Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Cash flows from operating activities:    
Net income (loss) $ (6,002) $ 29,219
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization 497 329
Noncash lease expense 119 0
Change in fair value of warrant liability 0 2,106
Stock-based compensation 246 318
Amortization of discount and premium on investments (79) 0
Changes in operating assets and liabilities:    
Accounts receivable 2,550 2,606
Prepaid expenses and other assets 767 84
Deferred income taxes (2,337) 2,582
Lease liability (110) 0
Accounts payable 162 11,461
Accounts payable - related parties (138) (87)
Accrued expenses 1,321 1,799
Accrued income taxes 0 8,939
Other liabilities 118 355
Net cash (used in) provided by operating activities (2,886) 59,711
Cash flows from investing activities:    
Purchase of fund investment 0 (550)
Purchase of marketable securities (3,763) 0
Redemption of marketable securities 1,797 0
Leasehold improvements (31) 0
Net cash used in investing activities (1,997) (550)
Cash flows from financing activities:    
Redemption of preferred shares 0 (19,890)
Net cash used in financing activities 0 (19,890)
Net (decrease) increase in cash and cash equivalents (4,883) 39,271
Cash and cash equivalents - beginning 32,011 41,169
Cash and cash equivalents - ending 27,128 80,440
Supplemental disclosures of cash flow information, non cash:    
Accretion of series A-1 preferred stock to redemption value 0 925
Changes in accounts receivable, adoption of ASC 606 (2,550) (2,606)
Accounting Standards Update 2014-09    
Changes in operating assets and liabilities:    
Accounts receivable 0 (2,550)
Supplemental disclosures of cash flow information, non cash:    
Changes in accounts receivable, adoption of ASC 606 $ 0 $ 2,550