in 2014 , our board of directors approved a change in our fiscal year , from a fiscal year ending on december 31 of each calendar year to a fiscal year ending on the saturday closest to december 31 of each calendar year . this change is effective with the 2014 fiscal year . as a result our 2014 fiscal year ended on january 3 , 2015. the change in fiscal year did not have a material impact on our results for fiscal 2014 and did not materially impact the comparison of fiscal 2014 results to fiscal 2013 results discussed below . for purposes of this discussion , fiscal 2014 means the fiscal year ended january 3 , 2015 , fiscal 2013 means the fiscal year ended december 31 , 2013. overview we are a premier juvenile products company originally founded in 1985 and have publicly traded on the nasdaq stock market since 2007 under the symbol `` sumr . `` we create branded juvenile health , safety and wellness products ( targeted for ages 0-3 years ) that are intended to deliver a diverse range of parenting solutions to families . we focus on providing innovative products to meet the `` on-the-go `` lifestyle and demands of families who seek more opportunities to connect with their children . we operate in one principal industry segment across geographically diverse marketplaces , selling our products globally to large , national retailers as well as independent retailers , and on the internet through third-party websites and our own corporate website . in north america , our customers include babies r us , wal-mart , target , amazon.com , buy buy baby , burlington coat factory , kmart , home depot , and lowe 's . our largest european-based customers are mothercare , toys r us , argos and tesco . we also sell through international distributors , representatives , and to select international retail customers in geographic locations where we do not have a direct sales presence . the juvenile products industry is estimated to be a $ 20 billion market worldwide , and consumer focus is on quality , safety , innovation , and style . due to the halo effect of baby products in retail stores , there is a strong retailer commitment to the juvenile category . we believe we are positioned to capitalize on positive market trends in the juvenile products industry , including a predicted increase in u.s. birth rates over the next several years . fiscal 2014 was a transformative year for our company . we made several changes in executive leadership , including the appointment of carol e. bramson , a member of our board of directors , as our chief executive officer in february 2014. we also added several key members to our senior management team during 2014 , including ken price as our president of global sales , ronald t. cardone as our senior vice president , information technology , and anna dooley joined us as senior vice president of product development . in late 2014 , william e. mote , jr. was appointed our chief financial officer and in march 2015 , we announced the appointment of robert stebenne as our president and chief operating officer . in addition , we substantially completed the process of exiting our licensing arrangements with disney® and carters® begun in 2013 to focus on building our own summer® , swaddleme® , and born free® branded products . as a result of exiting these arrangements , net sales in fiscal 2014 were lower than fiscal 2013 while gross profit increased in fiscal 2014 , reflecting the benefit of decreased sales of lower margin licensed , closeout and promotional product sales in fiscal 2014 as compared to fiscal 2013. in april 2014 , we announced a voluntary recall of rechargeable batteries in certain of our handheld video monitors . costs associated with the recall were approximately $ 300 , including shared costs from 15 our monitor manufacturer . the shared costs were taken as a charge to our cost of goods sold in the first quarter of 2014. we do not expect the recall to have a significant effect on 2015. in 2014 , we introduced several new products , including our pop ' n play portable playard , 3d lite convenience strollers and bottle genius formula dispenser . we also launched homesafe by summer , a line of home safety products , and in late 2014 , we announced our co-branded partnership with little me® , a premier newborn and infant clothing brand . the new co-branded product line is expected to launch in mid-2015 and provides us with the opportunity to broaden the presence of the swaddleme® brand into high-end department stores and premium specialty retailers . in addition , in 2015 we plan to launch our wifi 3.0 monitor and to expand on our success with the 3d lite convenience stroller . we expect to continue to execute on our growth strategy in 2015 by continuing to offer innovative products and to build upon consumer recognition of the summer® , swaddleme® , and born free® brands . summary of critical accounting policies and estimates the following summary of our critical accounting policies is presented to assist in understanding our consolidated financial statements . the consolidated financial statements and notes are representations of our management , who are responsible for their integrity and objectivity . these accounting policies conform to accounting principles