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, 2017
Dec. 31, 2016
Dec. 31, 2015
Cash flows from operating activities:      
Net income (loss) $ 40,589 $ (2,868) $ (3,600)
Adjustments to reconcile net income (loss) to net cash used in operating activities:      
Gain on sale of assets, net of taxes (42,301) (9)
Income tax benefit (1,421)
Depreciation 337 426 367
Loss on fixed asset disposal 291
Amortization of loan origination and warrant expenses 10 24  
Share-based compensation expense 78 1 135
Changes in operating assets and liabilities:      
Accounts receivable 3,825 (1,770) 1,836
Inventory 1,205 1,595 (1,039)
Prepaid expenses and other assets 199 1,204 (480)
Accounts payable (1,594) 1,166 323
Income tax payable (1,350)
Accrued advertising and other allowances (2,605) 297 (1,177)
Other operating assets and liabilities, net (138) (547) 147
Accrued sales allowance transfer to purchaser-due to Mylan 59
Assets held for sale (22)
Net cash used in operating activities (2,838) (472) (3,497)
Cash flows from investing activities:      
Net proceeds from sale of asset 40,825 9
Purchase of marketable securities (31,693)
Sale of marketable securities 12,850
Capital expenditures (208) (651) (718)
Net cash flows provided by (used in) investing activities 21,774 (651) (709)
Cash flows from financing activities:      
Payments to retire Notes (1,500)
Payments to acquire treasury stock (16,283)
Proceeds for exercise of warrants 69
Proceeds for exercise of stock options 1,510
Proceeds from issuance of common stock 1,564
Payment of long term obligation (100) (100)
Secured promissory note issuance costs (20)
Proceeds from secured promissory note 1,500
Net cash provided by (used in) financing activities (16,204) (100) 2,944
Net increase (decrease) in cash and cash equivalents 2,732 (1,223) (1,262)
Cash and cash equivalents at beginning of year 441 1,664 2,926
Cash and cash equivalents at end of year 3,173 441 1,664
Supplemental disclosures of cash flow information:      
Interest paid 54 190 6
Income taxes paid 1,350
Issuance of warrants in connection with secured promissory notes 14
Non-cash investing activities:      
Escrow receivable 5,000
Net unrealized losses, investments in marketable securities $ (78)