Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows (Unaudited)

v3.21.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Cash Flows from Operating Activities:    
Net loss $ (7,366) $ (1,973)
Reconciliation of net loss to net cash used in operating activities:    
Stock-based compensation 366 72
Amortization of operating lease right-of-use assets 117 120
Depreciation and amortization expense 126 145
Change in fair value of share-settlement obligation derivative 250
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
Loss on conversion of debt 2,518
Changes in operating assets and liabilities net of impacts of business combination:    
Trade accounts and other receivables 138 (39)
Inventory 6 (69)
Prepaid expenses and other current assets (110) 201
Accounts payable (727) 247
Obligations under operating leases (117) (122)
Accrued expenses and other current liabilities 251 (117)
Net cash used in operating activities (4,585) (1,535)
Cash Flows from Investing Activities:    
Equipment purchases (26)
Cash acquired from acquisition 30,163
Net cash provided by investing activities 30,137
Cash Flows from Financing Activities:    
Issuance of common stock 4 23
Issuance of Series B Preferred stock, net of issuance costs 1,269
Issuance of Series C Preferred Stock, net of issuance costs 1,786
Convertible note proceeds 5,022
Principal payments on long-term debt (82)
Proceeds from related party note 25
Principal payments on obligations under finance leases (19)
Net cash provided by financing activities 6,730 1,298
Net increase (decrease) in cash and cash equivalents 32,282 (237)
Cash and cash equivalents, and restricted cash beginning of the period 792 315
Cash and cash equivalents, and restricted cash end of the period 33,074 78
Cash and cash equivalents 32,337 78
Restricted cash 737
Total cash and cash equivalents and restricted cash 33,074 78
Supplemental disclosure of cash flow information:    
Cash paid for interest 2
Non-cash investing activities:    
Fair value of non-Cash merger consideration 59,920
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
Reclass warrant liability to equity upon Merger $ 421