XML 75 R6.htm IDEA: XBRL DOCUMENT v3.20.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Cash flows (used in)/provided by operating activities    
Net (loss)/income $ (1,116) $ 1,126
Adjustments to reconcile net (loss)/income to net cash (used in)/provided by operating activities    
Depreciation and amortization 679 617
Share-based compensation 226 343
Bad debt expense 14 0
Loss from discontinued operations, net of tax 1,436 0
Deferred taxes (127) 0
Tax benefit from release of valuation allowance 0 (1,889)
Change in assets and liabilities    
Accounts receivable 737 1,053
Contract assets 111 (429)
Inventory (897) (528)
Other current assets (287) (41)
Accounts payable and accrued expenses (760) 1,196
Contract liabilities (318) 149
Net cash (used in)/provided by operating activities (302) 1,597
Cash flows provided by/(used in) investing activities    
Acquisition of property and equipment (74) (215)
Intangible property costs (91) (61)
Proceeds from sale of discontinued operations 600 0
Acquisition of General Photonics Corporation 0 (19,004)
Net cash provided by/(used in) investing activities 435 (19,280)
Cash flows provided by/(used in) financing activities    
Payments on finance lease obligations (13) (7)
Payments of debt obligations 0 (375)
Proceeds from the exercise of options and warrants 1,198 185
Net cash provided by/(used in) financing activities 1,185 (197)
Net increase/(decrease) in cash and cash equivalents 1,318 (17,880)
Cash and cash equivalents—beginning of period 25,006 42,460
Cash and cash equivalents—end of period 26,324 24,580
Supplemental disclosure of cash flow information    
Cash paid for interest 1 12
Cash paid for income taxes 0 0
Non-cash investing and financing activities    
Contingent liability for business combination 0 900
Dividend on preferred stock, 19,823 shares of common stock issuable for the three months ended March 31, 2019 $ 0 $ 83