Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

v3.20.4
Condensed Consolidated Statements of Cash Flows - USD ($)
 6 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Cash flows from operating activities:    
Consolidated net loss $ (15,665,000) $ (8,228,000)
Adjustments to reconcile consolidated net loss to net cash used in operating activities:    
Share-based compensation 616,000 105,000
Amortization of intangible assets 145,000 153,000
Amortization of finance lease right-of-use assets 830,000 830,000
Depreciation of fixed assets 211,000 137,000
Accrued interest receivable on convertible promissory note receivable (19,000) 0
Amortization of premiums on debt securities 50,000 0
Reserve for loss on contract 497,000 0
Changes in operating assets and liabilities:    
Accounts receivable - trade (104,000) (127,000)
Accounts receivable - other (52,000) 0
Work in process (273,000) 0
Prepaid expenses and other current assets (1,720,000) 144,000
Accounts payable 491,000 (549,000)
Accrued expenses 81,000 88,000
Contract liabilities (577,000) 1,755,000
Net cash used in operating activities (15,489,000) (5,692,000)
Cash flows from investing activities:    
Purchases of debt securities (16,466,000) 0
Issuance of convertible promissory note receivable (1,500,000) 0
Additions to intangible assets (177,000) (36,000)
Purchases of fixed assets (1,413,000) (202,000)
Net cash used in investing activities (19,556,000) (238,000)
Cash flows from financing activities:    
Proceeds from sales of preferred and common stock 70,397,000 4,515,000
Proceeds from subscription receivable 5,549,000 0
Proceeds from exercise of stock option 28,000 0
Proceeds from exercise of warrants 0 691,000
Costs to raise capital (4,642,000) (60,000)
Payment of finance lease obligation (147,000) 0
Net cash provided by financing activities 71,185,000 5,146,000
Net increase (decrease) in cash 36,140,000 (784,000)
Cash - beginning of period 55,112,000 55,112,000
Cash - end of period 91,252,000 3,637,000
Schedule of non-cash activities:    
Unpaid fixed assets included in accounts payable 419,000 0
Conversion of preferred stock into common stock 29,000 25,000
Increase in ROU assets under ASC 842 0 7,489,000
Unpaid intangible assets included in accounts payable 9,000 0
Unrealized loss on available-for-sale debt securities 20,000 0
Deemed dividend 0 21,560,000
Intangible assets included in accounts payable in prior period, paid in current period 0 8,000
Compensation shares 0 1,000
Supplemental cash flow information:    
Cash paid during the period for interest $ 1,228,000 $ 1,089,000