0001493152-16-015002.txt : 20161115 0001493152-16-015002.hdr.sgml : 20161115 20161115070443 ACCESSION NUMBER: 0001493152-16-015002 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 78 CONFORMED PERIOD OF REPORT: 20160930 FILED AS OF DATE: 20161115 DATE AS OF CHANGE: 20161115 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ATRM Holdings, Inc. CENTRAL INDEX KEY: 0000908598 STANDARD INDUSTRIAL CLASSIFICATION: PREFABRICATED WOOD BLDGS & COMPONENTS [2452] IRS NUMBER: 411439182 STATE OF INCORPORATION: MN FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-Q SEC ACT: 1934 Act SEC FILE NUMBER: 001-36318 FILM NUMBER: 161997808 BUSINESS ADDRESS: STREET 1: 3050 ECHO LAKE AVE., SUITE 300 CITY: MAHTOMEDI STATE: MN ZIP: 55115 BUSINESS PHONE: 6517041800 MAIL ADDRESS: STREET 1: 3050 ECHO LAKE AVE., SUITE 300 CITY: MAHTOMEDI STATE: MN ZIP: 55115 FORMER COMPANY: FORMER CONFORMED NAME: AETRIUM INC DATE OF NAME CHANGE: 19930702 10-Q 1 form10-q.htm

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 10-Q

[X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended September 30, 2016

[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from ____ to _____

Commission file number 001-36318

ATRM HOLDINGS, INC.

(Exact Name of Registrant as Specified in Its Charter)

Minnesota		41-1439182
(State or Other Jurisdiction of		(I.R.S. Employer
Incorporation or Organization)		Identification No.)

3050 Echo Lake Ave., Suite 300, Mahtomedi, Minnesota		55115
(Address of Principal Executive Offices)		(Zip Code)

(651) 704-1800

(Registrant’s Telephone Number, Including Area Code)

N/A

(Former Name, Former Address and Former Fiscal Year, if Changed Since Last Report)

Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15 (d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes [X] No [ ]

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes [X] No [ ]

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act. (Check one):

Large accelerated filer [ ]

Accelerated filer [ ]

Non-accelerated filer [ ]

Smaller reporting company [X]

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes [ ] No [X]

As of November 11, 2016, 2,396,219 shares of Common Stock of the Registrant were outstanding.

ATRM HOLDINGS, INC.

INDEX

		Page

PART I. FINANCIAL INFORMATION

Item 1.	Consolidated Financial Statements

	Condensed Consolidated Balance Sheets as of September 30, 2016 (unaudited) and December 31, 2015	3

	Condensed Consolidated Statements of Operations for the three and nine months ended September 30, 2016 and 2015 (unaudited)	4

	Condensed Consolidated Statements of Cash Flows for the nine months ended September 30, 2016 and 2015 (unaudited)	5

	Notes to Condensed Consolidated Financial Statements (unaudited)	6 – 17

Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	18 – 22

Item 3.	Quantitative and Qualitative Disclosures About Market Risk	23

Item 4.	Controls and Procedures	23

PART II. OTHER INFORMATION

Item 1.	Legal Proceedings	24

Item 1A.	Risk Factors	25

Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	25

Item 3.	Defaults Upon Senior Securities	25

Item 4.	Mine Safety Disclosures	25

Item 5.	Other Information	25

Item 6.	Exhibits	25

SIGNATURES		26

PART 1. FINANCIAL INFORMATION

Item 1. Financial Statements

ATRM HOLDINGS, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

(in thousands, except share data)

	September 30, 2016			December 31, 2015
	(Unaudited)
ASSETS
Current assets:
Cash and cash equivalents	$	85		$	624
Accounts receivable, net		1,510			2,563
Costs and estimated profit in excess of billings		1,524			472
Inventories		1,014			1,241
Fair value of contingent earn-out, current		384			329
Other current assets		322			173
Total current assets		4,839			5,402

Property, plant and equipment, net		4,142			4,452

Fair value of contingent earn-out, noncurrent		305			548
Goodwill		—			1,733
Intangible assets, net		1,203			1,355

Total assets	$	10,489		$	13,490

LIABILITIES AND SHAREHOLDERS’ DEFICIT

Current liabilities:
Note payable – revolving line of credit	$	2,821		$	—
Current portion of long-term debt		969			1,105
Trade accounts payable		4,766			3,491
Billings in excess of costs and estimated profit		474			765
Accrued compensation		375			104
Other accrued liabilities		1,398			1,984
Total current liabilities		10,803			7,449

Long-term debt, less current portion		9,071			10,252
Deferred income taxes		18			13

Commitments and contingencies

Shareholders’ deficit:
Common stock, $.001 par value; 3,000,000 shares authorized; 2,266,219 and 2,206,219 shares issued and outstanding at September 30, 2016 and December 31, 2015, respectively		2			2
Additional paid-in capital		69,540			69,425
Accumulated deficit		(78,945	)		(73,651	)
Total shareholders’ deficit		(9,403	)		(4,224	)

Total liabilities and shareholders’ deficit	$	10,489		$	13,490

The accompanying notes are an integral part of the condensed consolidated financial statements.

ATRM HOLDINGS, INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(Unaudited)

(in thousands, except per share data)

	Three months ended September 30,						Nine months ended September 30,
	2016			2015			2016			2015

Net sales	$	6,923		$	6,426		$	17,875		$	20,027
Costs and expenses:
Cost of sales		6,326			6,912			17,166			20,414
Selling, general and administrative expenses		984			1,534			3,171			3,664
Goodwill impairment charge		1,733			—			1,733			—
Total costs and expenses		9,043			8,446			22,070			24,078

Operating loss		(2,120	)		(2,020	)		(4,195	)		(4,051	)
Other expense:
Interest expense		(392	)		(318	)		(1,116	)		(1,107	)
Change in fair value of contingent earn-out		22			(62	)		24			(62	)
Settlement gain		—			—			—			3,687
Loss from operations before income taxes		(2,490	)		(2,400	)		(5,287	)		(1,533	)
Income tax expense		(2	)		(2	)		(7	)		(4	)
Net loss	$	(2,492	)	$	(2,402	)	$	(5,294	)	$	(1,537	)

Loss per share, basic and diluted	$	(1.10	)	$	(1.80	)	$	(2.37	)	$	(1.24	)

Weighted average common shares outstanding, basic and diluted		2,266			1,331			2,232			1,235

The accompanying notes are an integral part of the condensed consolidated financial statements.

ATRM HOLDINGS, INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(Unaudited)

(in thousands)

	Nine months ended September 30,
	2016			2015
Cash flows from operating activities:
Net loss	$	(5,294	)	$	(1,537	)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation		227			237
Amortization expense, intangible assets		152			282
Amortization expense, deferred financing costs		65			—
Share-based compensation expense		115			86
Provision (credit) for bad debts		(40	)		48
Settlement gain		—			(3,687	)
Facility expense accrual credit		—			(54	)
Loss (gain) on sale of equipment		25			(4	)
Deferred income taxes		5			11
Change in fair value of contingent earn-out		(24	)		62
Goodwill impairment charge		1,733			—
Paid-in-kind (PIK) interest		534			—
Changes in operating assets and liabilities:
Accounts receivable		1,093			(971	)
Costs and estimated profit in excess of billings		(1,053	)		804
Inventories		227			155
Other current assets		(148	)		(69	)
Trade accounts payable		1,220			(432	)
Billings in excess of costs and estimated profit		(291	)		421
Accrued compensation		271			185
Other accrued liabilities		(587	)		445
Net cash used in operating activities		(1,770	)		(4,018	)

Cash flows from investing activities:
Proceeds from earn-out consideration		212			1,088
Purchase of property and equipment		(51	)		(47	)
Sale of equipment		109			9
Net cash generated by investing activities		270			1,050

Cash flows from financing activities:
Proceeds from issuance of common stock, net of offering expenses		—			2,954
Proceeds from issuance of long-term debt		—			1,059
Proceeds from revolving line of credit		17,112			—
Principal payments on revolving line of credit		(14,126	)		—
Payment of deferred financing costs		(175	)		—
Principal payments on long-term debt		(1,850	)		(1,298	)
Net cash generated by financing activities		961			2,715

Net decrease in cash and cash equivalents		(539	)		(253	)

Cash and cash equivalents at beginning of period		624			1,996

Cash and cash equivalents at end of period	$	85		$	1,743

Supplemental cash flow information:
Cash paid for interest expense	$	783		$	1,036
Settlement agreement:
– reduction of note payable to seller	$	—		$	3,226
– forgiveness of accrued interest	$	—		$	461
Deferred financing costs recorded in accounts payable	$	55		$	—

The accompanying notes are an integral part of the condensed consolidated financial statements.

ATRM HOLDINGS, INC.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

1.	BASIS OF PRESENTATION

The accompanying unaudited condensed consolidated financial statements include the accounts of ATRM Holdings, Inc. and its wholly owned subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation. References in the notes to the condensed consolidated financial statements to “ATRM,” “the Company,” “we,” “us” or “our”, unless the context otherwise requires, refer to ATRM Holdings, Inc. and its subsidiaries and their respective predecessors. Our modular housing business is operated by our wholly-owned subsidiaries KBS Builders, Inc. and Maine Modular Haulers, Inc. (collectively referred to as “KBS”).

The condensed consolidated balance sheet at December 31, 2015, has been derived from our audited financial statements. In the opinion of management, the unaudited interim condensed consolidated financial statements include all adjustments (consisting only of normal, recurring adjustments) necessary to present fairly the financial position, results of operations and cash flows for the interim periods presented. The results of operations for the three and nine months ended September 30, 2016 are not necessarily indicative of the operating results to be expected for the full year or any future period.

The accompanying unaudited condensed consolidated financial statements have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). Certain information and footnote disclosures, normally included in consolidated financial statements prepared in accordance with accounting principles generally accepted in the United States of America, have been condensed or omitted, pursuant to such rules and regulations. Therefore, these condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and accompanying footnotes included in our Annual Report on Form 10-K for the year ended December 31, 2015.

The Company is in the process of dissolving its subsidiary, Maine Modular Haulers, Inc. (“MMH”). MMH was used to provide transportation, logistics and other related services for the transportation of KBS’s completed modular buildings. In 2016, the Company decided to outsource these services and has disposed of MMH’s trucks and the frames (trailers) were sold to KBS. KBS is coordinating the transportation and logistics and has outsourced the hauling of its completed modular buildings. The Company expects MMH to be fully dissolved by December 31, 2016.

2.	FINANCIAL POSITION, LIQUIDITY AND CAPITAL RESOURCES

We have incurred significant operating losses and, as of September 30, 2016, we had an accumulated deficit of approximately $79 million. There can be no assurance that we will generate sufficient revenue in the future to cover our expenses and achieve profitability on a consistent basis or at all.

We issued various unsecured promissory notes to finance our acquisition of KBS in 2014 and to provide for our general working capital needs since the acquisition (see Notes 11 and 12). On February 23, 2016, as described in Note 11, we entered into a loan and security agreement with Gerber Finance Inc. (“Gerber Finance”) that provides KBS with a revolving line of credit with borrowing availability of up to $4.0 million (the “KBS Loan Agreement”). As of September 30, 2016, we had outstanding debt totaling approximately $12.9 million. This debt included $2.8 million (net of deferred financing costs) owed under a line of credit with Gerber Finance under the KBS Loan Agreement and approximately $1.0 million principal amount outstanding under an unsecured promissory note issued to the primary seller of KBS. Our debt also includes $4.3 million principal amount outstanding under a promissory note issued to Lone Star Value Investors, LP (“LSVI”) and $4.8 million principal amount outstanding under promissory notes issued to Lone Star Value Co-Invest I, LP (“LSV Co-Invest I”). Interest on these notes is payable semiannually and any unpaid principal and interest is due on April 1, 2019.

On August 12, 2016, the Company, LSVI and LSV Co-Invest I amended the LSVI and LSV Co-Invest I promissory notes allowing the Company, at its sole option, to elect to make any interest payment in paid in kind interest (“PIK Interest”) at an annual rate of 12% (versus the 10% interest rate applied to cash payments) for that period. The Company elected the PIK Interest option for the six-month period ended June 30, 2016. Accordingly, interest for the six months ended June 30, 2016, totaling $534,000 (calculated at the PIK Interest rate of 12%), was added to the balance of the LSVI and LSV Co-Invest I promissory notes.

Jeffrey E. Eberwein, our Chairman of the Board, is the manager of Lone Star Value Investors GP, LLC (“LSVGP”), the general partner of LSVI and LSV Co-Invest I, and sole member of Lone Star Value Management, LLC (“LSVM”), the investment manager of LSVI.

We intend to pursue new financing at the parent company level to replace all or a portion of the debt owing to LSVI and LSV Co-Invest I and to provide for our general working capital needs. There can be no assurance we will be successful in obtaining such financing on terms favorable to us or at all. Until such time as we obtain additional financing, ATRM may be dependent on LSVI and LSV Co-Invest I, or other third parties, to provide for our general working capital needs. Although not a binding commitment, LSVM has advised us of its present intention to continue to financially support the Company as we pursue new financing.

There can be no assurance that our existing cash reserves, together with funds generated by our operations, borrowings available under the KBS Loan Agreement and any future financings, will be sufficient to satisfy our debt payment obligations. Our inability to generate funds or obtain financing sufficient to satisfy our debt payment obligations may result in such obligations being accelerated by our lenders, which would likely have a material adverse effect on our business, financial condition and results of operations. Given these uncertainties, there can be no assurance that our existing cash reserves will be sufficient to avoid liquidity issues and/or fund operations beyond one year from September 30, 2016.

3.	RECENTLY ADOPTED ACCOUNTING PRONOUNCEMENT

In April 2015, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2015-03, Interest - Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs (“ASU 2015-03”). The amendments in this guidance require that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. In August 2015, the FASB issued ASU No. 2015-15, Interest – Imputation of Interest (Subtopic 835-30): Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line-of-Credit Arrangements, which allows for the presentation of debt issuance costs related to line-of-credit arrangements as either a direct deduction from the carrying amount of the debt liability in accordance with ASU 2015-03, or as an asset with subsequent amortization of the debt issuance costs ratably over the term of the arrangement. As required, ATRM adopted these updates effective January 1, 2016 and elected to present the deferred financing costs associated with the KBS Loan Agreement as a deduction from the carrying amount of such debt.

4.	FAIR VALUE MEASUREMENTS

Financial assets reported at fair value on a recurring basis included the following at September 30, 2016 (in thousands):

	Level 1		Level 2		Level 3
Contingent earn-out receivable related to the transfer of test handler product line:
Current portion	$	—	$	—	$	384
Noncurrent portion				—		305
Total	$	—	$	—	$	689

Assets reported at fair value on a nonrecurring basis included the following at September 30, 2016 (in thousands):

	Level 1		Level 2		Level 3		Total Losses

Goodwill (1)	$	—	$	—	$	—	($	1,733	)

(1)

Goodwill with a carrying value of $1.7 million was written down to zero at September 30, 2016. As a result, we recorded an impairment charge of $1.7 million in the three and nine months ended September 30, 2016 as described in Note 7.

The following table summarizes the Level 3 activity for our earn-out receivable related to the transfer of our test handler product line (in thousands):

	Earn-out

Balance at December 31, 2015	$	877
Add - adjustment based on fair value assessments		24
Subtract – settlements		(212	)
Balance at September 30, 2015	$	689

The following table summarizes the Level 3 activity for our goodwill measured on a non-recurring basis (in thousands):

	Earn-out

Balance at December 31, 2015	$	1,733
Subtract – goodwill impairment recorded at September 30, 2016 (included in earnings)		(1,733	)
Balance at September 30, 2015	$	—

Quantitative information about Level 3 fair value measurements on a recurring basis at September 30, 2016 is summarized in the table below:

Fair Value Asset	Valuation Technique	Unobservable Input	Amount
Earn-out receivable related to transfer of test handler product line	Discounted cash flow	Total projected revenue	$	11 million
		Revenue growth rate		0	%
		Performance weighted average		60% to 125%
		Discount rate		10	%

Quantitative information about Level 3 fair value measurements on a nonrecurring basis at September 30, 2016 is summarized in the table below:

Fair Value Asset	Valuation Technique	Unobservable Input	Amount
Goodwill	Discounted cash flow	Projected annual revenue	$	32 million
		Annual revenue growth rate		0	%
		Discount rate		20	%

5.	ACCOUNTS RECEIVABLE, NET

Accounts receivable consists of the following (in thousands):

	September 30, 2016			December 31, 2015
	(Unaudited)

Contract billings	$	1,770		$	2,586
Retainage		—			347
Subtotal		1,770			2,933
Less - allowance for doubtful accounts		(260	)		(370	)
Accounts receivable, net	$	1,510		$	2,563

6.	INVENTORIES

Inventories are comprised of the following (in thousands):

	September 30, 2016		December 31, 2015
	(Unaudited)

Raw materials	$	939	$	1,120
Finished goods		75		121
Total inventories	$	1,014	$	1,241

7.	GOODWILL AND INTANGIBLE ASSETS, NET

Intangible assets are comprised of the following (in thousands):

	September 30, 2016 (unaudited)							December 31, 2015
	Gross Carrying Amount		Accumulated Amortization			Net Carrying Value		Gross Carrying Amount		Accumulated Amortization			Net Carrying Value
Indefinite-lived intangible assets:
Goodwill	$	—	$	—		$	—	$	1,733	$	—		$	1,733
Trademarks		290		—			290		290		—			290
Total		290		—			290		2,023		—			2,023

Finite-lived intangible assets:
Customer relationships		1,420		(507	)		913		1,420		(355	)		1,065
Total		1,420		(507	)		913		1,420		(355	)		1,065

Total intangible assets	$	1,710	$	(507	)	$	1,203	$	3,443	$	(355	)	$	3,088

Due to continued losses at KBS, we evaluated the KBS goodwill for impairment at September 30, 2016, and determined it was impaired. Accordingly, we recorded an impairment charge of $1.7 million in the quarter ended September 30, 2016.

Amortization expense amounted to approximately $51,000 and $152,000 for the three and nine months ended September 30, 2016, respectively, and approximately $61,000 and $282,000 for the three and nine months ended September 30, 2015, respectively. Estimated amortization of purchased intangible assets over the next five years is as follows (in thousands):

2016 (three months)	$	51
2017		203
2018		203
2019		203
2020		203
Thereafter		50
Total	$	913

8.	UNCOMPLETED CONSTRUCTION CONTRACTS

The status of uncompleted construction contracts is as follows (in thousands):

	September 30, 2016			December 31, 2015
	(Unaudited)

Costs incurred on uncompleted contracts	$	3,152		$	1,155
Inventory purchased for specific contracts		1,449			1,819
Estimated profit		551			142
Subtotal		5,152			3,116
Less billings to date		(4,102	)		(3,409	)
Total	$	1,050		$	(293	)

Included in the following balance sheet captions:
Costs and estimated profit in excess of billings	$	1,524		$	472
Billings in excess of costs and estimated profit		(474	)		(765	)
Total	$	1,050		$	(293	)

The Company had approximately $7.8 million of work under contract remaining to be recognized at September 30, 2016.

9.	ACCOUNTS PAYABLE RETAINAGE

Accounts payable of approximately $4.8 million at September 30, 2016, included retainage amounts due to subcontractors of approximately $0.5 million. Accounts payable of approximately $3.5 million at December 31, 2015 included retainage amounts due to subcontractors totaling approximately $0.5 million. Retainage balances at September 30, 2016 are expected to be settled within the next 12 months.

10.

OTHER ACCRUED LIABILITIES

Other accrued liabilities are comprised of the following (in thousands):

	September 30, 2016		December 31, 2015
	(Unaudited)

Accrued interest expense	$	285	$	502
Accrued severance and related costs		15		331
Accrued sales taxes		499		562
Accrued health insurance costs		172		133
Accrued sales rebates		359		402
Accrued warranty		47		39
Other		21		15
Total other accrued liabilities	$	1,398	$	1,984

In connection with a restructuring of our KBS operations during the third quarter of 2015, we terminated a total of six employees. Accrued severance costs of $15,000 as of September 30, 2016, are payable in equal weekly amounts through October 2016.

Changes in accrued warranty are summarized below (in thousands):

	Nine months ended September 30,
	2016			2015

Accrual balance, beginning of period	$	39		$	78
Accruals for warranties		37			10
Settlements made		(29	)		(31	)
Accrual balance, end of period	$	47		$	57

11.

NOTES PAYABLE

On February 23, 2016, ATRM and KBS entered into the KBS Loan Agreement with Gerber Finance, providing KBS with a revolving line of credit with borrowing availability of up to $4.0 million. The initial term of the KBS Loan Agreement expires on February 22, 2018, but extends automatically for additional one-year periods unless a party provides prior written notice of termination. Availability under the line of credit is based on a formula tied to KBS’s eligible accounts receivable, inventory, equipment and real estate. Borrowings bear interest at the prime rate plus 2.75%, with interest payable monthly. The outstanding principal balance is payable upon expiration of the term of the KBS Loan Agreement. The KBS Loan Agreement also provides for certain fees payable to Gerber Finance during its term. KBS’s obligations under the KBS Loan Agreement are secured by all of its property and assets and are guaranteed by ATRM. Unsecured promissory notes issued by KBS and ATRM are subordinate to KBS’s obligations under the KBS Loan Agreement. The KBS Loan Agreement contains representations, warranties, affirmative and negative covenants, events of default and other provisions customary for financings of this type. Financial covenants require that KBS maintains a maximum leverage ratio (as defined in the KBS Loan Agreement) of 7:1 at December 31, 2016, and that KBS not incur a net annual post-tax loss in any fiscal year during the term of the KBS Loan Agreement. At this time, the Company is projecting that it will not be in compliance with these covenants at December 31, 2016, and has begun discussions with Gerber Finance as to obtaining a waiver. Should the Company be unable to obtain a waiver from Gerber Finance, it would become an event of default. The occurrence of any event of default under the KBS Loan Agreement may result in KBS’s obligations under the KBS Loan Agreement becoming immediately due and payable.

KBS made an initial draw of approximately $2.6 million against the line of credit on February 23, 2016, and the balance owing under the KBS Loan Agreement was approximately $3.0 million at September 30, 2016. We incurred approximately $230,000 of debt issuance costs in connection with the KBS Loan Agreement. As discussed in Note 3, we present unamortized debt issuance costs as a deduction from the carrying amount of the line of credit balance. As of September 30, 2016, the net carrying value of the line of credit was as follows:

Line of credit balance	$	2,986
Unamortized debt issuance costs		(165	)
Line of credit balance, net	$	2,821

In April 2014, as partial consideration for the purchase of KBS, we issued a $5.5 million promissory note to the primary seller of KBS. We were unable to repay the note on its maturity date, December 1, 2014. In April 2015, we asserted certain indemnification and other claims against the sellers of KBS and on June 26, 2015 we entered into a settlement agreement with the sellers related to such claims. The settlement agreement provided for, among other things, the amendment of the note to reduce its principal amount from $5.5 million to $2.5 million and the forgiveness of all then-accrued interest related to the note. The Company recorded a gain of $3.7 million related to the settlement in June 2015, which is reflected in the nine-month period ended September 30, 2015. The amended principal amount is payable in monthly installments of $100,000 on the first business day of each month, which began on July 1, 2015. See Note 12.

12.

LONG-TERM DEBT

Long-term debt consists of the following (in thousands):

	September 30, 2016			December 31, 2015
	(Unaudited)

Promissory note payable to LSVI, issued on April 1, 2014, unsecured, 10% per annum interest payable semi-annually in July and January (12% per annum if PIK Interest option is elected), with any unpaid principal and interest due on April 1, 2019 (1)	$	4,261		$	5,000

Promissory notes payable to LSV Co-Invest I, unsecured, 10% per annum interest payable semi-annually in July and January (12% per annum if PIK Interest option is elected), with any unpaid principal and interest due on April 1, 2019 (2)		4,773			4,500

Promissory note payable, unsecured, payable in monthly installments of $100,000 through July 2017, interest imputed at 9.5% (3)		958			1,757

Installment payment agreement, 8.0% per annum interest, payable in monthly installments of $1,199 through September 2020 (4)		48			56

Notes payable, secured by equipment, 6.6% per annum interest, with varying maturity dates through September 2018		—			44

Total long-term debt		10,040			11,357
Current portion		(969	)		(1,105	)
Noncurrent portion	$	9,071		$	10,252

	(1)	In April 2014, we issued the promissory note to LSVI in the original principal amount of $6.0 million. The proceeds from the note were used to finance a portion of the purchase price for the acquisition of KBS. ATRM made principal payments on the note of $1.0 million on each of December 30, 2014, and February 25, 2016. On August 31, 2016, ATRM elected to pay PIK Interest for the six-month period ended June 30, 2016, totaling $261,000, which has been added to the principal balance. The note is subordinate to obligations under the KBS Loan Agreement.

	(2)	In 2014, in order to provide additional working capital to ATRM, we issued two promissory notes to LSV Co-Invest I in the amounts of $2.5 million and $2.0 million, respectively. On August 31, 2016, ATRM elected to pay PIK Interest for the six-month period ended June 30, 2016, totaling $273,000, which has been added to the principal balance. The notes are subordinate to obligations under the KBS Loan Agreement.

	(3)	Promissory note payable to the principal seller of KBS. The note does not accrue interest unless it is in default, in which case the annual interest rate would be 10%. The Company has imputed interest at an annual rate of 9.5%.

	(4)	Agreement to finance the purchase of software license rights and consulting services related to the implementation of enterprise management information system.

