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, 2021
Dec. 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss attributable to Unrivaled Brands, Inc. $ (31,875) $ (30,871)
Less: Income from discontinued operations 11,186 (22,865)
Net loss from continuing operations (43,061) (8,006)
Adjustments to reconcile net loss to net cash used in operating activities:    
Deferred tax expense 835 0
Bad debt expense (3,097) 650
Depreciation and amortization 6,198 3,920
Impairment loss 6,171 19,910
Gain on sale of assets (3,133) 0
Discount on issuance of common stock 756 0
Gain on debt forgiveness (86) 0
Gain on sale of investments (5,337) 0
Amortization of operating lease right of use asset 3,193 857
Loss (gain) on extinguishment of debt 5,976 0
Non-cash interest expense 1,977 1,004
Non-cash portion of severance expense 7,990 0
Stock-based compensation 4,056 2,175
Unrealized gain on investments 0 (29,045)
Other 0 841
Change in operating assets and liabilities:    
Accounts receivable 3,029 227
Inventory 1,832 3,575
Prepaid expenses and other current assets 579 461
Other assets 684 (524)
Accounts payable and accrued expenses (2,636) (566)
Operating lease liabilities (1,083) (1,093)
Net cash provided by / (used in) operating activities - continuing operations (15,160) (5,614)
Net cash provided by / (used in) operating activities - discontinued operations (2,586) (9,223)
NET CASH PROVIDED BY / (USED IN) OPERATING ACTIVITIES (17,745) (14,837)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Sale of property, equipment and leasehold improvements 15,264 20,772
Insurance proceeds for damaged assets 0 452
Issuance of note receivable 0 (250)
Cash from acquisitions 2,309 57
Cash paid for acquisitions (24,397) 0
Proceeds from sales of investments 39,382 0
Proceeds from sales of assets 0 0
Net cash provided by / (used in) investing activities - continuing operations 32,558 21,031
Net cash provided by / (used in) investing activities - discontinued operations (11,768) (9,228)
NET CASH PROVIDED BY / (USED IN) INVESTING ACTIVITIES 20,790 11,803
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from issuance of notes payable 8,500 2,954
Payments of debt principal (6,774) (507)
Proceeds from issuance of common stock 3,005 250
Purchase of treasury stock (228) 0
Cash contribution from non-controlling interest 0 152
Cash distribution to non-controlling interest 0 (145)
Other 0 (8)
Net cash provided by / (used in) financing activities - continuing operations 4,502 2,696
Net cash provided by / (used in) financing activities - discontinued operations 0 0
NET CASH PROVIDED BY / (USED IN) FINANCING ACTIVITIES 4,502 2,696
NET CHANGE IN CASH 7,547 (338)
Cash at beginning of period 217 1,226
Cash reclassified to discontinued operations (873) (671)
CASH AT END OF PERIOD 6,891 217
SUPPLEMENTAL DISCLOSURE FOR OPERATING ACTIVITIES:    
Cash paid for interest 633 1,177
SUPPLEMENTAL DISCLOSURE FOR NON-CASH INVESTING AND FINANCING ACTIVITIES:    
Non-cash Capex 2,986 0
Stock issued for the acquisition of OneQor 0 9,305
Promissory note issued for severance 2,100 0
Stock issued for prior year bonuses 0 469
Stock options exercised on a net share basis 3 0
Fixed assets in accounts payable 100 484
Non-cash consideration for acquisition of Umbrla Inc 79,032 0
Non-cash consideration for acquisition of People's, including acquisition liabilities outstanding 58,749 0
Non-cash consideration for acquisition of Silverstreak, including acquisition liabilities outstanding 8,500 0
Debt principal and interest converted to common stock $ 5,056 $ 2,444