Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.23.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Operating activities:    
Net loss $ (9,355,000) $ (28,636,000)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization expense 96,000 90,000
Amortization of right of use assets 108,000 100,000
Loss on impairment of goodwill 19,092,000
Stock-based compensation 470,000 480,000
Payments on operating lease liabilities (115,000) (102,000)
Change in fair value of derivative liabilities (12,000)
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets 183,000 80,000
Tax credit receivable (491,000)
Accounts payable and accrued expenses 445,000 (326,000)
Settlement payable 1,600,000
Net cash used in operating activities (8,659,000) (7,634,000)
Investing activities:    
Purchases of property and equipment (59,000)
Net cash used in investing activities (59,000)
Financing activities:    
Payments on finance lease liabilities (7,000) (13,000)
Proceeds from sale of common stock, net of transaction costs 4,000,000
Net cash provided by (used in) financing activities 3,993,000 (13,000)
Net decrease in cash and restricted cash (4,725,000) (7,647,000)
Cash and restricted cash at beginning of period 37,219,000 58,755,000
Cash and restricted cash at end of period $ 32,494,000 $ 51,108,000