Laird Superfood Inc
For the period ended Dec 31, 2023. Filed Mar 13, 2024.
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FY2023 · Filed Mar 13, 2024
LSF$2.43-1.6%Stored close · as of Nov 10, 2026
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Item 8. Consolidated Statements of Cash Flows
| Year Ended December 31, | ||
|---|---|---|
| 2023 | 2022 | |
| Cash flows from operating activities | ||
| Net loss | $(10,163,117) | $(40,337,318) |
| Adjustments to reconcile net loss to net cash from operating activities: | ||
| Depreciation and amortization | 306,176 | 1,118,071 |
| Gain on sale of assets held-for-sale | — | (577,058) |
| Stock-based compensation | 1,092,146 | 631,227 |
| Provision for inventory obsolescence | 1,273,171 | 2,761,476 |
| Allowance for credit losses | 165,980 | 77,436 |
| Impairment of goodwill and other long-lived assets | — | 12,814,441 |
| Loss on lease termination | — | 3,596,365 |
| Noncash lease costs | 152,339 | 1,065,591 |
| Other operating activities, net | 38,098 | 169,914 |
| Changes in operating assets and liabilities: | ||
| Accounts receivable | 306,117 | (303,187) |
| Inventory | (1,899,165) | 1,763,302 |
| Prepaid expenses and other current assets | 1,244,511 | 1,604,880 |
| Operating lease liability | (126,434) | (742,111) |
| Accounts payable | 570,094 | 191,499 |
| Accrued expenses | (3,725,797) | 1,853,033 |
| Net cash from operating activities | (10,765,881) | (14,312,439) |
| Cash flows from investing activities | ||
| Purchase of property, plant, and equipment | (144,023) | (1,154,219) |
| Proceeds on sale of property, plant, and equipment | 34,330 | 17,677 |
| Proceeds from sale of assets held-for-sale | 800,000 | 1,596,212 |
| Proceeds from sale of investment securities available-for-sale | — | 8,513,783 |
| Purchase of intangible assets | — | (2,713) |
| Net cash from investing activities | 690,307 | 8,970,740 |
| Cash flows from financing activities | ||
| Common stock issuances, net of taxes | (27,422) | 9,464 |
| Recovery of short-swing profits | — | 28,555 |
| Stock options exercised, net of taxes | — | 64,248 |
| Net cash from financing activities | (27,422) | 102,267 |
| Net change in cash and cash equivalents | (10,102,996) | (5,239,432) |
| Cash, cash equivalents, and restricted cash, beginning of period | 17,809,802 | 23,049,234 |
| Cash, cash equivalents, and restricted cash, end of period | $7,706,806 | $17,809,802 |
| Supplemental disclosures of cash flow information | ||
| Cash paid for interest | $13,994 | $8,338 |
| Cash paid for income taxes | $17,625 | $5,404 |
| Right-of-use assets obtained in exchange for operating lease liabilities | $344,382 | $5,285,330 |
| Supplemental disclosures of non-cash investing activities | ||
| Receivable from sale of assets held-for-sale included in accrued expenses at the end of the period | $— | $28,240 |
| Amounts reclassified from accumulated other comprehensive loss | $— | $61,016 |
| Amounts reclassified from property, plant, and equipment to fixed assets held-for-sale | $— | $1,847,394 |
| Amounts reclassified from property, plant, and equipment to intangible assets | $— | $153,691 |
| Purchases of equipment included in deposits at the beginning of the period | $— | $372,507 |
LAIRD SUPERFOOD, INC
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