XML 16 R6.htm IDEA: XBRL DOCUMENT v3.8.0.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Cash flows from operating activities:    
Net loss $ (2,964) $ (2,495)
Adjustments to reconcile net loss to net cash used in operating activities:    
Deferred income tax provision (benefit)   18
Equity income from foreign joint ventures’ operations (171) (52)
Depreciation and amortization 190 218
Stock based compensation 162 89
Bad debt expense 15 15
Obsolete inventory expense   66
Deferred compensation costs (12) (12)
Amortization of debt issuance costs 28 7
Change in operating assets and liabilities:    
Accounts receivable 321 1,923
Inventories (611) 157
Costs and estimated earnings in excess of billings on uncompleted contracts 2,154 (669)
Prepaid expenses and other current assets 196 (46)
Accounts payable (2,203) (61)
Billings in excess of costs and estimated earnings on uncompleted contracts 479 508
Accrued liabilities and other current liabilities 902 (624)
Net cash used in operating activities (1,514) (958)
Cash flows from investing activities:    
Purchases of property, plant and equipment and other assets (79) (71)
Net cash used in from investing activities (79) (71)
Cash flows from financing activities:    
Proceeds from sale of common stock, preferred stock, and warrants 5 4
Treasury stocks purchase (18)  
Proceeds from long-term notes payable   7,000
Payments on revolving credit facility   (1,500)
Payments on long-term notes payable   (4,200)
Payments on short-term notes payable (59)  
Payments of debt issuance costs   (342)
Net cash (used in) provided by financing activities (72) 962
Effect of exchange rate changes on cash 3 8
Net decrease in cash and cash equivalents (1,662) (59)
Cash and cash equivalents, beginning of period 2,289 1,618
Cash and cash equivalents, end of period 627 1,559
Supplemental disclosures of cash flow information:    
Interest paid 266 89
Non-cash investing and financing transactions:    
Issuance of shares of common stock on accrued preferred dividends payables $ 75 $ 300