generally accepted in the united states of america and have been consistently applied in the preparation of the consolidated financial statements . story_separator_special_tag we receive indications from retailers generally around the middle of each year as to what products the retailer will be taking into its product line for the upcoming year . based on these indications , we will acquire tools and molds required to build and produce the products . in most cases , the payments for the tools and molds are spread over a three to four month period . for fiscal year 2014 , net cash used in operating activities totaled $ 6,276. the use of cash in fiscal year 2014 is primarily attributable to investments made in inventory for 1 ) safety stock for improving sales , 2 ) new product introductions , and 3 ) in anticipation of a potential port strike on the west coast of the united states , where our main distribution center is located , as well as an increase in receivables on higher year over year sales in the fourth quarter . we expect inventory to decline in fiscal 2015 as some of these needs subside . for fiscal year 2013 , net cash provided by operating activities totaled $ 19,061. the cash generated in fiscal year 2013 is primarily attributable to the nonrepeating benefit generated from improved working capital management during the year . 19 for fiscal year 2014 , net cash used in investing activities was approximately $ 2,960. for fiscal year 2013 , net cash used in investing activities was $ 4,322. the decline in net cash used in investing activities was primarily attributable to improved capital investment management . for fiscal year 2014 , net cash provided by financing activities was approximately $ 9,040 , reflecting borrowings primarily to pay for investments made in working capital during the year . for fiscal year 2013 , net cash used in financing activities was $ 15,787 , reflecting a pay down of our credit facilities . based primarily on the above factors , net cash decreased for fiscal year 2014 by $ 301 , resulting in a cash balance of approximately $ 1,272 at fiscal year end . the following table summarizes our significant contractual commitments at fiscal 2014 year end : replace_table_token_3_th estimated future interest payments on our line of credit were based upon the interest rates in effect at january 3 , 2015. story_separator_special_tag products having a value of $ 2,000 or more . in the event of a default , all of our obligations and the obligations of our subsidiaries under the term loan agreement may be declared immediately due and payable . for certain events of default relating to insolvency and receivership , all outstanding obligations would become due and payable . the amount outstanding on the term loan at january 3 , 2015 was $ 12,750. we were in compliance with the financial covenants under the term loan agreement as of january 3 , 2015. off-balance sheet arrangements we did not have any off-balance sheet arrangements during the year ended january 3 , 2015 or the year ended december 31 , 2013. recently issued accounting pronouncements in may 2014 , the fasb issued new accounting guidance related to revenue recognition . this new standard will replace all current u.s. gaap guidance on this topic and eliminate all industry-specific guidance . the new revenue recognition standard provides a unified model to determine when and how revenue is recognized . the core principle is that a company should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration for which the entity expects to be entitled in exchange for those goods or services . this guidance will be effective beginning january 1 , 2017 and can be applied either retrospectively to each period presented or as a cumulative-effect adjustment as of the date of adoption . we are currently evaluating the impact of the adoption of this guidance on its consolidated financial statements . management does not believe that any other recently issued , but not yet effective , accounting standards if currently adopted would have a material effect on the accompanying financial statements . special note regarding forward looking statements this report contains `` forward-looking statements `` within the meaning of section 27a of the securities act of 1933 , as amended , and section 21e of the securities exchange act of 1934 , as amended . these statements concern management 's current assumptions , estimates , beliefs , plans , strategies and expectations and anticipated events or trends and similar expressions concerning matters that are not historical facts . such forward-looking information may be identified by terms such as 22 `` expect , `` `` anticipate , `` `` believe , `` `` outlook , `` `` may , `` `` estimate , `` `` should , `` `` predict `` and similar terms or variations thereof , and includes statements regarding the effectiveness of our strategy to promote future growth and profitability , the strength of our customer and supplier relationships , our liquidity for the next 12 months , the ability of our new leadership team and expected trends and product offerings in 2015. these statements are based on a series of expectations , assumptions , estimates and projections about our company , are not guarantees of future results or performance , and involve significant risks , uncertainties and other factors , including assumptions and projections , for all forward periods . our actual results may differ materially from any future results expressed or implied by such forward-looking statements . such factors include , among others , the following : the concentration of our business with a small number of retail customers ; the purchasing policies of and advertising and promotional support from our customers ; our ability to compete by introducing new products or enhancing existing products that satisfy consumer preferences ; our ability to develop new products in a timely and cost-efficient manner ; our ability to manage inventory levels and

