XML 19 R6.htm IDEA: XBRL DOCUMENT v3.22.2
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Apr. 30, 2022
Apr. 30, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (6,018) $ (15,692)
Adjustments to reconcile net loss to cash (used in)/provided by operating activities:    
Depreciation and amortization expense 2,514 1,204
Stock compensation and warrant expense 75 558
Bad debt expense 51 9
Amortization of ROU Asset 214 95
Amortization of debt discount 1,943 1,827
(Gain) on derivative liabilities (7,835) 10,860
Loss on extinguishment of debt 5,480
(Gain) on settlement of debt (347)
Shares issued for debt extension charged to interest expense 34
Debt extension fee charged to interest expense 155
Changes in operating assets and liabilities:    
Accounts receivable (433) (96)
Inventory 10 26
Prepaid expenses and other current assets (96) (141)
Other assets 23
Right of use operating lease liability (268) (95)
Accounts payable 1,385 97
Accrued expenses 1,003 1,397
Deferred income 22 (105)
Net cash used in operating activities (1,741) (403)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Cash paid in acquisition of equipment (193) (228)
Proceeds from Nexogy 178
Acquisition of VoIP assets, net of cash received (12,790) (10,108)
Net cash used in investing activities (12,805) (10,336)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Borrowings from convertible debt, net of original issuance cost and discounts 706 1,078
Proceed from the exercise of warrants 30
Borrowings from debt, net of original issuance cost and discounts 15,530 13,036
Principal payments on debt, net (1,330)
Principal payments on convertible notes, net (175) (266)
Principal payments on related party notes, net (590) (316)
Principal payment on equipment financing (30) (53)
Net cash provided by financing activities 15,441 12,179
INCREASE IN CASH AND CASH EQUIVALENTS 895 1,440
CASH AND CASH EQUIVALENTS, beginning of period 1,489 685
CASH AND CASH EQUIVALENTS, end of period 2,384 2,125
SUPPLEMENTAL DISCLOSURES:    
Cash paid for interest 1,677 753
Income tax paid
SUPPLEMENTAL DISCLOSURES OF NON-CASH INVESTING AND FINANCING ACTIVITIES    
Accrued interest rolled into principal 640 328
Incentive earnout adjustment on Active PBX acquisition 120
Debt discount from common stock issued with debt 38 146
Beneficial conversion feature on convertible debt 554
Preferred Stock Series B issued for debt conversion 18
Preferred Stock Series C issued for debt conversion 554
Derivative liability resolved to APIC due to debt conversion 76 588
Debt discount from derivative liabilities 60 6,462
Promissory note reclassed to convertible debt 15
Capitalization of ROU assets and liabilities - operating 254
Common Stock issued for debt conversion 429
Common Stock issued for accounts payable 60
Dividend declared $ 14 $ 15