Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended 12 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Dec. 31, 2023
OPERATING ACTIVITIES:      
Net loss $ (241) $ (401) $ (48,700)
Adjustments to reconcile net loss to net cash provided by operating activities:      
Depreciation and amortization 4,020 3,205  
Lease amortization 509 683  
Deferred revenue 58 16  
Provision for expected credit losses 37 97 454
Provision for deferred income taxes 26  
Foreign exchange gain (11) (11)  
Interest accretion 168 166  
Stock-based compensation (benefit) expense (708) 1,072  
Changes in operating assets and liabilities:      
Accounts receivable (111) (156)  
Contract asset (361) (619)  
Inventory (15) 116  
Other assets (615)  
Accounts payable and other liabilities 721 (2,556)  
Net cash provided by operating activities 4,066 1,023  
INVESTING ACTIVITIES:      
Purchases of property and equipment (298) (835)  
Capitalized software and other intangible assets (1,570) (2,204)  
Net cash used in investing activities (1,868) (3,039)  
FINANCING ACTIVITIES:      
Preferred stock dividends paid (3,875)  
Settlement of tax withholding obligations on stock issued to employees (151) (1,113)  
Repayments of notes payable (223) (236)  
Proceeds from issuance of Series B Preferred Stock, net of expenses 1,437  
Proceeds from line of credit 12,700  
Repayment of line of credit (1,000) (10,700)  
Net cash used in financing activities (1,374) (1,787)  
EFFECT OF EXCHANGE RATE CHANGES ON CASH (17) (335)  
NET INCREASE (DECREASE) IN CASH 807 (4,138) 9,000
CASH - Beginning of the period 3,331 12,299 12,299
CASH - End of the period 4,138 8,161 $ 3,331
SUPPLEMENTAL NONCASH INVESTING AND FINANCING ACTIVITIES:      
Dividends declared, not paid 5 3,931  
Purchase of prepaid insurance with assumption of note 96  
Reclass of deposits for property and equipment placed in service 296  
SUPPLEMENTAL INFORMATION - Cash paid during the period for:      
Income taxes 6 2  
Interest $ 295 $ 75