Who is Williams Industrial

Cash Flow

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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Operating activities:    
Net loss $ (2,044) $ (1,681)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:    
Net loss from discontinued operations 17 98
Deferred income tax provision (benefit) 5 (13)
Depreciation and amortization on plant, property and equipment 66 41
Amortization of deferred financing costs 208 208
Amortization of debt discount 50 50
Bad debt expense (35) (18)
Stock-based compensation (31) 715
Changes in operating assets and liabilities, net of businesses sold:    
Accounts receivable 1,713 (1,634)
Contract assets (153) (4,410)
Other current assets (27) 59
Other assets (1,369) (172)
Accounts payable 4,231 (859)
Accrued and other liabilities 619 5,112
Contract liabilities (695) (548)
Net cash provided by (used in) operating activities, continuing operations 2,555 (3,052)
Net cash used in operating activities, discontinued operations (39) (69)
Net cash provided by (used in) operating activities 2,516 (3,121)
Investing activities:    
Purchase of property, plant and equipment   (56)
Net cash used in investing activities   (56)
Financing activities:    
Repurchase of stock-based awards for payment of statutory taxes due on stock-based compensation   (541)
Proceeds from short-term borrowings 66,618 57,971
Repayments of short-term borrowings (67,294) (57,172)
Repayments of long-term debt (263) (263)
Net cash used in financing activities (939) (5)
Effect of exchange rate change on cash 201 (90)
Net change in cash, cash equivalents and restricted cash 1,778 (3,272)
Cash, cash equivalents and restricted cash, beginning of year 2,950 9,184
Cash, cash equivalents and restricted cash, end of year 4,728 5,912
Supplemental Disclosures:    
Cash paid for interest 867 875
Cash paid for income taxes, net of refunds $ 36 $ 1,066

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