash transactions:    
Purchase of property and equipment in accounts payable and accrued expenses 15 89
Derecognition of operating ROU asset related to operating lease termination (4,704) 0
Sale of property and equipment in exchange for note receivable (recorded in prepaid expense and other) and inventory 675 0
Purchase of insurance through issuance of note payable (Note 7) 721 0
Operating ROU lease assets obtained in exchange for operating lease liabilities 0 5,405
Recognition of founder RSU tax withholding obligation and receivable (Note 11) 0 6,409
Cashless exercise of options $ 108 $ 39

Source