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, 2015
Dec. 31, 2014
Dec. 31, 2013
Cash flows from operating activities:      
Net (loss) income $ (3,600) $ (7,834) $ 405
Adjustments to reconcile net (loss) to net cash provided by (used in) operating activities:      
Depreciation 367 277 $ 243
Gain on the sale of fixet assets $ (9) (6)
Impairment charge 3,577
Share-based compensation expense $ 135 1,044 $ 269
Changes in operating assets and liabilities:      
Accounts receivable 1,836 (517) 90
Inventory (1,039) (771) (470)
Prepaid expenses and other assets (480) 397 886
Accounts payable 323 (344) (285)
Accrued advertising and other allowances (1,177) 838 87
Other operating assets and liabilities, net 147 123 (88)
Net cash provided by (used in) operating activities (3,497) (3,216) 1,137
Cash flows from investing activities:      
Capital expenditures (718) (312) $ (442)
Proceeds from the sale of fixet assets 9 6
Net cash flows used in investing activities $ (709) $ (306) $ (442)
Cash flows from financing activities:      
Proceeds from the exercise of stock options 27
Proceeds from issuance of common stock $ 1,564 $ 4,910 444
Payment of long term obligation (100) $ (100) $ (100)
Secured promissory note issuance costs (20)
Proceeds from secured promissory note 1,500
Net cash provided by financing activities 2,944 $ 4,810 $ 371
Net increase (decrease) in cash and cash equivalents (1,262) 1,288 1,066
Cash and cash equivalents at beginning of year 2,926 1,638 572
Cash and cash equivalents at end of year $ 1,664 2,926 $ 1,638
Supplemental disclosures of cash flow information:      
Treasury stock acquired pursuant to a settlement agreement 5,105
Interest paid $ 6 10 $ 13
Common stock issued, in lieu of cash, as payment for service $ 393