Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.22.2.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
CASH FLOWS FROM OPERATING ACTIVITIES    
Net loss $ (69,238,000) $ (13,615,000)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 4,055,000 1,962,000
Stock-based compensation 3,284,000 1,609,000
Write off of intangible asset 423,000  
Gain on loan forgiveness (Note 5) 0 (1,213,000)
Change in valuation allowance (Note 4) 0 (3,078,000)
Change in fair value of convertible notes (Note 5) 285,000 0
Amortization of convertible notes discount 120,000 0
Changes in assets and liabilities:    
Accounts receivable 1,128,000 (1,664,000)
Prepaid expense and other current assets (34,000) (225,000)
Accounts payable and accrued expense 1,998,000 (78,000)
Deferred revenue (42,000) 24,000
Deferred taxes (46,000) 0
Accrued interest on note payable 31,000 5,000
Net cash used in operating activities (16,036,000) (16,273,000)
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchase of property and equipment (149,000) (12,000)
Purchase of third-party game properties (500,000) 0
Capitalization of software development costs (766,000) (560,000)
Acquisition of other intangible assets (99,000) (176,000)
Net cash used in investing activities (1,514,000) (658,000)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from issuance of common stock, net of issuance costs 320,000 33,390,000
Proceeds from convertible notes, net (Note 5) 4,000,000 0
Payments on convertible notes (160,000) 0
Proceeds from common stock option exercises 0 111,000
Net cash provided by financing activities 4,160,000 33,501,000
(DECREASE) INCREASE IN CASH (13,390,000) 16,570,000
Cash and Cash Equivalents - beginning of period 14,533,000 7,942,000
Cash and Cash Equivalents - end of period 1,143,000 24,512,000
Mobcrush Acquisition [Member]    
CASH FLOWS FROM INVESTING ACTIVITIES    
Cash acquired in connection with Mobcrush Acquisition (Note 4) 0 586,000
SUPPLEMENTAL NONCASH INVESTING AND FINANCING ACTIVITIES    
Issuance of common stock in connection with Acquisition 0 59,855,000
Bannerfy Acquisition [Member]    
CASH FLOWS FROM INVESTING ACTIVITIES    
Cash paid in connection with Bannerfy Acquisition, net (Note 4) 0 (496,000)
SUPPLEMENTAL NONCASH INVESTING AND FINANCING ACTIVITIES    
Issuance of common stock in connection with Acquisition $ 220,000 $ 1,705,000