Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

v3.21.2
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Cash flows from operating activities:    
Net loss $ (24,547) $ (25,258)
Adjustments required to reconcile net loss to net cash used in operating activities:    
Depreciation 556 38
Liability for minimum royalties 53 29
Stock-based compensation 633 2,334
Expiration of call options to acquire potential acquiree 3,000
Impairment of intangible IPR&D, net of taxes 8,157
Impairment of investment in affiliated company 2,823
Revaluation of investment in affiliated company to fair value (1,623)
Share in losses of affiliated company 1,499
Modification of terms relating to straight loan transaction 88
Modification of terms relating to convertible bridge loans transactions (3,495)
Exchange differences relating to loans from shareholders 40
Issuance of shares as a settlement in excess of the carrying amount of financial liabilities 499
Issuance of ordinary shares and stock warrants upon modification of terms relating to convertible bridge loans transactions 415
Amortization of discounts and accrued interest on convertible bridge loans 18,080 8,393
Amortization of discounts and accrued interest on straight loans 2,290
Change in fair value of derivative warrants liability and fair value of warrants expired (299)
Change in fair value of liability related to conversion feature of convertible bridge loans (3,777)
Increase in trade receivables (1,629) (206)
Increase in inventories (806) (440)
Decrease (increase) in other current assets 704 48
Increase (decrease) in accounts payables (961) 203
Decrease in deferred revenues (857)
Increase (decrease) in other current liabilities (326) 1,376
Net cash used in operating activities (9,299) (3,667)
Cash flows from investing activities:    
Purchase of property and equipment (965) (346)
Restricted cash 5
Purchase of intangible IPR&D (450)
Cash used in purchased of subsidiary consolidated for the first time (1,176)
Investment in other companies (1,024) (560)
Net cash used in investing activities (3,165) (1,351)
Cash flows from financing activities:    
Proceeds from straight loans, net 2,496 812
Repayment of Receivables financing facility (1,249)
Repayment of straight loans (1,329)
Repayment of convertible bridge loans (2,165)
Proceeds from issuance of units consisting of convertible bridge loans, stock warrants and shares, net 13,687 3,087
Proceeds from issuance of units consisting of ordinary shares and stock warrants 30
Proceeds from issuance of ordinary shares through equity line 255 1,296
Net cash provided by financing activities 11,695 5,225
Change in cash, cash equivalents (769) 207
Cash, cash equivalents at beginning of period 935 12
Cash, cash equivalents at end of period 166 219
Supplemental disclosure of non-cash activities:    
Issuance of warrants as part of bridge loan transactions 4,157 948
Partial conversion of convertible bridge loans and liability related to conversion feature of convertible bridge loans into ordinary shares (16,493) (3,943)
Issuance of stock warrants as part of convertible bridge loan received (870)  
Issuance of shares upon acquisition of an IPR&D 6,084
Issuance of shares for receiving an equity line (315)
Issuance of shares or commitment to issue fixed number of shares for receiving convertible bridge loans 482
Issuance of ordinary shares upon modification of terms relating to convertible straight loan transaction 792  
Issuance of shares as settlement of financial liabilities (450)
Investment in affiliated company by issuance shares and commitment for issued shares as contingent consideration and commitment for funding (2,615)
Classification of warrants from liability into equity upon partial conversion of convertible bridge loans into ordinary shares (595)
Conversion of loan from shareholder into ordinary shares $ 40
Cash used in purchased of subsidiary consolidated for the first time:    
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 installment 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 consolidated for the first time $ 1,176