Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Operating activities    
Net loss $ (4,923) $ (10,793)
Net loss from discontinued operation (2,667)
Net loss from continuing operations (4,923) (8,126)
Adjustments to reconcile net loss to net cash used in operating activities:    
Gain on sale of digital assets (5,310)
Gain on extinguishment of debt (535)
Stock based compensation 1,290 2,824
Other adjustments 434 952
Changes in operating assets and liabilities:    
Accounts receivable (422) (28)
Prepaid expenses and other assets 81 19
Accounts payable and accrued expenses (3,158) (252)
Lease liability payments (373) (527)
Deferred revenue (422) (687)
Net cash used in operating activities from continued operations (8,028) (11,135)
Net cash used in operating activities from discontinued operation (177) (1,425)
Net cash used in operating activities (8,205) (12,560)
Investing activities    
Proceeds received from sale of digital currencies 15,390
Net cash provided by investing activities - continuing operations 15,390
Net cash used in investing activities - discontinued operations (9)
Net cash used in investing activities 15,381
Financing activities    
Payments on borrowings (4,270)
Proceeds from sales of common stock 24,640 995
Proceeds from exercise of options to purchase common stock 58
Payments on stock repurchases (502)
Net cash provided by (used in) financing activities 24,640 (3,719)
Effect of exchange rate on cash 48
Net increase (decrease) in cash 16,435 (850)
Cash at the beginning of the period 3,934 1,955
Cash at the end of the period 20,369 1,105
Supplemental disclosure of cash flow information    
Interest paid 12 438
Income taxes paid 40
Supplemental disclosures of non-cash financing activities:    
Issuance of common stock upon conversion of the 2022 Promissory Note 4,505
Issuance of common stock for payment of bonuses and consulting fees 35 347
Non-cash exchange of digital assets 557
Issuance of common stock under the 2018 Employee Stock Purchase Plan, previously accrued $ 47