Vislink technologies, inc. (VISL)
CashFlow / Yearly
Dec'19Dec'18Dec'17Dec'16Dec'15Dec'14Dec'13Dec'12
Cash flows used in operating activities
Net loss

-18,047

-14,873

-10,353

-20,902

-17,857

-18,978

-27,450

-13,787

Adjustments to reconcile net loss to net cash used in operating activities
Gain on bargain purchase

-

-

10,911

2,749

0

-

-

-

Loss on debt and payable extinguishment

-

-1,060

2,900

0

-

-

-

-

Gain on sale of property and equipment

-

146

-

-

-

-

-

-

Gain on bargain purchase

-

-

-

-

-

-

0

-

Stock-based compensation (option awards)

2,069

3,728

2,209

369

530

625

796

554

Payment made in stock (payroll and consultants)

224

1,793

-

-

-

-

94

100

Payment made in stock (payroll and consultants)

-

-

-

2,935

1,834

307

-

-

Stock-based compensation (payments for payroll and consultants)

-

-

3,042

-

-

-

-

-

Stock issuance commitments

320

519

715

-

-

-

-

-

Non-cash interest expense

-

-

-

-

-

-

601

0

Provision for bad debt

425

142

335

631

78

14

16

0

Inventory valuation adjustments

4,705

473

1,781

2,417

861

-

-

-

Amortization of right of use assets, operating leases

883

-

-

-

-

-

-

-

Amortization and depreciation

2,365

2,953

4,398

5,561

4,829

3,871

2,370

2,063

Amortization of debt discount

-

-

-

50

326

-

-

-

Inventory valuation adjustment

-

-

-

-

-

159

0

-

Offering expenses (See Note 8)

-

-

-

684

0

-

-

-

Accrual of potential shortfall (See Note 7)

-

-

-

1,669

0

-

-

-

Bad debt write-off

-

-

-

-

-

257

0

-

Reserve for slow moving inventory

-

-

-

-

-

200

0

-

Impairment charge

-

413

-

2,683

2,092

0

933

286

Change in fair value of derivative liabilities

-1,064

-3,186

-105

-2,545

-2,559

0

-

-

Loss on debt settlement

-33

-

-

-

-

-

-

-

Guaranteed interest and debt issuance costs

-

-

434

-

-

-

-

-

Guaranteed interest and debt issuance costs

-

-

-

0

-

-

-

-

Line of credit commitment fee

-

-

302

0

-

-

-

-

Offering expenses

-

-

-

684

0

-

-

-

Accrual of potential shortfall

-

-

-

1,669

0

-

-

-

Expenses associated with offering of warrant liabilities

-

-

-

-

-

0

-

-

Accretion of financing instruments

-

-

-

-

-

-

176

0

Inducement expense

-

-

-

-

-

-

391

0

Other expense

-

-

-

-

-

-

10,068

0

Other income

-

-

-

-

-

440

0

-

Non-monetary exchange

-

-

-

-

-

65

-

-

Non-cash interest costs

63

2,301

-

-

-

0

-

-

Non-monetary exchange

-

-

-

-

-

-

-

1,500

Reversal of accrued bonus expense

-

-

-

-

-

25

2,335

0

Changes in assets and liabilities
Accounts receivable

867

-1,811

1,073

683

336

185

804

0

Inventories

-841

-775

-2,015

-1,045

-354

1,676

2,621

0

Prepaid expenses and other current assets

-142

186

-463

-

-

-

-

-

Prepaid expenses and other current assets

-

-

-

41

-102

3

-293

-28

Accounts payable

-623

-3,365

2,996

139

328

-973

1,186

-32

Accrued bonuses

-

-

-

-

-

-

-

1,258

Deferred rent

-

-

-

-

-

-

1,300

1,180

Accrued expenses and interest expense

-332

-1,178

329

340

1,096

359

21

191

Operating lease liabilities

-880

-

-

-

-

-

-

-

Deferred revenue and customer deposits

-

-

-

-115

-12

0

480

0

Due to related parties

175

-397

1,392

436

-85

1,649

91

1,098

Deferred revenue and customer deposits

1,213

984

446

-

-

-

-

-

Net cash used in operating activities

-8,355

-6,379

-4,485

-8,076

-7,778

-

-

-

Cash flows (used in) provided by investing activities
Proceeds from sale of property and equipment

