Taoping inc. (TAOP)
CashFlow / Yearly
Dec'17Dec'16Dec'15Dec'14Dec'13Dec'12Dec'11Dec'10
OPERATING ACTIVITIES
Net income

939

-18,524

-7,195

-29,752

-122,206

-90,622

8,570

35,473

Adjustments to reconcile net income to net cash used in operating activities::
Income) loss from discontinued operations, net of income taxes

0

0

1,498

-5,260

-505

-

-

-

(Reversal of) provision for losses on accounts receivable and other current assets

422

1,995

2,659

6,398

67,038

27,882

4,072

3,652

Change in fair value of contingent consideration

-

-

-

-

-

-

1,481

-

Impairment of intangible assets and goodwill

0

4,442

8,918

7,015

2,008

26,901

0

0

Impairment of property and equipment

-

-

-

-

-

-

-

0

Loss on disposal of intangible assets, net

-

-

-

-

-

-

-

0

Provision for obsolete inventories

176

324

274

3,808

881

2,235

4,627

378

Depreciation

2,036

1,736

1,665

2,135

7,839

11,532

10,853

7,715

Amortization of intangible assets

820

845

876

917

1,227

2,292

1,757

1,794

Loss (Gain) on sale of property and equipment

7

8

30,005

6

-79

-2,915

-578

-339

Loss on disposal of inventories

-138

-345

0

-476

0

0

-

-

Loss from disposals of consolidated entities

0

575

0

0

-

-

-

-

Loss on disposal of deposit for land use rights

0

2,762

0

0

-

-

-

-

Stock-based payments for consulting services

96

0

98

120

0

0

-

-

Stock-based compensation

487

273

102

81

6,900

0

0

3,130

Impairment of property, plant and equipment

0

0

4,616

827

29,976

11,809

0

-

Dividends received from Xiamen Yili Geo Information Technology Co., Ltd.

-

-

-

-

-

-79

-

-

Income tax expense

0

365

3,761

-4,603

1,836

306

-1,694

110

Change in fair value of warrants liability

-3

-34

5,657

0

-

-

-

-

Warrant expense

-

-

-

-

0

-

-

-

Loss on write-off of land use rights

-

-

-

-

-

-

-

-232

Change in fair value of contingent consideration

-

-

-

-

-

-

-

325

Impairment of long-term investment

-

-

-

-

-

-

1,002

855

Imputed interest on shareholder's loan

-

-

-

-

-

-

166

187

Changes in operating assets and liabilities, net of effects of business acquisitions and dispositions:
Accounts receivable

2,145

913

-2,914

1,497

-3,957

7,460

4,538

27,889

Accounts receivable from related party and its affiliates

4,694

0

0

-

-

-

-

-

Inventories

-652

590

-1,546

-6,019

-657

-3,579

6,171

8,943

Other receivables and prepaid expenses

-6,962

-6,222

1,089

3,435

3,759

2,031

8,944

-11,758

Advances to suppliers

1,423

-1,981

1,708

-5,781

2,209

1,551

-3,973

2,044

Restricted cash

0

-848

-9,566

1,515

-1,013

-250

2,772

743

Amounts due to/from related parties

0

-154

-1,088

1,126

538

-1,825

-401

-

Other payables and accrued expenses

819

-2,344

-2,736

-3,808

3,150

15

1,245

-6,673

Advances from customers

-1,442

-846

1,598

-2,017

315

-2,700

-1,329

3,324

Advances from customers from related party and its affiliates

2,111

0

0

-

-

-

-

-

Accounts payable and bills payable

-239

-1,811

-24,134

-6,018

-10,354

7,175

7,101

3,761

Income tax payable

-1,166

-312

-118

171

-41

106

-275

398

Net cash provided by (used in) continuing operations

4,540

-2,821

-25,319

-12,514

-10,644

-

-

-

Net cash used in operating activities from discontinued operations

0

0

-595

-115

-733

-

-

-

(Decrease) increase in amounts due to/from related parties

-

-

-

-

-

-

-

457

Net cash provided (used) in operating activities

4,540

-2,821

-25,914

-12,629

-11,377

-9,267

16,341

26,949

INVESTING ACTIVITIES
Cash paid for assets held-for sale

0

0

-20

13,024

0

0

-

-

Deposit refunded for land use rights

-

-

-

3,355

1,437

-47

0

-

Dividends received from Xiamen Yili Geo Information Technology Co., Ltd.

