Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.7.0.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Cash flows from operating activities:    
Net loss $ (2,410,000) $ (2,195,000)
Adjustments to reconcile net loss to cash used in operating activities:    
Bad debt (recovery) expense 207,000 (103,000)
Stock-based compensation expense 1,297,000 1,027,000
Depreciation and amortization 393,000 354,000
Inventory reserve 183,000 120,000
Other non-cash items (31,000) 36,000
Changes in:    
Accounts receivable 1,302,000 797,000
Financing receivables 666,000 72,000
Inventory 1,153,000 1,629,000
Prepaid expenses and other assets (559,000) (127,000)
Deferred costs 802,000 (1,446,000)
Deferred revenue 2,027,000 1,232,000
Accounts payable and accrued expenses 660,000 (1,413,000)
Net cash (used in) provided by operating activities 5,690,000 (17,000)
Cash flows from investing activities:    
Capital expenditures (187,000) (278,000)
Purchase of investments (305,000) (377,000)
Proceeds from the sale and maturities of investments 362,000 371,000
Net cash used in investing activities (130,000) (284,000)
Cash flows from financing activities:    
Borrowings under revolving credit facility 11,655,000
Repayments under revolving credit facility (14,648,000)
Proceeds from exercise of stock options 1,214,000 19,000
Net cash provided by (used in) financing activities (1,779,000) 19,000
Effect of foreign exchange rate changes on cash and cash equivalents (303,000) 24,000
Net (decrease) increase in cash and cash equivalents 3,478,000 (258,000)
Cash and cash equivalents - beginning of period 4,972,000 4,489,000
Cash and cash equivalents - end of period 8,450,000 4,231,000
Cash paid for:    
Taxes
Interest 89,000 85,000
Noncash investing and financing activities:    
Unrealized gain on investments 4,000 4,000
Value of shares withheld pursuant to stock issuance $ 257,000 $ 163,000