key factors affecting our business key factors that we believe impact our business , results of operations and financial condition include , but are not limited to , the following : ● the dollar amount volume and the number of transactions that are processed by the customers that we currently serve ; ● our ability to attract new merchants and onboard them as active processing customers ; ● our ability to ( i ) successfully integrate recent acquisitions and ( ii ) complete future acquisitions ; ● our ability to offer new and competitive payment technology solutions to our customers ; and ● general economic conditions and consumer finance trends . 39 acquisitions on february 10 , 2020 , we announced the acquisition of ventanex for up to $ 50.0 million , which includes a $ 14.0 million performance-based earnout . the closing of the acquisition was financed with a combination of cash on hand and new borrowings under our existing credit facility . see note 5 to the audited consolidated financial statements included elsewhere in this annual report on form 10-k. on july 23 , 2020 , we announced the acquisition of cpayplus for up to $ 16.0 million , which includes a $ 8.0 million performance-based earnout . the closing of the acquisition was financed with cash on hand . see note 5 to the audited consolidated financial statements included elsewhere in this annual report on form 10-k. on october 27 , 2020 , we announced the acquisition of cps for up to $ 93 million , which includes up to $ 15 million in performance-based earnouts . the acquisition closed on november 2 , 2020 and was financed with cash on hand . see note 5 to the audited consolidated financial statements included elsewhere in this annual report on form 10-k. key components of our revenues and expenses revenues revenue . as our customers process increased volumes of payments , our revenues increase as a result of the fees we charge for processing these payments . most of our revenues are derived from volume-based payment processing fees ( “ discount fees ” ) and other related fixed per transaction fees . discount fees represent a percentage of the dollar amount of each credit or debit transaction processed and include fees relating to processing and services that we provide . the transaction price for such processing services are determined , based on the judgment of the company 's management , considering factors such as margin objectives , pricing practices and controls , customer segment pricing strategies , the product life cycle and the observable price of the service charged to similarly situated customers . we believe our chargeback rate was less than 1 % of our card payment volume , during the years ended december 31 , 2020 , 2019 and 2018. as discussed in note 3 in the notes to the consolidated financial statements , repay adopted asc 606 on january 1 , 2019 , using the modified retrospective method and applying the standard to all contracts not completed on the date of adoption . results for the reporting period beginning january 1 , 2019 are presented under asc 606 , while the 2018 amounts continue to be reported in accordance with the company 's historical accounting practices under previous guidance . the primary impact to the company 's consolidated financial statements as a result of the adoption of asc 606 is a change in total net revenue attributable to the presentation of interchange , network and other fees on a net basis , driven by changes in principal and agent considerations , as compared to previously being presented on a gross basis . under the modified retrospective method , the company did not restate its 2018 consolidated financial statements for these effects . expenses interchange and network fees . interchange and network fees consist primarily of pass-through fees which generally increase in proportion to card payment volume increases . these include interchange fees , dues and assessments , and other pass-through costs . beginning january 1 , 2019 , as a result of the adoption of asc 606 , interchange and network fees are not presented as operating expenses , but as a reduction of revenue . other costs of services . other costs of services primarily include commissions to our software integration partners and other third-party processing costs , such as front and back-end processing costs and sponsor bank fees . selling , general and administrative . selling , general and administrative expenses include salaries , share-based compensation and other employment costs , professional service fees , rent and utilities , and other operating costs . depreciation and amortization . depreciation expense consists of depreciation on our investments in property , equipment and computer hardware . depreciation expense is recognized on a straight-line basis over the estimated useful life of the asset . amortization expense for software development costs and purchased software is