XML 22 R8.htm IDEA: XBRL DOCUMENT v3.19.1
Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Cash flows from operating activities (net of net assets acquired):      
Net loss $ (5,812,000) $ (3,870,000) $ (6,370,000)
Adjustments to reconcile net loss to cash (used in) provided by operating activities:      
Inventory reserve 321,000 313,000 205,000
Stock based compensation expense 2,163,000 2,437,000 1,658,000
Depreciation and amortization 1,561,000 1,132,000 685,000
Bad debt expense 31,000 115,000 117,000
Change in contingent consideration 169,000 94,000
Other non-cash items 85,000 (69,000) 2,000
Changes in:      
Accounts receivable (554,000) 1,597,000 1,174,000
Financing receivables 562,000 1,344,000 832,000
Inventory (384,000) 87,000 3,027,000
Prepaid expenses and other assets 401,000 (138,000) (1,120,000)
Deferred costs (471,000) 1,790,000 (3,758,000)
Deferred revenue (361,000) 186,000 2,939,000
Accounts payable and accrued expenses 587,000 (1,099,000) (1,874,000)
Net cash (used in) provided by operating activities (1,702,000) 3,919,000 (2,483,000)
Cash flows from investing activities:      
Acquisition (7,373,000)
Capital expenditures (251,000) (386,000) (505,000)
Purchases of investments (3,235,000) (11,083,000) (956,000)
Proceeds from the sale and maturities of investments 10,082,000 1,113,000 932,000
Net cash (used in) provided by investing activities 6,596,000 (17,729,000) (529,000)
Cash flows from financing activities:      
Net proceeds from underwritten public offering 16,065,000  
Borrowings under revolving credit facility 11,655,000 14,650,000
Repayments under revolving credit facility (14,648,000) (11,657,000)
Proceeds from exercise of stock options 721,000 1,277,000 70,000
Common stock repurchased (652,000)
Net cash provided by financing activities 69,000 14,349,000 3,063,000
Effect of foreign exchange rate changes on cash and cash equivalents 100,000 (413,000) 433,000
Net increase in cash, cash equivalents and restricted cash 5,063,000 126,000 484,000
Cash, cash equivalents and restricted cash - beginning of period 5,403,000 5,277,000 4,793,000
Cash, cash equivalents and restricted cash - end of period 10,466,000 5,403,000 5,277,000
Reconciliation of cash, cash equivalents, and restricted cash, beginning of period      
Cash and cash equivalents 5,097,000 4,972,000 4,489,000
Restricted cash 306,000 305,000 304,000
Cash, cash equivalents, and restricted cash, beginning of period 5,403,000 5,277,000 4,793,000
Cash and cash equivalents 10,159,000 5,097,000 4,972,000
Restricted cash 307,000 306,000 305,000
Cash, cash equivalents, and restricted cash, end of period 10,466,000 5,403,000 5,277,000
Cash paid for:      
Taxes
Interest 130,000 175,000
Non-cash investing and financing activities:      
Unrealized (loss) gain on investments 66,000 (102,000) (11,000)
Shares withheld pursuant to stock issuance 249,000 465,000 $ 323,000
Value of shares issued relating to acquisition contingent consideration 2,000,000    
Value of shares issued pursuant to acquisition 2,000,000  
Contingent consideration relating to acquisition $ 2,683,000