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
6 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Operating activities:    
Net income $ 2,073 $ 1,680
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 547 158
Amortization of debt discount 9 3
Provision for (recovery of) bad debt expense 18 (26)
Share-based compensation 773 46
Inventory reserve 67 35
Benefit for deferred income taxes (12) (38)
(Increase) decrease in operating assets:    
Accounts receivable 491 (6,230)
Inventories (804) 191
Vendor deposits 781 1,535
Costs in excess of billings on uncompleted contracts (2,181) 7
Other assets (430) (235)
Increase (decrease) in operating liabilities:    
Accounts payable and accrued expenses (4,140) 3,198
Accrued employee expenses 385 1,199
Customer deposits 3,505 (1,927)
Billings in excess of costs on uncompleted contracts (674) 1,890
Net cash provided by operating activities 408 1,486
Investing activities:    
Capital expenditures (116) (7)
Cash paid for acquisition, net of cash acquired (6,177) (13,394)
Net cash used by investing activities (6,293) (13,401)
Financing activities:    
Proceeds from borrowings 33,434 12,583
Debt repayments (26,788) (7,702)
Proceeds from issuance of common shares with related party 6,000
Payment of debt issuance costs (66)
Purchase of vested shares (303)
Net cash provided by financing activities 6,343 10,815
Net increase (decrease) in cash and cash equivalents 458 (1,100)
Cash and cash equivalents at beginning of period 727 3,942
Cash and cash equivalents at end of period 1,185 2,842
Supplemental disclosures of cash flow information:    
Cash paid during the period for interest 143 50
Cash paid during the period for income taxes 855 466
Supplemental disclosure of non-cash financing activities    
Common stock issued for acquisition 9,028 16,053
Dividends payable $ 1,403 $ 1,039