# EDGAR Filing Document

**Accession Number:** 0000880984
**File Stem:** 0001641172-25-022516
**Filing Date:** 2025-8
**Character Count:** 22940
**Document Hash:** 123a2ff1ae814db125457f594e0b1c1b
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001641172-25-022516.hdr.sgml**: 20250807

**ACCESSION NUMBER**: 0001641172-25-022516

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 15

**CONFORMED PERIOD OF REPORT**: 20250807

**ITEM INFORMATION**: Results of Operations and Financial Condition

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20250807

**DATE AS OF CHANGE**: 20250807

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** ACORN ENERGY, INC.
- **CENTRAL INDEX KEY:** 0000880984
- **STANDARD INDUSTRIAL CLASSIFICATION:** SERVICES-ENGINEERING SERVICES [8711]
- **ORGANIZATION NAME:** 07 Trade & Services
- **EIN:** 222786081
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-33886
- **FILM NUMBER:** 251191783

**BUSINESS ADDRESS:**
- **STREET 1:** 1000 N WEST STREET, SUITE 1200
- **CITY:** WILMINGTON
- **STATE:** DE
- **ZIP:** 19801
- **BUSINESS PHONE:** 302-656-1708

**MAIL ADDRESS:**
- **STREET 1:** 1000 N WEST STREET, SUITE 1200
- **CITY:** WILMINGTON
- **STATE:** DE
- **ZIP:** 19801

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** ACORN FACTOR, INC.
- **DATE OF NAME CHANGE:** 20060920

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** DATA SYSTEMS & SOFTWARE INC
- **DATE OF NAME CHANGE:** 19931019

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** DEFENSE SOFTWARE & SYSTEMS INC
- **DATE OF NAME CHANGE:** 19930328

?xml version='1.0' encoding='ASCII'?

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM 8-K**

**CURRENT REPORT**

**PURSUANT TO SECTION 13 OR 15(d) OF THE**

**SECURITIES EXCHANGE ACT OF 1934**

**Date of Report (Date of earliest event reported) <u>August 7, 2025</u>**

**ACORN ENERGY, INC.**

**(Exact name of Registrant as Specified in its Charter)**

<u>Delaware</u> <u>001-33886</u> <u>22-2786081</u> <br> (State or Other Jurisdiction (Commission (IRS Employer <br> of Incorporation) file Number) Identification No.)

<u>1000 N West St., Suite 1200, Wilmington, Delaware </u> <u>19801</u> <br> (Address of Principal Executive Offices) (Zip Code)

Registrant's telephone number, including area code <u>(770) 209-0012</u>

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-2 under the Exchange Act (17 CFR 240.14a-2)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

---

| | |
|:---|:---|
| Title of each class | Name of each exchange on which registered |
| Common Stock, $0.01 par value per share ACFN | The Nasdaq Stock Market LLC |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

**Item 2.02 Results of Operations and Financial Condition.**

On August 7, 2025, the Registrant issued a press release announcing its 2025 second quarter results. The press release is attached as Exhibit 99.1 hereto.

**Item 9.01 Financial Statements and Exhibits.**

**(d) Exhibits**

99.1 [Press release of Acorn Energy, Inc., dated August 7, 2025](ex99-1.htm)

104.1 Cover
 Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized on this 7th day of August, 2025.

---

| | |
|:---|:---|
| ACORN ENERGY, INC. | ACORN ENERGY, INC. |
| By: | */s/ Tracy S. Clifford* |
| Name: | Tracy S. Clifford |
| Title: | Chief Financial Officer |

---

## Exhibit 99.1

**Exhibit 99.1**

---

| | |
|:---|:---|
| ![](ex99-1_001.jpg) | ![](ex99-1_002.jpg) |

---

**Press Release & Investor Call** 

**Remote Monitoring and Control Provider Acorn's Q2'25 EPS of $0.28, Up 155% on 55% Revenue Growth; Investor Call Today at 11 a.m. ET**

**Wilmington, DE – August 7, 2025 –** <u>Acorn Energy, Inc.</u> (Nasdaq: ACFN), a provider of remote monitoring and control solutions for backup generators, gas pipelines and other critical infrastructure assets, announced results for its second quarter ended June 30, 2025 (Q2'25). Acorn will hold an investor call today at 11 a.m. ET (details below).

