Flora Growth Corp
For the period ended Dec 31, 2023. Filed Mar 28, 2024.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2023 · Filed Mar 28, 2024
ZSTK$2.53-5.9%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
(in thousands of United States dollars)
| For the year endedDecember 31, 2023 · For the year endedDecember 31, 2022 | |||
|---|---|---|---|
| Cash flows from operating activities: | |||
| Net loss | $(56,347) | $(52,629) | |
| Adjustments to net loss: | |||
| Depreciation and amortization | 2,484 | 2,629 | |
| Stock-based compensation | 1,591 | 3,404 | |
| Goodwill impairment | 23,372 | 25,452 | |
| Other asset impairments | 20,840 | 783 | |
| Changes in fair value of investments and liabilities | (1,991) | 593 | |
| Bad debt expense | 801 | 1,607 | |
| Loss on disposal of discontinued operations | 3,132 | - | |
| Interest expense (income) | 94 | (56) | |
| Interest paid | (94) | (4) | |
| Income tax benefit | (1,617) | (1,538) | |
| (7,735) | (19,759) | ||
| Net change in non-cash working capital: | |||
| Trade and other receivables | 1,522 | 143 | |
| Inventory | 576 | 1,219 | |
| Prepaid expenses and other assets | (419) | 1,372 | |
| Trade payables and accrued liabilities | (2,340) | 1,090 | |
| Net cash used in operating activities | (8,396) | (15,935) | |
| Cash flows from financing activities: | |||
| Units issued | 2,738 | 5,000 | |
| Equity issue costs | (396) | (520) | |
| Exercise of warrants and options | - | 187 | |
| Common shares repurchased | - | (255) | |
| Loan borrowings | 995 | 197 | |
| Loan repayments | (187) | (196) | |
| Net cash provided by financing activities | 3,150 | 4,413 | |
| Cash flows from investing activities: | |||
| Purchases of property, plant and equipment and intangible assets | (163) | (1,294) | |
| Net cash on disposal | (71) | - | |
| Business and asset acquisitions, net of cash acquired | - | (14,508) | |
| Net cash used in investing activities | (234) | (15,802) | |
| Effect of exchange rate on changes on cash | 930 | (755) | |
| Change in cash during the period | (4,550) | (28,079) | |
| Cash and restricted cash at beginning of period | 8,935 | 37,616 | |
| Cash included in assets held for sale | - | (602) | |
| Cash and restricted cash at end of period | $4,385 | $8,935 | |
| Supplemental disclosure of non-cash investing and financing activities | |||
| Common shares issued for business combinations | $ | - | $24,712 |
| Common shares issued for other agreements | 95 | 1,470 | |
| Option cancellations reclassified to equity | 5,352 | 451 | |
| Operating lease additions to right of use assets | 245 | 2,919 | |
| Intangible assets acquired for contingent consideration | 194 | - | |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.