Cash Flow

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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($)
$ in Thousands
9 Months Ended
Jun. 30, 2020
Jun. 30, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (1,797) $ (14,176)
Adjustments to reconcile net loss to cash (used in) provided by operating activities:    
Gain on Extingishment of Debt (12,316) 0
Depreciation and amortization 4,102 4,458
Goodwill impairment charge 0 4,300
Non-cash lease expense 1,302 0
Stock Compensation expense 1,290 1,661
Provision for doubtful accounts 1,633 0
Deferred income taxes 100 396
Amortization of debt discount 1,334 634
Interest expense paid with common and preferred stock 1,288 1,224
Paid in kind interest on term loan 701 0
Change in acquisition deposit for working capital guarantee (780) 0
Changes in operating assets and liabilities:    
Accounts receivable 5,503 318
Accounts payable (1,557) 1,390
Accrued compensation 1,139 (25)
Change in other assets, net of change in other liabilities (1,697) (731)
Cash provided by (used in) operating activities 245 (551)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Acquisition of property and equipment (105) (108)
Net cash used in investing activities (105) (108)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Payment on term loan (500) (2,187)
Net proceeds from (payments on) subordinated debt (1,724) 1,893
Payment on preferred stock redemption (2,931) 0
Net proceeds from CARES Act Paycheck Protection Program Loans 19,927 0
Payments on finance leases 0 (37)
Net proceeds from (payments on) revolving credit (2,390) 1,940
Net cash provided by financing activities 12,382 1,609
Net change in cash 12,522 950
Cash at beginning of period   4,055
Cash at end of period 16,577 4,163
SUPPLEMENTAL CASH FLOW INFORMATION:    
Cash paid for interest 7,375 7,373
Cash paid for taxes 29 75
Non-cash investing and financing activities    
Conversion of 8% subordinated notes to common stock by related parties 1,000 0
Conversion of 10% subordinated notes to common stock 4,185 0
Conversion of series C preferred stock to common by related parties 93 0
Redemption of series B preferred stock 24,441 0
Redemption of series C preferred stock 34 0
Conversion of series B convertible preferred stock to common stock 0 1,238
Beneficial conversion features on subordinated debt 0 841
Accrued fees on term loan 4,978 0
Right-of-use assets, net of deferred rent 5,981 0
Operating lease liability 6,422 0
Acquisition of equipment with finance lease $ 37 $ 102

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