v3.19.2
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Cash flows from operating activities:    
Net (loss) income $ (444) $ 677
Less: loss from discontinued operations, net of taxes of $0 (267) (363)
(Loss) income from continuing operations, net of taxes (177) 1,040
Adjustments to reconcile (loss) income from continuing operations to cash (used in) provided by operating activities:    
Depreciation and amortization 641 731
Amortization of debt discount/debt issuance costs 67 18
Deferred tax expense 7 36
Provision for bad debt reserves 37 8
Gain on disposal of property and equipment (1) (25)
Gain on exchange offer of Series B Preferred Stock of subsidiary (1,659)
Issuance of common stock for services 122 125
Stock-based compensation 84 91
Changes in operating assets and liabilities of continuing operations    
Accounts receivable (49) 1,857
Unbilled receivables (3,053) 1,584
Prepaid expenses, inventories and other assets 281 773
Accounts payable, accrued expenses and unearned revenue 1,178 (1,922)
Cash (used in) provided by continuing operations (863) 2,657
Cash used in discontinued operations (334) (322)
Cash (used in) provided by operating activities (1,197) 2,335
Cash flows from investing activities:    
Purchases of property and equipment (312) (554)
Proceeds from sale of property and equipment 32 26
Cash used in investing activities of continuing operations (280) (528)
Cash provided by investing activities of dicontinued operations 44 36
Cash used in investing activities (236) (492)
Cash flows from financing activities:    
Repayments of revolving credit borrowings (23,816) (28,048)
Borrowing on revolving credit 23,177 28,048
Proceeds from issuance of long-term debt - related party 2,500
Proceeds from finance leases 120
Principal repayments of finance lease liabilities (101) (5)
Principal repayments of long term debt (610) (610)
Payment of debt issuance costs (90)
Proceeds from issuance of common stock upon exercise of options 36
Cash provided by (used in) financing activities of continuing operations 1,180 (579)
Effect of exchange rate changes on cash 15 (12)
Decrease (increase) in cash and finite risk sinking fund (restricted cash) (238) 1,252
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 16,543 17,991
Supplemental disclosure:    
Interest paid 184 115
Income taxes paid 121 160
Equipment purchase subject to capital lease 22 213
Issuance of Common Stock with debt 263
Issuance of Warrant with debt $ 93

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