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, 2015
Mar. 31, 2014
Cash flows from operating activities:    
Net loss $ (5,164) $ (3,314)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock compensation expense 664 352
Fair value adjustment of common stock warrants 0 (10)
Depreciation 41 34
Reclassified loss of foreign exchange translation 0 142
Intangible asset impairment 571 0
Amortization of intangible assets 209 209
Accrued interest on convertible note receivable (21) (33)
Deferred tax liability (305) (81)
Accrued interest promissory note payable 24 5
Changes in operating assets and liabilities:    
Accounts receivable 60 102
Prepaid expenses and other current assets 92 (46)
Accounts payable, accrued expenses and other liabilities 268 101
Deferred revenue (4) 108
Net cash used in operating activities (3,565) (2,431)
Cash flows from investing activities:    
Acquisition of property and equipment (17) (22)
Net cash used in investing activities (17) (22)
Cash flows from financing activities:    
Proceeds from issuance of note payable 678 0
Payments on note payable (678) 0
Proceeds from issuance of common stock 10,795 0
Financing costs (1,349) (162)
Proceeds from warrants exercised 204 0
Proceeds from at-the-market facility 23 6
Net cash provided by financing activities 9,673 (156)
Net increase/(decrease) in cash and cash equivalents 6,091 (2,609)
Cash and cash equivalents as of beginning of year 1,430 4,039
Cash and cash equivalents as of end of year 7,521 1,430
Supplemental disclosure of non-cash activities:    
Amount receivable from stock option exercise 0 35
Applied deferred financing costs $ 162 $ 0