v3.21.2
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
Dec. 31, 2020
Cash Flows from Operating Activities:          
Net loss $ (4,186) $ (1,333) $ (11,552) $ (3,306)  
Reconciliation of net loss to net cash used in operating activities:          
Stock-based compensation     728 133  
Amortization of operating lease right-of-use assets     135 244  
Depreciation and amortization expense     567 287  
Change in fair value of share-settlement obligation derivative     250 211  
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 13  
Loss on conversion of debt     2,518  
PPP loan forgiveness     (649)  
Loss on equipment     6 29  
Changes in operating assets and liabilities, net of impacts of business combination:          
Trade accounts and other receivables     (34) (54)  
Inventory     8 (50)  
Prepaid expenses and other current assets     (1,208) 151  
Accounts payable     (1,081) 459  
PPP loan proceeds     730  
Obligations under operating leases     (162) (247)  
Accrued expenses and other current liabilities     (808) 12  
Net cash used in operating activities     (10,670) (2,037)  
Cash Flows from Investing Activities:          
Purchase of equipment     (520)  
Proceeds from sale of equipment     17  
Cash acquired from acquisition     30,163  
Net cash provided by investing activities     29,643 17  
Cash Flows from Financing Activities:          
EIDL loan proceeds     67  
Issuance of common stock     4 23  
Issuance of Series B Preferred stock, net of issuance costs     1,250  
Issuance of Series C Preferred stock, net of issuance costs     1,786  
2020 Convertible Note proceeds     5,022 332  
Principal payments on long-term debt     (82)  
Proceeds from related party notes     80  
Principal payments on obligations under finance leases     (10) (37)  
Net cash provided by financing activities     6,720 1,715  
Net increase (decrease) in cash and cash equivalents     25,693 (305)  
Cash and cash equivalents, beginning of the period     792 315 $ 315
Total cash and cash equivalents, end of period $ 26,485 $ 10 26,485 10 $ 792
Supplemental disclosure of cash flow information:          
Cash paid for interest     7  
Cash paid for income taxes      
Non-cash investing activities:          
Fair value of non-cash merger consideration     59,920  
Equipment purchases in accounts payable     37  
Right-of-use assets obtained in exchange for new operating lease liabilities     83  
Non-cash financing activities:          
Conversion of 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 Preferred stock for 2020 Convertible Notes     2,569  
Reclass warrant liability to equity upon Merger     $ 421  

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