Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows (unaudited)

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Consolidated Statements of Cash Flows (unaudited) - USD ($)
 3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Operating Activities:    
Consolidated net income (loss) $ 4,678,000 $ (27,156,000)
Adjustments to reconcile consolidated net income (loss) to net cash provided by (used in) operating activities:    
Depreciation 5,860,000 9,759,000
Asset impairment 1,200,000
Gains (losses) on derivative instruments (10,543,000)  
Non-cash compensation 804,000 865,000
Amortization of deferred financing fees 190,000 305,000
Fair value adjustments   (673,000)
Inventory valuation   4,223,000
Interest added to debt   133,000
Bad debt expense 91,000 19,000
Changes in operating assets and liabilities:    
Accounts receivable (13,057,000) 22,024,000
Inventories (17,291,000) 10,845,000
Prepaid expenses and other assets 3,832,000 (396,000)
Prepaid inventory (129,000) (181,000)
Operating leases (1,037,000) (2,348,000)
Assets held-for-sale 1,241,000 1,624,000
Liabilities held-for-sale (312,000) 9,370,000
Accounts payable and accrued liabilities 20,391,000 (1,512,000)
Net cash provided by (used in) operating activities (4,082,000) 26,901,000
Investing Activities:    
Additions to property and equipment (4,411,000) (1,245,000)
Net cash used in investing activities (4,411,000) (1,245,000)
Financing Activities:    
Net proceeds (payments) from Kinergy’s line of credit 13,042,000 (18,156,000)
Proceeds from stock option exercises 462,000  
Proceeds from issuance of common stock   282,000
Principal payments on borrowings (8,532,000)  
Net cash provided by (used in) financing activities 4,972,000 (17,874,000)
Net increase (decrease) in cash and cash equivalents (3,521,000) 7,782,000
Cash and cash equivalents at beginning of period 47,667,000 [1] 18,997,000
Cash and cash equivalents at end of period 44,146,000 26,779,000
Supplemental Information:    
Interest paid 1,825,000 1,968,000
Accrued preferred stock dividends $ 312,000 $ 315,000
[1] Amounts derived from the audited financial statements for the year ended December 31, 2020.