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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 attributable to Agrify Corporation $ (32,465) $ (21,617)
Adjustments to reconcile net loss attributable to Agrify Corporation to net cash used in operating activities:    
Depreciation and amortization 1,310 407
Amortization of premium on investment securities 951
Interest on investment securities (1,035)
Change in fair value of contingent consideration 1,412
Provision for doubtful accounts 1,187 54
Provision for inventory obsolescence 942
Compensation in connection with the issuance of stock options 5,552 1,921
Issuance of common shares in connection with acquisition 176
Non-cash interest (income) expense (42) 447
(Gain) loss on extinguishment of notes payable, net (2,685) 5,618
Gain on forgiveness of PPP loan (45)
Change in fair value of derivative liabilities 2,924
Deferred income taxes 25
(Gain) loss from disposal of fixed assets (5) 120
(Gain) loss attributable to non-controlling interests 140 (22)
Accounts receivable (3,391) (3,709)
Inventory (6,568) (2,941)
Prepaid expenses and other current assets (1,745) 12
Right of use assets, net 29
Accounts payable 1,127 (527)
Accrued expenses and other current liabilities 8,284 4,780
Deferred revenue (3,303) (2,249)
Net cash used in operating activities (30,149) (14,782)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of property and equipment (2,220) (136)
Purchases of intangibles assets (104)
Purchase of securities (62,209)
Proceeds from the sale of securities 17,743
Proceeds from the sale of fixed assets 101
Issuance of loan receivable (22,143)
Cash paid for business combination, net of cash acquired (35,908) (1,092)
Net cash used in investing activities (104,740) (1,228)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from issuance of Preferred A Stock 10,000
Proceeds from IPO, net of fees 56,961
Proceeds from Secondary public offering, net of fees 79,839
Proceeds from exercise of options 2,132
Proceeds from exercise of warrants 8
Payments of financing leases (148)
Minority interest in Valiant 40
Proceeds from PPP Loans 823
Payments of financing leases (88)
Proceeds from notes payable 13,100
Proceeds from issuance of common stock 40
Net cash provided by financing activities 138,792 23,915
Net increase in cash 3,903 7,905
Cash and cash equivalents – Beginning of period 8,111 206
Cash and cash equivalents – End of period 12,014 8,111
Supplemental disclosure of non-cash investing and financing activities:    
Equipment sold for loan receivable to customer 289
Warrants issued and recorded as debt discount in connection with notes payable issuances 2,426
Bifurcated embedded conversion options recorded as derivative liabilities and debt discount $ 2,769