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, 2022
Dec. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net Loss $ (188,656) $ (31,875)
Less: Net Income from Discontinued Operations 4,194 10,190
Net Loss from Continuing Operations (192,850) (42,065)
Adjustments to Reconcile Net Loss to Net Cash Used in Operating Activities:    
Deferred Income Tax (Benefit) Expense (6,123) 835
Bad Debt Expense (Recovery) 2,560 (3,097)
(Gain) from Debt Forgiveness 0 (86)
(Gain) on Sale of Investments 0 (5,337)
(Gain) Loss on Extinguishment of Debt (542) 5,976
Non-Cash Portion of Severance Expense 0 7,990
Non-Cash Interest Expense 1,326 1,977
Gain on Disposal of Assets (7,194) (3,133)
Discount on Issuance of Common Stock 0 756
Depreciation and Amortization 11,212 6,146
Amortization of Operating Lease Right-of-Use Asset 2,189 3,193
Stock-Based Compensation 4,919 4,056
Unrealized (Gain) on Investments (210) 0
Impairment Loss 163,698 6,171
Accounts Receivable    
Accounts Receivable 1,140 3,209
Inventory 4,238 1,989
Prepaid Expenses and Other Current Assets 286 616
Other Assets (4,819) (739)
Accounts Payable and Accrued Expenses 7,364 (3,905)
Operating Lease Liabilities (3,466) (1,183)
Net Cash Used in Operating Activities - Continuing Operations (6,634) (15,153)
Net Cash Used in Operating Activities - Discontinued Operations (1,200) (2,806)
NET CASH USED IN OPERATING ACTIVITIES (7,834) (17,959)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of Property and Equipment (1,922) (3,970)
Proceeds from Notes Receivable 375 0
Cash Paid for Acquisitions 0 (24,397)
Cash from Acquisitions 0 2,309
Proceeds from Sale of Investments 0 39,382
Proceeds from Sale of Assets 450 0
Net Cash Provided by (Used in) Investing Activities - Continuing Operations (1,097) 13,324
Net Cash Provided by Investing Activities - Discontinued Operations 20,709 8,350
NET CASH PROVIDED BY INVESTING ACTIVITIES 19,612 21,674
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from Issuance of Notes Payable 0 8,500
Payments of Debt Principal (21,650) (6,774)
Cash Paid for Debt Issuance Costs 0 (228)
Proceeds from Issuance of Common Stock 4,375 3,005
CASH AT END OF PERIOD (17,275) 4,503
NET CHANGE IN CASH (5,497) 8,218
Cash at Beginning of Period 6,700 217
Cash Reclassed to Discontinued Operations (3) (1,735)
CASH AT END OF PERIOD 1,200 6,700
SUPPLEMENTAL DISCLOSURE FOR OPERATING ACTIVITIES:    
Cash Paid for Interest 1,590 633
SUPPLEMENTAL DISCLOSURE FOR NON-CASH INVESTING AND FINANCING ACTIVITIES:    
Debt Principal and Accrued Interest Converted into Common Stock 75 5,056
Promissory Note Issued for Severance 0 2,100
Fixed Assets in Accounts Payable 0 100
Stock Options Exercised on a Net Share Basis 0 3
Non-Cash Acquisition of UMBRLA Inc. 0 79,032
Non-Cash Capital Expenditures 0 2,986
Non-Cash Acquisition of People's 0 58,749
Non-Cash Acquisition of Silverstreak 0 8,500
Issuance of Shares for Purchase Options 1,500 0
Issuance of UMBRLA Holdback Shares $ 23 $ 0