Annual report pursuant to Section 13 and 15(d)

Summary of Significant Accounting Policies (Tables)

v3.23.1
Summary of Significant Accounting Policies (Tables)
 12 Months Ended
Dec. 31, 2022
Accounting Policies [Abstract]  
Schedule of Changes in Deferred Commissions Changes in deferred commissions for the years ended December 31, 2022 and 2021 are as follows:
2022 2021
Balance, beginning of the year $ 148  $ 210 
Deferral of commissions earned 55  73 
Recognition of commission expense (67) (135)
Balance, end of the year $ 136  $ 148 
Schedule of Concentration Risk The following table sets forth our concentration of accounts receivable, net of specific allowances for doubtful accounts.
December 31,
2022 2021
Customer A 23  % —  %
Customer B 7  % 20  %
Customer C 5  % 18  %
Schedule of Accounts Receivable Accounts receivable consisted of the following:
December 31,
2022 2021
Accounts receivable $ 1,156  $ 977 
Less allowances for doubtful accounts (198) (10)
Accounts receivable, net $ 958  $ 967 
Changes in Allowance for Doubtful Accounts Changes in the allowance for doubtful accounts are as follows:

December 31,
2022 2021
Balance, beginning of year $ 10  $ 356 
Provision for doubtful accounts, net of recoveries 198  (286)
Write offs (10) (60)
Balance, end of year $ 198  $ 10 
Schedule of Digital Assets
The following table sets forth our digital asset holdings as of December 31, 2022:
Asset Gross Carrying Amount Accumulated Digital Asset Impairment Digital Asset Carrying
Value
Bitcoin $ 34,994  $ (25,534) $ 9,460 
Ether 1,506  (1,156) 350 
Other 1,237  (910) 327 
Total $ 37,737  $ (27,600) $ 10,137 
    
The following table sets forth our digital asset holdings as of December 31, 2021:
Asset Gross Carrying Amount Accumulated Digital Asset Impairment Digital Asset Carrying
Value
Bitcoin $ 36,963  $ (8,554) $ 28,409 
Ethereum 4,714  (670) 4,044 
Other 287  (159) 128 
Total $ 41,964  $ (9,383) $ 32,581 
Gross carrying amount and accumulated digital asset impairment noted above represent carrying amount and impairment, respectively, on the remaining cost lots as of the respective dates. Changes in our digital asset holdings for the year ended December 31, 2022 were as follows:
Bitcoin Ethereum Other Total
Net balance at December 31, 2021 $ 28,409  $ 4,044  $ 128  $ 32,581 
Received from customers, net of expenses 37  378  44  459 
Purchases of digital assets 923  —  —  923 
Exchanges of digital assets —  (906) 906  — 
Disposal proceeds (796) (486) —  (1,282)
Gain on sale of digital assets 69  298  —  367 
Impairment expense (19,182) (2,978) (751) (22,911)
Net balance at December 31, 2022 $ 9,460  $ 350  $ 327  $ 10,137 
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share The following table sets forth common stock equivalents that have been excluded from the computation of dilutive weighted average shares outstanding as their inclusion would have been anti-dilutive:
December 31,
2022 2021
Warrants 6,632,561  5,636,801 
Options 961,779  925,467 
Restricted stock units 2,957,995  3,576,270 
Total 10,552,335 10,138,538
Financial Instruments Measured at Fair Value Our assets and liabilities measured at fair value on a recurring basis as of December 31, 2022 are set forth below:
Level 1 Level 2 Level 3 Total
Liabilities:
Warrant liability $ —  $ 256  $ —  $ 256 
Total $ —  $ 256  $ —  $ 256 
    Our assets and liabilities measured at fair value on a recurring basis as of December 31, 2021 are set forth below:
Level 1 Level 2 Level 3 Total
Liabilities:
Warrant liability $ —  $ 3,605  $ —  $ 3,605 
Total $ —  $ 3,605  $ —  $ 3,605