ebitda and adjusted ebitda do not reflect our obligations for the payment of income taxes , interest expense or other obligations such as capital expenditures . accordingly , ebitda 24 index to financial statements and adjusted ebitda are only two of the measurements that management utilizes . other companies in our industry may calculate ebitda or adjusted ebitda differently than we do and ebitda and adjusted ebitda may not be comparable with similarly titled measures reported by other companies . ( 2 ) non-recurring contract settlement costs of approximately $ 2.1 million in 2016 include approximately $ 1.8 million of deferred cash payments and approximately $ 300,000 of stock based compensation . within our marine technology products segment , we design , manufacture and sell a variety of products used primarily in oceanographic , hydrographic , defense , seismic and maritime security industries . seamap 's primary products include the ( i ) gunlink and digishot seismic source acquisition and control systems , which provide marine operators more precise control of exploration tools ; and ( ii ) the buoylink rgps tracking system used to provide precise positioning of seismic sources and streamers ( marine recording channels that are towed behind a vessel ) . klein designs , manufactures and sells side scan sonar and water-side security systems to commercial , governmental and military customers throughout the world . sap sells equipment , consumable supplies , systems integration , engineering hardware and software maintenance support services to the seismic , hydrographic , oceanographic , environmental and defense industries throughout southeast asia and australia . in march 2018 , following the hydroscience acquisition , seamap introduced the sealink product line of marine sensor and solid streamer systems ( see note 20 - subsequent event to our consolidated financial statements ) . these towed streamer systems are primarily designed for three-dimensional , high-resolution marine surveys in hydrographic industry applications . in our equipment leasing segment , we lease seismic data acquisition equipment primarily to seismic data acquisition companies conducting land , transition zone and marine seismic surveys worldwide . we provide short-term leasing of seismic equipment to meet a customer 's requirements . all active leases at january 31 , 2018 were for a term of less than one year . seismic equipment held for lease is carried at cost , net of accumulated depreciation . we acquire some marine lease pool equipment from our marine technology products segment . these amounts are carried in our lease pool at the cost to our marine technology products segment , less accumulated depreciation . from time to time , we sell lease pool equipment . these sales are transacted when we have equipment for which we do not have near term needs in our leasing business or is otherwise considered excess . additionally , when equipment that has been leased to a customer is lost or destroyed , the customer is charged for such equipment at amounts specified in the underlying lease agreement . these charges are included in “ lease pool equipment sales ” in the accompanying financial statements . our results of operations can experience fluctuations in activity levels due to a number of factors outside of our control . these factors include budgetary or financial concerns , difficulties in obtaining licenses or permits , security issues , labor or political issues and weather issues . see item 1a- “ risk factors . ” business outlook prior to fiscal 2017 the majority of our revenues were generated by our equipment leasing segment . since fiscal 2017 we have seen a significant decline in revenues from leasing activity . this decline has been caused , we believe , by a number of factors including the following : a reduction in demand for seismic services brought about by reduced oil and gas exploration activities , which was in turn caused by lower prices for oil and gas and by excess inventories of those commodities . an excess of capacity in the seismic industry , specifically excess supplies of seismic equipment . technological advances which have reduced the cost of certain seismic equipment , therefore resulting in pressure on prices for the rental or sale of such equipment . increased competition among providers of seismic equipment . we believe that many of these factors will have a lasting effect on the seismic equipment industry . therefore , we believe that it unlikely that the results of our equipment leasing segment return to levels seen historically . accordingly , we have implemented a strategy to emphasize our marine technology products segment and to make certain changes in our equipment leasing segment . the vision statement for the company ( see “ item 1 - business ” ) was developed to serve as a guide for the new strategy . our strategy includes the following key points : increased emphasis on our marine technology products segment . we are expanding our product offerings with an emphasis on products and services that are not exclusively dependent upon oil and gas exploration activity . we expect new products and services to come from a combination of internally developed products and those acquired