Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.24.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Cash Flow from Operating Activities    
Net loss from continuing operations $ (19,797) $ (37,804)
Net Income/ (loss) from discontinuing operations 1,898 (28,361)
Net loss (17,899) (66,165)
Adjustments to reconcile to net cash used in operating activities:    
Depreciation and amortization 2,374 3,672
Amortization of debt discount and debt issuance cost 0 1,949
Inventory provision 1,359 4,736
Restructuring and related costs 0 25,809
Gain on sale of fixed assets (2,862) 0
Gain on remeasurement of warrant liability (113) (2,092)
Deferred income tax recovery 0 (6,650)
Foreign exchange loss 468 1,129
Share-based compensation expense 818 2,343
Intangible asset impairment 0 19,000
Amortization of right of use assets 474 0
Loss on equity method investment, net 0 64
Loss (Gain) on investment 3,738 (6,851)
Loss on debt extinguishment, net 0 2,263
Other non-cash expense, net 0 727
Changes in operating assets and liabilities:    
Decrease (Increase) in accounts receivable 1,345 (278)
Decrease in prepaid expenses 809 190
Decrease in other receivables and other non-current assets 52 538
Decrease (Increase) in inventory 2,556 (4,453)
(Decrease) in lease liabilities (588) 0
(Decrease) in accounts payable and other current liabilities (2,886) (4,749)
(Decrease) in deferred revenue (1,052) 0
(Decrease) in accrued and other non-current liabilities (101) (248)
Net cash used in operating activities (11,508) (29,066)
Cash Flow from Investing Activities    
Proceeds from sale of assets 2,862 0
Purchase of property, plant and equipment (31) (1,306)
Proceeds from sale of investments 1,863 2,498
Net cash provided by investing activities 4,694 1,192
Cash Flow from Financing Activities    
Repayment of debt (484) (23,131)
Other borrowings 0 73
Proceeds from issuance of shares 1,339 27,686
Equity issuance costs (199) (1,361)
Stock option exercised 0 22
Net cash provided by financing activities 656 3,289
Effect of exchange rate changes on cash, cash equivalents & restricted cash 171 (226)
(Decrease) in cash, cash equivalents and restricted cash (5,987) (24,811)
Cash, cash equivalents & restricted cash, beginning of period [1] 12,888 37,699
Cash, cash equivalents & restricted cash, end of period [1] 6,901 12,888
Supplemental schedule of cash flow information:    
Cash paid for interest 205 285
Supplemental disclosures for non-cash activity:    
Conversions of debt to common shares 0 3,363
Cancellation of shares (250) 0
Right-of-use asset recognized 176 3,764
Beneficial conversion feature 0 1,749
Non-cash paid-in-kind-interest $ 0 $ 281
[1] These amounts include restricted cash of $70 and $439 as of December 31, 2023 and December 31, 2022, respectively, which are comprised primarily of cash on deposits for certain lease arrangements.