Unwired Planet, Inc. (UPIP) today announced financial results for the
fourth quarter and fiscal end 2013.
“This past quarter we continued to build on our licensing efforts and
have made significant progress in expanding the number of discussions
underway,” said Eric Vetter, president and chief administrative officer
of Unwired Planet. “In addition, at the end of June we executed a
capital raise and in July we completed the transformation of our board
of directors, both intended to support our long term IP strategy. With
these changes in place, we believe we have fully transitioned the
company to a licensing business.”
Simultaneously, Unwired Planet today announced the initiation of its
Rights Offering, which will commence on Monday, August 19, 2013.
Shareholders of record as of 5:00 p.m., New York time, on July 8, 2013,
will receive the Rights Offering prospectus and related materials from
the company’s information agent, Georgeson. Under the Rights Offering,
each shareholder of record has the option to purchase their
proportionate share of the approximately 7.5M shares being offered at
$1.66 per share. The Rights Offering period will be open until 5:00
p.m., New York time, on Monday, September 9, 2013, unless we extend such
period.
For more information on recent developments at Unwired Planet, please
see our blog update posted today that can be found on the company’s
website.
On a GAAP basis, net loss for the fourth fiscal quarter ended June 30,
2013 was $8.7 million, or $0.09 per share, compared with a net loss of
$12.2 million, or $0.13 per share, in the prior quarter, and with a net
income of $31.8 million, or $0.36 per diluted share, in the June quarter
of the preceding year. Net loss for the fiscal year ended June 30, 2013
was $47.6 million, or $0.53 per share, compared with a net income of
$14.6 million, or $0.17 per diluted share in the previous year.
On a non-GAAP basis, net loss for the fourth fiscal quarter ended June
30, 2013 was $6.5 million, or $0.07 per share, compared with a net loss
of $5.8 million, or $0.06 per share, in the prior quarter, and with a
net loss of $6.3 million, or $0.07 per share, in the June quarter of the
preceding year. Net loss for the fiscal year ended June 30, 2013 was
$26.4 million, or $0.29 per share, compared with a net loss of $4.3
million, or $0.05 per share in the previous year. Non-GAAP net loss
excludes restructuring, stock-based compensation, strategic costs,
discontinued operations, and the tax impact of these items.
A reconciliation between net income (loss) and net income (loss) per
share on a GAAP basis and a non-GAAP basis is provided below in a table
immediately following the Condensed Consolidated Statements of
Operations.
Conference Call Information
Unwired Planet has scheduled a conference call for 5:00 p.m. eastern
daylight time today to discuss its financial results for its fourth
quarter and fiscal end 2013. Interested parties may access the
conference call over the Internet through the company's website at www.unwiredplanet.com
or by telephone at 877-941-1429 or 480-629-9857 (international). A
replay of the conference call will be available for three weeks
(September 5, 2013), beginning at 5:00 p.m. PT on August 15, 2013 by
calling 800-406-7325. The replay can be accessed internationally by
calling 303-590-3030, access code: 4631190#.
A live webcast of the call, together with supplemental financial
information, will also be available on the Investors section of Unwired
Planet’s website at http://www.unwiredplant.com/investors.
A replay will be available on the website for at least three months.
About Unwired Planet
Unwired Planet, Inc. (NASDAQ: UPIP) is the inventor of the Mobile
Internet and a premier intellectual property company focused exclusively
on the mobile industry. The company's patent portfolio of more than
2,400 issued US and foreign patents includes technologies that allow
mobile devices to connect to the Internet and enable mobile
communications. The portfolio spans 2G, 3G, and 4G technologies, as well
as cloud-based mobile applications and services. Unwired
Planet's portfolio includes patents related to key mobile technologies,
including baseband mobile communications, mobile browsers, mobile
advertising, push technology, maps and location based services, mobile
application stores, social networking, mobile gaming, and mobile
search. Unwired Planet is headquartered in Reno, Nevada.
