Quarterly report [Sections 13 or 15(d)]

Condensed Consolidated Balance Sheets

v3.25.1
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 109,719 $ 112,974
Accounts receivable, net of allowance for credit losses of $264 and $166 as of March 31, 2025 and December 31, 2024, respectively 697 276
Digital currencies 82 103
Prepaid expenses and other current assets 588 406
Total current assets 111,086 113,759
Non-current assets:    
Property and equipment, net 20 24
Right-of-use asset 770 840
Other assets 158 158
Total non-current assets 948 1,022
Total assets 112,034 114,781
Current liabilities:    
Accounts payable 4,073 3,754
Accrued expenses 492 148
Deferred revenue 1,124 1,034
Lease liability 320 313
PhunCoin subscription payable 1,202 1,202
Total current liabilities 7,211 6,451
Deferred revenue 660 528
Lease liability 537 619
Total noncurrent liabilities 1,197 1,147
Total liabilities 8,408 7,598
Commitments and contingencies (see Note 7)
Stockholders' equity (deficit)    
Common stock, $0.0001 par value, 1,000,000,000 shares authorized; 20,180,875 shares issued and 20,170,745 share outstanding as of March 31, 2025 and 20,166,665 shares issued and 20,156,535 shares outstanding as of December 31, 2024 2 2
Treasury Stock (502) (502)
Additional paid-in capital 421,169 421,003
Accumulated deficit (317,043) (313,320)
Total stockholders' equity 103,626 107,183
Total liabilities and stockholders' equity $ 112,034 $ 114,781