Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.23.3
Consolidated Statements of Cash Flows - USD ($)
 12 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash flows from operating activities:    
Consolidated net loss $ (65,010,000) $ (50,304,000)
Adjustments to reconcile consolidated net loss to net cash used in operating activities:    
Share-based compensation 4,391,000 4,377,000
Amortization of intangible assets 126,000 401,000
Amortization of finance lease right-of-use assets 224,000 599,000
Amortization of operating lease right-of-use assets 356,000 516,000
Depreciation of fixed assets 674,000 2,275,000
Gain on sale of fixed assets (773,000)  
Accrued interest receivable on promissory note receivable (75,000) (75,000)
Amortization of premiums on debt securities 67,000 312,000
Loss on sale of debt securities 98,000  
Amortization of deferred financing costs 242,000 107,000
Inventory reserve 4,915,000  
Impairment of fixed assets 17,900,000  
Impairment of intangible assets 565,000  
Gain on disposition of finance lease ROU assets (5,000)  
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 1,000,000 (886,000)
Settlement receivable 5,100,000 5,100,000
Inventory (1,015,000) (3,873,000)
Prepaid expenses and other current assets 885,000 307,000
Prepaid expenses - noncurrent 74,000 (74,000)
Security deposit (21,000) (5,000)
Accounts payable (625,000) 1,239,000
Accrued expenses 145,000 1,443,000
Accrued expenses - noncurrent 527,000  
Operating lease obligations (101,000) (15,000)
Contract liabilities (100,000) 7,000
Net cash used in operating activities (30,436,000) (37,480,000)
Cash flows from investing activities:    
Purchases of debt securities   (5,355,000)
Redemption of debt securities 4,100,000 13,618,000
Sale of debt securities 6,739,000  
Purchase of equity security   (1,760,000)
Additions to intangible assets   (4,300,000)
Purchases of fixed assets (5,738,000) (7,330,000)
Sales proceeds for fixed assets 2,600,000  
Payment for RubrYc asset acquisition (692,000)  
Net cash provided by (used in) investing activities 7,009,000 (5,127,000)
Cash flows from financing activities:    
Proceeds from sales of common stock 11,487,000  
Payments for fractional shares after reverse stock split (39,000)  
Acquisition of noncontrolling interest   (50,000)
Proceeds from equipment financing loan 500,000  
Payment of equipment financing loan (99,000)  
Payment of term note payable (9,318,000)  
Proceeds from exercise of stock options 0 77,000
Costs to attain term note (22,000) (322,000)
Payment of finance lease obligation (208,000) (5,830,000)
Net cash provided by (used in) financing activities 2,301,000 (6,125,000)
Effect of exchange rate changes 33,000  
Net decrease in cash, cash equivalents and restricted cash (21,093,000) (48,732,000)
Cash, cash equivalents and restricted cash - beginning 28,672,000 77,404,000
Cash, cash equivalents and restricted cash - end 7,579,000 28,672,000
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  
Increase in finance lease obligation for new leases 814,000  
RubrYc asset acquisition by issuance of common stock 650,000  
Costs to raise capital paid directly from gross proceeds 636,000  
Subscription receivable 204,000  
Cost accrued to amend term note payable 125,000  
Unpaid fixed assets included in accounts payable   1,769,000
Termination of finance ROU assets including issuance of warrant   25,386,000
Note payable to acquire Facility   22,375,000
Increase in operating lease ROU assets for new lease - net of lease incentive   5,570,000
Settlement of revenue contract   580,000
Issuance of warrant for final finance lease obligation payment   217,000
Lease incentive for construction in progress   (82,000)
Acquisition of noncontrolling interest   18,000
Unrealized (gain) loss on available-for-sale debt securities 159,000 150,000
Supplemental cash flow information:    
Cash paid during the period for interest $ 687,000 $ 1,045,000