Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.20.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Operating activities    
Net loss $ (3,963) $ (3,494)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 8 16
Amortization of acquired intangibles 41 75
Amortization of debt discount and deferred financing costs 13 0
Loss on sale of digital currencies 0 4
Bad debt (recovery) expense (16) 15
Stock-based compensation 635 11
Changes in operating assets and liabilities:    
Accounts receivable 783 850
Prepaid expenses and other assets (108) (34)
Accounts payable 851 (1,290)
Accrued expenses 643 (87)
Deferred revenue (792) (182)
Net cash used in operating activities (1,905) (4,116)
Investing activities    
Proceeds received from sale of digital currencies 0 88
Net cash provided by investing activities 0 88
Financing activities    
Proceeds from borrowings, net of issuance costs 2,595 0
Proceeds from related party bridge loans 560
Net repayments on factoring agreement (627) (803)
Proceeds from warrant exercises 0 5,731
Proceeds from exercise of options to purchase common stock 15 35
Series A convertible preferred stock redemptions and dividend payments 0 (6,240)
Net cash provided by (used in) financing activities 2,543 (1,277)
Effect of exchange rate on cash and restricted cash (76) 26
Net increase (decrease) in cash and restricted cash 562 (5,279)
Cash and restricted cash at the beginning of the period 362 6,344
Cash and restricted cash at the end of the period 924 1,065
Supplemental disclosure of cash flow information    
Interest paid 98 213
Income taxes paid 0 0
Proceeds due from transfer agent for warrant exercises 0 361
Issuance of common stock for payment of legal and board of director fees $ 492 $ 0