CV Sciences 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
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Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Cash Flows
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)
(in thousands)
| Nine Months Ended September 30, | ||
|---|---|---|
| 2024 | 2023 | |
| OPERATING ACTIVITIES | ||
| Net income (loss) | $(1,668) | $3,971 |
| Adjustments to reconcile net income (loss) to net cash flows provided by (used in) operating activities: | ||
| Depreciation and amortization | 220 | 176 |
| Stock-based compensation | 154 | 185 |
| Amortization of debt discount | 117 | 112 |
| Amortization of right of use assets | 86 | 80 |
| Gain in fair value of contingent consideration liabilities | (188) | — |
| Benefit from reversal of accrued payroll tax (Note 12) | — | (6,171) |
| Other | 236 | 368 |
| Change in operating assets and liabilities: | ||
| Accounts receivable | 19 | 103 |
| Inventory | 689 | 834 |
| Prepaid expenses and other | 208 | 2,778 |
| Accounts payable and accrued expenses | (570) | (69) |
| Net cash flows provided by (used in) operating activities | (697) | 2,367 |
| INVESTING ACTIVITIES | ||
| Acquisition of business, net of cash acquired | (6) | — |
| Net cash flows used in investing activities | (6) | — |
| FINANCING ACTIVITIES | ||
| Proceeds from note payable | 900 | — |
| Debt issuance costs related to note payable | (5) | — |
| Repayment of note payable | (325) | (1,117) |
| Repayment of unsecured debt | (203) | (218) |
| Net cash flows provided by (used in) financing activities | 367 | (1,335) |
| Effect of exchange rate changes on cash | (2) | — |
| Net increase (decrease) in cash | (338) | 1,032 |
| Cash, beginning of period | 1,317 | 611 |
| Cash, end of period | $979 | $1,643 |
| Supplemental cash flow disclosure: | ||
| Interest paid | $6 | $4 |
| Income taxes paid | $6 | $— |
| Supplemental disclosures of non-cash transactions: | ||
| Services paid with common stock | $92 | $100 |
| Debt issuance cost for note payable | $(284) | $— |
| Working capital adjustment due from seller | $34 | $— |
| Fair value of net assets acquired, excluding cash | $341 | $— |
| Goodwill on acquisition | 365 | — |
| Common stock consideration | (700) | — |
| Contingent consideration | — | — |
| Cash paid for acquisition | $6 | $— |
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