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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Cash flows from operating activities:    
Net (loss) income $ (2,020,000) $ 240,000
Adjustments to reconcile net (loss) income to net cash provided by operating activities:    
Depreciation and amortization 2,527,000 1,993,000
Non cash lease expense 848,000 0
Amortization of deferred financing costs 35,000 32,000
Amortization of deferred hosting costs 311,000 786,000
Decrease in provision for doubtful accounts (1,000) (148,000)
Stock-based compensation 118,000 116,000
Changes in operating assets and liabilities:    
Receivables 1,362,000 (18,000)
Prepaid expenses and other (45,000) (188,000)
Deferred hosting costs (921,000) (936,000)
Other assets (23,000) (6,000)
Accounts payable and accrued expenses 401,000 47,000
Deferred revenues (51,000) (196,000)
Lease liabilities (848,000) 0
Net cash provided by operating activities 1,693,000 1,722,000
Cash flows from investing activities:    
Purchases of property and equipment (145,000) (42,000)
Capitalized software development costs (2,301,000) (2,430,000)
Net cash used in investing activities (2,446,000) (2,472,000)
Cash flows from financing activities:    
Dividend payments on preferred stock (200,000) (105,000)
Payment on the term note from Bridge Bank 0 (225,000)
Payment on line of credit from Bridge Bank (12,524,000) (7,975,000)
Proceeds on line of credit from Bridge Bank 12,443,000 8,367,000
Proceeds from exercise of stock options 144,000 84,000
Net cash (used) provided by financing activities (137,000) 146,000
Effect of exchange rate changes on cash 12,000 19,000
Net decrease in cash, cash equivalents and restricted cash (878,000) (585,000)
Cash, cash equivalents and restricted cash, beginning of period 1,348,000 2,001,000
Cash, cash equivalents and restricted cash, end of period 470,000 1,416,000
Supplemental disclosure of cash flows information:    
Cash paid for taxes 110,000 0
Cash paid for interest 182,000 107,000
Supplemental disclosure of non-cash flows information:    
Accrued preferred dividends $ 375,000 $ 375,000