v3.20.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Operating activities    
Net loss $ (7,474) $ (6,561)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 9 30
Amortization of acquired intangibles 78 143
Amortization of debt discount and deferred financing costs 227 0
Loss on sale of digital currencies 0 4
Loss on extinguishment of debt 81 0
Non-cash interest expense 55 0
Bad debt (recovery) expense (63) 132
Stock-based compensation 1,750 427
Changes in operating assets and liabilities:    
Accounts receivable 815 (71)
Prepaid expenses and other assets (193) (99)
Accounts payable 356 (807)
Accrued expenses 877 330
Deferred revenue (1,268) 606
Net cash used in operating activities (4,750) (5,866)
Investing activities    
Proceeds received from sale of digital currencies 0 88
Net cash provided by investing activities 0 88
Financing activities    
Proceeds from borrowings, net of issuance costs 5,436 250
Proceeds from related party bridge loans 560 0
Payments on senior convertible note (455) 0
Payments on related party notes (200) 0
Net repayments on factoring agreement (714) (659)
Proceeds from PhunCoin deposits 0 191
Proceeds from warrant exercises 0 6,092
Proceeds from exercise of options to purchase common stock 85 52
Series A convertible preferred stock redemptions and dividend payments 0 (6,240)
Net cash provided by (used in) financing activities 4,712 (314)
Effect of exchange rate on cash and restricted cash (79) (4)
Net increase (decrease) in cash and restricted cash (117) (6,096)
Cash and restricted cash at the beginning of the period 362 6,344
Cash and restricted cash at the end of the period 245 248
Supplemental disclosure of cash flow information:    
Interest paid 328 361
Income taxes paid 0 0
Supplemental disclosures of non-cash financing activities:    
Issuance of common stock for payment of legal, earned bonus and board of director fees 1,014 0
Issuance of common stock upon partial conversions of Senior Convertible Note 2,266 0
Reacquisition of equity component of Senior Convertible Note (1,299) 0
Equity classified cash conversion feature of Senior Convertible Notes $ 219 $ 0

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