-

-

-

-

-

79

0

0

Cash acquired in Biznest acquisition

-

-

-

67

0

0

-

-

Proceeds from sale of property and equipment

7

299

55

6

226

18

0

142

Consideration paid for acquisition of Biznest

0

0

1,488

5,951

0

0

-

-

Investment in Geo

-

-

-

-128

0

0

-

-

Investment in Biznest's joint company

0

-45

0

0

-

-

-

-

Purchase of land use rights

-

-

-

-

-

-

-

232

Capitalized and purchased software development costs

0

0

-66

-1,353

-95

-2,159

-1,850

-1,466

Purchases of property and equipment

3,783

3,463

3,004

529

1,721

778

16,776

29,860

Investment in Zhongtian

-

-

-

638

378

0

0

-

Cash received from sale of Zhongtian and Geo

0

-12,312

0

0

-

-

-

-

Cash received for sale of assets held for sale

0

0

-45,052

0

0

-

-

-

Net cash (used in) provided by investing activities from continuing operations

-3,775

9,102

40,526

7,851

-530

-

-

-

Net cash provided by (used in) investing activities from discontinued operations

0

0

1,558

-1,530

-2,697

-

-

-

Purchase of land use rights

-

-

-

-

-

2,513

0

-

Investment in Hubei Information Science and Technology

-

-

-

-

-

158

0

-

Investment in Hubei Information Science and Technology

-

-

-

-

-

-

-

0

Deposit for purchase of land use rights

-

-

-

-

-

-

-

25,310

Investment in Tianditu

-

-

-

-

-

-

-

1,183

Deposit for software purchase

-

-

-

-

-

-

-

2,958

Net cash used in investing activities

-3,775

9,102

42,084

6,320

-3,228

-5,560

-18,626

-60,871

FINANCING ACTIVITIES
Borrowings under short-term loans

8,880

10,541

44,584

58,862

92,580

99,000

87,474

52,361

Repayment of shareholder's loan

-

-

-

-

-

-

-

1,035

Capital injection to Geo by minority shareholders

-

-

-

-

-

-

-

1,744

Borrowings from shareholder's loan

-

-

-

-

-

-

-

6,035

Borrowings under long-term loans

-

-

-

-

-

-

-

8,491

Common stock issued for cash

0

0

12,786

3,683

9,000

0

0

9,383

Decrease in restricted cash in relation to bank borrowings

0

0

543

256

-610

2,042

-1,048

-1,483

Capital injection by minority shareholders

-

-

-

-

-

283

1,157

0

Borrowings under long-term loans

-

-

-

-

350

0

0

-

Repayment of short-term loans

9,366

17,101

79,952

56,153

87,876

89,499

87,299

35,938

Repurchase of ordinary shares

0

379

1,310

1,290

3,000

315

684

0

Repayment of long-term loans

0

214

97

94

147

35

1,769

2,477

Cash paid to warrant holders

0

0

542

0

0

-

-

-

Net cash used in financing activities from continuing operations

-485

-7,153

-23,989

5,264

10,296

-

-

-

Net cash used in financing activities from discontinued operations

0

0

-147

1,131

4,422

-

-

-

Net cash used in financing activities

-485

-7,153

-24,136

6,395

14,718

11,476

-2,169

37,080

Effect of exchange rate changes on cash and cash equivalents

-771

837

564

19

223

80

307

1,529

NET DECREASE IN CASH AND CASH EQUIVALENTS

-491

-34

-7,402

105

335

-3,271

-4,147

4,688

Less cash and cash equivalents from discontinued operations

-

-

-

4,499

5,038

-

-

-

Supplemental disclosure of cash flow information:
Cash paid during the year
Income taxes

3

0

188

382

405

493

2,708

7,360

Interest

450

498

3,769

6,593

5,537

4,537

2,725

1,331