Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.6.0.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 9 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Cash flows from operating activities    
Net loss from continuing operations $ (5,740,000) $ (11,058,000)
Net income from discontinued operations, net of tax 17,450,000 3,806,000
Net income (loss) 11,710,000 (7,252,000)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Depreciation and amortization 178,000 182,000
Gain on sale of Latin American assets, net of tax (14,906,000) 0
Income tax benefit (4,040,000) 0
Stock-based compensation 1,732,000 1,459,000
Service provider expenses settled with common stock 98,000 190,000
Gain due to change in fair value of derivative liabilities 0 (10,000)
Foreign currency transaction gains (13,000) (42,000)
Changes in operating assets and liabilities:    
Accounts receivable (105,000) (1,351,000)
Inventories (644,000) (319,000)
Prepaid expenses and other current assets 1,104,000 (106,000)
Accounts payable (205,000) 569,000
Accrued expenses and other current liabilities 86,000 277,000
Deferred revenue (467,000) (621,000)
Net cash (used in) operating activities (5,472,000) (7,024,000)
Cash flows from investing activities:    
Purchases of property and equipment (195,000) (353,000)
Proceeds from sale of long-term investment 0 4,538,000
Proceeds from sale of Latin American assets, net of costs 17,444,000 0
Deposits (17,000) (5,000)
Net cash provided by investing activities 17,232,000 4,180,000
Cash flows from financing activities:    
Proceeds from issuance of common stock, net of offering costs 0 2,949,000
Proceeds from exercise of common stock purchase warrants 0 14,000
Principal payments on long-term debt (119,000) (87,000)
Net cash (used in) provided by financing activities (119,000) 2,876,000
Effect of exchange rate on cash and cash equivalents (127,000) (55,000)
Net increase (decrease) in cash and cash equivalents 11,514,000 (23,000)
Cash and cash equivalents, beginning of period 7,469,000 6,136,000
Cash and cash equivalents, end of period 18,983,000 6,113,000
Supplemental disclosure of cash flow information:    
Cash paid for interest 2,000 0
Non-cash operating and financing activities:    
Issuance of common stock to settle obligation 0 96,000
Assets acquired and liabilities assumed:    
Restricted cash 1,500,000 0
Deferred consideration - current, net 239,000 0
Deferred consideration - long-term, net 1,509,000 0
Taxes payable (229,000) 0
Deferred tax liability (312,000) 0
Deferred revenue - current (674,000) 0
Deferred revenue - long-term (531,000) 0
Total non-cash items $ 1,502,000 $ 0