Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

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Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Cash Flows from Operating Activities:    
Net loss $ (14,268,000) $ (10,116,000)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation 416,000 350,000
Subsidiary stock issuances to vendor 0 178,000
Depreciation 87,000 201,000
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets 174,000 (326,000)
Right of use asset 166,000 141,000
Accounts payable (363,000) (1,429,000)
Accrued expenses 1,004,000 (851,000)
Accrued employee benefits 110,000 (67,000)
Lease liability (216,000) (249,000)
Net Cash Used in Operating Activities (12,890,000) (12,168,000)
Cash Flows from Investing Activities    
Purchases of property and equipment (14,000) (9,000)
Net Cash Used in Investing Activities (14,000) (9,000)
Cash Flows from Financing Activities    
Proceeds from "at the market" stock issuance 65,960,000 3,359,000
Proceeds from issuance of common stock for warrant exercises 8,042,000 0
Net Cash Provided by Financing Activities 74,002,000 3,359,000
Net increase (decrease) in cash and cash equivalents 61,098,000 (8,818,000)
Cash and cash equivalents at beginning of year 6,227,000 15,045,000
Cash and cash equivalents at end of year 67,325,000 6,227,000
NONCASH FINANCING ACTIVITIES:    
Preferred stock price adjustment 7,402,000 0
Return of SYN Biomics Stock 2,774,000 0
Deemed dividends for accretion of Series B Preferred Stock discount 1,496,000 1,380,000
Right of use assets from operating lease 1,270,000 0
In-kind dividends paid in preferred stock 24,000 254,000
Effect of Warrant exercise price adjustment 0 880,000
Series A Preferred Stock [Member]    
NONCASH FINANCING ACTIVITIES:    
Conversion of Stock 12,822,000 0
Preferred stock price adjustment 7,402,000 0
Effect of Warrant exercise price adjustment   1,000,000.0
Series B Preferred Stock [Member]    
NONCASH FINANCING ACTIVITIES:    
Conversion of Stock 2,477,000 2,284,000
Series B Preferred Stock [Member] | Preferred Stock [Member]    
Cash Flows from Operating Activities:    
Net loss $ 0 $ 0