Cautionary Note Regarding Forward Looking Statements
Any statements in this press release with respect to future events or
expectations, including statements regarding the Company’s licensing
activities and expectations regarding enhancing shareholder value are
forward-looking statements within the meaning of Section 21E of the
Securities Exchange Act of 1943 and Section 27A of the Securities Act of
1933. These forward-looking statements are subject to many risks and
uncertainties that could cause actual results to differ materially from
those projected. Notwithstanding changes that may occur with respect to
matters relating to any forward looking statements, Unwired Planet
assumes no obligation to update the forward-looking statements included
in this press release. For a detailed discussion of these and other
factors that may cause these forward looking statements not to come
true, please refer to the risk factors discussed in Unwired Planet’s
filings with the U.S. Securities and Exchange Commission ("SEC"),
including the company's Annual Report on Form 10-K for the fiscal year
ended June 30, 2012. These documents are available through the SEC's
Electronic Data Gathering Analysis and Retrieval system (EDGAR) at www.sec.gov
or from Unwired Planet’s website at www.unwiredplanet.com.
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UNWIRED PLANET, INC.
|
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CONDENSED CONSOLIDATED BALANCE SHEETS-UNAUDITED
|
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(In thousands)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
June 30,
|
|
|
June 30,
|
|
|
|
|
|
|
|
|
2013
|
|
|
2012
|
|
Assets
|
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|
|
|
|
|
|
|
|
|
Current Assets:
|
|
|
|
|
|
|
|
|
|
Cash and cash equivalents
|
|
|
$
|
47,613
|
|
|
$
|
39,709
|
|
|
|
Short-term investments
|
|
|
|
10,793
|
|
|
|
43,860
|
|
|
|
Restricted cash and investments
|
|
|
|
17,251
|
|
|
|
-
|
|
|
|
Accounts receivable, net
|
|
|
|
88
|
|
|
|
-
|
|
|
|
Prepaid and other current assets
|
|
|
|
420
|
|
|
|
3,960
|
|
|
|
|
Total current assets
|
|
|
|
76,165
|
|
|
|
87,529
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Property and equipment, net
|
|
|
|
212
|
|
|
|
452
|
|
|
Long-term investments
|
|
|
|
-
|
|
|
|
9,423
|
|
|
Deposits and other assets
|
|
|
|
1,861
|
|
|
|
89
|
|
|
|
|
Total assets
|
|
|
$
|
78,238
|
|
|
$
|
97,493
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Liabilities and Stockholders' Equity
|
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|
|
|
|
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|
|
Current Liabilities:
|
|
|
|
|
|
|
|
|
|
Accounts payable
|
|
|
$
|
2,317
|
|
|
$
|
6,088
|
|
|
|
Accrued liabilities
|
|
|
|
3,876
|
|
|
|
4,161
|
|
|
|
Accrued legal
|
|
|
|
3,686
|
|
|
|
3,958
|
|
|
|
Accrued restructuring costs
|
|
|
|
594
|
|
|
|
12,871
|
|
|
|
|
Total current liabilities
|
|
|
|
10,473
|
|
|
|
27,078
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Accrued restructuring costs, less current portion
|
|
|
|
259
|
|
|
|
827
|
|
|
Long term note payable
|
|
|
|
22,096
|
|
|
|
-
|
|
|
Other long term payables
|
|
|
|
1,485
|
|
|
|
959
|
|
|
|
|
Total liabilities
|
|
|
|
34,313
|
|
|
|
28,864
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Stockholders' equity
|
|
|
|
43,925
|
|
|
|
68,629
|
|
|
|
|
Total liabilities and stockholders' equity
|
|
|
$
|
78,238
|
|
|
$
|
97,493
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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|
|
UNWIRED PLANET, INC.
