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v3.22.1

Summary of Significant Accounting Policies (Tables) | 3 Months Ended
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Mar. 31, 2022
Accounting Policies [Abstract] |
Schedules of Concentration Risk | The following table sets forth our concentration of accounts receivable, net of specific allowances for doubtful accounts.
| March 31, 2022 |  | December 31, 2021
Customer A | 19 | % |  | — | %
Customer B | 14 | % |  | — | %
Customer C | 10 | % |  | 18 | %
Customer D | — | % |  | 20 | %
The following table sets forth our concentration of revenue sources as a percentage of total net revenues.
| Three Months Ended March 31, |  |
| 2022 |  | 2021 |  |  |  |
Customer B | 1 | % |  | 15 | % |  |  |  |
Customer E | — | % |  | 17 | % |  |  |  |
Customer F | — | % |  | 13 | % |  |  |  |
Customer G | 1 | % |  | 10 | % |  |  |  |
Schedule of Digital Assets | The following tables set forth changes in our bitcoin and ethereum holdings:
Bitcoin | Digital Asset Original Cost Basis |  | Digital Asset Impairment Losses |  | Digital Asset Carrying Value |  |  |  |
Balance as of December 31, 2021 | $ | 36,963 |  |  | $ | (8,554) |  |  | $ | 28,409 |  |  |  |  |
Purchases | 489 |  | — |  | 489 |  |  |  |
Received from customers, net of expenses | 36 |  | — |  | 36 |  |  |  |
Impairment loss | — |  | (7,633) |  | (7,633) |  |  |  |
Balance as of March 31, 2022 | $ | 37,488 |  |  | $ | (16,187) |  |  | $ | 21,301 |  |  |  |  |
Ethereum | Digital Asset Original Cost Basis |  | Digital Asset Impairment Losses |  | Digital Asset Carrying Value |  |  |  |
Balance as of December 31, 2021 | $ | 4,714 |  |  | $ | (670) |  |  | $ | 4,044 |  |  |  |  |
Purchases | — |  | — |  | — |  |  |  |
Received from customers, net of expenses | 491 |  | — |  | 491 |  |  |  |
Impairment loss | — |  | (1,658) |  | (1,658) |  |  |  |
Balance as of March 31, 2022 | $ | 5,205 |  |  | $ | (2,328) |  |  | $ | 2,877 |  |  |  |  |
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share | The following table sets forth common stock equivalents that have been excluded from the computation of dilutive weighted average shares outstanding as their inclusion would have been anti-dilutive:
| Three Months Ended March 31, |  |
| 2022 |  | 2021 |  |  |  |
Convertible notes | — |  | 4,920,000 |  |  |  |
Warrants | 5,636,801 |  | 5,996,112 |  |  |  |
Options | 897,229 |  | 1,087,033 |  |  |  |
Restricted stock units | 3,480,102 |  | 5,545,454 |  |  |  |
Restricted shares | — |  | 574 |  |  |  |
Total | 10,014,132 |  | 17,549,173 |  |  |  |
Financial Instruments Measured at Fair Value | Determining which category an asset or liability falls within the hierarchy requires significant judgment. Our financial instruments measured at fair value as of March 31, 2022 are set forth below:
| Level 1 |  | Level 2 |  | Level 3 |  | Total
Assets: |  |  |  |  |  |  |
Digital assets | $ | 24,244 |  |  | $ | — |  |  | $ | — |  |  | $ | 24,244 |
Total | $ | 24,244 |  |  | $ | — |  |  | $ | — |  |  | $ | 24,244 |
Liabilities: |  |  |  |  |  |  |
Warrant liability | $ | — |  |  | $ | 3,818 |  |  | $ | — |  |  | $ | 3,818 |
Total | $ | — |  |  | $ | 3,818 |  |  | $ | — |  |  | $ | 3,818 |
Our financial instruments measured at fair value as of December 31, 2021 are set forth below:
| Level 1 |  | Level 2 |  | Level 3 |  | Total
Assets: |  |  |  |  |  |  |
Digital assets | $ | 32,581 |  |  | $ | — |  |  | $ | — |  |  | $ | 32,581 |
Total | $ | 32,581 |  |  | $ | — |  |  | $ | — |  |  | $ | 32,581 |
| Level 1 |  | Level 2 |  | Level 3 |  | Total
Liabilities: |  |  |  |  |  |  |
Warrant liability | $ | — |  |  | $ | 3,605 |  |  | $ | — |  |  | $ | 3,605 |
Total | $ | — |  |  | $ | 3,605 |  |  | $ | — |  |  | $ | 3,605 |
Summary of Calculated Aggregate Fair Values and Assumptions | The following table sets forth the assumptions used to calculate the fair values of the liability classified warrant issued in connection with our 2020 Convertible Notes as of the dates presented:
| March 31, 2022 |  | December 31, 2021
Strike price per share | $ | 2.25 |  |  | $ | 2.25 |
Closing price per share | $ | 2.78 |  |  | $ | 2.63 |
Term (years) | 1.28 |  | 1.53
Volatility | 200 | % |  | 186 | %
Risk-free rate | 1.87 | % |  | 0.56 | %
Dividend Yield | — |  | —

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- Definition Tabular disclosure of input and valuation technique used to measure fair value and change in valuation approach and technique for each separate class of asset and liability measured on recurring and nonrecurring basis. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (bbb) -URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258 + Details
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- Definition Tabular disclosure of liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). Where the quoted price in an active market for the identical liability is not available, the Level 1 input is the quoted price of an identical liability when traded as an asset. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258 + Details
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- Definition Tabular disclosure of securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) in the future that were not included in the computation of diluted EPS because to do so would increase EPS amounts or decrease loss per share amounts for the period presented, by antidilutive securities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=124432515&loc=d3e3550-109257 + Details
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