Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows (Unaudited)

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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 9 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Cash flows from operating activities    
Net loss $ (3,843) $ (2,142)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 91 137
Forgiveness of PPP loan (723)
Stock-based compensation 569 170
Gain on sale of assets (1) (150)
Changes in operating assets and liabilities:    
Accounts receivable 129 (58)
Inventories (162) (366)
Deferred consideration 129 (2)
Prepaid expenses and other current assets 572 114
Operating lease right-of-use assets 94 148
Accounts payable (353) (189)
Accrued expenses and other current liabilities 346 137
Deferred tax asset (243) 0
Withholding tax payable 259 273
Operating lease liabilities (94) (145)
Deferred revenue (1,204) (57)
Net cash used in operating activities (3,711) (2,853)
Cash flows from investing activities:    
Purchases of property and equipment (79) (75)
Deposits (97) 37
Net cash used in investing activities (176) (38)
Cash flows from financing activities:    
Proceeds from issuance of common stock, net of issuance costs 0 7,554
Proceeds from exercise of common stock options and purchase warrants 0 216
Payments on PPP Loan (120) 0
Payments on offering costs (89) 0
Principal payments on long-term debt (674) (596)
Net cash provided by (used in) financing activities (883) 7,174
Effect of exchange rate on cash and cash equivalents 8 26
Net (decrease) increase in cash and cash equivalents (4,762) 4,309
Cash and cash equivalents, beginning of period 7,396 4,220
Cash and cash equivalents, end of period 2,634 8,529
Supplemental disclosure of cash flow information:    
Cash paid for interest $ 12 $ 12