Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.8.0.1
Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Cash flows from operating activities:    
Net loss $ (23,140,000) $ (11,028,000)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 155,000 65,000
Stock-based compensation expense 1,792,000 109,000
Amortization of debt discount and accretion related to long term liabilities 342,000 13,000
Change in common stock warrant fair value (128,000) (3,000)
Loss on conversion of notes 4,619,000 0
Loss on disposal of equipment 2,000 5,000
Changes in operating assets and liabilities:    
Prepaid expenses (410,000) 0
Other current assets (12,000) 84,000
Other assets (81,000) 0
Accounts payable 1,209,000 557,000
Accrued liabilities 155,000 800,000
Other current liabilities 20,000 0
Other liabilities 318,000 0
Deferred revenue 895,000 370,000
Net cash used in operating activities (14,264,000) (9,028,000)
Cash flows from investing activities:    
Cash received from merger transaction 11,216,000 0
Purchases of property and equipment (1,101,000) (101,000)
Increase in other assets (400,000) (588,000)
Net cash provided by (used in) investing activities 9,715,000 (689,000)
Cash flows from financing activities:    
Payments of capital lease obligations (43,000) (44,000)
Proceeds from issuance of long-term debt 0 3,000,000
Repayment of long-term debt (2,400,000) (400,000)
Retirement of stock warrants (208,000) 0
Proceeds from issuance of related party debt 2,685,000 4,630,000
Proceeds from stock option exercise 61,000 2,000
Proceeds from promissory note 4,000,000 0
Proceeds from issuance of common stock and warrants, net of offering expenses 57,648,000 0
Net cash provided by financing activities 61,743,000 7,188,000
Net increase in cash and cash equivalents 57,194,000 (2,529,000)
Cash and cash equivalents, beginning of period 1,716,000 4,245,000
Cash and cash equivalents, end of period 58,910,000 1,716,000
Supplemental Cash Flow Information    
Cash paid for interest 250,000 230,000
Non-Cash Investing and Financing Activities    
Deemed dividends on preferred stock 958,000 1,573,000
Conversion of preferred stock 26,829,000 0
Conversion of related party debt 10,486,000 0
Conversion of warrant liability 87,000 0
Capital lease additions to fixed assets 291,000 110,000
Fixed asset additions in accounts payable 382,000 20,000
Warrants issued with debt $ 0 $ 18,000