On August 12, 2016, the Company and LSVI and LSV Co-Invest I amended the LSVI and LSV Co-Invest I promissory notes allowing the Company, at its sole option, to elect to make any interest payment in PIK Interest at an effective rate of 12% per annum (versus the 10% interest rate applied to cash payments) for that period. As of August 31, 2016, the Company elected the PIK Interest option for the six-month period ended June 30, 2016. As a result, interest expense for the nine months ended September 30, 2016, includes PIK Interest related to the LSVI and LSV Co-Invest I promissory notes for the semi-annual interest period ended June 30, 2016, totaling $534,000 (calculated at the PIK Interest rate of 12% per annum), which includes the incremental interest of approximately $89,000 for that interest period. This interest has been added to the principal balance of those promissory notes. For the three months ended September 30, 2016, the Company accrued interest expense on the LSVI and LSV Co-Invest I promissory notes at a rate of 12% per annum, based on its current intention to exercise the PIK Interest option for the semi-annual interest period ending December 31, 2016.

As of September 30, 2016, LSVI owned 1,067,885 shares of our common stock, or approximately 47.1% of our outstanding shares. Jeffrey E. Eberwein, ATRM’s Chairman of the Board, is the manager of LSVGP, the general partner of LSVI and LSV Co-Invest I, and sole member of LSVM, the investment manager of LSVI. ATRM’s entry into the securities purchase agreements with LSVI and LSV Co-Invest I was approved by a Special Committee of our Board of Directors consisting solely of independent directors.

13.

STOCK INCENTIVE PLAN AND SHARE-BASED COMPENSATION

ATRM uses the fair value method to measure and recognize share-based compensation. We determine the fair value of stock options on the grant date using the Black-Scholes option valuation model. We determine the fair value of restricted stock awards based on the quoted market price of our stock on the grant date. We recognize the compensation expense for stock options and restricted stock awards on a straight-line basis over the vesting period of the applicable awards.

2014 Incentive Plan

Our 2014 Incentive Plan (the “2014 Plan”) was approved by our Board of Directors on October 9, 2014, and became effective on December 4, 2014, upon approval by shareholders. The 2014 Plan is administered by the Compensation Committee of our Board of Directors. The purpose of the 2014 Plan is to provide employees, consultants and members of our Board of Directors the opportunity to acquire an equity interest in the Company through the issuance of various stock-based awards such as stock options and restricted stock. 100,000 shares of the Company’s common stock are authorized to be issued pursuant to the 2014 Plan.

On June 5, 2015, ATRM granted restricted stock awards for a total of 60,000 shares of the Company’s common stock to its directors and its then chief financial officer. The shares vested one year after the grant date. The fair value of the awards was determined to be $4.48 per share, the closing price of our common stock on the grant date. Compensation expense related to these grants amounted to approximately $0 and $115,000 for the three and nine months ended September 30, 2016, respectively, and $66,000 and $86,000 for the three and nine months ended September 30, 2015, respectively, and is included in the caption “Selling, general and administrative expenses” in our condensed consolidated statement of operations. These shares became fully vested as of June 30, 2016, and all compensation expense related to these grants have been fully recognized.

2003 Stock Incentive Plan

A stock incentive plan approved by our shareholders and adopted in May 2003 (the “2003 Plan”) terminated in February 2013. Stock options granted under the 2003 Plan continue to be exercisable according to their individual terms. The following table summarizes stock option activity under the 2003 Plan for the nine months ended September 30, 2016:

	Number of Shares		Weighted Average Exercise Price		Weighted Average Remaining Contract Term		Aggregate Intrinsic Value (in thousands)
Outstanding, January 1, 2016		27,500	$	6.88
No activity during the nine months ended September 30, 2016
Outstanding, September 30, 2016		27,500	$	6.88		0.75 years	$	0

Exercisable, September 30, 2016		27,500	$	6.88		0.75 years	$	0

All stock options outstanding at September 30, 2016, are nonqualified options which expire at varying dates through November 2017. The aggregate intrinsic values in the table above are zero because the option exercise prices for all outstanding options exceeded ATRM’s closing stock price on September 30, 2016.

14.

INCOME TAXES

We record the benefit we will derive in future accounting periods from tax losses and credits and deductible temporary differences as “deferred tax assets”. We record a valuation allowance to reduce the carrying value of our net deferred tax assets if, based on all available evidence, it is more likely than not that some or all of the deferred tax assets will not be realized. Since 2009, we have maintained a valuation allowance to fully reserve our deferred tax assets. We recorded a full valuation allowance in 2009 because we determined there was not sufficient positive evidence regarding our potential for future profits to outweigh the negative evidence of our three-year cumulative loss position at that time. We expect to continue to maintain a full valuation allowance until we determine that we can sustain a level of profitability that demonstrates our ability to realize these assets. To the extent we determine that the realization of some or all of these benefits is more likely than not based upon expected future taxable income, a portion or all of the valuation allowance will be reversed. Such a reversal would be recorded as an income tax benefit and, for some portion related to deductions for stock option exercises, an increase in shareholders’ equity.

At September 30, 2016, we have recorded a deferred tax liability of $18,000 for the taxable differences related to our indefinite-lived intangible assets when calculating our valuation allowance due to the unpredictability of the reversal of these differences.

15.

LEGAL PROCEEDINGS

UTHE Technology Corporation v. Aetrium Incorporated

Since December 1993, an action brought by UTHE Technology Corporation (“UTHE”) against ATRM and its then sales manager for Southeast Asia (“Sales Manager”), asserting federal securities claims, a RICO claim, and certain state law claims, had been stayed in the United States District Court for the Northern District of California. UTHE’s claims were based on its allegations that four former employees of a Singapore company, which UTHE formerly owned, conspired to and did divert business from the subsidiary, and in turn UTHE, and directed that business to themselves and a secret company they had formed, which forced UTHE to sell its subsidiary shares to the former employee defendants at a distressed price. The complaint alleged that ATRM and the Sales Manager participated in the conspiracy carried out by the former employee defendants. In December 1993, the case was dismissed as to the former employee defendants because of a contract requiring UTHE and them to arbitrate their claims in Singapore. The District Court stayed the case against ATRM and the Sales Manager pending the resolution of arbitration in Singapore involving UTHE and three of the former employee defendants, but not involving ATRM or the Sales Manager. ATRM received notice in March 2012 that awards were made in the Singapore arbitration against one or more of the former employee defendants who were parties to the arbitration. In June 2012, UTHE filed a motion to reopen the case against ATRM and the Sales Manager and to lift the stay, which the court granted. On September 13, 2013, the court entered final judgment dismissing all remaining claims UTHE asserted against ATRM in the litigation. On September 23, 2013, UTHE appealed the district court judgment to the United States Court of Appeal for the Ninth Circuit only as to the dismissal of UTHE’s RICO claim. The appeal was argued in a court hearing on November 19, 2015. On December 11, 2015, the Court of Appeal issued an order reversing the district court’s grant of summary judgment of UTHE’s RICO claim and remanded the case back to the district court for further proceedings. On April 20, 2016, the district court stayed the case pending a decision in the Supreme Court case RJR Nabisco, Inc. v. The European Community, No. 15-138. A decision in the RJR Nabisco case was issued on June 20, 2016. On July 14, 2016, ATRM filed a motion for summary judgment in the district court seeking dismissal in light of the RJR Nabisco decision. On August 26, 2016, the district court granted ATRM’s motion for summary judgment and the case was dismissed. On September 19, 2016, UTHE filed its appeal of the district court’s summary judgment. UTHE’s opening appeal brief is due on December 28, 2016. The Company will have until January 30, 2017, to submit its response brief, to which UTHE will have until February 13, 2017, to file a response brief. The court will set a date for hearing oral arguments, after which the court will render its decision on the appeal. We continue to believe that the claims asserted in this matter do not have any merit and intend to vigorously defend the action.

Avila Plumbing & Heating Contractor, Inc. v. Modular Fun I, Inc. f/k/a KBS Building Systems, Inc. & KBS Builders, Inc. (Maine Superior Court, Oxford County, CV-15-39)

Avila Plumbing and Heating Contractor, Inc. (“Contractor”) had alleged that Modular Fun I, Inc., f/k/a KBS Building Systems Inc. & KBS Builders, Inc. (the “KBS Parties”) had failed to pay Contractor $476,477.46 that Contractor had claimed it was entitled to pursuant to contracts between it and the KBS Parties. Contractor had claimed it entered into agreements with the KBS Parties in relation to two separate projects to supply materials and furnish services relating to the design and installation of plumbing and HVAC systems. Contractor had claimed it did the work and furnished the materials contracted for and that the KBS Parties had not paid it pursuant to the contract. KBS had countersued for breach of contract and negligence, claiming that Contractor had failed to properly complete the plumbing and HVAC services it was retained to perform on one of the projects. The general contractor on that project had refused to pay KBS $518,842 that KBS was owed citing significant deficiencies in work performed and materials installed by Contractor as its reason for withholding payment from KBS. KBS had filed a lien in the amount of $518,842 on the property where such project is located and had brought a separate suit against the general contractor and others in Middlesex Superior Court in Massachusetts to enforce its lien and collect the amount owed to KBS on the project. The case was dismissed on April 12, 2016.

KBE Building Corporation v. KBS Builders, Inc., and ATRM Holdings, Inc., et. al.

At the time of the KBS acquisition in April 2014, KBS purchased receivables for a construction project known as the Nelton Court Housing Project (“Nelton Court”) in Hartford, CT, and also performed certain “punch-list” and warranty work. Modular units for the Nelton Court project were supplied by KBS Building Systems, Inc. (“KBS-BSI”) pursuant to a contract with KBE Building Corporation (“KBE”). KBE has asserted claims against KBS-BSI, KBS and ATRM arising out of alleged delays, and for the repair of certain alleged defects in the modular units supplied to the project. KBE’s claim seeks an unspecified amount of damages. The action has been transferred to the complex litigation docket of the Hartford Superior Court. The Court has set a trial date for February 2018. We continue to believe that the claims asserted in this matter do not have any merit and intend to vigorously defend the action.

16.

SUBSEQUENT EVENTS

EBGL Asset Purchase

On October 4, 2016, the Company acquired certain assets of EdgeBuilder Wall Panels, Inc. and Glenbrook Lumber & Supply, Inc. (collectively, the “Sellers”) through the Company’s newly-formed wholly-owned subsidiaries EdgeBuilder, Inc. (“EdgeBuilder”) and Glenbrook Building Supply, Inc. (“Glenbrook”), respectively, pursuant to the terms of an Asset Purchase Agreement, dated as of the same date (the “Purchase Agreement”), by and among the Company, EdgeBuilder, Glenbrook, the Sellers and the individual owners of the Sellers (the “EBGL Acquisition”). The Company operates the businesses of EdgeBuilder and Glenbrook on a combined basis, and such businesses are referred to on a combined basis as “EBGL”.

Consideration for the EBGL Acquisition included approximately $4.0 million in cash, of which approximately $3.0 million (net of liability assumed) was paid at closing and $1.0 million is payable in four equal installments on the first day of each of the next four fiscal quarters, and 100,000 shares of the Company’s common stock, and a potential earn-out payment of up to $1.0 million based upon the amount by which EBGL’s gross profit over the 12 months commencing October 1, 2016, exceeds a specified target and the assumption of certain liabilities of the Sellers related to the purchased assets. The cash portion of the purchase price is subject to a post-closing adjustment based on the amount of inventory and pre-paid expenses included in the purchased assets, and the shares are subject to transfer restrictions for 12 months following the closing.

Estimated total purchase price is as follows:

Cash paid at closing	$	2,960
NPV of deferred payment		941
Fair Value of contingent earnout		943
Fair value of ATRM common stock issued		149
Estimated true-up payment		206
Total purchase price	$	5,199

Preliminary fair values of assets and liabilities acquired in the transaction are as follows:

Inventory	$	894
Equipment		289
Prepaid and other assets		12
Assumed Liabilities (PTO)		(40	)
Intangibles (backlog, customer list, trademarks, goodwill)		4,044
Total net assets acquired	$	5,199

We incurred expenses for professional fees associated with the EBGL Acquisition of approximately $0.4 million in the nine months ended September 30, 2016. These costs are included in the caption “Selling, general and administrative expenses” in our condensed consolidated statement of operations.

Financing from Gerber Finance Inc.

On October 4, 2016, concurrently with the closing of the EGBL Acquisition, the Company entered into a Loan and Security Agreement, dated as of the same date (the “EBGL Acquisition Loan Agreement”), with EBGL as the borrowers, the Company and its wholly-owned subsidiaries KBS Builders, Inc. and Maine Modular Haulers, Inc. as guarantors, and Gerber Finance as the lender, pursuant to which Gerber Finance provided EBGL with $3.0 million in financing for the EBGL Acquisition. On October 4, 2016, concurrently with the closing of the EBGL Acquisition, the same parties also entered into a Loan and Security Agreement, dated as of the same date (the “EBGL LOC Loan Agreement”), pursuant to which Gerber Finance agreed to provide EBGL with a working capital line of credit of up to $3.0 million. The EBGL Acquisition Loan Agreement and the EBGL LOC Loan Agreement are referred to collectively as the “EBGL Loan Agreements”.

Borrowings under the EBGL Acquisition Loan Agreement bear interest at the prime rate plus 3.00%, with interest payable monthly and the outstanding principal balance payable upon expiration of the term of the EBGL Acquisition Loan Agreement. The initial term of the EBGL Acquisition Loan Agreement expires on December 31, 2018, but extends automatically for additional one-year periods unless a party provides prior written notice of termination. Availability under the EBGL LOC Loan Agreement is based on a formula tied to the borrowers’ eligible accounts receivable, inventory and equipment, and borrowings bear interest at the prime rate plus 2.75%, with interest payable monthly and the outstanding principal balance payable upon expiration of the term of the EBGL LOC Loan Agreement. Initially, availability under the EBGL LOC Loan Agreement is limited to $1.0 million, which amount may be increased to up to $3.0 million in increments upon request of the borrowers and in the discretion of Gerber Finance. The initial term of the EBGL LOC Loan Agreement expires on October 3, 2018, but extends automatically for additional one-year periods unless a party provides prior written notice of termination.

The EBGL Loan Agreements provide for certain fees payable to Gerber Finance during their terms, including but not limited to a monthly minimum loan amount fee and an annual facility fee. The borrowers’ obligations under the EBGL Loan Agreements are secured by all of their property and assets and are guaranteed by the Company and its other subsidiaries. The EBGL Loan Agreements contain representations, warranties, affirmative and negative covenants, events of default and other provisions customary for agreements of this type. Financial covenants include maintenance of a minimum tangible net worth and a minimum debt service coverage ratio at fiscal year end. The occurrence of any event of default under any EBGL Loan Agreement may result in the obligations thereunder becoming immediately due and payable.

As a condition to the extension of credit to the borrowers under the EBGL Loan Agreements, the Sellers entered into a subordination agreement, and certain holders of unsecured promissory notes issued by the Company entered into amendments to their existing subordination agreements, with Gerber Finance and the Company pursuant to which the obligations of the Company to such parties are subordinated to the obligations to Gerber Finance under the EBGL Loan Agreements.

Financing from Lone Star Value Co-Invest I, LP

On October 4, 2016, the Company issued to LSV Co-Invest I an unsecured promissory note made by the Company in the principal amount of $2.0 million in exchange for $2.0 million in cash (the “October 2016 LSV Co-Invest I Note”). The October 2016 LSV Co-Invest I Note was issued pursuant to a securities purchase agreement by and between the Company and LSV Co-Invest I. The October 2016 LSV Co-Invest I Note bears interest at 10.0% per annum, with interest payable semiannually; provided, however, for interest accruing during the 365 days after the issuance of the October 2016 LSV Co-Invest I Note, the Company may elect to make any interest payment in PIK Interest at an annual rate of 12.0%, so long as any such interest payment is made either entirely in PIK Interest or 50% cash and 50% PIK Interest. LSV Co-Invest I may elect to receive PIK Interest in lieu of cash starting 366 days after the issuance of the October 2016 LSV Co-Invest I Note. Any unpaid principal and interest under the October 2016 LSV Co-Invest I Note is due on April 1, 2019. The Company may prepay the October 2016 LSV Co-Invest I Note at any time after a specified amount of advance notice to LSV Co-Invest I (subject to restrictions under the Company’s loan agreements with Gerber Finance). The October 2016 LSV Co-Invest I Note provides for customary events of default, the occurrence of any of which may result in the principal and unpaid interest then outstanding becoming immediately due and payable.

ATRM HOLDINGS, INC.

Item 2.

Management’s Discussion and Analysis of Financial Condition and Results of Operations

The following discussion and analysis should be read in conjunction with our unaudited condensed consolidated financial statements, and the notes thereto, and other financial information appearing elsewhere in this Quarterly Report on Form 10-Q and the audited consolidated financial statements and notes thereto included in our Annual Report on Form 10-K for the fiscal year ended December 31, 2015 (the “2015 10-K”). All figures in the following discussion are presented on a consolidated basis. All dollar amounts and percentages presented herein have been rounded to approximate values.

Forward-Looking Statements

This report may contain “forward-looking statements”, as such term is used within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are not based on historical fact and involve assessments of certain risks, developments, and uncertainties in our business looking to the future. Such forward-looking statements can be identified by the use of terminology such as “may”, “will”, “should”, “expect”, “anticipate”, “estimate”, “intend”, “continue”, or “believe”, or the negatives or other variations of these terms or comparable terminology. Forward-looking statements may include projections, forecasts, or estimates of future performance and developments. These forward-looking statements are based upon assumptions and assessments that we believe to be reasonable as of the date of this report. Whether those assumptions and assessments will be realized will be determined by future factors, developments, and events, which are difficult to predict and may be beyond our control. Actual results, factors, developments, and events may differ materially from those we assumed and assessed. Risks, uncertainties, contingencies, and developments, including those discussed in “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in this report and those identified in “Risk Factors” in the 2015 10-K, could cause our future operating results to differ materially from those set forth in any forward-looking statement. There can be no assurance that any such forward-looking statement, projection, forecast or estimate contained can be realized or that actual returns, results, or business prospects will not differ materially from those set forth in any forward-looking statement. Given these uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. We disclaim any obligation to update any such factors or to publicly announce the results of any revisions to any of the forward-looking statements contained herein to reflect future results, events or developments.

Results of Operations

Net Loss. Net loss for the nine months ended September 30, 2016, was approximately $5.3 million as compared to net loss of approximately $1.5 million for the same period in 2015. The change from the prior year period was primarily due to a nonrecurring, non-cash $1.7 million impairment charge taken in September 2016 related to the write-down of the KBS goodwill in addition to a one-time settlement gain of approximately $3.7 million recognized in the 2015 periods, without a similar gain in the 2016 periods partially offset by improved gross margins and lower overall operating costs due to ongoing cost control measures. For the three months ended September 30, 2016, the Company incurred a net loss of approximately $2.5 million, which included the nonrecurring, non-cash $1.7 million goodwill impairment charge recorded in September 2016. This compares to a net loss of approximately $2.4 million for the same period in 2015. The decrease of $0.1 million was primarily related to the $1.7 million goodwill impairment charge taken in 2016, partially offset by $0.5 million in increased sales, $0.6 million in lower cost of goods sold and $0.5 million in lower selling, general and administrative expenses versus the same period of the prior year (see further discussion below).

Net Sales. Net sales were approximately $17.9 million for the nine months ended September 30, 2016, compared with approximately $20.0 million for the same period in 2015. While net sales for the first nine months of the year decreased by approximately $2.1 million versus the prior year, the Company believes that its strategic initiatives at KBS are beginning to show positive results. While the nine-month results show a decrease in net sales, the results for the three months ended September 30, 2016, show that net sales increased over the prior year. The decrease in net sales for the nine months ended September 30, 2016, versus the prior year was primarily attributable to a decrease in sales of commercial structures and to a lesser extent a decrease in sales of residential homes. Sales of residential homes amounted to approximately $14.1 million for the nine months ended September 30, 2016, compared with approximately $14.7 million for the same period in 2015. The decrease was primarily attributable to generally lower sales volume in the first half of 2016 and delays in re-opening our Waterford factory. Sales of commercial structures were approximately $3.8 million for the nine months ended September 30, 2016, compared with approximately $5.3 million for the same period in 2015. We have completed the service work related to these “legacy” projects and believe we are now in a position to grow our commercial business with project scopes and terms that are more favorable to KBS than in the past. KBS continues to be selective in the major commercial projects it selects and is seeking out good quality commercial projects with desirable customers. Sales for the three months ended September 30, 2016, increased to $6.9 million compared with $6.4 million for the same period in 2015. This was primarily due to the increase in net sales related to commercial projects which totaled approximately $1.4 million for the three months ended September 30, 2016, as compared to only $0.6 million for the three months ended September 30, 2015. This increase was partially offset by a decrease in net sales from residential single family homes, which for the three months ended September 30, 2016, totaled approximately $5.5 million as compared to approximately $5.8 million for the three months ended September 30, 2015.

Cost of Sales. Cost of sales amounted to approximately $17.2 million for the nine months ended September 30, 2016, compared with approximately $20.4 million for the same period in 2015. The decrease in 2016 was attributed primarily to lower commercial project sales, partially offset by reduced costs related to legacy projects. Cost of goods sold in both 2016 and 2015 reflected inefficiencies associated with seasonally slower sales activity typically experienced in the first quarter as we retained skilled workers for the upcoming building season. Additionally, for the second quarter of 2016, we incurred additional costs related to bringing our second factory back up to full production level in anticipation of the peak building season. Cost of sales amounted to approximately $6.3 million for the three months ended September 30, 2016, compared with approximately $6.9 million for the same period in 2015. Despite the increase in sales for the quarter, the decrease in cost of sales versus the prior year third quarter is the result of the Company’s concerted efforts to be more selective on commercial projects, improved project pricing and ongoing cost control measures.

Selling, General and Administrative. Selling, general and administrative (“SG&A”) expense was approximately $3.2 million and $3.7 million for the nine months ended September 30, 2016, and 2015, respectively. The decrease in SG&A expense of $0.5 million is primarily attributable to non-recurring severance costs of approximately $0.4 million recorded in September 2015 related to the restructuring of KBS operations in 2015. No such expense was incurred in 2016. SG&A expense was approximately $1.0 million the three months ended September 30, 2016, as compared with $1.5 million for the same period in 2015. The decrease of approximately $0.4 million is primarily attributable to a $0.4 million reduction in severance costs discussed above.

Goodwill Impairment Charge. We completed a goodwill impairment assessment as of September 30, 2016, and determined that the value of goodwill was zero versus the carrying value of goodwill of $1.7 million as of that date. While the Company continues to implement its strategic plans for change at KBS and these changes are beginning to materialize in KBS’s operating results, KBS’s performance has lagged behind management’s expectations and we have been unable to fully perform to our projected levels of revenue and net income. Despite improving operating results, actual results have continued to fall short of expectations. Accordingly, until we can perform to the levels of our expectations, we determined that it was prudent to adjust our projections in our impairment analysis to reflect the historical shortfalls in results. Accordingly, we recorded a goodwill impairment charge in the amount of approximately $1.7 million in the three and nine months ended September 30, 2016. No impairment charge was recorded in the three and nine months ended September 30, 2015.

Interest Expense. Interest expense remained unchanged at approximately $1.1 million for the nine months ended September 30, 2016, and 2015. While the Company was able to reduce interest related to the reduction in the principal of the promissory note owed to the seller of KBS as a result of the negotiated settlement, the Company had increased interest expense related to the Gerber revolving working capital line of credit at KBS as well as increased interest expense related to the PIK Interest option on the LSVI and LSV Co-Invest I promissory notes. Interest expense for the three months ended September 30, 2016, was approximately $0.4 million versus $0.3 million for the three months ended September 30, 2016. The increase is primarily related to the Company accruing interest on the LSVI and LSV Co-Invest I promissory notes at the PIK Interest rate of 12% (versus 10% effective interest rate for the cash payment of interest) in 2016 as it expects to elect the PIK Interest option for the current interest period.

Settlement Gain. As noted above, in the nine months ended September 30, 2015, we recorded a settlement gain of approximately $3.7 million as a result of the settlement agreement with the primary seller of KBS whereby, among other things, the principal amount on the seller’s note was reduced from $5.5 million to $2.5 million and all then-accrued interest related to the note was forgiven. There was no similar gain for the same period of 2016.

Income Taxes. Since 2009, we have maintained a valuation allowance to fully reserve our deferred tax assets. We expect to continue to maintain a full valuation allowance until we determine that we can sustain a level of profitability that demonstrates our ability to realize these assets. To the extent we determine that the realization of some or all of these benefits is more likely than not based upon expected future taxable income, a portion or all of the valuation allowance will be reversed. Such a reversal would be recorded as an income tax benefit and, for some portion related to deductions for stock option exercises, an increase in shareholders’ equity. We recorded income tax expense of $7,000 and $4,000 for the nine months ended September 30, 2016 and 2015, respectively, which included deferred income tax expense associated with taxable differences related to our indefinite-lived intangible assets which are omitted from the calculation of our valuation allowance due to the unpredictability of the reversal of these differences.

Financial Condition, Liquidity and Capital Resources

Cash and cash equivalents decreased by approximately $0.5 million in the nine months ended September 30, 2016.

