Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

v3.22.1
Condensed Consolidated Statements of Cash Flows - USD ($)
 9 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash flows from operating activities:    
Consolidated net loss $ (33,250,000) $ (23,327,000)
Adjustments to reconcile consolidated net loss to net cash used in operating activities:    
Share-based compensation 3,198,000 990,000
Amortization of intangible assets 333,000 218,000
Amortization of finance lease right-of-use assets 587,000 1,236,000
Amortization of operating lease right-of-use assets 386,000 0
Depreciation of fixed assets 1,532,000 330,000
Accrued interest receivable on convertible promissory note receivable (56,000) (37,000)
Amortization of premiums on debt securities 269,000 130,000
Amortization of deferred financing costs 67,000 0
Forgiveness of note payable and accrued interest - SBA loan (607,000) 0
Settlement of revenue contract (84,000) 0
Reserve for loss on contract 0 300,000
Changes in operating assets and liabilities:    
Accounts receivable - trade (890,000) (312,000)
Accounts receivable - other 0 (1,000)
Settlement receivable 5,100,000 0
Inventory (3,257,000) 366,000
Prepaid expenses and other current assets (494,000) (2,247,000)
Prepaid expenses - noncurrent (975,000) 0
Security deposits (5,000) 0
Accounts payable 1,649,000 (303,000)
Accrued expenses 618,000 743,000
Operating lease obligations (12,000) 0
Contract liabilities (86,000) (924,000)
Net cash used in operating activities (25,977,000) (22,838,000)
Cash flows from investing activities:    
Purchases of debt securities (5,355,000) (20,963,000)
Redemption of debt securities 9,711,000 1,500,000
Purchase of equity security (1,760,000) 0
Additions to intangible assets (4,300,000) (201,000)
Purchases of fixed assets (3,900,000) (2,406,000)
Issuance of note receivable 0 (1,500,000)
Net cash used in investing activities (5,604,000) (23,570,000)
Cash flows from financing activities:    
Payment of finance lease obligation (5,820,000) (223,000)
Proceeds from sales of preferred and common stock 0 75,281,000
Proceeds from subscription receivable 0 5,549,000
Proceeds from the exercise of stock options 77,000 29,000
Cost to attain term note (322,000) 0
Acquisition of noncontrolling interest (50,000) 0
Costs to raise capital 0 (4,713,000)
Net cash (used in) provided by financing activities (6,115,000) 75,923,000
Net (decrease) increase in cash, cash equivalents and restricted cash (37,696,000) 29,515,000
Cash, cash equivalents - beginning 77,404,000 55,112,000
Cash, cash equivalents and restricted cash - end 39,708,000 84,627,000
Schedule of non-cash activities:    
Increase in ROU operating assets and liabilities for new leases 5,570,000 0
Fixed assets included in accounts payable in prior period, paid in current period 791,000 0
Unrealized loss on available-for-sale debt securities 131,000 36,000
Lease incentive for construction in progress 82,000 0
Unpaid fixed assets included in accounts payable 2,193,000 943,000
Termination of finance ROU assets including issuance of warrant 25,386,000 0
Note payable to acquire Facility 22,375,000 0
Issuance of warrant for final finance lease obligation payment 217,000 0
Unpaid intangible assets included in accounts payable 0 19,000
Acquisition of noncontrolling interest 18,000 0
Settlement of revenue contract 580,000 0
Conversion of preferred stock shares into common stock 0 29,000
Supplemental cash flow information:    
Cash paid during the period for interest $ 860,000 $ 1,839,000