Gryphon Digital Mining Inc
For the period ended Mar 31, 2024. Filed May 14, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 14, 2024
ABTC$5.13-3.2%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Unaudited Condensed Consolidated Statements of Cash Flows
For the Three Months Ended March 31,
| 2024 · 2023 | |||
|---|---|---|---|
| CASH FLOWS FROM OPERATING ACTIVITIES | |||
| Net loss | $(11,744,000) | $(6,910,000) | |
| Adjustments to reconcile net loss to cash (used in) provided by operating activities | |||
| Impairment loss on digital assets | - | 1,000 | |
| Realized gain from use of digital assets | - | (2,881,000) | |
| Realized gain on disposition of digital assets | - | (157,000) | |
| Unrealized gain on digital assets | (1,703,000) | - | |
| Depreciation expense | 3,247,000 | 3,981,000 | |
| Forfeiture of restricted stock grants | - | (1,515,000) | |
| Compensation cost related to restricted common stock awards | 208,000 | 300,000 | |
| Compensation for services contributed by the Company’s President | - | 63,000 | |
| Unrealized loss (gain) on marketable securities | 216,000 | (63,000) | |
| Loss on asset disposal | - | 53,000 | |
| Change in fair value of notes payable | 9,638,000 | 8,085,000 | |
| Interest expense | 287,000 | 184,000 | |
| Digital asset revenue | (7,490,000) | (4,840,000) | |
| Changes in operating assets and liabilities | |||
| Proceeds from sale of digital assets | 6,106,000 | 5,542,000 | |
| Accounts receivable | 485,000 | (415,000) | |
| Prepaid expense | (28,000) | 17,000 | |
| Accounts payable and accrued liabilities | (205,000) | 368,000 | |
| Net cash (used in) provided by operating activities | (983,000) | 1,807,000 | |
| CASH FLOWS FROM INVESTING ACTIVITIES | |||
| Purchase of mining equipment | - | (42,000) | |
| Net cash used in investing activities | - | (42,000) | |
| CASH FLOWS FROM FINANCING ACTIVITIES | |||
| Proceeds from issuance of common stock | 1,395,000 | - | |
| Cash acquired in connection with the reverse recapitalization | 500,000 | - | |
| Payment for insurance payable | (90,000) | (18,000) | |
| Net cash provided by (used in) financing activities | 1,805,000 | (18,000) | |
| Net change in cash | 822,000 | 1,747,000 | |
| Cash-beginning of period | 915,000 | 269,000 | |
| Cash-end of period | $1,737,000 | $2,016,000 | |
| Reconciliation of cash and cash equivalents and restricted cash | |||
| Cash and cash equivalents | $1,737,000 | $2,016,000 | |
| Restricted cash | - | 2,000 | |
| Cash and cash equivalents and restricted cash | $1,737,000 | $2,018,000 | |
| Non-Cash investing and financing activities: | |||
| Value of common stock issued for acquisition of Akerna’s net book value | $(2,256,000) | $ | - |
| Accrued compensation for issuance of common stock | $55,000 | $ | - |
| Digital assets used for principal and interest payment of note payable | $1,750,000 | $4,818,000 | |
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