v3.25.2
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Cash flows from operating activities:    
Net loss $ (41,746) $ (18,650)
Adjustments to reconcile net loss to net cash and cash equivalents used in operating activities:    
Depreciation and amortization 1,421 1,896
Amortization of debt premium (47) (109)
Amortization of debt issuance costs 24
Stock-based compensation expense 1,165 2,662
Change in fair value of warrant liabilities 17,902 (4,695)
Loss on extinguishment of long-term debt, net 4,311
Change in provision for credit losses, net (336) (15,261)
Change in provision for inventory (747) (14,823)
Loss on abandonment of CIP projects 31
(Gain) loss on disposal of property and equipment 14 (63)
Gain on early termination of lease (50)
Gain on settlement of contingent liability (5,935)
Loss on disposal of Cultivation business 11,893
Change in contingent consideration (2,180)
Changes in operating assets and liabilities, net of acquisitions:    
Accounts receivable 646 1,347
Inventory 8,341 17,158
Prepaid expenses and other current assets 1,872 (566)
Operating lease right-of-use assets 528 954
Other non-current assets 46 170
Accounts payable (4,562) 108
Accrued expenses and other current liabilities 1,258 (4,473)
Operating lease liabilities (519) (872)
Contract liabilities (578) (93)
Net cash and cash equivalents used in operating activities (11,583) (30,975)
Cash flows from investing activities:    
Purchases of property and equipment (4) (59)
Proceeds from disposal of property and equipment 20 311
Proceeds from sale of marketable securities 10,461
Issuance of loans receivable (400) (591)
Proceeds from repayment of loan receivable 330 15,057
Net cash and cash equivalents (used in) provided by investing activities (54) 25,179
Cash flows from financing activities:    
Proceeds from issuance of Common Stock through an S-1 and Pre-Funded Warrants offering 2,123
Proceeds from issuance of Common Stock through an “at the market” offering, net of fees 1,545
Proceeds from issuance of Common Stock through IONIC Stock Subscription 345
Proceeds from the issuance of Common Stock in connection with private placement, net 25,793
Proceeds from Employee Stock Purchase Plan Shares 25
Proceeds from exercise of Pre-Funded Warrants 36
Proceeds from issuance of warrants in settlement agreement 1,554
Proceeds from issuance of related party notes 14,453 4,444
Repayments of notes payable, other (71)
Repayment of debt in private placement (10,307)
Payments on other financing loans (5)
Payments on insurance financing loans (377) (1,332)
Payments of financing leases (80)
Net cash and cash equivalents provided by (used in) financing activities 42,373 (4,227)
Net increase (decrease) in cash and cash equivalents 30,736 (10,023)
Cash and cash equivalents at the beginning of period 434 10,457
Cash and cash equivalents of discontinued operations, beginning of period
Cash and cash equivalents of discontinued operations, end of period
Cash and cash equivalents at the end of period 31,170 434
Supplemental disclosures    
Cash paid for interest 76
Supplemental disclosure of non-cash investing and financing activities    
Fair value of warrants in connection with reclassification and issuance 6,791 5,432
Financing of prepaid insurance 14 1,694
Cashless exercise of liability classified warrants 1,680
Conversion of related party debt to equity 10,044
Transfer of property and equipment to inventory 33
Conversion of liability classified pre-funded warrants to equity 20,771
Deemed contribution from troubled debt restructuring with related party 676
Stock and warrants issued in connection with business combination 18,836
Conversion of convertible notes into equity $ 1,731 $ 3,306