Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.22.1
Consolidated Statements of Cash Flows - USD ($)
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES    
Net loss $ (20,748,000) $ (18,732,000)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 3,323,000 1,368,000
Stock-based compensation 2,381,000 2,004,000
Gain on loan forgiveness (Note 6) (1,213,000)  
Change in valuation allowance (Note 5) (2,550,000) 3,805,000
Changes in assets and liabilities:    
Accounts receivable (4,270,000) (295,000)
Prepaid expenses and other current assets (348,000) (55,000)
Accounts payable and accrued expenses 1,328,000 977,000
Deferred revenue (54,000) (151,000)
Deferred taxes (38,000) 0
Accrued interest on notes payable 5,000 8,000
Net cash used in operating activities (22,707,000) (14,876,000)
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchase of property and equipment (22,000) (9,000)
Capitalization of software development costs (1,065,000) (1,035,000)
Acquisition of other intangible and other assets (205,000) (146,000)
Net cash used in investing activities (4,203,000) (1,190,000)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from issuance of common stock, net of issuance costs 33,390,000 14,356,000
Proceeds from note payable (Note 6) 0 1,200,000
Proceeds from stock option exercises 111,000 10,000
Net cash provided by financing activities 33,501,000 15,566,000
(DECREASE)INCREASE IN CASH AND CASH EQUIVALENTS 6,591,000 (500,000)
CASH AND CASH EQUIVALENTS – beginning of year 7,942,000 8,442,000
CASH AND CASH EQUIVALENTS – end of year 14,533,000 7,942,000
Mobcrush Acquisition [Member]    
Adjustments to reconcile net loss to net cash used in operating activities:    
Change in valuation allowance (Note 5) (3,073,000) 0
CASH FLOWS FROM INVESTING ACTIVITIES    
Cash acquired in connection with Mobcrush Acquisition (Note 5) 586,000 0
SUPPLEMENTAL NONCASH FINANCING ACTIVITIES    
Issuance of common stock in connection with Acquisition 59,855,000 0
Bannerfy Acquisition [Member]    
CASH FLOWS FROM INVESTING ACTIVITIES    
Cash paid in connection with Acquisition, net (Note 5) (497,000) 0
SUPPLEMENTAL NONCASH FINANCING ACTIVITIES    
Issuance of common stock in connection with Acquisition 1,705,000 0
Bloxbiz Acquisition [Member]    
CASH FLOWS FROM INVESTING ACTIVITIES    
Cash paid in connection with Acquisition, net (Note 5) (3,000,000) 0
SUPPLEMENTAL NONCASH FINANCING ACTIVITIES    
Issuance of common stock in connection with Acquisition 3,000,000 0
Framerate Acquisition [Member]    
SUPPLEMENTAL NONCASH FINANCING ACTIVITIES    
Issuance of common stock in connection with Acquisition $ 0 $ 245,000