Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

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Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2012
Dec. 31, 2011
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income (loss) $ 65 $ (1,177)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Depreciation and amortization of property and equipment 3,636 2,085
Amortization of intangibles 182  
Amortization of debt issue costs 38 40
Stock based compensation - options 575 285
Stock based compensation - warrants and restricted stock 223 173
Provision for bad debts 3,053 2,567
Changes in assets and liabilities, net:    
(Increase) decrease in accounts receivable, net of write-offs (9,192) (5,226)
(Increase) decrease in inventories (657) (315)
(Increase) decrease in other assets 46 (55)
(Increase) decrease in other current assets 96 25
Increase (decrease) in accounts payable and other liabilities 1,443 1,667
NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES (492) 69
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchase of intangible assets (1,037)  
Purchases of property and equipment (2,615) (897)
NET CASH USED IN INVESTING ACTIVITIES (3,652) (897)
CASH FLOWS FROM FINANCING ACTIVITIES    
Advances (repayments) from/to revolving credit facility 4,560 456
Restricted cash 500  
Repayment of capital leases obligations (2,187) (1,579)
Issuance of common stock and warrants for cash , net of transaction expenses 511 3,482
NET CASH PROVIDED BY FINANCING ACTIVITIES 3,384 2,359
NET CHANGE IN CASH AND CASH EQUIVALENTS (760) 1,531
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR 2,628 1,097
CASH AND CASH EQUIVALENTS, END OF YEAR 1,868 2,628
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION    
Interest paid 1,108 735
Equipment leased under capital leases 2,782 2,950
Common stock issued for intangible asset purchase $ 1,945