Lightpath technologies inc (LPTH)
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'11Dec'10Sep'10
Cash flows from operating activities
Net income (loss)

816,017

769,117

-1,375,157

-1,761,690

-352,018

16,276

-582,891

-807,220

1,226,278

423,351

217,695

6,364,099

100,824

1,097,667

140,496

331,467

775,758

-535,583

842,973

-367,234

89,791

141,213

-579,050

102,451

-133,322

-202,033

-80,345

-243,765

217,094

140,772

101,221

-

-

-

-

-

-

-

-

Adjustments to reconcile net income (loss) to cash provided by operating activities
Net income (loss)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-518,985

-343,299

-198,447

429

-375,728

-373,714

-852,950

Depreciation and amortization

827,095

868,148

892,072

923,193

857,287

821,530

862,146

911,578

866,329

821,016

804,658

840,207

721,636

269,131

249,465

238,961

219,377

208,450

181,202

145,055

116,866

145,899

129,323

122,255

119,577

200,542

223,948

211,900

193,039

199,658

208,637

266,317

286,014

326,269

245,438

257,798

227,861

215,727

211,543

Interest from amortization of debt costs

4,643

4,643

4,643

4,643

100,656

5,981

5,981

5,981

5,983

3,861

3,860

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

103

46,746

60,178

209,666

Loss (gain) on disposal of property and equipment

-142

79,224

50,000

-15,821

136,125

15,500

-58,757

3,573

0

-3,315

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Loss on disposal of property and equipment

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

12,729

7,211

0

540

Interest from amortization of debt costs

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

625

12,645

-

-

-

-

0

2,132

884

866

850

832

816

800

784

10,699

23,972

83,522

Warrants issued to consultant

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

7,500

0

0

0

-

-

-

-

Loss on disposal of property and equipment

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,700

0

0

-218

-39

587

-40

-1,058

0

-1,026

-545

-702

-

-

-

-

-

-

-

-

Stock-based compensation on stock options & RSU, net

74,047

79,930

98,459

98,493

98,482

103,905

93,910

94,157

93,188

93,968

92,241

75,693

108,181

91,061

119,940

87,120

87,027

101,178

73,410

73,434

73,441

74,812

63,263

63,277

65,892

157,818

69,828

71,109

68,912

67,472

60,814

69,242

64,826

73,430

64,546

84,489

57,760

53,513

50,387

Provision for doubtful accounts receivable

622

9,147

0

-2,222

-5,905

2,297

-828

-4,549

12,396

-18,122

-6,142

-

-

-

-

0

0

0

-289

-1,961

0

-13,648

-136

-3,099

-11,578

-36

5,849

-6,983

13,602

-3,593

-623

3,023

-611

8,557

0

-1,330

-11,452

-6,194

3,291

Change in operating lease liabilities

-43,657

-39,246

-24,844

-

-25,624

-4,268

-22,828

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Change in fair value of warrant liability

-

-

-

-

-

-

-

0

0

243,012

-48,380

9,759

748,169

-246,885

-43,500

27,243

-661,854

1,055,179

-368,114

839,347

105,518

-534,784

53,958

-278,183

130,698

35,013

18,952

502,827

-222,766

-169,552

-95,784

-

-

-

-

-

-

-

-

Change in fair value of Sellers Note

-

-

-

-

-

-

-

0

-467,668

42,515

28,990

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Deferred rent amortization

-

-

-

-

-

-

-

23,241

20,349

17,900

19,985

22,653

12,048

22,316

32,346

7,630

29,393

-37,495

-35,051

-35,537

-22,907

-13,699

55,968

21,366

42,774

40,341

39,245

38,064

38,858

35,983

12,605

25,783

32,894

31,202

28,657

182,245

-28,774

-24,910

-23,537

Inventory write-offs to reserves

-

-

-

-

-

-

-

-

-

-

-

42,373

3,244

3,508

41,143

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Deferred tax benefit

0

0

0

378,000

0

-108,000

-298,000

-327,922

-205,884

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Changes in operating assets and liabilities:
Trade accounts receivables

