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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash flows from operating activities    
Net income (loss) consolidated $ (27,641,000) $ (64,591,000)
Income from discontinued operations, net of tax 53,680,000 14,973,000
Loss from continuing operations (81,321,000) (79,564,000)
  Adjustments to reconcile net loss from continuing operations to cash used in operating activities    
Stock based compensation expense 733,000 574,000
Depreciation and amortization 13,011,000 6,626,000
Deferred income tax benefit (27,676,000) 0
Gain on sale of assets (2,000) (83,000)
Provision for environment clean up 0 1,429,000
Increase in allowance for bad debt 93,400 432,300
(Decrease) increase in fair value of derivative warrant liability (415,000) 4,524,000
Loss on commodity derivative contracts 2,123,000 98,274,000
Net cash settlements on commodity derivatives 1,269,000 (70,951,000)
Amortization of debt discount and deferred costs 70,948,000 40,001,000
Changes in operating assets and liabilities    
Accounts receivable and other receivables (18,589,000) (89,207,000)
Inventory (80,199,000) (65,679,000)
Prepaid expenses and other current assets (16,546,000) (18,613,000)
Accounts payable 20,376,000 44,561,000
Accrued expenses 5,932,000 27,171,000
Other assets (1,090,000) 29,000
Net cash used in operating activities from continuing operations (111,353,000) (100,476,000)
Cash flows from investing activities    
Purchase of intangible assets (2,500,000) (106,000)
Investment in Mobile Refinery assets 0 (227,525,000)
Purchase of fixed assets (105,344,000) (2,150,000)
Proceeds from sale of discontinued operation 92,034,000 0
Proceeds from sale of fixed assets 5,000 157,000
Net cash used in investing activities from continuing operations (15,805,000) (229,624,000)
Cash flows from financing activities    
Payments on finance leases (908,000) (402,000)
Proceeds from exercise of options and warrants to common stock 378,000 633,000
Distributions to noncontrolling interest 0 (380,000)
Contributions received from noncontrolling interest 1,470,000 0
Net change on inventory financing agreements 43,657,000 172,607,000
Redemption of noncontrolling interest 0 (50,666,000)
Proceeds from note payable 13,081,000 165,718,000
Payments on note payable (24,422,000) (7,716,000)
Net cash provided by financing activities from continuing operations 33,256,000 279,794,000
Discontinued operations:    
Net cash provided by (used in) operating activities (150,000) 12,476,000
Net cash used in investing activities 0 (783,000)
Net cash provided by (used in) discontinued operations (150,000) 11,693,000
Net decrease in cash, cash equivalents and restricted cash (94,052,000) (38,613,000)
Cash, cash equivalents, and restricted cash at beginning of the period 146,187,000 136,627,000
Cash, cash equivalents, and restricted cash at end of period 52,135,000 98,014,000
Cash and cash equivalents 48,532,000 97,914,000
Restricted cash 3,603,000 100,000
Cash and cash equivalents and restricted cash as shown in the consolidated statements of cash flows 52,135,000 98,014,000
SUPPLEMENTAL INFORMATION    
Cash paid for interest 24,755,000 51,950,000
Cash paid for taxes 0 0
NON-CASH INVESTING AND FINANCING TRANSACTIONS    
Equity component of the convertible note issuance 0 78,789,000
ROU assets obtained from new finance lease liabilities 23,990,000 45,096,000
Exchange of Convertible Senior Notes to common stock 79,948,000 59,822,000
ROU assets obtained from new operating lease liabilities 38,945,000 0
Accretion of redeemable non-controlling interest to redemption value $ 0 $ 428,000