Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.21.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 6 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Cash flows from operating activities    
Net income (loss) $ (1,198,000) $ 360,000
Adjustments to reconcile net income (loss) to net cash used in operating activities:    
Depreciation and amortization 100,000 107,000
Forgiveness of PPP loan (723,000) 0
Stock-based compensation 114,000 223,000
Gain on sale of assets 0 (770,000)
Changes in operating assets and liabilities:    
Accounts receivable (595,000) (705,000)
Inventories 60,000 (1,386,000)
Deferred consideration 76,000 65,000
Prepaid expenses and other current assets (283,000) (273,000)
Operating lease right-of-use assets 76,000 330,000
Accounts payable 99,000 706,000
Accrued expenses and other current liabilities (169,000) (860,000)
Withholding tax payable 184,000 0
Operating lease liabilities (74,000) (343,000)
Deferred revenue (194,000) (102,000)
Net cash used in operating activities (2,527,000) (2,648,000)
Cash flows from investing activities:    
Purchases of property and equipment (74,000) (97,000)
Deposits 36,000 (38,000)
Proceeds from sale of assets 0 610,000
Net cash (used in) provided by investing activities (38,000) 475,000
Cash flows from financing activities:    
Proceeds from issuance of common stock, net of issuance costs 6,892,000 0
Proceeds from exercise of common stock options and purchase warrants 216,000 1,919,000
Proceeds from PPP loan 0 1,310,000
Principal payments on long-term debt (397,000) (432,000)
Net cash provided by financing activities 6,711,000 2,797,000
Effect of exchange rate on cash and cash equivalents 26,000 5,000
Net increase in cash and cash equivalents 4,172,000 629,000
Cash and cash equivalents, beginning of period 4,220,000 3,691,000
Cash and cash equivalents, end of period 8,392,000 4,320,000
Supplemental disclosure of cash flow information:    
Cash paid for interest $ 8,000 $ 4,000