Flexshopper, inc. (FPAY)
CashFlow / Quarterly
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'12Dec'11Sep'11Jun'11Mar'11
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income

51

-1,004

1,387

-309

503

-2,482

-2,717

-1,974

-2,286

-3,985

-1,727

-1,563

-1,054

-3,493

-2,613

-3,532

-2,613

-3,439

-2,149

-1,808

-1,393

-1,510

-1,005

-267

-946

-466

-265

-15

52

62

111

168

36

-

-

-

-

Adjustments to reconcile net income/(loss) to net cash provided by (used in) operating activities:
(Income) from discontinued operation before income taxes

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-0

131

74

1,742

-85

-354

-157

-

-

-

-

-

-

-

-

-

-

-

-

(Income) loss from discontinued operation

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

265

-37

0

-

-

-

-

-

-

-

-

Net income

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

61

173

21

Loss from discontinued operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-4

Depreciation and impairment of lease merchandise

16,196

14,465

14,248

14,260

15,277

10,954

10,289

8,987

10,407

6,719

8,146

8,126

8,460

5,917

5,525

5,601

5,689

3,634

2,759

2,123

2,234

2,118

8

18

14

38

0

0

0

4

5

4

5

5

5

5

5

Impairment of lease merchandise

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

55

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

Other depreciation and amortization

554

644

642

652

584

560

658

623

568

554

533

513

489

455

413

376

320

341

304

273

154

-1,153

874

396

48

0

0

0

0

-

-

-

-

-

-

-

-

Compensation expense related to issuance of stock options and warrants

215

192

158

335

36

32

28

22

49

49

22

19

22

12

45

57

20

20

29

14

13

156

41

10

231

49

0

0

0

23

2

4

1

1

1

1

0

Compensation expense related to issuance of warrants

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

2

-

-

-

-

-

-

-

-

-

-

-

-

Provision for doubtful accounts

7,682

9,762

9,300

8,429

7,344

6,675

5,905

5,483

5,175

4,777

4,681

4,759

4,915

4,020

3,501

3,194

2,564

1,923

1,672

1,228

822

787

451

132

9

0

0

0

0

-

-

-

-

-

-

-

-

Interest in kind added to promissory notes balance

141

-

-

-

167

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Changes in operating assets and liabilities:
Accounts receivable

7,870

10,058

10,379

8,816

7,479

8,235

6,616

5,813

4,690

5,642

5,684

5,031

4,854

4,820

3,801

3,425

2,663

2,309

1,631

1,473

855

890

457

139

21

0

0

0

0

-

-

-

-

-

-

-

-

Decrease (increase) in retained interest in purchased accounts receivable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

681

-2,950

2,162

857

376

-160

-1,108

-405

Decrease (increase) in earned but uncollected

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

34

-67

66

-21

31

-28

1

-51

Prepaid expenses and other

87

62

91

181

17

134

-201

-301

361

-19

-124

-19

130

32

-227

183

136

-91

154

-4

65

-44

4

30

71

50

0

0

0

29

-4

3

1

-27

20

-23

1

Lease merchandise

-15,032

-21,187

-14,165

-10,503

-11,095

-24,992

-10,809

-7,838

-7,947

-16,983

-5,782

-5,507

-6,025

-13,686

-6,832

-5,557

-4,024

-8,980

-3,565

-3,089

-2,079

-3,036

-1,828

-1,363

-692

-8

0

0

0

-

-

-

-

-

-

-

-

Security deposits

2

7

42

19

-60

-

-

-

-

0

-4

0

-5

-1

0

-1

1

0

-11

0

0

2

0

0

-47

-9

0

0

0

-

-

-

-

-

-

-

-

Accounts payable

-1,406

1,842

88

-534

-5,211

2,388

1,627

-483

-2,704

4,972

148

246

-1,583

1,332

-563

1,181

182

725

-321

381

161

671

-224

35

333

20

0

0

0

35

-11

-10

27

-11

3

-75

70

Accrued payroll and related taxes

-220

281

-132

169

-197

168

-140

190

-229

255

-122

152

-177

171

-155

165

-136

-49

95

-14

88

-37

52

-11

60

68

0

0

0

17

-1

-4

-2

7

4

-8

2

Decrease in collected but not earned

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

6

-9

-1

-4

-5

-15

7

10

Accrued expenses

330

411

194

-190

-320

428

20

111

-3

491

-36

-65

145

-138

19

-5

46

77

-19

74

7

75

10

85

27

3

0

0

0

-11

37

0

3

-10

6

-20

-19

Compensation expense related to issuance of warrants

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1

0

0

0

-

5

5

3

-

-

-

-

Net cash used in operating activities - continuing operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-7,964

