Annual report [Section 13 and 15(d), not S-K Item 405]

Consolidated Statements of Cash Flows

v3.25.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Cash flows from operating activities:    
Net loss $ (99,670) $ (63,817)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Unrealized loss on investments 1 6,401
(Gain) loss on sale of assets and other (717) (8,795)
Depreciation and amortization 19,255 21,552
Amortization of operating lease right-of-use assets 2,809 2,587
Payments on operating lease liability (2,455)  
Change in allowance for doubtful accounts (274) 677
Deferred tax 4,354 (5,030)
Share-based compensation expense (benefit) 83 (1,665)
Accretion of debt discount 1,756 2,287
Loan receivable losses   5,602
Impairment loss and loss on disposal of assets 43,093 12,600
Inventory adjustments 1,024 7,554
Non-cash interest expense 16,632 5,435
Net change in working capital items:    
Trade receivables, net 6,315 8,102
Inventories 7,063 12,447
Prepaid expenses and other current assets 424 (628)
Accounts payable and accrued liabilities 2,807 (1,850)
Income tax payable 251 1,585
Deferred revenue (2,940) 323
Net cash (used in) provided by operating activities (189) 5,367
Cash flows from investing activities:    
Purchases of property, plant, and equipment (892) (713)
Proceeds from sale of property, plant and equipment   15,000
Repayment of loan receivable, net of advances 150 (2,517)
Proceeds from CGSF/SFNY Divestiture   1,400
Net cash (used in) provided by investing activities (742) 13,170
Cash flows from financing activities:    
Payments on financing lease liability (1,070) (3,239)
Repayments on notes payable and Massachusetts Lease Liability   (15,116)
Repayments on Revolving Facility (77,080) (125,991)
Debt issuance costs   (1,507)
Proceeds from Revolving Facility 76,738 119,568
Proceeds from 2024 Standard Farms Loan 3,325  
Proceeds from notes payable and Massachusetts Lease Liability   4,000
Proceeds from Employee Retention Credit   3,594
Net cash provided by (used in) financing activities 1,913 (18,691)
Effect of foreign exchange on cash and cash equivalents (11) (14)
Net change in cash and cash equivalents and restricted cash 971 (168)
Cash and cash equivalents and restricted cash, beginning of year 3,332 3,500
Cash and cash equivalents and restricted cash, end of year 4,303 3,332
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 15,185  
Reclassification from accounts payable and accrued liabilities to notes payable related to 2023 New Notes (see 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
Supplemental disclosure of cash flow information:    
Cash paid for interest 6,101 13,690
Cash paid for income taxes 121 22
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