Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

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Consolidated Statements of Cash Flows - USD ($)
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Operating activities:    
Net loss $ (38,837,000) $ (14,185,000)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization expense 185,000 190,000
Right of use assets 203,000 192,000
Loss on impairment of goodwill 19,092,000
Stock-based compensation 855,000 724,000
Change in operating lease liabilities (209,000) (195,000)
Change in fair value of derivative liabilities (12,000) (49,000)
Changes in operating assets and liabilities:    
Accounts receivable 556,000
Tax credit receivable (716,000)
Prepaid expenses and other current assets (1,675,000) (169,000)
Accounts payable and accrued expenses (321,000) (217,000)
Net cash used in operating activities (21,435,000) (12,719,000)
Investing activities:    
Purchases of property and equipment (74,000) (52,000)
Net cash used in investing activities (74,000) (52,000)
Financing activities:    
Payments of finance lease obligations (27,000) (39,000)
Proceeds from sale of common stock, net of transaction costs 38,505,000
Net cash provided by (used in) financing activities (27,000) 38,466,000
Net increase (decrease) in cash and restricted cash (21,536,000) 25,695,000
Cash and restricted cash at beginning of period 58,755,000 33,060,000
Cash and restricted cash at end of period 37,219,000 58,755,000
SUPPLEMENTAL DISCLOSURE OF NON-CASH FINANCING ACTIVITIES:    
Recognition of operating lease right-of-use assets and operating lease liabilities $ 171,000