recognized on the straight-line method over a three-year estimated useful life , over a ten-year estimated useful life for customer relationships and channel relationships , and a two-year estimated useful life for non-competition agreements . interest expense . prior to the closing of the business combination , interest expense consisted of interest in respect of our indebtedness under our predecessor credit agreement ( as defined below ) , which was terminated in connection with the 40 closing of the business combination . in periods after the closing of the business combination , interest expense consists of interest in respect of our indebtedness under the successor credit agreement ( as defined below ) , which was entered into in connection with the business combination and amended in february 2020 and november 2020 . change in fair value of tax receivable liability . this amount represents the change in fair value of the tax receivable agreement liability . story_separator_special_tag the increase in net income ( loss ) attributable to the company for the year ended december 31 , 2020 , is primarily the result of one-time expenses incurred in connection with the business combination . for discussion on adjusted ebitda , adjusted net income , and net income ( loss ) attributable to the company for the year ended december 31 , 2019 compared to the year ended december 31 , 2018 , see part ii , item 7 of the company 's 2019 form 10-k. seasonality we have experienced in the past , and may continue to experience , seasonal fluctuations in our volumes and revenues as a result of consumer spending patterns . volumes and revenues during the first quarter of the calendar year tend to increase in comparison to the remaining three quarters of the calendar year on a same store basis . this increase is due to consumers ' receipt of tax refunds and the increases in repayment activity levels that follow . operating expenses show less seasonal fluctuation , with the result that net income is subject to the similar seasonal factors as our volumes and revenues . liquidity and capital resources we have historically financed our operations and working capital through net cash from operating activities . we also finance our operations through proceeds from the issuance of our class a common stock in june 2020 and our january 2021 convertible notes offering . as of december 31 , 2020 , we had $ 92.6 million of cash and cash equivalents and available borrowing capacity of $ 75.6 million under the successor credit agreement . this balance does not include restricted cash , which reflects cash accounts holding reserves for potential losses and customer settlement funds of $ 13.9 million as of december 31 , 2020. in february 2021 , we used a portion of the proceeds from the january 2021 convertible notes offering to prepay in full the entire principal amount of the term loans then outstanding under the successor credit agreement and also terminated in full all delayed draw term loan commitments then outstanding . at that time , we also amended and restated the successor credit agreement and entered into the amended credit agreement , which establishes a $ 125.0 million senior secured revolving credit facility in favor of hawk parent . our primary cash needs are to fund working capital requirements , invest in technology development , fund acquisitions and related contingent consideration , make scheduled principal payments and interest payments on our outstanding indebtedness and pay tax distributions to members of hawk parent . we expect that our cash flow from 47 operations , current cash and cash equivalents and available borrowing capacity under the amended credit agreement will be sufficient to fund our operations and planned capital expenditures and to service our debt obligations for the next twelve months . we are a holding company with no operations and depend on our subsidiaries for cash to fund all of our consolidated operations , including future dividend payments , if any . we depend on the payment of distributions by our current subsidiaries , including hawk parent , which distributions may be restricted by law or contractual agreements , including agreements governing their indebtedness . for a discussion of those considerations and restrictions , refer to part ii , item 1a `` risk factors - risks related to our class a common stock . `` cash flows the following table present a summary of cash flows from operating , investing and financing activities for the periods indicated : replace_table_token_8_th cash flow from operating activities story_separator_special_tag roman ; font-size:10pt ; font-weight : normal ; font-style : normal ; text-transform : none ; font-variant : normal ; `` > as of december 31 , 2020 , we had term loan borrowings of $ 248.3 million , net of deferred issuance costs , under the successor credit agreement , and we were in compliance with its