capital resources in addition to operating cash flow , we also rely on our existing asset-based revolving credit facility with bank of america , n.a . to meet our financing requirements , which are subject to changes in our inventory and account receivable levels . we regularly evaluate market conditions , our liquidity profile , and various financing alternatives for opportunities to enhance our capital structure . if market conditions are favorable , we may refinance our existing debt or issue additional securities . based on past performance and current expectations , we believe that our anticipated cash flow from operations and availability under our existing credit facility are sufficient to fund our working capital , capital expenditures and debt service requirements for at least the next 12 months . however , if we are unable to meet our current financial forecast and can not raise additional funds or adjust our operations accordingly , we may not remain in compliance with the financial covenants required under our revolving credit facility . unforeseen circumstances , such as softness in the retail industry or deterioration in the business of a significant customer , could create a situation where we can not access all of our available lines of credit due to not having sufficient assets or fixed charge coverage ratio as required under our credit facility . there is no assurance that we will meet all of our financial or other covenants in the future , or that our lenders will grant waivers if there are covenant violations . in addition , should we need to raise additional funds through additional debt or equity financings , any sale of additional debt or equity securities may cause dilution to existing stockholders . if sufficient funds are not available or are not available on acceptable terms , our ability to address any unexpected changes in our operations could be limited . furthermore , there can be no assurance that we will be able to raise such funds if and when they are required . failure to obtain future funding when needed or on acceptable terms could materially adversely affect our results of operations . 20 credit facility the following is a summary of our existing 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.
     ```capital resources in addition to operating cash flow , we also rely on our existing asset-based revolving credit facility with bank of america , n.a . to meet our financing requirements , which are subject to changes in our inventory and account receivable levels . we regularly evaluate market conditions , our liquidity profile , and various financing alternatives for opportunities to enhance our capital structure . if market conditions are favorable , we may refinance our existing debt or issue additional securities . based on past performance and current expectations , we believe that our anticipated cash flow from operations and availability under our existing credit facility are sufficient to fund our working capital , capital expenditures and debt service requirements for at least the next 12 months . however , if we are unable to meet our current financial forecast and can not raise additional funds or adjust our operations accordingly , we may not remain in compliance with the financial covenants required under our revolving credit facility . unforeseen circumstances , such as softness in the retail industry or deterioration in the business of a significant customer , could create a situation where we can not access all of our available lines of credit due to not having sufficient assets or fixed charge coverage ratio as required under our credit facility . there is no assurance that we will meet all of our financial or other covenants in the future , or that our lenders will grant waivers if there are covenant violations . in addition , should we need to raise additional funds through additional debt or equity financings , any sale of additional debt or equity securities may cause dilution to existing stockholders . if sufficient funds are not available or are not available on acceptable terms , our ability to address any unexpected changes in our operations could be limited . furthermore , there can be no assurance that we will be able to raise such funds if and when they are required . failure to obtain future funding when needed or on acceptable terms could materially adversely affect our results of operations . 20 credit facility the following is a summary of our existing credit facility .
