v3.19.3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Cash Flows (Used In) from Operating Activities    
Net loss $ (16,960) $ (17,278)
Adjustment to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 826 1,334
Amortization of intangible assets 2,602 3,804
Amortization of right of use asset 267
Stock based compensation 2,618 979
Amortization of technology 50 50
Loss on exchange of debt for equity 188
Change in fair value of derivative liability (48)
Amortization of debt discount 1,543 417
Provision for doubtful accounts 358 221
Gain on earnout (934)
Gain on the settlement of liabilities (307)
Gain on the sale of Sysorex Arabia (23)
Income tax benefit (35)
Other 23 (37)
Changes in operating assets and liabilities:    
Accounts receivable and other receivables (1,241) 207
Inventory (194) (19)
Other current assets (45) 54
Prepaid licenses and maintenance contracts (5)
Other assets (284) (36)
Accounts payable 1,140 (8,797)
Accrued liabilities 56 (3,057)
Deferred revenue (369) 64
Other liabilities 400 (44)
Total Adjustments 7,903 (6,177)
Net Cash Used in Operating Activities (9,057) (23,455)
Cash Flows Used in Investing Activities    
Purchase of property and equipment (58) (39)
Investment in capitalized software (658) (661)
Investment in Athentek (175)
Cash spun off as a result of de-consolidation (362)
Cash paid for acquisition of GTX (250)
Cash paid for acquisition of Locality (204)
Cash paid for acquisition of Jibestream (3,714)
Net Cash Flows Used in Investing Activities (4,884) (1,237)
Cash Flows From (Used in) Financing Activities    
Net proceeds (repayments) to bank facility 237 (1,141)
Net proceeds from issuance of common stock, preferred stock and warrants 14,791 27,961
Repayment of notes payable (71) (113)
Loans to related party (9,866) (774)
Repayments from related party 1,683 24
Advances to related party (15)  
Loan to Jibestream (141)
Loan to GTX (50)
Net proceeds from promissory notes 6,750
Net Cash Provided By Financing Activities 13,318 25,957
Effect of Foreign Exchange Rate on Changes on Cash (36) (15)
Net (Decrease) Increase in Cash, Cash Equivalents and Restricted Cash (659) 1,250
Cash, Cash Equivalents and Restricted Cash - Beginning of period 1,224 351
Cash, Cash Equivalents and Restricted Cash - End of period (Note 3) 565 1,601
Cash paid for:    
Interest 3 798
Income Taxes
Non-cash investing and financing activities    
Common shares issued for extinguishment of debenture liability 1,457
Adjustment to opening retained earnings for the adoption of ASC 606 1,287
Deconsolidation of Sysorex as a result of spin-off 11,838
Common shares issued for extinguishment of liability 1,130
Common shares issued for extinguishment of debt 3,114
Right of use asset obtained in exchange for lease liability 1,003
Common shares issued for GTX acquisition 650
Common shares issued for Locality acquisition 514
Common shares issued for Jibestream acquisition $ 862

Source