XML 24 R6.htm IDEA: XBRL DOCUMENT v3.7.0.1
Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Operating activities:    
Net loss $ (10,310,000) $ (6,697,000)
Adjustments to reconcile net loss to net cash used in operating activities:    
Write-off of inventory 597,000
Depreciation and amortization 39,000 47,000
Change in fair value of convertible preferred stock warrant liability (250,000) (274,000)
Change in fair value of maturity date preferred stock warrant liability (10,000) (87,000)
Change in fair value of convertible shareholder notes derivative liability 1,224,000 (1,373,000)
Share-based compensation 942,000 283,000
Non-cash interest expense on convertible shareholder notes 1,736,000 1,387,000
Changes in operating assets and liabilities:    
Accounts receivable 33,000 65,000
Inventory 27,000 (82,000)
Prepaid expenses and other current assets (110,000) (129,000)
Deferred financing costs 48,000
Other assets (11,000)
Accounts payable (17,000) 228,000
Accrued liabilities excluding accrued interest on convertible note 226,000 (416,000)
Deferred revenue 32,000
Deferred rent 26,000 (23,000)
Grant liability 304,000
Net cash used in operating activities (5,522,000) (7,023,000)
Investing activities:    
Purchase of property and equipment (125,000)
Cash acquired in reverse merger 19,017,000
Payment of transaction costs of reverse merger (96,000)
Net cash provided by (used in) investing activities 18,921,000 (125,000)
Financing activities:    
Proceeds from the exercise of convertible preferred stock warrants 27,000
Proceeds from issuance of convertible notes and warrants 4,374,000 7,435,000
Proceeds from the exercise of stock options 22,000 59,000
Net cash provided by financing activities 4,396,000 7,521,000
Net increase in cash and cash equivalents 17,795,000 373,000
Cash and cash equivalents at beginning of year 3,557,000 3,184,000
Cash and cash equivalents at end of year 21,352,000 3,557,000
Supplemental disclosure for noncash investing and financing activities:    
Exchange of convertible preferred stock warrants for common stock 25,000
Conversion of convertible shareholder notes and related interest payable 12,156,000 7,781,000
Reclassification of convertible shareholder notes derivative liability 2,268,000
Conversion of preferred stock $ 46,030,000