|
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Thousands, unless otherwise specified
|
3 Months Ended |
|
Mar. 31, 2012
|
Mar. 31, 2011
|
| Cash Flows from Operating Activities: |
|
|
| Net Income (Loss) |
$ 1,249 |
$ (6,772) |
| Adjustments to reconcile net income (loss) to net cash used in operating activities: |
|
|
| Stock and options issued for services and compensation |
155 |
112 |
| Warrant expense |
0 |
1,784 |
| Depreciation and amortization |
3,028 |
253 |
| Change in restricted cash |
87 |
580 |
| Gain on settlement of capital lease termination |
(147) |
0 |
| Changes in operating assets and liabilities: |
|
|
| Accounts receivable |
(2,008) |
(657) |
| Inventory |
(7,265) |
(2,100) |
| Prepaid expenses and other current assets |
(389) |
(1,671) |
| Accounts payable |
(4,975) |
1,526 |
| Accrued liabilities |
3,464 |
1,867 |
| Net cash used in operating activities |
(6,801) |
(5,078) |
| Cash Flows from Investing Activities: |
|
|
| Purchase of property and equipment |
(3,584) |
(1,304) |
| Purchase of intangibles |
(111) |
(43) |
| Net cash used in investing activities |
(3,695) |
(1,347) |
| Cash Flows from Financing Activities: |
|
|
| Proceeds on sale of common stock, net of expenses |
0 |
9,325 |
| Proceeds on settlement of capital lease termination |
57 |
0 |
| Payments on note payable |
(100) |
0 |
| Proceeds from borrowing on notes payable |
5,000 |
0 |
| Net cash provided by financing activities |
4,957 |
9,325 |
| Effect of exchange rate changes on cash and cash equivalents |
(4) |
(6) |
| Net increase (decrease) in cash and cash equivalents |
(5,543) |
2,894 |
| Cash and cash equivalents - beginning of period |
9,591 |
3,845 |
| Cash and cash equivalents - end of period |
4,048 |
6,739 |
| Supplemental Disclosures of Cash Flow Information: |
|
|
| Cash paid for interest |
84 |
16 |
| Assets disposed of during the settlement agreement and release of capital lease |
$ 1,579 |
$ 0 |