• Filing Date: 2020-08-03
  • Form Type: 10-Q
  • Description: Quarterly report
v3.20.2
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
CASH FLOWS FROM OPERATING ACTIVITIES    
Net loss from continuing operations $ (4,193) $ (5,509)
Net loss from held for sale and discontinued operations (213) (2,293)
Net loss (4,406) (7,802)
Adjustments to reconcile net loss to net cash used in operating activities:    
Bad debt expense 5 0
Depreciation 169 152
Amortization of right-of-use lease asset 85 23
Share-based compensation 337 238
Amortization of financing costs 611 436
Amortization of intangible assets 635 364
Loss on extinguishment of debt 200 1,113
Gain on sale of AOC Key Solutions (2,619) 0
Gain on sale of Team Global (1,017) 0
Loss on sale of Secure Education 0 3
Changes in operating assets and liabilities    
Accounts receivable (1,116) (32)
Inventory (375) (141)
Other current assets (136) (78)
Accounts payable and accrued expenses 1,096 (288)
Contract liabilities 180 863
Lease liability (96) (57)
Net cash used in operating activities continuing operations (6,234) (2,913)
Net cash (used in) provided by operating activities, held for sale operations (3,887) (829)
Net cash used in operating activities (10,121) (3,742)
CASH FLOWS FROM INVESTING ACTIVITIES    
Proceeds from sale of Secure Education 0 250
Proceeds from sale of AOC Key Solutions 3,400 0
Proceeds from sale of Team Global 2,300 0
Capital expenditures (447) (515)
Net cash (used in) provided by investing activities, continuing operations 5,253 (265)
Net cash provided by investing activities - held for sale operations 0 0
Net cash (used in) provided by investing activities 5,253 (265)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from PPP loan 874 0
Repayments of notes payable (2,200) 0
Net proceeds from notes payable 0 3,839
Net proceeds from exercise of options 242 0
Net proceeds from exercise of warrants 411 0
Net proceeds from exercise of warrants associated to series A preferred stock 60 0
Net proceeds from at-the-market agreement 2,177 0
Payment of debt modification costs (300) 0
Net cash provided by financing activities continuing operations 1,264 3,839
Net cash provided by (used in) financing activities held for sale operations 4,171 1,068
Net cash provided by financing activities 5,435 4,907
Net increase (decrease) in cash, cash equivalents and restricted cash, continuing operations 283 661
Net increase (decrease) in cash, cash equivalents and restricted cash and cash equivalents held for sale operations and discontinued operations 284 239
Net increase (decrease) in cash, cash equivalents and restricted cash and cash equivalents 567 900
Cash, cash equivalents and restricted cash and cash equivalents at beginning of period 1,866 2,768
Cash, cash equivalents and restricted cash and cash equivalents at end of period 2,433 3,668
Reconciliation of cash, cash equivalents and restricted cash and cash equivalents:    
Cash and cash equivalents at end of period 1,933 2,743
Restricted cash and cash equivalents at end of period 496 572
Cash and cash equivalents at end of period held for sale operations 4 353
Cash, cash equivalents and restricted cash and cash equivalents at end of period $ 2,433 $ 3,668