Vislink technologies, inc. (XGTI)

CashFlow / TTM
Dec'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'13
Cash flows used in operating activities
Net loss

-18,047

-14,614

-11,826

-14,194

-14,873

-24,176

-27,316

-22,414

-10,353

-7,248

-5,006

-8,547

-20,902

-19,052

-19,008

-18,383

-17,857

0

0

0

-

-

-

-

-27,450

0

0

0

Net loss

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

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

-

-

-

-

-

-

-

-

10,911

15,530

15,530

14,076

2,749

2,749

2,749

512

0

0

0

0

-

-

-

-

-

-

-

-

Loss on debt and payable extinguishment

-

-

-

-

-

-

-

-

2,900

3,999

3,990

2,900

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Stock-based compensation (option awards)

2,069

2,317

2,463

3,522

3,728

3,926

4,080

2,859

2,209

1,607

792

432

369

257

432

499

530

565

542

544

625

751

821

875

796

0

0

0

Payment made in stock (payroll and consultants)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

292

146

115

94

0

0

0

Payment made in stock (payroll and consultants)

-

0

0

0

-

0

0

0

-

3,279

3,341

3,409

2,935

2,252

1,789

1,956

1,834

0

0

0

-

-

-

-

-

-

-

-

Stock issuance commitments

320

429

483

474

519

866

524

502

715

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Non-cash interest expense

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

0

Provision for bad debt

-

-

-

-

-

-

-

-

-

-

-

-

631

89

109

84

78

71

76

24

14

40

20

18

16

0

0

0

Inventory valuation adjustments

4,705

432

328

407

473

1,703

1,939

1,795

1,781

2,656

2,383

2,460

2,417

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Amortization of right of use assets, operating leases

883

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Amortization and depreciation

2,365

2,340

2,425

2,655

2,953

3,514

3,971

4,296

4,398

4,703

4,826

5,198

5,561

6,071

5,778

5,221

4,829

3,885

3,883

3,883

3,871

3,920

3,406

2,883

2,370

0

0

0

Inventory valuation adjustment

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

-

-

-

-

-

Change in fair value of derivative liabilities

-1,064

-1,638

-2,205

-2,503

-3,186

-2,614

-1,949

-931

-105

-1,233

-3,615

-1,814

-2,545

-2,297

-835

-2,588

-2,559

-1,567

-464

-485

0

0

0

0

-

-

-

-

Guaranteed interest and debt issuance costs

-

-

-

-

-

-

-

-

-

434

434

434

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Accretion of financing instruments

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

176

0

0

0

Non-cash interest costs

63

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

-

-

-

-

Non-monetary exchange

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

-

Changes in assets and liabilities
Accounts receivable

867

4

611

-754

-1,811

-753

-3,729

-3,965

1,073

-900

2,650

4,015

683

246

-65

380

336

532

301

-48

185

989

1,017

904

804

0

0

0

Inventories

-841

-618

-2,734

-2,446

-775

35

1,913

-70

-2,015

-2,095

-2,746

-1,603

-1,045

-697

-323

-216

-354

-222

-120

402

1,676

2,952

3,453

3,583

2,621

0

0

0

Prepaid expenses and other current assets

-142

-111

228

40

186

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Prepaid expenses and other current assets

-

-

-

-

-

-

-

-

-

673

533

91

41

36

51

-24

-102

-151

-99

-54

3

-611

-639

-267

-293

0

0

0

Accounts payable

-623

92

-158

-3,835

-3,365

-2,554

-2,971

-261

2,996

1,782

2,997

2,695

139

211

-75

-307

328

666

806

187

-973

-290

-1,371

111

1,186

0

0

0

Deferred rent

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-

-

0

0

-

-

-

-

1,300

0

0

0

Accrued expenses and interest expense

-332

114

698

-1,146

-1,178

-1,449

-2,736

-2,273

329

1,147

2,963

3,067

340

1,133

1,299

945

1,096

205

52

672

359

46

153

73

21

0

0

0

Deferred revenue and customer deposits

-

-

-

-

-

-

-

-

-

-45

-145

-301

-115

0

0

0

-

-

-

-

0

0

0

0

-

-

-

-

Deferred revenue and customer deposits

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

-

-

-

-

-

Due to related parties

175

8

-176

-407

-397

-292

-452

582

1,392

1,581

1,781

1,059

436

-1,162

-499

2

-85

2,228

1,420

599

1,649

-345

-172

543

91

0

0

0

Deferred revenue and customer deposits

1,213

542

572

643

984

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Cash acquired in the acquisition of IMT

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

-

-

-

-

Net cash used in operating activities

-8,355

-7,292

-3,229

-5,591

-6,379

-7,166

-9,213

-6,718

-4,485

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Cash flows (used in) provided by investing activities
Acquisition of property and equipment

401

357

282

78

69

26

15

88

374

417

395

318

12

-114

-84

-86

34

180

150

180

134

298

396

366

294

0

0

0

Long term capital lease obligation

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-

-

-

-

Net cash provided by (used in) operating activities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-8,703

-

-7,954

-9,356

-12,292

-14,904

-18,248

-19,826

-17,006

-14,395

0

0

0

Cash used in Vislink acquisition

-

-

-

-

-

-

-

-

-

-

-

-

23

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Cash used in Vislink acquisition

-

-

-

-

-

-

-

-

-

6,500

6,500

6,500

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Net cash (used in) provided by investing activities

