v3.22.0.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Cash flows from operating activities    
Net income (loss) $ (2,142,000) $ (290,000)
Adjustments to reconcile net income (loss) to net cash used in operating activities:    
Depreciation and amortization 137,000 187,000
Forgiveness of PPP loan (723,000)
Stock-based compensation 170,000 316,000
Gain on sale of assets (150,000) (770,000)
Changes in operating assets and liabilities:    
Accounts receivable (58,000) 464,000
Inventories (366,000) (403,000)
Prepaid expenses and other current assets 114,000 (413,000)
Deferred consideration (2,000) 110,000
Operating lease, right of use assets 148,000 306,000
Accounts payable (189,000) (168,000)
Accrued expenses and other current liabilities 137,000 (779,000)
Deferred revenue (57,000) (119,000)
Operating lease liabilities (145,000) (343,000)
Withholding tax payable 273,000
Net cash used in operating activities (2,853,000) (1,902,000)
Cash flows from investing activities:    
Purchases of property and equipment (75,000) (174,000)
Other assets 37,000 (44,000)
Proceeds from sale of assets 0 610,000
Net cash (used in) provided by investing activities (38,000) 392,000
Cash flows from financing activities:    
Proceeds from issuance of common stock, net of issuance costs 7,554,000 0
Proceeds from exercise of common stock options and purchase warrants 216,000 2,210,000
Proceeds from PPP loan 0 1,310,000
Principal payments on long-term debt (596,000) (481,000)
Net cash provided by financing activities 7,174,000 3,039,000
Effect of exchange rate on cash and cash equivalents 26,000 321,000
Net increase in cash and cash equivalents 4,309,000 1,850,000
Cash and cash equivalents, beginning of period 4,220,000 3,691,000
Cash and cash equivalents, end of period 8,529,000 5,541,000
Supplemental disclosure of cash flow information:    
Cash paid for interest $ 12,000 $ 12,000

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