Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.19.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Operating activities    
Net loss $ (3,494) $ (7,164)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation 16 15
Loss on sale of digital currencies 4
Bad debt expense 15
Amortization of acquired intangibles 75 109
Change in fair value of warrants 55
Impairment of digital currencies 313
Stock-based compensation 11 149
Changes in operating assets and liabilities:    
Accounts receivable 850 1,569
Prepaid expenses and other assets (34) (321)
Accounts payable (1,290) 1,656
Accrued expenses (87) (261)
Deferred revenue (182) 584
Net cash used in operating activities (4,116) (3,296)
Investing activities    
Proceeds received from sale of digital currencies 88
Payments for note receivable (201)
Net cash provided by (used in) investing activities 88 (201)
Financing activities    
Net (repayments) proceeds from factoring agreement (803) 763
Proceeds from common stock subscriptions, net of issuance costs 2,601
Proceeds from warrant exercises 5,731  
Proceeds from exercise of options to purchase common stock 35 25
Series A convertible preferred stock redemptions and dividend payments (6,240)
Net cash (used in) provided by financing activities (1,277) 3,389
Effect of exchange rate on cash and restricted cash 26 40
Net decrease in cash and restricted cash (5,279) (68)
Cash and restricted cash at the beginning of the period 844 308
Cash and restricted cash at the end of the period 1,065 240
Supplemental disclosure of cash flow information    
Interest paid 213 185
Proceeds due from transfer agent for warrant exercises $ 361