v3.21.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Cash flows from operating activities:    
Net loss $ (3,292,000) $ (2,680,000)
Adjustments to reconcile net loss to net cash used in operating activities:    
Amortization of debt discounts   37,000
Stock-based compensation 254,000 75,000
Depreciation and amortization 19,000 14,000
Amortization of intangible asset 0 9,000
Change in fair value of warrant liability 0 (19,000)
Warrant inducement expense 567,000 0
Changes in operating assets and liabilities:    
Accounts receivable (58,000) 57,000
Inventories (588,000) 16,000
Prepaid expenses and other assets (506,000) (37,000)
Accounts payable 467,000 512,000
Accrued liabilities 366,000 196,000
Net cash used in operating activities (2,771,000) (1,820,000)
Cash flows from investing activities:    
Purchases of property and equipment (26,000) (2,000)
Net cash used in investing activities (26,000) (2,000)
Cash flows from financing activities:    
Proceeds from issuance of common stock and warrants, net of issuance costs   725,000
Proceeds from issuance of common stock upon warrant exercises, net of issuance costs 5,095,000  
Proceeds from issuance of convertible notes payable, net of issuance costs 0 1,665,000
Repayment of capital lease (6,000) 0
Repayment of convertible notes payable 0 (111,000)
Net cash provided by financing activities 5,089,000 2,279,000
Net increase in cash and cash equivalents 2,292,000 457,000
Cash and cash equivalents as of beginning of year 7,415,000 298,000
Cash and cash equivalents as of end of year 9,707,000 755,000
Supplemental disclosure of cash flow information:    
Cash paid for interest 1,000 0
Noncash Investing and Financing Activities:    
Issuance of warrants in connection with common stock offerings 0 114,000
Issuance of warrants in connection with convertible notes payable 0 630,000
Convertible preferred stock dividend 20,000 20,000
Issuance of common stock in connection with convertible notes payable 0 4,000
Expenses related to issuance of convertible notes in accounts payable $ 0 $ 269,000

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