Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

v3.22.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Operating activities    
Net loss $ (14,917) $ (14,307)
Adjustments to reconcile net loss to net cash used in operating activities:    
Amortization of debt discount and deferred financing costs 155 1,642
Loss on change in fair value of warrant liability 213 2,829
Loss on extinguishment of debt 0 5,768
Impairment of digital assets 9,353 0
Stock-based compensation 564 1,055
Other adjustments (97) (10)
Changes in operating assets and liabilities:    
Accounts receivable (248) (40)
Inventory (2,063) 0
Prepaid expenses and other assets (687) (490)
Accounts payable 219 (682)
Accrued expenses (1,489) (2,287)
Lease liability payments (173) 64
Deferred revenue (1,001) (841)
Net cash used in operating activities (10,171) (7,299)
Investing activities    
Purchase of digital assets (489) (1,098)
Capital expenditures (80) 0
Net cash used in investing activities (569) (1,098)
Financing activities    
Proceeds from borrowings, net of issuance costs 0 9,981
Payments on borrowings (1,566) (11,835)
Proceeds from exercise of options to purchase common stock 16 65
Proceeds from sales of common stock, net of issuance costs 0 29,705
Net cash (used) provided by financing activities (1,550) 27,916
Effect of exchange rate on cash and restricted cash (32) 10
Net (decrease) increase in cash and restricted cash (12,322) 19,529
Cash and restricted cash at the beginning of the period 23,137 4,031
Cash and restricted cash at the end of the period 10,815 23,560
Supplemental disclosure of cash flow information:    
Interest paid 204 567
Income taxes paid 0 0
Supplemental disclosures of non-cash financing activities:    
Issuance of common stock in connection with acquisition of Lyte Technology, Inc. 1,125 0
Issuance of common stock for payment of board of director fees $ 0 $ 66