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Unaudited Interim Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Operating activities    
Net loss from continuing operations $ (14,851) $ (19,178)
Adjustments to reconcile net loss to net cash provided by operating activities    
Non-cash adjustments of inventory 0 797
Accretion expense 5,875 4,763
Depreciation of property and equipment and amortization of intangible assets 5,000 4,771
Amortization of operating right-of-use assets 716 454
Share-based compensation 1,485 1,713
Deferred income tax expense (256) 1,446
Loss (gain) on fair value of warrants and purchase option derivative 983 (438)
Gain on disposal of fixed assets 0 307
Loss from revaluation of contingent consideration 1,393 0
Impairment of property and equipment and right of use assets 2,438  
Loss on derecognition of right of use assets and lease termination 0 205
Bad debt expense 67  
Unrealized and realized foreign exchange loss (gain) 285 (31)
Unrealized and realized loss on investments 0 699
Changes in operating assets and liabilities    
Receivables 1,954 773
Inventory 2,476 (4,969)
Prepaid expense and other current assets 1,189 1,203
Deposits 0 97
Other assets (12) (131)
Accounts payable and accrued liabilities and other payables (3,511) 6,882
Operating lease liability (670) (473)
Other liability (537) (14)
Uncertain tax position liabilities 8,503  
Corporate income tax payable 368 11,773
Deferred revenue 356 (195)
Net cash provided by operating activities- continuing operations 13,251 10,454
Net cash used in operating activities - discontinued operations 0 (2,020)
Net cash provided by operating activities 13,251 8,434
Investing activities    
Investment in property and equipment (2,796) (2,497)
Investment in intangible assets (127) (14)
Principal payments received on lease receivable   111
Success fees related to ATC and other investment   738
Payment for land contracts (250) (308)
Cash portion of consideration paid in acquisitions, net of cash of acquired (250) (9,611)
Net cash used in investing activities - continuing operations (3,423) (11,581)
Net cash provided investing activities - discontinued operations 0 0
Net cash used in investing activities (3,423) (11,581)
Financing activities    
Transfer of Employee Retention Credit   12,677
Proceeds from loan payable, net of transaction costs 3,137 0
Proceeds from options and warrants exercised 0 81
Loan principal paid (12,215) (1,204)
Capital distributions paid to non-controlling interests (337) (1,884)
Payments made for financing obligations and finance lease (184) (157)
Net cash (used in) provided by financing activities- continuing operations (9,599) 9,513
Net cash used in financing activities- discontinued operations   (115)
Net cash (used in) provided by financing activities (9,599) 9,398
Net increase in cash and cash equivalents and restricted cash during the period 229 6,251
Net effects of foreign exchange 198 523
Cash and cash equivalents and restricted cash, beginning of the period 25,347 26,763
Cash and cash equivalents and restricted cash, end of the period 25,774 33,537
Supplemental disclosure with respect to cash flows    
Income taxes paid (refund received) 1,013 (551)
Interest paid 6,264 2,456
Lease termination fee paid 163  
Non-cash transactions    
Equity and warrant liability issued for acquisitions and non-controlling interest 4,674 750
Shares issued for Canopy USA arrangement   593
Accrued capital purchases $ 1,253 $ 555

Source

10-Q PDF
XBRL