XML 29 R20.htm IDEA: XBRL DOCUMENT v3.22.2.2

Summary of Significant Accounting Policies (Tables)

9 Months Ended

Sep. 30, 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.

			September 30, 2022						December 31, 2021
Customer A			24		%				—		%
Customer B			15		%				—		%
Customer C			5		%				18		%
Customer D			—		%				20		%

The following table sets forth our concentration of revenue sources as a percentage of total net revenues:

			Three Months Ended September 30,												Nine Months Ended September 30,
			2022						2021						2022						2021
Customer B			1		%				35		%				1		%				15		%
Customer E			—		%				8		%				—		%				14		%

Schedule of Digital Assets

The following table sets forth our digital asset holdings as of September 30, 2022:

Asset			Gross Carrying Amount						Accumulated Digital Asset Impairment						Digital Asset Carrying Value
Bitcoin			$	37,882					$	(26,295)					$	11,587
Ether			3,175						(2,471)						704
Other			1,223						(897)						326
Total			$	42,280					$	(29,663)					$	12,617

The following table sets forth our digital asset holdings as of December 31, 2021:

Asset			Gross Carrying Amount						Accumulated Digital Asset Impairment						Digital Asset Carrying Value
Bitcoin			$	36,963					$	(8,554)					$	28,409
Ethereum			4,714						(670)						4,044
Other			287						(159)						128
Total			$	41,964					$	(9,383)					$	32,581

Accumulated digital asset impairment noted above represents impairment on the remaining cost lots as of the respective dates. Changes in our digital asset holdings for the nine months ended September 30, 2022 were as follows:

			Bitcoin						Ethereum						Other						Total
Net balance at December 31, 2021			$	28,409					$	4,044					$	128					$	32,581
Received from customers, net of expenses			28						376						25						429
Purchases of digital assets			923						—						—						923
Exchanges of digital assets			—						(911)						911						—
Other			26						169						—						195
Impairment expense			(17,799)						(2,974)						(738)						(21,511)
Net balance at September 30, 2022			$	11,587					$	704					$	326					$	12,617

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 September 30,												Nine Months Ended September 30,
			2022						2021						2022						2021
Convertible notes			—						19,324						—						19,324
Warrants			5,636,801						7,676,112						5,636,801						7,676,112
Options			984,729						207,257						984,729						1,117,697
Restricted stock units			3,353,776						3,807,154						3,353,776						3,807,154
Restricted shares			—						574						—						574
Total			9,975,306						11,710,421						9,975,306						12,620,861

Schedule of 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 September 30, 2022 are set forth below:

			Level 1						Level 2						Level 3						Total
Assets:
Digital assets			$	12,617					$	—					$	—					$	12,617
Total			$	12,617					$	—					$	—					$	12,617
Liabilities:
Warrant liability			$	—					$	338					$	—					$	338
Total			$	—					$	338					$	—					$	338

    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:

			September 30, 2022						December 31, 2021
Strike price per share			$	2.25					$	2.25
Closing price per share			$	1.18					$	2.63
Term (years)			0.78						1.53
Volatility			99		%				186		%
Risk-free rate			4.15		%				0.56		%
Dividend Yield			—						—

X

- Definition

Schedule of Digital Assets

+ References

No definition available.

+ Details

Name:	phun_ScheduleOfDigitalAssetsTableTextBlock
Namespace Prefix:	phun_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_AccountingPoliciesAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- 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 https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258

+ Details

Name:	us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- 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 https://asc.fasb.org/extlink&oid=126976982&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 https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258

+ Details

Name:	us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- 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 https://asc.fasb.org/extlink&oid=124432515&loc=d3e3550-109257

+ Details

Name:	us-gaap_ScheduleOfAntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the nature of a concentration, a benchmark to which it is compared, and the percentage that the risk is to the benchmark.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 21
-URI https://asc.fasb.org/extlink&oid=123594938&loc=d3e13537-108611

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 20
-URI https://asc.fasb.org/extlink&oid=123594938&loc=d3e13531-108611

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 275
-SubTopic 10
-Section 50
-Paragraph 20
-URI https://asc.fasb.org/extlink&oid=99393423&loc=d3e6404-108592

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 275
-SubTopic 10
-Section 50
-Paragraph 16
-URI https://asc.fasb.org/extlink&oid=99393423&loc=d3e6327-108592

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 275
-SubTopic 10
-Section 50
-Paragraph 18
-URI https://asc.fasb.org/extlink&oid=99393423&loc=d3e6351-108592

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 275
-SubTopic 10
-Section 50
-Paragraph 21
-URI https://asc.fasb.org/extlink&oid=99393423&loc=d3e6442-108592

+ Details

Name:	us-gaap_SchedulesOfConcentrationOfRiskByRiskFactorTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration