Investors

Financials

v3.20.2
CONSOLIDATED BALANCE SHEETS - USD ($)
Jun. 30, 2020
Dec. 31, 2019
Current Assets:    
Cash $ 744,000 $ 1,226,000
Accounts receivable, net 1,242,000 693,000
Inventory 4,768,000 4,334,000
Prepaid expenses and other assets 459,000 675,000
Current assets of discontinued operations 73,000 2,440,000
Total current assets 7,286,000 9,368,000
Property, equipment and leasehold improvements, net 34,066,000 35,469,000
Intangible assets, net 11,733,000 14,871,000
Goodwill 17,224,000 21,471,000
Other assets 14,980,000 10,272,000
Investments 5,330,000 5,000,000
Assets of discontinued operations 10,326,000 22,799,000
TOTAL ASSETS 100,945,000 119,250,000
Current liabilities:    
Accounts payable and accrued expenses 13,117,000 9,525,000
Deferred revenue 129,000 0
Short-term debt 16,885,000 11,021,000
Current liabilities of discontinued operations 8,083,000 7,035,000
Total current liabilities 38,216,000 27,582,000
Long-term liabilities:    
Long-term debt, net of discounts 1,878,000 6,570,000
Long-term lease liabilities 8,202,000 8,902,000
Long-term liabilities of discontinued operations 0 869,000
Total long-term liabilities 10,080,000 16,341,000
Total liabilities 48,294,000 43,923,000
STOCKHOLDERS' EQUITY:    
Common stock, par value 0.001: 990,000,000 Shares authorized as of June 30, 2020 and December 31, 2019; 204,777,168 issued and 202,468,760 outstanding as of June 30, 2020 and 120,313,386 shares issued and 118,004,978 shares outstanding as of December 31, 2019 207,000 120,000
Additional paid-in capital 273,526,000 260,516,000
Treasury Stock (2,308,408 shares of common stock, 4 shares of Preferred Stock Convertible Series A) (808,000) (808,000)
Accumulated deficit (225,198,000) (189,685,000)
Total Terra Tech Corp. stockholders' equity 47,728,000 70,143,000
Non-controlling interest 4,923,000 5,184,000
Total stockholders' equity 52,651,000 75,327,000
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY 100,945,000 119,250,000
Preferred Stock Convertible Series B [Member]    
STOCKHOLDERS' EQUITY:    
Preferred stock, convertible series 0 0
Preferred Stock Convertible Series A    
STOCKHOLDERS' EQUITY:    
Total stockholders' equity 0 0
Preferred stock, convertible series $ 0 $ 0

Source

v3.20.2
CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)        
Total revenues $ 3,308,000 $ 4,478,000 $ 7,621,000 $ 6,522,000
Cost of goods sold 1,916,000 2,177,000 3,891,000 2,622,000
Gross profit 1,392,000 2,301,000 3,730,000 3,900,000
Selling, general and administrative expenses 7,377,000 8,613,000 16,414,000 17,204,000
Impairment of assets 11,314,000 510,000 16,434,000 510,000
(Gain) / Loss on sale of assets 0 0 (35,000) 0
Loss on interest in joint venture 0 0 0 1,067,000
Loss from operations (17,299,000) (6,822,000) (29,082,000) (14,880,000)
Other income (expense):        
Interest expense, net (842,000) (3,620,000) (1,744,000) (6,548,000)
Other income/loss (88,000) 985,000 (23,000) 997,000
Total other income (expense) (930,000) (2,635,000) (1,767,000) (5,551,000)
Income (Loss) from continuing operations (18,229,000) (9,457,000) (30,849,000) (20,431,000)
Income (Loss) from discontinued operations, net of tax (252,000) (839,000) (5,004,000) (1,323,000)
NET INCOME (LOSS) (18,481,000) (10,296,000) (35,853,000) (21,754,000)
Less: Income (Loss) attributable to non-controlling interest from continuing operations (298,000) 8,000 (341,000) 86,000
Less: Income (Loss) attributable to non-controlling interest from discontinued operations 0 (200,000) 0 0
NET LOSS ATTRIBUTABLE TO TERRA TECH CORP. $ (18,183,000) $ (10,104,000) $ (35,512,000) $ (21,840,000)
Income / ( Loss) from continuing operations per common share attributable to Terra Tech Corp. common stockholders - basic and diluted $ (0.10) $ (0.09) $ (0.17) $ (0.21)
Net Loss per common share attributable to Terra Tech Corp. common stockholders - basic and diluted $ (0.10) $ (0.10) $ (0.20) $ (0.22)
Weighted-average number of common shares outstanding - basic and diluted 186,068,175 105,360,358 174,781,579 99,319,032

