XML 53 R7.htm IDEA: XBRL DOCUMENT v2.4.0.8
CONSOLIDATED STATEMENTS OF CASH FLOWS (in thousands) (USD $)
In Thousands, unless otherwise specified
12 Months Ended
May 31, 2014
May 31, 2013
Cash flows from operating activities:    
Net income (loss) $ (748) $ 360
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization expense 294 333
Gain on sale of product line (649)  
Change in fair value of Holdback Payment and Earn-Out Payments (17)  
Stock-based compensation 15 8
Non-cash interest expense 24  
Change in fair value of warrant liability (32)  
Changes in current assets and liabilities:    
Accounts receivable 229 (138)
Prepaid expenses and other current assets 95 (55)
Accounts payable, accrued expenses and other liabilities 351 52
Deferred maintenance revenue (78) (47)
Net cash provided by (used in) operating activities (516) 513
Cash flows from investing activities:    
Proceeds from sale of product line, net of direct cash expenses 2,432  
Capital expenditures (39) (2)
Capitalized software development costs (57) (276)
Capitalized patent costs (5) (19)
Net cash provided by (used in) investing activities 2,331 (297)
Cash flows from financing activities:    
Proceeds from issuance of redeemable common stock, net of expenses   223
Cost of repurchasing common stock (63)  
Borrowings under Loan Agreement   2,700
Borrowings under Credit Facility   300
Repayment under Loan Agreement and Credit Facility (1,700) (2,500)
Repurchase of warrant liability (19)  
Capitalized debt issuance costs (32) (255)
Repayments under capital lease (16) (10)
Net cash provided by (used in) financing activities (1,830) 458
Effect of exchange rates on cash (64) 19
Increase (decrease) in cash and cash equivalents (79) 693
Cash and cash equivalents, beginning of period 1,288 595
Cash and cash equivalents, end of period 1,209 1,288
Supplemental disclosures of cash flow information:    
Interest paid 240 157
Income taxes paid 14 2
Supplemental disclosures of non-cash investing and financing activities:    
Issuance of warrants 51  
Purchase of property and equipment under capital lease 30 53
Accretion of redeemable common stock   $ 117