The Real Good Food Company, Inc.

RGF

RGFThe Real Good Food Company, Inc. US flag

NASDAQ Global Market

1.25

USD

+1.25

- -

2.18MMarket Cap

Income Statement (USD)

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	2019 Y	2020 Y	2021 Y	2022 Y
Sales/Revenue/Turnover	39	39	84	142
+ Sales & Services Revenue	39	39	84	142
- Cost of Revenue	33	36	74	128
+ Cost of Goods & Services	33	36	74	128
Gross Profit	6	3	10	13
+ Other Operating Income	- -	- -	- -	- -
- Operating Expenses	15	13	63	52
+ Selling, General & Admin	15	13	63	52
+ Research & Development	- -	- -	- -	- -
+ Other Operating Expense	- -	- -	- -	- -
Operating Income (Loss)	-9	-10	-53	-38
- Non-Operating (Income) Loss	5	6	14	7
+ Interest Expense, Net	5	6	5	7
+ Interest Expense	5	6	5	7
- Interest Income	- -	- -	- -	- -
+ Other Non-Op (Income) Loss	- -	- -	9	- -
Pretax Income	-14	-16	-67	-46
- Income Tax Expense (Benefit)	- -	- -	- -	- -
- (Income) Loss from Affiliates	- -	- -	- -	- -
Income (Loss) from Cont Ops	-14	-16	-67	-46
- Net Extraordinary Losses (Gains)	- -	- -	-64	-69
+ Discontinued Operations	- -	- -	- -	- -
+ Extraord. & Accounting Changes	- -	- -	-64	-69
Income (Loss) Incl. MI	-14	-16	-3	24
- Minority Interest	- -	- -	32	35
Net Income, GAAP	-14	-16	-35	-11
- Preferred Dividends	- -	1	- -	- -
- Other Adjustments	- -	- -	- -	- -
Net Income Avail to Common, GAAP	-15	-16	-35	-11
EBIT	-9	-10	-53	-38
EBITDA	-8	-9	-52	-35
EBITDA Margin (%)	-21.27	-23.77	-61.81	-24.85
EBITA	-9	-10	-53	-38
Gross Margin (%)	15.03	6.87	12.24	9.36
Operating Margin (%)	-22.6	-25.29	-63.16	-27.11
Profit Margin (%)	-36.62	-39.92	-41.6	-7.76
Sales per Employee	- -	- -	- -	- -
Dividend per Share	- -	- -	- -	- -
Depreciation Expense	1	1	1	3
Basic Weighted Avg Shares	6	6	6	6
Basic EPS, GAAP	-2.37	-2.61	-5.67	-1.77
Basic EPS from Cont Ops	-2.3	-2.52	-10.87	-7.37
Diluted Weighted Avg Shares	6	6	6	6
Diluted EPS, GAAP	-2.37	-2.61	-5.67	-1.77
Diluted EPS from Cont Ops	-2.3	-2.52	-10.87	-7.37

Balance Sheet (USD)

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	2019 Y	2020 Y	2021 Y	2022 Y
Total Current Assets	12	12	63	66
+ Cash, Cash Equivalents & STI	- -	- -	27	5
+ Cash & Cash Equivalents	- -	- -	27	5
+ ST Investments	- -	- -	- -	- -
+ Accounts & Notes Receiv	3	4	9	20
+ Accounts Receivable, Net	3	4	9	20
+ Notes Receivable, Net	- -	- -	- -	- -
+ Loans Receivable, Net	- -	- -	- -	- -
+ Other Receivable, Net	- -	- -	- -	- -
+ Inventories	9	8	17	39
+ Raw Materials	2	2	7	17
+ Work In Process	- -	- -	- -	- -
+ Finished Goods	7	6	10	23
+ Inventory Adjustments	- -	- -	- -	- -
+ Other Inventory	- -	- -	- -	- -
+ Other ST Assets	- -	- -	10	1
+ Misc ST Assets	- -	- -	- -	- -
+ Prepaid Expenses	- -	- -	- -	- -
+ ST Derivative & Hedging Assets	- -	- -	- -	- -
+ ST Assets Held-for-Sale	- -	- -	- -	- -
+ ST Deferred Tax Assets	- -	- -	- -	- -
Total Noncurrent Assets	3	3	39	65
+ Property, Plant & Equip, Net	2	2	22	49
+ Property, Plant & Equip	3	3	25	55
- Accumulated Depreciation	1	1	3	6
+ LT Investments & Receivables	- -	- -	- -	- -
+ LT Investments	- -	- -	- -	- -
+ LT Receivables	- -	- -	- -	- -
+ Other LT Assets	1	2	17	16
+ Total Intangible Assets	- -	- -	12	12
+ Goodwill	- -	- -	12	12
+ Other Intangible Assets	- -	- -	- -	- -
+ LT Deferred Tax Assets	- -	- -	- -	- -
+ LT Derivative & Hedging Assets	- -	- -	- -	- -
+ Misc LT Assets	1	2	4	3
Total Assets	15	15	102	131
+ Payables & Accruals	3	5	22	27
+ Accounts Payable	3	5	15	23
+ Accrued Taxes	- -	- -	- -	- -
+ Interest & Dividends Payable	- -	- -	- -	- -
+ Other Payables & Accruals	1	1	7	4
+ ST Debt	2	3	2	5
+ ST Borrowings	1	3	- -	- -
+ ST Finance Leases	- -	- -	1	5
+ Other ST Liabilities	- -	- -	8	1
+ Deferred Revenue	- -	- -	- -	- -
+ Derivatives & Hedging	- -	- -	- -	- -
+ Deferred Tax Liabilities	- -	- -	- -	- -
+ Misc ST Liabilities	- -	- -	8	1
Total Current Liabilities	5	9	32	33
+ LT Debt	25	37	36	104
+ LT Borrowings	25	37	25	69
+ LT Finance Leases	- -	- -	11	34
+ Other LT Liabilities	- -	- -	3	3
+ Accrued Liabilities	- -	- -	- -	- -
+ Pension Liabilities	- -	- -	- -	- -
+ Deferred Revenue	- -	- -	- -	- -
+ Deferred Tax Liabilities	- -	- -	- -	- -
+ Derivatives & Hedging	- -	- -	- -	- -
+ Misc LT Liabilities	- -	- -	3	3
Total Noncurrent Liabilities	25	37	40	106
Total Liabilities	30	46	71	140
+ Preferred Equity and Hybrid Capital	8	- -	- -	- -
+ Share Capital & APIC	1	- -	50	56
+ Common Stock	1	- -	- -	- -
+ Additional Paid in Capital	- -	- -	50	56
- Treasury Stock	- -	- -	- -	- -
+ Retained Earnings	-24	-39	-10	-21
+ Other Equity	- -	- -	- -	- -
Equity Before Minority Interest	-15	-30	40	35
+ Minority/Non Controlling Interest	- -	- -	-9	-43
Total Equity	-15	-30	31	-8
Total Liabilities & Equity	15	15	102	131
Shares Outstanding	6	6	6	6
Number of Employees	- -	- -	- -	- -
Capital Leases - Total	- -	- -	13	39
Net Debt	26	40	-2	65
Net Debt to Equity	-173.85	-132.1	-7.58	-796.99
Tangible Common Equity Ratio	-149.04	-195	20.63	-17.31
Current Ratio	2.38	1.4	1.99	1.99
Cash Conversion Cycle	- -	77.2	44.41	70.9

