Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

v3.23.1
Condensed Consolidated Statements of Cash Flows - USD ($)
 9 Months Ended
Mar. 31, 2023
Mar. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (45,792,000) $ (42,920,000)
Depreciation and amortization 8,193,000 5,492,000
Stock-based compensation 7,454,000 7,754,000
Amortization of debt discount 421,000
Amortization of operating lease right of use asset 282,000 202,000
Non cash interest payments 1,364,000
Deferred income taxes (2,365,000)
Change in fair value of derivative liabilities (456,000)
Change in fair value of contingent consideration (1,438,000) 180,000
(Gain) Loss on disposal of fixed assets & intangibles (105,000) (204,000)
Changes in operating assets and liabilities:    
Accounts receivable 427,000 (936,000)
Inventory (3,464,000) (1,841,000)
Other current assets (31,000) (1,558,000)
Accounts payable and accrued expenses (516,000) 1,106,000
Lease liabilities (255,000) (210,000)
Other long term liabilities 333,000 (176,000)
Deferred revenue (172,000) (162,000)
Net Cash Used in Operating Activities (36,120,000) (33,273,000)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Cash paid for property, plant and equipment (10,170,000) (21,794,000)
Acquisition of business, net of cash acquired (13,882,000) (4,078,000)
Cash received from the sale of fixed assets 122,000 316,000
Net Cash Used in Investing Activities (23,930,000) (25,556,000)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from issuance of common stock, net of issuance costs 32,026,000 25,630,000
Proceeds from exercise of employee stock options 369,000
Proceeds from employee stock purchase plan 288,000 312,000
Proceeds from exercise of warrants 67,000
Net Cash Provided by Financing Activities 32,314,000 26,378,000
Net Increase (Decrease) in Cash, Cash Equivalents and Restricted Cash (27,736,000) (32,451,000)
Cash, Cash Equivalents and Restricted Cash - Beginning of Period 80,485,000 88,322,000
Cash, Cash Equivalents and Restricted Cash - End of Period 52,749,000 55,871,000
SUPPLEMENTARY CASH FLOW INFORMATION:    
Income taxes 40,000
SUPPLEMENTARY DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES:    
Fixed assets included in accounts payable and accrued expenses 654,000 378,000
Operating lease right-of-use asset, net 133,000
Operating lease liability (133,000)
Common stock issued in payment of interest 1,364,000
Acquisition of Business    
Tangible assets, excluding cash and cash equivalents 3,904,000 1,346,000
Intangibles 8,289 9,452,000
Goodwill 6,479,000 8,051,000
Deferred tax liability (2,365,000) (1,980,000)
Contingent consideration (1,099,000)
Liabilities assumed (1,124,000) (1,871,000)
Liabilities cancelled 88,000
Issuance of common stock for acquisition (1,690,000) (2,297,000)
Noncontrolling interest $ (7,523,000)