|
Condensed Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
|
6 Months Ended |
|
Jun. 30, 2013
|
Jun. 30, 2012
|
| Operating activities |
|
|
| Net loss |
$ (6,701) |
$ (4,374) |
| Adjustments to reconcile net loss to net cash used in operating activities: |
|
|
| Depreciation |
411 |
580 |
| Amortization |
|
195 |
| Share-based compensation |
208 |
293 |
| Deferred income tax benefit |
|
(2,796) |
| Deferred interest on related party debt |
368 |
|
| Change in fair value of common stock warrant liability |
(690) |
|
| Changes in operating assets and liabilities, net of effects from acquisitions: |
|
|
| Accounts receivable, net |
3,707 |
6,990 |
| Costs in excess of billings on uncompleted contracts |
2,539 |
2,803 |
| Inventory, net |
1,014 |
4,090 |
| Other current assets |
1,309 |
(341) |
| Accounts payable |
(5,768) |
(20,031) |
| Accrued liabilities |
(1,350) |
(635) |
| Billings in excess of costs on uncompleted contracts |
(501) |
390 |
| Other current liabilities |
53 |
(1,726) |
| Net cash used in operating activities |
(5,401) |
(14,562) |
| Investing activities |
|
|
| Purchase of property and equipment |
(16) |
(288) |
| Change in restricted cash |
|
172 |
| Net cash used in investing activities |
(16) |
(116) |
| Financing activities |
|
|
| Proceeds from issuance of common stock and warrants, net |
8,414 |
|
| Principal borrowings (payments) on revolving line of credit, net |
(6,498) |
6,500 |
| Principal payments on debt and capital lease obligations, net |
(108) |
(190) |
| Exercise of stock options |
78 |
|
| Principal (repayments) borrowings from related party |
|
3,150 |
| Net cash provided by financing activities |
1,886 |
9,460 |
| Net change in cash |
(3,531) |
(5,218) |
| Cash at beginning of period |
10,390 |
11,813 |
| Cash at end of period |
6,859 |
6,595 |
| Supplemental cash flow information |
|
|
| Income taxes paid |
8 |
47 |
| Interest paid |
278 |
134 |
| Non-cash items |
|
|
| Class A common stock issued in conjunction with debt conversion, 62,111 shares |
100 |
|
|
Equity Funding
|
|
|
| Non-cash items |
|
|
| Issuance of warrants |
4,392 |
|
|
Debt Extension
|
|
|
| Non-cash items |
|
|
| Issuance of warrants |
$ 278 |
|