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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net (loss) income $ 5,375,653 $ (17,287,633)
Less: Income (loss) from discontinued operations 8,714,852 (2,961,801)
Loss from continuing operations (3,339,199) (14,325,832)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 53,687 31,683
Amortization on right of use asset 11,724 801
Amortization of debt issuance costs 2,667 2,666
Amortization of discount - proceeds from sale of discontinued operations (245,041) 0
Accrued interest on convertible notes 416,548 417,315
Realized and unrealized gain on marketable securities (767,533) (22,043)
Stock-based compensation expense 3,368,575 8,988,172
Change in fair value of warrant liability (2,494) (334,616)
Change in operating assets and liabilities:    
Accounts receivable (2,030,800) (475,568)
Contract assets 442,616 (689,281)
Prepaid expenses (132,344) (250,660)
Changes in lease liabilities during the year (11,724) (801)
Deposits and other assets (235,656) 544,571
Accounts payable 605,437 200,371
Accrued expenses (236,088) (266,399)
Deferred revenues 681,476 1,793,532
Net cash used in operating activities - continuing operations (1,418,149) (4,386,089)
Net cash used in operating activities - discontinued operations (59,075) (1,355,306)
Net cash used in operating activities (1,477,224) (5,741,395)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Additions to property and equipment (75,493) (45,367)
Purchase of marketable securities (61,573,237) (23,959,558)
Sale of marketable securities 41,392,821 24,799,107
Net cash from sale of discontinued operations 21,967,193 225,577
Net cash provided by investing activities - continuing operations 1,711,284 1,019,759
Net cash used in investing activities - discontinued operations 0 (1,654,163)
Net cash used in (provided by) investing activities 1,711,284 (634,404)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Payments on notes payable and financing arrangements 0 (13,122)
Payment of employee withholding tax related to restricted stock units (127,357) (58,085)
Net cash used in financing activities - continuing operations (127,357) (71,207)
Net cash used in financing activities (127,357) (71,207)
Net change in cash 106,703 (6,447,006)
Cash and cash equivalents, beginning of period 2,795,743 17,938,490
Cash and cash equivalents, end of period 2,902,446 11,491,484
Supplemental disclosure of cash flow information:    
Cash paid for interest 0 0
Cash paid for taxes $ 1,423,000 $ 2,550