Annual report pursuant to Section 13 and 15(d)

Consolidated and Combined Statements of Cash Flows

v3.22.1
Consolidated and Combined Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Cash flows from operating activities:    
Net loss $ (3,518) $ (20,591)
Adjustments to reconcile net loss to net cash flows used in operating activities:    
Depreciation and amortization 1,047 1,525
Amortization of operating lease assets 1,011 1,081
Asset impairment charges 1,456 1,578
Gain on extinguished lease liabilities (412) (506)
Gain on sale of subsidiary (58)
Operating lease liabilities remeasurement (224)
Warrant issued for True-Up payment extension 28
Share-based compensation 48
Change in fair value of investment 244 1,232
Change in fair value of convertible promissory note (95)
Amortization of debt discount 186 134
Loss on extinguishment of redeemable Series 1 Preferred 162
Debt extinguishment expense 11,808
Change in fair value of derivative liabilities (119) (616)
Change in operating assets and liabilities (net of impact for acquisition):    
Accounts and other receivables (555) (33)
Prepaid expenses and other assets (22) (29)
Inventories (46) 107
Accounts payable and accrued expenses (1,592) 377
Deferred tax liabilities 41 6
Deferred grant income (455)
Operating lease liabilities (1,495) (1,492)
Derivative liabilities (66)
Contract liabilities (74) (164)
Net cash flows used in operating activities (4,474) (5,617)
Cash flows from investing activities:    
Cash and restricted cash acquired in connection with acquisition of Pie Squared Holdings 2,071
Purchase of property and equipment (129) (64)
Net proceeds from sale of subsidiary 568
Proceeds from sale of investments 468
Net cash flows provided by (used in) investing activities 2,978 (64)
Cash flows from financing activities:    
Proceeds from Series 2 Preferred stock 1,405
Proceeds from warrant exercises 885
Redemption of Series 1 Preferred (880)
Loan proceeds 2,000 2,992
Loan repayments (53) (2,706)
Merger consideration, net 5,412
Distributions to non-controlling interests (45)
Net cash flows provided by financing activities 1,902 7,108
Effect of exchange rate of cash (16)
Net increase in cash and restricted cash 390 1,427
Cash and restricted cash, beginning of year 1,928 501
Cash and restricted cash, end of year 2,318 1,928
Supplemental cash flow information:    
Interest 402 472
Income taxes 76 26
Non-cash investing and financing activities    
Preferred stock dividends paid through issuance of common stock 20
Issuance of convertible promissory note as consideration for Pie Squared Holdings acquisition 1,194
Change in operating lease assets and liabilities due to new and amended leases 404
Conversion of Preferred Series 2 stock to common stock 402 416
Accrued interest paid through warrant exercise 319
Bifurcation of derivative liability from Preferred Series 2 stock 529
Warrant portion of merger consideration 1,629
Reclassification of warrants and conversion feature from liability to equity $ 11,894