Cash flows used in operating activities. In the nine months ended September 30, 2016, cash flows used in operating activities were approximately $1.8 million, consisting primarily of our net loss of approximately $5.3 million partially offset by the non-cash goodwill impairment charge of approximately $1.7 million, non-cash PIK Interest of approximately $0.5 million, approximately $0.6 million of non-cash depreciation amortization and share-based compensation expense, and changes in net working capital of approximately $0.7 million. Working capital changes for the nine-month period ended September 30, 2016, netted to approximately $0.7 and included a $1.2 million increase in trade accounts payable due to the timing of payments and increased production activity in the quarter ended September 30, 2016, while decreases in accounts receivable of $1.1 million and increases in costs and estimated profit in excess of billings of $1.1 million related to homes completed but not yet shipped as of September 30, 2016. Other changes in working capital included an increase of approximately $0.1 million in other current assets and decreases of approximately $0.3 million and $0.6 million in billings in excess of costs and estimated profit, and other accrued liabilities, respectively, partially offset by a decrease of approximately $0.2 million in inventory and an increase of approximately $0.3 million in accrued compensation.

In the nine months ended September 30, 2015, cash flows used in operating activities was approximately $4.0 million, consisting primarily of our net loss of approximately $5.2 million (excluding a $3.7 million non-cash settlement gain), partially offset by approximately $0.6 million in non-cash depreciation, amortization and share-based compensation expense and approximately $0.5 million in working capital changes. Working capital changes generating cash included decreases of approximately $0.8 million in costs and estimated profit in excess of billings and increases of $0.4 million in billings in excess of costs and estimated profit, $0.2 million in accrued compensation and $0.4 million in other accrued liabilities, partially offset by a $1.0 million increase in accounts receivable and a decrease of approximately $0.4 million in accounts payable. The increases in accounts receivable and billings in excess of costs and estimated profit and the decreases in costs and estimated profit in excess of billings primarily reflected a relatively higher average percentage of completion of KBS commercial projects in progress at September 30, 2015 compared with that at December 31, 2014. The decrease in accounts payable resulted primarily from the timing of payments. The increase in other accrued liabilities included a $0.4 million accrual for severance costs related to the restructuring of our KBS operations described above and a $0.2 million accrual for reimbursement of certain fees and expenses of a related party, partially offset by decreases of $0.1 million in each of accrued health insurance costs and accrued facility costs.

Cash flows generated by investing activities. Cash flows from investing activities were approximately $0.3 million for the nine-month period ended September 30, 2016, as compared with $1.1 million for the nine-month period ended September 30, 2015. The decrease was primarily the result of lower royalty payments received related to the transfer of a former product line to a third party in fiscal year 2014. Royalty payments for the nine months ended September 30, 2016 were approximately $0.2 million versus $1.1 million for the same period in 2015. In addition to lower sales volume in 2016, the royalty rate was reduced from approximately 14% (on average) to approximately 9.5% (on average) in 2016 per agreement.

Cash flows generated by financing activities. In the nine months ended September 30, 2016, cash flows generated by financing activities was approximately $1.0 million, which included approximately $3.0 million of net advances under the KBS Loan Agreement, partially offset by the payments of approximately $0.2 million of costs related to our entry into the KBS Loan Agreement and approximately $1.9 million to reduce principal balances of our long-term debt. In the nine months ended September 30, 2015, cash flows generated by financing activities was approximately $2.7 million, which consisted primarily of $3.0 million from the issuance of common stock and $1.0 million received from the sale of a $1.0 million promissory note to LSVI, partially offset by principal repayments of approximately $1.3 million.

We have incurred significant operating losses in recent years. Beginning in 2013, we implemented several strategic initiatives intended to stabilize the Company and return us to profitability, including the sales of two semiconductor equipment product lines in July 2013 and April 2014, respectively. Also in April 2014, we acquired KBS because we believed there is significant growth opportunity in the modular housing industry and it provides ATRM with the potential to return to profitability. However, there can be no assurance that KBS will generate sufficient revenue in the future to cover our expenses and allow us to achieve profitability, on a consistent basis or at all.

As discussed in Note 11 to our condensed consolidated financial statements, on February 23, 2016, we entered into the KBS Loan Agreement with Gerber Finance providing KBS with a credit facility with borrowing availability of up to $4.0 million. At this time, the Company is projecting that it will not be in compliance with these covenants at December 31, 2016, and has begun discussions with Gerber Finance as to obtaining a waiver. Should the Company be unable to obtain a waiver from Gerber Finance, it would become an event of default. The occurrence of any event of default under the KBS Loan Agreement may result in KBS’s obligations under the KBS Loan Agreement becoming immediately due and payable.

As of September 30, 2016, we had outstanding debt totaling approximately $12.9 million. This debt included $2.8 million (net of deferred financing costs) owed under a line of credit with Gerber Finance under the KBS Loan Agreement and approximately $1.0 million principal amount outstanding under an unsecured promissory note issued to the primary seller of KBS. Our debt also includes $4.3 million principal amount of a promissory note issued to LSVI and $4.8 million principal amount of promissory notes issued to LSV Co-Invest I. Interest on these notes is payable semiannually and any unpaid principal and interest is due on April 1, 2019.

We received a waiver from LSVI and LSV Co-Invest I with respect to our interest payments under the LSVI and LSV Co-Invest I promissory notes due on July 5, 2016, totaling approximately $445,000, permitting us to make these payments at any time on or before August 31, 2016. On August 12, 2016, the Company and LSVI and LSV Co-Invest I amended the LSVI and LSV Co-Invest I promissory notes allowing the Company, at its sole option, to elect to make any interest payment in PIK Interest at an annual rate of 12% (versus the 10% interest rate applied to cash payments) for that period. As of August 31, 2016, the Company elected the PIK Interest option for the six-month period ended June 30, 2016. The Company also accrued interest on the LSVI and LSV Co-Invest I promissory notes for the three months ended September 30, 2016, at the PIK Interest rate of 12% per annum as it expects to elect the PIK interest option when the interest payment becomes due in June 2017.

We intend to pursue new financing at the parent level to replace all or a portion of the debt owing to LSVI and LSV Co-Invest I and to provide for our general working capital needs. There can be no assurance we will be successful in obtaining such new financing, on terms favorable to us or at all. Until such time as we obtain additional financing, we may be dependent on LSVI and LSV Co-Invest I, or other third parties, to provide for our general working capital needs. Although not a binding commitment, LSVM has advised us of its present intention to continue to financially support the Company as we pursue new financing.

There can be no assurance that our cash and cash equivalents, together with funds generated by our operations and any future financings, will be sufficient to satisfy our debt payment obligations. In addition, in order to execute our long-term growth strategy, which may include additional acquisitions, we may need to raise additional funds through public or private equity offerings, debt financings, or other means.

Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Not applicable

Item 4.

Controls and Procedures

Evaluation of Disclosure Controls and Procedures

As of the end of the period covered by this report, our chief executive officer and our chief financial officer conducted an evaluation of the effectiveness of the design and operation of our disclosure controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e) under the Securities Exchange Act of 1934, as amended (the “Exchange Act”)). Based on their evaluation of our disclosure controls and procedures, our chief executive officer and chief financial officer concluded that our disclosure controls and procedures were not effective as of September 30, 2016, to ensure that information required to be disclosed by the Company in the reports that we file or submit under the Exchange Act is (a) recorded, processed, summarized and reported within the time periods specified in the SEC’s rules and forms and (b) accumulated and communicated to management, including our chief executive officer and chief financial officer, as appropriate to allow for timely decisions regarding required disclosure.

Description of Material Weakness

KBS, which we acquired in April 2014, represents our primary business activity. Prior to the acquisition, the KBS operations were a privately-owned business with very limited administrative and accounting resources, outdated accounting software and generally weak accounting processes and internal control procedures. Specifically, material weaknesses existed in KBS’s financial reporting processes with respect to (1) control over accounts payable cut-offs, (2) inventory accounting, (3) contract accounting and (4) inadequate segregation of duties in certain accounting processes, including the payroll, cash receipts and disbursements processes and management of user access rights in our accounting system, partly as a result of our limited size and accounting staff.

Remediation of Material Weakness

We are working to remediate these material weaknesses. Since the April 2014 acquisition of KBS, we hired an accounting professional in July 2014 with relevant experience to assist in the effort to implement improvements at KBS and implemented additional organizational changes in 2015 to strengthen the accounting and other administrative functions at KBS. We have implemented improvements in processes, procedures and controls, including in the areas of payroll processing, contract accounting, proper transaction cutoffs, inventory controls, financial reporting and management oversight. In January 2016, we installed a new management information system at KBS that we believe, when fully implemented, will significantly improve our reporting and controls. During 2016, we continued to implement new procedures with respect to inventory accounting and controls, as well as continued work on the integration of the new management information system. Although significant progress has been made in improving the controls at KBS, additional time is required to fully develop adequate processes, procedures and controls and to determine that such processes and controls are effective. We will continue to work to improve such processes, procedures and controls, and will disclose in future periods the progress we have made in our efforts to remediate these material weaknesses.

Changes in Internal Control Over Financial Reporting

As a result of the control deficiencies at KBS discussed above, we determined that we have material weaknesses in our internal control over financial reporting. We are working to remediate these material weaknesses as discussed above.

PART II. OTHER INFORMATION

Item1. Legal Proceedings

UTHE Technology Corporation v. Aetrium Incorporated

Avila Plumbing & Heating Contractor, Inc. v. Modular Fun I, Inc. f/k/a KBS Building Systems, Inc. & KBS Builders, Inc. (Maine Superior Court, Oxford County, CV-15-39)

KBE Building Corporation v. KBS Builders, Inc., and ATRM Holdings, Inc., et. al.

At the time of the KBS acquisition in April 2014, KBS purchased receivables for a construction project known as the Nelton Court Housing Project (“Nelton Court”) in Hartford, CT, and also performed certain “punch-list” and warranty work. Modular units for the Nelton Court project were supplied by KBS Building Systems, Inc. (“KBS-BSI”) pursuant to a contract with KBE Building Corporation (“KBE”). KBE has asserted claims against KBS-BSI, KBS and ATRM arising out of alleged delays, and for the repair of certain alleged defects in the modular units supplied to the project. KBE’s claim seeks an un-specified amount of damages. The action has been transferred to the complex litigation docket of the Hartford Superior Court. The Court has set a trial date for February 2018. We continue to believe that the claims asserted in this matter do not have any merit and intend to vigorously defend the action.

Item1A. Risk Factors

Not applicable.

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds

None.

Item 3. Defaults on Senior Securities

None.

Item 4. Mine Safety Disclosures

None.

Item 5. Other Information

None.

Item 6. Exhibits

	4.1	Amendment No. 1 to Promissory Note dated April 1, 2014.
	4.2	Amendment No. 1 to Promissory Notes dated July 21, 2014 and September 19, 2014.
	31.1	Certification of Principal Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
	31.2	Certification of Principal Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
	32.1	Certification pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
	101.INS	XBRL Instance Document
	101.SCH	XBRL Taxonomy Extension Schema
	101.CAL	XBRL Taxonomy Extension Calculation Linkbase
	101.DEF	XBRL Taxonomy Extension Definition Linkbase
	101.LAB	XBRL Taxonomy Extension Label Linkbase
	101.PRE	XBRL Taxonomy Extension Presentation Linkbase

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

		ATRM HOLDINGS, INC.
		(Registrant)

Date: November 15, 2016	By:	/s/ Daniel M. Koch
		Daniel M. Koch
		President and Chief Executive Officer (Principal Executive Officer)

Date: November 15, 2016	By:	/s/ Stephen A. Clark
		Stephen A. Clark
		Chief Financial Officer (Principal Financial and Accounting Officer)

EXHIBIT INDEX

	4.1	Amendment No. 1 to Promissory Note dated April 1, 2014.
	4.2	Amendment No. 1 to Promissory Notes dated July 21, 2014 and September 19, 2014.
	31.1	Certification of Principal Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
	31.2	Certification of Principal Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
	32.1	Certification pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
	101.INS	XBRL Instance Document
	101.SCH	XBRL Taxonomy Extension Schema
	101.CAL	XBRL Taxonomy Extension Calculation Linkbase
	101.DEF	XBRL Taxonomy Extension Definition Linkbase
	101.LAB	XBRL Taxonomy Extension Label Linkbase
	101.PRE	XBRL Taxonomy Extension Presentation Linkbase

EX-4.1 2 ex4-1.htm

AMENDMENT NO. 1 to PROMISSORY NOTE of

ATRM HOLDINGS, INC. (F/K/A AETRIUM INCORPORATED)

DATED APRIL 1, 2014 FBO LONE STAR VALUE INVESTORS, LP (THE “NOTE”)

the referenced note is subject to the provisions of a certain Subordination Agreement dated February 23, 2016 in favor of Gerber Finance, Inc.

THIS AMENDMENT NO. 1 to the Note, dated as of August 12, 2016 (this “Amendment”), is made by and among ATRM Holdings, Inc. (f/k/a Aetrium Incorporated), a Minnesota corporation (the “Debtor”) and Lone Star Value Investors, LP, a Delaware limited partnership (the “Holder”).

NOW THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties agree as follows:

1. Section 2(a) of the Note is hereby amended and restated as follows:

“Interest shall accrue on the unpaid principal balance of this Note at the rate of ten percent (10.0%) per annum, and shall be payable semiannually in cash on the third business day of each January and July (each, an “Interest Payment Date”) in respect of the immediately preceding semi-annual period; provided, however, the Debtor may elect, at its sole discretion, to make any such interest payment in kind by substituting for the abovementioned interest rate a rate of twelve percent (12.0%) per annum for the applicable interest period (“PIK Interest”). PIK Interest shall bear interest from the applicable Interest Payment Date at the same rate (as provided in the immediately preceding sentence) and be payable in the same manner as in the case of the original principal amount of this Note and shall otherwise be treated as principal of this Note for all purposes. From and after each Interest Payment Date with respect to which the Debtor elects to pay PIK Interest, the principal amount of this Note shall, without further action on the part of the Debtor or the Holder, be deemed to be increased by the PIK Interest so capitalized and added to principal in accordance with the provisions hereof. Interest shall be calculated from and include the date hereof and shall be calculated on an actual/360-day basis.”

2. Except as expressly set forth in this Amendment, the Note shall remain unchanged, in full force and effect, and enforceable against the Debtor in accordance with its terms.

3. All of the terms and provisions of this Amendment shall be applicable to and binding upon the parties hereto and their respective successors and assigns.

4. This Amendment and any dispute, disagreement, or issue of construction or interpretation arising hereunder, whether relating to its execution, its validity, the obligations provided therein or performance, shall be governed and interpreted according to the law of the State of Minnesota, without regard to principals of conflicts of law.

5. This Amendment may be executed in two or more counterparts, each of which shall be deemed to be an original copy and all of which, when taken together, shall be deemed to constitute one and the same agreement, and photostatic, .pdf or facsimile copies of fully-executed counterparts of this Amendment shall be given the same effect as originals.

[Signature Page Follows]

IN WITNESS WHEREOF, the undersigned parties have caused this Amendment to be duly executed by their respective authorized signatories as of the day and year first herein above written.

	ATRM HOLDINGS, INC.

	By:	/s/ Daniel M. Koch
	Name:	Daniel M. Koch
	Title:	President and Chief Executive Officer

AGREED AND ACCEPTED BY:

LONE STAR VALUE INVESTORS, LP

By:	Lone Star Value Investors GP, LLC General Partner

By:	/s/ Jeffrey E. Eberwein
Name:	Jeffrey E. Eberwein
Title:	Manager

EX-4.2 3 ex4-2.htm

AMENDMENT NO. 1 to PROMISSORY NOTES of

ATRM HOLDINGS, INC. (F/K/A AETRIUM INCORPORATED)

DATED JULY 21, 2014 FBO Lone Star Value Co-Invest I, LP

DATED SEPTEMBER 19, 2014 FBO Lone Star Value Co-Invest I, LP

(COLLECTIVELY, THE “NOTES”)

Each of the Notes is subject to the provisions of a certain Subordination Agreement dated February 23, 2016 in favor of Gerber Finance, Inc.

THIS AMENDMENT NO. 1 to each of the Notes, dated as of August 12, 2016 (this “Amendment”), is made by and among ATRM Holdings, Inc. (f/k/a Aetrium Incorporated), a Minnesota corporation (the “Debtor”), and Lone Star Value Co-Invest I, LP, a Delaware limited partnership (the “Holder”).

NOW THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties agree as follows:

1. Section 2(a) of each Note is hereby amended and restated as follows:

2. Except as expressly set forth in this Amendment, each Note shall remain unchanged, in full force and effect, and enforceable against the Debtor in accordance with its terms.

3. All of the terms and provisions of this Amendment shall be applicable to and binding upon the parties hereto and their respective successors and assigns.

[Signature Page Follows]

IN WITNESS WHEREOF, the undersigned parties have caused this Amendment to be duly executed by their respective authorized signatories as of the day and year first herein above written.

	ATRM HOLDINGS, INC.


	By:	/s/ Daniel M. Koch
	Name:	Daniel M. Koch
	Title:	President and Chief Executive Officer

AGREED AND ACCEPTED BY:

Lone Star Value Co-Invest I, LP

By:	Lone Star Value Investors GP, LLC General Partner


By:	/s/ Jeffrey E. Eberwein
Name:	Jeffrey E. Eberwein
Title:	Manager

EX-31.1 4 ex31-1.htm

Exhibit 31.1

Certification of the Principal Executive Officer

Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002

I, Daniel M. Koch, certify that:

1.	I have reviewed this Quarterly Report on Form 10-Q of ATRM Holdings, Inc. for the quarterly period ended September 30, 2016;

2.	Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3.	Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4.	The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c) Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(d) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5.	The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: November 15, 2016

/s/ Daniel M. Koch

Daniel M. Koch

President and Chief Executive Officer

(Principal Executive Officer)

EX-31.2 5 ex31-2.htm

Exhibit 31.2

Certification of the Principal Financial Officer

Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002

I, Stephen A. Clark, certify that:

1.	I have reviewed this Quarterly Report on Form 10-Q of ATRM Holdings, Inc. for the quarterly period ended September 30, 2016;

2.	Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3.	Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4.	The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

5.	The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: November 15, 2016

/s/ Stephen A. Clark

Stephen A. Clark

Chief Financial Officer

(Principal Financial and Accounting Officer)

EX-32.1 6 ex32-1.htm

Exhibit 32.1

CERTIFICATION PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report of ATRM Holdings, Inc. (the “Company”) on Form 10-Q for the quarterly period ended September 30, 2016, as filed with the Securities and Exchange Commission on the date hereof (the “Report”), Daniel M. Koch, as Chief Executive Officer of the Company, and Stephen A. Clark, as Chief Financial Officer of the Company, each hereby certifies, pursuant to 18 U.S.C. Section 1350, as adopted pursuant Section 906 of the Sarbanes-Oxley Act of 2002, that to his knowledge:

(1)	the Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

(2)	the information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

Date: November 15, 2016	/s/ Daniel M. Koch
	Daniel M. Koch President and Chief Executive Officer (Principal Executive Officer)

Date: November 15, 2016	/s/ Stephen A. Clark
	Stephen A. Clark Chief Financial Officer (Principal Financial and Accounting Officer)

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.001

The following table summarizes stock option activity under the 2003 Plan for the nine months ended September 30, 2016:   <table cellspacing="0" cellpadding="0" style="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="text-align: center; line-height: 115%"> </td> <td style="text-align: center; line-height: 115%"> </td> <td style="text-align: center; line-height: 115%"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center; line-height: 115%">Number  of Shares</td> <td style="text-align: center; line-height: 115%"> </td> <td style="text-align: center; line-height: 115%"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center; line-height: 115%">Weighted Average Exercise Price</td> <td style="text-align: center; line-height: 115%"> </td> <td style="text-align: center; line-height: 115%"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center; line-height: 115%">Weighted Average Remaining Contract Term</td> <td style="text-align: center; line-height: 115%"> </td> <td style="text-align: center; line-height: 115%"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center; line-height: 115%">Aggregate Intrinsic Value (in thousands)</td> <td style="text-align: center; line-height: 115%"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="width: 25%; line-height: 115%">Outstanding, January 1, 2016</td> <td style="width: 1%; line-height: 115%"> </td> <td style="width: 1%; line-height: 115%"> </td> <td style="width: 1%; line-height: 115%"> </td> <td style="width: 16%; text-align: right; line-height: 115%">27,500</td> <td style="width: 1%; line-height: 115%"> </td> <td style="width: 1%; line-height: 115%"> </td> <td style="width: 1%; line-height: 115%">$</td> <td style="width: 16%; text-align: right; line-height: 115%">6.88</td> <td style="width: 1%; line-height: 115%"> </td> <td style="width: 1%; line-height: 115%"> </td> <td style="width: 1%; line-height: 115%"> </td> <td style="width: 15%; text-align: right; line-height: 115%"> </td> <td style="width: 1%; line-height: 115%"> </td> <td style="width: 1%; line-height: 115%"> </td> <td style="width: 1%; line-height: 115%"> </td> <td style="width: 15%; text-align: right; line-height: 115%"> </td> <td style="width: 1%; line-height: 115%"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="padding-left: 10pt; line-height: 115%">No activity during the nine months ended September 30, 2016</td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="text-align: right; line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="text-align: right; line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="text-align: right; line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="text-align: right; line-height: 115%"> </td> <td style="line-height: 115%"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="line-height: 115%">Outstanding, September 30, 2016</td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="border-bottom: black 2.25pt double; line-height: 115%"> </td> <td style="border-bottom: black 2.25pt double; text-align: right; line-height: 115%">27,500</td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="border-bottom: black 2.25pt double; line-height: 115%">$</td> <td style="border-bottom: black 2.25pt double; text-align: right; line-height: 115%">6.88</td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="border-bottom: black 2.25pt double; text-align: right; line-height: 115%">0.75 years</td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="border-bottom: black 2.25pt double; line-height: 115%">$</td> <td style="border-bottom: black 2.25pt double; text-align: right; line-height: 115%">0</td> <td style="line-height: 115%"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="text-align: right; line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="text-align: right; line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="text-align: right; line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="text-align: right; line-height: 115%"> </td> <td style="line-height: 115%"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="line-height: 115%">Exercisable, September 30, 2016</td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right; line-height: 115%">27,500</td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; line-height: 115%">$</td> <td style="border-bottom: black 1.5pt solid; text-align: right; line-height: 115%">6.88</td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right; line-height: 115%">0.75 years</td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; line-height: 115%">$</td> <td style="border-bottom: black 1.5pt solid; text-align: right; line-height: 115%">0</td> <td style="line-height: 115%"> </td></tr> </table>

