Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
1 Months Ended 3 Months Ended 4 Months Ended
May 07, 2019
Dec. 31, 2018
Dec. 31, 2017
Mar. 31, 2019
Feb. 28, 2018
Mar. 31, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:            
Net loss   $ (2,907) $ (2,056) $ (8,450) $ (5,477)  
Adjustments required to reconcile net loss to net cash used in operating activities:            
Stock-based compensation   734   1,073 1,090  
Stock based compensation to First Choice   0   2,641 0  
Capital gain, net   0   (4) 0  
Share in income of associated company   0   0 (46)  
Depreciation and amortization expenses   265   938 637  
Change in fair value of embedded derivatives   0   0 117  
Net changes in operating leases   0   (1,247) 0  
Interest expenses accrued on loans and convertible loans (including amortization of beneficial conversion feature)   12   5 2,447  
Changes in operating assets and liabilities:            
Decrease (increase) in accounts receivable   951   (2,870) 175  
Decrease (increase) in inventory   89   (366) (134)  
Decrease in other assets   (3)   0 0  
Increase (decrease) in related parties, net   0   88 (18)  
Decrease (Increase) in prepaid expenses and other accounts receivable   (213)   134 (567)  
Increase (decrease) in accounts payable   743   980 (263)  
Increase (decrease) in accrued expenses and other payables   (421)   32 (27)  
Increase (decrease) in employee and related payables   45   46 (668)  
Increase (decrease) in contract liabilities   (181)   2,470 1,140  
Increase (decrease) in advance payments and receivables on account of grant, net   (133)   68 (101)  
Decrease in deferred taxes   (58)   (49) (396)  
Net cash used in operating activities   (1,077)   (4,511) (2,091)  
CASH FLOWS FROM INVESTING ACTIVITIES:            
Increase in loan to JV with a related party   0   (1,000) 0  
Sale of property and equipment   0   81 0  
Purchase of property and equipment   (535)   (1,038) (553)  
Investments in associate   0   0 (345)  
Investment in short term deposits   (57)   (406) 0  
Net cash used in investing activities   (592)   (2,363) (898)  
CASH FLOWS FROM FINANCING ACTIVITIES:            
Increase in redeemable non-controlling interests received from GPP   0   6,600 0  
Proceeds from issuance of shares and warrants (net of transaction costs)   0   0 3,082  
Proceeds from issuance of convertible loans (net of transaction costs) $ 500 250   0 720 $ 250
Repayment of convertible loans and convertible bonds   0   0 (177)  
Repayment of short and long-term debt   (53)   (92) (85)  
Grants received   0   89 0  
Other financing activities   0   5 0  
Net cash provided by financing activities   197   6,602 3,540  
NET CHANGE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH   (1,472)   (272) 551  
EFFECT OF EXCHANGE RATE CHANGES ON CASH, CASH EQUIVALENTS AND RESTRICTED CASH   15   35 155  
CASH, CASH EQUIVALENTS AND RESTRICTED CASH AT BEGINNING OF PERIOD $ 14,762 16,456 $ 3,519 14,999 3,519 16,456
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH AT END OF PERIOD   14,999   14,762 4,225 $ 14,762
SUPPLEMENTAL NON-CASH FINANCING ACTIVITIES            
Conversion of loans and bonds (including accrued interest) to common stock and warrants   $ 0   $ 0 $ 5,868