Quarterly report pursuant to Section 13 or 15(d)

Statements of Cash Flows (Unaudited)

v3.21.2
Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Cash flows from operating activities    
Net loss $ (7,265) $ (1,384)
Adjustments to reconcile net loss to net cash used in operating activities:    
R&D Expense for issuance of common stock for anti-dilution clause 2,191 104
Stock-based compensation expense 735 161
Convertible debt discount amortization 488 59
Convertible debt non-cash interest 139 17
Gain on extinguishment of debt (19)
Deferred compensation to CEO 249 320
Loss on debt conversion 431
Changes in assets and liabilities:    
Prepaid expense and other current assets (1,709) (11)
Prepaid related party service fee (58)
Accounts payable and accrued liabilities 463 (88)
Related party service fee payable (9) (99)
Net cash used in operating activities (4,364) (921)
Cash flows from financing activities    
Net proceeds from initial public offering 22,271
Issuance of common stock for cash 142
Proceeds from loan from stockholder 248 150
Proceeds from convertible notes 1,098 900
Repayment of loan from stockholder (1,361) (150)
Deferred offering costs   (92)
Proceeds from exercise of options 119
Proceeds from government loan 19
Net cash provided by financing activities 22,375 969
Net increase in cash 18,011 48
Cash at the beginning of the period 15
Cash at the end of the period 18,011 63
Supplemental cash flow information    
Deferred offering costs included in accrued liabilities 50
Cash paid for income taxes $ 1