Consolidated Statements of Cash Flows (USD $)
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12 Months Ended | ||
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Dec. 31, 2014
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Dec. 31, 2013
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Dec. 31, 2012
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Cash Flows from Operating Activities: | |||
Net loss | $ (5,180,000)us-gaap_NetIncomeLoss | $ (16,821,000)us-gaap_NetIncomeLoss | $ (8,578,000)us-gaap_NetIncomeLoss |
Adjustments to reconcile net loss to net cash used in operating activities: | |||
Deferred income tax benefit | (6,550,000)us-gaap_DeferredIncomeTaxExpenseBenefit | ||
Depreciation | 495,000us-gaap_Depreciation | 263,000us-gaap_Depreciation | 228,000us-gaap_Depreciation |
Amortization of intangible and other assets | 5,149,000rvlt_AmortizationOfIntangibleAssetsAndOtherAssets | 2,859,000rvlt_AmortizationOfIntangibleAssetsAndOtherAssets | 265,000rvlt_AmortizationOfIntangibleAssetsAndOtherAssets |
Stock-based compensation | 1,711,000us-gaap_ShareBasedCompensation | 809,000us-gaap_ShareBasedCompensation | 45,000us-gaap_ShareBasedCompensation |
Gain on bargain purchase of business | (743,000)us-gaap_BusinessCombinationBargainPurchaseGainRecognizedAmount | ||
Change in fair value of contingent consideration | 1,419,000us-gaap_BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1 | 88,000us-gaap_BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1 | |
Impairment charges | 3,397,000us-gaap_GoodwillAndIntangibleAssetImpairment | ||
Gain on debt restructuring | (1,048,000)us-gaap_GainsLossesOnRestructuringOfDebt | ||
Change in fair value of embedded derivative | 6,990,000rvlt_ChangeInFairValueOfEmbeddedDerivative | ||
Other | 18,000us-gaap_ProceedsFromOtherOperatingActivities | 147,000us-gaap_ProceedsFromOtherOperatingActivities | |
Changes in operating assets and liabilities, net of the effect of the acquisitions (Note 2): | |||
(Increase) decrease in trade accounts receivable, net | (10,291,000)us-gaap_IncreaseDecreaseInAccountsReceivable | (1,727,000)us-gaap_IncreaseDecreaseInAccountsReceivable | 306,000us-gaap_IncreaseDecreaseInAccountsReceivable |
(Increase) decrease in inventories, net | (60,000)us-gaap_IncreaseDecreaseInInventories | (697,000)us-gaap_IncreaseDecreaseInInventories | 1,753,000us-gaap_IncreaseDecreaseInInventories |
(Increase) decrease in other assets | (977,000)us-gaap_IncreaseDecreaseInOtherOperatingAssets | (385,000)us-gaap_IncreaseDecreaseInOtherOperatingAssets | (126,000)us-gaap_IncreaseDecreaseInOtherOperatingAssets |
(Decrease) increase in accounts payable, accrued liabilities and other liabilities | (578,000)us-gaap_IncreaseDecreaseInAccountsPayableAndOtherOperatingLiabilities | 2,175,000us-gaap_IncreaseDecreaseInAccountsPayableAndOtherOperatingLiabilities | (1,381,000)us-gaap_IncreaseDecreaseInAccountsPayableAndOtherOperatingLiabilities |
(Decrease) increase in accrued compensation and benefits | (116,000)us-gaap_IncreaseDecreaseInEmployeeRelatedLiabilities | 381,000us-gaap_IncreaseDecreaseInEmployeeRelatedLiabilities | (69,000)us-gaap_IncreaseDecreaseInEmployeeRelatedLiabilities |
Increase (decrease) in customer deposits | 657,000us-gaap_IncreaseDecreaseInCustomerDeposits | (1,338,000)us-gaap_IncreaseDecreaseInCustomerDeposits | (69,000)us-gaap_IncreaseDecreaseInCustomerDeposits |
Net cash used in operating activities | (14,303,000)us-gaap_NetCashProvidedByUsedInOperatingActivities | (8,146,000)us-gaap_NetCashProvidedByUsedInOperatingActivities | (5,130,000)us-gaap_NetCashProvidedByUsedInOperatingActivities |
Cash Flows from Investing Activities: | |||
Acquisitions of businesses, net of cash acquired | (11,521,000)us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired | (10,437,000)us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired | (7,591,000)us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired |
Patents, trademarks and other | (83,000)us-gaap_PaymentsToAcquireIntangibleAssets | ||
Purchase of property and equipment | (485,000)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment | (133,000)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment | (12,000)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment |
Net cash (used in) provided by investing activities | (12,006,000)us-gaap_NetCashProvidedByUsedInInvestingActivities | (10,570,000)us-gaap_NetCashProvidedByUsedInInvestingActivities | (7,686,000)us-gaap_NetCashProvidedByUsedInInvestingActivities |
Cash Flows from Financing Activities: | |||
