v3.23.1
Unaudited Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net profit (loss) $ 176,424 $ (8,845)
Adjustments to reconcile net loss to net cash used in operating activities:    
Loss from equity investment 208 184
Depreciation and amortization 111,055 871
Provision for doubtful accounts 570 118
Shares issued to service providers and employees 6,795
Stock-based compensation for employees and consultants 30 125
Changes in assets and liabilities:    
Change in deferred taxes, net (3,656) (1,073)
Change in long-term deposit and prepaid expenses 30 (203)
Change in right of use assets 259 324
Change in lease liabilities (265) (309)
Due to related party (1,894) 737
Change in accrued interest 1,369
Increase (decrease) in trade accounts receivable, net (150,131) (3,346)
Increase in other current assets 1,367 (640)
(Decrease) increase in trade accounts payable (2,458) (3,606)
Decrease in deposit held on behalf of client (198) (198)
Increase in other current liabilities 103,288 401
Net cash provided by (used in) operating activities 242,793 (8,362)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of property and equipment (3) (49)
Acquisition of Tingo foods (Appendix A) 56,849
Net cash provided by (used in) investing activities 56,846 (49)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Repayment of short-term loan (149) (520)
Repayment of loan from related party (Micronet) 534
Repayment on loan to related party (8,125)
Net cash provided by (used in) financing activities (8,274) 14
TRANSLATION ADJUSTMENT ON CASH AND CASH EQUIVALENTS AND RESTRICTED CASH (11,519) (74)
NET CHANGE IN CASH AND CASH EQUIVALENTS AND RESTRICTED CASH 279,846 (8,471)
Cash and cash equivalents and restricted cash at beginning of the period 502,549 97,347
Cash and cash equivalents and restricted cash at end of the period 782,395 88,876
Amount paid during the period for:    
Interest 666 6
Taxes $ 426 $ 3

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