Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Mar. 31, 2016
Mar. 31, 2015
Cash flows from operating activities    
Net loss $ (10,162) $ (8,203)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 244 253
Change in provision for doubtful accounts (5) 29
Change in provision for discounts, rebates, distributor fees and returns 470 183
Change in provision for obsolete inventory 77 141
Stock-based compensation 2,341 1,771
Change in fair value of derivative liabilities (11) (3,164)
Impairment loss on long-term investment 0 4,650
Foreign currency transaction (gain) loss (38) 24
Gain on disposal of property and equipment 0 (13)
Changes in operating assets and liabilities:    
Accounts receivable (1,282) (143)
Due from affiliate 0 537
Inventories (382) (627)
Prepaid expenses and other current assets (751) 162
Accounts payable 429 222
Accrued expenses and other current liabilities 919 (1)
Deferred revenue and other liabilities (595) (2,515)
Net cash used in operating activities (8,746) (6,694)
Cash flows from investing activities:    
Purchases of property and equipment (345) (139)
Proceeds from sale of long-term investment 4,538 963
Long-term deposits (2) 51
Net cash provided by investing activities 4,191 875
Cash flows from financing activities:    
Proceeds from issuance of common stock and common stock purchase warrants in offerings, net of offering costs 6,144 6,785
Proceeds from issuance of common stock upon exercise of stock options and warrants 14 0
Principal payments on long-term debt (119) (176)
Net cash provided by financing activities 6,039 6,609
Effect of exchange rate on cash and cash equivalents (151) (134)
Net increase in cash and cash equivalents 1,333 656
Cash and cash equivalents, beginning of year 6,136 5,480
Cash and cash equivalents, end of year 7,469 6,136
Supplemental disclosure of cash flow information:    
Cash paid for interest 3 3
Non-cash operating and financing activities:    
Insurance premiums financed 146 116
Issuance of common stock to settle obligations $ 96 $ 76