Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.22.2.2
Consolidated Statements of Cash Flows - USD ($)
 12 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash flows from operating activities:    
Consolidated net loss $ (50,304,000) $ (23,213,000)
Adjustments to reconcile consolidated net loss to net cash used in operating activities:    
Share-based compensation 4,377,000 1,586,000
Amortization of intangible assets 401,000 291,000
Amortization of finance lease right-of-use assets 599,000 1,651,000
Amortization of operating lease right-of-use assets 516,000  
Depreciation of fixed assets 2,275,000 472,000
Accrued interest receivable on convertible promissory note receivable (75,000) (56,000)
Amortization of premiums on debt securities 312,000 216,000
Loss on abandonment of intangible assets   143,000
Amortization of deferred financing costs 107,000  
Forgiveness of note payable and accrued interest - SBA loan (607,000)  
Settlement of revenue contract (84,000)  
Impairment of investment in equity security 1,760,000  
Changes in operating assets and liabilities:    
Accounts receivable - trade (886,000) (426,000)
Accounts receivable - other   (112,000)
Settlement receivable 5,100,000 (10,200,000)
Inventory (3,873,000) 772,000
Prepaid expenses and other current assets 307,000 (1,746,000)
Prepaid expenses - noncurrent (74,000)  
Security deposit (5,000)  
Accounts payable 1,239,000 48,000
Accrued expenses 1,443,000 1,897,000
Operating lease obligations (15,000)  
Contract liabilities 7,000 (1,387,000)
Net cash used in operating activities (37,480,000) (30,064,000)
Cash flows from investing activities:    
Purchases of debt securities (5,355,000) (23,816,000)
Redemption of debt securities 13,618,000 4,000,000
Purchase of equity security (1,760,000)  
Additions to intangible assets (4,300,000) (242,000)
Purchases of fixed assets (7,330,000) (4,920,000)
Issuance of note receivable   (1,500,000)
Net cash used in investing activities (5,127,000) (26,478,000)
Cash flows from financing activities:    
Payment of finance lease obligation (5,830,000) (331,000)
Proceeds from sales of preferred and common stock   78,276,000
Proceeds from subscription receivable   5,549,000
Proceeds from exercise of stock options 77,000 54,000
Cost to attain term note (322,000)  
Acquisition of noncontrolling interest (50,000)  
Costs to raise capital   (4,713,000)
Net cash (used in) provided by financing activities (6,125,000) 78,835,000
Effect of exchange rate changes   (1,000)
Net (decrease) increase in cash, cash equivalents and restricted cash (48,732,000) 22,292,000
Cash, cash equivalents - beginning 77,404,000 55,112,000
Cash, cash equivalents and restricted cash - end 28,672,000 77,404,000
Schedule of non-cash activities:    
Increase in ROU operating assets and liabilities for new leases 5,570,000 146,000
Conversion of preferred stock shares into common stock shares   29,000
Fixed assets included in accounts payable in prior period, paid in current period 791,000  
Unrealized loss on available-for-sale debt securities 150,000 29,000
Lease incentive for construction in progress 82,000  
Unpaid fixed assets included in accounts payable 1,769,000 791,000
Termination of finance ROU assets including issuance of warrant 25,386,000  
Note payable to acquire Facility 22,375,000  
Settlement of revenue contract 580,000  
Issuance of warrant for final finance lease obligation payment 217,000  
Acquisition of noncontrolling interest 18,000  
Legal costs related to Fraunhofer litigation   (16,000,000)
Legal cost recovery - Fraunhofer litigation   16,000,000
Accounts receivable and accounts payable offset related to Fraunhofer settlement   75,000
Supplemental cash flow information:    
Cash paid during the period for interest $ 1,045,000 $ 2,446,000