v3.22.2.2
CONDENSED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
OPERATING ACTIVITIES    
Net loss $ (4,870) $ (6,657)
Adjustments to reconcile net loss to net cash flows used in operating activities:    
Depreciation and amortization 860 402
Stock-based compensation 662 1,569
Loss on disposal of fixed assets 159 0
Convertible note discount and interest expense 1,034 0
Employee retention credit benefit (1,993) 0
Non-cash lease expense, net 19 268
Other 205 211
Change in operating assets and liabilities:    
Accounts receivable, net 1,019 (85)
Inventory 1,267 (336)
Prepaid expenses and other 885 822
Accounts payable and accrued expenses (795) (947)
Net cash used in operating activities (1,548) (4,753)
INVESTING ACTIVITIES    
Purchases of property and equipment 0 (35)
Net cash flows used in investing activities 0 (35)
FINANCING ACTIVITIES    
Proceeds from issuance of preferred stock and common stock warrants, net of issuance costs 554 0
Proceeds from issuance of convertible notes, net of issuance costs 954 0
Proceeds from issuance of common stock 0 3,853
Repayment of unsecured debt (221) (629)
Net cash flows provided by financing activities 1,287 3,224
Net decrease in cash, cash equivalents and restricted cash (261) (1,564)
Cash, cash equivalents and restricted cash, beginning of period 1,375 4,525
Cash, cash equivalents and restricted cash, end of period 1,114 2,961
Supplemental cash flow disclosure:    
Interest paid 4 7
Supplemental disclosures of non-cash transactions:    
Convertible note principal conversion into shares of common stock (1,030) 0
Services paid with common stock 384 0
Right of use ("ROU") assets obtained in exchange for lease liability $ 345 $ 0

Source