Quarterly report pursuant to Section 13 or 15(d)

Unaudited Interim Condensed Consolidated Statements of Cash Flows Supplemental Information

v3.21.1
Unaudited Interim Condensed Consolidated Statements of Cash Flows Supplemental Information
 3 Months Ended
Mar. 31, 2021
Supplemental Cash Flow Elements [Abstract]  
Unaudited Interim Condensed Consolidated Statements of Cash Flows Supplemental Information
Note 12 -
Unaudited Interim
Condensed Consolidated Statements of Cash Flows Supplemental Information
(a) Cash payments made on account of:
 
  
For the Three
Months Ended
March 31,
 
 
  
2021
 
  
2020
 
Income taxes
  
$
657
 
  
$
  —  
 
Interest
  
 
24
 
  
 
52
 
(b) Changes in other
non-cash
operating assets and liabilities are comprised of the following:
 
 
  
For the Three Months Ended
March 31,
 
 
  
2021
 
  
2020
 
Decrease (increase) in:
  
      
  
      
Accounts receivables
  
$
(1,009
) 
  
$
(344
) 
Prepaid expenses
  
 
(1,028
) 
  
 
(790
) 
Inventories
  
 
(723
) 
  
 
(2,823
) 
Other assets
  
 
(719
) 
  
 
(54
) 
Increase (decrease) in:
  
      
  
      
Accounts payable
  
 
1,930
 
  
 
(3,974
) 
Accrued and other liabilities
  
 
6,341
 
  
 
11,458
 
 
  
 
 
 
  
 
 
 
 
  
$
4,792
 
  
$
3,473
 
 
  
 
 
 
  
 
 
 

(c) Depreciation and amortization are comprised of the following:
 
    
For the Three
Months Ended
March 31,
  
    
2021
     
2020
  
Property, plant and equipment
    $ 2,977      $ 2,146  
Operating lease
right-of-use
assets
      542        413  
Other intangible assets
      3,855        3,855  
    
 
 
     
 
 
  
    
$
7,374
 
   
$
6,414
 
    
 
 
     
 
 
  
(d) Write-downs and other charges are comprised of the following:
 
    
For the Three Months Ended
March 31, 2021
  
    
2020
     
 
  
Write-downs:
                  
Account
s
receivable provisions
    $ —        $ 329  
Fixed asset
      259        350  
    
 
 
     
 
 
  
    
$
259
 
   
$
679
 
    
 
 
     
 
 
  
 
(e) Significant
non-cash
investing and financing activities are as follows:
 
 
  
For the Three
Months Ended
March 31,
 
 
  
2021
 
  
2020
 
Supplemental Cash Flow Information:
  
      
  
      
Share issuance – settlement of outstanding obligations
  
$
  —  
 
  
$
193
 
Cashless exercise of MPX warrants recorded as derivatives
  
 
—  
 
  
 
3,325
 
Cash and Cash Equivalents
For purposes of the unaudited interim condensed consolidated balance sheets and the statements of cash flows, cash and cash equivalents include cash, restricted cash and amounts held primarily in U.S. dollars.
Restricted cash balances are those which meet the definition of cash and cash equivalents but are not available for use by the Company. As of March 31, 2021, the Company held $8,435 as restricted cash (December 31, 2020—$495), which is mainly related to funds held in escrow from the Senior Secured Bridge Notes. The net proceeds from the Senior Secured Bridge Notes were placed in escrow, and the availability of the funds are subject to drawdown requests that must be approved by the Secured Lenders.
The following table provides a reconciliation of cash and restricted cash reported within the unaudited interim condensed consolidated balance sheet to such amounts presented in the statement of cash flows:
 
    
March 31,
2021
     
December 31,
2020
  
Cash
    $ 13,692      $ 11,015  
Restricted cash
      8,435        495  
    
 
 
     
 
 
  
Total cash and restricted cash presented in statements of cash flows
   
$
22,127
 
   
$
11,510