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Condensed Consolidated Statements of Cash Flows - USD ($)
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Operating activities    
Net loss $ (6,497,519) $ (4,848,307)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 185,492 197,951
Accretion of discount on NuvoGen obligation (2,983) (3,106)
Provision for excess inventory 59,353 4,836
Amortization of SVB Term Loan discount and issuance costs 117,727 123,010
Stock-based compensation expense 251,214 337,824
Employee stock purchase plan expense 16,591 13,115
Non-cash operating lease expense 100,316 151,831
Accrued interest on available-for-sale securities investments (5,128) (3,600)
Loss on abandonment and disposal of assets, net   178,925
Changes in operating assets and liabilities:    
Accounts receivable 1,343,246 56,997
Inventory (120,164) (115,584)
Prepaid expenses and other 93,299 (401,597)
Accounts payable (352,934) 145,309
Accrued liabilities (1,069,543) (336,973)
Contract liabilities 40,279 302,357
Operating lease liabilities (98,809) (156,249)
Net cash used in operating activities (5,939,563) (4,353,261)
Investing activities    
Purchase of property and equipment (8,415) (98,509)
Maturities of available-for-sale securities 5,400,000 6,300,000
Purchase of available-for-sale securities   (8,986,169)
Net cash (used in) provided by investing activities 5,391,585 (2,784,678)
Financing activities    
Proceeds from ATM Offering, net of commissions of $0.2 million   6,855,198
Proceeds from March 2022 Purchase Agreement, net of $0.4 million of issuance costs 7,207,499  
Payments on NuvoGen obligation (172,624) (154,777)
Payments on SVB Term Loan (1,250,000)  
Payments on deferred offering costs (38,500)  
Payments on financing leases (4,635) (6,905)
Proceeds from exercise of stock options   326
Taxes paid for net share settlement of restricted stock awards (8,129) (1,197)
Payments on insurance notes (167,586) (165,099)
Net cash provided by financing activities 5,566,025 6,527,546
Effect of exchange rates on cash (3,570) (9,732)
Increase (decrease) in cash and cash equivalents 5,014,477 (620,125)
Cash and cash equivalents at beginning of period 9,599,950 22,397,812
Cash and cash equivalents at end of period 14,614,427 21,777,687
Supplemental disclosure of noncash investing and financing activities    
Fixed asset purchases payable and accrued at period end   10,738
Issuance of common stock upon conversion of Series A convertible preferred stock 1,402,430  
Deferred financing costs payable and accrued at period end 98,713  
Supplemental cash flow information    
Cash paid for interest $ 139,846 146,161
Cash paid for taxes   $ 90