v3.21.2
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Operating activities    
Net loss $ (20,656) $ (7,474)
Adjustments to reconcile net loss to net cash used in operating activities:    
Amortization of debt discount and deferred financing costs 2,770 227
Loss on change in fair value of warrant liability 222 0
Loss on extinguishment of debt 7,952 81
Impairment of digital currencies 776 0
Stock-based compensation 2,438 1,750
Other adjustments 142 79
Changes in operating assets and liabilities:    
Accounts receivable 237 815
Prepaid expenses and other assets (416) (193)
Accounts payable (1,282) 356
Accrued expenses (3,334) 877
Accrued legal settlement (1,500) 0
Lease liability payments (434) 0
Deferred revenue (1,286) (1,268)
Net cash used in operating activities (14,371) (4,750)
Investing activities    
Purchase of digital currencies (1,497) 0
Net cash used in investing activities (1,497) 0
Financing activities    
Proceeds from borrowings, net of issuance costs 9,981 5,436
Proceeds from related party bridge loans 0 560
Payments on senior convertible notes (25,095) (455)
Payments on related party notes 0 (200)
Net repayments on factoring agreement 0 (714)
Proceeds from exercise of options to purchase common stock 70 85
Proceeds from sales of common stock, net of issuance costs 29,670 0
Net cash provided by financing activities 14,626 4,712
Effect of exchange rate on cash and restricted cash 16 (79)
Net decrease in cash and restricted cash (1,226) (117)
Cash and restricted cash at the beginning of the period 4,031 362
Cash and restricted cash at the end of the period 2,805 245
Supplemental disclosure of cash flow information:    
Interest paid 1,287 328
Income taxes paid 0 0
Supplemental disclosures of non-cash financing activities:    
Proceeds not received related to sales of common stock 867 0
Issuance of common stock for payment of legal, earned bonus and board of director fees 66 1,014
Issuance of common stock upon partial conversions of Senior Convertible Note 0 2,266
Reacquisition of equity component of Senior Convertible Note 0 (1,299)
Equity classified cash conversion feature of Senior Convertible Notes $ 0 $ 219

Source