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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Cash Flows Used in Operating Activities    
Net loss $ (253,674) $ (7,526)
Adjustments to reconcile net loss to net cash and cash equivalents used in operating activities:    
Stock-based compensation 5,841 396
Interest income on debt securities - related party (91) 0
Change in fair value of financial liabilities (16,429) 478
Non-cash interest expense on notes payable 510 230
Equity method investment gain (loss) 6,756 (5)
Realized gain on conversion of available for sale investments (1,507) 0
Deferred income taxes (1,899) 0
Depreciation and amortization 5,548 0
Goodwill impairment 233,213 0
Payment of patent installment (525) 0
Non-cash rent costs 61 0
Other, net 0 67
Changes in operating assets and liabilities:    
Accounts receivable 46 0
Prepaid expenses and other current assets (122) (136)
Inventory (42) 0
Accounts payable 1,587 1,234
Accrued employee benefits 1,943 1,329
Accrued expenses 565 488
Stock-based compensation liability (442) 0
Income taxes payable 500 0
Other current liabilities (73) (68)
Net Cash Used in Operating Activities (14,696) (7,397)
Cash Flows Used in Investing Activities    
Investment in available-for-sale debt securities - equity method investee (2,337) 0
Advances to equity method investee 0 (2,540)
Acquisition of property, plant and equipment (917) (640)
Net Cash Used in Investing Activities (3,254) (3,180)
Cash Flows Provided by Financing Activities    
Proceeds from issuance of equity, net of issuance costs 3,675 7,116
Proceeds from the issuance of equity to non-controlling interest, net of issuance costs 4,907 3,503
Distributions to Stockholders (26) 0
Repurchase of Preferred Stock (50) 0
Cash Flows Provided by Financing Activities 8,206 10,159
Net Decrease in Cash, Cash Equivalents and Restricted Cash (9,744) (418)
Cash, Cash Equivalents and Restricted Cash Beginning of period 11,119 2,575
Cash, Cash Equivalents and Restricted Cash End of period 1,375 2,157
Supplemental Cash Flow Information    
Cash paid for interest 1,127 55
Supplemental Disclosure of Noncash Financing Information    
Accretion of redeemable units to redemption value 0 4,415
Issuance of units to non-controlling interest in exchange of convertible promissory notes 0 7,324
Conversion of working capital loans to equity method investee into investments in debt securities - related party 4,375 0
Extinguishment of debt with Series C Preferred Stock 14,000 0
Contribution of Series C Preferred Stock to equity method investee 5,783 0
Conversion of AFX available-for-sale term loan into equity method investments 8,757 0
Issuance of stock in exchange for services 4,002 0
Equity reallocation between non-controlling interest and additional paid-in capital 26,304 0
Related party    
Adjustments to reconcile net loss to net cash and cash equivalents used in operating activities:    
Net (gain) loss on investments 0 186
Loss on extinguishment and conversion of debt 3,538 0
Cash Flows Provided by Financing Activities    
Payment of debts 0 0
Nonrelated party    
Adjustments to reconcile net loss to net cash and cash equivalents used in operating activities:    
Net (gain) loss on investments 0 (5,189)
Loss on extinguishment and conversion of debt 0 1,119
Cash Flows Provided by Financing Activities    
Payment of debts $ (300) $ (460)