Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

v3.23.1
Condensed Consolidated Statements of Cash Flows - USD ($)
 9 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Cash flows from operating activities:    
Consolidated net loss $ (58,977,000) $ (33,250,000)
Adjustments to reconcile consolidated net loss to net cash used in operating activities:    
Share-based compensation 3,945,000 3,198,000
Amortization of intangible assets 121,000 333,000
Amortization of finance lease right-of-use assets 156,000 587,000
Amortization of operating lease right-of-use assets 290,000 386,000
Depreciation of fixed assets 508,000 1,532,000
Gain on sale of fixed assets (732,000) 0
Accrued interest receivable on convertible promissory note receivable (56,000) (56,000)
Amortization of premiums on debt securities 67,000 269,000
Loss on sale of debt securities 98,000 0
Amortization of deferred financing costs 160,000 67,000
Inventory reserve 4,915,000 0
Impairment of fixed assets 17,600,000 0
Impairment of intangible assets 565,000 0
Gain on disposition of finance lease ROU assets (5,000) 0
Forgiveness of note payable and accrued interest - SBA loan   (607,000)
Settlement of revenue contract   (84,000)
Changes in operating assets and liabilities:    
Accounts receivable - trade 931,000 (890,000)
Settlement receivable 5,100,000 5,100,000
Inventory (1,015,000) (3,257,000)
Prepaid expenses and other current assets 627,000 (494,000)
Prepaid expenses - noncurrent 74,000 (975,000)
Security deposit (21,000) (5,000)
Accounts payable (481,000) 1,649,000
Accrued expenses (18,000) 618,000
Accrued expenses - noncurrent 791,000 0
Operating lease obligations (9,000) (12,000)
Contract liabilities (100,000) (86,000)
Net cash used in operating activities (25,466,000) (25,977,000)
Cash flows from investing activities:    
Purchases of debt securities   (5,355,000)
Redemption of debt securities 4,100,000 9,711,000
Sale of debt securities 6,739,000 0
Purchase of equity security   (1,760,000)
Additions to intangible assets   (4,300,000)
Purchases of fixed assets (5,232,000) (3,900,000)
Sales of fixed assets 2,100,000 0
Payment for RubrYc asset acquisition (692,000) 0
Net cash provided by (used in) investing activities 7,015,000 (5,604,000)
Cash flows from financing activities:    
Proceeds from sales of common stock 7,851,000 0
Payments for fractional shares after reverse stock split (39,000) 0
Acquisition of noncontrolling interest   (50,000)
Proceeds from equipment financing loan 500,000 0
Payment of equipment financing loan (62,000) 0
Payment of term note payable (8,523,000) 0
Proceeds from exercise of stock options   77,000
Costs to attain term note (22,000) (322,000)
Payment of finance lease obligation (144,000) (5,820,000)
Net cash used in provided by financing activities (439,000) (6,115,000)
Effect of exchange rate changes 33,000 0
Net decrease in cash, cash equivalents and restricted cash (18,857,000) (37,696,000)
Cash, cash equivalents and restricted cash - beginning 28,672,000 77,404,000
Cash, cash equivalents and restricted cash - end 9,815,000 39,708,000
Schedule of non-cash activities:    
Fixed assets included in accounts payable in prior period, paid in current period 1,769,000 791,000
Increase in finance lease ROU assets for new leases 814,000 0
Increase in finance lease obligation for new leases 814,000 0
RubrYc asset acquisition by issuance of common stock 650,000 0
Costs to raise capital paid directly from gross proceeds 636,000 0
Termination of finance ROU assets including issuance of warrant 0 25,386,000
Note payable to acquire Facility 0 22,375,000
Increase in operating lease ROU assets for new lease - net of lease incentive 0 5,570,000
Settlement of revenue contract 0 580,000
Issuance of warrant for final finance lease obligation payment 0 217,000
Lease incentive for construction in progress 0 82,000
Acquisition of noncontrolling interest 0 18,000
Unrealized (gain) loss on available-for-sale debt securities 159,000 131,000
Supplemental cash flow information:    
Cash paid during the period for interest $ 523,000 $ 860,000