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 Suspicious Activity Report : in 2014 , our board of directors approved a change in our fiscal year , from a fiscal year ending on december 31 of each calendar year to a fiscal year ending on the saturday closest to december 31 of each calendar year . this change is effective with the 2014 fiscal year . as a result our 2014 fiscal year ended on january 3 , 2015. the change in fiscal year did not have a material impact on our results for fiscal 2014 and did not materially impact the comparison of fiscal 2014 results to fiscal 2013 results discussed below . for purposes of this discussion , fiscal 2014 means the fiscal year ended january 3 , 2015 , fiscal 2013 means the fiscal year ended december 31 , 2013. overview we are a premier juvenile products company originally founded in 1985 and have publicly traded on the nasdaq stock market since 2007 under the symbol `` sumr . `` we create branded juvenile health , safety and wellness products ( targeted for ages 0-3 years ) that are intended to deliver a diverse range of parenting solutions to families . we focus on providing innovative products to meet the `` on-the-go `` lifestyle and demands of families who seek more opportunities to connect with their children . we operate in one principal industry segment across geographically diverse marketplaces , selling our products globally to large , national retailers as well as independent retailers , and on the internet through third-party websites and our own corporate website . in north america , our customers include babies r us , wal-mart , target , amazon.com , buy buy baby , burlington coat factory , kmart , home depot , and lowe 's . our largest european-based customers are mothercare , toys r us , argos and tesco . we also sell through international distributors , representatives , and to select international retail customers in geographic locations where we do not have a direct sales presence . the juvenile products industry is estimated to be a $ 20 billion market worldwide , and consumer focus is on quality , safety , innovation , and style . due to the halo effect of baby products in retail stores , there is a strong retailer commitment to the juvenile category . we believe we are positioned to capitalize on positive market trends in the juvenile products industry , including a predicted increase in u.s. birth rates over the next several years . fiscal 2014 was a transformative year for our company . we made several changes in executive leadership , including the appointment of carol e. bramson , a member of our board of directors , as our chief executive officer in february 2014. we also added several key members to our senior management team during 2014 , including ken price as our president of global sales , ronald t. cardone as our senior vice president , information technology , and anna dooley joined us as senior vice president of product development . in late 2014 , william e. mote , jr. was appointed our chief financial officer and in march 2015 , we announced the appointment of robert stebenne as our president and chief operating officer . in addition , we substantially completed the process of exiting our licensing arrangements with disney® and carters® begun in 2013 to focus on building our own summer® , swaddleme® , and born free® branded products . as a result of exiting these arrangements , net sales in fiscal 2014 were lower than fiscal 2013 while gross profit increased in fiscal 2014 , reflecting the benefit of decreased sales of lower margin licensed , closeout and promotional product sales in fiscal 2014 as compared to fiscal 2013. in april 2014 , we announced a voluntary recall of rechargeable batteries in certain of our handheld video monitors . costs associated with the recall were approximately $ 300 , including shared costs from 15 our monitor manufacturer . the shared costs were taken as a charge to our cost of goods sold in the first quarter of 2014. we do not expect the recall to have a significant effect on 2015. in 2014 , we introduced several new products , including our pop ' n play portable playard , 3d lite convenience strollers and bottle genius formula dispenser . we also launched homesafe by summer , a line of home safety products , and in late 2014 , we announced our co-branded partnership with little me® , a premier newborn and infant clothing brand . the new co-branded product line is expected to launch in mid-2015 and provides us with the opportunity to broaden the presence of the swaddleme® brand into high-end department stores and premium specialty retailers . in addition , in 2015 we plan to launch our wifi 3.0 monitor and to expand on our success with the 3d lite convenience stroller . we expect to continue to execute on our growth strategy in 2015 by continuing to offer innovative products and to build upon consumer recognition of the summer® , swaddleme® , and born free® brands . summary of critical accounting policies and estimates the following summary of our critical accounting policies is presented to assist in understanding our consolidated financial statements . the consolidated financial statements and notes are representations of our management , who are responsible for their integrity and objectivity . these accounting policies conform to accounting principles generally accepted in the united states of america and have been consistently applied in the preparation of the consolidated financial statements . story_separator_special_tag we receive indications from retailers generally around the middle of each year as to what products the retailer will be taking into its product line for the