Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Operating activities:    
Net loss $ (1,681) $ (1,001)
Adjustments to reconcile net loss to net cash used in operating activities:    
Net loss from discontinued operations 98 72
Deferred income tax provision (benefit) (13) 33
Depreciation and amortization on plant, property and equipment 41 41
Amortization of deferred financing costs 208 182
Amortization of debt discount 50  
Bad debt expense (18) 3
Stock-based compensation 715 472
Changes in operating assets and liabilities, net of businesses sold:    
Accounts receivable (1,634) 5,444
Contract assets (4,410) (9,413)
Other current assets 59 (2)
Other assets (172) (596)
Accounts payable (859) (3,122)
Accrued and other liabilities 5,112 4,230
Contract liabilities (548) 701
Net cash used in operating activities, continuing operations (3,052) (2,956)
Net cash used in operating activities, discontinued operations (69) (83)
Net cash used in operating activities (3,121) (3,039)
Investing activities:    
Purchase of property, plant and equipment (56) (42)
Net cash used in investing activities (56) (42)
Financing activities:    
Repurchase of stock-based awards for payment of statutory taxes due on stock-based compensation (541) (65)
Proceeds from issuance of common stock   6,532
Debt issuance costs   (442)
Proceeds from short-term borrowings 57,971 53,460
Repayments of short-term borrowings (57,435) (57,913)
Net cash provided by (used in) financing activities (5) 1,572
Effect of exchange rate change on cash (90) (136)
Net change in cash, cash equivalents and restricted cash (3,272) (1,645)
Cash, cash equivalents and restricted cash, beginning of year 9,184 7,818
Cash, cash equivalents and restricted cash, end of period 5,912 6,173
Supplemental Disclosures:    
Cash paid for interest 875 716
Cash paid for income taxes, net of refunds $ 1,066  
Noncash amendment fee related to revolving credit facility   $ 150