XML 19 R7.htm IDEA: XBRL DOCUMENT v3.26.3
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Cash Flows From Operating Activities:    
Net loss $ (13,122) $ (15,029)
Net loss from discontinued operations 719
Adjustments to reconcile net loss to net cash used in operating activities    
Gain on sale mortgage loans held for sale, net of direct costs (5,650) (3,598)
Recovery for credit losses (29)
Depreciation and amortization 2,466 2,487
(Gain) loss on extinguishment of debt (17) 610
Amortization of debt discount 19 1,722
Stock compensation expense 2,685
Issuance of restricted stock awards 382
Preferred stock dividends (113) (113)
Change in equity method investment 148 (129)
Gain on remeasurement of previously held equity interest (480)
Issuance of common stock to third parties for services 88
Issuance of common stock to employees for services 130
Warrants issued related to settlement 26
Noncash lease expense (27) (19)
Changes in operating assets and liabilities:    
Proceeds from principal payments and sales of loans held for sale 198,573 98,224
Originations of mortgage loans held for sale (189,041) (96,625)
Interest rate lock commitment derivative (134) (222)
Prepaid expenses and other current assets 89 (115)
Accounts receivable, net - related party (145)
Accounts receivables, net (61) (12)
Other receivable (97)
Due from affiliate 400
Other assets, net 185 488
Accounts payable 158 (542)
Accrued liabilities 317 (258)
Loans committed for funding 1,808
Accrued interest, net 57 154
Other noncurrent liabilities (57) 1
Net cash used in operating activities of continuing operations (1,569) (12,130)
Net cash provided by operating activities of discontinued operations 693
Net cash used in operating activities (1,569) (11,437)
Cash Flows From Investing Activities:    
Note receivable (75)
SAFE (255)
Purchases of property and equipment (10)
Purchase of internal-use software (233) (203)
Net cash used in investing activities of continuing operations (243) (533)
Net cash used in investing activities of discontinued operations (515)
Net cash used in investing activities (243) (1,048)
Cash Flows From Financing Activities:    
Net repayments/borrowings under warehouse lines of credit (5,648) 2,329
ELOC shares issued for cash, net of offering costs 3,352 6,988
ATM shares issued for cash, net of offering costs 2,000 6,721
Series G Preferred Stock issued for cash, net of offering costs 3,266
Proceeds from warrant exercise 232
Proceeds from issuance of stock for option exercises 5
Payments of principal on secured credit facilities (5,439)
Proceeds from notes payable, related party 500 672
Payments of principal on notes payable, related party (796)
Proceeds from notes payable 300 250
Payments of principal on notes payable (1,025)
Net cash provided by financing activities 741 12,966
Net (decrease) increase in cash (1,071) 481
Effect of exchange rate changes on cash 12 (13)
Cash and restricted cash at the beginning of the period 3,445 872
Cash and restricted cash at the end of the period 2,386 1,340
Supplemental Disclosure of Cash Flow Information    
Cash paid during the period for interest 215
Cash paid during the period for income taxes
Supplemental Disclosure of Non-Cash Investing and Financing Activities    
Note payable, related party converted to Preferred stock Series G 700
Conversion of preferred shares 1 6
Deemed dividend - Preferred stock Series G and warrant price protection 6,766
Secured credit facilities converted to common shares 986
Series A Preferred Stock issued in exchange for Series F/F-1 Preferred Stock 1
Shares surrendered in settlement of debt, related party 132
Note payable, related party converted to common shares 500
Issued common stock as consideration for the acquisition in a business combination 258
Cash and cash equivalents 2,070 1,295
Restricted cash 316 45
Total cash and cash equivalents and restricted cash $ 2,386 $ 1,340