v3.22.2.2
Unaudited Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (31,413) $ (28,631)
Adjustments to reconcile net loss to net cash used in operating activities:    
loss of control in Micronet Ltd. 1,934
Loss (gain) from equity investment 557 (636)
Depreciation and amortization 2,581 2,416
Provision for doubtful accounts 1,114
Issuance of shares for employees and consultants 3,825
Stock-based compensation for employees and consultants 286 585
Changes in assets and liabilities:    
Change in deferred taxes, net (1,741) (736)
Change in long-term deposit and prepaid expenses 316 224
Change in right of use assets 210 (250)
Change in lease liabilities (200) 165
Due to related party 491 (113)
Accrued interest and exchange rate differences on Short-term loan (173)
Decrease (increase) in trade accounts receivable, net 7,681 (19,556)
Increase in other current assets (766) (5,537)
(Decrease) increase in trade accounts payable (5,858) 17,949
Decrease in deposit held on behalf of client (1,606)
Increase (decrease) in other current liabilities 2,207 (2,895)
Net cash used in operating activities (22,489) (35,081)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of property and equipment (131) (546)
Cash acquired through business combination - Magpie (Appendix B) 1,834
Payment on business acquired - Beijing Fucheng (Appendix A)   (4,891)
Loan to related party   (857)
Net cash acquired on a variable interest entity acquired - Guangxi Zhongtong   460
Net cash acquired on a variable interest entity acquired – All Weather (Appendix E)   755
Loan to related party – Shareholders of All weather   (776)
Receipt of loan from related party (Micronet) 534
Loan to Tingo pursuant to the merger agreement (3,700)
Deconsolidation of Micronet Ltd. (Appendix C)   (2,466)
Net cash used in investing activities (3,297) (6,487)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Repayment of bank loans (195)
Repayment of short-term loan (723)
Proceeds from issuance of shares and warrants   115,242
Proceeds from exercise of warrants 2,554
Net cash (used in) provided by financing activities (723) 117,601
TRANSLATION ADJUSTMENT ON CASH AND RESTRICTED CASH (99) 207
NET INCREASE (DECREASE) IN CASH AND RESTRICTED CASH (26,608) 76,240
Cash and restricted cash at beginning of the period 97,347 29,049
Cash and restricted cash at end of the period 70,739 105,289
Amount paid during the period for:    
Interest 5 27
Taxes 254 195
Cash at end of the period 68,351 105,289
Restricted cash at end of the period 2,388
Cash and restricted cash at end of the period $ 70,739 $ 105,289

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