Quarterly report pursuant to sections 13 or 15(d)

Consolidated Statements of Cash Flows (Unaudited)

v2.4.0.8
Consolidated Statements of Cash Flows (Unaudited) (USD $)
 9 Months Ended
Sep. 30, 2013
Sep. 30, 2012
Cash flows from operating activities:    
Net loss $ (4,660,000) $ (2,547,000)
Loss on discontinued operations (224,000) (259,000)
Loss from continuing operations (4,436,000) (2,288,000)
Adjustments to reconcile net income to cash provided by operations:    
Depreciation and amortization 3,843,000 4,102,000
Amortization of debt discount 14,000 12,000
Amortization of fair value of customer contracts (1,298,000) (3,156,000)
Deferred tax benefit (2,068,000) (1,237,000)
(Benefit) provision for bad debt and other reserves (315,000) 50,000
Impairment loss on goodwill 1,149,000 0
Loss on disposal of plant, property and equipment 2,000 15,000
Foreign exchange gain 0 3,000
Issuance of common stock for services 151,000 164,000
Stock-based compensation 79,000 135,000
Changes in operating assets and liabilities of continuing operations, net of effect from business acquisitions:    
Accounts receivable (783,000) 4,061,000
Unbilled receivables 1,832,000 1,000,000
Prepaid expenses, inventories and other assets 1,552,000 3,327,000
Accounts payable, accrued expenses and unearned revenue (4,396,000) (11,599,000)
Cash used in continuing operations (4,674,000) (5,411,000)
Cash used in discontinued operations (336,000) (458,000)
Cash used in operating activities (5,010,000) (5,869,000)
Cash flows from investing activities:    
Purchases of property and equipment (373,000) (412,000)
Change in restricted cash, net 0 1,500,000
Proceeds from sale of plant, property and equipment 0 121,000
Non-controlling distribution/redemption (508,000) 0
Payment to finite risk sinking fund (27,000) (1,908,000)
Cash used in investing activities of continuing operations (908,000) (699,000)
Cash used in investing activities of discontinued operations 0 (2,000)
Cash used in investing activities (908,000) (701,000)
Cash flows from financing activities:    
Net borrowing of revolving credit 851,000 0
Principal repayments of long term debt (2,182,000) (2,831,000)
Proceeds from issuance of long-term debt 3,000,000 0
Proceeds from finite risk financing 0 565,000
Payment of finite risk financing 0 (440,000)
Cash provided by (used in) financing activities of continuing operations 1,669,000 (2,706,000)
Principal repayments of long term debt for discontinued operations (27,000) (26,000)
Cash provided by (used in) financing activities 1,642,000 (2,732,000)
Decrease in cash (4,276,000) (9,302,000)
Cash at beginning of period 4,368,000 12,055,000
Cash at end of period 92,000 2,753,000
Supplemental disclosure:    
Interest paid 540,000 717,000
Income taxes paid 110,000 470,000
Issuance of Common Stock for debt 200,000 0
Issuance of Warrants Stock for debt $ 59,000 $ 0