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Unaudited Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Cash flows from operating activities        
Net income (loss) $ 9,189 $ (1,814) $ 5,450 $ (4,442)
Adjustments to reconcile net income (loss) to net cash used in operating activities:        
Depreciation and amortization expense 1,812 1,848 3,632 3,058
Amortization of deferred finance costs included in interest expense     156 109
Stock-based compensation 485 431 517 591
Provision for doubtful accounts     90 132
Loss on early extinguishment of debt 2,324 821 2,324 821
Deferred income tax provision (benefit)     1,384 (1,484)
Gain on sale of majority interest in Isaac Mizrahi brand (20,608)   (20,608)  
Changes in operating assets and liabilities:        
Accounts receivable     (1,741) (2,392)
Inventory     (100) (1,930)
Prepaid expenses and other current and non-current assets     8 (174)
Accounts payable, accrued expenses, accrued payroll, accrued income taxes payable, and other current liabilities     552 192
Lease-related assets and liabilities     (159) (225)
Other liabilities     (224)  
Net cash used in operating activities     (8,719) (5,744)
Cash flows from investing activities        
Net proceeds from sale of majority interest in Isaac Mizrahi brand     45,408  
Cash consideration for acquisition of Lori Goldstein assets       (1,616)
Purchase of other intangible assets       (37)
Purchase of property and equipment     (85) (747)
Net cash provided by (used in) investing activities     45,323 (2,400)
Cash flows from financing activities        
Proceeds from exercise of stock options       5
Shares repurchased including vested restricted stock in exchange for withholding taxes     (442)  
Proceeds from revolving loan debt       1,500
Proceeds from long-term debt       25,000
Payment of deferred finance costs       (1,131)
Payment of long-term debt     (29,000) (17,375)
Payment of prepayment, breakage and other fees associated with early extinguishment of long-term debt     (1,511) (367)
Net cash (used in) provided by financing activities     (30,953) 7,632
Net increase (decrease) in cash, cash equivalents, and restricted cash     5,651 (512)
Cash, cash equivalents, and restricted cash at beginning of period     5,222 6,066
Cash, cash equivalents, and restricted cash at end of period 10,873 5,554 10,873 5,554
Reconciliation to amounts on condensed consolidated balance sheets:        
Cash and cash equivalents 10,873 4,815 10,873 4,815
Restricted cash   739   739
Total cash, cash equivalents, and restricted cash $ 10,873 $ 5,554 10,873 5,554
Supplemental disclosure of non-cash activities:        
Consideration payable to seller of Lori Goldstein assets       2,045
Contingent obligation related to acquisition of Lori Goldstein assets at fair value       6,639
Liability for equity-based bonuses     (283) 62
Supplemental disclosure of cash flow information:        
Cash paid during the period for interest     $ 1,032 852
Cash paid during the period for income taxes       $ 15