iAnthus Capital Holdings, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Unaudited Interim Condensed Consolidated Statements of Cash Flows Supplemental Information

Unaudited Interim Condensed Consolidated Statements of Cash Flows Supplemental Information

3 Months Ended

Mar. 31, 2022

Supplemental Cash Flow Elements [Abstract]

Unaudited Interim Condensed Consolidated Statements of Cash Flows Supplemental Information

Note 13 – Unaudited Interim Condensed Consolidated Statements of Cash Flows Supplemental Information

(a) Cash payments made on account of:

	For the Three Months Ended March 31,
	2022		2021
Income taxes	$	98	$	657
Interest		23		24

(b) Changes in other

non-cash

operating assets and liabilities are comprised of the following:


	For the Three Months Ended March 31,
	2022			2021
Decrease (increase) in:
Accounts receivables	$	(81)		$	(1,009	)
Prepaid expenses		(1,809	)		(1,028	)
Inventories		(3,258	)		(723	)
Other current assets		201			(1,374	)
Other long-term assets		(13	)		647
Operating leases		(313	)		(203	)
Increase in:
Accounts payable		3,561			1,599
Accrued and other current liabilities		6,359			6,883

	$	4,647		$	4,792

	For the Three Months Ended March 31,
	2022		2021
Property, plant and equipment	$	4,396	$	2,977
Operating lease right-of-use assets		623		542
Intangible assets		4,010		3,855

	$	9,029	$	7,374

(d) Write-downs and other charges are comprised of the following:

	For the Three Months Ended March 31,
	2022			2021
Write-downs :
Account receivable recoveries	$	(12	)	$	—
Operating lease right-of-use assets		—			259
Property, plant and equipment		69			—

	$	57		$	259

(e) Significant

non-cash

investing and financing activities are as follows:

	For the Three Months Ended March 31,
	2022		2021
Supplemental Cash Flow Information:
Non-cash consideration for paid-in-kind interest		767		554
Non-cash consideration for asset acquisition		19,193		—

Cash and Restricted Cash

For purposes of the unaudited interim condensed consolidated balance sheets and the statements of cash flows, cash and restricted cash are held primarily in U.S. dollars.

Restricted cash balances are those which meet the definition of cash and cash equivalents but are not available for use by the Company. As of March 31, 2022, the Company held $2.6 million as restricted cash (December 31, 2021—$3.3 million), which is mainly related to funds held in escrow from the Senior Secured Bridge Notes. The net proceeds from the Senior Secured Bridge Notes were placed in escrow, and the availability of the funds is subject to drawdown requests that must be approved by the Secured Lenders.

The following table provides a reconciliation of cash and restricted cash reported on the unaudited interim condensed consolidated balance sheets to such amounts presented in the statements of cash flows:


	March 31, 2022		December 31, 2021
Cash	$	14,078	$	13,244
Restricted cash		2,641		3,334

Total cash and restricted cash presented in the statements of cash flows	$	16,719	$	16,578