|
|
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS-UNAUDITED
|
|
(In thousands, except per share data)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended
|
|
Twelve Months Ended
|
|
|
|
|
|
June 30,
|
|
March 31,
|
|
June 30,
|
|
June 30,
|
|
June 30,
|
|
|
|
|
|
2013
|
|
2013
|
|
2012
|
|
2013
|
|
2012
|
|
Revenues:
|
|
|
|
|
|
|
|
|
|
|
|
|
Licensing Revenue
|
|
$
|
106
|
|
|
$
|
30
|
|
|
$
|
4
|
|
|
$
|
142
|
|
|
$
|
15,050
|
|
|
|
Fee share
|
|
|
(21
|
)
|
|
|
-
|
|
|
|
-
|
|
|
|
(21
|
)
|
|
|
-
|
|
|
|
|
Net Revenue
|
|
|
85
|
|
|
|
30
|
|
|
|
4
|
|
|
|
121
|
|
|
|
15,050
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating Expenses:
|
|
|
|
|
|
|
|
|
|
|
|
|
Sales and marketing expenses
|
|
$
|
27
|
|
|
$
|
4
|
|
|
|
239
|
|
|
|
109
|
|
|
|
614
|
|
|
|
Patent licensing expenses
|
|
|
4,705
|
|
|
|
2,861
|
|
|
|
4,623
|
|
|
|
16,281
|
|
|
|
13,089
|
|
|
|
General and administrative
|
|
|
4,960
|
|
|
|
8,350
|
|
|
|
2,527
|
|
|
|
21,451
|
|
|
|
7,651
|
|
|
|
Restructuring and other related costs
|
|
|
(77
|
)
|
|
|
42
|
|
|
|
190
|
|
|
|
1,771
|
|
|
|
2,666
|
|
|
|
|
Total operating expenses
|
|
|
9,615
|
|
|
|
11,257
|
|
|
|
7,579
|
|
|
|
39,612
|
|
|
|
24,020
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating loss from continuing operations
|
|
|
(9,530
|
)
|
|
|
(11,227
|
)
|
|
|
(7,575
|
)
|
|
|
(39,491
|
)
|
|
|
(8,970
|
)
|
|
Interest and other income (expense), net
|
|
|
808
|
|
|
|
(1,043
|
)
|
|
|
(258
|
)
|
|
|
(146
|
)
|
|
|
(469
|
)
|
|
|
|
Net loss from continuing operations
|
|
|
(8,722
|
)
|
|
|
(12,270
|
)
|
|
|
(7,833
|
)
|
|
|
(39,637
|
)
|
|
|
(9,439
|
)
|
|
Income taxes
|
|
|
42
|
|
|
|
-
|
|
|
|
(3,790
|
)
|
|
|
42
|
|
|
|
(1,289
|
)
|
|
|
|
Net loss from continuing operations
|
|
|
(8,764
|
)
|
|
|
(12,270
|
)
|
|
|
(4,043
|
)
|
|
|
(39,679
|
)
|
|
|
(8,150
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gain (loss) on sale of discontinued operation
|
|
|
-
|
|
|
|
600
|
|
|
|
45,133
|
|
|
|
(150
|
)
|
|
|
50,294
|
|
|
Discontinued operations, net
|
|
|
55
|
|
|
|
(514
|
)
|
|
|
(9,237
|
)
|
|
|
(7,784
|
)
|
|
|
(27,577
|
)
|
|
Net Income (loss)
|
|
$
|
(8,709
|
)
|
|
$
|
(12,184
|
)
|
|
$
|
31,853
|
|
|
$
|
(47,613
|
)
|
|
$
|
14,567
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic and diluted net income (loss) per share from:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Continuing operations
|
|
$
|
(0.10
|
)
|
|
$
|
(0.13
|
)
|
|
$
|
(0.05
|
)
|
|
$
|
(0.44
|
)
|
|
$
|
(0.09
|
)
|
|
|
|
Discontinued operations
|
|
