e & p spending is expected to increase over the near-term as crude oil prices are forecasted to remain more stable . in 2018 , mexico 's new president has announced that the mexican government will not offer any new license rounds for the next three years while assuring that existing contracts will not be cancelled . in the medium-term , global crude oil demand is expected to continue growing while the oil & gas industry is predicted to face a supply crunch due to unsustainably low levels of exploration investments . as a result , e & p companies are expected to increase their focus on offshore oil exploration to replenish reserves . given the historical volatility of crude prices , there is a continued risk that if prices do not continue to improve , or if they start to decline again due to high levels of crude oil production , there is a potential for slowing growth rates in various global regions and or for ongoing supply/demand imbalances . if commodity prices do not continue to improve , or if they start to deteriorate again , demand for our services and products could decline . impact to our business while our 2018 revenues were down compared to 2017 , we are seeing signs of increasing activity in our business , primarily due to the strategic shift we made to move our offerings closer to the reservoir and the associated continued success of our 3-d multi-client programs as well as clients starting to renew interest in conventional reserve replacement and offshore exploration . historically , our revenue and ebitda generation is lower in the first part of the year as customers tend to set budgets in the first quarter , firm up plans through the year , and spend excess budget in the fourth quarter . investments in our multi-client data library are dependent upon the timing of our new venture projects and the availability of underwriting by our customers . we continue to maintain high standards for underwriting new projects . our asset light strategy enables us to scale our business to market conditions avoiding significant fixed costs and maintaining flexibility to manage the timing and amount of our capital expenditures . in our e & p technology & services segment , our new venture revenues experienced significant declines compared to 2017. in the current disciplined spending environment , many clients wait to purchase data associated with a license round until a formal public announcement has been made by the government . delays in license round announcements can materially impact the timing of sales in areas where our new venture programs are underway . our under performance was driven by the continued delay of the panama license round announcement , the three-year moratorium on new upstream licensing in mexico and the continued focus on cash preservation within e & p companies restricting exploration spending . imaging services revenues increased as a result of an increase in proprietary ocean bottom nodal imaging projects . our data library sales increased in 2018 compared to 2017 due to sales of the recently completed phase of the mexico and brazil reimaging programs , along with sales of 2-d data libraries in libya . we invested $ 28.3 million in our multi-client data library during 2018 , approximately $ 4.6 million and $ 13.4 million more compared to 2017 and 2016 , respectively . at december 31 , 2018 , our e & p technology & services segment backlog , which consists of commitments for ( i ) data processing work , ( ii ) new venture projects ( both multi-client and proprietary ) by our ventures group underwritten by our customers and ( iii ) e & p advisors projects , decreased 44 % to $ 21.9 million , compared with $ 39.2 million at december 31 , 2017 . the majority of our backlog relates to our 3-d multi-client reimaging programs offshore brazil and our proprietary imaging services and e & p advisors work . we anticipate that the majority of our backlog will be recognized as revenue over the first half of 2019. within the operations optimization segment , the increase in optimization software & services revenues was due to continued increase in sales of our gator ocean bottom command and control system . devices revenues continue to be impacted by reduced towed streamer seismic contractor activity and cash preservation focus . we have continued to evolve our strategy for our ocean bottom integrated technologies segment consistent with our asset light business model . the remaining elements of our next generation ocean bottom nodal system , 4sea , will be commercialized in 2019. we are offering 4sea components more broadly to the growing number of obs service providers under recurring revenue commercial strategies that will enable us to share in the value our technology delivers . we may also license the right to manufacture and use the fully integrated system to a service provider on a value-based pricing model , such as a royalty stream . such licensing would be recognized through the relevant segment , either e & p technology & services or operations optimization . while not our primary route to market , we continue to evaluate acquisition projects on a case-by-case basis that meet our long-term risk and return thresholds . in 2018 , we recognized a write down of $ 36.6 million for our cable-based ocean bottom acquisition technologies . we continue to see significant long-term potential for our technologies to improve obs safety , efficiency and data quality , and we expect demand for obs surveys to continue increasing . 