v3.20.2
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Aug. 31, 2020
Aug. 31, 2019
CASH FLOWS FROM OPERATING ACTIVITIES    
Net loss $ (77,656) $ (39,636)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 4,217 2,501
Amortization of debt discount 5,340 1,243
Provision for bad debt 9,737 2,628
Provision for sales returns (145) 477
Provision for inventory reserve 15,354 3,026
Impairment loss on intangible asset 1,156 0
Gain on disposal of assets 37 (1,254)
Purchase order cancellation charges 4,694 0
Gain on termination of leases (798) 0
Impairment loss on right-of-use and fixed assets 6,895 0
Change in fair value of equity investment 2,018 931
Stock-based compensation 14,008 13,384
Change in fair value of warrant liability (5,079) (9,294)
Gain (Loss) on Extinguishment of Debt 1,651 0
Provision for deferred taxes 47 97
Change in fair value of contingent consideration 0 (1,780)
Right-of-use assets amortization 1,207 0
Changes in operating assets and liabilities:    
Accounts receivable 9,018 (20,475)
Inventory 365 (35,095)
Prepaid expenses and other current assets (1,456) 120
Other non-current assets (423) (535)
Accounts payable (8,803) 7,874
Accrued expenses and other current liabilities 89 4,916
Other non-current liabilities (1,180) 630
Net cash used in operating activities (19,707) (70,242)
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchase of property, equipment, and intangibles (5,048) (8,017)
Net cash used in investing activities (5,048) (8,017)
CASH FLOWS FROM FINANCING ACTIVITIES    
Repayment of finance leases (106) (106)
Proceeds from notes payable, net of debt discount 1,757 16,413
Proceeds from stock option exercises 0 79
Proceeds from issuance of common stock, net of offering costs 42,095 41,008
Proceeds from line of credit 98,928 140,609
Repayments on line of credit (111,387) (129,267)
Net cash provided by financing activities 31,287 68,736
NET INCREASE (DECREASE) IN CASH 6,532 (9,523)
CASH AT BEGINNING OF YEAR 3,944 13,467
CASH AT END OF YEAR 10,476 3,944
CASH PAID FOR:    
Interest 680 1,149
Income taxes 0 13
Amounts included in the measurement of operating lease liabilities 1,740 0
NON-CASH INVESTING AND FINANCING ACTIVITIES    
Capital leases 0 240
Services prepaid for in common stock 846 1,987
Unpaid amounts for purchase of property & equipment 9 211
Fair value of shares issued related to acquisition of business 0 3,568
Shares issued in exchange for equity investment in Xtraction Services 2,528 0
Stock issued for amendment of debt agreement 5,965 0
Fair value of shares received from sale of assets 0 1,791
Warrants issued with financing agreement 0 2,194
Operating lease liability (ASC 842 adoption) 7,600 0
Right of use assets (ASC 842 adoption) $ 6,700 $ 0

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