Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Cash flows from operating activities    
Net loss $ (3,224) $ (6,052)
Adjustments to reconcile net loss to cash (used in) provided by operating activities:    
Non-controlling interest (1) (16)
Inventory reserve 135 126
Stock based compensation expense 2,452 2,167
Depreciation and amortization 4,231 4,050
Right-of-use assets, non-cash lease expense 1,503 1,437
Bad debt expense 531 543
Deferred income taxes 540 653
Other non-cash items 160 (35)
Changes in:    
Accounts receivable (6,355) 2,846
Inventory (797) 1,111
Prepaid expenses and other assets 485 2,333
Deferred costs 1,397 1,624
Deferred revenue 962 (2,311)
Accounts payable and accrued expenses 2,637 (2,683)
Lease liabilities (1,453) (1,496)
Accrued severance payable, net 118
Net cash provided by operating activities 3,203 4,415
Cash flows from investing activities:    
Proceeds from sale of property and equipment 35
Capital expenditures (1,454) (822)
Net cash (used in) investing activities (1,454) (787)
Cash flows from financing activities:    
Net proceeds from stock offering 26,867 4,041
Payment of preferred stock dividends (2,056)
Repayment of long-term debt (2,671) (991)
Short-term bank debt, net 93 (357)
Proceeds from exercise of stock options, net 142 342
Purchase of treasury stock upon vesting of restricted stock (362) (248)
Net cash provided by financing activities 22,013 2,787
Effect of foreign exchange rate changes on cash and cash equivalents (2,028) (1,341)
Net (decrease) increase in cash, cash equivalents and restricted cash 21,734 5,074
Cash, cash equivalents and restricted cash - beginning of period 18,435 16,703
Cash, cash equivalents and restricted cash - end of period 40,169 21,777
Reconciliation of cash, cash equivalents, and restricted cash, beginning of period    
Cash and cash equivalents 18,127 16,395
Restricted cash 308 308
Cash, cash equivalents, and restricted cash, beginning of period 18,435 16,703
Cash and cash equivalents 39,861 21,469
Restricted cash 308 308
Cash, cash equivalents, and restricted cash, end of period 40,169 21,777
Cash paid for:    
Taxes 48 38
Interest 757 934
Noncash investing and financing activities:    
Value of shares withheld pursuant to exercise of stock options $ 647 $ 256