Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.20.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
CASH FLOWS FROM OPERATING ACTIVITIES    
Net Loss $ (8,005,000) $ (7,137,000)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 258,000 253,000
Stock-based compensation 1,379,000 1,354,000
Non-cash loss on disposal of assets 0 1,000
Non-cash investment income 0 (17,000)
Non-cash patent write-off 0 16,000
Right-of-use asset amortization 147,000 55,000
Changes in assets and liabilities:    
Accounts receivable 73,000 116,000
Prepaid expenses and other current assets (156,000) (45,000)
Other assets 0 1,000
Accounts payable 51,000 69,000
Accrued expenses (256,000) 11,000
Accrued salaries and payroll related expenses (308,000) (696,000)
Deferred revenue (262,000) (67,000)
Operating lease liabilities (148,000) (11,000)
Net cash used in operating activities (7,227,000) (6,097,000)
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchases of property and equipment (200,000) (303,000)
Expenditures for patents and domain names (132,000) (105,000)
Redemption of investments held-to-maturity 0 19,359,000
Purchase of investments held-to-maturity 0 (8,956,000)
Net cash provided by (used in) investing activities (332,000) 9,995,000
CASH FLOWS FROM FINANCING ACTIVITIES    
Net proceeds from the sale of common stock from underwritten public offering 26,460,000 0
Proceeds from exercise of warrants 0 400,000
Net cash provided by financing activities 26,460,000 400,000
Effects of exchange rates on cash, cash equivalents and restricted cash 0 (1,000)
NET INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH 18,901,000 4,297,000
CASH, CASH EQUIVALENTS AND RESTRICTED CASH — Beginning of period 10,838,000 4,605,000
CASH, CASH EQUIVALENTS AND RESTRICTED CASH — End of period 29,739,000 8,902,000
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION    
Taxes Paid 1,000 1,000
SUPPLEMENTAL DISCLOSURE OF NON-CASH ACTIVITIES    
Restricted stock units issued in settlement of liability 280,000 0
Property and equipment included in accounts payable 142,000 124,000
Property and equipment included in accrued liabilities 46,000 92,000
Patents included in accounts payable 84,000 23,000
Patents included in accrued liabilities 0 19,000
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents    
Total cash, cash equivalents and restricted cash $ 29,739,000 $ 8,902,000