Annual report pursuant to Section 13 and 15(d)

STATEMENTS OF CASH FLOWS

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STATEMENTS OF CASH FLOWS - USD ($)
 12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
CASH FLOWS FROM OPERATING ACTIVITIES    
Net loss $ (18,732,000) $ (30,679,000)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 1,368,000 862,000
Stock-based compensation 2,004,000 6,217,000
Amortization of discount on convertible notes (Note 6) 0 2,684,000
Beneficial conversion feature (Note 6) 0 7,067,000
In-kind contribution of services 0 0
Changes in assets and liabilities:    
Accounts receivable (295,000) 199,000
Prepaid expenses and other current assets (55,000) (329,000)
Accounts payable and accrued expenses 977,000 40,000
Deferred revenue (151,000) 106,000
Accrued interest on convertible notes 8,000 187,000
Net cash used in operating activities (14,876,000) (13,646,000)
CASH FLOWS FROM INVESTING ACTIVITIES    
Framerate acquisition, net 0 (1,506,000)
Purchase of property and equipment (9,000) (73,000)
Capitalization of software development costs (1,035,000) (1,079,000)
Acquisition of other intangible assets (146,000) (506,000)
Net cash used in investing activities (1,190,000) (3,164,000)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from issuance of common stock, net of issuance costs 14,356,000 22,458,000
Proceeds from note payable (Note 6) 1,200,000 0
Proceeds from stock option and warrant exercises 10,000 20,000
Net cash provided by financing activities 15,566,000 22,478,000
(Decrease) increase in cash and cash equivalents (500,000) 5,668,000
Cash and cash equivalents - beginning of year 8,442,000 2,774,000
Cash and cash equivalents - end of year 7,942,000 8,442,000
SUPPLEMENTAL NONCASH FINANCING ACTIVITIES    
Automatic conversion of convertible debt to common stock (Note 6) 0 13,793,000
Issuance of common stock for Framerate Acquisition (Note 5) $ 245,000 $ 1,000,000