XML 62 R5.htm IDEA: XBRL DOCUMENT v3.3.0.814
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
CASH FLOWS FROM OPERATING ACTIVITIES    
Net loss $ (13,867) $ (13,686)
Adjustments to reconcile net loss to cash used in operating activities:    
Stock-based employee compensation 55 169
Depreciation and amortization 5,134 5,196
Amortization of distribution agreement 1,080 1,080
Provision for doubtful accounts 1,614 (15)
Changes in inventory reserve (76) (453)
Gain from disposal of equipment $ (23) (18)
Deferred tax expenses (benefit) 301
Amortization of debt discount 513
Changes in assets and liabilities:    
Notes receivable $ 15 (61)
Accounts receivable 377 1,157
Inventories 99 (1,879)
Due from related parties 21 2,134
Prepaid expenses and other assets (366) (1)
Accounts payable 48 (2,597)
Accrued liabilities 615 (480)
Taxes payable 417 (917)
Due to related parties 1,530 5,761
Advances from customers 348 2,036
Other payables (235) (388)
Net cash used in operating activities (3,214) (2,148)
CASH FLOWS FROM INVESTING ACTIVITIES    
Acquisition of property and equipment (307) (1,077)
Proceeds from disposal of equipment 23 40
Net cash flows used in investing activities (284) (1,037)
CASH FLOWS FROM FINANCING ACTIVITIES    
Change in restricted cash 1,122 $ (2,315)
Repayment of convertible bonds (100)
Repurchase of common stock (407)  
Proceeds from issuance of common stocks $ 6,167
Proceeds from equity investment $ 1,900
Proceeds from convertible bonds $ 786
Proceeds from notes payable 14,238 $ 22,801
Proceeds from short term loans 2,268 8,640
Repayments of notes payable (14,478) (22,232)
Payments on short term loans (6,242) (7,404)
Net cash (used in) provided by financing activities 3,354 1,390
Effect of exchange rate changes on cash and cash equivalents (4) (16)
NET DECREASE IN CASH AND CASH EQUIVALENTS (148) (1,811)
CASH AND CASH EQUIVALENTS, beginning of period 238 2,629
CASH AND CASH EQUIVALENTS, end of period 90 818
Supplemental disclosure of cash flow information:    
Cash paid during period for interest $ 810 1,152
Cash paid during period for income taxes $ 2
Non-cash transaction:    
Cancellation of 1,182,558 shares of common stock issued to pay convertible bond $ 100
Issue 14,454,743 shares of common stock to pay interest payable 1,237  
Issue 5,833,333 shares of common stock to pay outstanding management fee $ 350  
Issue 61 million shares of common stock for acquisition of IPR and Distribution rights for Minivan and CNG products   $ 5,969
Issue 6,439,552 shares of common stock to pay interest payable   639
Issue 7,970,983 shares of common stock to redeem Convertible bond   600
Issue 17,819,783 shares of common stock to pay outstanding balance due to related parties   $ 968