v3.19.3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Cash Flows from Operations    
Net Loss $ (19,801) $ (10,127)
Adjustments to reconcile net loss to cash used in operating activities:    
Depreciation and amortization 1,601 988
Accretion of debt discount 170
Stock based compensation 38 143
Common stock and warrants issued for services 6,659 2,137
Gain on disposal of fixed assets (16)
Deferred revenue and customer deposits (44)
Provision for doubtful accounts 127
Amortization of right-of-use assets 573
Changes in operating assets:    
Accounts receivable (151) 49
Inventory 17 554
Prepaid and other current assets (629) (167)
Accounts payable (407) 137
Accrued Expenses 1,051 (168)
Payments on lease liabilities (769)
Net cash used in operating activities (11,691) (6,344)
Cash Flows from Investing Activities    
Deposit on acquisition (550) 69
Cash acquired in acquisition of businesses 69
Cash paid for acquisitions (6,500) (3,768)
Cash paid for noncompete agreements (2,000) (1,658)
Purchase of property and equipment (4,868) (948)
Purchase of intangibles (2,255)
Security deposit 1,143 10
Net cash used in investing activities (14,961) (6,294)
Cash Flows from Financing Activities    
Common shares issued for the exercise of warrants 1,202 1
Proceeds for common stock issued for cash 27,970 664
Fractional share repayment (4)
Finance lease payments (106) (29)
Payments on notes payable (497)
Proceeds from notes payables 244
Net proceeds on related party notes and advances 23
Repayment of related party notes (119)
Water Pilot financing 957
Net proceeds on issuance of series C preferred stock units, net of costs 449 14,942
Stock Issuance costs (1,368) (1,342)
Repurchase of Series C & E preferred stock (3,500)
Net cash provided by financing activities 25,600 13,887
Net increase in cash (1,052) 1,249
Cash and restricted cash, beginning of period 2,405 587
Cash and restricted cash, end of period 1,353 1,836
Supplemental disclosure of cash flow information Cash paid during the period for:    
Interest 96
Supplemental disclosures of non-cash investing and financing activities:    
Common shares issued for settlement of accounts payable 393 565
Series E preferred stock 50
Conversion of Series C preferred stock into shares of common stock 1,775
Conversion of Series E preferred stock into shares of common stock 7 381
Conversion of Series F preferred stock into shares of common stock 556
Series F preferred stock issued for the settlement of accounts payable 556
Deemed dividend in connection with the issuance of Series C Preferred stock (1,660)
Common stock issued for purchase of subsidiary 2,232
NG Enterprises Inc [Member]    
Supplemental disclosures of non-cash investing and financing activities:    
Assets acquired 916
Liabilities assumed (149)
Green Arc Supply, L.L.C. [Member]    
Supplemental disclosures of non-cash investing and financing activities:    
Assets acquired 2,399
Liabilities assumed (154)
Fair value of common stock issued in Green Arc Supply acquisition 1,260
Trico Welding Supplies, Inc [Member]    
Supplemental disclosures of non-cash investing and financing activities:    
Assets acquired 3,052
Liabilities assumed (1,106)
Tyler Welders Supply [Member]    
Supplemental disclosures of non-cash investing and financing activities:    
Assets acquired 1,620
Liabilities assumed (653)
Cylinder Solutions, Inc [Member]    
Supplemental disclosures of non-cash investing and financing activities:    
Assets acquired 376
Liabilities assumed (41)
Complete Cutting & Welding Supplies, Inc [Member]    
Supplemental disclosures of non-cash investing and financing activities:    
Assets acquired 1,083
Liabilities assumed $ (316)

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