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Condensed Consolidated Statements of Cash Flows - USD ($)
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Operating activities    
Net loss $ (5,054,772) $ (6,497,519)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 86,104 185,492
Accretion of interest on NuvoGen obligation (2,747) (2,983)
Write off deferred offering costs 80,692 0
Provision for excess inventory 409,670 59,353
Amortization of SVB Term Loan discount and issuance costs 71,832 117,727
Stock-based compensation expense 129,332 251,214
Employee stock purchase plan expense 7,776 16,591
Non-cash operating lease expense 114,517 100,316
Accrued interest on available-for-sale securities investments (27,183) (5,128)
Changes in operating assets and liabilities:    
Accounts receivable 289,715 1,343,246
Inventory 5,511 (120,164)
Prepaid expenses and other 278,042 93,299
Accounts payable (25,921) (352,934)
Accrued liabilities (571,519) (1,069,543)
Contract liabilities (38,394) 40,279
Operating lease liabilities (116,246) (98,809)
Net cash used in operating activities (4,363,591) (5,939,563)
Investing activities    
Purchase of property and equipment (6,238) (8,415)
Maturities of available-for-sale securities 0 5,400,000
Purchase of available-for-sale securities (3,538,390) 0
Net cash (used in) provided by investing activities (3,544,628) 5,391,585
Financing activities    
Proceeds from March 2022 Securities Purchase Agreement, net of issuance costs of $0.4 million 0 7,207,499
Payments on SVB Term Loan (808,824) (1,250,000)
Payments of December 2022 Securities Purchase Agreement issuance costs (350,523) 0
Payments on NuvoGen obligation (146,032) (172,624)
Payments of deferred offering costs 0 (38,500)
Payments on financing leases (3,866) (4,635)
Taxes paid for net share settlement of restricted stock awards (215) (8,129)
Cash in lieu of fractional shares related to reverse stock split (640) 0
Payments on 2021 insurance note 0 (167,586)
Net cash (used in) provided by financing activities (1,310,100) 5,566,025
Effect of exchange rates on cash 3,871 (3,570)
(Decrease) increase in cash and cash equivalents (9,214,448) 5,014,477
Cash and cash equivalents at beginning of period 12,210,857 9,599,950
Cash and cash equivalents at end of period 2,996,409 14,614,427
Supplemental disclosure of noncash investing and financing activities    
Net reclassification of instruments from inventory to property and equipment, net 16,625 0
Deferred financing costs payable and accrued at period end 0 98,713
Issuance costs payable at period end 447  
Disposal of fully depreciated assets 177,451 0
Issuance of common stock upon conversion of Series A convertible preferred stock 0 1,402,430
Supplemental cash flow information    
Cash paid for interest 74,976 139,846
Cash paid for taxes $ 1,838 $ 0