XML 29 R5.htm IDEA: XBRL DOCUMENT v3.2.0.727
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Cash flows from operating activities:    
Net loss $ (1,066,000) $ (2,012,000)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation and amortization 2,251,000 1,809,000
Increase (decrease) in provision for doubtful accounts 20,000 (38,000)
Stock-based compensation 64,000 89,000
Deferred income tax 20,000 5,000
Changes in operating assets and liabilities:    
Receivables (1,800,000) 254,000
Prepaid expenses and other 12,000 92,000
Accounts payable and accrued expenses 449,000 (287,000)
Deferred revenues 1,215,000 979,000
Other assets 1,000 (2,000)
Net cash provided by operating activities 1,166,000 889,000
Cash flows from investing activities:    
Proceeds from the sale of short term investments   5,000
Purchases of property and equipment (38,000) (37,000)
Capitalized software development costs (1,022,000) (1,289,000)
Change in restricted cash (2,000) (22,000)
Net cash used in investing activities (1,062,000) (1,321,000)
Cash flows from financing activities    
Proceeds from line of credit from Silicon Valley Bank 420,000 690,000
Repayment on line of credit from director/officer   (250,000)
Deferred financing cost   (126,000)
Proceeds from line of credit from director/ officer   400,000
Dividend payments on preferred stock (220,000) (150,000)
Net cash provided by financing activities 200,000 564
Effect of exchange rate changes on cash (129,000) 2,000
Net increase in cash and cash equivalents 175,000 134,000
Cash and cash equivalents, beginning of period 1,349,000 1,111,000
Cash and cash equivalents, end of period $ 1,524,000 $ 1,245,000