Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Cash flows from operating activities:    
Net loss $ (5,867,000) $ (4,457,000)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:    
Depreciation and amortization 1,408,000 1,216,000
Stock-based compensation 75,000 34,000
Amortization of debt issuance costs 84,000 64,000
Remeasurement of convertible preferred stock warrant liability 3,725,000 551,000
Changes in operating assets and liabilities:    
Accounts receivable (666,000) (2,417,000)
Prepaid expenses and other assets (201,000) 4,000
Accounts payable (307,000) 469,000
Accrued expenses and other current liabilities (216,000) 763,000
Deferred revenue 3,049,000 3,122,000
Net cash (used in) provided by operating activities 1,084,000 (651,000)
Cash flows from investing activities:    
Purchase of property and equipment (2,870,000) (2,149,000)
Investment in intangible and other assets (24,000) (19,000)
Net cash used in investing activities (2,894,000) (2,168,000)
Cash flows from financing activities:    
Proceeds from initial public offering, net of commissions and discounts 32,426,000  
Proceeds from notes payable 1,500,000  
Payment of debt issuance costs (30,000)  
Payments of offering costs (846,000)  
Proceeds from exercise of stock options 10,000 12,000
Net cash provided by financing activities 33,060,000 12,000
Increase (decrease) in cash and cash equivalents 31,250,000 (2,807,000)
Effect of exchange rate on cash and cash equivalents 5,000  
Cash and cash equivalents at beginning of year 3,865,000 4,124,000
Cash and cash equivalents at end of year 35,120,000 1,317,000
Supplemental cash flow disclosures:    
Cash paid for interest 721,000 $ 487,000
Supplemental disclosure of non-cash financing activities:    
Conversion of convertible preferred stock into common stock 42,075,000  
Reclassification of convertible preferred stock warrant liability into additional paid-in capital 5,711,000  
Issuance of warrants in connection with the issuance of notes payable to a financial institution 111,000  
Deferred offering costs included in accounts payable and accruals $ 986,000