NextPlat Corp
For the period ended Mar 31, 2024. Filed May 15, 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.
Mar 31, 2024 · Filed May 15, 2024
Extracted filing text, with the paragraph anchors used by the comparison.
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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
FOR THE THREE MONTHS ENDED
(In thousands)
| March 31, 2024 · March 31, 2023 | |||
|---|---|---|---|
| (Unaudited) · (Unaudited) | |||
| CASH FLOWS FROM OPERATING ACTIVITIES: | |||
| Net loss | $(1,701) | $(1,187) | |
| Adjustments to reconcile net loss to net cash used in operating activities: | |||
| Depreciation expense | 203 | 155 | |
| Change in provision for doubtful accounts | 2 | - | |
| Amortization of intangible assets | 698 | 6 | |
| Amortization of right-of-use assets - operating leases | 129 | 49 | |
| Amortization of right-of-use assets - finance leases | 5 | - | |
| Equity in net loss of affiliate | - | 32 | |
| Stock-based compensation | 612 | 243 | |
| Impairment loss | 132 | - | |
| Gain on sale or disposal of property and equipment | (1) | - | |
| Change in operating assets and liabilities: | |||
| Accounts receivable | (4,230) | (572) | |
| Inventory | (475) | (877) | |
| Unbilled revenue | 4 | 142 | |
| Prepaid expense | 236 | (32) | |
| Notes receivable | (4) | - | |
| VAT receivable | (15) | (76) | |
| Accounts payable and accrued expenses | 1,745 | 94 | |
| Operating lease liabilities | (74) | (43) | |
| Income taxes payable | (49) | 2 | |
| Contract liabilities | 98 | (3) | |
| Net cash used in operating activities | (2,685) | (2,067) | |
| CASH FLOWS FROM INVESTING ACTIVITIES: | |||
| Purchase of property and equipment | (64) | (69) | |
| Proceeds from sale or disposal of property and equipment | 1 | - | |
| Net cash used in investing activities | (63) | (69) | |
| CASH FLOWS FROM FINANCING ACTIVITIES: | |||
| Repayments of note payable, related party, net | 23 | (2) | |
| Capital contribution | 122 | - | |
| Payments on finance lease liabilities | (5) | - | |
| Repayments of notes payable | (141) | (11) | |
| Net cash used in financing activities | (1) | (13) | |
| Effect of exchange rate on cash | (32) | (23) | |
| Net decrease in cash | (2,781) | (2,172) | |
| Cash beginning of period | 26,307 | 18,891 | |
| Cash end of period | $23,526 | $16,719 | |
| SUPPLEMENTAL CASH FLOW INFORMATION | |||
| Cash paid during the period for | |||
| Interest | $170 | $4 | |
| Income tax | $74 | $ | - |
See the accompanying notes to condensed consolidated financial statements.
Unless the context requires otherwise, references to the “Company”, “we”, “us”, “our”, “our Company”, or “our business” refer to Nextplat Corp and its subsidiaries.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.