Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.22.0.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 9 Months Ended
Dec. 25, 2021
Dec. 26, 2020
Cash flows from operating activities:    
Net income (loss) $ (1,543,000) $ 435,000
Adjustments to reconcile net income (loss) to net cash used in operating activities:    
Depreciation and amortization 157,000 195,000
Stock based compensation 414,000 205,000
Gain on extinguishment of PPP Loan 0 (786,000)
Gain on forgiveness of interest on PPP Loan 0 (5,000)
Finance costs for issuance of prefunded warrants 157,000 0
Gain on remeasurement of prefunded warrants liability (92,000) 0
Changes in operating assets and liabilities:    
Trade accounts receivable 578,000 720,000
Inventories (1,116,000) 46,000
Prepaid expenses 60,000 49,000
Unbilled receivable (500,000) (233,000)
Right-of-use asset 256,000 237,000
Other long term assets (139,000) 0
Accounts payable 121,000 541,000
Accrued payroll and benefits 134,000 215,000
Deferred revenue (7,000) (159,000)
Other current and non-current liabilities (44,000) (127,000)
Net cash provided by (used in) operating activities (1,564,000) 1,333,000
Cash flows from investing activities:    
Purchases of property and equipment 0 (64,000)
Net cash used in investing activities 0 (64,000)
Cash flows from financing activities:    
Principal payments on leases (331,000) (317,000)
Repayments of borrowings (4,989,000) (2,202,000)
Proceeds from loans payable, net of issuance costs 4,976,000 1,941,000
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 1,144,000 (578,000)
Increase (decrease) in cash (420,000) 691,000
Beginning cash 736,000 657,000
Ending cash 316,000 1,348,000
Supplementary disclosure of cash flow information:    
Cash paid for income taxes 10,000 2,000
Cash paid for interest 28,000 85,000
Supplementary disclosure of noncash activities:    
Fair value of dividends in kind 0 10,000
Prefunded Warrant Dividends [Member]    
Supplementary disclosure of noncash activities:    
Deemed dividend on common shares from prefunded warrants issuance $ 203,000 $ 0