Cynergistek, inc. (CTEK)
CashFlow / TTM
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12
Cash flows from operating activities:
Net (loss) income

-4,507

14,890

16,518

18,935

20,148

1,893

-1,044

-1,109

-1,155

-442

5,011

4,595

5,169

5,009

2,637

2,493

1,196

1,316

526

738

1,375

1,336

1,326

1,396

1,507

1,347

602

-868

-992

-2,381

0

0

0

Adjustments to reconcile net (loss) income to net cash (used for) provided by operating activities:
Stock compensation expense for warrants and options issued to employees and directors

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

Fair value of restricted stock granted for marketing services

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

190

346

388

404

349

0

0

0

Stock compensation for restricted stock units granted to employees and directors

-

-

-

-

-

717

591

492

431

255

0

0

0

-

-

-

-

101

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Note payable issued in consideration of severance pay

-

-

-

-

-

-343

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Stock compensation expense for contingent earn-out stock to be issued to employees

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-

-

-

-

Depreciation

0

-

0

0

0

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Amortization of intangible assets

0

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Change in fair value of derivative liabilities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

Interest expense related to accretion of debt discount costs

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

30

34

48

83

91

122

141

141

141

141

141

141

141

0

0

0

Interest expense related to amortization of loan acquisition costs

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

51

73

87

92

107

123

138

143

128

0

0

0

Change in net deferred tax assets

242

-309

-1,314

-213

-1,275

-974

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Depreciation

-

-

-

-

-

-

-

-

-

383

197

299

253

211

346

185

168

155

142

130

119

107

100

103

113

123

0

0

0

-

0

0

0

Amortization of acquisition-related intangibles

-

-

-

-

-

-

-

-

2,013

2,080

1,828

1,311

926

541

417

558

566

483

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Deferred income taxes

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Bad debt expense

30

0

0

26

123

109

109

192

95

109

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Stock compensation expense for equity awards granted to employees and directors

147

142

79

28

431

36

32

40

65

78

151

184

206

226

195

195

269

277

198

210

133

280

0

0

0

-

-

-

-

-

-

-

-

Interest expense related to loan acquisition costs

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Note payable issued in consideration for severance pay

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Interest expense related to loan acquisition costs

-

-

-

-

-

25

17

9

1

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Gain on sale of discontinued operations before income taxes

0

-

0

0

0

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Changes in operating assets and liabilities:
Accounts receivable

-1,590

-1,818

387

1,408

165

-2,457

-3,227

-1,154

-1,301

2,032

3,823

848

3,056

2,216

322

586

-270

431

1,229

3,098

3,340

2,579

801

-417

-404

-836

85

6,580

2,363

2,660

0

0

0

Unbilled services

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Supplies

0

-75

89

138

23

28

69

-102

67

68

-140

-253

-393

-371

-328

191

316

392

423

152

56

98

-93

-234

-218

-92

121

742

610

407

0

0

0

Prepaid and other current assets

1,236

-527

939

406

638

2,107

-639

-824

695

-227

712

677

-800

-187

-524

-364

44

395

619

545

63

-118

-143

30

239

280

143

198

58

-22

0

0

0

Income taxes receivable

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Deposits

-7

-15

-8

-8

-8

0

0

0

0

45

45

45

45

-16

0

0

0

-

-

-

-

-

-

-

-

-1

0

0

0

-

-

-

-

Deposits

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

Accounts payable and accrued expenses

1,806

1,841

1,889

1,633

560

-221

-2,080

-3,163

-2,193

-2,513

-1,243

-1,124

-1,273

-570

-2,673

-2,517

-1,544

43

1,487

3,373

3,352

2,266

799

254

-1,264

-522

421

-267

3,174

2,822

0

0

0

Income taxes payable

-4,840

504

4,230

4,908

5,312

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Accrued compensation and benefits

