Cash Flow

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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Cash flow from operating activities:    
Net loss $ (21,655) $ (6,029)
Adjustments to reconcile net loss to net cash used in operating activities    
Accretion of interest for royalty obligations 1,316
Depreciation of property and equipment 389
Amortization of intangibles 679
Amortization of debt discount 259 616
Lease amortization expense 74
Stock-based compensation 3,662 1,269
Inventory write-off 792
Gain on default judgment (363)
Changes in operating assets and liabilities:    
Accounts receivable (7,940)
Inventory 1,385
Prepaid expenses (1,411) (890)
Operating lease right-of-use assets 243
Accounts payable 4,031 558
Accrued expenses 2,689 (283)
Operating lease liabilities (189)
Deferred revenue (294)
Deferred income tax (465)
Other assets and liabilities 97
Net cash used in operating activities (16,338) (5,122)
Cash flow from investing activities:    
Acquisition of LNHC, Inc. 2,761  
Net cash provided by investing activities 2,761
Cash flow from financing activities:    
Proceeds from PIPE, net 27,384
Proceeds from stock option exercises 85
Proceeds from loan payable, net of debt discount 693 690
Payment of loan payable, net of debt discount (845) (215)
Common stock issued for cash 5,972
Rescission of common stock (166)
Net cash provided by financing activities 27,317 6,281
Net increase in cash and cash equivalents 13,740 1,159
Cash, cash equivalents and restricted cash as of beginning of period 513 96
Cash, cash equivalents and restricted cash as of end of period 14,253 1,255
Reconciliation to condensed consolidated balance sheets:    
Cash and cash equivalents 14,203 513
Restricted cash 50
Total cash, cash equivalents and restricted cash shown in the statement of cash flows 14,253 513
Supplemental cash flow information:    
Cash paid for income taxes
Cash paid for interest expense 19
Supplemental non-cash investing and financing activities:    
PIPE proceeds allocated to accounts payable 1,776
PIPE proceeds allocated to debt payable 20,340
PIPE proceeds allocated to fees 600
Royalty agreement liability reclassified from additional paid in capital 10,821
Debt discount from common stock issued for extension of bridge loan 448
Shares issued for payment of account payable or for services 50 7
Conversion of notes to common stock 737 1,363
Transfer of liabilities to Chromocell Corporation for Series C Preferred Stock 2,153
Account payable and accrued expenses converted to notes 1,455
Account payable and accrued expenses converted to notes - related party $ 132

Source

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