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UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Cash flows from operating activities:    
Net income (loss) including noncontrolling interests in subsidiaries $ 33,205 $ (17,763)
Adjustments to reconcile net income (loss) including noncontrolling interests in subsidiaries to net cash provided by (used in) operating activities:    
Change in fair value of investment, net (Note 5) (3,704) (9,622)
Loss on sale of investment (Note 5) 2,762 8,147
Impairment of other investment (0) 8,195
Gain on disposal of other investment (Note 5) 0 (2,000)
Depreciation and amortization 3,609 2,344
Amortization of debt discount and issuance costs 955 0
Change in fair value of Series A redeemable convertible preferred stock embedded derivative 7,708 0
Change in fair value of Series A warrants 2,036 0
Change in fair value of Series B warrants 36,867 0
Non-cash stock compensation 1,243 753
Loss on foreign currency exchange 4,938 0
Change in fair value of trading securities and equity securities - private (81,907) (914)
Loss on sale of trading securities 4,272 0
Change in fair value of equity securities derivative and forward contract (17,542) 0
Gain on sale of prepaid investment and derivative (2,845) 0
Changes in assets and liabilities:    
Accounts receivable 248 31,085
Prepaid expenses and other assets 1,038 (983)
Accounts payable and accrued expenses 614 326
Royalties and contingent legal fees payable 12,052 (20,414)
Net cash provided by (used in) operating activities 5,549 (846)
Cash flows from investing activities:    
Patent acquisition costs (13,780) (4,420)
Sale of investment at fair value (Note 5) 1,460 6,260
(Purchase) Sale of other investments (Note 5) 0 2,000
Purchases of trading securities (33,800) (103,718)
Maturities and sales of trading securities 316,746 38,816
Purchases of prepaid investment (276,275) 0
Equity securities derivative and forward contract acquisition cost (3,989) 0
Purchases of property and equipment (177) (119)
Net cash used in investing activities (9,815) (61,181)
Cash flows from financing activities:    
Repurchase of common stock (3,998) 0
Issuance of Senior Secured Notes, net of lender fee 110,437 0
Senior Secured Notes issuance costs paid to other parties (496) 0
Dividend on Series A Redeemable Convertible Preferred Stock (1,120) 0
Issuance of Series B warrants 4,600 0
Proceeds from exercise of stock options 48 79
Net cash provided by financing activities 109,471 79
Increase (decrease) in cash and cash equivalents and restricted cash 105,205 (61,948)
Cash and cash equivalents and restricted cash, beginning 92,359 128,809
Cash and cash equivalents and restricted cash, ending 197,564 66,861
Supplemental schedule of noncash investing activities:    
Acquisition of prepaid investment securities $ 231,480 $ 0