Annual report pursuant to Section 13 and 15(d)

STATEMENTS OF CASH FLOWS

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STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Cash flows from operating activities:      
Net income (loss) $ 5,135 $ (11,279) $ (2,403)
Adjustments to reconcile net income (loss) to net cash used in operating activities:      
Depreciation and amortization 377 358 353
Non-cash (gain) loss on changes in fair value of warrants (825) 4,512 (1,083)
Stock-based compensation 1,039 1,026 543
Changes in operating assets and liabilities:      
Receivables 626 (245) 850
Prepaid expenses and other assets (63) (29) 59
Accounts payable (1,143) (250) (710)
Other accrued liabilities 1,147 112 172
Deferred contract revenue 0 (1,671) (3,646)
Net cash provided by (used in) operating activities 6,293 (7,466) (5,865)
Cash flows from investing activities:      
Purchases of furniture and equipment (171) (133) (18)
Net cash used in investing activities (171) (133) (18)
Cash flows from financing activities:      
Proceeds from issuance of common stock from the exercise of stock options 27 0 0
Proceeds from issuance of common stock and warrants, net of issuance costs 0 0 9,591
Issuance of common stock from the vesting of restricted shares 0 (14) (36)
Net cash provided by (used in) financing activities 27 (14) 9,555
Net increase (decrease) in cash 6,149 (7,613) 3,672
Cash and cash equivalents at beginning of period 7,857 15,470 11,798
Cash and cash equivalents at end of period $ 14,006 7,857 $ 15,470
Supplemental disclosure of cash flow information      
Fair value of warrants at the time of reclassification to equity   $ 8,646