Quarterly report [Sections 13 or 15(d)]

Condensed Consolidated Statements of Cash Flows

v3.25.3
Condensed Consolidated Statements of Cash Flows - USD ($)
 3 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Cash flows from operating activities:    
Consolidated net loss $ (5,720,000) $ (3,989,000)
Adjustments to reconcile consolidated net loss to net cash used in operating activities:    
Share-based compensation 323,000 415,000
Amortization of intangible assets 5,000 5,000
Amortization of finance lease right-of-use assets 68,000 68,000
Amortization of operating lease right-of-use assets 93,000 85,000
Depreciation of fixed assets 123,000 120,000
Accrued interest receivable on promissory note receivable (19,000) (19,000)
Amortization of premiums on debt securities (9,000) 0
Changes in operating assets and liabilities:    
Accounts receivable - trade (65,000) 0
Prepaid expenses and other current assets (106,000) (41,000)
Accounts payable 495,000 497,000
Accrued expenses (686,000) (952,000)
Operating lease obligations (117,000) (104,000)
Contract liabilities (50,000) 200,000
Net cash used in operating activities (5,665,000) (3,715,000)
Cash flows from investing activities:    
Purchases of debt securities (21,461,000) 0
Payment received for interest and principal on promissory note receivable   713,000
Purchase of fixed assets (32,000) 0
Net cash (used in) provided by investing activities (21,493,000) 713,000
Cash flows from financing activities:    
Proceeds from sales of common stock 219,000 4,000
Proceeds from pre-funded warrants 50,006,000 0
Payments made for costs to acquire capital (3,465,000) 0
Subscription receivable 105,000 0
Payment of equipment financing loan (47,000) (43,000)
Payment of term promissory note (60,000) (51,000)
Payment of finance lease obligation (53,000) (72,000)
Net cash provided by (used in) financing activities 46,705,000 (162,000)
Net increase (decrease) in cash, cash equivalents and restricted cash 19,547,000 (3,164,000)
Cash, cash equivalents and restricted cash - beginning 8,792,000 14,425,000
Cash, cash equivalents and restricted cash - end 28,339,000 11,261,000
Schedule of non-cash activities:    
Costs to raise capital included in accrued expenses 190,000 0
Unpaid fixed assets in accounts payable 138,000 0
Supplemental cash flow information:    
Cash paid during the period for interest $ 36,000 $ 57,000