we have incurred net losses of approximately $ 11.6 million , $ 10.0 million and $ 6.4 million for the years ended december 31 , 2014 , 2015 and 2016 , respectively , and have incurred additional net losses since inception . as of december 31 , 2016 , we had cash , cash equivalents and marketable securities of $ 6.9 million , working capital of $ 10.1 million , and an accumulated deficit of $ 91.5 million . our primary sources of cash are cash flows from operating activities and the company 's holdings of cash , cash equivalents and investments and available borrowing capacity under our revolving credit facility in an aggregate principal amount of up to $ 7.5 million of which approximately $ 3.0 million was outstanding as of december 31 , 2016. to date , the company has not generated sufficient revenue solely from operating activities to fund our operations . during the year ended december 31 , 2016 , we generated revenues of $ 36.8 million with wal-mart stores , inc. accounting for 18 % of our revenues . during the year ended december 31 , 2015 , we generated revenues of $ 41.8 million with wal-mart stores , inc. accounting for 23 % of our revenues . during the year ended december 31 , 2014 , we generated revenues of $ 45.6 million with wal-mart stores , inc. and the raymond corporation accounting for 16 % and 14 % , respectively , of our revenues . in 2016 , we improved our next generation vehicle management system on-vehicle platform , improved our product line of over-the-road asset management solutions and developed a next-generation rental vehicle management system as described below : ● we expanded our fourth-generation of on-asset hardware for industrial vehicles , the vac4 , to additional sensing capabilities to cover more of the market need , further reduced power consumption , and improved the user interface for intuitiveness and repeatability without extensive on vehicle training . remote reprogramming processes have been expanded to more of the code base , extending the ability for in-field hardware to be upgraded for new and improved ● we expect our latest generation of veriwise intermodal container tracking systems to help our customers maximize container fleet utilization and minimize container idle time by providing more accurate visibility of loading/unloading events and generating real-time data on load status throughout the shipment cycle ; ● we expect our latest generation of veriwise intermodal chassis tracking systems to help our customers accurately bill for chassis rental and usage , and minimize chassis idle time by providing more accurate visibility of container loading/unloading events and by generating real-time data throughout the shipment cycle ; ● we expect our latest generation of veriwise cellular trailer tracking systems to provide our customers with a lower-cost option for dry van trailer tracking when satellite communication is not required ; and ● we expect our latest generation of rentalfleet system to provide a more ubiquitous vehicle rental management solution to satisfy the needs of both car rental companies and shared vehicle fleets . the company entered into a separation and general release agreement ( the “ ellis separation agreement ” ) with norman l. ellis , its former chief operating officer , on december 16 , 2016 and amendment no . 2 to severance agreement ( together with the ellis separation agreement , the “ separation agreements ” ) with kenneth ehrman , its former chief executive officer , on december 20 , 2016. under the terms of the separation agreements , the company recognized severance costs of $ 637,000 which are included in selling , general and administrative expenses . in addition , a pro-rata portion of mr. ehrman 's unvested stock options and restricted stock were partially vested based on the number of months elapsed since the date of grant as compared to the scheduled vesting date . due to the modification of the terms of the stock option and restricted stock agreements , the company recognized a $ ( 26,000 ) reduction of stock-based compensation expense which is included in the stock option and restricted stock stock-based compensation expense . 36 we are highly dependent upon sales of our system to a few customers . the loss of any of these key customers , or any material reduction in the amount of our products they purchase during a particular period , could materially and adversely affect our revenues for such period . conversely , a material increase in the amount of our products purchased by a key customer ( or customers ) during a particular period could result in a significant increase in our revenues for such period , and such increased revenues may not recur in subsequent periods . some of these key customers , as well as other customers of the company , operate in markets that have suffered business downturns in the past few years or may so suffer in the future , particularly in light of the current global economic downturn , and any material adverse change in the