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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended 6 Months Ended 9 Months Ended
Sep. 30, 2019
Jul. 10, 2019
Sep. 30, 2020
Cash flows from operating activities      
Net loss $ (15,880,064) $ (23,742,530) $ (37,616,147)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Depreciation and amortization 10,702,840 6,222,917 44,031,111
Stock based compensation 9,750,822 908,978 14,766,400
Amortization of debt issuance costs 223,761 215,658 1,054,809
Fair value change in tax receivable agreement liability 450,922   12,055,798
Fair value change in other assets and liabilities     (3,041,378)
Deferred tax expense (2,719,402)   (8,395,077)
Change in accounts receivable 247,912 (4,614,620) (179,943)
Change in related party receivable     563,084
Change in prepaid expenses and other (3,089,306) (73,533) (499,594)
Change in accounts payable 2,914,452 1,297,035 2,055,447
Change in related party payable     (14,545,569)
Change in accrued expenses and other 2,335,150 28,136,310 (4,024,327)
Change in other liabilities     486,414
Net cash provided by operating activities 4,937,087 8,350,215 6,711,028
Cash flows from investing activities      
Purchases of property and equipment (265,720) (203,026) (811,626)
Purchases of software (1,682,965) (3,842,744) (10,853,882)
Net cash used in investing activities (303,507,151) (4,045,770) (55,175,743)
Cash flows from financing activities      
Change in line of credit (3,500,000)   (10,000,000)
Issuance of long-term debt 210,000,000   60,425,983
Payments on long-term debt (89,800,000) (2,450,000) (4,993,825)
Repurchase of outstanding warrants (38,700,000)    
Repurchase of treasury shares     (701,374)
Exercise of warrants     86,798,846
Conversion of Thunder Bridge Class A ordinary shares to Class A Common Stock 148,870,571    
Redemption of Post-Merger Repay Units     (435,295,813)
Distributions to Members (185,957) (6,904,991) (1,496,336)
Payment of loan costs (6,065,465)   (1,861,816)
Net cash provided by (used in) financing activities 355,619,149 (9,354,991) 203,242,483
Increase (decrease) in cash, cash equivalents and restricted cash 57,049,085 (5,050,546) 154,777,768
Cash, cash equivalents and restricted cash at beginning of period 32,850,571 37,901,117 37,901,117
Cash, cash equivalents and restricted cash at end of period 57,049,085 32,850,571 192,678,885
Cash paid during the year for:      
Interest 1,907,283 $ 2,929,509 9,023,058
Hawk Parent      
Cash flows from investing activities      
Acquisition, net of cash and restricted cash acquired (242,599,551)    
SUPPLEMENTAL SCHEDULE OF NONCASH INVESTING AND FINANCING ACTIVITIES      
Acquisition of Hawk Parent in exchange for Class A Common Stock 220,056,226    
Acquisition of Hawk Parent in exchange for amounts payable under Tax Receivable Agreement 65,886,701    
Acquisition in exchange for contingent consideration 12,300,000    
TriSource Solutions, LLC      
Cash flows from investing activities      
Acquisition, net of cash and restricted cash acquired (58,958,915)    
SUPPLEMENTAL SCHEDULE OF NONCASH INVESTING AND FINANCING ACTIVITIES      
Acquisition in exchange for contingent consideration 2,250,000   1,750,000
Ventanex      
Cash flows from investing activities      
Acquisition, net of cash and restricted cash acquired     (35,460,153)
SUPPLEMENTAL SCHEDULE OF NONCASH INVESTING AND FINANCING ACTIVITIES      
Acquisition in exchange for contingent consideration     4,800,000
APS Payments      
Cash flows from investing activities      
Acquisition, net of cash and restricted cash acquired     (465,454)
SUPPLEMENTAL SCHEDULE OF NONCASH INVESTING AND FINANCING ACTIVITIES      
Acquisition in exchange for contingent consideration     6,580,549
cPayPlus      
Cash flows from investing activities      
Acquisition, net of cash and restricted cash acquired     (7,584,628)
SUPPLEMENTAL SCHEDULE OF NONCASH INVESTING AND FINANCING ACTIVITIES      
Acquisition in exchange for contingent consideration     6,500,000
Class A Common Stock      
Cash flows from financing activities      
Public issuance of Class A Common Stock $ 135,000,000   $ 510,366,818