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, unless otherwise specified
 12 Months Ended
Mar. 31, 2014
Mar. 31, 2013
Mar. 31, 2012
Cash Flows from Operating Activities:      
Net loss $ (16,256) $ (22,563) $ (18,764)
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation and amortization 2,323 2,820 3,404
Amortization of deferred financing costs 223 148 169
Accounts receivable allowances 242 276 2,256
Inventory provision 1,509 1,307 1,525
Provision for warranty expenses 3,903 5,129 4,227
Loss on disposal of equipment 225 41 3
Stock-based compensation 2,147 1,601 1,652
Change in fair value of warrant liability (10) (781) (13,983)
Changes in operating assets and liabilities:      
Accounts receivable (10,320) 359 (1,503)
Inventories (784) (2,878) (998)
Prepaid expenses and other current assets 470 587 (220)
Accounts payable and accrued expenses 4,475 1,221 2,660
Accrued salaries and wages and long term liabilities 90 (107) 106
Accrued warranty reserve (3,237) (4,324) (3,814)
Deferred revenue (432) 94 1,842
Net cash used in operating activities (15,432) (17,070) (21,438)
Cash Flows from Investing Activities:      
Expenditures for property and equipment (1,179) (1,213) (1,419)
Changes in restricted cash     1,250
Net cash used in investing activities (1,179) (1,213) (169)
Cash Flows from Financing Activities:      
Net (repayments of) proceeds from revolving credit facility (248) 3,045 3,351
Repayment of notes payable and capital lease obligations (415) (128) (499)
Net proceeds from (cash used in) employee stock-based transactions 362 (19) 702
Net proceeds from issuance of common stock and warrants     23,146
Proceeds from exercise of common stock warrants and put options 5,954 4,250 11,403
Net cash provided by financing activities 5,653 7,148 38,103
Net (decrease) increase in Cash and Cash Equivalents (10,958) (11,135) 16,496
Cash and Cash Equivalents, Beginning of Year 38,817 49,952 33,456
Cash and Cash Equivalents, End of Year 27,859 38,817 49,952
Cash paid during the year for:      
Interest 506 588 672
Income taxes 246 635 204
Cash received during the period for income tax refund     127
Supplemental Disclosures of Non-Cash Information:      
Insurance contracts financed by notes payable 491 476 635
Accrued purchases of property and equipment included in accounts payable 7 26 187
Fixed assets purchased with a note payable $ 158 $ 306 $ 0