Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

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Condensed Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
 9 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Net loss $ (5,561) $ (6,254)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 245 282
Stock-based compensation 2,339 1,839
Change in fair value of derivative liability (303) (199)
Non-cash interest expense 303 103
Foreign currency transaction losses 8 4
Loss on disposal of assets   3
Changes in operating assets and liabilities:    
Accounts receivable (61) (304)
Inventories (361) (53)
Prepaid expenses and other current assets 314 415
Accounts payable 241 (138)
Accrued expenses and other liabilities 118 (53)
Net cash used in operating activities (2,718) (4,355)
Cash flows from investing activities:    
Change in long-term deposits (147) 10
Purchases of property and equipment (78) (73)
Net cash used in investing activities (225) (63)
Cash flows from financing activities:    
Proceeds from issuance of common stock, net of offering costs 1,894  
Proceeds from the exercise of common stock options and warrants 52 29
Proceeds from issuance of long-term debt 2,500 3,000
Principal payments on long-term debt (865) (202)
Net cash provided by financing activities 3,581 2,827
Effect of exchange rate on cash and cash equivalents (48) 6
Net increase (decrease) in cash and cash equivalents 590 (1,585)
Cash and equivalents, beginning of period 4,371 6,258
Cash and equivalents, end of period 4,961 4,673
Supplemental disclosure of cash flow information:    
Cash paid for interest 349 153
Equipment financed   67
Non-cash financing activities:    
Obligations settled with common stock   57
Debt discount in connection with long-term debt $ 1,250 $ 750