| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 |
|---|---|---|---|---|---|---|---|---|---|
Operating activities | |||||||||
Net income | |||||||||
5,833 | 1,638 | 1,177 | 1,756 | 2,475 | 4,371 | - | - | - | - |
Adjustments to reconcile net income to net cash provided by operating activities | |||||||||
Net income | |||||||||
- | - | - | - | - | - | 4,248 | 3,451 | 2,337 | 2,279 |
Depreciation and amortization | |||||||||
2,190 | 2,109 | 2,126 | 2,100 | 1,905 | 1,753 | 1,496 | 1,157 | 1,069 | 1,018 |
Amortization of operating lease assets | |||||||||
893 | - | - | - | - | - | - | - | - | - |
Bad debt, net | |||||||||
83 | 196 | 113 | 347 | 388 | 115 | 73 | 72 | -55 | - |
Deferred income tax expense (benefit) | |||||||||
792 | -85 | 1,639 | -429 | -207 | -1,702 | -2,162 | -194 | 0 | - |
Share based compensation | |||||||||
235 | 186 | 225 | 329 | 434 | 655 | 538 | 517 | 420 | - |
Changes in operating assets and liabilities, net of business acquisitions: | |||||||||
Issuance of stock options and warrants | |||||||||
- | - | - | - | - | - | - | - | - | 336 |
Changes in non-controlling interest | |||||||||
- | - | - | - | - | - | - | - | 497 | 93 |
Accounts receivable, net | |||||||||
3,160 | 9,296 | 2,423 | 6,902 | -2,792 | 4,789 | 488 | 6,030 | 1,438 | 3,790 |
Prepaid expenses and other assets | |||||||||
432 | -852 | 1,396 | -142 | 62 | 313 | 638 | -219 | -530 | -1,604 |
Accounts payable | |||||||||
530 | -144 | 1,810 | 1,850 | -1,105 | -256 | 90 | 2,358 | 15 | -2,015 |
Operating lease liabilities | |||||||||
-893 | - | - | - | - | - | - | - | - | - |
Accrued expenses, other current liabilities and customer incentives and deposits | |||||||||
76 | 6,594 | 3,501 | 2,150 | -1,730 | 2,263 | -279 | 1,663 | 160 | - |
Net cash provided by operating activities | |||||||||
- | - | - | - | 4,890 | - | - | - | - | - |
Accrued expenses, other current liabilities and customer deposits | |||||||||
- | - | - | - | - | - | - | - | - | 735 |
Net cash provided by operating activities | |||||||||
6,147 | 2,050 | 6,772 | 1,343 | - | 2,097 | 2,878 | 3,213 | 3,535 | 260 |
Investing activities | |||||||||
Purchases of property and equipment and capitalized software | |||||||||
1,378 | 1,622 | 1,448 | 1,555 | 1,575 | 1,326 | 1,299 | 998 | 810 | 1,439 |
Purchase of Resource Plus subsidiary, net of cash acquired | |||||||||
- | -767 | - | 401 | 0 | - | - | - | - | - |
Net cash used in investing activities | |||||||||
- | - | - | - | -1,575 | - | - | - | - | - |
Purchase of Unilink | |||||||||
- | - | - | - | - | 375 | - | - | - | - |
Sale of Romanian subsidiary | |||||||||
- | - | - | - | - | - | 65 | - | - | - |
Net cash used in investing activities | |||||||||
-1,378 | -855 | -1,448 | -1,956 | - | -1,701 | -2,535 | -1,226 | -1,252 | -1,439 |
Financing activities | |||||||||
Partners' investment in subsidiaries | |||||||||
- | - | - | - | - | - | 20 | - | - | - |
Partners' investment in subsidiaries | |||||||||
- | - | - | - | - | - | - | -305 | - | - |
Net borrowing (payments) on lines of credit | |||||||||
7,979 | 1,700 | -2,070 | 3,601 | -226 | 2,222 | 1,909 | -1,224 | -1,101 | -55 |
Payoff of bank line of credit | |||||||||
9,598 | - | - | - | - | - | - | - | - | - |
Payments related to stock options exercised | |||||||||
-19 | -52 | 10 | - | - | - | - | - | - | - |
Proceeds from stock options exercised | |||||||||
- | - | - | 23 | 41 | 54 | 124 | 137 | 36 | 26 |
Proceeds from local investors in Brazil | |||||||||
- | - | - | 107 | 0 | - | - | - | - | - |
Net cash settlement of stock options | |||||||||
- | - | - | - | - | 339 | - | - | - | - |
Proceeds from term debt | |||||||||
- | 872 | - | - | - | - | - | - | 244 | 500 |
Payments on term debt | |||||||||
333 | 333 | 711 | 24 | 24 | 24 | 27 | 33 | 557 | - |
Purchase of treasury shares | |||||||||
- | - | 121 | 12 | 109 | 169 | 392 | 35 | - | - |
Distribution to non-controlling investors | |||||||||
- | 1,914 | 2,198 | 286 | 341 | 110 | - | - | - | - |
Payments on capital lease obligations | |||||||||
- | 72 | 44 | 0 | - | 109 | 189 | 218 | 107 | 95 |
Net cash (used in) provided by financing activities | |||||||||
- | - | - | - | -659 | - | - | - | - | - |
Payment of notes to seller | |||||||||
- | - | - | - | - | - | 200 | 300 | - | - |
Net cash provided by (used in) financing activities | |||||||||
-1,971 | 201 | -5,134 | 3,409 | - | 1,525 | 1,225 | -1,673 | -1,485 | 376 |
Effect of foreign exchange rate changes on cash | |||||||||
549 | -3,112 | 1,313 | -1,190 | -1,320 | -353 | -546 | -227 | -16 | 67 |
Net change in cash and cash equivalents | |||||||||
3,347 | -1,716 | 1,503 | 1,606 | 1,336 | 1,568 | 1,022 | 87 | 782 | -736 |
Supplemental disclosure of cash flows information | |||||||||
Interest paid | |||||||||
825 | 994 | 460 | - | - | - | - | - | - | - |
Interest paid | |||||||||
- | - | - | - | 190 | 120 | 168 | 151 | 205 | 378 |
Interest paid | |||||||||
- | - | - | 150 | - | - | - | - | - | - |
Income taxes paid | |||||||||
197 | 309 | 307 | 228 | 187 | 445 | 399 | 472 | 219 | 203 |
Fair value of contingent Unilink consideration | |||||||||
- | - | - | - | - | 375 | - | - | - | - |
Increase in non-controlling interest attributable to acquisition of Unilink subsidiary | |||||||||
- | - | - | - | - | 720 | - | - | - | - |
Preferred stock converted to common stock at par | |||||||||
- | - | - | - | - | - | - | - | 6 | - |
Acquisition of equipment through capital lease | |||||||||
- | - | - | - | - | - | - | 253 | 140 | 250 |
Conversion of Mexico subsidiary loan to equity | |||||||||
- | - | - | - | - | - | - | 232 | - | - |