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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Cash Flows From Operating Activities    
Net loss $ (3,887) $ (8,781)
Adjustments to reconcile net loss to net cash used in operating activities    
Depreciation 1,102 170
(Gain) loss on sale of property and equipment 352 (599)
Impairment of property and equipment 49 64
Change in fair value of liability (26) (176)
Change in fair value of derivative liability (309)
Stock-based compensation expense 222 2,301
Funding from SBA PPP loan recognized as income (111)
Extinguishment of note payable (3,540)
Amortization of note discount 882 5,605
Amortization of right-of-use asset 20
Non-cash interest expense 355
Termination of management agreements 536
Change in operating assets and liabilities    
Prepaid expenses and other current assets 115 80
Intangible digital assets 14 12
Management agreement termination liability (90) (45)
Right of use asset 2 9
Operating lease liability (22) (6)
Other assets 66
Accounts payable 466 352
Accrued expenses 216 (8)
Net cash used in operating activities (650) (3,960)
Cash Flows From Investing Activities    
Purchase of property and equipment (376) (3,646)
Proceeds from sale of property and equipment 686 535
Proceeds from sale of Bitcoin received for sale of equipment 53
Deposits made on property and equipment (38) (203)
Refund of security deposit 34
Net cash provided by (used in) investing activities 359 (3,314)
Cash Flows From Financing Activities    
Proceeds from SBA PPP loan 111
Proceeds from the issuance of notes payable, net of original issue discount 200
Proceeds from sale of common stock 525
Payment of deferred offering costs (70)
Proceeds from sale of stock under equity purchase agreement, net of issuance costs 5,053
Sale of preferred stock, net of issuance costs 1,990
Repayment of notes payable (210)
Proceeds from exercise of warrants 120
Warrant buybacks (14)
Net cash provided by financing activities 311 7,394
Net change in cash and cash equivalents 20 120
Cash and cash equivalents, beginning of year 216 96
Cash and cash equivalents, end of year 236 216
Supplemental disclosure of cash flow information    
Cash paid for interest 3
Cash paid for income tax
Non-cash investing and financing activities    
Reclassification of deposit to property plant and equipment 202
Deemed dividend on warrant modification and beneficial conversion feature of preferred stock 1,005
Cumulative effect adjustment related to ASU adoption 3
Conversion of notes payable into common stock 929 2,738
Repayment of note payable and interest through the issuance of shares under the equity purchase agreement 354
Acquisition of miners through common stock 311
Conversion of Series C convertible preferred stock into common stock 28
Reclassification of deferred offering costs 70
Debt discount on associated with convertible note $ 230