Workhorse group inc. (WKHS)
Balance Sheet / Yearly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Dec'11Sep'11Jun'11Dec'10
Assets [Abstract]
Current assets:
Cash and cash equivalents

16,824

23,868

9,261

23,519

2,847

1,512

2,994

586

753

4,069

9,839

5,420

10,240

469

3,049

3,662

5,216

7,677

140

160

287

442

833

1,806

2,706

7

7

146

111

39

15

34

51

89

103

1,673

385

Restricted cash held in escrow

0

1,000

900

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Accounts receivable, less allowance for doubtful accounts of $0 at March 31, 2020 and December 31, 2019

48

7

-

-

362

0

1

165

304

1,013

225

270

978

628

536

476

20

0

-

-

-

-

-

-

-

-

-

-

-

-

5

5

5

5

5

29

58

Lease receivable, current

33

33

-

-

-

48

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Lease receivable

-

-

42

42

41

-

41

41

41

45

57

69

95

98

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Inventory, net

2,630

1,798

2,388

2,197

2,490

2,533

4,938

4,964

5,027

4,621

7,468

9,466

5,067

2,464

3,568

1,863

0

78

198

272

330

392

392

392

392

392

393

441

441

41

82

122

122

122

122

82

-

Prepaid expenses

4,756

4,812

6,355

1,720

2,048

2,274

536

181

215

946

1,901

767

1,533

255

144

698

972

3,149

1,086

109

81

74

70

48

48

43

93

57

40

13

13

39

39

51

72

15

9

Total current assets

24,294

31,519

18,948

27,479

7,791

6,369

8,512

5,938

6,342

10,696

19,491

15,993

17,915

3,916

7,299

6,699

6,209

10,905

1,426

542

699

909

1,297

2,247

3,147

443

495

645

593

93

115

200

217

267

303

1,799

453

Noncurrent assets
Land

-

-

-

-

-

-

-

-

700

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

300

300

300

0

-

-

-

-

-

-

-

Buildings

-

-

-

-

-

-

-

-

5,900

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

3,800

3,800

3,800

0

-

-

-

-

-

-

-

Leasehold improvements

-

-

-

-

-

-

-

-

19

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

19

19

19

19

19

19

19

19

-

-

-

Software

-

-

-

-

-

-

-

-

86

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Software

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

27

27

27

27

27

27

27

27

27

5

5

Equipment

-

-

-

-

-

-

-

-

829

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

670

670

670

170

178

178

149

149

144

128

128

Vehicles and prototypes

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

164

164

164

164

-

-

-

189

-

-

-

Vehicles and prototypes

-

-

-

-

-

-

-

-

156

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

164

189

189

-

-

-

-

Vehicles and prototypes

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

189

176

90

Property, plant and equipment, Gross

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

4,982

4,982

4,982

382

390

414

386

386

361

310

224

Less: accumulated depreciation

-

-

-

-

-

-

-

-

2,143

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

473

371

270

255

242

236

220

203

190

175

147

Property, plant and equipment, net

6,768

6,830

8,923

8,009

5,140

5,237

5,442

5,443

5,547

5,596

5,673

5,804

5,895

6,002

3,598

3,636

3,671

3,736

3,793

3,890

3,974

4,042

4,112

4,204

4,305

4,407

4,508

4,610

4,711

126

148

178

165

182

171

134

76

Investment in LMC

13,059

12,194

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Lease receivable, long-term

123

129

-

-

-

198

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Lease receivable

-

-

169

179

193

-

211

221

231

212

227

224

213

320

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Total Assets

44,246

50,673

28,041

35,668

13,125

11,804

14,165

11,603

12,122

16,504

25,392

22,022

24,023

10,239

10,897

10,336

9,881

14,641

5,219

4,433

4,674

4,951

5,410

6,451

7,453

4,850

5,003

5,255

5,305

220

263

378

383

449

474

1,934

529

Liabilities and Stockholders’ Deficit
Current liabilities:
Accounts payable

3,061

1,678

995

2,010

3,639

4,340

2,912

5,844

4,202

5,657

10,111

7,532

2,618

3,121

3,232

1,490

2,402

1,606

1,781

1,807

1,473

1,603

1,369

1,416

1,260

1,546

1,409

1,345

1,138

1,253

1,746

1,567

1,290

1,367

860

496

451

Accrued liabilities

3,387

3,105

3,996

4,047

3,900

3,946

2,060

2,061

1,757

284

-

-

-

802

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Warranty liability

5,302

6,001

6,506

6,573

6,911

7,058

-

-

-

142

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Warrant liability

7,190

16,335

-

-

-

1,822

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Customer deposits

-

-

-

-

-

406

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Duke financing obligation

-

-

-

-

-

1,340

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Warrant liability

-

-

19,901

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Warrant liability

-

-

-

15,876

2,390

-

2,013

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Customer deposits

190

303

334

359

394

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Duke financing obligation

-

-

1,340

1,340

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Duke financing obligation

-

-

-

-

1,340

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Revolving loan

-

-

-

5,854

4,104

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Notes payable, related parties

-

-

-

-

-

-

-

550

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Accounts payable, related parties

