IDEANOMICS, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)
(in thousands, except share and per share data)
June 30, 2023
December 31, 2022
(Unaudited)
ASSETS
Current assets
Cash and cash equivalents
$ 2,895
$ 3,759
Accounts receivable, net
6,556
5,783
Contract assets
373
3,579
Amount due from related parties
108
386
Notes receivable from third parties, net
42
31,653
Inventory, net
22,925
27,600
Prepaid expenses
9,535
10,382
Other current assets
3,237
5,592
Current assets of discontinued operations
15,089
25,304
Total current assets
60,760
114,038
Property and equipment, net
11,029
8,650
Intangible assets, net
150,652
43,624
Goodwill
51,237
37,775
Operating lease right of use assets
14,702
14,385
Long-term investments
—
7,500
Other non-current assets
3,147
2,825
Non-current assets of discontinued operations
1,110
14,004
Total assets
$ 292,637
$ 242,801
LIABILITIES, CONVERTIBLE REDEEMABLE PREFERRED STOCK, AND EQUITY
Current liabilities
Accounts payable
$ 57,737
$ 28,022
Accrued salaries
9,663
7,328
Accrued expenses
3,381
2,842
Deferred revenue
2,759
2,110
Amount due to related parties
2,279
2,152
Current portion of operating lease liabilities
3,383
3,189
Promissory note due to related party
2,123
2,021
Promissory note due to third parties
7,003
5,814
Convertible note due to third party
6,212
3,928
Current contingent consideration
827
867
Other current liabilities
13,266
9,824
Current liabilities of discontinued operations
10,886
8,764
Total current liabilities
119,519
76,861
Promissory note due to third parties
1,819
1,957
Operating lease liabilities – long term
14,093
11,347
Non-current contingent liabilities
60,721
—
Deferred tax liabilities
3,677
2,511
Other long-term liabilities
1,457
1,634
Non-current liabilities of discontinued operations
828
1,928
Total liabilities
202,114
96,238
Commitments and contingencies (Note 15)
Convertible redeemable preferred stock
Series A – 7,000,000 shares issued and outstanding, liquidation and deemed liquidation preference of $3,500,000 as of June 30, 2023 and December 31, 2022
1,262
1,262
Series B – 50,000,000.00 shares authorized, 20,000,000 and 10,000,000 shares issued and 6,000,000 and 10,000,000 shares outstanding as of June 30, 2023 and December 31, 2022, respectively
5,310
8,850
Series C – 2,000,000 shares authorized, 1,159,276 and 0 shares issued and 1,159,276 and 0 shares outstanding as of June 30, 2023 and December 31, 2022, respectively
4,825
—
Equity
Common stock – $0.001 par value; 12,000,000 shares authorized, 11,264,709 and 4,786,290 shares issued and 10,976,787 and 4,786,289.768 shares outstanding as of June 30, 2023 and December 31, 2022, respectively
1,408
597
Additional paid-in capital
1,068,697
1,004,082
Accumulated deficit
(986,596)
(866,450)
Accumulated other comprehensive loss
(5,185)
(6,104)
Total Ideanomics, Inc. stockholders’ equity
78,324
132,125
Non-controlling interest
802
4,326
Total equity
79,126
136,451
Total liabilities, convertible redeemable preferred stock, and equity
$ 292,637
$ 242,801