-

250

-

-

-

-

-

-

Acquisition of property and equipment

401

69

374

12

34

134

294

515

Payment for purchase of treasury stock

-24

-

-

-

-

-

-

-

Net cash provided by (used in) operating activities

-

-

-

-

-

-14,904

-14,395

-5,561

Cash used in Vislink acquisition

-

-

6,500

23

0

-

-

-

Cash used in Vislink acquisition

-

-

-

0

-

-

-

-

Net cash (used in) provided by investing activities

-425

181

-6,874

-35

-2,226

-

-

-

Cash flows provided by financing activities
Proceeds received from equity financings

15,983

-

-

-

-

-

-

-

Costs incurred in connection with equity financing

1,799

-

-

-

-

-

-

-

Proceeds from the exercise of common stock warrants

178

-

6,700

-

4,976

11,224

-

-

Proceeds from working capital financing note

150

-

-

-

-

-

-

-

Principal payments in connection with working capital financing note

42

-

-

-

-

-

-

-

Capitalization of intangible assets

-

-

-

-

2,192

1,771

2,602

4,491

Net cash used in investing activities

-

-

-

-

-

-1,905

-2,896

-5,006

Principal repayments made on capital lease obligations

-

48

59

53

156

123

123

0

Proceeds from multiple issuances of convertible preferred stock, common stock and warrants

-

-

-

19,539

1,977

664

0

-

Costs incurred in connection with multiple financings

-

-

900

2,660

946

-

-

-

Principle repayments of Vislink notes

-

-

2,000

0

-

-

-

-

Proceeds received from issuance of convertible notes payable

-

-

-

1,000

1,470

0

450

10,315

Proceeds received from related party advances

-

-

-

-

1,900

285

-

-

Repayment of advances from related parties

-

-

-

300

500

-

-

-

Principle repayments of notes payable

-

-

824

0

-

0

-

-

Proceeds received from the exercise of warrants

-

-

2,124

492

1,758

0

-

-

Costs associated with under written offering

-

-

-

-

-

0

-

-

Proceeds from convertible promissory notes

-

6,000

-

-

-

-

4,994

0

Payment of issuance costs on convertible promissory notes

-

433

-

-

-

-

-

-

Principal repayments on convertible promissory notes

5,951

84

-

1,221

702

-

-

-

Debt issuance costs

-

-

-

-

163

0

-

-

Net cash provided by financing activities

8,519

5,435

5,041

16,797

9,614

-

-

-

Effect of exchange rate changes on cash

-7

-31

-

-

-

-

-

-

Net decrease in cash

-268

-794

-

-

-

-

-

-

Repayment of convertible bridge loan payable

-

-

-

-

-

-

125

0

Net proceeds from issuance of common stock

-

-

-

-

-

-

17,340

400

Purchase of treasury stock

-

-

-

-

-

-

-

12

Proceeds from exercise of options

-

-

-

-

-

-

-

2

Proceeds from issuance of warrants

-

-

-

-

-

-

1

0

Net cash provided by financing activities

-

-

-

-

-

12,050

22,537

10,705

Effect of exchange rate changes on cash

-

-

63

0

-

-

-

-

Net decrease in cash

-

-

-6,255

8,686

-390

-4,759

5,246

138

Cash paid for interest

1,827

36

-

-

-

-

-

-

Cash paid for interest

-

-

242

626

240

0

-

-

Cash paid for taxes

-

-

-

0

0

0

-

-

Supplemental cash flow disclosures of non-cash investing and financing activities:
Common stock issued in connection with: Compensation awards for services previously accrued

71

19

-

-

-

-

-

-

Common stock issued in connection with: Conversion of amounts due to related parties

31

240

-

-

-

-

-

-

Common stock issued in connection with: Conversion of principal and interest due on convertible promissory notes

529

2,339

-

-

-

-

-

-

Common stock issued in connection with: Settlement of interest only on convertible notes

