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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Cash Flows from Operating Activities    
Net loss from continuing operations $ (54,366) $ (101)
Adjustments to reconcile net loss to net cash used in operating activities    
Depreciation and amortization 2,917
Stock based compensation expense 113
Amortization of debt discount and debt issuance costs 2,173
Realized gain on sale of digital assets (106) (44)
Gain on settlement of vendor liabilities (145)
Impairment of data mining assets 3,276
Impairment of digital assets 704
Loss contingency on debt default 7,821
Change in fair value of debt conversion feature 6,278  
Issuance of shares in exchange for services 2,577
Merger charges 22,004
Debt restructuring fee 2,000
Changes in assets and liabilities:    
Digital assets - mining net of pool fees and management fees (18,153) (966)
Prepaid assets and other current assets (173)
Accounts receivable and other receivables 1,650 2
Accounts payable 8,729
Accrued liabilities and other current liabilities 2,859
Net cash used in operating activities- continuing operations (9,842) (1,109)
Net cash provided by operating activities – discontinued operations 1,369 595
Net cash used in operating activities (8,473) (514)
Cash Flows from Investing Activities    
Proceeds from sale of digital assets 3,670 555
Purchase of mining equipment (50)
Reverse acquisition of Sysorex business 28
Up North business combination, net of cash received (34)
Net cash provided by investing activities -continuing operations 3,614 555
Net cash used in investing activities – discontinued operations (1,436) (582)
Net cash provided by (used in) investing activities 2,178 (27)
Cash Flows from Financing Activities    
Repayment of loans (4,349)
Payments for convertible debt transaction costs (1,279)
Issuance of Members Interest 100 554
Proceeds received from issuance of convertible debt 12,415
Net cash provided by financing activities- continuing operations 6,887 554
Net cash provided by financing activities – discontinued operations 20
Net cash provided by financing activities 6,887 574
Net increase in cash and cash equivalents 592 33
Cash and cash equivalents at beginning of period 67 34
Cash and cash equivalents at end of period 659 67
Cash paid for:    
Interest 344
Income taxes
Supplemental disclosure of noncash investing and financing activities:    
Sysorex recapitalization 19,401
Debt discount attributed to the fair value of the warrants 896
Debt discount attributed to the fair value of the conversion option 2,077
Equipment exchanged for equity 7,620
Equipment acquired through lease purchase arrangement 2,130
Digital assets received for members interest 46
Distributions of digital assets to members 1,521 1,211
Payments of short-term borrowing with digital assets 1,091
Right of use assets exchanged for lease obligation $ 558