Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v3.22.1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2021
Dec. 31, 2020
Current assets:    
Cash $ 23,137 $ 3,940
Accounts receivable, net of allowance for doubtful accounts of $10 and $356 at December 31, 2021 and 2020, respectively 967 664
Inventory 2,636 0
Digital assets 32,581 0
Prepaid expenses and other current assets 686 304
Total current assets 60,007 4,908
Property and equipment, net 0 13
Goodwill 33,260 25,900
Intangible assets, net 3,213 111
Deferred tax asset 1,278 537
Restricted cash 0 91
Right-of-use asset 1,260 0
Other assets 276 276
Total assets 99,294 31,836
Current liabilities:    
Accounts payable 6,589 8,462
Accrued expenses 9,621 5,353
Accrued legal settlement 0 3,000
Lease liability 399 0
Deferred revenue 3,973 2,397
PhunCoin deposits 1,202 1,202
Current maturities of long-term debt, net 4,904 4,435
Warrant liability 3,605 1,614
Total current liabilities 30,293 26,463
Long-term debt 0 3,762
Long-term debt - related party 0 195
Deferred tax liability 1,278 537
Deferred revenue 1,299 2,678
Lease liability 1,147 0
Deferred rent 0 180
Total liabilities 34,017 33,815
Commitments and contingencies (Note 11)
Stockholders’ equity (deficit)    
Common stock, $0.0001 par value; 1,000,000,000 shares authorized at December 31, 2021 and 2020; 96,751,610 and 56,371,207 shares issued and outstanding as of December 31, 2021 and 2020, respectively 10 6
Additional paid-in capital 264,944 144,156
Accumulated other comprehensive loss (352) (338)
Accumulated deficit (199,325) (145,803)
Total stockholders’ equity (deficit) 65,277 (1,979)
Total liabilities and stockholders’ equity (deficit) $ 99,294 $ 31,836