$
|
-
|
|
|
$
|
-
|
|
|
|
0.41
|
|
|
|
(0.09
|
)
|
|
|
0.26
|
|
|
|
|
Net income (loss) per share
|
|
$
|
(0.09
|
)
|
|
$
|
(0.13
|
)
|
|
$
|
0.36
|
|
|
$
|
(0.53
|
)
|
|
$
|
0.17
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Shares used in basic and diluted net income (loss) per share
|
|
|
92,078
|
|
|
|
91,018
|
|
|
|
88,200
|
|
|
|
90,843
|
|
|
|
86,354
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Shares used in diluted net income (loss) per share
|
|
|
92,078
|
|
|
|
91,018
|
|
|
|
88,200
|
|
|
|
90,843
|
|
|
|
86,354
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Stock-based compensation by category:
|
|
|
|
|
|
|
|
|
|
|
|
|
Sales and marketing
|
|
$
|
-
|
|
|
$
|
-
|
|
|
$
|
15
|
|
|
$
|
1
|
|
|
$
|
15
|
|
|
|
Patent initiative
|
|
|
261
|
|
|
|
-
|
|
|
$
|
43
|
|
|
|
261
|
|
|
$
|
43
|
|
|
|
General and administrative
|
|
|
1,742
|
|
|
|
4,413
|
|
|
$
|
613
|
|
|
|
6,888
|
|
|
$
|
1,774
|
|
|
|
Discontinued operations
|
|
|
-
|
|
|
|
62
|
|
|
$
|
3,554
|
|
|
|
624
|
|
|
$
|
6,573
|
|
|
|
|
|
|
$
|
2,003
|
|
|
$
|
4,475
|
|
|
$
|
4,225
|
|
|
$
|
7,774
|
|
|
$
|
8,405
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
UNWIRED PLANET, INC.
|
|
RECONCILIATION OF GAAP NET INCOME (LOSS) TO NON-GAAP NET INCOME
(LOSS)
|
|
(In thousands, except per share data)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended
|
|
Twelve Months Ended
|
|
|
|
|
June 30,
|
|
March 31,
|
|
June 30,
|
|
June 30,
|
|
June 30,
|
|
|
|
|
2013
|
|
2013
|
|
2012
|
|
2013
|
|
2012
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Reconciliation between GAAP and Non-GAAP net loss:
|
|
|
|
|
|
|
|
|
|
|
|
Net income (loss)
|
|
$
|
(8,709
|
)
|
|
$
|
(12,184
|
)
|
|
$
|
31,853
|
|
|
$
|
(47,613
|
)
|
|
$
|
14,567
|
|
|
Exclude:
|
|
|
|
|
|
|
|
|
|
|
|
|
Restructuring costs
|
|
|
(77
|
)
|
|
|
42
|
|
|
|
190
|
|
|
|
1,771
|
|
|
|
2,666
|
|
|
|
Stock-based compensation
|
|
|
2,003
|
|
|
|
4,413
|
|
|
|
671
|
|
|
|
7,150
|
|
|
|
1,832
|
|
|
|
Strategic costs
|
|
|
-
|
|
|
|
897
|
|
|
|
676
|
|
|
|
2,877
|
|
|
|
676
|
|
|
|
Post strategic costs
|
|
|
377
|
|
|
|
1,073
|
|
|
|
-
|
|
|
|
1,450
|
|
|
|
-
|
|
|
|
Discontinued operations, net of tax
|
|
|
(55
|
)
|
|
|
(86
|
)
|
|
|
(35,896
|
)
|
|
|
7,934
|
|
|
|
(22,717
|
)
|
|
|
Tax impact related to unusual transactions
|
|
|
-
|
|
|
|
-
|
|
|
|
(3,790
|
)
|
|
|
42
|
|
|
|
(1,289
|
)
|
|
Non-GAAP net loss
|
|
$
|
(6,461
|
)
|
|
$
|
(5,845
|
)
|
|
$
|
(6,296
|
)
|
|
$
|
(26,389
|
)
|
|
$
|
(4,265
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
