v3.22.4
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash flows from operating activities    
Net income (loss) $ (12,763) $ 31,223
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities    
Depreciation and amortization 3,945 3,624
Non-cash lease expense 1,043 2,279
Amortization of debt discount and debt issuance costs 2,645 230
Deferred income taxes 11 7
Stock-based compensation expense 31 232
Non-cash interest expense 4,010 2,425
Bad debt expense 13 1
Change in fair value of embedded derivative liability 3,072 (788)
Change in fair value of warrant liabilities (11,049) (3,107)
(Gain) loss on extinguishment of debt 5,318 (534)
Changes in assets and liabilities    
Accounts receivable - trade 9,623 (5,644)
Alternative fuels tax credit receivable (54) 819
Due from related party 0 30
Other assets (1,446) (1,595)
Accounts payable 444 (2,798)
Accrued expenses and other current liabilities (957) (6,764)
Accrued interest - related party 205 240
Operating lease liabilities (1,211) (2,187)
Net cash provided by (used in) operating activities 2,880 17,693
Cash flows from investing activities    
Purchases of equipment (13) (72)
Net cash provided by (used in) investing activities (13) (72)
Cash flows from financing activities    
Payments of principal on debt (1,174) (1,283)
Proceeds from issuance of debt - related party 9,625 0
Payments of principal on debt - related party (78) (18,363)
Payment of prepayment penalty fees - related party 0 (777)
Advances from factoring arrangements 64,710 59,621
Payments on factoring arrangements (64,904) (65,919)
Payments on finance lease liabilities (2,177) (1,257)
Net cash provided by (used in) financing activities 6,002 (27,978)
Net increase (decrease) in cash 8,869 (10,357)
Cash - beginning of year 7,329 26,644
Cash - end of year 16,198 16,287
Supplemental disclosures of cash flow information:    
Income tax paid 0 29
Interest paid 1,472 65
Supplemental schedule of non-cash investing and financing activities:    
Right-of-use assets obtained in exchange for finance lease liabilities 4,084 356
Right-of-use assets obtained in exchange for operating lease liabilities 2,327 0
Fair value of warrants and common stock issued in connection with financing arrangements $ 9,708 $ 2,140