Cash Flow Statement (USD)

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	2019 Y	2020 Y	2021 Y	2022 Y
+ Net Income	-14	-16	-67	-46
+ Depreciation & Amortization	1	1	1	3
+ Non-Cash Items	5	5	43	10
+ Stock-Based Compensation	- -	- -	29	7
+ Deferred Income Taxes	- -	- -	- -	- -
+ Asset Impairment Charge	- -	- -	- -	- -
+ Other Non-Cash Adj	5	5	14	4
+ Chg in Non-Cash Work Cap	-2	2	-3	-25
+ (Inc) Dec in Accts Receiv	1	-1	-6	-11
+ (Inc) Dec in Inventories	-3	1	-8	-23
+ (Inc) Dec in Prepaid Assets	- -	- -	- -	- -
+ Inc (Dec) in Accts Payable	-1	2	12	8
+ Inc (Dec) in Other	- -	- -	-2	1
+ Net Cash From Disc Ops	- -	- -	- -	- -
Cash from Operating Activities	-11	-8	-27	-57
+ Change in Fixed & Intang	- -	- -	- -	- -
+ Disp in Fixed & Intang	- -	- -	- -	- -
+ Disp of Fixed Prod Assets	- -	- -	- -	- -
+ Disp of Intangible Assets	- -	- -	- -	- -
+ Acq of Fixed & Intang	- -	- -	-3	-4
+ Acq of Fixed Prod Assets	- -	- -	-3	-4
+ Acq of Intangible Assets	- -	- -	- -	- -
+ Cash (Repurchase) of Equity	- -	- -	56	- -
+ Increase in Capital Stock	- -	- -	56	- -
+ Decrease in Capital Stock	- -	- -	- -	- -
+ Net Change in LT Investment	- -	- -	- -	- -
+ Dec in LT Investment	- -	- -	- -	- -
+ Inc in LT Investment	- -	- -	- -	- -
+ Net Cash From Acq & Div	- -	- -	-2	- -
+ Cash from Divestitures	- -	- -	- -	- -
+ Cash for Acq of Subs	- -	- -	-2	- -
+ Cash for JVs	- -	- -	- -	- -
+ Other Investing Activities	- -	- -	- -	- -
+ Net Cash From Disc Ops	- -	- -	- -	- -
Cash from Investing Activities	- -	- -	-5	-4
+ Dividends Paid	- -	- -	- -	- -
+ Net Cash From Debt	4	15	-16	46
+ Cash From Debt	12	16	74	53
+ Repayments of Debt	-8	-1	-90	-7
+ Other Financing Activities	7	-8	22	-7
+ Net Cash From Disc Ops	- -	- -	- -	- -
Cash from Financing Activities	12	8	61	39
Effect of Foreign Exchange Rates	- -	- -	- -	- -
Net Changes in Cash	- -	- -	30	-22
EBITDA	-8	-9	-52	-35
EBITDA Margin (%)	-21.27	-23.77	-61.81	-24.85
Free Cash Flow	-11	-8	-29	-61
Net Cash Paid for Acquisitions	- -	- -	2	- -
Free Cash Flow to Firm	- -	- -	- -	- -
Free Cash Flow to Equity	- -	-1	-46	-15
Free Cash Flow per Basic Share	-1.85	-1.28	-4.75	-9.85
Price/Free Cash Flow	- -	- -	-18.89	-9.2
Cash Flow to Net Income	0.77	0.5	0.76	5.22
Capital Expenditures	- -	- -	-3	-4