Consolidated Statements of Cash Flows - USD ($)
$ in Thousands |
12 Months Ended |
Dec. 31, 2021 |
Dec. 31, 2020 |
| Cash Flows from Operating Activities |
|
|
| Net Income (Loss) |
$ 18,092
|
$ (14,375)
|
| Adjustments to reconcile net income (loss) to net cash and cash equivalents from operating activities: |
|
|
| Depreciation and amortization |
2,360
|
2,067
|
| Loss on sale of property and equipment |
11
|
7
|
| (Gain) on extinguishment of debt |
|
(923)
|
| Stock compensation expense |
2,714
|
182
|
| Stock warrant issue |
|
16
|
| Deferred taxes |
(25)
|
118
|
| Warrant liabilities |
(51,233)
|
|
| Accrued interest on convertible notes payable to be paid in kind |
|
165
|
| Non-cash interest expense on convertible notes payable |
263
|
437
|
| Loss from change in fair value of embedded derivative liability |
2,680
|
2,817
|
| Changes in operating assets and liabilities that provided (used) cash and cash equivalents: |
|
|
| Contract receivables |
(552)
|
(248)
|
| Due from related party |
|
244
|
| Prepaid expenses and other current assets |
(3,865)
|
23
|
| Accounts payable |
778
|
(120)
|
| Deferred revenue |
462
|
(421)
|
| Accrued and other liabilities |
2,801
|
77
|
| Deferred rent |
74
|
(61)
|
| Net cash and cash equivalents used by operating activities |
(25,440)
|
(9,995)
|
| Cash Flows from Investing Activities |
|
|
| Purchases of property and equipment |
(12,617)
|
(1,020)
|
| Purchase of marketable securities |
(75,885)
|
|
| Purchases of intangible assets |
(381)
|
(40)
|
| Net cash and cash equivalents used by investing activities |
(88,883)
|
(1,060)
|
| Cash Flows from Financing Activities |
|
|
| Proceeds from debt |
960
|
923
|
| Proceeds from issuance of Series B preferred stock |
135,579
|
|
| Preferred Stock Issuance Costs |
(4,511)
|
|
| Payments of debt |
(3,557)
|
(676)
|
| Proceeds from issuance of convertible note payable |
4,875
|
5,125
|
| Proceeds from exercise of Common Stock options |
106
|
23
|
| Proceeds from exercise of Common Stock warrants |
15
|
|
| Business Combination, net of transaction costs |
495,370
|
|
| Redemption of preferred stock |
(6,041)
|
|
| Net cash and cash equivalents provided by financing activities |
622,796
|
5,395
|
| Net Increase (Decrease) in Cash and Cash Equivalents |
508,473
|
(5,660)
|
| Cash and Cash Equivalents - Beginning of year |
4,974
|
10,634
|
| Cash and Cash Equivalents - End of year |
513,447
|
4,974
|
| Supplemental Cash Flow Information |
|
|
| Supplemental Cash Flow Information - Cash paid for interest |
144
|
351
|
| Supplemental Cash Flow Information - (Gain) on extinguishment of PPP loan |
|
$ (923)
|
| Supplemental Cash Flow Information - Net Assets acquired in Business Combination |
$ (100,697)
|
|