| |
|
Nine months ended
December 31, |
|
| |
|
2021 |
|
|
2020 |
|
| |
|
|
|
|
(Unaudited) |
|
| CASH FLOWS FROM OPERATING ACTIVITIES |
|
|
|
|
|
|
| Net loss |
|
$ |
(16,487 |
) |
|
$ |
(20,082 |
) |
| Adjustments to reconcile net loss to net cash used in operating activities: |
|
|
|
|
|
|
|
|
| Stock-based compensation |
|
|
8,458 |
|
|
|
10,663 |
|
| Issuance of common stock to consultants |
|
|
244 |
|
|
|
302 |
|
| Depreciation and amortization |
|
|
225 |
|
|
|
57 |
|
| (Gain) loss on extinguishment of debt |
|
|
(7 |
) |
|
|
453 |
|
| Gain on forgiveness of PPP loan |
|
|
(431 |
) |
|
|
- |
|
| Loss on exchange of notes payable for common stock and warrants |
|
|
- |
|
|
|
1,521 |
|
| Amortization of debt discount |
|
|
- |
|
|
|
2,256 |
|
| Non-cash expenses for placement agent |
|
|
- |
|
|
|
55 |
|
| Change in fair value of warrant liability |
|
|
- |
|
|
|
1,337 |
|
| Change in fair value of derivative liability |
|
|
- |
|
|
|
(39 |
) |
| Changes in operating assets and liabilities: |
|
|
|
|
|
|
|
|
| Prepaid and other assets |
|
|
(500 |
) |
|
|
(189 |
) |
| Account payable |
|
|
(126 |
) |
|
|
120 |
|
| Accrued expenses |
|
|
87 |
|
|
|
(408 |
) |
| Accrued interest |
|
|
- |
|
|
|
349 |
|
| Net cash used in operating activities |
|
|
(8,537 |
) |
|
|
(3,605 |
) |
| CASH FLOWS FROM INVESTING ACTIVITIES |
|
|
|
|
|
|
|
|
| Purchase of equipment |
|
|
(552 |
) |
|
|
(82 |
) |
| Purchase of patents/R&D license |
|
|
(264 |
) |
|
|
(25 |
) |
| Net cash used in investing activities |
|
|
(816 |
) |
|
|
(107 |
) |
| CASH FLOWS FROM FINANCING ACTIVITIES |
|
|
|
|
|
|
|
|
| Proceeds from the issuance of common stock, net of fees |
|
|
- |
|
|
|
1,599 |
|
| Proceeds from the exercise of stock options |
|
|
186 |
|
|
|
- |
|
| Proceeds from related parties non-interest bearing advance |
|
|
- |
|
|
|
25 |
|
| Repayment of senior secured promissory note |
|
|
- |
|
|
|
(200 |
) |
| Proceeds from PPP loan |
|
|
- |
|
|
|
205 |
|
| Repayment of related party non interest bearing advance |
|
|
- |
|
|
|
(50 |
) |
| Repayment of notes payable |
|
|
- |
|
|
|
(53 |
) |
| Proceeds from issuance of senior secured convertible notes and common stock warrants |
|
|
- |
|
|
|
2,676 |
|
| Common stock repurchased and subsequently canceled |
|
|
- |
|
|
|
(450 |
) |
| Payment of financing costs |
|
|
- |
|
|
|
(52 |
) |
| Net cash provided by financing activities |
|
|
186 |
|
|
|
3,700 |
|
| Net decrease in cash |
|
|
(9,167 |
) |
|
|
(12 |
) |
| Cash — beginning of year |
|
|
15,297 |
|
|
|
48 |
|
| Cash — end of year |
|
$ |
6,130 |
|
|
$ |
36 |
|
| SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES: |
|
|
|
|
|
|
|
|
| Unpaid research and development license included in accounts payable |
|
$ |
- |
|
|
$ |
75 |
|
| Beneficial conversion feature in connection with notes payable |
|
$ |
- |
|
|
$ |
619 |
|
| Issuance of common stock in connection with conversion of notes |
|
$ |
- |
|
|
$ |
4,494 |
|
| Issuance of common stock in connection of notes payable |
|
$ |
- |
|
|
$ |
1,134 |
|
| Issuance of common stock in satisfaction of accounts payable |
|
$ |
- |
|
|
$ |
122 |
|
| Reclassification of warrant liabilities |
|
$ |
- |
|
|
$ |
2,061 |
|
| Issuance of common stock warrants |
|
$ |
- |
|
|
$ |
263 |
|
| Unpaid equipment included in accounts payable |
|
$ |
206 |
|
|
$ |
- |
|
| SUPPLEMENTAL CASH FLOW INFORMATION |
|
|
|
|
|
|
|
|
| Cash paid for interest |
|
$ |
6 |
|
|
$ |
60 |
|
| Cash paid income taxes |
|
$ |
- |
|
|
$ |
- |
|