as the economy slowed during the last half of 2007 and recessionary conditions emerged in 2008 and during much of 2009 , we experienced less demand for our staffing services . during the second half of 2009 , we began to see signs of market stabilization and a modest pick-up in activity levels within certain sales channels and technologies and in 2010 , market conditions continued to strengthen over the course of the year . in 2011 through 2013 , activity levels continued to trend up in most technologies and sales channels . during 2014 and 2015 , we continued to see a steady flow of solid activity in our contract staffing business ; however , tightness in the supply side ( skilled it professionals ) of our business during these years negatively impacted our new assignment successes . solid activity levels in our contract staffing business continued in 2016 and 2017 , however , recruitment challenges remained due to the tightness in the supply of skilled it professionals . as we enter 2018 , we view growth in the job market and an expanding domestic and global economy as positive factors for both our it staffing services and data and analytics businesses . we expect supply side pressures to persist in both of our business segments , particularly continuing within the united states . in addition to tracking general economic conditions in the markets that we service , a large portion of our revenues is generated from a limited number of clients ( see item 1a , the risk factor entitled our revenues are highly concentrated and the loss of a significant client would adversely affect our business and revenues ) . accordingly , our trends and outlook are additionally impacted by the prospects and well-being of these specific clients . this account concentration factor may result in our results of operations deviating from the prevailing economic trends from time to time . 26 within our it staffing segment , a larger portion of our revenues has come from strategic relationships with systems integrators and other staffing organizations . additionally , many large end users of it staffing services are employing msp 's to manage their contractor spending . both of these dynamics may pressure our it staffing gross margins in the future . recent u.s. growth in advanced technologies ( social , cloud , analytics , mobility , automation ) is providing opportunities with our it staffing segment . however , supply side challenges are acute with respect to many of these technologies . recent developments on july 13 , 2017 , we completed our acquisition of the services division of canada-based infotrellis , inc. , a project-based consulting services company with specialized capabilities in data management and analytics . the acquisition is expected to significantly strengthen our capabilities to offer consulting and project-based delivery of digital transformation services . infotrellis , inc. is headquartered in toronto , canada , with offices in austin , texas and a global delivery center in chennai , india . the purchase agreement for the infotrellis acquisition totaled $ 55 million , with $ 35.75 million paid in cash at closing ( which was reduced by working capital adjustments of $ 861,000 ) and $ 19.25 million deferred over the two years after closing . the deferred purchase price is contingent upon the acquired business generating specified ebit ( earnings before interest and taxes ) targets during the first two years following closing . the funding for the transaction consisted of a combination of debt and equity . a new $ 65 million credit facility we established on july 13 , 2017 with pnc bank , n.a . ( pnc ) provided debt financing for the transaction , refinancing of our previously existing debt with pnc and additional borrowing capacity . the equity financing was completed through a $ 6.0 million private placement of newly-issued shares of our common stock to our founders and majority shareholders , ashok trivedi and sunil wadhwani . pursuant to the terms of the share purchase agreements executed in connection with the private placement of these shares , we agreed to sell such shares at a price per share equal to the greater of $ 7.00 or the closing price for our common stock on july 10 , 2017 ( two business days after the july 7 , 2017 announcement of the transaction ) , which was $ 6.35 per share . accordingly , the common stock was sold on july 13 , 2017 at a price per share equal to $ 7.00. the terms of the private placement were negotiated and approved by a special committee of our independent directors , which retained counsel and an independent financial advisor . on july 13 , 2017 and july 19 , 2017 , we filed with the securities and exchange commission current reports on form 8-k providing additional details on this acquisition and the financing arrangements . on september 27 , 2017 , we filed an amendment to our july 19 , 2017 current report on form 8-k solely to include the financial statements and financial information required under item 9.01 of form 8-k , which statements and information were excluded from the original form 8-k in reliance on paragraphs ( a ) ( 4 ) and ( b ) ( 2 ) of item 9.01 of form 8-k. results of operations as described above , since the july 13 , 2017 closing of the infotrellis acquisition , we operate in two reporting segments  data and analytics services ; and it staffing services . story_separator_special_tag asc 805 requires that any excess purchase price over fair value of assets acquired ( including identifiable intangibles ) and liabilities assumed be recognized as goodwill . additionally , any excess fair value of acquired net assets over acquisition consideration results in a bargain purchase gain . prior to recording a gain , the acquiring entity must reassess whether all acquired assets and assumed liabilities have been identified and must perform re-measurements to verify that the consideration paid , assets acquired and liabilities assumed have all been properly valued . the infotrellis financial results are included in the company 's consolidated financial statements from the date of the acquisition of july 13 , 2017. the hudson it financial results are included in the company 's consolidated financial statements from the date of the acquisition of june 15 , 2015. stock-based compensation effective october 1 , 2008 , the company adopted a stock incentive plan ( the plan ) which , as amended , provides that up to 1,400,000 shares of the company 's common stock shall be allocated for issuance to directors , 34 executive management and key personnel . grants under the plan can be made in the form of stock options , stock appreciation rights , performance shares or stock awards . the plan is administered by the compensation committee of the board of directors . stock options are granted at an exercise price equal to the closing share price of the company 's common stock at the grant date and generally vest over a three to five year period . the company accounts for stock-based compensation expense in accordance with asc topic 718  share-based payments  which requires us to measure all share-based payments based on their estimated fair value and recognize compensation expense over the requisite service period . the fair value of our stock options is determined at the date of grant using the black-scholes option pricing model . income taxes the company records an estimated liability for income and other taxes based on what management determines will likely be paid in the various tax jurisdictions in which we operate . management uses its best judgment in the determination of these amounts . however , the liabilities ultimately realized and paid are dependent on various matters , including the resolution of the tax audits in the various affected tax jurisdictions , and may differ from the amounts recorded . an adjustment to the estimated liability would be recorded through income in the period in which it becomes probable that the amount of the actual liability differs from the amount recorded . management determines the company 's income tax provision using the asset and liability method . under this method , deferred income taxes are provided for the temporary differences between the financial reporting basis and the tax basis of the company 's assets and liabilities . the company measures deferred tax assets and liabilities using enacted tax rates in effect for the year in which we expect to recover or settle the temporary differences . the effect of a change in tax rates on deferred taxes is recognized in the period that the change is enacted . the company evaluates its deferred tax assets and records a valuation allowance when , in management 's opinion , it is more likely than not that some portion or all of the deferred tax assets will not be realized . for the periods presented , no valuation allowance has been provided . in 2017 , the company incurred an estimated one-time charge of $ 372,000 related to the enactment of the tax cut and jobs act of 2017. this charge is related to the re-measurement of the company 's deferred tax assets arising from a lower u.s. corporate tax rate of $ 294,000 and a $ 78,000 charge related to a one-time transition tax applicable to the new dividend exemption system related to foreign earnings . we believe that we have made reasonable estimates with respect to each of the above items , however , all of the amounts recorded are provisional as we have not completed our analysis of the complex and far reaching effects of the tax cut and jobs act of 2017. under guidance issued by the staff of the sec , we expect to finalize our accounting related to the tax effects of the tax cut and jobs act of 2017 during 2018 as we complete our analysis , computations and assertions . it is possible that others , applying reasonable judgment to the same facts and circumstances , could develop and support a range of alternative estimated amounts . we will revise these estimates during 2018 as we gather additional information to complete our tax returns and as any interpretation or clarification of the tax cut and jobs act of 2017 occurs through legislation , u.s. treasury actions or other means . the company accounts for uncertain tax positions in accordance with asc topic 740-10 ,  accounting for uncertainty in income taxes  . accordingly , the company has reported a liability for unrecognized tax benefits resulting from uncertain tax positions taken , or expected to be taken , in a tax return . as of december 31 , 2017 and 2016 , the company provided $ 95,000 and $ 128,000 for uncertain tax positions , including interest and penalties , related to various state income tax matters . the company 's 2015 federal income tax return is under audit by the internal revenue service ( irs ) . during 2013 , the company 's 2011 federal income tax return was audited by the irs resulting in no material adjustments to its filed return . 