CorMedix Inc. CRMD Cash Flow

Cormedix inc. (CRMD)

CashFlow / Quarterly

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12
CASH FLOWS FROM OPERATING ACTIVITIES:
Net Loss
-5,557	-5,304	-5,264	-696	-5,167	2,148	-10,236	-8,556	-10,185	-10,310	-9,956	-5,146	-7,596	-6,399	-9,126	-4,999	-4,118	-3,866	-4,688	-4,135	-5,497	-2,214	-5,035	3,509	-16,713	-3,435	-2,499	-1,950	-1,247	-851	-1,016	-612	-898
Adjustments to reconcile net loss to net cash used in operating activities:
Stock-based compensation
676	453	570	606	809	19	360	358	373	394	414	397	452	414	192	398	329	316	921	960	1,026	226	166	360	1,415	591	321	449	-17	91	28	57	96
Value of warrants issued in connection with backstop financing
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-1,583	-	0	0	0	-	-	-	-	-	-	-	-
Loss on foreign currency transactions
-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	0	-	-	-	0	0	122	20	7	-	0	0	0	-	-	-	-
Stock issued in connection with license agreements
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	0	0
Stock issued in connection with consulting agreement
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	0	0
Warrants issued in connection with license agreement
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	76	0	-	-	-	-
Amortization of deferred financing costs
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	13	103	84	81	72	4	0	0
Amortization of debt discount
-	0	84	114	114	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	4	166	554	328	259	19	0	0
Non-cash interest expense
-	0	82	192	187	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Loss on issuance of preferred stock, convertible notes and warrants
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-
Non-cash charge for beneficial conversion feature
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	0	0
Non-cash interest expense
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	0	0
Inventory reserve
-	-	-	-	-	-	-	-	-	-	-	-	-	-36	0	143	22	125	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Loss on issuance of warrants and preferred stock
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	89	-	-	-	-	-	-	-	-
Loss on modification of equity instruments and extinguishment of derivative liabilities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-
Change in fair value of derivative liabilities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-586	5,419	-13,681	-409	45	0	0	-	-	-	-
Expenses paid on behalf of the Company satisfied through the issuance of notes
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	0	0
Depreciation
17	16	16	20	20	17	18	19	19	10	9	8	8	8	8	4	4	3	3	3	3	3	10	-1	2	3	0	0	0	1	1	1	1
Changes in operating assets and liabilities:
Increase in trade receivables
7	-	-	-	23	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Restricted cash
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	39	0	131	0	0	-220	0	0	220	0	0	-	-	-	-
Decrease in trade receivables
-	-	-	-	-	-299	308	-4	-57	-24	-61	69	63	-6	15	-332	15	198	10	42	-2	38	-5	41	11	2	0	0	0	-	-	-	-
Decrease in inventory
-47	-14	-19	-16	-8	87	-331	94	-15	167	-26	31	-71	12	-39	-32	-20	-197	-15	253	-1	-39	399	214	-16	-190	270	0	0	-	-	-	-
(Increase) decrease in prepaid expenses and other current assets
3,121	-88	133	136	-114	-180	420	-291	28	-953	-316	963	-563	-476	-435	-261	1,679	397	113	57	76	22	-59	-25	-10	204	16	-40	14	-46	-17	-51	-388
Security deposits
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	0	0
Increase (decrease) in accounts payable
309	-30	149	-556	-1,126	-5,292	576	3,648	1,849	399	-359	36	80	-110	649	-471	-130	286	282	-290	546	178	-108	-180	117	132	-509	124	262	130	-131	-430	416
Decrease in accrued expenses
-328	848	519	570	-2,302	-4,483	4,569	-4	916	1,489	745	58	-270	-	-	-	119	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Increase in accrued expenses
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-224	686	104	197	81	270	214	-44	-44	442	61	-11	-	-	-	-
Accrued interest, related parties
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-
Decrease in deferred revenue
-2	-2	-2	-2	-2	-1	-1	-1	-72	0	-17	-3	-4	-46	-2	-2	-2	121	-2	-2	-3	-3	47	-1	-0	-	-	-	-	-	-	-	-
Accrued expenses and accrued interest
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-133
Deferred rent
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-1	-1	-1	-1	-0	-0	-0	-0
Net cash used in operating activities
-7,966	-3,884	-3,964	164	-7,367	-7,200	-5,110	-4,335	-7,054	-7,277	-6,800	-7,751	-6,758	-6,498	-6,549	-3,767	-5,450	-3,635	-2,944	-3,598	-2,348	-1,574	-1,811	-1,506	-1,429	-923	-1,518	-559	-617	-528	-671	-946	-130
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of short-term investments
3,799	389	469	5,280	7,966	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Maturity of short-term investments
-4,794	-	-	-	-21	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Sale of short-term investments
-	-	-	-	-	0	0	0	1,604	5,192	7,887	5,344	5,160	-	-242	453	6,547	-	-10,221	-13,382	0	-	-	-	-	-	-	-	-	-	-	-	-
Purchase of equipment
9	9	4	3	19	0	10	-0	38	125	22	1	1	3	53	1	0	1	-0	0	12	-0	6	19	0	35	0	0	0	0	0	0	0
Net cash provided by (used in) investing activities
