v3.20.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Cash flows from operating activities:    
Net income (loss) $ 1,194 $ (702)
Less: loss from discontinued operations, net of taxes of $0 (114) (152)
Income (loss) income from continuing operations, net of taxes 1,308 (550)
Adjustments to reconcile income (loss) from continuing operations to cash provided by operating activities :    
Depreciation and amortization 346 323
Interest on finance lease with purchase option 2
Amortization of debt issuance/debt discount costs 68 8
Deferred tax expense 3 18
(Recovery of) provision for bad debt reserves (60) 31
Loss on disposal of plant, property, and equipment 31
Issuance of common stock for services 48 60
Stock-based compensation 44 48
Changes in operating assets and liabilities of continuing operations:    
Accounts receivable 3,012 363
Unbilled receivables (2,204) (211)
Prepaid expenses, inventories and other assets (449) (132)
Accounts payable, accrued expenses and unearned revenue 1,275 (105)
Cash provided by (used in) continuing operations 3,424 (147)
Cash used in discontinued operations (151) (182)
Cash provided by (used in) operating activities 3,273 (329)
Cash flows from investing activities:    
Purchases of property and equipment [1] (896) (224)
Proceeds from sale of plant, property, and equipment 1 1
Cash used in investing activities of continuing operations (895) (223)
Cash provided by investing activities of discontinued operations 13 25
Cash used in investing activities (882) (198)
Cash flows from financing activities:    
Repayments of revolving credit borrowings (24,204) (11,161)
Borrowing on revolving credit 23,883 11,526
Proceeds from finance leases 120
Proceeds from issuance of common stock upon exercise of option 6
Principal repayments of finance lease liabilities (101) (44)
Principal repayments of long term debt (418) (304)
Cash (used in) provided by financing activities (834) 137
Effect of exchange rate changes on cash (32) 6
Increase (decrease) in cash and finite risk sinking fund (restricted cash) 1,525 (384)
Cash and finite risk sinking fund (restricted cash) at beginning of period 11,697 16,781
Cash and finite risk sinking fund (restricted cash) at end of period 13,222 16,397
Supplemental disclosure:    
Interest paid 112 88
Income taxes paid 30 96
Non-cash investing and financing activities:    
Equipment purchase subject to finance lease $ 82 $ 4
[1] Net of financed amount of $82,000 and $4,000 for the three month ended March 31, 2020 and 2019, respectively.

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