**Summary Financial Results**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| ($ in thousands) | **Q2'25** | **Q2'24** | **Change** | **6M'25** | **6M'24** | **Change** |
| Monitoring revenue | $1320 | $1110 | +18.9% | $2589 | $2212 | +17.0% |
| Hardware revenue | $2205 | $1165 | +89.3% | $4034 | $2195 | +83.8% |
| **Total revenue <sup>(1)</sup>** | $**3525** | $**2275** | **+54.9%**  | $**6623** | $**4407** | **+50.3%**  |
| Gross margin | 74.9% | 73.2% | +170bps | 75.0% | 73.9% | +110bps |
| Net income to stockholders <sup>(2)</sup> | $720 | $271 | +165.7% | $1184 | $336 | +252.4% |
| **Net income per diluted share** <sup>(2)</sup>** | $**0.28** | $**0.11** | **+154.5%** | $**0.47** | $**0.13** | **+261.5%** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) All
 of Acorn's revenue is derived from its 99%-owned operating subsidiary, OmniMetrix<sup>TM</sup>,
 LLC.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) Net
 income includes federal income tax expense in Q2'25 and 6M'25 vs. the prior-year
 periods, which did not.

**CEO Commentary**

Jan Loeb, Acorn's CEO, said, "Our Q2 results reflect the strength of our technology and solutions as well as the operating leverage of our high-margin business model. Our business is fueled by hardware sales that create recurring revenue streams from annual monitoring contracts, 90% or more of which typically renew each year. Given the modest incremental investment required to scale our business, we expect approximately 50% of each incremental revenue dollar to drop to our operating income line for the foreseeable future.

"Our results continue to benefit from an estimated $5.4M contract to provide monitoring equipment plus an initial year of monitoring services for 5,000 -10,000 cell tower backup generators for a national cellular phone provider which we refer to as the Material Contract. The monitoring hardware rollout is progressing well, and we expect to complete all hardware deliveries by the end of 2025. We recognize hardware revenue upon delivery and customer acceptance, while monitoring revenue is deferred and then amortized over 12 months. The contract contributed $1.4M of revenue in Q2'25 and a total of $4.1M since inception in Q4'24, approximately 95% of which relates to hardware sales thus far.

"Several factors are expected to drive demand for backup power generation and our remote monitoring services in the coming years. Most importantly, growing energy demand is taxing our aging grid infrastructure, resulting in increasing reliability challenges for electricity access. In addition, a growing incidence of extreme weather events and natural disasters that disrupt electricity access for days, weeks and sometimes months, further underscores the critical importance of reliable backup power. These factors are contributing to increasing awareness, interest and demand for backup power and remote monitoring solutions that ensure their proper functioning across commercial, industrial, and residential applications.

"As a pioneer and technology leader in remote monitoring solutions, OmniMetrix is primed to scale our base of monitored endpoints in step with the expected growth in standby generator deployments. At the same time, we continue to invest in developing new products as well as enhancing our industry-leading solutions to deliver the greatest possible value to our growing base of customers.

"We've been working diligently to ensure the success of our large cell tower rollout, demonstrating our market leadership and creating momentum for expanded collaborations and other large-scale deployment opportunities. Our internal sales team focuses on large commercial and industrial customer opportunities, and we access the residential market through our network of approximately 600 generator dealers in North America. We are also seeking to forge strategic relationships with one or more OEMs to extend our market reach. Additionally, we continue to evaluate possible M&A opportunities that are closely aligned with our business model and have the potential to be meaningfully accretive. These initiatives require discipline, patience, and persistence and, therefore, it's not possible to predict timing or outcomes, but we want you to be aware of these areas of focus.

"Subsequent to quarter-end, we completed an uplisting to the Nasdaq Capital Market, a significant milestone for our company. The Nasdaq listing should benefit our shares and shareholders by enhancing our visibility, attracting a broader base of investors and improving trading liquidity of our shares thereby supporting growth through potential M&A opportunities."

**Financial Review**

Q2'25 revenue rose 55% to $3,525,000 vs. Q2'24, reflecting an 89% increase in hardware revenue and a 19% increase in monitoring revenue. Hardware growth was principally due to $1,338,000 in sales of monitoring equipment related to our Material Contract. Growth in monitoring revenue was driven by an increase in total monitored units in Q2'25 as compared to the year-ago period. For the six months ended June 30, 2025, revenue grew 50% to $6,623,000 versus the prior-year period, due to the same factors.