financial condition of such customers could materially and adversely affect our financial condition and results of operations . if we are unable to replace such revenue from existing or new customers , the market price of our common stock could decline significantly . we expect that many customers who utilize our solutions will do so as part of a large-scale deployment of these solutions across multiple or all divisions of their organizations . a customer 's decision to deploy our solutions throughout its organization will involve a significant commitment of its resources . accordingly , initial implementations may precede any decision to deploy our solutions enterprise-wide . throughout this sales cycle , we may spend considerable time and expense educating and providing information to prospective customers about the benefits of our solutions . story_separator_special_tag cost of revenues decreased by approximately $ 6.2 million , or 25.2 % , to $ 18.5 million in 2016 from $ 24.8 million for the same period in 2015. the decrease is principally attributable to decreases in cost of products and services in 2016. gross profit was $ 18.3 million in 2016 compared to $ 17.0 million for the same period in 2015. as a percentage of revenues , gross profit increased to 49.7 % in 2016 from 40.8 % in 2015. cost of products decreased by approximately $ 4.0 million , or 22.1 % , to $ 14.0 million in 2016 from $ 18.0 million in the same period in 2015. gross profit for products was $ 7.3 million in 2016 compared to $ 6.5 million in 2015. the increase in gross profit was attributable to an increase of approximately $ 1.4 million in the industrial and rental fleet management gross profit to $ 5.8 million in 2015 from $ 4.3 million in 2015. the transportation asset management gross profit decreased approximately $ 0.6 million to $ 1.6 million in 2015 from $ 2.2 in 2015. as a percentage of product revenues , gross profit increased to 34.3 % in 2016 from 26.6 % in 2015. the increase in gross profit as a percentage of product revenue was due to an increase in the industrial and rental fleet management gross profit percentage to 40.3 % in 2016 from 32.7 % in 2015 , which was principally due to improved customer pricing . the transportation asset management product revenue gross profit percentage increased to 22.2 % in 2016 from 19.4 % in 2015 principally from a decrease in spare parts sales which have a lower gross margin . cost of services decreased by approximately $ 2.3 million , or 33.4 % , to $ 4.5 million in 2015 from $ 6.7 million in 2015. gross profit for services was $ 11.0 million in 2016 compared to $ 10.5 million in 2015. the increase in gross profit was attributable to an increase of approximately $ 1.0 million in the industrial and rental fleet management gross profit to $ 4.7 million in 2016 from $ 3.7 million in 2015 , partially offset by a decrease in the transportation asset management gross profit of approximately $ 0.6 million to $ 6.2 million in 2016 from $ 6.8 million in 2015. as a percentage of service revenues , gross profit increased to 70.9 % in 2016 from 60.9 % in 2015. the increase in gross profit as a percentage of service revenue was principally due to an increase in the industrial and rental fleet management gross profit percentage to 70.8 % in 2016 from 50.1 % in 2015 and an increase in the transportation asset management gross profit percentage to 71.0 % in 2016 from 69.0 % in 2015. the increase in the industrial and rental fleet management gross profit percentage was principally due to a decrease in installation expenses . the increase in transportation asset management gross profit percentage was principally due to a decrease in communication expenses . selling , general and administrative expenses . selling , general and administrative expenses decreased by approximately $ 2.6 million , or 11.5 % , to $ 20.1 million in 2016 compared to $ 22.8 million in the same period in 2015. the decrease was principally from the reduction in workforce and other cost-cutting measures implemented in the second half of 2015 and a $ 0.6 million decrease in professional fees from an unconsummated strategic initiative in 2015 , partially offset by $ 0.4 million increase in severance costs related to the company 's executive management change in december 2016 , and $ 0.4 million increase in foreign currency translation losses . as a percentage of revenues , selling , general and administrative expenses increased to 54.7 % in 2016 from 54.4 % in the same period in 2015 , primarily due to the decrease in revenues from 2016 to 2015. research and development expenses . research and development expenses of approximately $ 4.5 million in 2016 remained generally consistent with research and development expenses in 2015. as a percentage of revenues , research and development expenses increased to 12.3 % in 2016 from 10.9 % in the same period in 2015 , primarily due to the decrease in revenues from 2016 to 2015. interest income . interest income decreased by $ 57,000 , or 16.7 % , to $ 285,000 in 2016 from $ 342,000 in the same period in 2015 principally due to a decrease in interest income from financing receivables . interest expense , interest expense increased to approximately $ 293,000 in 2016 from $ -0- in the same period in 2015 , principally due to an increase in interest expense from the revolving credit facility . net loss . net loss was $ 6.4 million , or $ ( 0.49 ) per basic and diluted share , for 2016 as compared to net loss of $ 10.0 million , or $ ( 0.79 ) per basic and diluted share , for the same period in 2015. the decrease in the net loss was due primarily to the reasons described above . 