Annual and transition report of foreign private issuers pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows

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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
OPERATING ACTIVITIES      
Net loss and comprehensive loss $ (14,858) $ (24,184) $ (41,907)
Items not involving current cash flows:      
Depreciation and amortization 699 283 33
Interest expense on lease liabilities 73 36
Stock-based compensation expense 4,036 1,097 1,651
(Gain) loss on change in fair value of warrants (15,708) 27,856 (19,801)
Accrued interest on Note payable 159 385
Other income (605)
Deferred income tax expense 56
Warrant liability-foreign exchange adjustment 43 95 17
Non-cash issue costs 764 745
Non-cash settlement included in payables 25 (2,262)
Changes in non-cash working capital balances      
Receivables (10,028)
Prepaid expenses and deposits (1,597) (544) 8,336
Accounts payable and accrued liabilities 1,088 (4,371) 4,965
Cash used in operating activities (36,617) (845) (45,961)
FINANCING ACTIVITIES      
Exercise of Derivative warrants 8,000
January 2021 Equity Offering, net of issuance costs 10,375
February 2021 Equity Offering, net of issuance costs 21,093
Exercise of Equity warrants 1,985
Exercise of stock options 14
Proceeds from issuance of common shares 2,709 24,689 35,767
Note payable 309 1,500
Repayment of lease obligations (276) (90) (5)
Cash provided by financing activities 44,209 26,099 35,762
INVESTING ACTIVITIES      
Purchase of property, plant and equipment (370) (280)
Purchase of patents (385) (319) (458)
Cash used in investing activities (755) (599) (458)
Increase (decrease) in cash during the year 6,837 24,655 (10,657)
Cash, beginning of the year 25,469 814 11,471
Cash, end of the year $ 32,306 $ 25,469 $ 814