-1,332

-2,044

-2,872

-1,781

-1,223

-893

298

-15

478

180

-102

-312

-756

-361

224

-7

539

1,291

798

585

149

-128

156

99

176

-2

146

229

-231

526

0

0

0

Deferred revenue

581

101

1,270

179

941

380

-993

713

-758

-515

264

-323

-372

-350

-406

-357

-50

-39

-34

-63

-194

-100

-134

-86

-79

-34

18

39

584

520

0

0

0

Net cash (used for) provided by operating activities

-4,840

-1,630

1,338

3,640

6,782

6,290

6,771

5,226

3,751

1,433

-48

707

-402

417

1,303

293

1,156

2,445

1,382

1,535

1,800

1,480

2,428

3,130

1,650

2,578

2,130

953

1,798

-29

0

0

0

Cash flows used for investing activities:
Proceeds from sale of net assets of discontinued operations

1,933

26,303

24,070

24,370

24,370

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Purchases of property and equipment

205

194

256

203

170

156

109

147

160

286

84

297

271

205

0

0

0

-

-

-

-

94

0

0

0

-

-

-

-

29

0

0

0

Amount paid to purchase Backbone Enterprises, Inc., net of cash received

-

-

-

-

-

-

-

-

-

13,448

13,448

13,448

13,448

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash (used for) provided by investing activities

-4,037

20,344

23,813

24,167

24,199

-156

-109

-147

-160

-13,734

-13,532

-13,745

-13,720

-205

0

0

0

-

-

-

-

-1,089

0

0

0

-

-

-

-

-29

0

0

0

Cash flows from financing activities:
Proceeds from term loan

-

-

-

-

-

17,250

17,250

17,250

17,250

14,000

14,000

14,000

14,000

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payments on term loan

0

15,401

16,633

17,249

17,249

13,666

13,029

13,008

13,603

3,431

2,961

2,491

2,021

500

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payments on promissory notes to related parties

562

4,656

4,656

4,656

4,656

7,171

7,031

6,890

6,750

0

0

0

0

-

-

-

-

105

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Loan acquisition fees paid

-

-

-

-

-

111

0

0

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payments on capital leases

0

22

45

69

101

115

133

152

163

172

164

151

134

118

111

110

108

104

100

92

85

81

78

80

89

95

102

103

95

85

0

0

0

Net repayments on line of credit agreement

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-

-

-

-

Proceeds from issuance of common stock through stock options and warrants

120

123

11

11

2

0

0

0

33

66

66

66

92

60

0

0

0

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

-

Net cash used for financing activities

-442

-19,956

-21,324

-21,964

-22,005

-3,814

-3,055

-2,912

-3,344

10,462

10,939

11,423

11,936

-558

-551

-602

1,263

1,339

1,472

1,559

-372

-316

-183

-186

443

-89

-329

-475

-119

418

0

0

0

Net increase in cash and cash equivalents

-9,320

-1,242

3,827

5,843

8,977

2,319

3,606

2,166

246

-1,838

-2,641

-1,614

-2,186

-345

169

-639

243

1,693

946

142

353

74

1,173

2,916

2,067

2,477

1,777

448

1,653

358

0

0

0

Supplemental disclosure of cash flow information:
Interest paid

326

797

909

1,447

1,355

1,504

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Income taxes (refunded)

2,079

2,118

264

310

340

366

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Interest paid

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

97

82

67

81

116

0

0

0

-

-

-

-

-

-

-

-

Income taxes paid

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

158

163

181

153

102

0

0

0

-

-

-

-

-

-

-

-

Non-cash investing and financing activities:
Capitalized right-to-use asset resulting from an extension of an operating lease commitment

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Capitalized operating lease liability resulting from an extension of an operating lease commitment

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Capitalized right-to-use asset resulting from the adoption of ASC 842

-

-

-

-

-

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Capitalized operating lease liability resulted from the adoption of ASC 842

-

-

-

-

-

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Property and equipment acquired through capital leases

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

223

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Conversion of convertible notes payable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

-

-

-

-

-

Common stock issued in connection with the acquisition of Backbone Enterprises, Inc.

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

257

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Promissory notes issued in connection with the acquisition of CTEK Security, Inc.

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Fair value of earnout liability in connection with the acquisition of Backbone Enterprises, Inc.

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-