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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Mar. 31, 2024
Dec. 31, 2023
Current assets    
Cash, cash equivalents and restricted cash equivalents $ 13,977 $ 40,560
Accounts receivable, net of allowance for doubtful accounts of $82 and $18 respectively 35,040 6,408
VAT receivable 3,959 2,926
Inventories, net 109,778 125,022
Assets held for sale 629 0
Related party asset 902 638
Prepaid expenses 6,533 4,867
Total current assets 170,818 180,421
Property, plant and equipment, net 30,673 31,258
Railcars available for lease, net 0 2,842
Right of use asset operating lease 2,724 2,826
Right of use asset finance lease 39,676 40,277
Other long-term assets 4,778 1,835
Total assets 248,669 259,459
Current liabilities    
Accounts and contractual payables 75,918 84,417
Related party accounts payable 2,394 2,478
Accrued payroll and other employee costs 4,975 5,738
Accrued warranty 1,468 1,602
Current portion of long-term debt 30,002 29,415
Other current liabilities 7,309 13,711
Total current liabilities 122,066 137,361
Warrant liability 52,454 36,801
Accrued pension costs 1,106 1,046
Lease liability operating lease, long-term 3,038 3,164
Lease liability finance lease, long-term 41,084 41,273
Other long-term liabilities 2,278 2,562
Total liabilities 222,026 222,207
Commitments and contingencies (Note 9)
Series C Preferred stock, $0.01 par value, 85,412 shares authorized, 85,412 shares issued and outstanding at each of March 31, 2024 and December 31, 2023, respectively. Liquidation value $99,285 and $95,048 at March 31, 2024 and December 31, 2023, respectively. 83,602 83,458
Stockholders' deficit    
Preferred stock, $0.01 par value, 2,500,000 shares authorized (100,000 shares each designated as Series A voting and Series B non-voting, 0 shares issued and outstanding at March 31, 2024 and December 31, 2023) 0 0
Common stock, $0.01 par value, 50,000,000 shares authorized, 18,345,488 and 17,903,437 shares issued and outstanding at March 31, 2024 and December 31, 2023, respectively 214 210
Additional paid in capital 94,783 94,067
Accumulated other comprehensive income 2,607 2,365
Accumulated deficit (154,563) (142,848)
Total stockholders' deficit (56,959) (46,206)
Total liabilities, mezzanine equity and stockholders' deficit $ 248,669 $ 259,459