v3.19.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Cash flows from operating activities:    
Net (loss) income $ (702) $ 96
Less: loss from discontinued operations, net of taxes of $0 (152) (157)
(Loss) income from continuing operations, net of taxes (550) 253
Adjustments to reconcile (loss) income from continuing operations to cash provided by operating activities :    
Depreciation and amortization 323 372
Amortization of debt issuance costs 8 8
Deferred tax expense 18 22
Provision for bad debt reserves 31 13
Gain on disposal of plant, property, and equipment (8)
Issuance of common stock for services 60 60
Stock-based compensation 48 46
Changes in operating assets and liabilities of continuing operations    
Accounts receivable 363 3,165
Unbilled receivables (211) 65
Prepaid expenses, inventories and other assets (132) 348
Accounts payable, accrued expenses and unearned revenue (105) (1,729)
Cash (used in) provided by continuing operations (147) 2,615
Cash used in discontinued operations (182) (181)
Cash (used in) provided by operating activities (329) 2,434
Cash flows from investing activities:    
Purchases of property and equipment (224) (248)
Proceeds from sale of plant, property, and equipment 1 8
Cash used in investing activities of continuing operations (223) (240)
Cash provided by investing activities of discontinued operations 25 17
Cash used in investing activities (198) (223)
Cash flows from financing activities:    
Repayments of revolving credit borrowings (11,161) (14,033)
Borrowing on revolving credit 11,526 14,033
Proceeds from finance leases 120
Principal repayments of finance lease liabilities (44)
Principal repayments of long term debt (304) (304)
Cash provided by (used in) financing activities 137 (304)
Effect of exchange rate changes on cash 6 (4)
(Decrease) increase in cash and finite risk sinking fund (restricted cash) (384) 1,903
Cash and finite risk sinking fund (restricted cash) at beginning of period 16,781 16,739
Cash and finite risk sinking fund (restricted cash) at end of period 16,397 18,642
Supplemental disclosure:    
Interest paid 88 54
Income taxes paid 96 96
Non-cash investing and financing activities:    
Equipment purchase subject to capital lease $ 4

Source