Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS

v3.24.2
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES    
Net loss $ (3,733) $ (10,625)
Adjustments to reconcile net loss to net cash flows used in operating activities    
Depreciation and amortization 32 53
Inventory reserve 12 1,565
Amortization of discount of notes payable and convertible notes payable 2,568 1,815
Foreign exchange adjustments 1,911 2,773
Tax benefit recognized on unrealized gain on debt securities (100)  
Loss on investment in convertible bond 297 133
Loss on equity method investment 1,713 1,913
Loss on debt extinguishment 821 501
Loss on disposal of property and equipment 1 2
Loss (gain) on leased assets   22
Share-based compensation 1,262 16
Shares issued for services   119
Fair value of warrants issued for services 334  
Change in fair value of warrant derivative liabilities (1,195) (1,304)
Change in fair value of conversion feature derivative, notes payable (2,773) (4,259)
Changes in fair value of embedded derivative, note payable from related party (36) (6)
Net changes in operating assets and liabilities    
Accounts receivable (5,149) 607
Inventories 650 434
Prepaid expenses and other current assets (214) (7)
Other non-current assets 239 591
Accounts payable and accrued expenses 4,800 3,678
Other current liabilities (2,025) (2,777)
Other long-term liabilities (918) (317)
Net cash flows used in operating activities (1,503) (5,073)
CASH FLOWS FROM INVESTING ACTIVITIES    
Proceeds from sale of convertible bond 2,232 2,919
Purchases of property and equipment (17) (26)
Loan to equity method investee (2,647) (5,280)
Net cash flows used in investing activities (432) (2,387)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from notes payable issued 7,050 6,468
Proceeds from notes payable issued, related parties 927 3,900
Proceeds from convertible notes payable issued 1,000  
Proceeds from convertible notes payable issued, related party 1,000  
Payments of notes payable (7,390) (1,809)
Payments of notes payable, related party (110) (976)
Payments of convertible notes   (350)
Net cash flows provided by financing activities 2,477 7,233
Effect of exchange rate changes on cash (16) (31)
Net decrease in cash and cash equivalents 526 (258)
Cash and cash equivalents, beginning of year 2,021 2,279
Cash and cash equivalents, end of year 2,547 2,021
SUPPLEMENTAL DISCLOSURES OF CASH FLOW ACTIVITIES    
Interest paid 2,453 1,335
Income taxes paid (refunded) 83 $ 4
NON-CASH INVESING AND FINANCING ACTIVITIES    
Capitalized interest on renewal of notes payable 618  
Conversion of convertible note payable to common stock 3,590  
Newly acquired right-of-use lease asse $ 189