Quarterly report pursuant to Section 13 or 15(d)

Condensed Interim Consolidated Statements of Cash Flows (Unaudited)

v3.20.2
Condensed Interim Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Cash flows from operating activities    
Net loss $ (16,584) $ (16,862)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation 2,848 431
Depreciation and amortization 2,761 70
Amortization of license fee revenue (73) (73)
Amortization of right of use assets 367 1,727
Impairment of long-term investment 9,413
Impairment of cryptocurrencies 989 372
Loss on issuance of convertible notes, common stock and warrants 6,155
Change in fair value of convertible notes 3,895
Change in fair value of warrant liability 2,870
Gain on deconsolidation of Tess (1,139)
Reversal of registration rights penalty (1,358)
Gain on extinguishment of accounts payable, other liabilities and accrued expenses (843)
Realized gain on exchange of cryptocurrencies (491) (665)
Gain on sale of equipment (31)
Accrued interest on Verady investment (20)
Changes in assets and liabilities:    
Prepaid expenses and other current assets 536 (756)
Cryptocurrencies - mining, net of mining pool operating fees (6,623) (5,453)
Accounts payable 63 (1,798)
Accrued expenses (271) 882
Lease liability (368) (1,725)
Net cash used in operating activities (8,822) (12,932)
Cash flows from investing activities    
Proceeds from sale of cryptocurrencies 1,029 3,196
Proceeds from sale of equipment 96
Deposits on equipment (11,354)
Purchases of property and equipment (6,265) (9)
Patent costs incurred (31) (26)
Net cash (used in) provided by investing activities (16,525) 3,161
Cash flows from financing activities    
Proceeds from issuance of convertible notes 3,000
Repayment of notes payable and other obligations (950)
Proceeds from the issuance of common stock / At-the-market offering 49,551 23,611
Offering costs for the issuance of common stock / At-the-market offering (1,594) (952)
Proceeds from exercise of common stock warrants 388
Repurchase of common shares to pay employee withholding taxes (352)
Net cash provided by financing activities 47,993 24,709
Net increase in cash and cash equivalents 22,646 14,938
Cash and cash equivalents at beginning of period 7,440 225
Cash and cash equivalents at end of period 30,086 15,163
Supplemental disclosure of cash flow information:    
Cash paid for interest
Cash paid for taxes
Supplemental disclosure of noncash investing and financing activities:    
Issuance of common stock to settle previously accrued executive compensation 175
Cryptocurrencies received from sale of equipment 52
Conversion of notes payable to common stock 10,226
Reclassification of warrant liability to equity 5,439
Conversion of preferred stock to common stock 47
Common stock issued in connection with conversion of notes payable   255
Cryptocurrencies used to purchase miners $ 99