Pineapple Energy Inc
For the period ended Sep 30, 2024. Filed Nov 14, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Nov 14, 2024
SUNE$2.13+4.9%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Cash Flows
| PINEAPPLE ENERGY INC. | ||
|---|---|---|
| CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS | ||
| (Unaudited) | ||
| Nine Months Ended September 30 | ||
| 2024 | 2023 | |
| CASH FLOWS FROM OPERATING ACTIVITIES: | ||
| Net loss | $(9,029,973) | $(6,468,769) |
| Net loss from discontinued operations, net of tax | — | (1,206,235) |
| Net loss from continuing operations | (9,029,973) | (5,262,534) |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Depreciation and amortization | 2,373,312 | 4,002,939 |
| Share based compensation | (16,199) | 966,825 |
| Fair value remeasurement of earnout consideration | (800,000) | 1,160,000 |
| Fair value remeasurement of warrant liability | 974,823 | — |
| Fair value remeasurement of embedded derivative liability | 468,329 | — |
| Fair value remeasurement of contingent value rights | (478,809) | (1,152,273) |
| Loss on extinguishment of debt | 35,657 | — |
| Loss (gain) on sale of assets | 822 | (437,116) |
| Loss on lease termination | 215,415 | — |
| Interest and accretion expense | 2,312,054 | 1,867,576 |
| Changes in assets and liabilities: | ||
| Trade accounts receivable | 803,047 | (112,868) |
| Inventories | 893,281 | 1,427,729 |
| Income taxes | (83,062) | (29,081) |
| Other assets, net | (809,709) | 2,198,423 |
| Accounts payable | 570,844 | (510,422) |
| Accrued compensation and benefits | (510,484) | 84,421 |
| Customer deposits | (270,905) | (921,228) |
| Other accrued liabilities | 236,089 | (3,095,746) |
| Accrued interest | (1,278,378) | (716,188) |
| Net cash used in operating activities | (4,393,846) | (529,543) |
| Net cash used in operating activities - discontinued operations | — | (295,571) |
| Net cash used in operating activities | (4,393,846) | (825,114) |
| CASH FLOWS FROM INVESTING ACTIVITIES: | ||
| Capital expenditures | (29,749) | (614,435) |
| Proceeds from the sale of property, plant and equipment | 6,118 | 450 |
| Proceeds from the sale of investments | — | 2,869,584 |
| Proceeds from earnout consideration on sale of assets | — | 250,000 |
| Net cash (used in) provided by investing activities | (23,631) | 2,505,599 |
| Net cash provided by investing activities - discontinued operations | — | 1,102,935 |
| Net cash (used in) provided by investing activities | (23,631) | 3,608,534 |
| CASH FLOWS FROM FINANCING ACTIVITIES: | ||
| Proceeds from loans payable | 1,604,000 | 7,814,844 |
| Payments against loans payable | (1,161,654) | (6,970,811) |
| Payments related to debt issuance costs | (24,150) | (348,065) |
| Payments related to equity issuance costs | (237,536) | — |
| Proceeds from the issuance of common stock under registered direct offering | 1,000,000 | — |
| Proceeds from the issuance of Series B preferred stock | 15 | — |
| Payments for contingent value rights distributions | — | (3,036,676) |
| Proceeds from issuance of common stock, net of shares withheld | 9,775 | 125,398 |
| Cash in lieu payment on fractional shares under reverse stock split | (1,132) | — |
| Purchase of common stock | (6,098) | (31,186) |
| Net cash provided by (used in) financing activities | 1,183,220 | (2,446,496) |
| NET (DECREASE) INCREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH | (3,234,257) | 336,924 |
|---|---|---|
| CASH, CASH EQUIVALENTS AND RESTRICTED CASH AT BEGINNING OF PERIOD | 5,396,343 | 5,256,478 |
| CASH, CASH EQUIVALENTS AND RESTRICTED CASH AT END OF PERIOD | $2,162,086 | $5,593,402 |
| SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION: | ||
| Income taxes paid | $83,100 | $28,672 |
| Interest paid | 1,216,577 | 688,954 |
| NONCASH FINANCING AND INVESTING ACTIVITIES: | ||
| Gain on extinguishment of related party debt | — | 36,291 |
| Loss on extinguishment of debt | (35,657) | — |
| Deemed dividend on Convertible Preferred Stock and PIPE Warrants | 11,587,121 | — |
| Conversion of redeemable convertible preferred stock to common stock | 15,277,055 | — |
| Operating right of use assets obtained in exchange for lease obligations | — | 753,972 |
| The accompanying notes are an integral part of the condensed consolidated financial statements. | ||
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.