Q2'25 gross profit grew 58% to $2,639,000 vs. Q2'24, principally reflecting higher revenue and a Q2'25 gross margin of 75%.

Operating expenses increased 20% to $1,692,000 in Q2'25 vs. $1,407,000 in Q2'24, due to a $246,000 increase in selling, general and administrative (SG&A) expenses and a $39,000 increase in research and development (R&D) expenses. However, operating expenses decreased to 48% of total revenue in Q2'25 from 62% of total revenue in Q2'24, as revenue growth outpaced expense increases. The increase in SG&A expenses reflects a $100,000 increase in commission expense related to the Material Contract, a $48,000 increase in personnel expenses due to staff additions and compensation increases, a $39,000 increase in technology fees and expenses, as well as a $59,000 increase in tax and audit professional fees and other corporate/public company expenses. Higher R&D expenses reflect the hiring of a senior-level engineer in November 2024 and salary increases, as well as increased investment in next-generation monitoring products, as well as the exploration of new products and product lines.

Reflecting revenue growth and operating leverage, Q2'25 net income attributable to Acorn stockholders improved to $720,000, or $0.28 per diluted share, from $271,000, or $0.11 per diluted share, in Q2'24. Net income for the first six months of 2025 increased to $1,184,000, or $0.47 per diluted share, as compared to $336,000, or $0.13 per diluted share, in the prior-year period. As of Q4'24, Acorn began reporting on a fully taxable basis though its earnings are shielded from federal income taxes on a cash basis due to its substantial net operating loss carryforwards. Income tax expense was $242,000, or $0.10 per share in Q2'25 vs. zero in Q2'24. Likewise, income tax expense was $396,000, or $0.16 per share, in the first six months of 2025, compared to $25,000, or $0.01 per share, in the prior-year period.

**Liquidity and Cash Flow**

Excluding deferred revenue of $3,155,000 and deferred cost of goods sold of $223,000, which have no impact on future cash flows, net working capital improved to $5,661,000 at June 30, 2025 from $4,230,000 at December 31, 2024. Acorn's cash position increased to $3,253,000 at the close of Q2'25 versus $2,591,000 at the close of Q1'25 and $2,326,000 at year-end 2024.

Through the first six months of 2025 Acorn generated $900,000 of cash from operating activities, used $21,000 in investing activities and received proceeds of $48,000 from the exercise of Company stock options. The resulting net increase in cash of $927,000 compares to $14,000 generated in the first half of 2024.

**Investor Call Details**

---

| | |
|:---|:---|
| **Date/Time:** | Thursday, August 7<sup>th</sup> at 11:00 a.m. ET |
| **Dial-in Number:** | **1-844-834-0644** or 1-412-317-5190 (Int'l) |
| **Online Replay/Transcript:** | Audio file and call transcript will be posted to the |
|  | Investor section of Acorn's <u>website</u> when available. |
| **Submit Questions via Email:** | <u>acfn@catalyst-ir.com</u> – before or after the call. |

---

**About Acorn** (<u>www.acornenergy.com</u>) and **OmniMetrix<sup>TM</sup>** (<u>www.omnimetrix.net</u>)

Acorn Energy, Inc. owns a 99% equity stake in OmniMetrix, a pioneer and leader in Internet of Things (IoT) wireless remote monitoring and control solutions for stand-by power generators, gas pipelines, air compressors and other industrial equipment. OmniMetrix serves tens of thousands of commercial and residential customers, including over 25 Fortune/Global 500 companies, supporting cell towers, manufacturing plants, medical facilities, data centers, retail stores, public transportation systems, energy distribution and federal, state, and municipal government facilities and residential backup generators.

OmniMetrix's proven, cost-effective solutions make critical systems more reliable and also enable automated "demand response" electric grid support via enrolled backup generators.

**Safe Harbor Statement**

This press release includes forward-looking statements, which are subject to risks and uncertainties. There are no assurances that Acorn will be successful in growing its business, increasing its revenue, increasing profitability, or maximizing the value of its operating company and other assets. A complete discussion of the risks and uncertainties that may affect Acorn Energy's business, including the business of its subsidiary, is included in "Risk Factors" in the Company's most recent Annual Report on Form 10-K as filed by the Company with the Securities and Exchange Commission.

