2018 Investor Presentation

Balance Sheet

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  Year Ending Dec 2022 (Update) Year Ending Dec 2021 (Restated) Year Ending Dec 2020 (Update) Year Ending Dec 2019 (Update)
Cash & Equivalents 237.13 40.83 78.34 16.30
Short Term Investments 167.41 275.34 0.00 0.00
Cash and Short Term Investments 404.53 316.17 78.34 16.30
Accounts Receivable - Trade, Net 0.48 0.98 0.53 1.14
Total Receivables, Net 0.48 0.98 0.53 1.14
Inventories - Finished Goods 1.58 0.65 0.76 0.85
Inventories - Work In Progress 0.05 0.08 0.01 0.38
Inventories - Raw Materials 0.17 0.75 0.13 0.45
Inventories - Other 4.55 1.26 1.36 1.52
Total Inventory 6.35 2.75 2.26 3.20
Prepaid Expenses 3.03 3.61 2.15 3.59
Restricted Cash - Current 1.03 25.03 0.00 0.00
Other Current Assets 0.00 0.00 0.00 0.00
Other Current Assets, Total 1.03 25.03 0.00 0.00
Total Current Assets 415.42 348.54 83.27 24.23
Buildings - Gross 0.00 0.00 12.22 12.12
Land/Improvements - Gross 6.45 0.41 0.00 0.00
Machinery/Equipment - Gross 166.37 111.05 22.95 23.04
Construction in Progress - Gross 72.72 87.59 13.13 7.71
Other Property/Plant/Equipment - Gross 4.53 5.20 77.52 77.81
Property/Plant/Equipment, Total - Gross 250.06 204.25 125.83 120.69
Accumulated Depreciation, Total -71.64 -63.86 -59.12 -53.39
Property/Plant/Equipment, Total - Net 178.42 140.39 66.71 67.30
Intangibles - Gross 9.48 9.47 0.00 0.00
Accumulated Intangible Amortization -1.79 -0.53 0.00 0.00
Intangibles, Net 7.69 8.94 0.00 0.00
LT Investment - Affiliate Companies 0.00 0.00 1.50 1.50
LT Investments - Other 0.00 64.40 0.00 0.00
Long Term Investments 0.00 64.40 1.50 1.50
Deferred Charges 0.00 0.00 0.00 0.00
Restricted Cash - Long Term 77.22 70.17 0.00 0.00
Other Long Term Assets 21.99 12.95 0.62 0.34
Other Long Term Assets, Total 99.21 83.11 0.62 0.34
Total Assets 700.75 645.38 152.10 93.36
Accounts Payable 5.01 4.83 0.90 1.47
Accrued Expenses 20.19 24.09 3.23 4.20
Notes Payable/Short Term Debt 0.00 0.00 0.00 0.00
Current Portion of Long Term Debt/Capital Leases 0.24 0.17 0.81 14.42
Customer Advances 0.00 0.00 0.00 0.00
Income Taxes Payable 0.00 0.00 0.00 0.00
Other Current Liabilities 0.00 0.00 0.00 0.00
Other Current liabilities, Total 0.00 0.00 0.00 0.00
Total Current Liabilities 25.44 29.09 4.93 20.09
Long Term Debt 67.38 66.80 0.46 0.23
Capital Lease Obligations 0.18 0.24 0.00 0.00
Total Long Term Debt 67.57 67.05 0.46 0.23
Total Debt 67.80 67.22 1.27 14.65
Other Long Term Liabilities 2.27 1.99 0.33 0.53
Other Liabilities, Total 2.27 1.99 0.33 0.53
Total Liabilities 95.27 98.13 5.72 20.86
Redeemable Convertible Preferred Stock 0.00 0.00 0.00 0.00
Redeemable Preferred Stock, Total 0.00 0.00 0.00 0.00
Common Stock 2.37 2.02 1.28 0.14
Common Stock, Total 2.37 2.02 1.28 0.14
