v3.19.1
CONSOLIDATED STATEMENTS OF CASH FLOW - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
OPERATING ACTIVITIES    
Net income (loss) $ 10,001 $ (4,897)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization 519 183
Amortization of debt issuance costs 51 221
Amortization of derivative liability debt discount 0 29
Stock-based compensation 2,925 3,419
Stock-based royalty buy-out 0 2,432
Common stock issued for professional services 295 0
Bad debt expense 49 483
Deferred tax liability (10) (482)
Change in accrued interest payable included in convertible note payable 0 189
Fair value of warrant expense incurred on extinguishment of note payable 0 137
Loss on sale of fixed assets 0 12
Gain on change in derivative liability 0 (249)
Change in operating assets and liabilities:    
Accounts receivable (1,882) (1,241)
Note receivable 0 (25)
Inventory (60) 1,043
Prepaid expenses and other (832) (400)
Accounts payable and accrued expenses 1,308 1,780
Deferred rent 195 981
Net cash provided by operating activities 12,559 3,615
INVESTING ACTIVITIES    
Purchase of equipment (893) (454)
Tenant improvements to leasehold real estate (351) (1,546)
Net cash used in investing activities (1,244) (2,000)
FINANCING ACTIVITIES    
Borrowing from convertible debt, net of costs 0 750
Repayment of convertible debt in cash (660) (472)
Repayment of unsecured debt in cash (850) 0
Repayment of unsecured notes payable (176) (159)
Proceeds from exercise of stock options 514 0
Net cash provided by (used in) financing activities (1,172) 119
Net increase in cash and restricted cash 10,143 1,734
Cash and restricted cash, beginning of year 2,792 1,058
Cash and restricted cash, end of year 12,935 2,792
Supplemental disclosure of non-cash transactions:    
Conversion of convertible promissory notes and accrued interest to common stock 0 1,805
Value of embedded derivative at inception 0 29
Equity consideration for royalty buy-out 0 2
Accrual for required stock redemptions 0 75
Shares issued in exchange for purchase of inventory 0 202
Purchase of insurance through issuance of note payable 533 149
Supplemental cash flow disclosures:    
Interest paid 153 183
Taxes paid $ 70 $ 44

Source