v3.21.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
May 31, 2021
May 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES    
Net loss $ (17,470) $ (70,368)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 2,564 3,259
Amortization of debt discount 3,669 3,902
Bad debt (recovery)/provision (380) 10,421
Bad debt recovery on note receivable (513) 0
Sales return (recovery)/provision (14) 30
Inventory obsolescence 0 2,218
Inventory reserve (recovery)/provision (3,816) 14,619
Loss (gain) on disposal of assets 62 26
Gain on termination of leases 0 (798)
Impairment of assets 0 6,895
Change in fair value of equity investment (1,627) 1,100
Stock compensation expense 6,159 11,074
Change in fair value of warrant liability 295 (3,435)
Loss on extinguishment of debt 1,324 0
Right-of-use assets amortization 953 0
Gain on forgiveness of PPP loan (1,900) 0
Changes in operating assets and liabilities:    
Accounts receivable 2,295 6,854
Inventory (20,505) 5,101
Prepaid expenses and other current assets (5,772) (7,854)
Other non-current assets (4) 498
Accounts payable 4,797 (5,813)
Customer deposits 1,293 1,225
Accrued expenses and other current liabilities 1,073 1,600
Other non-current liabilities (1,613) (752)
Net cash used in operating activities (29,130) (20,198)
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchase of property, equipment, and intangibles (1,192) (4,317)
Net cash used in investing activities (1,192) (4,317)
CASH FLOWS FROM FINANCING ACTIVITIES    
Financing cost paid in connection with extinguishment of debt (195) 0
Repayment of capital leases (33) (86)
Repayment on notes payable (17,000) 0
Proceeds from notes payable 0 1,900
Proceeds from stock option exercises 18 0
Proceeds from issuance of common stock 37,294 42,095
Proceeds from line of credit 93,743 76,325
Repayments on line of credit (92,879) (88,575)
Net cash provided by financing activities 20,948 31,659
NET INCREASE (DECREASE) IN CASH (9,374) 7,144
CASH AT BEGINNING OF PERIOD 10,476 3,944
CASH AT END OF PERIOD 1,102 11,088
CASH PAID FOR:    
Interest 439 624
NON-CASH INVESTING AND FINANCING ACTIVITIES    
Right-of-use assets obtained in exchange for new operating lease liabilities 4,592 0
Services prepaid for in common stock 0 646
Accrued and unpaid amounts for purchase of property & equipment 148 403
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 0
Debt financing cost paid for in common stock $ 83 $ 0

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