Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

v3.23.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Operating activities    
Net loss $ (4,269) $ (14,917)
Adjustments to reconcile net loss to net cash used in operating activities:    
Amortization of debt discount and deferred financing costs 289 155
(Gain) loss on change in fair value of warrant liability (253) 213
Gain on sale of digital assets (3,214) (26)
Impairment of digital assets 50 9,353
Stock-based compensation 1,362 564
Other adjustments 357 (71)
Changes in operating assets and liabilities:    
Accounts receivable (245) (248)
Inventory 241 (2,063)
Prepaid expenses and other assets 261 (687)
Accounts payable 67 219
Accrued expenses (89) (1,489)
Lease liability payments (345) (173)
Deferred revenue (1,594) (1,001)
Net cash used in operating activities (7,382) (10,171)
Investing activities    
Proceeds received from sale of digital assets 10,790 0
Purchase of digital assets 0 (489)
Capital expenditures (6) (80)
Net cash provided by (used in) investing activities 10,784 (569)
Financing activities    
Payments on borrowings (4,270) (1,566)
Proceeds from exercise of options to purchase common stock 58 16
Payment for stock repurchase (475) 0
Net cash used in financing activities (4,687) (1,550)
Effect of exchange rate on cash 24 (32)
Net decrease in cash (1,261) (12,322)
Cash at the beginning of the period 1,955 23,137
Cash at the end of the period 694 10,815
Supplemental disclosure of cash flow information:    
Interest paid 434 204
Income taxes paid 0 0
Supplemental disclosures of non-cash financing activities:    
Issuance of common stock in connection with acquisition of Lyte Technology, Inc. 0 1,125
Issuance of common stock for payment of bonuses previously accrued $ 347 $ 0