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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
CASH FLOWS FROM OPERATING ACTIVITIES    
Net loss $ (11,076) $ (2,911)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:    
Provision for bad debts 1,210 21
Provision for obsolete inventory (265) 0
Depreciation and amortization 8,331 7,777
Equity method income 162 0
Change in value of derivative liability (57) 89
Change in value of Earnout share liability [1] 10,191 9,897
Change in fair value of warrant liability [2] 21,461 6,769
Deferred income taxes (1,058) 352
Changes in operating assets and liabilities:    
Trade accounts receivables (18,429) (10,263)
Inventories (21,129) (3,535)
Prepaid expenses 360 0
Other assets (5,849) (11,989)
Trade accounts payable 20,566 4,311
Advances from customers 5,324 (12,388)
Related parties, net (10,766) (8,333)
Other current liabilities 11,266 6,051
CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES 10,242 (14,152)
CASH FLOWS FROM INVESTING ACTIVITIES    
Proceeds from sale of investments 376 368
Proceeds from sale of property and equipment 143 0
Purchase of investments (1,444) (1,028)
Acquisition of property and equipment (18,228) (24,918)
Restricted cash 0 3,605
CASH USED IN INVESTING ACTIVITIES (19,153) (21,973)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from debt 79,608 88,370
Proceeds from the sale of common stock 0 1,000
Repayments of debt (72,461) (62,013)
Merger proceeds held in trust 0 22,519
CASH PROVIDED BY FINANCING ACTIVITIES 7,147 49,876
Effect of exchange rate changes on cash and cash equivalents 2,705 1,127
NET INCREASE IN CASH 941 14,878
CASH - Beginning of period 15,930 2,866
CASH - End of period 16,871 17,744
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION    
Cash paid during the period for Interest 4,778 4,031
Cash paid during the period for Income Tax 11,938 7,785
NON-CASH INVESTING AND FINANCING ACTIVITIES:    
Assets acquired under capital lease 44,624 3,152
Warrant procedes held by trasner agent $ 0 $ 741
[1] Earnout shares - The Company entered into an Agreement and Plan of Reorganization (the “Merger Agreement”) as of August 17, 2013. Pursuant to the Merger Agreement, on the closing date of December 20, 2013, the Company issued 3,000,000 Ordinary Shares (“Earnout Shares”) to be held in escrow and to be released after the closing based on the Company’s achievement of specified share price targets or targets based on Tecnoglass Holding’s net earnings before interest income or expense, income taxes, depreciation, amortization and any expenses arising solely from the merger charged to income (“EBITDA”) in the fiscal years ending December 31, 2014, 2015 or 2016.
[2] Warrants exercises - In previously filed financial statement for the three- and nine-month periods ended September 30, 2015 and 2014, the Company had recorded the fair value of exercised warrants on the date of exercise in the condensed consolidated statement of operations and disclosed the net gain or loss on exercise as a component of the total change in the fair value of the warrant liability. The Company now records the change in fair value from the last reporting date to the date of exercise in the Company’s condensed consolidated statement of operations and records the fair value of the exercised warrants on the date of exercise as a charge to additional paid-in capital in shareholders equity. The correction resulted in changes to the financial statements for the three- and nine- month periods ended September 30, 2015 as the associated warrant exercises commenced on July 6, 2015.