Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Cash Flows From Operating Activities:      
Net loss $ (55,119) $ (17,846) $ (9,649)
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation and amortization 2,731 680 417
Non-cash lease expense 1,246
Dividend and interest income (62) 105
Change in fair value of derivative and other accrued liabilities 69 (173) (65)
Provision for bad debt 908 270 103
Loss on disposal of fixed assets 156 279 65
Loss on impairment of intangible assets 83
Gain on settlement of debt (310)
Provision for slow moving and obsolete inventory (187) (392) 437
Gain on forgiveness of PPP loan (856)
Gain on settlement of accounts payable, net (22) (274)
Stock-based compensation:      
Common stock 4,391 233 548
Options 14,717 715 181
Changes in operating assets and liabilities:      
Accounts receivable and other receivables (5,212) (336) (142)
Inventory (9,227) (1,247) (2,023)
Prepaid expenses and other current assets 710 (581) 168
Other assets 262 (226) (3)
Accounts payable and accrued expenses 3,723 842 (470)
Other liabilities 103
Lease liabilities (1,021) (184) (135)
Deferred revenue 2,098 (82) 197
Total Adjustments 14,549 (224) (1,116)
Net Cash Used In Operating Activities (40,570) (18,070) (10,765)
Cash Flows From Investing Activities:      
Proceeds from sale of marketable securities 6,804 2,774
Purchase of marketable securities (7,209)
Capitalization of engineering costs (237)
Purchase consideration of Blue Corner, net of cash acquired of $243 (22,742)
Cash acquired in the purchase of BlueLA Carsharing, LLC 3
Cash acquired in the purchase of U-Go Stations, Inc. 30
Purchases of property and equipment (7,065) (2,547) (553)
Net Cash (Used In) Provided By Investing Activities (30,449) 260 (553)
Cash Flows From Financing Activities:      
Proceeds from Issuance Initial Public Offering [1] 221,333 19,175
Proceeds from exercise of options and warrants 2,000 16,265
Proceeds from issuance of notes payable 856
Repayment of notes payable (165)
Payment of financing liability in connection with internal use software (62) (72) (52)
Net Cash Provided By Financing Activities 223,271 36,059 (52)
Effect of Exchange Rate Changes on Cash and Cash Equivalents 206
Net Increase In Cash and Cash Equivalents and Restricted Cash 152,458 18,249 (11,370)
Cash and Cash Equivalents and Restricted Cash - Beginning of Year 22,418 4,169 15,539
Cash and Cash Equivalents and Restricted Cash - End of Year 174,876 22,418 4,169
Cash and cash equivalents and restricted cash consisted of the following:      
Cash and cash equivalents 174,795 22,342 4,169
Restricted cash 81 76
Total Cash and cash equivalents and restricted cash 174,876 22,418 4,169
Cash paid during the year for:      
Interest
Non-cash investing and financing activities:      
Reduction of additional pain-in capital for public offering issuance costs for public offering issuance costs that were previously paid (39)
Common stock issued as consideration for property and equipment 600
Common stock issued as purchase consideration of Blue Corner 790
Options issued in satisfaction of accrued issuable equity 16
Net assets (excluding cash) acquired in the acquisition of BlueLA Carsharing, LLC 84
Internal use software obtained in exchange for financing liability 416
Right-of-use assets obtained in exchange for lease obligations 2,129 598
Change in fair value of marketable securities 183
Transfer of inventory to property and equipment (2,189) (1,980) (664)
Common stock issued as purchase consideration for the acquisition of U-Go Stations,Inc. 1,219
Net assets (excluding cash) acquired in the acquisition of U-Go Stations, Inc. 1,216
Accrued interest converted to notes payable 5 5
Common stock issued in satisfaction of accrued issuable equity 201 381
Accrual of additional stock consideration for U-Go Stations, Inc. $ 60
[1] For the year ended December 31, 2021, includes gross proceeds of $232,060, less issuance costs of $10,727 deducted directly from the offering proceeds. For the year ended December 31, 2020, includes gross proceeds of $20,000, less issuance costs of $825 deducted directly from the offering proceeds.