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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Operating activities:    
Net income (loss) $ 757 $ (1,393)
Adjustments to reconcile net income (loss) to net cash used in operating activities:    
Depreciation and amortization 206 225
Operating lease right-of-use amortization 176 168
Finance lease right-of-use amortization   4
Stock-based compensation 1,223 2
Provision for credit losses 247  
Gain on extinguishment of liability (14,636)  
Change in valuation of convertible promissory notes 1,203 (549)
Change in valuation of warrant liabilities 4,626  
Changes in operating assets and liabilities:    
Accounts receivable (501) 2,144
Inventory (298) (651)
Contract assets (874) (1,769)
Prepaid expenses and other current assets (2,292) 102
Other assets 24 35
Accounts payable (2,713) 133
Contract liabilities (13) (650)
Accrued and other current liabilities (1,067) 1,048
Net defined benefit liabilities 109 186
Income tax payable (83)  
Lease liabilities (177) (170)
Other liabilities (330) (345)
Net cash used in operating activities (14,413) (1,480)
Investing activities:    
Purchases of property and equipment   (118)
Net cash used in investing activities   (118)
Financing activities:    
Proceeds from exercise of stock options   1
Proceeds from bank borrowings   582
Proceeds from issuance of convertible promissory notes 16,290  
Proceeds from reverse recapitalization and PIPE Financing, net of transaction costs 17,238  
Repayment of bank borrowings (3,254) (31)
Net cash provided by financing activities 30,274 552
Effect of exchange rate changes on cash and cash equivalents 3 (52)
Net increase (decrease) in cash and cash equivalents 15,864 (1,098)
Cash and cash equivalents at beginning of year 258 1,398
Cash and cash equivalents cash at end of year 16,122 300
Supplemental disclosure of cash flow information:    
Cash paid for interest 1,183 368
Cash paid for income taxes 3 3
Cash paid for amounts included in the measurement of operating leases 192 $ 195
Issuance of common stock from conversion of convertible promissory notes and accrued interest $ 41,209