Allarity Therapeutics Inc
For the period ended Dec 31, 2023. Filed Mar 8, 2024.
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FY2023 · Filed Mar 8, 2024
ALLR$0.91-3.5%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
For the years ended December 31, 2023 and 2022
(U.S. dollars in thousands)*
| 2023 | 2022 | |
|---|---|---|
| CASH FLOWS FROM OPERATING ACTIVITIES: | ||
| Net loss | $(11,901) | $(16,058) |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Gain from the sale of IP | — | (1,780) |
| Depreciation and amortization | 37 | 60 |
| Intangible asset impairment | — | 17,571 |
| Stock-based compensation | (71) | 1,752 |
| Unrealized foreign exchange (gain) loss | (179) | 450 |
| Non-cash interest expense | 464 | 138 |
| Non-cash finance expense | 1,110 | — |
| Fair value of inducement warrants | 4,189 | — |
| Loss on modification of warrants | 591 | — |
| Loss on investment | — | 115 |
| Change in fair value of warrant derivative liabilities | (10,434) | (17,125) |
| Deferred income taxes | 97 | (1,612) |
| Changes in operating assets and liabilities: | ||
| Other current assets | 1,350 | (1,077) |
| Tax credit receivable | (26) | — |
| Prepaid expenses | (190) | (618) |
| Accounts payable | 2,165 | 6,207 |
| Accrued liabilities | 43 | (4,722) |
| Income taxes payable | 18 | (19) |
| Operating lease liability | (8) | (99) |
| Net cash used in operating activities | (12,745) | (16,817) |
| CASH FLOWS FROM INVESTING ACTIVITIES: | ||
| Proceeds from the sale of IP | — | 809 |
| Purchase of property and equipment | — | (18) |
| Net cash provided by investing activities | — | 791 |
| CASH FLOWS FROM FINANCING ACTIVITIES: | ||
| Proceeds from Series C Convertible Preferred Stock issuance, net | 1,160 | — |
| Proceeds from 3i promissory notes | 1,050 | 1,000 |
| Repayment of 3i debt | (3,699) | — |
| Net proceeds from common stock and pre-funded warrant issuance | 16,895 | — |
| Net proceeds from warrants exercised in conjunction with price & warrant inducement | 2,243 | — |
| Redemption of Series A Preferred Stock | (6,652) | — |
| Redemption of Series B Preferred Stock | (2) | — |
| Cash paid in connection with conversion of Series A Preferred Stock | — | (1,511) |
| Penalty on Series A Preferred Stock liability | — | (800) |
| Net cash provided by (used in) financing activities | 10,995 | (1,311) |
| Net decrease in cash | (1,750) | (17,337) |
| Effect of exchange rate changes on cash | (113) | (189) |
| Cash, beginning of year | 2,029 | 19,555 |
| Cash, end of year | $166 | $2,029 |
| * | All common share data has been retroactively adjusted to effect reverse stock splits in 2023 (see Notes 1 and 10.) |
|---|
(U.S. dollars in thousands)
| 2023 | 2022 | |
|---|---|---|
| Supplemental disclosure of cash flow information | ||
| Cash paid for income taxes | $6 | $12 |
| Cash paid for interest | $34 | $85 |
| Supplemental disclosure of non-cash investing and financing activities: | ||
| Offset of payable against receivable from sale of IP | $— | $971 |
| Conversion of Series A Redeemable Preferred Stock to equity | $3,899 | $1,157 |
| Issuance of Series A Preferred Stock in Exchange for Series C Preferred Stock | $5,199 | $— |
| Issuance of Series A Preferred Stock to extinguish 3i Promissory Note | $453 | $— |
| Redemption of Series A Preferred Stock as repayment of debt | $1,445 | — |
| Deemed dividends on Series A Preferred Stock | $8,392 | $1,572 |
| Deemed dividend on Series C Convertible Preferred Stock, and accretion of Series C Preferred Stock to redemption value | $123 | — |
| Cashless exercise of 3i LP Exchange Warrants in exchange for common stock | $1,031 | $— |
| Deemed dividend on redemption of Series B Preferred Stock | $— | $2 |
| Conversion of floor price liability to convertible debt | $— | $1,667 |
| Reclassification of derivative liabilities related to converted Preferred Stock | $— | $954 |
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