upcoming year . based on these indications , we will acquire tools and molds required to build and produce the products . in most cases , the payments for the tools and molds are spread over a three to four month period . for fiscal year 2014 , net cash used in operating activities totaled $ 6,276. the use of cash in fiscal year 2014 is primarily attributable to investments made in inventory for 1 ) safety stock for improving sales , 2 ) new product introductions , and 3 ) in anticipation of a potential port strike on the west coast of the united states , where our main distribution center is located , as well as an increase in receivables on higher year over year sales in the fourth quarter . we expect inventory to decline in fiscal 2015 as some of these needs subside . for fiscal year 2013 , net cash provided by operating activities totaled $ 19,061. the cash generated in fiscal year 2013 is primarily attributable to the nonrepeating benefit generated from improved working capital management during the year . 19 for fiscal year 2014 , net cash used in investing activities was approximately $ 2,960. for fiscal year 2013 , net cash used in investing activities was $ 4,322. the decline in net cash used in investing activities was primarily attributable to improved capital investment management . for fiscal year 2014 , net cash provided by financing activities was approximately $ 9,040 , reflecting borrowings primarily to pay for investments made in working capital during the year . for fiscal year 2013 , net cash used in financing activities was $ 15,787 , reflecting a pay down of our credit facilities . based primarily on the above factors , net cash decreased for fiscal year 2014 by $ 301 , resulting in a cash balance of approximately $ 1,272 at fiscal year end . the following table summarizes our significant contractual commitments at fiscal 2014 year end : replace_table_token_3_th estimated future interest payments on our line of credit were based upon the interest rates in effect at january 3 , 2015. story_separator_special_tag products having a value of $ 2,000 or more . in the event of a default , all of our obligations and the obligations of our subsidiaries under the term loan agreement may be declared immediately due and payable . for certain events of default relating to insolvency and receivership , all outstanding obligations would become due and payable . the amount outstanding on the term loan at january 3 , 2015 was $ 12,750. we were in compliance with the financial covenants under the term loan agreement as of january 3 , 2015. off-balance sheet arrangements we did not have any off-balance sheet arrangements during the year ended january 3 , 2015 or the year ended december 31 , 2013. recently issued accounting pronouncements in may 2014 , the fasb issued new accounting guidance related to revenue recognition . this new standard will replace all current u.s. gaap guidance on this topic and eliminate all industry-specific guidance . the new revenue recognition standard provides a unified model to determine when and how revenue is recognized . the core principle is that a company should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration for which the entity expects to be entitled in exchange for those goods or services . this guidance will be effective beginning january 1 , 2017 and can be applied either retrospectively to each period presented or as a cumulative-effect adjustment as of the date of adoption . we are currently evaluating the impact of the adoption of this guidance on its consolidated financial statements . management does not believe that any other recently issued , but not yet effective , accounting standards if currently adopted would have a material effect on the accompanying financial statements . special note regarding forward looking statements this report contains `` forward-looking statements `` within the meaning of section 27a of the securities act of 1933 , as amended , and section 21e of the securities exchange act of 1934 , as amended . these statements concern management 's current assumptions , estimates , beliefs , plans , strategies and expectations and anticipated events or trends and similar expressions concerning matters that are not historical facts . such forward-looking information may be identified by terms such as 22 `` expect , `` `` anticipate , `` `` believe , `` `` outlook , `` `` may , `` `` estimate , `` `` should , `` `` predict `` and similar terms or variations thereof , and includes statements regarding the effectiveness of our strategy to promote future growth and profitability , the strength of our customer and supplier relationships , our liquidity for the next 12 months , the ability of our new leadership team and expected trends and product offerings in 2015. these statements are based on a series of expectations , assumptions , estimates and projections about our company , are not guarantees of future results or performance , and involve significant risks , uncertainties and other factors , including assumptions and projections , for all forward periods . our actual results may differ materially from any future results expressed or implied by such forward-looking statements . such factors include , among others , the following : the concentration of our business with a small number of retail customers ; the purchasing policies of and advertising and promotional support from our customers ; our ability to compete by introducing new products or enhancing existing products that satisfy consumer preferences ; our ability to develop new products in a timely and cost-efficient manner ; our ability to manage inventory levels and

