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
Jun. 30, 2018
Jun. 30, 2017
Cash flows from operating activities:    
Consolidated net loss $ (16,108) $ (16,139)
Adjustments to reconcile consolidated net loss to net cash used in operating activities:    
Share-based compensation 770 1,010
Amortization of intangible assets 341 350
Depreciation 1,368 1,326
Bad debt expense 61 0
Changes in operating assets and liabilities    
Accounts receivable - trade 39 309
Accounts receivable - unbilled 0 122
Work in process 26 (4)
Prepaid expenses and other current assets 8 (19)
Security deposit 0 2
Accounts payable 49 (257)
Accrued expenses 124 4
Deferred revenue (158) 133
Net cash used in operating activities (13,480) (13,163)
Cash flows from investing activities:    
Additions to intangible assets (145) (270)
Purchases of fixed assets (934) (1,323)
Net cash used in investing activities (1,079) (1,593)
Cash flows from financing activities:    
Proceeds from sales of preferred and common stock 21,621 0
Costs to raise capital (1,175) 0
Proceeds from additional paid-in capital - preferred stock 1,050 0
Proceeds from capital contribution 1,093 0
Payment of capital lease obligation (183) (170)
Net cash provided by (used in) financing activities 22,406 (170)
Effect of exchange rate changes (1) 0
Net increase (decrease) in cash 7,846 (14,926)
Cash - beginning of year 8,088 23,014
Cash - end of year 15,934 8,088
Schedule of non-cash activities:    
Unpaid intangible assets included in accounts payable 2 7
Intangible assets included in accounts payable in prior period, paid in current period 7 0
Unpaid fixed assets included in accounts payable 84 87
Fixed assets included in accounts payable in prior period, paid in current period 87 71
Issuance of preferred stock for acquisition of additional interest in subsidiary 0 12,499
Supplemental cash flow information:    
Cash paid during the year for interest $ 1,917 $ 1,930