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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash flows from operating activities:    
Net loss $ (7,348) $ (31,691)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization expense 6,293 6,389
Amortization of loan costs 728 1,050
Loss on extinguishment of debt 0 105
Gain on settlement of liability (636) (1,155)
Loss on interest rate cap 55 49
Loss (gain) on sale of real estate 55 (660)
Equity based payment 4,751 5,355
Impairment 157 8,700
Issuance of Preferred Series 2 Stock 0 16,101
Change in fair value of Earn-Out liability (1,143) (4,628)
Changes in operating assets and liabilities    
Due to/from related parties (10) 156
Accounts payable and accrued expenses (1,794) 3,060
Indemnification liability (350) (750)
Other assets (253) (152)
Deferred offering costs 0 (3,022)
Accounts receivable (1,514) (325)
Net cash (used in) operating activities (1,009) (1,418)
Cash flows from investing activities:    
Capital expenditures (463) (1,624)
Capitalized technology 0 (23)
Proceeds on sale of investment in real estate 289 1,475
Net cash (used in) investing activities (174) (172)
Cash flows from financing activities:    
Proceeds from Line of Credit 17,935 0
Payments on notes payable (7,926) (13,291)
Payments on Revolving Credit Facility (5,444) (15,000)
Proceeds from notes payable 5,900 0
Proceeds from reverse recap, net of payment of equity issuance costs 0 39,046
Payment of transaction costs for reverse recapitalization 0 (891)
Payment on interest rate cap 0 (205)
Distributions to non-controlling interest holders (134) (373)
Loan fees (714) 0
Share repurchase plan (90) 0
Shares repurchased for vesting of employee awards (133) 0
Preferred redemption payments (1,292) 0
Preferred dividend payments (9,328) 0
Net cash (used in) provided by financing activities (1,226) 9,286
Net change in cash and cash equivalents and restricted cash (2,409) 7,696
Cash and cash equivalents and restricted cash, beginning of period 16,711 10,974
Cash and cash equivalents and restricted cash, end of period 14,302 18,670
Reconciliation of Cash and Cash Equivalents and Restricted Cash:    
Cash and cash equivalents at beginning of period 11,134 5,758
Restricted cash at beginning of period 5,577 5,216
Cash and cash equivalents and restricted cash, beginning of period 16,711 10,974
Cash and cash equivalents at end of period 8,732 13,736
Restricted cash at end of period 5,568 4,934
Cash and cash equivalents and restricted cash, end of period 14,302 18,670
Supplemental disclosures of cash flow information:    
Interest Paid 8,169 9,215
Non-cash investing and financing activities:    
Distributions declared not yet paid 136 2,190
Accrued preferred distributions paid in common stock 2,452 0
Right of use asset and lease liability 332 0
Note receivable related to disposition of property 3,120 0
Requested preferred redemptions not yet paid 5,467 0
Common stock issued as loan fees $ 1,750 $ 0
Equity shares issued in exchange for accrued compensation (in shares) 1,303 0
Series 2 Preferred Stock dividend paid-in-kind $ 0 $ 4,600
Accrued capital expenditures $ 26 $ 502