XML 16 R6.htm IDEA: XBRL DOCUMENT v3.24.3
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
 3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Dec. 31, 2023
Cash flows from operating activities:          
Net loss     $ (58,228,000) $ (139,804,000)  
Net loss from discontinued operations     (779,000) (4,658,000)  
Net loss from continuing operations     (57,449,000) (135,146,000)  
Adjustments to reconcile net loss to net cash used in operating activities:          
Depreciation and amortization     19,653,000 22,378,000  
Amortization of debt discount     8,422,000 22,756,000  
Amortization of right-of-use assets     1,162,000 1,335,000  
Impairment of goodwill and intangible assets     35,570,000  
Stock-based compensation     2,940,000 7,594,000  
Gain on the sale of fixed assets $ (32,000) $ 32,000 (64,000) (2,728,000)  
Impairment of property and equipment 11,791,000 3,895,000 19,746,000 3,895,000  
Impairment of equity securities     6,266,000 11,555,000  
Impairment of crypto assets     376,000  
Realized gain on the sale of crypto assets     (649,000) (404,000)  
Change in fair value of crypto assets     (24,000)  
Revenue, crypto assets mining     (19,563,000) (23,273,000)  
Realized gains on sale of marketable securities     (7,463,000) (33,140,000)  
Gain on conversion of investment in equity securities to marketable equity securities (17,900,000)  
Unrealized gains on marketable securities     (266,000) (2,554,000)  
Realized losses on non-marketable equity securities     5,083,000  
Unrealized losses on investments in common stock, related parties     557,000 3,752,000  
Income from cash held in trust     (41,000) (2,561,000)  
Loss from investment in unconsolidated entity 1,958,000  
Provision for loan losses     495,000 1,180,000  
Provision for loan losses, related party     5,668,000
Change in the fair value of warrant liability     (2,655,000)  
Gain on extinguishment of debt     (502,000)  
Proceeds from the sale of crypto assets     20,038,000 21,330,000  
Other     (1,194,000) 1,550,000  
Changes in operating assets and liabilities:          
Marketable equity securities     10,755,000 71,159,000  
Accounts receivable     (342,000) (4,792,000)  
Inventories     (42,000) (1,554,000)  
Prepaid expenses and other current assets     (182,000) (762,000)  
Other assets     (3,026,000) (4,023,000)  
Accounts payable and accrued expenses     3,471,000 13,333,000  
Lease liabilities     (1,364,000) (1,595,000)  
Net cash (used in) provided by operating activities from continuing operations     (3,857,000) 2,576,000  
Net cash used in operating activities from discontinued operations     (6,366,000) (4,734,000)  
Net cash used in operating activities     (10,223,000) (2,158,000)  
Cash flows from investing activities:          
Purchase of property and equipment     (4,762,000) (14,607,000)  
Acquisition of non-controlling interests     (1,584,000)  
Investments in loans receivable     (434,000) (182,000)  
Investments in non-marketable equity securities     (10,702,000)  
Proceeds from the sale of fixed assets     671,000 4,515,000  
Investment in notes receivable, related party     (3,413,000) (2,361,000)  
Other     (109,000) (132,000)  
Net cash used in investing activities from continuing operations     (8,047,000) (25,053,000)  
Net cash (used in) provided by investing activities from discontinued operations     (3,799,000) 2,184,000  
Net cash used in investing activities     (11,846,000) (22,869,000)  
Cash flows from financing activities:          
Gross proceeds from sales of Class A common stock     14,599,000 25,327,000  
Financing cost in connection with sales of Class A common stock     (513,000) (847,000)  
Proceeds from sales of Series D preferred stock     6,309,000  
Financing cost in connection with sales of Series D preferred stock     (3,431,000)  
Proceeds from sales of Series C preferred stock and warrants, related party     2,800,000  
Proceeds from subsidiaries’ sale of stock to non-controlling interests     1,778,000 3,915,000  
Distribution to Circle 8 non-controlling interest     (281,000) (500,000)  
Proceeds from notes payable     49,237,000 81,026,000  
Repayment of margin accounts     (767,000)  
Payments on notes payable     (47,006,000) (95,815,000)  
Payments on convertible notes payable, related party     (193,000)  
Payments on notes payable, related party     (1,908,000)  
Payments of preferred dividends     (3,894,000) (963,000)  
Purchase of treasury stock     (1,306,000)  
Proceeds from sales of convertible notes     6,700,000 9,169,000  
Payments on convertible notes     (1,280,000) (660,000)  
Net cash provided by financing activities from continuing operations     20,039,000 21,457,000  
Net cash provided by financing activities from discontinued operations     2,552,000 2,316,000  
Net cash provided by financing activities     22,591,000 23,773,000  
Effect of exchange rate changes on cash and cash equivalents     (442,000) (311,000)  
Net increase (decrease) in cash and cash equivalents and restricted cash     80,000 (1,565,000)  
Cash and cash equivalents and restricted cash at beginning of period - continuing operations     11,068,000 11,860,000 11,860,000
Cash and cash equivalents and restricted cash at beginning of period - discontinued operations     4,301,000 2,195,000 2,195,000
Cash and cash equivalents and restricted cash at beginning of period     15,369,000 14,055,000 14,055,000
Cash and cash equivalents and restricted cash at end of period 15,449,000 12,490,000 15,449,000 12,490,000 15,369,000
Less cash and cash equivalents and restricted cash of discontinued operations at end of period 2,114,000 2,114,000 4,301,000
Cash and cash equivalents and restricted cash of continued operations at end of period $ 15,449,000 $ 10,376,000 15,449,000 10,376,000 $ 11,068,000
Supplemental disclosures of cash flow information:          
Cash paid during the period for interest - continuing operations     9,775,000 8,641,000  
Cash paid during the period for interest - discontinued operations     946,000 862,000  
Non-cash investing and financing activities:          
Settlement of accounts payable with crypto assets     31,000 20,000  
Settlement of interest payable with crypto assets     142,000  
Settlement of note payable with crypto assets     506,000  
Conversion of convertible notes payable into shares of Class A common stock     3,616,000  
Conversion of convertible notes payable, related party into shares of Class A common stock     400,000  
Conversion of debt and equity securities to marketable securities     4,996,000 23,703,000  
Conversion of loans receivable to marketable securities     5,430,000  
Exchange of related party advances for investment in other equity securities, related party     2,000,000  
Recognition of new operating lease right-of-use assets and lease liabilities     $ 1,889,000 $ 3,952,000  
Remeasurement of Ault Disruptive temporary equity     5,945,000  
Preferred stock exchanged for notes payable     $ 9,224,000  
Notes payable exchanged for convertible notes payable     2,200,000  
Notes payable exchanged for notes payable, related party     11,645,000  
Dividend of ROI investment in White River to ROI shareholders     $ 19,210,000  
Redeemable non-controlling interests in equity of subsidiaries paid with cash and marketable securities held in trust account     1,463,000 120,064,000  
Dividend paid in TurnOnGreen common stock in additional paid-in capital     $ 4,900,000 $ 10,700,000