Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Cash Flows from Operating Activities:    
Net loss $ (21,898) $ (16,659)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 1,616 1,261
Amortization of financing costs and discounts 1,155 311
Amortization of right-of-use assets 870  
Provision for accounts receivable allowances 431  
(Reduction in) accounts receivable allowances   (345)
Inventory provision 564 778
Provision for warranty expenses 594 2,200
(Gain) loss on disposal of equipment 17 2
Stock-based compensation 913 907
Changes in operating assets and liabilities:    
Accounts receivable (449) 91
Inventories (1,499) (5,850)
Prepaid expenses, other current assets and other assets 1,215 (3,813)
Accounts payable and accrued expenses (2,567) 3,049
Accrued salaries and wages and long term liabilities 8 (6)
Accrued warranty reserve (1,274) (1,269)
Deferred revenue 606 1,640
Net cash used in operating activities (19,698) (17,703)
Cash Flows from Investing Activities:    
Expenditures for property, equipment and rental assets (4,207) (3,360)
Net cash used in investing activities (4,207) (3,360)
Cash Flows from Financing Activities:    
Repayment of revolving credit facility   (8,527)
Net proceeds from term note payable   29,262
Repayment of notes payable and lease obligations (613) (337)
Cash used in employee stock-based transactions (100) (114)
Net proceeds from issuance of common stock and warrants 9,959 11,098
Net cash provided by financing activities 9,246 31,382
Net increase (decrease) in Cash, Cash Equivalents and Restricted Cash (14,659) 10,319
Cash, Cash Equivalents and Restricted Cash, Beginning of Year 29,727 19,408
Cash, Cash Equivalents and Restricted Cash, End of Year 15,068 29,727
Supplemental Disclosures of Cash Flow Information:    
Cash paid during the period for: Interest 3,603 453
Cash paid during the period for: Income taxes 17 $ 6
Supplemental Disclosures of Non-Cash Information:    
Acquisition of property and equipment through accounts payable 72  
Issuance of common stock for services to be received 700  
Deemed dividend $ 87