Proceeds from issuance of common stock, net of issuance costs | 8,614,000us-gaap_ProceedsFromIssuanceOfCommonStock | 4,950,000us-gaap_ProceedsFromIssuanceOfCommonStock | (10,000)us-gaap_ProceedsFromIssuanceOfCommonStock |
Payment to extinguish convertible promissory notes | (880,000)us-gaap_RepaymentsOfNotesPayable | ||
Proceeds from issuances of preferred stock, net of issuance costs | (94,000)rvlt_ProceedsFromIssuanceOfConvertiblePreferredStockNetOfTransactionCosts | 9,964,000rvlt_ProceedsFromIssuanceOfConvertiblePreferredStockNetOfTransactionCosts | 15,125,000rvlt_ProceedsFromIssuanceOfConvertiblePreferredStockNetOfTransactionCosts |
(Repayments) proceeds from short-term borrowings and notes payable | (1,552,000)rvlt_ProceedsFromRepaymentsOfShortTermBankLoansAndNotesPayable | 860,000rvlt_ProceedsFromRepaymentsOfShortTermBankLoansAndNotesPayable | |
Proceeds from revolving credit facility | 24,981,000us-gaap_ProceedsFromLinesOfCredit | ||
Repayments of revolving credit facility | (16,221,000)us-gaap_RepaymentsOfLinesOfCredit | ||
Proceeds from related party payable | 18,106,000us-gaap_ProceedsFromRelatedPartyDebt | ||
Repayments of related party payable | (3,249,000)us-gaap_RepaymentsOfRelatedPartyDebt | ||
Net proceeds from exercise of employee stock options and warrants | 265,000rvlt_ProceedsFromEmployeeStockOptionsAndWarrantsExercisedNet | ||
Net cash provided by financing activities | 30,585,000us-gaap_NetCashProvidedByUsedInFinancingActivities | 16,039,000us-gaap_NetCashProvidedByUsedInFinancingActivities | 14,235,000us-gaap_NetCashProvidedByUsedInFinancingActivities |
Net increase (decrease) in cash and cash equivalents | 4,276,000us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease | (2,677,000)us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease | 1,419,000us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease |
Cash and cash equivalents, beginning of period | 1,757,000us-gaap_CashAndCashEquivalentsAtCarryingValue | 4,434,000us-gaap_CashAndCashEquivalentsAtCarryingValue | 3,015,000us-gaap_CashAndCashEquivalentsAtCarryingValue |
Cash and cash equivalents, end of period | 6,033,000us-gaap_CashAndCashEquivalentsAtCarryingValue | 1,757,000us-gaap_CashAndCashEquivalentsAtCarryingValue | 4,434,000us-gaap_CashAndCashEquivalentsAtCarryingValue |
Supplemental Disclosure of Cash Flow Information: | |||
Cash paid during period for interest | 543,000us-gaap_InterestPaid | 21,000us-gaap_InterestPaid | |
Non-cash investing and financing activities: | |||
Contingent consideration for acquisitions | 9,976,000us-gaap_OtherSignificantNoncashTransactionValueOfConsiderationReceived1 | 960,000us-gaap_OtherSignificantNoncashTransactionValueOfConsiderationReceived1 | |
Exchange of trade accounts payable for note | 3,736,000us-gaap_DebtConversionConvertedInstrumentAmount1 | ||
Conversion of preferred stock for common stock | 36,843,000us-gaap_ConversionOfStockAmountConverted1 | 1,006,000us-gaap_ConversionOfStockAmountConverted1 | |
Accrual of dividends on preferred stock | 1,449,000us-gaap_DividendsPreferredStockStock | 1,360,000us-gaap_DividendsPreferredStockStock | |
In-kind dividends on Series C preferred stock | 1,000,000us-gaap_DividendsPaidinkind | ||
Common Stock | |||
Non-cash investing and financing activities: | |||
Issuance of stock |
23,111,000us-gaap_StockIssued1 / us-gaap_StatementClassOfStockAxis = us-gaap_CommonStockMember |
9,435,000us-gaap_StockIssued1 / us-gaap_StatementClassOfStockAxis = us-gaap_CommonStockMember |
4,295,000us-gaap_StockIssued1 / us-gaap_StatementClassOfStockAxis = us-gaap_CommonStockMember |
Series D Preferred Stock | |||
Non-cash investing and financing activities: | |||
Issuance of stock |
62,000us-gaap_StockIssued1 / us-gaap_StatementClassOfStockAxis = us-gaap_SeriesDPreferredStockMember |
950,000us-gaap_StockIssued1 / us-gaap_StatementClassOfStockAxis = us-gaap_SeriesDPreferredStockMember |
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Series G Preferred Stock | |||
Non-cash investing and financing activities: | |||
Issuance of stock |
18,000,000us-gaap_StockIssued1 / us-gaap_StatementClassOfStockAxis = us-gaap_SeriesGPreferredStockMember |
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Convertible Promissory Notes | |||
Non-cash investing and financing activities: | |||
Issuance of stock |
$ 588,000us-gaap_StockIssued1 / us-gaap_StatementClassOfStockAxis = rvlt_ConvertiblePromissoryNotesMember |
X | ||||||||||
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Amortization Of Intangible Assets And Other Assets No definition available.
