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Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Operating activities:      
Net (loss) income $ (4,287) $ 3,018 $ (6,567)
Adjustments to reconcile net (loss) income to net cash used in operating activities:      
Stock-based compensation 2,165 0 0
Abandonment charges 309 665 338
Impairment charges 0 0 5,184
Depreciation 271 147 36
Changes in operating assets and liabilities:      
Real estate inventories (45,137) 735 (13,005)
Receivables (542) 641 (883)
Other assets (236) 29 (471)
Accounts payable and accrued liabilities 12,547 3,562 2,153
Net cash (used in) provided by operating activities (34,910) 8,797 (13,215)
Investing activities:      
Purchases of fixed assets (619) (712) (96)
Net cash used in investing activities (619) (712) (96)
Financing activities:      
Cash contributions from member 37,512 41,005 30,531
Repayments of member contributions (25,443) (34,700) (18,311)
Proceeds from debt 33,637 7,392 5,520
Repayment of debt (38,452) (13,734) (3,787)
Proceeds from IPO (net of offering costs) 105,454 0 0
Net cash provided by (used in) financing activities 112,708 (37) 13,953
Net increase in cash and cash equivalents 77,179 8,048 642
Cash and cash equivalents – beginning of period 10,324 2,276 1,634
Cash and cash equivalents – end of period 87,503 10,324 2,276
Supplemental disclosure of cash flow information:      
Debt incurred to acquire real estate inventories $ 6,653 $ 5,420 $ 5,276