XML 33 R6.htm IDEA: XBRL DOCUMENT v3.22.1
Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Operating Activities    
Net loss- continuing operations $ (6,388,000) $ (1,210,000)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 3,703,000 81,000
Stock based compensation 1,941,000 40,000
Consultant stock compensation 104,000
Deferred income taxes 41,000 (336,000)
Amortization of operating lease asset 169,000 86,000
Amortization on deferred financing costs and discount on notes 1,876,000
Changes in operating assets and liabilities:    
Accounts receivable (471,000) (26,000)
Prepaid expenses and other current assets (956,000) 3,000
Other long-term assets (812,000) (309,000)
Accounts payable 2,765,000 163,000
Deferred revenue 316,000
Income taxes and uncertain tax positions 2,000
Operating lease liabilities (156,000) (82,000)
Other liabilities 306,000 203,000
Accrued liabilities 2,197,000 171,000
Net cash provided by  (used in) operating activities 4,635,000 (1,214,000)
 Net cash  provided by operating activities- discontinued operations 917,000 3,115,000
Investing Activities    
Purchases of equipment (45,792,000) (805,000)
Purchases of intangible assets (1,567,000)
Deposits of equipment, net (9,909,000) (279,000)
Purchase of stock in equity investment (750,000)
Net cash used in investing activities (57,268,000) (1,834,000)
 Net cash used in investing activities- discontinued operations (37,000) (30,000)
Financing Activities    
Proceeds from equity offering 17,250,000
Proceeds from preferred offering 27,965,000
Proceeds from notes issuance 15,000,000
Costs of equity offering (1,847,000)
Costs of preferred offering (2,707,000)
Costs of notes issuance (1,338,000)
Cash dividends on preferred stock (630,000)
Borrowings under line of credit 1,000,000
Proceeds from stock option exercises 102,000 83,000
Proceeds from common stock warrant exercises 4,586,000
Net cash provided by financing activities 59,381,000 83,000
Increase (decrease) in cash-continuing operations 6,748,000 (2,965,000)
Increase in cash- discontinued operations 880,000 3,085,000
Cash - beginning of period 2,630,000 2,510,000
Cash - end of period 10,258,000 2,630,000
Supplemental Disclosure of Cash Flow Information    
Purchase of miner equipment using restricted stock (207,000)
Termination shares issued in conjunction with merger for intangible assets 1,917
S-3 fees in accounts payable (200,000)
Warrants exercised prior to year-end not received until subsequent period 206,000
Share consideration in relation to strategic pipeline contract $ 33,000,000