Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

v3.8.0.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Operating activities:    
Net income $ 563 $ 352
Adjustments to reconcile net income to net cash used by operating activities:    
Depreciation and amortization 219 13
Amortization of debt discount 5
Bad debt expense (recovery) 9 (15)
Share-based compensation 357
Inventory reserve 56 2
(Benefit) provision for deferred income taxes (163) 9
(Increase) decrease in operating assets:    
Accounts receivable 2,785 (3,231)
Inventories (1,610) 226
Vendor deposits 519 417
Other assets (585) 510
Increase (decrease) in operating liabilities:    
Accounts payable and accrued expenses (2,068) (325)
Accrued employee expenses (94) (411)
Customer deposits 532 (32)
Billings in excess of costs on uncompleted contracts (1,260)
Net cash used by operating activities (735) (2,485)
Investing activities:    
Capital expenditures (3)
Net cash used by investing activities (3)
Net proceeds from borrowings on revolving line of credit 603
Debt repayments on term loan (178)
Net cash provided by financing activities 425
Net decrease in cash and cash equivalents (313) (2,485)
Cash and cash equivalents at beginning of period 727 3,941
Cash and cash equivalents at end of period 414 1,456
Supplemental disclosures of cash flow information (In thousands):    
Cash paid during the period for interest 61
Cash paid during the period for income taxes $ 24 $ 3