Quarterly report pursuant to Section 13 or 15(d)

Statements of Cash Flows (Unaudited)

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Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash Flows From Operating Activities    
Net loss $ (5,671) $ (1,155)
Adjustments to reconcile net loss to net cash used in operating activities    
Accretion expense, convertible notes 0 531
Non-cash interest expense 0 147
Stock-based compensation expense 423 32
PPP loan forgiveness 0 (22)
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets 342 (29)
Accounts payable and accrued expenses 638 72
Net cash used in operating activities (4,268) (424)
Cash Flows From Financing Activities    
Proceeds from sale of equity 348 0
Proceeds from exercise of stock options 2 0
Proceeds from issuance of convertible notes 0 865
Net cash provided by financing activities 350 865
Net (decrease) increase in cash (3,918) 441
Cash and Cash Equivalents – Beginning of period 13,192 24
Cash and Cash Equivalents – Ending of period 9,274 465
Supplemental Disclosures of Cash Flow Information:    
Taxes paid 0 0
Supplemental Disclosures of Non-cash Financing Activities:    
Issuance of common stock and warrants to settle accrued expenses 456 0
Conversion of short-term notes to convertible notes $ 0 $ 1,644