Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.22.1
Consolidated Statements of Cash Flows - USD ($)
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Operating Activities:    
Net loss $ (34,486,000) $ (24,956,000)
Adjustments to reconcile net loss to net cash used in operating activities:    
Share-based compensation 5,668,000 6,119,000
Financing costs 248,000
Amortization of debt discount 2,461,000 493,000
Change in fair value of derivative liability (598,000) (574,000)
Debt extinguishment costs, net (1,112,000)
Depreciation and amortization 1,677,000 1,510,000
Amortization of operating lease right-of-use assets 553,000 545,000
Allowance for inventory (51,000) 49,000
Gain on disposal of property and equipment (5,000)
Allowance for doubtful accounts 300,000 130,000
Effect of changes in assets and liabilities:    
Accounts receivable (763,000) 440,000
Inventory 57,000 20,000
Prepaid expenses and other current assets (102,000) (485,000)
Other assets (224,000)
Accounts payable, accrued expenses, and accrued interest 1,218,000 788,000
Contract liabilities 714,000 (177,000)
Deferred incentive compensation (521,000)
Operating lease liabilities (648,000) (444,000)
Net cash used in operating activities (25,862,000) (16,294,000)
Investing Activities:    
Cash acquired from acquisition of subsidiary 229,000
Proceeds from sale of property and equipment 11,000
Capitalized software development costs (2,248,000)
Purchases of property and equipment (26,000) (317,000)
Net cash used by investing activities (2,263,000) (88,000)
Financing Activities:    
Proceeds from sale of common stock 22,066,000 16,781,000
Proceeds from notes payable 1,367,000
Advances on future receipts 12,778,000 728,000
Proceeds from warrant exercise 2,784,000 2,165,000
Payment of acquisition note payable (1,885,000)
Payment of related party notes payable (100,000)
Payment of advances of future receipts (11,168,000) (1,842,000)
Proceeds from option exercise 802,000
Payment for debt issuance costs (15,000)
Net cash provided by financing activities 27,247,000 17,214,000
Net change in cash (878,000) 832,000
Cash - beginning of period 1,815,000 983,000
Cash - end of period $ 937,000 $ 1,815,000