-2,992

-2,472

-932

-2,793

-2,166

-1,490

-1,210

-541

0

0

0

-

3,185

-2,058

-766

-

-

-

-

Net cash provided by operating activities - discontinued operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

17

130

56

138

181

1,344

-31

-277

2,296

610

-888

-

-

-

-

-

-

-

-

Net cash provided by (used in) operating activities

558

-4,460

6,686

-2,229

-466

-14,324

-1,423

-389

-2,023

-8,772

300

1,670

202

-10,262

-4,232

-2,128

-748

-7,964

-2,974

-2,341

-875

-2,655

-1,984

-145

-1,241

-818

2,296

-278

0

-

-

-

-

-357

234

1,213

541

CASH FLOWS FROM INVESTING ACTIVITIES
Purchases of property and equipment, including capitalized software costs

646

576

559

551

553

532

730

714

307

534

507

502

477

418

518

514

403

307

472

325

222

380

263

472

39

67

0

0

0

2

10

1

2

0

13

1

3

Net cash (used in) investing activities - continuing operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-222

-380

-263

-472

-39

-98

0

0

0

-

-

-

-

-

-

-

-

Net cash used in investing activities - discontinued operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

69

-49

-20

-13

-

-

-

-

-

-

-

-

Net cash used in investing activities

-646

-576

-559

-551

-553

-532

-730

-714

-307

-534

-507

-502

-477

-418

-518

-514

-403

-307

-472

-325

-222

-39

-263

3,972

-39

-29

-49

-20

-13

-2

-10

-1

-2

-0

-13

-1

-3

CASH FLOWS FROM FINANCING ACTIVITIES
Principal payment under finance lease obligation

1

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Refund of equity issuance related costs

-

38

0

10

13

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from exercise of warrants

131

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from sale of common stock, net of related costs of $801,806

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

8,548

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

(Payments to) proceeds from financial institution, net

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-214

-1,494

1,273

986

581

-386

-1,237

-137

Net cash (used in) provided by financing operations - continuing operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

8,397

1,117

2,297

3,997

150

1,000

0

0

0

-

-

-

-

-

-

-

-

Net cash used in financing operations - discontinued operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-39

-242

-4,093

1,134

-452

-1,730

-541

988

-

-

-

-

-

-

-

-

Payments to lender

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

240

50

Proceeds from promissory notes, net of fees

-

0

0

500

2,940

0

0

0

3,465

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from loan payable under credit agreement

1,900

9,872

1,165

117

1,241

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds of loans from shareholder

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

1,000

-1,000

0

1,000

-1,000

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Repayment of loan payable under credit agreement

-3,353

-1,287

-1,272

-2,589

-6,665

-173

-3,365

-565

-5,855

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Repayment of loan payable under credit agreement

-

-

-

-

-

-

-

-

-

0

1,500

788

0

0

0

1,820

2,351

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Repayment of installment loan

2

2

2

2

2

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

(Repayment) proceeds of loans from shareholder

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

850

150

0

0

0

0

-

-

-

-

-

-

-

-

Debt issuance related costs

-

-

-

-

-

-

-

-1,619

1,550

10,450

0

0

0

3,000

0

1,191

750

7,000

325

275

849

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Net cash used in financing activities

-1,326

8,732

-354

-2,465

-2,474

13,716

7,379

1,361

-840

10,449

-1,500

-773

0

3,000

28

18,816

-601

7,000

325

275

8,397

1,078

2,055

-96

1,284

547

-1,730

-541

988

-214

-2,578

2,356

986

581

-386

-1,477

-187

DECREASE IN CASH

-1,413

3,696

380

144

-3,494

-1,140

5,226

257

-3,170

1,143

-1,707

395

-274

-7,680

-4,722

16,174

-1,754

-1,271

-3,122

-2,392

7,298

-1,616

-192

3,729

2

-301

515

48

86

-806

596

296

217

223

-164

-265

350

Supplemental cash flow information:
Interest paid

985

905

764

942

993

702

681

668

754

469

763

34

381

335

344

418

361

189

166

50

36

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

Deemed dividend from exchange offer of warrants

713

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Non-cash financing activities:
Conversion of preferred stock to common stock

-

0

0

0

341

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Conversion of preferred stock to common stock

-

0

0

0

341

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-