XML 16 R6.htm IDEA: XBRL DOCUMENT v3.7.0.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
CASH FLOWS FROM OPERATING ACTIVITIES    
Net loss $ (34,021) $ (20,055)
Adjustments to reconcile net loss to cash used in operating activities:    
Stock-based employee compensation 73 74
Depreciation and amortization 6,304 6,769
Amortization of distribution agreement 1,440 1,440
Provision for doubtful accounts 29 2,416
Changes in inventory reserve (40) (84)
Impairment loss on assets 20,367 1,082
(Gain) loss from disposal of equipment (23)
Changes in assets and liabilities:    
Accounts receivable 1,719 756
Notes receivable (196) 80
Inventories 1,456 288
Due from related parties 478 21
Prepaid expenses and other assets 391 164
Accounts payable 776 635
Accrued liabilities 1,485 1,583
Taxes payable (446) 545
Advances from customers (309) 659
Due to related parties 728 1,934
Other payables (474) (871)
Net cash used in operating activities (240) (2,587)
CASH FLOWS FROM INVESTING ACTIVITIES    
Acquisition of property and equipment (351) (1,020)
Proceeds from disposal of equipment 138 23
Net cash used in investing activities (213) (997)
CASH FLOWS FROM FINANCING ACTIVITIES    
Change in restricted cash (194) 1,164
Repayment of convertible bonds (100)
Repurchase of common stock (407)
Proceeds from issuance of common stock 6,167
Proceeds from notes payable 24,272 14,112
Proceeds from short term loans 11,281 2,248
Proceeds of convertible bonds 786
Repayments of notes payable (27,097) (14,349)
Payments on short term loans (7,836) (6,157)
Net cash provided by financing activities 426 3,464
Effect of exchange rate changes on cash and cash equivalents 1 (58)
NET DECREASE IN CASH AND CASH EQUIVALENTS (26) (178)
CASH AND CASH EQUIVALENTS, beginning of year 60 238
CASH AND CASH EQUIVALENTS, end of year 34 60
Supplemental disclosure of cash flow information:    
Cash paid during year for interest 1,103 810
Non-cash transaction:    
Issuance of 8,872,602 shares common stock to Cathaya Management Co. Ltd 444
Issuance of 18,399,316 shares common stock to CEVC to settle interest payable 1,246
Cancellation of 1,182,558 shares common stock issued to pay convertible bond 100
Issuance of 14,454,743 shares common stock to pay interest payable 1,237
Issuance of 5,833,333 shares common stock to pay outstanding management fee $ 350