WORKHORSE GROUP INC. WKHS Cash Flow

Workhorse group inc. (WKHS)

CashFlow / Quarterly

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Sep'12	Jun'12	Jun'11
Cash flows from operating activities:
Net income (loss)
4,756	655	-11,493	-20,060	-6,264	-17,689	-5,485	-6,909	-6,417	-11,705	-12,412	-9,178	-7,920	-6,977	-5,262	-2,935	-4,380	-3,752	-1,733	-1,881	-2,059	-1,647	-1,787	-1,965	-1,207	-1,319	-1,045	-2,162	-1,583	-1,283	-672	-2,410
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Depreciation
171	97	97	97	96	96	99	104	48	134	146	125	143	95	96	96	93	89	93	93	93	93	91	101	101	101	101	101	15	15	16	16
Tooling expense
353	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Amortization of discount and debt issuance costs on long-term debt
0	-	590	131	129	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Amortization of discount on mandatorily redeemable Series B preferred stock
377	-	363	119	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Interest expense on convertible debentures
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-2	26	0	0	0	13	52	0	0	0	0	0	-
Legal, consulting and investment services
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	14	154	137	239	134	420	246	256	260	342	415	0	-
Amortization of discount and debt issuance costs on long-term debt
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	0	0	0	0	23	27	0
Change in fair value of Convertible Note and loss on conversion to common stock
5,136	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change in fair value of warrant liability
-9,145	-	4,024	14,342	568	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change in fair value of investment in LMC
864	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Amortized discount and debt issuance costs on Senior Secured Notes
-	-	-	-	-	-	-	493	493	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Dividends for mandatorily redeemable Series B preferred stock paid in common stock
-500	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Interest on Convertible Note paid in common stock
264	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Loss on sale of assets
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	0	0	0	0	-14	0	0
Stock-based compensation
859	766	336	185	691	256	254	476	72	357	421	327	327	-54	512	108	233	123	113	66	99	-870	534	556	194	219	32	810	330	36	66	866
Interest expense paid in kind
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	247	0	0	0	225	-	-	-	-	-	-	-
Write down of inventory
-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	78	120	73	58	61	-	-	-	-	-	-	-	-	-	-	-
Inventory reserve
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	0	-	-	-	-	-	-	-
Capitalization of accrued interests
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	-	0	0	0	-	-	-
Effects of changes in operating assets and liabilities:
Accounts and lease receivable
35	-	-9	-375	351	-	-173	-149	-693	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Inventory
832	-	-	-	-42	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Prepaid expenses
-55	-	-	-	-225	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Accounts payable and accrued liabilities
1,665	-	-	-	-747	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Inventory
832	-	191	-270	-42	-	-26	-62	405	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Prepaid expenses and deposits
-	-	-	-	-	-	-	-34	-730	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Accounts payable and accrued liabilities
-	-	-	-	-	-	-	2,050	-70	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Legal and professional services
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0
Accounts and lease receivable
-	-	-	-	-	-	-	-	-	626	-45	-708	349	510	60	456	20	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-5
Inventory
-	-	-	-	-	-	-	-	-	-2,846	-1,997	4,398	2,602	-1,104	1,705	1,863	0	-	-	-	-	-	0	0	-	-1	-47	0	0	-40	0	82
Prepaid expenses and deposits
-	-	-	-	-	-	-	-	-	-1,449	1,134	-766	1,278	110	-554	-274	94	790	-22	27	6	3	22	0	4	-49	36	16	27	-26	0	5
Accounts payable and accrued liabilities
-	-	-	-	-	-	-	-	-	-	2,319	4,869	-1,278	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Warranty liability
