XML 32 R6.htm IDEA: XBRL DOCUMENT v3.19.1
Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Operating activities    
Net income $ 1,625,000 $ 1,177,000
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation and amortization 2,109,000 2,126,000
Bad debt expense, net of recoveries 196,000 113,000
Deferred income tax expense (benefit) 81,000 1,639,000
Share based compensation 186,000 225,000
Changes in operating assets and liabilities, net of business acquisitions:    
Accounts receivable, net (9,296,000) (2,423,000)
Prepaid expenses and other assets 852,000 (1,396,000)
Accounts payable (144,000) 1,810,000
Accrued expenses, other current liabilities and customer incentives and deposits 6,441,000 3,501,000
Net cash provided by operating activities 2,050,000 6,772,000
Investing activities    
Purchases of property and equipment and capitalized software (1,622,000) (1,448,000)
Purchase of Resource Plus subsidiary, net of cash acquired 767,000
Net cash used in investing activities (855,000) (1,448,000)
Financing activities    
Net borrowing (payments) on lines of credit 1,700,000 (2,070,000)
(Payments) proceeds related to stock options exercised (52,000) 10,000
Proceeds from term debt 872,000
Payments on term debt 333,000 (711,000)
Purchase of treasury shares (121,000)
Distribution to non-controlling investors (1,914,000) (2,198,000)
Payments on capital lease obligations (72,000) (44,000)
Net cash provided by (used in) financing activities 201,000 (5,134,000)
Effect of foreign exchange rate changes on cash (3,112,000) 1,313,000
Net change in cash and cash equivalents (1,716,000) 1,503,000
Cash and cash equivalents at beginning of year 8,827,000 7,324,000
Cash and cash equivalents at end of year 7,111,000 8,827,000
Supplemental disclosure of cash flows information    
Interest paid (994,000) (460,000)
Income taxes paid $ 309,000 $ 307,000