Quarterly report pursuant to Section 13 or 15(d)

Summary of Significant Accounting Policies (Tables)

v3.21.2
Summary of Significant Accounting Policies (Tables)
 9 Months Ended
Sep. 30, 2021
Accounting Policies [Abstract]  
Lessee, Assets and Liabilities The details of our right-of-use asset and lease liability recognized upon adoption of ASC 842 are set forth below:
January 1, 2021
Right-of-use asset $ 2,101 
Straight-line rent accrual (188)
$ 1,913 
Lease liability, current $ 500 
Lease liability, non-current 1,601
$ 2,101 
Schedules of Concentration Risk
The following table sets forth our concentration of accounts receivable, net of specific allowances for doubtful accounts.
September 30, 2021 December 31, 2020
Customer A 47  % —  %
Customer B 8  % 16  %
Customer C 3  % 55  %
Customer D —  % 13  %
The following table sets forth our concentration of revenue sources as a percentage of total net revenues.

Three Months Ended September 30, Nine Months Ended September 30,
2021 2020 2021 2020
Customer A 35  % —  % 15  % —  %
Customer E 8  % 9  % 14  % 11  %
Customer F —  % 26  % —  % 30  %
Customer G —  % 21  % —  % 8  %
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share
The following table sets forth common stock equivalents that have been excluded from the computation of dilutive weighted average shares outstanding as their inclusion would have been anti-dilutive or out-of-the-money:
Three Months Ended September 30, Nine Months Ended September 30,
2021 2020 2021 2020
Convertible notes 19,324 7,221,740 19,324 7,221,740
Warrants 7,676,112 5,996,112 7,676,112 5,996,112
Options 207,257 1,211,828 1,117,697 1,211,828
Restricted stock units 3,807,154 2,223,773 3,807,154 2,223,773
Restricted shares 574 1,198 574 1,198
Total 11,710,421 16,654,651 12,620,861 16,654,651
Financial Instruments Measured at Fair Value
Determining which category an asset or liability falls within the hierarchy requires significant judgment. Our financial instruments measured at fair value as of September 30, 2021 are set forth below:
Level 1 Level 2 Level 3 Total
Assets:
Digital currencies $ 789  $ —  $ —  $ 789 
Total $ 789  $ —  $ —  $ 789 
Liabilities:
Warrant liability $ —  $ 1,762  $ —  $ 1,762 
Total $ —  $ 1,762  $ —  $ 1,762 

    
Our financial instruments measured at fair value as of December 31, 2020 are set forth below:
Level 1 Level 2 Level 3 Total
Liabilities:
Warrant liability $ —  $ 1,614  $ —  $ 1,614 
Total $ —  $ 1,614  $ —  $ 1,614