Quarterly report pursuant to Section 13 or 15(d)

Unaudited Condensed Consolidated Statements of Cash Flows

v3.19.3
Unaudited Condensed Consolidated Statements of Cash Flows - USD ($)
 6 Months Ended 12 Months Ended
May 06, 2019
Jun. 30, 2019
Jun. 30, 2018
Dec. 31, 2018
Cash Flow from Operating Activities        
Net loss   $ (164,286,000) $ (2,400,000)  
Adjustments to reconcile net loss to net cash used in operating activities:        
Depreciation and amortization   45,000 7,000  
Stock-based compensation expense   4,212,000 0  
Non-cash lease expense   2,000 0  
Change in fair value of derivative liability   193,000 0  
Loss on acquisition   149,988,000 0  
Other   (4,000) 0  
(Increase) decrease in operating assets        
Accounts receivable   (27,000) (50,000)  
Inventories   42,000 (296,000)  
Prepaid expenses and other assets   (466,000) 48,000  
Change in operating lease right of use asset   (457,000) 0  
(Decrease) increase in current liabilities        
Accounts payable   (32,000) 530,000  
Accrued liabilities   1,600,000 76,000  
Deferred revenue   252,000 68,000  
Deferred rent   0 (9,000)  
Change in lease liability   457,000 0  
Cash Used in Operating Activities   (8,481,000) (2,026,000)  
Cash Provided by (Used in) Investing Activities        
Cash spent for Acquisition of fixed assets (Office Furniture)   (4,000) (31,000)  
Cash acquired in merger   1,955,000 0  
Security deposits paid   (81,000) 0  
Cash Provided by (Used in) Investing Activities   1,870,000 (31,000)  
Cash Provided by Financing Activities        
Repayment of advance   (1,899,000) 0  
Proceeds from private placement of Series A Preferred Units   150,000 0  
Proceeds from private issuance of public equity   15,676,000 0  
Payment of old debt   (6,200,000) 0  
Proceeds from the issuance of debt   6,200,000 2,013,000  
Cash Provided by Financing Activities   13,927,000 2,013,000  
Net Changes in Cash, Cash Equivalents and Restricted Cash   7,316,000 (44,000)  
Total Cash, Cash Equivalents and Restricted Cash, Beginning of Period   3,946,000 157,000 $ 157,000
Total Cash, Cash Equivalents and Restricted Cash, End of Period   11,262,000 113,000 3,946,000
Current Assets        
Accounts receivable, net $ 30,000      
Inventories, net 193,000      
Prepaid expenses and other current assets 399,000      
Total Current Assets 622,000      
Intangible Assets 986,000      
Other assets 74,000      
Total Assets 1,682,000      
Current Liabilities        
Accounts payable (1,814,000)      
Accrued liabilities (325,000)      
Total Current Liabilities (2,139,000)      
Warrant derivative liability (2,111,000)      
Total Liabilities (4,250,000)      
Redeemable Series E Preferred Stock $ 20,059,000      
Right of Use asset recorded upon adoption of ASC 842       477,000
Lease liability recorded upon adoption of ASC 842       $ (489,000)
Income taxes paid   0 0  
Cash interest paid   $ 123,000 $ 66,000