10-Q
RLJ ENTERTAINMENT, INC. filed this Form 10-Q on 11/09/2017
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RLJ ENTERTAINMENT, INC.

CONSOLIDATED STATEMENTS OF CASH FLOWS

(Unaudited)

Nine Months Ended September 30, 2017 and 2016

 

 

 

Nine Months Ended September 30,

 

(In thousands)

 

2017

 

 

2016

 

CASH FLOWS FROM OPERATING ACTIVITIES:

 

 

 

 

 

 

 

 

Net loss

 

$

(9,943

)

 

$

(17,609

)

Adjustments to reconcile net loss to net cash (used in) provided by operating activities:

 

 

 

 

 

 

 

 

Equity earnings of affiliate

 

 

(3,143

)

 

 

(2,198

)

Content amortization and royalties

 

 

21,867

 

 

 

23,152

 

Depreciation and amortization

 

 

2,751

 

 

 

3,167

 

Foreign currency exchange (gain) loss

 

 

(640

)

 

 

900

 

Fair value adjustment of stock warrant and other derivative liabilities

 

 

3,647

 

 

 

3,406

 

Non-cash interest expense

 

 

5,446

 

 

 

1,512

 

Gain on extinguishment of debt

 

 

(470

)

 

 

 

Stock-based compensation expense

 

 

1,208

 

 

 

922

 

Loss on disposal of fixed assets

 

 

 

 

 

187

 

Dividends received from affiliate

 

 

1,243

 

 

 

1,701

 

Changes in assets and liabilities:

 

 

 

 

 

 

 

 

Accounts receivable, net

 

 

6,547

 

 

 

13,205

 

Inventories, net

 

 

1,001

 

 

 

4,034

 

Investments in content, net

 

 

(38,997

)

 

 

(24,779

)

Prepaid expenses and other assets

 

 

24

 

 

 

695

 

Accounts payable and accrued liabilities

 

 

(460

)

 

 

(8,010

)

Deferred revenue

 

 

397

 

 

 

(36

)

Net cash (used in) provided by operating activities

 

 

(9,522

)

 

 

249

 

CASH FLOWS FROM INVESTING ACTIVITIES:

 

 

 

 

 

 

 

 

Capital expenditures

 

 

(1,199

)

 

 

(1,006

)

Net cash used in investing activities

 

 

(1,199

)

 

 

(1,006

)

CASH FLOWS FROM FINANCING ACTIVITIES:

 

 

 

 

 

 

 

 

Proceeds received from AMC to amend debt

 

 

18,000

 

 

 

 

Proceeds from exercise of warrants

 

 

159

 

 

 

 

Dividend payments to preferred stockholders

 

 

(350

)

 

 

 

Repayment of debt

 

 

(8,618

)

 

 

(2,100

)

Payment of debt modification costs

 

 

(101

)

 

 

 

Net cash provided by (used in) financing activities

 

 

9,090

 

 

 

(2,100

)

Effect of exchange rate changes on cash

 

 

384

 

 

 

(199

)

NET DECREASE IN CASH:

 

 

(1,247

)

 

 

(3,056

)

Cash at beginning of period

 

 

7,834

 

 

 

4,530

 

Cash at end of period

 

$

6,587

 

 

$

1,474

 

 

See accompanying notes to consolidated financial statements.

 

 

8


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