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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Cash Flows from Operating Activities    
Net loss from continuing operations $ (8,656) $ (52,520)
Adjustments to reconcile net loss to net cash used in operating activities    
Depreciation and amortization 576 407
Stock based compensation expense 111 113
Amortization of right of use asset 149
Amortization of debt discount and debt issuance costs 2,173
Realized gain on sale of digital assets (1,751) (106)
Gain on settlement of vendor liabilities (1,998) (145)
Impairment of digital assets 2,748 704
Impairment of investments 203
Impairment of goodwill 1,634
Loss contingency on debt default 7,821
Loss on extinguishment of debt 249
Change in fair value of debt conversion feature (1,962) 6,278
Change in fair value of common stock derivative liability (570)
Issuance of shares in exchange for services 240 2,577
Loss on excess fair value of liability classified warrant 137  
Merger charges 22,004
Debt restructuring fee 2,000
Changes in assets and liabilities:    
Digital assets–- management fees 321
Prepaid assets and other current assets 792 (173)
Accounts receivable and other receivables (1,029) 1,650
Accounts payable (490) 8,729
Accrued liabilities and other current liabilities 4,108 2,859
Operating lease liability (71)
Net cash (used in) provided by operating activities- continuing operations (5,580) 4,692
Net cash used in operating activities – discontinued operations (1,966) (13,165)
Net cash used in operating activities (7,546) (8,473)
Cash Flows from Investing Activities    
Proceeds from sale of digital assets 8,119 3,670
Equity investment in Ostendo (1,600)
Reverse acquisition of Sysorex business 28
Net cash provided by investing activities -continuing operations 6,519 3,698
Net cash used in investing activities – discontinued operations (1,520)
Net cash provided by (used in) investing activities 6,519 2,178
Cash Flows from Financing Activities    
Repayment of loans (4,349)
Payments for convertible debt transaction costs (1,279)
Issuance of Members Interest 100
Proceeds received from issuance of common stock, net of fees 397
Proceeds received from issuance of convertible debt 12,415
Net cash provided by financing activities- continuing operations 397 6,887
Net cash provided by financing activities – discontinued operations
Net cash provided by financing activities 397 6,887
Net increase in cash and cash equivalents (630) 592
Cash and cash equivalents at beginning of period 659 67
Cash and cash equivalents at end of period 29 659
Cash paid for:    
Interest 1,009 344
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
Distributions of digital assets to members 1,521
Payments of short-term borrowing with digital assets 1,091
Right of use assets exchanged for lease obligation 558
Conversion of debt to equity 9,360
Reclassification of equity contracts to liabilities 314
Issuance of warrant derivative liability 534
Issuance of restricted stock $ 5