121000

75000

3000000

0.10

0.12

0.0300

0.0275

0.100

1120000

939000

152000

282000

61000

51000

2019-04-01

2020-09-30

2019-04-01

2020-09-30

2018-09-30

2018-02-22

2014-12-01

2017-07-31

2019-04-01

15000 21000

0.10

0.095

0.08

0.10

0.095

0.08

0.066

877000

689000

384000 305000 689000

913000

1065000

203000

50000

0.60 1.25 7800000 -293000 1050000

-293000

1050000

3409000 4102000

0.10

0.20

290000 2023000 1733000 290000 2023000

51000

507000

355000

1420000

3443000 1710000 -355000 -507000 3088000 1203000

562000

499000

133000

172000

402000

359000

39000

47000

57000

78000

37000

10000

-29000

-31000

11357000

10040000

5000000

4773000

1757000

56000

4500000

4261000

958000

48000

44000

2586000 1770000

347000

2933000

1770000

370000

260000

0.471

39000

47000

502000

285000

2206219

2266219

2206219

2266219

100000

11000000 32000000

60000

4.48

4800000

5500000

1000000

4300000

6000000

2500000

2000000

261000

273000

534000

2000000

331000 15000

24000

<table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 24px; font: 11pt/115% Calibri, Helvetica, Sans-Serif">4.</td> <td style="font: 11pt/115% Calibri, Helvetica, Sans-Serif">FAIR VALUE MEASUREMENTS</td></tr> </table>   Financial assets reported at fair value on a recurring basis included the following at September 30, 2016 (in thousands):   <table cellspacing="0" cellpadding="0" style="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center; line-height: 115%">Level 1</td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center; line-height: 115%">Level 2</td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center; line-height: 115%">Level 3</td> <td style="line-height: 115%"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="line-height: 115%">Contingent earn-out receivable related to the transfer of test handler product line:</td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="text-align: right; line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="text-align: right; line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="text-align: right; line-height: 115%"> </td> <td style="line-height: 115%"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="width: 58%; padding-left: 10pt; line-height: 115%">Current portion</td> <td style="width: 1%; line-height: 115%"> </td> <td style="width: 1%; line-height: 115%">$</td> <td style="width: 11%; text-align: right; line-height: 115%"></td> <td style="width: 1%; line-height: 115%"> </td> <td style="width: 1%; line-height: 115%"> </td> <td style="width: 1%; line-height: 115%">$</td> <td style="width: 11%; text-align: right; line-height: 115%"></td> <td style="width: 1%; line-height: 115%"> </td> <td style="width: 1%; line-height: 115%"> </td> <td style="width: 1%; line-height: 115%">$</td> <td style="width: 11%; text-align: right; line-height: 115%">384</td> <td style="width: 1%; line-height: 115%"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="padding-left: 10pt; line-height: 115%">Noncurrent portion</td> <td style="line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right; line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right; line-height: 115%"></td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right; line-height: 115%">305</td> <td style="line-height: 115%"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="padding-left: 20pt; line-height: 115%">Total</td> <td style="line-height: 115%"> </td> <td style="border-bottom: black 2.25pt double; line-height: 115%">$</td> <td style="border-bottom: black 2.25pt double; text-align: right; line-height: 115%"></td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="border-bottom: black 2.25pt double; line-height: 115%">$</td> <td style="border-bottom: black 2.25pt double; text-align: right; line-height: 115%"></td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="border-bottom: black 2.25pt double; line-height: 115%">$</td> <td style="border-bottom: black 2.25pt double; text-align: right; line-height: 115%">689</td> <td style="line-height: 115%"> </td></tr> </table>   Assets reported at fair value on a nonrecurring basis included the following at September 30, 2016 (in thousands):   <table cellspacing="0" cellpadding="0" style="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="text-align: center; line-height: 115%"> </td> <td style="text-align: center; line-height: 115%"> </td> <td style="text-align: center; line-height: 115%"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center; line-height: 115%">Level 1</td> <td style="text-align: center; line-height: 115%"> </td> <td style="text-align: center; line-height: 115%"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center; line-height: 115%">Level 2</td> <td style="text-align: center; line-height: 115%"> </td> <td style="text-align: center; line-height: 115%"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center; line-height: 115%">Level 3</td> <td style="text-align: center; line-height: 115%"> </td> <td style="text-align: center; line-height: 115%"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center; line-height: 115%">Total Losses</td> <td style="text-align: center; line-height: 115%"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="width: 25%; line-height: 115%"> </td> <td style="width: 1%; line-height: 115%"> </td> <td style="width: 1%; line-height: 115%"> </td> <td style="width: 1%; line-height: 115%"> </td> <td style="width: 16%; text-align: right; line-height: 115%"> </td> <td style="width: 1%; line-height: 115%"> </td> <td style="width: 1%; line-height: 115%"> </td> <td style="width: 1%; line-height: 115%"> </td> <td style="width: 16%; text-align: right; line-height: 115%"> </td> <td style="width: 1%; line-height: 115%"> </td> <td style="width: 1%; line-height: 115%"> </td> <td style="width: 1%; line-height: 115%"> </td> <td style="width: 15%; text-align: right; line-height: 115%"> </td> <td style="width: 1%; line-height: 115%"> </td> <td style="width: 1%; line-height: 115%"> </td> <td style="width: 1%; line-height: 115%"> </td> <td style="width: 15%; text-align: right; line-height: 115%"> </td> <td style="width: 1%; line-height: 115%"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="line-height: 115%">Goodwill (1)</td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="border-bottom: black 2.25pt double; line-height: 115%">$</td> <td style="border-bottom: black 2.25pt double; text-align: right; line-height: 115%"></td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="border-bottom: black 2.25pt double; line-height: 115%">$</td> <td style="border-bottom: black 2.25pt double; text-align: right; line-height: 115%"></td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="border-bottom: black 2.25pt double; line-height: 115%">$</td> <td style="border-bottom: black 2.25pt double; text-align: right; line-height: 115%"></td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="border-bottom: black 2.25pt double; line-height: 115%">($</td> <td style="border-bottom: black 2.25pt double; text-align: right; line-height: 115%">1,733</td> <td style="line-height: 115%">)</td></tr> </table>   <table cellspacing="0" cellpadding="0" style="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 48px; text-align: justify; line-height: 115%">(1)</td> <td style="text-align: justify; line-height: 115%">Goodwill with a carrying value of $1.7 million was written down to zero at September 30, 2016. As a result, we recorded an impairment charge of $1.7 million in the three and nine months ended September 30, 2016 as described in Note 7.</td></tr> </table>   The following table summarizes the Level 3 activity for our earn-out receivable related to the transfer of our test handler product line (in thousands):   <table cellspacing="0" cellpadding="0" style="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center; line-height: 115%">Earn-out</td> <td style="line-height: 115%"> </td></tr> <tr style="vertical-align: bottom"> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td colspan="2" style="line-height: 115%"> </td> <td style="line-height: 115%"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="width: 79%; line-height: 115%">Balance at December 31, 2015</td> <td style="width: 1%; line-height: 115%"> </td> <td style="width: 1%; line-height: 115%">$</td> <td style="width: 18%; text-align: right; line-height: 115%">877</td> <td style="width: 1%; line-height: 115%"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="padding-left: 10pt; line-height: 115%">Add - adjustment based on fair value assessments</td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="text-align: right; line-height: 115%">24</td> <td style="line-height: 115%"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="padding-left: 10pt; line-height: 115%">Subtract settlements</td> <td style="line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right; line-height: 115%">(212</td> <td style="line-height: 115%">)</td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="line-height: 115%">Balance at September 30, 2015</td> <td style="line-height: 115%"> </td> <td style="border-bottom: black 2.25pt double; line-height: 115%">$</td> <td style="border-bottom: black 2.25pt double; text-align: right; line-height: 115%">689</td> <td style="line-height: 115%"> </td></tr> </table>   The following table summarizes the Level 3 activity for our goodwill measured on a non-recurring basis (in thousands):   <table cellspacing="0" cellpadding="0" style="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center; line-height: 115%">Earn-out</td> <td style="line-height: 115%"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="text-align: right; line-height: 115%"> </td> <td style="line-height: 115%"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="width: 79%; line-height: 115%">Balance at December 31, 2015</td> <td style="width: 1%; line-height: 115%"> </td> <td style="width: 1%; line-height: 115%">$</td> <td style="width: 18%; text-align: right; line-height: 115%">1,733</td> <td style="width: 1%; line-height: 115%"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="padding-left: 10pt; line-height: 115%">Subtract goodwill impairment recorded at September 30, 2016 (included in earnings)</td> <td style="line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right; line-height: 115%">(1,733</td> <td style="line-height: 115%">)</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="line-height: 115%">Balance at September 30, 2015</td> <td style="line-height: 115%"> </td> <td style="border-bottom: black 2.25pt double; line-height: 115%">$</td> <td style="border-bottom: black 2.25pt double; text-align: right; line-height: 115%"></td> <td style="line-height: 115%"> </td></tr> </table>   Quantitative information about Level 3 fair value measurements on a recurring basis at September 30, 2016 is summarized in the table below:   <table cellspacing="0" cellpadding="0" style="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="border-bottom: black 1.5pt solid; text-align: center; line-height: 115%">Fair Value Asset</td> <td style="text-align: center; line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; text-align: center; line-height: 115%">Valuation Technique</td> <td style="text-align: center; line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; text-align: center; line-height: 115%">Unobservable Input</td> <td style="text-align: center; line-height: 115%"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center; line-height: 115%">Amount</td> <td style="text-align: center; line-height: 115%"> </td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: bottom; line-height: 115%">Earn-out receivable related to transfer of test handler product line</td> <td style="vertical-align: bottom; line-height: 115%"> </td> <td style="vertical-align: top; line-height: 115%">Discounted cash flow</td> <td style="vertical-align: bottom; line-height: 115%"> </td> <td style="vertical-align: top; line-height: 115%">Total projected revenue</td> <td style="vertical-align: bottom; line-height: 115%"> </td> <td style="vertical-align: bottom; line-height: 115%">$</td> <td style="vertical-align: bottom; text-align: right; line-height: 115%">11 million </td> <td style="vertical-align: bottom; line-height: 115%"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="width: 33%; line-height: 115%"> </td> <td style="width: 1%; line-height: 115%"> </td> <td style="width: 21%; line-height: 115%"> </td> <td style="width: 1%; line-height: 115%"> </td> <td style="width: 22%; line-height: 115%">Revenue growth rate</td> <td style="width: 1%; line-height: 115%"> </td> <td style="width: 1%; line-height: 115%"> </td> <td style="width: 19%; text-align: right; line-height: 115%">0</td> <td style="width: 1%; line-height: 115%">%</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%">Performance weighted average</td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="text-align: right; line-height: 115%">60% to 125%</td> <td style="line-height: 115%"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%">Discount rate</td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="text-align: right; line-height: 115%">10</td> <td style="line-height: 115%">%</td></tr> </table>   Quantitative information about Level 3 fair value measurements on a nonrecurring basis at September 30, 2016 is summarized in the table below:   <table cellspacing="0" cellpadding="0" style="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="border-bottom: black 1.5pt solid; text-align: center; line-height: 115%">Fair Value Asset</td> <td style="text-align: center; line-height: 115%"> </td> <td style="text-align: center; line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; text-align: center; line-height: 115%">Valuation Technique</td> <td style="text-align: center; line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; text-align: center; line-height: 115%">Unobservable Input</td> <td style="text-align: center; line-height: 115%"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center; line-height: 115%">Amount</td> <td style="text-align: center; line-height: 115%"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="line-height: 115%">Goodwill</td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%">Discounted cash flow</td> <td style="line-height: 115%"> </td> <td style="line-height: 115%">Projected annual revenue</td> <td style="line-height: 115%"> </td> <td style="line-height: 115%">$</td> <td style="text-align: right; line-height: 115%">32 million</td> <td style="line-height: 115%"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="width: 20%; text-align: right; line-height: 115%"> </td> <td style="width: 1%; line-height: 115%"> </td> <td style="width: 1%; line-height: 115%"> </td> <td style="width: 29%; line-height: 115%"> </td> <td style="width: 1%; line-height: 115%"> </td> <td style="width: 26%; line-height: 115%">Annual revenue growth rate</td> <td style="width: 1%; line-height: 115%"> </td> <td style="width: 1%; line-height: 115%"> </td> <td style="width: 19%; text-align: right; line-height: 115%">0</td> <td style="width: 1%; line-height: 115%">%</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="text-align: right; line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%">Discount rate</td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="text-align: right; line-height: 115%">20</td> <td style="line-height: 115%">%</td></tr> </table>

<table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 24px; font: 11pt/115% Calibri, Helvetica, Sans-Serif">5.</td> <td style="font: 11pt/115% Calibri, Helvetica, Sans-Serif">ACCOUNTS RECEIVABLE, NET</td></tr> </table>   Accounts receivable consists of the following (in thousands):   <table cellspacing="0" cellpadding="0" style="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center; line-height: 115%">September 30, 2016</td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center; line-height: 115%">December 31, 2015</td> <td style="line-height: 115%"> </td></tr> <tr style="vertical-align: bottom"> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td colspan="2" style="text-align: center; line-height: 115%">(Unaudited)</td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td colspan="2" style="text-align: right; line-height: 115%"> </td> <td style="line-height: 115%"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="text-align: right; line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="text-align: right; line-height: 115%"> </td> <td style="line-height: 115%"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="width: 54%; line-height: 115%">Contract billings</td> <td style="width: 1%; line-height: 115%"> </td> <td style="width: 1%; line-height: 115%">$</td> <td style="width: 20%; text-align: right; line-height: 115%">1,770</td> <td style="width: 1%; line-height: 115%"> </td> <td style="width: 1%; line-height: 115%"> </td> <td style="width: 1%; line-height: 115%">$</td> <td style="width: 20%; text-align: right; line-height: 115%">2,586</td> <td style="width: 1%; line-height: 115%"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="line-height: 115%">Retainage</td> <td style="line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right; line-height: 115%"></td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right; line-height: 115%">347</td> <td style="line-height: 115%"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="padding-left: 10pt; line-height: 115%">Subtotal</td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="text-align: right; line-height: 115%">1,770</td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="text-align: right; line-height: 115%">2,933</td> <td style="line-height: 115%"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="line-height: 115%">Less - allowance for doubtful accounts</td> <td style="line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right; line-height: 115%">(260</td> <td style="line-height: 115%">)</td> <td style="line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right; line-height: 115%">(370</td> <td style="line-height: 115%">)</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="padding-left: 10pt; line-height: 115%">Accounts receivable, net</td> <td style="line-height: 115%"> </td> <td style="border-bottom: black 2.25pt double; line-height: 115%">$</td> <td style="border-bottom: black 2.25pt double; text-align: right; line-height: 115%">1,510</td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="border-bottom: black 2.25pt double; line-height: 115%">$</td> <td style="border-bottom: black 2.25pt double; text-align: right; line-height: 115%">2,563</td> <td> </td></tr> </table>

<table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 24px; font: 11pt/115% Calibri, Helvetica, Sans-Serif">7.</td> <td style="font: 11pt/115% Calibri, Helvetica, Sans-Serif">GOODWILL AND INTANGIBLE ASSETS, NET</td></tr> </table>   Intangible assets are comprised of the following (in thousands):   <table cellspacing="0" cellpadding="0" style="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="text-align: center; line-height: 115%"> </td> <td style="text-align: center; line-height: 115%"> </td> <td colspan="10" style="border-bottom: black 1.5pt solid; text-align: center; line-height: 115%">September 30, 2016  (unaudited)</td> <td style="text-align: center; line-height: 115%"> </td> <td style="text-align: center; line-height: 115%"> </td> <td colspan="10" style="border-bottom: black 1.5pt solid; text-align: center; line-height: 115%">December 31, 2015</td> <td style="text-align: center; line-height: 115%"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center; line-height: 115%"> </td> <td style="text-align: center; line-height: 115%"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center; line-height: 115%">Gross Carrying Amount</td> <td style="text-align: center; line-height: 115%"> </td> <td style="text-align: center; line-height: 115%"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center; line-height: 115%">Accumulated Amortization</td> <td style="text-align: center; line-height: 115%"> </td> <td style="text-align: center; line-height: 115%"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center; line-height: 115%">Net Carrying Value</td> <td style="text-align: center; line-height: 115%"> </td> <td style="text-align: center; line-height: 115%"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center; line-height: 115%">Gross Carrying Amount</td> <td style="text-align: center; line-height: 115%"> </td> <td style="text-align: center; line-height: 115%"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center; line-height: 115%">Accumulated Amortization</td> <td style="text-align: center; line-height: 115%"> </td> <td style="text-align: center; line-height: 115%"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center; line-height: 115%">Net Carrying Value</td> <td style="text-align: center; line-height: 115%"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="line-height: 115%">Indefinite-lived intangible assets:</td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="text-align: right; line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="text-align: right; line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="text-align: right; line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="text-align: right; line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="text-align: right; line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="text-align: right; line-height: 115%"> </td> <td style="line-height: 115%"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="width: 46%; padding-left: 10pt; line-height: 115%">Goodwill</td> <td style="width: 1%; line-height: 115%"> </td> <td style="width: 1%; line-height: 115%">$</td> <td style="width: 6%; text-align: right; line-height: 115%"></td> <td style="width: 1%; line-height: 115%"> </td> <td style="width: 1%; line-height: 115%"> </td> <td style="width: 1%; line-height: 115%">$</td> <td style="width: 6%; text-align: right; line-height: 115%"></td> <td style="width: 1%; line-height: 115%"> </td> <td style="width: 1%; line-height: 115%"> </td> <td style="width: 1%; line-height: 115%">$</td> <td style="width: 6%; text-align: right; line-height: 115%"></td> <td style="width: 1%; line-height: 115%"> </td> <td style="width: 1%; line-height: 115%"> </td> <td style="width: 1%; line-height: 115%">$</td> <td style="width: 6%; text-align: right; line-height: 115%">1,733</td> <td style="width: 1%; line-height: 115%"> </td> <td style="width: 1%; line-height: 115%"> </td> <td style="width: 1%; line-height: 115%">$</td> <td style="width: 6%; text-align: right; line-height: 115%"></td> <td style="width: 1%; line-height: 115%"> </td> <td style="width: 1%; line-height: 115%"> </td> <td style="width: 1%; line-height: 115%">$</td> <td style="width: 6%; text-align: right; line-height: 115%">1,733</td> <td style="width: 1%; line-height: 115%"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="padding-left: 10pt; line-height: 115%">Trademarks</td> <td style="line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right; line-height: 115%">290</td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right; line-height: 115%"></td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right; line-height: 115%">290</td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right; line-height: 115%">290</td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right; line-height: 115%"></td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right; line-height: 115%">290</td> <td style="line-height: 115%"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="padding-left: 20pt; line-height: 115%">Total</td> <td style="line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right; line-height: 115%">290</td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right; line-height: 115%"></td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right; line-height: 115%">290</td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right; line-height: 115%">2,023</td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right; line-height: 115%"></td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right; line-height: 115%">2,023</td> <td style="line-height: 115%"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="text-align: right; line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="text-align: right; line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="text-align: right; line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="text-align: right; line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="text-align: right; line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="text-align: right; line-height: 115%"> </td> <td style="line-height: 115%"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="line-height: 115%">Finite-lived intangible assets:</td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="text-align: right; line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="text-align: right; line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="text-align: right; line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="text-align: right; line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="text-align: right; line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="text-align: right; line-height: 115%"> </td> <td style="line-height: 115%"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="padding-left: 10pt; line-height: 115%">Customer relationships</td> <td style="line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right; line-height: 115%">1,420</td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right; line-height: 115%">(507</td> <td style="line-height: 115%">)</td> <td style="line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right; line-height: 115%">913</td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right; line-height: 115%">1,420</td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right; line-height: 115%">(355</td> <td style="line-height: 115%">)</td> <td style="line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right; line-height: 115%">1,065</td> <td style="line-height: 115%"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="padding-left: 10pt; line-height: 115%">Total</td> <td style="line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right; line-height: 115%">1,420</td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right; line-height: 115%">(507</td> <td style="line-height: 115%">)</td> <td style="line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right; line-height: 115%">913</td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right; line-height: 115%">1,420</td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right; line-height: 115%">(355</td> <td style="line-height: 115%">)</td> <td style="line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right; line-height: 115%">1,065</td> <td style="line-height: 115%"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="text-align: right; line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="text-align: right; line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="text-align: right; line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="text-align: right; line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="text-align: right; line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="text-align: right; line-height: 115%"> </td> <td style="line-height: 115%"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="padding-left: 20pt; line-height: 115%">Total intangible assets</td> <td style="line-height: 115%"> </td> <td style="border-bottom: black 2.25pt double; line-height: 115%">$</td> <td style="border-bottom: black 2.25pt double; text-align: right; line-height: 115%">1,710</td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="border-bottom: black 2.25pt double; line-height: 115%">$</td> <td style="border-bottom: black 2.25pt double; text-align: right; line-height: 115%">(507</td> <td style="line-height: 115%">)</td> <td style="line-height: 115%"> </td> <td style="border-bottom: black 2.25pt double; line-height: 115%">$</td> <td style="border-bottom: black 2.25pt double; text-align: right; line-height: 115%">1,203</td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="border-bottom: black 2.25pt double; line-height: 115%">$</td> <td style="border-bottom: black 2.25pt double; text-align: right; line-height: 115%">3,443</td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="border-bottom: black 2.25pt double; line-height: 115%">$</td> <td style="border-bottom: black 2.25pt double; text-align: right; line-height: 115%">(355</td> <td style="line-height: 115%">)</td> <td style="line-height: 115%"> </td> <td style="border-bottom: black 2.25pt double; line-height: 115%">$</td> <td style="border-bottom: black 2.25pt double; text-align: right; line-height: 115%">3,088</td> <td style="line-height: 115%"> </td></tr> </table>   Due to continued losses at KBS, we evaluated the KBS goodwill for impairment at September 30, 2016, and determined it was impaired. Accordingly, we recorded an impairment charge of $1.7 million in the quarter ended September 30, 2016.   Amortization expense amounted to approximately $51,000 and $152,000 for the three and nine months ended September 30, 2016, respectively, and approximately $61,000 and $282,000 for the three and nine months ended September 30, 2015, respectively. Estimated amortization of purchased intangible assets over the next five years is as follows (in thousands):   <table cellspacing="0" cellpadding="0" style="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="width: 78%; line-height: 115%">2016 (three months)</td> <td style="width: 1%; line-height: 115%"> </td> <td style="width: 1%; line-height: 115%"> </td> <td style="width: 1%; line-height: 115%">$</td> <td style="width: 18%; text-align: right; line-height: 115%">51</td> <td style="width: 1%; line-height: 115%"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="line-height: 115%">2017</td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="text-align: right; line-height: 115%">203</td> <td style="line-height: 115%"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="line-height: 115%">2018</td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="text-align: right; line-height: 115%">203</td> <td style="line-height: 115%"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="line-height: 115%">2019</td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="text-align: right; line-height: 115%">203</td> <td style="line-height: 115%"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="line-height: 115%">2020</td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="text-align: right; line-height: 115%">203</td> <td style="line-height: 115%"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="line-height: 115%">Thereafter</td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right; line-height: 115%">50</td> <td style="line-height: 115%"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="line-height: 115%">Total</td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="border-bottom: black 2.25pt double; line-height: 115%">$</td> <td style="border-bottom: black 2.25pt double; text-align: right; line-height: 115%">913</td> <td style="line-height: 115%"> </td></tr> </table>

The following table summarizes the Level 3 activity for our earn-out receivable related to the transfer of our test handler product line (in thousands):   <table cellspacing="0" cellpadding="0" style="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center; line-height: 115%">Earn-out</td> <td style="line-height: 115%"> </td></tr> <tr style="vertical-align: bottom"> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td colspan="2" style="line-height: 115%"> </td> <td style="line-height: 115%"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="width: 79%; line-height: 115%">Balance at December 31, 2015</td> <td style="width: 1%; line-height: 115%"> </td> <td style="width: 1%; line-height: 115%">$</td> <td style="width: 18%; text-align: right; line-height: 115%">877</td> <td style="width: 1%; line-height: 115%"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="padding-left: 10pt; line-height: 115%">Add - adjustment based on fair value assessments</td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="text-align: right; line-height: 115%">24</td> <td style="line-height: 115%"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="padding-left: 10pt; line-height: 115%">Subtract settlements</td> <td style="line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right; line-height: 115%">(212</td> <td style="line-height: 115%">)</td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="line-height: 115%">Balance at September 30, 2015</td> <td style="line-height: 115%"> </td> <td style="border-bottom: black 2.25pt double; line-height: 115%">$</td> <td style="border-bottom: black 2.25pt double; text-align: right; line-height: 115%">689</td> <td style="line-height: 115%"> </td></tr> </table>

Quantitative information about Level 3 fair value measurements on a recurring basis at September 30, 2016 is summarized in the table below:   <table cellspacing="0" cellpadding="0" style="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="border-bottom: black 1.5pt solid; text-align: center; line-height: 115%">Fair Value Asset</td> <td style="text-align: center; line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; text-align: center; line-height: 115%">Valuation Technique</td> <td style="text-align: center; line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; text-align: center; line-height: 115%">Unobservable Input</td> <td style="text-align: center; line-height: 115%"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center; line-height: 115%">Amount</td> <td style="text-align: center; line-height: 115%"> </td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: bottom; line-height: 115%">Earn-out receivable related to transfer of test handler product line</td> <td style="vertical-align: bottom; line-height: 115%"> </td> <td style="vertical-align: top; line-height: 115%">Discounted cash flow</td> <td style="vertical-align: bottom; line-height: 115%"> </td> <td style="vertical-align: top; line-height: 115%">Total projected revenue</td> <td style="vertical-align: bottom; line-height: 115%"> </td> <td style="vertical-align: bottom; line-height: 115%">$</td> <td style="vertical-align: bottom; text-align: right; line-height: 115%">11 million </td> <td style="vertical-align: bottom; line-height: 115%"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="width: 33%; line-height: 115%"> </td> <td style="width: 1%; line-height: 115%"> </td> <td style="width: 21%; line-height: 115%"> </td> <td style="width: 1%; line-height: 115%"> </td> <td style="width: 22%; line-height: 115%">Revenue growth rate</td> <td style="width: 1%; line-height: 115%"> </td> <td style="width: 1%; line-height: 115%"> </td> <td style="width: 19%; text-align: right; line-height: 115%">0</td> <td style="width: 1%; line-height: 115%">%</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%">Performance weighted average</td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="text-align: right; line-height: 115%">60% to 125%</td> <td style="line-height: 115%"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%">Discount rate</td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="text-align: right; line-height: 115%">10</td> <td style="line-height: 115%">%</td></tr> </table>   Quantitative information about Level 3 fair value measurements on a nonrecurring basis at September 30, 2016 is summarized in the table below:   <table cellspacing="0" cellpadding="0" style="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="border-bottom: black 1.5pt solid; text-align: center; line-height: 115%">Fair Value Asset</td> <td style="text-align: center; line-height: 115%"> </td> <td style="text-align: center; line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; text-align: center; line-height: 115%">Valuation Technique</td> <td style="text-align: center; line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; text-align: center; line-height: 115%">Unobservable Input</td> <td style="text-align: center; line-height: 115%"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center; line-height: 115%">Amount</td> <td style="text-align: center; line-height: 115%"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="line-height: 115%">Goodwill</td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%">Discounted cash flow</td> <td style="line-height: 115%"> </td> <td style="line-height: 115%">Projected annual revenue</td> <td style="line-height: 115%"> </td> <td style="line-height: 115%">$</td> <td style="text-align: right; line-height: 115%">32 million</td> <td style="line-height: 115%"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="width: 20%; text-align: right; line-height: 115%"> </td> <td style="width: 1%; line-height: 115%"> </td> <td style="width: 1%; line-height: 115%"> </td> <td style="width: 29%; line-height: 115%"> </td> <td style="width: 1%; line-height: 115%"> </td> <td style="width: 26%; line-height: 115%">Annual revenue growth rate</td> <td style="width: 1%; line-height: 115%"> </td> <td style="width: 1%; line-height: 115%"> </td> <td style="width: 19%; text-align: right; line-height: 115%">0</td> <td style="width: 1%; line-height: 115%">%</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="text-align: right; line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%">Discount rate</td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="text-align: right; line-height: 115%">20</td> <td style="line-height: 115%">%</td></tr> </table>

