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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Cash flows provided by operating activities    
Net income $ 253 $ 1,967
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation and amortization 1,363 1,166
Share-based compensation 843 721
Bad debt expense (26) 0
Loss on disposal of fixed assets 4 0
Loss from discontinued operations, net of tax 1,436 0
Deferred taxes (10) 0
Change in assets and liabilities    
Accounts receivable (139) 713
Contract assets (508) (721)
Inventory (937) (161)
Other current assets (404) (18)
Accounts payable and accrued expenses (1,286) (2,314)
Contract liabilities (520) (235)
Net cash provided by operating activities 69 1,118
Cash flows provided by/(used in) investing activities    
Acquisition of property and equipment (111) (406)
Intangible property costs (192) (137)
Proceeds from sale of property and equipment 1 0
Proceeds from sale of discontinued operations 600 0
Acquisition of General Photonics Corporation 0 (19,004)
Net cash provided by/(used in) investing activities 298 (19,547)
Cash flows provided by/(used in) financing activities    
Payments on finance lease obligations (26) (15)
Payments of debt obligations 0 (625)
Repurchase of common stock (204) (220)
Proceeds from the exercise of options and warrants 1,363 367
Net cash provided by/(used in) financing activities 1,133 (493)
Net increase/(decrease) in cash and cash equivalents 1,500 (18,922)
Cash and cash equivalents—beginning of period 25,006 42,460
Cash and cash equivalents—end of period 26,506 23,538
Supplemental disclosure of cash flow information    
Cash paid for interest 2 13
Cash paid for income taxes 29 687
Non-cash investing and financing activities    
Contingent liability for business combination 0 915
Dividend on preferred stock, 39,646 shares of common stock issuable for the six months ended June 30, 2019 $ 0 $ 173