Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.23.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Jan. 02, 2023
Dec. 31, 2021
Cash Flows Provided By (Used In) Operating Activities    
Net loss $ (103,432) $ (121,494)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities    
Goodwill and intangible asset impairment 66,569 114,797
Asset impairment 6,946 0
Gain on change in value of warrant liability (2,511) (13,811)
Depreciation and amortization 17,138 10,060
Share-based compensation expense 10,239 7,573
Forfeited franchise deposits (1,481) (834)
Deferred income taxes (130) 312
Non-cash interest 4,457 841
Provision for bad debts 8 234
Loss on disposal of property & equipment 38 203
Store closure costs 661 0
Non-cash lease cost 185 0
Gain on extinguishment of debt 0 (2,237)
Changes in operating assets and liabilities, net of acquisitions    
Accounts receivable (268) (633)
Inventory 67 (142)
Other assets (499) 81
Accounts payable - trade and other 224 303
Accrued expenses 3,576 (4,045)
Deferred rent 0 871
Deferred revenue and other liabilities 381 454
Cash Flows Provided By (Used In) Operating Activities 2,168 (7,467)
Net Cash Flows From Investing Activities    
Purchase of property & equipment (2,517) (10,665)
Cash acquired as part of the Anthony's acquisition 0 5,522
Proceeds from the sale of property & equipment 1,087 80
Other investing activities (119) 48
Net Cash Flows Used In Investing Activities (1,549) (5,015)
Net Cash Flows From Financing Activities    
Proceeds from borrowings 1,500 0
Payments on borrowings (3,339) (12,168)
Payment of direct costs on issuance of common stock (1,089) (844)
Debt issuance costs (486) 0
Repayments of finance leases (177) 0
Net Cash Flows Used In Financing Activities (3,591) (13,012)
Net Decrease in Cash and Cash Equivalents (2,972) (25,494)
Cash and Cash Equivalents, beginning of year 14,889 40,383
Cash and Cash Equivalents, end of year 11,917 14,889
Supplemental cash flow disclosures:    
Cash paid for interest 2,884 551
Value of common stock issued in Anthony's acquisition 0 28,965
Value of preferred stock issued in Anthony's acquisition 0 46,906
Cash paid for income taxes $ 0 $ 7