Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Operating activities:    
Net loss $ (14,185) $ (9,648)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization expense 190 157
Amortization of right of use assets 192 179
Stock-based compensation 724 662
Payments on operating lease liabilities (195) (177)
Change in fair value of derivative liabilities (49) 54
Changes in operating assets and liabilities:    
Accounts receivable 556 88
Prepaid expenses and other current assets (169) (230)
Deposits 4
Accounts payable and accrued expenses 217 (919)
Net cash used in operating activities (12,719) (9,830)
Investing activities:    
Purchases of property and equipment (52) (240)
Net cash used in investing activities (52) (240)
Financing activities:    
Payments of finance lease obligations (39) (121)
Proceeds from sale of common stock, net of transaction costs 38,505 35,783
Net cash provided by financing activities 38,466 35,662
Net increase in cash and restricted cash 25,695 25,592
Cash and restricted cash at beginning of period 33,060 7,468
Cash and restricted cash at end of period 58,755 33,060
SUPPLEMENTAL DISCLOSURE OF NON-CASH FINANCING ACTIVITIES:    
Recognition of finance lease right-of-use asset and liability 77
Recognition of operating lease right-of-use assets and operating lease liabilities $ 171