v3.22.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash flows from operating activities:    
Net loss $ (7,588) $ (17,557)
Adjustments required to reconcile net loss to net cash used in operating activities:    
Depreciation 197 156
Interest on revolving credit line 597
Liability for minimum royalties 54 12
Stock-based compensation 1,568 235
Modification of terms relating to straight loan transaction (6)
Share in losses of affiliated company 66
Direct and incremental issuance costs allocated to conversion feature of convertible bridge loan 169
Change in fair value, amortization of discounts and accrued interest on convertible bridge loans 6,127 15,033
Amortization of discounts and accrued interest on straight loans 164 861
Change in fair value of derivative warrants liability and fair value of warrants expired (201)
Change in fair value of liability related to conversion feature of convertible bridge loans (3,431) (977)
Decrease (increase) in trade receivables 1,035 (41)
Increase in inventories (38) (1,054)
Decrease (increase) in other current assets (294) 670
Increase (decrease) in accounts payable 1,024 (389)
Decrease in deferred revenues (844)
Increase (decrease) in other current liabilities (678) 687
Net cash used in operating activities (1,263) (3,180)
Cash flows from investing activities:    
Purchase of property and equipment (244) (658)
Investment in other companies (231)
Net cash used in investing activities (244) (889)
Cash flows from financing activities:    
Proceeds from straight loans, net 725 1,677
Proceeds (repayment) of Receivables financing facility 879 (1,056)
Repayment of straight loans (189) (941)
Repayment of convertible bridge loans (677)
Proceeds from issuance of units consisting of convertible bridge loans, stock warrants and shares, net 4,012
Repayments of right of use asset arising from operating leases (23)
Proceeds from issuance of ordinary shares through equity line 255
Net cash provided by financing activities 1,392 3,270
Change in cash, cash equivalents (115) (799)
Cash, cash equivalents at beginning of period 189 935
Cash, cash equivalents at end of period 74 136
Supplemental disclosure of non-cash activities:    
Purchasing of property and equipment included in accounts payable 95
Issuance of ordinary shares as collateral for loan repayment 870
Partial conversion of convertible bridge loans and liability related to conversion feature of convertible bridge loans into ordinary shares 5,070 6,870
Issuance of stock warrants as part of convertible bridge loan received 792
Issuance of ordinary shares upon modification of terms relating to convertible straight loan transaction $ 88

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