Workhorse Group Inc.
Condensed Consolidated Balance Sheets
| March 31, 2022 | December 31, 2021 | ||||
| (Unaudited) | |||||
| Assets | |||||
| Current assets: | |||||
| Cash and cash equivalents | $ | 167,047,876 | $ | 201,647,394 | |
| Accounts and lease receivable | 51,429 | 149,776 | |||
| Inventory, net | 12,677,469 | 10,067,367 | |||
| Prepaid expenses and other current assets | 8,872,177 | 4,357,829 | |||
| Total current assets | 188,648,951 | 216,222,366 | |||
| Property, plant and equipment, net | 10,738,355 | 7,897,807 | |||
| Lease right-of-use assets | 10,012,515 | 1,538,852 | |||
| Other assets | 126,310 | 2,479,865 | |||
| Total Assets | $ | 209,526,131 | $ | 228,138,890 | |
| Liabilities | |||||
| Current liabilities: | |||||
| Accounts payable | $ | 6,258,630 | $ | 7,849,607 | |
| Accrued liabilities and other | 9,945,712 | 14,752,827 | |||
| Warranty liability | 4,315,463 | 4,583,916 | |||
| Current portion of lease liabilities | 975,466 | 363,714 | |||
| Total current liabilities | 21,495,271 | 27,550,064 | |||
| Lease liabilities, long-term | 6,763,734 | 1,191,053 | |||
| Convertible notes, at fair value | 25,072,357 | 24,705,000 | |||
| Total Liabilities | 53,331,362 | 53,446,117 | |||
| Stockholders' equity | 156,194,769 | 174,692,773 | |||
| Total Liabilities and Stockholders' Equity | $ | 209,526,131 | $ | 228,138,890 | |
