Consolidated Statements of Cash Flows (Unaudited)
(In thousands of USD)
| For the Three-Month Period Ended
March 31st, | For the
Year ended December 31st, | |||||||||||
| 2021 | 2022 | 2021 (*) | ||||||||||
| Cash flow from operating activities: | ||||||||||||
| Net loss | (9,314 | ) | (33, 288 | ) | (200,824 | ) | ||||||
| Adjustments: | ||||||||||||
| Depreciation and amortization | 787 | 1, 141 | 7,383 | |||||||||
| Impairment losses | - | - | 140,290 | |||||||||
| Financing expenses (income), net | (708 | ) | 2, 194 | (6,873 | ) | |||||||
| Revaluation of financial liabilities accounted at fair value | 414 | ( 1 , 370 | ) | (10,608 | ) | |||||||
| Loss from disposal of property plant and equipment and right-of-use assets | 2 | (3 | ) | 567 | ||||||||
| Increase in deferred tax | - | ( 461 | ) | (5,013 | ) | |||||||
| Share-based payments | 3,435 | 10,123 | 29,782 | |||||||||
| Salary expenses paid by NCI | - | 12 2 | - | |||||||||
| 3,930 | 11,746 | 155,528 | ||||||||||
| Changes in assets and liabilities: | ||||||||||||
| Decrease (increase) in inventory | 150 | ( 468 | ) | 2,382 | ||||||||
| Decrease (increase) in other receivables | 154 | (851 | ) | (429 | ) | |||||||
| Decrease (increase) in trade receivables | (286 | ) | (2, 175 | ) | (449 | ) | ||||||
| Increase (decrease) in other payables | (649 | ) | 1, 724 | 1,139 | ||||||||
| Increase in employee benefits | - | 1,148 | - | |||||||||
| Increase in trade payables | 837 | 729 | 74 | |||||||||
| 206 | 107 | 2,717 | ||||||||||
| Net cash used in operating activities | (5,178 | ) | (21, 435 | ) | (42,579 | ) | ||||||
| Cash flow from investing activities: | ||||||||||||
| Investment in bank deposits, net | (286,065 | ) | ( 21 , 907 | ) | (416,019 | ) | ||||||
| Interest received | 432 | 762 | 3,706 | |||||||||
| Change in restricted bank deposits | 16 | 20 | (32 | ) | ||||||||
| Acquisition of property plant and equipment | (599 | ) | (1, 975 | ) | (9,761 | ) | ||||||
| Acquisition of subsidiary, net of cash acquired | - | ( 18,124 | ) | (74,574 | ) | |||||||
| Net cash used in investing activities | (286,216 | ) | (41,224 | ) | (496,680 | ) | ||||||
| Cash flow from financing activities: | ||||||||||||
| Proceeds from issuance of Ordinary Shares, warrants and convertible notes, net | 805,497 | - | 805,497 | |||||||||
| Exercise of warrants and options | 100 | - | 212 | |||||||||
| Lease payments | (304 | ) | (796 | ) | (1,494 | ) | ||||||
| Proceeds from non-controlling interests | - | - | 944 | |||||||||
| Long-term bank debt | - | (80 | ) | (814 | ) | |||||||
| Amounts recognized in respect of government grants liability, net | (72 | ) | (45 | ) | (96 | ) | ||||||
| Interest and other fees paid | (9 | ) | (28 | ) | (70 | ) | ||||||
| Net cash provided by financing activities | 805,212 | (949 | ) | 804,179 | ||||||||
| Increase in cash | 513,818 | (63, 608 | ) | 264,920 | ||||||||
| Cash at beginning of the period | 585,338 | 853,626 | 585,338 | |||||||||
| Effect of exchange rate fluctuations on cash | (99 | ) | (1, 877 | ) | 3,368 | |||||||
| Cash at end of the period | 1,099,057 | 78 8 , 141 | 853,626 | |||||||||
| Non-cash transactions: | ||||||||||||
| Property plant and equipment acquired on credit | 41 | 211 | 249 | |||||||||
| Conversion of convertible notes and warrants to equity | 2,830 | - | 2,830 | |||||||||
| Acquisition of a right-of-use asset | 1,217 | 11, 237 | 1,919 | |||||||||
