Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

v3.22.1
Condensed Consolidated Statements of Cash Flows - USD ($)
 3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash Flows Used in Operating Activities    
Net loss $ (11,557,000) $ (12,539,000)
Adjustment to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 317,000 293,000
Amortization of intangible assets 1,489,000 650,000
Amortization of right of use asset 169,000 181,000
Stock based compensation 1,533,000 5,096,000
Earnout payment expense (2,827,000) 0
Loss on exchange of debt for equity 0 30,000
Amortization of debt discount 0 224,000
Related party note, gain on foreign currency transaction 0 (363,000)
Unrealized gain on note (167,000) 0
Provision for valuation allowance for held for sale loan 0 117,000
Income tax expense 0 9,000
Unrealized loss on equity securities 1,503,000 0
Other 146,000 0
Changes in operating assets and liabilities:    
Accounts receivable and other receivables (239,000) 426,000
Inventory 181,000 (279,000)
Prepaid expenses and other current assets (3,607,000) 135,000
Other assets 41,000 (227,000)
Accounts payable (1,345,000) 480,000
Accrued liabilities (109,000) 421,000
Income tax liabilities (40,000) 0
Deferred revenue (666,000) (235,000)
Operating lease obligation (141,000) (176,000)
Other liabilities 0 96,000
Net Cash Used in Operating Activities (15,319,000) (5,661,000)
Cash Flows Used in Investing Activities    
Purchase of property and equipment (81,000) (109,000)
Purchases of capitalized software (107,000) (253,000)
Investments in short term investments 0 (42,059,000)
Sales of treasury bills 28,001,000 0
Purchase of Systat licensing agreement 0 (900,000)
Net Cash Provided By (Used in) Investing Activities 27,813,000 (43,321,000)
Cash From Financing Activities    
Net proceeds from issuance of preferred stock and warrants 46,906,000 0
Net proceeds from issuance of common stock and warrants 0 77,853,000
Cash paid for redemption of preferred stock series 7 (49,250,000) 0
Restricted stock forfeiture for settlement of employee taxes (336,000) 0
Loans to related party 0 (117,000)
Net proceeds from promissory notes 364,000 0
Repayment of CXApp acquisition liability (1,787,000) 0
Repayment of acquisition liability to Locality shareholders 0 (467,000)
Net Cash (Used In) Provided By Financing Activities (4,103,000) 77,269,000
Effect of Foreign Exchange Rate on Changes on Cash (19,000) (10,000)
Net Increase in Cash and Cash Equivalents 8,372,000 28,277,000
Cash and Cash Equivalents - Beginning of period 52,480,000 17,996,000
Cash and Cash Equivalents - End of period 60,852,000 46,273,000
Cash paid for:    
Interest 1,000 0
Income Taxes 100,000 0
Non-cash investing and financing activities    
Common shares issued for extinguishment of debt 1,500,000 1,500,000
Common shares issued for CXApp Earnout Payment 3,697,000 0
Common shares issued in exchange for warrants $ 14,000 $ 0