Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

v3.21.2
Condensed Consolidated Statements of Cash Flows - USD ($)
 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Operating Activities    
Net loss $ (22,721,000) $ (18,939,000)
Adjustments to reconcile to net cash used in operating activities:    
Depreciation and amortization 1,377,000 717,000
Loss on remeasurement of warrant liability 3,675,000 0
Foreign exchange loss 839,000 330,000
Share-based compensation expense 4,873,000 713,000
Goodwill impairment 0 1,682,000
Other non cash expense (income), net (538,000) 1,527,000
Loss on investments 0 244,000
Loss on equity method investment, net 25,000 0
Changes in operating assets and liabilities:    
Decrease in accounts receivable 56,000 43,000
(Increase) decrease in prepaid expenses (616,000) 2,573,000
(Increase) decrease in other receivable (543,000) 237,000
Increase in inventory (2,958,000) (2,238,000)
(Decrease) in accounts payable and other current liabilities (2,990,000) (131,000)
Decrease in other non-current liabilities and other items 25,000 (1,301,000)
Net cash used in operating activities (19,496,000) (14,543,000)
Investing Activities    
Purchase of property, plant and equipment (4,319,000) (3,436,000)
Net cash used in investing activities (4,319,000) (3,436,000)
Financing Activities    
Proceeds from issuance of shares, net of issuance costs 0 14,021,000
Proceeds from issuance of long term debt, net of issuance costs 0 2,645,000
Other borrowings 1,223,000 992,000
Purchase and cancellation of shares 0 (6,250,000)
Proceeds from exercise of warrants 1,410,000 0
Repayment of debt (1,107,000) (429,000)
Stock option exercise 10,000 0
Net cash provided by financing activities 1,536,000 10,979,000
Effect of exchange rate changes on cash, cash equivalents & restricted cash (106,000) (29,000)
(Decrease) increase in cash, cash equivalents & restricted cash [1] (22,385,000) (7,029,000)
Cash, cash equivalents & restricted cash, beginning of period [1] 79,460,000 13,198,000
Cash, cash equivalents & restricted cash, end of period [1] $ 57,075,000 $ 6,169,000
[1] These amounts include restricted cash of $454 and $2,954 as of June 30, 2021 and June 30, 2020, respectively. The June 30, 2021 restricted cash is comprised primarily of cash on deposit for certain lease arrangements. June 30, 2020 balance represents amounts on deposit from investors related to the tranche 1 of the Series E financing round, as well as cash on deposit for certain lease arrangements.