v3.21.2
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2021
Mar. 31, 2021
Jun. 30, 2020
Mar. 31, 2020
Jun. 30, 2021
Jun. 30, 2020
Dec. 31, 2020
Cash flows from operating activities:              
Net loss $ 3,390 $ (17,557) $ (2,585) $ (4,638) $ (14,167) $ (7,223)  
Adjustments required to reconcile net loss to net cash used in operating activities:              
Depreciation         356 13  
Liability for minimum royalties         24 19  
Stock-based compensation         399 1,818  
Expiration of call options to acquire potential acquiree         2,000  
Share in losses of affiliated company         492  
Modification of terms relating to straight loan transaction         88  
Modification of terms relating to convertible bridge loans transactions         3,839  
Exchange differences relating to loans from shareholders         83  
Issuance of shares as a settlement in excess of the carrying amount of financial liabilities         499  
Amortization of discounts and accrued interest on convertible bridge loans         13,648 (2,503)  
Amortization of discounts and accrued interest on straight loans         653 80  
Change in fair value of derivative warrants liability and fair value of warrants expired         (294)  
Change in fair value of liability related to conversion feature of convertible bridge loans         (4,307) (120)  
Increase in trade receivables         (1,168)  
Increase in inventories         (1,348) (164)  
Decrease (increase) in other current assets         712 (45)  
Increase (decrease) in accounts payables         (481) 131  
Decrease in deferred revenues         (857)  
Increase in other current liabilities         260 78  
Net cash used in operating activities         (5,990) (1,495)  
Cash flows from investing activities:              
Purchase of property and equipment         (770) (25)  
Restricted cash         5  
Cash used in purchased of subsidiary         (1,176)  
Investment in other companies         (635) (4)  
Net cash used in investing activities         (2,581) (24)  
Cash flows from financing activities:              
Proceeds from straight loans, net         1,850 147  
Repayment of Receivables financing facility         (1,249)  
Repayment of straight loans         (1,058)  
Repayment of convertible bridge loans         (2,166)  
Proceeds from issuance of units consisting of convertible bridge loans, stock warrants and shares, net         10,312 1,562  
Proceeds from issuance of units consisting of ordinary shares and stock warrants         30  
Proceeds from issuance of ordinary shares through equity line         255  
Net cash provided by financing activities         7,944 1,739  
Change in cash, cash equivalents         (627) 220  
Cash, cash equivalents at beginning of period   $ 935   $ 12 935 12 $ 12
Cash, cash equivalents at end of period $ 308   $ 232   308 232 $ 935
Supplemental disclosure of non-cash activities:              
Issuance of warrants as part of bridge loan transactions         3,430 633  
Partial conversion of convertible bridge loans and liability related to conversion feature of convertible bridge loans into ordinary shares         (8,646) (2,488)  
Issuance of stock warrants as part of convertible bridge loan received         (870)  
Issuance of ordinary shares upon modification of terms relating to convertible straight loan transaction         792  
Issuance of shares as settlement of financial liabilities         (450)  
Classification of warrants from liability into equity upon partial conversion of convertible bridge loans into ordinary shares         (526)  
Conversion of loan from shareholder into ordinary shares         $ 39  
Cash used in purchased of subsidiary:              
Working capital (excluding cash and cash equivalents)         (18)    
Fixed assets         (183)    
Long term assets         3    
Net assets acquired         168    
Goodwill acquired         7,761    
Intangible assets acquired         1,500    
Second cash instalment payable         (1,250)    
Consideration in convertible promissory note         (4,989)    
Consideration in Shares         (1,699)    
Deferred tax liability         (315)    
Net cash used in purchase of subsidiary         $ 1,176    

Source