v3.21.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Feb. 28, 2021
Feb. 29, 2020
CASH FLOWS FROM OPERATING ACTIVITIES    
Net loss $ (9,492) $ (56,881)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 1,695 2,032
Amortization of debt discount 2,703 2,503
Bad debt (recovery)/provision (73) 9,462
Bad debt recovery on note receivable (513) 0
Sales return (recovery)/provision (26) 116
Inventory obsolescence 0 1,157
Inventory reserve (recovery)/provision (2,628) 12,483
Loss (gain) on disposal of assets 62 21
Impairment of assets 0 6,901
Change in fair value of equity investment (2,326) 1,091
Stock compensation expense 4,457 8,089
Change in fair value of warrant liability 1,116 (4,595)
Loss on extinguishment of debt 1,324 0
Right-of-use assets amortization 550 0
Gain on forgiveness of PPP loan (1,900) 0
Changes in operating assets and liabilities:    
Accounts receivable (924) 2,029
Inventory (20,169) 4,863
Prepaid expenses and other current assets (2,509) (5,222)
Other non-current assets (5) 17
Accounts payable 6,185 (6,438)
Customer deposits 912 0
Accrued expenses and other current liabilities 563 3,611
Other non-current liabilities (996) 0
Net cash used in operating activities (21,994) (18,761)
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchase of property, equipment, and intangibles (825) (3,550)
Net cash used in investing activities (825) (3,550)
CASH FLOWS FROM FINANCING ACTIVITIES    
Financing cost paid in connection with extinguishment of debt (111) 0
Repayment of capital leases (25) (62)
Proceeds from stock option exercises 16 0
Proceeds from issuance of common stock 37,294 42,095
Proceeds from line of credit 69,106 49,331
Repayments on line of credit (58,975) (61,619)
Net cash provided by financing activities 47,305 29,745
NET INCREASE (DECREASE) IN CASH 24,486 7,434
CASH AT BEGINNING OF PERIOD 10,476 3,944
CASH AT END OF PERIOD 34,962 11,378
CASH PAID FOR:    
Interest 278 488
NON-CASH INVESTING AND FINANCING ACTIVITIES    
Right-of-use assets obtained in exchange for new operating lease liabilities 4,592
Services prepaid for in common stock 0 296
Accrued and unpaid amounts for purchase of property & equipment 255 276
Stock issued for amendment of debt agreement 6,117 0
Shares issued in exchange for equity investment in XS Financial 0 2,528
Common stock issuance costs in accounts payable 44
Debt financing cost paid for in common stock $ 83

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