Accounts receivable consists of the following (in thousands):   <table cellspacing="0" cellpadding="0" style="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center; line-height: 115%">September 30, 2016</td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center; line-height: 115%">December 31, 2015</td> <td style="line-height: 115%"> </td></tr> <tr style="vertical-align: bottom"> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td colspan="2" style="text-align: center; line-height: 115%">(Unaudited)</td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td colspan="2" style="text-align: right; line-height: 115%"> </td> <td style="line-height: 115%"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="text-align: right; line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="text-align: right; line-height: 115%"> </td> <td style="line-height: 115%"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="width: 54%; line-height: 115%">Contract billings</td> <td style="width: 1%; line-height: 115%"> </td> <td style="width: 1%; line-height: 115%">$</td> <td style="width: 20%; text-align: right; line-height: 115%">1,770</td> <td style="width: 1%; line-height: 115%"> </td> <td style="width: 1%; line-height: 115%"> </td> <td style="width: 1%; line-height: 115%">$</td> <td style="width: 20%; text-align: right; line-height: 115%">2,586</td> <td style="width: 1%; line-height: 115%"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="line-height: 115%">Retainage</td> <td style="line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right; line-height: 115%"></td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right; line-height: 115%">347</td> <td style="line-height: 115%"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="padding-left: 10pt; line-height: 115%">Subtotal</td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="text-align: right; line-height: 115%">1,770</td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="text-align: right; line-height: 115%">2,933</td> <td style="line-height: 115%"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="line-height: 115%">Less - allowance for doubtful accounts</td> <td style="line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right; line-height: 115%">(260</td> <td style="line-height: 115%">)</td> <td style="line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right; line-height: 115%">(370</td> <td style="line-height: 115%">)</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="padding-left: 10pt; line-height: 115%">Accounts receivable, net</td> <td style="line-height: 115%"> </td> <td style="border-bottom: black 2.25pt double; line-height: 115%">$</td> <td style="border-bottom: black 2.25pt double; text-align: right; line-height: 115%">1,510</td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="border-bottom: black 2.25pt double; line-height: 115%">$</td> <td style="border-bottom: black 2.25pt double; text-align: right; line-height: 115%">2,563</td> <td> </td></tr> </table>

Inventories are comprised of the following (in thousands):   <table cellspacing="0" cellpadding="0" style="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center; line-height: 115%">September 30, 2016</td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center; line-height: 115%">December 31, 2015</td> <td style="line-height: 115%"> </td></tr> <tr style="vertical-align: bottom"> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td colspan="2" style="text-align: center; line-height: 115%">(Unaudited)</td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td colspan="2" style="text-align: right; line-height: 115%"> </td> <td style="line-height: 115%"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="text-align: right; line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="text-align: right; line-height: 115%"> </td> <td style="line-height: 115%"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="width: 54%; line-height: 115%">Raw materials</td> <td style="width: 1%; line-height: 115%"> </td> <td style="width: 1%; line-height: 115%">$</td> <td style="width: 20%; text-align: right; line-height: 115%">939</td> <td style="width: 1%; line-height: 115%"> </td> <td style="width: 1%; line-height: 115%"> </td> <td style="width: 1%; line-height: 115%">$</td> <td style="width: 20%; text-align: right; line-height: 115%">1,120</td> <td style="width: 1%; line-height: 115%"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="line-height: 115%">Finished goods</td> <td style="line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right; line-height: 115%">75</td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right; line-height: 115%">121</td> <td style="line-height: 115%"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="padding-left: 10pt; line-height: 115%">Total inventories</td> <td style="line-height: 115%"> </td> <td style="border-bottom: black 2.25pt double; line-height: 115%">$</td> <td style="border-bottom: black 2.25pt double; text-align: right; line-height: 115%">1,014</td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="border-bottom: black 2.25pt double; line-height: 115%">$</td> <td style="border-bottom: black 2.25pt double; text-align: right; line-height: 115%">1,241</td> <td style="line-height: 115%"> </td></tr> </table>

Intangible assets are comprised of the following (in thousands):   <table cellspacing="0" cellpadding="0" style="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="text-align: center; line-height: 115%"> </td> <td style="text-align: center; line-height: 115%"> </td> <td colspan="10" style="border-bottom: black 1.5pt solid; text-align: center; line-height: 115%">September 30, 2016  (unaudited)</td> <td style="text-align: center; line-height: 115%"> </td> <td style="text-align: center; line-height: 115%"> </td> <td colspan="10" style="border-bottom: black 1.5pt solid; text-align: center; line-height: 115%">December 31, 2015</td> <td style="text-align: center; line-height: 115%"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center; line-height: 115%"> </td> <td style="text-align: center; line-height: 115%"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center; line-height: 115%">Gross Carrying Amount</td> <td style="text-align: center; line-height: 115%"> </td> <td style="text-align: center; line-height: 115%"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center; line-height: 115%">Accumulated Amortization</td> <td style="text-align: center; line-height: 115%"> </td> <td style="text-align: center; line-height: 115%"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center; line-height: 115%">Net Carrying Value</td> <td style="text-align: center; line-height: 115%"> </td> <td style="text-align: center; line-height: 115%"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center; line-height: 115%">Gross Carrying Amount</td> <td style="text-align: center; line-height: 115%"> </td> <td style="text-align: center; line-height: 115%"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center; line-height: 115%">Accumulated Amortization</td> <td style="text-align: center; line-height: 115%"> </td> <td style="text-align: center; line-height: 115%"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center; line-height: 115%">Net Carrying Value</td> <td style="text-align: center; line-height: 115%"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="line-height: 115%">Indefinite-lived intangible assets:</td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="text-align: right; line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="text-align: right; line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="text-align: right; line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="text-align: right; line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="text-align: right; line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="text-align: right; line-height: 115%"> </td> <td style="line-height: 115%"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="width: 46%; padding-left: 10pt; line-height: 115%">Goodwill</td> <td style="width: 1%; line-height: 115%"> </td> <td style="width: 1%; line-height: 115%">$</td> <td style="width: 6%; text-align: right; line-height: 115%"></td> <td style="width: 1%; line-height: 115%"> </td> <td style="width: 1%; line-height: 115%"> </td> <td style="width: 1%; line-height: 115%">$</td> <td style="width: 6%; text-align: right; line-height: 115%"></td> <td style="width: 1%; line-height: 115%"> </td> <td style="width: 1%; line-height: 115%"> </td> <td style="width: 1%; line-height: 115%">$</td> <td style="width: 6%; text-align: right; line-height: 115%"></td> <td style="width: 1%; line-height: 115%"> </td> <td style="width: 1%; line-height: 115%"> </td> <td style="width: 1%; line-height: 115%">$</td> <td style="width: 6%; text-align: right; line-height: 115%">1,733</td> <td style="width: 1%; line-height: 115%"> </td> <td style="width: 1%; line-height: 115%"> </td> <td style="width: 1%; line-height: 115%">$</td> <td style="width: 6%; text-align: right; line-height: 115%"></td> <td style="width: 1%; line-height: 115%"> </td> <td style="width: 1%; line-height: 115%"> </td> <td style="width: 1%; line-height: 115%">$</td> <td style="width: 6%; text-align: right; line-height: 115%">1,733</td> <td style="width: 1%; line-height: 115%"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="padding-left: 10pt; line-height: 115%">Trademarks</td> <td style="line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right; line-height: 115%">290</td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right; line-height: 115%"></td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right; line-height: 115%">290</td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right; line-height: 115%">290</td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right; line-height: 115%"></td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right; line-height: 115%">290</td> <td style="line-height: 115%"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="padding-left: 20pt; line-height: 115%">Total</td> <td style="line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right; line-height: 115%">290</td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right; line-height: 115%"></td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right; line-height: 115%">290</td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right; line-height: 115%">2,023</td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right; line-height: 115%"></td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right; line-height: 115%">2,023</td> <td style="line-height: 115%"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="text-align: right; line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="text-align: right; line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="text-align: right; line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="text-align: right; line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="text-align: right; line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="text-align: right; line-height: 115%"> </td> <td style="line-height: 115%"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="line-height: 115%">Finite-lived intangible assets:</td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="text-align: right; line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="text-align: right; line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="text-align: right; line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="text-align: right; line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="text-align: right; line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="text-align: right; line-height: 115%"> </td> <td style="line-height: 115%"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="padding-left: 10pt; line-height: 115%">Customer relationships</td> <td style="line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right; line-height: 115%">1,420</td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right; line-height: 115%">(507</td> <td style="line-height: 115%">)</td> <td style="line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right; line-height: 115%">913</td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right; line-height: 115%">1,420</td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right; line-height: 115%">(355</td> <td style="line-height: 115%">)</td> <td style="line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right; line-height: 115%">1,065</td> <td style="line-height: 115%"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="padding-left: 10pt; line-height: 115%">Total</td> <td style="line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right; line-height: 115%">1,420</td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right; line-height: 115%">(507</td> <td style="line-height: 115%">)</td> <td style="line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right; line-height: 115%">913</td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right; line-height: 115%">1,420</td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right; line-height: 115%">(355</td> <td style="line-height: 115%">)</td> <td style="line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right; line-height: 115%">1,065</td> <td style="line-height: 115%"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="text-align: right; line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="text-align: right; line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="text-align: right; line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="text-align: right; line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="text-align: right; line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="text-align: right; line-height: 115%"> </td> <td style="line-height: 115%"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="padding-left: 20pt; line-height: 115%">Total intangible assets</td> <td style="line-height: 115%"> </td> <td style="border-bottom: black 2.25pt double; line-height: 115%">$</td> <td style="border-bottom: black 2.25pt double; text-align: right; line-height: 115%">1,710</td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="border-bottom: black 2.25pt double; line-height: 115%">$</td> <td style="border-bottom: black 2.25pt double; text-align: right; line-height: 115%">(507</td> <td style="line-height: 115%">)</td> <td style="line-height: 115%"> </td> <td style="border-bottom: black 2.25pt double; line-height: 115%">$</td> <td style="border-bottom: black 2.25pt double; text-align: right; line-height: 115%">1,203</td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="border-bottom: black 2.25pt double; line-height: 115%">$</td> <td style="border-bottom: black 2.25pt double; text-align: right; line-height: 115%">3,443</td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="border-bottom: black 2.25pt double; line-height: 115%">$</td> <td style="border-bottom: black 2.25pt double; text-align: right; line-height: 115%">(355</td> <td style="line-height: 115%">)</td> <td style="line-height: 115%"> </td> <td style="border-bottom: black 2.25pt double; line-height: 115%">$</td> <td style="border-bottom: black 2.25pt double; text-align: right; line-height: 115%">3,088</td> <td style="line-height: 115%"> </td></tr> </table>

Estimated amortization of purchased intangible assets over the next five years is as follows (in thousands):   <table cellspacing="0" cellpadding="0" style="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="width: 78%; line-height: 115%">2016 (three months)</td> <td style="width: 1%; line-height: 115%"> </td> <td style="width: 1%; line-height: 115%"> </td> <td style="width: 1%; line-height: 115%">$</td> <td style="width: 18%; text-align: right; line-height: 115%">51</td> <td style="width: 1%; line-height: 115%"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="line-height: 115%">2017</td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="text-align: right; line-height: 115%">203</td> <td style="line-height: 115%"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="line-height: 115%">2018</td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="text-align: right; line-height: 115%">203</td> <td style="line-height: 115%"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="line-height: 115%">2019</td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="text-align: right; line-height: 115%">203</td> <td style="line-height: 115%"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="line-height: 115%">2020</td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="text-align: right; line-height: 115%">203</td> <td style="line-height: 115%"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="line-height: 115%">Thereafter</td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right; line-height: 115%">50</td> <td style="line-height: 115%"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="line-height: 115%">Total</td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="border-bottom: black 2.25pt double; line-height: 115%">$</td> <td style="border-bottom: black 2.25pt double; text-align: right; line-height: 115%">913</td> <td style="line-height: 115%"> </td></tr> </table>

The status of uncompleted construction contracts is as follows (in thousands):   <table cellspacing="0" cellpadding="0" style="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center; line-height: 115%">September 30, 2016</td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center; line-height: 115%">December 31, 2015</td> <td style="line-height: 115%"> </td></tr> <tr style="vertical-align: bottom"> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td colspan="2" style="text-align: center; line-height: 115%">(Unaudited)</td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td colspan="2" style="text-align: right; line-height: 115%"> </td> <td style="line-height: 115%"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="text-align: right; line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="text-align: right; line-height: 115%"> </td> <td style="line-height: 115%"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="width: 54%; line-height: 115%">Costs incurred on uncompleted contracts</td> <td style="width: 1%; line-height: 115%"> </td> <td style="width: 1%; line-height: 115%">$</td> <td style="width: 20%; text-align: right; line-height: 115%">3,152</td> <td style="width: 1%; line-height: 115%"> </td> <td style="width: 1%; line-height: 115%"> </td> <td style="width: 1%; line-height: 115%">$</td> <td style="width: 20%; text-align: right; line-height: 115%">1,155</td> <td style="width: 1%; line-height: 115%"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="line-height: 115%">Inventory purchased for specific contracts</td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="text-align: right; line-height: 115%">1,449</td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="text-align: right; line-height: 115%">1,819</td> <td style="line-height: 115%"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="line-height: 115%">Estimated profit</td> <td style="line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right; line-height: 115%">551</td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right; line-height: 115%">142</td> <td style="line-height: 115%"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="padding-left: 20pt; line-height: 115%">Subtotal</td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="text-align: right; line-height: 115%">5,152</td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="text-align: right; line-height: 115%">3,116</td> <td style="line-height: 115%"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="line-height: 115%">Less billings to date</td> <td style="line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right; line-height: 115%">(4,102</td> <td style="line-height: 115%">)</td> <td style="line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right; line-height: 115%">(3,409</td> <td style="line-height: 115%">)</td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="padding-left: 20pt; line-height: 115%">Total</td> <td style="line-height: 115%"> </td> <td style="border-bottom: black 2.25pt double; line-height: 115%">$</td> <td style="border-bottom: black 2.25pt double; text-align: right; line-height: 115%">1,050</td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="border-bottom: black 2.25pt double; line-height: 115%">$</td> <td style="border-bottom: black 2.25pt double; text-align: right; line-height: 115%">(293</td> <td style="line-height: 115%">)</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="text-align: right; line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="text-align: right; line-height: 115%"> </td> <td style="line-height: 115%"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="line-height: 115%">Included in the following balance sheet captions:</td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="text-align: right; line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="text-align: right; line-height: 115%"> </td> <td style="line-height: 115%"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="padding-left: 10pt; line-height: 115%">Costs and estimated profit in excess of billings</td> <td style="line-height: 115%"> </td> <td style="line-height: 115%">$</td> <td style="text-align: right; line-height: 115%">1,524</td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%">$</td> <td style="text-align: right; line-height: 115%">472</td> <td style="line-height: 115%"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="padding-left: 10pt; line-height: 115%">Billings in excess of costs and estimated profit</td> <td style="line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right; line-height: 115%">(474</td> <td style="line-height: 115%">)</td> <td style="line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right; line-height: 115%">(765</td> <td style="line-height: 115%">)</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="padding-left: 20pt; line-height: 115%">Total</td> <td style="line-height: 115%"> </td> <td style="border-bottom: black 2.25pt double; line-height: 115%">$</td> <td style="border-bottom: black 2.25pt double; text-align: right; line-height: 115%">1,050</td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="border-bottom: black 2.25pt double; line-height: 115%">$</td> <td style="border-bottom: black 2.25pt double; text-align: right; line-height: 115%">(293</td> <td style="line-height: 115%">)</td></tr> </table>

Other accrued liabilities are comprised of the following (in thousands):   <table cellspacing="0" cellpadding="0" style="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center; line-height: 115%">September 30, 2016</td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center; line-height: 115%">December 31, 2015</td> <td style="line-height: 115%"> </td></tr> <tr style="vertical-align: bottom"> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td colspan="2" style="text-align: center; line-height: 115%">(Unaudited)</td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td colspan="2" style="text-align: right; line-height: 115%"> </td> <td style="line-height: 115%"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="text-align: right; line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="text-align: right; line-height: 115%"> </td> <td style="line-height: 115%"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="width: 52%; line-height: 115%">Accrued interest expense</td> <td style="width: 1%; line-height: 115%"> </td> <td style="width: 1%; line-height: 115%">$</td> <td style="width: 20%; text-align: right; line-height: 115%">285</td> <td style="width: 1%; line-height: 115%"> </td> <td style="width: 1%; line-height: 115%"> </td> <td style="width: 1%; line-height: 115%">$</td> <td style="width: 22%; text-align: right; line-height: 115%">502</td> <td style="width: 1%; line-height: 115%"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="line-height: 115%">Accrued severance and related costs</td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="text-align: right; line-height: 115%">15</td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="text-align: right; line-height: 115%">331</td> <td style="line-height: 115%"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="line-height: 115%">Accrued sales taxes</td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="text-align: right; line-height: 115%">499</td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="text-align: right; line-height: 115%">562</td> <td style="line-height: 115%"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="line-height: 115%">Accrued health insurance costs</td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="text-align: right; line-height: 115%">172</td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="text-align: right; line-height: 115%">133</td> <td style="line-height: 115%"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="line-height: 115%">Accrued sales rebates</td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="text-align: right; line-height: 115%">359</td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="text-align: right; line-height: 115%">402</td> <td style="line-height: 115%"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="line-height: 115%">Accrued warranty</td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="text-align: right; line-height: 115%">47</td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="text-align: right; line-height: 115%">39</td> <td style="line-height: 115%"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="line-height: 115%">Other</td> <td style="line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right; line-height: 115%">21</td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right; line-height: 115%">15</td> <td style="line-height: 115%"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="padding-left: 10pt; line-height: 115%">Total other accrued liabilities</td> <td style="line-height: 115%"> </td> <td style="border-bottom: black 2.25pt double; line-height: 115%">$</td> <td style="border-bottom: black 2.25pt double; text-align: right; line-height: 115%">1,398</td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="border-bottom: black 2.25pt double; line-height: 115%">$</td> <td style="border-bottom: black 2.25pt double; text-align: right; line-height: 115%">1,984</td> <td style="line-height: 115%"> </td></tr> </table>

Long-term debt consists of the following (in thousands):   <table cellspacing="0" cellpadding="0" style="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center; line-height: 115%">September 30, 2016</td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center; line-height: 115%">December 31, 2015</td> <td style="line-height: 115%"> </td></tr> <tr style="vertical-align: bottom"> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td colspan="2" style="text-align: center; line-height: 115%">(Unaudited)</td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td colspan="2" style="text-align: right; line-height: 115%"> </td> <td style="line-height: 115%"> </td></tr> <tr style="vertical-align: bottom"> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td colspan="2" style="text-align: right; line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td colspan="2" style="text-align: right; line-height: 115%"> </td> <td style="line-height: 115%"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="width: 62%; line-height: 115%">Promissory note payable to LSVI, issued on April 1, 2014, unsecured, 10% per annum interest payable semi-annually in July and January (12% per annum if PIK Interest option is elected), with any unpaid principal and interest due on April 1, 2019 (1)</td> <td style="width: 1%; line-height: 115%"> </td> <td style="width: 1%; line-height: 115%">$</td> <td style="width: 16%; text-align: right; line-height: 115%">4,261</td> <td style="width: 1%; line-height: 115%"> </td> <td style="width: 1%; line-height: 115%"> </td> <td style="width: 1%; line-height: 115%">$</td> <td style="width: 16%; text-align: right; line-height: 115%">5,000</td> <td style="width: 1%; line-height: 115%"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="text-align: right; line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="text-align: right; line-height: 115%"> </td> <td style="line-height: 115%"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="line-height: 115%">Promissory notes payable to LSV Co-Invest I, unsecured, 10% per annum interest payable semi-annually in July and January (12% per annum if PIK Interest option is elected), with any unpaid principal and interest due on April 1, 2019 (2)</td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="text-align: right; line-height: 115%">4,773</td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="text-align: right; line-height: 115%">4,500</td> <td style="line-height: 115%"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="text-align: right; line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="text-align: right; line-height: 115%"> </td> <td style="line-height: 115%"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="line-height: 115%">Promissory note payable, unsecured, payable in monthly installments of $100,000 through July 2017, interest imputed at 9.5% (3)</td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="text-align: right; line-height: 115%">958</td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="text-align: right; line-height: 115%">1,757</td> <td style="line-height: 115%"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="text-align: right; line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="text-align: right; line-height: 115%"> </td> <td style="line-height: 115%"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="line-height: 115%">Installment payment agreement, 8.0% per annum interest, payable in monthly installments of $1,199 through September 2020 (4)</td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="text-align: right; line-height: 115%">48</td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="text-align: right; line-height: 115%">56</td> <td style="line-height: 115%"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="text-align: right; line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="text-align: right; line-height: 115%"> </td> <td style="line-height: 115%"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="line-height: 115%">Notes payable, secured by equipment, 6.6% per annum interest, with varying maturity dates through September 2018</td> <td style="line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right; line-height: 115%"></td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right; line-height: 115%">44</td> <td style="line-height: 115%"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="text-align: right; line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="text-align: right; line-height: 115%"> </td> <td style="line-height: 115%"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="line-height: 115%">Total long-term debt</td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="text-align: right; line-height: 115%">10,040</td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="text-align: right; line-height: 115%">11,357</td> <td style="line-height: 115%"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="line-height: 115%">Current portion</td> <td style="line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right; line-height: 115%">(969</td> <td style="line-height: 115%">)</td> <td style="line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right; line-height: 115%">(1,105</td> <td style="line-height: 115%">)</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="line-height: 115%">Noncurrent portion</td> <td style="line-height: 115%"> </td> <td style="border-bottom: black 2.25pt double; line-height: 115%">$</td> <td style="border-bottom: black 2.25pt double; text-align: right; line-height: 115%">9,071</td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="border-bottom: black 2.25pt double; line-height: 115%">$</td> <td style="border-bottom: black 2.25pt double; text-align: right; line-height: 115%">10,252</td> <td style="line-height: 115%"> </td></tr> </table>   <table cellspacing="0" cellpadding="0" style="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 24px; line-height: 115%"> </td> <td style="width: 24px; text-align: justify; line-height: 115%">(1)</td> <td style="text-align: justify; line-height: 115%">In April 2014, we issued the promissory note to LSVI in the original principal amount of $6.0 million. The proceeds from the note were used to finance a portion of the purchase price for the acquisition of KBS. ATRM made principal payments on the note of $1.0 million on each of December 30, 2014, and February 25, 2016. On August 31, 2016, ATRM elected to pay PIK Interest for the six-month period ended June 30, 2016, totaling $261,000, which has been added to the principal balance. The note is subordinate to obligations under the KBS Loan Agreement.</td></tr> <tr style="vertical-align: top"> <td style="line-height: 115%"> </td> <td style="text-align: justify; line-height: 115%"> </td> <td style="text-align: justify; line-height: 115%"> </td></tr> <tr style="vertical-align: top"> <td style="line-height: 115%"> </td> <td style="text-align: justify; line-height: 115%">(2)</td> <td style="text-align: justify; line-height: 115%">In 2014, in order to provide additional working capital to ATRM, we issued two promissory notes to LSV Co-Invest I in the amounts of $2.5 million and $2.0 million, respectively. On August 31, 2016, ATRM elected to pay PIK Interest for the six-month period ended June 30, 2016, totaling $273,000, which has been added to the principal balance. The notes are subordinate to obligations under the KBS Loan Agreement.</td></tr> <tr style="vertical-align: top"> <td style="line-height: 115%"> </td> <td style="text-align: justify; line-height: 115%"> </td> <td style="text-align: justify; line-height: 115%"> </td></tr> <tr style="vertical-align: top"> <td style="line-height: 115%"> </td> <td style="text-align: justify; line-height: 115%">(3)</td> <td style="text-align: justify; line-height: 115%">Promissory note payable to the principal seller of KBS. The note does not accrue interest unless it is in default, in which case the annual interest rate would be 10%. The Company has imputed interest at an annual rate of 9.5%.</td></tr> <tr style="vertical-align: top"> <td style="line-height: 115%"> </td> <td style="text-align: justify; line-height: 115%"> </td> <td style="text-align: justify; line-height: 115%"> </td></tr> <tr style="vertical-align: top"> <td style="line-height: 115%"> </td> <td style="text-align: justify; line-height: 115%">(4)</td> <td style="text-align: justify; line-height: 115%">Agreement to finance the purchase of software license rights and consulting services related to the implementation of enterprise management information system.</td></tr> </table>

ATRM Holdings, Inc. 10-Q 2016-09-30 false --12-31 Smaller Reporting Company Q3 Changes in accrued warranty are summarized below (in thousands):   <table cellspacing="0" cellpadding="0" style="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="text-align: center; line-height: 115%"> </td> <td style="text-align: center; line-height: 115%"> </td> <td colspan="6" style="border-bottom: black 1.5pt solid; text-align: center; line-height: 115%">Nine months ended September 30,</td> <td style="text-align: center; line-height: 115%"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center; line-height: 115%"> </td> <td style="text-align: center; line-height: 115%"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center; line-height: 115%">2016</td> <td style="text-align: center; line-height: 115%"> </td> <td style="text-align: center; line-height: 115%"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center; line-height: 115%">2015</td> <td style="text-align: center; line-height: 115%"> </td></tr> <tr style="vertical-align: bottom"> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td colspan="2" style="text-align: right; line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td colspan="2" style="text-align: right; line-height: 115%"> </td> <td style="line-height: 115%"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="width: 58%; line-height: 115%">Accrual balance, beginning of period</td> <td style="width: 1%; line-height: 115%"> </td> <td style="width: 1%; line-height: 115%">$</td> <td style="width: 18%; text-align: right; line-height: 115%">39</td> <td style="width: 1%; line-height: 115%"> </td> <td style="width: 1%; line-height: 115%"> </td> <td style="width: 1%; line-height: 115%">$</td> <td style="width: 18%; text-align: right; line-height: 115%">78</td> <td style="width: 1%; line-height: 115%"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="padding-left: 10pt; line-height: 115%">Accruals for warranties</td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="text-align: right; line-height: 115%">37</td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="text-align: right; line-height: 115%">10</td> <td style="line-height: 115%"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="padding-left: 10pt; line-height: 115%">Settlements made</td> <td style="line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right; line-height: 115%">(29</td> <td style="line-height: 115%">)</td> <td style="line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right; line-height: 115%">(31</td> <td style="line-height: 115%">)</td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="line-height: 115%">Accrual balance, end of period</td> <td style="line-height: 115%"> </td> <td style="border-bottom: black 2.25pt double; line-height: 115%">$</td> <td style="border-bottom: black 2.25pt double; text-align: right; line-height: 115%">47</td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="border-bottom: black 2.25pt double; line-height: 115%">$</td> <td style="border-bottom: black 2.25pt double; text-align: right; line-height: 115%">57</td> <td style="line-height: 115%"> </td></tr> </table> 2396219

