Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.8.0.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Cash flows from operating activities:    
Net loss $ 8,714,000 $ 1,195,000
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 72,000 18,000
Stock-based compensation expense 643,000 26,000
Amortization of debt discount and accretion related to long-term liabilities 63,000 38,000
Change in common stock warrant fair value (615,000) 2,000
Accretion of asset retirement obligations 8,000 0
Loss on extinguishment of debt 115,000 0
Loss on disposal of equipment 2,000 0
Changes in operating assets and liabilities:    
Prepaid expenses (58,000) 8,000
Accounts receivable from related party (4,000,000) (750,000)
Other current assets (71,000) 0
Accounts payable (355,000) (139,000)
Accrued liabilities 110,000 473,000
Other current liabilities 34,000 0
Other liabilities 198,000 0
Deferred revenue 3,585,000 (1,135,000)
Net cash used in operating activities (8,983,000) (2,654,000)
Cash flows from investing activities:    
Purchases of property and equipment (1,719,000) (8,000)
Increase in other assets 0 (188,000)
Net cash used in investing activities (1,719,000) (196,000)
Cash flows from financing activities:    
Payments of capital lease obligations (13,000) (11,000)
Proceeds from issuance of long-term debt and warrants, net 4,537,000 0
Repayment of long-term debt (3,605,000) (600,000)
Proceeds from issuance of related party debt 0 2,685,000
Proceeds from stock option exercise 148,000 0
Proceeds from promissory note 0 2,000,000
Net cash provided by financing activities 1,067,000 4,074,000
Net increase (decrease) in cash and cash equivalents (9,635,000) 1,224,000
Cash and cash equivalents, beginning of period 58,910,000 1,716,000
Cash and cash equivalents, end of period 49,275,000 2,940,000
Supplemental Cash Flow Information    
Cash paid for interest 51,000 68,000
Non-Cash Investing and Financing Activities    
Deemed dividends on preferred stock $ 0 $ 428,000