HELIUS MEDICAL TECHNOLOGIES INC
For the period ended Dec 31, 2023. Filed Mar 28, 2024.
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FY2023 · Filed Mar 28, 2024
HSDT$1.83-4.9%Stored close · as of Nov 10, 2026
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Item 8. CONSOLIDATED STATEMENTS OF CASH FLOWS
Consolidated Statements of Cash Flows
(in thousands)
| | | | | | | |
|---|---|---|---|---|---|---|
| · · Years Ended | ||||||
| · · December 31, | ||||||
| | 2023 | 2022 | ||||
| | | | | | | |
| Cash flows from operating activities: · · | ||||||
| Net loss | | $(8,850) | | $(14,072) | ||
| Adjustments to reconcile net loss to net cash used in operating activities: | | | ||||
| Change in fair value of derivative liability | | (2,966) | | (3,027) | ||
| Stock-based compensation expense | | 1,629 | | 2,254 | ||
| Common stock issued for services | | — | | 34 | ||
| Foreign exchange (gain) loss | | (286) | | 746 | ||
| Depreciation expense | | 45 | | 74 | ||
| Amortization expense | | 117 | | 181 | ||
| Goodwill and fixed asset impairment | | 159 | | | 757 | |
| Provision for (reversal of) inventory reserve | | (5) | | (2) | ||
| Non-cash operating lease expense | | 52 | | 51 | ||
| Changes in operating assets and liabilities: | | | | |||
| Accounts receivable | | (44) | | (9) | ||
| Other receivables | | (247) | | (94) | ||
| Inventory | | 137 | | (111) | ||
| Prepaid expense and other current assets | | 54 | | (354) | ||
| Operating lease liabilities | | (53) | | (44) | ||
| Accounts payable | | (103) | | (418) | ||
| Accrued and other current liabilities | | (20) | | (152) | ||
| Deferred revenue | | (35) | | (124) | ||
| Net cash used in operating activities | | (10,416) | | (14,310) | ||
| Cash flows from investing activities: | | | ||||
| Purchase of property and equipment | | (29) | | (17) | ||
| Proceeds from sale of property and equipment | | — | | 6 | ||
| Net cash used in investing activities | | (29) | | (11) | ||
| Cash flows from financing activities: | | | ||||
| Proceeds from issuance of common stock | | 500 | | 18,644 | ||
| Proceeds from exercise of warrants | | | 642 | | | — |
| Share issuance costs | | (65) | | (775) | ||
| Net cash provided by financing activities | | 1,077 | | 17,869 | ||
| Effect of currency exchange rate changes on cash and cash equivalents | | 1 | | (4) | ||
| Net increase (decrease) in cash and cash equivalents | | (9,367) | | 3,544 | ||
| Cash and cash equivalents at beginning of period | | 14,549 | | 11,005 | ||
| Cash and cash equivalents at end of period | | $5,182 | | $14,549 | ||
| Supplemental cash flow information | | | ||||
| Cash paid for interest (share issuance costs allocated to derivative liability) | | $— | | $927 | ||
| Non-cash investing and financing transactions: | | | ||||
| Right-of-use assets obtained in exchange for new lease liabilities | | $— | | $151 | ||
| Derivative warrant liability reclassified to equity on exercise of warrants | | $628 | | $— | ||
Helius Medical Technologies, Inc.
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