Encision Reports Fourth Quarter Fiscal Year 2019 Results

Tuesday, May 14, 2019 General News
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Encision Inc.

Unaudited Condensed Statements of Cash Flows

(in thousands)

Years Ended

March 31, 2019

March 31, 2018

Operating activities:

    Net income (loss)

$ (236)

$  336

    Adjustments to reconcile net income (loss) to cash generated by operating activities:

    Depreciation and amortization

182

203

    Share-based compensation expense

37

66

    (Recovery from) provision for doubtful accounts, net

6

(13)

    (Recovery from) inventory obsolescence, net

29

(29)

    Changes in operating assets and liabilities:

        Accounts receivable     

(52)

92

        Inventories

(64)

(280)

        Prepaid expenses and other assets

(56)

(15)

        Accounts payable

111

64

        Accrued compensation and other accrued liabilities

(85)

(4)

            Net cash generated by operating activities

(128)

420

Investing activities:

    Acquisition of property and equipment

(55)

(57)

    Patent costs

(6)

(43)

            Net cash (used in) investing activities

(61)

(100)

Financing activities:

    Paydown of credit facility, net change

––

(275)

    Net  proceeds from the issuance of common stock

347

25

            Net cash generated by (used in) financing activities

347

(250)

Net increase in cash, cash equivalents and restricted cash

158

70

Cash, cash equivalents and restricted cash, beginning of period

140

45

Cash, cash equivalents and restricted cash, end of period

$    298

$ 115



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