v3.20.4
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
9 Months Ended 12 Months Ended
Sep. 30, 2019
Dec. 31, 2019
Dec. 31, 2018
CASH FLOWS FROM OPERATING ACTIVITIES      
Net loss $ (53,478,000) $ (54,842,000) $ (72,587,000)
Adjustments to reconcile net loss to net cash flows used in operating activities      
Depreciation and amortization 54,000 73,000 61,000
Impairment loss on long-term investment 524,000 515,000 0
Amortization of discount of notes payable and convertible notes payable 21,875,000 23,781,000 18,234,000
Foreign exchange adjustments (207,000) (115,000) (297,000)
Net losses on investment in marketable securities 21,718,000 21,432,000 43,977,000
Loss on equity method investment 413,000 414,000 97,000
Loss on debt extinguishment 438,000 438,000 2,702,000
Share-based compensation and fair value of replacement equity award 3,593,000 3,805,000 4,545,000
Notes conversion costs 3,341,000 3,341,000  
Change in fair value of warrant derivative liabilities (3,492,000) (3,545,000) (4,476,000)
Change in fair value of embedded conversion option (131,000) (131,000)  
Net changes in operating assets and liabilities      
Accounts receivable (193,000) (361,000) (1,761,000)
Inventories (2,787,000) (3,267,000) (4,079,000)
Prepaid expenses and other current assets (1,025,000) (720,000) (332,000)
Other non-current assets (4,150,000) (4,364,000) (241,000)
Income tax receivable and payable   (64,000) 24,000
Accounts payable and accrued expenses 5,966,000 6,527,000 3,572,000
Deferred rent (287,000) (317,000) 245,000
Other current liabilities 828,000 426,000 5,312,000
Other long-term liabilities 2,363,000 2,451,000 (630,000)
Net cash flows used in operating activities (4,137,000) (4,523,000) (5,634,000)
CASH FLOWS FROM INVESTING ACTIVITIES      
Cash paid in connection with the Merger (1,641,000) (1,645,000)  
Sale of marketable securities 221,000 221,000 6,439,000
Purchases of property and equipment (55,000) (60,000) (94,000)
Purchase of marketable securities and investment at cost     (469,000)
Capital contributions and loan to equity method investees     (13,316,000)
Net cash flows used in investing activities (1,475,000) (1,484,000) (7,440,000)
CASH FLOWS FROM FINANCING ACTIVITIES      
Repurchase of common stock and warrants     (11,262,000)
Proceeds from notes payable issued, net of issuance cost and discount   600,000 11,560,000
Proceeds from convertible notes payable issued, net of issuance cost and discount     17,816,000
Payments of notes payable   (143,000) (5,077,000)
Payments of convertible notes (3,368,000) (5,348,000) (20,000,000)
Proceeds from exercise of warrants 186,000 186,000 111,000
Proceeds from issuance of common stock 6,210,000 8,589,000 1,275,000
Net cash flows provided by (used in) financing activities 3,028,000 3,884,000 (5,577,000)
Effect of exchange rate changes on cash 5,000 (13,000)  
Net decrease in cash and cash equivalents (2,579,000) (2,136,000) (18,651,000)
Cash, cash equivalent, beginning of period 3,905,000 3,905,000 22,556,000
Cash, cash equivalents, end of period 1,326,000 1,769,000 3,905,000
SUPPLEMENTAL DISCLOSURES OF CASH FLOW ACTIVITIES      
Interest paid 1,239,000 1,543,000 2,178,000
Income taxes paid 242,000 227,000 3,000
NON-CASH INVESTMENT AND FINANCING ACTIVITIES      
Warrant liabilities reclassified to equity 6,337,000 6,337,000  
Exercised of warrants and options on cashless basis     $ 18,345,000
Conversion of convertible notes and notes payable to common stock 33,777,000 33,777,000  
Conversion of accrued interest payable to common stock 2,381,000 5,722,000  
Initial recognition of right-of-use lease asset $ 2,922,000 $ 2,922,000  

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