v3.6.0.2
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
CASH FLOWS FROM OPERATING ACTIVITIES      
Net income (loss) $ (5,723) $ (2,535) $ 1,132
Adjustments to reconcile net income (loss) to net cash provided by operating activities, net of business acquisition:      
Impact of tax valuation allowance   (2,066)  
Depreciation 15,937 6,730 5,345
Impairment of assets 3,464    
Amortization of intangibles 7,272 412 295
Loss on extinguishment of debt 1,099    
Amortization of debt issue costs 3,497   66
Stock based compensation – options and restricted stock 4,978 2,889 641
Stock based compensation – warrants 460 590 51
Provision for bad debts 11,856 2,318 2,437
Changes in assets and liabilities, net of business acquisition:      
(Increase) in accounts receivable, net of write-offs (18,425) (3,215) (2,770)
(Increase) in inventories (1,145) (896) (229)
(Increase) decrease in other assets (44) 11 41
(Increase) decrease in other current assets 354 (3,748) (25)
Increase (decrease) in accounts payable and other liabilities (2,103) 5,903 2,466
Net cash provided by operating activities 21,477 6,393 9,450
CASH FLOWS FROM INVESTING ACTIVITIES      
Acquisition, net of cash acquired of $0, $890 and $79 1,035 (72,940) (5,830)
Purchases of property and equipment (7,536) (2,215) (3,772)
Net cash used in investing activities (6,501) (75,155) (9,602)
CASH FLOWS FROM FINANCING ACTIVITIES      
Advances from (repayments to) revolving credit facility 12,856 10,002 (4,282)
Repayment of capital lease obligations (5,293) (4,115) (3,581)
Proceeds from term loan 75,000 55,022  
Redemption of preferred stock (55,000)    
Repayment of term loan (55,000)    
Payments of debt issue costs (2,202) (3,351)  
Issuance of common stock for the exercise of options, warrants and ESPP shares, net of transaction expenses 3,768 935 2,616
Issuance of common stock for cash , net of transaction expenses     34,254
Net change in cash and cash equivalents (10,895) (10,269) 28,855
Net cash provided by (used in) financing activities (25,871) 58,493 29,007
Cash and cash equivalent, beginning of year 23,420 33,689 4,834
Cash and cash equivalents, end of year 12,525 23,420 33,689
Supplemental disclosure of cash flow information:      
Interest paid 5,423 911 981
Income taxes paid 290 25 177
Supplemental disclosure of non-cash investing and financing information:      
Equipment acquired under capital lease/loan obligations $ 6,057 4,813 $ 5,884
Fair value of common stock issued to fund acquisition   102,510  
Fair value of preferred stock issued to fund acquisition   $ 73,200  

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