Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

v3.24.3
Condensed Consolidated Statements of Cash Flows - USD ($)
 3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2024
Mar. 31, 2024
Sep. 30, 2023
Mar. 31, 2023
Sep. 30, 2024
Sep. 30, 2023
Dec. 31, 2023
CASH FLOWS FROM OPERATING ACTIVITIES              
Net loss $ (5,864,000) $ (4,612,000) $ (2,859,000) $ (2,300,000) $ (15,505,000) $ (19,678,000)  
Adjustments to reconcile net loss to net cash used in operating activities:              
Stock-based compensation and employee inducement award         4,577,000 446,000  
Depreciation and amortization         694,000 542,000  
Loss on extinguishment of warrant liability 0   0   0 504,000  
Change in fair value of warrant liability 0   (2,688,000)   0 (10,424,000) $ 500,000
Change in fair value of derivative liability 0   (401,000)   0 (401,000)  
Gain on issuance of convertible note         0 (64,000)  
Loss on extinguishment of debt 0   0   0 2,345,000  
Change in fair value of notes         0 7,040,000  
Amortization of deferred debt issuance costs         1,083,000 6,800,000  
Amortization of right-of-use assets         541,000 339,000  
Loss on disposal of equipment         0 380,000  
Other non-cash expenses in relation to warrant modification and additional paid-in capital         63,000 467,000  
Changes in operating assets and liabilities:              
Prepaid and other assets         84,000 136,000  
Accounts and retention receivables         (4,786,000) 0  
Contract assets         (255,000) 0  
Contract liabilities         240,000 0  
Accounts payable         2,297,000 732,000  
Accrued expenses         (277,000) (575,000)  
Lease liabilities         (518,000) (398,000)  
Net cash used in operating activities         (11,762,000) (11,809,000)  
CASH FLOWS FROM INVESTING ACTIVITIES              
Cash paid for acquisition of Amerigen 7         0 (645,000)  
Purchases of property and equipment         (2,123,000) (1,084,000)  
Advances on note receivables         (243,000) 0  
Repayments of note receivables         85,000 0  
Net cash used in investing activities         (2,281,000) (1,729,000)  
CASH FLOWS FROM FINANCING ACTIVITIES              
Proceeds from the exercise of warrants         0 2,062,000  
Proceeds from the issuance of common stock / at-the-market offering, net of offering costs         1,771,000 3,787,000  
Proceeds from the issuance of notes in connection with line of credit         0 2,350,000  
Proceeds from issuance of Series F-1 preferred stock         0 2,328,000  
Proceeds from issuance of Series F-2 preferred stock         0 748,000  
Proceeds from issuance of Senior Secured Notes, net of fees paid         0 1,357,000  
Proceeds from lines-of-credit         1,118,000 0  
Payments of notes payable         (40,000) (2,348,000)  
Repayments of lines-of-credit         (1,118,000) 0  
Proceeds from the issuance of common stock in connection with equity line of credit, net of offering costs         14,340,000 4,489,000  
Net cash provided by financing activities         16,071,000 14,773,000  
Net increase in cash         2,028,000 1,235,000  
Cash — beginning of period   $ 1,059,000   $ 821,000 1,059,000 821,000 821,000
Cash — end of period 3,087,000   2,056,000   3,087,000 2,056,000 $ 1,059,000
SUPPLEMENTAL CASH FLOW INFORMATION              
Cash paid for interest         150,000 9,000  
Cash paid for taxes         2,000 0  
Right-of-use assets in exchange of operating lease liabilities         560,000 0  
Reduction of right-of-use and lease liability due to termination         0 802,000  
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES:              
Net impact of reclassification of common stock to APIC in connection with reverse stock split         10,000 0  
Issuance of Series E preferred stock in connection with line of credit         0 4,350,000  
Issuance of common stock in connection with equity line of credit         0 114,000  
Issuance of Series F preferred stock in connection with exchange of Series D preferred stock         0 450,000  
Issuance of common stock in connection with conversion of notes         0 2,681,000  
Issuance of common stock in connection with Senior Secured Notes settlement         0 1,160,000  
Conversion of Senior Secured Notes into Series F preferred stock in connection with Exchange Agreements         0 82,000  
Purchase of property and equipment included in accounts payable         540,000 23,000  
Property and equipment acquired through notes payable         49,000 0  
Commitment to issue shares of common stock in connection with Demand Notes         0 286,000  
Series A Preferred Stock              
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES:              
Conversion of preferred stock into common stock         251,000 0  
Series B Preferred Stock              
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES:              
Conversion of preferred stock into common stock         1,530,000 0  
Series C Preferred Stock              
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES:              
Conversion of preferred stock into common stock         501,000 0  
Series F preferred stock ("Series F")              
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES:              
Conversion of preferred stock into common stock         4,438,000 0  
Series F-1 Preferred Stock Converted To Common Stock              
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES:              
Conversion of preferred stock into common stock         653,000 0  
Series F-2 Preferred Stock Converted To Common Stock              
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES:              
Conversion of preferred stock into common stock         1,163,000 0  
Series A, Series B and Series C Preferred Stock              
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES:              
Deemed dividends $ 0   $ 0   1,350,000 0  
Series F-1, F-2 and F-3 Preferred Stock              
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES:              
Deemed dividends         $ 3,874,000 $ 0