v3.19.2
Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Cash flows from operating activities    
Net loss $ (11,798,000) $ (14,328,000)
Adjustments to reconcile net income (loss) to net cash used in operating activities:    
Depreciation and amortization 453,000 490,000
Provision for (recovery of) doubtful accounts (7,000) 4,000
Provision for discounts, rebates, distributor fees and returns (832,000) 603,000
Provision for obsolete inventory 77,000 44,000
Stock-based compensation 1,635,000 2,500,000
Loss on disposal of equipment 21,000 0
Changes in operating assets and liabilities:    
Accounts receivable (1,164,000) 11,000
Inventories (779,000) (583,000)
Deferred consideration, net of discount 135,000 222,000
Prepaid expenses and other current assets 574,000 (1,065,000)
Accounts payable 5,000 9,000
Accrued expenses and other current liabilities 115,000 48,000
Deferred revenue (152,000) (394,000)
Net cash used in operating activities (11,717,000) (12,439,000)
Cash flows from investing activities:    
Purchases of property and equipment (100,000) (187,000)
Deposits (31,000) (14,000)
Net cash used in investing activities (131,000) (201,000)
Cash flows from financing activities:    
Proceeds from sale of common stock net of offering costs 957,000 968,000
Proceeds from sale of common stock and preferred stock units, net of offering costs 4,743,000 4,500,000
Proceeds from exercise of common stock options 0 5,000
Proceeds from exercise of common stock purchase warrants 0 47,000
Proceeds from common stock liability 270,000 0
Principal payments on long-term debt (154,000) (148,000)
Principal payments on capital leases (324,000) (132,000)
Net cash provided by financing activities 5,492,000 5,240,000
Effect of exchange rate on cash and cash equivalents (21,000) 5,000
Net (decrease) increase in cash and cash equivalents (6,377,000) (7,395,000)
Cash and cash equivalents, beginning of year 10,066,000 17,461,000
Cash and cash equivalents, end of year 3,689,000 10,066,000
Supplemental disclosure of cash flow information:    
Cash paid for interest 33,000 40,000
Non-cash operating and financing activities:    
Insurance premiums financed $ 396,000 $ 241,000

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