Cash Flow

v3.8.0.1
Condensed Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
OPERATING ACTIVITIES    
Net income $ 2,505 $ 949
Adjustments to reconcile to net income to net cash provided by operating activities:    
Depreciation 1,716 1,537
Amortization 1,910 1,910
Share-based compensation 231  
Deferred income tax (benefit) (947)  
Loss on sale of fixed assets 46 20
Amortization of deferred finance cost 163 438
Loss on debt extinguishment 83  
Bad debt expense 17 44
Inventory reserves 377 96
Changes in operating assets and liabilities    
Trade receivables (3,509) (157)
Net trade receivables/payables from affiliates 194 (721)
Inventory 5,258 (3,950)
Prepaid expenses (144) (43)
Trade accounts payable 2,233 (985)
Accrued expenses (1,444) (1,186)
Tax payable 31  
Other long-term liabilities 39 (41)
Net cash provided by (used in) operating activities 8,759 (2,089)
INVESTING ACTIVITIES    
Decrease in restricted cash 535  
Purchase of property and equipment (474) (279)
Net cash provided by (used in) investing activities 61 (279)
FINANCING ACTIVITIES    
Principal payments on term debt (1,826) (5,500)
Debt issuance costs incurred (9) (108)
Members equity contribution   5,000
Proceeds from issuance of common stock, net of offering costs 10,405  
Net payments on debt (10,405)  
Net payments on revolving credit facilities (7,549) 2,978
Net cash provided by (used in) financing activities (9,384) 2,370
NET CHANGE IN CASH (564) 2
Cash at beginning of period 572 3
Cash at end of period $ 8 $ 5

Source