Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash flows from operating activities:    
Net loss $ (17,372) $ (16,429)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 1,865 2,047
Loss on disposal of assets 344
Loss on sale of receivables 306  
Share-based compensation 2,421 990
Common stock issued to vendors in exchange for services 79
Amortization of right-of-use asset 120 1,049
Gain on termination of lease 33
Non-cash interest 646 776
Amortization of debt discount and debt issuance costs 62
Impairment of goodwill and intangible assets 7,588
Accounts receivable and unbilled receivable 519 74
Prepaid expense and other assets (66) 425
Security deposits (14)
Accounts payable (1,477) 729
Accrued expenses (173) (235)
Accrued fiduciary obligations (1,625) 1,713
Operating lease liabilities (250) (1,345)
Due to related party (3)
Other liabilities 731 1,028
Net cash used in operating activities (6,705) (8,739)
Disposal of property and equipment 18
Net cash provided by investing activities 18
Proceeds from issuance of common stock in a public offering, net 6,432
Proceeds from sale of future cash receipts on accounts receivable 1,509
Proceeds from issuance of convertible debentures (Note 9) 5,978
Payments of convertible debenture issuance costs (499)
Payments to buyer of receivables (Note 3) (1,816)
Payments to seller for acquisition (Note 3) (631)
Proceeds from issuance of common stock in a private offering, net 2,727
Net cash provided by financing activities 7,268 6,432
Net increase (decrease) in cash, cash equivalents and restricted cash 563 (2,289)
Cash, cash equivalents and restricted cash at beginning of period 13,492 23,117
Cash, cash equivalents and restricted cash at end of period 14,055 20,828
Reconciliation of cash, cash equivalents, and restricted cash reported in the condensed consolidated balance sheet    
Cash and cash equivalents 1,293 8,726
Restricted cash 12,762 12,102
Total cash, cash equivalents and restricted cash shown in the condensed consolidated statement of cash flows 14,055 20,828
Supplemental disclosure of cash flow information    
Cash paid for interest 1,259
Supplemental disclosure of non-cash activity    
Measurement period adjustment to goodwill $ 198