Annual report pursuant to Section 13 and 15(d)

Consolidated Statement of Cash Flows

v3.20.4
Consolidated Statement of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Operating activities    
Net loss $ (15,825) $ (12,132)
Adjustments to reconcile net loss to net cash used in operating activities    
Depreciation and amortization 620 690
Changes in allowance for doubtful accounts 65 52
Impairment of goodwill 189 0
Amortization of debt discount, change in contingent liability and accretion of final payment fee 28 64
Gain on modification of operating lease liabilities (38) 0
Loss on investment of unconsolidated affiliate 66 0
Common stock contribution to 401(k) plan 169 142
Stock-based compensation expense 2,410 2,255
Finance cost attributable to issuance of warrants 329 1,096
Loss (gain) on revaluation of warrant liabilities 3,056 (6,376)
Loss on modification of warrants 0 257
Unrealized (gain) loss on foreign currency transactions (947) 133
Changes in operating assets and liabilities:    
Accounts receivable 1,754 (1,599)
Inventories 379 959
Prepaid expense, operating lease right-of-use assets, and other assets, current and noncurrent 247 369
Accounts payable (402) (1,231)
Accrued and lease liabilities (876) (1,135)
Deferred revenues 21 684
Net cash used in operating activities (8,755) (15,772)
Investing activities    
Acquisition of property and equipment 0 (60)
Net cash used in investing activities 0 (60)
Financing activities    
Proceeds from issuance of common stock and warrants, net 7,082 21,188
Principal payments on notes payable (1,278) (2,377)
Payment of remaining balance on long-term debt (1,512) 0
Proceeds from exercise of stock options 0 228
Proceeds from exercise of common stock warrants 3,334 0
Proceeds from issuance of long-term debt, net of financing costs 3,078 0
Net cash provided by financing activities 10,704 19,039
Effect of exchange rate changes on cash 41 10
Net increase in cash 1,990 3,217
Cash at beginning of the year 10,872 7,655
Cash at end of the year 12,862 10,872
Supplemental disclosure of cash flow activities    
Cash paid for interest 109 309
Cash paid for income taxes 6 23
Supplemental disclosure of non-cash activities    
Reclassification of warrant liability to equity upon exercise of warrants 3,976 0
Share issuance for common stock contribution to 401(k) plan 155 191
Transfer of inventory to (from) property and equipment 132 (77)
Share issuance in lieu of cash compensation 50 919
Initial recognition of operating right-of-use assets 0 1,454
Initial recognition of operating lease liabilities 0 1,498
Share issuance for vesting of restricted stock 0 63
Change in deferred rent associated with ASC 842 0 44
Equipois sales earn-out $ 0 $ 22