Annual report pursuant to Section 13 and 15(d)

Consolidated Statement of Cash Flows

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Consolidated Statement of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Operating activities    
Net loss $ (9,764) $ (15,825)
Adjustments to reconcile net loss to net cash used in operating activities    
Depreciation 561 620
Changes in allowance for doubtful accounts 75 65
Gain on forgiveness of note payable (1,099) 0
Loss on impairment of goodwill 0 189
Common stock contribution to 401(k) plan 171 169
Stock-based compensation expense 2,329 2,410
Finance cost attributable to issuance of warrants 0 329
(Gain) loss on revaluation of warrant liabilities (3,962) 3,056
Other adjustments 134 56
Unrealized loss (gain) on foreign currency transactions 867 (947)
Changes in operating assets and liabilities:    
Accounts receivable (1,624) 1,754
Inventories (752) 379
Prepaid expense, right-of-use assets, and other assets current and noncurrent expenses 481 247
Accounts payable 1,612 (402)
Accrued, lease and other noncurrent liabilities 379 (876)
Deferred revenues (564) 21
Net cash used in operating activities (11,156) (8,755)
Investing activities    
Acquisition of property and equipment (59) 0
Net cash used in investing activities (59) 0
Financing activities    
Proceeds from issuance of common stock and warrants, net 37,295 7,082
Principal payments on notes payable 0 (1,278)
Payment of remaining balance on long-term debt 0 (1,512)
Proceeds from exercise of common stock warrants 1,417 3,334
Proceeds from issuance of long-term debt, net of financing costs 0 3,078
Net cash provided by financing activities 38,712 10,704
Effect of exchange rate changes on cash 47 41
Net increase in cash 27,544 1,990
Cash at beginning of the year 12,862 10,872
Cash at end of the year 40,406 12,862
Supplemental disclosure of cash flow activities    
Cash paid for interest 104 109
Cash paid for income taxes 1 6
Supplemental disclosure of non-cash activities    
Reclassification of warrant liability to equity upon exercise of warrants 2,461 3,976
Share issuance for common stock contribution to 401(k) plan 152 155
Transfer of inventory to property and equipment 434 132
Share issuance in lieu of cash compensation 0 50
Fair value of warrants issued upon equity financing $ 1,936 $ 0