35 derivative instruments and hedging activities interest rate swap contracts : concurrent with the company 's borrowings on july 13 , 2017 under its new credit facility , the company entered into an interest-rate swap to convert the debt 's variable interest rate to a fixed

liquidity and capital resources financial conditions and liquidity at december 31 , 2017 , we had outstanding bank debt , net of cash balances on hand , of approximately $ 36 million and approximately $ 13 million of borrowing capacity under our existing credit facility . during 2017 , our outstanding bank debt , net of cash balances on hand , increased by $ 27 million and is reflective of the debt financing related to our acquisition of infotrellis which closed on july 13 , 2017. historically , we have funded our business needs with cash generation from operating activities . in the data and analytics and it staffing services industries , investment in operating working capital levels ( defined as current assets excluding cash and cash equivalents minus current liabilities , excluding short-term borrowings ) is a significant use of cash . controlling our operating working capital levels by closely managing our accounts receivable balance is an important element of cash preservation . our accounts receivable days sales outstanding measurement ( dso ) was 58 days at year-end in both 2017 and 2016. cash provided by operating activities , our cash and cash equivalent balances on hand at december 31 , 2017 and current availability under our existing credit facility are expected to be adequate to fund our business needs over the next 12 months . below is a tabular presentation of cash flow activities for the periods discussed : replace_table_token_5_th operating activities cash provided by operating activities for the years ended december 31 , 2017 , 2016 and 2015 totaled $ 3.4 million , $ 2.3 million and $ 3.0 million , respectively . in 2017 , cash flows from operating activities included net income of $ 1.6 million and non-cash charges of $ 2.3 million , partially offset by an increase in operating working capital of $ 0.5 million . in 2016 , cash flows from operating activities included net income of $ 2.5 million and non-cash charges of $ 1.6 million , partially offset by an increase in operating working capital of $ 1.8 million .


 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.
     ```liquidity and capital resources financial conditions and liquidity at december 31 , 2017 , we had outstanding bank debt , net of cash balances on hand , of approximately $ 36 million and approximately $ 13 million of borrowing capacity under our existing credit facility . during 2017 , our outstanding bank debt , net of cash balances on hand , increased by $ 27 million and is reflective of the debt financing related to our acquisition of infotrellis which closed on july 13 , 2017. historically , we have funded our business needs with cash generation from operating activities . in the data and analytics and it staffing services industries , investment in operating working capital levels ( defined as current assets excluding cash and cash equivalents minus current liabilities , excluding short-term borrowings ) is a significant use of cash . controlling our operating working capital levels by closely managing our accounts receivable balance is an important element of cash preservation . our accounts receivable days sales outstanding measurement ( dso ) was 58 days at year-end in both 2017 and 2016. cash provided by operating activities , our cash and cash equivalent balances on hand at december 31 , 2017 and current availability under our existing credit facility are expected to be adequate to fund our business needs over the next 12 months . below is a tabular presentation of cash flow activities for the periods discussed : replace_table_token_5_th operating activities cash provided by operating activities for the years ended december 31 , 2017 , 2016 and 2015 totaled $ 3.4 million , $ 2.3 million and $ 3.0 million , respectively . in 2017 , cash flows from operating activities included net income of $ 1.6 million and non-cash charges of $ 2.3 million , partially offset by an increase in operating working capital of $ 0.5 million . in 2016 , cash flows from operating activities included net income of $ 2.5 million and non-cash charges of $ 1.6 million , partially offset by an increase in operating working capital of $ 1.8 million .
