Annual report pursuant to Section 13 and 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Mar. 31, 2016
Mar. 31, 2015
Mar. 31, 2014
Cash Flows from Operating Activities:      
Net loss $ (25,191) $ (31,533) $ (16,256)
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation and amortization 1,746 1,697 2,323
Amortization of deferred financing costs 172 196 223
Interest on restricted cash (2)    
Accounts receivable allowances (1,459) 10,138 242
Inventory provision 1,925 2,810 1,509
Provision for warranty expenses 111 3,463 3,903
Loss on disposal of equipment 27 (96) 225
Stock-based compensation 2,570 2,236 2,147
Change in fair value of warrant liability     (10)
Changes in operating assets and liabilities:      
Accounts receivable 1,021 4,761 (10,320)
Inventories 5,161 (7,125) (784)
Prepaid expenses and other current assets 314 (1,075) 470
Accounts payable and accrued expenses (8,317) (5,960) 4,475
Accrued salaries and wages and long term liabilities (210) 321 90
Accrued warranty reserve (1,655) (3,245) (3,237)
Deferred revenue 1,317 394 (432)
Net cash used in operating activities (22,470) (23,018) (15,432)
Cash Flows from Investing Activities:      
Expenditures for property and equipment (1,513) (1,606) (1,179)
Net cash used in investing activities (1,513) (1,606) (1,179)
Cash Flows from Financing Activities:      
Net proceeds from (repayments of) revolving credit facility (3,494) (275) (248)
Changes in restricted cash (5,000)    
Repayment of notes payable and capital lease obligations (697) (647) (415)
Net proceeds from ( cash used in) provided by employee stock-based transactions (91) 136 362
Net proceeds from equity issuances 12,748 29,772 5,954
Net cash (used in) provided by financing activities 3,466 28,986 5,653
Net (decrease) increase in Cash and Cash Equivalents (20,517) 4,362 (10,958)
Cash and Cash Equivalents, Beginning of Period 32,221 27,859 38,817
Cash and Cash Equivalents, End of Period 11,704 32,221 27,859
Cash paid during the period for:      
Interest 473 354 506
Income taxes 24 129 246
Supplemental Disclosures of Non-Cash Information:      
Acquisition of property and equipment through accounts payable 28 154 7
Renewal of insurance contracts which was financed by notes payable 477 447 491
Acquisition of property and equipment in consideration for the issuance of a note payable $ 101 $ 418 $ 158