Quarterly report pursuant to Section 13 or 15(d)

Interim Consolidated Statements of Cash Flows (Unaudited)

v3.19.2
Interim Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 6 Months Ended
Jun. 30, 2019
Jul. 01, 2018
Operations:    
Net loss $ (1,257,000) $ (89,000)
Items not involving cash:    
Depreciation of property, plant & equipment 3,253,000 1,543,000
Amortization of intangible assets 3,688,000
Unrealized foreign exchange gain on unsettled forward exchange contracts (230,000)
Deferred income taxes (recovery) 95,000 (46,000)
Amortization of deferred financing fees 545,000 21,000
Stock-based compensation 185,000 203,000
Change in fair value of warrant liability (61,000)
Change in fair value of contingent consideration (note 4) (3,050,000)
Change in non-cash operating working capital:    
Accounts receivable 8,035,000 (3,016,000)
Unbilled contract assets (7,214,000) (6,488,000)
Inventories 7,054,000 (2,851,000)
Prepaid expenses and other assets (1,128,000) (1,437,000)
Income taxes payable 203,000 (48,000)
Accounts payable (10,130,000) 8,995,000
Accrued liabilities (866,000) 1,361,000
Net change in operating lease right of use asset and liability 465,000
Net cash provided by (used in) in operating activities (183,000) (2,082,000)
Financing:    
Net repayments of revolving credit facility (11,272,000) (209,000)
Repayment of long-term debt (625,000) (1,000,000)
Advance of equipment facility 1,894,000
Deferred financing fees (50,000) (48,000)
Principal repayments of finance lease obligations (809,000) (94,000)
Proceeds from issuance of common stock through rights offerings 14,044,000 361,000
Net cash provided by (used in) financing activities 1,288,000 904,000
Investing:    
Purchase of property, plant and equipment (2,072,000) (2,405,000)
Net cash provided by (used in) investing activities (2,072,000) (2,405,000)
Decrease in cash (967,000) (3,583,000)
Cash, beginning of period 1,601,000 5,536,000
Cash, end of the period 634,000 1,953,000
Supplemental Information    
Property, plant and equipment acquired that was unpaid in cash and included in accounts payable and accruals 260,000 43,000
Property, plant and equipment acquired through capital lease $ 533,000