restrictive financial covenants . amended credit agreement in february 2021 , we also amended and restated the successor credit agreement and entered into the amended credit agreement , which establishes a $ 125.0 million senior secured revolving credit facility in favor of hawk parent . we currently expect that we will remain in compliance with the restrictive financial covenants of the amended credit agreement , prospectively . contractual obligations the following table summarizes our contractual obligations and commitments as of december 31 , 2020 related to processing minimums , operating leases , borrowings , and contingent consideration : replace_table_token_9_th 49 ( a ) certain of the agreements with third-party processors require us to submit a minimum monthly number of transactions for processing . if we submit a number of transactions that is lower than the minimum , we are required to pay to the processor the fees it would have received if we had submitted the required minimum number of transactions . ( b ) we estimated interest payments through the maturity of the revolving credit facility by applying the interest rate of 4.00 % in effect on our borrowings as of december 31 , 2020 , plus an unused fee rate of 0.50 % . ( c ) represents contingent consideration associated with the acquisitions of ventanex , cpayplus , and cps . potential payments under the tax receivable agreement are not reflected in this table . see the section entitled “ — tax receivable agreement ” below . tax receivable agreement upon the completion of the business combination , we entered into that certain tax receivable agreement ( the “ tax receivable agreement ” or “ tra ” ) with holders ( other than the company ) of limited liability company interests of hawk parent ( the “ post-merger repay units ” ) . as a result of the tra , we established a liability in our consolidated financial statements . such liability , which will increase upon the exchanges of post-merger repay

net cash provided by operating activities wa s $ 28.5 million for the year ended december 31 , 2020. net cash provided by operating activities was $ 12.9 million from july 11 , 2019 to december 31 , 2019. net cash provided by operating activities was $ 8.4 million from january 1 , 2019 to july 10 , 2019. net cash provided by operating activities was $ 24.2 million in the year ended december 31 , 2018. cash provided by operating activities for the year ended december 31 , 2020 , the period from july 11 , 2019 to december 31 , 2019 , the period from january 1 , 2019 to july 10 , 2019 , and the year ended december 31 , 2018 reflects net income as adjusted for non-cash operating items including depreciation and amortization , share-based compensation , and changes in working capital accounts . cash flow from investing activities net cash used in investing activities was $ 146.0 million for the year ended december 31 , 2020 , due to the acquisition of ventanex , cpayplus , and cps , as well as capitalization of software development activities . net cash used in investing activities was $ 335.1 million from july 11 , 2019 to december 31 , 2019 , due to the business combination , the acquisitions of trisource and aps , and capitalization of software development activities . net cash used in investing activities was $ 4.0 million from january 1 , 2019 to july 10 , 2019 due to capitalization of software development activities and fixed asset additions .


 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 wa s $ 28.5 million for the year ended december 31 , 2020. net cash provided by operating activities was $ 12.9 million from july 11 , 2019 to december 31 , 2019. net cash provided by operating activities was $ 8.4 million from january 1 , 2019 to july 10 , 2019. net cash provided by operating activities was $ 24.2 million in the year ended december 31 , 2018. cash provided by operating activities for the year ended december 31 , 2020 , the period from july 11 , 2019 to december 31 , 2019 , the period from january 1 , 2019 to july 10 , 2019 , and the year ended december 31 , 2018 reflects net income as adjusted for non-cash operating items including depreciation and amortization , share-based compensation , and changes in working capital accounts . cash flow from investing activities net cash used in investing activities was $ 146.0 million for the year ended december 31 , 2020 , due to the acquisition of ventanex , cpayplus , and cps , as well as capitalization of software development activities . net cash used in investing activities was $ 335.1 million from july 11 , 2019 to december 31 , 2019 , due to the business combination , the acquisitions of trisource and aps , and capitalization of software development activities . net cash used in investing activities was $ 4.0 million from january 1 , 2019 to july 10 , 2019 due to capitalization of software development activities and fixed asset additions .