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- Definition
Change In Fair Value Of Embedded Derivative No definition available.
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- Definition
This element represents the cash inflow associated with the amount received from holders exercising their stock options and warrants and from issuance of rights to purchase common shares at a predetermined price. No definition available.
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- Definition
Proceeds from issuance of convertible preferred stock, net of transaction costs. No definition available.
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- Definition
Proceeds from (Repayments of) Short Term Bank Loans And Notes Payable No definition available.
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- Definition
In a business combination in which the amount of net identifiable assets acquired and liabilities assumed exceeds the aggregate consideration transferred or to be transferred (as defined), this element represents the amount of gain recognized by the entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of increase (decrease) in the value of a contingent consideration liability, including, but not limited to, differences arising upon settlement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of increase (decrease) in cash and cash equivalents. Cash and cash equivalents are the amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Includes effect from exchange rate changes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The value of the stock converted in a noncash (or part noncash) transaction. Noncash is defined as transactions during a period that do not result in cash receipts or cash payments in the period. "Part noncash" refers to that portion of the transaction not resulting in cash receipts or cash payments in the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The value of the financial instrument(s) that the original debt is being converted into in a noncash (or part noncash) transaction. "Part noncash" refers to that portion of the transaction not resulting in cash receipts or cash payments in the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of deferred income tax expense (benefit) pertaining to income (loss) from continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The amount of expense recognized in the current period that reflects the allocation of the cost of tangible assets over the assets' useful lives. Includes production and non-production related depreciation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of paid and unpaid paid-in-kind dividends (PIK) declared for classes of stock, for example, but not limited to, common and preferred. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of paid and unpaid preferred stock dividends declared with the form of settlement in stock. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
For a debtor, the aggregate gain (loss) recognized on the restructuring of payables arises from the difference between the book value of the debt before the restructuring and the fair value of the payments on the debt after restructuring is complete. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Total loss recognized during the period from the impairment of goodwill plus the loss recognized in the period resulting from the impairment of the carrying amount of intangible assets, other than goodwill. No definition available.
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- Definition
The increase (decrease) during the reporting period in the aggregate amount of obligations incurred but not paid and other operating obligations not separately disclosed in the statement of cash flows. No definition available.
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- Definition
The increase (decrease) during the reporting period in amount due within one year (or one business cycle) from customers for the credit sale of goods and services. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The increase (decrease) during the period in the amount of customer money held in customer accounts, including security deposits, collateral for a current or future transactions, initial payment of the cost of acquisition or for the right to enter into a contract or agreement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The increase (decrease) during the reporting period in the aggregate amount of obligations related to services received from employees, such as accrued salaries and bonuses, payroll taxes and fringe benefits. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The increase (decrease) during the reporting period in the aggregate value of all inventory held by the reporting entity, associated with underlying transactions that are classified as operating activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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- Definition
The increase (decrease) during the reporting period in other assets used in operating activities not separately disclosed in the statement of cash flows. May include changes in other current assets, other noncurrent assets, or a combination of other current and noncurrent assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The amount of cash paid for interest during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of cash inflow (outflow) from financing activities, including discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of cash inflow (outflow) from investing activities, including discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of cash inflow (outflow) from operating activities, including discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The value of the noncash (or part noncash) consideration received in a transaction. Noncash is defined as transactions during a period that do not result in cash receipts or cash payments in the period. "Part noncash" refers to that portion of a transaction not resulting in cash receipts or cash payments in the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The cash outflow associated with the acquisition of a business, net of the cash acquired from the purchase. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The cash outflow to acquire asset without physical form usually arising from contractual or other legal rights, excluding goodwill. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The cash outflow associated with the acquisition of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale; includes cash outflows to pay for construction of self-constructed assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The cash inflow from the additional capital contribution to the entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of cash inflow from contractual arrangement with the lender, including but not limited to, letter of credit, standby letter of credit and revolving credit arrangements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Cash received during the current period for operating activities other than those that have been specifically listed above. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The cash inflow from a long-term borrowing made from related parties where one party can exercise control or significant influence over another party; including affiliates, owners or officers and their immediate families, pension trusts, and so forth. Alternate caption: Proceeds from Advances from Affiliates. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of cash outflow for payment of an obligation from a lender, including but not limited to, letter of credit, standby letter of credit and revolving credit arrangements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The cash outflow for a borrowing supported by a written promise to pay an obligation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The cash outflow for the payment of a long-term borrowing made from a related party where one party can exercise control or significant influence over another party; including affiliates, owners or officers and their immediate families, pension trusts, and so forth. Alternate caption: Payments for Advances from Affiliates. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The aggregate amount of noncash, equity-based employee remuneration. This may include the value of stock or unit options, amortization of restricted stock or units, and adjustment for officers' compensation. As noncash, this element is an add back when calculating net cash generated by operating activities using the indirect method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The fair value of stock issued in noncash financing activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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