Investors

Financials

v3.20.1
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2019
Dec. 31, 2018
Current Assets:    
Cash $ 1,226 $ 7,193
Accounts receivable, net 1,457 1,209
Inventory 5,155 1,359
Prepaid expenses and other current assets 882 714
Current assets of discontinued operations 648 1,034
Total current assets 9,368 11,509
Property, equipment and leasehold improvements, net 40,082 31,681
Intangible assets, net 15,270 18,466
Goodwill 27,722 35,172
Other assets 11,317 895
Other investments 5,000 12,451
Assets of discontinued operations 10,490 9,914
TOTAL ASSETS 119,249 120,088
Current liabilities:    
Accounts payable and other accrued expenses 11,820 6,396
Short-term debt 11,022
Current liabilities of discontinued operations 4,740 505
Total current liabilities 27,582 6,901
Long-term liabilities:    
Long-term debt, net of discounts 6,570 18,313
Long-term lease liabilities 9,771
Total long-term liabilities 16,341 18,313
Total liabilities 43,923 25,214
STOCKHOLDERS' EQUITY:    
Common stock, par value $0.001: 990,000,000 Shares authorized as of December 31, 2019 and 2018; 120,313,386 shares issued and 118,004,978 shares outstanding as of December 31, 2019; and 81,759,415 shares issued and outstanding as of December 31, 2018. 120 82
Additional paid-in capital 260,516 236,543
Treasury stock (808)
Accumulated deficit (189,686) (142,754)
Total Terra Tech Corp. stockholders' equity 70,142 93,871
Non-controlling interest 5,184 1,003
Total stockholders' equity 75,326 94,874
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY 119,249 120,088
Series A Preferred Stock [Member]    
STOCKHOLDERS' EQUITY:    
Preferred stock, value
Series B Preferred Stock [Member]    
STOCKHOLDERS' EQUITY:    
Preferred stock, value

Source

v3.20.1
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
CONSOLIDATED STATEMENTS OF OPERATIONS    
Total revenues $ 28,050 $ 20,164
Cost of goods sold 13,396 13,159
Gross profit 14,654 7,005
Selling, general and administrative expenses 45,322 37,911
Impairment of assets 8,347
(Gain) / loss on sale of assets (794) (5,152)
(Gain) / loss on interest in joint venture 1,067 662
Loss from operations (39,288) (26,416)
Other income (expense):    
Interest expense, net (9,297) (10,970)
Other income/loss 144 (1,599)
Total other income / (expense) (9,153) (12,569)
Income / (loss) from continuing operations (48,441) (38,984)
Income / (loss) from discontinued operations, net of tax 588 (490)
NET INCOME / (LOSS) (47,853) (39,474)
Less: Income / (Loss) attributable to non-controlling interest from continuing operations (921) (41)
Less: Income / (Loss) attributable to non-controlling interest from discontinued operations 320
NET LOSS ATTRIBUTABLE TO TERRA TECH CORP. $ (46,932) $ (39,753)
Income / ( Loss) from continuing operations per common share attributable to Terra Tech Corp. common stockholders - basic and diluted $ (0.45) $ (0.55)
Net Income / ( Loss) per common share attributable to Terra Tech Corp. common stockholders - basic and diluted $ (0.44) $ (0.56)
Weighted-Average Number of Common Shares Outstanding - Basic and Diluted (1) 106,037,631 71,028,851

Source

v3.20.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
CASH FLOWS FROM OPERATING ACTIVITIES    
Net Income (Loss) $ (47,852) $ (39,474)
Less: Income from discontinued operations (588) 490
Net loss from continuing operations (48,440) (38,984)
Adjustments to reconcile net loss to net cash used in operating activities:    
Bad debt expense 2,221
Cancellation of shares issued (58) (118)
Gain on sale of assets (860) (5,644)
Non-cash interest expense 7,880 11,926
Depreciation and amortization 7,213 4,706
Non-cash operating lease expense 1,218
Stock based compensation 5,286 3,457
Loss on revaluation of equity interests 1,067
Impairment loss 8,347
Other (28) 662
Change in operating assets and liabilities:    
Accounts receivable (2,668) (249)
Inventory (2,821) 3,849
Prepaid expenses and other current assets (93) (438)
Other assets 1 (319)
Accounts payable and accrued expenses 7,790 1,422
Operating lease liabilities (1,894)
Net cash provided by / (used in) operating activities - continuing operations (15,839) (19,730)
Net cash provided by / (used in) operating activities - discontinued operations 1,099 (147)
NET CASH PROVIDED BY / (USED IN) OPERATING ACTIVITIES (14,740) (19,877)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Issuance of note receivable (1,800)
Purchase of property, equipment and leasehold improvements (4,482) (11,407)
Purchase of equity investment (400) (7,766)
Purchase of intangible assets (100)
Cash acquired from NuLeaf acquisition 127
Proceeds from sales of assets 1,249 5,644
Net cash provided by / (used in) investing activities - continuing operations (5,406) (13,529)
Net cash provided by / (used in) investing activities - discontinued operations 6,035 (3,002)
NET CASH PROVIDED BY / (USED IN) INVESTING ACTIVITIES 629 (16,531)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from issuance of notes payable 13,000 33,650
Payments of debt principal (2,150)
Cash paid for debt discount (150) (1,195)
Proceeds from issuance of common stock 4,500 5,600
Proceeds from exercise of warrants 101
Cash paid for acquisition of non-controlling interest (6,250)
Cash contribution (distribution) from non-controlling interest 1
Purchase of treasury stock (808)
Net cash provided by / (used in) financing activities - continuing operations 8,143 38,156
Net cash provided by / (used in) financing activities - discontinued operations
NET CASH PROVIDED BY / (USED IN) FINANCING ACTIVITIES 8,143 38,156
NET CHANGE IN CASH (5,968) 1,748
Cash at beginning of period 7,193 5,445
CASH AT END OF PERIOD 1,226 7,193
SUPPLEMENTAL DISCLOSURE FOR OPERATING ACTIVITIES:    
Cash paid for interest 1,594
SUPPLEMENTAL DISCLOSURE FOR NON-CASH INVESTING AND FINANCING ACTIVITIES:    
Consolidation of NuLeaf net assets 11,957
Financing fees in accounts payable 165
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 183 818
Deposits applied to the purchase of property 3,500
Non-cash contribution from non-controlling interest 703
Beneficial conversion feature recorded for Dominion debt 5,795 9,015
Debt principal converted to common stock $ 13,200 $ 36,267

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