Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

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Condensed Consolidated Statements of Cash Flows - USD ($)
 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
OPERATING ACTIVITIES    
Net (loss) income $ (532,000) $ 1,481,000
Adjustments to reconcile net (loss) income to net cash provided by operating activities:    
Provision for doubtful accounts 6,000 (109,000)
Depreciation 5,395,000 5,090,000
Loss on disposal of and reserve adjustments for medical equipment 1,101,000 640,000
Gain on sale of medical equipment (883,000) (375,000)
Amortization of intangible assets 1,421,000 2,139,000
Amortization of deferred debt issuance costs 37,000 114,000
Stock-based compensation 2,170,000 3,007,000
Deferred income taxes (435,000) (658,000)
Changes in assets - (increase)/decrease:    
Accounts receivable (924,000) (329,000)
Inventories (937,000) (647,000)
Other current assets 599,000 138,000
Other assets (19,000) (70,000)
Changes in liabilities - (decrease)/increase:    
Accounts payable and other liabilities 2,496,000 (1,607,000)
NET CASH PROVIDED BY OPERATING ACTIVITIES 9,495,000 8,814,000
INVESTING ACTIVITIES    
Acquisition of business 0 (7,490,000)
Purchase of medical equipment (6,669,000) (4,943,000)
Purchase of property and equipment (336,000) (334,000)
Proceeds from sale of medical equipment, property and equipment 2,081,000 1,503,000
NET CASH USED IN INVESTING ACTIVITIES (4,924,000) (11,264,000)
FINANCING ACTIVITIES    
Principal payments on long-term debt (20,665,000) (53,982,000)
Cash proceeds from long-term debt 21,218,000 47,913,000
Debt issuance costs 0 (386,000)
Cash payment of contingent consideration (750,000) 0
Common stock repurchased to satisfy statutory withholding on employee stock-based compensation plans (639,000) (1,141,000)
Common stock repurchased as part of share repurchase program (4,356,000) 0
Cash proceeds from stock plans 746,000 562,000
NET CASH USED IN FINANCING ACTIVITIES (4,446,000) (7,034,000)
Net change in cash and cash equivalents 125,000 (9,484,000)
Cash and cash equivalents, beginning of period 186,000 9,648,000
Cash and cash equivalents, end of period $ 311,000 $ 164,000