Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.21.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Cash flows from operating activities    
Net loss $ (2,125) $ (3,146)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:    
Realized (gain) loss on marketable debt securities (2) 12
(Gain) loss on discontinued operations, net of taxes (201) 40
Depreciation and amortization 449 398
Amortization of debt discount 1
Amortization on right-of-use assets 9
Lower of cost or net realizable value inventory adjustment 68
Consulting expense paid through reduction of secured promissory note receivable 250
Stock-based compensation expense 1,459 744
Gain on sale of real estate (1,892)
Changes in operating assets and liabilities:    
Accounts receivable (1,039) 936
Inventory (1,468) 444
Prepaid and other assets (3,005) (8)
Other assets (240)
Accounts payable and accrued expenses 339 (14)
Lease liabilities (9)
Other liabilities 1,814 (247)
Net cash provided by (used in) operating activities 2,592 (841)
Cash flows from investing activities    
Issuance of secured promissory note receivable (3,000)
Purchase of marketable securities (4,560) (3,137)
Proceeds from sale of marketable debt securities 3,840 8,908
Escrow receivable 4,812
Capital expenditures (1,689) (228)
Acquisition of Confucius Labs (2,500)
Proceeds from sale of building, net 2,081
Net cash (used in) provided by investing activities (1,016) 5,543
Cash flows from financing activities    
Payment of dividends (5,822)
Issuance costs on unsecured convertible promissory notes (10)
Proceeds from unsecured convertible promissory notes 10,000
Net cash provided by (used in) financing activities 9,990 (5,822)
Increase (decrease) in cash and cash equivalents 6,382 (1,120)
Cash and cash equivalents, at the beginning of the year 434 1,554
Cash and cash equivalents, at the end of the year 6,816 434
Supplemental disclosures:    
Cash paid for income taxes 103
Interest payment on the promissory ntoes 250
Supplemental disclosure of non-cash investing and financing activities:    
Right-of-use assets and lease liability recorded upon adoption of ASC 842 4,740
Net unrealized (loss) gain, investments in marketable debt securities $ (9) $ 22