Quarterly report pursuant to Section 13 or 15(d)

Condensed Interim Consolidated Statements of Cash Flows (Unaudited)

v3.20.1
Condensed Interim Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Cash flows from operating activities    
Net loss $ (4,277) $ (13,750)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation 1,914 235
Depreciation and amortization 663 24
Amortization of license fee revenue (24) (24)
Amortization of right of use assets 643 567
Impairment of cryptocurrencies 989
Loss on issuance of convertible notes, common stock and warrants 6,155
Change in fair value of convertible notes 1,645
Change in fair value of warrant liability 2,753
Realized gain on exchange of cryptocurrencies (106) (5)
Gain on sale of equipment (17)
Changes in assets and liabilities:    
Prepaid expenses and other current assets 543 585
Cryptocurrencies - mining, net of mining pool operating fees (2,326) (1,378)
Accrued interest (17)
Accounts payable (135) (374)
Accrued expenses 45 991
Lease liability (571) (591)
Net cash used in operating activities (2,659) (3,184)
Cash flows from investing activities    
Proceeds from sale of cryptocurrencies 1,004
Poceeds from sale of equipment 18
Purchases of property and equipment (3)
Patent costs incurred (27) (26)
Net cash (used in) provided by investing activities (9) 975
Cash flows from financing activities    
Proceeds from issuance of convertible notes 3,000
Proceeds from the issuance of common stock / At-the-market offering 9,495
Offering costs for the issuance of common stock / At-the-market offering (311)
Net cash provided by financing activities 9,184 3,000
Net increase in cash and cash equivalents 6,516 791
Cash and cash equivalents at beginning of period 7,440 225
Cash and cash equivalents at end of period 13,956 1,016
Supplemental disclosure of cash flow information:    
Cash paid for interest
Cash paid for taxes
Supplemental disclosure of noncash investing and financing activities:    
Reclassification of deposits on equipment to property and equipment 1,449
Issuance of common stock to settle executive compensation $ 175