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 ($)
 9 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Cash Flows from Operating Activities:    
Net loss $ (8,083,000) $ (21,068,000)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 854,000 1,186,000
Amortization of deferred financing costs 168,000 129,000
Reduction in accounts receivable allowances (771,000) (1,384,000)
Inventory provision 1,027,000 824,000
Provision for warranty expenses 610,000 6,462,000
Loss on disposal of equipment 25,000 170,000
Stock-based compensation 409,000 653,000
Change in warrant valuation 741,000  
Warrant issuance expenses   421,000
Changes in operating assets and liabilities:    
Accounts receivable 1,697,000 1,747,000
Inventories (791,000) 763,000
Prepaid expenses and other current assets (252,000) (334,000)
Accounts payable and accrued expenses (1,769,000) (1,134,000)
Accrued salaries and wages and long term liabilities (598,000) (464,000)
Accrued warranty reserve (2,616,000) (3,790,000)
Deferred revenue 181,000 212,000
Net cash used in operating activities (9,168,000) (15,607,000)
Cash Flows from Investing Activities:    
Expenditures for property and equipment (1,421,000) (431,000)
Net cash used in investing activities (1,421,000) (431,000)
Cash Flows from Financing Activities:    
Net repayments of revolving credit facility (567,000) (795,000)
Repayment of notes payable and capital lease obligations (298,000) (373,000)
Cash used in employee stock-based transactions (22,000) (16,000)
Net proceeds from issuance of common stock and warrants 8,293,000 19,886,000
Net cash provided by financing activities 7,406,000 18,702,000
Net (decrease) increase in Cash, Cash Equivalents and Restricted Cash (3,183,000) 2,664,000
Cash, Cash Equivalents and Restricted Cash, Beginning of Period 19,705,000 16,706,000
Cash, Cash Equivalents and Restricted Cash, End of Period 16,522,000 19,370,000
Cash paid during the period for:    
Interest 317,000 259,000
Income taxes 7,000 3,000
Supplemental Disclosures of Non-Cash Information:    
Acquisition of property and equipment through accounts payable 162,000 43,000
Renewal of insurance contracts which was financed by notes payable $ 422,000 $ 503,000