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

125

577

-901

-5,006

-6,671

-9,461

-10,964

-9,974

-9,562

-8,330

-7,838

-8,724

-10,694

-12,253

-12,198

-11,735

-10,011

-8,791

-6,862

-5,718

-4,177

-3,730

-2,685

-1,945

-1,693

-693

-164

211

395

378

0

0

0

-

-

-

-

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

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

206

1,948

1,863

1,377

1,145

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

(Income) loss from discontinued operation

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

-

-

-

-

-

Net income

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

Loss from discontinued operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-4

0

0

0

Depreciation and impairment of lease merchandise

59,172

58,253

54,741

50,782

45,509

40,639

36,404

34,260

33,400

31,453

30,651

28,030

25,505

22,734

20,451

17,686

14,208

10,752

9,236

6,484

4,379

2,160

80

71

53

38

4

9

14

19

20

20

20

20

0

0

0

Impairment of lease merchandise

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

Other depreciation and amortization

2,493

2,524

2,440

2,456

2,427

2,410

2,404

2,279

2,169

2,090

1,991

1,871

1,735

1,566

1,452

1,342

1,239

1,073

-421

149

272

166

1,319

444

48

0

0

0

0

-

-

-

-

-

-

-

-

Compensation expense related to issuance of stock options and warrants

902

723

563

432

120

133

150

144

140

113

76

100

138

136

144

128

85

78

214

225

221

439

332

291

280

49

23

25

30

31

9

7

4

3

0

0

0

Compensation expense related to issuance of warrants

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

Provision for doubtful accounts

35,176

34,838

31,750

28,355

25,408

23,239

21,341

20,118

19,394

19,135

18,378

17,197

15,632

13,281

11,183

9,354

7,389

5,647

4,511

3,291

2,194

1,380

593

141

9

0

0

0

0

-

-

-

-

-

-

-

-

Interest in kind added to promissory notes balance

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Changes in operating assets and liabilities:
Accounts receivable

37,125

36,734

34,911

31,147

28,144

25,355

22,762

21,831

21,048

21,212

20,390

18,507

16,901

14,710

12,199

10,029

8,078

6,270

4,852

3,678

2,344

1,509

618

160

21

0

0

0

0

-

-

-

-

-

-

-

-

Decrease (increase) in retained interest in purchased accounts receivable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

751

445

3,235

-36

-1,298

0

0

0

Decrease (increase) in earned but uncollected

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

11

9

48

-15

-45

0

0

0

Prepaid expenses and other

422

352

424

131

-350

-6

-160

-82

198

-32

19

-84

118

124

0

383

196

124

171

21

55

61

156

152

122

50

29

25

28

30

-27

-2

-29

-29

0

0

0

Lease merchandise

-60,888

-56,951

-60,756

-57,400

-54,736

-51,588

-43,578

-38,551

-36,220

-34,298

-31,001

-32,051

-32,102

-30,100

-25,394

-22,127

-19,659

-17,714

-11,771

-10,035

-8,309

-6,921

-3,892

-2,064

-700

-8

0

0

0

-

-

-

-

-

-

-

-

Security deposits

72

9

0

0

0

-

-

-

-

-10

-11

-7

-8

-1

-0

-11

-10

-11

-9

2

2

-45

-57

-57

-57

-9

0

0

0

-

-

-

-

-

-

-

-

Accounts payable

-9

-3,814

-3,268

-1,729

-1,678

827

3,411

1,933

2,663

3,784

144

-567

367

2,133

1,526

1,767

967

947

893

990

645

816

164

389

353

20

35

24

13

41

-5

8

-55

-13

0

0

0

Accrued payroll and related taxes

97

120

7

-0

20

-11

76

94

56

108

24

-9

3

44

-176

74

-105

119

132

88

91

63

169

117

128

68

17

16

11

8

-1

4

0

5

0

0

0

Decrease in collected but not earned

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-8

-20

-26

-17

-2

0

0

0

Accrued expenses

745

93

111

-62

240

557

619

563

385

535

-94

-38

21

-78

137

98

178

139

137

167

178

198

127

116

31

3

-11

25

26

29

30

0

-20

-43

0

0

0

Compensation expense related to issuance of warrants

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1

0

0

0

-

0

0

0

-

-

-

-

Net cash used in operating activities - continuing operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-14,361

