|
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 Loss |
$ (2,413) |
$ (941) |
| Loss from discontinued operations, net of Tax |
109 |
35 |
| Loss from continuing operations |
(2,304) |
(906) |
| Adjustments to reconcile net loss from continuing operations to net cash provided by operating activities: |
|
|
| Depreciation and amortization |
1,710 |
647 |
| Warrants issued for services |
|
32 |
| Stock-based compensation expense |
190 |
358 |
| Lease expense in excess of cash |
157 |
193 |
| Amortization of deferred financing costs |
337 |
132 |
| Amortization of debt discounts |
213 |
216 |
| Derivative (gain) loss |
(410) |
1,350 |
| Deferred tax expense |
9 |
45 |
| (Gain) loss on disposal of assets |
(2) |
21 |
| Gain on acquisitions |
|
(1,104) |
| Provision for bad debts |
918 |
102 |
| Other noncash items |
|
24 |
| Changes in certain assets and liabilities, net of acquisitions: |
|
|
| Accounts receivable |
(3,051) |
(2,587) |
| Prepaid expenses and other |
(200) |
(487) |
| Other assets |
180 |
(128) |
| Accounts payable and accrued expenses |
3,860 |
2,715 |
| Net cash provided by operating activities - continuing operations |
1,607 |
623 |
| Net cash (used in) provided by operating activities - discontinued operations |
(105) |
160 |
| Net cash provided by operating activities |
1,502 |
783 |
| Cash flows from investing activities: |
|
|
| Proceeds from sales of property and equipment |
3 |
|
| Change in restricted cash and investments and escrow deposits for acquisitions |
566 |
573 |
| Acquisitions |
(7,919) |
(5,595) |
| Purchase of property and equipment |
(463) |
(468) |
| Net cash used in investing activities - continuing operations |
(7,813) |
(5,490) |
| Net cash used in investing activities |
(7,813) |
(5,490) |
| Cash flows from financing activities: |
|
|
| Proceeds from debt |
8,488 |
8,138 |
| Debt issuance costs |
(206) |
(123) |
| Change in lines of credit |
(556) |
3,013 |
| Exercise of warrants and options |
23 |
|
| Proceeds from stock issuances, net |
3,641 |
|
| Repayment of notes payable |
(1,215) |
(482) |
| Net cash provided by financing activities - continuing operations |
10,175 |
10,546 |
| Net cash used in financing activities - discontinued operations |
(48) |
(46) |
| Net cash provided by financing activities |
10,127 |
10,500 |
| Net Change in Cash |
3,816 |
5,793 |
| Cash, Beginning |
7,364 |
3,911 |
| Cash decrease due to deconsolidation of variable interest entities (Note 2) |
(180) |
|
| Cash, Ending |
11,000 |
9,704 |
| Cash paid during the period for: |
|
|
| Interest |
2,554 |
1,017 |
| Supplemental Disclosure of Non-cash Activities: |
|
|
| Acquisitions in exchange for debt and equity instruments |
5,000 |
|
| Warrants issued for financings costs |
276 |
330 |
| Non-cash debt issuance costs |
|
$ 361 |