Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

v3.7.0.1
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2017
Dec. 31, 2016
Current assets    
Cash and cash equivalents $ 685 $ 7,406
Restricted cash 113 113
Accounts receivable, net 102,509 113,972
Costs and estimated earnings in excess of billings on uncompleted contracts 30,119 31,959
Other current assets 3,941 1,733
Total current assets 137,367 155,183
Property and equipment, net of accumulated depreciation of $5.9 million and $2.6 million at June 30, 2017 and December 31, 2016, respectively 17,438 18,541
Intangible assets, net 15,783 17,807
Goodwill 10,488 10,488
Deferred tax asset 4,947 4,268
Other assets 527 588
Total assets 186,550 206,875
Current liabilities    
Current portion of long-term debt 5,390 4,476
Accounts payable, including retainage 45,833 57,034
Billings in excess of costs and estimated earnings on uncompleted contracts 30,203 39,190
Accrued expenses and other current liabilities 28,819 26,029
Total current liabilities 110,245 126,729
Long-term debt 18,110 21,507
Other long-term liabilities 914 817
Total liabilities 129,269 149,053
Commitments and contingencies
Redeemable convertible preferred stock, net, par value $0.0001, 1,000,000 shares authorized, 400,000 issued and outstanding at June 30, 2017 and December 31, 2016, respectively ($10,780 and $10,365 redemption value at June 30, 2017 and December 31, 2016, respectively) 10,860 10,374
STOCKHOLDERS’ EQUITY    
Common stock, $.0001 par value; 100,000,000 shares authorized, 7,454,602 issued and outstanding at June 30, 2017 and 7,454,491 at December 31, 2016 1 1
Additional paid-in capital 55,162 55,162
Accumulated deficit (8,742) (7,715)
Total stockholders’ equity 46,421 47,448
Total liabilities and stockholders’ equity $ 186,550 $ 206,875