-1,091,469

1,882,666

-682,975

310,004

-325,346

979,862

-130,855

-306,367

-64,324

489,334

-737,036

10,183

82,098

1,182,611

-232,466

516,869

174,322

113,866

-154,304

615,319

20,451

355,004

-429,964

16,715

108,425

335,880

-123,915

-114,437

-161,643

323,867

-51,556

-260,537

562,670

-228,064

236,935

-200,011

65,723

110,787

36,797

Other receivables

0

0

-353,695

348,923

-65,433

38,475

-15,617

-13,021

812

5,789

22,417

-17,151

-48,487

-6,359

-88,073

2,350

21,101

28,721

-92,769

19,442

36,156

2,962

-4,722

66,446

-120,000

0

-100,000

30,030

36,443

41,036

205,021

20,346

20,654

0

-30,943

30,943

0

0

0

Inventories

732,613

-474,359

332,161

-209,531

1,020,410

477,152

116,989

317,793

191,363

389,622

432,216

65,466

95,925

-111,857

269,111

259,303

326,182

167,082

164,332

-234,691

127,981

-106,802

191,382

375,615

141,158

269,359

320,382

-57,687

99,141

128,226

87,617

-168,449

229,255

25,493

-195,552

56,479

-218,374

-239,700

-83,364

Prepaid expenses and other assets

139,976

-147,094

-190,940

-211,725

33,760

-326,019

111,059

276,123

406,043

-16,692

19,786

19,932

232,175

-374,248

-29,680

173,994

104,171

166,438

-29,159

-81,835

40,941

-59,399

98,737

-72,096

5,592

63,643

94,268

-79,550

61,953

-102,852

73,976

-127,693

75,786

-33,510

2,746

51,720

-67,058

101,740

108,261

Accounts payable and accrued liabilities

-1,004,360

137,104

9,443

421,209

549,677

245,943

-333,650

322,099

-55,961

-763,812

319,536

250,887

11,259

218,778

365,587

566,270

390,462

-253,862

21,277

343,033

-452,638

68,883

130,796

414,830

97,697

40,863

241,605

-96,549

-173,929

118,813

68,554

-188,130

37,062

-115,360

432,467

9,258

46,052

176,110

214,637

Deferred rent

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

1,966

-37,750

-244,250

282,000

0

0

-

-

-

-

Net cash provided by operating activities

931,312

488,406

450,065

385,238

424,118

-99,192

-298,979

-53,723

1,054,470

-36,849

1,655,090

2,068,014

1,388,892

620,245

921,893

289,887

189,790

148,626

897,410

747,276

-273,144

-291,566

-100,384

38,815

90,428

-468,935

250,915

622,119

24,358

-69,295

-21,026

309,166

-160,039

139,258

117,349

161,652

-121,972

97,509

-42,287

Cash flows from investing activities
Purchase of property and equipment

351,794

896,654

256,573

258,353

493,298

510,105

670,079

35,970

581,133

489,304

1,411,278

810,388

539,518

485,961

387,259

375,298

159,728

310,836

285,236

172,901

120,131

92,324

303,442

619,939

419,966

716,893

225,515

426,250

182,497

317,654

171,069

48,018

37,978

195,369

347,228

213,794

62,644

343,337

288,616

Proceeds from sale of equipment

7,413

129,573

50,000

366,500

206,250

15,500

95,000

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

12,729

7,211

0

540

Net cash used in investing activities

-344,381

-767,081

-206,573

108,147

-287,048

-494,605

-575,079

-35,970

-581,133

-489,304

-1,411,278

-810,388

-539,518

-12,263,297

-387,259

-375,298

-159,728

-304,920

-285,236

-

-

-

-

-

-

-

-

-

-

-

-

-

-37,978

-195,369

-347,228

-201,065

-55,433

-343,337

-288,076

Cash flows from financing activities
Proceeds from exercise of stock options

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,981

0

0

5,653

Proceeds from sale of common stock from employee stock purchase plan

12,445

0

12,167

-3,484

21,081

0

20,841

0

29,511

0

19,080

0

10,034

0

9,598

0

14,675

0

8,228

-

-

8,327

4,902

0

4,901

0

2,512

0

5,187

0

3,794

-550

6,274

0

7,871

0

7,249

0

4,888

Deferred costs associated with equity financing

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

Costs associated with conversion of debentures

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1

