• Filing Date: 2021-03-31
  • Form Type: 10-K
  • Description: Annual report
v3.21.1
Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Cash flows from operating activities:    
Net income (loss) from continuing operations $ 3,086,000 $ (2,595,000)
Adjustments to reconcile net income (loss) from continuing operations to net cash used by operating activities:    
Depreciation and amortization 1,084,000 1,151,000
Stock based compensation 188,000 422,000
Income from equity investment (604,000)
Unrealized gains (10,609,000)
Gain on extinguishment of debt (969,000)
Deferred tax benefit 1,774,000 (125,000)
Amortization of deferred financing cost and debt discounts 2,000
Decrease (increase) in assets:    
Accounts receivable (309,000) (1,659,000)
Inventory (705,000) (848,000)
Prepaid expenses and other current assets (499,000) (154,000)
Other assets 355,000
Increase (decrease) in liabilities:    
Accounts payable (201,000) 392,000
Accrued expenses 4,230,000 (307,000)
Deferred revenue and customer deposits 21,000
Other liabilities 1,044,000 (1,750,000)
Net cash used by operating activities (5,683,000) (5,450,000)
Cash flows from investing activities:    
Purchase of property, plant and equipment (325,000) (947,000)
Purchase of investments (9,791,000) (1,829,000)
Note receivable investment (574,000) (793,000)
Purchase of intangible assets (370,000)
Net cash used by investing activities (10,690,000) (3,939,000)
Cash flows from financing activities:    
Payments of long-term debt (304,000) (167,000)
Borrowings of long-term debt 1,278,000
Borrowings from lines of credit, net 588,000
Payments of revolving lines of credit, net (500,000) 500,000
Borrowings from convertible of note 500,000
Issuances of common stock, net of issuance costs 20,195,000 6,659,000
Net cash provided by financing activities 20,669,000 8,080,000
Cash flows from discontinued operations:    
Cash (used) provided by operations (469,000) 106,000
Cash provided (used) by investing activities 880,000 (42,000)
Cash used by financing activities (577,000) (107,000)
Net cash used by discontinued operations (166,000) (43,000)
Net increase (decrease) in cash and cash equivalents 4,130,000 (1,352,000)
Cash and cash equivalents at beginning of year 1,096,000 2,448,000
Cash and cash equivalents at end of year $ 5,226,000 $ 1,096,000