from third parties , such as the acquisition of klein in december 2015 and the new products introduced in march 2018 as discussed above . decrease capital deployed in lease pool . we expect our equipment leasing segment to remain an important component of our business ; however , we believe capital can in some cases be more efficiently deployed in other areas . we have in recent periods sold assets from the lease pool have used those proceeds to repay debt and invest in other operations . we also have limited investment in new lease pool assets in recent periods ; therefore , our investment in the lease pool has decreased significantly . we may , however , make additional lease pool investments in the future . story_separator_special_tag operating expenses selling , general and administrative expenses for fiscal 2018 amounted to approximately $ 19.7 million , compared to approximately $ 19.8 million and $ 18.0 million in fiscal 2017 and 2016 , respectively . in response to the continuing depressed environment in the seismic industry , particularly the land seismic industry , we have implemented a program to further reduce costs by scaling back or eliminating operations in certain areas . as a result of this we recorded a charge of approximately $ 400,000 in the fourth quarter of fiscal 2018 related to certain costs associated with this program . fiscal 2017 amounts reflect a full-year of activity related to klein , which we acquired effective december 31 , 2015. without this effect , general and administrative expenses would have declined approximately 2 % in fiscal 2017 as compared to fiscal 2016. the reductions in fiscal 2018 and 2017 , after taking into account the items discussed above , reflect various cost reduction activities implemented during that year in response to the general downturn in the company 's business . due to the decline in seismic exploration activity , we think it now more likely that certain of our customers will encounter financial difficulties and may be unable to fully satisfy their financial obligations to us . in fiscal 2018 we implemented a program to resolve certain long-outstanding accounts receivable by offering significant discounts in return for a cash settlement . therefore , in fiscal 2018 , 2017 and 2016 , we provided approximately $ 1.0 million , $ 750,000 and $ 2.2 million , respectively , for doubtful accounts . at january 31 , 2018 and 2017 , we had trade accounts and note receivables over 90 days past due of approximately $ 6.2 million and $ 11.7 million , respectively . in our industry , and in our experience , it is not unusual for accounts to become delinquent from time to time and this is not necessarily indicative of an account becoming uncollectable . as of january 31 , 2018 and 2017 , our allowance for doubtful accounts receivable amounted to approximately $ 6.2 million and $ 5.9 million , respectively . depreciation and amortization , other than lease pool depreciation , relates primarily to the depreciation of furniture , fixtures and office equipment and the amortization of intangible assets . the increase in depreciation and amortization expense in fiscal 2017 and 2016 relates to intangible assets acquired in december 2016 related to klein and may 2014 in connection with the ion product lines . we periodically evaluate the recoverability of our intangible assets , including goodwill . due to the shortfall in expected revenues from klein as discussed above and the inherent uncertainty in projections of future results , we determined to record an impairment charge of approximately $ 1.5 million , representing all goodwill related to klein . for 2017 , our evaluation did not give an indication of impairment . in fiscal 2016 , our evaluation did give an indication of impairment . as a result , we recorded an impairment charge of approximately $ 3.6 million in fiscal 2016. approximately $ 600,000 of this charge related to intangible assets associated with heli-picker assets acquired in fiscal 2011 and approximately $ 3.0 million related to goodwill associated with seamap . other income and expense interest income reflects amounts earned on invested funds and finance charges related to seismic equipment sold under financing arrangements . interest expense primarily reflects interest costs arising from borrowings under the credit agreement and the seamap credit facility ( both as defined below ) . interest expense decreased in fiscal 2018 and fiscal 2017 as compared to the prior fiscal years primarily due to lower average borrowings during those periods and the elimination of these obligations during fiscal 2018 . 