Quarterly report [Sections 13 or 15(d)]

Consolidated Statements of Cash Flows (Unaudited)

v3.25.3
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
CASH FLOWS FROM OPERATING ACTIVITIES    
Net loss $ (8,713) $ (6,048)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation 774 617
Net change in fair value of trading marketable securities 0 248
Net change in fair value of digital assets (75) 0
Non-cash lease expense 26 24
Amortization of debt discounts and debt issuance costs 137 0
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets 111 518
Accounts payable and accrued liabilities 2,140 (629)
Accounts payable - related parties (29) 5
Accrued interest 46 0
Fixed cash payments related to operating leases (26) (22)
Net cash used in operating activities (5,609) (5,783)
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchase of digital assets (250) 0
Investment in trading marketable securities 0 (481)
Proceeds from disposition of marketable securities 0 7,750
Net cash (used in) provided by investing activities (250) 7,269
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from issuance of common stock for cash, net 4,391 55
Proceeds from issuance of convertible notes, net 737 0
Proceeds from exercise of warrants 132 0
Net cash provided by financing activities 5,260 55
Effect of exchange rate changes on cash (19) 1
Net change in cash and cash equivalents (618) 1,542
Cash and cash equivalents - beginning of period 2,338 2,815
Cash and cash equivalents - end of period 1,720 4,357
SUPPLEMENTAL CASH FLOW INFORMATION    
Cash paid for interest 0 0
Cash paid for income taxes 0 0
NON-CASH FINANCING AND INVESTING ACTIVITIES:    
Initial recognition of the right-of-use asset and lease liability $ 0 $ 111