0

650

6,098

Proceeds from exercise of warrants, net of costs

-

-

-

-

-

-

-

0

-5,000

509,068

30,250

121,000

421,811

91,911

70,957

-

-

-

-

-

-

-

-

253

0

259,361

1,279,447

-

-

-

0

-

-

-

-

0

0

0

231,659

Payments on loan payable

-145,338

-145,337

-145,338

-145,336

-5,956,768

-364,700

-364,699

-364,700

-3,795,337

-278,250

-278,249

-

-

-

-

0

-19,369

16,137

-48,353

51,585

-165,057

9,163

-9,163

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Repayment of finance lease obligations

105,413

106,607

103,618

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payments on capital lease obligations

0

0

0

98,661

76,584

67,725

99,901

90,564

77,366

66,324

53,100

52,066

51,797

54,777

35,300

34,623

33,954

33,300

29,464

42,846

13,168

1,550

1,848

1,248

1,549

1,550

3,062

900

900

901

900

-

-

-

-

-

-

-

-

Deferred costs associated with equity financing

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-51,527

-25,000

-

-

-

-

Payments on capital lease obligation

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

-

Net cash used in financing activities

-238,306

-251,944

-236,789

-247,481

-282,125

-428,164

-443,759

-424,213

-875,613

268,195

-282,019

88,221

378,407

13,696,760

45,255

-35,204

328,424

13,277

-69,589

8,740

636,019

323,750

-6,109

163,950

3,352

257,811

1,278,897

1,603

-215,632

-901

2,894

1,596,236

82,801

-51,527

-17,129

-12,270

7,249

-650

236,102

Effect of exchange rate on cash and cash equivalents

-244,519

143,056

53,766

-282,660

145,123

131,254

341,293

634,362

-943,997

-65,756

11,343

-92,353

-77,369

43,629

95,859

166,053

1,047

296,045

163,520

694

22,263

68,567

-468

-10,316

-4,534

4,106

9,689

-35,747

-269

3,651

-3,157

6,648

9,883

9,278

11,856

26,037

29,406

-5,476

-22,840

Change in cash and cash equivalents and restricted cash

104,106

-387,563

60,469

-36,756

68

-890,707

-976,524

120,456

-1,346,273

-323,714

-26,864

1,253,494

1,150,412

2,097,337

675,748

45,438

359,533

153,028

706,105

583,809

265,007

8,427

-410,403

-427,490

-330,720

-923,911

1,313,986

161,725

-374,040

-384,199

-192,358

1,864,032

-105,333

-98,360

-235,152

-25,646

-140,750

-251,954

-117,101

Supplemental disclosure of cash flow information:
Interest paid in cash

80,366

86,371

95,870

121,446

112,474

128,152

138,913

128,756

101,376

230,264

85,910

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Income taxes paid

192,205

192,117

57,660

108,927

49,935

119,719

127,945

-176,020

116,057

110,420

336,014

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Interest paid in cash

-

-

-

-

-

-

-

-

-

-

-

-

-

-

6,941

7,526

8,288

8,943

12,870

5,218

2,931

6,762

3,369

0

349

245

175

117

202

175

1,380

0

1,670

0

0

2,236

-80

0

80

Income taxes paid

-

-

-

-

-

-

-

-

-

-

-

-

-

-

116,043

2,240

-2,028

2,028

2,056

480

800

0

1,036

0

375

0

2,166

0

614

0

1,736

480

0

1,939

1,755

350

3,919

50

110

Convertible debentures converted into common stock

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

100,000

732,500

Accrued deferred costs associated with equity financing

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

111,931

32,139

-

-

0

0

Prepaid interest on convertible debentures through the issuance of common stock

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

87,000

0

0

0

87,000

0

0

0

0

Purchase of equipment through capital lease arrangements

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

12,972

-

-

-

0

-

-

-

-

-

-

-

-

Reclassification of warrant liability upon exercise

-

-

-

-

-

-

-

0

0

650,632

34,500

184,665

424,994

32,353

52,424

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-