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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
12 Months Ended
Mar. 31, 2015
Mar. 31, 2014
Mar. 31, 2013
Cash flows from operating activities      
Net loss $ (13,812,570) $ (7,471,406) $ (11,432,223)
Adjustments to reconcile net loss to net cash generated from operating activities:      
Gain on sale of investment in equity method investee 0 0 (1,292,168)
Goodwill impairment 0 0 2,000,000
Long-lived assets impairment 3,200,089 1,590,371 0
Gain on sale of investment 0 (2,740,940) 0
Equity in net loss (earnings) of equity method investees 0 0 (84,310) [1]
Depreciation and amortization 1,719,327 3,060,269 3,664,376
Allowances / (write-back) for doubtful trade accounts 41,509 190,493 (48,580)
Promissory note impairment 0 0 1,100,000
Loss (profit) on sale of property, plant and equipment 2,021 (460) (1,701)
Stock-based compensation expense 426,705 481,563 756,090
Unrealized exchange loss (gain) 90,394 146,784 11,808
Changes in assets and liabilities:      
Trade accounts receivable 463,392 116,034 2,104,717
Prepaid expenses and other current assets (9,252) 9,215 449,452
Accounts payable, accrued liabilities and other liabilities 225,228 (78,956) 1,156,450
Customer advances and unearned revenues 70,361 377,713 (621,397)
Recoverable taxes 175,463 1,531,255 (193,869)
Other non-current assets 68,320 (44,772) (109,196)
Net cash used in operating activities (7,339,013) (2,832,837) (2,540,551)
Cash flows from investing activities      
Payments to acquire property, plant and equipment (1,211,445) (1,472,422) (1,903,229)
Purchase of investment 0 0 (104,987)
Sale of investment in equity method investee 0 0 1,452,944
Sale of investment 152,447 3,531,935 0
Proceeds from sale of property, plant and equipment 2,906 7,735 7,594
Net cash generated from / (used in) investing activities (1,056,092) 2,067,248 (547,678)
Cash flows from financing activities      
Proceeds from issue of shares 0 0 0
Net cash generated from financing activities 0 0 0
Net decrease in cash and cash equivalents (8,395,105) (765,589) (3,088,229)
Cash and cash equivalents at the beginning of the year 17,151,189 20,024,483 24,545,839
Effect of exchange rate changes on cash and cash equivalents (461,323) (2,107,705) (1,433,127)
Cash and cash equivalents at the end of the year 8,294,761 17,151,189 20,024,483
Supplementary cash flow information:      
Income taxes paid 305,768 358,587 448,393
Supplementary disclosure of non-cash investing activity:      
Payables for purchase of property, plant and equipment $ 205,786 $ 2,940 $ 204,638
[1] Information provided for the period ended October 8, 2012, relates to Imere Technology Private Limited which was sold as on same date.