Annual report [Section 13 and 15(d), not S-K Item 405]

Consolidated Statements of Cash Flows

v3.25.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Operating activities    
Net loss $ (10,316) $ (52,785)
Net loss from discontinued operation (10,841)
Net loss from continuing operations (10,316) (41,944)
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 (535) 237
Non-cash writeoff of accounts payable (1,403)
Impairment of goodwill 25,819
Stock based compensation 1,656 4,071
Other adjustments 1,219 2,046
Changes in operating assets and liabilities:    
Accounts receivable 130 235
Prepaid expenses and other assets 86 283
Accounts payable and accrued expenses (2,933) (688)
Lease liability payments (682) (959)
Deferred revenue (347) (896)
Net cash used in operating activities from continued operations (13,125) (17,106)
Net cash used in operating activities from discontinued operations (177) (1,329)
Net cash used in operating activities (13,302) (18,435)
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 (8)
Net cash provided by investing activities   15,382
Financing activities    
Payments on borrowings (5,057)
Proceeds from sales of common stock, net of issuance costs 122,342 10,476
Proceeds from exercise of options to purchase common stock 58
Payments on stock repurchases (502)
Net cash provided by financing activities 122,342 4,975
Effect of exchange rate on cash 57
Net increase in cash and cash equivalents 109,040 1,979
Cash and cash equivalents at the beginning of the period 3,934 1,955
Cash and cash equivalents at the end of the period 112,974 3,934
Supplemental disclosure of cash flow information    
Interest paid 31 1,215
Income taxes paid 14
Supplemental disclosures of non-cash financing activities:    
Issuance of common stock upon conversion of the 2022 Promissory Note 4,505 1,800
Issuance of common stock for payment of bonuses and consulting fees 35 434
Non-cash exchange of digital assets 557
Issuance of common stock under the 2018 Employee Stock Purchase Plan, previously accrued $ 48