CADIZ INC
For the period ended Mar 31, 2024. Filed May 14, 2024.
View on SEC.govAbout this filing
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.
Mar 31, 2024 · Filed May 14, 2024
CDZI$3.58+5.3%Stored close · as of Nov 6, 2026
Contents
Unaudited Condensed Consolidated Balance Sheets as of March 31, 2024 and December 31, 2023
Condensed Consolidated Balance Sheets (Unaudited)*
| March 31, | December 31, | |
|---|---|---|
| ($ in thousands, except per share data) | 2024 | 2023 |
| ASSETS | ||
| Current assets: | ||
| Cash and cash equivalents | $19,212 | $4,502 |
| Accounts receivable | 1,581 | 904 |
| Inventories | 2,756 | 2,106 |
| Prepaid expenses and other current assets | 993 | 508 |
| Total current assets | 24,542 | 8,020 |
| Property, plant, equipment and water programs, net | 87,045 | 87,217 |
| Long-term deposit/prepaid expenses | 420 | 420 |
| Goodwill | 5,714 | 5,714 |
| Right-of-use asset | 2,254 | 431 |
| Long-term restricted cash | 134 | 134 |
| Other assets | 5,398 | 5,438 |
| Total assets | $125,507 | $107,374 |
| LIABILITIES AND STOCKHOLDERS’ EQUITY | ||
| Current liabilities: | ||
| Accounts payable | $2,700 | $1,245 |
| Accrued liabilities | 2,108 | 1,170 |
| Current portion of long-term debt | 171 | 182 |
| Dividend payable | 1,265 | 1,288 |
| Contingent consideration liabilities | 1,450 | 1,450 |
| Deferred revenue | 723 | 373 |
| Operating lease liabilities | 157 | 127 |
| Total current liabilities | 8,574 | 5,835 |
| Long-term debt, net | 54,229 | 37,711 |
| Long-term lease obligations with related party, net | 23,452 | 22,877 |
| Long-term operating lease liabilities | 1,974 | 318 |
| Deferred revenue | 625 | 625 |
| Other long-term liabilities | 42 | 41 |
| Total liabilities | 88,896 | 67,407 |
| Commitments and contingencies (Note 10) | ||
| Stockholders’ equity: | ||
| Preferred stock - $.01 par value; 100,000 shares authorized at March 31, 2024 and December 31, 2023; shares issued and outstanding – 329 at March 31, 2024 and December 31, 2023 | 1 | 1 |
| 8.875% Series A cumulative, perpetual preferred stock - $.01 par value; 7,500 shares authorized at March 31, 2024 and December 31, 2023; shares issued and outstanding – 2,300 at March 31, 2024 and December 31, 2023 | 1 | 1 |
| Common stock - $.01 par value; 85,000,000 shares authorized at March 31, 2024 and December 31, 2023; shares issued and outstanding – 67,283,574 at March 31, 2024 and 66,710,795 at December 31, 2023 | 671 | 665 |
| Additional paid-in capital | 683,903 | 679,150 |
| Accumulated deficit | (647,965) | (639,850) |
| Total stockholders’ equity | 36,611 | 39,967 |
| Total liabilities and stockholders’ deficit | $125,507 | $107,374 |
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