Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.7.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Cash flows from operating activities    
Net loss from continuing operations $ (8,669) $ (14,724)
Net income from discontinued operations, net of tax 17,943 4,562
Net income (loss) 9,274 (10,162)
Adjustments to reconcile net income (loss) to net cash used in operating activities:    
Depreciation and amortization 248 244
Change in provision for doubtful accounts (1) (5)
Change in provision for discounts, rebates, distributor fees and returns 19 470
Change in provision for obsolete inventory 0 77
Gain on sale of Latin American assets, net of tax (15,399) 0
Income tax benefit (4,268) 0
Stock-based compensation 2,145 2,151
Service provider expenses settled with common stock 98 190
Gain due to change in fair value of derivative liabilities 0 (11)
Foreign currency transaction gains (36) (38)
Loss on disposal of property and equipment 10 0
Changes in operating assets and liabilities:    
Accounts receivable 34 (1,282)
Inventories (675) (382)
Prepaid expenses and other current assets 979 (751)
Accounts payable (58) 429
Accrued expenses and other current liabilities (298) 919
Deferred revenue (239) (595)
Net cash used in operating activities (8,167) (8,746)
Cash flows from investing activities:    
Purchases of property and equipment (394) (345)
Proceeds from sale of long-term investment 0 4,538
Proceeds from sale of Latin American assets, net of costs 18,639 0
Deposits (21) (2)
Net cash provided by investing activities 18,224 4,191
Cash flows from financing activities:    
Proceeds from issuance of common stock net of offering costs 0 6,144
Proceeds from exercise of common stock options 7 0
Proceeds from exercise of common stock purchase warrants 91 14
Principal payments on long-term debt (130) (119)
Net cash (used in) provided by financing activities (32) 6,039
Effect of exchange rate on cash and cash equivalents (33) (151)
Net increase in cash and cash equivalents 9,992 1,333
Cash and cash equivalents, beginning of year 7,469 6,136
Cash and cash equivalents, end of year 17,461 7,469
Supplemental disclosure of cash flow information:    
Cash paid for interest 3 3
Non-cash operating and financing activities:    
Service provider expenses settled with common stock 98 96
Insurance premiums financed 120 146
Automobiles financed using long-term debt 64 0
Automobiles financed using capital leases 242 0
Sale of Latin American assets to Invekra: Assets sold and liabilities transferred:    
Deferred consideration - current, net 237 0
Deferred consideration - long-term, net 1,497 0
Taxes payable (13) 0
Deferred revenue - current (176) 0
Deferred revenue - long-term (527) 0
Total assets sold and liabilities transferred $ 1,018 $ 0