Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Operations (Unaudited)

v3.8.0.1
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2017
Mar. 31, 2017
 [1]
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Revenues, net of discounts $ 79,083   $ 3,828 $ 134,866 $ 9,084
Cost of revenues 63,553   2,403 108,608 5,649
Gross Profit 15,530   1,425 26,258 3,435
Operating Expenses          
Compensation expense 5,312   605 10,668 1,706
Selling, general and administrative expenses 4,064   548 8,662 1,920
Amortization of intangible assets 768   1,358
Travel expense 128   43 419 210
Occupancy costs 222   201 615 559
Loss on Sale of Asset   376
Transaction expenses 246   1,666
Total Operating Expenses 10,740   1,397 23,764 4,395
Operating Income (Loss) 4,790   28 2,494 (960)
Other (Expense) Income          
Interest income expense (1,824)   (490) (4,351) (1,452)
Amortization of deferred financing costs and debt discount (1,332)   (109) (3,663) (328)
Change in warrant fair market valuation 2,033   854
Other Income (Expense) (7)   (147) (52) (101)
Incentive expenses   (35)
Extinguishment loss   (314) (314)
Financing Costs (139)   (702)
Total Other (Expense) Income 1,269   (1,060) (7,914) (2,230)
Income (Loss) before provision for local income taxes 3,521   (1,032) (5,420) (3,190)
Provision for local income taxes 972   1,093
Net Income (Loss) 2,549   (1,032) (6,513) (3,190)
Preferred stock dividends (20)   (20) (60) (60)
Net Income (Loss) attributable to common shareholders $ 2,529   $ (1,052) $ (6,573) $ (3,250)
Income (Loss) per common share:          
Basic $ 0.47   $ (0.43) $ (1.40) $ (1.34)
Diluted $ 0.46   $ (0.43) $ (1.40) $ (1.34)
Weighted average number of common shares outstanding          
Basic 5,367,208   2,418,024 4,699,369 2,418,024
Diluted 5,547,743   2,418,024 4,699,369 2,418,024
Predecessor [Member]          
Revenues, net of discounts   $ 42,089 $ 77,644   $ 307,984
Cost of revenues   33,789 67,201   261,042
Gross Profit   8,300 10,443   46,942
Operating Expenses          
Compensation expense   5,671 4,478   13,645
Selling, general and administrative expenses   2,009 4,452   17,199
Amortization of intangible assets   98   261
Travel expense   22 98   261
Occupancy costs   160 121   323
Loss on Sale of Asset    
Transaction expenses    
Total Operating Expenses   7,862 9,149   31,428
Operating Income (Loss)   438 1,294   15,514
Other (Expense) Income          
Interest income expense    
Amortization of deferred financing costs and debt discount    
Change in warrant fair market valuation    
Other Income (Expense)   56 30   74
Incentive expenses    
Extinguishment loss    
Financing Costs    
Total Other (Expense) Income   56 30   74
Income (Loss) before provision for local income taxes   494 1,324   15,588
Provision for local income taxes   240 265   1,065
Net Income (Loss)   254 1,059   14,523
Preferred stock dividends    
Net Income (Loss) attributable to common shareholders   $ 254 $ 1,059   $ 14,523
[1] Activity for the period April 1, 2017 through April 20, 2017 was not material.