v3.24.1.u1
Consolidated Statements of Cash Flows - USD ($)
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (12,407,000) $ (9,161,000)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation expense 758,000 465,000
Change in provision for doubtful accounts 47,000 0
Amortization of intangible assets 1,337,000 25,000
Amortization of right-of-use assets - operating leases 417,000 106,000
Amortization of right-of-use assets - finance leases 15,000 0
Write-off of digital assets 28,000 43,000
Goodwill impairment 13,895,000 0
Gain on remeasurement of fair value of equity interest in affiliate prior to acquisition (11,352,000) 0
Equity in net loss of affiliate 1,440,000 1,739,000
Stock-based compensation 5,376,000 2,974,000
Accounts receivable (3,449,000) (34,000)
Inventory (2,217,000) (267,000)
Unbilled revenue (47,000) (41,000)
Prepaid expense 22,000 52,000
Notes receivable (256,000) 0
Other assets 0 49,000
VAT receivable 91,000 59,000
Accounts payable and accrued expenses 3,231,000 453,000
Operating lease liabilities (464,000) (101,000)
Income taxes payable 45,000 37,000
Contract liabilities 6,000 0
Liabilities from discontinued operations (112,000) 0
Net cash used in operating activities (3,596,000) (3,602,000)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of property and equipment (647,000) (716,000)
Cash acquired in acquisition of subsidiary 7,352,000 0
Capital contributions to equity method investee (1,506,000) (7,000,000)
Net cash provided by (used in) investing activities 5,199,000 (7,716,000)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Repayments of note payable, related party, net (10,000) (7,000)
Issuance of common stock for PIPE transaction 6,000,000 13,832,000
Payment of stock issuance costs 0 (754,000)
Proceeds from exercise of warrants 184,000 0
Payments on finance lease liabilities (15,000) 0
Repayments of notes payable (299,000) (60,000)
Net cash provided by financing activities 5,860,000 13,011,000
Effect of exchange rate on cash (47,000) (70,000)
Net increase in cash 7,416,000 1,623,000
Cash beginning of year 18,891,000 17,268,000
Cash end of year 26,307,000 18,891,000
SUPPLEMENTAL CASH FLOW INFORMATION    
Interest 531,000 11,000
Income tax 0 10,000
Supplemental schedule of non-cash investing and financing activities:    
Business combination without transfer of consideration $ 39,859,000 $ 0

Source

PDF HTML 10-K Filing
ZIP XLS HTML XBRL