v3.21.2
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Dec. 31, 2020
Cash Flows from Operating Activities:          
Net loss $ (4,461) $ (2,990) $ (16,013) $ (6,296)  
Reconciliation of net loss to net cash used in operating activities:          
Stock-based compensation     1,025 326  
Amortization of operating lease right-of-use assets     316 370  
Depreciation and amortization expense     912 428  
Change in fair value of share-settlement obligation derivative     250 220  
Change in fair value of warrant liability (214)  
Change in fair value of 2020 Convertible Note with fair value election     4  
Accretion of debt discount     173 116  
Loss on conversion of debt     2,518  
PPP loan forgiveness     (649)  
Other     (14) 29  
Changes in operating assets and liabilities, net of impacts of business combination:          
Trade accounts and other receivables     40 (173)  
Inventory     (66) (18)  
Prepaid expenses and other current assets     (726) 101  
Accounts payable     (981) 710  
PPP loan proceeds     730  
Obligations under operating leases     (370) (375)  
Accrued expenses and other current liabilities     (844) 135  
Net cash used in operating activities     (13,990) (4,346)  
Cash Flows from Investing Activities:          
Purchase of equipment     (521) (6)  
Proceeds from patent held for sale and equipment sales     50 17  
Cash acquired from acquisition     30,163  
Net cash provided by investing activities     29,692 11  
Cash Flows from Financing Activities:          
EIDL loan proceeds     67  
Issuance of Common Stock     4 85  
Issuance of Series B Convertible Preferred Stock, net of issuance costs     1,250  
Issuance of Series C Convertible Preferred Stock, net of issuance costs     1,786  
2020 Convertible Note proceeds, net of issuance costs     5,022 4,548  
Principal payments on long-term debt     (82)  
Proceeds from related party notes     80  
Principal payments on obligations under finance leases     (21) (55)  
Net cash provided by financing activities     6,709 5,975  
Net increase in cash and cash equivalents     22,411 1,640  
Cash and cash equivalents, beginning of the period     792 315 $ 315
Total cash and cash equivalents, end of period $ 23,203 $ 1,955 23,203 1,955 $ 792
Supplemental disclosure of cash flow information:          
Cash paid for interest     1 5  
Cash paid for income taxes     1  
Non-cash investing activities:          
Fair value of non-cash merger consideration     59,920  
Right-of-use assets obtained in exchange for new operating lease liabilities     83 373  
Non-cash financing activities:          
Conversion of Convertible Preferred Stock to Common Stock upon Merger     30,793  
Conversion of 2020 Convertible Notes and accrued interest to Common Stock upon Merger     16,190  
Exchange of Series B Convertible Preferred Stock for 2020 Convertible Notes     2,593  
Related party note payable converted to 2020 Convertible Notes     55  
Related party note payable exchanged for stock option exercise     26  
Reclass warrant liability to equity upon Merger     $ 421  

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