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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES    
Net loss $ (9,725) $ (24,999)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:    
Depreciation and amortization 6,103 2,143
Amortization of debt discount 4,386 2,027
Forgiveness of PPP Loan (2,682) 0
Bad debt expense 0 311
Stock based compensation expense 29,219 2,978
Impairment loss on inventory 0 11,738
Impairment loss on property and equipment 0 178
Loss (gain) from change in value of derivatives 8,799 (11)
Gain from extinguishment of debt 0 (188)
Deferred taxes (22,545) 0
Changes in operating assets and liabilities:    
Increase (decrease) in accounts receivable (9,756) (1,236)
(Increase) decrease in inventory (53,226) 24,282
Increase in prepaid expenses and other current assets (1,102) (2,236)
(Increase) decrease in other assets (4,528) 87
Increase in other liabilities 4,748 720
Increase (decrease) in accounts payable and accrued liabilities 3,013 1,349
Increase in floor plan trade note borrowings 15,119 0
Net cash (used in) provided by operating activities (32,177) 17,143
CASH FLOWS FROM INVESTING ACTIVITIES    
Cash used for acquisitions; net of cash received (371,314) 0
Proceeds from sales of property and equipment 0 38
Technology development (1,871) (2,145)
Purchase of property and equipment (5,646) (175)
Net cash used in investing activities (378,831) (2,282)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from convertible note 0 8,272
Proceeds from senior secured debt 261,451 0
Repayments of notes payable (10,413) (1,768)
Increase (decrease) in borrowings from non-trade floor plans 17,187 (40,533)
Proceeds from PPP Loan 0 5,178
Proceeds from sale of common stock 191,241 10,780
Net cash provided by (used in) financing activities 459,466 (18,071)
NET CHANGE IN CASH 48,458 (3,210)
CASH AND RESTRICTED CASH AT BEGINNING OF PERIOD 3,516 6,726
CASH AND RESTRICTED CASH AT END OF PERIOD $ 51,974 $ 3,516