Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows (Unaudited)

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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Operating Activities:    
Consolidated net loss $ (9,497) $ (13,485)
Adjustments to reconcile consolidated net loss to net cash provided by operating activities:    
Depreciation and amortization of intangibles 10,164 9,110
Deferred income taxes (563)
Inventory valuation adjustment 2,086
Amortization of debt discount 178 136
Non-cash compensation 736 1,221
Amortization of deferred financing fees 465 91
Loss (gain) on derivatives 462 (216)
Fair value adjustments (455)
Bad debt expense 47 7
Changes in operating assets and liabilities:    
Accounts receivable 6,080 22,250
Inventories (8,712) (61)
Prepaid expenses and other assets 1,370 (2,412)
Prepaid inventory (328) 2,033
Accounts payable and accrued liabilities 8,508 (8,213)
Net cash provided by operating activities 8,910 12,092
Investing Activities:    
Additions to property and equipment (4,357) (4,111)
Net cash used in investing activities (4,357) (4,111)
Financing Activities:    
Net proceeds (payments) on Kinergy's line of credit 8,722 (1,358)
Proceeds from assessment financing 331
Principal payments on borrowings (5,000) (1,000)
Principal payments on capital leases (403) (190)
Proceeds from exercise of warrants 37
Debt issuance costs (14)
Preferred stock dividends paid (312) (312)
Net cash used in financing activities 3,338 (2,837)
Net decrease in cash and cash equivalents 7,891 5,144
Cash and cash equivalents at beginning of period 49,489 [1] 68,590
Cash and cash equivalents at end of period 57,380 73,734
Supplemental Information:    
Interest paid 3,593 2,403
Income taxes received $ 168 $ 3
[1] Amounts derived from the audited financial statements for the year ended December 31, 2017