Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows

v3.21.1
Consolidated Statements of Cash Flows - USD ($)
 3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Operating Activities    
Net loss $ (13,765,000) $ (10,186,000)
Adjustments to reconcile to net cash used in operating activities:    
Depreciation and amortization 795,000 352,000
Loss on remeasurement of warrant liability 4,851,000 0
Foreign exchange loss 759,000 61,000
Share-based compensation expense 1,550,000 416,000
Goodwill impairment 0 1,682,000
Non-cash interest expense, net 430,000 836,000
Loss on investments 0 161,000
Loss on equity method investment, net 11,000 11,000
Loss on derivative instruments 0 13,000
Changes in operating assets and liabilities:    
Increase in accounts receivable (61,000) (51,000)
(Increase) decrease in prepaid expenses (160,000) 777,000
(Increase) decrease in other receivable (253,000) 225,000
Increase in inventory (1,365,000) (1,117,000)
(Decrease) increase in accounts payable and other current liabilities (2,417,000) 461,000
Decrease in other non-current liabilities and other items (1,002,000) (862,000)
Net cash used in operating activities (10,627,000) (7,221,000)
Investing Activities    
Purchase of property, plant and equipment (2,216,000) (1,655,000)
Net cash used in investing activities (2,216,000) (1,655,000)
Financing Activities    
Proceeds from issuance of long term debt, net of issuance costs 0 16,966,000
Other borrowings 1,223,000 0
Proceeds from exercise of warrants 1,410,000 0
Net cash provided by financing activities 2,633,000 16,966,000
Effect of exchange rate changes on cash, cash equivalents & restricted cash (75,000) (13,000)
Decrease in cash, cash equivalents & restricted cash [1] (10,285,000) 8,077,000
Cash, cash equivalents & restricted cash, beginning of period [1] 79,460,000 13,198,000
Cash, cash equivalents & restricted cash, end of period [1] 69,175,000 21,275,000
Supplemental schedule of cash flow information:    
Cash paid for interest 548,000 0
Cash paid for income taxes, net of refunds $ 0 $ 0
[1] These amounts include restricted cash of $451 and $18,100 as of March 31, 2021 and March 31, 2020, respectively. The March 31, 2021 restricted cash is comprised primarily of cash on deposit for certain lease arrangements. March 31, 2020 balance represents amounts on deposit from investors pending closing of the tranche 1 of the Series E financing round, as well as cash on deposit for certain lease arrangements.