Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

v2.4.0.8
Condensed Consolidated Statements of Cash Flows (USD $)
 9 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Cash Flows from Operating Activities:    
Net loss $ (2,564,000) $ (13,533,000)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 341,000 144,000
Amortization of intangibles 3,517,000 2,444,000
Gain on purchase of business   (743,000)
Change in fair value of contingent consideration (120,000)  
Deferred income tax benefit (5,468,000)  
Stock-based compensation 588,000 754,000
Change in fair value of embedded derivative   6,990,000
(Increase) decrease in:    
Trade accounts receivable, net (8,630,000) (1,757,000)
Inventories (451,000) (32,000)
Other, net 3,043,000 (209,000)
Increase (decrease) in:    
Accounts payable and accrued liabilities (6,786,000) 655,000
Accrued compensation and benefits 389,000 250,000
Customer deposits 336,000 (1,174,000)
Deferred revenue 108,000 997,000
Net cash used in operating activities (15,697,000) (5,214,000)
Cash Flows from Investing Activities:    
Purchase of property and equipment (336,000) (65,000)
Net cash used in investing activities (10,420,000) (8,638,000)
Cash Flows from Financing Activities:    
Proceeds from issuance of common stock , net of issuance costs   4,948,000
Payment of fees related to issuance of common stock (74,000)  
Repayment of short-term borrowings (859,000)  
Proceeds from revolving credit facility 12,893,000  
Proceeds of loans from affiliates of controlling stockholder 18,103,000  
Repayments of loans from affiliates of controlling stockholder (3,249,000)  
Proceeds from employee stock options   265,000
Net cash provided by financing activities 26,758,000 15,181,000
Net increase in Cash and Cash Equivalents 641,000 1,329,000
Cash and Cash Equivalents, beginning of period 1,757,000 4,434,000
Cash and Cash Equivalents, end of period 2,398,000 5,763,000
Non-cash investing and financing activities:    
Contingent consideration 7,753,000  
Accrual of dividends on preferred stock 1,449,000 951,000
Common Stock | Value Lighting
    
Non-cash investing and financing activities:    
Issuance of stock 20,908,000 8,619,000
Common Stock | Seesmart Technologies Incorporated
    
Non-cash investing and financing activities:    
Issuance of stock 374,000  
Series E Convertible Preferred Stock
    
Cash Flows from Financing Activities:    
Proceeds from issuance of convertible preferred stock, net of issuance costs (56,000) 4,968,000
Series F Redeemable Convertible Preferred Stock
    
Cash Flows from Financing Activities:    
Proceeds from issuance of convertible preferred stock, net of issuance costs   5,000,000
Series D Preferred Stock
    
Non-cash investing and financing activities:    
Issuance of stock   63,000
Conversion of Preferred Stock   1,006,000
Series C Preferred Stock | Dividend Paid
    
Non-cash investing and financing activities:    
Accrual of dividends on preferred stock 1,000,000  
Series G Preferred Stock
    
Non-cash investing and financing activities:    
Issuance of stock 18,000,000  
Relume Technologies Inc
    
Cash Flows from Investing Activities:    
Acquisition, net of cash acquired   (4,224,000)
Seesmart Technologies Incorporated
    
Cash Flows from Investing Activities:    
Acquisition, net of cash acquired   (3,849,000)
Elite LED Solutions Incorporated
    
Cash Flows from Investing Activities:    
Acquisition, net of cash acquired   (500,000)
Value Lighting
    
Cash Flows from Investing Activities:    
Acquisition, net of cash acquired $ (10,084,000)