v3.22.2.2
CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:    
NET LOSS $ (192,223,000) $ (22,134,000)
Less: Net Income from Discontinued Operations 4,051,000 4,898,000
Net Loss from Continuing Operations (196,274,000) (27,032,000)
Adjustments to Reconcile Net Loss to Net Cash Used in Operating Activities:    
Deferred Income Tax Benefit (6,730,000) 0
Bad Debt Expense 3,050,000 0
Gain from Debt Forgiveness 0 (86,000)
Gain on Sale of Investments 0 (5,337,000)
Loss (Gain) on Extinguishment of Debt (542,000) 5,976,000
Non-Cash Portion of Severance Expense 0 7,990,000
Non-Cash Interest Expense 1,001,000 30,000
Loss on Disposal of Assets 2,208,000 0
Depreciation and Amortization 9,965,000 2,653,000
Amortization of Operating Lease Right-of-Use Asset 1,500,000 633,000
Stock-Based Compensation 4,412,000 2,884,000
Unrealized Gain on Investments (470,000) 0
Impairment Loss 163,698,000 0
Change in Operating Assets and Liabilities:    
Accounts Receivable 1,047,000 (1,076,000)
Inventory 4,485,000 4,018,000
Prepaid Expenses and Other Current Assets (852,000) (1,334,000)
Other Assets 50,000 (263,000)
Accounts Payable and Accrued Expenses 9,928,000 (3,771,000)
Operating Lease Liabilities (2,566,000) 262,000
Net Cash Provided by (Used in) Operating Activities - Continuing Operations (6,090,000) (14,453,000)
Net Cash Provided by (Used in) Operating Activities - Discontinued Operations (427,000) (2,542,000)
NET CASH USED IN OPERATING ACTIVITIES (6,517,000) (16,995,000)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of Property and Equipment (2,129,000) (6,217,000)
Proceeds from (Issuance of) Notes Receivable 375,000 (15,000,000)
Cash from Acquisitions 0 2,258,000
Proceeds from Sale of Investments 0 39,382,000
Proceeds from Sale of Assets 450,000 72,000
Net Cash Provided by (Used in) Investing Activities - Continuing Operations (1,304,000) 20,495,000
Net Cash Provided by (Used in) Investing Activities - Discontinued Operations 20,709,000 8,350,000
NET CASH PROVIDED BY INVESTING ACTIVITIES 19,405,000 28,845,000
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from Issuance of Notes Payable 0 6,000,000
Payments of Debt Principal (21,723,000) (3,778,000)
Cash Paid for Debt Issuance Costs 0 (178,000)
Proceeds from Issuance of Common Stock 4,375,000 0
NET CASH PROVIDED BY / (USED IN) FINANCING ACTIVITIES (17,348,000) 2,044,000
NET CHANGE IN CASH (4,460,000) 13,894,000
Cash at Beginning of Period 6,891,000 217,000
Cash Reclassed to Discontinued Operations (442,000) 0
CASH AT END OF PERIOD 1,989,000 14,111,000
SUPPLEMENTAL DISCLOSURE FOR OPERATING ACTIVITIES:    
Cash Paid for Interest 1,590,000 705,000
SUPPLEMENTAL DISCLOSURE FOR NON-CASH INVESTING AND FINANCING ACTIVITIES:    
Debt Principal and Accrued Interest Converted into Common Stock 75,000 5,056,000
Promissory Note Issued for Severance 0 2,100,000
Net Assets Transferred to Assets Held For Sale 851,000 0
Fixed Assets in Accounts Payable 0 100,000
Stock Options Exercised on a Net Share Basis 0 3,000
Non-Cash Acquisition of UMBRLA Inc. 0 79,032,000
Non-Cash Capital Expenditures 0 2,986,000
Non-Cash Acquisition of People's 0 58,749,000
Issuance of UMBRLA Holdback Shares $ 23,000 $ 0

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