Company: ANY
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0001591956-25-000009
Chunk: 6

Company: Sphere 3D Corp.
Filing Date: 2025-08-05
Form: 10-Q
Item: Part I, Item 1
Chunk 6
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,522 Payments for purchase of property and equipment(1,225)— Proceeds from sale of property and equipment247 — Net cash provided by investing activities9,098 7,031 Financing activities:Proceeds from issuance of common shares, net108 — Net cash provided by financing activities108 — Net (decrease) increase in cash and cash equivalents(722)3,677 Cash and cash equivalents, beginning of period5,425 586 Cash and cash equivalents, end of period$4,703 $4,263 Supplemental disclosures of non-cash investing and financing activities:Amount accrued for purchases of property and equipment$157 $— Property and equipment exchanged for settlement of liabilities$69 $— Settlement of prepaid hosting services deposit with equity securities$— $10,000 Issuance of common shares for settlement of liabilities$— $255 Property and equipment sale proceeds receivable$— $186 

See accompanying notes to condensed consolidated financial statements.

5

Sphere 3D Corp.

Notes to Condensed Consolidated Financial Statements

(unaudited)

1.Organization and Business

Sphere 3D Corp. was incorporated under the Business Corporations Act (Ontario) on May 2, 2007 as T.B. Mining Ventures Inc. On March 24, 2015, the Company completed a short-form amalgamation with a wholly-owned subsidiary. In connection with the short-form amalgamation, the Company changed its name to “Sphere 3D Corp.” Any reference to the “Company”, “Sphere 3D”, “we”, “our”, “us”, or similar terms refers to Sphere 3D Corp. and its subsidiaries. In January 2022, the Company commenced operations of its Bitcoin mining business and is dedicated to becoming a leader in the blockchain and cryptocurrency industry. The Company has established and plans to continue to grow an enterprise-scale mining operation through the procurement of mining equipment and partnering with experienced service providers.Going ConcernManagement has projected that based on our recurring losses, negative cash flows from operating activities, and our hashing rate at June 30, 2025, cash on hand may not be sufficient to allow the Company to continue operations and there is substantial doubt about the Company’s ability to continue as a going concern within 12 months from the date of issuance of our financial statements if we are unable to raise additional funding for operations. We expect our working capital needs to increase in the