June 30, 2022

December 31, 2021

Assets

Current assets:

Cash and cash equivalents

$

21,234

$

28,685

Accounts receivable, net of allowance for doubtful accounts of $89 and $76
   as of June 30, 2022 and December 31, 2021, respectively

3,854

1,370

Inventories, net — current

3,275

4,433

Assets held for sale

254

—

Prepaid expenses and other current assets

1,441

900

Total current assets

30,058

35,388

Property and equipment, net

954

2,291

Right of use asset

2,308

3,081

Inventories, net — noncurrent

1,136

2,494

Intangible assets, net

386

484

Other noncurrent assets

166

180

Total assets

$

35,008

$

43,918

Liabilities and stockholders’ equity

Current liabilities:

Accounts payable and accrued expenses

$

3,391

$

3,638

Amounts due to related parties

83

64

Operating lease liability — current

994

1,074

Other current liabilities

272

264

Total current liabilities

4,740

5,040

Operating lease liability — noncurrent

1,500

2,220

Common stock warrant liabilities

—

3,392

Other noncurrent liabilities

2,000

2,070

Total liabilities

8,240

12,722

Commitments and contingencies (Note 15)

Stockholders’ equity:

Common stock, $0.001 par value—150,000,000 shares authorized as
   of June 30, 2022 and December 31, 2021; 22,188,918
   and 22,184,235 shares issued and outstanding as of June 30,
   2022 and December 31, 2021, respectively

63

63

Additional paid-in capital

277,492

257,515

Accumulated deficit

(250,748

)

(226,485

)

Total stockholders’ equity

26,807

31,093

Non-controlling interest

(39

)

103

Total stockholders' equity

26,768

31,196

Total liabilities and stockholders’ equity

$

35,008

$

43,918

Three Months Ended June 30,

Six Months Ended June 30,

2022

2021

2022

2021

Revenues:

Product

$

2,946

$

1,379

$

6,116

$

2,183

Royalty

50

26

100

51

License

862

—

862

—

Total revenues

3,858

1,405

7,078

2,234

Operating expenses (income):

Cost of revenues

3,447

1,587

6,906

2,443

Research and development

359

1,131

754

2,290

Gain on sale of Verdeca

(1,138

)

—

(1,138

)

—

Impairment of intangible assets

72

—

72

—

Change in fair value of contingent consideration

(39

)

—

(70

)

(140

)

Impairment of property and equipment

346

—

346

210

Gain on sale of property and equipment

(58

)

—

(386

)

—

Selling, general and administrative

4,652

6,370

9,000

10,439

Total operating expenses

7,641

9,088

15,484

15,243

Loss from operations

(3,783

)

(7,682

)

(8,406

)

(13,009

)

Interest income (expense)

30

(1

)

29

(8

)

Other (expense) income, net

(44

)

2,759

(3

)

10,222

Change in fair value of common stock warrant liabilities

—

(498

)

—

(176

)

Issuance and offering costs

—

—

(27

)

(769

)

Net loss before income taxes

(3,797

)

(5,422

)

(8,407

)

(3,740

)

Income tax provision

—

—

—

—

Net loss

(3,797

)

(5,422

)

(8,407

)

(3,740

)

Net loss attributable to non-controlling interest

(20

)

(161

)

(142

)

(538

)

Net loss attributable to common stockholders

$

(3,777

)

$

(5,261

)

$

(8,265

)

$

(3,202

)

Net loss per share attributable to common stockholders:

Basic and diluted

$

(0.17

)

$

(0.24

)

$

(0.37

)

$

(0.15

)

Weighted-average number of shares used in per share
   calculations:

Basic and diluted

22,188,918

21,745,403

22,187,961

21,271,960

Other comprehensive loss, net of tax

Foreign currency translation adjustment

—

(12

)

—

(12

)

Other comprehensive loss

—

(12

)

—

(12

)

Comprehensive loss attributable to common stockholders

$

(3,777

)

$

(5,273

)

$

(8,265

)

$

(3,214

)

Six Months Ended June 30,

2022

2021

CASH FLOWS FROM OPERATING ACTIVITIES:

Net loss

$

(8,407

)

$

(3,740

)

Adjustments to reconcile net loss to cash used in operating activities:

Change in fair value of common stock warrant liabilities

—

176

Change in fair value of contingent consideration

(70

)

(140

)

Issuance and offering costs

—

769

Depreciation

277

484

Amortization of intangible assets

26

48

Lease amortization

420

639

Impairment of intangible assets

72

—

(Gain) loss on disposal of property and equipment

(386

)

135

Stock-based compensation

583

681

Bad debt expense

37

—

Realized gain on corporate securities

—

(10,222

)

Impairment of property and equipment

346

210

Write-down of inventories

1,515

983

Changes in operating assets and liabilities:

—

—

Accounts receivable

(2,471

)

259

Inventories

1,001

(633

)

Prepaid expenses and other current assets

(541

)

(938

)

Other noncurrent assets

15

(153

)

Accounts payable and accrued expenses

(247

)

1,083

Amounts due to related parties

19

(47

)

Unearned revenue

—

56

Other current liabilities

8

1

Other noncurrent liabilities

(1

)

(1

)

Operating lease payments

(446

)

(590

)

Net cash used in operating activities

(8,250

)

(10,940

)

CASH FLOWS FROM INVESTING ACTIVITIES:

Proceeds from sale of property and equipment

841

—

Purchases of property and equipment

(46

)

(713

)

Acquisitions, net of cash acquired

—

(4,250

)

Proceeds from sales and maturities of investments

—

21,845

Net cash provided by (used in) investing activities

795

16,882

CASH FLOWS FROM FINANCING ACTIVITIES:

Proceeds from issuance of common stock and warrants from
   January 2021 PIPE securities purchase agreement

—

25,147

Payments of offering costs relating to January 2021 PIPE
   securities purchase agreement

—

(1,912

)

Principal payments on debt

—

(2,019

)

Proceeds from ESPP purchases

4

27

Capital contributions received from non-controlling interest

—

750

Net cash provided by financing activities

4

21,993

Effects of foreign currency translation on cash and cash equivalents

—

(1

)

Net (decrease) increase in cash and cash equivalents

(7,451

)

27,934

Cash and cash equivalents — beginning of period

28,685

16,043

Cash and cash equivalents — end of period

$

21,234

$

43,977

SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:

Cash paid for income taxes

$

—

$

1

Cash paid for interest

$

1

$

21

NONCASH INVESTING AND FINANCING ACTIVITIES:

Shares of common stock issued at closing of Arcadia Wellness transaction

$

—

$

2,053

Common stock warrant liabilities reclassified to equity upon adoption of ASU 2020-06

$

3,392

$

—

Common stock warrants issued to placement agent and included in offering
   costs related to January 2021 PIPE securities purchase agreement

$

—

$

942

Right of use assets obtained in exchange for new operating lease liabilities

$

—

$

913

Proceeds from sale of property and equipment in accounts receivable

$

51

$

—

Purchases of property and equipment included in accounts payable and accrued expenses

$

—

$

58