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 Suspicious Activity Report : key factors affecting our business key factors that we believe impact our business , results of operations and financial condition include , but are not limited to , the following : ● the dollar amount volume and the number of transactions that are processed by the customers that we currently serve ; ● our ability to attract new merchants and onboard them as active processing customers ; ● our ability to ( i ) successfully integrate recent acquisitions and ( ii ) complete future acquisitions ; ● our ability to offer new and competitive payment technology solutions to our customers ; and ● general economic conditions and consumer finance trends . 39 acquisitions on february 10 , 2020 , we announced the acquisition of ventanex for up to $ 50.0 million , which includes a $ 14.0 million performance-based earnout . the closing of the acquisition was financed with a combination of cash on hand and new borrowings under our existing credit facility . see note 5 to the audited consolidated financial statements included elsewhere in this annual report on form 10-k. on july 23 , 2020 , we announced the acquisition of cpayplus for up to $ 16.0 million , which includes a $ 8.0 million performance-based earnout . the closing of the acquisition was financed with cash on hand . see note 5 to the audited consolidated financial statements included elsewhere in this annual report on form 10-k. on october 27 , 2020 , we announced the acquisition of cps for up to $ 93 million , which includes up to $ 15 million in performance-based earnouts . the acquisition closed on november 2 , 2020 and was financed with cash on hand . see note 5 to the audited consolidated financial statements included elsewhere in this annual report on form 10-k. key components of our revenues and expenses revenues revenue . as our customers process increased volumes of payments , our revenues increase as a result of the fees we charge for processing these payments . most of our revenues are derived from volume-based payment processing fees ( “ discount fees ” ) and other related fixed per transaction fees . discount fees represent a percentage of the dollar amount of each credit or debit transaction processed and include fees relating to processing and services that we provide . the transaction price for such processing services are determined , based on the judgment of the company 's management , considering factors such as margin objectives , pricing practices and controls , customer segment pricing strategies , the product life cycle and the observable price of the service charged to similarly situated customers . we believe our chargeback rate was less than 1 % of our card payment volume , during the years ended december 31 , 2020 , 2019 and 2018. as discussed in note 3 in the notes to the consolidated financial statements , repay adopted asc 606 on january 1 , 2019 , using the modified retrospective method and applying the standard to all contracts not completed on the date of adoption . results for the reporting period beginning january 1 , 2019 are presented under asc 606 , while the 2018 amounts continue to be reported in accordance with the company 's historical accounting practices under previous guidance . the primary impact to the company 's consolidated financial statements as a result of the adoption of asc 606 is a change in total net revenue attributable to the presentation of interchange , network and other fees on a net basis , driven by changes in principal and agent considerations , as compared to previously being presented on a gross basis . under the modified retrospective method , the company did not restate its 2018 consolidated financial statements for these effects . expenses interchange and network fees . interchange and network fees consist primarily of pass-through fees which generally increase in proportion to card payment volume increases . these include interchange fees , dues and assessments , and other pass-through costs . beginning january 1 , 2019 , as a result of the adoption of asc 606 , interchange and network fees are not presented as operating expenses , but as a reduction of revenue . other costs of services . other costs of services primarily include commissions to our software integration partners and other third-party processing costs , such as front and back-end processing costs and sponsor bank fees . selling , general and administrative . selling , general and administrative expenses include salaries , share-based compensation and other employment costs , professional service fees , rent and utilities , and other operating costs . depreciation and amortization . depreciation expense consists of depreciation on our investments in property , equipment and computer hardware . depreciation expense is recognized on a straight-line basis over the estimated useful life of the asset . amortization expense for software development costs and purchased software is recognized on the straight-line method over a three-year estimated useful life , over a ten-year estimated useful life for customer relationships and channel relationships , and a two-year estimated useful life for non-competition agreements . interest expense . prior to the closing of the business combination , interest expense consisted of interest in respect of our indebtedness under our predecessor credit agreement ( as defined below ) , which was terminated in connection with the 40 closing of the business combination . in periods after the closing of the business combination , interest expense consists of interest in respect of our indebtedness under the successor credit agreement ( as defined below ) , which was entered into in connection with the business combination and amended in february 2020 and november 2020 . change in fair value of tax receivable liability . this amount represents the change in fair value of the tax receivable