Investors

Financials

v3.21.1
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2021
Dec. 31, 2020
Current Assets:    
Cash $ 1,243 $ 888
Accounts receivable, net 1,300 835
Short Term investments 40,256 34,045
Inventory 2,354 1,602
Prepaid expenses and other assets 628 234
Current assets of discontinued operations 1 2
Total current assets 45,782 37,606
Property, equipment and leasehold improvements, net 31,641 32,480
Intangible assets, net 7,522 7,714
Goodwill 6,171 6,171
Other assets 12,844 13,040
Investments 330 330
Assets of discontinued operations 2,927 2,953
TOTAL ASSETS 107,217 100,294
Current liabilities:    
Accounts payable and accrued expenses 9,869 8,621
Short-term debt 12,746 8,033
Current liabilities of discontinued operations 9,782 9,768
Total current liabilities 32,397 26,422
Long-term liabilities:    
Long-term debt, net of discounts 3,532 6,632
Long-term lease liabilities 7,592 8,082
Long-term liabilities of discontinued operations 0 28
Total long-term liabilities 11,124 14,742
Total liabilities 43,521 41,164
STOCKHOLDERS' EQUITY:    
Common stock, par value 0.001: 990,000,000 shares authorized as of March 31, 2021 and December 31, 2020; 235,491,198 shares issued and 233,182,790 shares outstanding as of March 31, 2021; 196,512,867 shares issued and 194,204,459 shares outstanding as of December 31, 2020. 256 218
Additional paid-in capital 290,225 275,060
Treasury Stock (2,308,408 shares of common stock, 12 shares of Preferred Stock Convertible Series A) (808) (808)
Accumulated deficit (230,822) (219,803)
Total Terra Tech Corp. stockholders' equity 58,851 54,667
Non-controlling interest 4,845 4,463
Total stockholders' equity 63,696 59,130
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY 107,217 100,294
Preferred Stock Convertible Series A [Member]    
STOCKHOLDERS' EQUITY:    
Preferred Stock Value 0 0
Preferred Stock Convertible Series B [Member]    
STOCKHOLDERS' EQUITY:    
Preferred Stock Value $ 0 $ 0

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v3.21.1
CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)    
Total revenues $ 5,112 $ 4,047
Cost of goods sold 2,680 1,723
Gross profit 2,432 2,324
Selling, general and administrative expenses 14,138 8,541
Impairment of assets 0 5,120
(Gain) / Loss on sale of assets 0 (35)
Loss from operations (11,706) (11,302)
Other income (expense):    
Loss on Extinguishment of Debt (6,161) 0
Interest expense, net (400) (902)
Other income/loss 345 65
Unrealized Gain (Loss) on Investments 6,212 0
Total other income (expense) (4) (837)
Income (Loss) from continuing operations (11,710) (12,139)
Income (Loss) from discontinued operations, net of tax 14 (5,235)
NET INCOME (LOSS) (11,696) (17,374)
Less: Income (Loss) attributable to non-controlling interest from continuing operations 382 (44)
NET LOSS ATTRIBUTABLE TO TERRA TECH CORP. $ (12,078) $ (17,330)
Income / ( Loss) from continuing operations per common share attributable to Terra Tech Corp. common stockholders - basic and diluted $ (0.05) $ (0.08)
Net Loss per common share attributable to Terra Tech Corp. common stockholders - basic and diluted $ (0.05) $ (0.11)
Weighted-average number of common shares outstanding - basic and diluted 237,752,273 150,906,135

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v3.21.1
CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income (loss) $ (11,696) $ (17,374)
Less: net loss from discontinued operations (14) 5,235
Net loss from continuing operations (11,710) (12,139)
Adjustments to reconcile net loss to net cash used in operating activities:    
Bad debt expense 0 295
Gain from debt forgiveness (86) 0
Unrealized gain on investments (6,212) 0
Loss (gain) on extinguishment of debt 6,161 0
Non-cash portion of severance expense 7,990 0
Non-cash interest expense 27 339
Gain on sale of assets 0 (35)
Depreciation and amortization 1,141 1,718
Amortization of operating lease right of use asset 195 225
Stock based compensation 398 960
Impairment loss 0 5,120
Change in operating assets and liabilities:    
Accounts receivable (465) (161)
Inventory (753) (516)
Prepaid expenses and other current assets (394) 215
Other assets 9 11
Accounts payable and accrued expenses 991 974
Operating lease liabilities (161) (221)
Net cash provided by / (used in) operating activities - continuing operations (2,869) (3,215)
Net cash provided by / (used in) operating activities - discontinued operations 18 (966)
NET CASH PROVIDED BY / (USED IN) OPERATING ACTIVITIES (2,851) (4,181)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of property, equipment and leasehold improvements (110) (182)
Cash from acquisitions 0 57
Proceeds from sales of assets 0 35
Net cash provided by / (used in) investing activities - continuing operations (110) (90)
Net cash provided by / (used in) investing activities - discontinued operations 0 2,182
NET CASH PROVIDED BY / (USED IN) INVESTING ACTIVITIES (110) 2,092
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from issuance of notes payable 3,500 1,392
Payments of debt principal (6) 0
Cash paid for debt issuance costs (178) 0
Proceeds from issuance of common stock 0 250
Cash contribution (distribution) from non-controlling interest 0 165
Net cash provided by / (used in) financing activities - continuing operations 3,316 1,807
Net cash provided by / (used in) financing activities - discontinued operations 0 0
NET CASH PROVIDED BY / (USED IN) FINANCING ACTIVITIES 3,316 1,807
NET CHANGE IN CASH 355 (282)
Cash at beginning of period 888 1,226
CASH AT END OF PERIOD 1,243 944
SUPPLEMENTAL DISCLOSURE FOR OPERATING ACTIVITIES:    
Cash paid for interest 182 360
SUPPLEMENTAL DISCLOSURE FOR NON-CASH INVESTING AND FINANCING ACTIVITIES:    
Debt principal and accrued interest converted into common stock 3,596 1,028
Promissory note issued for severance 2,100 0
Stock Issued for the acquisition of OneQor 0 9,305
Fixed assets in accounts payable 0 167
Stock options exercised on a net share basis $ 1 $ 0

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