```    
 Suspicious Activity Report : as the economy slowed during the last half of 2007 and recessionary conditions emerged in 2008 and during much of 2009 , we experienced less demand for our staffing services . during the second half of 2009 , we began to see signs of market stabilization and a modest pick-up in activity levels within certain sales channels and technologies and in 2010 , market conditions continued to strengthen over the course of the year . in 2011 through 2013 , activity levels continued to trend up in most technologies and sales channels . during 2014 and 2015 , we continued to see a steady flow of solid activity in our contract staffing business ; however , tightness in the supply side ( skilled it professionals ) of our business during these years negatively impacted our new assignment successes . solid activity levels in our contract staffing business continued in 2016 and 2017 , however , recruitment challenges remained due to the tightness in the supply of skilled it professionals . as we enter 2018 , we view growth in the job market and an expanding domestic and global economy as positive factors for both our it staffing services and data and analytics businesses . we expect supply side pressures to persist in both of our business segments , particularly continuing within the united states . in addition to tracking general economic conditions in the markets that we service , a large portion of our revenues is generated from a limited number of clients ( see item 1a , the risk factor entitled our revenues are highly concentrated and the loss of a significant client would adversely affect our business and revenues ) . accordingly , our trends and outlook are additionally impacted by the prospects and well-being of these specific clients . this account concentration factor may result in our results of operations deviating from the prevailing economic trends from time to time . 26 within our it staffing segment , a larger portion of our revenues has come from strategic relationships with systems integrators and other staffing organizations . additionally , many large end users of it staffing services are employing msp 's to manage their contractor spending . both of these dynamics may pressure our it staffing gross margins in the future . recent u.s. growth in advanced technologies ( social , cloud , analytics , mobility , automation ) is providing opportunities with our it staffing segment . however , supply side challenges are acute with respect to many of these technologies . recent developments on july 13 , 2017 , we completed our acquisition of the services division of canada-based infotrellis , inc. , a project-based consulting services company with specialized capabilities in data management and analytics . the acquisition is expected to significantly strengthen our capabilities to offer consulting and project-based delivery of digital transformation services . infotrellis , inc. is headquartered in toronto , canada , with offices in austin , texas and a global delivery center in chennai , india . the purchase agreement for the infotrellis acquisition totaled $ 55 million , with $ 35.75 million paid in cash at closing ( which was reduced by working capital adjustments of $ 861,000 ) and $ 19.25 million deferred over the two years after closing . the deferred purchase price is contingent upon the acquired business generating specified ebit ( earnings before interest and taxes ) targets during the first two years following closing . the funding for the transaction consisted of a combination of debt and equity . a new $ 65 million credit facility we established on july 13 , 2017 with pnc bank , n.a . ( pnc ) provided debt financing for the transaction , refinancing of our previously existing debt with pnc and additional borrowing capacity . the equity financing was completed through a $ 6.0 million private placement of newly-issued shares of our common stock to our founders and majority shareholders , ashok trivedi and sunil wadhwani . pursuant to the terms of the share purchase agreements executed in connection with the private placement of these shares , we agreed to sell such shares at a price per share equal to the greater of $ 7.00 or the closing price for our common stock on july 10 , 2017 ( two business days after the july 7 , 2017 announcement of the transaction ) , which was $ 6.35 per share . accordingly , the common stock was sold on july 13 , 2017 at a price per share equal to $ 7.00. the terms of the private placement were negotiated and approved by a special committee of our independent directors , which retained counsel and an independent financial advisor . on july 13 , 2017 and july 19 , 2017 , we filed with the securities and exchange commission current reports on form 8-k providing additional details on this acquisition and the financing arrangements . on september 27 , 2017 , we filed an amendment to our july 19 , 2017 current report on form 8-k solely to include the financial statements and financial information required under item 9.01 of form 8-k , which statements and information were excluded from the original form 8-k in reliance on paragraphs ( a ) ( 4 ) and ( b ) ( 2 ) of item 9.01 of form 8-k. results of operations as described above , since the july 13 , 2017 closing of the infotrellis acquisition , we operate in two reporting segments  data and analytics services ; and it staffing services . story_separator_special_tag asc 805 requires that any excess purchase price over fair value of assets acquired ( including identifiable intangibles ) and liabilities assumed be recognized as goodwill . additionally , any excess fair value of acquired net assets over acquisition consideration results in a bargain purchase gain . prior to recording a gain , the acquiring entity must reassess whether all acquired assets and assumed liabilities have been identified and must perform re-measurements to verify that the consideration paid , assets acquired and liabilities assumed have all been properly valued . the infotrellis financial results are included in the company 's consolidated financial statements from the date of the acquisition of july 13 , 2017. the hudson it financial results are included in the company 's consolidated financial statements from the date of the acquisition of june 15 , 2015. stock-based compensation effective october 1 , 2008 , the company adopted a stock incentive plan ( the plan ) which , as amended , provides that up to 1,400,000 shares of the company 's common stock shall be allocated for issuance to directors , 34 executive management and key personnel . grants under the plan can be made in the form of stock options , stock appreciation rights , performance shares or stock awards . the plan is administered by the compensation committee of the board of directors . stock options are granted at an exercise price equal to the closing share price of the company 's common stock at the grant date and generally vest over a three to five year period . the company accounts for stock-based compensation expense in accordance with asc topic 718  share-based payments  which requires us to measure all share-based payments based on their estimated fair value and recognize compensation expense over the requisite service period . the fair value of our stock options is determined at the date of grant using the black-scholes option pricing model . income taxes the company records an estimated liability for income and other taxes based on what management determines will likely be paid in the various tax jurisdictions in which we operate . management uses its best judgment in the determination of these amounts . however , the liabilities ultimately realized and paid are dependent on various matters , including the resolution of the tax audits in the various affected tax jurisdictions , and may differ from the amounts recorded . an adjustment to the estimated liability would be recorded through income in the period in which it becomes probable that the amount of the actual liability differs from the amount recorded . management determines the company 's income tax provision using the asset and liability method . under this method , deferred income taxes are provided for the temporary differences between the financial reporting basis and the tax basis of the company 's assets and liabilities . the company measures deferred tax assets and liabilities using enacted tax rates in effect for the year in which we expect to recover or settle the temporary differences . the effect of a change in tax rates on deferred taxes is recognized in the period that the change is enacted . the company evaluates its deferred tax assets and records a valuation allowance when , in management 's opinion , it is more likely than not that some portion or all of the deferred tax assets will not be realized . for the periods presented , no valuation allowance has been provided . in 2017 , the company incurred an estimated one-time charge of $ 372,000 related to the enactment of the tax cut and jobs act of 2017. this charge is related to the re-measurement of the company 's deferred tax assets arising from a lower u.s. corporate tax rate of $ 294,000 and a $ 78,000 charge related to a one-time transition tax applicable to the new dividend exemption system related to foreign earnings . we believe that we have made reasonable estimates with respect to each of the above items , however , all of the amounts recorded are provisional as we have not completed our analysis of the complex and far reaching effects of the tax cut and jobs act of 2017. under guidance issued by the staff of the sec , we expect to finalize our accounting related to the tax effects of the tax cut and jobs act of 2017 during 2018 as we complete our analysis , computations and assertions . it is possible that others , applying reasonable judgment to the same facts and circumstances , could develop and support a range of alternative estimated amounts . we will revise these estimates during 2018 as we gather additional information to complete our tax returns and as any interpretation or clarification of the tax cut and jobs act of 2017 occurs through legislation , u.s. treasury actions or other means . the company accounts for uncertain tax positions in accordance with asc topic 740-10 ,  accounting for uncertainty in income taxes  . accordingly , the company has reported a liability for unrecognized tax benefits resulting from uncertain tax positions taken , or expected to be taken , in a tax return . as of december 31 , 2017 and 2016 , the company provided $ 95,000 and $ 128,000 for uncertain tax positions , including interest and penalties , related to various state income tax matters . the company 's 2015 federal income tax return is under audit by the internal revenue service ( irs ) . during 2013 , the company 's 2011 federal income tax return was audited by the irs resulting in no material adjustments to its filed return . 35 derivative instruments and hedging activities interest rate swap contracts : concurrent with the company 's borrowings on july 13 , 2017 under its new credit facility , the company entered into an interest-rate swap to convert the debt 's variable interest rate to a fixed

