Annual report pursuant to Section 13 and 15(d)

Statements of Cash Flows

v3.22.4
Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Cash Flows From Operating Activities    
Net loss $ (12,962) $ (4,428)
Adjustments to reconcile net loss to net cash used in operating activities    
Accretion expense, convertible notes 0 1,886
Non-cash interest expense 0 278
Stock-based compensation expense 1,120 192
PPP loan forgiveness 0 (22)
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets 361 (779)
Accounts payable, accrued expenses and other current liabilities 1,533 (357)
Net cash used in operating activities (9,948) (3,230)
Cash Flows From Financing Activities    
Proceeds from sale of equity 348 14,713
Proceeds from exercise of stock options 2 0
Proceeds from issuance of convertible notes 0 1,715
Repayment and interest paid on short-term loans 0 (30)
Net cash provided by financing activities 350 16,398
Net (decrease) increase in cash (9,598) 13,168
Cash and Cash Equivalents – Beginning of the year 13,192 24
Cash and Cash Equivalents – End of the year 3,594 13,192
Supplemental Disclosures of Cash Flow Information:    
Taxes paid 0 0
Interest paid 0 0
Supplemental Disclosures of Non-cash Flow Information:    
Issuance of common stock and warrants to settle accrued expenses 456 0
Conversion of debt to equity 0 6,288
Debt discount 0 1,886
Common stock and awards accrued but not issued $ 0 $ 456