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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Cash Flows - Operating Activities:    
Net loss [1] $ (31,372) $ (25,807)
Adjustments to reconcile net loss to net cash used by operating activities    
Stock-based compensation 1,514 0
Depreciation and amortization 1,145 1,028
Reserve for credit losses 77 781
Shares issued for services 0 224
Gain on extinguishment of debt (6,326) 0
Income tax expense 0 4
Change in fair value of derivative liabilities 31,413 9,621
Amortization of debt issuance and debt discounts 5,520 6,911
Changes in operating assets and liabilities    
Accounts receivable (486) (53)
Inventory (1,198) (2,800)
Prepaid expenses and other assets (79) (206)
Accounts payable (1,422) 1,546
Accrued expenses and contract liabilities 282 (2,093)
Net Cash Provided by (Used in) Operating Activities 2,455 (4,538)
Cash Flows - Investing Activities    
Proceeds from sale of property and equipment 0 21
Purchases of property and equipment (490) 0
Net Cash Flows (Used in) Provided by Investing Activities (490) 21
Cash Flows - Financing Activities    
Proceeds from convertible promissory notes 1,300 3,026
Payments to factoring (1,490) (639)
Proceeds from sale of common stock 10,300 0
Principal payments on finance leases (208) (170)
Net Cash Flows Provided by Financing Activities 6,354 5,211
Effect of Exchange Rates on Cash 121 (50)
Net Change in Cash During Period 8,440 644
Cash at Beginning of Period 1,797 1,153
Cash at End of Period 10,237 1,797
Supplemental Information:    
Cash paid for interest 4,311 1,958
Non-Cash Investing and Financing Activities:    
Write off deferred merger costs 1,225 0
Warrants issued in conjunction with senior secured promissory note payable and convertible promissory notes payable 3,557 1,682
Conversion of warrants to common stock 41,380 0
Conversion of convertible notes payable and accrued interest to common stock 0 23,156
Embedded conversion feature on convertible debt 0 835
Common shares issued for advisory shares 0 302
Capitalize default interest into senior secured debt 3,850 0
Conversion of asset-based secured promissory notes to convertible promissory notes 4,584 0
Conversion of Debt    
Non-Cash Investing and Financing Activities:    
Shares issued for settlement of debt 8,513 0
Nonrelated Party    
Cash Flows - Financing Activities    
Payment of note payable (3,548) 0
Proceeds from asset-backed secured promissory notes payable 0 2,994
Related Party    
Adjustments to reconcile net loss to net cash used by operating activities    
Accrued interest and accrued interest, related parties 3,387 6,306
Cash Flows - Financing Activities    
Payment of note payable (500) 0
Proceeds from asset-backed secured promissory notes payable $ 500 $ 0
[1] Reflects a one-for-three hundred seventy-five (1:375) reverse stock split of the outstanding shares of the Company's common stock effected on October 18, 2024.