v3.19.3
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
CASH FLOWS FROM OPERATING ACTIVITIES    
Net loss $ (59,563) $ (38,873)
Adjustments to reconcile net loss to net cash flows from operating activities    
Depreciation and amortization 54 44
Impairment loss on long-term investment 524  
Cost of inventory written off   11
Amortization of discount of notes payable and convertible notes payable 19,479 13,057
Foreign exchange adjustments on convertible notes and notes payable 49 (22)
Net loss on investment in marketable securities 21,718 31,627
Loss on debt settlement 6,427 3,245
Share-based compensation 1,103 3,743
Fair value of replacement equity awards 2,438  
Notes conversion expense 3,906  
Change in fair value of warrant derivative liabilities (623) (20,351)
Change in fair value of embedded conversion option (342) (466)
Net changes in operating assets and liabilities    
Accounts receivable (548) (1,390)
Inventories (2,787) (2,735)
Prepaid expenses and other current assets (426) (39)
Other non-current assets (4,150) (238)
Accounts payable and accrued expenses 4,857 2,585
Deferred revenue 500  
Deferred rent (287) 246
Other current liabilities 230 2,130
Other long-term liabilities 2,363 2,690
Net cash flows used in operating activities (5,078) (4,736)
CASH FLOWS FROM INVESTING ACTIVITIES    
Cash paid in connection with the Merger (1,641)  
Purchases of property and equipment (55) (81)
Sales of marketable securities 221 6,439
Purchase of marketable securities and investment at cost   (501)
Net cash flows provided by (used in) investing activities (1,475) 5,857
CASH FLOWS FROM FINANCING ACTIVITIES    
Repurchase of common stock and warrants   (7,500)
Proceeds from notes payable issued, net of issuance cost and discount   6,670
Proceeds from convertible notes payable issued, net of issuance cost and discount   17,645
Payments of notes payable   (4,200)
Payments of convertible notes (3,368) (20,000)
Proceeds from exercise of warrants 186 105
Proceeds from issuance of common stock 6,210 275
Net cash flows provided by (used in) financing activities 3,028 (7,005)
Effect of exchange rate changes on cash (9) (10)
Net decrease in cash and cash equivalents (3,534) (5,894)
Cash and cash equivalents, beginning of period 17,080 22,556
Cash and cash equivalents, end of period 13,546 16,662
SUPPLEMENTAL DISCLOSURES OF CASH FLOW ACTIVITIES    
Interest paid 1,239 1,783
Income taxes paid 242 2
Warrant liabilities reclassified to equity 776  
Conversion of convertible notes payable and notes payable to common stock 33,457  
Conversion of accrued interest payable to common stock $ 2,381  
Exercise of warrants and options on cashless basis   $ 1,798

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