agreement liability . story_separator_special_tag the increase in net income ( loss ) attributable to the company for the year ended december 31 , 2020 , is primarily the result of one-time expenses incurred in connection with the business combination . for discussion on adjusted ebitda , adjusted net income , and net income ( loss ) attributable to the company for the year ended december 31 , 2019 compared to the year ended december 31 , 2018 , see part ii , item 7 of the company 's 2019 form 10-k. seasonality we have experienced in the past , and may continue to experience , seasonal fluctuations in our volumes and revenues as a result of consumer spending patterns . volumes and revenues during the first quarter of the calendar year tend to increase in comparison to the remaining three quarters of the calendar year on a same store basis . this increase is due to consumers ' receipt of tax refunds and the increases in repayment activity levels that follow . operating expenses show less seasonal fluctuation , with the result that net income is subject to the similar seasonal factors as our volumes and revenues . liquidity and capital resources we have historically financed our operations and working capital through net cash from operating activities . we also finance our operations through proceeds from the issuance of our class a common stock in june 2020 and our january 2021 convertible notes offering . as of december 31 , 2020 , we had $ 92.6 million of cash and cash equivalents and available borrowing capacity of $ 75.6 million under the successor credit agreement . this balance does not include restricted cash , which reflects cash accounts holding reserves for potential losses and customer settlement funds of $ 13.9 million as of december 31 , 2020. in february 2021 , we used a portion of the proceeds from the january 2021 convertible notes offering to prepay in full the entire principal amount of the term loans then outstanding under the successor credit agreement and also terminated in full all delayed draw term loan commitments then outstanding . at that time , we also amended and restated the successor credit agreement and entered into the amended credit agreement , which establishes a $ 125.0 million senior secured revolving credit facility in favor of hawk parent . our primary cash needs are to fund working capital requirements , invest in technology development , fund acquisitions and related contingent consideration , make scheduled principal payments and interest payments on our outstanding indebtedness and pay tax distributions to members of hawk parent . we expect that our cash flow from 47 operations , current cash and cash equivalents and available borrowing capacity under the amended credit agreement will be sufficient to fund our operations and planned capital expenditures and to service our debt obligations for the next twelve months . we are a holding company with no operations and depend on our subsidiaries for cash to fund all of our consolidated operations , including future dividend payments , if any . we depend on the payment of distributions by our current subsidiaries , including hawk parent , which distributions may be restricted by law or contractual agreements , including agreements governing their indebtedness . for a discussion of those considerations and restrictions , refer to part ii , item 1a `` risk factors - risks related to our class a common stock . `` cash flows the following table present a summary of cash flows from operating , investing and financing activities for the periods indicated : replace_table_token_8_th cash flow from operating activities story_separator_special_tag roman ; font-size:10pt ; font-weight : normal ; font-style : normal ; text-transform : none ; font-variant : normal ; `` > as of december 31 , 2020 , we had term loan borrowings of $ 248.3 million , net of deferred issuance costs , under the successor credit agreement , and we were in compliance with its restrictive financial covenants . amended credit agreement in february 2021 , we also amended and restated the successor credit agreement and entered into the amended credit agreement , which establishes a $ 125.0 million senior secured revolving credit facility in favor of hawk parent . we currently expect that we will remain in compliance with the restrictive financial covenants of the amended credit agreement , prospectively . contractual obligations the following table summarizes our contractual obligations and commitments as of december 31 , 2020 related to processing minimums , operating leases , borrowings , and contingent consideration : replace_table_token_9_th 49 ( a ) certain of the agreements with third-party processors require us to submit a minimum monthly number of transactions for processing . if we submit a number of transactions that is lower than the minimum , we are required to pay to the processor the fees it would have received if we had submitted the required minimum number of transactions . ( b ) we estimated interest payments through the maturity of the revolving credit facility by applying the interest rate of 4.00 % in effect on our borrowings as of december 31 , 2020 , plus an unused fee rate of 0.50 % . ( c ) represents contingent consideration associated with the acquisitions of ventanex , cpayplus , and cps . potential payments under the tax receivable agreement are not reflected in this table . see the section entitled “ — tax receivable agreement ” below . tax receivable agreement upon the completion of the business combination , we entered into that certain tax receivable agreement ( the “ tax receivable agreement ” or “ tra ” ) with holders ( other than the company ) of limited liability company interests of hawk parent ( the “ post-merger repay units ” ) . as a result of the tra , we established a liability in our consolidated financial statements . such liability , which will increase upon the exchanges of post-merger repay

