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v3.22.2.2

NATURE OF OPERATIONS (Tables) | 3 Months Ended
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Mar. 31, 2022
NATURE OF OPERATIONS |
Schedule of restatement of previously issued condensed consolidated financial statements | The effects of the restatement on the line items within the Company’s condensed statement of operations for the three months ended March 31, 2021 were as follows:
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended March 31, 2021
​ | ​ | As | ​ | ​ | ​ | ​ | ​
​ | ​ | Originally | ​ | ​ | ​ | As
​ |  | Reported |  | Adjustments |  | Restated
Operating expenses: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Cost of product sale | ​ | $ | 24,024 | ​ | $ | (2,023) | ​ | $ | 22,001
Income from operations | ​ | $ | 10,660 | ​ | $ | 2,023 | ​ | $ | 12,683
Income before income tax expense | ​ | $ | 10,886 | ​ | $ | 2,023 | ​ | $ | 12,909
Income tax expense | ​ | $ | (1,862) | ​ | $ | (346) | ​ | $ | (2,208)
Net income | ​ | $ | 9,024 | ​ | $ | 1,677 | ​ | $ | 10,701
Net income per share: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Basic | ​ | $ | 0.37 | ​ | $ | 0.07 | ​ | $ | 0.44
Diluted | ​ | $ | 0.37 | ​ | $ | 0.07 | ​ | $ | 0.44
​ The effects of the restatement on the line items within the Company’s condensed statement of cash flows for the three months ended March 31, 2021 were as follows:
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Three months March 31, 2021
​ | ​ | As Originally | ​ | ​ | ​ | As
​ | ​ | Reported | ​ | Adjustments | ​ | Restated
Operating activities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net income | ​ | $ | 9,024 | ​ | $ | 1,677 | ​ | $ | 10,701
Inventories | ​ | $ | (3,502) | ​ | $ | — | ​ | $ | (3,502)
Prepaid expenses and other current assets | ​ | $ | (433) | ​ | $ | 553 | ​ | $ | 120
Other assets | ​ | $ | (5) | ​ | $ | (332) | ​ | $ | (337)
Accounts payable | ​ | $ | (775) | ​ | $ | (2,023) | ​ | $ | (2,798)
Accrued liabilities | ​ | $ | (1,183) | ​ | $ | 346 | ​ | $ | (837)
Net cash provided by (used in) operating activities | ​ | $ | (1,692) | ​ | $ | 221 | ​ | $ | (1,471)
Investing activities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Purchases of property, plant and equipment | ​ | $ | (1,717) | ​ | $ | — | ​ | $ | (1,717)
Net cash used in investing activities | ​ | $ | (6,127) | ​ | $ | — | ​ | $ | (6,127)
Financing activities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Payments on lines of credit | ​ | $ | (13,208) | ​ | $ | (221) | ​ | $ | (13,429)
Net cash provided by (used in) financing activities | ​ | $ | 9,459 | ​ | $ | (221) | ​ | $ | 9,238
​
Schedule of disaggregation of revenue | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three months ended
​ | ​ | March 31,
​ | ​ | 2022 |  | 2021
Product sales: | ​ | ​ | ​ | ​ | ​ | ​
Direct sales | ​ | $ | 10,863 | ​ | $ | 3,422
Commercial sales | ​ |  | 14,059 | ​ |  | 12,318
Consignment sales | ​ | ​ | 20,040 | ​ | ​ | 10,599
Retail store sales | ​ | ​ | 4,160 | ​ | ​ | 3,321
Other (1) | ​ |  | 2,665 | ​ |  | 2,614
Total product sales | ​ |  | 51,787 | ​ |  | 32,274
Consumer and MHP loans interest: | ​ |  |  | ​ |  |
Interest - consumer installment notes | ​ |  | 4,457 | ​ |  | 4,143
Interest - MHP notes | ​ |  | 2,308 | ​ |  | 2,495
Total consumer and MHP loans interest | ​ |  | 6,765 | ​ |  | 6,638
Other | ​ |  | 1,376 | ​ |  | 1,028
Total net revenue | ​ | $ | 59,928 | ​ | $ | 39,940
| (1) | Other product sales revenue from ancillary products and services including parts, freight and other services
Schedule of future minimum lease income | ​
​ | ​ | ​ | ​
2022 |  | $ | 1,563
2023 | ​ |  | 2,091
2024 | ​ |  | 2,091
2025 | ​ |  | 2,091
2026 | ​ |  | 2,091
Thereafter | ​ |  | 4,685
Total | ​ | $ | 14,612

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