GAAP net loss per share
|
|
$
|
(0.09
|
)
|
|
$
|
(0.13
|
)
|
|
$
|
0.36
|
|
|
$
|
(0.52
|
)
|
|
$
|
0.17
|
|
|
Exclude:
|
|
|
|
|
|
|
|
|
|
|
|
|
Restructuring costs
|
|
$
|
-
|
|
|
$
|
-
|
|
|
$
|
-
|
|
|
$
|
0.02
|
|
|
$
|
0.03
|
|
|
|
Stock-based compensation
|
|
$
|
0.02
|
|
|
$
|
0.05
|
|
|
$
|
0.01
|
|
|
$
|
0.08
|
|
|
$
|
0.02
|
|
|
|
Strategic costs
|
|
$
|
-
|
|
|
$
|
0.01
|
|
|
$
|
0.01
|
|
|
$
|
0.03
|
|
|
$
|
0.01
|
|
|
|
Post strategic costs
|
|
$
|
-
|
|
|
$
|
0.01
|
|
|
$
|
-
|
|
|
$
|
0.02
|
|
|
|
|
|
Discontinued operations, net of tax
|
|
$
|
-
|
|
|
$
|
-
|
|
|
$
|
(0.41
|
)
|
|
$
|
0.08
|
|
|
$
|
(0.26
|
)
|
|
|
Tax impact related to unusual transactions
|
|
$
|
-
|
|
|
$
|
-
|
|
|
$
|
(0.04
|
)
|
|
$
|
-
|
|
|
$
|
(0.02
|
)
|
|
Non-GAAP net loss per share
|
|
$
|
(0.07
|
)
|
|
$
|
(0.06
|
)
|
|
$
|
(0.07
|
)
|
|
$
|
(0.29
|
)
|
|
$
|
(0.05
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Shares used in computing net loss per share:
|
|
|
|
|
|
|
|
|
|
|
|
|
GAAP
|
|
|
92,078
|
|
|
|
91,018
|
|
|
|
88,200
|
|
|
|
90,843
|
|
|
|
86,354
|
|
|
|
Non-GAAP
|
|
|
92,078
|
|
|
|
91,018
|
|
|
|
88,200
|
|
|
|
90,843
|
|
|
|
86,354
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-GAAP Measure
The Company’s stated results include the non-GAAP measures: non-GAAP net
income (loss) and non-GAAP net income (loss) per share. These non-GAAP
measures exclude certain items that generally are non-recurring events
or are non-cash items that many other companies exclude, in order to
compare Unwired Planet with other companies, such as stock-based
compensation. These non-GAAP measures also exclude items which
management does not consider in evaluating Unwired Planet’s on-going
business, such as restructuring costs and discontinued operations.
Unwired Planet considers non-GAAP net income (loss) to be an important
metric because it provides a useful measure of the operational
performance of Unwired Planet and is used by Unwired Planet's management
for that purpose. In addition, investors often use measures such as
these to evaluate the financial performance of a company. These non-GAAP
measures are presented for supplemental informational purposes only for
understanding Unwired Planet's operating results. These non-GAAP results
should not be considered a substitute for financial information
presented in accordance with generally accepted accounting principles,
and may be different from non-GAAP measures used by other companies.
|
|
|
|
|
|
|
|
|
|
|
|
|
UNWIRED PLANET, INC.
