Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.22.4
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Cash flows from operating activities:    
Net loss $ (107,464) $ (35,126)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:    
Unrealized loss on investments 296 891
Loss on termination of lease   210
Disposal expense and other 6  
Depreciation and amortization 23,931 22,438
Amortization of operating lease right of use assets 579 1,231
Change in allowance for doubtful accounts (167) (188)
Non-cash interest income (67) (500)
Deferred tax 1,288 (13,864)
Share-based compensation 3,327 3,804
Accretion of debt discount 2,580 2,667
Change in fair value of warrant liability (2,394) (6,001)
Loan receivable losses 1,677 4,562
Impairment loss and loss on disposal of assets 62,143 30,398
Non-cash interest expense 4,229 4,050
Net change in working capital items:    
Trade receivables and others, net 5,862 (17,627)
Inventories 2,686 (22,574)
Prepaid expenses and other current assets (427) 1,340
Accounts payable and accrued liabilities 8,965 18,239
Income tax payable 979 (903)
Operating lease liability   (512)
Deferred revenue 583 (1,134)
Net cash provided by (used in) operating activities 8,612 (8,599)
Cash flows from investing activities:    
Purchases of property, plant, and equipment (15,142) (3,064)
Proceeds from sale of property, plant and equipment 9 1,233
Repayment of loan receivable, net of advances (1,704) 2,417
Cash paid for acquisitions   (400)
Net cash (used in) provided by investing activities (16,837) 186
Cash flows from financing activities:    
Payments on lease liability (2,002) (2,311)
Repayments on notes payable (167,608) (47,973)
Debt issuance costs   (469)
Proceeds from notes payable and Massachusetts lease liability 174,393 57,081
Proceeds from options and warrants exercised   186
Net cash provided by financing activities 4,783 6,514
Effect of foreign exchange on cash and cash equivalents (10) (8)
Net change in cash and cash equivalents and restricted cash (3,452) (1,907)
Cash and cash equivalents and restricted cash, beginning of year 6,952 8,859
Cash and cash equivalents and restricted cash, end of year 3,500 6,952
Supplemental disclosures of non-cash investing and financing activities:    
Decreases to right of use assets related to Taunton Facility Transactions (Note 13) 3,940  
Decreases to operating lease liability related to Taunton Facility Transactions (Note 13) 4,454  
Decreases to property, plant, and equipment related to Taunton Facility Transactions (Note 13) 514  
Increases to right of use assets   1,058
Increase to operating lease liability   90
Increase to finance lease liability   965
Conversion of loans receivable to investment (Note 7)   6,400
Shares issued for Standard Farms New York Acquisition (Note 3)   351
Extinguishment of debt for Standard Farms Ohio LLC acquisition (Note 3)   7,550
Extinguishment of existing liabilities from Sante Veritas Therapeutics sale (Note 1)   825
Property and equipment acquired via finance lease   832
Property and equipment acquired via operating lease   139
Supplemental disclosure of cash flow information:    
Cash paid for interest 6,449 2,904
Cash paid for income taxes $ 433 $ 1,198