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, 2019
Sep. 30, 2018
CASH FLOWS FROM OPERATING ACTIVITIES    
Net loss $ (25,991,000) $ (13,143,000)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 657,000 791,000
Stock-based compensation 5,266,000 2,451,000
Amortization of discount on convertible notes (Note 6) 2,684,000 1,537,000
Beneficial conversion feature 7,067,000 0
In-kind contribution of services 0 481,000
Changes in assets and liabilities:    
Accounts receivable 171,000 4,000
Prepaid expenses and other current assets (852,000) (362,000)
Accounts payable and accrued expenses 601,000 50,000
Deferred revenue 68,000 0
Accrued interest on convertible notes 187,000 311,000
Net cash used in operating activities (10,142,000) (7,880,000)
CASH FLOWS FROM INVESTING ACTIVITIES    
Framerate acquisition (1,491,000) 0
Purchase of property and equipment (56,000) (190,000)
Capitalization of software development costs (839,000) (192,000)
Acquisition of other intangible assets (138,000) (67,000)
Net cash used in investing activities (2,524,000) (449,000)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from issuance of common stock, net of issuance costs 22,458,000 0
Proceeds from convertible note payable, net 0 12,611,000
Proceeds from common stock purchase warrant exercises 20,000 0
Net cash provided by financing activities 22,478,000 12,611,000
Increase in cash 9,812,000 4,282,000
Cash - beginning of period 2,774,000 1,709,000
Cash - end of period 12,586,000 5,991,000
SUPPLEMENTAL NONCASH FINANCING ACTIVITIES    
Automatic conversion of convertible debt to common stock (Note 6) 13,793,000 3,000,000
Issuance of common stock for Framerate Acquisition (Note 5) 1,000,000 0
Common stock purchase warrants - discount on convertible debt 0 5,207,000
Common stock issued for prepaid services $ 0 $ 72,000