• Filing Date: 2019-11-15
  • Form Type: 10-Q/A
  • Description: Quarterly report (Amendment)
v3.19.3
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION
9 Months Ended
Sep. 30, 2019
Supplemental Cash Flow Information [Abstract]  
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION

   Supplemental disclosures of cash flow information for the nine months ended September 30, 2019 and 2018 were as follows:

 

    For the Nine Months Ended September 30,  
    2019     2018  
    (Dollars in thousands)  
Cash paid for interest - continuing operations   $ 1,544     $ 298  
Cash paid for interest - held for sale operations     220       96  
Cash paid for taxes - held for sale operations     12       -  
Non-cash investing and financing activities                
Property and equipment - continuing operations     39       -  
Accounts payable - continuing operations     (39 )     -  
Property and equipment - held for sale operations     -       32  
Notes payable - held for sale operations     -       (32 )
Proceeds from short-term borrowing arrangement transferred to settle line of credit     312       -  
Repayment of line of credit     (312 )     -  
Business combinations, net of cash                
Current assets     415       -  
Intangible assets     7,436       386  
Goodwill     4,934       -  
Current liabilities     (388 )     -  
Cash paid acquisition of OpenALPR Technology     (7,000 )     -  
Note issued acquisition of OpenALPR Technology     (5,000 )        
Issuance of common stock     (397 )     (163 )
Issuance of common stock warrants     -       (123 )
Sale of Secured Education                
Current assets     (58 )     -  
Intangible assets sold     (250 )     -  
Current liabilities     54       -  
Loss on sale     3       -  
Financing                
Notes payable - continuing operations     21,000          
Debt discount financing costs     (2,599 )     -  
Extinguishment of debt     (1,113 )     -  
Repayment of notes payable and interest expense, net of debt discount     (2,515 )     -  
Investment in OpenALPR Technology     (12,000 )     -  
Issuance of warrants in conjunction with notes payable     706          
Accounts Payable     360       -  
Proceeds from notes payable     3,839          
Common stock issued in connection with note payable     -       126  
Adoption of ASC-842 Lease Accounting:                
Right-of-use lease asset     1,212       -  
Deferred rent     30       -  
Lease liability   $ (1,242 )   $ -  

 

For the nine months ended September 30, 2019 and 2018, the Company paid cash dividends of $0 and $264,000, respectively, to shareholders of record of Series A Preferred Stock. Accrued dividends payable to Series A Preferred Stock shareholders were $440,000 and $176,000 as of September 30, 2019 and December 31, 2018, respectively, and is presented as part of accounts payable and accrued expenses on the accompanying condensed consolidated balance sheets.

   

For the nine months ended September 30, 2019 and 2018, the Company paid cash dividends of $108,000 and $81,000, respectively, to shareholders of record of Series B Preferred Stock. Accrued dividends payable to Series B Preferred Stock shareholders were $27,000 and $54,000 as of September 30, 2019 and December 31, 2018, respectively, and is presented as part of accounts payable and accrued expenses on the accompanying unaudited condensed consolidated balance sheets.