XML 19 R6.htm IDEA: XBRL DOCUMENT v3.22.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Cash flows from operating activities:    
Net loss $ (23,971,000) $ (32,727,000)
Less: Net income from discontinued operations 661,000
Net loss from continuing operations (23,971,000) (33,388,000)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 2,103,000 392,000
Amortization 375,000 336,000
Amortization of right-of-use assets 950,000 (140,000)
Amortization, related party 30,000
Interest expense – debt discount 1,076,000 7,251,000
(Gain) loss on extinguishment of debt (929,000) 18,706,000
Change in fair value of warrant liability 542,000 49,000
Accretion of original issue discount on notes receivable 22,000
Impairment of debt securities, net 5,090,000
Accretion of original issue discount on notes receivable 21,000 (62,000)
Increase in accrued interest on notes receivable – related party (235,000) (1,000)
Stock-based compensation 7,750,000 1,106,000
Impairment of cryptocurrencies 403,000 (5,000)
Realized losses on other investments 39,000
Realized gains on sale of marketable securities (21,187,000) (75,000)
Unrealized (gains) losses on marketable equity securities 14,127,000 (796,000)
Unrealized (gains) losses on equity securities – related party 5,754,000 (298,000)
Unrealized (gains) losses on equity securities (10,734,000) 73,000
Loss from equity investment 311,000
Provision for loan losses (2,000,000)
Changes in operating assets and liabilities:    
Marketable equity securities (29,398,000)
Accounts receivable (1,407,000) (641,000)
Accrued revenue (498,000) 645,000
Inventories (2,031,000) 183,000
Prepaid expenses and other current assets (5,548,000) (1,613,000)
Digital currencies (3,450,000)
Other assets (1,526,000) (88,000)
Accounts payable and accrued expenses 1,613,000 (364,000)
Accounts payable, related parties 17,000 (28,000)
Other current liabilities (650,000)
Lease liabilities (919,000) 168,000
Net cash used in continuing operating activities (61,671,000) (11,179,000)
Net cash provided by discontinued operating activities 1,000
Net cash used in operating activities (61,671,000) (11,178,000)
Cash flows from investing activities:    
Purchase of property and equipment (151,993,000) (582,000)
Acquisition of Relec, net of cash acquired (3,628,000)
Investments in convertible promissory notes of AVLP and Alzamend, related parties (7,344,000) (2,118,000)
Investment in term promissory note of Ault & Company, related party (2,500,000)
Investments in common stock and warrants, related parties (20,163,000) (354,000)
Investment in real property, related party (2,670,000)
Proceeds from sale of investment in real property, related party 2,670,000
Acquisition of Imperalis, net of cash acquired (165,000)
Purchase of marketable equity securities (2,765,000) (1,425,000)
Sales of marketable equity securities 4,062,000 373,000
Investments in loans receivable (18,235,000)
Proceeds from loans receivable 140,000
Investment of Ault Disruptive initial public offering proceeds into trust account (116,725,000)
Investments in equity securities (17,623,000) (189,000)
Net cash used in investing activities (333,451,000) (7,783,000)
Cash flows from financing activities:    
Gross proceeds from sales of common stock 200,053,000 39,978,000
Financing cost in connection with sales of equity securities (5,941,000) (1,652,000)
Proceeds from warrant exercises 4,724,000 53,000
Proceeds from convertible notes payable 100,000
Proceeds from notes payable 84,909,000 9,722,000
Proceeds from short-term advances 570,000
Payments on short-term advances (570,000)
Proceeds from margin accounts 18,488,000
Proceeds from short-term advances – related party 653,000
Payments on short-term advances – related party (323,000)
Payments on notes payable (2,461,000) (8,784,000)
Payments on advances on future receipts (2,351,000)
Payments of preferred dividends (18,000) (18,000)
Purchase of treasury stock (13,180,000)
Proceeds from initial public offering of Ault Disruptive 112,125,000
Payment of deferred offering costs of Ault Disruptive initial public offering (633,000)
Payments on revolving credit facilities, net (125,000) (97,000)
Net cash provided by financing activities 397,941,000 37,281,000
Effect of exchange rate changes on cash and cash equivalents (266,000) (123,000)
Net increase in cash and cash equivalents and restricted cash 2,553,000 18,197,000
Cash and cash equivalents and restricted cash at beginning of period 18,680,000 483,000
Cash and cash equivalents and restricted cash at end of period 21,233,000 18,680,000
Supplemental disclosures of cash flow information:    
Cash paid during the period for interest 257,000 658,000
Non-cash investing and financing activities:    
Conversion of convertible notes payable into shares of common stock 449,000 24,781,000
Payment of accounts payable with digital currency 890,000
Issuance of common stock in payment of liability 1,537,000
Cancellation of short-term advances, related party into shares of common stock 740,000
Issuance of notes payable and convertible notes payable in payment of accrued expenses 420,000
Conversion of equity securities to marketable securities 2,656,000
Conversion of loans receivable to equity securities 4,250,000
Conversion of convertible notes payable, related party into shares of common stock 400,000 600,000
Remeasurement of Ault Disruptive temporary equity 1,712,000
Deferred offering costs of Ault Disruptive 3,579,000
Recognition of new operating lease right-of-use assets and lease liabilities 1,875,000
Amounts receivable from issuance of promissory notes 6,900,000
Issuance of notes payable for purchase of property and equipment $ 22,000,000