v3.10.0.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Cash flows from operating activities:    
Net income (loss) $ 677 $ (2,192)
Less: loss from discontinued operations, net of taxes of $0 (363) (291)
Income (loss) from continuing operations, net of taxes 1,040 (1,901)
Adjustments to reconcile income (loss) from continuing operations to cash provided by (used in) operating activities:    
Depreciation and amortization 731 2,288
Amortization of debt discount 18 18
Deferred tax expense 36 70
Provision for bad debt reserves 8 81
Gain on disposal of property and equipment (25) (1)
Gain on exchange offer of Series B Preferred Stock of subsidiary (Note 13) (1,659)
Issuance of common stock for services 125 103
Stock-based compensation 91 41
Changes in operating assets and liabilities of continuing operations    
Accounts receivable 1,857 246
Unbilled receivables 1,584 (845)
Prepaid expenses, inventories and other assets 773 37
Accounts payable, accrued expenses and unearned revenue (1,922) (881)
Cash provided by (used in) continuing operations 2,657 (744)
Cash used in discontinued operations (322) (284)
Cash provided by (used in) operating activities 2,335 (1,028)
Cash flows from investing activities:    
Purchases of property and equipment (554) (116)
Proceeds from sale of property and equipment 26 7
Cash (used in) provided by investing activities of continuing operations (528) (109)
Cash provided by investing activities of discontinued operations 36 34
Cash used in investing activities (492) (75)
Cash flows from financing activities:    
Repayments of revolving credit borrowings (28,048) (22,755)
Borrowing on revolving credit 28,048 18,952
Principal repayments of long term debt (615) (609)
Proceeds from issuance of common stock upon exercise of options 36
Cash used in financing activities of continuing operations (579) (4,412)
Effect of exchange rate changes on cash (12) 7
Increase (decrease) in cash and finite risk sinking fund (restricted cash) (Note 2) 1,252 (5,508)
Cash and finite risk sinking fund (restricted cash) at beginning of period (Note 2) 16,739 21,650
Cash and finite risk sinking fund (restricted cash) at end of period (Note 2) 17,991 16,142
Supplemental disclosure:    
Interest paid 115 194
Income taxes paid 160 12
Equipment purchase subject to capital lease $ 213

Source