v3.19.3
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Aug. 31, 2019
Aug. 31, 2018
CASH FLOWS FROM OPERATING ACTIVITIES    
Net loss $ (39,636) $ (24,337)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 2,501 1,223
Amortization of debt discount 1,243  
Provision for bad debt 2,628 966
Provision for sales returns 477 0
Provision for inventory reserve 3,026 585
Gain on disposal of assets (1,254)  
Change in fair value of equity investment 931  
Stock-based compensation 13,384 3,586
Change in fair value of warrant liability (9,294) (920)
Offering costs allocated to warrant liability   1,230
Provision for deferred taxes 97 (1,617)
Change in fair value of contingent consideration (1,780) 14,138
Changes in operating assets and liabilities:    
Accounts receivable (20,475) (7,620)
Inventory (35,095) (8,408)
Prepaid expenses and other current assets 120 (10,637)
Other non-current assets (535)  
Accounts payable 7,874 615
Accrued expenses and other current liabilities 4,916 1,109
Other non-current liabilities 630 150
Net cash used in operating activities (70,242) (29,937)
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchase of property, equipment, and intangibles (8,017) (2,841)
Security deposits   (196)
Acquisition of Summit, net of cash received   (905)
Acquisition of Hybrid, net of cash received   (847)
Net cash used in investing activities (8,017) (4,789)
CASH FLOWS FROM FINANCING ACTIVITIES    
Repayment of capital leases (106)  
Proceeds from (repayment of) notes payable 19,015 (1,888)
Proceeds from stock option exercises 79 612
Proceeds from issuance of common stock 41,008 49,419
Proceeds from line of credit 140,609 918
Repayments on Lines of Credit (129,267)  
Debt issuance costs (2,602)  
Payments for contingent consideration   (1,785)
Net cash provided by financing activities 68,736 47,276
NET INCREASE (DECREASE) IN CASH (9,523) 12,550
CASH AT BEGINNING OF YEAR 13,467 917
CASH AT END OF YEAR 3,944 13,467
CASH PAID FOR:    
Interest 1,149 74
Income taxes 13 330
NON-CASH INVESTING AND FINANCING ACTIVITIES    
Capital leases 240 177
Services prepaid for in common stock 1,987 1,273
Unpaid amounts for purchase of property & equipment 211  
Fair value of shares issued related to acquisition of business 3,568 8,273
Fair value of contingent equity consideration   $ 4,114
Fair value of shares received from sale of assets 1,791  
Warrants issued with financing agreement $ 2,194  

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