29 index to financial statements other income and expense relates primarily to net foreign exchange losses and gains . these gains and losses resulted primarily from two situations . certain of our foreign operations have a functional currency of the u.s. dollar yet have cash , accounts receivable and accounts payable denominated in other currencies . these operations generally have net assets denominated in these other currencies . as the u.s. dollar strengthens against these other currencies , a foreign exchange loss arises and vice versa . in fiscal 2018 , 2017 and 2016 we recorded foreign exchange losses of approximately $ 844,000 and $ 72,000 and foreign exchange gains of approximately $ 1.3 million , respectively , related to these situations . in the second situation , certain of our foreign operations have a functional currency of the local currency yet have cash , accounts receivable and accounts payable denominated in the u.s. dollar . these operations generally have net liabilities denominated in u.s. dollars , including inter-company obligations . in fiscal 2018 we recognized approximately $ 169,000 of exchange gain of this type . in fiscal 2017 , we incurred approximately $ 339,000 of exchange gains of this type . in fiscal 2016 we incurred approximately $ 1.1 million of exchange losses of this type , primarily related to the strengthening of the u.s. dollar versus the russian ruble , australian dollar , british pound sterling and the canadian dollar . we believe gains and losses of this type are non-cash items and are considered in our calculation of adjusted ebitda . provision for income taxes our provision for income taxes in fiscal 2018 is approximately $ 910,000. this amount differs from that expected when applying the effective u.s. statutory rate of 32.9 % to our loss before income taxes due primarily to recording a valuation allowance against all of the fiscal 2018 increase in our deferred tax assets and the effect of foreign withholding and branch taxes . recently enacted changes to tax laws in the united states , including a reduction in the corporate tax rate and the manner in which earnings from foreign

liquidity and capital resources our principal source of liquidity and capital over the past three fiscal years has been cash flows provided by operating activities , proceeds from the issuance of preferred stock , the credit agreement and the seamap credit facility . the principal factor that has affected our cash flow from operating activities is the level of oil and gas exploration and development activities as discussed above . we believe that our liquidity needs for the next 12 months will be met from cash on hand , cash provided by operating activities , proceeds from the sale of lease pool equipment and from proceeds from the issuance of additional shares of preferred stock , taking into account the possible restrictions on funds from our foreign subsidiaries . on august 2 , 2013 , we entered into a syndicated $ 50 million , secured , three-year revolving credit agreement ( the “ credit agreement ” ) with hsbc bank usa , n.a as administrative agent , and on august 22 , 2014 , seamap singapore entered into a $ 15.0 million credit facility ( the “ seamap credit facility ” ) with the hongkong and shanghai banking corporation limited . in march 2017 , we repaid all outstanding obligations under the credit agreement and terminated that agreement . also , on april 5 , 2017 , we repaid all outstanding obligations under the seamap credit facility and cancelled that facility . we are engaged in discussions with other commercial banks regarding establishing a new revolving credit facility or facilities . there can be no assurance , however , that we will be successful in negotiating any such facilities . accordingly , we currently do not plan to rely upon proceeds from revolving credit facilities to meet our liquidity and capital needs . in june 2016 , we completed an offering of 9.00 % cumulative preferred stock ( the “ series a preferred stock ” ) .


 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 our principal source of liquidity and capital over the past three fiscal years has been cash flows provided by operating activities , proceeds from the issuance of preferred stock , the credit agreement and the seamap credit facility . the principal factor that has affected our cash flow from operating activities is the level of oil and gas exploration and development activities as discussed above . we believe that our liquidity needs for the next 12 months will be met from cash on hand , cash provided by operating activities , proceeds from the sale of lease pool equipment and from proceeds from the issuance of additional shares of preferred stock , taking into account the possible restrictions on funds from our foreign subsidiaries . on august 2 , 2013 , we entered into a syndicated $ 50 million , secured , three-year revolving credit agreement ( the “ credit agreement ” ) with hsbc bank usa , n.a as administrative agent , and on august 22 , 2014 , seamap singapore entered into a $ 15.0 million credit facility ( the “ seamap credit facility ” ) with the hongkong and shanghai banking corporation limited . in march 2017 , we repaid all outstanding obligations under the credit agreement and terminated that agreement . also , on april 5 , 2017 , we repaid all outstanding obligations under the seamap credit facility and cancelled that facility . we are engaged in discussions with other commercial banks regarding establishing a new revolving credit facility or facilities . there can be no assurance , however , that we will be successful in negotiating any such facilities . accordingly , we currently do not plan to rely upon proceeds from revolving credit facilities to meet our liquidity and capital needs . in june 2016 , we completed an offering of 9.00 % cumulative preferred stock ( the “ series a preferred stock ” ) .