Additional Paid-In Capital 1,259.53 1,103.22 643.27 530.35
Retained Earnings (Accumulated Deficit) -655.38 -557.38 -498.17 -457.99
Other Comprehensive Income -1.04 -0.61 0.00 0.00
Other Equity, Total -1.04 -0.61 0.00 0.00
Total Equity 605.48 547.26 146.38 72.50
Total Liabilities & Shareholders' Equity 700.75 645.38 152.10 93.36
Shares Outstanding – Common Stock Primary Issue 237.17 201.99 128.14 14.08
Total Common Shares Outstanding 237.17 201.99 128.14 14.08
Treasury Shares – Common Primary Issue 0.00 0.00 0.00 0.00
Employees 87.00 99.00 31.00 57.00
Part-Time Employees 2.00 0.00 0.00 0.00
Number of Common Shareholders 33.00 35.00 34.00 32.00
Accumulated Intangible Amortization 1.79 0.53 0.00 0.00
Deferred Revenue - Current 0.00 0.00 0.00 0.00
Total Current Assets less Inventory 409.08 345.79 81.01 21.03
Quick Ratio 16.08 11.89 16.43 1.05
Current Ratio 16.33 11.98 16.88 1.21
Net Debt -336.73 -248.96 -77.07 -1.65
Tangible Book Value 597.79 538.32 146.38 72.50
Tangible Book Value per Share 2.52 2.67 1.14 5.15
Total Long Term Debt, Supplemental 67.54 0.00 1.27 0.75
Long Term Debt Maturing within 1 Year 0.16 0.00 0.81 0.52
Long Term Debt Maturing in Year 2 67.35 0.00 0.36 0.08
Long Term Debt Maturing in Year 3 0.03 0.00 0.07 0.06
Long Term Debt Maturing in Year 4 0.00 0.00 0.04 0.06
Long Term Debt Maturing in Year 5 0.00 0.00 0.00 0.03
Long Term Debt Maturing in 2-3 Years 67.38 0.00 0.42 0.14
Long Term Debt Maturing in 4-5 Years 0.00 0.00 0.04 0.09
Long Term Debt Maturing in Year 6 & Beyond 0.00 0.00 0.00 0.00
Interest Costs -0.47 0.00 -0.26 0.00
Total Capital Leases 0.26 0.00 0.18 0.00
Capital Lease Payments Due in Year 1 0.09 0.00 0.04 0.00
Capital Lease Payments Due in Year 2 0.03 0.00 0.03 0.00
Capital Lease Payments Due in Year 3 0.03 0.00 0.03 0.00
Capital Lease Payments Due in Year 4 0.03 0.00 0.03 0.00
Capital Lease Payments Due in Year 5 0.03 0.00 0.02 0.00
Capital Lease Payments Due in 2-3 Years 0.06 0.00 0.05 0.00
Capital Lease Payments Due in 4-5 Years 0.05 0.00 0.05 0.00
Capital Lease Payments Due in Year 6 & Beyond 0.54 0.00 0.30 0.00
Total Operating Leases 1.89 0.00 0.18 0.94
Operating Lease Payments Due in Year 1 0.53 0.00 0.18 0.68
Operating Lease Payments Due in Year 2 0.31 0.00 0.00 0.34
Operating Lease Payments Due in Year 3 0.32 0.00 0.00 0.00
Operating Lease Payments Due in Year 4 0.32 0.00 0.00 0.00
Operating Lease Payments Due in Year 5 0.33 0.00 0.00 0.00
Operating Lease Payments Due in 2-3 Years 0.62 0.00 0.00 0.34
Operating Lease Payments Due in 4-5 Years 0.66 0.00 0.00 0.00
Standardized Operating Lease Payments Due in Year 6 and Beyond 0.08 0.00 -0.01 -0.08

In millions of USD (except for per share items)

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