Quarterly report [Sections 13 or 15(d)]

Consolidated Statements of Cash Flows (Unaudited)

v3.25.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Operating Activities:    
Consolidated net loss $ (11,679) $ (11,725)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:    
Depreciation and amortization of intangibles 6,266 5,728
Gains on derivative instruments (1,773) (3,338)
Non-cash compensation 848 1,142
Inventory valuation 1,170 597
Amortization of deferred financing fees 250 252
Amortization of debt discount 197 200
Credit loss (recovery) 15 (27)
Changes in operating assets and liabilities, net of business acquisition:    
Accounts receivable (7,040) 675
Inventories (1,711) 9,405
Other assets 417 2,106
Operating leases (1,575) (1,415)
Accounts payable and accrued liabilities (3,616) (2,171)
Net cash (used in) provided by operating activities (18,231) 1,429
Investing Activities:    
Additions to property and equipment (532) (4,643)
Purchase of Kodiak Carbonic, net of cash acquired (7,278)
Deferred purchase price payments for Eagle Alcohol (1,400)
Net cash used in investing activities (7,810) (6,043)
Financing Activities:    
Net proceeds from Kinergy’s line of credit 17,313 1,521
Preferred stock dividends paid (312) (315)
Net cash provided by financing activities 17,001 1,206
Net decrease in cash, cash equivalents and restricted cash (9,040) (3,408)
Cash, cash equivalents and restricted cash at beginning of period 36,211 45,480
Cash, cash equivalents and restricted cash at end of period 27,171 42,072
Reconciliation of total cash, cash equivalents and restricted cash:    
Cash and cash equivalents 26,778 29,310
Restricted cash 393 12,762
Total cash, cash equivalents and restricted cash 27,171 42,072
Supplemental Information:    
Interest paid 2,230 2,042
Interest expense capitalized $ 886