Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS

v3.21.2
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
 3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2021
Mar. 31, 2021
Jun. 30, 2020
Mar. 31, 2020
Jun. 30, 2021
Jun. 30, 2020
Dec. 31, 2020
Operating Activities              
Net Income/(Loss) $ (14,078,302) $ (8,221,174) $ (3,411,517) $ 5,438,024 $ (22,299,476) $ 2,026,507  
Adjustments to reconcile net income (loss) to net cash used in operating activities:              
Share-based compensation 154,244 102,000 155,186 25,614 256,244 180,800  
Depreciation and amortization         358,796 181,411  
Accretion of asset retirement obligations         490,000   $ 652,000
Gain on settlement of liabilities           (512,363)  
Change in fair value of derivative liability           (5,476,000)  
Change in fair value of Class B Units 2,242,681       3,093,912   2,021,656
Amortization of discount on fixed payment obligation         1,217,158    
Amortization of debt discount         184,444 745,648  
Changes in operating assets and liabilities:              
Accounts receivable         (4,868)    
Inventories         (36,716)    
Farming activities         (1,378,453) (265,976)  
Prepaid expenses         1,958,331 (2,900,691)  
Deposits and other assets         793 (1,493,725)  
Accounts payable and accrued expenses, interest and compensation         11,492,462 4,026,578  
Asset retirement obligations         (1,545,046)   (135,000)
Environmental liabilities         (241,848)    
Lease liabilities and assets         4    
Net Cash Used in Operating Activities         (6,454,263) (3,487,811)  
Investing Activities              
Cash paid for acquisition of Alon Bakersfield Property, Inc.           (36,500,000)  
Cash received as part of acquisition of Agribody Technologies, Inc.         263,754    
Intangible assets         (42,226)    
Property plant and equipment and advances to contractors         (80,506,634) (24,928,459)  
Net Cash Used in Investing Activities         (80,285,106) (61,428,459)  
Financing Activities              
Proceeds received from exercise of stock options         9,344 90,796  
Payments on notes payable and long-term debt         (1,907,558) (4,746,633)  
New borrowings         999,829    
Cash received from PIPE transaction         3,100,000    
Debt issuance costs         3,100,000 (4,218,211)  
Long-term debt (credit facility)         92,440,641 80,500,000  
Net Cash Provided by Financing Activities         94,642,256 71,625,952  
Net Change in Cash, Cash Equivalents and Restricted Cash         7,902,887 6,709,682  
Cash, Cash Equivalents and Restricted Cash at Beginning of Period   $ 38,982,725   $ 457,331 38,982,725 457,331 457,331
Cash, Cash Equivalents and Restricted Cash at End of Period $ 46,885,612   $ 7,167,013   46,885,612 $ 7,167,013 $ 38,982,725
Supplemental Disclosures of Cash Flow Information              
Cash Paid for Interest         $ 11,516,672