Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

v3.21.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Operating activities    
Net loss $ (12,363) $ (3,963)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 33 49
Amortization of debt discount and deferred financing costs 1,642 13
Amortization of right-of-use asset 114 0
Loss on change in fair value of warrant liability 885 0
Impairment of right-of-use asset 77 0
Loss on extinguishment of debt 5,768 0
Bad debt recovery (234) (16)
Stock-based compensation 1,055 635
Changes in operating assets and liabilities:    
Accounts receivable (40) 783
Prepaid expenses and other assets (490) (108)
Accounts payable (682) 851
Accrued expenses (2,287) 643
Lease liability 64 0
Deferred revenue (841) (792)
Net cash used in operating activities (7,299) (1,905)
Investing activities    
Purchase of digital currencies (1,098) 0
Net cash provided by investing activities (1,098) 0
Financing activities    
Proceeds from borrowings, net of issuance costs 9,981 2,595
Proceeds from related party bridge loans 0 560
Payments on senior convertible notes (11,835) 0
Net repayments on factoring agreement 0 (627)
Proceeds from exercise of options to purchase common stock 65 15
Proceeds from sales of common stock, net of issuance costs 29,705 0
Net cash provided by (used in) financing activities 27,916 2,543
Effect of exchange rate on cash and restricted cash 10 (76)
Net increase (decrease) in cash and restricted cash 19,529 562
Cash and restricted cash at the beginning of the period 4,031 362
Cash and restricted cash at the end of the period 23,560 924
Supplemental disclosure of cash flow information:    
Interest paid 567 98
Income taxes paid 0 0
Supplemental disclosures of non-cash financing activities:    
Issuance of common stock for payment of legal and board of director fees 66 492
Equity classified cash conversion feature of Senior Convertible Note $ 0 $ 219