Quarterly report pursuant to Section 13 or 15(d)

Statements of Cash Flows (Unaudited)

Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash flows from operating activities    
Net loss $ (7,173) $ (2,064)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation expense 4
Stock-based compensation expense 584 496
Convertible debt discount amortization 447
Convertible debt non-cash interest 127
Amortization of operating lease right of use asset 75
Gain on extinguishment of debt (19)
Deferred compensation to CEO 157
Changes in assets and liabilities:    
Prepaid expense and other current assets 625 (7)
Prepaid related party service fee (38)
Accounts payable and accrued liabilities (46) 20
Operating lease liability (73)
Related party service fee payable (9)
Net cash used in operating activities (6,004) (890)
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 237
Proceeds from convertible notes 1,098
Repayment of loan from stockholder (460)
Deferred offering costs (103)
Proceeds from exercise of options 119
Net cash provided by financing activities 891
Net increase (decrease) in cash (6,006) 1
Cash at the beginning of the period 16,579
Cash at the end of the period 10,573 1
Supplemental cash flow information    
Deferred offering costs included in accrued liabilities 519
Deferred preclinical charges included in prepaid expenses and other current assets 780
Cash paid for income taxes