Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Cash flows from operating activities    
Net loss $ (26,078) $ (30,112)
Adjustments to reconcile net loss to net cash used in operating activities    
Income from equity method investments (43) (39)
Stock-based compensation (300) 1,029
Depreciation and amortization 6 3,615
Amortization of debt issuance costs 159 161
Bad debt provision 4,358 1,370
Provision for stock option fair value   (25)
Goodwill impairment charge   3,423
Intangibles impairment charge   117
Gain on Paycheck Protection Program loan forgiveness   (1,665)
Accretion expense 681 681
Tax impact of equity transactions   2
Right of use assets 252 280
Deferred income taxes, net (807) 191
Change in operating assets and liabilities    
Accounts receivable, net 11,542 12,667
Accounts payable and accrued liabilities 4,490 724
Due from MSAs 648 (316)
Lease liability (215) (50)
Other assets and liabilities (300) 168
Operating cash flows from discontinued operations 563 365
Net cash used in operating activities (5,044) (7,414)
Cash flows from investing activities    
Purchase of fixed assets   (80)
Net cash paid for acquisitions (572)  
Distributions received from equity method investments 101 80
Net cash used in investing activities (471)  
Cash flows from financing activities    
Proceeds from exercise of stock options   4
Proceeds from share issuance, net of share issuance costs 5,383 5,195
Finance lease principal payments (369) (620)
Payment of acquisition liability (281) (280)
Net cash provided by financing activities 4,733 4,299
Decrease in cash (782) (3,115)
Cash at beginning of year 905 4,020
Cash at end of year 123 905
Supplemental cash flow information    
Interest paid 1,499 1,451
Supplemental non-cash flow information    
Purchase of equipment with finance leases   79
Right-of-use asset in exchange for lease liability 42  
Shares issued related to acquisition $ 205  
Intangible assets acquired in exchange for common shares issued   $ 390