-

-

-

-

-

-

45

158

116

-

146

77

24

101

55

23

185

399

318

410

396

384

353

324

467

468

376

351

319

336

309

293

274

211

150

186

206

Notes payable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

0

13,534

780

460

-

1,243

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

Notes payable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

200

-

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

Customer deposits

-

-

-

-

-

-

364

320

267

54

-

-

-

0

-

-

-

-

-

-

-

-

0

0

177

177

202

380

170

60

25

25

25

25

25

25

77

Duke financing obligation

-

-

-

-

-

-

-

-

-

-

7

1,004

0

229

1,420

1,922

1,687

111

1,112

700

47

0

0

6

4,141

1,934

1,213

558

558

558

43

43

305

312

105

43

43

Convertible debentures

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

Convertible debentures

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,902

1,384

825

-

-

-

-

Current portion of Convertible Note, at fair value

20,160

19,620

6,354

-

-

0

0

382

381

381

61

30

80

79

50

50

50

2,772

2,762

2,763

2,765

35

37

38

248

338

392

392

377

230

21

23

21

20

6

6

6

Current liabilities, other than notes payable

-

-

-

-

-

-

7,396

9,317

-

6,520

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net Senior Secured Notes

-

-

-

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Notes payable

-

-

-

-

-

-

-

5,750

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Total current liabilities

39,292

47,044

39,428

36,061

22,680

18,915

12,174

15,067

6,724

-

10,326

8,645

2,722

4,334

4,758

3,487

4,326

18,424

6,755

6,142

4,883

3,267

1,760

1,785

6,294

4,464

3,594

3,027

2,563

2,438

4,048

3,337

2,742

1,936

1,147

757

784

Principal amount of notes payable

-

-

-

-

-

-

-

-

5,256

5,750

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Arosa Loan

-

-

-

-

-

-

7,800

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Unamortized discount and issuance costs

-

-

-

-

-

-

-3,022

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net Arosa Loan

-

-

-

-

-

-

4,777

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Senior Secured Notes

-

-

-

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Principal amount of notes payable

-

-

-

-

-

-

-

5,750

5,750

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Less unamortized discount and debt issuance costs

-

-

-

-

-

-

0

0

493

987

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Notes payable less unamortized discount and debt issuance costs

-

-

-

-

-

-

-

-

-

4,762

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Total current liabilities

-

-

-

-

-

-

-

-

11,980

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Notes payable less unamortized discount and debt issuance costs

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Long-term debt

-

-

-

-

-

-

-

-

-

-

2,037

2,075

2,083

-

0

0

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Long-term debt

7,430

19,400

8,205

8,572

8,441

8,312

-

1,692

1,700

1,709

-

-

-

2,088

-

-

-

-

10

10

10

2,494

2,495

2,497

2,456

2,292

2,346

2,409

2,448

362

64

63

66

69

20

22

25

Mandatorily redeemable Series B preferred stock

19,520

19,142

18,772

18,409

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Commitments and contingencies

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

0

0

0

0

0

0

0

0

Stockholders’ deficit:
Series A preferred stock, par value $0.001 per share, 75,000,000 shares authorized, 0 shares issued and outstanding at March 31, 2020 and December 31, 2019

0

0

0

0

-

0

0

0

0

-

0

0

0

0

0

0

0

0

0

0

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

Common stock, par value $0.001 per share, 250,000,000 shares authorized, 69,493,836 shares issued and outstanding at March 31, 2020 and 67,105,000 shares issued and outstanding at December 31, 2019

69

67

66

66

61

58

56

45

41

41

41

36

35

27

26

24

22

18

175

168

-

14

-

-

-

-

-

-

-

-

-

-

-

-

37

37

27

Series A preferred stock, par value of $.001 per share 75,000,000 shares shares authorized, 0 shares issued and outstanding at December 31, 2013 and December 31, 2012

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

0

0

0

0

0

0

0

0

0

0

0

0

-

-

-

Common stock, par value of $.001 per share 500,000,000 shares authorized,165,293,510 shares issued and outstanding at March 31, 2015 and 149,944,982 shares issued and outstanding at December 31, 2014

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

165

-

149

146

98

82

81

80

76

55

41

38

38

38

-

-

-

Additional paid-in capital

150,883

143,826

141,030

140,527

129,764

126,076

125,802

113,181

109,106

107,760

105,848

91,458

90,175

66,862

55,599

51,555

47,079

33,557

31,836

30,127

29,664

27,263

26,992

26,754

21,926

20,321

20,192

19,936

19,063

14,956

12,627

12,210

12,201

12,063

11,251

11,148

6,647

Stock based compensation

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-6,608

-6,102

-6,350

-6,158

-6,207

-6,016

-6,101

-6,002

-6,456

-5,922

-5,366

-5,171

-4,951

-4,919

-4,108

-3,778

-3,696

-3,659

-3,592

-3,439

-2,804

-2,636

-1,436

Accumulated deficit

-174,049

-178,806

-179,461

-167,968

-147,821

-141,557

-123,867

-118,382

-110,707

-104,290

-92,861

-80,193

-70,993

-63,073

-56,096

-50,833

-47,897

-43,517

-39,764

-38,031

-

-34,090

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Accumulated other comprehensive income

1,100

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Accumulated deficit

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

36,149

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Accumulated deficit during the development stage

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

32,442

30,654

28,688

27,481

26,162

25,117

22,954

21,371

20,214

18,931

18,259

17,098

14,787

12,666

8,393

Total stockholders' deficit

-21,996

-34,913

-38,364

-27,374

-17,995

-15,422

1,990

-5,155

-1,559

3,511

13,028

11,301

19,217

-

6,138

6,849

5,555

-3,783

-1,545

-1,718

-218

-809

1,154

2,168

-1,298

-1,906

-936

-181

293

-2,580

-3,849

-3,022

-2,425

-1,556

-693

-

-280

Stockholders' equity (deficit), Total

-

-

-

-

-

-

-

-

-

-

-

-

-

3,816

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,155

-

Total Liabilities and Stockholders' Deficit

44,246

50,673

28,041

35,668

13,125

11,804

14,165

11,603

12,122

16,504

25,392

22,022

24,023

10,239

10,897

10,336

9,881

14,641

5,219

4,433

4,674

4,951

5,410

6,451

7,453

4,850

5,003

5,255

5,305

220

263

378

383

449

474

1,934

529