Annual report pursuant to section 13 and 15(d)

Consolidated Statements of Cash Flows

v2.4.0.8
Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
 12 Months Ended
Mar. 31, 2013
Mar. 31, 2012
Cash flows from operating activities    
Net (loss)/income $ (14,161) $ (30,707)
Adjustments to reconcile net income/(loss) to net cash used in operating activities:    
Depreciation and amortization 646 429
Loss on extinguishment of debt   (2,004)
Amortization of debt discount 1,420 9,709
Interest accrued 290  
PIK Interest 151 575
Allowance for doubtful accounts 22 (12)
Finance costs   1,194
Fair value of financing costs related to conversion options   1,255
Stock-based compensation 487  
Impairment of goodwill and intangibles 1,119 5,288
Settlement of debt with a supplier (337) (1,393)
Loss on fair value of contingent liability (83)  
Increase / (decrease) in fair value of derivative liabilities 22 4,447
Loss on disposal of leasehold improvements 41  
(Increase) / decrease in assets:    
Accounts receivable (260) 1,521
Deposits (510)  
Prepaid expenses and other current assets 377 176
Increase / (decrease) in liabilities:    
Accounts payable 513 637
Accrued license fees (421) (34)
Accrued compensation 110 211
Other liabilities and other items 75 (556)
Net cash used in operating activities (6,865) (1,829)
Cash flows from investing activities    
Purchase of property and equipment (12) (17)
Cash used in acquisition of subsidiary (3,416)  
Cash acquired with acquisition of subsidiary 59  
Net cash used in investing activities (3,369) (17)
Cash flows from financing activities    
Proceeds from new convertible debt   7,000
Issuance of shares for cash 2,550 2,700
Net cash provided by financing activities 2,550 9,700
Effect of exchange rate changes on cash and cash equivalents 34 100
Net change in cash and cash equivalents (7,650) 7,954
Cash and cash equivalents, beginning of period 8,799 845
Cash and cash equivalents, end of period 1,149 8,799
Supplemental disclosure of cash flow information:    
Taxes paid 34 119
Supplemental disclosure of non-cash investing and financing activities:    
Conversion of convertible note and interest to shares of common stock   8,852
Issuance of warrants with convertible debenture   4,636
Beneficial conversion feature associated with convertible debenture   8,915
Reclassify derivative liability to additional paid in capital   13,786
Contingency earn out on acquisition of subsidiary, net of discount 841  
Common stock of the Company issued for pending acquisition of an asset 533  
Common stock of the Company issued for acquisition of subsidiary 788  
Exercise of warrants to purchase common stock of the Company 474  
Service provider
    
Adjustments to reconcile net income/(loss) to net cash used in operating activities:    
Issuance of stock, stock option and warrants for service 555 133
Services
    
Adjustments to reconcile net income/(loss) to net cash used in operating activities:    
Issuance of stock, stock option and warrants for service $ 3,079 $ 7,302