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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Cash flows from operating activities:    
Net income (loss) $ 1,439,000 $ (24,641,000)
Less: Net loss from discontinued operations (1,698,000)
Net income (loss) from continuing operations 1,439,000 (22,943,000)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 711,000 357,000
Amortization 296,000 252,000
Amortization of right-of-use assets 683,000 47,000
Amortization, related party 23,000
Interest expense – debt discount 61,000 2,379,000
(Gain) loss on extinguishment of debt (929,000) 2,749,000
Change in fair value of warrant liability (259,000)
Accretion of original issue discount on notes receivable – related party (4,213,000) 21,000
Accretion of original issue discount on notes receivable (366,000) (5,000)
Increase in accrued interest on notes receivable – related party (119,000)
Stock-based compensation 4,732,000 272,000
Realized losses on other investments 28,000
Realized gains on sale of marketable securities (15,154,000) (23,000)
Unrealized losses on marketable equity securities 6,353,000 132,000
Unrealized gains on equity securities – related party (6,150,000) (25,000)
Unrealized (gains) losses on equity securities (2,795,000) 73,000
Changes in operating assets and liabilities:    
Marketable equity securities (34,196,000)
Accounts receivable (1,270,000) (591,000)
Accrued revenue (166,000) 600,000
Inventories (492,000) (199,000)
Prepaid expenses and other current assets (5,155,000) (750,000)
Other assets (407,000) (86,000)
Accounts payable and accrued expenses (1,073,000) 11,986,000
Accounts payable, related parties (9,000) (26,000)
Other current liabilities 2,210,000 408,000
Lease liabilities (666,000) (13,000)
Net cash used in continuing operating activities (56,911,000) (5,357,000)
Net cash provided by discontinued operating activities 1,000
Net cash used in operating activities (56,911,000) (5,356,000)
Cash flows from investing activities:    
Purchase of property and equipment (28,145,000) (554,000)
Investment in promissory notes, related parties (4,994,000) (517,000)
Investments in common stock and warrants, related parties (19,590,000) (93,000)
Investment in real property, related party (2,670,000)
Proceeds from sale of investment in real property, related party 2,670,000
Sales of marketable equity securities 430,000 144,000
Purchase of marketable equity securities (2,144,000)
Proceeds from loans receivable 140,000
Investments in debt and equity securities (14,287,000) (13,000)
Net cash used in investing activities (68,730,000) (893,000)
Cash flows from financing activities:    
Gross proceeds from sales of common stock 160,483,000
Financing cost in connection with sales of equity securities (4,952,000) (25,000)
Proceeds from convertible notes payable 100,000
Proceeds from notes payable 724,000 7,122,000
Proceeds from short-term advances 570,000
Payments on short-term advances (30,000)
Proceeds from short-term advances – related party 653,000
Payments on short-term advances – related party (230,000)
Payments on notes payable (2,263,000) (289,000)
Payments on advances on future receipts (762,000)
Payments of preferred dividends (13,000) (10,000)
Purchase of treasury stock (2,773,000)
Payments on revolving credit facilities, net (125,000) (44,000)
Net cash provided by financing activities 151,081,000 7,055,000
Effect of exchange rate changes on cash and cash equivalents (73,000) (15,000)
Net increase in cash and cash equivalents 25,367,000 791,000
Cash and cash equivalents at beginning of period 18,680,000 483,000
Cash and cash equivalents at end of period 44,047,000 1,274,000
Supplemental disclosures of cash flow information:    
Cash paid during the period for interest 712,000 101,000
Non-cash investing and financing activities:    
Cancellation of convertible notes payable into shares of common stock
Cancellation of notes payable into shares of common stock 449,000 16,711,000
Payment of accounts payable with digital currency 119,000
Issuance of common stock in payment of liability 229,000
of common stock 740,000
payment of accrued expenses 420,000
Conversion of debt and equity securities to marketable securities 2,656,000
Conversion of loans to debt and equity securities 150,000
of common stock $ 400,000