v3.24.3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash flows from operating activities:    
Net (loss) income $ (16,490,000) $ 404,000
Less: Loss from discontinued operations, net of taxes (Note 10) (441,000) (44,000)
(Loss) income from continuing operations, net of taxes (16,049,000) 448,000
Adjustments to reconcile (loss) income from continuing operations to cash used in operating activities:    
Depreciation and amortization 1,295,000 2,124,000
Amortization of debt issuance costs 47,000 80,000
Deferred tax expense 4,300,000 482,000
(Recovery of) provision for credit losses on accounts receivable (9,000) 56,000
Loss on disposal of property and equipment 1,000
Issuance of Common Stock for services 361,000 356,000
Stock-based compensation 466,000 392,000
Changes in operating assets and liabilities of continuing operations    
Accounts receivable 990,000 (6,034,000)
Unbilled receivables 1,155,000 (3,274,000)
Prepaid expenses, inventories and other assets 2,277,000 3,696,000
Accounts payable, accrued expenses and unearned revenue (5,805,000) 2,175,000
Cash (used in) provided by continuing operations (10,971,000) 501,000
Cash used in discontinued operations (468,000) (478,000)
Cash used in operating activities (11,439,000) 23,000
Cash flows from investing activities:    
Purchases of property and equipment (2,224,000) (1,386,000)
Addition to permits and other intangible assets (577,000) (49,000)
Proceeds from sale of property and equipment 1,000
Cash used in continuing operations (2,800,000) (1,435,000)
Cash used in discontinued operations (49,000)
Cash used in investing activities (2,849,000) (1,435,000)
Cash flows from financing activities:    
Repayments of revolving credit borrowings (78,313,000) (63,295,000)
Borrowing on revolving credit 78,313,000 63,295,000
Proceeds from long term debt 2,500,000
Proceeds from sale of Common Stock, net of offering costs paid (Note 14) 18,495,000
Principal repayments of finance lease liabilities (218,000) (135,000)
Principal repayments of long term debt (675,000) (450,000)
Payment of debt issuance costs (61,000) (175,000)
Proceeds from issuance of Common Stock upon exercise of options/warrant 264,000 150,000
Cash provided by financing activities of continuing operations 17,805,000 1,890,000
Effect of exchange rate changes on cash 1,000
Increase in cash and finite risk sinking fund (restricted cash) 3,518,000 478,000
Cash and finite risk sinking fund (restricted cash) at beginning of period 19,574,000 13,436,000
Cash and finite risk sinking fund (restricted cash) at end of period 23,092,000 13,914,000
Supplemental disclosure:    
Interest paid 349,000 172,000
Income taxes paid 50,000
Non-cash financing activities:    
Equipment/property purchase subject to finance $ 406,000 $ 309,000

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