Annual report pursuant to Section 13 and 15(d)

Consolidated Statements Of Cash Flows

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Consolidated Statements Of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Cash Flows from Operating Activities:      
Net loss $ (20,632) $ (28,634) $ (16,158)
Adjustments to reconcile net loss to net cash and cash equivalents used in operating activities:      
Depreciation 2,798 497 400
Provision for bad debts 533 40 (202)
Provision for inventory excess and obsolescence 715 1,312 (275)
Inventory write-offs and disposals 0 1,486 (122)
Amortization of debt issuance costs 426 1,196 515
Patent litigation mark-to-market 0 0 315
Change in fair value of warrants (494) 0 0
Issuance Of Restricted Shares 0 109 164
Issuance costs for warrants 447 0 0
Stock-based compensation 1,232 2,303 1,662
Gain on debt forgiveness 0 0 (3,014)
Gain on disposal of fixed assets (141) 0 0
Changes in operating assets and liabilities:      
Accounts receivable 201 (1,643) (978)
Inventory 969 (5,754) (1,375)
Prepaid expenses and other current assets 1,527 (1,135) 285
Accounts payable and accrued liabilities (1,851) 3,521 1,765
Deferred revenue 179 (59) 308
Net cash and cash equivalents used in operating activities (14,091) (26,761) (16,710)
Cash Flows from Investing Activities:      
Purchases of property, plant, and equipment (1,311) (3,727) (707)
Proceeds from disposal of property, plant, and equipment 182 0 0
Net cash and cash equivalents used in investing activities (1,129) (3,727) (707)
Cash Flows from Financing Activities:      
Gross proceeds 9,553 5,602 14,420
Proceeds from the sale of Convertible Preferred Stock, net of fees 5,490 0 0
Proceeds from the sale of warrants, net of fees 1,743 0 0
Principal payment on loan (165) (1,000) 0
Payments of equity offering costs 0 0 (1,135)
Payments of debt issuance costs 0 0 (25)
Proceeds from the exercise of common stock warrants 114 1 16,562
Procees from the exercise of preferred share warrants 699 0 0
Proceeds from exercise of stock options 0 0 132
Net cash and cash equivalents provided by financing activities 17,434 4,603 29,954
Effect of exchange rate changes 171 (109) (238)
Increase (decrease) in cash and cash equivalents 2,385 (25,994) 12,299
Cash, cash equivalents and restricted cash, beginning of year 4,181 30,175 17,876
Cash, cash equivalents and restricted cash, end of year 6,566 4,181 30,175
Supplemental cash flow disclosure:      
Cash paid for interest 1,918 1,519 1,771
Cash received for interest 9 26 56
Cash paid for income taxes 41 59 171
Cash paid for operating leases 302 254 246
Non-cash settlement of liability 0 0 510
Non-cash right-of-use assets obtained in exchange for lease obligations 483 574 150
Deemed dividend on preferred stock 0 217 546
Receivable from warrants exercised and included in prepaid and other current assets 0 0 (1,498)
Non-cash property, plant and equipment additions acquired under inventory 2,768 0 0
Common stock issued upon exercise of preferred stock $ 22,037 $ 0 $ 0