v3.21.2
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Operating activities    
Net loss $ (21,711) $ (16,041)
Adjustments to reconcile net loss to net cash used in operating activities:    
Amortization of debt discount and deferred financing costs 2,770 1,217
Loss (gain) on change in fair value of warrant liability 148 (1,244)
Loss on extinguishment of debt 7,952 1,031
Impairment of digital currencies 776 0
Gain on forgiveness of PPP loan (2,850) 0
Stock-based compensation 3,933 3,458
Other adjustments 297 145
Changes in operating assets and liabilities:    
Accounts receivable (272) 551
Prepaid expenses and other assets (345) (94)
Accounts payable (1,236) 536
Accrued expenses (2,891) 1,332
Accrued legal settlement (3,000) 4,500
Lease liability payments (662) 0
Deferred revenue (1,998) (1,906)
Net cash used in operating activities (19,089) (6,515)
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 9,980 10,207
Proceeds from related party bridge loans 0 560
Payments on senior convertible notes (25,116) (3,948)
Payments on related party notes 0 (200)
Net repayments on factoring agreement 0 (638)
Proceeds from exercise of options to purchase common stock 73 95
Proceeds from sales of common stock, net of issuance costs 32,610 1,341
Net cash provided by financing activities 17,547 7,417
Effect of exchange rate on cash and restricted cash (19) (30)
Net (decrease) increase in cash and restricted cash (3,058) 872
Cash and restricted cash at the beginning of the period 4,031 362
Cash and restricted cash at the end of the period 973 1,234
Supplemental disclosure of cash flow information:    
Interest paid 1,315 681
Income taxes paid 0 0
Supplemental disclosures of non-cash financing activities:    
Proceeds not yet received for sales of common stock 97 0
Issuance of common stock for payment of legal, earned bonus and board of director fees 66 1,239
Issuance of common stock upon partial conversions of senior convertible note 0 2,266
Reacquisition of equity component of senior convertible note 0 (1,388)
Equity classified cash conversion feature of Senior Convertible Notes $ 0 $ 219

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