-5294000

-1537000

-2402000

-2492000

-4224000

-9403000

-1770000

-4018000

-587000

445000

271000

185000

-291000

421000

1220000

-432000

148000

69000

-227000

-155000

1053000

-804000

-1093000

971000

-25000

4000

115000

86000

66000

624000

85000

1743000

1996000

-539000

-253000

961000

2715000

1850000

1298000

1059000

270000

1050000

109000

9000

51000

47000

212000 1088000

783000

1036000

4000000

3000000

Discounted cash flow

1733000

290000

2023000

1733000

290000

2023000

1819000

1449000

1155000

3152000

15000

27500

6.88

P9M

1199000

100000

1000000

500000 500000 1067885

100000

2563000

1510000

472000

1524000

1241000

1014000

329000 384000

173000

322000

5402000

4839000

4452000

4142000

548000 305000

1355000

1203000

13490000

10489000

2821000

1105000

969000

3491000

4766000

765000

474000

104000

375000

1984000

1398000

7449000

10803000

10252000

9071000

13000

18000

2000

69425000

69540000

-73651000

-78945000

13490000

10489000

17875000

20027000

6426000

6923000

17166000

20414000

6912000

6326000

3171000

3664000

1534000

984000

22070000

24078000

8446000

9043000

-4195000

-4051000

-2020000

-2120000

1116000

1107000

318000

392000

534000

24000 -62000 -62000 22000

-5287000

-1533000

-2400000

-2490000

7000

4000

2000

227000

237000

152000

282000

65000

17112000

14126000

175000

55000

As of September 30, 2016, the net carrying value of the line of credit was as follows:   <table cellspacing="0" cellpadding="0" style="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="width: 79%; line-height: 115%">Line of credit balance</td> <td style="width: 1%; line-height: 115%"> </td> <td style="width: 1%; line-height: 115%">$</td> <td style="width: 18%; text-align: right; line-height: 115%">2,986</td> <td style="width: 1%; line-height: 115%"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="line-height: 115%">Unamortized debt issuance costs</td> <td style="line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right; line-height: 115%">(165</td> <td style="line-height: 115%">)</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="line-height: 115%">Line of credit balance, net</td> <td style="line-height: 115%"> </td> <td style="border-bottom: black 2.25pt double; line-height: 115%">$</td> <td style="border-bottom: black 2.25pt double; text-align: right; line-height: 115%">2,821</td> <td style="line-height: 115%"> </td></tr> </table>

0.00

300000

2600000

230000

2500000

3531000

3000000

1000000

194000

1000000

0.095

5000

11000

0000908598 <table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 24px; font: 11pt/115% Calibri, Helvetica, Sans-Serif">2.</td> <td style="font: 11pt/115% Calibri, Helvetica, Sans-Serif">FINANCIAL POSITION, LIQUIDITY AND CAPITAL RESOURCES</td></tr> </table>   We have incurred significant operating losses and, as of September 30, 2016, we had an accumulated deficit of approximately $79 million. There can be no assurance that we will generate sufficient revenue in the future to cover our expenses and achieve profitability on a consistent basis or at all.   We issued various unsecured promissory notes to finance our acquisition of KBS in 2014 and to provide for our general working capital needs since the acquisition (see Notes 11 and 12). On February 23, 2016, as described in Note 11, we entered into a loan and security agreement with Gerber Finance Inc. (Gerber Finance) that provides KBS with a revolving line of credit with borrowing availability of up to $4.0 million (the KBS Loan Agreement). As of September 30, 2016, we had outstanding debt totaling approximately $12.9 million. This debt included $2.8 million (net of deferred financing costs) owed under a line of credit with Gerber Finance under the KBS Loan Agreement and approximately $1.0 million principal amount outstanding under an unsecured promissory note issued to the primary seller of KBS. Our debt also includes $4.3 million principal amount outstanding under a promissory note issued to Lone Star Value Investors, LP (LSVI) and $4.8 million principal amount outstanding under promissory notes issued to Lone Star Value Co-Invest I, LP (LSV Co-Invest I). Interest on these notes is payable semiannually and any unpaid principal and interest is due on April 1, 2019.    On August 12, 2016, the Company, LSVI and LSV Co-Invest I amended the LSVI and LSV Co-Invest I promissory notes allowing the Company, at its sole option, to elect to make any interest payment in paid in kind interest (PIK Interest) at an annual rate of 12% (versus the 10% interest rate applied to cash payments) for that period. The Company elected the PIK Interest option for the six-month period ended June 30, 2016. Accordingly, interest for the six months ended June 30, 2016, totaling $534,000 (calculated at the PIK Interest rate of 12%), was added to the balance of the LSVI and LSV Co-Invest I promissory notes.   Jeffrey E. Eberwein, our Chairman of the Board, is the manager of Lone Star Value Investors GP, LLC (LSVGP), the general partner of LSVI and LSV Co-Invest I, and sole member of Lone Star Value Management, LLC (LSVM), the investment manager of LSVI.   We intend to pursue new financing at the parent company level to replace all or a portion of the debt owing to LSVI and LSV Co-Invest I and to provide for our general working capital needs. There can be no assurance we will be successful in obtaining such financing on terms favorable to us or at all. Until such time as we obtain additional financing, ATRM may be dependent on LSVI and LSV Co-Invest I, or other third parties, to provide for our general working capital needs. Although not a binding commitment, LSVM has advised us of its present intention to continue to financially support the Company as we pursue new financing.   There can be no assurance that our existing cash reserves, together with funds generated by our operations, borrowings available under the KBS Loan Agreement and any future financings, will be sufficient to satisfy our debt payment obligations. Our inability to generate funds or obtain financing sufficient to satisfy our debt payment obligations may result in such obligations being accelerated by our lenders, which would likely have a material adverse effect on our business, financial condition and results of operations. Given these uncertainties, there can be no assurance that our existing cash reserves will be sufficient to avoid liquidity issues and/or fund operations beyond one year from September 30, 2016.

Financial assets reported at fair value on a recurring basis included the following at September 30, 2016 (in thousands):   <table cellspacing="0" cellpadding="0" style="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center; line-height: 115%">Level 1</td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center; line-height: 115%">Level 2</td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center; line-height: 115%">Level 3</td> <td style="line-height: 115%"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="line-height: 115%">Contingent earn-out receivable related to the transfer of test handler product line:</td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="text-align: right; line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="text-align: right; line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="text-align: right; line-height: 115%"> </td> <td style="line-height: 115%"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="width: 58%; padding-left: 10pt; line-height: 115%">Current portion</td> <td style="width: 1%; line-height: 115%"> </td> <td style="width: 1%; line-height: 115%">$</td> <td style="width: 11%; text-align: right; line-height: 115%"></td> <td style="width: 1%; line-height: 115%"> </td> <td style="width: 1%; line-height: 115%"> </td> <td style="width: 1%; line-height: 115%">$</td> <td style="width: 11%; text-align: right; line-height: 115%"></td> <td style="width: 1%; line-height: 115%"> </td> <td style="width: 1%; line-height: 115%"> </td> <td style="width: 1%; line-height: 115%">$</td> <td style="width: 11%; text-align: right; line-height: 115%">384</td> <td style="width: 1%; line-height: 115%"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="padding-left: 10pt; line-height: 115%">Noncurrent portion</td> <td style="line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right; line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right; line-height: 115%"></td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right; line-height: 115%">305</td> <td style="line-height: 115%"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="padding-left: 20pt; line-height: 115%">Total</td> <td style="line-height: 115%"> </td> <td style="border-bottom: black 2.25pt double; line-height: 115%">$</td> <td style="border-bottom: black 2.25pt double; text-align: right; line-height: 115%"></td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="border-bottom: black 2.25pt double; line-height: 115%">$</td> <td style="border-bottom: black 2.25pt double; text-align: right; line-height: 115%"></td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="border-bottom: black 2.25pt double; line-height: 115%">$</td> <td style="border-bottom: black 2.25pt double; text-align: right; line-height: 115%">689</td> <td style="line-height: 115%"> </td></tr> </table>

12900000

0.0275

7:1 3337000 2800000 3300000

3687000

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48000

3700000

54000 3226000 461000

18000

476477000

518842000 518842000

-2.37

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-1.80

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2232

1235

1331

2266

1733000

1700000

1733000

2954000

-1733000

-212000

Earn-out receivable related to transfer of test handler product line Goodwill

Preliminary fair values of assets and liabilities acquired in the transaction are as follows:   <table cellspacing="0" cellpadding="0" style="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="width: 79%; line-height: 115%">Inventory</td> <td style="width: 1%; line-height: 115%"> </td> <td style="width: 1%; line-height: 115%">$</td> <td style="width: 18%; text-align: right; line-height: 115%">894</td> <td style="width: 1%; line-height: 115%"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="line-height: 115%">Equipment</td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="text-align: right; line-height: 115%">289</td> <td style="line-height: 115%"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="line-height: 115%">Prepaid and other assets</td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="text-align: right; line-height: 115%">12</td> <td style="line-height: 115%"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="line-height: 115%">Assumed Liabilities (PTO)</td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="text-align: right; line-height: 115%">(40</td> <td style="line-height: 115%">)</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="line-height: 115%">Intangibles (backlog, customer list, trademarks, goodwill)</td> <td style="line-height: 115%"> </td> <td style="border-bottom: black 2.25pt double; line-height: 115%"> </td> <td style="border-bottom: black 2.25pt double; text-align: right; line-height: 115%">4,044</td> <td style="line-height: 115%"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="padding-left: 10pt; line-height: 115%">Total net assets acquired</td> <td style="line-height: 115%"> </td> <td style="border-bottom: black 2.25pt double; line-height: 115%">$</td> <td style="border-bottom: black 2.25pt double; text-align: right; line-height: 115%">5,199</td> <td style="line-height: 115%"> </td></tr> </table>

1700000

1700000 0 89000 0.12 0.12 0.12 0.12

3000000

100000

1000000

4000000

3000000

2018-10-03 2018-12-31

2000000

0.12

0.50

2016

534000

Assets reported at fair value on a nonrecurring basis included the following at September 30, 2016 (in thousands):   <table cellspacing="0" cellpadding="0" style="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="text-align: center; line-height: 115%"> </td> <td style="text-align: center; line-height: 115%"> </td> <td style="text-align: center; line-height: 115%"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center; line-height: 115%">Level 1</td> <td style="text-align: center; line-height: 115%"> </td> <td style="text-align: center; line-height: 115%"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center; line-height: 115%">Level 2</td> <td style="text-align: center; line-height: 115%"> </td> <td style="text-align: center; line-height: 115%"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center; line-height: 115%">Level 3</td> <td style="text-align: center; line-height: 115%"> </td> <td style="text-align: center; line-height: 115%"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center; line-height: 115%">Total Losses</td> <td style="text-align: center; line-height: 115%"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="width: 25%; line-height: 115%"> </td> <td style="width: 1%; line-height: 115%"> </td> <td style="width: 1%; line-height: 115%"> </td> <td style="width: 1%; line-height: 115%"> </td> <td style="width: 16%; text-align: right; line-height: 115%"> </td> <td style="width: 1%; line-height: 115%"> </td> <td style="width: 1%; line-height: 115%"> </td> <td style="width: 1%; line-height: 115%"> </td> <td style="width: 16%; text-align: right; line-height: 115%"> </td> <td style="width: 1%; line-height: 115%"> </td> <td style="width: 1%; line-height: 115%"> </td> <td style="width: 1%; line-height: 115%"> </td> <td style="width: 15%; text-align: right; line-height: 115%"> </td> <td style="width: 1%; line-height: 115%"> </td> <td style="width: 1%; line-height: 115%"> </td> <td style="width: 1%; line-height: 115%"> </td> <td style="width: 15%; text-align: right; line-height: 115%"> </td> <td style="width: 1%; line-height: 115%"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="line-height: 115%">Goodwill (1)</td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="border-bottom: black 2.25pt double; line-height: 115%">$</td> <td style="border-bottom: black 2.25pt double; text-align: right; line-height: 115%"></td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="border-bottom: black 2.25pt double; line-height: 115%">$</td> <td style="border-bottom: black 2.25pt double; text-align: right; line-height: 115%"></td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="border-bottom: black 2.25pt double; line-height: 115%">$</td> <td style="border-bottom: black 2.25pt double; text-align: right; line-height: 115%"></td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="border-bottom: black 2.25pt double; line-height: 115%">($</td> <td style="border-bottom: black 2.25pt double; text-align: right; line-height: 115%">1,733</td> <td style="line-height: 115%">)</td></tr> </table>   <table cellspacing="0" cellpadding="0" style="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 48px; text-align: justify; line-height: 115%">(1)</td> <td style="text-align: justify; line-height: 115%">Goodwill with a carrying value of $1.7 million was written down to zero at September 30, 2016. As a result, we recorded an impairment charge of $1.7 million in the three and nine months ended September 30, 2016 as described in Note 7.</td></tr> </table>

The following table summarizes the Level 3 activity for our goodwill measured on a non-recurring basis (in thousands):   <table cellspacing="0" cellpadding="0" style="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center; line-height: 115%">Earn-out</td> <td style="line-height: 115%"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="text-align: right; line-height: 115%"> </td> <td style="line-height: 115%"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="width: 79%; line-height: 115%">Balance at December 31, 2015</td> <td style="width: 1%; line-height: 115%"> </td> <td style="width: 1%; line-height: 115%">$</td> <td style="width: 18%; text-align: right; line-height: 115%">1,733</td> <td style="width: 1%; line-height: 115%"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="padding-left: 10pt; line-height: 115%">Subtract goodwill impairment recorded at September 30, 2016 (included in earnings)</td> <td style="line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right; line-height: 115%">(1,733</td> <td style="line-height: 115%">)</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="line-height: 115%">Balance at September 30, 2015</td> <td style="line-height: 115%"> </td> <td style="border-bottom: black 2.25pt double; line-height: 115%">$</td> <td style="border-bottom: black 2.25pt double; text-align: right; line-height: 115%"></td> <td style="line-height: 115%"> </td></tr> </table>

PIK Interest or 50% cash and 50% PIK Interest

Estimated total purchase price is as follows:   <table cellspacing="0" cellpadding="0" style="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="width: 79%; line-height: 115%">Cash paid at closing</td> <td style="width: 1%; line-height: 115%"> </td> <td style="width: 1%; line-height: 115%">$</td> <td style="width: 18%; text-align: right; line-height: 115%">2,960</td> <td style="width: 1%; line-height: 115%"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="line-height: 115%">NPV of deferred payment</td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="text-align: right; line-height: 115%">941</td> <td style="line-height: 115%"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="line-height: 115%">Fair Value of contingent earnout</td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="text-align: right; line-height: 115%">943</td> <td style="line-height: 115%"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="line-height: 115%">Fair value of ATRM common stock issued</td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="text-align: right; line-height: 115%">149</td> <td style="line-height: 115%"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="line-height: 115%">Estimated true-up payment</td> <td style="line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right; line-height: 115%">206</td> <td style="line-height: 115%"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="padding-left: 10pt; line-height: 115%">Total purchase price</td> <td style="line-height: 115%"> </td> <td style="border-bottom: black 2.25pt double; line-height: 115%">$</td> <td style="border-bottom: black 2.25pt double; text-align: right; line-height: 115%">5,199</td> <td style="line-height: 115%"> </td></tr> </table>

2960000

941000

943000

149000

206000

5199000

894000

289000

12000

40000

4044000

5199000

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Narrative) link:presentationLink link:calculationLink link:definitionLink 00000059 - Disclosure - Subsequent Event (Details Narrative) link:presentationLink link:calculationLink link:definitionLink 00000060 - Disclosure - Subsequent Events - Schedule of Estimated Total Purchase Price (Details) link:presentationLink link:calculationLink link:definitionLink 00000061 - Disclosure - Subsequent Events - Schedule of Preliminary Fair Values of Assets and Liabilities (Details) link:presentationLink link:calculationLink link:definitionLink EX-101.CAL 9 atrm-20160930_cal.xml XBRL CALCULATION FILE EX-101.DEF 10 atrm-20160930_def.xml XBRL DEFINITION FILE EX-101.LAB 11 atrm-20160930_lab.xml XBRL LABEL FILE Level 3 [Member] Fair Value, Hierarchy [Axis] Lone Star Value Co-Invest I, LP [Member] Related Party [Axis] Promissory Notes [Member] Long-term Debt, Type [Axis] KBS Builders [Member] Business Acquisition [Axis] Promissory note payable to LSVI, issued on April 1, 2014, unsecured, 10% per annum interest payable semi-annually in July and January (12% per annum if PIK Interest option is elected), with any unpaid principal and interest due on April 1, 2019 [Member] Promissory notes payable to LSV Co-Invest I, unsecured, 10% per annum interest payable semi-annually in July and January (12% per annum if PIK Interest option is elected), with any unpaid principal and interest due on April 1, 2019 [Member] Promissory note payable, unsecured, payable in monthly installments of $100,000 through July 2017, interest imputed at 9.5% [Member] Installment payment agreement, 8.0% per annum interest, payable in monthly installments of $1,199 through September 2020 [Member] LSVI [Member] Fair Value, Measurements, Recurring [Member] Measurement Frequency [Axis] Goodwill [Member] Indefinite-lived Intangible Assets [Axis] Indefinite Lived Intangible Assets [Member] Asset Class [Axis] Trademarks [Member] Finite-Lived Intangible Assets by Major Class [Axis] Customer Relationships [Member] Finite Lived Intangible Assets [Member] Notes payable, secured by equipment, 6.6% per annum interest, with varying maturity dates through September 2018 [Member] Directors And Chief Financial Officer [Member] Unsecured Promissory Note [Member] Lone Star Value Investors, LP [Member] Loan And Security Agreement [Member] Type of Arrangement and Non-arrangement Transactions [Axis] Gerber Finance Inc [Member] Earn-Out Receivable [Member] Concentration Risk Benchmark [Axis] Subcontractors [Member] Accounts Payable [Axis] KBS Loan Agreement [Member] 2014 Incentive Plan [Member] Plan Name [Axis] Level 2 [Member] Level 1 [Member] Fair Value Measurements Nonrecurring [Member] KBS Operations [Member] Prime Rate [Member] Variable Rate [Axis] December 31, 2016 [Member] Report Date [Axis] Promissory Notes Two [Member] Payment In-Kind [Member] Avila Plumbing and Heating Contractor, Inc [Member] Loss Contingency Nature [Axis] Payment In-Kind One [Member] Promissory Notes Two [Member] Debt Instrument [Axis] Subsequent Event [Member] Subsequent Event Type [Axis] Financing From Gerber Finance Inc [Member] Legal Entity [Axis] Acquisition Loan Agreement [Member] Financing From Lone Star Value Co-Invest I LP [Member] PIK [Member] Cash Paid At Closing [Member] Contingent Consideration by Type [Axis] NPV of Deferred Payment [Member] Fair Value Of Contingent Earnout [Member] Fair value of ATRM Common Stock Issued [Member] Estimated True-up Payment [Member] Document And Entity Information Entity Registrant Name Entity Central Index Key Document Type Document Period End Date Amendment Flag Current Fiscal Year End Date Entity Filer Category Entity Common Stock, Shares Outstanding Document Fiscal Period Focus Document Fiscal Year Focus Statement of Financial Position [Abstract] ASSETS Current assets: Cash and cash equivalents Accounts receivable, net Costs and estimated profit in excess of billings Inventories Fair value of contingent earn-out, current Other current assets Total current assets Property, plant and equipment, net Fair value of contingent earn-out, noncurrent Goodwill Intangible assets, net Total assets LIABILITIES AND SHAREHOLDERS' DEFICIT Current liabilities: Note payable – revolving line of credit Current portion of long-term debt Trade accounts payable Billings in excess of costs and estimated profit Accrued compensation Other accrued liabilities Total current liabilities Long-term debt, less current portion Deferred income taxes Commitments and contingencies Shareholders' deficit: Common stock, $.001 par value; 3,000,000 shares authorized; 2,266,219 and 2,206,219 shares issued and outstanding at September 30, 2016 and December 31, 2015, respectively Additional paid-in capital Accumulated deficit Total shareholders' deficit Total liabilities and shareholders' deficit Common stock, par value Common stock, shares authorized Common stock, shares issued Common stock, shares outstanding Income Statement [Abstract] Net sales Costs and expenses: Cost of sales Selling, general and administrative expenses Goodwill impairment charge Total costs and expenses Operating loss Other expense: Interest expense Change in fair value of contingent earn-out Settlement gain Loss from operations before income taxes Income tax expense Net loss Loss per share, basic and diluted Weighted average common shares outstanding, basic and diluted Statement of Cash Flows [Abstract] Cash flows from operating activities: Net loss Adjustments to reconcile net loss to net cash used in operating activities: Depreciation Amortization expense, intangible assets Amortization expense, deferred financing costs Share-based compensation expense Provision (credit) for bad debts Settlement gain Facility expense accrual credit Loss (gain) on sale of equipment Deferred income taxes Change in fair value of contingent earn-out Paid-in-kind (PIK) interest Changes in operating assets and liabilities: Accounts receivable Costs and estimated profit in excess of billings Inventories Other current assets Trade accounts payable Billings in excess of costs and estimated profit Accrued compensation Other accrued liabilities Net cash used in operating activities Cash flows from investing activities: Proceeds from earn-out consideration Purchase of property and equipment Sale of equipment Net cash generated by investing activities Cash flows from financing activities: Proceeds from issuance of common stock, net of offering expenses Proceeds from issuance of long-term debt Proceeds from revolving line of credit Principal payments on revolving line of credit Payment of deferred financing costs Principal payments on long-term debt Net cash generated by financing activities Net decrease in cash and cash equivalents Cash and cash equivalents at beginning of period Cash and cash equivalents at end of period Supplemental cash flow information: Cash paid for interest expense Settlement Agreement: - reduction of note payable to seller Settlement Agreement: - forgiveness of accrued interest Deferred financing costs recorded in accounts payable Accounting Policies [Abstract] Basis of Presentation Organization, Consolidation and Presentation of Financial Statements [Abstract] Financial Position, Liquidity and Capital Resources Recently Adopted Accounting Pronouncement Fair Value Disclosures [Abstract] Fair Value Measurements Receivables [Abstract] Accounts Receivable, Net Inventory Disclosure [Abstract] Inventories Goodwill and Intangible Assets Disclosure [Abstract] Goodwill and Intangible Assets, Net Contractors [Abstract] Uncompleted Construction Contracts Accounts Payable Retainage Accounts Payable Retainage EX-101.PRE 12 atrm-20160930_pre.xml XBRL PRESENTATION FILE XML 13 R1.htm IDEA: XBRL DOCUMENT

Document and Entity Information - shares	9 Months Ended
Document and Entity Information - shares	Sep. 30, 2016	Nov. 11, 2016
Document And Entity Information
Entity Registrant Name	ATRM Holdings, Inc.
Entity Central Index Key	0000908598
Document Type	10-Q
Document Period End Date	Sep. 30, 2016
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		2,396,219
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2016

XML 14 R2.htm IDEA: XBRL DOCUMENT

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Current assets:
Cash and cash equivalents	$ 85	$ 624
Accounts receivable, net	1,510	2,563
Costs and estimated profit in excess of billings	1,524	472
Inventories	1,014	1,241
Fair value of contingent earn-out, current	384	329
Other current assets	322	173
Total current assets	4,839	5,402
Property, plant and equipment, net	4,142	4,452
Fair value of contingent earn-out, noncurrent	305	548
Goodwill		1,733
Intangible assets, net	1,203	1,355
Total assets	10,489	13,490
Current liabilities:
Note payable – revolving line of credit	2,821
Current portion of long-term debt	969	1,105
Trade accounts payable	4,766	3,491
Billings in excess of costs and estimated profit	474	765
Accrued compensation	375	104
Other accrued liabilities	1,398	1,984
Total current liabilities	10,803	7,449
Long-term debt, less current portion	9,071	10,252
Deferred income taxes	18	13
Commitments and contingencies
Shareholders' deficit:
Common stock, $.001 par value; 3,000,000 shares authorized; 2,266,219 and 2,206,219 shares issued and outstanding at September 30, 2016 and December 31, 2015, respectively	2	2
Additional paid-in capital	69,540	69,425
Accumulated deficit	(78,945)	(73,651)
Total shareholders' deficit	(9,403)	(4,224)
Total liabilities and shareholders' deficit	$ 10,489	$ 13,490

XML 15 R3.htm IDEA: XBRL DOCUMENT

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2016	Dec. 31, 2015
Statement of Financial Position [Abstract]
Common stock, par value	$ .001	$ .001
Common stock, shares authorized	3,000,000	3,000,000
Common stock, shares issued	2,266,219	2,206,219
Common stock, shares outstanding	2,266,219	2,206,219

