Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

v3.24.3
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash flows from operating activities:    
Net loss $ (58,247) $ (41,866)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Unrealized loss on investments 1 6,401
Gain on sale of assets and other (717) (8,133)
Depreciation and amortization 14,611 16,527
Amortization of operating lease right of use assets 2,112 1,887
Payments on operating lease liability (1,845)  
Change in allowance for doubtful accounts (117) 328
Deferred tax 3,137 (3,947)
Share-based compensation expense (benefit) 261 (1,875)
Accretion of debt discount 1,246 1,466
Loan receivable losses   5,602
Impairment loss and loss on disposal of assets 15,740 5,135
Inventory adjustments 498 5,831
Non-cash interest expense 12,216 4,255
Net change in working capital items:    
Trade receivables, net 7,704 5,394
Inventories 7,172 8,644
Prepaid expenses and other current assets (34) (1,185)
Accounts payable and accrued liabilities (1,004) (1,788)
Income tax payable (66) 435
Deferred revenue (2,349) (1,720)
Net cash provided by operating activities 319 1,391
Cash flows from investing activities:    
Purchases of property, plant, and equipment (572) (351)
Proceeds from sale of property, plant and equipment   15,000
Repayment of loan receivable, net of advances 121 (2,806)
Proceeds from CGSF/SFNY Divestiture   1,400
Net cash (used in) provided by investing activities (451) 13,243
Cash flows from financing activities:    
Payments on financing lease liability (889) (2,348)
Repayments on notes payable and Massachusetts Lease Liability   (14,825)
Repayments on Revolving Facility (64,613) (94,870)
Debt issuance costs   (1,507)
Proceeds from Revolving Facility 63,219 91,283
Proceeds from 2024 Standard Farms Loan 3,000  
Proceeds from notes payable and Massachusetts Lease Liability   4,000
Proceeds from Employee Retention Credit   2,930
Net cash provided by (used in) financing activities 717 (15,337)
Effect of foreign exchange on cash and cash equivalents (8) (14)
Net change in cash and cash equivalents and restricted cash 577 (717)
Cash and cash equivalents and restricted cash, beginning of year 3,332 3,500
Cash and cash equivalents and restricted cash, end of year 3,909 2,783
Supplemental disclosures of non-cash investing and financing activities:    
Decrease in inventory related to the 2024 Standard Farms Loan 2,316  
Increase in other assets related to the 2024 Standard Farms Loan 1,654  
Increase in notes payable, discount related to the 2024 Standard Farms Loan 662  
2023 Refinanced Notes interest paid-in-kind 11,878  
Reclassification from accounts payable and accrued liabilities to notes payable related to 2023 New Notes (see Note 10)   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
Supplemental disclosure of cash flow information:    
Cash paid for interest 4,713 10,349
Cash paid for income taxes 111  
OHIO    
Supplemental disclosures of non-cash investing and financing activities:    
Increases to right-of-use assets 80  
Increase to operating lease liability $ 80  
PENNSYLVANIA    
Supplemental disclosures of non-cash investing and financing activities:    
Increases to right-of-use assets   11,974
Increase to operating lease liability   $ 11,880