35 it is our view that technologies that add a competitive advantage through improved imaging , lower costs , higher productivity , or enhanced safety will continue to be valued in our marketplace . story_separator_special_tag million of available borrowing capacity under the credit facility . our cash requirements include working capital requirements and cash required for our debt service payments , multi-client seismic data acquisition activities and capital expenditures . as of december 31 , 2018 , we had working capital of $ 20.1 million . working capital requirements are primarily driven by our investment in our ( i ) multi-client data library ( $ 28.3 million in 2018 ) and royalty payments for multi-client sales . also , our headcount has traditionally been a significant driver of our working capital needs . as a significant portion of our business is involved in the planning , processing and interpretation of seismic data , one of our largest investments is in our employees , which involves cash expenditures for their salaries , bonuses , payroll taxes and related compensation expenses , typically in advance of related revenue billings and collections . our working capital requirements may change from time to time depending upon many factors , including our operating results and adjustments in our operating plan in response to industry conditions , competition and unexpected events . in recent years , our primary sources of funds have been cash flows generated from operations , existing cash balances , debt and equity issuances and borrowings under our revolving credit facility . 42 public equity offering and retirement of debt on february 21 , 2018 , we announced our successful completion of a public equity offering to begin de-levering our balance sheet . we issued and sold 1,820,000 shares of common stock at a public offering price of $ 27.50 per share , and warrants to purchase an additional 1,820,000 shares of our common stock . the net proceeds from this offering were $ 47.0 million , including transaction expenses . a portion of the net proceeds were used to retire our $ 28.5 million third lien notes in march 2018 ( several weeks before their maturity date ) . the warrants have an exercise price of $ 33.60 per share , are immediately exercisable and expire on march 21 , 2019. equity investment program to encourage our executive officers and other key employees to purchase our common stock and further align their interests with those of our stockholders , the board authorized and approved an equity investment program pursuant to which certain of our executive officers and other key employees are permitted , but not obligated , to purchase unregistered shares of our common stock directly from the company at market prices . in connection with any such purchases , the committee authorized and approved , on december 13 , 2017 , a grant by us to such purchasing executive officers and key employees of a certain number of shares of restricted stock . on december 13 , 2017 , the committee also authorized and approved to grant to certain executive officers and key employees a certain number of shares of restricted stock in connection with certain purchases of shares of our common stock in the open market . on december 14 , 2017 , we sold , in a private placement under section 4 ( a ) ( 2 ) of the securities act of 1933 , as amended , 120,567 shares of our common stock at $ 13.05 per share ( the closing price of the our common stock on the nyse on such date ) and executive officers and other key employees purchased 219,346 shares in the open market . revolving credit facility on august 16 , 2018 , we and our material u.s. subsidiaries ; gx technology corporation , ion exploration products ( u.s.a ) and i/o marine systems , inc. ( the “ material u.s. subsidiaries ” ) , along with gx geoscience corporation , s. de r.l . de c.v. , a limited liability company ( sociedad de responsibilidad limitada de capital variable ) organized under the laws of mexico , and a subsidiary of the company ( the “ mexican subsidiary , ” ) ( the material u.s. subsidiaries and the mexican subsidiary are collectively , the “ subsidiary borrowers ” , together with ion geophysical corporation are the “ borrowers ” ) , the financial institutions party thereto , as lenders , and pnc bank , national association ( “ pnc ” ) , as agent for the lenders , entered into that certain third amendment and joinder to revolving credit and security agreement ( the “ third amendment ” ) , amending the revolving credit and security agreement , dated as of august 22 , 2014 ( as previously amended by the first amendment to revolving credit and security agreement , dated as of august 4 , 2015 and the second amendment to revolving credit and security agreement , dated as of april 28 , 2016 , the “ credit agreement ” ) . the credit agreement , as amended by the first amendment , the second amendment and the third amendment is herein called , the “ credit facility ” ) . the third amendment amends the credit agreement to , among other things : extend the maturity date of the credit facility by approximately four years ( from august 22 , 2019 to august 16 , 2023 ) , subject to the retirement or extension of the maturity date of the second lien notes , as defined below , which mature on december 15 , 2021 ; increase the maximum revolver amount by $ 10 million ( from $ 40 million to $ 50 million ) ; increase the borrowing base percentage of the net orderly liquidation value as it relates to the multi-client data library ( not to exceed $ 28.5 million , up from the previous maximum of $ 15 million for the multi-client data library component ) ; include the eligible billed receivables of the mexican subsidiary up to a maximum of $ 5 million in the borrowing base calculation and joins the

net cash provided by operating activities was $ 7.1 million for 2018 , compared to $ 27.6 million for 2017 . the decrease was driven by lower revenue activity compared to 2017 , payment of $ 3.75 million damages payment for the westerngeco lawsuit , reductions in accounts payable and accrued expenses and increase in our combined accounts and unbilled receivable balance . net cash provided by operating activities was $ 27.6 million for 2017 , compared to $ 1.0 million for 2016. the increase in net cash provided by operations was due to a significant increase in new venture revenues in 2017 , compared to 2016 and due to $ 20.8 million damages payment in 2016 for the westerngeco lawsuit , which was partially offset by increases in unbilled receivables as of december 31 , 2017. cash flow used in investing activities net cash flow used in investing activities was $ 29.8 million for 2018 , compared to $ 24.8 million for 2017 . the principal uses of cash in our investing activities during 2018 were $ 28.3 million of investments in our multi-client data library and $ 1.5 million of investments in property , plant and equipment . net cash flow used in investing activities was $ 24.8 million for 2017 , compared to $ 13.6 million for 2016. the principal uses of cash in our investing activities during 2017 were $ 23.7 million of investments in our multi-client data library and $ 1.1 million of investments in property , plant and equipment . cash flow used in financing activities net cash flow provided by financing activities was $ 3.8 million for 2018 , compared to $ 3.6 million of net cash flow used in financing activities for 2017 . the net cash flow provided by financing activities during 2018 was primarily related to $ 47.0 million of net cash received from our public equity offering , partially offset by $ 30.8 million of payments on long-term debt including equipment capital leases and a $ 10.0 million repayment of our credit facility .


 Write a concise suspicious activity report of the following text delimited by triple backquotes. Return your response as a formal report which covers the key points highlighting the location,dates,entity names and account holder information in chronological order of the text.
     ```net cash provided by operating activities was $ 7.1 million for 2018 , compared to $ 27.6 million for 2017 . the decrease was driven by lower revenue activity compared to 2017 , payment of $ 3.75 million damages payment for the westerngeco lawsuit , reductions in accounts payable and accrued expenses and increase in our combined accounts and unbilled receivable balance . net cash provided by operating activities was $ 27.6 million for 2017 , compared to $ 1.0 million for 2016. the increase in net cash provided by operations was due to a significant increase in new venture revenues in 2017 , compared to 2016 and due to $ 20.8 million damages payment in 2016 for the westerngeco lawsuit , which was partially offset by increases in unbilled receivables as of december 31 , 2017. cash flow used in investing activities net cash flow used in investing activities was $ 29.8 million for 2018 , compared to $ 24.8 million for 2017 . the principal uses of cash in our investing activities during 2018 were $ 28.3 million of investments in our multi-client data library and $ 1.5 million of investments in property , plant and equipment . net cash flow used in investing activities was $ 24.8 million for 2017 , compared to $ 13.6 million for 2016. the principal uses of cash in our investing activities during 2017 were $ 23.7 million of investments in our multi-client data library and $ 1.1 million of investments in property , plant and equipment . cash flow used in financing activities net cash flow provided by financing activities was $ 3.8 million for 2018 , compared to $ 3.6 million of net cash flow used in financing activities for 2017 . the net cash flow provided by financing activities during 2018 was primarily related to $ 47.0 million of net cash received from our public equity offering , partially offset by $ 30.8 million of payments on long-term debt including equipment capital leases and a $ 10.0 million repayment of our credit facility .
