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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Sep. 30, 2024
Dec. 31, 2023
Current assets    
Cash, cash equivalents and restricted cash equivalents $ 44,830 $ 40,560
Accounts receivable, net of allowance for credit losses of $74 and $18 respectively 24,319 6,408
VAT receivable 2,489 2,926
Inventories, net 84,812 125,022
Assets held for sale 629 0
Related party asset 936 638
Prepaid expenses 10,100 4,867
Total current assets 168,115 180,421
Property, plant and equipment, net 30,461 31,258
Railcars available for lease, net 0 2,842
Right of use asset operating lease 2,514 2,826
Right of use asset finance lease 43,823 40,277
Other long-term assets 1,036 1,835
Total assets 245,949 259,459
Current liabilities    
Accounts and contractual payables 74,355 84,417
Related party accounts payable 2,493 2,478
Accrued payroll and other employee costs 7,447 5,738
Accrued warranty 1,493 1,602
Customer deposits 8,865 0
Current portion of long-term debt 0 29,415
Other current liabilities 10,196 13,711
Total current liabilities 104,849 137,361
Warrant liability 162,382 36,801
Accrued pension costs 1,226 1,046
Lease liability operating lease, long-term 2,778 3,164
Lease liability finance lease, long-term 45,482 41,273
Other long-term liabilities 1,660 2,562
Total liabilities 318,377 222,207
Commitments and contingencies
Series C Preferred stock, $0.01 par value, 85,412 shares authorized, 85,412 shares issued and outstanding at each of September 30, 2024 and December 31, 2023, respectively. Liquidation value $108,388 and $95,048 at September 30, 2024 and December 31, 2023, respectively. 83,889 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 September 30, 2024 and December 31, 2023) 0 0
Common stock, $0.01 par value, 50,000,000 shares authorized, 18,884,838 and 17,903,437 shares issued and outstanding at September 30, 2024 and December 31, 2023, respectively 220 210
Additional paid in capital 97,098 94,067
Accumulated other comprehensive income 84 2,365
Accumulated deficit (253,719) (142,848)
Total stockholders' deficit (156,317) (46,206)
Total liabilities, mezzanine equity and stockholders' deficit $ 245,949 $ 259,459