Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.21.1
Consolidated Statements of Cash Flows - USD ($)
 12 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Cash flows from operating activities:    
Net income (loss) [1] $ (2,734,000) $ (10,102,000)
Reconciliation of net income to net cash provided by (used in) operating activities:    
Gain on forgiveness of first draw PPP loan (1,637,000)  
Depreciation and amortization 1,294,000 1,900,000
Long-lived assets impairment 525,000 1,007,000
Stock-based compensation 515,000 774,000
Exchange rate loss (gain) (15,000) 12,000
Loss (gain) on sale of fixed assets 0 (11,000)
Restructuring 0 234,000
Changes in assets and liabilities:    
Accounts receivable (431,000) 2,807,000
Inventories 1,868,000 2,994,000
Prepaid expenses and other current assets (54,000) 408,000
Other assets (1,827,000) (209,000)
Deferred revenue (341,000) (341,000)
Accounts payable, accrued expenses and other liabilities 2,932,000 (1,745,000)
Net cash provided by (used in) operating activities 95,000 (2,272,000)
Cash flows from investing activities:    
Payments to Acquire Intangible Assets 0 (1,950,000)
Purchases of property and equipment (72,000) (185,000)
Payments for (Proceeds from) Other Investing Activities 0 (11,000)
Net cash provided by (used in) investing activities (72,000) (2,124,000)
Cash flows from financing activities:    
Proceeds from note payable to bank, for first and second draw SBA PPP loans 3,275,000  
Purchases of treasury stock (7,283,000) (192,000)
Net cash provided by (used in) financing activities (4,008,000) (192,000)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect, Total (3,985,000) (4,588,000)
Cash and cash equivalents, beginning of period 20,869,000 25,457,000
Cash and cash equivalents, end of period 16,884,000 20,869,000
Supplemental Cash Flow Information    
Cash paid (refunded) for income taxes, net $ (337,000) $ (335,000)
[1] Net income (loss) and comprehensive income (loss) are the same for the periods reported.