Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Cash Flows from Operating Activities:      
Net income $ 12,786 $ 5,328 $ 1,322
Adjustments to reconcile net income to net cash provided by (used in) operating activities:      
Depreciation and amortization 12,600 2,436 1,045
Provision for doubtful accounts and notes receivable 619 214 172
Amortization of debt discount 0 0 356
Stock based compensation 6,585 7,856 2,491
Deferred income taxes 1,609 750 0
Loss on disposal of fixed assets 198 0 0
Other 0 (127) (67)
(Increase) decrease in:      
Accounts and notes receivable (1,087) (3,471) (3,765)
Inventory (34,690) (19,188) (9,496)
Prepaid expenses and other assets (9,937) (9,236) (2,062)
Increase (decrease) in:      
Accounts payable and accrued liabilities 3,285 9,989 4,165
Operating leases 1,282 375 15
Customer deposits 6,362 2,651 1,988
Payroll and payroll tax liabilities 4,785 1,583 154
Sales taxes payable 762 627 342
Net Cash and Cash Equivalents Provided By (Used In) Operating Activities 5,159 (213) (3,340)
Cash Flows from Investing Activities:      
Assets acquired in business combinations (80,784) (41,402) (9,459)
Purchase of property and equipment (18,740) (3,401) (2,233)
Purchase of marketable securities (75,000) 0 0
Maturities of marketable securities 35,207 0 0
Purchase of intangibles 0 (1,027) (119)
Net Cash and Cash Equivalents (Used In) Investing Activities (139,317) (45,830) (11,811)
Cash Flows from Financing Activities:      
Principal payments on long term debt (83) (111) (460)
Payments to tax authorities for stock-based compensation (4,391) (119) 0
Proceeds from the sales of common stock and exercise of warrants and options, net of expenses 2,092 211,206 13,950
Net Cash and Cash Equivalents (Used In) Provided by Financing Activities (2,382) 210,976 13,490
Net Increase (decrease) in Cash and Cash Equivalents (136,540) 164,933 (1,661)
Cash and Cash Equivalents at Beginning of year 177,912 12,979 14,640
Cash and Cash Equivalents at End of year 41,372 177,912 12,979
Supplemental Information:      
Common stock and warrants issued for prepaid services 0 0 96
Common stock issued for intangible assets 168 0 0
Common stock issued for accrued payroll liability 0 718 210
Debt converted to equity 0 0 2,311
Assets acquired by issuance of stock 37,272 39,282 3,625
Cash paid for interest 43 14 45
Right to use assets acquired under new operating leases 32,875 7,887 6,210
Cash paid for income taxes $ 6,072 $ 3,156 $ 0