Post-effective amendment to a registration statement that is not immediately effective upon filing

CONSOLIDATED STATEMENTS OF CASH FLOWS

v3.21.2
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
 12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Adjustments to reconcile net loss to net cash used in operating activities:      
Share-based compensation expense $ 2,643,000 $ 1,879,000 $ 871,000
Changes in operating assets and liabilities:      
Net cash used in operating activities 20,400,000    
Cash flows from financing activities:      
Cash, cash equivalents and restricted cash, beginning of year 3,013 7,003  
Cash, cash equivalents and restricted cash, end of year 18,618 3,013 7,003
Supplemental disclosure of non-cash financing activity:      
Conversion of debt to preferred stock    
Airspan [Member]      
Cash flows from operating activities:      
Net Income (25,643,000) (51,981,000) (35,292,000)
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation and amortization 4,640,000 4,458,000 2,994,000
Foreign exchange loss (gain) on long-term debt 26,000 (4,000) (15,000)
Share-based compensation expense 2,643,000 1,879,000 871,000
Loss on disposal of property, plant and equipment 3,000 17,000 0
Bad debt expense 5,000 62,000 752,000
Total adjustments 7,317,000 6,412,000 4,602,000
Changes in operating assets and liabilities:      
Decrease (increase) in accounts receivable (31,345,000) (11,632,000) 748,000
Decrease in inventory 5,123,000 7,891,000 2,851,000
Decrease in prepaid expenses and other current assets 483,000 16,991,000 5,329,000
(Decrease) increase in accounts payable 12,012,000 (3,111,000) 895,000
(Decrease) increase in deferred revenue (2,514,000) 5,253,000 (29,117,000)
(Decrease) increase in other accrued expenses 5,104,000 894,000 (1,289,000)
Decrease (increase) in other operating assets (380,000) (261,000) 377,000
(Decrease) increase in other long-term liabilities 5,889,000 (1,392,000) 1,759,000
Accrued interest on long-term debt 3,587,000 2,706,000 450,000
Net cash used in operating activities (20,367,000) (28,230,000) (48,687,000)
Cash flows from investing activities:      
Purchase of property, plant and equipment (2,226,000) (2,673,000) (1,912,000)
Acquisition of business, net of cash acquired (841,000)
Net cash used in investing activities (2,226,000) (2,673,000) (2,753,000)
Cash flows from financing activities:      
(Repayments of) borrowings under line of credit, net (1,993,000) (3,867,000) 9,310,000
Borrowings under (repayments of) subordinated convertible debt 0 23,000,000 (412,000)
Borrowings under senior term loan 6,005,000 0 0
Borrowings under other long-term debt 2,073,000 0 0
Proceeds from the sale of Series F and F-1 stock, net 0 7,780,000 34,876,000
Proceeds from the sale of Series G stock, net 21,913,000 0 0
Proceeds from the sale of Series H stock, net 8,074,000 0 0
Proceeds from the issuance of Series H warrants 2,126,000 0 0
Net cash provided by financing activities 38,198,000 26,913,000 43,774,000
Net increase (decrease) in cash, cash equivalents and restricted cash 15,605,000 (3,990,000) (7,666,000)
Cash, cash equivalents and restricted cash, beginning of year 3,013,000 7,003,000 14,669,000
Cash, cash equivalents and restricted cash, end of year 18,618,000 3,013,000 7,003,000
Supplemental disclosures of cash flow information      
Cash paid for interest 6,363,000 5,761,000 2,902,000
Cash received from R&D tax credit refunds, net of cash paid for income taxes 241,000 446,000 127,000
Operating cash flows from operating leases 2,857,000 2,511,000 0
Right-of-use assets obtained in exchange for operating lease obligations 0 2,775,000 0
Payment of merger consideration by issuing Class B common stock with a fair value 0 0 6,663,000
Payment of merger consideration utilizing line of credit 0 0 15,000,000
Payment of merger consideration by issuing replacement stock options with a fair value 0 0 227,000
Supplemental disclosure of non-cash financing activity:      
Issuance of preferred stock upon conversion of debt 23,571,000 0 0
Conversion of debt to preferred stock (23,571,000)    
Issuance of Class B common stock at fair value in connection with the Mimosa acquisition 0 0 6,663,000
Assignment of line of credit to new lender under Senior term loan $ 32,940,000 $ 0 $ 0