Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.19.3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Cash flows from operating activities: (net of assets acquired)    
Net loss $ (6,878,000) $ (3,003,000)
Adjustments to reconcile net loss to cash used in operating activities:    
Bad debt expense 155,000 15,000
Stock-based compensation expense 1,732,000 1,658,000
Depreciation and amortization 1,299,000 1,174,000
Inventory reserve 156,000 260,000
Change in contingent consideration 54,000 146,000
Other non-cash items (37,000) 93,000
Changes in:    
Accounts receivable (4,537,000) (835,000)
Financing receivables 368,000 511,000
Inventory (5,069,000) 372,000
Prepaid expenses and other assets 386,000 (1,152,000)
Deferred costs (266,000) (17,000)
Deferred revenue 26,000 (567,000)
Accounts payable and accrued expenses 8,306,000 1,168,000
Net cash used in operating activities (4,305,000) (177,000)
Cash flows from investing activities:    
Acquisitions (4,350,000)
Capital expenditures (501,000) (155,000)
Purchase of investments (99,000) (2,415,000)
Proceeds from the sale and maturities of investments 4,638,000 9,308,000
Net cash provided by (used in) investing activities (312,000) 6,738,000
Cash flows from financing activities:    
Proceeds from exercise of stock options 177,000 361,000
Shares repurchased pursuant to vesting of restricted stock (291,000) (621,000)
Net cash used in financing activities (114,000) (260,000)
Effect of foreign exchange rate changes on cash and cash equivalents 132,000 130,000
Net increase (decrease) in cash, cash equivalents and restricted cash (4,599,000) 6,431,000
Cash, cash equivalents and restricted cash - beginning of period 10,466,000 5,403,000
Cash, cash equivalents and restricted cash - end of period 5,867,000 11,834,000
Reconciliation of cash, cash equivalents, and restricted cash, beginning of period    
Cash and cash equivalents 10,159,000 5,097,000
Restricted cash 307,000 306,000
Cash, cash equivalents, and restricted cash, beginning of period 10,466,000 5,403,000
Cash and cash equivalents 5,560,000 11,528,000
Restricted cash 307,000 306,000
Cash, cash equivalents, and restricted cash, end of beginning of period 5,867,000 11,834,000
Cash paid for:    
Taxes
Interest 56,000
Noncash investing and financing activities:    
Unrealized (loss) gain on investments 47,000 16,000
Value of shares withheld pursuant to stock issuance 249,000
Value of shares issued relating to acquisition contingent consideration 2,000,000
Value of shares issued relating to Keytroller acquisition consideration 1,000,000
Value of shares issued pursuant to CarrierWeb Ireland acquisition 156,000
CarrierWeb Ireland acquisition related holdback $ 250,000