43 year ended december 31 , 2015 compared to year ended december 31 , 2014 the following table sets forth our revenues by product line for the periods indicated : replace_table_token_8_th revenues . revenues decreased by approximately $ 3.8 million , or 8.4 % , to $ 41.8 million in 2015 from $ 45.6 million in in 2014. the decrease in revenue is attributable to decrease in total industrial and rental fleet management revenue of approximately $ 6.3 million to $ 20.6 million in 2015 from $ 26.9 million in 2014 partially offset by an increase in total transportation asset management revenue of approximately $ 2.5 million to $ 21.2 million in 2015 from $ 18.7 million in 2014. revenues from products decreased by approximately $ 3.9 million ,

liquidity and capital resources historically , our capital requirements have been funded primarily from the net proceeds from the issuance of our securities , including any issuances of our common stock upon the exercise of options . as of december 31 , 2016 , we had cash , cash equivalents and marketable securities of $ 6.9 million and working capital of $ 10.1 million , compared to cash , cash equivalents and marketable securities of $ 6.4 million and working capital of $ 14.1 million as of december 31 , 2015. on september 30 , 2013 , the company entered into an equipment lease for computer equipment . the lease is payable in 24 monthly installments of approximately $ 14,000 , including interest at an annual rate of 12.82 % . the term of the lease commenced in december 2013 and expired in december 2015. capital requirements as of december 31 , 2016 , we had cash , cash equivalents and marketable securities of $ 6.9 million and working capital of $ 10.1 million . the company 's primary sources of cash are cash flows from operating activities and the company 's holdings of cash , cash equivalents and investments and available borrowing capacity under our revolving credit facility . to date , the company has not generated sufficient revenue solely from operating activities to fund its operations . we believe our available working capital , anticipated level of future revenues from the direct sales strategy which focuses on large enterprise customers and reducing inventory , expected cost savings from expense reduction initiatives implemented in the fourth quarter of 2016 , the expected cash flows from operations and available borrowings under the revolving credit facility will provide sufficient funds to cover our capital requirements for at least the next twelve months .


 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 historically , our capital requirements have been funded primarily from the net proceeds from the issuance of our securities , including any issuances of our common stock upon the exercise of options . as of december 31 , 2016 , we had cash , cash equivalents and marketable securities of $ 6.9 million and working capital of $ 10.1 million , compared to cash , cash equivalents and marketable securities of $ 6.4 million and working capital of $ 14.1 million as of december 31 , 2015. on september 30 , 2013 , the company entered into an equipment lease for computer equipment . the lease is payable in 24 monthly installments of approximately $ 14,000 , including interest at an annual rate of 12.82 % . the term of the lease commenced in december 2013 and expired in december 2015. capital requirements as of december 31 , 2016 , we had cash , cash equivalents and marketable securities of $ 6.9 million and working capital of $ 10.1 million . the company 's primary sources of cash are cash flows from operating activities and the company 's holdings of cash , cash equivalents and investments and available borrowing capacity under our revolving credit facility . to date , the company has not generated sufficient revenue solely from operating activities to fund its operations . we believe our available working capital , anticipated level of future revenues from the direct sales strategy which focuses on large enterprise customers and reducing inventory , expected cost savings from expense reduction initiatives implemented in the fourth quarter of 2016 , the expected cash flows from operations and available borrowings under the revolving credit facility will provide sufficient funds to cover our capital requirements for at least the next twelve months .
