Investors

Financials

v3.20.2
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Sep. 30, 2020
Dec. 31, 2019
Current Assets:    
Cash $ 2,338 $ 1,226
Accounts receivable, net 351 693
Inventory 4,851 4,334
Prepaid expenses and other assets 457 675
Current assets of discontinued operations 183 2,440
Total current assets 8,180 9,368
Property, equipment and leasehold improvements, net 33,345 35,469
Intangible assets, net 8,028 14,871
Goodwill 6,171 21,471
Other assets 13,327 10,272
Investments 5,330 5,000
Assets of discontinued operations 2,981 22,799
TOTAL ASSETS 77,362 119,250
Current liabilities:    
Accounts payable and accrued expenses 10,752 9,526
Short-term debt 12,855 11,021
Current liabilities of discontinued operations 8,219 7,035
Total current liabilities 31,826 27,582
Long-term liabilities:    
Long-term debt, net of discounts 1,877 6,570
Long-term lease liabilities 8,448 8,902
Long-term liabilities of discontinued operations 55 869
Total long-term liabilities 10,380 16,341
Total liabilities 42,206 43,923
STOCKHOLDERS' EQUITY:    
Common stock, par value 0.001: 990,000,000 Shares authorized as of September 30, 2020 and December 31, 2019; 211,571,970 issued and 209,263,562 outstanding as of September 30, 2020 and 120,313,386 shares issued and 118,004,978 shares outstanding as of December 31, 2019 214 120
Additional paid-in capital 274,370 260,516
Treasury Stock (2,308,408 shares of common stock, 4 shares of Preferred Stock Convertible Series A) (808) (808)
Accumulated deficit (243,358) (189,685)
Total Terra Tech Corp. stockholders' equity 30,418 70,143
Non-controlling interest 4,738 5,184
Total stockholders' equity 35,156 75,327
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY 77,362 119,250
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

Source

v3.20.2
CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)        
Total revenues $ 3,053,000 $ 5,477,000 $ 9,806,000 $ 12,000,000
Cost of goods sold 1,615,000 2,295,000 4,796,000 4,917,000
Gross profit 1,438,000 3,182,000 5,010,000 7,083,000
Selling, general and administrative expenses 5,588,000 9,318,000 20,409,000 26,521,000
Impairment of assets 9,792,000 171,000 19,909,000 681,000
(Gain) / Loss on sale of assets 0 (893,000) (35,000) (893,000)
Loss on interest in joint venture 0 0 0 1,067,000
Loss from operations (13,943,000) (5,414,000) (35,273,000) (20,294,000)
Other income (expense):        
Interest expense, net (529,000) (1,714,000) (1,885,000) (8,262,000)
Other income/loss 372,000 (984,000) 349,000 13,000
Total other income (expense) (157,000) (2,698,000) (1,536,000) (8,249,000)
Income (Loss) from continuing operations (14,100,000) (8,112,000) (36,809,000) (28,543,000)
Income (Loss) from discontinued operations, net of tax (4,199,000) (811,000) (17,342,000) (2,135,000)
NET INCOME (LOSS) (18,299,000) (8,923,000) (54,151,000) (30,678,000)
Less: Income (Loss) attributable to non-controlling interest from continuing operations 138,000 143,000 479,000 57,000
NET LOSS ATTRIBUTABLE TO TERRA TECH CORP. $ (18,161,000) $ (8,780,000) $ (53,672,000) $ (30,621,000)
Income / ( Loss) from continuing operations per common share attributable to Terra Tech Corp. common stockholders - basic and diluted $ (0.07) $ (0.07) $ (0.20) $ (0.28)
Net Loss per common share attributable to Terra Tech Corp. common stockholders - basic and diluted $ (0.09) $ (0.08) $ (0.29) $ (0.30)
Weighted-average number of common shares outstanding - basic and diluted 206,828,614 110,797,214 186,295,127 102,907,538

Source

v3.20.2
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income (loss) $ (54,151,000) $ (30,678,000)
Less: net loss from discontinued operations 17,342,000 2,135,000
Net loss from continuing operations (36,809,000) (28,543,000)
Adjustments to reconcile net loss to net cash used in operating activities:    
Bad debt expense 650,000 319,000
Cancellation of shares issued 0 (58,000)
Gain on sale of assets (35,000) (893,000)
Amortization of debt discount 845,000 7,211,000
Depreciation and amortization 5,062,000 4,684,000
Operating lease expense 680,000 578,000
Stock based compensation 1,672,000 3,904,000
Impairment loss 19,910,000 681,000
Loss on revaluation of equity interests 0 1,067,000
Other 0 (178,000)
Change in operating assets and liabilities:    
Accounts receivable 292,000 (550,000)
Inventory (518,000) (2,934,000)
Prepaid expenses and other current assets 218,000 174,000
Other assets (1,024,000) 1,354,000
Accounts payable and accrued expenses 1,567,000 4,787,000
Operating lease liabilities (380,000) (2,137,000)
Net cash provided by / (used in) operating activities - continuing operations (7,870,000) (10,532,000)
Net cash provided by / (used in) operating activities - discontinued operations (5,020,000) (910,000)
NET CASH PROVIDED BY / (USED IN) OPERATING ACTIVITIES (12,890,000) (11,443,000)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of property, equipment and leasehold improvements (46,000) (1,208,000)
Purchase of equity investment 243,000 (409,000)
Cash outflow for loans (250,000) (450,000)
Cash from acquisitions 57,000 127,000
Proceeds from sales of assets 35,000 1,240,000
Net cash provided by / (used in) investing activities - continuing operations 39,000 (700,000)
Net cash provided by / (used in) investing activities - discontinued operations 11,189,000 516,000
NET CASH PROVIDED BY / (USED IN) INVESTING ACTIVITIES 11,228,000 (184,000)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from issuance of notes payable 2,954,000 11,000,000
Payments of debt principal (430,000) (2,000,000)
Cash paid for debt discount (8,000) (150,000)
Proceeds from issuance of common stock 250,000 4,500,000
Cash contribution from non-controlling interest 152,000 0
Cash paid for acquisition of non-controlling interest 0 (6,250,000)
Cash distribution to non-controlling interest (145,000) 0
Purchase of treasury stock 0 (808,000)
Net cash provided by / (used in) financing activities - continuing operations 2,773,000 6,292,000
Net cash provided by / (used in) financing activities - discontinued operations 0 0
NET CASH PROVIDED BY / (USED IN) FINANCING ACTIVITIES 2,773,000 6,292,000
NET CHANGE IN CASH 1,112,000 (5,335,000)
Cash at beginning of period 1,226,000 7,193,000
CASH AT END OF PERIOD 2,338,000 1,858,000
SUPPLEMENTAL DISCLOSURE FOR OPERATING ACTIVITIES:    
Cash paid for interest 892,000 1,352,000
SUPPLEMENTAL DISCLOSURE FOR NON-CASH INVESTING AND FINANCING ACTIVITIES:    
Debt principal and accrued interest converted into common stock 2,252,000 12,450,000
Stock Issued for the acquisition of OneQor 9,304,000 0
Fixed assets in accounts payable 792,000 0
Non-cash contribution from non-controlling interest 25,000 702,000
Consolidation of Joint Venture Net Assets 0 11,957,000
Financing Fees in Accounts Payable 0 145,000
Warrants issued for debt discount 0 228,000
Beneficial Conversion Feature $ 0 $ 5,633,000

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