Quarterly report [Sections 13 or 15(d)]

Consolidated Statements of Cash Flows (Unaudited)

v3.25.3
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Operating Activities:    
Net loss $ (8,468) $ (17,272)
Net cash provided by operating activities:    
Depreciation and amortization 18,888 17,860
Gains on derivative instruments (10,179) (9,002)
Gain on sale of assets (830)
Stock-based compensation 2,180 3,650
Amortization of deferred financing fees 759 761
Amortization of debt discount 599 602
Credit loss recovery (4) (23)
Changes in operating assets and liabilities, net of business acquisition:    
Accounts receivable 3,180 6,714
Inventories (3,322) 8,434
Other assets 2,723 4,702
Operating leases (4,883) (4,424)
Accounts payable and accrued liabilities 2,232 (4,903)
Net cash provided by operating activities 3,705 6,269
Investing Activities:    
Additions to property and equipment (2,649) (9,788)
Proceeds from sale of assets 400
Purchase of Kodiak Carbonic, net of cash acquired (7,278)
Deferred purchase price payments for Eagle Alcohol (2,240) (2,800)
Net cash used in investing activities (12,167) (12,188)
Financing Activities:    
Net proceeds from (payments on) Kinergy’s line of credit 6,336 (117)
Preferred stock dividends paid (946) (950)
Net cash provided by (used in) financing activities 5,390 (1,067)
Net change in cash, cash equivalents and restricted cash (3,072) (6,986)
Cash, cash equivalents and restricted cash at beginning of period 36,211 45,480
Cash, cash equivalents and restricted cash at end of period 33,139 38,494
Reconciliation of total cash, cash equivalents and restricted cash:    
Cash and cash equivalents 32,516 33,591
Restricted cash 623 4,903
Total cash, cash equivalents and restricted cash 33,139 38,494
Supplemental Information:    
Interest paid 6,970 6,211
Proceeds from sale of assets – note receivable 1,012
Capitalized interest 2,411
Shares vested for Eagle Alcohol $ 5,000