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 Suspicious Activity Report : we have incurred net losses of approximately $ 11.6 million , $ 10.0 million and $ 6.4 million for the years ended december 31 , 2014 , 2015 and 2016 , respectively , and have incurred additional net losses since inception . as of december 31 , 2016 , we had cash , cash equivalents and marketable securities of $ 6.9 million , working capital of $ 10.1 million , and an accumulated deficit of $ 91.5 million . our primary sources of cash are cash flows from operating activities and the company 's holdings of cash , cash equivalents and investments and available borrowing capacity under our revolving credit facility in an aggregate principal amount of up to $ 7.5 million of which approximately $ 3.0 million was outstanding as of december 31 , 2016. to date , the company has not generated sufficient revenue solely from operating activities to fund our operations . during the year ended december 31 , 2016 , we generated revenues of $ 36.8 million with wal-mart stores , inc. accounting for 18 % of our revenues . during the year ended december 31 , 2015 , we generated revenues of $ 41.8 million with wal-mart stores , inc. accounting for 23 % of our revenues . during the year ended december 31 , 2014 , we generated revenues of $ 45.6 million with wal-mart stores , inc. and the raymond corporation accounting for 16 % and 14 % , respectively , of our revenues . in 2016 , we improved our next generation vehicle management system on-vehicle platform , improved our product line of over-the-road asset management solutions and developed a next-generation rental vehicle management system as described below : ● we expanded our fourth-generation of on-asset hardware for industrial vehicles , the vac4 , to additional sensing capabilities to cover more of the market need , further reduced power consumption , and improved the user interface for intuitiveness and repeatability without extensive on vehicle training . remote reprogramming processes have been expanded to more of the code base , extending the ability for in-field hardware to be upgraded for new and improved ● we expect our latest generation of veriwise intermodal container tracking systems to help our customers maximize container fleet utilization and minimize container idle time by providing more accurate visibility of loading/unloading events and generating real-time data on load status throughout the shipment cycle ; ● we expect our latest generation of veriwise intermodal chassis tracking systems to help our customers accurately bill for chassis rental and usage , and minimize chassis idle time by providing more accurate visibility of container loading/unloading events and by generating real-time data throughout the shipment cycle ; ● we expect our latest generation of veriwise cellular trailer tracking systems to provide our customers with a lower-cost option for dry van trailer tracking when satellite communication is not required ; and ● we expect our latest generation of rentalfleet system to provide a more ubiquitous vehicle rental management solution to satisfy the needs of both car rental companies and shared vehicle fleets . the company entered into a separation and general release agreement ( the “ ellis separation agreement ” ) with norman l. ellis , its former chief operating officer , on december 16 , 2016 and amendment no . 2 to severance agreement ( together with the ellis separation agreement , the “ separation agreements ” ) with kenneth ehrman , its former chief executive officer , on december 20 , 2016. under the terms of the separation agreements , the company recognized severance costs of $ 637,000 which are included in selling , general and administrative expenses . in addition , a pro-rata portion of mr. ehrman 's unvested stock options and restricted stock were partially vested based on the number of months elapsed since the date of grant as compared to the scheduled vesting date . due to the modification of the terms of the stock option and restricted stock agreements , the company recognized a $ ( 26,000 ) reduction of stock-based compensation expense which is included in the stock option and restricted stock stock-based compensation expense . 36 we are highly dependent upon sales of our system to a few customers . the loss of any of these key customers , or any material reduction in the amount of our products they purchase during a particular period , could materially and adversely affect our revenues for such period . conversely , a material increase in the amount of our products purchased by a key customer ( or customers ) during a particular period could result in a significant increase in our revenues for such period , and such increased revenues may not recur in subsequent periods . some of these key customers , as well as other customers of the company , operate in markets that have suffered business downturns in the past few years or may so suffer in the future , particularly in light of the current global economic downturn , and any material adverse change in the financial condition of such customers could materially and adversely affect our financial condition and results of operations . if we are unable to replace such revenue from existing or new customers , the market price of our common stock could decline significantly . we expect that many customers who utilize our solutions will do so as part of a large-scale deployment of these solutions across multiple or all divisions of their organizations . a customer 's decision to deploy our solutions throughout its organization will involve a significant commitment of its resources . accordingly , initial implementations may precede any decision to deploy our solutions