Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statement of Cash Flows (Unaudited)

v3.23.2
Condensed Consolidated Statement of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash flows from operating activities:    
Net income (loss) $ 736 $ (11,437)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Depreciation and amortization 1,183 390
Stock-based compensation 667 499
Stock issued under bonus plan 253
Stock issued for services 201
Amortization of lease liability and lease interest expense (138) (404)
Bad debt expense (benefit) 2
Changes in operating assets and liabilities:    
Accounts receivable (4,143) 5,485
Non-trade receivable 1,261 997
Inventory (826) 2,122
Prepaid expenses and other current assets 437 2,131
Contract fulfillment costs (1,117) (436)
Other assets (64) 893
Accounts payable (213) (1,343)
Accrued expenses (1,367) 834
Deferred revenue (31) 144
Income tax payable 17 26
Net cash provided by (used in) operating activities (3,397) 156
Cash flows from investing activities:    
Purchase of property and equipment (23) (6)
Net cash used in investing activities (23) (6)
Cash flows from financing activities:    
Repayment of debt (73) (73)
Proceeds from subscription agreement prior to issuance of common stock 6,800
Proceeds from issuance of common stock, net of costs 45
Net cash provided by (used in) financing activities (73) 6,772
Net increase (decrease) in cash and cash equivalents (3,493) 6,922
Cash and cash equivalents at beginning of period 13,213 11,233
Cash and cash equivalents at end of period 9,720 18,155
Supplemental disclosure of cash flow information:    
Cash paid for interest 5 74
Cash paid for income taxes 69 103
Non-cash operating and financing activities:    
Deferred offering costs in accrued expenses $ 694