Mobile Infrastructure Corp
For the period ended Dec 31, 2023. Filed Mar 22, 2024.
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FY2023 · Filed Mar 22, 2024
BEEP$2.370.0%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
CONSOLIDATED STATEMENTS OF CASH FLOWS
(In thousands)
| 2023 | 2022 | |
|---|---|---|
| Cash flows from operating activities: | ||
| Net Loss | $(38,238) | $(18,326) |
| Adjustments to reconcile net loss to net cash (used in) provided by operating activities: | ||
| Depreciation and amortization expense | 8,512 | 8,248 |
| Amortization of loan costs | 1,236 | 1,733 |
| Loss on extinguishment of debt | 105 | — |
| Gain on settlement of indemnification liability | (1,155) | — |
| PPP loan forgiveness | — | (328) |
| Loss on interest rate cap | 151 | — |
| (Gain)/Loss on sale of real estate | (660) | 52 |
| Equity based payment | 7,484 | 2,510 |
| Impairment | 8,982 | — |
| Issuance of Preferred Series 2 Stock | 16,101 | — |
| Change in fair value of Earn-out liability | (4,065) | — |
| Changes in operating assets and liabilities | ||
| Due to and from related parties | 156 | 470 |
| Accounts payable and accrued expenses | 2,687 | 7,100 |
| Deferred offering costs | (3,022) | (2,086) |
| Other assets, net | (101) | (267) |
| Deferred revenue | 122 | 221 |
| Accounts receivable | (420) | 2,182 |
| Net cash provided by (used in) operating activities | (2,125) | 1,509 |
| Cash flows from investing activities: | ||
| Capital expenditures | (1,821) | (2,408) |
| Capitalized technology | — | (171) |
| Purchase of investment in real estate | — | (17,513) |
| Proceeds from sale of investment in real estate | 1,475 | 650 |
| Net cash (used in) investing activities | (346) | (19,442) |
| Cash flows from financing activities | ||
| Proceeds from line of credit | — | 73,700 |
| Payments on notes payable | (14,085) | (58,755) |
| Payments on line of credit | (15,000) | — |
| Proceeds from reverse recap, net of payment of equity issuance costs | 38,866 | — |
| Payment of transaction costs for reverse recapitalization | (905) | — |
| Payment on interest rate cap | (205) | — |
| Distributions to non-controlling interest holders | (463) | — |
| Loan fees | — | (2,734) |
| Net cash provided by financing activities | 8,208 | 12,211 |
| Net change in cash, cash equivalents and restricted cash | 5,737 | (5,722) |
| Cash, cash equivalents and restricted cash, beginning of period | 10,974 | 16,696 |
| Cash, cash equivalents and restricted cash, end of period | $16,711 | $10,974 |
| Reconciliation of Cash, Cash Equivalents and Restricted Cash: | ||
| Cash, cash equivalents at beginning of period | 5,758 | 11,805 |
| Restricted cash at beginning of period | 5,216 | 4,891 |
| Cash, cash equivalents and restricted at beginning of period | $10,974 | $16,696 |
| Cash and cash equivalents at end of period | 11,134 | 5,758 |
| Restricted cash at end of period | 5,577 | 5,216 |
| Cash, cash equivalents and restricted at end of period | $16,711 | $10,974 |
| Supplemental disclosures of cash flow information: | ||
| Interest Paid | $12,740 | $10,613 |
| Non-cash investing and financing activities: | ||
| Dividends declared not yet paid | $2,752 | $3,000 |
| Distributions paid in common stock | $791 | $— |
| Distributions paid-in-kind - Series 2 | $4,600 | $— |
| Accrued capital expenditures | $647 | $1,371 |
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