enterprise-wide . throughout this sales cycle , we may spend considerable time and expense educating and providing information to prospective customers about the benefits of our solutions . story_separator_special_tag cost of revenues decreased by approximately $ 6.2 million , or 25.2 % , to $ 18.5 million in 2016 from $ 24.8 million for the same period in 2015. the decrease is principally attributable to decreases in cost of products and services in 2016. gross profit was $ 18.3 million in 2016 compared to $ 17.0 million for the same period in 2015. as a percentage of revenues , gross profit increased to 49.7 % in 2016 from 40.8 % in 2015. cost of products decreased by approximately $ 4.0 million , or 22.1 % , to $ 14.0 million in 2016 from $ 18.0 million in the same period in 2015. gross profit for products was $ 7.3 million in 2016 compared to $ 6.5 million in 2015. the increase in gross profit was attributable to an increase of approximately $ 1.4 million in the industrial and rental fleet management gross profit to $ 5.8 million in 2015 from $ 4.3 million in 2015. the transportation asset management gross profit decreased approximately $ 0.6 million to $ 1.6 million in 2015 from $ 2.2 in 2015. as a percentage of product revenues , gross profit increased to 34.3 % in 2016 from 26.6 % in 2015. the increase in gross profit as a percentage of product revenue was due to an increase in the industrial and rental fleet management gross profit percentage to 40.3 % in 2016 from 32.7 % in 2015 , which was principally due to improved customer pricing . the transportation asset management product revenue gross profit percentage increased to 22.2 % in 2016 from 19.4 % in 2015 principally from a decrease in spare parts sales which have a lower gross margin . cost of services decreased by approximately $ 2.3 million , or 33.4 % , to $ 4.5 million in 2015 from $ 6.7 million in 2015. gross profit for services was $ 11.0 million in 2016 compared to $ 10.5 million in 2015. the increase in gross profit was attributable to an increase of approximately $ 1.0 million in the industrial and rental fleet management gross profit to $ 4.7 million in 2016 from $ 3.7 million in 2015 , partially offset by a decrease in the transportation asset management gross profit of approximately $ 0.6 million to $ 6.2 million in 2016 from $ 6.8 million in 2015. as a percentage of service revenues , gross profit increased to 70.9 % in 2016 from 60.9 % in 2015. the increase in gross profit as a percentage of service revenue was principally due to an increase in the industrial and rental fleet management gross profit percentage to 70.8 % in 2016 from 50.1 % in 2015 and an increase in the transportation asset management gross profit percentage to 71.0 % in 2016 from 69.0 % in 2015. the increase in the industrial and rental fleet management gross profit percentage was principally due to a decrease in installation expenses . the increase in transportation asset management gross profit percentage was principally due to a decrease in communication expenses . selling , general and administrative expenses . selling , general and administrative expenses decreased by approximately $ 2.6 million , or 11.5 % , to $ 20.1 million in 2016 compared to $ 22.8 million in the same period in 2015. the decrease was principally from the reduction in workforce and other cost-cutting measures implemented in the second half of 2015 and a $ 0.6 million decrease in professional fees from an unconsummated strategic initiative in 2015 , partially offset by $ 0.4 million increase in severance costs related to the company 's executive management change in december 2016 , and $ 0.4 million increase in foreign currency translation losses . as a percentage of revenues , selling , general and administrative expenses increased to 54.7 % in 2016 from 54.4 % in the same period in 2015 , primarily due to the decrease in revenues from 2016 to 2015. research and development expenses . research and development expenses of approximately $ 4.5 million in 2016 remained generally consistent with research and development expenses in 2015. as a percentage of revenues , research and development expenses increased to 12.3 % in 2016 from 10.9 % in the same period in 2015 , primarily due to the decrease in revenues from 2016 to 2015. interest income . interest income decreased by $ 57,000 , or 16.7 % , to $ 285,000 in 2016 from $ 342,000 in the same period in 2015 principally due to a decrease in interest income from financing receivables . interest expense , interest expense increased to approximately $ 293,000 in 2016 from $ -0- in the same period in 2015 , principally due to an increase in interest expense from the revolving credit facility . net loss . net loss was $ 6.4 million , or $ ( 0.49 ) per basic and diluted share , for 2016 as compared to net loss of $ 10.0 million , or $ ( 0.79 ) per basic and diluted share , for the same period in 2015. the decrease in the net loss was due primarily to the reasons described above . 43 year ended december 31 , 2015 compared to year ended december 31 , 2014 the following table sets forth our revenues by product line for the periods indicated : replace_table_token_8_th revenues . revenues decreased by approximately $ 3.8 million , or 8.4 % , to $ 41.8 million in 2015 from $ 45.6 million in in 2014. the decrease in revenue is attributable to decrease in total industrial and rental fleet management revenue of approximately $ 6.3 million to $ 20.6 million in 2015 from $ 26.9 million in 2014 partially offset by an increase in total transportation asset management revenue of approximately $ 2.5 million to $ 21.2 million in 2015 from $ 18.7 million in 2014. revenues from products decreased by approximately $ 3.9 million ,