-

180

-

-

-

-

-

-

Common stock issued in connection with: Compensatory fee for debt modification

-

160

-

-

-

-

-

-

Settlement of amounts due to related parties

-

-

-

364

1,756

-

-

-

Settlement of notes payable to sellers of Vislink with assumption of liabilities and debt extinguishment

-

-

7,500

0

-

-

-

-

Effect of the December 3, 2018 modification of the May 2018 debt instruments

-

4,131

-

-

-

-

-

-

Conversion of amounts due to related parties

-

-

490

-

-

-

-

-

Compensation awards previously accrued

-

-

295

-

-

-

-

-

Conversion of principal and interest under convertible promissory notes

-

-

-

610

150

0

15,000

0

Conversion of amounts due under convertible notes payable for related parties

-

-

-

-

500

0

-

-

Conversion of Series D Convertible Preferred Stock

-

-

648

-

-

-

-

-

Reclass of fixed asset to inventory

-

-

-

-

-

-

-

0

Issuance of common stock in connection with the payment of a bonus

-

-

-

0

-

272

0

180

Stock issued as payment of fees on convertible preferred stock

-

-

-

-

-

17

-

-

Stock issued as payment of interest on convertible notes

-

-

180

90

180

-

-

-

Beneficial conversion feature

-

284

-

-

-

-

-

-

Reclassification of derivative liabilities to stockholders' equity upon the exercise of warrant

24

-

-

-

-

-

-

-

Financing encumbered in treasury stock purchased

231

-

-

-

-

-

-

-

Non-cash disclosures of ROU assets and operating lease obligations (Note 11):
Operating lease assets recognized

2,991

-

-

-

-

-

-

-

less: non-cash changes to operating lease assets amortization

-883

-

-

-

-

-

-

-

less: non-cash changes to operating lease assets lease termination

-183

-

-

-

-

-

-

-

Total non-cash disclosures of ROU assets

1,925

-

-

-

-

-

-

-

Operating lease liabilities recognized

3,047

-

-

-

-

-

-

-

less: non-cash changes to operating lease liabilities amortization

-880

-

-

-

-

-

-

-

less: non-cash changes to operating lease liabilities lease termination

-183

-

-

-

-

-

-

-

Total non-cash disclosures operating lease obligations

1,984

-

-

-

-

-

-

-

Common stock issued in connection with conversion of preferred stock

-

-

-

-

-

0

-

-

Conversion of amounts due to related parties into Series B Preferred, common stock and warrants

-

-

-

-

845

0

-

-

Issuance of common stock in connection with the repayment of accrued interest

-

-

-

-

-

180

-

-

Derivative liability in connection with conversion option & warrants

-

-

-

-

270

270

-

-

Settlement of notes payable to sellers of Vislink with assumption of liabilities and debt extinguishment

-

-

7,500

0

-

-

-

-

Reclassification of derivative liabilities to stockholders equity upon the exercise of warrants

-

-

-

2,379

1,390

0

0

-

Amortization of commitment fees

-

-

-

-

294

0

-

-

Reclassification of fixed asset to inventory

-

-

-

-

-

-

293

-

Stock issued as payment of fees on convertible preferred stock

-

-

-

-

-

-

0

-

Stock issued as payment of fees under the $15M purchase agreement

-

-

-

-

-

294

0

-

Conversion of convertible bridge loan payable including interest and fees

-

-

-

-

-

-

9,023

0

Interest and fees refinanced under the bridge loan

-

-

-

-

-

-

5,408

0

Due to related party refinanced under the bridge loan

-

-

-

-

-

-

1,393

0

Related party amount refinanced under the bridge loan

-

-

-

-

-

-

1,013

0

Acquisition of equipment under capital lease obligations

-

-

-

-

193

0

370

0

Reclassification of inventory to fixed asset

-

-

-

-

-

163

0

-

Dividends and deemed dividend on Series B Convertible Preferred Stock conversion

-

-

-

1,808

3,079

0

-

-

Amount of consideration:

-

-

16,000

3,000

0

-

-

-

Amount of consideration:

-

-

16,000

3,000

0

-

-

-

Gain on bargain purchase

-

-

10,911

2,749

0

-

-

-

Stock issued as payment of interest on convertible notes

-

-

-

-

-

-

180

-