Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS

v3.21.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Cash Flows from Operating Activities:    
Net loss $ (18,387) $ (21,898)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:    
Depreciation and amortization 1,452 1,616
Amortization of financing costs and discounts 623 1,155
Amortization of right-of-use assets 378 870
Loss on debt extinguishment 4,282  
Reduction in accounts receivable allowances (228)  
Provision for accounts receivable allowances   431
Inventory provision 305 564
Provision for warranty expenses 5,930 594
Gain on disposal of equipment (1) 17
Stock-based compensation 937 913
Changes in operating assets and liabilities:    
Accounts receivable (4,125) (449)
Inventories 8,702 (1,499)
Prepaid expenses, other current assets and other assets 653 1,215
Accounts payable and accrued expenses 4,652 (2,567)
Accrued salaries and wages and long term liabilities 245 8
Accrued warranty reserve (2,014) (1,274)
Deferred revenue (1,703) 606
Net cash provided by (used in) operating activities 1,701 (19,698)
Cash Flows from Investing Activities:    
Expenditures for property, plant, equipment and rental assets (3,209) (4,207)
Net cash used in investing activities (3,209) (4,207)
Cash Flows from Financing Activities:    
Net proceeds from term note payable 20,833  
Repayment of notes payable and lease obligations (691) (613)
Cash used in employee stock-based transactions (74) (100)
Net proceeds from issuance of common stock and warrants 15,905 9,959
Net cash provided by financing activities 35,973 9,246
Net increase (decrease) in Cash and Cash Equivalents 34,465 (14,659)
Cash and Cash Equivalents, Beginning of Year 15,068 29,727
Cash and Cash Equivalents, End of Year 49,533 15,068
Supplemental Disclosures of Cash Flow Information:    
Cash paid during the period for: Interest 4,287 3,603
Cash paid during the period for: Income taxes 14 17
Supplemental Disclosures of Non-Cash Information:    
Acquisition of property and equipment through accounts payable 36 72
Renewal of insurance contracts which was financed by notes payable 593 700
Deemed dividend $ 15 $ 87