Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.19.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Cash flows from operating activities: (net of assets acquired)    
Net loss $ (4,779,000) $ (2,106,000)
Adjustments to reconcile net loss to cash used in operating activities:    
Bad debt expense 110,000 4,000
Stock-based compensation expense 1,184,000 1,089,000
Depreciation and amortization 852,000 782,000
Inventory reserve 93,000 140,000
Change in contingent consideration 47,000 112,000
Other non-cash items (11,000) 4,000
Changes in:    
Accounts receivable (1,697,000) (3,205,000)
Financing receivables 217,000 363,000
Inventory (2,231,000) 582,000
Prepaid expenses and other assets 270,000 (1,156,000)
Deferred costs (609,000) (95,000)
Deferred revenue 694,000 (124,000)
Accounts payable and accrued expenses 3,578,000 299,000
Net cash used in operating activities (2,282,000) (3,311,000)
Cash flows from investing activities:    
Acquisitions (3,800,000)
Capital expenditures (396,000) (150,000)
Purchase of investments (99,000) (1,963,000)
Proceeds from the sale and maturities of investments 4,638,000 3,915,000
Net cash provided by investing activities 343,000 1,802,000
Cash flows from financing activities:    
Proceeds from exercise of stock options 177,000 190,000
Common stock repurchased - vesting of restricted stock (245,000) (456,000)
Net cash used in financing activities (68,000) (266,000)
Effect of foreign exchange rate changes on cash and cash equivalents (54,000) 71,000
Net decrease in cash, cash equivalents and restricted cash (2,061,000) (1,704,000)
Cash, cash equivalents and restricted cash - beginning of period 10,466,000 5,403,000
Cash, cash equivalents and restricted cash - end of period 8,405,000 3,699,000
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 8,098,000 3,393,000
Restricted cash 307,000 306,000
Cash, cash equivalents, and restricted cash, end of beginning of period 8,405,000 3,699,000
Cash paid for:    
Taxes
Interest 56,000
Noncash investing and financing activities:    
Unrealized (loss) gain on investments 47,000 (72,000)
Value of shares withheld pursuant to stock issuance $ 238,000