Quarterly report pursuant to Section 13 or 15(d)

Statements of Cash Flows (Unaudited)

Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash flows from operating activities    
Net loss $ (3,537) $ (964)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation expense 2
Stock-based compensation expense 290 202
Convertible debt discount amortization 197
Convertible debt non-cash interest 56
Amortization of operating lease right of use asset 37
Gain on extinguishment of debt (19)
Deferred compensation to CEO 37
Changes in assets and liabilities:    
Prepaid expense and other current assets 263 (80)
Prepaid related party service fee (10)
Accounts payable and accrued liabilities 24 (83)
Operating lease liability (36)
Related party service fee payable (9)
Net cash used in operating activities (2,957) (673)
Cash flows from investing activities    
Purchases of property, plant, and equipment (2)
Net cash used in investing activities (2)
Cash flows from financing activities    
Proceeds from loan from stockholder 151
Proceeds from convertible notes 1,010
Repayment of loan from stockholder (460)
Proceeds from exercise of options 119
Net cash provided by financing activities 820
Net increase (decrease) in cash (2,959) 147
Cash at the beginning of the period 16,579  
Cash at the end of the period 13,620 147
Supplemental cash flow information    
Deferred offering costs included in accrued liabilities 72
Deferred preclinical charges included in prepaid expenses and other current assets 275
Cash paid for income taxes