General form of registration statement for all companies including face-amount certificate companies

Schedule I – Parent Company Financial Information (Tables)

v3.21.2
Schedule I – Parent Company Financial Information (Tables) - Parent Company [Member]
 12 Months Ended
Dec. 31, 2020
Summary of Condensed Balance Sheets
The following presents condensed parent company only financial information of Maple Holdings Inc.
Condensed Balance Sheets (in thousands USD, except share and per share amounts)
 
    
December 31,
2020
    
December 31,
2019
  
Assets
                 
Non-current
assets
                 
Investment in subsidiaries
    $ 300,055     $ 324,694  
    
 
 
    
 
 
  
Total
non-current
assets
      300,055       324,694  
    
 
 
    
 
 
  
Total assets
   
$
300,055
 
  
$
324,694
 
    
 
 
    
 
 
  
Liabilities, temporary equity and stockholders’ equity
                 
Long-term liabilities
                 
Warrant liability
    $ 15,944     $ 8,459  
    
 
 
    
 
 
  
Total liabilities
   
 
15,944
 
  
 
8,459
 
    
 
 
    
 
 
  
Temporary equity
                 
Series A Preferred Stock; par value $1,000 per share; 7,765,229 shares authorized; 7,756,158 and 6,836,003 shares issued and outstanding at December 31, 2020 and 2019
      77,562       68,360  
Series
A-1
Preferred Stock; par value $1,000 per share; 10,480,538 shares authorized; 7,862,107 and 6,949,524 shares issued and outstanding at December 31, 2020 and 2019
      78,621       69,495  
Series B Preferred Stock; par value $1,000 per share; 9,090,975 shares authorized; 9,090,975 and 8,233,774 shares issued and outstanding at December 31, 2020 and 2019
      90,910       82,338  
Series C Convertible Preferred Stock; par value $1,000 per share; 6,872,894 shares authorized; 2,566,186 shares issued and outstanding at December 31, 2020 and 2019
      16,802       16,802  
    
 
 
    
 
 
  
Total temporary equity
   
 
263,895
 
  
 
236,995
 
    
 
 
    
 
 
  
Stockholders’ equity
                 
Common stock, voting; par value $.0001 per share; 55,659,643 shares authorized; 30,281,520 and 30,309,350 shares issued and outstanding at December 31, 2020 and 2019, respectively
      3       3  
Additional
paid-in
capital
      135,616       161,555  
Accumulated other comprehensive loss
      (1,677 )      (3,793 ) 
Accumulated deficit
      (113,726 )      (78,525 ) 
    
 
 
    
 
 
  
Total stockholders’ equity
   
 
20,216
 
  
 
79,240
 
    
 
 
    
 
 
  
Total liabilities, temporary equity and stockholders’ equity
   
$
300,055
 
  
$
324,694
 
    
 
 
    
 
 
  
Summary of Condensed Statements of Loss and Comprehensive Loss
Condensed Statements of Loss and Comprehensive Loss (in thousands USD)
 
For the years ended
   
December 31,
2020
    
December 31,
2019
  
Equity in net loss of subsidiaries
    $ (27,716 )    $ (23,678 ) 
Change in fair value of warrant liability
      (7,485 )      235  
    
 
 
    
 
 
  
Loss before income taxes
   
 
(35,201
) 
  
 
(23,443
) 
Income tax provision (benefit)
      —         —    
    
 
 
    
 
 
  
Net loss
   
$
(35,201
) 
  
$
(23,443
) 
    
 
 
    
 
 
  
Other comprehensive loss:
                 
Foreign currency translation adjustment
      2,116       517  
    
 
 
    
 
 
  
Comprehensive loss
   
$
(33,085
) 
  
$
(22,926
) 
    
 
 
    
 
 
  
Summary of Condensed Statements of Cash Flows
Condensed Statements of Cash Flows (in thousands USD)
 
For the years ended
   
December 31,
2020
    
December 31,
2019
  
Cash flows from operating activities
                 
Net loss
    $ (35,201 )    $ (23,443 ) 
Adjustments to reconcile net loss to net cash provided by operating activities
                 
Equity in net loss of subsidiaries
      27,716       23,678  
Change in fair value of warrant liability
      7,485       (235 ) 
    
 
 
    
 
 
  
Cash provided by operating activities
      —         —    
    
 
 
    
 
 
  
Cash flows from investing activities
                 
Distribution from subsidiary
      200       80  
    
 
 
    
 
 
  
Cash provided by investing activities
   
 
200
 
  
 
80
 
Cash flows from financing activities
                 
Repurchase of common stock
      (200 )      (80 ) 
    
 
 
    
 
 
  
Cash used in financing activities
   
 
(200
) 
  
 
(80
) 
Effect of exchange rate change on cash and cash equivalents
      —         —    
    
 
 
    
 
 
  
Change in cash and cash equivalents and restricted cash
      —         —    
Cash and cash equivalents and restricted cash, beginning of year
      —         —    
    
 
 
    
 
 
  
Cash and cash equivalents and restricted cash, end of year
   
$
—  
 
  
$
—  
 
    
 
 
    
 
 
  
Non-cash investing and financing activities:
                 
Equity issued for acquisition of Integron, LLC
    $ —       $ 7,000  
Share-based payment awards issued to employees of subsidiaries
    $ 1,161     $ 1,682