699	505	66	337	147	-6,916	0	61	-61	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Accounts payable and accrued liabilities
-	-	-	-	-	-	-	-	-	-	-	-	-	711	1,741	-912	908	501	192	336	-121	8	594	156	-299	136	64	206	-114	178	277	-297
Accounts payable, related parties
-	-	-	-	-	-	-	-	-	-118	72	77	-77	45	31	-161	-213	80	-91	14	11	673	-612	-143	-0	38	25	32	-17	15	19	-44
Customer deposits
-113	-	-	-	-12	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Customer deposits
-	-	-	-	-	-	44	53	212	54	0	0	0	-	-	-	-	-	-	-	-	-	0	-177	-	-25	-177	210	110	0	0	-25
Net cash used by operations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-4,093	-5,850	-3,394	-4,045	-1,353	-1,327	-1,493	-1,608	-963	-1,338	-556	-497	-730	-558	-945	-517	-264	-1,976
Cash paid in acquisition of Workhorse Custom Chasis, LLC
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	0	0	0	2,750	0	0	-
Net cash used in operating activities
-7,822	-12,734	-12,326	-6,041	-5,768	-4,428	-9,748	-2,996	-4,581	-10,379	-8,543	-6,702	-13,036	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Cash flows from investing activities:
Capital expenditures
463	-1,996	1,036	2,965	0	-	-	-	-	57	15	34	35	380	57	61	28	32	-3	9	26	23	0	0	0	0	0	0	0	0	28	86
Proceeds from lease receivable
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from sale of fixed assets
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	0	0	0	0	0	0	0
Proceeds from lease receivable
-	-	-	-	-	-	-	-	-	-	9	14	110	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash used in investing activities
-463	5,651	-1,031	-2,965	0	-	-	-	-	-192	-5	-20	74	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Cash flows from financing activities:
Proceeds from notes payable
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	11,070	712	260	200	1,243	0	0	0	-100	0	0	100	0	0	-
Net cash provided by (used in) investing activities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-57	-61	-28	-32	3	-9	-26	-23	0	0	0	0	-0	0	-2,750	0	-28	-86
Proceeds from debentures and notes payable
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0
Payments on notes payable
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	0	0	0	0	0	0	0
Cash overdraft
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-
Proceeds from issuance of Convertible Note
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	392	-	0	0	-	0	0	0	0	500	539	-
Proceeds from long-term debt
0	-	-	-	4,104	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Shareholder advances, net of repayments
-	-	-	-	-	-	-	-	-	-	-	-	-	-1,191	-502	235	1,575	-1,600	1,011	652	47	1,649	-6	-4,135	2,206	721	655	0	0	-	-262	-
Shareholder advances
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0
Issuance of common stock
0	0	0	2,928	2,999	20	12,377	2,833	1,187	9	13,972	574	22,485	0	0	0	0	2,144	0	299	727	-1,649	0	4,742	1,200	-16	0	616	3,685	0	0	3,529
Exercise of warrants and options
243	35	0	0	0	-0	0	2	87	16	0	382	251	4,689	4,039	4,121	2,110	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash provided by financing activities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	3,537	4,357	963	11,614	1,330	1,210	1,364	1,240	-9	437	3,256	497	592	592	3,767	498	275	3,528
Net cash provided by financing activities
243	21,790	0	29,678	7,103	2,838	12,282	2,828	1,265	4,801	12,968	1,903	22,732	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change in cash, cash equivalents and restricted cash
-8,043	-	-	-	1,335	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Supplemental Cash Flow Information [Abstract]
Change in cash and cash equivalents
-	-	-	-	-	-	-	-167	-3,315	-5,770	4,419	-4,820	9,771	-2,579	-612	-1,554	-2,460	7,536	-20	-126	-155	-391	-972	-900	2,699	-0	-138	34	72	-18	-17	1,464
Cash and cash equivalents at inception, February 20, 2007
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-
Proceeds from long-term debt
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	0	0	0	0	0	0	0
Payments on long-term debt
-	-	-	-	-	2,050	7,824	7	9	7	7	57	4	0	0	-2,722	2,722	0	0	1	2	2	3	169	150	107	62	23	17	1	1	1
Conversion of convertible note, amount
4,335	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	0	0	0	-	-	-
Convertible Note, at fair value
Fair value option, gain (loss) related to change in fair value
-11,400	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-