v3.23.3
Unaudited Interim Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Operating activities    
Net loss from continuing operations $ (40,472) $ (297,452)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities    
Non-cash adjustments of inventory 728 8,401
Accretion expense 7,497 5,676
Depreciation of property and equipment and amortization of intangible assets 15,179 17,578
Amortization of operating right-of-use assets 1,630 1,513
Share-based compensation 5,469 10,524
Deferred income tax expense 1,099 (44,266)
Loss (gain) on fair value of warrants and purchase option derivative 2,564 (58,555)
(Gain) loss on disposal of fixed assets (1,534) 848
(Gain) loss from revaluation of contingent consideration (645) 189
Impairment of intangible assets   152,928
Impairment of goodwill   178,314
Release of indemnification asset   3,973
Unrealized and realized foreign exchange (gain) loss (175) 624
Unrealized and realized loss on investments 2,365 3
Changes in operating assets and liabilities    
Receivables (5,224) 2,769
Inventory (10,750) (1,104)
Prepaid expense and other current assets (808) 611
Deposits 411 2,340
Other assets 718 (1,522)
Accounts payable and accrued liabilities and other payables 7,395 (11,706)
Operating lease liability (1,566) (889)
Other liability 1,542 (9,627)
Contingent consideration payable   (410)
Corporate income tax payable 35,140 9,451
Deferred revenue 1,149 427
Net cash provided by (used in) operating activities- continuing operations 21,712 (29,362)
Net cash used in operating activities- discontinued operations (3,660) (4,069)
Net cash provided by (used in) operating activities 18,052 (33,431)
Investing activities    
Investment in property and equipment (6,224) (24,280)
Investment in intangible assets (262) (1,330)
Principal payments received on lease receivable   394
Receipt of convertible debenture payment 738  
Deposits for property and equipment   (1,455)
Deposits for business acquisition   (852)
Success fees related to Alternative Treatment Center license (3,750)  
Payment for land contracts (1,047) (888)
Cash portion of consideration (received) paid in acquisitions, net of cash of acquired (17,032) 16,227
Net cash (used in) investing activities- continuing operations (27,577) (12,184)
Net cash provided by (used in) investing activities- discontinued operations 14,285 (398)
Net cash used in investing activities (13,292) (12,582)
Financing activities    
Transfer of Employee Retention Credit 12,677  
Proceeds from loan payable, net of transaction costs 23,869  
Proceeds from options and warrants exercised 81 24,158
Loan principal paid (46,029) (6,088)
Loan amendment fee paid and prepayment premium paid (1,178) (2,309)
Cash distributions to partners (6,966) (1,436)
Capital contributions paid to non-controlling interests   (1,237)
Payments of contingent consideration   (6,630)
Proceeds from private placement, net of share issuance costs 21,260  
Payments made for financing obligations and finance lease (1,158) (921)
Net cash provided by financing activities- continuing operations 2,556 5,537
Net cash used in financing activities- discontinued operations (5,539)  
Net cash (used in) /provided by financing activities (2,983) 5,537
Net increase (decrease) in cash and cash equivalents and restricted cash during the period 1,777 (40,476)
Net effects of foreign exchange (24) (3,847)
Cash and cash equivalents and restricted cash, beginning of the period 26,763 79,642
Cash and cash equivalents and restricted cash, end of the period 28,516 35,319
Supplemental disclosure with respect to cash flows    
Income taxes (refund received) paid (4,582) 9,213
Interest paid 16,683 20,643
Lease termination fee paid 217 3,300
Non-cash transactions    
Equity and warrant liability issued as consideration for acquisition 8,600 337,739
Warrant issued as consideration for services 1,000  
Promissory note issued as consideration for acquisitions 11,689 10,000
Shares issued for legal and liability settlement 794 264
Accrued capital purchases $ 936 $ 12,118

Source