Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Cash Flows Used in Operating Activities    
Net loss $ (33,982) $ (24,561)
Adjustment to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 1,123 1,570
Amortization of intangible assets 3,633 4,616
Impairment of goodwill 636
Amortization of right of use asset 398
Stock based compensation 3,489 1,494
Amortization of technology 66 66
Loss on exchange of debt for equity 294
Change in fair value of derivative liability (48)
Amortization of debt discount 2,221 703
Provision for doubtful accounts 558 (659)
Gain on earnout (934)
Gain on the settlement of liabilities (307)
Provision for the valuation allowance held for sale loan 10,627
Gain on the sale of Sysorex Arabia (23)
Income tax benefit (584)
Other (223) (73)
Changes in operating assets and liabilities:    
Accounts receivable and other receivables 46 744
Inventory 171 222
Other current assets 156 481
Prepaid licenses and maintenance contracts (5)
Other assets (412) (22)
Accounts payable 1,189 (8,445)
Accrued liabilities 521 (2,412)
Deferred revenue (507) 246
Other liabilities 551 (54)
Total Adjustments 23,317 (2,204)
Net Cash Used in Operating Activities (10,665) (26,765)
Cash Flows Used in Investing Activities    
Purchase of property and equipment (89) (88)
Investment in capitalized software (927) (804)
Investment in Pod technology (175)
Cash spun off as a result of de-consolidation (362)
Cash paid for the acquisition of GTX (250)
Cash paid for the acquisition of Locality (204)
Cash paid for the acquisition of Jibestream (3,714)
Cash acquired in the Locality acquisition 70
Cash acquired in the Jibestream acquisition 6
Net Cash Flows Used in Investing Activities (5,108) (1,429)
Cash Flows From Financing Activities    
Net proceeds (repayments) to bank facility 127 (1,119)
Net proceeds from issuance of common stock, preferred stock and warrants 20,725 28,960
Repayment of notes payable (70) (181)
Loans to related party (10,276) (3,244)
Repayments from related party 1,832 1,040
Advances to related party (31)
Loan to Jibestream (141)
Loan to GTX (50)
Net proceeds from promissory notes 7,500 3,540
Repayment of acquisition liability to Locality shareholders (210)
Net Cash Provided By Financing Activities 19,406 28,996
Effect of Foreign Exchange Rate on Changes on Cash 68 (5)
Net Increase in Cash, Cash Equivalents and Restricted Cash 3,701 797
Cash, Cash Equivalents and Restricted Cash - Beginning of period 1,148 351
Cash, Cash Equivalents and Restricted Cash - End of period (Note 2) 4,849 1,148
Cash paid for:    
Interest 20 853
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 7,302 1,537
Right of use asset obtained in exchange for lease liability 1,675
Common shares issued for GTX acquisition 650
Common shares issued for Locality acquisition 513
Common shares issued for Jibestream acquisition $ 1,349