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
9 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Operating activities:    
Net income $ 3,209 $ 2,570
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 1,023 409
Amortization of debt discount 14 6
Provision for (recovery of) bad debt expense 25 (33)
Share-based compensation 1,164 200
Inventory reserve 77 (27)
Provision for deferred income taxes 388 89
(Increase) decrease in operating assets:    
Accounts receivable (1,630) (209)
Inventories (900) (376)
Vendor deposits 278 1,484
Costs in excess of billings on uncompleted contracts (2,792) 519
Other assets (731) 270
Increase (decrease) in operating liabilities:    
Accounts payable and accrued expenses (4,327) (548)
Accrued employee expenses 1,261 (311)
Customer deposits 1,917 (1,597)
Billings in excess of costs on uncompleted contracts (466) 1,167
Net cash (used) provided by operating activities (1,490) 3,613
Investing activities:    
Capital expenditures (395) (123)
Cash paid for acquisition, net of cash acquired (13,352) (13,394)
Net cash used by investing activities (13,747) (13,517)
Financing activities:    
Dividends paid (1,403) (1,040)
Proceeds from borrowings 58,387 25,938
Debt repayments (40,650) (21,236)
Proceeds from issuance of common shares to related party 6,000
Payment of debt issuance costs (88)
Purchase of vested shares (303)
Net cash provided by financing activities 16,031 9,574
Net increase (decrease) in cash and cash equivalents 794 (330)
Cash and cash equivalents at beginning of period 727 3,942
Cash and cash equivalents at end of period 1,521 3,612
Supplemental disclosures of cash flow information:    
Cash paid during the period for interest 300 72
Cash paid during the period for income taxes 855 1,370
Supplemental disclosure of non-cash financing activities    
Common stock issued for acquisitions $ 21,376 $ 16,053