General form of registration statement for all companies including face-amount certificate companies

CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
 12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Cash flows from financing activities:      
Cash and cash equivalents at end of period $ 1,061,717    
OLD PlayStudios, Inc.      
Cash flows from operating activities:      
Net income [1],[2] 12,807,000 $ 13,614,000 $ 2,822,000
Adjustments:      
Depreciation and amortization 22,192,000 25,154,000 16,246,000
Amortization of loan costs   59,000 35,000
Stock-based compensation expense 3,519,000 5,884,000 10,902,000
Deferred income tax expense (3,568,000) 2,456,000 1,884,000
Loss on disposal of equipment 2,000 28,000 1,297,000
(Gain)/loss on foreign currency translation (469,000) (343,000) 503,000
Changes in operating assets and liabilities      
Accounts receivable (2,367,000) (517,000) 893,000
Income tax receivable (4,902,000) (938,000) (1,119,000)
Prepaid expenses and other current assets (8,000) (202,000) (909,000)
Accounts payable & accrued liabilities 21,975,000 (1,591,000) 3,855,000
Deferred revenue   (7,379,000) 883,000
Other (781,000) (137,000) (564,000)
Net cash provided by operating activities 48,400,000 36,088,000 36,728,000
Cash flows from investing activities:      
Purchase of property and equipment (1,847,000) (4,296,000) (3,569,000)
Additions to internal-use software (25,155,000) (20,996,000) (20,844,000)
Other     4,000
Net cash used in investing activities (27,002,000) (25,292,000) (24,409,000)
Cash flows from financing activities:      
Proceeds from option exercises 992,000 754,000 550,000
Repurchases of common stock for retirement (2,540,000) (6,176,000) (1,404,000)
Repayment of long-term debt   (1,926,000) (1,279,000)
Purchase of noncontrolling interest     (2,000,000)
Payments for capitalized offering costs (2,087,000)    
Net cash used in financing activities (3,635,000) (7,348,000) (4,133,000)
Foreign currency translation 142,000 (26,000) (343,000)
Net change in cash and cash equivalents 17,905,000 3,422,000 7,843,000
Cash and cash equivalents at beginning of period 31,022,000 27,600,000 19,757,000
Cash and cash equivalents at end of period 48,927,000 31,022,000 27,600,000
Supplemental Cash Flow Data:      
Interest paid 53,000 233,000 259,000
Income taxes paid, net of refunds 7,015,000 2,046,000 2,145,000
Non-cash Investing and Financing Activities:      
Capitalization of stock-based compensation $ 605,000 912,000 1,405,000
Noncash additions to intangible assets related to license agreements     $ 1,000,000
Purchases of property and equipment included in accrued liabilities   $ 196,000  
[1] As further discussed in Note 13, a related party held a noncontrolling interest in the Company’s subsidiary, International. As International incurred losses prior to the Company’s purchase of the noncontrolling interest in 2018 and losses of International were not allocable to the noncontrolling interest, net and comprehensive losses of International were not allocated to the noncontrolling interest.
[2] As further discussed in Note 13, a related party held a noncontrolling interest in the Company’s subsidiary, PlayStudios International Limited (“International”). As International incurred losses prior to the Company’s purchase of the noncontrolling interest in 2018 and losses of International were not allocable to the noncontrolling interest, net and comprehensive losses of International were not allocated to the noncontrolling interest.