Quarterly report pursuant to Section 13 or 15(d)

CONDENSED STATEMENTS OF CASH FLOWS

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CONDENSED STATEMENTS OF CASH FLOWS - USD ($)
 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
CASH FLOWS FROM OPERATING ACTIVITIES    
Net loss $ (13,992,000) $ (25,991,000)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 1,098,000 657,000
Stock-based compensation 1,570,000 5,266,000
Amortization of discount on convertible notes 0 2,684,000
Beneficial conversion feature 0 7,067,000
Changes in assets and liabilities:    
Accounts receivable (679,000) 171,000
Prepaid expenses and other current assets (430,000) (852,000)
Accounts payable and accrued expenses (125,000) 601,000
Deferred revenue (121,000) 68,000
Accrued interest on convertible notes 5,000 187,000
Net cash used in operating activities (12,674,000) (10,142,000)
CASH FLOWS FROM INVESTING ACTIVITIES    
Cash paid for acquisition of Framerate (Note 4) 0 (1,491,000)
Purchase of property and equipment (7,000) (56,000)
Capitalization of software development costs (877,000) (839,000)
Acquisition of other intangible assets (104,000) (138,000)
Net cash used in investing activities (988,000) (2,524,000)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from issuance of common stock, net of issuance costs (Note 6) 14,356,000 22,458,000
Proceeds from note payable (Note 5) 1,200,000 0
Proceeds from common stock purchase warrant exercises 10,000 20,000
Net cash provided by financing activities 15,566,000 22,478,000
INCREASE IN CASH 1,904,000 9,812,000
Cash - beginning of period 8,442,000 2,774,000
Cash - end of period 10,346,000 12,586,000
SUPPLEMENTAL NONCASH INVESTING AND FINANCING ACTIVITIES    
Automatic conversion of convertible debt to common stock 0 13,793,000
Issuance of common stock for Framerate Acquisition (Note 4) $ 0 $ 1,000,000