Quarterly report pursuant to Section 13 or 15(d)

Condensed Statements of Cash Flow (Unaudited)

v3.20.2
Condensed Statements of Cash Flow (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Cash flows from operating activities:    
Net income (loss) $ (7,222) $ 686
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Fair value of vested stock options 237
Depreciation and amortization 469 459
Increase in inventory reserve 2,400
Deferred tax assets (655)
Amortization of operating lease right-of-use asset 466 391
Changes in operating assets and liabilities    
Accounts receivable (842) 2,689
Inventories 132 (5,671)
Prepaid expenses 930 (819)
Deposits (4)
Income tax receivable (1,484) 484
Accounts payable (255) (210)
Customer deposits 491 149
Accrued expenses and other current liabilities (120) 468
Decrease in lease liability (458) (352)
Net cash used in operating activities (6,152) (1,489)
Cash flows from investing activities:    
Acquisition of property and equipment (311)
Proceeds from sale of property and equipment (3)
Net cash used in investing activities (3) (311)
Cash flows from financing activities:    
Proceeds from PPP Loan 1,715
Advances from line of credit 245
Proceeds from sales of common shares and warrants 2,812
Proceeds from exercise of warrants 861
Repayment of notes (247) (174)
Net cash provided by (used in) financing activities 5,386 (174)
Decrease in cash and cash equivalents (769) (1,974)
Cash and cash equivalents, beginning of period 2,840 5,640
Cash and cash equivalents, end of period 2,071 3,666
Supplemental non-cash investing and financing activities:    
Assets acquired through issuance of notes payable 153
Initial recognition of operating lease right-of-use assets and operating lease obligations upon adoption of ASC Topic 842 2,847
Reclassification of prepaid expenses to property and equipment $ 114