985	296	-477	-3,874	-7,964	0	-10	0	1,565	5,066	4,069	-3,936	5,158	4,715	-295	451	6,547	9	-10,221	-13,383	-12	0	-6	-19	0	-35	0	0	0	0	0	0	0
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from sale of common stock from at-the-market program, net
2,469	0	0	0	15,234	10,955	6,862	880	3,269	5,195	0	0	347	8	4,210	1,861	149	1,209	3,260	23,982	0	-	-	-	-	-	-	-	-	-	-	-	-
Repurchase of outstanding warrants
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	33	0	0	0	0
Proceeds from sale of common stock
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	0
Proceeds from notes payable to related parties
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-37	635	0	0
Proceeds from senior convertible note
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	383	215	0	0
Repayment of amounts loaned under related party notes
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	0	0
Proceeds from exchange agreement, related party
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	6,723	0	500	0	533	-	-	-	0
Proceeds from senior convertible notes, related party, net
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-
Proceeds from Series C-1 preferred stock, net
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-
Proceeds from Series C-2 preferred stock, related party, net
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-
Proceeds from Series C-3 preferred stock, net
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	743	0	0	0	0	-	-	-	-
Proceeds from Series C-3 preferred stock, related party
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	575	0	0	0	0	-	-	-	-
Proceeds from exercise of warrants
411	15	8,024	13	620	-	-	0	0	-	-	-	-	-	-	-	116	0	0	7,955	6,702	0	0	0	0	0	0	60	0	-	-	-	-
Proceeds from Galenica, Ltd. promissory note
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	0	0
Payments of financing fees
47	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	2	68	29	35	25	-24	80	15	0
Proceeds from exercise of stock options
-	5	4	0	112	11	0	0	0	0	0	0	6	-	-	-	-	0	40	326	125	8	95	0	213	2	0	0	0	-	-	-	-
Net cash provided by financing activities
2,834	-205	10,028	13	15,967	18,384	6,862	880	3,269	7,372	0	12,798	354	22	4,649	2,155	265	1,207	3,300	32,293	6,827	8	95	0	8,253	2,861	1,842	25	475	371	770	-15	0
Foreign exchange effect on cash
-2	4	-5	1	-2	-4	0	-5	1	4	5	8	0	-2	1	-3	4	-11	1	0	-6	-15	-10	-11	-8	-	-	-	-	-	-	-	-
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS
-4,149	-3,790	5,581	-3,695	633	11,179	1,741	-3,460	-2,217	5,167	-2,724	1,118	-1,245	-1,762	-2,194	-1,163	1,367	-2,429	-9,863	15,311	4,459	-1,580	-1,731	-1,537	6,815	1,890	324	-534	-142	-156	98	-961	-130
Cash paid for interest
6	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Supplemental Disclosure of Non-Cash Financing Activities:
Issuance of common stock for payment of deferred fees
-	-	-	-	-	0	0	0	173	0	0	0	10	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Conversion of notes payable and accrued interest to common stock, fair value
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	352	959	457	0	0	0	0	0
Exchange of convertible notes to preferred stock
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-
Conversion of preferred stock to common stock
-	0	0	0	0	-	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	2,447	69	533	0	0	-	-	-	-
Unrealized loss from investments
5	-	-	-	1	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Cash paid for interest
-	-	-	-	-	0	0	0	1	2	2	0	0	0	-0	0	0	1	1	0	0	0	0	0	0	24	36	29	26	0	0	0	0
Supplemental Disclosure of Non-Cash Financing and Investing Activities:
Unrealized loss from investments
-	-	-	-	-	-	-	-	0	-	2	0	10	-	-6	24	-0	-	-	-5	0	-	-	-	-	-	-	-	-	-	-	-	-
Issuance of common stock for vested restricted stock units
0	0	0	0	0	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Issuance of common stock for vested restricted stock units
-	-	-	-	-	-	-	-	-	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Reclassification of derivative liabilities to equity
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	0
Conversion of accounts payable and accrued expenses to preferred stock
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	645	-	0	0	0	-	-	-	-
Reclassification of derivative liability to equity
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	11,719	0	6,235	-	0	0	0	-	-	-	-
Conversion of wages and fees to common stock
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	31	18	54	37	5	0	-	-	-	-	-	-	-	-
Reclassification of deferred financing fees to additional paid-in capital
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-
Stock issued to technology finders and licensors
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	0	0
Warrants issued to placement agent
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	106	0	0	0
Debt discount on senior convertible notes
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	632	701	0	0
Dividends, including deemed dividends
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-33	-	-27	-27	-27	-	-53	0	-309	-	-	-	0
Accrued and unpaid deferred financing cost
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-3	52	0	-	65	0	0
Accrued private placement expenses
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-6	0	25	-	0	0	0