Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash flows from operating activities:    
Net loss $ (1,143) $ (1,418)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 39 45
Stock-based compensation 107 177
Deferred income tax expense 122 90
Operating lease right-of-use asset 55 79
Changes in operating assets and liabilities:    
Accounts receivable, net (470) 191
Inventories, net (114) 230
Prepaid expenses and other current assets 59 (84)
Deferred consideration, net of discount 53 49
Accounts payable 182 214
Accrued expenses and other current liabilities 186 180
Withholding tax payable 112 122
Operating lease liabilities (55) (79)
Deferred revenue (45) (11)
Net cash used in operating activities (912) (215)
Cash flows from investing activities:    
Purchases of property and equipment (5) (17)
Net cash used in investing activities (5) (17)
Cash flows from financing activities:    
Proceeds (costs) from issuance of common stock, net of offering expenses 748 (5)
Proceeds from exercise of employee stock options 7 0
Principal payments on short-term debt (119) (130)
Net cash provided by (used in) financing activities 636 (135)
Effect of exchange rate on cash and cash equivalents (258) 91
Net decrease in cash and cash equivalents (539) (276)
Cash and cash equivalents, beginning of period 3,128 3,820
Cash and cash equivalents, end of period 2,589 3,544
Supplemental disclosure of cash flow information:    
Cash paid for interest $ 5 $ 5