v3.23.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Cash Flows From Operating Activities    
Net loss $ (1,893,787) $ (3,751,197)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation 5,126 401,296
Non-cash rent expense 227,136 213,209
Digital currency received as revenue (26) (177,946)
Expenses paid using digital assets 395
Change in fair value of warrant liabilities 1,300
Depreciation and amortization 578,560 808,612
Changes in operating assets and liabilities:    
Accounts receivable (233,684) (501,657)
Interest receivable (624,815)
Prepaid expenses and other current assets (264,837) 180,703
Accounts payable 164,163 47,343
Accrued expenses and other current liabilities 251,495 696,309
Operating lease liability (280,615) (267,215)
Deferred revenue 1,037,772 224,498
Total Adjustments 860,670 1,626,452
Net Cash Used In Operating Activities (1,033,117) (2,124,745)
Cash Flows From Investing Activities    
Expenditures on software development costs (49,950)
Purchases of short-term investments (4,500,000)
Investment in digital assets (41,026)
Purchases of intangibles (508,500)  
Purchases of property and equipment (36,934) (9,446)
Net Cash Used In Investing Activities (5,095,384) (50,472)
Cash Flows From Financing Activities    
Repurchases of common stock (1,459,078)
Net Cash Used In Financing Activities (1,459,078)
Effect of Exchange Rate Changes on Cash 7,328 16,723
Net Decrease In Cash, Cash Equivalents, And Restricted Cash (7,580,251) (2,158,494)
Cash, cash equivalents, and restricted cash - Beginning of Period 16,167,442 97,887,030
Cash, cash equivalents, and restricted cash - End of Period 8,587,191 95,728,536
Cash and restricted cash consisted of the following:    
Cash 3,587,191 90,728,536
Restricted cash 5,000,000 5,000,000
Tota cash and restricted cash 8,587,191 95,728,536
Non-Cash Investing and Financing Activities:    
ROU asset and lease liability, net of deferred rent, recognized upon adoption of ASU 2016-02 $ 6,713,759

Source