v3.21.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
$ in Thousands
9 Months Ended
Sep. 30, 2021
USD ($)
Sep. 30, 2020
USD ($)
Cash flows from operating activities:    
Net loss $ (14,046) $ (9,368)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation expense 4,445 3,269
Common stock contribution to 401(k) 90 88
Depreciation and amortization 6 19
Amortization of debt issuance costs, debt discount and final payment on debt 200 546
Provision for bad debt   1,409
Non-cash lease expense 119 112
Loss on extinguishment of debt 300  
Change in fair value of equity securities 482 (1,891)
Changes in assets and liabilities:    
Trade and other receivables, net (255) 1,302
Income tax receivable 1,526 (1,526)
Prepaid expenses and other assets (526) (319)
Accounts payable and accrued liabilities 955 (464)
Operating lease liabilities (133) (120)
Unearned revenue recognized under units-of-revenue method (1,121) (1,052)
Other liabilities (6) 409
Net cash used in operating activities (7,964) (7,586)
Cash flows from investing activities:    
Payments related to purchase of royalty rights (20,500)  
Purchase of property and equipment   (9)
Net cash used in investing activities (20,500) (9)
Cash flows from financing activities:    
Proceeds from issuance of preferred stock 40,000  
Proceeds from issuance of common stock 17 26
Payment of preferred and common stock issuance costs (3,248) (231)
Proceeds from exercise of options 1,492 42
Principal payments - debt (4,250) (3,188)
Payment for extinguishment of debt (17,103)  
Payment for debt modification fee (24)  
Payment for preferred stock dividends (2,131)  
Principal payments - finance lease   (14)
Proceeds from disgorgement of stockholder's short-swing profits   13
Taxes paid related to net share settlement of equity awards (479) (16)
Net cash provided by (used in) financing activities 14,274 (3,368)
Net decrease in cash and restricted cash (14,190) (10,963)
Cash and restricted cash at the beginning of the period 86,364 56,688
Cash and restricted cash at the end of the period 72,174 45,725
Supplemental Cash Flow Information:    
Cash paid for interest 311 546
Non-cash investing and financing activities:    
Preferred stock dividend accrual 1,368  
Interest added to principal balance on long-term debt   $ 317
Accrued cost related to issuance of capital stock $ 137  

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