|
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Thousands, unless otherwise specified
|
12 Months Ended |
|
Dec. 31, 2012
|
Dec. 31, 2011
|
| Cash flows from operating activities: |
|
|
| Net Loss |
$ (7,540) |
$ (7,552) |
| Loss (Income) from discontinued operations |
(7,197) |
1,158 |
| Loss from Continuing Operations |
(14,737) |
(6,394) |
| Adjustments to reconcile net loss from continuing operations to net cash provided by operating activities: |
|
|
| Depreciation and amortization |
6,805 |
3,359 |
| Warrants issued for services |
107 |
212 |
| Stock-based compensation expense |
891 |
806 |
| Lease expense in excess of cash |
430 |
700 |
| Amortization of deferred financing costs |
1,959 |
919 |
| Amortization of debt discounts |
817 |
901 |
| Derivative (gain) loss |
1,741 |
(957) |
| (Gain) Loss on debt extinguishment |
(500) |
141 |
| Deferred tax expense |
104 |
7 |
| (Gain) Loss on disposal of assets |
(2) |
111 |
| Gain on acquisitions |
|
(1,104) |
| Provision for bad debts |
4,700 |
1,596 |
| Non cash acquisition costs |
|
206 |
| Other noncash expenses |
40 |
80 |
| Changes in certain assets and liabilities, net of acquisitions: |
|
|
| Accounts receivable |
(12,415) |
(9,334) |
| Prepaid expenses and other |
101 |
522 |
| Other assets |
330 |
(179) |
| Accounts payable and other liabilities |
10,753 |
8,936 |
| Net cash provided by operating activities-continuing operations |
1,124 |
542 |
| Net cash provided by operating activities-discontinued operations |
403 |
1,450 |
| Net cash provided by operating activities |
1,527 |
1,992 |
| Cash flow from investing activities: |
|
|
| Proceeds from sale of property and equipment |
3 |
|
| Change in restricted cash and investments and escrow deposits for acquisitions |
(3,178) |
1,070 |
| Lease deposits |
|
(15) |
| Acquisitions |
(61,901) |
(57,582) |
| Purchase of property and equipment |
(5,777) |
(4,245) |
| Net cash used in investing activities-continuing operations |
(70,853) |
(60,772) |
| Net cash provided by (used in) investing activities-discontinued operations |
11,691 |
(218) |
| Net cash used in investing activities |
(59,162) |
(60,990) |
| Cash flows from financing activities: |
|
|
| Proceeds from debt |
92,476 |
51,864 |
| Repayment on notes payable |
(30,075) |
(2,053) |
| Change in lines of credit |
365 |
6,734 |
| Debt issuance costs |
(3,076) |
(618) |
| Exercise of options and warrants |
137 |
6,795 |
| Proceeds from stock issuances |
3,779 |
|
| Proceeds from preferred stock issuances |
9,159 |
|
| Dividends paid on preferred stock |
(156) |
|
| Net cash provided by financing activities-continuing operations |
72,609 |
62,722 |
| Net cash used in financing activities-discontinued operations |
(6,221) |
(271) |
| Net cash provided by financing activities |
66,388 |
62,451 |
| Net Change in Cash |
8,753 |
3,453 |
| Cash, Beginning |
7,364 |
3,911 |
| Cash decrease due to deconsolidation of variable interest entities |
(180) |
|
| Cash, Ending |
15,937 |
7,364 |
| Cash paid during the year for: |
|
|
| Interest |
13,023 |
6,091 |
| Income taxes |
|
197 |
| Supplemental Disclosure of Non-Cash Activities: |
|
|
| Acquisitions in exchange for debt and equity instruments |
11,056 |
3,150 |
| Warrants issued for financing costs |
756 |
330 |
| Conversion of debt to equity |
|
150 |
| Other assets acquired in exchange of debt |
|
$ 6,441 |