Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

v3.3.0.814
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Cash Flows from Operating Activities    
Net loss $ (7,770) $ (5,834)
Adjustment to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 446 196
Amortization of intangible assets 2,938 2,020
Stock based compensation 885 $ 1,279
Amortization of deferred financing costs 23
Change in fair value of shares to be issued (157)
Compensation expense, note receivable related party 90
Provision for doubtful accounts 32
Other (13) $ (3)
Changes in operating assets and liabilities:    
Accounts receivable and other receivables (1,098) 253
Inventory 41 $ (103)
Other current assets (266)
Prepaid licenses and maintenance contracts (255) $ (1,916)
Other assets 67 (707)
Accounts payable 751 (2,691)
Accrued liabilities 143 (1,312)
Deferred revenue 339 $ 2,426
Other liabilities (88)
Total Adjustments 3,878 $ (558)
Net Cash Used in Operating Activities (3,892) (6,392)
Cash Flows Used in Investing Activities    
Purchase of property and equipment $ (254) (311)
Proceeds from the sale of marketable securities 125
Investment in capitalized software $ (618) $ (210)
Cash paid for LightMiner $ (19)
Loans and advances to other parties $ (1,040)
Repayment of loans and advances to other parties 1,000
Acquisitions, net of cash acquired (9,395)
Change in restricted cash 70
Net Cash Flows Used in Investing Activities $ (891) $ (9,761)
Cash Flows from Financing Activities    
Advances from the line of credit 923
Repayment of term loan (597)
Advances from term loan 2,000
Net proceeds from issuance of common stock $ 4,684 $ 18,695
Net proceeds from employee stock options exercises $ 13
Repayment of notes payable $ (71)
Advance to related party $ 1
Repayment of borrowings $ (1,919)
Net Cash Provided by Financing Activities $ 6,940 16,789
Effect of Foreign Exchange Rate on Changes on Cash (22) (11)
Net Increase in Cash and Cash Equivalents 2,135 625
Cash and Cash Equivalents - Beginning of period 3,228 2,104
Cash and Cash Equivalents - End of period 5,363 2,729
Cash paid for:    
Interest $ 317 239
Income taxes 35
Acquisition of AirPatrol:    
Assumption of assets other than cash in acquisitions 682
Assumption of liabilities in acquisitions 1,811
Issuance of common stock in acquisitions $ 10,178
Acquisition of LightMiner:    
Assumption of assets other than cash (property & equipment) $ 225
Assumption of assets - developed technology and export license $ 3,461