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
CASH FLOWS FROM OPERATING ACTIVITIES    
Net loss $ (28,984) $ (14,315)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation 714 2,405
Depreciation and amortization 733 503
Loss on extinguishment of warrant liability 504
Change in fair value of warrant liability (10,458) (1,023)
Change in fair value of liability (401)
Gain on issuance of convertible note (64)
Loss on extinguishment of debt 2,345
Change in fair value of notes 7,040 149
Amortization of deferred debt issuance costs 9,341 73
Amortization of right of use assets 626 494
Other expenses 628
Impairment of Goodwill 649
Intangible asset impairment 200
Loss on lease termination 214
Loss on disposal of equipment 144 52
Changes in operating assets and liabilities:    
Prepaid and other assets 61 182
Accounts receivable (83)
Accounts payable 1,253 413
Accrued expenses 440 323
Lease liability (1,062) (396)
Net cash used in operating activities (16,160) (11,140)
CASH FLOWS FROM INVESTING ACTIVITIES    
Cash paid for acquisition of Amerigen 7 (645)
Purchase of equipment (2,173) (751)
Purchase of patents (61)
Net cash used in investing activities (2,818) (812)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from the exercise of warrants 2,062
Proceeds from the issuance of common stock and warrants, net of fees 855
Proceeds from the issuance of common stock / At-the-market offering 8,398 1,295
Proceeds from the issuance of notes in connection with Line of Credit 2,350
Offering costs for the issuance of common stock / At-the-market offering (170) (46)
Proceeds from issuance of senior secured convertible notes and common stock warrants 3,500
Proceeds from issuance of Series D preferred stock and warrants, net of fees 1,039
Proceeds from issuance of Series F-1 preferred stock 2,328
Proceeds from issuance of Series F-2 preferred stock 748
Proceeds from issuance of January promissory notes, net of fees paid 1,357
Repayment of notes payable (2,348)
Proceeds from the issuance of common stock in connection with equity line of credit, net of offering costs 4,489
Net cash provided by financing activities 19,214 6,643
Net increase / decrease in cash 238 (5,309)
Cash — beginning of period 821 6,130
Cash — end of period 1,059 821
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES:    
Issuance of Series E preferred stock in connection with line of credit 4,350
Issuance of common stock in connection with equity line of credit 114
Issuance of Series F preferred stock in connection with exchange of Series D preferred stock 450
Issuance of common stock in connection with conversion of notes 2,165
Issuance of common stock in connection with Senior Secured Notes Settlement 1,160
Issuance of common stock warrants in connection with SLOC 223
Commitment to issue shares of common stock connection with Demand Notes 286
Conversion of Senior Secured Notes into Series F preferred stock 82
Issuance of common stock warrants in connection with consideration payable 86
Acquisitions of property and equipment included in liabilities 452 94
Right-of-use assets obtained in exchange for operating lease liabilities 1,168
Reduction of right of use asset and operating lease liability due to early lease termination 853
SUPPLEMENTAL CASH FLOW INFORMATION    
Cash paid for interest $ 14 $ 7