Quarterly report pursuant to sections 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

v2.4.0.8
Condensed Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
 3 Months Ended
Mar. 31, 2014
Mar. 31, 2013
Cash Flows from Operating Activities:    
Net loss $ (3,507) $ (5,318)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 98 38
Amortization of intangibles 456 950
Gain on purchase of business   (742)
Change in fair value of contingent consideration (102)  
Stock-based compensation 132 192
Change in fair value of embedded derivative   3,169
(Increase) decrease in:    
Trade accounts receivable, net 482 (4,135)
Inventories 106 165
Other assets (136) (649)
Increase (decrease) in:    
Accounts payable and accrued liabilities (1,723) 2,058
Accrued compensation and benefits 30 474
Customer deposits 107 (1,244)
Other liabilities 19  
Deferred revenue 95 33
Total adjustments (436) 309
Net cash used in operating activities (3,943) (5,009)
Cash Flows from Investing Activities:    
Purchase of property and equipment (89) (4)
Net cash used in investing activities (89) (3,255)
Cash Flows from Financing Activities:    
Proceeds from issuance of Series E Convertible Preferred Stock, net of issuance costs   4,968
Proceeds from issuance of common stock , net of issuance costs (32) 4,822
Proceeds from related party note payable 3,500  
Short term borrowings, net (185)  
Net cash provided by financing activities 3,283 9,790
Net increase (decrease) in Cash and Cash Equivalents (749) 1,526
Cash and Cash Equivalents, beginning of period 1,757 4,434
Cash and Cash Equivalents, end of period 1,008 5,960
Non-cash investing and financing activities:    
Interest paid 37  
Accrual of dividends on convertible preferred stock 400  
Series D Preferred Stock
    
Non-cash investing and financing activities:    
Stock issued for acquisition   63
Common Stock
    
Non-cash investing and financing activities:    
Stock issued for acquisition 374 1,184
Seesmart Technologies Incorporated
    
Cash Flows from Investing Activities:    
Acquisition, net of cash acquired   (2,751)
Elite LED Solutions Incorporated
    
Cash Flows from Investing Activities:    
Acquisition, net of cash acquired   $ (500)