-9,191

-8,364

-7,383

-7,660

-5,408

-3,241

-1,751

-541

0

0

0

-

0

0

0

-

-

-

-

Net cash provided by operating activities - discontinued operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

205

343

507

1,721

1,633

1,217

3,332

2,597

1,740

0

0

0

-

-

-

-

-

-

-

-

Net cash provided by (used in) operating activities

555

-469

-10,333

-18,443

-16,603

-18,160

-12,608

-10,885

-8,824

-6,598

-8,088

-12,621

-16,420

-17,372

-15,074

-13,815

-14,029

-14,156

-8,847

-7,857

-5,661

-6,027

-4,190

90

-42

1,199

0

0

0

-

-

-

-

1,632

0

0

0

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

2,334

2,241

2,197

2,368

2,530

2,284

2,286

2,063

1,851

2,021

1,905

1,916

1,928

1,855

1,743

1,697

1,509

1,328

1,401

1,192

1,340

1,157

844

580

107

67

2

12

14

17

15

18

17

18

0

0

0

Net cash (used in) investing activities - continuing operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-1,340

-1,157

-875

-611

-138

-98

0

0

0

-

-

-

-

-

-

-

-

Net cash used in investing activities - discontinued operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

19

-0

-14

0

0

0

-

-

-

-

-

-

-

-

Net cash used in investing activities

-2,334

-2,241

-2,197

-2,368

-2,530

-2,284

-2,286

-2,063

-1,851

-2,021

-1,905

-1,916

-1,928

-1,855

-1,743

-1,697

-1,509

-1,328

-1,060

-851

3,446

3,629

3,638

3,852

-139

-112

-85

-46

-28

-17

-15

-18

-17

-18

0

0

0

CASH FLOWS FROM FINANCING ACTIVITIES
Principal payment under finance lease obligation

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Refund of equity issuance related costs

-

61

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from exercise of warrants

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

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

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

8,548

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

(Payments to) proceeds from financial institution, net

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

550

1,346

2,454

-55

-1,180

0

0

0

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

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

15,809

7,562

7,444

5,147

1,150

1,000

0

0

0

-

-

-

-

-

-

-

-

Net cash used in financing operations - discontinued operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-3,240

-3,654

-5,142

-1,591

-1,736

0

0

0

-

-

-

-

-

-

-

-

Payments to lender

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

290

0

0

0

Proceeds from promissory notes, net of fees

-

3,440

3,440

3,440

2,940

3,465

0

0

0

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from loan payable under credit agreement

13,054

12,396

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds of loans from shareholder

-

-

-

-

-

-

-

-

-

-

-

-

-

1,000

0

0

1,000

-1,000

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Repayment of loan payable under credit agreement

-8,502

-11,815

-10,701

-12,794

-10,770

-9,959

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Repayment of loan payable under credit agreement

-

-

-

-

-

-

-

-

-

2,288

2,288

788

1,820

4,172

4,172

4,172

2,351

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Repayment of installment loan

11

11

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

(Repayment) proceeds of loans from shareholder

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,000

1,000

150

0

0

0

0

-

-

-

-

-

-

-

-

Debt issuance related costs

-

-

-

-

-

-

-

10,381

12,000

10,450

3,000

3,000

4,191

4,941

8,941

9,266

8,350

8,449

1,449

1,124

849

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Net cash used in financing activities

4,586

3,437

8,421

16,156

19,983

21,617

18,351

9,471

7,336

8,176

726

2,255

21,845

21,243

25,243

25,539

6,998

15,997

10,075

11,805

11,434

4,321

3,790

4

-441

-736

-1,498

-2,345

552

550

1,346

3,538

-295

-1,470

0

0

0

DECREASE IN CASH

2,807

727

-4,109

735

848

1,172

3,456

-3,477

-3,339

-443

-9,267

-12,282

3,496

2,016

8,425

10,026

-8,540

512

167

3,096

9,219

1,923

3,238

3,947

265

349

-155

-74

173

303

1,333

571

9

143

0

0

0

Supplemental cash flow information:
Interest paid

3,598

3,606

3,402

3,320

3,045

2,806

2,574

2,655

2,022

1,649

1,515

1,095

1,479

1,459

1,313

1,136

768

443

0

0

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

Deemed dividend from exchange offer of warrants

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

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

-

341

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Conversion of preferred stock to common stock

-

341

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-