Quarterly report [Sections 13 or 15(d)]

Condensed Consolidated Statement of Cash Flows (Unaudited)

v3.26.1
Condensed Consolidated Statement of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended 12 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Dec. 31, 2025
Cash flows from operating activities:      
Net loss $ 6,340 $ 458  
Adjustments to reconcile net loss to net cash used in operating activities:      
Gain on sale of assets, net assets transferred (15,563)  
Depreciation and amortization 1,055  
Amortization of debt discount and issuance costs 43 41  
Stock-based compensation ($211 from continuing and $93 from discontinued operations for 2026 and all from discontinued operations for 2025-see Note 7) 304 290  
Loss on remeasurement of derivative liability 227  
Release of customer allowance liability (5,271)  
Investment income from DNA X LLC under the equity method (48)  
Other (97)  
Changes in operating assets and liabilities:      
Accounts receivable 250 (649)  
Non-trade receivable 667  
Inventory 5,490 2,255  
Prepaid expenses and other current assets 1,663 (127)  
Contract fulfilment assets 129 (2,548)  
Other assets (103) (3)  
Accounts payable (2,653) (5,554)  
Accrued liabilities (1,288) (218)  
Deferred tax assets 1,364  
Deferred tax liabilities 600  
Income tax payable (221) 95  
Net cash used in operating activities (3,466) (9,606)  
Cash flows from investing activities:      
Net cash received from sale of assets 3,358  
Net cash provided by investing activities 3,358  
Cash flows from financing activities:      
Proceeds from issuance of common stock, net of issuance costs 3,537  
Proceeds from promissory note, net of issuance costs 2,790  
Proceeds from short-term borrowings 51  
Net cash provided by financing activities 6,378  
Net decrease in cash and cash equivalents (108) (3,228)  
Cash and cash equivalents at beginning of period 1,303 5,343 $ 5,343
Cash and cash equivalents at end of period 1,195 2,115 $ 1,303
Supplemental disclosure of cash flow information:      
Cash paid for interest 257 20  
Cash paid for income taxes 12  
Supplemental disclosure of non-cash activities:      
Repayment of notes payable from proceeds of asset sale 5,476  
Receivable for cash held back from asset sale $ 1,500