Nauticus Robotics Inc
For the period ended Dec 31, 2023. Filed Apr 10, 2024.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2023 · Filed Apr 10, 2024
KITT$1.33-1.5%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
| For the year ended December 31, | ||
|---|---|---|
| 2023 | 2022 | |
| Cash flows used in operating activities: | ||
| Net loss | $(50,686,601) | $(28,260,571) |
| Adjustments to reconcile net loss to net cash from operating activities: | ||
| Depreciation | 729,412 | 516,949 |
| Accretion of debt discount | 4,033,330 | 1,342,062 |
| Amortization of debt issuance cost | 52,092 | - |
| Accretion of RCB Equities #1, LLC exit fee | 27,608 | - |
| Stock-based compensation | 4,427,073 | 2,602,175 |
| Loss on exchange of warrants | 590,266 | - |
| Change in fair value of warrant liabilities | (14,902,427) | 6,461,087 |
| Non-cash impact of lease accounting | 346,714 | 196,555 |
| Interest expense assumed into Convertible Senior Secured Term Loan | 378,118 | - |
| Impairment of property and equipment | 25,354,791 | - |
| Settlement of liquidated damages with common stock | 3,685,629 | - |
| Loss on disposal of assets | 82,604 | - |
| Loss on lease termination | 453,162 | - |
| Gain on short-term investments | (40,737) | - |
| Changes in operating assets and liabilities: | ||
| Accounts receivable | 1,410,006 | (828,298) |
| Inventories | (11,581,138) | (6,666,912) |
| Contract assets | 573,895 | 319,480 |
| Prepaid expenses and other assets | 2,707,815 | (4,902,797) |
| Accounts payable and accrued liabilities | 8,241,528 | (7,731,279) |
| Contract liabilities | 2,767,913 | - |
| Operating lease liabilities | (338,979) | (323,434) |
| Net cash used in operating activities | (21,687,926) | (37,274,983) |
| Cash flows used in investing activities: | ||
| Capital expenditures | (11,633,153) | (14,247,005) |
| Proceeds from sale of property and equipment | 38,704 | - |
| Proceeds from sale of short-term investments | 5,000,000 | - |
| Purchase of short-term investments | - | (4,959,263) |
| Net cash used in investing activities | (6,594,449) | (19,206,268) |
| Cash flows from financing activities: | ||
| Proceeds from notes payable | 11,096,884 | 2,000,000 |
| Payment of debt issuance costs on notes payable | (607,500) | - |
| Proceeds from exercise of warrants | 338,055 | - |
| Proceeds from exercise of stock options | 421,175 | - |
| Payments of note payable | - | (17,850,333) |
| Proceeds from reverse recapitalization with CleanTech Acquisition Corp, net | - | 14,947,876 |
| Proceeds from issuance of common stock for PIPE Investment | - | 31,000,000 | |||
|---|---|---|---|---|---|
| Proceeds from issuance of debentures and SPA Warrants, net of discount | - | 35,800,000 | |||
| Payment of transaction costs on equity funding | - | (12,582,000) | |||
| Net cash from financing activities | 11,248,614 | 53,315,543 | |||
| Net change in cash and cash equivalents | (17,033,761) | (3,165,708) | |||
| Cash and cash equivalents, beginning of year | 17,787,159 | 20,952,867 | |||
| Cash and cash equivalents, end of year | $753,398 | $17,787,159 | |||
| Supplemental disclosure of cash flow information: | |||||
| Cash paid for interest | $1,006,993 | $2,719,947 | |||
| Cash paid for taxes | $ | - | $ | - | |
| Non-cash investing and financing activities: | |||||
| Capital expenditures included in accounts payable | $849,951 | $241,679 | |||
| Operating leases at inception | $2,016,931 | $ | - | ||
| Transfer from inventories to property and equipment | $15,904,411 | $ | - | ||
| Transfer from property and equipment to assets held for sale | $2,940,524 | $ | - | ||
| Receivable portion of convertible senior secured note payable | $695,000 | $ | - | ||
| Conversion of convertible debt and accrued interest expense to common stock | $ | - | $14,548,914 | ||
| Conversion of Series A preferred stock in connection with reverse recapitalization | $ | - | $3,348 | ||
| Conversion of Series B preferred stock in connection with reverse recapitalization | $ | - | $7,254 | ||
| Private and Public Warrant Liabilities assumed in reverse recapitalization | $ | - | $5,278,145 | ||
| Fair value of SPA warrants at issuance | $ | - | $20,949,110 | ||
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.