Post-effective amendment to a registration statement that is not immediately effective upon filing

CONSOLIDATED STATEMENTS OF CASH FLOWS

v3.22.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (93,063) $ (51,777)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation expense 2 2
Stock-based compensation 7,785 730
Warrant expense   5,383
Gain on extinguishment of debt (121)  
Change in fair value of warrant liabilities (1,692)  
Change in fair value of earnout cash liability (20,938)  
Change in fair value of embedded put   27
Amortization of debt discount   17
Non-cash interest expense 19 65
Non-cash settlement expense 21,366 39,486
Non-cash consulting expense 53,837  
Loss on common stock issued to settle accounts payable   42
Loss on conversion of notes payable   307
Changes in operating assets and liabilities:    
Accounts receivable 831 (831)
Prepaid expenses and other assets (4,809) (143)
Accounts payable (19) 1,183
Accrued expenses and other liabilities (901) 3,244
Net cash used in operating activities (37,703) (2,265)
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchase of computer equipment (7) (2)
Net cash used in investing activities (7) (2)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from notes payable   620
Proceeds from issuance of series B-2 preferred stock   50
Proceeds from issuance of common stock and exercise of stock options, net of transaction costs 9,624 2,579
Proceeds from issuance of common stock for exercise of warrant 16,699  
Proceeds from issuance of common stock and warrants issued in private placement, net of issuance costs 27,359  
Effect of Merger, net of transaction costs 11,050  
Repayment of notes payable assumed in Merger (1,100)  
Repayment of notes payable - related party (176)  
Net cash provided by financing activities 63,456 3,249
Net increase in cash 25,746 982
Cash at beginning of period 1,859 877
Cash at end of period 27,605 1,859
Non-cash investing and financing activities    
Reclassification of settlement liability upon issuance of warrant 60,852  
Issuance of common stock warrants as offering costs 1,027 31
Extinguishment of Paycheck Protection Program Loan $ 121  
Conversion of notes payable into common stock   3,655
Common stock issued to settle accounts payable   $ 145