-425

-286

-32

172

181

129

-15

-88

-6,874

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Cash flows provided by financing activities
Capitalization of intangible assets

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

2,192

2,382

2,373

2,203

1,771

1,248

1,460

2,107

2,602

0

0

0

Net cash used in investing activities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-1,004

-

-2,562

-2,523

-2,383

-1,905

-1,546

-1,856

-2,473

-2,896

0

0

0

Principal repayments made on capital lease obligations

-

-

-

-

48

64

45

56

59

57

56

55

53

166

116

133

156

60

126

127

123

215

185

154

123

0

0

0

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

-

-

-

-

-

-

-

-

-

16,700

18,502

19,482

19,539

4,869

3,837

2,857

1,977

7,311

3,341

3,341

664

0

0

0

-

-

-

-

Costs incurred in connection with multiple financings

-

-

-

-

-

-

-

-

900

2,068

2,328

2,515

2,660

2,438

1,737

1,550

946

0

0

0

-

-

-

-

-

-

-

-

Proceeds received from issuance of convertible notes payable

-

-

-

-

-

-

-

-

-

-

-

-

1,000

1,000

1,303

1,970

1,470

0

0

0

-

-

-

-

450

0

0

0

Principle repayments of notes payable

-

-

-

-

-

-

-

-

824

2,000

2,000

2,000

0

0

0

702

-

0

0

0

-

-

-

-

-

-

-

-

Proceeds received from the exercise of warrants

-

-

-

-

-

-

-

-

2,124

0

0

0

-

-

-

2,433

1,758

0

0

0

-

-

-

-

-

-

-

-

Proceeds from convertible promissory notes

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

4,994

0

0

0

Principal repayments on convertible promissory notes

-

-

-

0

-

-

-

-

-

-

-

-

1,221

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Net cash provided by financing activities

8,519

6,872

1,671

5,361

5,435

3,573

6,886

2,414

5,041

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Restricted cash

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

Net cash provided by financing activities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

10,057

-

9,768

7,075

14,123

12,050

19,125

26,617

19,874

22,537

0

0

0

Effect of exchange rate changes on cash

-

-

-

-73

-

-

-

129

63

69

348

-17

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Net decrease in cash

-

-

-

-131

-

-

-

-4,263

-6,255

2,881

4,502

4,234

8,686

691

-2

263

-390

0

0

0

-

-

-

-

5,246

0

0

0

Net (decrease) in cash

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

Cash paid for interest

1,827

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Cash paid for interest

-

-

-

-

-

-

-

-

242

242

396

154

626

626

712

712

240

0

0

0

-

-

-

-

-

-

-

-

Cash paid for taxes

-

-

-

-

-

-

-

-

-

0

0

0

0

0

0

0

0

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

123

123

71

19

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Conversion of Series D Convertible Preferred Stock

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

Services previously accrued

-

-

-

-

-

-

-

-

-

0

0

0

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Settlement of amounts due to related parties

-

-

-

-

-

-

-

-

-

240

240

424

364

304

244

0

1,756

0

0

0

-

-

-

-

-

-

-

-

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

-

-

-

-

-

-

-

-

7,500

7,500

7,500

7,500

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Operating lease assets

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Operating lease liabilities

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Conversion of principal and interest under convertible promissory notes

-

-

-

-

-

-

-

-

-

-

-

-

610

760

615

400

150

0

0

0

-

-

-

0

15,000

0

0

0

Conversion of Series D Convertible Preferred Stock

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

-

-

-

-

Total debt issuance costs and guaranteed interest incurred from leak-out agreement

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

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

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

272

195

195

168

0

0

0

0

Stock issued as payment of fees on convertible preferred stock

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

-

-

-

-

Stock issued as payment of interest on convertible notes

-

-

-

-

-

-

-

-

180

180

180

180

90

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Settlement of amounts due to related parties

-

0

0

0

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Non-cash disclosures of ROU assets and operating lease obligations (Note 11):
Common stock issued in connection with conversion of preferred stock

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

0

-

-

-

-

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

-

-

-

-

-

-

-

-

7,500

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

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

-

-

-

-

-

-

-

-

-

-

-

-

2,379

2,572

1,511

993

1,390

0

0

0

-

-

0

0

-

-

-

-

Amortization of commitment fees

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

294

0

0

0

-

-

-

-

-

-

-

-

Stock issued as payment of fees on convertible preferred stock

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-

-

-

-

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

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

294

0

0

0

-

-

-

-

Conversion of convertible bridge loan payable including interest and fees

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

9,023

0

0

0

Due to related party refinanced under the bridge loan

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,393

0

0

0

Acquisition of equipment under capital lease obligations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

-

-

-

-

Dividends and deemed dividend on Series B Convertible Preferred Stock conversion

-

-

-

-

-

-

-

-

-

-

-

-

1,808

0

0

0

-

-

0

0

-

-

-

-

-

-

-

-

Amount of consideration:

-

-

-

-

-

-

-

-

16,000

16,000

16,000

16,000

3,000

3,000

3,000

3,000

0

0

0

0

-

-

-

-

-

-

-

-

Amount of consideration:

-

-

-

-

-

-

-

-

16,000

16,000

16,000

16,000

3,000

3,000

3,000

3,000

0

0

0

0

-

-

-

-

-

-

-

-

Gain on bargain purchase

-

-

-

-

-

-

-

-

10,911

15,530

15,530

14,076

2,749

2,749

2,749

512

0

0

0

0

-

-

-

-

-

-

-

-