Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.20.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Cash flows from operating activities    
Net loss $ (20,303) $ (60,213)
Income from discontinued operations 96
Loss from continuing operations (20,303) (60,309)
Adjustments to reconcile net loss from continuing operations to net cash used in operating activities of continuing operations:    
Stock-based compensation 745 4,660
Depreciation and amortization 119 5,267
Deferred income tax benefit (143) (699)
Amortization of license fee revenue (96) (96)
Non-cash lease expense 2,297
Common stock issued for services 403
Common stock issued for the extinguishment of the BMSS payable 265
Loss on issuance of convertible notes, common stock and warrants 6,155
Change in fair value of convertible notes 3,896
Change in fair value of warrant liability 2,869
Gain on deconsolidation of Tess (1,139)
Gain on extiguishment of accounts payable, other liabilities and accrued interest (854)
Impairment of property and equipment 29,238
Impairment of cryptocurrencies 844 3,501
Goodwill impairment charge 1,186
Impairment of intangible rights acquired 700 1,341
Realized gain on sale of cryptocurrencies (665) (26)
Accrued interest on Verady investment (20)
Changes in assets and liabilities:    
Prepaid expenses and other current assets (101) (839)
Cryptocurrencies - mining, net of mining pool operating fees (6,606) (7,593)
Deposits on equipment (1,449)
Accounts payable (1,886) 3,419
Accrued expenses 1,069 1,230
Lease liability (2,296)
Net cash used in operating activities (16,864) (19,052)
Cash flows from investing activities - continuing operations:    
Proceeds from sale of cryptocurrencies 3,196 9,237
Purchase of cryptocurrencies (5,625)
Purchases of equipment (4,958) (20,195)
Purchases of other investments (6,413)
Security deposits (703)
Patent costs incurred (38) (59)
Investment in Logical Brokerage, net of cash acquired (517)
Purchase of developed technology by Tess Pay, Inc. (587)
Net cash used in investing activities (1,800) (24,862)
Cash flows from financing activities - continuing operations:    
Proceeds from issuance of convertible notes 3,000
Proceeds from notes payable 1,696
Payments on BMSS purchase agreement (300)
Repayment of notes payable and other obligations (950) (136)
Proceeds from the issuance of common stock / At-the-market offering 24,825
Offering costs for the issuance of common stock / At-the-market offering (996)
Proceeds from exercise of warrants 350
Proceeds from exercise of stock options 79
Proceeds from sale of Riot shares held by Tess Pay, Inc. 506
Proceeds form the sale of common shares sold by Tess Pay, Inc. 220
Refund of escrow dividend 72
Net cash provided by financing activities 25,879 2,487
Net increase (decrease) in cash and cash equivalents 7,215 (41,427)
Cash and cash equivalents at beginning of period 225 41,652
Cash and cash equivalents at end of period 7,440 225
Supplemental disclosure of cash flow information:    
Cash paid for interest 7
Cash paid for taxes
Supplemental disclosure of noncash investing and financing activities:    
Conversion of notes payable to common stock 10,226
Reclassification of warrant liability to equity 5,439
Value of shares issued for Prive asset acquisition 8,480
Conversion of preferred stock to common stock 47 7,190
Deferred purchase price for BMSS 1,500
Preferred stock canceled 486
Deferred tax liability for Logical Brokerage 143
Cryptocurrencies used to purchase miners $ 99