Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v2.4.1.9
Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
 12 Months Ended
Mar. 31, 2015
Mar. 31, 2014
Cash flows from operating activities    
Net (loss) income $ (8,203)us-gaap_NetIncomeLoss $ 3,735us-gaap_NetIncomeLoss
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 253us-gaap_DepreciationDepletionAndAmortization 284us-gaap_DepreciationDepletionAndAmortization
Provision for doubtful accounts 29us-gaap_ProvisionForDoubtfulAccounts (6)us-gaap_ProvisionForDoubtfulAccounts
Provision for obsolete inventory 141us-gaap_InventoryWriteDown 6us-gaap_InventoryWriteDown
Stock-based compensation 1,771us-gaap_ShareBasedCompensation 1,451us-gaap_ShareBasedCompensation
(Gain) loss due to change in fair value of derivative liabilities (3,164)us-gaap_UnrealizedGainLossOnDerivatives 1,566us-gaap_UnrealizedGainLossOnDerivatives
Impairment loss on long-term investment (See Note 3) 4,650us-gaap_GainLossOnInvestments 0us-gaap_GainLossOnInvestments
Gain on deconsolidation of Ruthigen (See Note 8) 0us-gaap_DeconsolidationGainOrLossAmount (11,133)us-gaap_DeconsolidationGainOrLossAmount
Gain due to change in fair value of common stock (See Note 10) 0ocls_GainLossDueToChangeInFairValueOfCommonStock (1,357)ocls_GainLossDueToChangeInFairValueOfCommonStock
Non-cash interest expense 0us-gaap_OtherNoncashExpense 863us-gaap_OtherNoncashExpense
Foreign currency transaction loss (gain) 24us-gaap_OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax (6)us-gaap_OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
(Gain) loss on disposal of property and equipment (13)us-gaap_GainLossOnDispositionOfAssets 39us-gaap_GainLossOnDispositionOfAssets
Changes in operating assets and liabilities:    
Accounts receivable 40us-gaap_IncreaseDecreaseInAccountsReceivable (88)us-gaap_IncreaseDecreaseInAccountsReceivable
Due from affiliate 537us-gaap_IncreaseDecreaseDueFromAffiliates (537)us-gaap_IncreaseDecreaseDueFromAffiliates
Inventories (627)us-gaap_IncreaseDecreaseInInventories (126)us-gaap_IncreaseDecreaseInInventories
Prepaid expenses and other current assets 162us-gaap_IncreaseDecreaseInPrepaidExpense 458us-gaap_IncreaseDecreaseInPrepaidExpense
Accounts payable 222us-gaap_IncreaseDecreaseInAccountsPayable 848us-gaap_IncreaseDecreaseInAccountsPayable
Accrued expenses and other liabilities (1)us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities 271us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
Deferred revenue and other liabilities (2,515)us-gaap_IncreaseDecreaseInDeferredRevenue (1,158)us-gaap_IncreaseDecreaseInDeferredRevenue
Net cash used in operating activities (6,694)us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations (4,890)us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
Cash flows from investing activities:    
Purchases of property and equipment (139)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment (504)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment
Proceeds from sale of long-term investment 963us-gaap_ProceedsFromSaleMaturityAndCollectionsOfInvestments 0us-gaap_ProceedsFromSaleMaturityAndCollectionsOfInvestments
Long-term deposits 51us-gaap_IncreaseDecreaseInDeposits 59us-gaap_IncreaseDecreaseInDeposits
Net cash provided by (used in) investing activities 875us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations (445)us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
Cash flows from financing activities:    
Proceeds from issuance of common stock and common stock purchase warrants in offerings, net of offering costs 6,785us-gaap_ProceedsFromIssuanceOrSaleOfEquity 3,188us-gaap_ProceedsFromIssuanceOrSaleOfEquity
Deferred offering costs 0us-gaap_PaymentsOfDebtIssuanceCosts 44us-gaap_PaymentsOfDebtIssuanceCosts
Proceeds from the exercise of common stock upon exercise of stock options and warrants 0us-gaap_ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions 1,295us-gaap_ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
Proceeds from cash settlement liability (See Note 10) 0ocls_ProceedsFromCashSettlementLiability 33ocls_ProceedsFromCashSettlementLiability
Principal payments on long-term debt (176)us-gaap_RepaymentsOfLongTermDebt (1,615)us-gaap_RepaymentsOfLongTermDebt
Net cash provided by financing activities 6,609us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations 2,945us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
Effect of exchange rate on cash and cash equivalents (134)us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents (30)us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents
Net increase (decrease) in cash and cash equivalents 656us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease (2,420)us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease
Cash and cash equivalents, beginning of year 5,480us-gaap_CashAndCashEquivalentsAtCarryingValue 7,900us-gaap_CashAndCashEquivalentsAtCarryingValue
Cash and cash equivalents, end of year 6,136us-gaap_CashAndCashEquivalentsAtCarryingValue 5,480us-gaap_CashAndCashEquivalentsAtCarryingValue
Supplemental disclosure of cash flow information:    
Cash paid for interest 3us-gaap_InterestPaid 195us-gaap_InterestPaid
Non-cash operating and financing activities:    
Insurance premiums financed 116ocls_InsurancePremiumsFinanced 188ocls_InsurancePremiumsFinanced
Issuance of common stock to settle obligations 76ocls_IssuanceOfCommonStockToSettleObligations 0ocls_IssuanceOfCommonStockToSettleObligations
Non-cash investing and financing activities:    
Debt settled in connection with stock purchase agreement (See Note 10) 0ocls_DebtSettledInConnectionWithStockPurchaseAgreement 1,131ocls_DebtSettledInConnectionWithStockPurchaseAgreement
Cash settlement liability settled in connection with stock purchase agreement (See Note 10) 0ocls_CashSettlementLiabilitySettledInConnectionWithStockPurchaseAgreement 2,000ocls_CashSettlementLiabilitySettledInConnectionWithStockPurchaseAgreement
Reclassification of derivative liabilities to paid in capital 0ocls_ReclassificationOfDerivativeLiabilitiesToPaidInCapital 1,683ocls_ReclassificationOfDerivativeLiabilitiesToPaidInCapital
Warrants issued as derivative liabilities in connection with registered direct offering $ 0ocls_WarrantsIssuedAsDerivativeLiabilitiesInConnectionWithRegisteredDirectOffering $ 3,292ocls_WarrantsIssuedAsDerivativeLiabilitiesInConnectionWithRegisteredDirectOffering