XPLORE TECHNOLOGIES CORP. | |||||||||||
Consolidated Statements of Cash Flows | |||||||||||
(in thousands) | |||||||||||
Years Ended March 31, | |||||||||||
2016 | 2015 | ||||||||||
CASH FLOWS FROM OPERATING ACTIVITIES: | |||||||||||
Cash provided by (used in) operations: | |||||||||||
Net income (loss) | $ | (362 | ) | $ | 249 | ||||||
Items not affecting cash: | |||||||||||
Depreciation and amortization | 1,730 | 919 | |||||||||
Provision for doubtful accounts | 69 | 2 | |||||||||
Stock‑based compensation expense | 2,156 | 684 | |||||||||
Equity instruments issued in exchange for services | — | 2 | |||||||||
Changes in operating assets and liabilities: | |||||||||||
Accounts receivable | (329 | ) | (453 | ) | |||||||
Inventory | (1,180 | ) | (643 | ) | |||||||
Prepaid expenses and other current assets | (514 | ) | 126 | ||||||||
Accounts payable and accrued liabilities, including deferred revenue | (6,717 | ) | 1,508 | ||||||||
Net cash provided by (used in) operating activities | (5,147 | ) | 2,394 | ||||||||
CASH FLOWS FROM INVESTING ACTIVITIES: | |||||||||||
Net cash received in purchase transaction | 653 | — | |||||||||
Change in vendor liabilities | 16 | — | |||||||||
Additions to fixed assets | (888 | ) | (1,066 | ) | |||||||
Net cash used in investing activities | (219 | ) | (1,066 | ) | |||||||
CASH FLOWS FROM FINANCING ACTIVITIES: | |||||||||||
Proceeds from short-term borrowings | 18,000 | — | |||||||||
Repayment of short-term indebtedness | (27,098 | ) | — | ||||||||
Net proceeds on issuance of Common Stock | 603 | 12,727 | |||||||||
Net cash provided by (used in) financing activities | (8,495 | ) | 12,727 | ||||||||
CHANGE IN CASH AND CASH EQUIVALENTS | (13,861 | ) | 14,055 | ||||||||
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD | 19,455 | 5,400 | |||||||||
CASH AND CASH EQUIVALENTS, END OF PERIOD | $ | 5,594 | $ | 19,455 | |||||||
SUPPLEMENTAL DISCLOSURE OF CASH FLOWS: | |||||||||||
Payments for interest | $ | 58 | $ | 8 | |||||||
Payments for income taxes, net of refunds | $ | 8 | $ | 9 | |||||||
Contact Information: Tom Wilkinson, Chief Financial Officer Phone: (512) 637-1162 Email: twilkinson@xploretech.com Darrow Associates Investor Relations Email: xplr@darrowir.com