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, 2023
Mar. 31, 2022
Cash Flows from Operating Activities:    
Net loss $ (24,522) $ (22,370)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 3,177 1,915
Amortization of financing costs and discounts 68 35
Amortization of right-of-use assets 1,330 657
(Gain) loss on debt extinguishment   (1,950)
Bad debt expense (recovery) 4,277 391
Inventory provision 961 791
Provision for warranty expenses 592 646
Stock-based compensation 863 1,245
Changes in operating assets and liabilities:    
Accounts receivable 4,060 (3,383)
Inventories (11,521) (9,105)
Prepaid expenses, other current assets and other assets (1,210) 164
Accounts payable and accrued expenses 5,660 5,098
Operating lease liability (1,304) (613)
Accrued salaries and wages and long-term liabilities 77 (743)
Accrued warranty reserve (499) (5,013)
Deferred revenue 8,373 3,229
Factory protection plan liability 1,674 1,508
Net cash used in operating activities (7,944) (27,498)
Cash Flows from Investing Activities:    
Expenditures for property, plant, equipment and rental assets (8,222) (9,924)
Net cash used in investing activities (8,222) (9,924)
Cash Flows from Financing Activities:    
Repayment of notes payable and lease obligations (804) (685)
Cash used in employee stock-based transactions (52) (138)
Net proceeds from issuance of common stock and warrants 7,302 11,271
Net cash provided by financing activities 6,446 10,448
Net (decrease) in Cash and Cash Equivalents (9,720) (26,974)
Cash and Cash Equivalents, Beginning of Period 22,559 49,533
Cash and Cash Equivalents, End of Period 12,839 22,559
Supplemental Disclosures of Cash Flow Information - cash paid during the period for:    
Interest 5,701 5,095
Supplemental Disclosures of Cash Flow Information - cash paid during the period for:    
Income taxes 13 20
Supplemental Disclosures of Non-Cash Information:    
Acquisition of property and equipment through accounts payable 29 264
Renewal of insurance contracts financed by notes payable 665 567
Issuance of common stock for services to be received   $ 75
Deemed dividend 97  
Right-of-use assets obtained in exchange for lease obligations 8,170  
Rental assets capitalized from inventory $ 1,687