Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Cash flows from operating activities:    
Net loss $ (63,817) $ (107,464)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Unrealized loss on investments 6,401 296
(Gain) loss on sale of assets and other (8,795) 6
Depreciation and amortization 21,552 23,931
Amortization of operating lease right of use assets 2,587 579
Change in allowance for doubtful accounts 677 (167)
Non-cash interest income   (67)
Deferred tax (5,030) 1,288
Share-based compensation (benefit) expense (1,665) 3,327
Accretion of debt discount 2,287 2,580
Change in fair value of warrant liability   (2,394)
Loan receivable losses 5,602 1,677
Impairment loss and loss on disposal of assets 12,600 62,143
Inventory adjustments 7,554 1,034
Non-cash interest expense 5,435 4,229
Net change in working capital items:    
Trade receivables, net 8,102 5,862
Inventories 12,447 1,652
Prepaid expenses and other current assets (628) (427)
Accounts payable and accrued liabilities (1,850) 8,965
Income tax payable 1,585 979
Deferred revenue 323 583
Net cash provided by operating activities 5,367 8,612
Cash flows from investing activities:    
Purchases of property, plant, and equipment (713) (15,142)
Proceeds from sale of property, plant and equipment 15,000 9
Advances of loan receivable, net of repayments (2,517) (1,704)
Proceeds from CGSF/SFNY Divestiture 1,400  
Net cash provided by (used in) investing activities 13,170 (16,837)
Cash flows from financing activities:    
Payments on lease liability (3,239) (2,002)
Repayments on notes payable and Massachusetts Lease Liability (15,116) (167,608)
Repayments on Revolving Facility (125,991)  
Debt issuance costs (1,507)  
Proceeds from notes payable and Massachusetts Lease Liability 4,000 174,393
Proceeds from Revolving Facility 119,568  
Proceeds from Employee Retention Credit 3,594  
Net cash (used in) provided by financing activities (18,691) 4,783
Effect of foreign exchange on cash and cash equivalents (14) (10)
Net change in cash and cash equivalents and restricted cash (168) (3,452)
Cash and cash equivalents and restricted cash, beginning of year 3,500 6,952
Cash and cash equivalents and restricted cash, end of year 3,332 3,500
Supplemental disclosures of non-cash investing and financing activities:    
Increases to right of use assets related to Pennsylvania Transaction 11,974  
Increase to operating lease liability related to Pennsylvania Transaction 11,880  
Reclassification from accounts payable and accrued liabilities to notes payable related to 2023 New Notes (Note 11) 8,260  
Warrants issued related to 2023 Notes (equity classified) 5,106  
Noteholder representative fee related to 2023 Refinanced Notes 1,620  
Non-cash debt issuance cost 500  
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
Supplemental disclosure of cash flow information:    
Cash paid for interest 13,690 6,449
Cash paid for income taxes $ 22 $ 433