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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Cash Flows from Operating Activities    
Net loss from continuing operations $ (10,034) $ (34,500)
Adjustments to reconcile net loss to net cash used in operating activities    
Depreciation and amortization 430 264
Stock-based compensation expense 111 28
Amortization of right of use asset 119
Amortization of debt discount and debt issuance costs 1,055
Realized gain on sale of digital assets (1,498) (91)
Loss on extinguishment of debt 1,008
Change in fair value of debt conversion feature 1,559 814
Gain on settlement of vendor liabilities (1,533) (38)
Impairment of digital assets 2,494 325
Issuance of shares in exchange for services 240 2,377
Merger charges 22,004
Debt restructuring expense 2,000
Change in fair value of share derivative liability (263) (9)
Changes in assets and liabilities:    
Prepaid assets and other current assets 805 (72)
Accounts receivable and other receivables 2,099 4,010
Accounts payable (1,385) (3,908)
Accrued liabilities and other current liabilities 737 442
Operating lease liability (35)
Net cash used in operating activities – continuing operations (5,146) (5,299)
Net cash (used in) provided by operating activities – discontinued operations (1,795) (500)
Net cash used in operating activities (6,941) (5,799)
Cash Flows from Investing Activities    
Proceeds from sale of digital assets 8,023 3,670
Reverse acquisition of Sysorex business 28
Pre-funded right in Ostendo (1,600)
Net cash provided by investing activities -continuing operations 6,423 3,698
Net cash provided by (used in) investing activities – discontinued operations (603)
Net cash provided by investing activities 6,423 3,095
Cash Flows from Financing Activities    
Repayment of loans (3,346)
Proceeds received for convertible debt 12,415
Issuance of members’ interests 100
Cash paid for convertible debt transaction costs (1,261)
Net cash provided by financing activities- continuing operations 7,908
Net cash used in financing activities – discontinued operations (1,003)
Net cash provided by financing activities 6,905
Net (decrease) in cash and cash equivalents (518) 4,201
Cash and cash equivalents at beginning of period 659 67
Cash and cash equivalents at end of period 141 4,268
Cash paid for:    
Interest 1,009 89
Income taxes
Supplemental disclosure of noncash investing and financing activities:    
Conversion of debt to equity 8,082
Equipment exchanged for equity   7,620
Equipment acquired through lease purchase agreement   2,130
Debt discount attributed to the fair value of warrants   810
Debt discount attributed to the fair value of the conversion option   2,077
Settlement of loan with mining equipment 1,091
Sysorex recapitalization 19,401
Distributions of digital assets to members 1,521
Reclassification of equity contracts to liabilities 314
Settlement of share derivative liability $ 5