v3.21.2
Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Operating Activities:    
Consolidated net income (loss) $ 13,068 $ (12,302)
Adjustments to reconcile consolidated net income (loss) to net cash provided by operating activities:    
Depreciation 11,670 18,806
Asset impairments 3,100
Income from loan forgiveness (3,887)
Non-cash compensation 1,655 1,441
Amortization of deferred financing fees 701 497
Fair value adjustments 641
Interest added to debt 133
Bad debt expense 143 1
Changes in operating assets and liabilities:    
Accounts receivable (23,694) 25,435
Inventories (18,526) 14,274
Prepaid expenses and other assets 8,615 (403)
Prepaid inventory 361 (1,652)
Operating leases (2,069) (2,348)
Assets held-for-sale (2,915) 1,012
Liabilities held-for-sale 1,445 9,345
Accounts payable and accrued expenses 11,096 (9,225)
Net cash provided by operating activities 763 45,655
Investing Activities:    
Proceeds from Madera Sale 19,500
Proceeds from PAL Sale 19,896
Additions to property and equipment (4,192) (2,510)
Net cash provided by investing activities 15,308 17,386
Financing Activities:    
Net proceeds from (payments on) Kinergy’s line of credit 24,406 (36,897)
Proceeds from stock option exercises 462
Principal payments on borrowings (37,810) (25,500)
Proceeds from issuance of common stock 282
Proceeds from borrowings 9,860
Net cash used in financing activities (12,942) (52,255)
Net change in cash and cash equivalents 3,129 10,786
Cash and cash equivalents at beginning of period 47,667 [1] 18,997
Cash and cash equivalents at end of period 50,796 29,783
Supplemental Information:    
Interest paid 2,723 9,733
Accrued preferred stock dividends $ 627 $ 630
[1] Amounts derived from the audited consolidated financial statements for the year ended December 31, 2020.

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