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
 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Cash Flows From Operating Activities    
Net loss $ (2,343) $ (737)
Adjustments to reconcile net loss to net cash used in operating activities    
Accretion expense, convertible notes 1,187 0
Non-cash interest expense 233 152
Stock-based compensation expense 85 4
Amortization of debt issuance cost 0 28
PPP loan forgiveness (22) 0
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets (139) 0
Accounts payable and accrued expenses 210 148
Net cash used in operating activities (789) (405)
Cash Flows From Financing Activities    
Proceeds from issuance of convertible notes, net of financing fees 1,560 630
Proceeds from PPP & EIDL Loans 0 22
Repayment and interest paid on short-term loans 0 (16)
Net cash provided by financing activities 1,560 636
Net increase in cash 771 231
Cash – Beginning of period 24 5
Cash – Ending of period 795 236
Supplemental Disclosures of Cash Flow Information:    
Taxes paid 0 0
Interest paid 0 1
Conversion of short-term notes to convertible notes 0 22
Debt Discount $ 1,856 $ 0