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 Suspicious Activity Report : e & p spending is expected to increase over the near-term as crude oil prices are forecasted to remain more stable . in 2018 , mexico 's new president has announced that the mexican government will not offer any new license rounds for the next three years while assuring that existing contracts will not be cancelled . in the medium-term , global crude oil demand is expected to continue growing while the oil & gas industry is predicted to face a supply crunch due to unsustainably low levels of exploration investments . as a result , e & p companies are expected to increase their focus on offshore oil exploration to replenish reserves . given the historical volatility of crude prices , there is a continued risk that if prices do not continue to improve , or if they start to decline again due to high levels of crude oil production , there is a potential for slowing growth rates in various global regions and or for ongoing supply/demand imbalances . if commodity prices do not continue to improve , or if they start to deteriorate again , demand for our services and products could decline . impact to our business while our 2018 revenues were down compared to 2017 , we are seeing signs of increasing activity in our business , primarily due to the strategic shift we made to move our offerings closer to the reservoir and the associated continued success of our 3-d multi-client programs as well as clients starting to renew interest in conventional reserve replacement and offshore exploration . historically , our revenue and ebitda generation is lower in the first part of the year as customers tend to set budgets in the first quarter , firm up plans through the year , and spend excess budget in the fourth quarter . investments in our multi-client data library are dependent upon the timing of our new venture projects and the availability of underwriting by our customers . we continue to maintain high standards for underwriting new projects . our asset light strategy enables us to scale our business to market conditions avoiding significant fixed costs and maintaining flexibility to manage the timing and amount of our capital expenditures . in our e & p technology & services segment , our new venture revenues experienced significant declines compared to 2017. in the current disciplined spending environment , many clients wait to purchase data associated with a license round until a formal public announcement has been made by the government . delays in license round announcements can materially impact the timing of sales in areas where our new venture programs are underway . our under performance was driven by the continued delay of the panama license round announcement , the three-year moratorium on new upstream licensing in mexico and the continued focus on cash preservation within e & p companies restricting exploration spending . imaging services revenues increased as a result of an increase in proprietary ocean bottom nodal imaging projects . our data library sales increased in 2018 compared to 2017 due to sales of the recently completed phase of the mexico and brazil reimaging programs , along with sales of 2-d data libraries in libya . we invested $ 28.3 million in our multi-client data library during 2018 , approximately $ 4.6 million and $ 13.4 million more compared to 2017 and 2016 , respectively . at december 31 , 2018 , our e & p technology & services segment backlog , which consists of commitments for ( i ) data processing work , ( ii ) new venture projects ( both multi-client and proprietary ) by our ventures group underwritten by our customers and ( iii ) e & p advisors projects , decreased 44 % to $ 21.9 million , compared with $ 39.2 million at december 31 , 2017 . the majority of our backlog relates to our 3-d multi-client reimaging programs offshore brazil and our proprietary imaging services and e & p advisors work . we anticipate that the majority of our backlog will be recognized as revenue over the first half of 2019. within the operations optimization segment , the increase in optimization software & services revenues was due to continued increase in sales of our gator ocean bottom command and control system . devices revenues continue to be impacted by reduced towed streamer seismic contractor activity and cash preservation focus . we have continued to evolve our strategy for our ocean bottom integrated technologies segment consistent with our asset light business model . the remaining elements of our next generation ocean bottom nodal system , 4sea , will be commercialized in 2019. we are offering 4sea components more broadly to the growing number of obs service providers under recurring revenue commercial strategies that will enable us to share in the value our technology delivers . we may also license the right to manufacture and use the fully integrated system to a service provider on a value-based pricing model , such as a royalty stream . such licensing would be recognized through the relevant segment , either e & p technology & services or operations optimization . while not our primary route to market , we continue to evaluate acquisition projects on a case-by-case basis that meet our long-term risk and return thresholds . in 2018 , we recognized a write down of $ 36.6 million for our cable-based ocean bottom acquisition technologies . we continue to see significant long-term potential for our technologies to improve obs safety , efficiency and data quality , and we expect demand for obs surveys to continue increasing . 