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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 12 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Dec. 31, 2023
OPERATING ACTIVITIES:      
Net loss $ (5,162) $ (25,800)  
Adjustments to reconcile net loss to net cash used by operating activities:      
Depreciation and amortization 428 1,762  
Provision for sales returns 64 (223)  
Amortization of deferred financing cost and debt discounts 83 106  
Stock-based compensation 1,667 2,317  
Change in deferred tax balance (5) 0  
Change in inventory provisions (976) (1,023)  
Loss (gain) in connection with the change in warrant fair value (517) 354  
Impairment of Intangible Assets, Finite-Lived 0 [1] 16,660 $ 39,728 [1]
Changes in assets and liabilities:      
Accounts receivable 1,843 1,028  
Inventory 2,846 4,312  
Prepaid and other assets 249 751  
Accounts payable, accrued and other liabilities (526) (7,661)  
Cash used in operating activities (6) (7,417)  
INVESTING ACTIVITIES:      
Purchase of intangibles and fixed assets (36) (33)  
Purchase of Step and Go assets   (125)  
Purchase of minority equity investment (200) 0  
Cash used in investing activities (236) (158)  
FINANCING ACTIVITIES:      
Repayments on note payable to Smash (153) (398)  
Borrowings from MidCap credit facilities 11,453 20,549  
Repayments for MidCap credit facilities (13,244) (22,602)  
Insurance obligation payments (254) (534)  
Cash provided (used) by financing activities (2,198) (2,985)  
Foreign currency effect on cash, cash equivalents, and restricted cash (49) 129  
Net change in cash and restricted cash for the year (2,489) (10,431)  
Cash and restricted cash at beginning of year 22,195 46,629 46,629
Cash and restricted cash at end of year 19,706 36,198 22,195
RECONCILIATION OF CASH AND RESTRICTED CASH:      
Cash 17,545 33,911  
Restricted Cash—Prepaid and other current assets 2,032 2,158  
Restricted cash—Other non-current assets 129 129  
TOTAL CASH AND RESTRICTED CASH 19,706 36,198 $ 22,195
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION      
Cash paid for interest 402 538  
Cash paid for taxes 3 0  
NON-CASH INVESTING AND FINANCING ACTIVITIES:      
Non-cash consideration paid to contractors 620 321  
Non-cash minority equity investment $ 50 $ 0  
[1] On March 20, 2023, the Company made certain leadership changes in our essential oil business resulting in a change in strategy and outlook for the business which will result in a reduced portfolio offering. This reduction in the portfolio will be impactful to our essential oil business's future revenues and profitability and as a result the Company made revisions to our internal forecasts. The Company concluded that this change was an interim triggering event for the three months ending March 31, 2023 indicating the carrying value of our essential oil business's long-lived assets including trademarks may not be recoverable. Accordingly, the Company performed an interim impairment test of the trademark and assessed the recoverability of the related intangible assets by using level 3 inputs and comparing the carrying value of an asset group to the net undiscounted cash flow expected to be generated. The recoverability test indicated that certain definite-live trademark intangible assets were impaired. The Company concluded the carrying value of the trademark exceeded its estimated fair value which was determined utilizing the relief-from-royalty method to determine discounted projected future cash flows which resulted in an impairment charge. The Company recorded an intangible impairment charge of $16.7 million in the three months ending March 31, 2023 within impairment loss on intangibles on the condensed consolidated statement of operations.