Cash Flow

v3.19.3
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Operating activities:    
Net income $ 1,075 $ 222
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 3,049 2,575
Stock-based compensation 975 1,005
Loss on early debt extinguishment 437  
Amortization of discount on warrants and debt issuance costs 103 150
Deferred rent and tenant improvement allowances   306
Deferred taxes 27 (1)
Income from equity method investments   (111)
Gain on disposition of cost method investment   (185)
Changes in operating assets and liabilities:    
Accounts receivable 908 (532)
Inventory (198) 209
Other current assets (332) (301)
Due from related parties, net (291) (208)
Security deposits 1,271 (59)
Other assets (13) (213)
Accounts payable (441) 496
Accrued expenses (3,951) (423)
Operating lease liabilities and right-of-use assets 489  
Deferred revenue (130) 477
Net cash provided by operating activities 2,978 3,407
Investing activities:    
Purchase of property and equipment (3,509) (3,238)
Distribution from equity method investment   40
Proceeds from disposition of cost method investment   600
Net cash used in investing activities (3,509) (2,598)
Financing activities:    
Borrowings on revolving credit facility 4,750  
Repayments of revolving credit facility (1,000)  
Borrowings of term loan 10,000  
Repayment of term loans (4,016) (2,108)
Repayment of promissory notes (6,250)  
Repayment of due to related parties, long-term (1,197)  
Repayment of equipment financing agreement (277) (264)
Repayment of business loan and security agreement   (62)
Debt issuance costs (734)  
Issuance of common stock   1,223
Exercise of stock options 66  
Net cash provided by (used in) financing activities 1,342 (1,211)
Effect of exchange rate changes on cash (357) (178)
Net increase (decrease) in cash and cash equivalents 454 (580)
Cash and cash equivalents, beginning of year 1,592 1,548
Cash and cash equivalents, end of year 2,046 968
Supplemental disclosure of cash flow data:    
Interest paid 779 722
Income taxes paid 193 $ 458
Non-cash amortization of debt issuance costs $ 35  

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