v3.10.0.1
Unaudited Condensed Consolidated Statements of Cash Flows
$ in Thousands
9 Months Ended
Sep. 30, 2018
USD ($)
Sep. 30, 2017
USD ($)
Cash flows from operating activities:    
Net (loss) income $ (11,367) $ 2,719
Adjustment to reconcile net (loss) income to net cash provided by operating activities:    
Depreciation and amortization 12,679 11,254
Equity-based compensation 1,063 726
Amortization of debt issuance costs 606 538
Amortization of debt discount 446 373
Equity in loss and impairment of unconsolidated entities 857 221
Provision for deferred income taxes (991) 0
Change in fair value of warrant liability 3,458 1,455
Change in fair value of contingent consideration 0 (410)
Loss on debt extinguishment 541 1,753
Payment in kind interest 3,623 3,795
Change in operating assets and liabilities, net of business acquisitions:    
Accounts receivable 7,357 (7,387)
Settlement assets 4,434 938
Prepaid expenses and other current assets 412 3,657
Notes receivable 3,661 (1,315)
Accounts payable, accrued expenses and accrued residual commissions 434 9,499
Settlement obligations 1,330 2,382
Customer deposits (3,055) (1,206)
Other assets and liabilities (652) (13)
Net cash provided by operating activities 24,836 28,979
Cash flows from investing activities:    
Acquisition of businesses (7,508) 0
Additions to property and equipment (8,406) (4,866)
Acquisitions of merchant portfolios (26,431) (2,484)
Net cash used in investing activities (42,345) (7,350)
Cash flows from financing activities:    
Proceeds from issuance of long term debt 67,113 276,290
Repayment of long term debt (2,011) (90,196)
Debt issuance costs (322) (4,570)
Distributions to members (7,075) (3,399)
Redemption of membership interest (74,093) (203,000)
Recapitalization proceeds 49,389 0
Founders shares redemptions (2,118) 0
Redemption of warrants (12,701) 0
Recapitalization costs (9,355) 0
Net cash provided by (used in) financing activities 8,827 (24,875)
Change in cash and restricted cash:    
Net decrease in cash and restricted cash (8,682) (3,246)
Cash and restricted cash at the beginning of year 44,159 41,702
Cash and restricted cash at September 30 35,477 38,456
Supplemental cash flow information:    
Cash paid for interest 16,537 13,708
Recognition of initial net deferred income tax asset 47,478 0
Non-cash investing and financing activities:    
Notes receivable from sellers used as partial consideration for business acquisitions 560 0
Purchase of property and equipment through accounts payable 119 115
Cash consideration payable for business acquisition 184  
Recapitalization costs remaining in accounts payable 349  
Common stock issued for business acquisitions 5,000 0
Common unit repurchase obligation $ 0 $ 9,190

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