v3.25.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Cash flows from operating activities    
Net loss $ (4,998) $ (6,270)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 61 34
Interest expense and amortization of debt discount on term loans payable (related party) 495
Amortization of prepaid insurance 247 270
Stock-based compensation 160 123
Change in fair value of publicly traded warrant liability (194) 1,177
Change in fair value of forward purchase agreement warrant liability (421) 262
Change in fair value of forward purchase agreement put option liability (103)
Change in operating lease right-of-use asset (related party) 26 31
Change in inventory reserve (23) 89
Changes in operating assets and liabilities:    
Accounts receivable, net (4) (119)
Other receivable 757 144
Inventories 74 (140)
Prepaid expenses and other current assets (75) (56)
Accounts payable 10 (641)
Operating lease liability (related party) (22) (27)
Accrued expenses 199 (357)
Product warranty liability (17) (6)
Other liability
Net cash used in operating activities (3,725) (5,589)
Cash flows from investing activities    
Purchases of property and equipment (6)
Deposits on equipment not yet placed in service (109)
Net cash used in investing activities (6) (109)
Cash flows from financing activities    
Payments on insurance financing loans (233) (257)
Proceeds from the issuance of term loans (related party) 5,000 5,000
Dividends paid to stockholders of Series A Preferred Stock (1,213)
Proceeds from the sale of Common Stock associated with forward purchase agreement, net of transaction costs 1,683
Net cash provided by financing activities 3,554 6,426
Effect of exchange rate changes on cash 6 (1)
Net (decrease) increase in cash (171) 727
Cash, beginning of period 5,483 4,218
Cash, end of period 5,312 4,945
Supplemental disclosures of cash flow information:    
Cash paid for interest 13 14
Non-cash investing and financing activities:    
Accrued and unpaid dividends on Series A Preferred Stock 25 1,365
Financing of prepaid insurance 75 65
Warrants issued with term loans (related party) $ 688

Source

10-Q XBRL Zip