Investors

Financials

v3.20.1
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2020
Dec. 31, 2019
Current Assets:    
Cash $ 946 $ 1,226
Accounts receivable, net 1,561 693
Inventory 5,012 4,334
Prepaid expenses and other assets 942 675
Current assets of discontinued operations 206 2,440
Total current assets 8,667 9,368
Property, equipment and leasehold improvements, net 35,021 35,469
Intangible assets, net 16,865 14,871
Goodwill 24,034 21,471
Other assets 11,842 7,631
Investments 5,330 5,000
Assets of discontinued operations 13,227 25,440
TOTAL ASSETS 114,986 119,250
Current liabilities:    
Accounts payable and accrued expenses 13,025 9,504
Deferred Revenue 300 0
Short-term debt 16,514 11,008
Current liabilities of discontinued operations 4,436 7,070
Total current liabilities 34,275 27,582
Long-term liabilities:    
Long-term debt, net of discounts 2,159 6,570
Long-term lease liabilities 8,422 8,902
Long-term liabilities of discontinued operations 0 869
Total long-term liabilities 10,581 16,341
Total liabilities 44,856 43,923
STOCKHOLDERS' EQUITY:    
Common stock, par value 0.001: 990,000,000 Shares authorized as of March 31, 2020 and December 31, 2019; 193,239,261 issued and 190,930,853 outstanding as of March 31, 2020 and 120,313,386 shares issued and 118,004,978 shares outstanding as of December 31, 2019 193 120
Additional paid-in capital 272,455 260,516
Treasury Stock (2,308,408 shares of common stock, 4 shares of Preferred Stock Convertible Series A) (808) (808)
Accumulated deficit (207,015) (189,685)
Total Terra Tech Corp. stockholders' equity 64,825 70,143
Non-controlling interest 5,305 5,184
Total stockholders' equity 70,130 75,327
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY 114,986 119,250
Series B Preferred Stock [Member]    
STOCKHOLDERS' EQUITY:    
Preferred stock, convertible series B, par value 0.001: 41,000,000 Shares Authorized as of March 31, 2020 and December 31, 2019; 0 Shares Issued and Outstanding as of March 31, 2020 and December 31, 2019 0 0
Series A Preferred Stock [Member]    
STOCKHOLDERS' EQUITY:    
Preferred stock, convertible series B, par value 0.001: 41,000,000 Shares Authorized as of March 31, 2020 and December 31, 2019; 0 Shares Issued and Outstanding as of March 31, 2020 and December 31, 2019 $ 0 $ 0

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v3.20.1
CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)    
Total revenues $ 4,313 $ 2,045
Cost of goods sold 1,975 445
Gross profit 2,338 1,600
Selling, general and administrative expenses 9,037 8,591
Impairment of assets 5,120 0
(Gain) / Loss on sale of assets (35) 0
Loss on interest in joint venture 0 1,067
Loss from operations (11,784) (8,058)
Other income (expense):    
Interest expense, net (902) (2,928)
Other income/loss 65 11
Total other income (expense) (837) (2,917)
Income (Loss) from continuing operations (12,621) (10,975)
Income (Loss) from discontinued operations, net of tax (4,752) (484)
NET INCOME (LOSS) (17,373) (11,459)
Less: Income (Loss) attributable to non-controlling interest from continuing operations (44) 77
Less: Income (Loss) attributable to non-controlling interest from discontinued operations 0 200
NET LOSS ATTRIBUTABLE TO TERRA TECH CORP. $ (17,329) $ (11,736)
Income / ( Loss) from continuing operations per common share attributable to Terra Tech Corp. common stockholders - basic and diluted $ (0.08) $ (0.12)
Net Loss per common share attributable to Terra Tech Corp. common stockholders - basic and diluted $ (0.11) $ (0.13)
Weighted-average number of common shares outstanding - basic and diluted 150,906,135 93,710,004

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v3.20.1
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income (loss) $ (17,373) $ (11,459)
Less: net loss from discontinued operations 4,752 484
Net loss from continuing operations (12,621) (10,975)
Adjustments to reconcile net loss to net cash used in operating activities:    
Bad debt expense 296 0
Cancellation of shares issued 0 (58)
Gain on sale of assets (35) 0
Amortization of debt discount 339 2,928
Depreciation and amortization 1,804 1,306
Non-cash operating lease expense 225 168
Stock based compensation 959 1,620
Loss on revaluation of equity interests 0 1,064
Impairment loss 5,120 0
Change in operating assets and liabilities:    
Accounts receivable (212) (47)
Inventory (597) (731)
Prepaid expenses and other current assets (26) (60)
Other assets (249) (672)
Accounts payable and accrued expenses 2,320 865
Operating lease liabilities (221) (475)
Net cash provided by / (used in) operating activities - continuing operations (2,898) (5,066)
Net cash provided by / (used in) operating activities - discontinued operations (1,281) (806)
NET CASH PROVIDED BY / (USED IN) OPERATING ACTIVITIES (4,179) (5,872)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of property, equipment and leasehold improvements (263) (2,408)
Purchase of equity investment (0) (402)
Cash from acquisitions 57 127
Proceeds from sales of assets 35 0
Net cash provided by / (used in) investing activities - continuing operations (171) (2,683)
Net cash provided by / (used in) investing activities - discontinued operations 2,263 18
NET CASH PROVIDED BY / (USED IN) INVESTING ACTIVITIES 2,092 (2,665)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from issuance of notes payable 1,392 6,000
Payments of debt principal 0 (1,000)
Cash paid for debt discount (0) (150)
Proceeds from issuance of common stock 250 2,300
Cash contribution (distribution) from non-controlling interest 165 0
Net cash provided by / (used in) financing activities - continuing operations 1,807 7,150
Net cash provided by / (used in) financing activities - discontinued operations 0 0
NET CASH PROVIDED BY / (USED IN) FINANCING ACTIVITIES 1,807 7,150
NET CHANGE IN CASH (280) (1,387)
Cash at beginning of period 1,226 7,193
CASH AT END OF PERIOD 946 5,806
SUPPLEMENTAL DISCLOSURE FOR OPERATING ACTIVITIES:    
Cash paid for interest 360 50
SUPPLEMENTAL DISCLOSURE FOR NON-CASH INVESTING AND FINANCING ACTIVITIES:    
Debt principal and accrued interest converted into common stock 1,028 7,750
Stock Issued for the acquisition of OneQor 9,305 0
Fixed assets in accounts payable 167 0
Consolidation of Joint Venture Net Assets 0 11,957
Financing Fees in Accounts Payable 0 25
Warrants issued for debt discount 0 163
Beneficial Conversion Feature $ 0 $ 4,662

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