Quarterly report pursuant to Section 13 or 15(d)

Consolidated Condensed Statements of Cash Flows (Unaudited)

v3.21.2
Consolidated Condensed Statements of Cash Flows (Unaudited) - USD ($)
 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
CASH FLOWS FROM OPERATING ACTIVITIES    
Net loss $ (13,615,000) $ (13,992,000)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 1,962,000 1,098,000
Stock-based compensation 1,609,000 1,570,000
Gain on loan forgiveness (Note 5) (1,213,000) 0
Change in valuation allowance (Note 4) (3,078,000) 0
Changes in assets and liabilities:    
Accounts receivable (1,664,000) (679,000)
Prepaid expenses and other current assets (225,000) (430,000)
Accounts payable and accrued expenses (78,000) (125,000)
Deferred revenue 24,000 (121,000)
Accrued interest on note payable 5,000 5,000
Net cash used in operating activities (16,273,000) (12,674,000)
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchase of property and equipment (12,000) (7,000)
Capitalization of software development costs (560,000) (877,000)
Acquisition of other intangible assets (176,000) (104,000)
Net cash used in investing activities (658,000) (988,000)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from issuance of common stock, net of issuance costs (Note 6) 33,390,000 14,356,000
Proceeds from note payable (Note 5) 0 1,200,000
Proceeds from common stock option exercises 111,000 10,000
Net cash provided by financing activities 33,501,000 15,566,000
INCREASE IN CASH 16,570,000 1,904,000
Cash - beginning of period 7,942,000 8,442,000
Cash - end of period 24,512,000 10,346,000
Mobcrush Acquisition [Member]    
CASH FLOWS FROM OPERATING ACTIVITIES    
Net loss 2,300,000  
CASH FLOWS FROM INVESTING ACTIVITIES    
Cash acquired in connection with Mobcrush Acquisition (Note 4) 586,000 0
SUPPLEMENTAL NONCASH INVESTING AND 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 Bannerfy Acquisition, net (Note 4) (496,000) 0
SUPPLEMENTAL NONCASH INVESTING AND FINANCING ACTIVITIES    
Issuance of common stock in connection with Acquisition 1,705,000 0
Framerate Acquisition [Member]    
SUPPLEMENTAL NONCASH INVESTING AND FINANCING ACTIVITIES    
Issuance of common stock in connection with Acquisition $ 0 $ 245,000