Investors

Financials

v3.21.1
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2020
Dec. 31, 2019
Current assets:    
Cash $ 888 $ 1,226
Accounts receivable, net 835 693
Short term investments 34,045 0
Inventory 1,602 4,334
Prepaid expenses and other current assets 234 675
Current assets of discontinued operations 2 2,440
Total current assets 37,606 9,368
Property, equipment and leasehold improvements, net 32,480 35,469
Intangible assets, net 7,714 14,871
Goodwill 6,171 21,471
Other assets 13,040 10,272
Investments 330 5,000
Assets of discontinued operations 2,953 22,799
TOTAL ASSETS 100,294 119,250
Current liabilities:    
Accounts payable and other accrued expenses 8,621 9,526
Short-term debt 8,033 11,022
Current liabilities of discontinued operations 9,768 7,035
Total current liabilities 26,422 27,583
Long-term liabilities:    
Long-term debt, net of discounts 6,632 6,570
Long-term lease liabilities 8,082 8,902
Long-term liabilities of discontinued operations 28 869
Total long-term liabilities 14,742 16,341
Total liabilities 41,164 43,924
STOCKHOLDERS' EQUITY:    
Additional paid-in capital 275,060 260,516
Treasury stock (808) (808)
Accumulated deficit (219,803) (189,686)
Total Terra Tech Corp. stockholders' equity 54,667 70,142
Non-controlling interest 4,463 5,184
Total stockholders' equity 59,130 75,326
Common stock, par value $0.001: 990,000,000 Shares authorized as of December 31, 2020 and 2019; 196,512,867 shares issued and 194,204,459 shares outstanding as of December 31, 2020; 120,313,386 shares issued and 118,004,978 shares outstanding as of December 31, 2019. 218 120
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY 100,294 119,250
Preferred Stock Convertible Series A [Member]    
STOCKHOLDERS' EQUITY:    
Preferred stock, convertible series A, par value $0.001: 0 0
Preferred Stock Convertible Series B [Member]    
STOCKHOLDERS' EQUITY:    
Preferred stock, convertible series A, par value $0.001: $ 0 $ 0

Source

v3.21.1
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
CONSOLIDATED STATEMENTS OF OPERATIONS    
Total revenues $ 14,287 $ 16,488
Cost of goods sold 10,687 6,139
Gross profit 3,600 10,349
Selling, general and administrative expenses 24,602 36,676
Impairment of assets 19,910 8,313
(Gain) / Loss on sale of assets (35) (802)
(Gain) / Loss on interest in joint venture 0 1,067
Loss from operations (40,877) (34,905)
Other income / (expense)    
Interest expense, net (2,932) (9,293)
Unrealized gain/(loss) on investments 29,045 0
Other income / (loss) 964 50
Total other income / (expense) 27,077 (9,243)
Income / (loss) from continuing operations (13,800) (44,148)
Income / (loss) from discontinued operations, net of tax (17,071) (3,704)
NET INCOME / (LOSS) (30,871) (47,852)
Less: Income / (Loss) attributable to non-controlling interest from continuing operations (754) (921)
NET LOSS ATTRIBUTABLE TO TERRA TECH CORP. $ (30,117) $ (46,931)
Income / ( Loss) from continuing operations per common share attributable to Terra Tech Corp. common stockholders - basic and diluted $ (0.07) $ (0.45)
Net Income / ( Loss) per common share attributable to Terra Tech Corp. common stockholders - basic and diluted $ (0.16) $ (0.44)
Weighted-Average Number of Common Shares Outstanding - Basic and Diluted 191,978,187 106,037,631

Source

v3.21.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net Income (Loss) $ (30,871) $ (47,852)
Less: Income from discontinued operations 17,071 3,704
Net loss from continuing operations (13,800) (44,148)
Adjustments to reconcile net loss to net cash used in operating activities:    
Bad debt expense 650 2,217
Depreciation and amortization 6,314 6,396
Impairment loss 19,910 8,313
Gain on sale of assets (35) (788)
Amortization of operating lease right of use asset 857 805
Non-cash interest expense 1,004 7,880
Stock-based compensation 2,175 5,287
Unrealized gain on investments (29,045) 0
Loss recognized upon consolidation of equity interests 0 1,067
Other 841 (84)
Change in operating assets and liabilities:    
Accounts receivable (256) (715)
Inventory 2,732 (3,117)
Prepaid expenses and other current assets 441 (56)
Other assets (920) (148)
Accounts payable and accrued expenses (174) 2,464
Operating lease liabilities (786) 2,116
Net cash provided by / (used in) operating activities - continuing operations (10,092) (12,511)
Net cash provided by / (used in) operating activities - discontinued operations (4,748) (2,229)
NET CASH PROVIDED BY / (USED IN) OPERATING ACTIVITIES (14,840) (14,740)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of property, equipment and leasehold improvements (1,473) (1,591)
Insurance proceeds for damaged assets 452 0
Purchase of equity investment 0 (400)
Issuance of note receivable (250) (1,800)
Purchase of intangible assets 0 0
Cash from acquisitions 57 127
Proceeds from sales of assets 35 1,249
Net cash provided by / (used in) investing activities - continuing operations (1,179) (2,415)
Net cash provided by / (used in) investing activities - discontinued operations 12,982 3,044
NET CASH PROVIDED BY / (USED IN) INVESTING ACTIVITIES 11,803 629
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from issuance of notes payable 2,954 13,000
Payments of debt principal (506) (2,150)
Proceeds from issuance of common stock 250 4,500
Purchase of treasury stock 0 (808)
Cash paid for acquisition of non-controlling interest 0 (6,250)
Cash contribution from non-controlling interest 152 1
Cash distribution to non-controlling interest (144) 0
Other (8) (150)
Net cash provided by / (used in) financing activities - continuing operations 2,698 8,143
Net cash provided by / (used in) financing activities - discontinued operations 0 0
NET CASH PROVIDED BY / (USED IN) FINANCING ACTIVITIES 2,698 8,143
NET CHANGE IN CASH (339) (5,968)
Cash at beginning of period 1,226 7,194
CASH AT END OF PERIOD 888 1,226
SUPPLEMENTAL DISCLOSURE FOR OPERATING ACTIVITIES:    
Cash paid for interest 1,177 1,594
SUPPLEMENTAL DISCLOSURE FOR NON-CASH INVESTING AND FINANCING ACTIVITIES:    
Consolidation of NuLeaf net assets 0 11,957
Financing Fees in accounts payable 0 165
Stock issued for the acquisition of OneQor 9,305 0
Warrants issued in conjunction with debt 0 183
Stock issued for prior bonuses 469 0
Fixed assets in accounts payable 484 0
Non-cash contributions from non-controlling interest 0 702
Debt principal and interest converted to common stock 2,444 13,200
Beneficial conversion feature recorded for Dominion debt $ 0 $ 5,795

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