|
|
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS-UNAUDITED
|
|
(in thousands)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended
|
|
Twelve Months Ended
|
|
|
|
|
|
|
June 30,
|
|
March 31,
|
|
June 30,
|
|
June 30,
|
|
June 30,
|
|
|
|
|
|
|
2013
|
|
2013
|
|
2012
|
|
2013
|
|
2012
|
|
Operating activities:
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income (loss)
|
|
$
|
(8,709
|
)
|
|
$
|
(12,184
|
)
|
|
$
|
31,853
|
|
|
$
|
(47,613
|
)
|
|
$
|
14,567
|
|
|
|
Loss/(gain) on sale of discontinued operation
|
|
|
-
|
|
|
|
(600
|
)
|
|
|
(45,133
|
)
|
|
|
150
|
|
|
|
(50,294
|
)
|
|
|
Reconciling items:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Depreciation, amortization of intangibles and stock-based
compensation
|
|
|
2,023
|
|
|
|
4,495
|
|
|
|
4,626
|
|
|
|
8,057
|
|
|
|
12,416
|
|
|
|
|
Non-cash restructuring charges
|
|
|
12
|
|
|
|
42
|
|
|
|
131
|
|
|
|
225
|
|
|
|
691
|
|
|
|
|
Non-cash tax benefits
|
|
|
-
|
|
|
|
-
|
|
|
|
(3,790
|
)
|
|
|
-
|
|
|
|
(1,289
|
)
|
|
|
|
Accelerated depreciation on restructured property and equipment
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
226
|
|
|
|
-
|
|
|
|
|
Provision for doubtful accounts
|
|
|
-
|
|
|
|
-
|
|
|
|
38
|
|
|
|
-
|
|
|
|
447
|
|
|
|
|
Other non-cash items, net
|
|
|
98
|
|
|
|
1,241
|
|
|
|
534
|
|
|
|
1,877
|
|
|
|
1,313
|
|
|
|
|
Changes in operating assets and liabilities
|
|
|
(1,277
|
)
|
|
|
(25,243
|
)
|
|
|
(8,676
|
)
|
|
|
(32,867
|
)
|
|
|
(21,479
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net cash used for operating activities
|
|
|
(7,853
|
)
|
|
|
(32,249
|
)
|
|
|
(20,417
|
)
|
|
|
(69,945
|
)
|
|
|
(43,628
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Investing activities:
|
|
|
|
|
|
|
|
|
|
|
|
|
Purchases of property and equipment, net
|
|
|
(5
|
)
|
|
|
(111
|
)
|
|
|
-
|
|
|
|
(269
|
)
|
|
|
(523
|
)
|
|
|
Payment of settlement related to discontinued operation
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
(1,893
|
)
|
|
|
(12,000
|
)
|
|
|
Sale of discontinued operation, net
|
|
|
-
|
|
|
|
600
|
|
|
|
46,238
|
|
|
|
600
|
|
|
|
51,399
|
|
|
|
Proceeds from sales and maturities of investments, net
|
|
|
10,778
|
|
|
|
15,133
|
|
|
|
(15,031
|
)
|
|
|
41,428
|
|
|
|
(4,709
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net cash provided by investing activities
|
|
|
10,773
|
|
|
|
15,622
|
|
|
|
31,207
|
|
|
|
39,866
|
|
|
|
34,167
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Financing activities:
|
|
|
|
|
|
|
|
|
|
|
|
|
Net proceeds from Note Payable
|
|
|
22,066
|
|
|
|
-
|
|
|
|
-
|
|
|
|
22,066
|
|
|
|
-
|
|
|
|
Net Proceeds from Registered Direct
|
|
|
14,785
|
|
|
|
-
|
|
|
|
-
|
|
|
|
14,785
|
|
|
|
-
|
|
|
|
Treasury stock purchased
|
|
|
(575
|
)
|
|
|
-
|
|
|
|
-
|
|
|
|
(575
|
)
|
|
|
-
|
|
|
|
Net proceeds from issuance of common stock
|
|
|
175
|
|
|
|
254
|
|
|
|
1,093
|
|
|
|
1,707
|
|
|
|
1,904
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash provided by financing activities
|
|
|
36,451
|
|
|
|
254
|
|
|
|
1,093
|
|
|
|
37,983
|
|
|
|
1,904
|
|
|
Net increase (decrease) in cash and cash equivalents
|
|
|
39,371
|
|
|
|
(16,373
|
)
|
|
|
11,883
|
|
|
|
7,904
|
|
|
|
(7,557
|
)
|
|
Cash and cash equivalents at beginning of period
|
|
|
8,242
|
|
|
|
24,615
|
|
|
|
27,826
|
|
|
|
39,709
|
|
|
|
47,266
|
|
|
Cash and cash equivalents at end of period, including discontinued
operations
|
|
$
|
47,613
|
|
|
$
|
8,242
|
|
|
$
|
39,709
|
|
|
$
|
47,613
|
|
|
$
|
39,709
|
|
Copyright Business Wire 2013