35 it is our view that technologies that add a competitive advantage through improved imaging , lower costs , higher productivity , or enhanced safety will continue to be valued in our marketplace . story_separator_special_tag million of available borrowing capacity under the credit facility . our cash requirements include working capital requirements and cash required for our debt service payments , multi-client seismic data acquisition activities and capital expenditures . as of december 31 , 2018 , we had working capital of $ 20.1 million . working capital requirements are primarily driven by our investment in our ( i ) multi-client data library ( $ 28.3 million in 2018 ) and royalty payments for multi-client sales . also , our headcount has traditionally been a significant driver of our working capital needs . as a significant portion of our business is involved in the planning , processing and interpretation of seismic data , one of our largest investments is in our employees , which involves cash expenditures for their salaries , bonuses , payroll taxes and related compensation expenses , typically in advance of related revenue billings and collections . our working capital requirements may change from time to time depending upon many factors , including our operating results and adjustments in our operating plan in response to industry conditions , competition and unexpected events . in recent years , our primary sources of funds have been cash flows generated from operations , existing cash balances , debt and equity issuances and borrowings under our revolving credit facility . 42 public equity offering and retirement of debt on february 21 , 2018 , we announced our successful completion of a public equity offering to begin de-levering our balance sheet . we issued and sold 1,820,000 shares of common stock at a public offering price of $ 27.50 per share , and warrants to purchase an additional 1,820,000 shares of our common stock . the net proceeds from this offering were $ 47.0 million , including transaction expenses . a portion of the net proceeds were used to retire our $ 28.5 million third lien notes in march 2018 ( several weeks before their maturity date ) . the warrants have an exercise price of $ 33.60 per share , are immediately exercisable and expire on march 21 , 2019. equity investment program to encourage our executive officers and other key employees to purchase our common stock and further align their interests with those of our stockholders , the board authorized and approved an equity investment program pursuant to which certain of our executive officers and other key employees are permitted , but not obligated , to purchase unregistered shares of our common stock directly from the company at market prices . in connection with any such purchases , the committee authorized and approved , on december 13 , 2017 , a grant by us to such purchasing executive officers and key employees of a certain number of shares of restricted stock . on december 13 , 2017 , the committee also authorized and approved to grant to certain executive officers and key employees a certain number of shares of restricted stock in connection with certain purchases of shares of our common stock in the open market . on december 14 , 2017 , we sold , in a private placement under section 4 ( a ) ( 2 ) of the securities act of 1933 , as amended , 120,567 shares of our common stock at $ 13.05 per share ( the closing price of the our common stock on the nyse on such date ) and executive officers and other key employees purchased 219,346 shares in the open market . revolving credit facility on august 16 , 2018 , we and our material u.s. subsidiaries ; gx technology corporation , ion exploration products ( u.s.a ) and i/o marine systems , inc. ( the “ material u.s. subsidiaries ” ) , along with gx geoscience corporation , s. de r.l . de c.v. , a limited liability company ( sociedad de responsibilidad limitada de capital variable ) organized under the laws of mexico , and a subsidiary of the company ( the “ mexican subsidiary , ” ) ( the material u.s. subsidiaries and the mexican subsidiary are collectively , the “ subsidiary borrowers ” , together with ion geophysical corporation are the “ borrowers ” ) , the financial institutions party thereto , as lenders , and pnc bank , national association ( “ pnc ” ) , as agent for the lenders , entered into that certain third amendment and joinder to revolving credit and security agreement ( the “ third amendment ” ) , amending the revolving credit and security agreement , dated as of august 22 , 2014 ( as previously amended by the first amendment to revolving credit and security agreement , dated as of august 4 , 2015 and the second amendment to revolving credit and security agreement , dated as of april 28 , 2016 , the “ credit agreement ” ) . the credit agreement , as amended by the first amendment , the second amendment and the third amendment is herein called , the “ credit facility ” ) . the third amendment amends the credit agreement to , among other things : extend the maturity date of the credit facility by approximately four years ( from august 22 , 2019 to august 16 , 2023 ) , subject to the retirement or extension of the maturity date of the second lien notes , as defined below , which mature on december 15 , 2021 ; increase the maximum revolver amount by $ 10 million ( from $ 40 million to $ 50 million ) ; increase the borrowing base percentage of the net orderly liquidation value as it relates to the multi-client data library ( not to exceed $ 28.5 million , up from the previous maximum of $ 15 million for the multi-client data library component ) ; include the eligible billed receivables of the mexican subsidiary up to a maximum of $ 5 million in the borrowing base calculation and joins the

