XML 71 R9.htm IDEA: XBRL DOCUMENT v3.20.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
OPERATING ACTIVITIES    
Net income (loss) $ 1,379 $ 21,400
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 3,627 2,062
Deferred income taxes 3,471 (13,483)
Provision for doubtful accounts receivable 658 904
Stock-based compensation 1,102 4,523
Gain on sale disposal of property and equipment (18)
Gain on extinguishment of liability (164)
Impairment of goodwill 400
Impairment of assets 2,742
Equity in the net loss of equity method investees 4,830 3,430
Change in assets and liabilities, net of effect of acquisition:    
Trade accounts receivable (12,041) 7,817
Inventory (6,739) (4,764)
Prepaid expenses (124) 219
Other current assets and other assets 1,137 2,726
Trade accounts payable, accrued expenses and other current liabilities 5,506 (7,846)
Contract liability 12,271 547
Due to IDT Corporation 147 20
Income taxes payable 128 (741)
Net cash provided by operating activities 15,752 19,374
INVESTING ACTIVITIES    
Capital expenditures (404) (584)
Investments in notes receivable (214)
Proceeds from disposal of property 62
Payment for acquisition of license in Japan (745)
Cash transferred to Atid 613 (209)
Payment for acquisition, net of cash acquired (2,044) (250)
Repayment of notes receivable 124 94
Investments in equity method investees (3,235) (1,306)
Net cash used in investing activities (5,773) (2,938)
FINANCING ACTIVITIES    
Dividends paid (9,595) (9,256)
Purchases of Class B common stock (5,584)
Repayment of short-term debt-Lumo Energia (2,260)
Repayment of notes payable (45) (10)
Proceeds from exercise of stock options 1,407
Proceeds from sales of Class B common stock and warrants 6,000
Proceeds from Other Debt 921
Repurchases of Class B common stock from employees (467) (889)
Net cash used in financing activities (15,623) (4,155)
Effect of exchange rate changes on cash, cash equivalents and restricted cash 1 (11)
Net (decrease) increase in cash, cash equivalents and restricted cash (5,643) 12,270
Cash, cash equivalents and restricted cash at beginning of year 44,197 31,927
Cash, cash equivalents and restricted cash at end of year 38,554 44,197
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION    
Cash payments made for interest 529 400
Cash payments made for income taxes 702 1,771
SUPPLEMENTAL SCHEDULE OF NON-CASH FINANCING AND INVESTING ACTIVITIES    
Class B common stock issued for GRE deferred stock units  
Purchase of equity of subsidiary (Note 12) 4,140
Carrying value of assets contributed to New Atid (Note 2) $ 1,000