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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash Flows From Operating Activities    
Net income $ 3,284,000 $ 60,128,000
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Stock based compensation 1,639,000 1,252,000
Bad debt expense 9,000 76,000
Depreciation of property and equipment 5,195,000 4,521,000
Amortization of intangible assets 3,667,000 3,615,000
Amortization of debt discount 655,000 186,000
Non-cash lease expense 93,000 138,000
Loss on sale of property and equipment 0 2,000
Deferred income taxes (147,000) 0
Change in fair value of warrant liabilities (856,000) (11,192,000)
Tax benefit related to stock-based awards 0 79,000
Impairment charges 538,000 0
Changes in operating assets and liabilities (net of acquisitions):    
Receivables (3,424,000) (3,665,000)
Inventories (4,346,000) (79,231,000)
Prepaid expenses and other (2,712,000) (1,144,000)
Income tax receivable/payable 1,239,000 (3,560,000)
Other assets (390,000) (423,000)
Accounts payable 3,744,000 (4,494,000)
Accrued expenses and other current liabilities 2,517,000 1,967,000
Total Adjustments 7,421,000 (91,873,000)
Net Cash Provided By (Used In) Operating Activities 10,705,000 (31,745,000)
Cash Flows From Investing Activities    
Cash paid for acquisitions (19,730,000) 0
Proceeds from sales of property and equipment 0 18,000
Purchases of property and equipment (46,312,000) (12,730,000)
Net Cash Used In Investing Activities (66,042,000) (12,712,000)
Cash Flows From Financing Activities    
Net (repayments) borrowings under M&T bank floor plan (44,293,000) 89,487,000
Borrowings under revolving line of credit 45,000,000 0
Repayment of long term debt with M&T bank (12,245,000) (2,806,000)
Proceeds from financing liability 1,384,000 4,242,000
Repayments of financing liability (1,041,000) (958,000)
Payment of dividends on Series A preferred stock (2,393,000) (2,394,000)
Repurchase of Treasury Stock (109,000) (38,166,000)
Proceeds from shares issued pursuant to the Employee Stock Purchase Plan 265,000 602,000
Proceeds from exercise of warrants 30,543,000 513,000
Proceeds from exercise of stock options 911,000 1,706,000
Disgorgement of short-swing profits 622,000 0
Repayments of acquisition notes payable 0 (530,000)
Loan issuance costs (821,000) 0
Net Cash Provided By Financing Activities 17,823,000 51,696,000
Net (Decrease) Increase In Cash (37,514,000) 7,239,000
Cash - Beginning 61,687,000 98,120,000
Cash - Ending 24,173,000 105,359,000
Supplemental Disclosures of Cash Flow Information:    
Cash paid during the period for interest 2,672,000 3,114,000
Cash paid during the period for income taxes net of refunds received 4,000 19,910,000
Non-Cash Investing and Financing Activities    
Accrued dividends on Series A preferred stock 1,197,000 1,197,000
Decrease in PIPE warrant liability due to expiration of warrants $ 50,000 $ 0