XML 16 R4.htm IDEA: XBRL DOCUMENT

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Income Statement [Abstract]
Net sales	$ 6,923	$ 6,426	$ 17,875	$ 20,027
Costs and expenses:
Cost of sales	6,326	6,912	17,166	20,414
Selling, general and administrative expenses	984	1,534	3,171	3,664
Goodwill impairment charge	1,733		1,733
Total costs and expenses	9,043	8,446	22,070	24,078
Operating loss	(2,120)	(2,020)	(4,195)	(4,051)
Other expense:
Interest expense	(392)	(318)	(1,116)	(1,107)
Change in fair value of contingent earn-out	22	(62)	24	(62)
Settlement gain				3,687
Loss from operations before income taxes	(2,490)	(2,400)	(5,287)	(1,533)
Income tax expense	(2)	(2)	(7)	(4)
Net loss	$ (2,492)	$ (2,402)	$ (5,294)	$ (1,537)
Loss per share, basic and diluted	$ (1.10)	$ (1.80)	$ (2.37)	$ (1.24)
Weighted average common shares outstanding, basic and diluted	2,266	1,331	2,232	1,235

XML 17 R5.htm IDEA: XBRL DOCUMENT

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Cash flows from operating activities:
Net loss	$ (5,294)	$ (1,537)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation	227	237
Amortization expense, intangible assets	152	282
Amortization expense, deferred financing costs	65
Share-based compensation expense	115	86
Provision (credit) for bad debts	(40)	48
Settlement gain		(3,687)
Facility expense accrual credit		(54)
Loss (gain) on sale of equipment	25	(4)
Deferred income taxes	5	11
Change in fair value of contingent earn-out	(24)	62
Goodwill impairment charge	1,733
Paid-in-kind (PIK) interest	534
Changes in operating assets and liabilities:
Accounts receivable	1,093	(971)
Costs and estimated profit in excess of billings	(1,053)	804
Inventories	227	155
Other current assets	(148)	(69)
Trade accounts payable	1,220	(432)
Billings in excess of costs and estimated profit	(291)	421
Accrued compensation	271	185
Other accrued liabilities	(587)	445
Net cash used in operating activities	(1,770)	(4,018)
Cash flows from investing activities:
Proceeds from earn-out consideration	212	1,088
Purchase of property and equipment	(51)	(47)
Sale of equipment	109	9
Net cash generated by investing activities	270	1,050
Cash flows from financing activities:
Proceeds from issuance of common stock, net of offering expenses		2,954
Proceeds from issuance of long-term debt		1,059
Proceeds from revolving line of credit	17,112
Principal payments on revolving line of credit	(14,126)
Payment of deferred financing costs	(175)
Principal payments on long-term debt	(1,850)	(1,298)
Net cash generated by financing activities	961	2,715
Net decrease in cash and cash equivalents	(539)	(253)
Cash and cash equivalents at beginning of period	624	1,996
Cash and cash equivalents at end of period	85	1,743
Supplemental cash flow information:
Cash paid for interest expense	783	1,036
Settlement Agreement: - reduction of note payable to seller		3,226
Settlement Agreement: - forgiveness of accrued interest		461
Deferred financing costs recorded in accounts payable	$ 55

XML 18 R6.htm IDEA: XBRL DOCUMENT

Basis of Presentation

9 Months Ended

Sep. 30, 2016

Accounting Policies [Abstract]

Basis of Presentation

1.	BASIS OF PRESENTATION

XML 19 R7.htm IDEA: XBRL DOCUMENT

Financial Position, Liquidity and Capital Resources

9 Months Ended

Sep. 30, 2016

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Financial Position, Liquidity and Capital Resources

2.	FINANCIAL POSITION, LIQUIDITY AND CAPITAL RESOURCES

XML 20 R8.htm IDEA: XBRL DOCUMENT

Recently Adopted Accounting Pronouncement

9 Months Ended

Sep. 30, 2016

Accounting Policies [Abstract]

Recently Adopted Accounting Pronouncement

3.	RECENTLY ADOPTED ACCOUNTING PRONOUNCEMENT

XML 21 R9.htm IDEA: XBRL DOCUMENT

Fair Value Measurements

9 Months Ended

Sep. 30, 2016

Fair Value Disclosures [Abstract]

Fair Value Measurements

4.	FAIR VALUE MEASUREMENTS

Financial assets reported at fair value on a recurring basis included the following at September 30, 2016 (in thousands):

	Level 1		Level 2		Level 3
Contingent earn-out receivable related to the transfer of test handler product line:
Current portion	$	—	$	—	$	384
Noncurrent portion				—		305
Total	$	—	$	—	$	689

Assets reported at fair value on a nonrecurring basis included the following at September 30, 2016 (in thousands):

	Level 1		Level 2		Level 3		Total Losses

Goodwill (1)	$	—	$	—	$	—	($	1,733	)

(1)	Goodwill with a carrying value of $1.7 million was written down to zero at September 30, 2016. As a result, we recorded an impairment charge of $1.7 million in the three and nine months ended September 30, 2016 as described in Note 7.

The following table summarizes the Level 3 activity for our earn-out receivable related to the transfer of our test handler product line (in thousands):

	Earn-out

Balance at December 31, 2015	$	877
Add - adjustment based on fair value assessments		24
Subtract – settlements		(212	)
Balance at September 30, 2015	$	689

The following table summarizes the Level 3 activity for our goodwill measured on a non-recurring basis (in thousands):

	Earn-out

Balance at December 31, 2015	$	1,733
Subtract – goodwill impairment recorded at September 30, 2016 (included in earnings)		(1,733	)
Balance at September 30, 2015	$	—

Quantitative information about Level 3 fair value measurements on a recurring basis at September 30, 2016 is summarized in the table below:

Fair Value Asset	Valuation Technique	Unobservable Input	Amount
Earn-out receivable related to transfer of test handler product line	Discounted cash flow	Total projected revenue	$	11 million
		Revenue growth rate		0	%
		Performance weighted average		60% to 125%
		Discount rate		10	%

Quantitative information about Level 3 fair value measurements on a nonrecurring basis at September 30, 2016 is summarized in the table below:

Fair Value Asset	Valuation Technique	Unobservable Input	Amount
Goodwill	Discounted cash flow	Projected annual revenue	$	32 million
		Annual revenue growth rate		0	%
		Discount rate		20	%

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

XML 22 R10.htm IDEA: XBRL DOCUMENT

Accounts Receivable, Net

9 Months Ended

Sep. 30, 2016

Receivables [Abstract]

Accounts Receivable, Net

5.	ACCOUNTS RECEIVABLE, NET

Accounts receivable consists of the following (in thousands):

	September 30, 2016			December 31, 2015
	(Unaudited)

Contract billings	$	1,770		$	2,586
Retainage		—			347
Subtotal		1,770			2,933
Less - allowance for doubtful accounts		(260	)		(370	)
Accounts receivable, net	$	1,510		$	2,563

XML 23 R11.htm IDEA: XBRL DOCUMENT

Inventories

9 Months Ended

Sep. 30, 2016

Inventory Disclosure [Abstract]

Inventories

6.	INVENTORIES

Inventories are comprised of the following (in thousands):

	September 30, 2016		December 31, 2015
	(Unaudited)

Raw materials	$	939	$	1,120
Finished goods		75		121
Total inventories	$	1,014	$	1,241

XML 24 R12.htm IDEA: XBRL DOCUMENT

Goodwill and Intangible Assets, Net

9 Months Ended

Sep. 30, 2016

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets, Net

7.	GOODWILL AND INTANGIBLE ASSETS, NET

Intangible assets are comprised of the following (in thousands):

	September 30, 2016 (unaudited)							December 31, 2015
	Gross Carrying Amount		Accumulated Amortization			Net Carrying Value		Gross Carrying Amount		Accumulated Amortization			Net Carrying Value
Indefinite-lived intangible assets:
Goodwill	$	—	$	—		$	—	$	1,733	$	—		$	1,733
Trademarks		290		—			290		290		—			290
Total		290		—			290		2,023		—			2,023

Finite-lived intangible assets:
Customer relationships		1,420		(507	)		913		1,420		(355	)		1,065
Total		1,420		(507	)		913		1,420		(355	)		1,065

Total intangible assets	$	1,710	$	(507	)	$	1,203	$	3,443	$	(355	)	$	3,088

2016 (three months)	$	51
2017		203
2018		203
2019		203
2020		203
Thereafter		50
Total	$	913

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

+ References + Details

XML 25 R13.htm IDEA: XBRL DOCUMENT

Uncompleted Construction Contracts

9 Months Ended

Sep. 30, 2016

Contractors [Abstract]

Uncompleted Construction Contracts

8.	UNCOMPLETED CONSTRUCTION CONTRACTS

The status of uncompleted construction contracts is as follows (in thousands):

	September 30, 2016			December 31, 2015
	(Unaudited)

Costs incurred on uncompleted contracts	$	3,152		$	1,155
Inventory purchased for specific contracts		1,449			1,819
Estimated profit		551			142
Subtotal		5,152			3,116
Less billings to date		(4,102	)		(3,409	)
Total	$	1,050		$	(293	)

Included in the following balance sheet captions:
Costs and estimated profit in excess of billings	$	1,524		$	472
Billings in excess of costs and estimated profit		(474	)		(765	)
Total	$	1,050		$	(293	)

The Company had approximately $7.8 million of work under contract remaining to be recognized at September 30, 2016.

XML 26 R14.htm IDEA: XBRL DOCUMENT

Accounts Payable Retainage

9 Months Ended

Sep. 30, 2016

Accounts Payable Retainage

Accounts Payable Retainage

9.	ACCOUNTS PAYABLE RETAINAGE

XML 27 R15.htm IDEA: XBRL DOCUMENT

Other Accrued Liabilities

9 Months Ended

Sep. 30, 2016

Payables and Accruals [Abstract]

Other Accrued Liabilities

10.

OTHER ACCRUED LIABILITIES

Other accrued liabilities are comprised of the following (in thousands):

	September 30, 2016		December 31, 2015
	(Unaudited)

Accrued interest expense	$	285	$	502
Accrued severance and related costs		15		331
Accrued sales taxes		499		562
Accrued health insurance costs		172		133
Accrued sales rebates		359		402
Accrued warranty		47		39
Other		21		15
Total other accrued liabilities	$	1,398	$	1,984

Changes in accrued warranty are summarized below (in thousands):

	Nine months ended September 30,
	2016			2015

Accrual balance, beginning of period	$	39		$	78
Accruals for warranties		37			10
Settlements made		(29	)		(31	)
Accrual balance, end of period	$	47		$	57

XML 28 R16.htm IDEA: XBRL DOCUMENT

Notes Payable

9 Months Ended

Sep. 30, 2016

Debt Disclosure [Abstract]

Notes Payable

11.

NOTES PAYABLE

Line of credit balance	$	2,986
Unamortized debt issuance costs		(165	)
Line of credit balance, net	$	2,821

XML 29 R17.htm IDEA: XBRL DOCUMENT

Long-Term Debt

9 Months Ended

Sep. 30, 2016

Debt Disclosure [Abstract]

Long-Term Debt

12.

LONG-TERM DEBT

Long-term debt consists of the following (in thousands):

	September 30, 2016			December 31, 2015
	(Unaudited)

Promissory note payable to LSVI, issued on April 1, 2014, unsecured, 10% per annum interest payable semi-annually in July and January (12% per annum if PIK Interest option is elected), with any unpaid principal and interest due on April 1, 2019 (1)	$	4,261		$	5,000

Promissory notes payable to LSV Co-Invest I, unsecured, 10% per annum interest payable semi-annually in July and January (12% per annum if PIK Interest option is elected), with any unpaid principal and interest due on April 1, 2019 (2)		4,773			4,500

Promissory note payable, unsecured, payable in monthly installments of $100,000 through July 2017, interest imputed at 9.5% (3)		958			1,757

Installment payment agreement, 8.0% per annum interest, payable in monthly installments of $1,199 through September 2020 (4)		48			56

Notes payable, secured by equipment, 6.6% per annum interest, with varying maturity dates through September 2018		—			44

Total long-term debt		10,040			11,357
Current portion		(969	)		(1,105	)
Noncurrent portion	$	9,071		$	10,252

	(1)	In April 2014, we issued the promissory note to LSVI in the original principal amount of $6.0 million. The proceeds from the note were used to finance a portion of the purchase price for the acquisition of KBS. ATRM made principal payments on the note of $1.0 million on each of December 30, 2014, and February 25, 2016. On August 31, 2016, ATRM elected to pay PIK Interest for the six-month period ended June 30, 2016, totaling $261,000, which has been added to the principal balance. The note is subordinate to obligations under the KBS Loan Agreement.

	(2)	In 2014, in order to provide additional working capital to ATRM, we issued two promissory notes to LSV Co-Invest I in the amounts of $2.5 million and $2.0 million, respectively. On August 31, 2016, ATRM elected to pay PIK Interest for the six-month period ended June 30, 2016, totaling $273,000, which has been added to the principal balance. The notes are subordinate to obligations under the KBS Loan Agreement.

	(3)	Promissory note payable to the principal seller of KBS. The note does not accrue interest unless it is in default, in which case the annual interest rate would be 10%. The Company has imputed interest at an annual rate of 9.5%.

	(4)	Agreement to finance the purchase of software license rights and consulting services related to the implementation of enterprise management information system.

XML 30 R18.htm IDEA: XBRL DOCUMENT

Stock Incentive Plan and Share-Based Compensation

9 Months Ended

Sep. 30, 2016

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Stock Incentive Plan and Share-Based Compensation

13.

STOCK INCENTIVE PLAN AND SHARE-BASED COMPENSATION

2014 Incentive Plan

2003 Stock Incentive Plan

	Number of Shares		Weighted Average Exercise Price		Weighted Average Remaining Contract Term		Aggregate Intrinsic Value (in thousands)
Outstanding, January 1, 2016		27,500	$	6.88
No activity during the nine months ended September 30, 2016
Outstanding, September 30, 2016		27,500	$	6.88		0.75 years	$	0

Exercisable, September 30, 2016		27,500	$	6.88		0.75 years	$	0

- Definition

The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details.

+ References + Details

XML 31 R19.htm IDEA: XBRL DOCUMENT

Income Taxes

9 Months Ended

Sep. 30, 2016

Income Tax Disclosure [Abstract]

Income Taxes

14.

INCOME TAXES

XML 32 R20.htm IDEA: XBRL DOCUMENT

Legal Proceedings

9 Months Ended

Sep. 30, 2016

Commitments and Contingencies Disclosure [Abstract]

Legal Proceedings

15.

LEGAL PROCEEDINGS

UTHE Technology Corporation v. Aetrium Incorporated

Avila Plumbing & Heating Contractor, Inc. v. Modular Fun I, Inc. f/k/a KBS Building Systems, Inc. & KBS Builders, Inc. (Maine Superior Court, Oxford County, CV-15-39)

KBE Building Corporation v. KBS Builders, Inc., and ATRM Holdings, Inc., et. al.

XML 33 R21.htm IDEA: XBRL DOCUMENT

Subsequent Events

9 Months Ended

Sep. 30, 2016

Subsequent Events [Abstract]

Subsequent Events

16.

SUBSEQUENT EVENTS

EBGL Asset Purchase

Estimated total purchase price is as follows:

Cash paid at closing	$	2,960
NPV of deferred payment		941
Fair Value of contingent earnout		943
Fair value of ATRM common stock issued		149
Estimated true-up payment		206
Total purchase price	$	5,199

Preliminary fair values of assets and liabilities acquired in the transaction are as follows:

Inventory	$	894
Equipment		289
Prepaid and other assets		12
Assumed Liabilities (PTO)		(40	)
Intangibles (backlog, customer list, trademarks, goodwill)		4,044
Total net assets acquired	$	5,199

Financing from Gerber Finance Inc.

Financing from Lone Star Value Co-Invest I, LP

XML 34 R22.htm IDEA: XBRL DOCUMENT

Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2016

Fair Value Disclosures [Abstract]

Schedule of Fair Value of Financial Assets Measured on Recurring Basis

Financial assets reported at fair value on a recurring basis included the following at September 30, 2016 (in thousands):

	Level 1		Level 2		Level 3
Contingent earn-out receivable related to the transfer of test handler product line:
Current portion	$	—	$	—	$	384
Noncurrent portion				—		305
Total	$	—	$	—	$	689

Schedule of Assets Reported Fair Value on Nonrecurring

Assets reported at fair value on a nonrecurring basis included the following at September 30, 2016 (in thousands):

	Level 1		Level 2		Level 3		Total Losses

Goodwill (1)	$	—	$	—	$	—	($	1,733	)

(1)	Goodwill with a carrying value of $1.7 million was written down to zero at September 30, 2016. As a result, we recorded an impairment charge of $1.7 million in the three and nine months ended September 30, 2016 as described in Note 7.

Schedule of Fair Value of Assets Activity

The following table summarizes the Level 3 activity for our earn-out receivable related to the transfer of our test handler product line (in thousands):

	Earn-out

Balance at December 31, 2015	$	877
Add - adjustment based on fair value assessments		24
Subtract – settlements		(212	)
Balance at September 30, 2015	$	689

Schedule of Fair Value of Goodwill Activity

The following table summarizes the Level 3 activity for our goodwill measured on a non-recurring basis (in thousands):

	Earn-out

Balance at December 31, 2015	$	1,733
Subtract – goodwill impairment recorded at September 30, 2016 (included in earnings)		(1,733	)
Balance at September 30, 2015	$	—

Schedule of Quantitative Information Level 3 Fair Value Measurements

Quantitative information about Level 3 fair value measurements on a recurring basis at September 30, 2016 is summarized in the table below:

Fair Value Asset	Valuation Technique	Unobservable Input	Amount
Earn-out receivable related to transfer of test handler product line	Discounted cash flow	Total projected revenue	$	11 million
		Revenue growth rate		0	%
		Performance weighted average		60% to 125%
		Discount rate		10	%

Quantitative information about Level 3 fair value measurements on a nonrecurring basis at September 30, 2016 is summarized in the table below:

Fair Value Asset	Valuation Technique	Unobservable Input	Amount
Goodwill	Discounted cash flow	Projected annual revenue	$	32 million
		Annual revenue growth rate		0	%
		Discount rate		20	%

XML 35 R23.htm IDEA: XBRL DOCUMENT

Accounts Receivable, Net (Tables)

9 Months Ended

Sep. 30, 2016

Receivables [Abstract]

Schedule of Accounts Receivable

Accounts receivable consists of the following (in thousands):

	September 30, 2016			December 31, 2015
	(Unaudited)

Contract billings	$	1,770		$	2,586
Retainage		—			347
Subtotal		1,770			2,933
Less - allowance for doubtful accounts		(260	)		(370	)
Accounts receivable, net	$	1,510		$	2,563

XML 36 R24.htm IDEA: XBRL DOCUMENT

Inventories (Tables)

9 Months Ended

Sep. 30, 2016

Inventory Disclosure [Abstract]

Schedule of Inventories

Inventories are comprised of the following (in thousands):

	September 30, 2016		December 31, 2015
	(Unaudited)

Raw materials	$	939	$	1,120
Finished goods		75		121
Total inventories	$	1,014	$	1,241

XML 37 R25.htm IDEA: XBRL DOCUMENT

Goodwill and Intangible Assets, Net (Tables)

9 Months Ended

Sep. 30, 2016

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Intangible Assets

Intangible assets are comprised of the following (in thousands):

	September 30, 2016 (unaudited)							December 31, 2015
	Gross Carrying Amount		Accumulated Amortization			Net Carrying Value		Gross Carrying Amount		Accumulated Amortization			Net Carrying Value
Indefinite-lived intangible assets:
Goodwill	$	—	$	—		$	—	$	1,733	$	—		$	1,733
Trademarks		290		—			290		290		—			290
Total		290		—			290		2,023		—			2,023

Finite-lived intangible assets:
Customer relationships		1,420		(507	)		913		1,420		(355	)		1,065
Total		1,420		(507	)		913		1,420		(355	)		1,065

Total intangible assets	$	1,710	$	(507	)	$	1,203	$	3,443	$	(355	)	$	3,088

Schedule of Estimated Amortization of Intangible Assets

Estimated amortization of purchased intangible assets over the next five years is as follows (in thousands):

2016 (three months)	$	51
2017		203
2018		203
2019		203
2020		203
Thereafter		50
Total	$	913

XML 38 R26.htm IDEA: XBRL DOCUMENT

Uncompleted Construction Contracts (Tables)

9 Months Ended

Sep. 30, 2016

Contractors [Abstract]

Schedule of Uncompleted Contracts

The status of uncompleted construction contracts is as follows (in thousands):

	September 30, 2016			December 31, 2015
	(Unaudited)

Costs incurred on uncompleted contracts	$	3,152		$	1,155
Inventory purchased for specific contracts		1,449			1,819
Estimated profit		551			142
Subtotal		5,152			3,116
Less billings to date		(4,102	)		(3,409	)
Total	$	1,050		$	(293	)

Included in the following balance sheet captions:
Costs and estimated profit in excess of billings	$	1,524		$	472
Billings in excess of costs and estimated profit		(474	)		(765	)
Total	$	1,050		$	(293	)

XML 39 R27.htm IDEA: XBRL DOCUMENT

Other Accrued Liabilities (Tables)

9 Months Ended

Sep. 30, 2016

Payables and Accruals [Abstract]

Schedule of Other Accrued Liabilities

Other accrued liabilities are comprised of the following (in thousands):

	September 30, 2016		December 31, 2015
	(Unaudited)

Accrued interest expense	$	285	$	502
Accrued severance and related costs		15		331
Accrued sales taxes		499		562
Accrued health insurance costs		172		133
Accrued sales rebates		359		402
Accrued warranty		47		39
Other		21		15
Total other accrued liabilities	$	1,398	$	1,984

Schedule of Changes in Accrued Warranty

Changes in accrued warranty are summarized below (in thousands):

	Nine months ended September 30,
	2016			2015

Accrual balance, beginning of period	$	39		$	78
Accruals for warranties		37			10
Settlements made		(29	)		(31	)
Accrual balance, end of period	$	47		$	57

XML 40 R28.htm IDEA: XBRL DOCUMENT

Notes Payable (Tables)

9 Months Ended

Sep. 30, 2016

Debt Disclosure [Abstract]

Schedule of Net Carrying Value of Line of Credit

As of September 30, 2016, the net carrying value of the line of credit was as follows:

Line of credit balance	$	2,986
Unamortized debt issuance costs		(165	)
Line of credit balance, net	$	2,821

XML 41 R29.htm IDEA: XBRL DOCUMENT

Long-Term Debt (Tables)

9 Months Ended

Sep. 30, 2016

Debt Disclosure [Abstract]

Schedule of Long-Term Debt

Long-term debt consists of the following (in thousands):

	September 30, 2016			December 31, 2015
	(Unaudited)

Promissory note payable to LSVI, issued on April 1, 2014, unsecured, 10% per annum interest payable semi-annually in July and January (12% per annum if PIK Interest option is elected), with any unpaid principal and interest due on April 1, 2019 (1)	$	4,261		$	5,000

Promissory notes payable to LSV Co-Invest I, unsecured, 10% per annum interest payable semi-annually in July and January (12% per annum if PIK Interest option is elected), with any unpaid principal and interest due on April 1, 2019 (2)		4,773			4,500

Promissory note payable, unsecured, payable in monthly installments of $100,000 through July 2017, interest imputed at 9.5% (3)		958			1,757

Installment payment agreement, 8.0% per annum interest, payable in monthly installments of $1,199 through September 2020 (4)		48			56

Notes payable, secured by equipment, 6.6% per annum interest, with varying maturity dates through September 2018		—			44

Total long-term debt		10,040			11,357
Current portion		(969	)		(1,105	)
Noncurrent portion	$	9,071		$	10,252

	(1)	In April 2014, we issued the promissory note to LSVI in the original principal amount of $6.0 million. The proceeds from the note were used to finance a portion of the purchase price for the acquisition of KBS. ATRM made principal payments on the note of $1.0 million on each of December 30, 2014, and February 25, 2016. On August 31, 2016, ATRM elected to pay PIK Interest for the six-month period ended June 30, 2016, totaling $261,000, which has been added to the principal balance. The note is subordinate to obligations under the KBS Loan Agreement.

	(2)	In 2014, in order to provide additional working capital to ATRM, we issued two promissory notes to LSV Co-Invest I in the amounts of $2.5 million and $2.0 million, respectively. On August 31, 2016, ATRM elected to pay PIK Interest for the six-month period ended June 30, 2016, totaling $273,000, which has been added to the principal balance. The notes are subordinate to obligations under the KBS Loan Agreement.

	(3)	Promissory note payable to the principal seller of KBS. The note does not accrue interest unless it is in default, in which case the annual interest rate would be 10%. The Company has imputed interest at an annual rate of 9.5%.

	(4)	Agreement to finance the purchase of software license rights and consulting services related to the implementation of enterprise management information system.

