Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

v3.3.0.814
Condensed Consolidated Statements of Cash Flows
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2014
USD ($)
Sep. 30, 2015
USD ($)
Sep. 30, 2014
USD ($)
Cash Flows from Operating Activities:      
Net loss $ (1,404) $ (3,819) $ (2,564)
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation   415 341
Amortization of intangibles and other assets   2,976 3,517
Reacquired common stock issued for acquisition   (547)  
Change in fair value of contingent consideration   739 (120)
Deferred income tax benefit 496   (5,468)
Stock-based compensation 227 2,082 588
Changes in operating assets and liabilities, net of the effect of acquisitions (Note 2):      
Increase in trade accounts receivable, net   (8,289) (8,630)
Increase in unbilled contract receivables   (2,955)  
Increase in inventories, net   (5,690) (451)
Increase in other assets   (77) (197)
Decrease in accounts payable and other liabilities   (2,639) (2,713)
Net cash used in operating activities   (17,804) (15,697)
Cash Flows from Investing Activities:      
Acquisition of businesses, net of cash acquired   (10,248) (10,084)
Purchase of property and equipment   (420) (336)
Net cash used in investing activities   (10,668) (10,420)
Cash Flows from Financing Activities:      
Issuance of common stock, net of fees and expenses   9,525 (74)
Repayments of short-term borrowings and notes payable   (300) (859)
Proceeds of loans from affiliates of controlling stockholder     18,103
Repayments of loans from affiliates of controlling stockholder     (3,249)
Proceeds from revolving credit facility, net   14,096 12,893
Net cash provided by financing activities   23,321 26,758
(Decrease) increase in Cash and Cash Equivalents   (5,151) 641
Cash and Cash Equivalents, beginning of period   6,033 1,757
Cash and Cash Equivalents, end of period 2,398 882 2,398
Supplemental Disclosure of Cash Flow Information:      
Cash paid during period for interest   473  
Non-cash investing and financing activities:      
Issuance of promissory notes for acquisition   10,000  
Contingent consideration 7,753 1,801 7,753
Deferred consideration for acquisition   350  
Accrual of dividends on preferred stock 1,449   1,449
Contingent Consideration      
Non-cash investing and financing activities:      
Issuance of stock   6,172  
Series E Convertible Preferred Stock      
Cash Flows from Financing Activities:      
Proceeds from issuance of convertible preferred stock, net of issuance costs     (56)
Common Stock | Value Lighting      
Non-cash investing and financing activities:      
Issuance of stock   $ 10,000 21,282
Series G Preferred Stock      
Non-cash investing and financing activities:      
Issuance of stock     18,000
Series C Preferred Stock | Dividend Paid      
Non-cash investing and financing activities:      
Accrual of dividends on preferred stock $ 1,000   $ 1,000