**Follow us**

X (formerly Twitter): <u>@Acorn_IR</u> and <u>@OmniMetrix</u> <br> StockTwits: <u>@Acorn_Energy</u>

**Investor Relations Contacts**

Catalyst IR

William Jones, 267-987-2082

David Collins, 212-924-9800

<u>acfn@catalyst-ir.com</u>

**ACORN ENERGY, INC. AND SUBSIDIARIES**

**CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS**

**(UNAUDITED) (IN THOUSANDS, EXCEPT PER SHARE DATA)**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Six months ended**<br> **June 30,** | **Six months ended**<br> **June 30,** | **Three months ended**<br> **June 30,** | **Three months ended**<br> **June 30,** |
|  | **2025** | **2024** | **2025** | **2024** |
| Revenue | $6623 | $4407 | $3525 | $2275 |
| COGS | 1658 | 1151 | 886 | 610 |
| &nbsp;&nbsp;&nbsp;Gross profit | 4965 | 3256 | 2639 | 1665 |
| Operating expenses: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Research and development (R&D) expenses | 556 | 464 | 265 | 226 |
| &nbsp;&nbsp;&nbsp;Selling, general and administrative (SG&A) expenses | 2858 | 2456 | 1427 | 1181 |
| &nbsp;&nbsp;&nbsp;Total operating expenses | 3414 | 2920 | 1692 | 1407 |
| Operating income | 1551 | 336 | 947 | 258 |
| &nbsp;&nbsp;&nbsp;Interest income, net | 51 | 33 | 27 | 18 |
| Income before income taxes | 1602 | 369 | 974 | 276 |
| &nbsp;&nbsp;&nbsp;Provision for income taxes | 396 | 25 | 242 |  |
| Net income | 1206 | 344 | 732 | 276 |
| &nbsp;&nbsp;&nbsp;Non-controlling interest share of income | (22) | (8) | (12) | (5) |
| Net income attributable to Acorn Energy, Inc. stockholders | $1184 | $336 | $720 | $271 |
| Net income per share attributable to Acorn Energy, Inc stockholders – basic and diluted |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Basic | $0.48 | $0.14 | $0.29 | $0.11 |
| &nbsp;&nbsp;&nbsp;Diluted | $0.47 | $0.13 | $0.28 | $0.11 |
| &nbsp;&nbsp;&nbsp;Weighted average number of shares outstanding attributable to Acorn Energy, Inc. stockholders – basic and diluted |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Basic | 2492 | 2487 | 2493 | 2487 |
| &nbsp;&nbsp;&nbsp;Diluted | 2534 | 2501 | 2534 | 2507 |

---

**ACORN ENERGY, INC. AND SUBSIDIARIES**

**CONDENSED CONSOLIDATED BALANCE SHEETS**

**(IN THOUSANDS, EXCEPT SHARE AND PER SHARE DATA)**

---

| | | |
|:---|:---|:---|
|  | **As of**<br> **June 30, 2025** | **As of**<br> **December 31, 2024** |
|  | (Unaudited) |  |
| ASSETS |  |  |
| Current assets: |  |  |
| &nbsp;&nbsp;&nbsp;Cash | $3253 | $2326 |
| &nbsp;&nbsp;&nbsp;Accounts receivable, net | 2140 | 1933 |
| &nbsp;&nbsp;&nbsp;Inventory | 953 | 436 |
| &nbsp;&nbsp;&nbsp;Other current assets | 262 | 288 |
| &nbsp;&nbsp;&nbsp;State income tax receivable |  | 10 |
| &nbsp;&nbsp;&nbsp;Deferred cost of goods sold (COGS) | 223 | 406 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total current assets | 6831 | 5399 |
| Property and equipment, net | 447 | 505 |
| Right-of-use assets | 1048 | 84 |
| Deferred COGS | 2 | 70 |
| Other assets | 94 | 103 |
| Deferred tax assets | 4115 | 4435 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total assets | $12537 | $10596 |
| LIABILITIES AND EQUITY |  |  |
| Current liabilities: |  |  |
| &nbsp;&nbsp;&nbsp;Accounts payable | $424 | $297 |
| &nbsp;&nbsp;&nbsp;Accrued expenses | 303 | 290 |
| &nbsp;&nbsp;&nbsp;Deferred revenue | 3155 | 3521 |
| &nbsp;&nbsp;&nbsp;Current operating lease liabilities | 90 | 98 |
| &nbsp;&nbsp;&nbsp;Other current liabilities | 84 | 59 |
| &nbsp;&nbsp;&nbsp;State income tax payable | 46 | 19 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total current liabilities | 4102 | 4284 |
| Long-term liabilities: |  |  |
| &nbsp;&nbsp;&nbsp;Deferred revenue | 514 | 712 |
| &nbsp;&nbsp;&nbsp;Noncurrent operating lease liabilities | 973 |  |
| &nbsp;&nbsp;&nbsp;Other long-term liabilities | 27 | 24 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities | 5616 | 5020 |
| Commitments and contingencies |  |  |
| &nbsp;&nbsp;&nbsp;Equity: |  |  |
| &nbsp;&nbsp;&nbsp;Acorn Energy, Inc. stockholders |  |  |
| Common stock - $0.01 par value per share: Authorized - 42,000,000 shares; issued - 2,549,337 at June 30, 2025 and 2,541,308 at December 31, 2024; outstanding - 2,499,159 at June 30, 2025 and 2,491,130 at December 31, 2024 | 25 | 25 |
| &nbsp;&nbsp;&nbsp;Additional paid-in capital | 103546 | 103405 |
| &nbsp;&nbsp;&nbsp;Accumulated stockholders' deficit | (93670) | (94854) |
| &nbsp;&nbsp;&nbsp;Treasury stock, at cost – 50,178 shares at June 30, 2025 and December 31, 2024 | (3036) | (3036) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Acorn Energy, Inc. stockholders' equity | 6865 | 5540 |
| &nbsp;&nbsp;&nbsp;Non-controlling interests | 56 | 36 |
| &nbsp;&nbsp;&nbsp;Total equity | 6921 | 5576 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities and equity | $12537 | $10596 |

