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 $)
 6 Months Ended
Sep. 30, 2011
Sep. 30, 2010
Cash Flows from Operating Activities:    
Net loss $ (1,632,000) $ (1,533,000)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 1,679,000 1,960,000
Amortization of deferred financing costs 97,000 97,000
Interest expense on second funding liability   80,000
Provision for allowance for doubtful accounts 194,000  
Inventory write-down (recovery) 573,000 (52,000)
Provision for warranty expenses 2,342,000 961,000
Loss on disposal of equipment   20,000
Stock-based compensation 862,000 1,333,000
Change in fair value of warrant liability (14,220,000) (16,181,000)
Changes in operating assets and liabilities:    
Accounts receivable (4,077,000) (6,226,000)
Inventories (4,583,000) 1,774,000
Prepaid expenses and other current assets 322,000 (1,763,000)
Accounts payable and accrued expenses (501,000) (818,000)
Accrued salaries and wages and long term liabilities 26,000 (274,000)
Accrued warranty reserve (1,924,000) (1,137,000)
Deferred revenue 1,052,000 599,000
Net cash used in operating activities (19,790,000) (21,160,000)
Cash Flows from Investing Activities:    
Acquisition of and deposits on equipment and leasehold improvements (689,000) (616,000)
Changes in restricted cash 1,250,000 (5,000,000)
Net cash provided by (used in) investing activities 561,000 (5,616,000)
Cash Flows from Financing Activities:    
Net proceeds (repayment) from revolving credit facility 5,255,000 (134,000)
Repayment of notes payable and capital lease obligations (197,000) (96,000)
Net cash (used in) proceeds from employee stock-based transactions (33,000) 6,000
Proceeds from exercise of common stock warrants 1,083,000  
Net cash provided by (used in) financing activities 6,108,000 (224,000)
Net decrease in Cash and Cash Equivalents (13,121,000) (27,000,000)
Cash and Cash Equivalents, Beginning of Period 33,456,000 47,270,000
Cash and Cash Equivalents, End of Period 20,335,000 20,270,000
Cash paid during the period for:    
Interest 318,000 339,000
Income taxes 0  
Supplemental Disclosures of Non-Cash Information:    
Fixed asset purchases included in accounts payable 37,000 27,000
Issuance of common stock to Calnetix Power Solutions, Inc., acquisition of the Calnetix microturbine generator product line (in shares)   3,131,313
Fair value of the remaining consideration to be paid in connection with the acquisition of the Calnetix microturbine generator line   $ 3,100,000