XML 18 R7.htm IDEA: XBRL DOCUMENT v3.24.2.u1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Aug. 27, 2023
Aug. 28, 2022
Cash flows from operating activities:    
Net loss $ (10,754) $ (10,966)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 2,168 4,354
Stock-based compensation 1,533 785
Deferred taxes 76 (17)
Interest expense PIK, related party 3,025 0
Change in debt derivative liability, related party (200) 0
Provision for expected credit losses 21 0
Gain on sale of divested business 0 (2,108)
Other, net 3 (18)
Changes in current assets and current liabilities:    
Inventories (849) 2,587
Prepaid expenses, other current assets, and other assets (2,426) (739)
Accounts payable (4,202) 581
Accrued compensation 371 (2,865)
Other accrued liabilities (2,530) 183
Net cash used in operating activities (8,329) (1,101)
Cash flows from investing activities:    
Purchases of property and equipment (5,054) (3,361)
Proceeds from the sale of divested business, net of cash acquired 0 3,135
Net cash used in investing activities (5,054) (226)
Cash flows from financing activities:    
Proceeds from exercise of options 724 0
Payments on long-term debt 0 (27)
Proceeds from Revolving Credit Facility, net 2,281 4,000
Taxes paid by Company for employee stock plans (45) (67)
Principal payments on finance leases (26) 0
Net cash provided by financing activities 2,934 3,906
Net (decrease) increase in cash (10,449) 2,579
Cash, beginning of period 19,091 1,643
Cash, end of period 8,642 4,222
Supplemental disclosure of non-cash investing and financing activities:    
Purchases of property and equipment in accounts payable 4,741 2,243
Capitalized interest expense 969 513
Convertible Preferred Stock PIK dividend 748 0
Nonrelated Party    
Changes in current assets and current liabilities:    
Accounts receivable 9,241 7,238
Deferred revenues (451) (116)
Related Party    
Changes in current assets and current liabilities:    
Accounts receivable (6,855) 0
Deferred revenues $ 3,500 $ 0