Cash Flow

v3.10.0.1
Condensed Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
OPERATING ACTIVITIES    
Net income $ 611 $ 2,505
Adjustments to reconcile to net income to net cash provided by operating activities:    
Depreciation 1,717 1,716
Amortization 1,910 1,910
Share-based compensation 374 231
Deferred income tax (benefit) (147) (947)
Loss on sale of fixed assets 6 46
Amortization of deferred finance cost 107 163
Loss on debt extinguishment   83
Bad debt expense 29 17
Changes in operating assets and liabilities    
Trade receivables 622 (3,509)
Net trade receivables/payables from affiliates (275) 194
Inventory (6,887) 5,635
Prepaid expenses 78 (144)
Trade accounts payable 1,749 2,233
Accrued expenses (1,111) (1,444)
Tax payable   31
Other long-term liabilities (35) 39
Net cash (used in) provided by operating activities (1,252) 8,759
INVESTING ACTIVITIES    
Decrease in restricted cash   535
Purchase of property and equipment (828) (474)
Net cash (used in) provided by investing activities (828) 61
FINANCING ACTIVITIES    
Principal payments on long-term debt (1,497) (1,826)
Proceeds from long-term note 425  
Debt issuance costs incurred   (9)
Proceeds from issuance of common stock, net of offering costs   10,405
Net payments on debt   (10,405)
Shares repurchased for income tax withholding on share-based compensation (76)  
Net borrowings (payments) on revolving credit facilities 3,230 (7,549)
Net cash provided by (used in) financing activities 2,082 (9,384)
NET CHANGE IN CASH 2 (564)
Cash at beginning of period 3 572
Cash at end of period $ 5 $ 8

Source