Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 9 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Cash flows from operating activities    
Net loss $ (3,768) $ (3,843)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 135 91
Stock-based compensation 447 569
Deferred income taxes 92 (244)
Changes in operating assets and liabilities:    
Accounts receivable, net (221) 129
Inventories, net (93) (162)
Prepaid expenses and other current assets 546 572
Operating lease right-of-use assets 99 94
Deferred consideration 161 129
Accounts payable (12) (353)
Accrued expenses and other current liabilities (226) 346
Deferred revenue 33 (1,204)
Withholding tax payable 356 259
Operating lease liabilities (99) (94)
Net cash used in operating activities (2,550) (3,711)
Cash flows from investing activities:    
Purchases of property and equipment (20) (79)
Deposits 0 (97)
Net cash used in investing activities (20) (176)
Cash flows from financing activities:    
Proceeds from issuance of common stock, net of issuance costs 1,446 0
Payments of ATM agreement costs (5) (89)
Payments on PPP Loan 0 (120)
Principal payments on short-term debt (387) (674)
Net cash provided by (used in) financing activities 1,054 (883)
Effect of exchange rate on cash and cash equivalents 102 8
Net decrease in cash and cash equivalents (1,414) (4,762)
Cash and cash equivalents, beginning of period 3,820 7,396
Cash and cash equivalents, end of period 2,406 2,634
Supplemental disclosure of cash flow information:    
Cash paid for interest $ 15 $ 12