Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.19.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Operating activities    
Net loss $ (9,803) $ (25,938)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation 62 154
Loss on sale of digital currencies 21
Bad debt expense 167 3,101
Amortization of acquired intangibles 372 1,284
Change in fair value of warrants 1,329
Impairment of digital currencies 334
Stock-based compensation 450 118
Deferred income taxes (387) (93)
Changes in operating assets and liabilities:    
Accounts receivable 2,439 (1,243)
Prepaid expenses and other assets 15 46
Accounts payable 4,156 (903)
Accrued expenses (5,789) 2,993
Deferred revenue 42 3,491
Net cash used by operating activities (6,592) (16,990)
Investing activities    
Proceeds received from sale of digital currencies 913
Payments for note receivable (536)
Capital expenditures (27)
Net cash used for investing activities 377 (27)
Financing activities    
Payment on capital lease obligation (83)
Net proceeds from factoring agreement 618 1,036
Proceeds from common stock, net of issuance costs 410
Proceeds from common stock subscriptions, net of issuance costs 5,448 3,243
Proceeds from exercise of options to purchase common stock 152 10
Proceeds from Series A preferred stock 500
Proceeds from Business Combination 98
Net cash provided for financing activities 6,816 4,616
Effect of exchange rate on cash (65) 80
Net (decrease) increase in cash 536 (12,321)
Cash at the beginning of the period 308 12,629
Cash at the end of the period 844 308
Supplemental disclosure of cash flow information    
Interest paid 712 381
Supplemental disclosure of non-cash information    
Common stock issuances from subscription payable 3,243
Warrants issued in conjunction with Business Combination $ 1,106