Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.21.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 6 Months Ended
Sep. 25, 2021
Sep. 26, 2020
Cash flows from operating activities:    
Net loss $ (798,000) $ (405,000)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 107,000 133,000
Stock based compensation 301,000 142,000
Cumulative dividends on Series E preferred stock 43,000 0
Gain on remeasurement of prefunded warrants liability (92,000) 0
Finance costs for issuance of prefunded warrants 157,000 0
Changes in operating assets and liabilities:    
Trade accounts receivable (498,000) (89,000)
Inventories (896,000) 43,000
Prepaid expenses 36,000 (15,000)
Unbilled receivable (174,000) (214,000)
Right-of-use asset 168,000 156,000
Other long term assets (86,000) 0
Accounts payable 130,000 227,000
Accrued payroll and benefits (3,000) 98,000
Deferred revenue (6,000) (159,000)
Other current and non-current liabilities (18,000) (93,000)
Net cash used in operating activities (1,629,000) (176,000)
Cash flows from investing activities:    
Purchases of property and equipment 0 (31,000)
Net cash used in investing activities 0 (31,000)
Cash flows from financing activities:    
Payments on leases (219,000) (215,000)
Repayments of borrowings (2,736,000) (1,292,000)
Proceeds from loan payable, net of issuance costs 3,008,000 1,462,000
Proceeds from issuance of stock, net of issuance costs 145,000 0
Proceeds from issuance of prefunded warrants 1,500,000 0
Finance costs for issuance of prefunded warrants (157,000) 0
Net cash provided by (used in) financing activities 1,541,000 (45,000)
Increase (decrease) in cash (88,000) (252,000)
Beginning cash 736,000 657,000
Ending cash 648,000 405,000
Supplementary disclosure of cash flow information:    
Cash paid for income taxes 7,000 2,000
Cash paid for interest 15,000 69,000
Prefunded Warrant Dividends [Member]    
Supplementary disclosure of noncash activities:    
Deemed dividend on common shares 203,000 0
Series E Preferred Stock Dividends [Member]    
Supplementary disclosure of noncash activities:    
Deemed dividend on common shares $ 43,000 $ 0