Source

v3.20.2
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income (loss) $ (35,853,000) $ (21,754,000)
Less: net loss from discontinued operations 5,004,000 1,323,000
Net loss from continuing operations (30,849,000) (20,431,000)
Adjustments to reconcile net loss to net cash used in operating activities:    
Bad debt expense 300,000 0
Cancellation of shares issued 0 (58,000)
Gain on sale of assets (35,000) (966,000)
Amortization of debt discount 627,000 6,052,000
Depreciation and amortization 3,700,000 2,979,000
Operating lease expense 446,000 408,000
Stock based compensation 1,244,000 2,686,000
Loss on revaluation of equity interests 0 1,064,000
Impairment loss 16,434,000 510,000
Other 0 253,000
Change in operating assets and liabilities:    
Accounts receivable 353,000 (768,000)
Inventory (353,000) (1,874,000)
Prepaid expenses and other current assets (57,000) (240,000)
Other assets (1,521,000) (962,000)
Accounts payable and accrued expenses 3,847,000 1,520,000
Deferred revenue (171,000) 0
Operating lease liabilities (655,000) (294,000)
Net cash provided by / (used in) operating activities - continuing operations (6,690,000) (10,122,000)
Net cash provided by / (used in) operating activities - discontinued operations (1,474,000) 60,000
NET CASH PROVIDED BY / (USED IN) OPERATING ACTIVITIES (8,164,000) (10,062,000)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of property, equipment and leasehold improvements (665,000) 77,000
Purchase of equity investment 0 (402,000)
Cash outflow for loans (250,000) 0
Cash from acquisitions 57,000 127,000
Proceeds from sales of assets 35,000 1,321,000
Net cash provided by / (used in) investing activities - continuing operations (824,000) 1,123,000
Net cash provided by / (used in) investing activities - discontinued operations 6,257,000 (2,782,000)
NET CASH PROVIDED BY / (USED IN) INVESTING ACTIVITIES 5,433,000 (1,659,000)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from issuance of notes payable 1,953,000 10,000,000
Payments of debt principal (35,000) (1,000,000)
Cash paid for debt discount 0 (150,000)
Proceeds from issuance of common stock 250,000 3,850,000
Cash paid for acquisition of non-controlling interest 0 (6,250,000)
Cash contribution (distribution) from non-controlling interest 80,000 0
Net cash provided by / (used in) financing activities - continuing operations 2,249,000 6,450,000
Net cash provided by / (used in) financing activities - discontinued operations 0 0
NET CASH PROVIDED BY / (USED IN) FINANCING ACTIVITIES 2,249,000 6,450,000
NET CHANGE IN CASH (482,000) (5,271,000)
Cash at beginning of period 1,226,000 7,193,000
CASH AT END OF PERIOD 744,000 1,922,000
SUPPLEMENTAL DISCLOSURE FOR OPERATING ACTIVITIES:    
Cash paid for interest 625,000 909,000
SUPPLEMENTAL DISCLOSURE FOR NON-CASH INVESTING AND FINANCING ACTIVITIES:    
Debt principal and accrued interest converted into common stock 1,829,000 11,200,000
Stock Issued for the acquisition of OneQor 9,305,000 0
Fixed assets in accounts payable 35,000 0
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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