Cash Flow

v3.21.2
Condensed Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2021
Jun. 30, 2021
Jun. 30, 2020
Dec. 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:        
Net loss   $ (12,485) $ (17,822)  
Adjustments to reconcile net loss to net cash used in operating activities:        
Gain on extinguishment of debt (promissory note) $ (2,023) (2,023)    
Depreciation and amortization   881 1,214  
Provision for doubtful accounts     25  
Stock-based compensation   1,865 2,080  
Gain on sale of property and equipment   (493)    
Changes in operating assets and liabilities:        
Accounts receivable   10 287  
Inventories   (108) 33  
Prepaid expenses and other assets   (46) 650  
Accounts payable   368 107  
Accrued expenses   (2,359) 1,295  
Deferred revenue   (134) (556)  
Other liabilities   (175) (156)  
Net cash used in operating activities   (14,699) (12,843) $ (28,300)
CASH FLOWS FROM INVESTING ACTIVITIES:        
Proceeds from maturities of available-for-sale securities     16,000  
Proceeds from sale of property and equipment   534    
Purchases of property and equipment   (76) (49)  
Net cash provided by investing activities   458 15,951  
CASH FLOWS FROM FINANCING ACTIVITIES:        
Proceeds from issuance of common stock and warrants, net of placement agent fees of $351 and $1,008, respectively   11,022 8,992  
Proceeds from issuance of common stock in connection with the exercise of warrants     827  
Proceeds from issuance of common stock in connection with the employee stock purchase plan   26 27  
Proceeds from PPP promissory note     2,000  
Payments on equipment financing   (265) (145)  
Payments of offering costs related to the issuance of common stock and warrants   (228) (13)  
Net cash provided by financing activities   10,555 11,688  
NET CHANGE IN CASH AND CASH EQUIVALENTS   (3,686) 14,796  
CASH AND CASH EQUIVALENTS, beginning of period   23,906 14,584 14,584
CASH AND CASH EQUIVALENTS, end of period 20,220 20,220 29,380 $ 23,906
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES:        
Unpaid offering costs $ 84 84 231  
Transfer from inventories to property and equipment for lasers   3 40  
Unpaid property and equipment   109    
SUPPLEMENTAL CASH FLOW INFORMATION:        
Cash payments for interest   2 $ 16  
Cash payments for taxes   2    
Promissory Note        
Adjustments to reconcile net loss to net cash used in operating activities:        
Gain on extinguishment of debt (promissory note)   $ (2,023)    

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