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.22)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 470
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6479336&loc=d3e64711-112823

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(e),(f))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 55
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=64930739&loc=d3e28878-108400

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21538-112644

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21506-112644

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=64930785&loc=d3e28541-108399

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=64930785&loc=d3e28551-108399

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21521-112644

+ Details

XML 42 R30.htm IDEA: XBRL DOCUMENT

Subsequent Events (Tables)

9 Months Ended

Sep. 30, 2016

Subsequent Events [Abstract]

Schedule of Estimated Total Purchase Price

Estimated total purchase price is as follows:

Cash paid at closing	$	2,960
NPV of deferred payment		941
Fair Value of contingent earnout		943
Fair value of ATRM common stock issued		149
Estimated true-up payment		206
Total purchase price	$	5,199

Schedule of Preliminary Fair Values of Assets and Liabilities

Preliminary fair values of assets and liabilities acquired in the transaction are as follows:

Inventory	$	894
Equipment		289
Prepaid and other assets		12
Assumed Liabilities (PTO)		(40	)
Intangibles (backlog, customer list, trademarks, goodwill)		4,044
Total net assets acquired	$	5,199

XML 43 R31.htm IDEA: XBRL DOCUMENT

Stock Incentive Plan and Share-Based Compensation (Tables)

9 Months Ended

Sep. 30, 2016

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Schedule of Share-based Compensation, Stock Options, Activity

The following table summarizes stock option activity under the 2003 Plan for the nine months ended September 30, 2016:

	Number of Shares		Weighted Average Exercise Price		Weighted Average Remaining Contract Term		Aggregate Intrinsic Value (in thousands)
Outstanding, January 1, 2016		27,500	$	6.88
No activity during the nine months ended September 30, 2016
Outstanding, September 30, 2016		27,500	$	6.88		0.75 years	$	0

Exercisable, September 30, 2016		27,500	$	6.88		0.75 years	$	0

XML 44 R32.htm IDEA: XBRL DOCUMENT

Financial Position, Liquidity and Capital Resources (Details Narrative) - USD ($)	3 Months Ended		6 Months Ended	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Jun. 30, 2016	Sep. 30, 2016	Sep. 30, 2015	Aug. 31, 2016	Aug. 12, 2016	Feb. 23, 2016	Dec. 31, 2015	Dec. 31, 2014	Apr. 30, 2014
Accumulated deficit	$ 78,945,000			$ 78,945,000					$ 73,651,000
Line of credit, current, net of deferred financing costs	3,337,000			3,337,000
Interest Expense	392,000	$ 318,000		1,116,000	$ 1,107,000
Payment In-Kind [Member]
Debt principal amount						$ 261,000
Debt instrument annual interest rate							12.00%
Gerber Finance Inc [Member] \| Loan And Security Agreement [Member]
Line of credit with maximum borrowing availability								$ 4,000,000
Line of credit, current, net of deferred financing costs								$ 3,300,000
KBS Builders [Member]
Outstanding debt	12,900,000			12,900,000
Line of credit, current, net of deferred financing costs	$ 2,800,000			$ 2,800,000
Debt instrument annual interest rate	10.00%			10.00%
KBS Builders [Member] \| Unsecured Promissory Note [Member]
Debt principal amount	$ 1,000,000			$ 1,000,000
Lone Star Value Investors, LP [Member]
Debt principal amount											$ 6,000,000
Lone Star Value Investors, LP [Member] \| Promissory Notes [Member]
Debt principal amount	4,300,000			$ 4,300,000
Lone Star Value Co-Invest I, LP [Member]
Debt instrument annual interest rate							10.00%
Debt due date				Apr. 01, 2019
Lone Star Value Co-Invest I, LP [Member] \| Promissory Notes [Member]
Debt principal amount	$ 4,800,000			$ 4,800,000						$ 2,500,000
Lone Star Value Co-Invest I, LP [Member] \| Payment In-Kind [Member]
Interest Expense			$ 534,000
Debt instrument annual interest rate			12.00%				12.00%

XML 45 R33.htm IDEA: XBRL DOCUMENT

Fair Value Measurements - Schedule of Fair Value of Financial Assets Measured on Recurring Basis (Details) $ in Thousands	Sep. 30, 2016 USD ($)
Level 1 [Member]
Contingent earn-out receivable, Current portion
Contingent earn-out receivable, Noncurrent portion
Contingent earn out receivable, Total
Level 2 [Member]
Contingent earn-out receivable, Current portion
Contingent earn-out receivable, Noncurrent portion
Contingent earn out receivable, Total
Level 3 [Member]
Contingent earn-out receivable, Current portion	384
Contingent earn-out receivable, Noncurrent portion	305
Contingent earn out receivable, Total	$ 689

XML 46 R34.htm IDEA: XBRL DOCUMENT

Fair Value Measurements - Schedule of Assets Reported Fair Value on Nonrecurring (Details) - USD ($)
$ in Thousands

Sep. 30, 2016

Dec. 31, 2015

Goodwill

$ 1,733

Fair Value Measurements Nonrecurring [Member]

Goodwill

$ 1,733

Total losses

^[1]

(1,733)

Level 1 [Member] | Fair Value Measurements Nonrecurring [Member]

Goodwill

^[1]

Level 2 [Member] | Fair Value Measurements Nonrecurring [Member]

Goodwill

^[1]

Level 3 [Member] | Fair Value Measurements Nonrecurring [Member]

Goodwill

^[1]

[1]	Goodwill with a carrying value of $1.7 million was written down to zero at September 30, 2016. As a result, we recorded an impairment charge of $1.7 million in the three and nine months ended September 30, 2016 as described in Note 7.

XML 47 R35.htm IDEA: XBRL DOCUMENT

Fair Value Measurements - Schedule of Assets Reported Fair Value on Nonrecurring (Details) (Parenthetical) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2016 USD ($)	Sep. 30, 2016 USD ($)
Fair Value Disclosures [Abstract]
Goodwill carring value	$ 1,700	$ 1,700
Goodwill written down value	0	0
Goodwill impairment	$ 1,700	$ 1,700

XML 48 R36.htm IDEA: XBRL DOCUMENT

Fair Value Measurements - Schedule of Fair Value of Assets Activity (Details) - Earn-Out Receivable [Member] $ in Thousands	9 Months Ended
	Sep. 30, 2016 USD ($)
Balance, beginning	$ 877
Add - adjustments based on fair value assessments at March 31, 2016 and June 30, 2016	24
Subtract - settlements	(212)
Balance, ending	$ 689

XML 49 R37.htm IDEA: XBRL DOCUMENT

Fair Value Measurements - Schedule of Fair Value of Goodwill Activity (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Goodwill, Beginning balance			$ 1,733
Subtract – goodwill impairment recorded at September 30, 2016 (included in earnings)	$ (1,733)		(1,733)
Goodwill, Ending balance
Fair Value Measurements Nonrecurring [Member]
Goodwill, Beginning balance			1,733
Subtract – goodwill impairment recorded at September 30, 2016 (included in earnings)			(1,733)
Goodwill, Ending balance

XML 50 R38.htm IDEA: XBRL DOCUMENT

Fair Value Measurements - Schedule of Quantitative Information Level 3 Fair Value Measurements (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2016 USD ($)
Fair Value, Measurements, Recurring [Member]
Fair Value Asset	Earn-out receivable related to transfer of test handler product line
Fair value of assets, valuation technique	Discounted cash flow
Unobservable input projected revenue	$ 11,000
Unobservable input Revenue growth rate	0.00%
Unobservable input performance weighted average, Minimum	60.00%
Unobservable input performance weighted average, Maximum	125.00%
Unobservable input discount rate	10.00%
Fair Value Measurements Nonrecurring [Member]
Fair Value Asset	Goodwill
Fair value of assets, valuation technique	Discounted cash flow
Unobservable input projected revenue	$ 32,000
Unobservable input Revenue growth rate	0.00%
Unobservable input discount rate	20.00%

XML 51 R39.htm IDEA: XBRL DOCUMENT

Accounts Receivable, Net - Schedule of Accounts Receivable (Details) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Receivables [Abstract]
Contract billings	$ 1,770	$ 2,586
Retainage		347
Subtotal	1,770	2,933
Less - allowance for doubtful accounts	(260)	(370)
Accounts receivable, net	$ 1,510	$ 2,563

XML 52 R40.htm IDEA: XBRL DOCUMENT

Inventories - Schedule of Inventories (Details) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Inventory Disclosure [Abstract]
Raw materials	$ 939	$ 1,120
Finished goods	75	121
Total inventories	$ 1,014	$ 1,241

XML 53 R41.htm IDEA: XBRL DOCUMENT

Goodwill and Intangible Assets, Net (Details Narrative) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Amortization expense	$ 51	$ 61	$ 152	$ 282
Goodwill impairment charge	$ 1,733		1,733
KBS Builders [Member]
Goodwill impairment charge			$ 1,700

XML 54 R42.htm IDEA: XBRL DOCUMENT

Goodwill and Intangible Assets, Net - Schedule of Intangible Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Total finite-lived intangible assets Net Carrying Value	$ 913
Gross Carrying Amount	1,710	$ 3,443
Accumulated Amortization	(507)	(355)
Net Carrying Value	1,203	3,088
Indefinite Lived Intangible Assets [Member]
Indefinite-lived intangible assets Gross Carrying Amount	2,023	2,023
Indefinite-lived intangible assets Gross Accumulated Amortization
Indefinite-lived intangible assets Gross Net Carrying Value	2,023	2,023
Indefinite Lived Intangible Assets [Member] \| Trademarks [Member]
Indefinite-lived intangible assets Gross Carrying Amount	290	290
Indefinite-lived intangible assets Gross Accumulated Amortization
Indefinite-lived intangible assets Gross Net Carrying Value	290	290
Finite Lived Intangible Assets [Member]
Finite lived intangible assets Gross Carrying Amount	1,420	1,420
Finite lived intangible assets Accumulated Amortization	(507)	(355)
Total finite-lived intangible assets Net Carrying Value	913	1,065
Finite Lived Intangible Assets [Member] \| Customer Relationships [Member]
Finite lived intangible assets Gross Carrying Amount	1,420	1,420
Finite lived intangible assets Accumulated Amortization	(507)	(355)
Total finite-lived intangible assets Net Carrying Value	913	1,065
Goodwill [Member] \| Indefinite Lived Intangible Assets [Member]
Indefinite-lived intangible assets Gross Carrying Amount		1,733
Indefinite-lived intangible assets Gross Accumulated Amortization
Indefinite-lived intangible assets Gross Net Carrying Value		$ 1,733

XML 55 R43.htm IDEA: XBRL DOCUMENT

Goodwill and Intangible Assets, Net - Summary of Estimated Amortization of Intangible Assets (Details) $ in Thousands	Sep. 30, 2016 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2016 (three months)	$ 51
2017	203
2018	203
2019	203
2020	203
Thereafter	50
Total finite-lived intangible assets	$ 913

XML 56 R44.htm IDEA: XBRL DOCUMENT

Uncompleted Construction Contracts (Details Narrative) $ in Thousands	Sep. 30, 2016 USD ($)
Contractors [Abstract]
Amount of remaining contract	$ 7,800

XML 57 R45.htm IDEA: XBRL DOCUMENT

Uncompleted Construction Contracts - Schedule of Uncompleted Contracts (Details) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Contractors [Abstract]
Costs incurred on uncompleted contracts	$ 3,152	$ 1,155
Inventory purchased for specific contracts	1,449	1,819
Estimated profit	551	142
Subtotal	5,152	3,116
Less billings to date	(4,102)	(3,409)
Total	1,050	(293)
Costs and estimated profit in excess of billings	1,524	472
Billings in excess of costs and estimated profit	(474)	(765)
Total	$ 1,050	$ (293)

XML 58 R46.htm IDEA: XBRL DOCUMENT

Accounts Payable Retainage (Details Narrative) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Accounts payable	$ 4,766	$ 3,491
Subcontractors [Member]
Accounts payable retainage	$ 500	$ 500

XML 59 R47.htm IDEA: XBRL DOCUMENT

Other Accrued Liabilities (Details Narrative) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2015 Employees	Sep. 30, 2016 USD ($)
Severance charge \| $		$ 15
KBS Operations [Member]
Number of employees terminated during the period \| Employees	6

XML 60 R48.htm IDEA: XBRL DOCUMENT

Other Accrued Liabilities - Schedule of Other Accrued Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Payables and Accruals [Abstract]
Accrued interest expense	$ 285	$ 502
Accrued severance and related costs	15	331
Accrued sales taxes	499	562
Accrued health insurance costs	172	133
Accrued sales rebates	359	402
Accrued warranty	47	39
Other	21	15
Total other current accrued liabilities	$ 1,398	$ 1,984

XML 61 R49.htm IDEA: XBRL DOCUMENT

Other Accrued Liabilities - Schedule of Changes in Accrued Warranty (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Payables and Accruals [Abstract]
Accrual balance, beginning of period	$ 39	$ 78
Accruals for warranties	37	10
Settlements made	(29)	(31)
Accrual balance, end of period	$ 47	$ 57

XML 62 R50.htm IDEA: XBRL DOCUMENT

Notes Payable (Details Narrative) - USD ($)		1 Months Ended	9 Months Ended
Notes Payable (Details Narrative) - USD ($)	Feb. 23, 2016	Apr. 30, 2014	Sep. 30, 2016	Sep. 30, 2015
Line of credit, current, net deferred financing costs			$ 3,337,000
KBS Builders [Member]
Notes payable maturity date		Dec. 01, 2014
Line of credit	$ 2,600,000
Unsecured promissory note, principal amount		$ 5,500,000
Debt forgiveness amount		2,500,000
Gain on settlement				$ 3,700,000
Notes payable monthly installment		$ 100,000
KBS Builders [Member]
Line of credit			300,000
Line of credit, current, net deferred financing costs			2,800,000
Debt issuance costs			$ 230,000
KBS Loan Agreement [Member] \| Gerber Finance Inc [Member]
Line of credit with maximum borrowing availability	$ 4,000,000
Notes payable maturity date	Feb. 22, 2018
KBS Loan Agreement [Member] \| Gerber Finance Inc [Member] \| December 31, 2016 [Member]
Note payable maximum leverage ratio			7:1
KBS Loan Agreement [Member] \| Gerber Finance Inc [Member] \| Prime Rate [Member]
Borrowing bearing variable interest rate	2.75%

XML 63 R51.htm IDEA: XBRL DOCUMENT

Notes Payable - Schedule of Net Carrying Value of Line of Credit (Details)	Sep. 30, 2016 USD ($)
Debt Disclosure [Abstract]
Line of credit balance	$ 3,531,000
Unamortized debt issuance costs	(194,000)
Line of credit balance, net	$ 3,337,000

- Definition

The carrying value as of the balance sheet date of the current portion of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement.

+ References + Details

XML 64 R52.htm IDEA: XBRL DOCUMENT

Long-Term Debt (Details Narrative) - USD ($)	9 Months Ended
Long-Term Debt (Details Narrative) - USD ($)	Sep. 30, 2016	Aug. 31, 2016	Aug. 12, 2016	Jun. 30, 2016	Feb. 25, 2016	Dec. 31, 2014	Dec. 30, 2014	Apr. 30, 2014
LSVI [Member]
Number of shares owned	1,067,885
Percentage of outstanding shares	47.10%
LSVI [Member] \| Promissory Notes Two [Member]
Note payable, bears interest percentage	12.00%
Payment In-Kind [Member]
Debt principal amount		$ 261,000
Note payable, bears interest percentage			12.00%
Payment In-Kind [Member] \| Promissory Notes Two [Member]
Debt principal amount				$ 534,000
Debt instrument incremental interest				$ 89,000
Payment In-Kind One [Member]
Debt principal amount		$ 273,000
KBS Loan Agreement [Member]
Debt principal payments					$ 1,000,000		$ 1,000,000
Lone Star Value Investors, LP [Member]
Debt principal amount								$ 6,000,000
Lone Star Value Investors, LP [Member] \| Promissory Notes [Member]
Debt principal amount	$ 4,300,000
Lone Star Value Co-Invest I, LP [Member]
Note payable, bears interest percentage			10.00%
Lone Star Value Co-Invest I, LP [Member] \| Promissory Notes [Member]
Debt principal amount	$ 4,800,000					$ 2,500,000
Lone Star Value Co-Invest I, LP [Member] \| Promissory Notes Two [Member]
Debt principal amount						$ 2,000,000
Lone Star Value Co-Invest I, LP [Member] \| Payment In-Kind [Member]
Note payable, bears interest percentage			12.00%	12.00%
KBS Builders [Member]
Note payable, bears interest percentage	10.00%
Promissory note imputed interest rate	9.50%

XML 65 R53.htm IDEA: XBRL DOCUMENT

Long-Term Debt - Schedule of Long-Term Debt (Details) - USD ($)
$ in Thousands

Sep. 30, 2016

Dec. 31, 2015

Total long-term debt

$ 10,040

$ 11,357

Current portion

(969)

(1,105)

Noncurrent portion

9,071

10,252

Promissory note payable to LSVI, issued on April 1, 2014, unsecured, 10% per annum interest payable semi-annually in July and January (12% per annum if PIK Interest option is elected), with any unpaid principal and interest due on April 1, 2019 [Member]

Total long-term debt

^[1]

4,261

5,000

Promissory notes payable to LSV Co-Invest I, unsecured, 10% per annum interest payable semi-annually in July and January (12% per annum if PIK Interest option is elected), with any unpaid principal and interest due on April 1, 2019 [Member]

Total long-term debt

^[2]

4,773

4,500

Promissory note payable, unsecured, payable in monthly installments of $100,000 through July 2017, interest imputed at 9.5% [Member]

Total long-term debt

^[3]

958

1,757

Installment payment agreement, 8.0% per annum interest, payable in monthly installments of $1,199 through September 2020 [Member]

Total long-term debt

^[4]

Notes payable, secured by equipment, 6.6% per annum interest, with varying maturity dates through September 2018 [Member]

Total long-term debt

$ 44

[1]	In April 2014, we issued the promissory note to LSVI in the original principal amount of $6.0 million. The proceeds from the note were used to finance a portion of the purchase price for the acquisition of KBS. ATRM made principal payments on the note of $1.0 million on each of December 30, 2014, and February 25, 2016. On August 31, 2016, ATRM elected to pay PIK Interest for the six-month period ended June 30, 2016, totaling $261,000, which has been added to the principal balance. The note is subordinate to obligations under the KBS Loan Agreement.
[2]	In 2014, in order to provide additional working capital to ATRM, we issued two promissory notes to LSV Co-Invest I in the amounts of $2.5 million and $2.0 million, respectively. On August 31, 2016, ATRM elected to pay PIK Interest for the six-month period ended June 30, 2016, totaling $273,000, which has been added to the principal balance. The notes are subordinate to obligations under the KBS Loan Agreement.
[3]	Promissory note payable to the principal seller of KBS. The note does not accrue interest unless it is in default, in which case the annual interest rate would be 10%. The Company has imputed interest at an annual rate of 9.5%.
[4]	Agreement to finance the purchase of software license rights and consulting services related to the implementation of enterprise management information system.

XML 66 R54.htm IDEA: XBRL DOCUMENT

Long-Term Debt - Schedule of Long-Term Debt (Details) (Parenthetical) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2016	Dec. 31, 2015
Promissory note payable to LSVI, issued on April 1, 2014, unsecured, 10% per annum interest payable semi-annually in July and January (12% per annum if PIK Interest option is elected), with any unpaid principal and interest due on April 1, 2019 [Member]
Long-term debt, interest percentage, per annum	10.00%	10.00%
Notes payable maturity date	Apr. 01, 2019	Apr. 01, 2019
Pay in kind interest	12.00%	12.00%
Promissory notes payable to LSV Co-Invest I, unsecured, 10% per annum interest payable semi-annually in July and January (12% per annum if PIK Interest option is elected), with any unpaid principal and interest due on April 1, 2019 [Member]
Long-term debt, interest percentage, per annum	10.00%	10.00%
Notes payable maturity date	Apr. 01, 2019	Apr. 01, 2019
Pay in kind interest	12.00%	12.00%
Promissory note payable, unsecured, payable in monthly installments of $100,000 through July 2017, interest imputed at 9.5% [Member]
Long-term debt, interest percentage, per annum	9.50%	9.50%
Notes payable maturity date	Jul. 31, 2017	Jul. 31, 2017
Promissory note, payable in monthly installments	$ 100	$ 100
Installment payment agreement, 8.0% per annum interest, payable in monthly installments of $1,199 through September 2020 [Member]
Long-term debt, interest percentage, per annum	8.00%	8.00%
Notes payable maturity date	Sep. 30, 2020	Sep. 30, 2020
Promissory note, payable in monthly installments	$ 1,199	$ 1,199
Notes payable, secured by equipment, 6.6% per annum interest, with varying maturity dates through September 2018 [Member]
Long-term debt, interest percentage, per annum	6.60%	6.60%
Notes payable maturity date	Sep. 30, 2018	Sep. 30, 2018

XML 67 R55.htm IDEA: XBRL DOCUMENT

Stock Incentive Plan and Share-Based Compensation (Details Narrative) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended		9 Months Ended
	Jun. 05, 2015	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Dec. 04, 2014
Share-based compensation expense		$ 0	$ 66	$ 115	$ 86
Directors And Chief Financial Officer [Member]
Restricted stock awards	60,000
Fair value of stock awards	$ 4.48
2014 Incentive Plan [Member]
Shares authorized for incentive plan						100,000

XML 68 R56.htm IDEA: XBRL DOCUMENT

Stock Incentive Plan and Share-Based Compensation - Schedule of Share-based Compensation, Stock Options, Activity (Details) $ / shares in Units, $ in Thousands	9 Months Ended
	Sep. 30, 2016 USD ($) $ / shares shares
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Number of Shares, Outstanding, Beginning balance \| shares	27,500
Number of Shares, No activity during the nine months ended September 30, 2016 \| shares
Number of Shares, Outstanding, Ending balance \| shares	27,500
Number of Shares, Exercisable, Balance \| shares	27,500
Weighted Average Exercise Price, Outstanding, Beginning balance \| $ / shares	$ 6.88
Weighted Average Exercise Price, No activity during the nine months ended September 30, 2016 \| $ / shares
Weighted Average Exercise Price, Outstanding, Ending balance \| $ / shares	6.88
Weighted Average Exercise Price, Exercisable, Balance \| $ / shares	$ 6.88
Weighted Average Remaining Contract Term, Outstanding, Ending balance	9 months
Weighted Average Remaining Contract Term, Exercisable, Balance	9 months
Aggregate Intrinsic Value, Outstanding, Balance \| $	$ 0
Aggregate Intrinsic Value, Exercisable, Balance \| $	$ 0

XML 69 R57.htm IDEA: XBRL DOCUMENT

Income Taxes (Details Narrative) $ in Thousands	Sep. 30, 2016 USD ($)
Income Tax Disclosure [Abstract]
Deferred tax liability	$ 18

XML 70 R58.htm IDEA: XBRL DOCUMENT

Legal Proceedings (Details Narrative) - Avila Plumbing and Heating Contractor, Inc [Member] $ in Thousands	9 Months Ended
	Sep. 30, 2016 USD ($)
Fail to pay to the contractors	$ 476,477
Refusing to pay the withholding payment	518,842
Lien amount on property	$ 518,842

XML 71 R59.htm IDEA: XBRL DOCUMENT

Subsequent Event (Details Narrative) - USD ($)		9 Months Ended
Subsequent Event (Details Narrative) - USD ($)	Oct. 04, 2016	Sep. 30, 2016
Working capital line of credit		$ 3,531,000
Subsequent Event [Member]
Business acquisition	$ 4,000,000	$ 4,000,000
Net of liability assumed	3,000,000
Debt instrument periodic payment	$ 1,000,000
Number of common stock shares	100,000
Potential earn-out payment	$ 1,000,000
Subsequent Event [Member] \| Financing From Lone Star Value Co-Invest I LP [Member]
Debt instrument interest rate	10.00%
Unsecured promisory note principal amount	$ 2,000,000
Debt conversion converted debt	$ 2,000,000
Percentage of paid in kind interest rate decription	PIK Interest or 50% cash and 50% PIK Interest
Promissory notes, annual interest rate	12.00%
Promissory notes, maturity date	Apr. 01, 2019
Subsequent Event [Member] \| Financing From Lone Star Value Co-Invest I LP [Member] \| PIK [Member]
Promissory notes, annual interest rate	50.00%
Subsequent Event [Member] \| Acquisition Loan Agreement [Member]
Working capital line of credit	$ 1,000,000
Loan agreement expiry date	Dec. 31, 2018
Line of credit maximum borrowing capacity	$ 3,000,000
Subsequent Event [Member] \| Acquisition Loan Agreement [Member] \| Prime Rate [Member]
Debt instrument interest rate	3.00%	2.75%
Subsequent Event [Member] \| Financing From Gerber Finance Inc [Member]
Business acquisition	$ 3,000,000
Working capital line of credit	$ 3,000,000
Loan agreement expiry date	Oct. 03, 2018

XML 72 R60.htm IDEA: XBRL DOCUMENT

Subsequent Events - Schedule of Estimated Total Purchase Price (Details) - Subsequent Event [Member] $ in Thousands	Oct. 04, 2016 USD ($)
Total purchase price	$ 5,199
Cash Paid At Closing [Member]
Total purchase price	2,960
NPV of Deferred Payment [Member]
Total purchase price	941
Fair Value Of Contingent Earnout [Member]
Total purchase price	943
Fair value of ATRM Common Stock Issued [Member]
Total purchase price	149
Estimated True-up Payment [Member]
Total purchase price	$ 206

XML 73 R61.htm IDEA: XBRL DOCUMENT

Subsequent Events - Schedule of Preliminary Fair Values of Assets and Liabilities (Details) - Subsequent Event [Member] $ in Thousands	Oct. 04, 2016 USD ($)
Inventory	$ 894
Equipment	289
Prepaid and other assets	12
Assumed Liabilities (PTO)	(40)
Intangibles (backlog, customer list, trademarks, goodwill)	4,044
Total net assets acquired	$ 5,199

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