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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Cash flows from operating activities:    
Net loss $ (106,043) $ (96,829)
Adjustments to reconcile net loss to net cash used in operating activities    
Share-based compensation expense 11,971 9,113
Depreciation and amortization 5,310 2,229
Non-cash interest expense 14,785 5,511
Allowance for doubtful accounts 1,219 0
Bad debt expense 1,643 0
Expense due to conversion of notes 2,266 0
Change in fair value of contingent consideration, net (5,503) 5,094
Loss (gain) on extinguishment of debt (8,891) 3,940
Impairment of and equity in losses of equity method investees 16,698 13,718
Settlement of ROU operating lease liabilities (5,926) 0
Loss on impairment of assets 42,554 73,669
Loss (gain) on disposal of subsidiaries, net (276) 952
Loss on remeasurement of DBOT investment 0 3,179
Digital tokens received as payment for services 0 (40,700)
Disposal of equity method investments 0 245
Change in assets and liabilities:    
Accounts receivable (6,214) (2,278)
Prepaid expenses and other assets (6,745) 2,881
Accounts payable 2,206 2,862
Deferred revenue 652 168
Amount due to related parties (interest) 1,269 (1,256)
Accrued expenses, salary and other current liabilities (2,443) 3,718
Net cash used in operating activities (41,468) (13,784)
Cash flows from investing activities:    
Acquisition of property and equipment (191) (1,816)
Disposal of subsidiaries, VIEs, net of cash disposed 0 645
Acquisition of subsidiaries, net of cash acquired 0 (623)
Investments in long term investment (2,850) 0
Loans to third parties (1,988) 0
Proceeds from loan repayment 1,529 0
Net cash used in investing activities (3,500) (1,794)
Cash flows from financing activities:    
Proceeds from issuance of convertible notes 27,000 9,132
Repayment of convertible notes (12,000) 0
Proceeds from issuance of shares, stock options and warrant 191,440 2,821
Proceeds from noncontrolling interest shareholder 7,148 0
Proceeds (repayments) due from/to related parties (2,999) 3,161
Borrowings(repayments) from/to third parties (2,540) 0
Net cash provided by financing activities 208,049 15,114
Effect of exchange rate changes on cash 50 (9)
Net increase (decrease) in cash, cash equivalents and restricted cash 163,131 (473)
Cash, cash equivalents and restricted cash at the beginning of the year 2,633 3,106
Cash,cash equivalents and restricted cash at the end of the year 165,764 2,633
Supplemental disclosure of cash flow information:    
Cash paid for income tax 0 0
Cash paid for interest 3,004 73
Issuance of shares for contingent consideration 8,192 0
Issuance of shares for convertible notes conversion 45,114 0
Tree Technologies measurement period adjustment on goodwill, non-controlling interest and intangible assets 12,848 0
Disposal of assets in exchange for GTB 0 20,219
Issuance of shares for acquisition of intangible assets 0 10,005
Issuance of shares for acquisition of long-term investments $ 0 $ 40,715