Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

v3.8.0.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Cash Flows from Operating Activities:    
Net Loss $ (38,218) $ (14,562)
Reconciliation of net loss to net cash used in operating activities:    
Depreciation expense 365 274
Amortization of intangible asset 690 408
Amortization of debt discount 341 246
Amortization of product revenue license fee 133 133
Amortization of forgivable loans to registered representatives 160 201
Amortization of deferred clearing credit (53) (52)
Stock-based compensation expense 5,053 2,929
Issuance of subsidiaries' common shares for research and development expenses 0 30
Recovery of doubtful accounts 20 (115)
Common shares issuable for 2017 Subordinated Note Financing interest expense 489 0
Change in fair value of investments 118 668
Change in fair value of derivative liabilities 1,065 (4,342)
Change in fair value of subsidiary convertible note (250) 97
Research and development-licenses acquired, expense 97 1,265
Change in fair value of subsidiaries' assets and liabilities 4 11
Increase (decrease) in cash and cash equivalents resulting from changes in operating assets and liabilities:    
Accounts receivable (556) 462
Receivables from broker-dealers and clearing organizations (1,069) 499
Forgivable loans receivable (78) (17)
Securities owned, at fair value (2,293) 1,151
Inventory (51) (1)
Other receivables - related party (326) 756
Prepaid expenses and other current assets (1,939) 635
Accounts payable and accrued expenses 8,258 (1,882)
Accounts payable and accrued expenses - related party (98) 0
Securities sold, but not yet purchased, at fair value (151) (297)
Interest payable 17 2
Interest payable - related party (12) 30
Deferred revenue 690 0
Other long-term liabilities 19 (4)
Net cash used in operating activities (27,575) (11,475)
Cash Flows from Investing Activities:    
Purchase of research and development licenses (75) (665)
Purchase of property and equipment (801) (261)
Purchase of short-term investment (certificates of deposit) (25,000) 0
Redemption of short-term investment (certificates of deposit) 24,000 0
Security deposits refund 0 3
Acquisition of business - National (124) (19)
Collection on notes receivable 25 0
Net cash used in investing activities (1,975) (942)
Cash Flows from Financing Activities:    
Inter-company costs related to the issuance of Series A preferred stock 1,298 0
Payment of Preferred A dividends (586) 0
Proceeds from at-the-market offering 229 0
Payment of cost related to at-the-market offering (6) 0
Proceeds from subsidiaries' offering 23,011 55,904
Payment of costs related to subsidiaries' offering (2,167) (2,998)
Proceeds from exercise of subsidiary's warrants 96 0
Proceeds from 2017 Subordinated Note Financing 0 3,254
Payment of debt issuance costs associated with 2017 Subordinated Note Financing (255) 0
Proceeds from Opus Credit Facility 0 2,000
Proceeds from 2018 Venture Notes 21,707 0
Payment of debt issue costs associated with 2018 Venture Notes (1,814) 0
Payment of subsidiaries' Convertible Note (1,858) 0
Net cash provided by financing activities 39,655 58,160
Net increase in cash and cash equivalents, cash deposits with clearing organizations and restricted cash 10,105 45,743
Cash and cash equivalents, cash deposits with clearing organizations and restricted cash at beginning of period 113,915 105,184
Cash and cash equivalents, cash deposits with clearing organizations and restricted cash at end of period 124,020 150,927
Supplemental disclosure of cash flow information:    
Cash paid for interest 2 4
Supplemental disclosure of non-cash financing and investing activities:    
Issuance of restricted stock 1 1
Issuance of warrants in conjunction with 2017 Subordinated Note Financing 0 206
Receivable from ATM issuances 89 0
Debt discount related to Opus Credit Facility 0 158
Common shares issuable for license acquired 0 1,682
Common shares issued for 2017 Subordinated Note Financing interest expense 500 0
Property, plant and equipment included in account payable and accrued liabilities 2,321 0
Business acquired:    
Business acquired 124 19
National [Member]    
Supplemental disclosure of cash flow information:    
Cash paid for interest 394 58
Cash paid for income taxes 13 81
Supplemental disclosure of non-cash financing and investing activities:    
Fixed assets (acquired but not paid) 9 23
Related Party [Member]    
Supplemental disclosure of cash flow information:    
Cash paid for interest $ 853 $ 0