Nuo Therapeutics Inc
For the period ended Dec 31, 2023. Filed Apr 19, 2024.
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FY2023 · Filed Apr 19, 2024
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Item 8. Consolidated Statements of Cash Flows
Consolidated Statements of Cash Flows
| Year ended December 31, | ||||
|---|---|---|---|---|
| 2023 · 2022 | ||||
| CASH FLOWS FROM OPERATING ACTIVITIES | ||||
| Net loss | $(3,171,436) | $(3,171,736) | ||
| Adjustments to reconcile net loss to net cash used in operating activities: | ||||
| Stock-based compensation | 21,746 | 9,145 | ||
| Provision for credit losses | 160,000 | - | ||
| Write-off of expired inventory | 16,074 | - | ||
| Gain on settlement of accounts payable | - | (146,438) | ||
| Depreciation of property and equipment | 15,327 | 6,827 | ||
| Amortization of operating lease right of use assets | 89,931 | 67,255 | ||
| Changes in operating assets and liabilities: | ||||
| Accounts receivable, net | (318,383) | (92,320) | ||
| Inventory, net | 14,343 | (240,005) | ||
| Prepaid expenses and other current assets | 21,907 | (145,029) | ||
| Accounts payable | (3,185) | 17,584 | ||
| Accrued liabilities | 65,347 | 80,086 | ||
| Operating lease liabilities | (79,452) | (91,494) | ||
| Net cash used in operating activities | (3,167,782) | (3,706,126) | ||
| CASH FLOWS FROM INVESTING ACTIVITIES | ||||
| Purchases of property and equipment | (7,244) | (59,992) | ||
| Net cash used in investing activities | (7,244) | (59,992) | ||
| CASH FLOWS FROM FINANCING ACTIVITIES | ||||
| Net proceeds from issuance of common stock, participation right, and contingent warrant | 1,997,500 | 4,457,757 | ||
| Net cash provided by financing activities | 1,997,500 | 4,457,757 | ||
| NET INCREASE IN CASH AND CASH EQUIVALENTS | (1,177,527) | 691,639 | ||
| Cash and cash equivalents, beginning of period | 2,106,208 | 1,414,569 | ||
| Cash and cash equivalents, end of period | $928,681 | $2,106,208 | ||
| RECONCILIATION OF CASH, CASH EQUIVALENTS, AND RESTRICTED CASH | ||||
| Cash and cash equivalents | $2,051,208 | $1,414,569 | ||
| Restricted cash | 55,000 | - | ||
| Cash, cash equivalents, and restricted cash, beginning of period | $2,106,208 | $1,414,569 | ||
| Cash and cash equivalents | $928,681 | $2,051,208 | ||
| Restricted cash | - | 55,000 | ||
| Cash, cash equivalents, and restricted cash, end of period | $928,681 | $2,106,208 | ||
| SUPPLEMENTAL INFORMATION | ||||
| Cash paid during the period for: | ||||
| Income taxes | $ | - | $ | - |
| Interest | $4,003 | $2,268 | ||
| NON-CASH INVESTING AND FINANCING TRANSACTIONS | ||||
| Issuance of options to settle accrued compensation liabilities | $ | - | $103,333 | |
| ROU assets and lease liabilities established at inception of lease | $ | - | $426,538 | |
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