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 Suspicious Activity Report : ebitda and adjusted ebitda do not reflect our obligations for the payment of income taxes , interest expense or other obligations such as capital expenditures . accordingly , ebitda 24 index to financial statements and adjusted ebitda are only two of the measurements that management utilizes . other companies in our industry may calculate ebitda or adjusted ebitda differently than we do and ebitda and adjusted ebitda may not be comparable with similarly titled measures reported by other companies . ( 2 ) non-recurring contract settlement costs of approximately $ 2.1 million in 2016 include approximately $ 1.8 million of deferred cash payments and approximately $ 300,000 of stock based compensation . within our marine technology products segment , we design , manufacture and sell a variety of products used primarily in oceanographic , hydrographic , defense , seismic and maritime security industries . seamap 's primary products include the ( i ) gunlink and digishot seismic source acquisition and control systems , which provide marine operators more precise control of exploration tools ; and ( ii ) the buoylink rgps tracking system used to provide precise positioning of seismic sources and streamers ( marine recording channels that are towed behind a vessel ) . klein designs , manufactures and sells side scan sonar and water-side security systems to commercial , governmental and military customers throughout the world . sap sells equipment , consumable supplies , systems integration , engineering hardware and software maintenance support services to the seismic , hydrographic , oceanographic , environmental and defense industries throughout southeast asia and australia . in march 2018 , following the hydroscience acquisition , seamap introduced the sealink product line of marine sensor and solid streamer systems ( see note 20 - subsequent event to our consolidated financial statements ) . these towed streamer systems are primarily designed for three-dimensional , high-resolution marine surveys in hydrographic industry applications . in our equipment leasing segment , we lease seismic data acquisition equipment primarily to seismic data acquisition companies conducting land , transition zone and marine seismic surveys worldwide . we provide short-term leasing of seismic equipment to meet a customer 's requirements . all active leases at january 31 , 2018 were for a term of less than one year . seismic equipment held for lease is carried at cost , net of accumulated depreciation . we acquire some marine lease pool equipment from our marine technology products segment . these amounts are carried in our lease pool at the cost to our marine technology products segment , less accumulated depreciation . from time to time , we sell lease pool equipment . these sales are transacted when we have equipment for which we do not have near term needs in our leasing business or is otherwise considered excess . additionally , when equipment that has been leased to a customer is lost or destroyed , the customer is charged for such equipment at amounts specified in the underlying lease agreement . these charges are included in “ lease pool equipment sales ” in the accompanying financial statements . our results of operations can experience fluctuations in activity levels due to a number of factors outside of our control . these factors include budgetary or financial concerns , difficulties in obtaining licenses or permits , security issues , labor or political issues and weather issues . see item 1a- “ risk factors . ” business outlook prior to fiscal 2017 the majority of our revenues were generated by our equipment leasing segment . since fiscal 2017 we have seen a significant decline in revenues from leasing activity . this decline has been caused , we believe , by a number of factors including the following : a reduction in demand for seismic services brought about by reduced oil and gas exploration activities , which was in turn caused by lower prices for oil and gas and by excess inventories of those commodities . an excess of capacity in the seismic industry , specifically excess supplies of seismic equipment . technological advances which have reduced the cost of certain seismic equipment , therefore resulting in pressure on prices for the rental or sale of such equipment . increased competition among providers of seismic equipment . we believe that many of these factors will have a lasting effect on the seismic equipment industry . therefore , we believe that it unlikely that the results of our equipment leasing segment return to levels seen historically . accordingly , we have implemented a strategy to emphasize our marine technology products segment and to make certain changes in our equipment leasing segment . the vision statement for the company ( see “ item 1 - business ” ) was developed to serve as a guide for the new strategy . our strategy includes the following key points : increased emphasis on our marine technology products segment . we are expanding our product offerings with an emphasis on products and services that are not exclusively dependent upon oil and gas exploration activity . we expect new products and services to come from a combination of internally developed products and those acquired from third parties , such as the acquisition of klein in december 2015 and the new products introduced in march 2018 as discussed above . decrease capital deployed in lease pool . we expect our equipment leasing segment to remain an important component of our business ; however , we believe capital can in some cases be more efficiently deployed in other areas . we have in recent periods sold assets from the lease pool have used those proceeds to repay debt and invest in other operations . we also have limited investment in new lease pool assets in recent periods ; therefore , our investment in the lease pool has decreased significantly . we may , however , make additional lease pool investments in the future . story_separator_special_tag operating expenses selling , general and administrative expenses for fiscal 2018 amounted to approximately $ 19.7 million , compared to approximately $ 19.8 million and $ 18.0 million in fiscal 2017 and 2016 , respectively . in response to the continuing depressed environment in the seismic industry , particularly the land seismic industry , we have implemented a program to further reduce costs by scaling back or eliminating operations in certain areas . as a result of this we recorded a charge of approximately $ 400,000 in the fourth quarter of fiscal 2018 related to certain costs associated with this program . fiscal 2017 amounts reflect a full-year of activity related to klein , which we acquired effective december 31 , 2015. without this effect , general and administrative expenses would have declined approximately 2 % in fiscal 2017 as compared to fiscal 2016. the reductions in fiscal 2018 and 2017 , after taking into account the items discussed above , reflect various cost reduction activities implemented during that year in response to the general downturn in the company 's business . due to the decline in seismic exploration activity , we think it now more likely that certain of our customers will encounter financial difficulties and may be unable to fully satisfy their financial obligations to us . in fiscal 2018 we implemented a program to resolve certain long-outstanding accounts receivable by offering significant discounts in return for a cash settlement . therefore , in fiscal 2018 , 2017 and 2016 , we provided approximately $ 1.0 million , $ 750,000 and $ 2.2 million , respectively , for doubtful accounts . at january 31 , 2018 and 2017 , we had trade accounts and note receivables over 90 days past due of approximately $ 6.2 million and $ 11.7 million , respectively . in our industry , and in our experience , it is not unusual for accounts to become delinquent from time to time and this is not necessarily indicative of an account becoming uncollectable . as of january 31 , 2018 and 2017 , our allowance for doubtful accounts receivable amounted to approximately $ 6.2 million and $ 5.9 million , respectively . depreciation and amortization , other than lease pool depreciation , relates primarily to the depreciation of furniture , fixtures and office equipment and the amortization of intangible assets . the increase in depreciation and amortization expense in fiscal 2017 and 2016 relates to intangible assets acquired in december 2016 related to klein and may 2014 in connection with the ion product lines . we periodically evaluate the recoverability of our intangible assets , including goodwill . due to the shortfall in expected revenues from klein as discussed above and the inherent uncertainty in projections of future results , we determined to record an impairment charge of approximately $ 1.5 million , representing all goodwill related to klein . for 2017 , our evaluation did not give an indication of impairment . in fiscal 2016 , our evaluation did give an indication of impairment . as a result , we recorded an impairment charge of approximately $ 3.6 million in fiscal 2016. approximately $ 600,000 of this charge related to intangible assets associated with heli-picker assets acquired in fiscal 2011 and approximately $ 3.0 million related to goodwill associated with seamap . other income and expense interest income reflects amounts earned on invested funds and finance charges related to seismic equipment sold under financing arrangements . interest expense primarily reflects interest costs arising from borrowings under the credit agreement and the seamap credit facility ( both as defined below ) . interest expense decreased in fiscal 2018 and fiscal 2017 as compared to the prior fiscal years primarily due to lower average borrowings during those periods and the elimination of these obligations during fiscal 2018 . 29 index to financial statements other income and expense relates primarily to net foreign exchange losses and gains . these gains and losses resulted primarily from two situations . certain of our foreign operations have a functional currency of the u.s. dollar yet have cash , accounts receivable and accounts payable denominated in other currencies . these operations generally have net assets denominated in these other currencies . as the u.s. dollar strengthens against these other currencies , a foreign exchange loss arises and vice versa . in fiscal 2018 , 2017 and 2016 we recorded foreign exchange losses of approximately $ 844,000 and $ 72,000 and foreign exchange gains of approximately $ 1.3 million , respectively , related to these situations . in the second situation , certain of our foreign operations have a functional currency of the local currency yet have cash , accounts receivable and accounts payable denominated in the u.s. dollar . these operations generally have net liabilities denominated in u.s. dollars , including inter-company obligations . in fiscal 2018 we recognized approximately $ 169,000 of exchange gain of this type . in fiscal 2017 , we incurred approximately $ 339,000 of exchange gains of this type . in fiscal 2016 we incurred approximately $ 1.1 million of exchange losses of this type , primarily related to the strengthening of the u.s. dollar versus the russian ruble , australian dollar , british pound sterling and the canadian dollar . we believe gains and losses of this type are non-cash items and are considered in our calculation of adjusted ebitda . provision for income taxes our provision for income taxes in fiscal 2018 is approximately $ 910,000. this amount differs from that expected when applying the effective u.s. statutory rate of 32.9 % to our loss before income taxes due primarily to recording a valuation allowance against all of the fiscal 2018 increase in our deferred tax assets and the effect of foreign withholding and branch taxes . recently enacted changes to tax laws in the united states , including a reduction in the corporate tax rate and the manner in which earnings from foreign

