XML 18 R7.htm IDEA: XBRL DOCUMENT v3.24.2.u1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Nov. 26, 2023
Nov. 27, 2022
Cash flows from operating activities:    
Net income (loss) $ 3,464 $ (23,772)
Adjustments to reconcile net income (loss) to net cash used in operating activities:    
Impairment of indefinite-lived intangible assets and goodwill 0 1,300
Depreciation and amortization 4,374 7,294
Stock-based compensation expense 3,110 1,893
Deferred taxes 36 (13)
Interest expense PIK, related party 6,152 0
Change in debt derivative liability, related party (20,900) 0
Provision for expected credit losses 37 0
Net gain on disposal of property and equipment held and used 19 22
Gain on sale of divested business 0 (2,108)
Other, net 0 86
Changes in current assets and current liabilities:    
Inventories (605) (9,576)
Prepaid expenses, other current assets, and other assets 1,741 (725)
Accounts payable (4,261) 11,709
Accrued compensation (791) (4,636)
Other accrued liabilities (2,686) 2,777
Net cash used in operating activities (7,323) (3,454)
Cash flows from investing activities:    
Purchases of property and equipment (9,033) (7,209)
Proceeds from the sale of divested business, net of cash acquired 0 3,135
Net cash used in investing activities (9,033) (4,074)
Cash flows from financing activities:    
Proceeds from issuance of common stock 724 5,000
Payments on long-term debt (193) (76)
Proceeds from revolving credit facility, net 69 8,000
Principal payments on finance leases (57) 0
Taxes paid by Company for employee stock plans (57) (209)
Net cash provided by financing activities 486 12,715
Net (decrease) increase in cash (15,870) 5,187
Cash, beginning of period 19,091 1,643
Cash, end of period 3,221 6,830
Supplemental disclosure of non-cash investing and financing activities:    
Purchases of property and equipment in accounts payable 8,132 2,700
Capitalized interest expense 2,063 676
Convertible Preferred Stock PIK dividend 1,511 0
Nonrelated Party    
Changes in current assets and current liabilities:    
Accounts receivable 5,649 12,483
Deferred revenues 421 (188)
Related Party    
Changes in current assets and current liabilities:    
Accounts receivable (6,861) 0
Deferred revenues $ 3,778 $ 0