Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

v3.21.2
Condensed Consolidated Statements of Cash Flows - USD ($)
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Cash Flows Used in Operating Activities    
Net income (loss) $ 1,967,000 $ (13,469,000)
Adjustment to reconcile net income (loss) to net cash used in operating activities:    
Depreciation and amortization 625,000 384,000
Amortization of intangible assets 2,007,000 1,524,000
Amortization of right of use asset 370,000 356,000
Stock based compensation 7,149,000 685,000
Loss on exchange of debt for equity 30,000 132,000
Amortization of debt discount 224,000 1,909,000
Accrued interest income, related party (1,627,000) (32,000)
Unrealized gain on note (490,000) 0
(Recovery) provision for valuation allowance for held for sale loan (7,345,000) 835,000
Provision for valuation allowance for related party receivable 0 648,000
Gain on settlement of related party promissory note and loan related party receivable (49,817,000) 0
Deferred income tax (4,507,000) (87,000)
Unrealized loss on equity securities 28,965,000 0
Other 57,000 21,000
Changes in operating assets and liabilities:    
Accounts receivable and other receivables 532,000 (107,000)
Inventory (555,000) 22,000
Prepaid expenses and other current assets (319,000) (905,000)
Other assets 203,000 (13,000)
Accounts payable (331,000) (1,539,000)
Accrued liabilities 2,494,000 (593,000)
Income tax liabilities 6,711,000 0
Deferred revenue (238,000) 105,000
Operating lease obligation (364,000) (362,000)
Other liabilities 96,000 117,000
Net Cash Used in Operating Activities (14,163,000) (10,369,000)
Cash Flows Used in Investing Activities    
Purchase of property and equipment (149,000) (39,000)
Purchases of capitalized software (373,000) (433,000)
Purchases of other short term investments (2,000,000) 0
Purchases of treasury bills (63,362,000) 0
Sales of treasury bills 28,000,000 0
Purchase of Systat licensing agreement (900,000) 0
Acquisition of Game Your Game 184,000 0
Acquisition of CXApp (15,186,000) 0
Acquisition of Visualix (61,000) 0
Net Cash Used in Investing Activities (53,847,000) (472,000)
Cash From Financing Activities    
Net repayments to bank facility 0 (150,000)
Net proceeds from issuance of common stock and warrants 77,853,000 41,771,000
Taxes paid related to net share settlement of restricted stock units (1,687,000) 0
Net proceeds from promissory notes 0 1,000
Loans to related party (117,000) (1,035,000)
Repayments from related party 0 200,000
Net proceeds from promissory notes 0 5,000,000
Repayment of CXApp acquisition liability (137,000) 0
Repayment of acquisition liability to Nanotron shareholders (467,000) 0
Repayment of acquisition liability to Locality shareholders (500,000) (250,000)
Net Cash Provided By Financing Activities 74,945,000 45,537,000
Effect of Foreign Exchange Rate on Changes on Cash (19,000) (15,000)
Net Increase in Cash, Cash Equivalents and Restricted Cash 6,916,000 34,681,000
Cash, Cash Equivalents and Restricted Cash - Beginning of period 17,996,000 4,849,000
Cash, Cash Equivalents and Restricted Cash - End of period (Note 3) 24,912,000 39,530,000
Cash paid for:    
Interest 1,000 2,000
Income Taxes 0 0
Non-cash investing and financing activities    
Common shares issued for extinguishment of liability 0 200,000
Common shares issued for extinguishment of debt 1,500,000 8,786,000
Right of use asset obtained in exchange for lease liability 0 6,000
Settlement of Sysorex Note 7,462,000 0
Investment in equity securities 58,905,000 0
Common shares issued for CXApp acquisition 10,000,000 0
Common shares issued for Game Your Game acquisition 1,403,000 0
Common shares issued for Visualix asset acquisition $ 429,000 $ 0