XML 37 R5.htm IDEA: XBRL DOCUMENT v3.25.3
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Operating activities:    
Net loss $ (8,207) $ (13,037)
Adjustments to reconcile net loss to cash used in operating activities:    
Depreciation expense 4 4
Amortization of debt discounts and issuance costs 0 2,104
Stock-based compensation expense 148 388
Change in fair value of warrant liability (3) (182)
Change in operating lease right-of-use assets   53
Change in operating lease right of use assets (105)  
Change in operating assets and liabilities:    
Prepaid expenses and other current assets 313 (547)
Accounts payable (387) 2,159
Accrued expenses (479) 125
Operating lease liabilities 105 (57)
Cash used in operating activities (8,611) (8,990)
Investing activities:    
Purchase of property and equipment 0 (8)
Cash used in investing activities 0 (8)
Financing activities:    
Advances from employees 0 190
Repayment of advances from employees 0 (195)
Proceeds from issuance of bridge promissory note 0 1,250
Proceeds from warrant exercise 762 12
Payment for fractional shares in connection with reverse stock split (1) 0
Cash acquired in reverse recapitalization 0 941
Payment of reverse recapitalization costs 0 (2,984)
Payment of stock issuance costs (2,033) (517)
Payment of debt issuance costs 0 (150)
Cash provided by financing activities 11,831 10,797
Net increase in cash and cash equivalents 3,220 1,799
Cash and cash equivalents at beginning of period 1,808 9
Cash and cash equivalents at end of period 5,028 1,808
Supplemental disclosure of non-cash financing activities:    
Issuance of stock for repayment of bridge loan 0 3,333
Recognition of debt discount and additional paid-in-capital for warrants issued in connection with promissory notes 0 532
Net liabilities acquired in connection with reverse recapitalization 0 3,881
Deferred stock issuance costs in accounts payable and accrued expenses 0 226
Issuance of stock for payment of reverse recapitalization costs 0 1,875
Issuance of warrants for payment of stock issuance costs 287 18
Through Financing    
Financing activities:    
Proceeds from issuance of common stock in financing transaction / under ATM facility 9,499 12,250
ATM    
Financing activities:    
Proceeds from issuance of common stock in financing transaction / under ATM facility $ 3,604 $ 0