TOFUTTI BRANDS INC
For the period ended Dec 30, 2023. Filed Apr 3, 2024.
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FY2023 · Filed Apr 3, 2024
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Statements of Cash Flows
(In thousands)
| Fiscal Year ended December 30, 2023 · Fiscal Year ended December 31, 2022 | |||
|---|---|---|---|
| CASH FLOWS FROM OPERATING ACTIVITIES: | |||
| Net (loss) | $(366) | $(525) | |
| Adjustments to reconcile net income to net cash flows provided by operating activities: | |||
| Stock-based compensation | 60 | 56 | |
| SBA loan forgiveness | - | (165) | |
| Non-cash change in right of use assets and lease liabilities | (7) | (12) | |
| Amortization of finance lease right-of-use asset | 17 | 9 | |
| Provision for bad debts and sales promotions | 30 | 15 | |
| Deferred taxes | 121 | (255) | |
| Change in assets and liabilities: | |||
| Accounts receivable | 447 | 16 | |
| Inventories | (12) | (589) | |
| Prepaid expenses | (13) | 18 | |
| Other assets | - | 2 | |
| Income taxes payable | (41) | (5) | |
| Accounts payable and accrued expenses | (461) | 819 | |
| Net cash flows (used in) operating activities | (225) | (616) | |
| CASH FLOWS PROVIDED BY FINANCING ACTIVITIES: | |||
| Payments of finance lease obligations | (10) | (10) | |
| Net cash flows (used in) provided by financing activities | (10) | (10) | |
| NET CHANGE IN CASH | (235) | (626) | |
| CASH AT BEGINNING OF YEAR | 1,072 | 1,698 | |
| CASH AT END OF YEAR | $837 | $1,072 | |
| SUPPLEMENTAL CASH FLOW INFORMATION: | |||
| Interest paid on finance lease | $3 | $2 | |
| Supplemental schedule of non-cash investing and financing activities: | |||
| Lease assets acquired in exchange for lease liabilities | $ | - | $62 |
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