Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.19.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Cash flows from operating activities: (net of assets acquired)    
Net loss $ (2,194,000) $ (990,000)
Adjustments to reconcile net loss to cash used in operating activities:    
Bad debt expense 72,000 48,000
Stock-based compensation expense 583,000 494,000
Depreciation and amortization 382,000 393,000
Inventory reserve 45,000 60,000
Change in contingent consideration 20,000 56,000
Other non-cash items (3,000) 13,000
Changes in:    
Accounts receivable (3,928,000) (796,000)
Financing receivables 157,000 167,000
Inventory (255,000) (211,000)
Prepaid expenses and other assets (16,000) (1,991,000)
Deferred costs (834,000) 390,000
Deferred revenue 2,702,000 (841,000)
Accounts payable and accrued expenses 1,653,000 1,155,000
Net cash used in operating activities (1,616,000) (2,053,000)
Cash flows from investing activities:    
Acquisition (3,097,000)
Capital expenditures (234,000) (81,000)
Purchase of investments (99,000) (709,000)
Proceeds from the sale and maturities of investments 4,638,000 2,659,000
Net cash provided by investing activities 1,208,000 1,869,000
Cash flows from financing activities:    
Proceeds from exercise of stock options 187,000
Common stock repurchased - vesting of restricted stock (226,000) (408,000)
Net cash used in financing activities (226,000) (221,000)
Effect of foreign exchange rate changes on cash and cash equivalents (10,000) (147,000)
Net decrease in cash, cash equivalents and restricted cash (644,000) (552,000)
Cash, cash equivalents and restricted cash - beginning of period 10,466,000 5,403,000
Cash, cash equivalents and restricted cash - end of period 9,822,000 4,851,000
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 9,515,000 4,545,000
Restricted cash 307,000 306,000
Cash, cash equivalents, and restricted cash, end of beginning of period 9,822,000 4,851,000
Cash paid for:    
Taxes
Interest
Noncash investing and financing activities:    
Unrealized (loss) gain on investments 47,000 (60,000)
Value of shares withheld pursuant to stock issuance $ 646,000