Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

v3.7.0.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Cash Flows from Operating Activities:    
Net Loss $ (37,511) $ (33,032)
Reconciliation of net loss to net cash used in operating activities:    
Depreciation expense 543 74
Amortization expense of intangible asset 819 0
Amortization of debt discount 702 423
Amortization of product revenue license fee 267 21
Amortization of forgivable loans to registered representatives 362 0
Amortization of deferred clearing credit (104) 0
Stock-based compensation expense 7,736 5,889
Recovery for doubtful accounts (256) 0
Common shares issuable for NHLD interest expense 189 0
Change in fair value of investments 511 1,719
Change in fair value of derivative liabilities (5,794) 89
Change in fair value of subsidiary convertible note 285 0
Research and development-licenses acquired, expense 3,095 2,143
Change in fair value of subsidiaries’ assets and liabilities 10 249
Increase (decrease) in cash and cash equivalents resulting from changes in operating assets and liabilities:    
Cash deposits with clearing organizations (10) 0
Accounts receivable (1,506) (967)
Receivables from broker-dealers and clearing organizations 544 0
Forgivable loans receivable (47) 0
Securities owned, at fair value (1,049) 0
Inventory (96) (100)
Other receivables - related party 185 (2,414)
Prepaid expenses and other current assets (2,590) 195
Accounts payable and accrued expenses (1,721) 3,571
Accrued expense - related party 24 0
Securities sold, but not yet purchased, at fair value (221) 0
Interest payable 3 (1)
Interest payable - related party 259 0
Other long-term liabilities 2 3,122
Net cash used in operating activities (35,369) (19,019)
Cash Flows from Investing Activities:    
Purchase of research and development licenses (665) (2,095)
Purchase of property and equipment (454) (4,300)
Purchase of license 0 (350)
Purchase of short-term investment (certificates of deposit) (20,038) 0
Security deposits refund 3 0
Security deposits collected 0 (1)
Acquisition of business - National (19) 0
Collection on notes receivable - disposal of Gilman branches 8
Investment in Origo Acquisition Corp. 0 (175)
Net cash used in investing activities (21,165) (6,921)
Cash Flows from Financing Activities:    
Proceeds from subsidiaries' offering 93,853 570
Payment of costs related to subsidiaries' offering (862) 0
Proceeds from at-the-market offering 0 434
Payment of cost related to at-the-market offering 0 (49)
Proceeds from NSC note 18,967 0
Payment of debt issuance costs associated with NSC Note (1,939) 0
Payment of NSC note 0 (2,792)
Proceeds from exercise of stock options 27 0
Proceeds from issuance of common stock under ESPP 42 81
Proceeds from subsidiaries' Convertible Note 0 1,000
Payment of debt issuance costs associated with subsidiaries' Convertible Note (4) (150)
Proceeds from Opus Credit Facility 2,500 0
Net cash provided by (used in) financing activities 112,584 (906)
Net increase (decrease) in cash and cash equivalents 56,050 (26,846)
Cash and cash equivalents at beginning of period 88,294 98,182
Cash and cash equivalents at end of period 144,344 71,336
Supplemental disclosure of cash flow information:    
Cash paid for interest 58 158
Supplemental disclosure of non-cash financing and investing activities:    
Issuance of restricted stock 1 2
Issuance of warrants by subsidiary in conjunction with NSC debt 750 0
Issuance of warrants in connection with 2017 Subordinated Note Financing 1,197 0
Issuance of warrants in connection with subsidiaries' Convertible Note 0 99
Debt discount related to Opus Credit Facility 201 0
Unpaid debt offering cost 79 0
Issuance of subsidiaries common shares for license 0 48
Common shares issuable for license acquired 1,682 0
Conversion of subsidiaries notes payable 314 0
Fixed assets (acquired but not paid) 42 0
Business acquired:    
Identifiable intangible asset acquired 211 0
Contingent consideration payable (192) 0
Cash paid $ 19 $ 0