v3.20.2
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Sep. 30, 2020
Dec. 31, 2019
CURRENT ASSETS:    
Cash and cash equivalents $ 519 $ 33,794
Restricted cash 519 7,610
Accounts receivable (net of allowance for doubtful accounts of $9,000 and $22 as of September 30, 2020 and December 31, 2019, respectively) 36,416 79,542
Inventory, net 7,321 9,052
Prepaids and other current assets 10,443 13,332
Total current assets 55,218 143,330
Property and equipment, net 242,810 441,610
Intangible assets, net 13,708 21,826
Goodwill 4,971 4,971
Deferred financing costs, net 1,196 1,045
TOTAL ASSETS 317,903 612,782
CURRENT LIABILITIES:    
Accounts payable 35,745 70,170
Accrued expenses and other current liabilities 12,142 40,481
Notes payable 1,867 8,068
Current portion of long-term equipment financing 3,473 5,564
Capital lease obligation 6,201 10,474
Current portion of long-term debt   6,250
Total current liabilities 59,428 141,007
Long-term equipment financing 10,243 10,501
Long-term debt 250,831 274,391
Other long-term liabilities 1,598 215
TOTAL LIABILITIES 322,100 426,114
Commitments and contingencies (NOTE 16)
STOCKHOLDERS' EQUITY (DEFICIT)    
Additional paid in capital 240,547 248,302
Accumulated deficit (317,642) (111,201)
Total stockholders' equity (deficit) attributable to U.S. Well Services, Inc. (77,088) 137,107
Noncontrolling interest   10,633
Total Stockholders' Equity (Deficit) (77,088) 147,740
TOTAL LIABILITIES, MEZZANINE EQUITY AND STOCKHOLDERS' EQUITY (DEFICIT) 317,903 612,782
Series A Convertible Redeemable Preferred Stock [Member]    
MEZZANINE EQUITY    
Redeemable Convertible Preferred Stock 50,907 38,928
STOCKHOLDERS' EQUITY (DEFICIT)    
Redeemable Convertible Preferred Stock 50,907 38,928
Series B Convertible Redeemable Preferred Stock [Member]    
MEZZANINE EQUITY    
Redeemable Convertible Preferred Stock 21,984  
STOCKHOLDERS' EQUITY (DEFICIT)    
Redeemable Convertible Preferred Stock 21,984  
Common Class A [Member]    
STOCKHOLDERS' EQUITY (DEFICIT)    
Common stock 7 5
Total Stockholders' Equity (Deficit) $ 7 5
Common Class B [Member]    
STOCKHOLDERS' EQUITY (DEFICIT)    
Common stock   1
Total Stockholders' Equity (Deficit)   $ 1

Source