Annual report [Section 13 and 15(d), not S-K Item 405]

Consolidated Statements of Cash Flows

v3.25.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Cash Flow from Operating Activities:    
Net loss $ (168) $ (22,770)
Adjustments to reconcile net loss to net cash used in operating activities:    
Loss of disposal of assets 11
Depreciation and amortization 130 1,678
Amortization of debt issuance costs and discounts 34 193
Gain on extinguishment of debt and accounts payable (6,206)
Intangible asset impairment 8,532
Share-based compensation 833 1,773
Change in fair value of warrant liabilities 236
Bad debt expense 134 11
PIK interest expense on term loan 238 254
Accreted interest expense on term loan 153 291
Income tax provision 9 (2)
Other 60 (7)
Changes in operating assets and liabilities:    
Accounts receivable (1,148) 2,387
Inventories 2,742 3,646
Prepaid expenses and other assets 291 628
Accounts payable (1,155) 3,996
Accrued and other liabilities (304) (760)
Cash Provided by (Used in) Operating Activities (4,357) 97
Cash Flow from Investing Activities:    
Capital expenditures (41) (18)
Notes receivable (2,211)
Cash Used in Investing Activities (2,252) (18)
Cash Flow from Financing Activities:    
Proceeds from equity offering 4,752
Proceeds from revolving lines of credit 1,906
Payments on revolving lines of credit (13,500)
Proceeds from term loan 5,000
Proceeds from Wintrust facility 12,431 7,841
Payments on Wintrust facility (11,757) (6,100)
Share repurchases (206)
Payment of loan issuance costs (244)
Cash (Used in) Provided by Financing Activities 5,220 (5,097)
Net decrease in cash and cash equivalents (1,389) (5,018)
Total cash and cash equivalents, beginning of period 4,455 9,473
Total cash and cash equivalents, end of period 3,066 4,455
Supplemental schedule of cash flow information:    
Cash paid for interest during the period 245 543
Disclosure of non-cash financing activities:    
Reclassification of warrants to equity 2,444
Alphia term loan forgiveness, see Note 9 - Debt 3,235
Forgiveness of PIK interest on Alphia term loan, see Note 9 - Debt 493
Write off of debt issuance costs $ 168