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, 2017
Mar. 31, 2016
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (3,149) $ (6,605)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:    
Depreciation and amortization 420 647
Gain on settlement of accounts payable (449) 0
Inventory write down related to restructuring 0 1,662
Amortization of prepaid stock compensation 0 703
Amortization of prepaid sponsorship and endorsement fees 0 698
Stock-based compensation 607 4,670
Other 516 159
Changes in operating assets and liabilities:    
Accounts receivable (1,925) (302)
Inventory 2,463 2,274
Prepaid giveaways 132 14
Prepaid expenses and other current assets (387) (249)
Other assets 0 (50)
Accounts payable and accrued liabilities 803 (925)
Accrued restructuring charges (73) (326)
Net cash (used in) provided by operating activities (1,042) 2,370
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of property and equipment 0 (50)
Proceeds from disposal of property and equipment 0 16
Trademark registrations 0 6
Net cash provided by (used in) investing activities 0 (28)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Payments on line of credit 0 (3,000)
Repayments of term loan 0 (2,949)
Proceeds from secured borrowing arrangement, net of reserves 4,087 23,142
Payments on secured borrowing arrangement, net of fees (4,951) (17,516)
Repayment of capital lease obligations (36) (41)
Net cash provided by financing activities (900) (364)
Effect of exchange rate changes on cash 15 (5)
NET INCREASE IN CASH (1,927) 1,973
CASH - BEGINNING OF PERIOD 4,943 7,081
CASH - END OF PERIOD 3,016 9,054
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:    
Cash paid for interest 672 439
Cash paid for taxes 8 61
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES:    
Property and equipment acquired in conjunction with capital leases 12 24
Purchase of property and equipment included in accounts payable and accrued liabilities 9 309
Trademark registration included in accounts payable and accrued liabilities $ 0 $ 160