Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.24.3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Operating activities        
Net loss $ (2,760) $ (18,979) $ (7,683) $ (29,772)
Net loss from discontinued operation (5,262) (7,929)
Net loss from continuing operations (2,760) (13,717) (7,683) (21,843)
Adjustments to reconcile net loss to net cash used in operating activities:        
Gain on sale of digital assets (5,310)
Gain (loss) on extinguishment of debt 237 (535) 237
Impairment of goodwill 9,043 9,043
Stock based compensation 242 838 1,532 3,662
Other adjustments     653 1,383
Changes in operating assets and liabilities:        
Accounts receivable     (561) (189)
Prepaid expenses and other assets     (2,759) 198
Accounts payable and accrued expenses     (457) (349)
Lease liability payments     (560) (761)
Deferred revenue     (43) (625)
Net cash used in operating activities from continued operations     (10,413) (14,554)
Net cash used in operating activities from discontinued operations     (177) (1,315)
Net cash used in operating activities     (10,590) (15,869)
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 operation     (7)
Net cash provided by investing activities     15,383
Financing activities        
Payments on borrowings     (5,056)
Proceeds from sales of common stock, net of issuance costs     42,193 6,879
Proceeds from exercise of options to purchase common stock     58
Payments on stock repurchases     (502)
Net cash provided by financing activities     42,193 1,379
Effect of exchange rate on cash     9
Net increase in cash and cash equivalents     31,603 902
Cash and cash equivalents at the beginning of the period     3,934 1,955
Cash and cash equivalents at the end of the period $ 35,537 2,857 35,537 2,857
Supplemental disclosure of cash flow information        
Interest paid     22 1,140
Income taxes paid     40
Supplemental disclosures of non-cash financing activities:        
Issuance of common stock upon conversion of the 2022 Promissory Note   $ 800 4,505 800
Issuance of common stock for payment of bonuses and consulting fees     35 379
Non-cash exchange of digital assets     557
Issuance of common stock under the 2018 Employee Stock Purchase Plan, previously accrued     $ 47