Annual report pursuant to Section 13 and 15(d)

STATEMENTS OF CASH FLOWS

v3.19.1
STATEMENTS OF CASH FLOWS
$ in Thousands
 12 Months Ended
Dec. 31, 2018
USD ($)
Dec. 31, 2017
USD ($)
Dec. 31, 2016
USD ($)
Cash flows from operating activities:      
Net income (loss) $ (9,023) $ (14,307) $ 5,135
Adjustments to reconcile net income (loss) to net cash used in operating activities:      
Non-cash gain on inventory received from termination of license agreement (1,293) 0 0
Depreciation and amortization 380 417 377
Non-cash interest expense 490 141 0
Non-cash gain on changes in fair value of warrants 0 (619) (825)
Non-cash gain on changes in fair value of derivatives (134) 0 0
Stock-based compensation 1,557 1,687 1,039
Changes in operating assets and liabilities:      
Receivables (1,672) 3,522 626
Inventory 31 0 0
Contract assets 120 0 0
Prepaid expenses and other assets (185) (125) (63)
Accounts payable 542 (2,194) (1,143)
Other accrued liabilities 443 (1,199) 1,147
Deferred revenue 313 0 0
Net cash provided by (used in) operating activities (8,431) (12,677) 6,293
Cash flows from investing activities:      
Purchases of furniture and equipment (416) (175) (171)
Net cash used in investing activities (416) (175) (171)
Cash flows from financing activities:      
Sale of common & preferred stock 9,651 0 0
Issuance of warrants 51 0 0
Proceeds from issuance of common stock from the exercise of stock options 0 0 27
Proceeds from the exercise of warrants 3,268 0 0
Proceeds from the issuance of debt 650 6,729 0
Payments on long-term debt (3,000) 0 0
Net cash provided by financing activities 10,620 6,729 27
Net increase (decrease) in cash 1,773 (6,123) 6,149
Cash, cash equivalents and restricted cash at beginning of period 7,883 14,006 7,857
Cash, cash equivalents and restricted cash at end of period 9,656 7,883 14,006
Supplemental disclosure of cash flow information      
Interest paid 471 298 0
Warrants issued 6,348 287 0
Derivatives issued 159 0 0
Deemed dividend on trigger of down round provision 285 0 0
Purchases of property and equipment in accounts payable 163 0 0
Schedule of non-cash transactions      
Cash and cash equivalents 9,295 7,522 14,006
Restricted cash 361 361 0
Cash, cash equivalents and restricted cash shown in the statement of cash flows $ 9,656 $ 7,883 $ 14,006