Transition report pursuant to Rule 13a-10 or 15d-10

Statements of Cash Flows

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Statements of Cash Flows - USD ($)
$ in Thousands
 9 Months Ended 12 Months Ended
Dec. 31, 2021
Mar. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES    
Net loss $ (16,487) $ (40,755)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation 8,458 14,126
Issuance of common stock to consultants 244 305
Depreciation and amortization 225 103
(Gain) loss on extinguishment of debt (7) 14,257
Gain on forgiveness of PPP loan (431)  
Loss on exchange of notes payable for common stock and warrants 1,527
Amortization of debt discount 2,713
Non-cash expenses for placement agent 55
Change in fair value of warrant liability 2,361
Change in fair value of derivative liability 13
Changes in operating assets and liabilities:    
Prepaid and other assets (500) (353)
Account payable (126) (802)
Accrued expenses 87 (554)
Accrued interest 420
Net cash used in operating activities (8,537) (6,584)
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchase of equipment (552) (159)
Purchase of patents (264) (1,475)
Net cash used in investing activities (816) (1,634)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from the issuance of common stock, net of fees 20,925
Proceeds from the exercise of stock options 186 180
Proceeds from related parties non interest bearing advance 25
Repayment of senior secured promissory note (200)
Proceeds from PPP loan 438
Repayment of related party non interest bearing advance (74)
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)
Net cash provided by financing activities 186 23,467
Net (decrease) increase in cash (9,167) 15,249
Cash — beginning of year 15,297 48
Cash — end of year 6,130 15,297
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING    
Beneficial conversion feature in connection with notes payable 619
Issuance of common stock and preferred stock in connection with conversion of notes 23,716
Repurchase beneficial conversion feature in connection with conversion of notes payable (6,647)
Issuance of common stock in connection with notes payable 1,134
Issuance of common stock in satisfaction of accounts payable 122
Reclassification of warrant liabilities 5,627
Issuance of common stock warrants in connection with note exchange agreements 4,918
Issuance of common stock warrants in connection with notes payable 263
Unpaid equipment included in accounts payable 206
SUPPLEMENTAL CASH FLOW INFORMATION    
Cash paid for interest 6 60
Cash paid income taxes