Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.6.0.2
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Cash flows from operating activities:    
Net loss $ (26,472) $ (65,659)
Adjustments to reconcile net loss to net cash used in operating activities:    
Net (income) loss from discontinued operations (465) 15,124
Depreciation and amortization 2,113 3,385
Provision for bad debts 55 233
Amortization of debt discount and deferred debt issuance costs 6,903 5,133
Loss on disposal of equipment 11
Stock compensation for services 3,385 8,213
Issuance of shares to non-employees for services 104 434
Loss on equity investment 23
Change in fair value of derivative instruments (17,545) 9,400
Shares issued to third party 5
Deferred income taxes (35) (1,224)
Gain (loss) on conversion of debt (416) 1,148
Loss on extinguishment of debt 9,587 3,725
Loss on exchange of shares 2,331
Change in fair value of contingent consideration (2,038)
Gain on modification of warrants (660)
Write off of investment in equity method investee 777
Reserve for loans to employees 891
Loss on disposal of subsidiary (326)
Goodwill impairment 1,114 10,907
Intangible asset impairment 3,459 675
Changes in operating assets and liabilities:    
Accounts receivable 3,049 2,479
Inventory 1,015 (149)
Other assets 503 (796)
Deferred revenue (2,086) 1,465
Accounts payable and accrued expenses 3,523 3,034
Income taxes payable (599) (528)
Net cash used in operating activities of continuing operations (11,443) (3,352)
Net cash provided by operating activities of discontinued operations 414 1,523
Net cash used in operating activities (11,029) (1,829)
Cash flows from investing activities:    
Purchases of equipment (128) (215)
Cash acquired upon acquisitions 112
Issuance of notes receivable (873) (900)
Net cash used in investing activities of continuing operations (889) (1,115)
Net cash provided by (used in) investing activities of discontinued operations 21,887 (369)
Net cash provided by (used in) investing activities 20,998 (1,484)
Cash flows from financing activities:    
Repayments of bank borrowings (10) (175)
Repayments of related party borrowings (25)
Proceeds from third-party borrowings 495 9,391
Repayments of third-party borrowings (15,083) (3,404)
Proceeds from third-party borrowings 1,474
Repayments of third-party borrowings (1,000)
Restricted cash applied to long term loans (2,000)
Repurchase of common shares 1
Net cash provided by (used in) financing activities (16,123) 5,787
Net increase (decrease) in cash (6,154) 2,474
Cash, beginning of year 7,944 5,470
Cash, end of year 1,790 7,944
Supplemental disclosures of cash flow information:    
Cash paid for interest 3,012 2,277
Cash paid for income taxes 115 226
Non-cash investing and financing activities:    
Issuance of shares pursuant to conversion of debt 7,216 6,772
Addition to debt discount 3,042 9,243
Issuance of warrants pursuant to acquisition 36
Issuance of shares upon exercise of warrants 468
Issuance of warrant pursuant to JGB Waltham and JGB Concord amendment 972
Issuance of shares pursuant to extinguishment of debt 1,275
Issuance of shares pursuant to modification of debt 731
Issuance of shares pursuant to restructuring of debt 292
Issuance of shares upon conversion of related party debt 822
Additional note payable issued as part of related party debt modification 1,730
Conversion of accrued interest to note payable 450
Issuance of shares for earn out provisions related to prior year acquisitions 1,457
Issuance of shares pursuant to acquisitions 1,174
Issuance of shares in lieu of cash compensation 189
Issuance of shares for settlement of interest 343
Issuance of warrants for settlement of accounts payable 460 674
Issuance of warrants pursuant to bridge financing agreement 1,276
Issuance of shares for payout of incentives earned 50 288
Issuance of shares pursuant to loan covenants 828
Issuance of shares pursuant to bridge financing agreement $ 320