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XPLORE TECHNOLOGIES CORP. |
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Consolidated Statements of Cash Flows—Unaudited |
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(in thousands) |
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Nine Months Ended
December 31, | |
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2017 | | |
2016 | |
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| CASH FLOWS FROM OPERATING ACTIVITIES: | | | | | | |
| Cash (used in) provided by operations: | | | | | | |
| Net loss | | $ | 938 | | | $ | (2,064 | ) |
| Items not affecting cash: | | | | | | | | |
| Depreciation and amortization | | | 1,365 | | | | 1,168 | |
| Provision for doubtful accounts | | | 217 | | | | (44 | ) |
| Loss on disposal of asset | | | - | | | | 28 | |
| Stock-based compensation expense | | | 337 | | | | 413 | |
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| Changes in operating assets and liabilities: | | | | | | | | |
| Accounts receivable | | | (12,998 | ) | | | (1,892 | ) |
| Inventory | | | (13,868 | ) | | | (303 | ) |
| Prepaid expenses and other current assets | | | (4 | ) | | | 325 | |
| Accounts payable and accrued liabilities | | | 7,070 | | | | (2,421 | ) |
| Net cash used in operating activities | | | (16,943 | ) | | | (4,790 | ) |
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| CASH FLOWS FROM INVESTING ACTIVITIES: | | | | | | | | |
| Change in liabilities assumed in purchase of business | | | — | | | | (287 | ) |
| Additions to fixed assets | | | (914 | ) | | | (1,626 | ) |
| Net used in investing activities | | | (914 | ) | | | (1,913 | ) |
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| CASH FLOWS FROM FINANCING ACTIVITIES: | | | | | | | | |
| Proceeds from short-term borrowings | | | 59,444 | | | | 44,976 | |
| Repayment of short-term indebtedness | | | (45,126 | ) | | | (39,880 | ) |
| Net proceeds from issuance of common stock | | | 97 | | | | 112, | |
| Net cash provided by financing activities | | | 14,415 | | | | 5,208 | |
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| CHANGE IN CASH AND CASH EQUIVALENTS | | | (3,442 | ) | | | (1,495 | ) |
| CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD | | | 3,460 | | | | 5,594 | |
| CASH AND CASH EQUIVALENTS, END OF PERIOD | | $ | 18 | | | $ | 4,099 | |
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| SUPPLEMENTAL DISCLOSURE OF CASH FLOWS: | | | | | | | | |
| Payments for interest | | $ | 247 | | | $ | 156 | |
| Payments for income taxes | | $ | — | | | $ | 129 | |
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