v3.22.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash flows from operating activities:    
Net loss $ (21,952,893) $ (6,457,703)
Adjustment to reconcile net loss to net cash used in operating activities:    
Equity in losses of investment 3,782
Bad debt 174,794 (10,516)
Stock-based compensation expense 304,237 503,379
Amortization of deferred contract cost 113,251 118,519
Non-cash interest expense 769,773
Depreciation and amortization 1,993,391 1,052,882
Foreign currency loss (gain) 5,596 (18,801)
Impairment of long-lived assets 15,478,521
Change in fair value of convertible notes 1,433,000 1,991,272
Change in fair value of derivative liability (18,051) 175,996
Changes in operating assets and liabilities:    
Accounts receivable (1,335,939) (177,832)
Prepaid expenses and other current assets 178,869 236,339
Accounts payable and accrued liabilities 445,969 152,455
Deferred tax liabilities (110,107)
Deferred revenue (296,032) 286,637
Net cash used in operating activities (3,585,394) (1,373,818)
Cash flows from investing activities:    
Developed software additions (647,022) (704,637)
Net cash used in investing activities (647,022) (704,637)
Cash flows from financing activities:    
Value of shares withheld related to tax withholdings (5,615) (333,847)
Net cash used in financing activities (5,615) (333,847)
Effect of exchange rate changes on cash and restricted cash (8,544) (1,579)
Net change in cash and restricted cash (4,246,575) (2,413,881)
Cash and restricted cash - beginning of period 14,442,526 18,340,640
Cash and restricted cash - end of period 10,195,951 15,926,759
Cash paid for interest
Cash paid for taxes 5,210
Supplemental Disclosure of non-cash investing and financing activity:    
Settlement of convertible notes in common stock 3,300,000 8,467,292
Conversion of exchangeable shares to common stock 18,620 7,803,475
Settlement of other liabilities in common stock 45,065 377,325
Stock-based compensation capitalized as software development 12,618
Vesting of restricted stock units 4
Capitalized software included in accrued expenses 1,114,108
Fixed asset purchases accrued or in accounts payable 24,614
Shares returned in connection with 365 Cannabis acquisition 940,000
365 Cannabis working capital funds released from accrued expenses 160,000
365 Cannabis working capital adjustment funds recorded in other receivables $ 400,000

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