Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows (unaudited)

v3.5.0.2
Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income (loss) $ 568 $ (937)
Adjustments to reconcile net income (loss) to net cash provided by operating activities, net of business acquisition:    
Depreciation 7,329 3,249
Amortization of intangibles 3,636 190
Amortization of debt issue costs 358  
Stock based compensation – options, restricted stock and warrants 2,337 1,020
Provision for bad debts 5,434 1,303
Changes in assets and liabilities, net of business acquisition:    
(Increase) in accounts receivable, net of write-offs (10,004) (1,958)
(Increase) in inventories (437) (800)
(Increase) in prepaid expenses (602)  
(Increase) in other current assets   (129)
Increase (Decrease) in accounts payable and other liabilities 3,476 (41)
Net cash provided by operating activities 12,095 1,897
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchases of property and equipment (3,425) (1,180)
Net cash used in investing activities (3,425) (1,180)
CASH FLOWS FROM FINANCING ACTIVITIES    
Repayment of revolving credit facility (10,044)  
Repayment of capital lease obligations/loans (2,611) (1,833)
Proceeds from the exercise of options, warrants and ESPP shares, net of transaction expenses 2,351 379
Net cash used in financing activities (10,304) (1,454)
Net change in cash and cash equivalents (1,634) (737)
Cash and cash equivalent, beginning of period 23,420 33,689
Cash and cash equivalents, end of period 21,786 32,952
Supplemental disclosure of cash flow information:    
Interest paid 2,691 417
Income taxes paid 222 20
Supplemental disclosure of non-cash investing and financing information:    
Equipment acquired under capital lease/loan obligations 2,585 $ 3,400
Deemed dividends on preferred stock 3,680  
Amortization of preferred stock beneficial conversion feature $ 7,453