Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Cash flows from operating activities:    
Net loss $ (11,876) $ (9,805)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 68 18
Stock-based compensation 1,140 707
Deferred compensation - related party 0 62
Change in fair value of warrant liability (3,185) 2,548
Gain in settlement of liability 0 (149)
Gain from expiration of warrants 0 (1,238)
Loss on foreign currency transactions 40 0
Other 0 (9)
Changes in operating assets and liabilities:    
Prepaid expenses (252) (364)
Accounts payable 436 411
Accrued expenses and other current liabilities 1,400 495
Other long-term liabilities 26 0
Net cash used in operating activities (12,203) (7,324)
Cash flows from investing activities:    
Purchase of fixed assets (417) (28)
Net cash used in investing activities (417) (28)
Cash flows from financing activities:    
Proceeds from exercise of stock options 5 0
Proceeds from exercise of warrants 15 3,988
Proceeds from sale of common stock, net of cash stock issuance costs 12,025 6,071
Net cash provided by financing activities 12,045 10,059
Effect of exchange rate changes on cash and cash equivalents (5) 0
Net change in cash and cash equivalents (580) 2,707
Cash and cash equivalents, at beginning of year 7,714 5,007
Cash and cash equivalents, at end of year 7,134 7,714
Supplemental disclosures of cash flow information:    
Cash paid for interest 5 3
Cash paid for income taxes 0 0
Non-cash investing and financing activities:    
Purchases of property and equipment in accounts payable and accrued liabilities 23 0
Leasehold improvements paid by landlord 82 0
Common stock issued for conversion of debt 0 302
Warrants issued for services provided 0 104
Common stock issued for services provided $ 0 $ 89