Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.20.4
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Dec. 26, 2020
Dec. 28, 2019
Cash flows from operating activities:    
Net income (loss) $ 435,000 $ (24,000)
Adjustments to reconcile net income (loss) to net cash used in operating activities:    
Depreciation and amortization 116,000 140,000
Share based compensation 205,000 229,000
Gain on extinguishment of PPP Loan (786,000)
Gain on forgiveness of Interest on PPP Loan (5,000)
Accretion of discounts and issuance costs on debt 20,000
Accrued interest and fees on loan payable (224,000)
Change in deferred rent 1,000
Changes in operating assets and liabilities    
Trade accounts receivable 720,000 91,000
Inventories 125,000 (852,000)
Prepaid expenses and other assets (184,000) (629,000)
Right of use asset 237,000 197,000
Accounts payable 541,000 221,000
Accrued payroll and benefits 215,000 (74,000)
Deferred revenue (159,000) 218,000
Other current and non-current liabilities (127,000) (369,000)
Net cash provided by (used in) operating activities 1,333,000 (1,055,000)
Cash flows from investing activities:    
Purchases of property and equipment (64,000) (123,000)
Net cash used in investing activities (64,000) (123,000)
Cash flows from financing activities:    
Principal payments on leases (317,000) (282,000)
Proceeds from issuance of common stock, net of issuance costs 2,053,000
Proceeds from exercise of warrants 211,000
Proceeds from borrowings, net of issuance costs 1,941,000 1,051,000
Repayments of borrowings (2,202,000) (1,489,000)
Net cash provided by (used in) financing activities (578,000) 1,544,000
Increase in cash and cash-equivalents 691,000 366,000
Beginning cash and cash-equivalents 657,000 878,000
Ending cash and cash-equivalents 1,348,000 1,244,000
Supplementary disclosure of cash flow information:    
Cash paid for income taxes 2,000 57,000
Cash paid for interest 85,000 376,000
Supplementary disclosure of noncash financing activities:    
Cumulative effect of adoption of ASC 842 on right of use assets 1,361,000
Cumulative effect of adoption of ASC 842 on deferred rent 429,000
Cumulative effect of adoption of ASC 842 on lease liability 1,790,000
Fair value of dividends in kind $ 10,000 $ (190,000)