Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

v3.2.0.727
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Cash Flows from Operating Activities    
Net loss $ (4,599) $ (3,286)
Adjustment to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 260 125
Amortization of intangible assets 1,881 1,577
Stock based compensation $ 494 844
Investment income   $ (3)
Amortization of deferred financing costs $ 23  
Change in fair value of shares to be issued (89)  
Compensation expense, note receivable related party 90  
Provision for doubtful accounts (9)  
Other (13)  
Changes in operating assets and liabilities:    
Accounts receivable and other receivables (1,643) $ (2,010)
Inventory (282) (87)
Other current assets (290) (661)
Prepaid licenses and maintenance contracts (245) (2,058)
Other assets (2) 188
Accounts payable 192 (1,134)
Accrued liabilities (274) (1,472)
Deferred revenue 373 2,448
Other liabilities (69) (4)
Total Adjustments 397 (2,247)
Net Cash Used in Operating Activities (4,202) (5,533)
Cash Flows Used in Investing Activities    
Purchase of property and equipment $ (168) (194)
Proceeds from the sale of marketable securities   125
Investment in capitalized software $ (374) $ (140)
Cash paid for LightMiner $ (19)  
Cash paid for AirPatrol   $ (8,466)
Cash acquired in AirPatrol acquisition   71
Net Cash Flows Used in Investing Activities $ (561) (8,604)
Cash Flows from Financing Activities    
Advances (repayment) of line of credit 2,213 (1,116)
Repayment of term loan (431) $ (125)
Advances from term loan $ 2,000  
Net proceeds from issuance of common stock   $ 2,080
Net proceeds from capital raise   16,615
Net proceeds from conversion of employee options   13
Repayment of notes payable $ (1) (245)
Advance to related party   (90)
Repayment of advance from Duroob Technology   (160)
Net Cash Provided by Financing Activities $ 3,781 16,972
Effect of Foreign Exchange Rate on Changes on Cash (4) (6)
Net (Decrease) Increase in Cash and Cash Equivalents (986) 2,829
Cash and Cash Equivalents - Beginning of period 3,228 2,104
Cash and Cash Equivalents - End of period 2,242 4,933
Cash paid for:    
Interest $ 197 167
Income Taxes   35
Acquisition of AirPatrol:    
Assumption of assets other than cash   682
Assumption of liabilities   1,811
Issuance of common stock   $ 10,178
Acquisition of LightMiner:    
Assumption of assets other than cash (property and equipment) $ 225  
Assumption of assets - developed technology and export license $ 3,461