v3.25.1
Unaudited Condensed Consolidated Statement of Cash Flows - USD ($)
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
CASH FLOWS FROM OPERATING ACTIVITIES    
Net loss $ (6,280,000) $ (11,744,000)
Adjustments to reconcile net loss to cash (used in) provided by operating activities    
Gain on settlement of accounts payable (449,000)
Merger and acquisition costs 1,194,000
Unrealized loss (gain) on digital assets 127,000 (1,703,000)
Depreciation expense 1,071,000 3,247,000
Stock-based compensation 772,000 208,000
Unrealized loss on marketable securities 66,000 216,000
Change in fair value of notes payable 9,638,000
Interest expense 287,000
Digital asset revenue (1,558,000) (7,490,000)
Changes in operating assets and liabilities    
Proceeds from the sale of digital assets 1,647,000 6,106,000
Accounts receivable (175,000) 485,000
Prepaid expense (914,000) (28,000)
Accounts payable and accrued liabilities 1,280,000 (205,000)
Net cash used in operating activities (3,219,000) (983,000)
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchase of miners (558,000)
Refundable deposit (1,222,000)
Net cash used in investing activities (1,780,000)
CASH FLOWS FROM FINANCING ACTIVITIES    
Notes payable for insurance 343,000
Payment for insurance payable (47,000) (90,000)
Interest payment (71,000)
Proceeds from registered direct offering 2,095,000
Cost incurred for registered direct offering (75,000)
Proceeds from issuance of common stock ATM 2,409,000 1,395,000
Cash expenses for issuance of common stock (72,000)
Cash acquired in connection with the reverse recapitalization 500,000
Net cash provided by financing activities 4,582,000 1,805,000
Net change in cash (417,000) 822,000
Cash-beginning of period 735,000 915,000
Cash-end of period 318,000 1,737,000
Reconciliation of cash and cash equivalents and restricted cash    
Cash and cash equivalents 318,000 1,737,000
Restricted cash 1,263,000
Cash and cash equivalents and restricted cash 1,581,000 1,737,000
Supplemental Disclosures of Cash Flow Information:    
Cash paid for interest
Cash paid for income taxes
Non-Cash investing and financing activities:    
Accrued expenses for issuance of common stock 55,000
Value of common stock issued for acquisition of Akerna’s net book value (2,256,000)
Digital assets used for principal and interest payment on BTC Note 1,750,000
Fair value of shares issued for services 250,000
Accrued expenses for issuance of common stock $ 773,000

Source

10-Q PDF
XBRL