Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.23.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash flows from operating activities    
Net loss $ (1,418) $ (887)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 45 31
Stock-based compensation 177 214
Deferred income tax expense 90 (40)
Changes in operating assets and liabilities:    
Accounts receivable 191 (73)
Inventories 230 (175)
Deferred consideration 49 41
Prepaid expenses and other current assets (84) (76)
Operating lease right-of-use assets 79 31
Accounts payable 214 423
Accrued expenses and other current liabilities 180 114
Withholding tax payable 122 95
Operating lease liabilities (79) (94)
Deferred revenue (11) (1,137)
Net cash used in operating activities (215) (1,533)
Cash flows from investing activities:    
Purchases of property and equipment (17) (23)
Net cash used in investing activities (17) (23)
Cash flows from financing activities:    
Payment on ATM agreement offering (5) 0
Principal payments on PPP loan 0 (120)
Payment of long-term deposits 0 (37)
Principal payments on short-term debt (130) (230)
Net cash used in financing activities (135) (387)
Effect of exchange rate on cash and cash equivalents 91 133
Net decrease in cash and cash equivalents (276) (1,810)
Cash and cash equivalents, beginning of period 3,820 7,396
Cash and cash equivalents, end of period 3,544 5,586
Supplemental disclosure of cash flow information:    
Cash paid for interest 5 4
Cash paid for taxes $ 0 $ 55