---

**ACORN ENERGY, INC. AND SUBSIDIARIES**

**CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS**

**(UNAUDITED) (IN THOUSANDS)**

---

| | | |
|:---|:---|:---|
|  | **Six months ended June 30,** | **Six months ended June 30,** |
|  | **2025** | **2024** |
| Cash flows provided by operating activities: |  |  |
| &nbsp;&nbsp;&nbsp;Net income | $1206 | $344 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Depreciation and amortization | 56 | 58 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deferred tax expense | 320 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Decrease in the provision for credit loss |  | (7) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Impairment of inventory | 4 | 19 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Non-cash lease expense | 66 | 64 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Stock-based compensation | 93 | 38 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Change in operating assets and liabilities: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Increase) decrease in accounts receivable | (207) | 3 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Increase) decrease in inventory | (521) | 212 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Decrease in deferred COGS | 251 | 451 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Decrease (increase) in other current assets and other assets | 35 | (56) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Decrease in state income tax receivable | 10 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Decrease in deferred revenue | (564) | (1004) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Decrease in operating lease liability | (65) | (71) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Increase in state income tax payable | 27 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Increase (decrease) in accounts payable, accrued expenses, other current liabilities and non-current liabilities | 189 | (10) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net cash provided by operating activities | 900 | 41 |
| Cash flows used in investing activities: |  |  |
| &nbsp;&nbsp;&nbsp;Investments in technology | (9) | (36) |
| &nbsp;&nbsp;&nbsp;Leasehold improvements | (4) |  |
| &nbsp;&nbsp;&nbsp;Patents | (1) |  |
| &nbsp;&nbsp;&nbsp;Purchases of furniture and equipment | (7) | (4) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net cash used in investing activities | (21) | (40) |
| Cash flows provided by financing activities: |  |  |
| &nbsp;&nbsp;&nbsp;Stock option exercise proceeds | 48 | 13 |
| &nbsp;&nbsp;&nbsp;Net cash provided by financing activities | 48 | 13 |
| Net increase in cash | 927 | 14 |
| Cash at the beginning of the period | 2326 | 1449 |
| Cash at the end of the period | $3253 | $1463 |
| Supplemental cash flow information: |  |  |
| Cash paid during the year for: |  |  |
| &nbsp;&nbsp;&nbsp;Interest | $— | $1 |
| &nbsp;&nbsp;&nbsp;Income Taxes | $34 | $2 |
| Non-cash investing and financing activities: |  |  |
| &nbsp;&nbsp;&nbsp;Right-of-use assets | $1025 |  |
| &nbsp;&nbsp;&nbsp;Operating lease liability | 1025 |  |
| &nbsp;&nbsp;&nbsp;Accrued preferred dividends to former CEO of OmniMetrix | $2 | $2 |

---