Investors

Financials

v3.19.3
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Sep. 30, 2019
Dec. 31, 2018
Current Assets:    
Cash $ 1,858 $ 7,193
Accounts receivable, net 1,445 1,199
Notes receivable 450
Inventory 4,738 1,045
Prepaid expenses and other assets 707 707
Current assets of discontinued operations 1,087 1,366
Total current assets 10,285 11,510
Property, equipment and leasehold improvements, net 43,502 31,195
Intangible assets, net 16,290 18,466
Goodwill 35,173 35,172
Other assets 10,529 895
Other investments 5,000 12,450
Assets of discontinued operations 9,027 10,400
TOTAL ASSETS 129,806 120,088
Current liabilities:    
Accounts payable and accrued expenses 9,632 6,211
Short-term debt 921
Current liabilities of discontinued operations 3,248 690
Total current liabilities 13,801 6,901
Long-term liabilities:    
Long-term debt, net of discounts 15,040 18,313
Long-term lease liabilities 9,342
Long-term liabilities of discontinued operations 414
Total long-term liabilities 24,796 18,313
Total liabilities 38,597 25,214
STOCKHOLDERS' EQUITY:    
Common stock, par value 0.001: 990,000,000 shares authorized as of September 30, 2019 and December 31, 2018; 115,217,115 issued and 112,908,747 outstanding as of September 30, 2019 and 81,759,415 shares issued and outstanding as of December 31, 2018 115 82
Additional paid-in capital 258,262 236,543
Treasury stock (2,308,408 shares of common stock, 4 shares of preferred stock convertible series A) (808)
Accumulated deficit (172,308) (142,754)
Total Terra Tech Corp. stockholders' equity 85,261 93,871
Non-controlling interest 5,948 1,003
Total stockholders' equity 91,209 94,874
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY 129,806 120,088
Series A Preferred Stock [Member]    
STOCKHOLDERS' EQUITY:    
Preferred stock, convertible series A, par value 0.001: 100 shares authorized as of September 30, 2019 and December 31, 2018; 12 shares issued and 8 shares outstanding as of September 30, 2019 and 12 shares issued and outstanding as of December 31, 2018
Series B Preferred Stock [Member]    
STOCKHOLDERS' EQUITY:    
Preferred stock, convertible series A, par value 0.001: 100 shares authorized as of September 30, 2019 and December 31, 2018; 12 shares issued and 8 shares outstanding as of September 30, 2019 and 12 shares issued and outstanding as of December 31, 2018

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v3.19.3
CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)        
Total revenues $ 7,607 $ 3,293 $ 17,789 $ 13,480
Cost of goods sold 3,757 2,201 8,901 8,922
Gross profit 3,850 1,092 8,888 4,558
Selling, general and administrative expenses 11,004 9,513 31,649 26,005
Impairment of assets 171 681
(Gain) / loss on sale of assets 72 (893)
(Gain) / loss on interest in joint venture 5,949 439 439
Loss from operations (13,346) (8,860) (22,549) (21,885)
Other income (expense):        
Interest expense, net (1,768) (2,710) (8,420) (11,063)
Other income/loss (6) 76
Total other income (expense) (1,774) (2,710) (8,344) (11,063)
Income (Loss) from continuing operations (15,120) (11,570) (30,893) (32,948)
Income (Loss) from discontinued operations, net of tax 633 6 1,282 (579)
NET INCOME (LOSS) (14,487) (11,564) (29,611) (33,527)
Less: Income (Loss) attributable to non-controlling interest from continuing operations (143) (5) (57) (24)
Less: Income (Loss) attributable to non-controlling interest from discontinued operations 70 272
NET LOSS ATTRIBUTABLE TO TERRA TECH CORP. $ (14,344) $ (11,629) $ (29,554) $ (33,775)
Income / ( Loss) from continuing operations per common share attributable to Terra Tech Corp. common stockholders - basic and diluted $ (0.14) $ (0.16) $ (0.30) $ (0.48)
Net Loss per common share attributable to Terra Tech Corp. common stockholders - basic and diluted $ (0.13) $ (0.16) $ (0.29) $ (0.49)
Weighted-average number of common shares outstanding - basic and diluted 110,797,214 72,213,387 102,907,538 68,917,828

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v3.19.3
CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
CASH FLOWS FROM OPERATING ACTIVITIES    
Net Income (Loss) $ (29,611) $ (33,527)
Less Income from discontinued operations 1,282 (579)
Net loss from continuing operations (30,893) (32,948)
Adjustments to reconcile net loss to net cash used in operating activities:    
Bad debt expense 319
Cancellation of shares issued (58) (118)
Gain on sale of assets (893)
Non-cash interest expense 7,211 10,434
Depreciation and amortization 5,144 3,476
Non-cash operating lease expense 700
Stock based compensation 3,903 2,469
Gain on revaluation of equity interests
Impairment loss 681
Other (178) 284
Change in operating assets and liabilities:    
Accounts receivable (566) 70
Inventory (2,719) 2,728
Prepaid expenses and other current assets 88 (559)
Other assets 1,245 (50)
Accounts payable and accrued expenses 4,420 202
Operating lease liabilities (2,208)
Net cash provided by / (used in) operating activities - continuing operations (13,803) (14,012)
Net cash provided by / (used in) operating activities - discontinued operations 2,359 (399)
NET CASH PROVIDED BY / (USED IN) OPERATING ACTIVITIES (11,444) (14,411)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Issuance of note receivable (450)
Purchase of property, equipment and leasehold improvements (4,078) (9,561)
Purchase of equity investment (409) (7,088)
Purchase of intangible assets (100)
Cash acquired from NuLeaf acquisition 127
Proceeds from sales of assets 1,240
Net cash provided by / (used in) investing activities - continuing operations (3,670) (16,648)
Net cash provided by / (used in) investing activities - discontinued operations 3,486 (237)
NET CASH PROVIDED BY / (USED IN) INVESTING ACTIVITIES (184) (16,885)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from issuance of notes payable 11,000 25,050
Payments of debt principal (2,000)
Cash paid for debt discount (150) (942)
Proceeds from issuance of common stock 4,500 5,100
Proceeds from exercise of warrants 101
Cash paid for acquisition of non-controlling interest (6,250)
Cash contribution (distribution) from non-controlling interest (6)
Purchase of treasury stock (808)
Net cash provided by / (used in) financing activities - continuing operations 6,292 29,303
Net cash provided by / (used in) financing activities - discontinued operations
NET CASH PROVIDED BY / (USED IN) FINANCING ACTIVITIES 6,292 29,303
NET CHANGE IN CASH (5,336) (1,993)
NET CHANGE IN CASH CLASSIFIED WITHIN CURRENT ASSETS OF DISCONTINUED OPERATIONS (34)
Cash at beginning of period 7,193 5,446
CASH AT END OF PERIOD 1,858 3,419
SUPPLEMENTAL DISCLOSURE FOR OPERATING ACTIVITIES:    
Cash paid for interest 1,352 428
SUPPLEMENTAL DISCLOSURE FOR NON-CASH INVESTING AND FINANCING ACTIVITIES:    
Consolidation of NuLeaf net assets 11,965
Financing fees in accounts payable 145
Purchase of land and building with a mortgage 6,500
Claw back of escrow shares 351
Stock issued for assets 200
Warrants issued for debt discount 228 636
Deposits applied to the purchase of property 3,500
Beneficial conversion feature recorded for Dominion debt 5,633 7,171
Debt principal converted to common stock 12,450 26,800
Assets classified as held for sale 856
Share of profit in joint venture 439
Non-cash contribution from non-controlling interest $ 702

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