Phunware, Inc. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Subsequent Events

Subsequent Events	12 Months Ended
Dec. 31, 2018
Subsequent Events [Abstract]
Subsequent Events	16. Subsequent Events The Company has evaluated subsequent events through March 19, 2019. On January 15, 2019, Phunware and the holders of the Transfer Sponsor Warrant Notes agreed to amend, waive and forgive the Transfer Sponsor Warrant Notes in their entireties, effective as of December 26, 2018. The waiver of the Transferred Sponsor Warrant Note had no effect on the holder of outstanding shares of Phunware stock (as determined immediately prior to the Merger) right to receive, should they have elected, the Transfer Sponsor Warrants as consideration in the Reverse Merger and Recapitalization. On January 18, 2019, PhunCoin, Inc. commenced an offering of up to $1,070 of Rights pursuant to Regulation CF. Through the date noted above the Company has commitments of approximately $134, before intermediary fees, for an aggregate of approximately 67.1 million PhunCoin. On January 25, 2019 the holder of the Series A convertible preferred stock redeemed 3,000 shares. The Company paid the holder $3,120 as a result of this redemption in accordance with terms of the Series A Financing. Furthermore, on February 24, 2019, the holder redeemed 2,500 shares of Series A convertible preferred stock in accordance with the Terms of the Series A financing. The Company paid $2,600 to the holder. Of the proceeds paid to the holder for both redemptions, $5.5 million was from the restricted cash account, and $220 from the Company’s operating account. Through the date noted above, the Company received cash exercises of warrants for the purchase of 585,396 shares of common stock for aggregate gross proceeds of approximately $5,820, of which $5,728 was received in cash, $92 was received in digital currencies. Furthermore, 8,272,023 warrants were exercised via cashless provisions that resulted in the issuance of 7,517,334 shares of common stock. The Company further received cashless exercises of 113,750 units that resulted in the issuance of 103,837 shares and 103,837 warrants. The warrants issued have the same terms as the Public Warrants.

Subsequent Events

12 Months Ended

Dec. 31, 2018

Subsequent Events [Abstract]

Subsequent Events

16. Subsequent Events

The Company has evaluated subsequent events through March 19, 2019.

On January 15, 2019, Phunware and the holders of the Transfer Sponsor Warrant Notes agreed to amend, waive and forgive the Transfer Sponsor Warrant Notes in their entireties, effective as of December 26, 2018. The waiver of the Transferred Sponsor Warrant Note had no effect on the holder of outstanding shares of Phunware stock (as determined immediately prior to the Merger) right to receive, should they have elected, the Transfer Sponsor Warrants as consideration in the Reverse Merger and Recapitalization.

On January 18, 2019, PhunCoin, Inc. commenced an offering of up to $1,070 of Rights pursuant to Regulation CF. Through the date noted above the Company has commitments of approximately $134, before intermediary fees, for an aggregate of approximately 67.1 million PhunCoin.

On January 25, 2019 the holder of the Series A convertible preferred stock redeemed 3,000 shares. The Company paid the holder $3,120 as a result of this redemption in accordance with terms of the Series A Financing. Furthermore, on February 24, 2019, the holder redeemed 2,500 shares of Series A convertible preferred stock in accordance with the Terms of the Series A financing. The Company paid $2,600 to the holder. Of the proceeds paid to the holder for both redemptions, $5.5 million was from the restricted cash account, and $220 from the Company’s operating account.

Through the date noted above, the Company received cash exercises of warrants for the purchase of 585,396 shares of common stock for aggregate gross proceeds of approximately $5,820, of which $5,728 was received in cash, $92 was received in digital currencies. Furthermore, 8,272,023 warrants were exercised via cashless provisions that resulted in the issuance of 7,517,334 shares of common stock. The Company further received cashless exercises of 113,750 units that resulted in the issuance of 103,837 shares and 103,837 warrants. The warrants issued have the same terms as the Public Warrants.